May 13, 2025 • 40 mins
Can you legally pay zero taxes as a real estate investor? Should that even be your goal? CPA Marcus Crigler challenges conventional wisdom in this eye-opening conversation about navigating the post-bonus depreciation landscape in real estate investing.
As the 100% bonus depreciation benefit phases out (down to 60% in 2024), investors need to rethink their tax strategy. Marcus offers a refreshing perspective: sometimes paying some taxes is smarter than spending your last dollar trying to avoid them completely. His practical advice focuses on staying below the critical 24% tax bracket threshold rather than aiming for zero, potentially saving you thousands while maintaining business stability.
Beyond tax strategy, Marcus delivers a masterclass in financial management for real estate entrepreneurs. He breaks down his four-phase business model (Hustle, Secure, Expand, Exit) and explains why most investors fail by skipping the crucial "Secure" phase. His recommendation? Establish consistent owner's compensation and maintain cash reserves equal to three months of fixed expenses before attempting expansion.
The conversation takes a fascinating turn when Marcus reframes how we think about spending: "An expense is not an expense, it's an ROI." This profound mindset shift transforms financial decision-making, ensuring every dollar spent generates returns. Coupled with practical bookkeeping advice and insights into where savvy investors are parking their cash in today's market (money markets, self-financing, and hard money lending), this episode delivers actionable wisdom for investors at any experience level.
Whether you're a seasoned real estate professional or just starting your journey, this conversation will fundamentally change how you approach your business finances. Subscribe now and share this episode with other investors who need to hear this message!
To connect with Marcus, go to www.beccfo.com and fill out their contact form.
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:02):
Welcome back to another episode of the Wisconsin
Investor Podcast.
I am again excited, as always,because I have one of my good
buddies joining us today, whoI'll introduce here in a second.
Before I do that, though, Ialways give a little commercial
for Wisconsin DiscountProperties.
If you guys aren't familiarwith us, that's who sponsors the
show.
We have off-market deals everysingle week hitting your inbox.
(00:22):
People always say man, what'syour biggest struggle?
I ask them that.
They say I can't find any deals.
Well, we send them right toyour inbox every single week.
6 am Get on the buyer's list.
To do that, go towisconsindiscountpropertiescom.
Real easy.
You put in a little bit ofinformation and bam, you're
added to the list and every weekyou're going to get deals sent
to you.
So with that, let's get intotoday's episode.
(00:43):
I got my good buddy, mr MarcusKrigler, here.
What's up, marcus?
Speaker 2 (00:46):
What's up, brother?
How are you?
Speaker 1 (00:47):
I'm good man.
I'm excited to have you on herebecause you're not a Wisconsin
boy but you work with Wisconsinboys.
You've been helping us out alot over the last year and a
half two years, and tell theaudience a little bit about you,
your company and what you guysdo.
Speaker 2 (01:00):
Yeah, so good question.
So Wisconsin-based podcast.
Yet I work all over the country, right, and so the reason why
Corey and I met we met atCollective Genius.
I'm sure Corey's discussed thaton the podcast in the past, but
I'm a CPA, so my accountingfirm is Beck, cfo and CPA, and
we work with real estateinvestors like Corey all over
(01:21):
the country, and so what we dois we focus on helping people
make more money, save more moneyand build wealth, and we do
that through our accounting firmbusiness.
We have bookkeeping, we havetax, we have tax strategy, we
have accounting, we have CFOconsulting services.
So we have a lot of differentstuff that we work with.
But we work with real estateentrepreneurs, right.
We love that niche.
(01:41):
We love those people that arein the business every single day
trying to make it happen.
The passive investor that's notreally the target we target,
right.
So we work with those that arelike Corey, that is, they're
doing deals every single day,they're churning properties and
ultimately, we help them rungreat businesses, and that's
what our goal is.
Speaker 1 (02:00):
That's awesome.
And so when you say you don'treally work with a passive
person, when you say that, areyou talking about the guy who
just invests in a syndicationtype of a situation?
Speaker 2 (02:07):
Yeah, that's right.
So there's a lot of.
You know, because of the amountof real estate entrepreneurs
out there, there's so many realestate passive investors out
there where you can go and youknow, I'm sure a lot of your
clients or a lot of the peoplethat listen to the podcast, sell
their properties to thosepassive investors, right?
Those people that, hey, I justwant to, I just want to hold
real estate and I want to letthe management come.
(02:27):
Maybe I've got a W-2 job orI've got a whole nother business
that has nothing to do withreal estate, but I like real
estate as an investment vehicle.
Those people we don'tnecessarily always, always work
with.
We usually work with that realestate entrepreneur that then
wants to turn that real estatebusiness into real estate
passive holdings and we helpthem do that and we help with
(02:48):
all the tax strategies and allthe bookkeeping strategies, all
the accounting strategies thatcome along with that.
Speaker 1 (02:53):
I love that man, let's get into it.
Because tax strategy to me,this is one of my favorite
topics, which is weird.
Growing up and getting intoreal estate, I never thought
taxes would be one of myfavorite things to talk about,
but I love legally paying $0 intaxes.
If I can talk to everybody alittle bit about, like, what are
some things right now, whenthis launches, we're probably
going to be past everybody's youknow normal April 15th deadline
(03:15):
by the time, by the time wereleased this podcast.
But talk about, like, what aresome things you're seeing just
in the tax world right now, asthings are changing, and what
are people doing to mitigatetaxes right now?
Speaker 2 (03:26):
Yeah, well, that's a great question.
So most of us over the lasthalf a decade or so really took
advantage of especially ifyou've been in real estate
really took advantage of the TaxCuts and Jobs Act, which really
took into effect in 2017, butreally fully took place in 2018
and has kind of been going sincethat point in time.
(03:47):
And the reason why I talk aboutthis is because that is the act
, that is the law that put intoaction the 100% bonus
depreciation right, and so whenmost people think real estate
tax strategies, they thinkdepreciation, they think buying
assets and being able to writean appreciating asset off, and
(04:07):
being able to write off anappreciating asset, right, and
so that's a lot of you know.
Really, 2018 to 2024, that'swhat a lot of people really
focused on, or, sorry, 2022.
But then in 2023 and 2024, thatdepreciation started to wean
away, right, and so if you don'tknow what I'm talking about,
that's okay.
We can talk a little bit aboutmore specifically what that is.
(04:30):
But basically, depreciation isjust simply a tax write-off.
It's not cash that necessarilyleaves your bank, but the IRS
allows you to write off aportion of any investment
property or, quite honestly, anyinvestment asset.
It doesn't have to necessarilybe a property, but any asset
over a period of time, and theIRS tells you how long you can
write it off.
And so what Trump did back whenhe was elected, the first time
(04:55):
he enacted the Tax Cuts and JobsAct, which was that 100% bonus
depreciation or a lot of thingsin that, but 100% bonus
depreciation was one of thosethat's been weaning away, and so
a lot of my clients have beenlike hey, what do I do?
What do I do with all of thedepreciation that I was able to
offset our current income with?
And now I'm not able to do that?
(05:15):
And so some of the answer isnot the best answer.
Right, some of it's taxes.
Right, some of it's we've gotto pay a little tax.
It's not fun, but you know,this is the reason why we do.
What we do in our organizationis because sometimes it makes
(05:36):
sense to pay taxes.
Speaker 1 (05:36):
And I know, I know, I know from people.
Speaker 2 (05:37):
They're like I don't even want to hear you say that.
Speaker 1 (05:40):
That's.
I was about to end the podcastright now.
I was like wait all right, wehad enough of.
Marcus, I'm just kidding, I'mjust kidding.
Speaker 2 (05:44):
I don't blame you, but that's the answer Right now
is we are not in a period oftime where you're able to get
your taxes down to zero unlessyou're heavily investing.
Well, the problem with heavilyinvesting right now is we are
also overall in the real estatemarket in a kind of a cash-type
(06:05):
perspective, and so there's nota lot of real estate that's
necessarily being bought andpurchased and held by real
estate entrepreneurs, because alot of times they're having to
dispo those properties right now, and so once upon a time you
could maybe buy 10, 15properties in a year, which for
somebody that's new may soundlike, oh, I'll never be able to
do that, but for somebody likeCorey that's been doing this 10,
(06:28):
15, buying 10, 15 properties ina year, like he could do that
in a month.
Right and so you know, thesepeople were so invested in
buying these properties andoffsetting their taxes.
Now they don't have that andthe IRS is not paying for some
of that down payment.
That's.
The other thing with thisdepreciation is you get such a
nice benefit from writing offthat property that you may be
(06:51):
low to no cash out of pocket bybuying that property and you
might get a tax benefit.
Well, some of those have goneaway.
So what do you do now?
What do you do now?
Well, first off, you have toget out ahead of it.
The days of waiting until theend of the year and saying, oh
well, I think I bought enoughreal estate, let's cost seg them
.
Cost segregation is anotherterm that may be unfamiliar.
(07:14):
It's just simply a study thattells you what you can write off
faster than others.
And so the gone are those dayswhere you can just stop planning
and write off all your realestate and then, at the end of
the day, you've got a loss andyou're like, ooh, I did tax
planning.
Well, that's not reallyplanning.
That was just it just happenedfor you.
(07:35):
Now we've got a plan.
Now those little deductionsthat we may not have cared about
as much, now they're much moreimportant, and so it's about
getting out ahead of it.
It's about communicating withyour tax accountant, and the
reality is it's about having adiscussion of how much is the
right of tax to pay.
Because, what you'll find isthat and I know I'm going a lot
(07:59):
here, but-.
Speaker 1 (08:00):
No, it's good, this is great.
Speaker 2 (08:03):
At a lower income level, your taxes are much lower
, right, we kind of allunderstand that, right.
But once you get there's a gapin the in what we call the
marginal tax rates, okay, andyou go from 24% paying 24% in
taxes to 32% in taxes Once youhit that amount of income.
