Get More Cash Flow RIGHT NOW with Boomer Philbrick
In This Episode:
In This Episode:
Building and housing are not going to cause the looming recession, they are going to help get us out of it. Knowledge is power, and understanding how the system works means you can maximize it. As real estate investors, one way to do this is through cost segregation. Whenever you buy a property, every single component inside it will be depreciated. Cost segregation is simply the process that accelerates this depreciation. It works on new and existing properties, you can do it anytime, and this week’s guest is here to explain it clearly and show you how he makes it as easy on your CPA as possible.
Boomer Philbrick helps people save money on taxes as well as gives them financial freedom and more immediate cash flow. He has been working in the real estate industry for 6 years and serves people by teaching them how to retain more of their money. He joins Jim on the show this week to talk more about cost segregation, what it is and what the process entails, and how you could benefit from it.
There are so many benefits of buying real estate and depreciation is one of them. It is a return on real estate that so many people ignore, but cost segregation allows you to have more money right now, to either buy another property, fix it up, or pay off debt. Listen in this week to learn more about why this is a great way to save taxes and get more cash flow right now, how the process works when you buy a property, and a good way to wrap your head around it. Boomer shares four questions he asks clients when they buy a property, some common misconceptions about cost segregation, how Donald Trump took advantage of this tax law to save money, and how you can do the same. If you don’t know anything about cost segregation, you don’t want to miss this episode.
How Good Do You Want to Be?: A Champion’s Tips on How to Lead and Succeed at Work and in Life by Nick Saban and Brian Curtis: https://www.amazon.com/How-Good-You-Want-Champions/dp/0345500849
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