181: The Tale Of Two Real Estate Markets | Tom Wheelwright: Past, Present, and Future Of Taxes
Get Rich Education
Keith Weinhold
4.8 • 612 Ratings
🗓️ 27 June 2018
⏱️ 45 minutes
🧾️ Download transcript
Summary
#181: Learn how to permanently reduce your taxes.
At a W-2 job: the government gets paid first, Wall Street second, and you're third.
I recite "A Tale Of Two Real Estate Markets". This story will shift your thought paradigm and make your jaw drop.
Tom Wheelwright & I discuss income tax and capital gains tax - rates, history, and strategy so you legally pay the lowest possible rates.
Learn why house flippers pay higher tax rates than buy-and-hold real estate investors.
Where will tax rates be in the long-term future? Tom discusses.
Want more wealth?
1) Grab my free E-book and Newsletter at: GetRichEducation.com/Book
2) Actionable turnkey real estate investing opportunity: GREturnkey.com
3) Read my new, best-selling paperback: getbook.at/7moneymyths
Listen to this week's show and learn:
01:02 "A Tale Of Two Markets".
13:10 At a W-2 job: the government gets paid first, Wall Street second, you third.
14:05 Income tax, Social Security tax.
30:13 Capital gains tax.
36:48 Thoughts about where future tax rates will be.
Resources Mentioned:
Mortgage Loans: RidgeLendingGroup.com
Cash Flow Banking: ValhallaWealth.com
Apartment Investor Mastery: BradSumrok.com
Transcript
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| 0:00.0 | Get Rich Education is brought to you by Ridge Lending Group, apartment investor mastery, and producers' wealth. You're listening to the show that has created more passive income for people than nearly any show in the world. This is the powerful Get Rich Education. |
| 0:35.6 | Welcome to GRE, Get Rich Education. Hi, I'm your host Keith Weinhold. Rich Dadad Advisor, Tom Weirut, |
| 0:38.7 | is going to be back with us here on the show in a few minutes to discuss permanently reducing |
| 0:42.7 | your taxes. But first, I want to tell you something about real estate markets. Even in this |
| 0:48.3 | increasingly digital world, geography still matters immensely in real estate investing. It's still about location, location, |
| 0:56.1 | location. So when real estate investing, we often talk about how your market is more important |
| 1:00.3 | than your property. I want to tell you a story. I'm going to call this a tale of two real estate |
| 1:07.2 | markets. And this could be pretty paradigm shifting for you. I'm going to tell you |
| 1:12.9 | about a place that's really bad. Then I'm going to tell you about where this place is. And then I'm |
| 1:19.1 | going to talk about another place that's really good. So, okay, for this market that's really bad, |
| 1:24.9 | Forbes just named it the fifth most dangerous city in the United States. |
| 1:31.1 | The FBI's latest uniform crime report just named the state that this city is in, the most |
| 1:36.4 | dangerous state in America too. So different reputable sources agree that this city I'm describing |
| 1:43.3 | is definitely in a bad place. |
| 1:46.6 | The city has eye-poppingly high rates of both violent crime and property crime, and it has high |
| 1:52.8 | rates of murder and assault and sexual abuse and drug abuse and drug addiction and even rampant motor vehicle thefts. |
| 2:03.8 | Seemingly, almost every bad crime you can think of, this city has a major problem with it. |
| 2:10.8 | Wide swaths of the city, people don't even feel safe parking their car outside of a garage or it's going to get vandalized. |
| 2:17.2 | In fact, |
| 2:18.5 | while year over year property crime nationally fell 1% in 2016, which is the latest year reported, |
| 2:27.3 | it still rose 24% in this bad city. Unemployment has become so bad that it isn't just so bad in the city. |
| 2:36.9 | Even the state that the city is in has the highest unemployment rate of all 50 U.S. states |
... |
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