Speaker 1 (08:23):
Okay.
Speaker 2 (08:23):
So, once we get a hold of you, our goal is to get
you below that 24%.
Yes, we would love to get youto zero, right, but we also know
the economic environment we'rein.
I don't want you to spend yourlast dollar trying to not pay
taxes, right, because at the endof the day, then you're not in
business, right?
And so what we try to do is getyou out of the top rates, get
(08:46):
you to the lower rates, and then, if we get you even lower,
great.
But when you're paying 20percent in taxes, 15 percent in
taxes, that's way better, waybetter situation than maybe what
you could have been in the past.
So that's where we really startto focus our time, and there's
a lot of different strategiesthat you can look at there, but
that's the goal right Stay outof the 32%, stay below in the
(09:10):
24% and, because of how marginaltax rates work, if your highest
tax bracket is 24%, generallyyou're going to be in the teens
as far as your effective taxrate.
So, that's what we want to do.
Speaker 1 (09:25):
Okay, well, that's really fascinating, man.
I always knew about thebrackets and the different
step-ups and different.
I didn't realize there was asection of such a big gap
between the 24 to 32.
That is a big difference.
And it's not what you make,it's what you keep.
Right, right, that's exactlyright.
Speaker 2 (09:50):
Yeah, wow.
So what you're seeing overall,what you're seeing overall, you
know, let's say, bonus is bonus,still 30.
Is it 30% this year?
40%?
What is it this year?
40% in 2025.
Now the expectation is that youknow Trump's back in office.
He has stated multiple timesthat a hundred percent bonus
depreciation is going to comeback.
However, it's not passed yet.
So you know, just like justlike when we talk about doing
real estate deals, we don'tcount any of our money until it
actually hits our banking.
Speaker 1 (10:09):
That's right.
It's not done until it's closedman.
Speaker 2 (10:12):
That's right.
That's right.
So we feel the same way aboutthe tax code.
We're playing in the in thesandbox that we're we've got
today, and as soon as it changes, we'll look at that new sandbox
and then we'll play in that one.
That's awesome.
Speaker 1 (10:24):
What about like so.
So when I was starting out, wehad a really good mentor that
said, basically get a greatbookkeeper day one and we're
like well, we're not even doinghardly any deals.
Why do we need a bookkeeper?
Like, what are some of thosethings?
Maybe, if somebody's newer outthere, marcus, what are some
things they can do today tostart setting themselves up for
success long-term when it comesto bookkeeping, tax planning,
those types of things.
Speaker 2 (10:49):
So your number one bookkeeping hack if you're
somebody that hey, I haven'tdone any bookkeeping yet and I
don't even know what to do and Idon't know when I'm going to be
able to afford somebody to doit, you can do the simplest and
easiest and cheapest thingyou've got.
You should have an LLC set up.
If you don't have an LLC set up, go get that taken care of.
Okay, that's step one Step.
Go get another bank accountopened up.
With that bank account, you canalso get a credit card, maybe
(11:12):
through that bank, or maybe youcan go.
I prefer this is a little hack Iprefer cashback credit cards.
Here's why I don't need mybusiness to pay for my vacation.
I need my business to generatecash, and so any chance I get my
business to generate cash, I'mgoing to take it Now.
If I want to take that 2% cashback and go put it in a plane,
(11:34):
cool, I can go fly, but I wantto have the opportunity to Heck.
I was just looking at my pointstoday.
It was like $4,000 of pointsfor the first quarter.
Well, guess what?
That's money that goes back inthe business.
That's just what I mean.
Speaker 1 (11:49):
That's a bonus in the business.
Speaker 2 (11:52):
So I love credit cards.
But here's what you do If youhave, I love those credit cards.
For that reason, don't leavemoney on them, of course.
Then, once you have that,you've got your bank account,
you've got your LLC, you've gotyour credit card Every
transaction goes through thoseaccounts.
Yeah, okay, every transaction,no personal.
You don't put personal stuffover there and you don't put
(12:15):
your business stuff on yourpersonal credit card.
And if you can do that, that'sstep one, and what will happen
is, eventually you're going toneed to go to somebody like me
or some other accounting firmand they're going to need to put
it all together into some sortof financial statement.
That way you can go get a taxreturn done.
But that might not be your corepriority If you want to just
(12:40):
start with getting organized.
Getting organized is gettingeverything all in one place.
I'll give you a little hackhere.
I'll give you a little cheat.
Your bookkeeper, youraccounting firm, is going to
take all the information fromyour bank account and your
credit card and the first thingthat they're going to ask you is
write down everything that'spersonal and write down
everything that's business.
That's what they're going toask you first, and so, if you've
separated it out already,you've eliminated that process.
(13:04):
Well, as an entrepreneur, as avisionary, as somebody that
doesn't want to get into details, you definitely don't want to
go through months worth offinancial statements and say,
hey, this was business, this waspersonal.
And, by the way, not just itwas business, it was business
for X, y and Z, because I haveto prove that to the IRS too.
(13:25):
I've got to get you into a spotwhere, if I'm saying it's a
deduction, I got to prove to theIRS that it's a deduction for
you too.
It's not just about bookkeeping.
So getting it all in the samespot's the right way to do it.
And then, eventually, when youget to that spot and, by the way
, 1231 of every year is thatspot for everybody, and so
you've got to get your bookscleaned up as of 1231, no matter
(13:47):
what, you got to be able tohave some sort of financial
statement.
So if you're just starting thebusiness today, you have all
year to kind of get yourbookkeeping squared away.
I wouldn't do it, that's not,that's not what I suggest, but
you do have that.
Yeah, if you started last year,you need to make sure your
books are up to date as of 1231.
(14:08):
So you need your tax returns,yeah.
Speaker 1 (14:09):
That's so good.
I love that idea, cause when I,when we started Marcus, we
didn't know a lot of this stuff.
You know, we had gotten abookkeeping company but we
didn't really like keep up withit.
And then they would.
They would hit us up like everyquarter, every six months, and
be like, hey, can you go backand tell us what all this stuff
was.
And I would get so frustratedbecause I'm like I can't
remember what I did yesterday.
How am I supposed to rememberall this stuff?
(14:30):
So, like, just keeping up withit, it's.
It's now that we, you know, wework with you guys.
You guys have a cool littlesystem that, like, you'll send
us a little ping, you know, acouple of times a month.
That's like, hey, we don't knowwhat these charges are.
Go and put some detail in andthen it categorizes them.
And it was like, oh my gosh,it's a laundry list of like a
(14:53):
hundred things and I'm like dangit, like this is the last thing
I want to do.
I want to go do deals, I don'twant to be out categorizing
expenses.
You know, I love that idea.
So, getting back into into someof the other things that you
work with a lot of you know some, some of the bigger boys in our
industry, right, what are youseeing trends-wise those guys
are doing?
(15:13):
Are they stashing more cashnowadays?
Are they investing in a lot ofdeals?
What are you seeing for trendsoverall as far as what some of
the guys are doing?
That are some of the big boysthat you work with out there
across the United States?
Speaker 2 (15:27):
Yeah.
So if I would say the onesimilarity across all of them
would be, I would.
I would sum it up in one wordand shift Okay, right.
So I think I don't thinkthere's anybody today operating
the way they operated 24 monthsago and I would say, depending
(15:48):
on that operator, they are atthe end of the shift, in the
middle of their shift, orthey're just now realizing they
need to shift Right.
And so that's kind of wherewe're at as far as my opinion,
from the inside, looking at it,there's a lot of businesses
shifting, and not necessarilyfor a bad thing, meaning that's
(16:10):
a negative thing.
But I think what we're seeing iswhat we, what we're getting
more comfortable in, is whattoday's market is, and we're not
preparing for any.
You know, big expectationchanges in the market.
We're just going to kind of.
You know it feels like myclients for the most part are
hey, yeah, there's black swanevents, there's things that can
(16:32):
pop up, but we feel like we canpredict the pricing of the
market, which is all real estateinvestors ever care about.
Right, can we predict thepricing of the market?
Because if we can predict thepricing, we're good.
It doesn't matter if themarket's up or down, we just
need to be able to predict it.
And so my clients feel likethey're confident in getting
their ARVs right, which is newand at one point in time their
(16:55):
ARVs were way too low becausethe market was going up.
And then they shifted and theirARVs were way too high and they
were overpaying for properties.
And now we feel like, okay, Ithink I know what the ARV is.
I've got to change some thingsin my business to make this work
, but I can make it work.
Speaker 1 (17:13):
Yeah, no, that's so.
True man.
We saw that too in our business.
When interest rates skyrocketed, everybody pulled back.
Dude, we ended up flipping aton of properties which we don't
flip hardly anything in ourbusiness but everything pretty
much for us is wholesale or ifit's a bigger deal we're going
to look at, maybe buying andholding it.
But we saw that we had to startflipping a bunch of stuff
because none of our investorbuyers were confident in what
(17:35):
they could buy that thing forand then resell it for four or
six months down the road.
And now we've seen probably wesaw it a little bit earlier, I
would say within the last 12months here in Wisconsin we've
seen a lot of investors kind ofcome back to the table and now
they're pretty comfortable,they're buying deals on a
regular basis.
The same guys are showing up atall the every week.
They're showing up looking atdeals and they're staying pretty
(17:56):
consistent.
So I think we've seen that nowLike it's nice to just have.
Like you said, I don't carewhere interest rates are at, as
long as I know what the market'sgoing to roughly be.
I can now I can make my buysright.
I can now I can make my buysright, because we make our money
when we buy right.
Speaker 2 (18:10):
So yeah, absolutely, and I think that's a really good
point that you made there.
As far as the fix and flipperscoming back into the market, I
you know, again, no market cansustain not having activity in
it, right?
So the activity has got to comeback.
Obviously, individual companies, they can't stop flipping and
(18:32):
keep the business open, sothat's got to come back.
But I think the other thingthat has helped with, you know,
all of the kind of the flippingcoming back, is we need it,
right.
