All Forum Posts by: Derron Taqee

Thanks for the answer. Kiyosaki's idea sounds good but it just sounded too good. Appreciate the clarity. I don't know much about accounting/finance but one could in effect label everything a company expense and get away without being taxed from RK's view.

Understood. Much thanks for the response. I figure that was a little farfetched but thought it might have some truth in it because of all the stories you hear in the news about the "rich" taking advantage of loop holes. I'd think it better to tell the truth also.

So I just finished reading Robert Kiyosaki's Rich Dad Poor Dad and he stated something about how business owners pay taxes vs how 9 to 5ers pay taxes. He says 9 to 5ers pay the gov first in taxes and they get whatever is left over BUT business owners get to pay themselves first and the gov gets whatever is left through labeling vacation trips, outings, etc as company expenditures. Can owners actually do that? Seems like a loop hole that might be shut down. Idk. Can anyone shed some light on it. Thanks.

Alright thanks everyone. @Ellis San Jose I most definitely will!

@Carolina E Hello Carolina. Glad to see other Chicagoans here as well. I see you have birddogged for some wholesalers in Chicago. I was wondering, Chicago being as competitive as it is, is it time-intensive to birddog and wholesale?

@Bill Ham Thanks for the tip. You said, "Best deals comes from agents". I recently read and heard that so I am planning on becoming an agent because I feel what they do would be a huge learning experience and a nice chunk of what I'd be doing daily and I would hate leaving that up to someone else. One question....would you advocate learning an attorney's job or just having an attorney on payroll? It seems their profession intersects a lot w/ours. Thanks again.

@Ellis San Jose My construction background helps me with #1 but #2 is what I am trying to get a grip on. I was going to talk to an attorney to get my head around that! That second BP podcast woke me up when Karen said, "last thing you want to do is have a lopsided agreement in court". Haha. No jail for me.

@Jack Bobeck Thanks sir! Your insight has kind of helped me in construction.

@Bill Ham Thanks for the heads up. I'm kind of torn between creating a buyers list before marketing for deals or vice-versa. It does makes sense that I should have a few "for sure" buyers as to avoid having to extend a contract with a seller. But, why do a lot of folk here on BP advocate marketing first? What if a deal isn't smoking hot and doesn't sell? I would hate to use a contingency.

@Madonna Machado Yes I am also grateful for this site and its members. Great resource!

@Ryan Steele Good to hear! I definitely believe in sharing what you know. @Jerry W. Thanks I'm on it!

I figured knowing a few investors was implied but just didn't know for sure. Thanks!

Thanks Mike. I wish I was at a house but competition to get in is stiff. I actually work private for Med-Ex at the moment.