The Legacy Wealth Code Podcast

Michael Notbohm & Andrew Hoek

Welcome to the "Legacy Wealth Code" podcast, where we unravel the secrets of real estate investing, tax strategies employed by the uber wealthy, and the art of building a lasting legacy. Join us on this captivating journey as we explore the pathways to wealth creation, uncover powerful tax-saving techniques, and feature interviews with successful business owners who have mastered the art of building generational wealth.

In each episode, your host Michael & Andrew, will guide you through thought-provoking discussions, insightful interviews, and expert advice from renowned investors and financial gurus. Together, we will dive deep into the world of real estate investing, examining various strategies such as property flipping, rental properties, commercial real estate, and syndications. Discover key principles, practical tips, and industry trends that can help you make informed decisions and maximize your returns in today's dynamic real estate market.

But that's not all. "Legacy Wealth Code" delves into the fascinating realm of tax strategies, unveiling the closely guarded secrets of the uber wealthy. Learn how they employ legal techniques to minimize their tax obligations and explore the intricacies of tax planning, entity structuring, 1031 exchanges, cost segregation, and more. Unlock the power of tax optimization and gain insights that could potentially save you significant amounts of money.

Additionally, we bring you exclusive interviews with highly successful business owners and entrepreneurs who have mastered the art of wealth creation and legacy building. These captivating conversations will provide invaluable insights, personal anecdotes, and actionable advice on overcoming challenges, seizing opportunities, and leaving a meaningful impact on the world.

Whether you're an aspiring investor, seasoned entrepreneur, or simply curious about the world of wealth creation, the "Legacy Wealth Code" podcast will empower you with the knowledge and inspiration needed to embark on your own path to financial success. Join us on this transformative podcast as we decode the secrets of real estate investing, reveal powerful tax strategies, and guide you towards building a remarkable legacy that will endure for generations to come.

Tune in to the "Legacy Wealth Code" podcast and unlock the blueprint for financial freedom, tax optimization, and the creation of a legacy that stands the test of time.

