Jan. 31, 2025

Mastering Wealth, Business, and Tax Strategies with Loral Langemeier | RMT402

Mastering Wealth, Business, and Tax Strategies with Loral Langemeier | RMT402

This week I am sharing expert financial strategies to help entrepreneurs, investors, and business owners make, keep, and grow their wealth.

Through real-life case studies—including a Canadian investor building generational wealth, a US based chiropractor transitioning into life coaching, and entrepreneur exploring real estate and crypto investments—I demonstrate how custom financial strategies create smarter wealth-building decisions.

Financial success comes from informed decisions and expert guidance, not surface-level advice and for that reason this episode is a must-listen for anyone looking to take control of their financial future and build, protect, and grow wealth.

Loral's Takeaways:

  • Tara's Question on Generational Wealth and Trusts (05:58)
  • Sandy's Question on Tax Strategy and Business Structure (08:46)
  • Natalia's Question on Coaching Business and Real Estate Investment (19:28)
  • Elizabeth's Question on Monetizing Real Estate Business (30:32)
  • Thad's Question on Business Structure and Tax Planning (37:00)
  • Stephanie's Question on Managing Debt and Business Income (45:10)
  • Deanna's Question on Leveraging Property and Avoiding Capital Gains (54:23)
  • Audrey's Question on Increasing Income and Business Structure (59:40)
  • Tax Year and Wealth Builder Calendar (1:05:38)
  • Q&A Session and Strategist Support (1:06:55)


Meet Loral Langemeier:

Loral Langemeier is a money expert, sought-after speaker, entrepreneurial thought leader, and best-selling author of five books.

Her goal: to change the conversations people have about money worldwide and empower people to become millionaires.

The CEO and Founder of Live Out Loud, Inc. – a multinational organization — Loral relentlessly and candidly shares her best advice without hesitation or apology. What sets her apart from other wealth experts is her innate ability to recognize and acknowledge the skills & talents of people, inspiring them to generate wealth.

She has created, nurtured, and perfected a 3-5 year strategy to make millions for the “Average Jill and Joe.” To date, she and her team have served thousands of individuals worldwide and created hundreds of millionaires through wealth-building education keynotes, workshops, products, events, programs, and coaching services.

Loral is truly dedicated to helping men and women, from all walks of life, to become millionaires AND be able to enjoy time with their families.

She is living proof that anyone can have the life of their dreams through hard work, persistence, and getting things done in the face of opposition. As a single mother of two children, she is redefining the possibility for women to have it all and raise their children in an entrepreneurial and financially literate environment.

 

Links and Resources:

Ask Loral App: https://apple.co/3eIgGcX

Loral on Facebook: https://www.facebook.com/askloral/

Loral on YouTube: https://www.youtube.com/user/lorallive/videos

Loral on LinkedIn: https://www.linkedin.com/in/lorallangemeier/

Money Rules: https://integratedwealthsystems.com/money-rules/

Millionaire Maker Store: https://millionairemakerstore.com/

Real Money Talks Podcast: https://integratedwealthsystems.com/podcast/

Integrated Wealth Systems: https://integratedwealthsystems.com/

Affiliate Sign-Up: https://integratedwealthsystems.com/affiliates

 

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Transcript
Unknown:

I tried and I lied to myself, I gave up, and then I blame someone else for not chasing my dreams or facing my fears of failing all by myself. I struggled with how to create wealth, and I feared what was in my bank account, until I stepped up and joined the world's community, and now I found the line in me that was flickering and slowly fading, but now I have a millionaire Pat to financially become free at last, because I come out from underneath. Take a good look at me, because I'm living my dream, and now I can see all I've achieved once I sat at the big table to be a teammate millionaire.



Unknown:

I used to think that my life was about my journey, but that I found out bigger than me, so I invited myself to make an impact on humanity. That's what I wrote, my sequence plan, and I followed the steps and took action. Now money flows to prosperity, and I'm taking the world with me, because I found the line in me that was flickering and slowly fading, but now I have a millionaire Pat to financially become free at



Unknown:

last, because I 12 welcome everybody. Welcome to Ask Laurel for members only. Glad everybody's here. Jump into the chat. Let us know where you're joining us from. I'm going to go ahead and jump over here to a quick little, little presentational slide there. Why do we have ask Laurel for members only? Because if you can't ask a question about money, you can't start a conversation about money ask. Laurel is created for you to bring your questions and get that interaction that you've been looking for to make a decision, are you committed or are you interested to getting the result that you're looking for? So really quick a technical instruction for those of you that are here today, those of you that are joining us as guests, welcome. You probably got invited by your strategist or your senior strategist, if that's the case, welcome, hang out and jump into the chat and ask any questions as we progress through the call. Today, those of you that are here as our one on one guests, you'll be receiving an invitation from me from integrated well systems to join us as a panelist. So you'll see a prompt on your screen that says, integrated well systems wants to invite you to become a panelist. Go ahead and click Yes. That invitation will then take you into our green room, where you can then, at that point in time, turn on your video, turn on your audio, and join us live with that being said, I'm going to go ahead and look at our guest list and get that ready. I'm going to turn it over to Laurel so that way she can jump in and welcome everybody to the call. Looks



Unknown:

like Laurel stepped away for just a moment. So here's what we'll do. I'm looking at our guest list now, and I'm just making sure that everybody's here, everyone's available. Quick thing is, if you are here logged under an iPhone or a different type of a device, we'll take a moment to hover over your name, hit the more options in the menu and rename your device to first name and last name so we know who you are. Let's see it looks like. Tara, you're here. Mary, yep. Take a look at CMB, you are here. Let



Loral Langemeier:

me. Let me jump in a little here. Steve, too. And welcome all of you. Appreciate all the work that goes in putting this together. Excited to talk to our guests tonight, and by now, you have talked to a strategist, you have talked to our team, gone through a gap you may have just, you know, begun this journey with us. So this is an opportunity to get some clarity that we actually know what we're doing, and we can't wait to help you get some answers and solutions and wherever that is in your life. And what we're known is help you make more money. A lot of you just need to learn to make money. It doesn't occur to you to make money. It occurs you to go get a job. So we want to teach you how to make money as an entrepreneur, how to be an entrepreneur for marketing, sales, cash flow. All of that, how to keep your taxes as low legally as possible by using corporate structures and corporate relationships and then and then everything that goes with your whole financial foundation. I'd say 99% of the people that walk through here need a like an overhaul of their foundation, because they kind of built it one by one since they were 18, and they got a lot of band aids and duct tape, putting holding their plan together, like that. Sandy, like my new his band aids and duct tape. It's not like, and if you, and if you're doing your own plan and like, you have to know there's experts that this is all they do in their life. Is how highly specialized? Like, if you were a surgeon, like, would you let me do your surgery? No, I wouldn't want to touch it. I'd probably pass that with the blood. But my point is, you use experts other places in your life. Why not an expert in your business and financial life, which actually is your entire financial legacy, I call your financial infrastructure. So with that, let's get going. We have Tara Sandy Natalia. Who do you have out there? Steve, you're going to come up. I'll read the question off that was put in. We can have a quick conversation, and then we're going to keep moving so we get everybody through today



Unknown:

Absolutely. So first up is Tara. Tara went ahead and see that panelist invitation. Go ahead and accept that once you're in the waiting room, go ahead and turn on your video, turn on your audio, and it looks like we got Tara, she's available. Sandy is available. Elizabeth Thaddeus, Stephanie and Deanna. And it looks like I'm still waiting on Natalia and Audrey as of right now. Okay,



Loral Langemeier:

well, let's begin. So Tara, hi. How are you? I'm good. How are you, Laurel, I'm great. So from Canada. Where are you in Canada? Toronto? Oh, that's like being from California in the US it



Unknown:

is. Well, they call it, they say that Ontario Canada and California, us, they're actually very similar states. There's more Ontario's in California than there are in the rest of the provinces of Ontario, of Canada.



