Should I Put Money in Real Estate?

We're live. Hello everybody. Don't go anywhere for just a moment. If this is coming up in your feed, whether it's on YouTube or Facebook or Instagram. My name is Mark Kohler, CPA attorney, helping small business owners for the last 20 years around the country, Main Street, America, trying to help them build wealth, protect it, save taxes, yada yada. Hopefully many of you that have subscribed and follow me, you know who I am. And Every Thursday at 4:00, clock I go live. We do an open forum talking about questions you have in your small business investing wealth. I've got a special guest here with me, I'll introduce in a moment. His name's Darren. Hey, hey guys, you heard him, he's really here.

I'm here. It's true.

He's going to come on board when we hit the Open Forum. Oh, there's a. Okay, there you are, you're on camera.

There we go.

Okay, he's really there. So we'll bring Darren in here in a minute. He's an attorney in our office and very insightful, very smart. He's an engineer, so he's pretty anal about things and really good detailed responses. Now every week what I like to do first is talk about a topic. I think of it like I go, you know, late night show, this is the opening, you know, stand up if you will. I want to make a couple statements on some topics that I think all of you need to hear a little bit and try to give you some advice or direction. And then the time's yours. We're just going to open it up for open forum. Please type your questions in down below if you find this helpful at all. Maybe there's a section of the video that's great. Remember, look at the timestamp and then forward it to a friend, a business partner or a family member and just say, hey, listen to the time stop. I mean the portion of this video when Mark talked about this or Darren made a comment about that. We want to be there to help you out, maybe give away, we'll give away some books, maybe, blah, blah, blah. I've got some workshops coming up this fall, four of them around the country and then a live virtual. We got a directed IRA self directing retirement account summit in Phoenix. Lots of good stuff coming up this fall. It's nice to have the country semi open, right? Kind of feels good. So I'm excited to get to some workshops. I'll tell you locations, maybe even do a little discount just for today, for a couple hours of those that want to go, can we do a discount jack that, this, this little thing for two hours?

Yes.

Okay. You'll make that happen? I'll announce that later. Okay, so here's the topic I want to just cover for a moment. And that is, should I invest in real estate? Should I put money in real estate right now in this economy, you know, it's kind of a seller's market nationwide as a whole. Values of homes are up everywhere. There's little towns and big towns everywhere. There's no inventory. So it's a fair question. Now you may say, well, hold up, Mark. You're not big time real estate educator. You're not, you know, on some national panel studying real estate, you know, markets every day around the country and little things like that. I agree. But in our law firm, 12 attorneys, accounting firm, 15 CPAs, our staff directed IRA and everything we're doing there. We talk to a lot of people on the street every day, helping advise them on their, what they're doing and their plans. Well, we see patterns. We kind of get the inside scoop on markets around the country and deals they're doing. Are people still investing in real estate? Yes, they are. As much as they were five, ten years ago? No. You know, there's periods that fluctuate, so. But what I want to offer you as your accountant, attorney, helping you with your finances from a business advisor coach, I just want to tell you what we're seeing with our clients from around the country. And we're grateful to say we've got a lot and we're busy. And I know some of you may get frustrated calling our office, going, hey, I need an appointment. And say what, two weeks, what the hell, you know, so if it's ever, ever urgent, life threatening, you tell the staff. But. And if you don't get through on your first call, be patient. We're trying. And, and we're growing, so. But we're here for you. So today I wanted to talk about this real estate topic for just a moment, maybe five minutes, 10 minutes. And then you got questions on how to write off your kids, how to write off your auto, how many LLCs do I need for this real estate deal? Or should I have an S corp? Should I buy crypto? Am I going to pay tax on the sale of this asset or any of those topics? If it's tax or legal freaking, I better have the answer or I'll know where to get it. So here's the answer. Should I invest in real estate? Yes, absolutely. I want you investing in real Estate. The question is, when is it? Next week, next month, next year? I don't know. We're going to talk about that. Where do I invest in real estate? How do I do it? And that could include analyzing the deal to the legal structure and with what? Should I use my own money? Someone else's money? My IRA's money? This could be a three day workshop, couldn't it? In fact, there's experts on all these little things. So be patient with me as I just try to comment on some of these. And if some of you have a question on these specific topics rather than a tax or legal question, I would love to hear it. We're going to do our best to help field your questions. All right. When going to say several things, you should always be keeping your eyes open for a deal. When should you buy? When you see a deal, when it makes sense, when you see an opportunity. I don't know if there's ever a perfect period in time. Are there deals out there right now in America in certain locations and locales with certain types of real estate? Sure there are. You're like, well, freaking. They're hard to find. I get it. But I don't, I don't think it's healthy to just say, well, it's a buyer's, I mean, it's a seller's market. I'm just gonna, I'm not gonna even think about real estate. I'm gonna wait till the real estate adjusts. Well, in general, that's a fair point. You might be stockpiling some cash, but it doesn't mean you stop looking. I even had some family members. In the last four months, I've talked about Jack and Allie and their little fixer upper rehab that they turned a single family home into a three plex. And they're cash flowing it and it's going to probably increase in equity a third on top of what they paid for it. They bought it four months ago. Three months ago. There's deals out there. You got to keep your eyes open. There's opportunities. I met with some clients last night out in Tennessee. They got a va. He's a veteran, just got out of the military. He can tap into a VA loan. They're still looking. They might find a deal. So I want to say when is. You're always looking. I'm just going to say that don't ever turn off your vision or shut down looking for real estate deals when an opportunity arises. Now let me give a thought here that I think permeates when and where as well. 2 comments. One, I have clients that are going, my kid's going off to college this fall. My daughter Molly, my paper shredder administrator. That many of you for 10, 15 years have seen little pictures of her shredding paper and getting paid and building her little Roth ira. Ah, she's in my book. I love talking about Molly. In fact, gosh, I got a ting of emotion this weekend. I'm going to go down to Salt Lake City where she's going to college and spend an afternoon with her. But it's hard seeing your kids go off to college. Gosh, I got emotional, didn't I? It's the rock star, by the way. Only 10 calories, no sugar, no carbonation. We love you, Rockstar.

I haven't had one yet today and I'm getting emotional.

