Trust This with Joseph Seagle

Ricardo Rosales shares his journey from troubled teen to successful entrepreneur in the real estate industry. He started flipping houses after being inspired by a TV show and used his W-2 job to secure financing. However, he faced challenges and learned valuable lessons along the way. After becoming a real estate entrepreneur, he realized the importance of serving others and started a virtual assistant (VA) company called Top of the Line VA to help real estate investors grow their businesses. Ricardo emphasizes the importance of self-development and unlearning bad habits to achieve personal and professional growth. He emphasizes the importance of building habits, such as practicing gratitude and reading, to foster personal growth. Ricardo also discusses how he handles naysayers and finds inspiration from mentors and family. Ricardo concludes by encouraging listeners to constantly reinvent themselves and pursue their dreams.

Takeaways

*Challenges are meant to be conquered, and a growth mindset is essential for success.
*Learning from experience and being open to change are crucial for personal and professional growth. *Building a successful business requires adapting to market conditions and finding new opportunities.
*Self-development and continuous learning are key to overcoming obstacles and achieving long-term success. *Building habits, such as practicing gratitude and reading, can lead to personal growth and success.
*Don't let the opinions of naysayers discourage you. Focus on your own goals and stay true to yourself.
*Seek inspiration and guidance from mentors, family, and other successful individuals. Invest in education and personal growth to continually evolve and adapt to new opportunities.
*Transitioning from one identity to another is a natural part of personal and professional growth.
*Virtual assisting and sales and marketing can provide valuable support for real estate investors and other businesses.
*Family and mentors can serve as a constant source of inspiration and guidance.
*Constantly reinvent yourself and embrace change to pursue your dreams and achieve personal fulfillment.

---Contact Ricardo---
https://linktr.ee/ricardorosales

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Resources Mentioned
Top Of The Line VA | https://www.linkedin.com/company/top-of-the-line-va/about/
Chapters
00:00 Introduction and Background
02:56 From Troubled Teen to Military Service
05:49 Entering the Oil and Gas Business
07:44 Discovering Real Estate and Flipping Houses
10:11 Challenges and Lessons Learned in Real Estate
14:56 Scaling the Flipping Business and Transitioning to Wholesaling
25:57 The Importance of Self-Development and Growth Mindset
29:04 Unlearning Bad Habits and Embracing Change
31:10 Conquering Fasting and Creating a Supportive Environment
32:52 Building Habits for Growth and Success
37:23 Handling Naysayers and Surrounding Yourself with Quality Relationships
39:34 Finding Inspiration and Mentors
42:23 Investing in Education and Personal Growth
45:30 Transitioning from Real Estate Investor to Entrepreneur
53:50 Virtual Assisting and Sales and Marketing
56:55 Inspiration from Family and Mentors
59:39 Constantly Reinventing Yourself and Conquering Your Dreams

Greg Bond shares his journey from single-family homes to commercial properties, including the challenges and successes he encountered along the way. Greg is a successful commercial real estate investor and property management guru. He started out in his family’s map-making business. But when technology made paper maps obsolete, Greg learned how to educate himself on new ideas so he’s comfortable with taking risks. He started out in residential but he’s quickly shifted into industrial real estate, using 1031 exchanges and accelerated depreciation to maximize his return on investment. Greg shares insights and experiences from his real estate and property management career and what intrinsically has influenced his aspirations for a better life.

Takeaways

*Transitioning from single-family homes to commercial properties can provide higher returns and cash flow. *Having a reserve fund is essential to manage risks and handle unexpected expenses.
*Diversification across different asset classes can help mitigate risks and provide stability in a changing market.
*Building relationships with tenants and maintaining good cash flow are key to success in real estate investing. Establishing a morning routine can provide uninterrupted time for thinking, strategizing, and preparing for the day.
*While negotiating is important, it's crucial not to be fixated on getting the best deal and potentially missing out on good opportunities.
*Cashflow and employee management are common struggles in business, and finding solutions through training, accountability, and getting the right people in the right positions is key.
*Investing in education and surrounding oneself with knowledgeable and experienced individuals can greatly contribute to personal and professional growth.
*Using key performance indicators (KPIs) to track progress and make informed decisions is essential for success in business. Inspirational figures, such as local pastors and sports coaches, can have a profound impact on shaping aspirations and values.

