What I’m Reading
Calculated Risk Blog - People often ask me where I get a lot of my market data on stocks, real estate, and the economy as a whole. Calculated Risk has been one of my long standing favorite blogs that has many seasoned finance and economics experts writing across a variety of topics that impact every day investors like you and I who are trying to make the most educated investment decisions. If you want to have hot takes on fresh market data and reports, this is definitely a must add to your reading list.
Wisdom of the Week
In light of tax time, I figured I’d highlight one of my favorite tax loopholes that many overlook…The Augusta Rule. What is the Augusta Rule? The Augusta Rule, known to the IRS as Section 280A, allows homeowners to rent out their home for up to 14 days per year without needing to report the rental income on their individual tax return. As a business owner or entrepreneur, understanding ways of reducing your tax liability is absolutely critical and is unfortunately often overlooked. This is not tax advice, just a friendly reminder that there are many different tax strategies available to be leveraged based on your specific needs or situation.
Question of the Week
Question: I really enjoy how you lead and communicate with others, and your track record speaks for itself. Do you do coaching 1 on 1, have a mastermind I can join, or have any other programs for sale that would allow me to get in closer proximity to learn from you? (Tiffany - Rhode Island)
Answer: I have offered 1 on 1 consulting for many years and only work with 10 hand-selected investors or business owners at a time. It's always been a passion of mine to help business owners and investors scale their leadership, teams, and bank accounts. Being that I run my own multi 7-figure businesses full time, I’ve limited it to just 10 spots based on my bandwidth. That said, I currently don’t offer any other year-round masterminds or coaching programs, but have considered it due to demand from this amazing community. What are your thoughts? Should I roll out a paid mastermind or coaching program in the future? If you are a seasoned investor or entrepreneur and want to get on my 1 on 1 mentorship waitlist, REPLY back to this with the word COACHING.
Pic of the Week
This past week my grandmother, Beverly Aitchison passed on. Growing up, she never missed a basketball game. She taught me that it was a crime to have bread without an ungodly amount of butter. She was convinced that white wine was always better with a few ice cubes in it. And she set the bar on what it meant to love and support your family unconditionally no matter what happened. I’ll miss her dearly and forever be grateful for the wisdom she shared with me and the memories we created together. Father time remains undefeated, so don’t forget to hug your loved ones often and maximize every moment you can together. You never know when it’ll be your last opportunity.
Something I’m Excited About:
The market is softening quite a bit in the real estate world and while many people are worried about a crash due to rising interest rates, raging inflation, and global economic peril, I am cashing up, strengthening my alliances, and getting ready for what I believe is going to be a season of INSANE buying opportunity. I’ve talked with many mentors, peers, and large institutional investors and it seems to be the same sentiment across the board. This will be one of the greatest wealth-building opportunities of our lifetime and I highly recommend you position yourself with a plan, a team, and a mentor who can help you capitalize on it. When will those opportunities come? Well, some are already presenting themselves, but be patient. The deeply discounted deals don’t always come early in a correction. I believe we’ll start to see some really great opportunities in early/mid 2023 and you don’t want to miss what’s coming.
Onward and upward,