424: Make More Money, Build Your Portfolio, and Get Greater Tax Deductions in 2021 with J Scott, Amanda Han, & Matt MacFarland

Episode • Dec 10, 2020 • 1h 41m

We have a real estate and investing mastermind session in this episode of the BiggerPockets Real Estate podcast! J Scott, Amanda Han, & Matt MacFarland join David and Brandon to discuss what investors should do to maximize their wealth (and opportunities) in 2021.

Co-host David Greene goes over his new book SOLD: Every Real Estate Agent’s Guide to Building a Profitable Business, talking through who should (and shouldn’t) be an agent, what makes a great agent, how agents can maximize their income, and more!

J Scott talks heavily about how the election, stimulus packages, and new (proposed) tax codes could hurt (or help) real estate agents, and what you can do to ward off higher tax plans, loss of rent, or even inflation.

Amanda and Matt are our tax professionals on the show! They dive into which upcoming 2021 tax codes could affect you, whether you’re an agent, a real estate investor, or just a W2 worker!

This is a fantastic episode for any listener who wants to know more about how 2021 may shape our economic future. Thankfully, we have some of the best guests in the world to tell you about it!

In This Episode We Cover:

Who should and shouldn’t become a real estate agent
How to offset earned income tax with real estate investments
Why you should buy David’s new book SOLD: Every Real Estate Agent’s Guide to Building a Profitable Business
The new opportunity of buying businesses in 2021
How to hire your best workers (and why you may need to let some go)
How 2020 taught us to keep our businesses lean
What to do if 1031 exchanges go away
How inflation may affect your wealth over the next 1-5 years
Why debt is a great inflation hedge
And SO much more!

Links from the Show

Check the full show notes here: http://biggerpockets.com/show424

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