As always, thanks for walking through complicated topics in a way that most can understand. After listening to and watching Coach Carson for a couple of years, I feel like I could sit down with Coach for lunch and it would be like talking to an old friend.
@CoachChadCarson3 жыл бұрын
Thanks Mike! I really appreciate the comment. And I do imagine sitting down next to you (and everyone watching) as I create it. So, I really appreciate that feedback.
@petergedenberg38853 жыл бұрын
Nicely done and easy to understand. Thank You for the great info.
@CoachChadCarson3 жыл бұрын
thanks for watching, Peter!
@andrewgehrig Жыл бұрын
Such a great and detailed video! Thank you!
@lvteachme9732 жыл бұрын
Keeping it simple! The Best Real Estate Teacher on KZbin. Thanks Coach!
@CoachChadCarson2 жыл бұрын
Thanks for the kind feedback! That means a lot!
@ponzianomanning30713 жыл бұрын
Great video! The "depreciation recapture" part is a tricky tax law that catches many investors off guard that's
@CoachChadCarson3 жыл бұрын
true. what the IRS giveth, the IRS taketh away!
@rajuralla93452 жыл бұрын
I liked the Inheritance tax exemption. Thank you so much for the video, it is very useful like your other videos.👍
@fordfj19742 жыл бұрын
Stepped up basis x 10 or 20 properties sounds like an awesome legacy to leave to heirs
@CoachChadCarson2 жыл бұрын
yes it does!
@glendarivera78242 жыл бұрын
Learned so much in this video. Hi coach me and hubby first time as a landlord and this will be our first time to file taxes on our 3 rental properties and also we both work full time. Do you think it will save us on taxes if one of us quit? And any more additional tips for first time filing taxes for out rentals I would really appreciate it. Thank you coach.
@CoachChadCarson2 жыл бұрын
Thanks for watching Glenda. It won't necessarily save you money on taxes if you quit your job. But if one of you quit and then used that time to become a real estate professional (just google it for now - I may do a video on it in the future), then you might be able to save on taxes by using more of your passive losses. But with 3 rental properties, I doubt you'd save more in taxes than you could make at your full time job. As for tax filing tips, I just suggest being very organized with your bookkeeping. Whether you use a spreadsheet or Quickbooks (my approach), track and label all your transactions, and save proof of your expenses and any transactions (like the settlement statement when you bought the property). You can save all these docs digitally these days. Then get a good CPA who understands real estate. We've found ours to be a key team member over the years. Hope that helps!
@MyWealthBuildersRealty3 жыл бұрын
Yep! I’m dying with my real estate! 😅
@CoachChadCarson3 жыл бұрын
Me too!
@Reneming3 жыл бұрын
Love it
@CoachChadCarson3 жыл бұрын
🙌🏼
@aseasonedveteran59153 жыл бұрын
Mobile homes do not qualify for the IRS depreciation, just because they can be moved to a different location. It has axles and a tow hitch. Whereas Module is made at the factory but assembled on a fixed foundation and considered permanent as a regular house.
@CoachChadCarson3 жыл бұрын
I'm not a CPA, but the CPA's I've talked to believe the IRS rulings and tax laws allow you to depreciate a mobile home (even with axels) that you rent out. The ones I have are fixed to the ground and rented with long-term leases. Here's a good discussion with some references to the tax codes: forum.mobilehomeuniversity.com/t/depreciation-schedule-for-mobile-homes/1467/3
@rexrockefella45863 жыл бұрын
Coach, are all of those red tacks in the back signify all of your properties!? If so congratulations!! I'm trying to step up my game. So far 5 doors in spain 1 door in orlando...trying to find those multifamily options in florida and texas...
@CoachChadCarson3 жыл бұрын
Hey Rex. No, those pins in the map are places my family and I have visited. My real estate is in a MUCH smaller location here in South Carolina. Congrats on your purchases and good luck on the next ones!
@rexrockefella45863 жыл бұрын
@@CoachChadCarson Wow that's equally as impressive! Thanks for the great Content!
@leo_olive3 жыл бұрын
Rex, I am working on a new multifamily construction opportunity in North Texas. Two phases, 40 units each. In case you are interested, shoot me an email at leo@olivetreerealestate.com
@lisasmelter47733 жыл бұрын
Love this video Chad!!! So well done. I love how you simplify things.
@CoachChadCarson3 жыл бұрын
Thank you for watching, Lisa! Glad it was helpful.
@jean-francoistamby32733 жыл бұрын
Great video Chad !
@CoachChadCarson3 жыл бұрын
Thank you Jean-Francois!
@tyjameson74043 жыл бұрын
Amazing video Coach 👍🏼💪🏽🙌🏽🙏🏼👌🇺🇸Thanks Buddy 👍🏼
@CoachChadCarson3 жыл бұрын
Thanks Ty🙌🏼🙏🏼🤛🏼
@maksym.kondratenko3 жыл бұрын
Thank you so much! I think you only the one honest person in KZbin! I'm very happy to found your. I'm afraid Biden will eliminate 1031 and inheritance soon. 1031 is a great opportunity for new investors, I wish we could have it forever.
@CoachChadCarson3 жыл бұрын
thank you! yes, it's possible 1031 and capital gains could be changed. But it's hard to predict exactly. 2021 will be interesting.