October AMA (Ask Me Anything) with Agent + Investor Scott Johnson Recording | Community

October AMA (Ask Me Anything) with Agent + Investor Scott Johnson Recording

  • 21 October 2022
  • 4 replies
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beth
Userlevel 7
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  • beth
  • Community Manager
  • 463 replies

Hey Carrot Fam!

We had a great AMA (ask me anything with agent + investor @sdjohnso in NC. 

We had a great discussion about the must have foundation that high school never gave you including some Q&A sent in by @PhilGreely .

 

Here’s the recording:

 

Timestamps

1:48 Intro + Provide More Solutions & capitalize

7:19 Am I doing creative financing?

8:47 Tools of the trade that are available

10:25 Realtor Property Resource

14:01 Why use MLS?

15:26 How to judge your competition (beyond just comps)

17:25 The IRS Is Your Friend 

18:18 Read tax publications (p527, p535, p544, p551)

18:25 This is sh*t that should be taught in high school

24:12 Example: How to find the depreciable basis of a property (Will require screen share)

30:18 How I found my mentors

32:21 Don’t Fight the Law + Understand How All Investing Techniques Work In Your State LEGALLY

36:34 Call the Real Estate Commission & Ask Questions

37:18 Where are the bulk of your leads coming from? As a hybrid, how do you approach these leads? Investor first then pivot to retail? Or other way around? Plus more tips.

59:25 “Gentlemen, this is a football"

 

Helpful resources:

Realtor Property Resource

 

4 replies

beth
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@sdjohnso One question I didn’t ask you is how you find the IRS bulletins you need to read. When I went to the IRS site, I just saw the bulletins and downloads listed by number.

PhilGreely
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Can’t wait to watch soon! PG

sdjohnso
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@sdjohnso One question I didn’t ask you is how you find the IRS bulletins you need to read. When I went to the IRS site, I just saw the bulletins and downloads listed by number.

Sorry for the late response!

IRS Ordering Page » Search the publications I mentioned to get started » Other publications and instructions that are helpful are noted in these publications

You can also just go to the IRS Home Page and search for the publications in the search bar for the PDFs, but when they send you publications and forms they come in well reinforced manila envelopes you can use to organize other things 😜… Sweet Lord, I’m a cheapass...

It’s kinda like a rabbit hole that you have to dive into, but it’s totally worth it! Studying the instructions for forms 4797, 8949 & the 1065 Schedule D so I can understand Depreciation Recapture. This is a critical, because not many people know that you may own taxes on the depreciation you did take and could have taken!

Get educated, Carrot fam! These aren’t loopholes, they're the way the IRS wants you to operate and they give you some solid incentives for operating in that capacity!

Hope this helps!

Scott Johnson | Broker | Digital Marketer
beth
Userlevel 7
Badge +5

@sdjohnso Thanks for this! I was definitely looking in the wrong place.

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