Loral Langemeier:

You guys get taxed to pieces. Is insane. So



Unknown:

I do. I also have a condo in Fort Lauderdale, though, so kind of where my question comes from, and and what



Loral Langemeier:

so you live in Canada, you own a home here as well as in Florida. Is the Florida property in your name, or is it an empathy what's in your name and you're no longer for some full time employees. Congratulations, you're now trying to start a business. Have you ever been an entrepreneur? Um,



Unknown:

I have failed twice, and this time is not an option for success. I have two daughters going to university, so



Loral Langemeier:

got it. You already have a corporate Canada and an LLC in the US. You want to create generational wealth education for your two university age daughters. I'm thinking about opening a trust, and it's placed in your properties, and so you don't the you don't you can think about it, but we will our, our expert teams will tell you, and we'll help you open it. Because depending, I mean, are they going to go to school in Canada? They going to go to school in



Unknown:

the US? So my eldest is kind of where it started. My eldest actually is one of the top schools in Canada and the world and one of the top programs, hardest to get into. So she's my inspiration. So now I need to step up my game and be something that she can look up to, Yep, good.



Loral Langemeier:

So a trust is necessary, but we're going to let our experts take a swing at that. My point in asking is, will it be a Canadian trust, or do you see yourself actually doing more business in America? I



Unknown:

don't. I don't even care about Canada. I care about America. Canada is the is the same size as California, so I want the other 50, you know, 49 states



Loral Langemeier:

well, and we have a better tax code, and we have exactly election but



Unknown:

I'm a Canadian citizen, so I'm not sure how I'm supposed to do this. Well,



Loral Langemeier:

that's the other part of it. We I think you're if Sandy hasn't told you you didn't read I was married to a Canadian for years, so we have an amazing team up there. I also have great immigration lawyers. So I know, like, there's just a variety of ways, the kind of company you could set say, down here, if you, if you build it big enough, fast enough, and and put enough Americans to work, like when I went to Australia, just give you those terms, because I know them. Yeah, I had to make a half million within 18 months and put five Australians to work, to have to just be able to walk into the country and have and and just like be I'm in, I don't need to be visa in. I set a company into their country and gave them their their criteria. So we'll walk through all those options before you make any of these decisions, which also a trust is urgent, but not as urgent as that decision, because if we go that way, then we would probably set you into both countries, America dominating, because our laws give you just more benefits. There's just there's more corporate structure being taxed. There's 81,000 pages of taxes. There's more diverse assets. There's better self direct. Of your money. There's just, we don't have just the five banks that control everything. It's just you can get funded. I mean, there's just a whole another way we can live. And granted, I've done solve the world, so we've made it work, but it's you can't do all the strategies that you hear me say on YouTube and all my channels everywhere in the world, that your laws just don't allow it. That's why a lot of people who start and you have some flexibility. I mean, you can come down Florida, so that's cool. You already have some. I also



Unknown:

have a American man who is willing to marry me. I just, I don't want to get married.



Loral Langemeier:

Prenuptial, prenuptial. Where's that American man? Prenuptial. Or you both do trust in New York, New York and Florida. Okay, well, we'll work on that. What's your LLC in the US do, though, now? What? Why do you have a LLC in the United States?



Unknown:

Um, I'm doing business consulting. My background is advertising and marketing, but I do have some financial background, and I've gone into business with my partner, who is in the finance industry? Perfect.



Loral Langemeier:

Okay, so then, like, again, we have experts who would look at that LLC, look at that operating agreement, just make sure all these things that you did to yourself so far are are document like, cleaned up. So then we can continue just to build a bigger house of cards for you that will not fall down. So a trust is the right way to go. But considering you haven't made anything in the business, I wouldn't do again that yet. Let's make some other decisions. First, how you're gonna make money, where you're gonna make money, where you wanna domicile again. New York is right next to California, so Florida would be my preference of all the things you've talked about. Or even in the Carolinas, great stuff going on, and there would be so many opportunities because of that hurricane in the Carolinas to grow and build real estate. I mean, there's just so many opportunities coming into that state. How about



Unknown:

Florida? Is it? Is it only the Carolinas or Florida was hit as well? Does that affect?



Loral Langemeier:

It's just, it's different because of the way that North Carolina was hit. I mean, an entire town was decimated. That's a really special town, Asheville. So it's, it's going to come back differently. There's always opportunity in Florida. But like Phoenix. I mean, a lot of the Canadians, as you know, they go to Phoenix, South Texas or Florida, right? So you got a lot more, you know, price you got, you have bigger prices, potentially, Airbnb rent them. So that stuff will I'll look at if that's what you want to get into. How would you benefit? How do I get the benefit of the US market while being Canadian? What else we're talking about it? So we have to figure out how you're going to have a company here at a bigger one than an LLC. An LLC won't be big enough for if you really want to do and like, have a social security card or a green card, however, that ends up working out. But you will go back and forth. We have tons of Canadians. I mean, Sandy goes back and forth. And he's, you know, Canada. Leanne's Canada. She's out here today. I



Unknown:

do a lot as well. I'm always back and forth. But my with my youngest being in high school, obviously, my main thing is here until June, and then she's off. She's leaving, so I'm



Loral Langemeier:

going to be an empty nester too. Mine doesn't leave till August, yeah. So it just gives you more freedom. And then to work with the girls, they're both girls. Yes, they're both girls. So to work with them, to be more business partners, shareholder partners, to, like, really work that strategy, like, strategically, then the US business could, you know, I know we have it in America, because we do it US companies can actually do educational reimbursement, including college. I mean, it's like anything else, putting somebody through school again. Canada's got some of that benefit, but not as have



Unknown:

our ESPs, yeah, for them already, right? But I'm talking to the Canadian education thing, yeah,



Loral Langemeier:

yeah, I know what that is, but I'm talking like using the company. Oh, okay, the any expense to the that that's incurred, including you traveling to see the girls is awful enough, because the company requires, the necessity of their degree in the company, upon graduate, 100%



Unknown:

100% you're getting. They're both in finance and business, that's what they're going into. So 100% so



Loral Langemeier:

necessary for the company to have that that skill set. So it's easy to do those resolutions, to put those in. So, yeah, I mean, from the company to the I mean, here's all the pieces. That's just so far that you've said, we'll start with the immigration lawyer. We gotta talk to him. Just give I just want you to see options that you probably don't even know exist. I mean, I learned so much, you know, marrying one and then during COVID, figuring out how to get him here, or does he stay there? Like, what do we do? Because, I mean, otherwise we'll be apart. That



Unknown:

was like fun, horrendous. I know I was absolutely fun



Loral Langemeier:

experience to try to sort that all out. But then how do you set up the trust? So from corporate, where the companies are, the compliance of the company, the documentation, the compliance of the trust, like all of that in the and then. I want to add in some life insurance. And then we set the trust depending on, you know, how you build your your legacy plan. So you add a lot of the components. We just got to clean some of them, add, add at least one or two more to it. Get you straight on where you want to be, clarity. And then we then, then you go into the trust, because moving, moving in and out of trust, it's just a lot of extra legal paperwork. You only want to do it once, and so let's make some decisions. Have you make some decisions for you, your family, then go. So it's done right once. Otherwise you gotta go back and amend and edit, and that becomes more costly, more painful. Just why duplicate? Yeah. So when are you and Sandy talking again about go far? All right, chop, chop. Let's go. April 28 29th I want to see you in Reno in our big table, April, April 28 29th is our next slide. We only do two weeks. Yeah, it's phenomenal.



