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Why I Switched from Flipping to Investing in Multifamily with J Scott

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Manage episode 353146876 series 3391742
Content provided by Leti and Kenji. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Leti and Kenji or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://ro.player.fm/legal.

We are excited to share an exclusive interview with J Scott from our 2022 Fast FIRE to Freedom Summit, which was held in August 2022.

J has a wealth of real estate experience and is the author of several books, including Recession-Proof Real Estate Investing and The Book on Estimating Rehab Costs.

J and his wife started investing in 2008 and flipped over 400 homes between 2008 and 2016. After years of house flipping, he transitioned to investing in large multifamily properties. This move was prompted by his study of economic cycles. He realized that flipping houses or "transactional real estate" as he called it, wasn't a good investment during a downturn. On the other hand, multifamily investing, more specifically, cashflowing multifamily properties is what he found to be a great asset class to be in during a downturn.

This interview is packed with learning pearls and lessons. One of the biggest lessons he learned was not paying attention to taxes early on in his career. One of the benefits for new investors is that you can learn from other people's mistakes! The lesson here is, lower your tax burden as soon as possible so you can grow your money faster with compounding.

As you know, here at Semi-Retired MD, we focus a lot on helping doctors and high-income professionals lower their taxes with cashflowing rentals. If you want to learn more, here are two strategies you can use: Real Estate Professional Status and Short-Term Rental Tax Loophole.

If you're interested in investing in a real estate syndication and you want to be notified about future deals, email us at syndications@semiretiredmd.com

Have someone who you think should be featured in a future episode? Comment and let us know on our socials! Also, don’t forget to share and leave us a 5 star review on Apple Podcasts if you loved this episode!

Wait there’s more…If you enjoy the Doctors Building Wealth podcast, check out our FREE real estate training, Ignite Your Journey. Get exclusive, actionable advice and resources about creating financial freedom through cashflowing rentals! Click the link to enroll.

For more DBW, Semi-Retired MD, and content from Leti & Kenji, follow us on your favorite platform.

Follow this link to listen or listen on Apple Podcasts, iTunes, Spotify, or Stitcher! Don't forget to share with a friend and leave us a review on the iTunes app if you enjoyed it!

Be part of the conversation! Follow our general Semi-Retired MD Facebook page and then join our physicians or professionals group!

Semi-Retired M.D. and its owners’, presenters’, and employees are not in the business of providing personal, financial, tax, legal or investment advice and specifically disclaims any liability, loss or risk, which is incurred as a consequence, either directly or indirectly, by the use of any of the information contained in this podcast. Semi-Retired M.D., this podcast, and any online tools, if any, do NOT provide ANY legal, accounting, securities, investment, tax or other professional services advice and are not intended to be a substitute for meeting with professional advisors. If legal advice or other expert assistance is required, the services of competent, licensed, and certified professionals should be sought. In addition, Semi-Retired M.D. does not endorse ANY specific investments, investment strategies, advisors, or financial service firms.

  continue reading

100 episoade

Artwork
iconDistribuie
 
Manage episode 353146876 series 3391742
Content provided by Leti and Kenji. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Leti and Kenji or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://ro.player.fm/legal.

We are excited to share an exclusive interview with J Scott from our 2022 Fast FIRE to Freedom Summit, which was held in August 2022.

J has a wealth of real estate experience and is the author of several books, including Recession-Proof Real Estate Investing and The Book on Estimating Rehab Costs.

J and his wife started investing in 2008 and flipped over 400 homes between 2008 and 2016. After years of house flipping, he transitioned to investing in large multifamily properties. This move was prompted by his study of economic cycles. He realized that flipping houses or "transactional real estate" as he called it, wasn't a good investment during a downturn. On the other hand, multifamily investing, more specifically, cashflowing multifamily properties is what he found to be a great asset class to be in during a downturn.

This interview is packed with learning pearls and lessons. One of the biggest lessons he learned was not paying attention to taxes early on in his career. One of the benefits for new investors is that you can learn from other people's mistakes! The lesson here is, lower your tax burden as soon as possible so you can grow your money faster with compounding.

As you know, here at Semi-Retired MD, we focus a lot on helping doctors and high-income professionals lower their taxes with cashflowing rentals. If you want to learn more, here are two strategies you can use: Real Estate Professional Status and Short-Term Rental Tax Loophole.

If you're interested in investing in a real estate syndication and you want to be notified about future deals, email us at syndications@semiretiredmd.com

Have someone who you think should be featured in a future episode? Comment and let us know on our socials! Also, don’t forget to share and leave us a 5 star review on Apple Podcasts if you loved this episode!

Wait there’s more…If you enjoy the Doctors Building Wealth podcast, check out our FREE real estate training, Ignite Your Journey. Get exclusive, actionable advice and resources about creating financial freedom through cashflowing rentals! Click the link to enroll.

For more DBW, Semi-Retired MD, and content from Leti & Kenji, follow us on your favorite platform.

Follow this link to listen or listen on Apple Podcasts, iTunes, Spotify, or Stitcher! Don't forget to share with a friend and leave us a review on the iTunes app if you enjoyed it!

Be part of the conversation! Follow our general Semi-Retired MD Facebook page and then join our physicians or professionals group!

Semi-Retired M.D. and its owners’, presenters’, and employees are not in the business of providing personal, financial, tax, legal or investment advice and specifically disclaims any liability, loss or risk, which is incurred as a consequence, either directly or indirectly, by the use of any of the information contained in this podcast. Semi-Retired M.D., this podcast, and any online tools, if any, do NOT provide ANY legal, accounting, securities, investment, tax or other professional services advice and are not intended to be a substitute for meeting with professional advisors. If legal advice or other expert assistance is required, the services of competent, licensed, and certified professionals should be sought. In addition, Semi-Retired M.D. does not endorse ANY specific investments, investment strategies, advisors, or financial service firms.

  continue reading

100 episoade

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