This is such a necessity in our.
If you look at all of the MSAs,the only housing that's getting
(18:55):
built is so far outside of thatMSA that flippers are the only
option to get good housinginside of a city, and so there's
a need for it.
There will always be a need forit.
Somebody asked me one time.
They said, hey, if I wanted tonever have to worry about the
ups and downs of real estate,what should I know?
(19:17):
And I said, well, obviouslythat's not ever going to be the
case, but you should't have tobuy it at a discount.
You can allow your constructioncompany to create the value in
it.
And so you know, a lot of timeswe talk about this with people
(19:37):
that wholesale and flip, where,okay, I buy direct from the
seller and then I flip it.
Well, if you buy direct fromthe seller at a retail price
what I'll say retail for aflipper you didn't really buy it
at a discount, right, right,you didn't.
So we talk with our people thatdo wholesale and flip.
They should buy it at awholesale fee, they should get a
(19:59):
wholesale fee for it, and then,if they add extra value to it,
then they should get a profitfrom the flip too.
So there's two profit bucketsin that transaction.
Profit buckets in thattransaction, and I think what a
lot of people have realized inflipping is that we've got to at
least be in one of thosebuckets.
We have to, Otherwise we'regoing to be in trouble, if not
(20:21):
both of them.
Speaker 1 (20:21):
Yeah for sure.
I think you brought up a reallygood point.
I've been preaching this to alot of people that I talk to on
the investment side who areworried about a market crash.
That's everybody's concern, andI've been here.
I've been in real estate since2016.
Every single year I've had thenaysayers that are like, well,
the market's going to crash, themarket's going to crash.
And here we are, nine yearslater, and they're all kicking
themselves.
They weren't buying deals backin 2016.
(20:42):
Same is going to be true today.
The inventory is so low acrossthe country, especially for
affordable housing.
Right, and what you're talkingabout here, marcus, is they
can't build an affordable houseanymore for what a flipper can
buy it for and fix it up andthen resell it for it.
So the competition, yourcompetition, is not new
construction.
Not only that, your competition.
New construction, like you said, is outside of the MSAs.
(21:04):
They can't, they're notbuilding brand, unless it's some
kind of government subsidizedprogram or something like that.
But there's no developer that'sgoing in and buying infill lots
in the city and developing itfor what somebody could buy an
existing property for and fix itup and sell it for.
Speaker 2 (21:20):
Not competitively priced right.
I mean because you have to goin, you have to destroy
something that's alreadyexisting right.
These MSAs are already full.
So you've got to wipe out abuilding, you've got to wipe out
a block, and then your cost perlot is so high to do that.
That it just doesn't make sense.
So you're right, you have tohave subsidized housing and a
lot of times they're not doingthat.
They're not doing single familyhomes, they're going to do a
(21:42):
multi right, because they canbuild up.
They can put 150 units on thatsize of a lot instead of 10.
On that size of a lot insteadof 10.
Speaker 1 (21:49):
Correct.
Yep, they're going to get somedensity going in there because
there's a shortage, exactlyRight.
And they want that tax base uptoo right.
Speaker 2 (21:58):
A hundred percent.
That's the other thing.
Speaker 1 (22:00):
Yep, that's another piece.
What about?
Like some of the newconstruction guys, you work with
new construction guys at all.
Marcus, yeah, you dono-transcript.
Speaker 2 (22:38):
And so part of that is you're building infill lots.
There's infill lots atdiscounts of developers that
didn't do well or maybe theyneed to get out from underneath
them, or they didn't plan on theinterest rate heights or
whatever.
So buying a discounted lot isno different than buying a
discounted house, and so in thatrealm there's people that are
(23:00):
going out finding thosediscounted lots that make sense
to put some sort of unit on, andthen it just depends on what
that investor's doing.
I've been a big proponent ifyou are an investor that's
looking to buy and hold and Ilook at buying and holding as a
20-year play, not a five-yearplay.
So I look at buying if you'rebuying and holding.
(23:21):
Otherwise it's just a long-termflip.
Speaker 1 (23:23):
Right, oh, that's a good point.
I've never thought of that.
Speaker 2 (23:25):
And so if you're buying and holding to your point
, you can't really lose money.
Right, you can buy today,prices are high, everything's
high, but it's going to behigher in 20 years.
Speaker 1 (23:35):
We know that.
Speaker 2 (23:36):
Yeah, or we all were fooled.
One of the two, yeah, yeah, butI think the.
I think that I missed mine.
I'm losing new construction.
Speaker 1 (23:48):
Yes, so the new construction.
Speaker 2 (23:51):
So the other reason so what I'm really a big
proponent of is for newconstruction is to build a rent
right.
Build a rent your own assets.
Because here's what I tellpeople If you're going to own
that for 20 years and you buy a30 year old property, it's 50
years old in 20 years, Right,Right.
But if you buy a new one,you've got all the deferred
maintenance is off the table.
(24:12):
You've got the most efficienthouse possible in the market.
You've got everything that youwant, Plus, you've got the best
product.
Now here's where your issue isis that you're competing against
the inner city rentals.
That's sometimes a problem, butthere's still areas that make
it work.
Or you can come in and build anew house on a torn down lot or
a fire lot or something likethat that we see.
(24:33):
But I think the new builds Ireally like the new builds If
you want to keep it for the next20 years that's a great asset
to have in your portfoliobecause it's new, it's fresh,
it's a good asset.
Because it's new, it's fresh,it's a good asset and a lot of
times you're going to get betterrenters and you're going to get
better interest on those newinterest rates, better financing
(24:54):
on those new properties.
Speaker 1 (24:55):
Yeah, that's a great point.
You know one of the Like that.
Speaker 2 (24:58):
Go ahead.
Speaker 1 (24:58):
Oh, as I say, one of the things I always hear too, or
I let people know too, is likethey're looking at maybe a big
rehab, right, like they'relooking at maybe a big, a big
rehab, right, and it's going toneed a new furnace and an AC and
windows and a roof and sidingand all this stuff.
And I'm like I love those Ifyou can get a discount, like if
you can buy it at the rightprice, because if I'm going to
hold that, that asset, just likeyou said, now my foundation is
still 50, 60 years old orwhatever the case is, but if
(25:20):
everything else in there I'mbasically replacing and I'm
starting fresh, I can't rebuilda brand new house for when I can
remodel the entire thing andtake all that CapEx and just do
it all in one fall swoop.
And now, like you said,similarly, I don't have to
budget as much for CapEx in thefuture.
I've got a lot of that stuffcovered and now I've only got a
handful of things that couldpossibly go wrong in that short
(25:43):
period of time.
And so, even if I'm not cashflowing quote, unquote much my
tenants are paying down my debt,my property is going to
appreciate like crazy and I'mcreating that big spread in
between what the property isworth and what is owed the
longer that it goes on, Like yousaid, in 20 years.
I always tell people and peopleI listen to this podcast
regularly like you could buytoday and look like an idiot on
(26:04):
what price you paid for it, andin 20 years you're going to look
like a genius and you are.
You are so smart to buy thatproperty.
They'll forget.
20 years ago they called you anidiot for what you paid for it
today, Right?
Speaker 2 (26:15):
Sure, and we see that now.
Right, like, I mean, how manypeople have you talked to?
And they're like, yeah, Ibought, like all these houses at
$30,000 when nobody was buying,you know, in 2008 and 2009,.
It's like people were lookingat me like I was an idiot buying
these houses and I'm like, well, no, you were brilliant and, by
the way, this is the one of thethings that I always talk about
(26:37):
and maybe we'll pivot to thisbut, right, cash, and so they,
they had opportunity to buythese houses, and I think that's
where you know, so many peopleare at today is that we had
these big, this big swing, andfor a lot of us, we were able to
to do really well in that inthe housing market over the last
(26:57):
, you know, especially thosecouple of years after COVID.
But now you know it's comingback to normal and we need cash
right.
And so what the smart, what thesmart investors doing is they
put that cash on the sidelineand they're waiting to pounce.
Right, some of them arepouncing a little bit.
Now I'm starting to see somemoney come off the sideline a
little bit, but I still thinkthere's a lot of money sitting
(27:20):
out there waiting for discounts.
Speaker 1 (27:21):
Yeah, and is that what they're doing with the cash
?
They're just going in?
Speaker 2 (27:29):
and making cash offers on these houses that
normally they were gettingfinancing for, or what are you
seeing the best use for theircash right now?
Yeah, two different spots thatI'm seeing at places where
people are storing cash.
The number one spot is just inmoney market or treasuries right
, you're getting four to fiveand a half percent in that and
it's hard to argue against thatbecause it's so safe.
But then, well, I should saythree different places.
Then they're becoming their ownhard money lender, right, so
(27:50):
they're lending on their ownproperties that maybe in the
past they would have gotten andgot third party financing or
whatever.
And then I'm seeing a lot ofpeople getting into the hard
money lending business.
Maybe, not in the tune of, hey,lending $20 million a month or
something like that, but havinga million dollars sitting on the
sideline and deploying it intotheir market and you know, and
(28:14):
helping maybe flippers or youknow some of the other people
that I always tell people.
If you want to get into hardmoney, lending as a real estate
investor, super easy only lendon a property that you would
have bought for the, for the,for the purchase price you would
have bought of that, and inworst case scenario, you end up
with a property anyway.
Yeah, exactly, so yeah a lot ofpeople are doing that.
Speaker 1 (28:34):
Yeah, we've actually started to do a little bit of
that too, like we're not tryingto go out and start a fund or
anything like that right now,but for people that we have
relationships with and that weknow, especially our employees,
a lot of, we lend a lot of ouremployees, but we're starting to
do a little bit of friends andfamily hard money lending and
we'll see where that goes andwe'll see if it continues to
grow and all that sort of stuff.
But I enjoy it.