Unknown:

Okay,



Loral Langemeier:

look forward to it. Excited. You too good to meet you? I'm ready. Okay, next we have sandy Hi. Dr, Sandy Martin,



Unknown:

how are you? I'm doing great, Laurel, thanks for asking good.



Loral Langemeier:

And you are from Michigan. I love Michigan. They didn't do quite as well this year, but I still like the buckeyes, the Midwest one. I'm a big football mom. You're working with Rebecca. Your question is, I'm working as a chiropractor. I want to move into women's life coaching, and in addition, I figured out I'm paying 33% in taxes. My CPA is lame. We know this. That's why we solve this problem. Fact, you're all going to be excited. I found another really, really great. I mean, just high, high level tax strategist, and she's going to help me train a little army. So we have a lot more availability and high touch. So not that they're not high touch now, but they're really packed right now. So we're about to expand that whole expert group. So I'm super excited that's happening on February. 12, yay. So you also own the building, awesome, the gray that you work out of. And is that incorporated, like it? It is, is your chiropractic business? There's two separate ones. And is it an SPC? Is it a



Unknown:

my chiropractic business is an S corp, and the properties company is an LLC



Loral Langemeier:

and in state of Michigan, yes. Okay, so you're not sure what the tax issue is about. How do you pay yourself? Are you are you taking distributions? Are you paying yourself a big salary?



Unknown:

I pay myself a lower salary and take distributions? Yeah, we gotta fix



Loral Langemeier:

that so you be moving so low salaries, accurate. So, I mean, again, our CPA, our tax strategist will, will come up with the formula, so that's accurate. But when you do both, I mean, it's just, it's just more money going straight to you, right? So, and you're making enough right now that you add coaching. I would say, don't, don't. Eliminate the car, the business right now with what you're making, I would add to it more health, wellness, life coaching. You call it what you want to call it, but I would add revenue and put that company in. We would put it in, actually Nevada, next to us, because that one is something you'll be doing online. And we have a better that that alone will just take these taxes, that and then how you invest money so you have, like you said, you you're the rest of your question was, I feel like I have the right path, but I haven't done anything about it. What's the first thing you should be focusing on? Getting into big table with us, talking to Rebecca. Let us fix the foundation, like I heard you say, like that, get the Nevada company in play, which is a different kind of company that has a different tax year in so now you have two different tax year ends, this one and the new one doesn't flow through to you and and actually can be an offset to you. A lot of CPAs won't do it. They don't know how to file those kind of corporate returns. So that's why they what they'll say is, you're not ready. I'm so tired of my clients tell me that their CPA say they're not ready. We plan for who you want to be. And then, you know, move very quickly with you to get you where you want to go, not the other way around. You know, build it as as you build it. I want to build it. And then, like my best mentors in the world said, we're going to build the foundation where your company should go, where the expenses should go, who pays for the phone, who pays for the car, who pays, you know, for what? And you pay for way less, get the companies active with more deductions, and then how you invest for better deductibility, and then you just go fill up the bank accounts. All right, right. I mean, I mean, if you build it one by one by one, here's what I find, is like you're at a place right now that if you, if we just focused on the coaching and help you build the coaching, which was with that could be a path, you got a bigger tax problem. So why not put in the structure and what it does in my. Experience, I wanted to motivate you to go, let's get that coaching practice up. I mean, I know how to run a multi million dollar coaching practice for now, going on over 30 years. So I know how to build these like I can build coaching practices in my sleep. So let's get you to half million, quarter million in that company too, right? And then I guess my



Unknown:

question is, how much hand holding do you guys allow when you're at the big table and everything? Because I'm like, Yeah, I have this structure, but I'm not doing anything about it, like finding the time to get this practice up and running



Loral Langemeier:

well. So a lot of the the corporate the corporate structure, the corporate compliance, the trust, all done for you inside of that February 12 training, I'm training some bookkeepers. So they'll be trained my way, so then they can be high touch. For you, you'll have my cell phone in the beginning. Everybody's high touch, because it's just so much new learning and so many different activities. You're like, right? It's gotta be a reset. So it's really high touch. And then in about, I say, 1824, months after several live tables, you're going to start getting the rhythm of it, and then you'll start putting some more, like local team around you, but you'll know how to lead them now, like right now you could, you could go out and find these people. We've seen it. We've seen in COVID. We've seen people go out and try to find people that they hear me talk about, but you still don't know how to lead them. Like, we have to train them and lead them. And one of two things, Julie goes,



Loral Langemeier:

Oh, is that I gotta go? Oh, that's Steve. Our timers up. That's a cool, new little feature. Steve, I'm like, what's that thing? That's a new thing. So will you go one by one so you're high touch? And then as far as the coach, the coach for you, because you have, you know, a bunch of coaching sessions, I would give you somebody who up that actually has, was the GM of my company, and he's one of our top coaches, and he has helped me with all my books. He knows how to build a coaching practice. I would give you him, and he'd focus you very clearly, on the marketing and sales of that coach. Coaching practice. What are the offers? How do you do it? So that would be off with him. Well, I work on foundation stuff with all the other experts, and then we go as fast as your little legs and arms want to move. Sounds like a clear plan. And most of the time you you like. What we see is people want the result quick, but they don't have enough team, so you're either going to have to hire a bookkeeper, or if you have a bookkeeper. Then once we get a little bit set up, then let me, you know, the bookkeeper will be on with you and I, and I'll help train the bookkeeper to do what I need them to do, your way. So a lot of stuff, you're just, we have to be because if I try to translate it through you, I mean, it's just it doesn't work. You need to go. Your focus is make money so you can go invest money. Ours is to make sure your teams are doing the right stuff for you, that they that you don't know how to tell them how to do all right, make sense? Does Cool? Well, it was great to meet you. How did you find us? I don't remember.



Unknown:

I knew. I went searching on websites for something, and this came across, and I was like, Oh, this is kind of cool. And then I got on a TMI conference,



Loral Langemeier:

good. And now you're here, and it's even cooler. Yeah, it is all right. Thank you. Meet you. What are you? And Rebecca, make sure you guys loop back. Rebecca, you got a time set?



Unknown:

Yep, yeah, definitely. Well, thank you



Loral Langemeier:

and Natalia, come on to the stage and you are from Florida, working with Sandy. You want to come live here? Young lady,



Unknown:

you see me?



Unknown:

Oh, wait, okay, I see what's going on here.



Loral Langemeier:

No, I see ya. Alright. So where do you live in Florida?



