No Tenants, Toilets, or Trash? It’s Possible, Through Self Storage w/ Paul Moore

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  • Nathan GesnerBusiness Member
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    Real Estate Broker · Cody, WY · Member since 2010 · 28k+ posts · 41k+ votes
    4y

    Great episode and I am going to read the book right now! I bought my first self-storage a year ago and can't wait to grow in that market! I also agree with the "tax strategist" advice. For years I was asking my CPA how to avoid paying taxes like the wealthy, and she never had any answers. I was paying $40,000+ in taxes each year. In 2021 I hired a tax strategist and I will be paying ZERO in taxes! Finally, I appreciate Paul sharing his "why" for making money. My current goal is to earn $300,000 annually from my investments. $100,000 to live on and $200,000 for charitable giving. Thanks again, guys!

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    • BiggerPockets TeamPro Member
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      Member since 2026 · 14k+ posts · 8 votes
      4y

      Soldat - would you mind sharing the name or contact info for your tax strategist? Your experience for years sounds like my current status and I'd really appreciate any direction you can point me in or a contact you can put me in touch with. Thank you!

      Originally posted by Shibani Dogra.

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    • Nathan GesnerBusiness Member
      Moderator
      Real Estate Broker · Cody, WY · Member since 2010 · 28k+ posts · 41k+ votes
      4y

      I won't, simply because I'm in the process of firing her company. They were a little problematic on communication, but we ignored that as we watched the savings roll in. They gave us some specific advice that we followed to a "T" only to be told that we shouldn't have done that because it makes their work more difficult. WHAT? They started to prepare our 2021 taxes and asked for documents we had already provided, some more than once. They just didn't seem as organized as we expected and they gave us advice that they later contradicted.

      Long story short, we decided to talk to a local CPA. They knew all the same tax strategies and have already suggested a few more that will simplify our job and save us some more taxes. I also like that they are local and I can see them in person. The main CPA goes to my church and I've known him for years, but I never realized he could handle tax strategy.

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