Like you said, it's, it's funto get involved with some deals
(28:55):
and partner with some otherinvestors and be a part of that
whole process, more than justgiving them the deal, you know,
and supplying the deal.
Now we can also supply themcash, potentially for their
deals as well.
So that's been kind of fun,that's been kind of exciting.
Speaker 2 (29:07):
Yeah, makes it even a more of a one-stop shop, right?
If you can, if you're like, hey, here's the deal.
Oh, and, by the way, I can helpyou out with the financing on
it.
That's that.
That helps them out a lot too,so I would encourage you to keep
, you know, going deeper intothat as you, as you see fit.
Speaker 1 (29:24):
Yeah, for sure, For sure, Marcus.
What are some other things outthere that you see just going
back to?
I want to go back to kind ofthe newer investor.
Let's say they're out there andthey're like man, I don't have
cash, right, what are they doing?
Or how are you seeing, like,what would your advice be to
somebody to try to get theirstart?
Like, what are they doing asfar as from a cash management
position or from a planningposition or something like that?
Speaker 2 (29:47):
Totally, totally so.
The first thing I will tell youis recognition where you're at
in business, and so there's fourphases of business.
Every business, everyentrepreneur, goes through it.
You hustle, you got to secure,you got to expand, and then
ultimately you exit.
And no matter what you do,you're going to kind of be in
(30:08):
that realm, right, and so mostof your newbies are in that kind
of that hustle stage, for sure.
And what happens in the hustlestage you're going to remember.
So you're going to hustle,secure, expand, exit.
What happens in the hustle stageis we don't go through this
period of security, right, andso in hustle, you should be
(30:29):
thinking about how do I securemy business the best possible
before I expand?
What does that mean, okay?
Well, that means a lot ofdifferent things are going to
happen, right?
Number one we're going to havea cash position that is
supporting our monthly expensesOkay, that includes your
(30:50):
personal expenses, okay.
And so, as an entrepreneur, youdon't have the ability to
expand unless your business ispaying your salary, right, and
so that's a big belief that Ihave is you're not a business
owner until you're getting asalary out of your business and
it's the same salary everysingle month, no matter what the
(31:13):
month is, no matter if it's agood month, a bad month.
You get the same money everysingle month.
That's number one.
Got to have that.
Some people call that profitfirst.
I don't.
I don't call that profit first.
I call that paid to work Likeyou were you're working in your
job.
Speaker 1 (31:29):
You're getting paid to work.
Yeah, pretty basic yeah.
Speaker 2 (31:33):
And then so that's, that's the number one thing.
The number two thing is havinga cash position to where it's
it's in accordance with yourfixed expenses.
So if you're sending out, let'ssay, $5,000 a month in
marketing and you know you got a$2,000 a month VA and you might
have maybe $1,000 a month inother software costs, so maybe
(31:54):
it's like $8,000 a month infixed costs.
That's probably kind of anewbie fixed cost ratio.
Well, you need to have at leastthree times that in the bank.
That means $24000 bucks so and,by the way, if you want to
increase, this is the hack I'mtelling you.
If nobody listens to anythingfrom here.
(32:24):
listen to this, If you want toyour expense growth based on
your or your, your cash growthbased on your expenses.
So if you want to extend yourexpenses, you got to compile
cash first.
Why do I say that?
The reason why I say that isbecause an expense is not an
expense, that is for anindividual.
(32:46):
As a business entrepreneur, youhave to change your mindset.
Expense is an ROI.
It is expected to give you areturn, and so if, at $8,000 a
month, you can't get to $24,000,$25,000, $26,000, $30,000, you
don't have the right expenses,yet they're not giving you a
(33:06):
return.
So good.
So what happens is that you gotoo fast.
So you're like, oh well, Ican't get to $24,000 in cash, so
I'll just go to $16,000 inexpenses and then I'll be able
to get to $24,000 in cashbecause I'll get the returns off
of that.
It's not how it works, right,and so if you want to go slow,
(33:27):
you'll go fast, that's so good,low is smooth, smooth is fast.
Speaker 1 (33:32):
That's so good.
I just want to repeat that Anexpense is not an expense, it's
an ROI.
I think that's what you said.
Speaker 2 (33:38):
That's right and, by the way, it's different.
That's why we're weird ashumans, because when we go as an
individual if I go to the bartonight, right, that's an
expense, right, there's noreturn on that Matter of fact.
It's probably giving me anegative return.
Speaker 1 (33:53):
Yeah, you're going negative there.
Yeah, right.
Speaker 2 (33:55):
Yeah, but that's personal.
I'm not using my businesscredit card to spend that.
I'm not doing that right.
I might if I'm meeting withCorey right.
Speaker 1 (34:05):
If I'm getting Corey drunk, to charge him more.
Speaker 2 (34:07):
I might do that, but I'm not going to do that.
That's an expense of mypersonal life, but it becomes an
ROI.
I need to make sure it has anROI in my business for any of
those things.
Speaker 1 (34:17):
That is so good.
That's the nugget right there,marcus, I think that was the one
for me.
I just heard that and I'm like,dude, that is so good.
Everything in my business doesas you said.
Then I'm like, well, marketing,duh, right, what's my rate
return on ad spend?
That's an easy one.
But then I'm like thinkingabout our staff and all software
, like anything that we spendmoney on.
What's our ROI on that?
And we can, if you filter itthrough that lens, it makes it
(34:37):
really easy to determine do Ikeep this expense or do I cut
this expense or do I expand thisexpense?
Right, that's right.
Wow, that's so good, dude, Ilove that.
Marcus, uh, we're going to getto the uh, the the question here
.
I know you got a busy day,brother, and I appreciate you
getting in here, man, andhelping out this team and, uh,
people that are listening tothis.
Uh, before we let you go,though, usually we ask what's
(35:00):
your favorite Wisconsintradition or place to visit.
Since you're not from Wisconsin, maybe do you have a favorite
tradition you want to experienceor a favorite place you'd love
to visit.
Speaker 2 (35:10):
Oh, I gotta be Lambeau field.
Yeah, buddy, gotta be Lambeau.
I mean, you know it's not goingto be Aaron Rogers throwing the
rock around, but it'll be allright, maybe, you know, maybe
it'll be all right, jason.
Jordan love will be be a goodquarterback for you guys.
I feel very confident in that.
But, man, I got to think thatthere's that might be one of,
like, the top places.
(35:30):
Like, if I want to go to afootball game, I'm a big Kansas
City Chiefs fan, so don't holdit against me, Sorry, guys, hey
you're an AFC guy.
Speaker 1 (35:39):
We don't hold feelings too hard about AFC
people.
Speaker 2 (35:42):
I know, I know, but everybody hates on.
You know the chiefs.
I was a chiefs fan when we lostevery game.
So you know, I'm, I, I'm there.
So, but other than a chiefsgame, I think Lambeau field
would be the place that I wouldwant to go see a game that is.
There's so much tradition andand it's such a cool place to to
see all the all the justtradition.
(36:03):
That's there for sure.
Speaker 1 (36:10):
Well, dude, maybe just tradition, that's there for
sure.
Well, dude, maybe we'll have todo a reciprocal trade.
I'll get you up here for apacker game, you get me to a
chief's game, because I wouldlove to go to chief's game I
love.
That's one thing I think werespect.
We respect certain teams likethe chiefs fandom.
You know, in in arrowhead, likethe, you know we love that
buffalo.
We're kind of like all right,other than the table thing.
I think it's kind of dumb.
But other than that I I havesomething though.
Speaker 2 (36:23):
Yeah, yeah, I mean.
Speaker 1 (36:25):
I respect it.
I respect their dedication tothe team.
Yeah, that's right.
That's kind of how we are herein Green Bay.
So well, man, I appreciate youbeing on, guys, everybody out
there.
If you got some value out ofthis, please share the episode.
It's not so that we can growand create this huge audience,
but as we talk about on prettymuch every episode now you know
there's a ripple effect out.
There could be.
This episode could be the oneconversation somebody needed to
(36:45):
hear to absolutely change theirlife and get started in real
estate investing and you, by yousharing this episode, that
could be the catalyst for them.
So please share it If you'reout there and you're like hey,
corey, you know, earlier I heardto talk about getting on the
buyers list that Wisconsindiscount properties, but I'm not
ready to do that yet.
I'm just kind of just getting myfeelers out there.
Right, just go to our website,fail to contact us for them and
that'll go to myself or Reese orConnor on our team and one of
(37:06):
us will give you a call andwe'll just have a conversation
with where you're at, what kindof help you need, and we'll try
to point you in the rightdirection and get you connected
to some folks, to get you onyour way to getting involved in
this fun, crazy life we callreal estate investing.
So with that, marcus, any finalthoughts for the audience, or,
if somebody wants to get incontact with you and Beck,
what's the best way to get aholdof you guys and and uh, inquire
(37:26):
about what you guys could dofor them and their, their and
their business?
Speaker 2 (37:31):
Yeah, totally.
So, first off, I want to second, uh, second, corey, share this
episode, make sure and like,subscribe all that stuff.
That that makes the thesepodcasts work.
Here's a here's a little secretfor you If you share this stuff
, what you're going to find isthat people on your contact list
don't know what you do, and ifnothing, else, if you're like,
hey.
I don't care about helping themgrow their podcast whatsoever.
(37:54):
If nothing else, this is goingto help you share what you're
doing and what you're interestedin and maybe that becomes a
partnership.
It may become a deal, maybecome a JV, who knows?
But I know about the communityof real estate and it is a
community and the more you tapinto that community, the more
that you give in that community,the more you receive.
So I highly, highly highlyrecommend that.
(38:16):
Yes.
Speaker 1 (38:17):
That is so good.
Speaker 2 (38:18):
Lastly, if you want to get ahold of us again, we
work with people all across thecountry.
We'd even work with you inWisconsin as long as Corey
allowed it.
We'd even work with you inWisconsin.
As long as Corey allowed it,we'd even work with you in
Wisconsin.
So reach out to us atBeckCFOcom.
