The Legacy Wealth Code Podcast
Welcome to the "Legacy Wealth Code" podcast, where we unravel the secrets of real estate investing, tax strategies employed by the uber wealthy, and the art of building a lasting legacy. Join us on this captivating journey as we explore the pathways to wealth creation, uncover powerful tax-saving techniques, and feature interviews with successful business owners who have mastered the art of building generational wealth.
In each episode, your host Michael & Andrew, will guide you through thought-provoking discussions, insightful interviews, and expert advice from renowned investors and financial gurus. Together, we will dive deep into the world of real estate investing, examining various strategies such as property flipping, rental properties, commercial real estate, and syndications. Discover key principles, practical tips, and industry trends that can help you make informed decisions and maximize your returns in today's dynamic real estate market.
But that's not all. "Legacy Wealth Code" delves into the fascinating realm of tax strategies, unveiling the closely guarded secrets of the uber wealthy. Learn how they employ legal techniques to minimize their tax obligations and explore the intricacies of tax planning, entity structuring, 1031 exchanges, cost segregation, and more. Unlock the power of tax optimization and gain insights that could potentially save you significant amounts of money.
Additionally, we bring you exclusive interviews with highly successful business owners and entrepreneurs who have mastered the art of wealth creation and legacy building. These captivating conversations will provide invaluable insights, personal anecdotes, and actionable advice on overcoming challenges, seizing opportunities, and leaving a meaningful impact on the world.
Whether you're an aspiring investor, seasoned entrepreneur, or simply curious about the world of wealth creation, the "Legacy Wealth Code" podcast will empower you with the knowledge and inspiration needed to embark on your own path to financial success. Join us on this transformative podcast as we decode the secrets of real estate investing, reveal powerful tax strategies, and guide you towards building a remarkable legacy that will endure for generations to come.
Tune in to the "Legacy Wealth Code" podcast and unlock the blueprint for financial freedom, tax optimization, and the creation of a legacy that stands the test of time.
The Legacy Wealth Code Podcast
Investing in a Shifting Market with Guest Chris McLaughlin
On this episode we discuss with our guest Chris McLaughlin the current market we are in, the forecast for what is to come in 2023, and where some of the best opportunities will lie. Chris owns 4 Keller Williams franchises in the Tampa Bay area totaling over 2.2 billion in retail sales volume in 2022. With years of experience as an investor having built a large portfolio of residential and commercial properties, Chris is passionate about building wealth and creating a lasting legacy for his family and his community. This episode features some incredible insight from one of the most respected real estate investors & entrepreneurs in the country.
Onward!
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THE LEGACY WEALTH CODE PODCAST SHOW NOTES
Episode #3:
Hosts: Michael Notbohm & Andrew Hoek
Guest: Chris McLaughlin
Episode Summary
Welcome to this episode of the Legacy Wealth Code Podcast, a platform aimed at helping you build long-term wealth and a lasting legacy through real estate investing, tax strategies, and motivational stories from successful people. Meet our hosts, Michael & Andrew.
Today’s guest is Chris McLaughlin who began his career as the Founder of Smartportfolio.com, an online newsletter company that sold in December 2000 to thestreet.com, and currently owns 4 Keller Williams offices with 950 agents. They are ranked among the top 10 by Florida RealTrends, with total sales worth over 2.2 billion dollars as of the end of 2021. Also the founder of Loss Mitigation Training Institute LLC, Chris offers a free daily update on the real estate industry. His book, "Chris McLaughlin's Guide to Smart Real Estate Investing'' was the top seller in the business category of the New York Times bestseller's list. He obtained a Law Degree and an MBA from Georgetown University and is a husband as well as a father of 5 kids.
In this episode, our hosts feature Chris McLaughlin, a highly successful real estate investor, as he shares his insights on the current state of the real estate market, offering applicable strategies from his wealth of knowledge on how investors can leverage opportunities for wealth creation in real estate.
Episode Topics
[00:38] Meet today's guest, Chris McLaughlin.
[02:50] What is the difference between the market shifts happening now and the 2008 situation?
[09:07] What do you think prices are going to drop to?
[11:52] Foreclosure sales; the best opportunities in the next 12 to 24 months.
[14:33] Chris's view on interest rates going into 2023; an expected dip in the 2nd half.
[20:29] What does your real estate portfolio look like right now?
[29:38] Do you try to sell more properties than you hold on to?
[34:00] What do you want your legacy to be?
[39:42] About Chris's plans to give back to his community.
[41:16] Chris shares his entrepreneurial path to real estate.
[45:44] Get Chris's book on Amazon.
Notable Quotes
"My crystal ball says that interest rates, believe it or not, could go below 6% in the latter half of 2023" - [Chris McLaughlin]
"Be greedy when others are fearful, and fearful when others are greedy" - [Chris McLaughlin]
It's not 'timing real estate; it's 'time in real estate" - [Chris McLaughlin]
"I always call the rule of 1%, which means that 1% of your purchase price should be monthly rent" - [Chris McLaughlin]
"Refinancing and pulling the equity out is always a better option than selling when it's your property" - [Chris McLaughlin]
"I don't see any way to long-term wealth without real estate as a big factor in it" - [Chris McLaughlin]
"There's two ways to make money; you can leverage people or leverage money" - [Chris McLaughlin]