You're getting emotional about that? Okay, yeah. What do I do with my hands? I don't know, Ricky Bobby. Okay, now if your kids are going off to college instead of paying rent out the butt for them to live in a dorm in a frat, in a sorority, maybe in a little rental home, maybe you buy a home for them to rent from you. Now you say, well, it's a seller's market. Hey, you still might be able to find a deal. Your kids can work on it. Maybe it's trashy. Maybe they don't get to move into it for a semester because you're working on it together getting it rent ready. I had a client thinking, speaking of Salt Lake, I give a shout out to Brian. This was last year. He bought a home in the Salt Lake area and he rented four rooms in it to girls. And his daughter's there in the master bedroom and she's the landlord. Does it cash flow? Yes. Because he rented out rooms. Is that better than paying rent to someone else? Absolutely. So when it comes to when and where, you don't have to have a kick butt, awesome real estate market to say, my kids going off to college, maybe I should buy a rental there. Number two, this has been a conversation I've had with some clients that has been difficult in the last month. Where their parents are now, maybe looking at Medicaid, they might be going into assisted living. And so they're saying, well, should I buy the house for mom and dad and rent it back to them so they can qualify for Medicaid? Are you going to get a better deal when it's mom and dad selling it to you? Yeah. Does the real estate market really have a factor in that? Maybe, maybe not. You may Be inheriting the house anyway. But let's buy it. Cash in on mom and dad's sale of home exemption. They pay zero tax now, they rent from you and they can go qualify for Medicaid after a certain time period. All the state rules are different on that. But see, when you have parents that are starting to get to that age where you need to take care of them, maybe it's time to buy a rental for them or buy their home from them and rent to them so they can get different assistance. Right. See these are the creators and I want to say thank you and applaud you for being here for this little live broadcast. Because if you're not learning this on a broadcast like this, where are you learning it? You don't learn this in college. You don't learn this down at the bank at the monthly seminar where you get a toaster for opening an account. Where do you learn this stuff? I am so proud of you for being here. So if that if you feeling it, please subscribe. You'll get a little ping every time. I go live every Thursday at 4, whether on YouTube or Facebook and hopefully I'm here helping you. And it's a business. But I give away so much info, I really do. We've got a great podcast and vids on YouTube and yada yada. Okay, third idea. Who's the best renter you're ever gonna have? It's you. I am building a little shop across town. Have you been over there yet? Darren, you got to come see it. It's a little.

I haven't yet.

It's a steel building, 3,600 square feet. I'm moving this studio across town four blocks from here to a steel building. So I don't pay rent to the city anymore. I also have three storage units with crap in them. I'm not going to rent anymore. And I have a place I was paying for an rv. I'm not going to pay there. I think I have a fourth storage unit I'm going to be able to move some crap from. So all these places I'm paying rent to other people. I was able to take a duplex rental property I have carve out the back lot, put a steel building on it and move my studio and all my storage units there. I just saved all this rent I was paying somewhere else. So some of you buying your own commercial building could be a perfect time for you to save rent to someone else and build your own operation. Pretty cool. Alright, so when it talk, when we talk about when and where these three strategies. Just those three. I mean, like I said, we could be here freaking all day. Just these three strategies. Hopefully some of you are like, huh, man, Mark sure thinks out of the box. Yeah, maybe. But you know where I get these ideas? From you, from your fellow followers, from your fellow watchers. Sometimes I'm the biggest benefactor of you calling our office because I hear your ideas and I go, oh my gosh, I've got to share that with everybody. Okay, now how. All right, well, this is kind of fun. How are you going to do it? Well, let's just talk business structure for a minute. Let's go to the trifecta. My favorite. So here's your trust. This is your revocable living trust. Someone called the other day and said, should I have some other trust? Should I have a charitable trust and your insurance trust and this trust. Everybody start here first. This is your revocable living trust. We're going to use it for privacy. I don't want your name in it. It's going to be the foundation where your personal bank account is down here and your 1040 tax return. I like to see it as water flows downhill. So all your money, all your assets flow downhill into your revocable living trust. No annual fee. You don't have to file it with the state. We charge 1,500 bucks. It's done. Boom. We build a diagram for you in the process. I got 12 attorneys you can meet with, get this thing done. So that's step one. And then we divide your life in half. Now for those of you that have seen my trifecta, you're like, where are you going with this, Mark? Why are you bringing this up? Well, when we start to talk about real estate, I want to be able to put it in context. Last night I was with these clients from Tennessee, I was saying, and we build a little diagram for them and a checklist of all the things they need to be doing over the next two to three years. They were like on fire. Felt so happy. It was like a fun consult. I don't deal with freaking lawsuits or divorce or bankruptcy or DUIs or criminal law. I help you guys make freaking money. I love it. I love my job. So we diagram this out and what I wanted to do is I wanted to see in a couple. Now, some of you are single, but as you get married, one of you might have a W2, alright? One of you might have a side hustle. We knock that out with a little llc. Now for you full time entrepreneurs, and this is What I have, I have an S Corporation, that's my parent company. I only have one S corp in my life, but it owns all these other businesses that I might have an interest in. And then I get a W2 from my own S corp and all the profit flows down into my 1040 and trust. For those of you that have a side hustle, it may flow down through a schedule E. I mean sorry, schedule C as in Charlie. All right, your W2 is floating down. Now over here is your asset side and this is where we put your real estate. But guess what? I'm going to put real estate in two spots. I want you first to have an llc. You transfer the rental property to it after you close. Don't worry about the bank and do on sale clause not going to be a problem. We have a way around that. So you're going to transfer any rental property into an llc. And do you own the llc? No, you don't. Your trust does. Your trust will also own your home. Now that's another topic that we could get into today. Should I buy real estate? Well, one of the concern, you know, one of the considerations, some of you should not buy a personal residence. When I was living in Southern California, it was better for me to, to buy rental properties that created cash flow and rent my own home. I got a better deal. Sometimes buying your own residence is not the best move, depending on where you live. But if we can, we want to buy our personal residence. And I love Dave Ramsey, he's going to say let's pay down that mortgage as quick as we can. And I'm good with that. Now if I buy a rental, this rental is going to be owned by an LLC that's owned by my trust. This is your first main area. We're going to buy rental real estate. Now could this be a college rental for your kids? Could it be your parents home that you, they rent back from you? Could it be a commercial building that you rent to one of your operations over here? Absolutely. But we're going to put it in an LLC so we get protection. Some people go, well, how many LLCs do I need? Nah daddy, that's a whole other topic. We may go there today. I don't know. I'm going to, we're going to open up for questions here in two more minutes. The other place I want you buying real estate is in your IRAs, your 401ks, in your Roths. And you can pool money from all of your different retirement accounts if you need to or want. And I'M going to race that here. So this looks a little prettier. We can create an LLC with all this different money. Buy rentals here. So you can have rentals in two buckets. This bucket, I'll put it in red. This bucket is for your pre tax or tax free money, Roths, IRAs. And you can buy real estate with that. We've been teaching that for 20 years. Over here is your personal real estate that you're investing in. That is rental income property. Then down here is your real estate for personal use. It could be a second home, a farm, raw land, a cabin. Now up here it could be an Airbnb. You might find that buying a rental property that I can use once in a while is a good deal. Love the Airbnb strategy. So we've got all this different real estate over here that we might be involved in. This real estate is owned by your retirement accounts. This real estate is your personal real estate that you're not rent creating rental income with. So my friends, as we get into how and what the how is this kind of structuring, But I want to throw out one last bonus if any of you want it. I've been doing it for a couple years now. I have two or three little spreadsheets and a little video of how to analyze a rental property. And I know there's some great groups out there that have some great podcasts and YouTube channels and they produce great stuff to help you analyze real estate. But I got some my own methods too, and the more resources you have, the better. So if you want to email me and it's free, just email markj. Kohler.com I could give you the law firm or accounting firm email. They all go to the same spot. But, but if you email mark@markj.kohler and just put real estate in the subject line, it'd be a little easier. If you put real estate spreadsheet, I'll send you a couple spreadsheets on how to analyze residential rentals. Easy advanced, a commercial rental spreadsheet. I'll give you a couple little videos. Give you. And this is free. And my assistant Whitney, she's wonderful. Say thanks to Whitney when she sees these. She kind of takes care of it for me. If there's a question or I need to deal with it, she'll say that's an email for you. But this is one. If you just type real estate spreadsheet in the subject line, we're going to send you some good info. And so in this how, how do I Analyze a rental property or how do I structure it? Those are some real strategies I want to give to you. All right, so analyzer structure. Always be looking, be creative on where and when you buy. Always keep your eyes open and what you buy or with what money you use. You may have be using retirement accounts, you may be partnering with others, you may be using banks, VA loans, any of those things. So that's, that's my presentation for today. So I'm hoping some of that was helpful. If some of you want a little extra help, send that over in an email. God bless you. Hang in there. Don't give up. Republicans suck. Democrats suck. They all suck. Trump did dumb things. Biden's doing dumb things. It's okay. Keep your emotions down. My job is to take whatever law is passed and help you. And right now Congress, as you know, and Biden is trying to pass an infrastructure bill. If there's anything that's in there that's going to help you tax and legal wise, I'm going to share it on our broadcast next week. So. All right, well, we're now into our questions. And again, by the way, Please subscribe on YouTube or Facebook. Oh, and I want to give you the workshops. I won't give you the dates, but if you go to markjkohler.com we're doing Chicago, I think is October 2nd. Then I'm off. No. Or is that Dallas? That's Dallas. Freaking out. I'm gonna get in trouble if I don't look. So here's my handy dandy Mark Kohler calendar that'll go on sale for all of you if you want this year's version in December. Yeah, it's Dallas. Dallas is October 2nd and then I turn around the next week and Chicago is October 8th and 9th. And these workshops, couple hundred bucks for a day. This is not like $4,000. Mastermind. Whatever. And you get the inside scoop and all this crap. No, it's a full day with me basic and a second day advanced. Dallas. I'm combining it into one but tax write off. It's a wonderful workshop to network. I cap it. It's going to sell out. I've been doing them for 10 years. This will be the 11th year. Then we go to Dallas on the