You can check us out.
We've got a whole bunch ofdifferent ways to work with us.
We even have a little educationcourse that, if you're like hey
(38:39):
, I don't want to changeaccountants, but I'd love to
learn more about how to becomebetter in my finance you can
learn about that at beccfocom aswell.
Speaker 1 (38:46):
And Beck is B-E-C-C-F-Ocom.
Speaker 2 (38:49):
B-E-C-C-F-O.
That's right.
Speaker 1 (38:51):
Yeah, don't be throwing a K in there in a Beck
no.
Speaker 2 (38:54):
Ks.
Speaker 1 (38:54):
You're going to get some weird websites if you go to
Beck with a K CFO.
That's right, you don't want togo there.
Awesome, marcus.
Thanks for being on, brother.
Thank you guys all forlistening.
Welcome back to another episode of the Wisconsin
Investor Podcast.
I am again excited, as always,because I have one of my good
buddies joining us today, whoI'll introduce here in a second.
Before I do that, though, Ialways give a little commercial
for Wisconsin DiscountProperties.
If you guys aren't familiarwith us, that's who sponsors the
show.
We have off-market deals everysingle week hitting your inbox.
(00:22):
People always say man, what'syour biggest struggle?
I ask them that.
They say I can't find any deals.
Well, we send them right toyour inbox every single week.
6 am Get on the buyer's list.
To do that, go towisconsindiscountpropertiescom.
Real easy.
You put in a little bit ofinformation and bam, you're
added to the list and every weekyou're going to get deals sent
to you.
So with that, let's get intotoday's episode.
(00:43):
I got my good buddy, mr MarcusKrigler, here.
What's up, marcus?
Speaker 2 (00:46):
What's up, brother?
How are you?
Speaker 1 (00:47):
I'm good man.
I'm excited to have you on herebecause you're not a Wisconsin
boy but you work with Wisconsinboys.
You've been helping us out alot over the last year and a
half two years, and tell theaudience a little bit about you,
your company and what you guysdo.
Speaker 2 (01:00):
Yeah, so good question.
So Wisconsin-based podcast.
Yet I work all over the country, right, and so the reason why
Corey and I met we met atCollective Genius.
I'm sure Corey's discussed thaton the podcast in the past, but
I'm a CPA, so my accountingfirm is Beck, cfo and CPA, and
we work with real estateinvestors like Corey all over
(01:21):
the country, and so what we dois we focus on helping people
make more money, save more moneyand build wealth, and we do
that through our accounting firmbusiness.
We have bookkeeping, we havetax, we have tax strategy, we
have accounting, we have CFOconsulting services.
So we have a lot of differentstuff that we work with.
But we work with real estateentrepreneurs, right.
We love that niche.
(01:41):
We love those people that arein the business every single day
trying to make it happen.
The passive investor that's notreally the target we target,
right.
So we work with those that arelike Corey, that is, they're
doing deals every single day,they're churning properties and
ultimately, we help them rungreat businesses, and that's
what our goal is.
Speaker 1 (02:00):
That's awesome.
And so when you say you don'treally work with a passive
person, when you say that, areyou talking about the guy who
just invests in a syndicationtype of a situation?
Speaker 2 (02:07):
Yeah, that's right.
So there's a lot of.
You know, because of the amountof real estate entrepreneurs
out there, there's so many realestate passive investors out
there where you can go and youknow, I'm sure a lot of your
clients or a lot of the peoplethat listen to the podcast, sell
their properties to thosepassive investors, right?
Those people that, hey, I justwant to, I just want to hold
real estate and I want to letthe management come.
(02:27):
Maybe I've got a W-2 job orI've got a whole nother business
that has nothing to do withreal estate, but I like real
estate as an investment vehicle.
Those people we don'tnecessarily always, always work
with.
We usually work with that realestate entrepreneur that then
wants to turn that real estatebusiness into real estate
passive holdings and we helpthem do that and we help with
(02:48):
all the tax strategies and allthe bookkeeping strategies, all
the accounting strategies thatcome along with that.
Speaker 1 (02:53):
I love that man, let's get into it.
Because tax strategy to me,this is one of my favorite
topics, which is weird.
Growing up and getting intoreal estate, I never thought
taxes would be one of myfavorite things to talk about,
but I love legally paying $0 intaxes.
If I can talk to everybody alittle bit about, like, what are
some things right now, whenthis launches, we're probably
going to be past everybody's youknow normal April 15th deadline
(03:15):
by the time, by the time wereleased this podcast.
But talk about, like, what aresome things you're seeing just
in the tax world right now, asthings are changing, and what
are people doing to mitigatetaxes right now?
Speaker 2 (03:26):
Yeah, well, that's a great question.
So most of us over the lasthalf a decade or so really took
advantage of especially ifyou've been in real estate
really took advantage of the TaxCuts and Jobs Act, which really
took into effect in 2017, butreally fully took place in 2018
and has kind of been going sincethat point in time.
(03:47):
And the reason why I talk aboutthis is because that is the act
, that is the law that put intoaction the 100% bonus
depreciation right, and so whenmost people think real estate
tax strategies, they thinkdepreciation, they think buying
assets and being able to writean appreciating asset off, and
(04:07):
being able to write off anappreciating asset, right, and
so that's a lot of you know.
Really, 2018 to 2024, that'swhat a lot of people really
focused on, or, sorry, 2022.
But then in 2023 and 2024, thatdepreciation started to wean
away, right, and so if you don'tknow what I'm talking about,
that's okay.
We can talk a little bit aboutmore specifically what that is.
(04:30):
But basically, depreciation isjust simply a tax write-off.
It's not cash that necessarilyleaves your bank, but the IRS
allows you to write off aportion of any investment
property or, quite honestly, anyinvestment asset.
It doesn't have to necessarilybe a property, but any asset
over a period of time, and theIRS tells you how long you can
write it off.
And so what Trump did back whenhe was elected, the first time
(04:55):
he enacted the Tax Cuts and JobsAct, which was that 100% bonus
depreciation or a lot of thingsin that, but 100% bonus
depreciation was one of thosethat's been weaning away, and so
a lot of my clients have beenlike hey, what do I do?
What do I do with all of thedepreciation that I was able to
offset our current income with?
And now I'm not able to do that?
(05:15):
And so some of the answer isnot the best answer.
Right, some of it's taxes.
Right, some of it's we've gotto pay a little tax.
It's not fun, but you know,this is the reason why we do.
What we do in our organizationis because sometimes it makes
(05:36):
sense to pay taxes.
Speaker 1 (05:36):
And I know, I know, I know from people.
Speaker 2 (05:37):
They're like I don't even want to hear you say that.
Speaker 1 (05:40):
That's.
I was about to end the podcastright now.
I was like wait all right, wehad enough of.
Marcus, I'm just kidding, I'mjust kidding.
Speaker 2 (05:44):
I don't blame you, but that's the answer Right now
is we are not in a period oftime where you're able to get
your taxes down to zero unlessyou're heavily investing.
Well, the problem with heavilyinvesting right now is we are
also overall in the real estatemarket in a kind of a cash-type
(06:05):
perspective, and so there's nota lot of real estate that's
necessarily being bought andpurchased and held by real
estate entrepreneurs, because alot of times they're having to
dispo those properties right now, and so once upon a time you
could maybe buy 10, 15properties in a year, which for
somebody that's new may soundlike, oh, I'll never be able to
do that, but for somebody likeCorey that's been doing this 10,
(06:28):
15, buying 10, 15 properties ina year, like he could do that
in a month.
Right and so you know, thesepeople were so invested in
buying these properties andoffsetting their taxes.
Now they don't have that andthe IRS is not paying for some
of that down payment.
That's.
The other thing with thisdepreciation is you get such a
nice benefit from writing offthat property that you may be
(06:51):
low to no cash out of pocket bybuying that property and you
might get a tax benefit.
Well, some of those have goneaway.
So what do you do now?
What do you do now?
Well, first off, you have toget out ahead of it.
The days of waiting until theend of the year and saying, oh
well, I think I bought enoughreal estate, let's cost seg them
.
Cost segregation is anotherterm that may be unfamiliar.
(07:14):
It's just simply a study thattells you what you can write off
faster than others.
And so the gone are those dayswhere you can just stop planning
and write off all your realestate and then, at the end of
the day, you've got a loss andyou're like, ooh, I did tax
planning.
Well, that's not reallyplanning.
That was just it just happenedfor you.
(07:35):
Now we've got a plan.
Now those little deductionsthat we may not have cared about
as much, now they're much moreimportant, and so it's about
getting out ahead of it.
It's about communicating withyour tax accountant, and the
reality is it's about having adiscussion of how much is the
right of tax to pay.
Because, what you'll find isthat and I know I'm going a lot
(07:59):
here, but-.
Speaker 1 (08:00):
No, it's good, this is great.
Speaker 2 (08:03):
At a lower income level, your taxes are much lower
, right, we kind of allunderstand that, right.
But once you get there's a gapin the in what we call the
marginal tax rates, okay, andyou go from 24% paying 24% in
taxes to 32% in taxes Once youhit that amount of income.
Speaker 1 (08:23):
Okay.
Speaker 2 (08:23):
So, once we get a hold of you, our goal is to get
you below that 24%.
Yes, we would love to get youto zero, right, but we also know
the economic environment we'rein.
I don't want you to spend yourlast dollar trying to not pay
taxes, right, because at the endof the day, then you're not in
business, right?
And so what we try to do is getyou out of the top rates, get
(08:46):
you to the lower rates, and then, if we get you even lower,
great.
But when you're paying 20percent in taxes, 15 percent in
taxes, that's way better, waybetter situation than maybe what
you could have been in the past.
So that's where we really startto focus our time, and there's
a lot of different strategiesthat you can look at there, but
that's the goal right Stay outof the 32%, stay below in the
(09:10):
24% and, because of how marginaltax rates work, if your highest
tax bracket is 24%, generallyyou're going to be in the teens
as far as your effective taxrate.
