256. How to Make KILLER Returns on Passive Investments and Save BOATLOADS of Money on Taxes!

Podcast Summary In this episode, Justin Williams and Derrick Williams explore strategies for getting the most out of passive investments and maximizing tax savings on investment and income returns. They also share personal experiences and lessons learned from various investment opportunities, particularly in real estate. They delve into the importance of due diligence in investing, utilizing tax benefits, depreciation, syndications, and 1031 exchanges. Throughout the discussion, caution is emphasized on the high levels of risk associated with investments, and the need for individual research and decision-making. Approaches to future tax planning and tax-related implications of investments are also discussed extensively.   Disclaimer: The following is for informational/educational purposes only. We do not claim to be tax or legal professionals and the information should not be taken as such advice into what you should do in your personal situation. Always consult your personal CPA or Attorney. All investments have risk. Past performance does not indicate future results. Never invest what you can't afford to lose. Some of the things talked about in this episode are things we're just looking into and still learning on our own. Nothing should be taken as factual without doing your own due diligence. Links shared here are only for convenience purposes but please do your own due diligence before considering working with anyone.   Links and resources from this episode https://www.7figuremultifamily.com/ https://zonacapitalgroup.com/ https://odcfund.com/   Podcast Time Stamp 00:00 Introduction and Disclaimer 01:16 Welcome to the Millionaire University Podcast 01:24 The Importance of Investing and Growing Your Business 01:50 Sharing Investment Experiences and Opportunities 02:51 Invitation to Derrick for Sharing His Investment Strategies 04:41 Derrick's Investment Journey and Strategies 05:19 Exploring Different Investment Opportunities 06:08 Understanding the Concept of 1031 Exchange 07:36 Investing in Open Door Capital 09:58 Understanding the Concept of Syndications 13:03 Strategies to Save on Taxes 16:34 Investing in Banks for Better Returns 19:31 Bill Allen's Influence on Derrick's Investment Strategies 21:08 Considering Real Estate Investments 21:20 Understanding Tax Benefits of Real Estate 23:17 Strategies for Tax Savings 23:50 Exploring Section 179 Deduction 24:08 The Role of a CPA in Tax Savings 25:08 Investment Opportunities and Accredited Investors 27:55 Tax Benefits of Living in Puerto Rico 32:30 The Impact of Real Estate Investors on Communities 33:35 The Role of Entrepreneurs in the Economy 35:14 Investing in Startups 36:31 Appreciating Collaborations and Networking