244: “Unfair” Taxes and Unfair Advantages with Linda Weygant, CPA

There are a lot of reasons to love being a real estate investor. One of the most impressive is the “unfair” tax treatment investors get by the US Government – and we mean that in a good way!

On today’s episode of The BiggerPockets Podcast, we sit down with CPA Linda Weygant to learn more about those incredible tax benefits. You’ll also hear how she discovered the power of real estate through her clients, and how that led her to begin her own investing journey.

Linda shares how she navigates the messy world of investing in properties that have HOAs, as well as how she uses her “unfair advantages” to succeed where others fail. Finally, as a CPA, we have a special “tax-focused-Fire-Round” where we talk about LLCs, deductions, and much more!

In This Episode We Cover:

• How Linda got into real estate
• Why the government likes real estate investors
• What her first deal looked like
• What to look out for when using credit cards for rehabs
• Should you be debt free before investing?
• Debt to income ratio
• Why she chose a townhouse as a first investment
• Her HOA story
• The landlord vs HOA mentality
• How she got her positions in the HOA boards
• Rent-By-The-Room apartments
• How to manage Rent-By-The-Room
• Investing with family and getting an LLC
• How one should handle their business
• Where she’s headed in the next 10 years
• And SO much more!

Links from the Show

• BiggerPockets Forums
• Sept. 27, 2017 NYC Meetup w/Brandon Turner (Darren’s Event)
• BiggerPockets Calculators
• Partnerships, Landlording, and Getting Started in Real Estate with Meghan McCallum
• Meghan McCallum’s BiggerPockets Profile
• BiggerPockets Meetup Events
• Brandon Hall’s BiggerPockets Profile

Books Mentioned in this Show

• Set for Life by Scott Trench
• The Book on Rental Property Investing by Brandon Turner
• Finding and Funding Great Deals by Anson Young
• The Book on Tax Strategies for the Savvy Real Estate Investor by Amanda Han and Matthew MacFarland
• The 4-Hour Workweek by Timothy Ferriss
• You’ve Got This by Will Matthews

Fire Round Questions

• Writing off a firearm?
• Meet 750hrs on a Single Rental Property?
• Is education cost a tax deductible business expense?

Tweetable Topics:

• “The costs to maintain a property go up every year.” (Tweet This!)
• “Always be open for something new.” (Tweet This!)
• “Always treat your tenants with respect.” (Tweet This!)

Connect with Linda

• Linda’s BiggerPockets Profile

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