So, that's what we want to do.
Speaker 1 (09:25):
Okay, well, that's really fascinating, man.
I always knew about thebrackets and the different
step-ups and different.
I didn't realize there was asection of such a big gap
between the 24 to 32.
That is a big difference.
And it's not what you make,it's what you keep.
Right, right, that's exactlyright.
Speaker 2 (09:50):
Yeah, wow.
So what you're seeing overall,what you're seeing overall, you
know, let's say, bonus is bonus,still 30.
Is it 30% this year?
40%?
What is it this year?
40% in 2025.
Now the expectation is that youknow Trump's back in office.
He has stated multiple timesthat a hundred percent bonus
depreciation is going to comeback.
However, it's not passed yet.
So you know, just like justlike when we talk about doing
real estate deals, we don'tcount any of our money until it
actually hits our banking.
Speaker 1 (10:09):
That's right.
It's not done until it's closedman.
Speaker 2 (10:12):
That's right.
That's right.
So we feel the same way aboutthe tax code.
We're playing in the in thesandbox that we're we've got
today, and as soon as it changes, we'll look at that new sandbox
and then we'll play in that one.
That's awesome.
Speaker 1 (10:24):
What about like so.
So when I was starting out, wehad a really good mentor that
said, basically get a greatbookkeeper day one and we're
like well, we're not even doinghardly any deals.
Why do we need a bookkeeper?
Like, what are some of thosethings?
Maybe, if somebody's newer outthere, marcus, what are some
things they can do today tostart setting themselves up for
success long-term when it comesto bookkeeping, tax planning,
those types of things.
Speaker 2 (10:49):
So your number one bookkeeping hack if you're
somebody that hey, I haven'tdone any bookkeeping yet and I
don't even know what to do and Idon't know when I'm going to be
able to afford somebody to doit, you can do the simplest and
easiest and cheapest thingyou've got.
You should have an LLC set up.
If you don't have an LLC set up, go get that taken care of.
Okay, that's step one Step.
Go get another bank accountopened up.
With that bank account, you canalso get a credit card, maybe
(11:12):
through that bank, or maybe youcan go.
I prefer this is a little hack Iprefer cashback credit cards.
Here's why I don't need mybusiness to pay for my vacation.
I need my business to generatecash, and so any chance I get my
business to generate cash, I'mgoing to take it Now.
If I want to take that 2% cashback and go put it in a plane,
(11:34):
cool, I can go fly, but I wantto have the opportunity to Heck.
I was just looking at my pointstoday.
It was like $4,000 of pointsfor the first quarter.
Well, guess what?
That's money that goes back inthe business.
That's just what I mean.
Speaker 1 (11:49):
That's a bonus in the business.
Speaker 2 (11:52):
So I love credit cards.
But here's what you do If youhave, I love those credit cards.
For that reason, don't leavemoney on them, of course.
Then, once you have that,you've got your bank account,
you've got your LLC, you've gotyour credit card Every
transaction goes through thoseaccounts.
Yeah, okay, every transaction,no personal.
You don't put personal stuffover there and you don't put
(12:15):
your business stuff on yourpersonal credit card.
And if you can do that, that'sstep one, and what will happen
is, eventually you're going toneed to go to somebody like me
or some other accounting firmand they're going to need to put
it all together into some sortof financial statement.
That way you can go get a taxreturn done.
But that might not be your corepriority If you want to just
(12:40):
start with getting organized.
Getting organized is gettingeverything all in one place.
I'll give you a little hackhere.
I'll give you a little cheat.
Your bookkeeper, youraccounting firm, is going to
take all the information fromyour bank account and your
credit card and the first thingthat they're going to ask you is
write down everything that'spersonal and write down
everything that's business.
That's what they're going toask you first, and so, if you've
separated it out already,you've eliminated that process.
(13:04):
Well, as an entrepreneur, as avisionary, as somebody that
doesn't want to get into details, you definitely don't want to
go through months worth offinancial statements and say,
hey, this was business, this waspersonal.
And, by the way, not just itwas business, it was business
for X, y and Z, because I haveto prove that to the IRS too.
(13:25):
I've got to get you into a spotwhere, if I'm saying it's a
deduction, I got to prove to theIRS that it's a deduction for
you too.
It's not just about bookkeeping.
So getting it all in the samespot's the right way to do it.
And then, eventually, when youget to that spot and, by the way
, 1231 of every year is thatspot for everybody, and so
you've got to get your bookscleaned up as of 1231, no matter
(13:47):
what, you got to be able tohave some sort of financial
statement.
So if you're just starting thebusiness today, you have all
year to kind of get yourbookkeeping squared away.
I wouldn't do it, that's not,that's not what I suggest, but
you do have that.
Yeah, if you started last year,you need to make sure your
books are up to date as of 1231.
(14:08):
So you need your tax returns,yeah.
Speaker 1 (14:09):
That's so good.
I love that idea, cause when I,when we started Marcus, we
didn't know a lot of this stuff.
You know, we had gotten abookkeeping company but we
didn't really like keep up withit.
And then they would.
They would hit us up like everyquarter, every six months, and
be like, hey, can you go backand tell us what all this stuff
was.
And I would get so frustratedbecause I'm like I can't
remember what I did yesterday.
How am I supposed to rememberall this stuff?
(14:30):
So, like, just keeping up withit, it's.
It's now that we, you know, wework with you guys.
You guys have a cool littlesystem that, like, you'll send
us a little ping, you know, acouple of times a month.
That's like, hey, we don't knowwhat these charges are.
Go and put some detail in andthen it categorizes them.
And it was like, oh my gosh,it's a laundry list of like a
(14:53):
hundred things and I'm like dangit, like this is the last thing
I want to do.
I want to go do deals, I don'twant to be out categorizing
expenses.
You know, I love that idea.
So, getting back into into someof the other things that you
work with a lot of you know some, some of the bigger boys in our
industry, right, what are youseeing trends-wise those guys
are doing?
(15:13):
Are they stashing more cashnowadays?
Are they investing in a lot ofdeals?
What are you seeing for trendsoverall as far as what some of
the guys are doing?
That are some of the big boysthat you work with out there
across the United States?
Speaker 2 (15:27):
Yeah.
So if I would say the onesimilarity across all of them
would be, I would.
I would sum it up in one wordand shift Okay, right.
So I think I don't thinkthere's anybody today operating
the way they operated 24 monthsago and I would say, depending
(15:48):
on that operator, they are atthe end of the shift, in the
middle of their shift, orthey're just now realizing they
need to shift Right.
And so that's kind of wherewe're at as far as my opinion,
from the inside, looking at it,there's a lot of businesses
shifting, and not necessarilyfor a bad thing, meaning that's
(16:10):
a negative thing.
But I think what we're seeing iswhat we, what we're getting
more comfortable in, is whattoday's market is, and we're not
preparing for any.
You know, big expectationchanges in the market.
We're just going to kind of.
You know it feels like myclients for the most part are
hey, yeah, there's black swanevents, there's things that can
(16:32):
pop up, but we feel like we canpredict the pricing of the
market, which is all real estateinvestors ever care about.
Right, can we predict thepricing of the market?
Because if we can predict thepricing, we're good.
It doesn't matter if themarket's up or down, we just
need to be able to predict it.
And so my clients feel likethey're confident in getting
their ARVs right, which is newand at one point in time their
(16:55):
ARVs were way too low becausethe market was going up.
And then they shifted and theirARVs were way too high and they
were overpaying for properties.
And now we feel like, okay, Ithink I know what the ARV is.
I've got to change some thingsin my business to make this work
, but I can make it work.
Speaker 1 (17:13):
Yeah, no, that's so.
True man.
We saw that too in our business.
When interest rates skyrocketed, everybody pulled back.
Dude, we ended up flipping aton of properties which we don't
flip hardly anything in ourbusiness but everything pretty
much for us is wholesale or ifit's a bigger deal we're going
to look at, maybe buying andholding it.
But we saw that we had to startflipping a bunch of stuff
because none of our investorbuyers were confident in what
(17:35):
they could buy that thing forand then resell it for four or
six months down the road.
And now we've seen probably wesaw it a little bit earlier, I
would say within the last 12months here in Wisconsin we've
seen a lot of investors kind ofcome back to the table and now
they're pretty comfortable,they're buying deals on a
regular basis.
The same guys are showing up atall the every week.
They're showing up looking atdeals and they're staying pretty
(17:56):
consistent.
So I think we've seen that nowLike it's nice to just have.
Like you said, I don't carewhere interest rates are at, as
long as I know what the market'sgoing to roughly be.
I can now I can make my buysright.
I can now I can make my buysright, because we make our money
when we buy right.
Speaker 2 (18:10):
So yeah, absolutely, and I think that's a really good
point that you made there.
As far as the fix and flipperscoming back into the market, I
you know, again, no market cansustain not having activity in
it, right?
So the activity has got to comeback.
Obviously, individual companies, they can't stop flipping and
(18:32):
keep the business open, sothat's got to come back.
But I think the other thingthat has helped with, you know,
all of the kind of the flippingcoming back, is we need it,
right.
This is such a necessity in our.
If you look at all of the MSAs,the only housing that's getting
(18:55):
built is so far outside of thatMSA that flippers are the only
option to get good housinginside of a city, and so there's
a need for it.
There will always be a need forit.
Somebody asked me one time.
They said, hey, if I wanted tonever have to worry about the
ups and downs of real estate,what should I know?
(19:17):
And I said, well, obviouslythat's not ever going to be the
case, but you should't have tobuy it at a discount.
You can allow your constructioncompany to create the value in
it.
And so you know, a lot of timeswe talk about this with people
(19:37):
that wholesale and flip, where,okay, I buy direct from the
seller and then I flip it.
Well, if you buy direct fromthe seller at a retail price
what I'll say retail for aflipper you didn't really buy it
at a discount, right, right,you didn't.