2nd, Chicago on the 8th and 9th. Orange County. Oh, see the Orange county, that's November 5th and 6th.

November 5th and 6th. Thank you, Darren.

Out in Oahu.

Yeah. Then I go to Honolulu, Hawaii. I do it for you. And I, of course I don't want to go. It's miserable over there.

There's so many clients in Hawaii.

I'm joking. This is a great tax write off. Come to Hawaii, and that will be on November 19 and 20. Okay? So Honolulu, Honolulu. Boy, I'm struggling today. November 19th and 20th. That's the week before Thanksgiving. Bring your family over, have your board meeting, take a tax write off.

Love it when you have the youth workshops around that time, too.

Yeah, I'm doing some youth workshops. We're doing the summit in October in Phoenix. There's so much. And then my live virtual is December 3rd and 4th. So December 3rd and 4th will be right here in the studio. Ooh, it'll probably be in the new studio, huh, Corey? Third and fourth, the virtual. Anyway, if some of you would like to go, I know it'll be a huge value. I've told people if I'm not. If I haven't wowed you by lunch, I'll give your money back. You can leave. I mean it. It has money back, guaranteed. If I have not wowed you by lunch, you can leave. You know, I had one client in the last 10 years that did it. It was in Sacramento. I remember it vividly. And he wanted me to get more into the technical stuff. He and his wife wanted me to get more into the technical stuff faster. And he didn't like my jokes. He's like, just go to it. And he just wanted, like, kind of like a classroom drink from a fire hose. And I was like, I'm sorry. I want to make it a little more palatable and fun. And I've got to build on basics to get to the advanced. And I'll blow your mind. He's like, no, I just want to leave. I said, all right. Gave him his money back. Only one student in 10 years. But that's why. So, yes, you're gonna have to put up with some of my dumb jokes. And I'm gonna build basics to advance. Okay, let's do some Q and A. I don't have my glasses. I'm gonna need some help here. Okay, Corey, you telling me? I'm just gonna read the ones right up here. Okay, these are all for you folks. We got about 30, 40 minutes max, and we're just gonna go through questions now. By the way, if you see a Darren Charrington commenting on questions, that's Darren right here. Let's share to the screen here with Darren. Corey, if we can switch cameras. So we get both of us in here. And so if you'd see Darren typing, he's gonna be answering Questions. And I'll ask for his feedback as well. He's an attorney in our office. His. His probably expertise, I would say, is crypto.

Yeah. Right now, everything for me is crypto.

Yeah.

Yeah.

So.

Which is fun. I love it. Yeah, I love it. I don't have the alienware here today. I'm switching over the iPad so I don't have to haul it back and forth. But, you know, it's at home mining, so.

Okay. That's right. Both. Both Darren and I have mines. My mine is in my Roth. I'm mining in my rock, baby. Making money. I can look at my nice hash account right now. What is bitcoin at today anyway? Let's see. It is. It is at. What the heck? Why am I not seeing that better? Okay. 47,000. But I'm getting mining in my. This is my mine right now in my Roth. Ira. Okay, Question number one, by the way. Did you want to say anything on real estate? Any general comments or just dive into questions? What did you have?