Unknown:

I live in Miami. I'm originally from New Jersey. Okay,



Loral Langemeier:

well, you're in a better tax state, at least. So you have a question here. It says I started, I'm starting my own coaching business, and also interested in investing in real estate and crypto. What platforms or tools you recommend to help me in both of these areas? I'm looking for resources I can support both my coaching growth and my investment journey. You have found the right place. I do all of that stuff. And then



Unknown:

I have another question, do you guys work with anything like credit repair? Oh,



Loral Langemeier:

gosh, yes, we do anything money. And if we don't have somebody, you know, depending on what you did to yourself, we will find them for and with you. So we make sure you pick somebody that's credible and is truly going to do what they say and take care of you. But we from credit repair to corporate credit, which is a big piece that we would put in. While your personal credit is getting repaired, we start building the corporate credit. So it's how you use the company. So we gotta set, you know, your coaching business into the right kind of a company, and then how you invest in the what those companies are. So again, like I told Sandy, the woman before you, I know of anybody I know how to build coaching companies like that's not difficult, and we just got to get your offers and your campaigns and get you out on social media and getting a good following and getting people converting. Into your coaching.



Unknown:

Okay, absolutely, I was hearing, I was I was picking up on what you were telling the other people too. So I'm writing notes as well. So



Loral Langemeier:

good. We got you every one of those little places. And we have a great team that we do. I still do, really great team I found in the last minute year and a half with tokens and nodes and like a mine connect in our link. And some, I mean, really live project grow, where you can actually go buy your food from farmers and pay with crypto. I mean, it's, it's cool, and we're, I really want grow to come all the way into the cannabis space, because there is no token, any sort of token structure inside the cannabis space. So that



Unknown:

was another, that's another peak that peaked my interest is the cannabis part as well. And I would like to maybe get involved in maybe selling a product as well. If you know that's or I should just take it one thing at a time. It's one we're



Loral Langemeier:

gonna go one thing. Let's get your coaching business up. Because once you get that up, you can, you can do that from anywhere, okay? And then as far as the cannabis business, just so you all know. And I've, you know, set it on recording too, for everyone. It is state by state. So if we, you know, have a, which, I have a CBD hemp CBD line that is, can be sold all over the nation, but peer, THC, in the state of Florida, is only a few strains that you can sell. So what is sold in Nevada has to stay in Nevada. It has to be sold to it like, I can't even take stuff off my farm. It has to go to a production facility. It can go to mine, but then it also can go to a dispensary. And even as an owner, you have to, you have to get from the dispensaries. You can't just take it off your farm because you want to smoke some weed or, I mean, very Nevada is the strictest closed state in the in in the country. But if Florida is coming along quite nicely, and there's a lot of business there, and our team has a lot of business there, so you know, we can introduce you to our team and see what opportunities, you know, just go work in it for a while. But again, that's like, to me, that's a distraction for you. Let's build the coaching practice. Get you some real estate, like, get get those things in order, and then that's like a next step, maybe in 18, you know, 24 months. Yeah.



Unknown:

The other thing I want to bring up is, I'm a veteran, so I have the veteran benefits in regards to buying real estate, which everybody keeps, you know, I have so many realtors that keep coming up to me because of the benefits of it. So I, I'm trying to figure out how to manage that as well. So that's also on my mind as well. So I



Loral Langemeier:

got a great plan for you on that young lady, because you have the benefit. And what does art Bigtable have a lot of people who would like that benefit and have cheaper money and different options. It's, it's a good, it's a good collection of people that you could partner with, where you don't have to come up with all the money, but you could do more and more projects, because you'd have more people, because you're going to meet right now, we're well over 100 our goal is our 25th anniversary of our big table. Our goal is to put 250 people in that room, I



Unknown:

mean, and that's the thing I like about this, because you have a sense of community. I You know what I mean, you have like, you know, support systems to, like, even just to navigate through all this, because it's like, so much information out there. It's just, you know, what you do with all it so well,



Loral Langemeier:

a lot of stuff that's out there is crap. I mean, it's really like, Well, I mean, we just over the last two days, learned somebody who's, you know, was fairly credible, was, like, bragging about some tax shelter, you know, thing that they could do. And it's like, no, you can't. You can't do that. So it's, it's a place for people who care about this conversation to, you know, as they throw the ball back and forth, it's like, well, would you do it? You do it like and then can you? Then you'd have, like, a group of people who actually do due diligence together. That's how you learn due diligence. That's how I learned due diligence is as a group, not just out by myself, hunting, pecking around the internet or reading a book on due diligence or risk analysis, you know, get to the field and do it together. You know, walk properties together. What do you're going to learn so much from other people who have way more experience, and that's where I'm going to coach you, like, lean up into those who have way more experience. And the myth is that they won't reach back down and pull you up to them. That's bullshit. That's not true. That's not how wealthy people, I mean, what people who have



Loral Langemeier:

beautiful I'm surprised you're not playing Mexican music, since you're down there. Yeah. So, yeah, we got you on that, so it's but I was gonna say the myth is that, you know, what we need are people with time and energy to give to projects. So collaborating together just expands more opportunity, because it expands more, you know, effective time being used.



Unknown:

I agree. So thank you, Laurel, one of



Loral Langemeier:

you two kids talking



Unknown:

this Friday. Yeah, we were booked for Friday already before this call. So go before



Loral Langemeier:

then, because, you know, we got this little like competition we have just so you all know, we have a fun competition going inside the house right now. So



Unknown:

every Wednesday. So, ha, ha.



Loral Langemeier:

I know somebody has already won on Monday, but you want to, I heard you on today, but you're not done. I might double it if you keep going, you know. Well,



Unknown:

bring it on. Bring it on.



Loral Langemeier:

You guys talk, and I'm available, just so all of you guys know I'm available back through audio files. So they'll the folks on our team, the strategist, will call me and say, hey, you know Natalia, she was one more question, and then I'll answer it, and then she'll forward it to you. So we'll just stay in the loop until, you know, like, Okay, this is my new home, my new financial family. People call us their financial family, and then we come adopt you.



Unknown:

Amazing.



Loral Langemeier:

Great to meet you. Thank you. Thank you. All right, Steve, let's bring up Elizabeth that Stephanie or DM, yep,



Unknown:

Elizabeth is up next. So Elizabeth, I sent you that invitation. Go ahead and accept it and come live and appreciate you. Natalia, let's go to get you back over here to our attendee room. There we go, and we should have Elizabeth jumping on there. Hi. Good



Unknown:

evening. Good evening,



Loral Langemeier:

good evening. How are you? Elizabeth, I am well, I'm



Unknown:

excited to talk with you. Today is my birthday, so I'm happy to connect with you in person. Or where



Loral Langemeier:

do you live in Texas, young lady,



Unknown:

I'm in San Antonio, the Alamo city. Perfect. Love



Loral Langemeier:

it. My brother's right outside of there. Your question, I know you're working with Laura, is that you own 31 rentals in Texas, six short term youth club houses. How do I monetize every aspect of my business and create additional income streams? You were like a dream little child to me, because this is what I did when I became a real estate millionaire. So first of all, are these in companies? Are these in a Texas LLCs? Are they or how are they all held? Are they in your name? They're all



Unknown:

they're all under LLCs. We have 15 LLCs.



Loral Langemeier:

Okay? And do you have 15 LLCs, NEC or S corp, any other companies?



