All this talk about Austin and Miami.

I bought a new build 4 bedroom 9 minutes from downtown Athens GA for $289k.

Play golf 3x a week in a t-shirt in Dec. Live bands at 4 venues 4x a week (pre covid). Largest airport in the world 1:15 away. 4 craft breweries.
ZERO traffic at 5:30pm any day of the week.

A football stadium that fits 90k people that I can hear the roar from my back deck.

Farmers market with fresh food of all types multiple days a week.

Phenomenal fine dining and cocktail bars.

Property taxes are $3000.
20+ epic events a year downtown including Twilight (best road cycling event in the country), Athfest (week long downtown music festival, St Paddies day festival, halloween parade folks travel from hours around, + home SEC football game weekends.
I spent a year in Chicago and 5 in Boston.

I don't miss a single thing.

I'll never live in a major metro again.

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More from @sweatystartup

14 Dec
PSA:

The Cares Act, passed during COVID, included a token for real estate investors.

You can now catch-up passive losses from depreciation on any asset purchased in the last 3 years that you "forgot" or "missed out" on bonus depreciation with.

GET YOUR COST SEGS DONE
You can also carry losses from this year BACK 5 YEARS TO INCOME MADE BETWEEN 2015 and 2020.

Buy a few properties this year? Get cost segs done, bonus depreciate aggressively, amend returns, and get a check from Uncle Sam for taxes you paid a long time ago.
Here is a thread on how this works.

You can and you should cost segregate and bonus depreciate your small rental property or beach house you put on Airbnb when you aren't using it.

And obviously do it on ANY AND ALL commercial real estate.

Read 5 tweets
10 Dec
One of the most productive 7 day stretches of my professional career.

Now for a date night with the wife! What are you drinking this evening ReTwit?
Smoked whiskey sour with Elijiah and double egg whites.
This week:

Soft commitments of over 1/2 the capital needed to fund the largest deal of our lives (by 3x).

Loan commitment letters on 3 deals.

15 of my 1 hour self storage consults.

75 pages of the crash course!
Read 4 tweets
10 Dec
Just got off the phone with a guy who heard me three weeks ago on @myfirstmilpod and reached out for some self storage consulting.

Between that hearing the episode and reaching out he sent letters and made calls to 50+ local self storage owners.
I just helping him analyze a deal that is absolutely SMOKING and will add at least $1MM to his net worth over the next 18 months.

Gotta love meeting people who are just built to take action and make things happen.
Tech guy. Sold company. $2MM he now wants to allocate towards real estate.

Three weeks ago his plan was to hand it to a wealth management firm to put in equities.

I think he’ll have 5 properties in a year!

Read 4 tweets
7 Dec
The reason large companies use most of our tax credits and deductions:

Small business owners like us don’t apply for them and don’t know they exist.

Don’t listen to this guy, spread the word and learn the tax code!

It is created to encourage certain behavior. Utilize it!
I don’t mind paying taxes at all.

I’ll pay $250k in property taxes in 2021. A ton of payroll taxes and transfer taxes and mortgage taxes and sales tax.
But the government incentivizes what I do to add value to the world (buy and improve physical structures in our country) so I won’t pay income tax.

And I’m not ashamed!
Read 4 tweets
7 Dec
I just had a conversation with a friend who has purchased and developed 10+ buildings over the past 5 yrs.

Hadn’t done a cost seg or accelerated depreciation on any.

He’s looking at a $200k+ tax refund soon.

Cares act allows you to go back and get that money!
Get on @1245consulting’s schedule and talk to @baldridgecpa about a better tax plan!!

A lot of folks are missing out on the best part of being in the real estate world!
Read 4 tweets
5 Dec
I decided this morning I wanted to put together a basic "crash course in real estate" guide. Something I'd have loved to read when I was 22 getting started.

7 hours later and I'm 19 pages and 7,500 words in.

Take away my character limit and all hell breaks loose!
And the wife is upset we didn't do our normal Saturday walk and she got no help putting the boys down for their naps.

"When you're in the zone you just gotta let it ride, honey."
First four pages for anyone who cares ImageImageImageImage
Read 17 tweets

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