There was actually a really good question that I liked from Facebook. Essentially, somebody said that they found a. Let's see here. Sorry.

That's okay.

Okay. They found a duplex that is under 40k.

Wow.

Which is awesome. And he says fully occupied. But they don't have the money to do it.

Okay. So down in Tijuana, they found a duplex for under 40 grand.

Right.

And they don't have the money to buy a $40,000 duplex.

Right.

Okay. Now the first thing that comes to mind to me is a couple things. You go first. You brought it up.

No, let's hear it. I want to hear what you hear.

Okay. The first thing I would say is, if you're seeing a duplex for 40 grand, I want to know what market you're in. That could be. Now, I'm okay with low income housing. I've got a Section 8 rental in South Chicago. I'm cool with that. But if you got a $40,000 duplex, are we going to try to rehab it? Are we going to really increase the value? Are we in a really trashy rental scenario where this thing's going to get beat to hell? We got to be being careful buying a $40,000 duplex. I run or I want to know the metrics and why we're doing it. Right. That's my first concern. Number two is if you don't have money for a $40,000 duplex, we maybe need to look at what's going on in your life. Do you have an Emergency fund? Are you in credit card debt? Are you. What is your side hustle? How's your day job look? What are you doing for health care? Because now a lot of times a forty thousand dollar deal, they want cash. So that's a fair point. I don't have 40,000 laying around.

If it's a fixer upper too, some banks might be more hesitant to loan.

True.

Something like that. And so that could be part of it as well.

That could be part of it. But so if I can get that, if some of you are like, yeah, Mark, we're doing okay, but I don't have 40,000 in cash laying around. Okay, fair enough. My answer to all this, if we know that you're not in financial straits yourself and it's a good deal, those are first two hurdles. I have third partner with someone. Yeah, I mean really, Darren, me and Corey could help on that deal. We could go four ways. Yeah, I'm not saying we would. I'm not trying to make a deal here on the. This isn't Shark Tank. But I could come in with ten grand from a Roth. Darren could come in ten grand in cash. Corey, he could sell his piece of crap car out there and come in with Tank, right? No.

Oh,

I think you're right. His car is nicer than mine. That's why I'm teasing him, ladies. He's single by the way.

My wife had to drop me off because one of my cars is not working today.

Yeah, we're both. We got to take the millionaire next door approach. You're not going to go out and see a Mercedes or Beamer outside. I'd rather put my money in other places than my car. But that's me. Some of you want to have a nice ride, that's cool. So anyway, but you can partner. Let's create an LLC that has four partners. And they could be IRAs, they could be people, they could be Roth, they could be a lender that is going to throw in money as a lender, not a partner. So we, and then we take this LLC and we go buy this little duplex and maybe we have a budget for rehab. So I don't know. Interesting. We set up the LLC where the rental is.

Absolutely. Yeah. Get the LLC set up where the rental is. The other thing is I love the partnering, but I also love that Mark brought up the retirement accounts because you have people out there that want to put retirement accounts into real estate and into rental properties. But the problem is there's prohibited transactions

and they don't know How?

Yeah, and they can't go in and work on that property. And so they are looking for partners and they might have the funds there and available and just needs somebody else to be able to run the deal.

If this is a concept some of you have never heard of, go to any of your podcast portals that you like. Whether you're on an Apple phone or an Android. You might use the app Stitcher. Go to Directed Ira podcast. We have the first five to 10 podcasts we did sequentially that explain the whole strategy. Yeah. And you'll freaking love it.

So real Check dates Episode 6 All

right, so now, So I've got my rental and my home. And he says, are the tax strategies going to be the same or tax advantages? They are very different. First your home. You're going to get a mortgage interest deduction if you don't do the standard deduction, which has been increased substantially. So more and more millions of Americans are going with the standard, which this year. So you don't even take interest deduction on your home. The standard this year is 12,005 50 if you're single. If you're married, it's twice that. It's 25, 100. So if you do the standard deduction, you're not even going to write off the mortgage interest on your home. You can write off rental property, sorry, rental property tax, up to $10,000 with your mortgage interest. But here's the deal. Why I want people to buy a home is not so much. The tax strategy is you're not paying rent to someone else. That's a good thing. Darren, why don't you take a stab here? Tell us, I mean, what are the tax advantages or differences from owning a personal home to versus this rental up here? I'll list them as you go through them. But if they want to buy a rental, they're going to get differences big time. What are you, what are your thoughts?

Yeah, absolutely. So I, I think the big thing with the rental property is that you now have a small business.

Great.

And so you can start opening up all of those types of tax write offs.

You open a whole can of worms, baby.

Absolutely, absolutely. So travel, Travel. We love recommending buying a property where your kids are going to college or things like that.

Where you like to go or where

you like to go. Yeah, buy them where you travel.

It could be an Airbnb even.

Absolutely. And then you can go and check on the property and while you're visiting your children or other things, you can check on the property, be able to write off some of that dining, auto, expenses for fixing it up. Right now, rehab is different than just general maintenance.

Yeah.

But you can be able to write off some of those expenses.

Okay, we're just going to say. And I've got 25 write offs that I talk about in my workshop. So we're going to. You got a small business with a rental, that's a big deal. You're going to get depreciation.

That's the big one.

And I think the next thing I'd add is you're going to get growth. You're going to get future equity by having a tenant pay the mortgage for you. And this thing's going to go up in value. Cash flow.

Cash flow.

