Join host David Dodge in this episode of the Discount Property Investor podcast as he welcomes Aaron Eller, a successful real estate investor and one of his students, to discuss Aaron's journey in the real estate market. Aaron shares his recent achievements, including closing a deal that earned him nearly $30,000. Born and raised in St. Louis, Missouri, Aaron recounts his transition from a typical middle-class upbringing to entrepreneurship, emphasizing the importance of taking risks and seeking guidance from mentors like David. Tune in to learn about Aaron's latest deal, negotiation strategies, and insights into the world of real estate investment.

Show Notes:

• Aaron Born and raised in St. Louis, Missouri, Aaron shares his journey from a typical middle-class upbringing to exploring entrepreneurship. Dissatisfied with the corporate world after interning in finance, Aaron sought a more fulfilling path. Aaron explains his transition to real estate wholesaling after realizing the limitations of traditional investment routes like buying rentals.
• Real Estate Success at a Young Age Aaron has already closed around 10-11 deals, making significant profits. He discusses his latest deal, a distressed property he found through outreach, and the negotiation process.
• Aaron shares insights into negotiating directly with sellers, understanding their motivations, and securing profitable deals. He discusses a deal where he negotiated remotely, emphasizing the importance of effective communication.
• Lessons Learned and Advice for Aspiring Investors. Aaron and David discuss the simplicity of the real estate business and the necessity of hard work and persistence. Aaron emphasizes the importance of taking action, seeking mentorship, and learning from experiences.

Highlights

• Aaron Eller, a 21-year-old real estate enthusiast, shares his journey from working as a server at Olive Garden to closing profitable real estate deals.
• Aaron emphasizes the significance of taking risks and seeking guidance from mentors like David Dodge.
• Learn about Aaron's latest deal, where he earned nearly $30,000 through wholesaling a distressed property.
• Discover negotiation strategies and insights into real estate investment from Aaron's successful deals.
• Gain valuable advice for aspiring investors, including the importance of taking action and learning from experiences.

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Welcome to Discount Property Investor Podcast, where we delve into the world of real estate investing and the crucial aspect of taxes. In today's episode, Dave and Mike dive into the world of tax strategies for real estate investors. They explore the Augusta rule, which allows tax-free rental income for personal residences, and discuss the benefits of depreciation for reducing taxable income. The duo also delve into the advantages of having an LLC, the differences between 1099 and W-2 income, and the importance of properly reporting contractor expenses using W-9s and 1099s. Join Dave and Mike as they share their insights on minimizing tax liability and maximizing the benefits of real estate investing.

Episode Highlights:

• The Importance of Tax Knowledge for Real Estate Investors

• 1099 Forms and W9s

• Learning the Rules of the Tax Game

• Maximizing Tax Efficiency

As real estate investors, mastering the tax game is essential for financial success. From issuing 1099 forms to understanding deductions, every aspect of tax compliance plays a vital role in preserving investment returns. By staying informed and seeking expert advice, investors can navigate the complexities of the tax landscape and ensure their financial well-being

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Adrian Smude got his start in real estate in 2002 when he was evicted which led him to become a landlord. After 11 years of being a hobby landlord, he discovered his passion for real estate investing by attending a real estate investor meeting. He tapped into the untapped gold-mine of mobile homes and has been following that path ever since. He is a member of three mastermind groups, including a high-level mastermind which he hosts. He is the author of the bestselling book How to Buy Mobile Homes and he travels the country teaching and sharing his secrets for success.

Connect with Adrian:

Personal Facebook: https://www.facebook.com/adrian.smude

Lifestyle REI Facebook: https://www.facebook.com/LifestyleREI

Instagram: https://www.instagram.com/lifestyle_rei

Linkedin: https://www.linkedin.com/in/adriansmude/