Unknown:

Yes. So our flip entity is an S corp, and then the rest of them are held by the LLCs under a series LLC a parent entity with my husband. Okay,



Loral Langemeier:

alright, so I can already tell you, if I'm you, I would take and put a Nevada big management company. We can make it in Texas. We'll, we'll negotiate back and forth just and that's how we do it. We'll, we educate you on scenarios. You know, obviously we are Northern Nevada, Nevada, you know, folks, so we have a huge preference, I'd say that way. But Texas is like coming up right next to Nevada in, you know, great tax strategies as far as, like, growing it like, again, same thing I just told Natalia. I mean, you find some VAs you find, like, just how to how to get more capital to go bigger faster, like when I did it, we would go, we Oklahoma City and Norman, Oklahoma, or my markets, we would literally buy complete dodgy to complete blocks of a city, and we would remodel blocks at a time, so we'd buy in high volume. So I mean, we would start like when I was done, I had not only the real estate investment company at a construction Well, I had you a hauling company, because hauling shit away costs, as you know, a ton of money. So why not own your own company and pay for that yourself and have it be a write off instead of call one 800 got junk and pay them an amazing amount of money. So you gotta haul the stuff. You gotta renovate. You gotta have a renovation, or at least some level of construction. If you go ground up, or even, like high, high, high renovation, you gotta have that I did, like cleaning company, staging company, you name it. I didn't leave a penny on the table. If I needed it, a vendor, I would first say, Hmm, who wants to own this company with we? Should we own together? I own the property management companies. So, I mean, we did it all, and know how to do it. The bigger thing is we have some bookkeepers who know how to bookkeep all that that is going to be massive for you, because the bigger you get. And what I mean I was I so many entities when I did all this too. So it's all gotta stay aligned. You gotta have the documents to corporate compliance structure. So it's like growing up. I think for you, you've done amazing, but it's now, it's like time for the next expert team to come in and help take take you to the next level,



Unknown:

right? Because I all of those things you just line outlined, the hauling, the rental, the cleaning, yes, I pay all of those out of our entities, but I never, and I self manage all of the rentals right now, and I'm not paying myself that should



Loral Langemeier:

be its own, very structured. I mean, I think I still have way back there in our little storage somewhere, this big old binder of when I taught property management, because my property management partner Sue, everybody wanted us, you know, everybody wanted us to teach them to do property management. And I said, All right, we're going to teach you. We're going to teach you how to really do it. We tell them everything, like we didn't leave one line item out, and they're like, Oh, my God, this is so much work. We could you just manage it for? Us, and that's how we end up acquiring so many properties, is we would just tell them the truth of how much work. And of course, we told all the nightmare stories of tenants, you know, driving their cars to, you know, the apartment drunk and partners breaking up, and somebody's stealing the post office key where all the cash goes, you name it. I have seen it, it and, oh, it's we got you, I'd love to help you build this, because I've, I've built a lot of them. I mean, I'm in one of these right now with somebody that came in, Justin, came in six years ago. Can't believe it's been six years, and I become partners with him, and we do this in Kansas now. So again, it came from he started with flooring and a few residential and now it's commercial. He's a broker, so we keep, you know, more money in the house. He owns the construction grew his flooring company, also becoming a distributor of products you use. I mean, I can go on and on. I mean, know how to do it. I've helped many of our clients build this, and I don't I started time for you to go, yes.



Unknown:

So I also started, like an affiliate marketing company to where, like the alarm systems that we use, we earn residual income on the alarm systems, and trying to roll over getting more tenants on internet our internet providers through ATT and spectrum partnerships. So that way we earn residual income on that but I'm having a hard time converting the tenants out of their accounts into our account, so that way we can get them,



Loral Langemeier:

we'll go through a whole incentive program that I will teach you about and how you do incentives to encourage that to all move, because then, once they're with you, what I found is, not only do they stay in those because I did all that too, they stay in they stay with you, renting. They they move. And they say, where do you head? Yeah, you know I want Am I moving here? Do you have a rental in that town or that?



Unknown:

Wow, time's up so fast.



Loral Langemeier:

Alright. So when are you and Laura talking again in the morning. Hi Laura.



Unknown:

Hey Elizabeth, perfect.



Loral Langemeier:

All right. Well, it's great to meet you. Congratulations on your success. Well done. So far.



Unknown:

I want to learn more, because I know I'm humble enough to know I don't know it all, and there's a way to get better. And I want to get better well,



Loral Langemeier:

and you, I mean, to not have a mentor and a guide like I wouldn't have ever done any of this without. And I'm in the process of interviewing too and hiring another one right now for myself too, because I gotta stay way ahead of you. People. Awesome, awesome. Well, great to meet you. Thank you, likewise. So we have Thad Stephanie and Deanna coming next.



Unknown:

Ryan looks like we have Thad is on deck now. Let me go ahead and get you an invitation. Thad, so there you go. And then let me go ahead and get you unmuted there. Oh, there we go. And appreciate you, Elizabeth, let's get you back here to our attendee room. There we go. Hey.



Loral Langemeier:

Thad, how are you and you're in how are you good? Where are you in Utah? We are in Provo. Oh, I love it. Park City is right up there in one of the my favorite cities. Love it. This is there actually got this jacket there. Saw island in Salt Lake recently. Love skiing. So anyway, that's all the personal stuff your working with. Laura is I own a couple of businesses and pay yourself 320 too much salary. How do I structure my companies under an umbrella? It's not an umbrella. It's a management, marketing company. It has a different tax year. And how many company like actually corporate structures and you don't and trust don't have deductions, so not in the way that we so everything's corporately structured and then held in trust so you avoid probate. So just very different the the way that our teams will be doing that. So how many corporate structures do you have right now that hold the companies you have?



Unknown:

I just have the two businesses. So



Loral Langemeier:

are they both LLCs, S corps, what are they? They're



Unknown:

two LLCs, taxes, S corp,



Loral Langemeier:

that's your problem. So you're getting taxed pieces, aren't you? Yeah, yeah, yeah. Okay. So again, we gotta re look at your that your foundation. We're gonna have to put more in there because of the amount of money you're making. Are you married kids? The whole thing, the whole thing, yep. And are any of them employed as well? So that money is coming through from your wife?



Unknown:

No, my wife is my wife's part of the business, but I don't have the kids yet.



Loral Langemeier:

Okay, so we gotta get the kids in there and drop your salary way down so I know who your tax person will be, because it's a interesting formula. And then what do you invest in? Like, do you as as you make profits in your business? Do you invest in real estate, cryptos? Are you in the stock market? Like, where do you put your like, the wealth building that capital, I



Unknown:

would like to go into real estate. My wife is a real estate agent. Okay,



Loral Langemeier:

good. Yeah. So. You know, you have all the pieces of the formula. It's just out of order, right? Yeah, and the structure is not big enough for what you're making. I mean, you're making, you know, you're in a baby, little structure making a lot of money, so you're burying the structure. The structure is not enough to hold the kind of money you're making. And then when you pay yourself that much, w2, I mean, it's what we do is like our whole corporate compliance team will and then, like, we work closely together. And then I work closely either with a bookkeeper that you know will introduce you to, or yours, if you have one, but they have to move a lot of them just, you know, they pay bills casually, and they put them in your they pay bills out of your personal name, your wife's name, the the company needs to have these deductions. The company needs. The companies have so many benefits, and a lot of tax strategists, or CPAs, mostly CPA just don't use them. So for you would go back, and I would do a three year tax return review, and I would bet we would find easy I mean, once you say we'd probably find 510, 1000 per year in deductions. Your people didn't know how to take. Yes, absolutely, I would even say more. I mean, I mean, we just came in on somebody with similar to you, came in and got about 72,000 back because their tax person. Well, they were their tax person. That's the problem. They were using Turbo Tax with your level. It's like, Oh, my God, no wonder deductions. I mean, it was like a it was like a smorgasbord of deductions that could've, Should've, would've been taken, but they didn't do it. And TurboTax doesn't give you enough buttons to push, so it kind of way outgrew. And when we came back and, like our teams, you know, swooped through it, it was like, brilliant. So no promises, we'll find but we would start with you a straight up. Well, we review corporate structure compliance, and then, yes, all that's held into a trust so you avoid Utah probate. And then we look at life insurance, IRAs, corporate credit, credit like it just keeps like, the the we just keep it unfolding, you know, the the foundation, I



Unknown:

like that. So one of the questions I have on that is, we're actually looking at buying a house right now, but in in one of my businesses, it took, obviously, a construction business, and then my other business is a high adventure business, and I'm trying to figure out with the tax stuff. What can I put in there inside of, you know, tax, you know, exceptions?



