What has five letters but causes so much fear that millions of wannabe investors never get started? That’s right: TAXES. But taxes don’t need to be scary — and understanding and utilizing the tax system can actually help grow your business and help you build incredible wealth. That’s why we’re excited today to sit down with Brandon Hall, a CPA and real estate investor who works exclusively with real estate investors to help them strategize and organize their business in the most cost-saving way possible. We cover Brandon’s real estate journey, including house hacking, LLCs, S-Corps, bookkeeping, and so much more. You’ll love Brandon’s engaging and entertaining personality, and for once in your life, you might even enjoy learning about taxes!

In This Episode We Cover:

How Brandon realized the need for a CPA through the BP community
How he grew his firm through the BiggerPockets Forums
The importance of giving value to others
The details on his three-unit property
Tips for hiring a “leverage property manager”
How to find investors in your community
The details on his second triplex
Why he focuses on multifamily
How he funds his deals through FHA loans
The way he looks at PMI
A mistake he is guilty of when it comes to inherited tenants
Training your tenants and other management hacks
The tax benefits of house hacking
Mistakes he’s made in his real estate investing
Tips for finding a good CPA
Advice for those deciding whether to use an LLC or not
What you should know about LLCs
Things to know about the “real estate professional” tax designation
When to hire a bookkeeper
Common mistakes investors make with taxes
And SO much more!

Links from the Show

BiggerPockets Meet
BiggerPockets Webinar
BiggerPockets Forums (with new leader feature)
BiggerPockets Bookstore
BP Podcast 060: From 0 to 68 Rental Units in Just Four Years with Serge Shukhat
Xero
Quickbooks
The Tax Implications You MUST Understand Before House Hacking (blog)
Looking to Invest Out-of-State? Here’s How to Pick and Analyze a City (blog)
The Importance of Reserve Accounts (Or What a Surprise Roof Replacement Taught Me) (blog)
BP Podcast 004: Commercial Real Estate Investing With Frank Gallinelli
BP Podcast 162: How to Pay Less to the IRS with Amanda Han, CPA
BP Podcast 005: Dealing with Death – A Financial Discussion with CFP Neal Frankle

Books Mentioned in this Show

The Book on Tax Strategies for the Savvy Real Estate Investor by Amanda Han and Matthew MacFarland
The Book on Managing Rental Properties by Brandon and Heather Turner
What Every Real Estate Investor Needs to Know About Cash Flow… And 36 Other Key Financial Measures by Frank Gallinelli
It’s Not Rocket Science by Dave Anderson

Tweetable Topics:

“Don’t try to sell yourself. Let your content sell yourself.” (Tweet This!)
“You as the business owner should not be in the bookkeeping.” (Tweet This!)
“The ongoing tax strategy throughout the year, that’s the time to save money.” (Tweet This!)

Connect with Brandon

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196: LLCs, House Hacking, and Saving on Taxes with Brandon Hall 01:29:26

BiggerPockets Real Estate Podcast

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196: LLCs, House Hacking, and Saving on Taxes with Brandon Hall