There are several of managing your finances that frees you from constantly trading your time for money. Imagine getting a monthly email letting you know that a significant amount of money has been effortlessly deposited into your account – a clear sign of your passive income…
In this episode, Tim and Paul, alongside Thomas Castelli, a Tax Strategist and Investor, discuss strategies for blending accounting and real estate for passive income. They suggest surrounding oneself with good people, utilizing the right tools, and investing in real estate syndications to harness the wealth-building potential highlighted in books like "Rich Dad Poor Dad" and "The Richest Man in Babylon."
The conversation discusses the importance of planning for taxes, understanding tax laws, and navigating complexities to reduce risks and maximize tax benefits for real estate investors.
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WHAT TO LISTEN FOR
5:26 Thomas’ Firm together with passive investors
9:50 Guiding Clients through Property Investment Challenges
12:25 Impact of Passive and Non-Passive Income
30:02 Real Estate Professional Status
RESOURCES/LINKS MENTIONED
Tax-Free Wealth by Tom Wheelwright
Think and Grow Rich by Napoleon Hill
Rich Dad Poor Dad by Robert Kiyosaki
The Richest Man in Babylon by George Samuel Clason
CONNECT WITH US
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Tim Lyons, Greg Lyons and Paul Dircks are Registered Representatives of Finalis Securities LLC, member FINRA/SIPC. This material has been prepared for information and educational purposes only, and it is not intended to provide, nor should it be relied on for tax, legal, or investment advice. Investors should consult with their own tax, legal, and financial professionals before investing. Podcasts reflect the opinions of only the authors who are Registered Representatives of Finalis and do not reflect the views of Finalis, Inc. or any of its subsidiaries or affiliates. Real estate investments are generally highly risky. They can be volatile, unpredictable, illiquid, and are subject to ebbs and flows and market shifts. Investors also risk the loss of all principal investments. Any third-party information provided therein does not reflect the views of Finalis or any of their subsidiaries or affiliates.
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