Loral Langemeier:

Well, we'll still, you aren't going to figure that out. We have teams are going to tell you what your options are. So I would buy the the real estate completely separate from those two companies. I wouldn't even have a B in those companies and and if you are going to use as an office, then you have a lease agreement. So now you have another deduction. So there's a way to tie it together, through legal contracts and documents where you're one, like the construction company could have an office if you want commercial for example, you just have to be careful. I mean, anybody in the commercial space right now. Has to be mindful that with the amount of people who are choosing to not be out in offices, you know how you play that one and getting an anchor tenant, if you go that way, I'm just a huge commercial fan, at least go for more doors and do tennis that way. And again, different company than the two you have as a whole, like a different, separate company.



Unknown:

I mean, I have a I like business, obviously, and there's many different areas that we can open up, like the property management, with my wife being a real estate agent, and me doing the construction side of things. And, I mean, the umbrella is just so big, and I it's hard for me to organize everything.



Loral Langemeier:

Funny, so it's time for a team. I mean, you've grown to a level amazing, and congrats on your but doing this by yourself right now. I mean, it's just it. There's too much available to you that other experts like we know how to help you grow and again, like I told you, know one of the other one Your job is to go make the money and continue bank accounts and let the teams with the expertise continue to hold the structure, put in the reminders, do quarterly meetings, all of that, and make sure that you stay compliant and stay on track. Cool. I liked it. When are you and Laura talking again? Tomorrow? Tomorrow afternoon?



Unknown:

Yeah, awesome.



Loral Langemeier:

Well, it was great, great to Great to meet you and congrats.



Unknown:

Thank you. Good job. I appreciate it. You're



Loral Langemeier:

you're in a an area too, with so many colleges like there's a whole play around the just college rentals and all of that. That's just and if you've if you target the real estate towards athletes at the colleges, oh my gosh, the money that you can make from the colleges to dorm athletes. I know I. Did that for five years with my son. I know the kind of money. Man, I walked into those apartments going, I wish I was the owner of all these. Yeah, they had to deal with the football team, and they the whole apartment complex was full of football. Man, wow. Imagine the cash flow was staggering. The cash flow was extraordinary. So there's a lot of strategies I'll be sharing with you as we go into this cool



Unknown:

I like it. Thank you. Thank you.



Loral Langemeier:

Alright, let's find Stephanie Miller, and you've been working with Jordan. Hi, Stephanie, how are



Unknown:

you? Hi, I am great. I'm so happy to be here. I've been binge watching you non stop. Where do you live? Young lady, Austin, Texas. Perfect.



Loral Langemeier:

Great place. And again, great state for taxes. And I don't mean that for those of you that live in states that aren't as good as taxes. We just have to get more strategic, and you got to do a little more work, because they like to tax you so much. But your question is, my LC is barely generating income, bringing in about 2k a month on top of your business expenses. I have a significant debt between credit cards, collateralized debt, and about 665,000 in investments. Well done. You're debating on selling your $600,000 home. How do I manage all of this? You get a team. That's why I'm here to help you. So that's the easy answer. Let's break some of this down. So if I'm you and you can, I mean, I don't know where you are in your home, if that's like a good sales price or not, but you know to get into cash and become a renter is not a bad position while you're in a transition. But for your business, you gotta go make some money. So that is all about marketing. Like you got to learn to market, market, market, market. So, you know, you're working with Jordan. Jordan, I would bring her in with our rapid marketing systems, because that's only 2500 for the whole year to get you up and moving. So I mean, is it that you don't know how to market or what? Why is it a generating income? Is marketing. Well, okay,



Unknown:

so I I have a w2 right now. I'm working at a school nearby for the past my I have 20 year old twins, and I've had a child in complete and total crisis for many, many years where I've been homebound, and he's been homebound. So I've been trying to. And 20 years ago, I was that passionate about entrepreneurial ventures, but I had to put my life kind of on hold. And while I'm at home, husband left, and I'm like, Okay, I gotta generate income from home. So I started learning how to create this LLC and get the business bank account and all the CRM. I got a CRM started. I got hired virtual assistant. I put on the large I've hired mentor after mentor. Part of my big debt is that I keep hiring mentors, but I did Tech. Thanks. So why is it not generating i I'm scared to put more money into it lately, because I have so much debt, and it's like, I'm not sure what to do first. Like, should I make my home is my safe haven because I have a kiddo with challenges, and



Loral Langemeier:

then keep your home because then you have that as a great asset, and we'll help you restructure your debt, reorganize your debt as best we can, as your credit shot already.



Unknown:

Well, last I checked it was over 700



Loral Langemeier:

very doable to restructure. So really it's restructuring your debt to make it easy and not like with the debt consolidators and, my God, I just met a client, two clients now, that are with that national debt relief place that they're all over the internet and all over TV. Those are like prison cells for I mean, it looks good on paper, but what it does to your life if you try to get out of it, it's unprecedented, expensive, like, you



Unknown:

know that because, because I bench watched you on YouTube, I learned that before I pulled the trigger.



Loral Langemeier:

God, because I've never, I mean, I've called them myself with the client, saying, like, like, you can't, and they do, they sign these ungodly legal contracts. And even if, like, we teach you how to make a bunch of money, and you tried to pay it off and try to get out of it, so you'd have to pay all their interest, you're locked into their interest. So it's unbelievably expensive, but nobody knows how to do the math to figure out how bad it was. So those are not what we do, and your credit is good enough. You know, Jordan, where we take her, we like so, so just level that out, so it's not so overwhelming, because where your focus has to be is on making money. And so even though you've got to have better systems, and so whoever you've been hiring for the CRM and the tech and all that will probably take all that over. And just show you a very simpler way to get all that done. And then a lot of like, what are you actually selling? What's your offer? So



Unknown:

transformational life coaching is what my certification is in. And I've hosted, like, a summit. It's kind of become my tagline called chaos to calm confidence summit where, you know, focusing toward women 40 and over, but, um. You gotta



Loral Langemeier:

get yourself out of your own young lady, yeah,



Unknown:

exactly. So I'm here,



Loral Langemeier:

so I like where you're going. I'm you've got a lot of the components, they're out of order a little bit. And you gotta get this marketing, like, underway right away so you can get more revenue. And then the marketing,



Unknown:

I wanted to share that, you know, what I've tried is, and I've heard you mention there's some program out there for eight weeks that teaches you to do a webinar. I did that program, and I worked my tail off create this webinar while I have a child in crisis, and I'm like, let's just do this. And the text just killed me. And then the eight weeks was up, and I didn't have I couldn't pay for ads. And they're like, Well, you really, you can also market it to an email list. I'm like, Well, I don't like, well, I don't have one. So then I dove into another program. I learned how to build an email list, and I put on a national international summit, and I built my list for like, 800 people, and it was exciting. And I see the momentum in it, but I gotta put more money into it to create it. And then I'm like, you



Loral Langemeier:

stop the bleeding. Yeah, stop the bleeding and get you better systems. And I'm sure you're trying to do all this by yourself as a single mom, yeah, I



Unknown:

mean, I've been on three, four virtual assistants, and they're chilling me because I'm not hiring the best. Yeah, all right,



Loral Langemeier:

so yeah, we have all those solutions for you, but making money is your 911



Unknown:

like that is my 911 and I will say that my chat.