And I'm going to see these three things. The tax write offs, the future equity and the cash flow is going to be completely a different advantage than owning your own personal residence. And the goal here again is just quit paying rent to someone else if possible. Okay, there was another question on there where someone said, how do I buy crypto in my IRA or 401k? Wow. Now I was just going to go to YouTube and just see if I have the best, fastest way to get to my. I have video on that. So I'm going to go crypto, Crypto mining Kohler. I'm just gonna see what comes up. Just so we get. Because I've got a couple really good videos there. There we go right here. How to mine crypto in your ira. How to save taxes, Mining and crypto and trading crypto. So a lot of different. Avoid paying taxes on cryptocurrency. So I've got probably three or four videos I'd recommend you guys. Oh, look at, I'm already diving into it here. I've got several videos on YouTube. If you just type crypto crypto mining Kohler, you're going to see my video playlist. Really, really good. So get over and check that out. But the basic strategy, you take an IRA over it and I want you to comment here, Darren. I'm just going to throw out the generals. So we got an IRA at Wells Fargo, whatever. So you're going to, you're going to say I'm going to move my ira. I'd love to move a Roth, but I'm going to move it over here to a self directed custodian. Now that's a trust company that allows you to self direct. They've been around for years. The one we Love is directed ira.com. and what you're going to set up is not A crypto ira. You're just going to set up a basic Roth IRA and this account. Now when you move your IRA to a different IRA here, there's no tax, there's no penalty. And this could be a 401k even, you know, you're just going to move the old 401k, the old IRA, the old Roth whatever. And you're, I'm going to call it a cderp, a Self Directed retirement Account. So you have this sudirp Self Directed Retirement Account retirement plan. Oh my gosh, there's so many. That one right there. How to mine crypto in a Roth. That's a good one. Can you put the link in all the feeds? Thanks, Corey. So there's a feed everybody that I mean in the feed you'll see the link. What you do next is you open an LLC owned by your cderp, your retirement account, you fund it. And this account, this LLC is actually going to be a holding company. This LLC is going to open your mining company, which we're going to want to be a C corp. And this is going to open and create the mine and buy the motherboard, the cpu, the video cards. And we typically set this up with nicehash and another wallet. Now you can do all sorts of mining, I get it, you techies out there, but this corp is going to be funded with the money that came from your retirement account. So the retirement account kicks up the money, we bring this down to 100 bucks. I really just want to zero this out. Then we push the money up here, we buy the mine and we start mining. Is this makes money. We have to pay tax on the mining at 21%. There's no way around it then. But whatever mining money I make, I kick it back down here, hold it in this company, buy whatever coin I want, never pay tax again. Now that's a ROTH strategy, which I would highly encourage you. This is what I'm doing. I've got a three video card mine, I'm making about an 80% return with my mine. And all of this crypto is growing tax free forever. Anything you'd add to this and I'll put it in red. Any thoughts or comments here?

Yeah, I think the biggest thing is just make sure that you get this set up before you buy the equipment.

Oh good.

I have, I've had people come in, they're like, oh, I just bought the miner. Now I'm ready to set up the retirement account and stuff. And it's like, okay, well once you own it Personally, you can't switch it over. So set this up first and then you can really do whatever you want. Nicehash is a great way to go. It's easy. A good way to set it up and just move it down to the llc. I love it. You don't want to hold it in that C corp.

Okay, cool. Corey, let's leave this up. I want to hit Tabisha's and Dazha Vu's question first. Deja vu.

Deja.

Deja. Is that what it is? Yep. I don't know how to say all. Deja vu. I'm such an idiot. All right, Deja vu. Everybody's like, Kohler is a frickin idiot. Okay, thanks everybody for your patience. Deja vu says I don't know how to spell deja vu. Is that how you really spell it?

No.

No. Thank you. Okay, thank you. I'm redeemed. All right. Do I have to pay capital gains tax if I buy a house and turn it into a rental? No, you don't. I mean, when you turn it into a rental, you don't now, when you sell it, someday you're going to pay capital gains. So upon sell or you do a 1031 exchange, kick it down the road, or you borrow against it, do an equity strip and buy another rental and pay no tax, or you buy the whole darn thing in a freaking ira, preferably a Roth, no tax. So we've got all sorts of ways to prevent the tax when you or minimize it or kick it down the road when you go to sell the rental. But I think you're good. Now this question was for Darren. Does the loan originator mortgage lender qualify for a rep status?

Real estate professional status?

Is that what he's asking?

I think so.

Hi, Darren. Does the loan originator mortgage lender call? Okay, I think what he's saying is if I'm a, if I'm a mortgage officer, do I qualify as a real estate professional? Okay, everybody, this is good. This is a chapter in my book, the tax and legal playbook where I talk about real estate professional. So if we go back to our diagram here, and so here is the revocable living trust. And if you've got a day job or a small business and you make more than 150 grand AGI adjusted gross income first, that's great. Congrats. If that's going on in your life over here, if you start buying rental properties, they're going to cash flow, appreciate and kick out losses. Now let's look at this they're going to generate cash flow. And I'm going to let you answer the question. I'm just putting in context for everybody. Will this person down here that's a loan officer qualify as a real estate professional? Now, not everybody has to. I'm not saying everybody's got to be a real estate professional, but will this person. Deja vu, no, Tabish, qualify as a real estate professional? So the rental properties are going to generate cash flow, which we love, they're going to appreciate, which we love. But what's unique about rental properties is they're going to kick out losses on paper. And we love paper losses because as an accountant, as a tax attorney, we can take these paper losses and write them off against all your other income until you make 150. Throwing things around. Can you grab that for me, Darren? Thanks. Until you make 150 grand in AGI, then you don't get to that write off anymore. You lose it or it carries forward. That's the good news. So you're either going to build a bucket or you're going to get the write off. This trick here is if you or your spouse. So if this guy is married, if either one of you are an rep, a real estate professional, then there's no bucket. All the losses, millions of them, right off your other income. Now, everybody was ticked off when Donald Trump only paid $600 in taxes. They said, how did he do that? Because he's using the same strategy I've been teaching for 20 years, and that is Donald Trump buys hotels that generate losses that wipe out his income on Apprentice. That's all he did. I want you to do the same darn thing. If you're a realtor or a developer and you buy rentals, I can wipe out all your income. That's what Trump did. It's a legit strategy. All of you can do it. So the golden question, everybody to be shafts. If husband or wife is a mortgage officer, do they qualify as a real estate professional so they can trump this? I get that Trumpet. Okay. What do you think?

So, yeah, let's go over the requirements for a real estate professional.

Good. First of all, I'm going to put it in red.

Yeah. Your primary occupation needs to be in real estate.

Okay. Number one, primary, primary occupation. Would that include a loan officer?

I think that's the question.

Yes. Do you want some help on that answer? No.

I think it's close. Loan officer? Yeah.

Yes.

I would say yes.

If they own 10% or more of the company or they're a Sole proprietor. If you are a W2 loan officer at Wells Fargo, Wells Fargo anywhere, you are not a real estate professional. You have to be independent, like a entrepreneur loan officer. And then you would your primary occupation. But you have contractors, realtors.

Yeah. This is a great distinction.

Fix and flippers.

Right. Well, and even with contractors. Right. You're gonna need to be a gc. You're not going to be a subcontractor, plumber, electrician, or something like that.

