The Double Comma Club

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Biden Harris Proposed Tax Laws Effect on Consumers from Tracey Wilson

Biden Harris Proposed Tax Laws Effect on Consumers

The table below is taken from Tracey Wilson's presentation at the Agent Ignite session. These are derived from his research. If you have questions, please visit his website. This is the BIG RED button he talks about in this presentation.

Here is the PowerPoint from this presentation.

Here are a few points covered:

1)American Rescue Plan: $1.9 trillion for COVID Stimulus Package

  • Passed even though $800 billion of the previously passed $2.2 trillion CARES Act (passed 3/20/20) had not been spent yet

2)American Jobs Plan: $2.3 trillion for infrastructure

  • Raise the corporate tax rate to 28%
  • Increase the global minimum tax paid to 15%
  • Impose a corporate minimum tax on book income
  • Eliminate tax benefits for the oil and gas fossil fuels sector
  • Increase corporate tax enforcement

3)American Family Plan: $1.8 trillion for universal pre-K, free community college, SLD $50K forgiveness, paid family leave

  • Raise individual income taxes
  • Raise cap gains tax rate
  • Increase estate tax
  • Limit step-up in basis

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Creating Cash Flow in Rental Properties

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Real estate investments are my favorite topic to talk about, but also my favorite type of loan to help a client with why because in an area where loan officer gets to be creative, often purchasing investment isn't cut and dry. It requires strategy and planning. If you've ever joined me from my building investment empire class in the second Thursday of each month. 

And you know, I advocate purchasing a home as a primary, living in it for a year and then doing it all over again. Why? Because when you purchase a home as a primary, you can put as little as 3 to 5% down and that frees up cash when you compare it to purchasing it as investment property, which requires 15 to 25% down. 

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Saving for Buying Real Estate in Your 20s.

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How do you start in your 20's investing in real estate? You start with the first one. It's the toughest. Let's think of money in terms of buckets.
Your checking account feeds

  • short term expenses
  • Long term savings
  • outside investments
  • retirement

Consider setting up automatic transfers.

1 month of expenses, then the remainder rainy day fund, build this account up first.
50% monthly needs housing food - your short-term expenses for living and entertainment.
30% rainy day
20% retirement investment bucket.

To invest in real estate, consider saving $125/month. By the time you graduate college, you can afford to buy a home.
People who invest in real estate are 48x's wealthier than those who rent.

How to Get Started in Real Estate Investing Part 1

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This episode lumps together 4 episodes from the Real Estate Investing playlist on our YouTube channel. Catch these first four short episodes to get started, first with the logic and then to show how even with a modest income you can still build your retirement through real estate.

This 17-minute episode includes:

  • Good Buy, or Goodbye?
  • Creative Investing
  • Long Term Investments - Fact vs. Fiction
  • Turning Rental Income into Retirement Income.

Be sure to catch part two publishing next week.

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Ivy Zelman’s Insights at the Fairway Economic and Housing Summit

Fairway Economic and Housing Summit - Ivy Zelman

This is only one session from the outstanding series of presentations during the Fairway Economic and Housing Summit on December 17. The full event featured presentations by the following. You can watch the replays on YouTube here:

Barry & Dan Habib
Dave Stevens 
Ivy Zelman
Chris Whalen
Rob Chrisman
Mike Fratantoni

Moderated by Nicole Rueth, Sarah Middleton, and Peter Beanland.

Follow along with this presentation from Ivy Zelman. (PDF)

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Start your children small so they can have passive income to support themselves by 55.

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4 Creative Ways To Help Your Kids Buy A Home

Statistics show that 17% of parents plan on helping their kids purchase their first home in the next 5 years. That’s up from 13% just a few years ago! We want to set up our kids for success, but also protect our own retirements and financial success. Here are four creative ways you can help your child and yourself!

This podcast is sponsored by and produced by The Rueth Team

Your home purchase has a long term impact on your ability to build financial wealth. We at the Rueth Team will continue to be alongside you well beyond the closing table. Whether helping to refinance a loan,  transitioning to your next home, or building multigenerational wealth through investments, we are committed to finding YOU solutions other lenders can’t… or simply won’t. 

We look forward to helping you build wealth through real estate by generating passive income for a more financially secure future. Get started by visiting theRuethTeam.com

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