read less
BusinessBusiness

Episodes

The Passive Income Playbook -A Build to Rent Strategy Giving You Time Freedom & Financial Prosperity
Mar 14 2024
The Passive Income Playbook -A Build to Rent Strategy Giving You Time Freedom & Financial Prosperity
Unlock the secrets to building long-term wealth with real estate mogul Jim Sheils in this latest Legacy Wealth Code episode. Having triumphed over the challenges of Andrew's heart surgeries, my co-host and I, Michael Notbohm, are thrilled to bring you a conversation brimming with strategies for cultivating a robust portfolio. Jim, a partner with Southern Impression homes, takes us through his remarkable journey from seizing foreclosures to pioneering within the build-to-rent sector, crystallizing why patience and top-tier investments are non-negotiable for legacy builders.Imagine a world where construction loans are a relic of the past. That's the reality we've created at our firm post-acquisition by Sumitomo Forestry, a game-changer for buyers weary of the traditional hassles. In this conversation, we peel back the layers on our edge in securing favorable mortgage rates for clients, while dissecting Florida's housing market with precision. With insights on rental inventory management and risk assessment, we equip you with the foresight to navigate the housing landscape with confidence.This episode isn't just about the nuts and bolts of the market; it's a masterclass in investment strategy. From the allure of single-family homes and duplexes to the high-demand quad properties, we lay out the blueprint for selecting markets poised for growth. Join us as our guest imparts the wisdom of balancing the scales between holding power and recognizing market corrections, affirming the enduring rise of real estate as a cornerstone of wealth. For any investor, from the greenhorn to the grizzled veteran, this is your map to charting a course toward a prosperous real estate legacy.Onward!Visit Us OnlineOUR WEBSITEFACEBOOKYOU TUBE
Wealth Building Tactics Uncovered: Insights from Tax Strategist Alexis Gallati
Dec 14 2023
Wealth Building Tactics Uncovered: Insights from Tax Strategist Alexis Gallati
Join us on a journey to financial success and legacy building as we sit down with the incredibly insightful Alexis Gallati, a tax strategist with a knack for making tax planning an accessible and powerful tool for everyone. Imagine a world where even ordinary individuals can leverage the same tax strategies employed by the wealthiest among us to secure their financial future. That's what we unpack in this enlightening conversation with Alexis, where we break down the significant differences between a tax preparer and a tax strategist.In our journey to financial stability, Health Savings Accounts (HSAs) and retirement plans often go underutilized. Fortunately, we have Alexis to guide us through the intricacies of these tools and how to maximize their potential! From saving receipts for future use to fully leveraging employer-matched retirement plans, we navigate the terrain of cash balance plans—a complex yet potentially rewarding venture that demands careful management. We even delve into the world of deductions that can be claimed for personal expenses through businesses, a topic sure to pique the interest of small business owners and the self-employed!Tax strategy doesn’t have to be complex, and it’s not just for the super-rich. Whether your income comes from a W2 or 1099s, we’ve got you covered. We explore retirement planning and tax strategies tailored for individuals with mixed-income sources. Alexis also enlightens us on the wide spectrum of deductions that can be taken for personal expenses through a business—from the home office and mileage to per diem for travel. Wrap up your listening experience with our deep dive into Opportunity Zones and 1031 Exchanges, alternatives that could offer tax-free income and appreciation. It’s a comprehensive financial masterclass you wouldn’t want to miss! Remember, your path to a financially secure future and legacy building may just be a podcast episode away. Tune in, and let's begin this journey together!CONNECT WITH ALEXIS  Alexis@CerebralTaxAdvisors.com  CerebralTaxAdvisors.comCerebralWealthAcademy.com617-699-3487 (TEXT) in/Alexis-Gallati  /CerebralTax Onward!Visit Us OnlineOUR WEBSITEFACEBOOKYOU TUBE
Truly Passive Income: How RPM Investments Revolutionizes Real Estate Lending for Effortless Returns
Dec 11 2023
Truly Passive Income: How RPM Investments Revolutionizes Real Estate Lending for Effortless Returns
Ready to unearth the secrets of successful real estate investing and hard money lending? For this episode of the Legacy Wealth Code podcast, we had the pleasure of chatting with Ryan McGuinness an industry titan who started his adventure in equities and options before hitting the jackpot in real estate. Ryan walks us through his shift from flipping houses to private lending in 2015, introducing us to a business model that offers both quick loan approvals and a passive investment avenue for lending partners. As we navigate the landscape of hard money lending, Ryan opens up about the rewards and risks tied to lending vast sums to real estate investors. He shares his journey to growing his business to a whopping $90 million, all while maintaining premium service quality. Ryan delves into the art of building robust relationships with lending partners and managing borrowers, offering invaluable insights to anyone looking to make it in the industry. But that's not all. We steer the conversation towards real estate investing, where Ryan, now the CEO of a thriving lending company, spots the benefits of investing in short-term loans. We talk about the impact of rising interest rates on the real estate market and how hard money lending can be a lifeline for real estate agents and buyers. So, gear up for an episode brimming with golden nuggets about the real estate market and hard money lending.Contact RPM  Realty Investments at 352-262-3722Instagram @rpmrealtyinvOnward!Visit Us OnlineOUR WEBSITEFACEBOOKYOU TUBE