Good call. Yep, love it.

The other thing is number two, you

got to do both. Got to do both. People 1 and 2, you have to

spend at least 750 hours a year doing it, doing it. So that's about 13 to 15 hours a week.

Now that's not managing your rentals. That counts toward the hours, but it also counts like this primary occupation counts towards that. And I think I better say the third requirement is you materially participate. And there's seven rules on how to do that in the rental. You don't. You can have a property manager and qualify, but there's seven tests.

So you have to meet one of those seven.

Yep, yep. So primary. So the answer to depiche is yes. A real estate lender individual would qualify as a real estate professional if they own 10% of the lending company or more. Or they're just an independent loan officer receiving a 1099 with their own S Corp. If you're a W2 working for someone else. Nope. Okay, where should we go?

Okay. Ryan Lee actually was asking some questions and he had a few in there. So his first question though is his parents have property and what is the best way for his parents to be able to pass that on to their children?

Okay, parents have a revocable living trust. That's the. That's step one. Yeah. And they have rental property. Yeah. Okay, so we're going to assume an LLC and rentals. What do you. I'm going to put Darren you on the spot. What do you think is the best way to get this to the kids? They're over here. And have them get stepped up basis?

I think the best way is to right as you. Well, I mean you pretty much just drew it out, have it in the LLC for that asset protection, keep it in the revocable living trust and then send it out to the kids.

Okay. So through the will and the trust, so everybody kind of gets the sense here we're going to bequeath or we're

going to list the kids as a

benefactor, less the kids as the beneficiary. Of the trust when both parents die. So if that mom dies, dad gets to keep the rental income, dad dies, mom keeps the rental income. But with both mom and dad die, the kids get the property stepped up basis. They can sell it tomorrow with no tax. Do not, do not put your kid's name on frickin title and do not make them an owner of the llc. Those are the two worst things you can do. It's going to jack it up for taxes and asset protection. No, no, no, just make the kids the beneficiary of the frickin trust. Let the trust own the LLC and let the LLC own the rental boom. All right, now Ryan, you only get one question per open forum. There's so many questions here, so I hope we chose the question you like. Sorry, Ryan. Okay, Corey, you stop. All right, we have Patrick Doyle. Look at that fish. Oh my gosh, it's huge. You know what that's from? What movie? Look at the size of that fish. Fugitive.

Oh, okay, right.

Huh.

I've seen that like once. What I have to say, I'm sorry.

Tommy Lee Jones is in the apartment of the accused killer. Yeah. And he's questioning him and he goes look at the size of that fish.

Anyway, I remember we borrowed from somebody on vhs. Unfortunately I don't.

VHS for some of you that don't know what that is, that's a video cassette.

Yeah, I know, I don't have a VCR anymore.

I used to watch them on 8 track. I'm just joking. All right, Patrick Doyle says, do real estate losses on paper hurt my chances of buying or getting loans on future rental properties? Patrick, great question. So if we look at our diagram here, look it. I've got these paper losses over here. Now let's think about it. Patrick, if you're not a real estate professional, are these losses going to hurt you at all in your 1040?

No, no.

They're going to be sitting over here in this bucket. So that's first answer. That's an easy one. So if you're making more than 150 grand, you're not even getting those benefit of the losses right now. You can cash them in someday in the future. But no problem number two, I would say that rental losses on your 1040 tax return can be a problem if you have an inexperienced lender. Most lenders that know what they're doing and this is where networking and finding a good lender is absolutely critical in the rental property business. A good rental lender is going to do add backs for depreciation they're going to do add backs for depreciation. What do I do with my hands? I don't know what to do, Ricky Bobby. Okay. Yeah, it's good for the economy. Hurts. No one. Helps everyone. That freak anybody out. Freaks me out. Okay. All right. Okay. So, okay. If I have losses and they're going on my 1040, a good lender is going to add back depreciation and they're going to count the rental income on top. So that way a lender takes into account and really wipes out the effect of the losses on your 1040. So you can go get loans. Had to do this just this last week because I'm getting a loan on my steel building.

Oh.

And so because I'm wrapping the mortgage on the duplex in front into the loan for the steel building. Give me some love. Yeah. So the lender was like, I need all your K1s, I need all the losses. I need all your tax returns. And he starts doing his magic because he's a sophisticated lender. So if you go into the 25 year old at the bank and ask for a loan on a rental property, they're gonna ask for your W2 and meet Fannie Mae and Freddie Mac guidelines, they're gonna blow it up. So find a sophisticated lender and you're gonna be fine.

Yeah, I think that's the biggest thing. I get so many people who call in and they're like, hey, I tried to get a loan and they said no. And I'm like, well, how many lenders did you go and talk to?

1.

Yeah, go talk to a few people.

Right?

Cause you got these people who are just trying to fit you into a box. You know, they want to sell it off to the government. Just get rid of it. If you can find a good portfolio lender, somebody who can actually underwrite it, it's going to be a different story.

I like it. Okay, now let's see. Agent Omega's back. Welcome back from last week. Show us the complete trifecta. Ultimate setup. Oh, my gosh. Agent Omega.

Okay.

Should I. Cory, can I do it? Let me see if I can get over to it. It was on here last night. Okay. It's not on that one. I think I know where it is. Oh, here we go. Is it on this one? Can I do the master trifect? This isn't too bad.

These are the summit sleds, right?

Yeah, this is a pretty good one. They can't really see it. Can you focus in on it? Okay. Corey's going to Try to work his magic. So this is a slide that's pretty advanced. Can get a more complex if some. A little frustrated. Corey's trying to do a little bit of focus here. But this is a diagram that we set up for clients all the time. If you call my office and you get a trust or an entity or just need a consultation for at least an hour, my tax attorneys like this amazing Darren Charrington. They're going to build a diagram for you. And then over here, we usually do a checklist of what you need to do. So, Agent Omega, this is a pretty good example. Sometimes I have limited partnerships, more rentals out here. We might have a domestic asset protection trust. This is about it. Yeah, sorry, everybody, but that's. That, that's a good example of kind of what we're doing. All right, all right, back to the whiteboard. All right, next question. Kevin Andrade says, Mark or Darren, can you touch on bonus depreciation? For example, if I'm an llc, wife is a realtor. Huh? Huh?

There we go.