So we talk with our people thatdo wholesale and flip.
They should buy it at awholesale fee, they should get a
(19:59):
wholesale fee for it, and then,if they add extra value to it,
then they should get a profitfrom the flip too.
So there's two profit bucketsin that transaction.
Profit buckets in thattransaction, and I think what a
lot of people have realized inflipping is that we've got to at
least be in one of thosebuckets.
We have to, Otherwise we'regoing to be in trouble, if not
(20:21):
both of them.
Speaker 1 (20:21):
Yeah for sure.
I think you brought up a reallygood point.
I've been preaching this to alot of people that I talk to on
the investment side who areworried about a market crash.
That's everybody's concern, andI've been here.
I've been in real estate since2016.
Every single year I've had thenaysayers that are like, well,
the market's going to crash, themarket's going to crash.
And here we are, nine yearslater, and they're all kicking
themselves.
They weren't buying deals backin 2016.
(20:42):
Same is going to be true today.
The inventory is so low acrossthe country, especially for
affordable housing.
Right, and what you're talkingabout here, marcus, is they
can't build an affordable houseanymore for what a flipper can
buy it for and fix it up andthen resell it for it.
So the competition, yourcompetition, is not new
construction.
Not only that, your competition.
New construction, like you said, is outside of the MSAs.
(21:04):
They can't, they're notbuilding brand, unless it's some
kind of government subsidizedprogram or something like that.
But there's no developer that'sgoing in and buying infill lots
in the city and developing itfor what somebody could buy an
existing property for and fix itup and sell it for.
Speaker 2 (21:20):
Not competitively priced right.
I mean because you have to goin, you have to destroy
something that's alreadyexisting right.
These MSAs are already full.
So you've got to wipe out abuilding, you've got to wipe out
a block, and then your cost perlot is so high to do that.
That it just doesn't make sense.
So you're right, you have tohave subsidized housing and a
lot of times they're not doingthat.
They're not doing single familyhomes, they're going to do a
(21:42):
multi right, because they canbuild up.
They can put 150 units on thatsize of a lot instead of 10.
On that size of a lot insteadof 10.
Speaker 1 (21:49):
Correct.
Yep, they're going to get somedensity going in there because
there's a shortage, exactlyRight.
And they want that tax base uptoo right.
Speaker 2 (21:58):
A hundred percent.
That's the other thing.
Speaker 1 (22:00):
Yep, that's another piece.
What about?
Like some of the newconstruction guys, you work with
new construction guys at all.
Marcus, yeah, you dono-transcript.
Speaker 2 (22:38):
And so part of that is you're building infill lots.
There's infill lots atdiscounts of developers that
didn't do well or maybe theyneed to get out from underneath
them, or they didn't plan on theinterest rate heights or
whatever.
So buying a discounted lot isno different than buying a
discounted house, and so in thatrealm there's people that are
(23:00):
going out finding thosediscounted lots that make sense
to put some sort of unit on, andthen it just depends on what
that investor's doing.
I've been a big proponent ifyou are an investor that's
looking to buy and hold and Ilook at buying and holding as a
20-year play, not a five-yearplay.
So I look at buying if you'rebuying and holding.
(23:21):
Otherwise it's just a long-termflip.
Speaker 1 (23:23):
Right, oh, that's a good point.
I've never thought of that.
Speaker 2 (23:25):
And so if you're buying and holding to your point
, you can't really lose money.
Right, you can buy today,prices are high, everything's
high, but it's going to behigher in 20 years.
Speaker 1 (23:35):
We know that.
Speaker 2 (23:36):
Yeah, or we all were fooled.
One of the two, yeah, yeah, butI think the.
I think that I missed mine.
I'm losing new construction.
Speaker 1 (23:48):
Yes, so the new construction.
Speaker 2 (23:51):
So the other reason so what I'm really a big
proponent of is for newconstruction is to build a rent
right.
Build a rent your own assets.
Because here's what I tellpeople If you're going to own
that for 20 years and you buy a30 year old property, it's 50
years old in 20 years, Right,Right.
But if you buy a new one,you've got all the deferred
maintenance is off the table.
(24:12):
You've got the most efficienthouse possible in the market.
You've got everything that youwant, Plus, you've got the best
product.
Now here's where your issue isis that you're competing against
the inner city rentals.
That's sometimes a problem, butthere's still areas that make
it work.
Or you can come in and build anew house on a torn down lot or
a fire lot or something likethat that we see.
(24:33):
But I think the new builds Ireally like the new builds If
you want to keep it for the next20 years that's a great asset
to have in your portfoliobecause it's new, it's fresh,
it's a good asset.
Because it's new, it's fresh,it's a good asset and a lot of
times you're going to get betterrenters and you're going to get
better interest on those newinterest rates, better financing
(24:54):
on those new properties.
Speaker 1 (24:55):
Yeah, that's a great point.
You know one of the Like that.
Speaker 2 (24:58):
Go ahead.
Speaker 1 (24:58):
Oh, as I say, one of the things I always hear too, or
I let people know too, is likethey're looking at maybe a big
rehab, right, like they'relooking at maybe a big, a big
rehab, right, and it's going toneed a new furnace and an AC and
windows and a roof and sidingand all this stuff.
And I'm like I love those Ifyou can get a discount, like if
you can buy it at the rightprice, because if I'm going to
hold that, that asset, just likeyou said, now my foundation is
still 50, 60 years old orwhatever the case is, but if
(25:20):
everything else in there I'mbasically replacing and I'm
starting fresh, I can't rebuilda brand new house for when I can
remodel the entire thing andtake all that CapEx and just do
it all in one fall swoop.
And now, like you said,similarly, I don't have to
budget as much for CapEx in thefuture.
I've got a lot of that stuffcovered and now I've only got a
handful of things that couldpossibly go wrong in that short
(25:43):
period of time.
And so, even if I'm not cashflowing quote, unquote much my
tenants are paying down my debt,my property is going to
appreciate like crazy and I'mcreating that big spread in
between what the property isworth and what is owed the
longer that it goes on, Like yousaid, in 20 years.
I always tell people and peopleI listen to this podcast
regularly like you could buytoday and look like an idiot on
(26:04):
what price you paid for it, andin 20 years you're going to look
like a genius and you are.
You are so smart to buy thatproperty.
They'll forget.
20 years ago they called you anidiot for what you paid for it
today, Right?
Speaker 2 (26:15):
Sure, and we see that now.
Right, like, I mean, how manypeople have you talked to?
And they're like, yeah, Ibought, like all these houses at
$30,000 when nobody was buying,you know, in 2008 and 2009,.
It's like people were lookingat me like I was an idiot buying
these houses and I'm like, well, no, you were brilliant and, by
the way, this is the one of thethings that I always talk about
(26:37):
and maybe we'll pivot to thisbut, right, cash, and so they,
they had opportunity to buythese houses, and I think that's
where you know, so many peopleare at today is that we had
these big, this big swing, andfor a lot of us, we were able to
to do really well in that inthe housing market over the last
(26:57):
, you know, especially thosecouple of years after COVID.
But now you know it's comingback to normal and we need cash
right.
And so what the smart, what thesmart investors doing is they
put that cash on the sidelineand they're waiting to pounce.
Right, some of them arepouncing a little bit.
Now I'm starting to see somemoney come off the sideline a
little bit, but I still thinkthere's a lot of money sitting
(27:20):
out there waiting for discounts.
Speaker 1 (27:21):
Yeah, and is that what they're doing with the cash
?
They're just going in?
Speaker 2 (27:29):
and making cash offers on these houses that
normally they were gettingfinancing for, or what are you
seeing the best use for theircash right now?
Yeah, two different spots thatI'm seeing at places where
people are storing cash.
The number one spot is just inmoney market or treasuries right
, you're getting four to fiveand a half percent in that and
it's hard to argue against thatbecause it's so safe.
But then, well, I should saythree different places.
Then they're becoming their ownhard money lender, right, so
(27:50):
they're lending on their ownproperties that maybe in the
past they would have gotten andgot third party financing or
whatever.
And then I'm seeing a lot ofpeople getting into the hard
money lending business.
Maybe, not in the tune of, hey,lending $20 million a month or
something like that, but havinga million dollars sitting on the
sideline and deploying it intotheir market and you know, and
(28:14):
helping maybe flippers or youknow some of the other people
that I always tell people.
If you want to get into hardmoney, lending as a real estate
investor, super easy only lendon a property that you would
have bought for the, for the,for the purchase price you would
have bought of that, and inworst case scenario, you end up
with a property anyway.
Yeah, exactly, so yeah a lot ofpeople are doing that.
Speaker 1 (28:34):
Yeah, we've actually started to do a little bit of
that too, like we're not tryingto go out and start a fund or
anything like that right now,but for people that we have
relationships with and that weknow, especially our employees,
a lot of, we lend a lot of ouremployees, but we're starting to
do a little bit of friends andfamily hard money lending and
we'll see where that goes andwe'll see if it continues to
grow and all that sort of stuff.
But I enjoy it.
Like you said, it's, it's funto get involved with some deals
(28:55):
and partner with some otherinvestors and be a part of that
whole process, more than justgiving them the deal, you know,
and supplying the deal.
Now we can also supply themcash, potentially for their
deals as well.
So that's been kind of fun,that's been kind of exciting.
Speaker 2 (29:07):
Yeah, makes it even a more of a one-stop shop, right?
If you can, if you're like, hey, here's the deal.
Oh, and, by the way, I can helpyou out with the financing on
it.
That's that.
That helps them out a lot too,so I would encourage you to keep
, you know, going deeper intothat as you, as you see fit.
Speaker 1 (29:24):
Yeah, for sure, For sure, Marcus.
What are some other things outthere that you see just going
back to?
I want to go back to kind ofthe newer investor.
Let's say they're out there andthey're like man, I don't have
cash, right, what are they doing?
