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welcome everybody we're live now these are my two props I'm wearing headphones to get in the mood and to prove that I'm hip and cool and then I was also wearing glasses to try to help myself look smarter but anyway those props are done we're ready to roll thanks for being here today got to keep it fun and entertaining thank you so much for watching we're live on Facebook at entrepreneur also the Kohler channel and live on YouTube we've got a lot of questions we're here talking about real estate tax and legal structuring it's hard to get a straight answer out there there's a lot of misdirection some confusion people selling very elaborate structures various spendy say you know you can get as many entities as you want in the future for one flat price I don't know so I'm here for you I want to make sure that you get the straight answer the right answer and an honest answer about how to structure your real estate and should you even be investing in a real estate so let me just say this as an attorney as a CPA and our law firm an accounting firm I'll do probably nine hundred to a thousand consultations any given year sure I'm slowing down a little bit on consultations a lot to teach and train and manage my staff but I'm in the office every day but in these thousand consultations that I would have any year on a regular basis that's three or four a day nothing over the top I would see patterns I would see examples of my clients that were really really smart and successful and clients that were train wrecks and I was trying to help and everything in between well let me just say this I'm not kidding honestly and I think I was the biggest benefactor of seeing this and learning this my successful clients year after year consultation after consultation there was a common thing they would have real estate in their portfolio they would they would and I'm not just talking about REITs in the stock market or you know some sort of mutual fund that's focused on real estate I'm hanging up my successful clients have passive cash flow from some former real estate it could be nowadays Airbnb svr BOS it could be story units mobile homes multi-unit for plexes apartment buildings single-family homes commercial buildings where does it stop guys real estate is where wealthy people put their money you know that let me just repeat it because you know it wealthy people park a lot of their money in real estate and that's what you should be doing so I want to show the structure we have a lot of questions already in the hopper we're gonna hit it I'm gonna rock and roll will be here for 3045 minutes you got a tax question a legal question I'm here for you I...
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