Mastering the Tax Code: Your Secret Weapon for Wealth Creation
Nov 6 2023
Mastering the Tax Code: Your Secret Weapon for Wealth Creation
Ready to take your real estate investment strategies to the next level? We promise that by tuning in to our latest episode, you'll understand how to maximize your tax benefits before the year ends using cost segregation strategies and bonus depreciation. We dissect the inner workings of cost segregation, highlighting how bonus depreciation was at a staggering 100% from 2017 until 2022, before dropping to 80% in 2023, and then plummeting by 20% each year until it disappears. Discover what other investment avenues offer higher initial deductions than single-family homes and how you can deduct as much as 25-30% on an $800,000 structure.Ever wondered why office buildings and car washes could be your ticket to significant tax savings? We take you through a journey revealing the tax boon these assets can offer. The power of cost segregation and its dwindling bonus depreciation period is explained, underlining the urgency to implement these strategies. We also delve into the essentiality of mastering the use of the tax code, which could be your secret weapon for wealth creation. Throughout the episode, we underline the discipline required for shrewd investing and the importance of leveraging government incentives. Get ready for real-world examples and insights that illuminate the potential tax deductions on structures like an $800,000 office property. This episode is a treasure trove for anyone looking to elevate their tax savings game and real estate investments.Onward!Visit Us OnlineOUR WEBSITEFACEBOOKYOU TUBE
From First Time Buyers to Investment Strategies: Real Estate Insights with Doug Schmitzer
Oct 3 2023
From First Time Buyers to Investment Strategies: Real Estate Insights with Doug Schmitzer
Get set to unlock the world of real estate and mortgages in our enlightening conversation with the industry virtuoso, Doug Schmitzer. With his profound experience in the mortgage business and the property market, Doug unravels the enigma of the current market scenario, the escalating rates, and their influence on people's buying behaviors. Despite the high rates and market changes, Doug elaborates on how home buying remains a constant pursuit, offering a clear picture of the industry dynamics.Are you a first-time homebuyer? Navigate the complexities of the current market with our astute guest. We delve into the challenges you might face, and dissect how supply and demand are influencing those planning to upscale. From FHA assumable loans to private money and hard money loans, we dissect various alternatives while shedding light on the intricacies of transforming a property from a flip to an Airbnb. In the final leg of our intriguing dialogue, we underline the significance of legacy and setting the right priorities. Doug shares his conviction on how a goal and legacy to strive for can impact financial success. He candidly talks about his outlook on having financial success without a strong bond with his family. We wrap up our conversation discussing the best advice for a college freshman, ensuring this episode is a treasure trove of insightful advice and motivation.Onward!Visit Us OnlineOUR WEBSITEFACEBOOKYOU TUBE
Innovative Strategies in Real Estate: Exploring Investment Success with Romano Muniz
Aug 22 2023
Innovative Strategies in Real Estate: Exploring Investment Success with Romano Muniz
Are you ready to stretch your real estate investment boundaries? In our latest episode, we sit down with Romano Muniz, the COO of Blue Modo Media. His fascinating journey from residential to commercial and industrial real estate is full of innovative strategies that will make you question everything you thought you knew about property investment.Romano regales us with tales of buying properties at an astounding 80% discount in bankruptcy deals, and how he's learned to leverage the time value of money. From low buying to high appraising, we tackle a range of strategies that have helped Romano achieve massive success. He gives us an inside view into his unique methods of investing in real estate, which include unconventional tactics like leveraging cell phone rights and using cost segregation. The world of creative financing is vast and varied, and we discuss options like seller financing, assumable mortgages, and rev share agreements that can open up new opportunities for your real estate ventures.But successful investing isn't just about the deals and dollars. We get real about the challenging aspects of real estate, emphasizing the importance of being strategic and intentional in all actions. Moreover, we reflect on the importance of building generational wealth and creating a legacy that will outlast us. This episode is an infusion of wisdom and actionable strategies that will inspire you to elevate your real estate game to new heights.Onward!Visit Us OnlineOUR WEBSITEFACEBOOKYOU TUBE