Or how are you seeing, like,what would your advice be to
somebody to try to get theirstart?
Like, what are they doing asfar as from a cash management
position or from a planningposition or something like that?
Speaker 2 (29:47):
Totally, totally so.
The first thing I will tell youis recognition where you're at
in business, and so there's fourphases of business.
Every business, everyentrepreneur, goes through it.
You hustle, you got to secure,you got to expand, and then
ultimately you exit.
And no matter what you do,you're going to kind of be in
(30:08):
that realm, right, and so mostof your newbies are in that kind
of that hustle stage, for sure.
And what happens in the hustlestage you're going to remember.
So you're going to hustle,secure, expand, exit.
What happens in the hustle stageis we don't go through this
period of security, right, andso in hustle, you should be
(30:29):
thinking about how do I securemy business the best possible
before I expand?
What does that mean, okay?
Well, that means a lot ofdifferent things are going to
happen, right?
Number one we're going to havea cash position that is
supporting our monthly expensesOkay, that includes your
(30:50):
personal expenses, okay.
And so, as an entrepreneur, youdon't have the ability to
expand unless your business ispaying your salary, right, and
so that's a big belief that Ihave is you're not a business
owner until you're getting asalary out of your business and
it's the same salary everysingle month, no matter what the
(31:13):
month is, no matter if it's agood month, a bad month.
You get the same money everysingle month.
That's number one.
Got to have that.
Some people call that profitfirst.
I don't.
I don't call that profit first.
I call that paid to work Likeyou were you're working in your
job.
Speaker 1 (31:29):
You're getting paid to work.
Yeah, pretty basic yeah.
Speaker 2 (31:33):
And then so that's, that's the number one thing.
The number two thing is havinga cash position to where it's
it's in accordance with yourfixed expenses.
So if you're sending out, let'ssay, $5,000 a month in
marketing and you know you got a$2,000 a month VA and you might
have maybe $1,000 a month inother software costs, so maybe
(31:54):
it's like $8,000 a month infixed costs.
That's probably kind of anewbie fixed cost ratio.
Well, you need to have at leastthree times that in the bank.
That means $24000 bucks so and,by the way, if you want to
increase, this is the hack I'mtelling you.
If nobody listens to anythingfrom here.
(32:24):
listen to this, If you want toyour expense growth based on
your or your, your cash growthbased on your expenses.
So if you want to extend yourexpenses, you got to compile
cash first.
Why do I say that?
The reason why I say that isbecause an expense is not an
expense, that is for anindividual.
(32:46):
As a business entrepreneur, youhave to change your mindset.
Expense is an ROI.
It is expected to give you areturn, and so if, at $8,000 a
month, you can't get to $24,000,$25,000, $26,000, $30,000, you
don't have the right expenses,yet they're not giving you a
(33:06):
return.
So good.
So what happens is that you gotoo fast.
So you're like, oh well, Ican't get to $24,000 in cash, so
I'll just go to $16,000 inexpenses and then I'll be able
to get to $24,000 in cashbecause I'll get the returns off
of that.
It's not how it works, right,and so if you want to go slow,
(33:27):
you'll go fast, that's so good,low is smooth, smooth is fast.
Speaker 1 (33:32):
That's so good.
I just want to repeat that Anexpense is not an expense, it's
an ROI.
I think that's what you said.
Speaker 2 (33:38):
That's right and, by the way, it's different.
That's why we're weird ashumans, because when we go as an
individual if I go to the bartonight, right, that's an
expense, right, there's noreturn on that Matter of fact.
It's probably giving me anegative return.
Speaker 1 (33:53):
Yeah, you're going negative there.
Yeah, right.
Speaker 2 (33:55):
Yeah, but that's personal.
I'm not using my businesscredit card to spend that.
I'm not doing that right.
I might if I'm meeting withCorey right.
Speaker 1 (34:05):
If I'm getting Corey drunk, to charge him more.
Speaker 2 (34:07):
I might do that, but I'm not going to do that.
That's an expense of mypersonal life, but it becomes an
ROI.
I need to make sure it has anROI in my business for any of
those things.
Speaker 1 (34:17):
That is so good.
That's the nugget right there,marcus, I think that was the one
for me.
I just heard that and I'm like,dude, that is so good.
Everything in my business doesas you said.
Then I'm like, well, marketing,duh, right, what's my rate
return on ad spend?
That's an easy one.
But then I'm like thinkingabout our staff and all software
, like anything that we spendmoney on.
What's our ROI on that?
And we can, if you filter itthrough that lens, it makes it
(34:37):
really easy to determine do Ikeep this expense or do I cut
this expense or do I expand thisexpense?
Right, that's right.
Wow, that's so good, dude, Ilove that.
Marcus, uh, we're going to getto the uh, the the question here
.
I know you got a busy day,brother, and I appreciate you
getting in here, man, andhelping out this team and, uh,
people that are listening tothis.
Uh, before we let you go,though, usually we ask what's
(35:00):
your favorite Wisconsintradition or place to visit.
Since you're not from Wisconsin, maybe do you have a favorite
tradition you want to experienceor a favorite place you'd love
to visit.
Speaker 2 (35:10):
Oh, I gotta be Lambeau field.
Yeah, buddy, gotta be Lambeau.
I mean, you know it's not goingto be Aaron Rogers throwing the
rock around, but it'll be allright, maybe, you know, maybe
it'll be all right, jason.
Jordan love will be be a goodquarterback for you guys.
I feel very confident in that.
But, man, I got to think thatthere's that might be one of,
like, the top places.
(35:30):
Like, if I want to go to afootball game, I'm a big Kansas
City Chiefs fan, so don't holdit against me, Sorry, guys, hey
you're an AFC guy.
Speaker 1 (35:39):
We don't hold feelings too hard about AFC
people.
Speaker 2 (35:42):
I know, I know, but everybody hates on.
You know the chiefs.
I was a chiefs fan when we lostevery game.
So you know, I'm, I, I'm there.
So, but other than a chiefsgame, I think Lambeau field
would be the place that I wouldwant to go see a game that is.
There's so much tradition andand it's such a cool place to to
see all the all the justtradition.
(36:03):
That's there for sure.
Speaker 1 (36:10):
Well, dude, maybe just tradition, that's there for
sure.
Well, dude, maybe we'll have todo a reciprocal trade.
I'll get you up here for apacker game, you get me to a
chief's game, because I wouldlove to go to chief's game I
love.
That's one thing I think werespect.
We respect certain teams likethe chiefs fandom.
You know, in in arrowhead, likethe, you know we love that
buffalo.
We're kind of like all right,other than the table thing.
I think it's kind of dumb.
But other than that I I havesomething though.
Speaker 2 (36:23):
Yeah, yeah, I mean.
Speaker 1 (36:25):
I respect it.
I respect their dedication tothe team.
Yeah, that's right.
That's kind of how we are herein Green Bay.
So well, man, I appreciate youbeing on, guys, everybody out
there.
If you got some value out ofthis, please share the episode.
It's not so that we can growand create this huge audience,
but as we talk about on prettymuch every episode now you know
there's a ripple effect out.
There could be.
This episode could be the oneconversation somebody needed to
(36:45):
hear to absolutely change theirlife and get started in real
estate investing and you, by yousharing this episode, that
could be the catalyst for them.
So please share it If you'reout there and you're like hey,
corey, you know, earlier I heardto talk about getting on the
buyers list that Wisconsindiscount properties, but I'm not
ready to do that yet.
I'm just kind of just getting myfeelers out there.
Right, just go to our website,fail to contact us for them and
that'll go to myself or Reese orConnor on our team and one of
(37:06):
us will give you a call andwe'll just have a conversation
with where you're at, what kindof help you need, and we'll try
to point you in the rightdirection and get you connected
to some folks, to get you onyour way to getting involved in
this fun, crazy life we callreal estate investing.
So with that, marcus, any finalthoughts for the audience, or,
if somebody wants to get incontact with you and Beck,
what's the best way to get aholdof you guys and and uh, inquire
(37:26):
about what you guys could dofor them and their, their and
their business?
Speaker 2 (37:31):
Yeah, totally.
So, first off, I want to second, uh, second, corey, share this
episode, make sure and like,subscribe all that stuff.
That that makes the thesepodcasts work.
Here's a here's a little secretfor you If you share this stuff
, what you're going to find isthat people on your contact list
don't know what you do, and ifnothing, else, if you're like,
hey.
I don't care about helping themgrow their podcast whatsoever.
(37:54):
If nothing else, this is goingto help you share what you're
doing and what you're interestedin and maybe that becomes a
partnership.
It may become a deal, maybecome a JV, who knows?
But I know about the communityof real estate and it is a
community and the more you tapinto that community, the more
that you give in that community,the more you receive.
So I highly, highly highlyrecommend that.
(38:16):
Yes.
Speaker 1 (38:17):
That is so good.
Speaker 2 (38:18):
Lastly, if you want to get ahold of us again, we
work with people all across thecountry.
We'd even work with you inWisconsin as long as Corey
allowed it.
We'd even work with you inWisconsin.
As long as Corey allowed it,we'd even work with you in
Wisconsin.
So reach out to us atBeckCFOcom.
You can check us out.
We've got a whole bunch ofdifferent ways to work with us.
We even have a little educationcourse that, if you're like hey
(38:39):
, I don't want to changeaccountants, but I'd love to
learn more about how to becomebetter in my finance you can
learn about that at beccfocom aswell.
Speaker 1 (38:46):
And Beck is B-E-C-C-F-Ocom.
Speaker 2 (38:49):
B-E-C-C-F-O.
That's right.
Speaker 1 (38:51):
Yeah, don't be throwing a K in there in a Beck
no.
Speaker 2 (38:54):
Ks.
Speaker 1 (38:54):
You're going to get some weird websites if you go to
Beck with a K CFO.
That's right, you don't want togo there.
Awesome, marcus.
Thanks for being on, brother.
Thank you guys all forlistening.
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