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 Distressed Properties - Short Sales, Auction Properties, and Subject To
Welcome to the Legacy Wealth Code podcast, your guide to navigating the ever-changing real estate market. In this episode, we delve into the current landscape, where default notices have surged by 36% from 2022 to 2023. As scheduled auctions and bank repossessions increase, exciting investment opportunities emerge. Join us as we explore different types of distressed properties and uncover strategies to capitalize on them. From subject-to properties and short sales to auction properties, we shed light on the diverse buying opportunities that lie ahead in the face of growing economic uncertainty. Tune in now and equip yourself with the knowledge to thrive in this evolving market.
Onward!
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THE LEGACY WEALTH CODE PODCAST SHOW NOTES
Episode #9: Investing in Distressed Properties - Short Sales, Auction Properties, and Subject To
Host: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 Notbohm & Andrew Hoek.
With the fallout of events from the pandemic and a dwindling buyers pool, the number of distressed properties will very likely go up over the next 12 to 18 months. Hence, eager investors must prepare themselves financially and educationally to identify and maximize these opportunities. Learning to navigate the terrain through due diligence and having an understanding of the distressed property market will guide a lot of investors in this period.
In this episode, our hosts shed light on the different categories of investment possibilities available with distressed properties. They also discuss key factors to consider and how investors can leverage these Properties to make a profit in real estate.
Episode Topics
- [00:32] Today's discussion is about opportunities in distressed real estate.
- [08:24] What are the options available for people who want to invest?
- [12:00] Understanding the situation of the seller in Distressed Properties; Seller Financing and Subject To.
- [16:00] About Short Sales and Auctions.
Notable Quotes
- "The historically low interest rates have given a false narrative to how hot the market really is" - [Michael Notbohm]
- "The economy as you know is solely based on people's confidence" - [Andrew Hoek]
- “You can’t put your head in the sand and ignore the fact that there’s probably going to be some pretty excellent distressed property buying opportunities” - [Andrew Hoek]
- "We'll occasionally see people that are property rich but they're cash poor" - [Andrew Hoek]
- "One of the greatest things about real estate is there's no one way to do anything" - [Michael Notbohm]
- "Stay on cash, be ready for these opportunities that are going to present themselves" - [Michael Notbohm]
- "With tough times is where you get a lot of opportunity on the investment side and I think that really what we're staring down" - [Andrew Hoek]