In this PPhREI Network roundup, we learn about the difference between net worth and wealth, the bonus depreciation phase out, and how to create a real estate investing team.
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Carpe Diem MD
In this post, Ian Cook, MD reminds us that bonus depreciation drops from 100% to 80% this year (2023). Next year, it drops another 20%, and so on until it phases out. As I recently told a friend, this shouldn’t push you to make a bad investment, but it does mean that you can get some extra tax mojo if you close on a good deal in 2023.
Read the post on the Carpe Diem MD blog: 2023 Short-Term Rental Bonus Depreciation Update and more…
If you want to take advantage of bonus depreciation, you’ll need a cost segregation, so make sure to hit up my girl Kim Lochridge at Engineered Tax Services!
The Darwinian Doctor
In this post, I outlined the process I use to create a real estate investing team from scratch. I reviewed the six people you need to invest in rental real estate and my best tips that will help you put your best foot forward.
Read the original post on the Darwinian Doctor blog: How to Create the Ultimate Real Estate Investing Team
The Prudent Plastic Surgeon
In this personal finance post, Jordan Frey, MD defines the difference between net worth and wealth. I like how he gives scenarios to explain why some people with a high net worth still don’t feel wealthy. Hint: it has to do with cash flow or access to cash. This one is worth a read!
Read the post on the Prudent Plastic Surgeon blog: Net Worth and Wealth Are Different: Does It Matter? (Yes!)
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