Okay, now see, Darren, Kevin knows what he's talking about. So his wife is a real estate professional. That's a big deal. Kevin, he's just kind of a regular loser. But his wife's a real estate professional, so. Hold it, Corey. I got to read the rest of his question. Holy crap, it's Kevin. There we go. Good job. Okay, and I make 50 grand a year net profit. Can I use profit? Net profit, 50,000 net profit. Can I use bonus depreciation to wipe out the earnings versus doing an S Corp? Okay. What? I think Kevin gave me limited facts, but I think I know where he's going. Ooh, this is a tough one. Why didn't I read that question? Freaking Kevin. Jerk. Okay, okay. Here's your revocable living trust he's got. Is he talking about bonus depreciation? Not on rentals. He didn't say the word rental anywhere in there. Right. Okay, so I'm not going to worry about the rental side. He's got either a sole prop or. Go back up to Kevin. I want to try to interpret what he's saying. Okay. He's either got a sole prop or he has an S corp, and he's got typically 50 grand of net income. If I'm an LLC, wife is a realtor. So I don't know if he's saying his wife owns the llc, what the wife has to do with it. That's kind of. I think that's a red dress in the matrix. Has nothing to do with the question and make 50 grand net profit. Can I use bonus depreciation to wipe out the earnings versus using an S Corp strategy? The answer is no. Kevin just said rental.

Yes.

Well, what the freak does that mean? Rental? Yes. Kevin, you need a consult. Here's what I'm going to do is I think because S Corp has nothing to do with a rental or maybe he's saying he's got bonus depreciation over

here or maybe can and he wants

to offset 50 grand net here and not be an S Corp. Here's the answer, Kevin, either way. Okay everybody, and I'm just toying around with you, Kevin here, just having fun. Here's what Kevin's asking everybody. He's asking about bonus depreciation, which is where you get to write off equipment or a car fast, truck fast. That's what bonus depreciation is. Bonus depreciation really doesn't have anything to do with a rental unless you do a cost seg analysis. And you would not be doing a cost SEG analysis for 50 grand of net income to deal with not worth the cost. So Kevin, I'm just assuming you're talking about equipment or a vehicle and you're going to bonus depreciate the crap out of it, which means you get a fast write off. And he says he's got a rental and his wife's a real estate professional. So what I think he's doing is he's trying to bring the loss over here to this side to wipe out this income so he doesn't have to do an S Corp. Can't do it. Here's the reason why. The S Corp analysis of whether you pay self employment tax. Is before you bring losses over from a rental. Now if you've got equipment in the sole proprietor, let's say a car truck, and you can bonus the crap out of it and generate a loss or wipe it out before profit here. Yes, you could avoid the S Corp for another year. So you would do the bonus depreciation here and skip the S Corp bounce. But if you're trying to bring bonus from over here, that's after the fact. So you're going to have to do the S Corp thing. Then you get the bonus write off. Like it.

Absolutely. I think the biggest thing is, you know, a lot of times on our diagrams underneath this trust, we're going to have your 1040, right. So we got to look at where is this depreciation actually happening. So when it comes out of the S Corp, you're paying self employment tax up here?

Yeah.

Then it comes down to the 1040, and that's where the depreciation is going to come down and offset it.

This is where you're mixing up the margarita is down here.

Yeah.

So we're bringing in the loss over here after your net income of your S Corp. But if you have bonus depreciation up here, I might be able to avoid the S Corp for another year. Okay, Corey, what question you want? I like the crypto questions. Go back up a little. There was another crypto question. This one was pretty good. Okay. All right. Okay. Ian Dieppler. You want to read it?

Yeah, sure. Ian asks, I just set up an LLC to buy a rental. I wanted to know if I could use a $10,000 personal loan I received from a local credit union, deposit it into my LLC bank account and use it for a down payment.

Thank you, Mark J. Kohler.

Thanks, Mark Kohler, Ian.

Thank you, Ian. Mr. Ian Diggler. I appreciate that. Okay, so he set up an LLC to buy a rental. So he has not purchased yet. And he wants to take 10k from a personal loan he got somewhere and injected into the LLC to go get a long term loan to buy a rental. What do you think? You like it?

If it makes financial sense, I like it.

Yeah, I think this looks good.

Yeah.

So you could get, you get 10k from mom, get 10k from your IRA, go steal 10k. No, I'm just joking. I would never recommend that. But go get 10k from somewhere, injected in the LLC, go buy a rental now. Now where you get the 10k might cause the bank a little heartburn.

Yeah.

Cause they might say, is that season money? Where did you get it? Blah, blah, blah. And again, you gotta jump through the fricking bank hoops. But no, I like that. Okay, where are we at? Vaughn says, why did the IRS change the W4 for employees making it so difficult? Because it's the frickin irs. And really, Vaughn, it's because of all this injections of stimulus money. You know, some people have gotten money through unemployment, some people have gotten the stimulus check of 1,000 here, 2,000 there, blah, blah, blah. They have two kids, they don't have kids. Did they get the child Tax Care credit? There's so much money the government's throwing at you, which is a whole other political conversation. I won't go there. The W4 has got to help interpret that. So the government knows how much to withhold or tell your employer how much to withhold from your paycheck. So if some of you are filling out a W4 and want to throw something out the window. Quit taking money from the government. That's why they're doing it, Vaughn. All right, how are we doing on time, too? Cory, one or two more questions. Should we give away some books today? Do you have some winners? Okay, you take your time while we answer this question. I want two males, two females is the best you can decide. And I'll give away a CPA book. I'll give away four books here. Cory's going to tell us who our winners are.

Tell them the first few people to

actually say, give me one and I'll give you. Really? Okay. He said, okay, you ready? And I'm going to count down to 10. No, I'm going to count to three.

Should I post? And then as soon as they post.

Yeah, yeah, I'm going to count to three, and the first four people to say, I want a book. Get a book. One, two, three.

Whoo.

The race is on. All right, I got to answer a question here. Okay. Corey, can you go up for me so I can look at the answers? Oh, Darren said start. Amy, who's our winners? We got Amy Brandon. We'll come back and announce our winners here in a minute. Eva, look. You look so adorable. Okay, I need a question. Give me a question. Okay, go up. Go up a little bit. Yours a good one. Okay. Oh, let's do Kwan. I. I like Kon. Jeff Kuhn. Jeff. Okay, says, should I start a holding company in Wyoming before starting an LLC selling bike parts? My wife is a W2 and I am a disabled. I'm disabled presently and don't own a home yet. We rent, but we have a high FICO score. I'll let you answer that. Why don't you give your take first? Now, everybody, let's say holding company in Wyoming. I have a Bike Parts LLC. My wife is W2, and I'm presently disabled. We don't own a home yet. We rent, but we have good credit. Ooh, I've got a lot to say.