Loral Langemeier:

That's a new feature that Steve decided to do. Kind of cute. Usually, he puts a big red, a big sign that the red B zero. That's like, we're not



Unknown:

he softened it with some music. Um, but man, I You are what I've been looking for. I have a financial advisor, but that's the park and pray method. And I know it. I have no idea. I've tried to ask him for advice, and he's like, Well, sell your house, then you can pay down your debt. And I'm like, but you don't know anything about real estate. Like, no and, and I have a kiddo. The reason I paid my house off when I got divorced is because I have a kiddo with special needs that has been homebound. Yeah,



Loral Langemeier:

you know you need, you need a stable place that is absolutely imperative. So, so I don't care, yeah, I'd keep it. Go make a bunch more money. As you make enough money, then you can, you know, eliminate the job, or transition the job, and then start investing differently. And just, can I ask you one question about the job? Yeah, but I want to just, but the debt will go away, but it's not going to go away with fast in any way that you even know or can see the closest you could probably even understand. And go to page 194 my millionaire maker start there and kind of work through that. But we have teams who will help take it, help you, like, like, acquire 0% finance. Like, we gotta get that interest out of there for a while for you to breathe and go make money. So that's the sequence. We gotta get those out. And you're the last little part of your question was,



Unknown:

you said you're w2 the w2 so I was, because I was working so hard trying to, like, find the right system to create this business so I could generate income, because I couldn't leave my house. And then I my son stabilized a little bit enough to where I'm now working at a school close to home, but it makes nothing, you know. And then I thought, well, do I know right now to stop the bleed, should I be applying for other jobs while I'm trying to focus on all this other stuff, you know what I mean? I



Loral Langemeier:

gotta see we have, that's the part of the coaching we ought to get into. Seeing that right now I wouldn't do any. I would keep the job is helping you keep your credit higher. So for now, keep it until you get in here, and then we start working together. And it might make sense. Then once you have a better plan, and you can see that the income coming to then quit. I mean, and the other way you could go is, like, you just said you could just go get a bigger, different job that pays more, but then that's less time here,



Unknown:

right? Yes. And the job I have now, I get off at like, 330 I could, like, start at seven. I could put more energy into building a business. I would just, it's been scared to spend the



Loral Langemeier:

money. Yeah, I know you are, but you have to know, like, this is the last money you're going to spend. And we're not going to, like, we wouldn't. We're not. We'll teach you how to to build an email list. We're going to teach you, like, all that's just comes with it. That's not like, an extra thing you gotta buy. I mean, the only extra stuff you have to buy around here is like, it's, I'm not buying your new companies for you. I'm not buying your trust for you. Somebody asked me the other day if I buy that. Well, I didn't know I had to pay for my life insurance policy. I said, Well, I'll pay for it if I'm the beneficiary. What if you want to qualify for a million dollar policy when you die? I get it. I'll pay like you get they so have there's some logic to the stuff you guys have to pay for. You'd have to, here's what I say, you have to pay. You have to pay for this stuff anyway. What we're doing, and I'm doing, is helping integrate and then teach you how to lead this team, and then eventually the team is yours, like, and I don't have any weird dependency with these teams, like, you can have the your the tax person we give you, you can keep them forever. Um. Or take what you learned and see if there's some like, sometimes we'll have some people find somebody like, okay, now I know what I need. Maybe I can find somebody local. It's not that big a deal. I'm just about to hire another tax guy for my cannabis who's in the East Coast. I don't they don't have to be next to me, and so that's where. But the more you know, the more confidence you'll have in bringing on team in the future, including, including your VAs. By the way, there's a lot of VAs in the big table, who are starting VAs as a business. So I would refer you inside, so we're like our own little economy. I would refer you to them because they'll do a better job. Like Amy's already in big table. She's out here tonight. Hi, Amy, fantastic. Actually, I don't think Amy is in the you need to get to the big table. I think Amy's still hanging out right out there, so you need to get yourself over here, young lady,



Unknown:

we're working on it. We're working on it. Okay, alright, great



Unknown:

to meet you. So much.



Loral Langemeier:

You jumping and helping you. Thank you. Floral Deanna, let's go one more. You're from California, where do you live in California? California,



Unknown:

yes, I'm in Muriel, right down the street from Sandy.



Loral Langemeier:

Okay, so the San Diego area, yes. Okay, and your question is, are properties and personal trust we are moving out of state? What's the best way to leverage this property and possibly avoid capital gains? The potential capital gains is about 800,000 I would defer that to our tax team number one, and then our trust team, because, like, our strategy, isn't it to go straight to a trust ours, put the put the property. So if you are going to sell it, does this have been your personal residence? Yes. I mean, you're married. Yes, you can. So you can move 500 of that, depending on what you know. The history of the tax returns show, but you can move 500 to the next property, wherever you're moving to, right, right. To reduce that tax if you didn't sell it like right away, but I think you still got to have a 12 month look back period. If you put it in LLC and created a rental, you could 1031 the whole thing, but I think it's a 12 or 18 months I gotta look at, you would have to look at the State of California's law on how long it has to be, you know, considered a rental. So you can 1031 versus do what you're doing as a primary residence to primary right? So, but do you have any companies other than this trust? So we



Unknown:

have an S corporation that we've had for several years do? Um, so it doesn't do anything right now. Um, yeah, that's what we're trying to get and get into the real estate game over in Boise area, just



Loral Langemeier:

so you missed the run, the big, big run, but it's still a great run. It's an amazing market. We have a lot of lot of big table members there, because I did a lot of business there during COVID. Okay? And then if you are going to stay out, our trust team, just like they did. I lived in California and started my trust when I was in California. They, they will redomicile it into the state that you, you know, live in, because you want to, you want it to go with you. You don't want to leave that trust in California, for God's sakes, until your, your state gets some new administration and new laws, won't leave anything behind over there. So you, you, they'll just, they'll just fix the trust, but we will put a company in between, because companies get deductions trust, don't. You don't get like, I mean, from a homestead standpoint, it was probably an okay thing to do, but the fact you have an S corp, we need to be using that and but that's not like you can do like my S corps for my property management companies. But you really don't put an investment come you know, typically, I know Boise well, you would use a Boise LLC. I mean, I have a great tax team up there, entity team, a Boise team, because I just exited there about two years ago. And lot of big table people and Sandy, you know, who they are. We did tours through Boise. We took our big table on big table tours. And we had the big table in Boise downtown, and then we would go out, you know, and show them how what we were doing, how we built from ground up, how we built apartment complex was, how we built custom homes, how we built everything, just to show people how things really get done in an efficient way. And again, all that just comes with the big table. We'll probably least one or two real estate tours coming into the summer, just because to see what Justin's doing in Kansas, in the Missouri market. And we have some amazing new folks coming into the from the Ohio market, Carolinas. I still think there's that's just going to be an amazing gold mine as they clear the debris out of there, right? Yeah, it's going to be fun. So when are you and Sandy talking again?



