Build Wealth Through Connections with Fred Moskowitz
Sep 25, 2024In the latest episode of the "Keep What You Earn" podcast, Shannon delves into alternative investing with guest Fred Moskowitz. This episode highlights the critical role of networking and strategic planning in building wealth.
Fred emphasizes the importance of engaging with a community of investors. He suggests joining local real estate groups to learn directly from successful investors. "Conversations with those who are actively involved in your area of interest can be incredibly beneficial," he advises. Shannon echoes this sentiment, recommending that entrepreneurs leverage their CPAs for introductions to knowledgeable individuals. "Your tax advisor has an inside look at who's doing well. They can be a valuable resource for networking," she notes.
Building connections through CPAs and financial advisors is another key strategy. While these professionals might not always offer direct investment advice, their extensive networks can provide valuable opportunities and partnerships.
Fred and Shannon then shift the conversation to tax-efficient investing. Fred explains that mortgage note investing can generate significant tax liabilities due to interest income and capital gains. He suggests mitigating this by using tax-advantaged accounts like Roth IRAs or 401(k)s. "Utilizing retirement account funds for note investing helps grow wealth without incurring hefty tax liabilities," he says.
Shannon adds to this by discussing tax planning in real estate investing. She underscores the importance of long-term tax planning to avoid conflicting financial goals. "Timing is everything," she asserts, explaining how multi-year planning can help manage financial moves more effectively.
Fred highlights the tax advantages available to real estate investors, such as cost segregation and bonus depreciation. These strategies can result in significant tax savings by accelerating depreciation deductions. He also mentions using 1031 exchanges to defer taxes by reinvesting proceeds into another property.
Education and proactive learning are recurring themes in their discussion. Shannon stresses surrounding oneself with knowledgeable individuals and joining communities where investment terminology becomes second nature. This helps avoid “analysis paralysis” and encourages informed decision-making.
Fred offers resources for those interested in mortgage note investing. He directs listeners to his websites, fredmoskowitz.com or giftfromfred.com, where they can access a special report on note investing. He encourages building relationships with other investors to learn and grow.
The episode wraps up with Shannon reiterating the importance of a long-term approach to investing and tax planning. By forming strategic connections and continuously educating oneself, investors can navigate the complex world of alternative investments more effectively and build sustainable wealth.
This episode of "Keep What You Earn" serves as a compelling reminder that financial success often stems from strategic planning, continuous education, and meaningful connections. Whether you're a seasoned investor or just starting out, the insights from Shannon and Fred provide valuable guidance for your wealth-building journey.
Fred Moskowitz is an educator and best selling author who has trained countless investors from all walks of life on how to create passive income streams of their own. As a fund manager, Fred manages a mortgage note investment fund and is considered an industry veteran within the note investing arena. Fred teaches the concept that individual investors are able to step into the shoes of the lender, shoes of the lender, through note investing, and effectively "be the bank". Fred takes pride in collaborating with investors to help them grow and profit in the note space, as well as being a trusted and valued resource in the arena of alternative investments. His new book, titled "The Little Green Book Of Note Investing, has recently launched.
Instagram: @thefredmoskowitz
Facebook: @thefredmoskowitz
Website: www.fredmoskowitz.com
Get Fred’s book here: https://www.fredmoskowitz.com/the-little-green-book-of-note-investing/
What you'll hear in this episode:
05:06 Seek experienced advice, be cautious of skepticism.
07:11 Building relationships through asking questions and learning.
13:19 CPA provides counsel on tax planning strategies.
16:16 Unaware of tax benefits for real estate.
20:05 Strategic planning with CPA for long-term benefits.
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The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn.
