All Forum Posts by: Matthew Crane

I'm a new investor (have a separate W2 job), looking to build storage in near future. Every day/night I've been driving around looking for land, talking to brokers on phone, using my computer to find potential properties, etc etc. Can these be tax write offs (home office, phone, car expenses, etc) even though I won't technically be making money for some time until everything is completely built and leased? Also, Ive bought office supplies, went out to eat with contractors, and more, should I be using a business credit card? I do want to separate my business and home expenses, but even if I had a business CC, I'd still have to pay it off with my personal money because its going to be awhile before I'm making income. How do I get started appropriately? Thanks so much! 

@Julio Gonzalez Thank you! I live in Western NY, so I'm not sure if the CPA would have to be local to me? Please provide me with some recommendations when you're able.

I'll make it quick. My W2 income is >$550k/year, if I build an RV/Boat storage facility, will my storage business expenses/losses be able to reduce my W2 taxable income? Or do I have to have REPs status for this side business to affect my W2 income in any way? Also, with a new build (assuming REPs), would I be able to do a cost segregation and use advanced depreciation? Thank you all

Always knew he was a fraud.   

https://www.leadertelegram.com...

I tried to give the guy the benefit of the doubt and watched a recent interview (3 months ago). The interviewer repeatedly calls him an anesthesiologist, and even directly asks him "What is it like to be an anesthesiologist?"...Instead of just saying the most obvious honest answer, "I'm not actually an anesthesiologist," he continues to deceive and lie about his credentials and qualifications. Over 30 interviews I've watched and not once has he ever corrected someone and admitted he is not a physician/anesthesiologist. The guy meets the definition of fraud to me; "a person or thing intended to deceive others, typically by unjustifiably claiming or being credited with accomplishments or qualities." I couldn't make it past the 7 min mark of the video because of this. I really wanted to like this guy and support his accomplishments, but now I question everything. 

 I could not agree more with you. I've watched every one of his interviews and he lets most everyone think he's an anesthesiologist (MD/DO physician). On all his linkedin/website etc he says "Doctorate of Anesthesia", which doesn't exist. He conveniently leaves out Doctorate of NURSE anesthesia. This is no such degree of Doctorate of anesthesia. He also clamis to be a nurse ANESTHESIOLOGIST, which again, doesn't exist. Nurse anesthetists (CNRAs) just randomly started calling themselves anesthesiologists to confuse public and inflate their image. I have no respect for someone who misrepresents themselves professionally like that to inflate their degree/ego. If he lies about that, how can I believe him with anything else. BTW, this may not matter to most all people, but to a physician and anesthesiologist who spent SO much more money, time and training gets offended when someone lies about creditionals for personal gain. I also love how his website says, and I quote, "Matt was one of the best-trained anesthesia professionals in the world." I mean wtf, the guy wasn't even a physician. 

Is there anyway people can add what their current portfolio size is to help reference what size portfolio can offer as far as freedom? Thanks

Hello all, I'll get right to the point with my questions:

1. When investors purchase a NNN lease and the loan has a large balloon payment in 10-20 years, where do people come up with such a large payment to payoff the remainder of the loan? Is this typical? Is it more typical to find loans without a large tail end balloon payment?

2. If I buy a NNN deal in a LLC and have a recourse loan, if things go south and the property goes dark and I'm not able to personally pay the expenses out of pocket, does/can the bank come after my personal assets (home, retirement, etc etc) or is it just limited to whatever is in the LLC? (I'm trying to protect my family and our personal assets)

3. I'm slow, but I need help understanding this one. Investors seem displeased with low CoC, low IRR, low CAP on NNN with long term leases (15-20years). If you are using leveraged debt (ex. my down payment is $1 million on a $5 million NNN with a 20 year lease), won't that 5 million dollar property be paid off in 20 years? So what if my yearly CoC is low, the tenant is paying off a $4million in equity to my $1 million). People on the board say NNN is for retirement people to "park" their money safely with low returns. But from my example above, if you invest $1 million and have a paid off $5 million property in 20 years, those seem like amazing gains to me. So, obviously I'm missing something here. Would love a simple explanation for my small brain.

If you made it this far, a big THANK YOU for reading! 

Great post, question for you though. Say for example I do a cost seg on a large property, and I using accelerated depreciation and I have $500,000 depreciation. Then say I have REPS, and my yearly salary is lower like $200,000. I can deduct $200,000 to wipe out my W2 salary taxes, but what happens with the other UNUSED $300,000 depreciation. Am I able to use this the following year or is it wasted? Thank you