Unknown:

We're talking on Friday. Okay, awesome, awesome.



Loral Langemeier:

Yes. Alright, so we're at the top of the hour. Steve, why don't we? If Audrey. Here. Let's go ahead and bring her live. Let's do that with that really quick. Or I can just answer the question,



Unknown:

what's your vote? Answer the question I didn't see Audrey jump in. Let me just check one more time, yep. Unless she's under a different name, which I don't see, let's go ahead and answer her question. And then we do have a few in the Q and A but I know just based off time, there's quite a bit in the chat as well. So I would say, let's answer Audrey's question. And if you have a few moments to speak to some of the Q and A and chat, then we can do that as well. I sure



Loral Langemeier:

will. And just notice our time stamp for those of you like if Laura, if you want this sent to Audrey so she can hear the answers right at five o'clock on the time stamp for this, because this has all been recorded. You can all have this back if you need to talk to your partner or whatever you need to do to make this decision. So Audrey is from Georgia. Love Georgia. You're a sole proprietor. That's totally crazy. We will get you out of that sole proprietor space immediately. You make about $30,000 your husband has an LLC that makes about $70,000 you want to increase your increase your income while leaving a better structure for your children. What are we missing you while learning to make more money, getting yourself out of the sole proprietor. And then again, just building like, right now you probably don't need to, like, you need to get out of sole proprietor. So getting a company event like, you're going to need a Georgia trust because you want to avoid probate, and then again, life insurance, IRAs like then you just stack the foundation, gets rebuilt corporate credit. So if you want and you use the corporate credit to actually use that to buy real estate, or your IRAs to buy real estate, you're just missing more structure and foundation. And then I would just say overall. Then let's look at your marketing. Let's grow these companies into well into six figures, instead of 30 and 70, I would let's go for income, and then all that other money is invested into new assets. So that's Audrey's question, and Elizabeth has several in here. Doesn't make sense to convert some of my long term rental LLCs into a non No, absolutely. Whoever told you that crazy crap, it's not even the same thing. I mean, it's not even, No, you stay profit. Always stay profit. I mean, there's a way to use the nonprofit but again, foundations are better than 5013, C's, and you're not paying so again, you're looking in the wrong direction to pay less property tax in Texas. Yeah, that's going to be a tax team question on where you go with that, because I know your property taxes are a little high because they get you there, since they don't get it in the state level. But there's other ways between corporations working together in in tandem, like management companies that oversee there's a way to offset deductions. I mean, some of that is just going to be the property tax. So let's let our tax team take that one. I would never go take my property into that status. I mean, maybe I don't know that. What you're exactly talking about there, Elizabeth, but that's like, but that wouldn't be a direction. I've seen any of our tax people ever take anybody. And then you had another question, reasonable, reasonable compensation. How do you calculate this? It's going other. It's going away with Trump, and now in office, is it mandatory to calculate and implement currently pay myself very low income. In my real estate business, I pay myself a very low income too. It's your S corps that you have to be concerned about. And so again, that is not a question for you and I, that is our lead tax strategist, who have licenses to do true calculations. Can I take a guess at it? Yeah, but it's not like again, I want you guys start relying on experts and stop thinking you're going to be an expert. Of somebody who became a tax strategist, spent six years of their life getting an MBA in accounting, became a CPA after for my son, is becoming one four licenses later, and then putting, you know, other Certified Management Accountant licenses on top. These are very, very highly qualified. I think people shy away from them because they think they can't afford them. I would say, you pay it in tax, or you pay an expert. So I would use the experts that I've assembled, and, like I said, February 12. I mean, we've already assembled them, but we're coming together for a training because I want that, because tax is such a big piece of what we are teaching you and talking about I want, I want an army. I want a stable of people that are trained in what I call forecasting, not budgeting. Nobody's ever going to budget you in my world, I don't want to use that word into how you pay yourself. I can tell you a different formula. How you pay yourself when you're trying to quit your job is, you don't have to replace your income. You replace. The formula for that is, you replace half of what you take home. So if you took home, say, 6000 in cash in your bank account ached every two weeks, 3000 into your account. You only have to replace three. Right to who was the first woman to Stephanie Miller's question, does she quit her job? Yet? So it's not going to be hard to replace that income. So let's go focus on where the real money could be, and then quit her job later, but keep her job now, because we need it for the credit to help prepare her debt. So, I mean, there's a lot of pieces to each of this, that layer. So a lot of times we'll, you know, we'll get a question like this, as you know, Steve, and it's singular in thinking, but you got to know there's tentacles above it and below it by that decision. And if you make the decision wrong, you're going to have all sorts of pros and or cons to that decision. So we don't I let the experts roll, and I bring you in, and I navigate you to them. And a lot of times I'm on those calls like I would be on these calls, because I want to hear how what they're going to say to you, because I want to know it. Oh, that's easy, Elizabeth, to get to that net. That's not hard. That's just more growth, more investments. Yeah, all right, Steve, anything else is here that I should be answering? I think we're good for the days great, great call team and great people as usual. Look forward to working with those of you, and if you have any questions, your next step is to meet with your strategist. They know how to reach me. They'll text me. I'll leave audio files for them and make sure they get back to you. And you can get a decision. April 20, 29th is pivotal. It's not only coming into a tax year that really doesn't need to apply to you because our teams will do extensions, because your companies file in September, you file in October. So you're going to be living a new what I call wealth builder calendar that lot of people are just unaware of what they need to do and when they need to do it. Okay, Steve, I'll let you wrap it up with the text line and how to continue the whole group here asking more questions.



Unknown:

Absolutely. I just dropped in the text line into the chat. That's 24, 775-243-3961, if we didn't get a chance to get to your question tonight, go ahead and text that line. We look at all those questions, and based off of how Laurel would respond, we'll give you a little bit of a of an answer there. If we are not able to get that to you directly, we definitely put that in front of Laura and say, Hey, how would you respond to this question? So you're getting the help that you need by texting that line. Also, if you just need to connect with it, with the team, with your strategist, you can also call or text the office line directly, which is 775, 588, 9200, Terry will monitor those and send those off to the correct strategist to work with. You. Appreciate everybody being here tonight. Also appreciate the strategist being here as well. I appreciate you as well. LAUREL always being amazing and answering all these questions. And again, those of you that are here that simply attended tonight and you wanted to get a feel for what ask Laurel is, and you want to rejoin with a one on one slot. Please go ahead and just connect with your strategist, and we can get back you in the schedule for that being said, appreciate everybody being here tonight. Remember, if you can ask a question about money, you can't start a conversation about money. And that is why ask Laura is so important, because the more that you actually expose yourself to these questions and how you can start living this lifestyle, the overall that'll get you closer to your result.



Loral Langemeier:

Thank you, and get back to your strategist right away, and look forward to working with you. Have a great night. Take care.



Unknown:

Fauci for you, I tried and I lied to myself, gave up, and then I blame someone else for not chasing my dreams or facing my fears of failing all by myself. I struggled with how to create wealth, and I feared what was in my bank account, until I stepped up and joined Laurel's community, and now I found the light in me that was flickering and slowly fading, but now I have a millionaire Pat to financially become free at last, because I come out from underneath. Take a good look at me, because I'm living my dream, and now I can see all I've achieved once I sat at the big table to be a teammate, millionaire.