407: 8 Rentals in 8 Years and Unlocking MASSIVE Tax Breaks with One Career Move

BiggerPockets Money Podcast

BiggerPockets

Investing, Education, Business

4.6 • 2.9K Ratings

🗓️ 1 May 2023

⏱️ 62 minutes

🔗️ Recording | iTunes | RSS

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Summary

Think it might be too late for you to enjoy the spoils of real estate investing? Well, you’d be wrong! Regardless of age, background, or financial circumstances, it’s never too late to switch careers and become a real estate investor. Just ask today’s guest! In this edition of the BiggerPockets Money podcast, we’re joined by Evan Miller, who was a bright-eyed, bushy-tailed US Air Force cadet when he first took an interest in real estate. It wasn’t long before his childhood dream of becoming a pilot was ousted by the entrepreneurial pull of building his own real estate empire. Although his journey included a stint in intelligence and a pit stop as a certified financial planner, Evan has managed to create a portfolio of eight properties over the last eight years. In today’s episode, Evan shares his entire story from start to finish, including his frugal upbringing, his time at the academy, and his journey towards becoming a full-time real estate investor. As always, our trusted hosts Mindy and Scott are along for the ride. Tune in as we demystify a handful of money-related topics—qualifying for real estate professional status (REPS) and its enormous tax benefits, finding exclusive deals through assumable loans, and flipping houses for a profit—even in a bad housing market! In This Episode We Cover How to seamlessly transition from your current vocation to a career in real estate The value of frontloading depreciation when building your real estate portfolio Assumable loans and how to find HUGE deals in military markets How to flip houses at a profit in a volatile housing market Real estate professional status (REPS) tax benefits (and how to qualify!) The opportunities that come from surrounding yourself with other real estate investors And So Much More! Links from the Show BiggerPockets Money Facebook Group BiggerPockets Forums Finance Review Guest Onboarding Join BiggerPockets for FREE Mindy on BiggerPockets Scott's Instagram Grab Scott’s Book, “Set for Life” Listen to All Your Favorite BiggerPockets Podcasts in One Place Apply to Be a Guest on The Money Show Podcast Talent Search! The Real Estate Rookie Podcast Listen to The “On The Market” Podcast: Spotify, Apple Podcasts, BiggerPockets Money Moment Episode 217: 16 Units in 3 States as a BiggerPockets Power Couple Working Full-Time Grab “The Book on Investing in Real Estate with No (and Low) Money Down Tax Day Q&A: Live CPAs Help YOU Owe Less To the IRS Year-End Tax Tips and How to Owe Even Less in 2023 Try the BiggerPockets Calculators: Mortgages Rental Calculator Rental Estimator Click here to check the full show notes: https://www.biggerpockets.com/blog/money-407 Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Let us know! Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Welcome to the Bigger Pog its Money Podcast where we interview Evan Miller and talk about his journey from being in the Air Force
0:06.1	to becoming a CFP to landing on real estate full-time.
0:10.4	Hello, hello, hello, my name is Mindy Jensen and with me as always is my co-pilot, co-host, Scott Judge.
0:16.1	Thanks Mindy, great to be here and always delighted to be your wingman.
0:19.2	Scott and I are here to make financial independence less scary, less just for somebody else.
0:23.9	To introduce you to every money story because we truly believe financial freedom is attainable for everyone.
0:28.6	No matter when or where you're starting.
0:30.6	That's right, whether you want to retire early and travel the world, go on to make big-time investments
0:34.3	in assets like real estate or go full-time as a real estate investor will help you reach your financial goals and get money out of the way.
0:40.8	So you can launch yourself towards those dreams.
0:42.9	Scott, I am very excited to bring on Evan Miller today to talk about real estate and the Air Force and CFP stuff.
0:51.9	This is a fun conversation.
0:53.5	Absolutely.
0:54.4	Evan has picked up a cash flow positive asset, including houses and a cash flow positive spouse.
1:00.5	Every year for the last eight years in a row and it's really enabled him to build a solid portfolio and go full-time into real estate investing.
1:08.0	All right, Mindy, we have a new segment of the money show called Money Moments where we share a money hack, tip or trick to help you on your financial journey.
1:15.8	And today's money moment is this may seem like an obvious way to save some money, but a reusable water bottle versus buying one.
1:23.0	This goes for plastic bags too.
1:24.8	Just bring your own.
1:25.8	This not only helps to planet, but also helps your pocketbook.
1:28.8	I've got three of them.
1:30.3	These little now gene water bottles cost me 20 bucks, never go anywhere without them.
	...

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