Resources Mentioned
Greg's Property Management Services https://www.tpmguys.com/
1031 Exchanges: https://www.irs.gov/pub/irs-news/fs-08-18.pdf
Sharper Business Solutions: https://sharperprocess.com/
Robert Kiyosaki: https://www.richdad.com/about/robert-t-kiyosaki
Dave Ramsey: https://www.ramseysolutions.com/
Central Florida Realty Association (CFRI): https://www.cfri.net/default.aspx
Get in touch with Greg Bond: [email protected] or [email protected]

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Join Joe Seagle and Assad Ahmad from Fitbiz CPAs as they delve into essential tax strategies and tactics for small business owners and real estate investors. Based in sunny Florida, Fitbiz CPAs specializes in tax services for investors.

Assad breaks down key tax deductions for real estate investors, emphasizing the benefits of the real estate professional status election and the short-term rental loophole. By leveraging strategies like bonus depreciation, investors can drastically reduce their tax burden and potentially receive significant refunds.

They also explore common tax mistakes, such as using the wrong entity structure for real estate investments. Assad shares a cautionary tale of a flipper who unknowingly incurred hefty taxes due to improper structuring, highlighting the importance of consulting with specialized CPAs.

As the conversation unfolds, Assad provides valuable insights into entity structures for investors at different levels, emphasizing the importance of aligning structures with investment goals and portfolio size. He also reveals lesser-known tax strategies, like putting children on payroll to fund tax-advantaged accounts. Throughout the discussion, Assad and Joe debunk common misconceptions, address potential red flags for IRS audits, and stress the importance of strategic tax planning tailored to individual circumstances.

Whether you're a novice investor or seasoned entrepreneur, this episode offers indispensable advice for optimizing your tax strategy and maximizing returns. Join the conversation and empower yourself to navigate the complex world of real estate taxation with confidence.

—Follow Asad—
@asadahmadcpa
For help with your tax planning and strategy, visit https://www.FitbizCPA.org

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Welcome to another episode of Ask Joe! ️ Attorney Joe Seagle answers one of the most frequently asked questions: how to take title to your real estate. Joe recommends that married couples take title with both spouses as "tenancy by the entirety" for maximum asset protection. This means if one spouse faces legal issues, the property remains protected. For unrelated parties, joint tenancy with rights of survivorship or tenants in common are common options. However, forming an entity like an LLC or land trust can offer better asset protection and easier management. Joe emphasizes the importance of consulting a real estate attorney, especially if you're buying property in Florida, to understand the best way to hold title based on your specific situation. He also highlights the importance of having a will to ensure your property is distributed according to your wishes.

Don't miss this comprehensive guide on how to title your property for optimal protection and peace of mind.

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Join Attorney Joe Seagle and Gregory Emmer as they discuss the intricacies of asset protection in real estate , covering the differences between hard money and private lending, the importance of borrower relationships , and property evaluations. They also discuss the impact of wholesale assignments and share lessons from the Great Recession that still shape their practices today . Gregory provides insights into current real estate market trends, emphasizing shifting property prices and the need for risk management. He breaks down unique loan offerings like niche loans and flexible terms, highlights the application process and quick closing times ⏱️, and shares advice on credit scores, interest rates, and handling financial difficulties. The episode wraps up with personal reflections on inspiration and life lessons Who is Greg Emmer? Gregory has been a major player at EquityMax since 2008, growing the business from lending in 6 states to 47, with specialty loans for mobile homes, rural properties, and small loans under $50,000. With a background in real estate and finance, Gregory is dedicated to helping real estate investors succeed across the country. Connect with Gregory
PH: 954-267-9103
[email protected]
LinkedIn

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Unlock the power of land trusts to protect your assets and enhance your privacy with Land Trusts in Florida, 11th Edition by experts Mark Warda and Joe Seagle—get your copy now! https://mylandtrustee.com/book/

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