What you'll learn about in this episode:

In this episode of The Mentor Podcast, host Ron LeGrand is joined by Dedric and Krystal Polite, entrepreneurs recognized from their popular TV show on Hulu and A&E, "50/50 Flip." Discover the unique strategies they employ in real estate to foster financial stability and generational wealth, all while managing a family and contributing positively to their community. The couple share their journey from corporate America to becoming influential real estate investors and television personalities.

Key Topics Covered:

• Transition from Corporate to Real Estate: Dedric and Krystal detail their shift from traditional 9-5 jobs to full-time real estate investing, highlighting the initial challenges and learning curves they faced.
• Reality TV Insights: Insights into the behind-the-scenes realities of filming a real estate-focused reality TV show, emphasizing the authenticity and daily business operations featured.
• Community Impact and Affordable Housing: The Polites discuss their commitment to providing affordable housing and their contributions to the community, reflecting their upbringing in similar environments.
• Diverse Investment Strategies: Exploration of various real estate strategies including wholesaling, buy-and-hold, flips, and creative financing, underscoring the importance of having multiple exit strategies in the business.
• Mentorship and Education: The significant role of mentorship and proper education in real estate success, as well as the couple's experiences with early mistakes and how they shaped their approach.
• Creative Financing and Seller Financing: They share insights on creative financing and seller financing, which have been pivotal in scaling their real estate ventures.
• Long-term Goals and Generational Wealth: Discussion on their long-term goals, including building generational wealth and impacting others by opening doors to real estate opportunities.
• Advice for New Investors: The Polites offer advice to new investors, stressing persistence, education, and the reality of real estate investment not being a 'get rich quick' scheme.

Resources:

• Sign up for a Free Mentor Panning Session: https://www.RonLeGrand.com/Plan
• Free Training: www.TheMentorPodcast.com/Terms
• Get Ron’s $599 Wholesaling course for FREE when you join his Gold Club for ONLY $59 a month! – www.TheMentorPodcast.com/GC164

What you'll learn about in this episode:

In this jaw-dropping episode of The Mentor Podcast, host Ron LeGrand sits down with cost segregation expert, Joe Viery, to uncover significant tax-saving strategies for real estate investors.

Joe founded his company with the goal of providing quality cost segregation studies. As a Cost Segregation Professional, CSP, he has helped property owners defer or eliminate millions of dollars in income taxes by leveraging IRS compliant cost segregation studies.

Since becoming a CSP in 2007, Joe has performed thousands of cost segregation studies for clients in various industries ranging from $500,000,000 commercial properties to $50,000 single family residences.

Joe shares invaluable insights on how to leverage cost segregation for both residential and commercial properties, potentially saving thousands of dollars in taxes. If you're a real estate investor or planning to buy properties, this episode is a must-listen as Joe walks through the benefits of accelerated depreciation and energy tax credits.

Key topics covered:

• Accelerated Depreciation: How cost segregation accelerates depreciation for real estate investors and the benefits of time value of money.
• Tax Deductions: The types of components in a building that can be accelerated for tax deductions, such as flooring, appliances, and landscaping.
• Cost Segregation for Residential Properties: The applicability of cost segregation not only for commercial properties but also for smaller residential properties.
• Tax Credit for Energy Efficiency: How energy-efficient upgrades in properties can qualify for significant tax credits through the 45L program.
• Depreciation Recapture: Understanding the implications of depreciation recapture and how cost segregation can mitigate it.
• 1031 Exchanges: The impact of cost segregation on properties involved in 1031 exchanges and how to maximize tax benefits.
• Bonus Depreciation: The phasing out of bonus depreciation and what it means for real estate investors.
• Tax Planning: The importance of consulting with tax professionals and financial planners to make informed decisions about cost segregation.

Resources:

• For a Free Estimate, go to www.TheMentorPodcast.com/Costseg
• Sign up for a Free Mentor Panning Session: https://www.RonLeGrand.com/Plan
• Free Training: www.TheMentorPodcast.com/Terms
• Get Ron’s $599 Wholesaling course for FREE when you join his Gold Club for ONLY $59 a month! – www.TheMentorPodcast.com/GC163

What You'll Learn About in This Episode:

In this informative episode of The Mentor Podcast, Ron LeGrand is joined by Jamie Holmes. Jamie brings over 12 years of experience in loan origination to the table, distinguishing himself as one of the top 1% of originators in the United States. Throughout his career, Jamie has successfully originated over $400 million in loan volume. Licensed in Florida, Georgia, Alabama, and Virginia, he has a broad reach and a deep understanding of diverse mortgage markets. Outside of his professional life, Jamie is a dedicated father of two and a proud cat dad, balancing his personal and professional commitments with passion and dedication.

Join them for their discussion on the intricacies of various loan types, especially focusing on VA loans, FHA loans, and conventional loans, as well as providing valuable insights into the lending process, the impact of credit scores, and how to navigate the ever-changing landscape of loan requirements.

Key Topics Covered:

• Understanding VA Loans: Jamie discusses the benefits and flexibility of VA loans, including no down payment and no strict DTI (Debt to Income) threshold. He also explains the VA entitlement and how veterans can maximize this benefit.
• FHA Loans Explained: The conversation covers the essentials of FHA loans, including their lower credit score requirements and the implications of the debt-to-income ratio. Jamie highlights the challenges and common issues faced by borrowers when applying for FHA loans.
• Conventional Loans: They delve into the details of conventional loans, including down payment requirements and the influence of a borrower's credit score on loan terms.
• Loan Application Process: Jamie outlines the standard documents required for a loan application and the importance of a thorough credit check.
• Credit Score Impact: The discussion emphasizes the critical role of credit scores in determining loan eligibility and terms, debunking common misconceptions about credit pulls.
• Real Estate Professionals' Tips: Ron and Jamie discuss strategies for real estate professionals to assist their clients better, including understanding the nuances of different loan types and preparing clients for the application process.

Resources:

• Need help with a loan? Contact Jamie at www.TheMentorPodcast.com/JamieHolmes
• Sign up for a Free Mentor Panning Session: https://www.RonLeGrand.com/Plan
• Free Training: www.TheMentorPodcast.com/Terms
• Get Ron’s $599 Wholesaling course for FREE when you join his Gold Club for ONLY $59 a month! – www.TheMentorPodcast.com/GC162