Dissecting Real Estate Investing Trends and Opportunities in Affordable Housing
Aug 8 2023
Dissecting Real Estate Investing Trends and Opportunities in Affordable Housing
You're not just in for an informative episode but a wealth of wisdom on real estate investing trends and opportunities. Your hosts Michael and Andrew, roll up our sleeves to dissect the current state of the real estate market. We scrutinize the surprising resilience of the market despite the indicators suggesting otherwise, and unearth potential hotspots for investors amidst the projected downturns. Listen in as we delve into the boom of growth in the larger cities, predominantly in multifamily apartment complexes, condos, and class C apartment complexes. Plus, we reveal how savvy investors can ride the wave of markets that have strong job growth and tax benefits.Venture with us into the second half of our episode as we delve into the challenges of providing affordable housing in today's market. From the high cost of construction to finding willing sellers, we unravel the complexities of this sector. But don't despair just yet! We share our insights on the hidden potential of manufactured homes and the opportunities that the current interest rate landscape may offer. And for those with an eye on the future, we discuss what economists predict about travel and spending habits come summer 2023. With Labor Day as a key date to watch, this episode is jam-packed with insightful tips, strategies, and forecasts that could guide your next move in the real estate investing world.Onward!Visit Us OnlineOUR WEBSITEFACEBOOKYOU TUBE
Building an Empire: Amassing Wealth One Property at a Time with Matt Chase
Jun 11 2023
Building an Empire: Amassing Wealth One Property at a Time with Matt Chase
Do you dream of a future filled with financial freedom and a lasting legacy for your family? Today, we're joined by Matt Chase, a successful real estate investor who's built an impressive portfolio and a fantastic life using smart strategies and a dedicated team. In our conversation, we reveal the secrets to real estate investing that have allowed Matt to create lasting wealth, a flexible schedule, and a family legacy.As Matt guides us through his journey from fresh college graduate to real estate mogul, he shares the methods he uses to find and buy properties, and how he manages them using BILDIUM software. Our insightful chat also covers Matt's approach to long-term holds, tax strategies, and how he leverages the bank's 75% loan-to-value to purchase and refinance without spending a dime. If you've ever wondered about the challenges of finding and managing a real estate team, Matt's firsthand advice could be just the game-changer you've been looking for.But building wealth isn't just about money; it's about leaving a lasting impact on our families and our communities. We discuss the importance of teaching financial literacy to our kids, the shortcomings of our education system, and how we can create a legacy through giving back. By the end of this episode, you'll be inspired and equipped to start your own journey towards creating a lasting legacy through real estate investing. Join us for an unforgettable conversation with Matt Chase and start building your dream life today.Onward!Visit Us OnlineOUR WEBSITEFACEBOOKYOU TUBE
Real Estate Investing Pitfalls to Avoid
Jun 6 2023
Real Estate Investing Pitfalls to Avoid
In this revealing episode of The Legacy Wealth Code Podcast, we dig deep into the dramatic downturn of the Applesway Investment Group, a once-prolific real estate entity now grappling with a wave of foreclosures on their apartment complexes. Through an enlightening case study, we shine a light on the common pitfalls and missteps in real estate investing, while offering crucial insights for those looking to successfully navigate this field.Join us as we explore how Applesway fell prey to the increasing interest rates, a key economic factor that many investors fail to adequately prepare for. In our conversation, we shed light on the implications of fluctuating interest rates on real estate investments and ways to safeguard your investment portfolio against such unpredictable shifts.We also delve into the often overlooked yet crucial aspect of deferred maintenance costs. With Applesway's predicament as a cautionary tale, we explain why ignoring these costs can ultimately prove to be a serious error of judgement, leading to financial strains and potential foreclosure.Moreover, we analyze the impact of mismanagement on Applesway's operations and its devastating effect on their investment outcomes. Through expert commentary and analysis, we underscore the importance of effective and efficient management in maintaining the health and profitability of real estate investments.As a vital episode for anyone with a stake in the real estate market, we provide an in-depth exploration of these pitfalls and how to avoid them, to make the most of your investments while minimizing risk.Listen to 'Real Estate Investing Pitfalls to Avoid - The Case of Applesway Investment Group' to gain valuable insights and ensure your investing journey is built on solid ground.Onward!Visit Us OnlineOUR WEBSITEFACEBOOKYOU TUBE