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
Supercharge Your Investments with Cost Segregation & Bonus Depreciation
Have you ever wondered how the wealthiest people in the world continue to make millions and millions of dollars and pay little or no taxes? Would you be surprised to hear that the same tax incentives they use are actually available to everyone? We can tell you first hand, our entire investment strategy changed as soon as cost segregation became part of every one of our investments. This is hands down one of the greatest wealth building tools ever, so if you are interested in creating a lasting legacy and building enormous wealth through real estate investing, this episode is for you.
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THE LEGACY WEALTH CODE PODCAST SHOW NOTES
Episode #4:
Hosts: Michael Notbohm & Andrew Hoek
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 conversation centers around Cost Segregation and Bonus Depreciation, and our hosts answer common questions related to the topic, as well as its impact on their investments and clients taking the Legacy Wealth Code course.
In this episode, our hosts expound on the benefits of Cost Segregation, with real-life examples from their business, highlighting the history behind it while dispelling erroneous conceptions around it.
Episode Topics
[00:27] Today's topic is Cost Segregation and Bonus Depreciation.
[01:10] The history of Cost Segregation.
[04:05] What is Cost Segregation?
[06:05] Exploring cost segregation in the investment business.
[14:50] Myths and FAQs on cost segregation.
[20:14] Other applications of Cost Segregation in real estate.
Notable Quotes
"The tax law is there for a reason, it's not there as a loophole… you're taking advantage of the tax law because the government is incentivizing you to do things that they don't want to do" - [Michael Notbohm]
"If the tax code is 5000 pages long, 98% of it is geared at what you can do, while only 2% is geared at what you can't do, and everybody hyper-focuses on that 2%" - [Andrew Hoek]
"Kicking the can on taxes is a tax strategy in itself" - [Andrew Hoek]
"One of the great double-edged swords of the world, I think, is being a high W2 wage earner" - [Andrew Hoek]
"If you're buying and investing in real estate and you're not doing this, you're leaving thousands and thousands of dollars on the table" - [Michael Notbohm]