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Codie Sanchez

@Codie_Sanchez

May 4, 2021 • 8 tweets • 3 min read • Read on X

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Best way to make more $$, keep more of what you make.

If you own a property and pay taxes on it... You're gonna wanna read this bad boy. (earmuffs govt)

How to apply for and get agricultural tax credits by selling $1500 plants a year?

If you own a home in Texas let's say it's worth $1M.
You're paying almost $20k a year in property taxes. Yikes.

So when my bud Cody told me I'm an idiot and forgot something I listened....

He said you could get 25-75% off your tax bill by selling some leafy greens...

@baldridgecpa

Since Cody is no slouch - he runs multiple 7 fig businesses while hunting something like 200 days a year, my ears perked.

HE HAS IT FIGURED THE F OUT.

*then let us know what we missed* @baldridgecpa since you're the man on taxes!

So here's how I see it:
- You can do this w/ animals but ya know... those are work
- For a nursery you sell $1500 worth of plants a year to get the credit
- Aka not much to turn liability = asset
- could be a whole post on layering rev streams & tax credits on your casa

How Cody's playing it:
- Aspens in Montana (his home) sell for $400
- In Oregon sell for $100
- See if shipping costs/allowances are reasonable
- Then get pre-orders for trees in MT
- Ship when order big enough
- 300% arbitrage
- & write off his VERY large ranch property

How I'm going to play it?
- we're building a tiny house on 1 property
- I'm gonna add a tiny greenhouse ($600 on amazon)
- I inked a deal w/ my mom in law, she's the distributor
- started an etsy shop, she's gonna sell sucky's to the masses
- We need a name - ideas??

Long story short if I can make $20k from growing plants I now pay hundreds for a month... just call me Farmer Sanchez.

Also, we're dropping a thread a day for the next 30 days (generally on cash-flowing business ideas) so make sure to SMASH that follow button so you don't miss ANY of these

And check out my newsletter, link in bio ;)

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More from @Codie_Sanchez

Codie Sanchez

@Codie_Sanchez

Dec 18

How to spot a scam...

They promise "passive income."

Here's the problem with passive income (and what you need to build instead):

I've spent my career investing in & buying biz's.

First at huge investment firms, then on the side, and now for my own funds.

And there's a truth I need to share with you:

Passive income is a myth.

If money for nothing was real, wouldn't everyone be doing it?

In reality, generating "passive" income ALWAYS requires significant work upfront.

Take real estate:

Read 21 tweets

Codie Sanchez

@Codie_Sanchez

Dec 17

I learned the secret to wealth building.

It isn't crypto, a trust fund, or a startup.

It's a simple framework that could transform broke people into millionaires.

Here’s the unsexy but effective path to wealth (Evolutionary Wealth Theory):

If there’s this great secret, why aren’t more people screaming about it? If it’s so simple, why don’t more people do it?

Because it’s boring, it’s hard, and it’s slow.

Scott Galloway sums it up perfectly:

“I can get you rich, that's the good news. The bad news is, the answer is slowly.”

Plenty of tactics could get you rich.

Startups. Stock investments. Real estate.

But if your mindset & skills aren’t aligned, none of those strategies will work.

That's where the Evolutionary Wealth Theory comes in... There are 4 levels:

Read 17 tweets

Codie Sanchez

@Codie_Sanchez

Dec 14

70% of people live paycheck to paycheck.

This will not be you and I.

Here's exactly how I manage my personal finances (The Personal P&L):

Track Your Money

It all starts here.

This may be the SINGLE most important thing you can do for your finances.

Treat yourself like a business. I use a Personal P&L (profit & loss).

If you aren't tracking, take this sheet now:
contrarianthinking.biz/3VswGFE

Do a COA Analysis

COA = Course of Action

I break down different scenarios to see how it impacts my bottom line.

What if I got a $10K raise? Started a side hustle? Cut my eating out budget in half?

Seeing the numbers always motivated me to take action to grow my wealth.

Read 16 tweets

Codie Sanchez

@Codie_Sanchez

Dec 12

This guy is an MD who swears you can heal yourself with an animal-based diet.

I asked him about the parts of our food supply making us unhealthy and fat.

His answers surprised me.

Here’s what he said:

First… HOW did it get this bad?

Why is everything slowly killing us - and can we stop it?

Turns out, food research is old, funded by pharma, & wildly difficult to modernize.

Paul Saladino is hopeful RFK Jr can start to turn the ship around.. but it's a big ship:

Seed Oils

You've probably heard seed oils are "bad for you." But do you know why?

- "Canola" isn't even a real thing
- Seed oils like canola were originally used as ENGINE lubricants

The picture Paul paints will give you chills:

Read 11 tweets

Codie Sanchez

@Codie_Sanchez

Dec 11

Crypto. NFTs. Sports bets. Dropshipping.

Stop thinking you’ll get wealthy by jumping on the next trend.

Give yourself better odds, do this instead:

This Bezos quote will re-wire your brain.

Amazon, titan of innovation, did not use a strategy based on trend-guessing.

Instead, they focused on certainties:

- People will always want low prices
- People will always want fast delivery
- People will always want a wide selection

The problem is, betting on timeless principles feels slow.

- It’s not sexy.
- It won’t win you hype on social media.
- It might even look stupid at first.

But over time, it creates unstoppable momentum...

Read 17 tweets

Codie Sanchez

@Codie_Sanchez

Dec 10

How to stay poor:

1. Never take risk.
2. Take risks you don’t understand.

If you want to buy a profitable business, here are 9 ways to protect your downside:

All you can do with risk is mitigate it.

You can never remove it entirely.

The best deal is a bad deal avoided.

Here are 9 quick tips on how to spot a deal you should avoid…

1. Simplicity = green flag

I sat down to do DD for a multi-million dollar deal. The owner had some impressive spreadsheets & projections.

But when I asked to see the tax returns?

Bottom line was, the business didn’t make money.