Real Estate Investing: Should You Buy Raw Land? - 225

Your Money, Your Wealth

Realestate, Income, Investing, Personalfinance, 401k, Rothconversion, Retirement, Education, Taxes, Socialsecurity, Personalfinances, Finance, Retirementplanning, Investments, Stocks, Business, Roth, Fiduciary, Ira

2.3 • 681 Ratings

🗓️ 11 June 2019

⏱️ 33 minutes

🔗️ Recording | iTunes | RSS

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Summary

The Land Geek Mark Podolsky shares his method for turning unwanted dirt and "rock farms" (aka raw land) into cash. Plus, can you aggregate rental properties into an LLC to take advantage of the qualified business income deduction? And can you avoid state taxation on your required minimum distributions (RMDs) if you move to a state that doesn’t tax retirement accounts? Transcript & show notes: http://bit.ly/YMYW-225

Transcript

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0:00.0	I'm taking their asset, which has now become for them a liability.
0:04.0	I'm buying it 25 cents on the dollar, and I'm converting that into an asset for somebody that really wants it at an irresistible price.
0:12.0	It's literally that simple.
0:14.0	That's the land geek, Mark Podolsky.
0:17.0	Today on Your Money, your Wealth, he shares his method for turning unwanted dirt and rock farms into cash.
0:23.3	Plus, can you aggregate rental properties into an LLC to take advantage of the qualified
0:27.7	business income deduction? And can you avoid state taxation on your required minimum distributions
0:33.1	if you move to a state that doesn't tax retirement accounts. But first, let's talk about land.
0:38.7	That is, assuming Joe can get our guest's name right.
0:41.4	Here are Joey Anderson CFP and Big Al Clopine CPA.
0:45.6	Alan, this is kind of right up your alley.
0:47.3	You've been a real estate investor for, what, 67 years?
0:49.9	Yeah, I thought it was more like 85.
0:52.8	But, yeah, I've been a real estate investor for a while.
0:55.2	But never land.
0:56.4	I've always invested in single-family homes and then later apartments.
1:00.1	And we have a guest that actually creates passive income through land.
1:04.4	The land geek.
1:05.4	The land geek, as a matter of fact.
1:07.2	Let's bring them on.
1:08.6	We have Mark Poldowski.
1:11.1	How did I do?
	...

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