What do you want to say first? Yeah, let's start with the trifecta. Okay, we want to go. We want to try to figure out, okay, is this left side or right side? Is it ordinary or passive?

Whatever he's doing. Okay, bike W2 here for mom. I mean, wife.

W2 over there. And then with a bike parts store. That's going to be ordinary.

That's going to be ordinary. So that's a business. So it's going to be on the left side. That's Short term versus long term.

Right.

So we have an llc.

Yeah. And I'd set up that bike parts store in that LLC where you're doing business.

Okay.

In. In the state where you.

So, yeah. So if they live in Arizona or New Jersey, going to set up this in Arizona or New Jersey. Wherever you live, that's where you set up your llc. There is no freaking Wyoming LLC involved. The only time we use Wyoming is for a holding company for assets. When you start kicking a million bucks, you know, you start getting there. You got five or 10 rentals, you've got some crypto worth some millions, whatever. Then we set up a Wyoming holding company and then set up your LLCs above that. And this is an extra layer of asset protection. That's an advanced strategy in my tax and legal playbook. All right.

Yeah.

Now has some other stuff. What else you want to hit?

Yeah, there's some videos on charging order protection is going to want to look for cop.

Go YouTube. Kohler. Cop. Cope. Cop. Okay. What else you want to talk about? I've got one.

Yeah.

Okay. He says he's disabled. Now, that is a big deal, because if you're disabled and you're getting disability benefits, you starting a business, not a good idea. It could limit your disability benefits. Just as if he went out, got a job. Because the disabled benefit insurance company, or if it's state or federal or whatever it is, they're going to go, whoa, whoa, whoa, you're disabled? How'd you go get a job? You already know. You got to be careful there. Now, if any of you are in that situation, the first thing you do is find out from the insurance company how much you can earn or how many hours you can work a week before to fix your benefits. So, Jeff, that's the first thing I do is I find out when do my benefits get affected, if I make money or work so many hours. All right, I've had clients come to me and go, hey, Mark, I need an S corp. And we set them up an LLC and an S corp and the whole nine yards. And then they call me up furious three months later. This happened in my career about 10 years ago. Furious, going, I just lost my disability benefits because you set up a business for me. I'm like, you didn't tell me you were disabled. Oh. But I mean, it was a big fiasco. You going out and setting up an LLC under your name, Jeff, could affect your disability. So I would set up the LLC under your wife's name. And you just happened to help her Run it. She can have a W2 and an LLC. Stay away on paper. Run that business with your wife, but in her name. Now, I'm not trying to play games to get away with something screwing over the insurance company because I want you working. It's healthy. I want you earning money. But find the boundary so you don't screw it up. And I think that's a really important point. But you do not need a Wyoming entity. Go out and make this bike parts store effective. And if you've got a FICO score, that's great. Watch some Dave Ramsey videos, bud. I don't want you going into debt for anything. You don't have to. So cherish that FICO score and be careful. All right? And my winners are. Thank you, Cory. We have. We put five names down here. All right, I'll give away. Should I give away the grand prize? Is the first person to say something get a grand prize? Okay, hand it over, everybody. This is my eight steps workbook. $99 on Amazon, 60 videos, QR codes. You can start right now. It gives you a business plan and a marketing plan on word in word. You can start using it. You will love it. Took me two years to develop it. Amy Myers, you are the winner. My Fair lady. So, Corey, let's make sure she gets Eight Steps. I'll put that here. Okay. And I think Corey chose you, Amy, because you look cute and Cory's single, so I'm just saying. So just throwing that out. Okay. Oh, she's married. Look at that bow she's with. He's kind of. He's got ripped biceps, too. I'd stay away from Cory.

Yeah.

Yeah. I'd stay away. Okay, now our next winner is Elisa Maltz. Tax and Legal Playbook. Girl, let's give you a Tax and legal playbook. Now, for all of you that are winners, I need you to. You got to email Corey. Corey, you got to send them your contact info so we can mail you the book. So we need your mailing address, coreyarkjkohler.com. now, for you unethical people out there that are going to play like you're Amy and just send us your info. Don't do it. Be honest. So he will confirm who these people really are. Okay, the next winner was Quentin Mason. I'm going to give you a what your CPA isn't telling you book. Very, very fun to read. It's a story get you addicted to tax planning. It's a good one. That is Quentin. So that's the CPA book. Brandon I'm feeling it. Brandon. Brandon Smith, I'm going to give you the what your c. I'm sorry. The self directed IRA Handbook. Best selling book on self directing retirement accounts written by my partner Matt Sorenson. I will even sign it for you. You're going to love it. And okay, that's Frank Phillips says 6,000 emails later, of course. What, 6,000 emails later.

What, what I'm going to get in my email account.

Frank. Funny, funny. Okay. And the Business Owner's Guide to Financial Freedom. Folks, these are all great books. You can get them in a bundle at my website@markjkohler.com at a discount. So if you want to get a bundle of these books go to my website or you can go to Amazon and one off them. So that's Kathleen. Kathy Lemmer. Kathy Lemmer, you are the winner of Financial Freedom the Business Owner's Guide to Financial Freedom. My most recent book, which I love. Okay everybody, thanks for being here next week. I'm going to be out of town on Thursday. Are we going to do this? Should we get, get some guys in here, Let the let Darren and the team run the show. I don't know, we'll see. Yeah, Cory will run the show.

Yeah, we'll have Cory up here.

We'll talk to her folks. If you guys want to have Darren and maybe we can get Matt Sorenson on here here to help run the show. We'll see how it goes. Everybody, don't give up on the American dream. Keep working hard and thank you for being here. Please subscribe, Share this video I work so hard to present something helpful and I really, really love you. And don't forget our workshop sessions. Chicago, Orange County, Honolulu and Dallas. They're on my website@markjkohler.com oh and here's the special if you're still watching Flash 50. If you sign up for a workshop and in the promotion little box put in flash 50. It can be lower caps, higher caps, doesn't matter. 5, 0, flash 50 all one word. Save 50 bucks on any of the workshops. One day or two day.

And where can they sign up?

Mark@markjcolder.com and this will be good for the next couple hours. Two or three hours. So two hours. We're doing two hours. Flash 50. Thanks everybody. Have a great week. See you around.