Justin Colby

And you borrow that money tax-free to pay your tax bill and you pay it back over time. There's no other assets, right? So this is why I lean into everyone needs to be in real estate. Even if they're not a full-time real estate investor, even though they're not acquiring a rental a month and all these who gives a shit statistics of how successful you are, they have to be in real estate.

And you borrow that money tax-free to pay your tax bill and you pay it back over time. There's no other assets, right? So this is why I lean into everyone needs to be in real estate. Even if they're not a full-time real estate investor, even though they're not acquiring a rental a month and all these who gives a shit statistics of how successful you are, they have to be in real estate.

And if you're going to be in real estate, then you're going to want to read the book. You're going to want to treat it like a business, even if you're doing it part-time. Let's lean in a little bit more to the book. Beyond just the bank accounts in and of themselves, what are some other golden nuggets that you can leave here with this audience about the book?

And if you're going to be in real estate, then you're going to want to read the book. You're going to want to treat it like a business, even if you're doing it part-time. Let's lean in a little bit more to the book. Beyond just the bank accounts in and of themselves, what are some other golden nuggets that you can leave here with this audience about the book?

I just had this happen to me, by the way. Oh, that sucks. Incorrect bookkeeping. I've had my bookkeeper for years. Yep. And he got me, right? My account was like, wait, what just happened? Like, did he... And they've worked together for years. So even when you have someone good, there's still mistakes that happen in that reality. And I forget what it was.

I just had this happen to me, by the way. Oh, that sucks. Incorrect bookkeeping. I've had my bookkeeper for years. Yep. And he got me, right? My account was like, wait, what just happened? Like, did he... And they've worked together for years. So even when you have someone good, there's still mistakes that happen in that reality. And I forget what it was.

Right.

Right.

the the thing that i would tell everyone is first of all go follow david even the simplicity of just following him all over his social medias um simple cfos company profit first for real estate investors but don't be someone who's listening to this or watching this and doesn't do anything you can be that person but then be aware that like you're having you're gonna have no results

the the thing that i would tell everyone is first of all go follow david even the simplicity of just following him all over his social medias um simple cfos company profit first for real estate investors but don't be someone who's listening to this or watching this and doesn't do anything you can be that person but then be aware that like you're having you're gonna have no results

If you're even just getting started in real estate investing, this is likely one of the first books I would tell you to buy. Not because it's going to teach you how to get the deal. It's going to teach you how to set it up as a business from the beginning, even if it's a part-time business, right?

If you're even just getting started in real estate investing, this is likely one of the first books I would tell you to buy. Not because it's going to teach you how to get the deal. It's going to teach you how to set it up as a business from the beginning, even if it's a part-time business, right?

And that way, the financial mistakes that I definitely made in my first probably five years of business and basically just running all money in, all money out, I don't care, like do more deals, you're going to avoid that trap.

And that way, the financial mistakes that I definitely made in my first probably five years of business and basically just running all money in, all money out, I don't care, like do more deals, you're going to avoid that trap.

Even the highlight I tried to point out about the taxes personally, you're not aware unless someone like myself or Davis mentions to you like, hey, the money, gross money that's coming into your LLC trickles down to you at some point.

Even the highlight I tried to point out about the taxes personally, you're not aware unless someone like myself or Davis mentions to you like, hey, the money, gross money that's coming into your LLC trickles down to you at some point.

And if you aren't set up the right way and you're not pulling out owner's taxes on every deal, on every dollar, even if you're pulling out 20%, which you're going to be taxed more than that, but even if you pull out 20% of those dollars, you're going to have a good head start to make sure that the tax man is actually going to get paid, right?

And if you aren't set up the right way and you're not pulling out owner's taxes on every deal, on every dollar, even if you're pulling out 20%, which you're going to be taxed more than that, but even if you pull out 20% of those dollars, you're going to have a good head start to make sure that the tax man is actually going to get paid, right?

And again, David, you've worked with thousands of investors. You've seen it all the time. They're built on sand.

And again, David, you've worked with thousands of investors. You've seen it all the time. They're built on sand.