Garrett Sutton: The Truth Behind Real Estate Tax Benefits and Millions of New Renters
Do you know what a “sharer” is? If you born in the 1980s, which makes you between 26 to 35 years old, then you are part of a hidden group of people that real estate investors should be turning their focus on. For real estate investors, this demographic of 44 million strong, has the potential to bring in a lot of money. More often than not, these people are underrepresented in the housing market because they are moving back home or have never left.
In episode 717 of the Creating Wealth Podcast, Jason Hartman explains what it means to be a ‘sharer’. People in this group share so much with others—they share their likes and location. They share rides through services like Lyft and Uber. They share vacation accommodations through AirBnB. Heck, you can even see what someone had for dessert via Instagram. This age group wants to be noticed, they want to share their lives with others, and social media allows them to do exactly that.
Not only are folks in this age group more likely to share their lives with others, but they are also more cynical too. They don’t feel like their college education is paying off, thanks to a bad economy. The recession made them more practical and thrifty, even though it has made them less likely to commit when it comes to buying a home.
With all of that said, as an investor, within the next ten years, you are going to be meeting and dealing with these sharer’s en masse. It is so important that you know how to appeal to them and understand what it is that they are looking for—and prepare for a possibility of a real estate bubble, as Harry Dent predicts, especially in Los Angeles, Miami, Boston, New York and other places.
Also in the podcast, we talk about the political system. While it’s true that this is a real estate investment podcast, what happens in our government does effect the real estate market; and sadly our government has heavy dealings with corporations who easily sway candidates and even officials who are in office.
The real draw about the podcast episode is when we play a snippet of Garrett Sutton’s audiobook, Loopholes of Real Estate. In that particular chapter, you can learn the answers to common questions that we receive over and over from interested real estate investors and agents. Some of these questions include:
- Why income property and real estate is the most tax-favored asset class in the US
- Why you may be susceptible to tax hits if you are part of the AirBnB crowd
- What is a passive loss and the rule associated with it
- Whether you need a real estate license to be a successful business in real estate
With all the fantastic information Garrett Sutton mentioned in that single chapter of his audiobook, we want to pay special attention to the Property Tracker software as well as the Property Fixer app. These tools are incredibly useful for anyone who does business in real estate. You might find that it’ll make your life a lot easier.