Rob’s Words Of Wisdom

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22
Feb, 2023

Sump Pump Analogy: Compound Wealth Investment and Security Accounts

Rob paints a picture of a wealth building sump pump. The sump pump moves your income from the tub into one of either two buckets. The first is called a security bucket, and it is a liquid account which you don’t touch. Second, the wealth operating system bucket will hold money which you can invest wisely in order to create compound wealth investment. This is a great way to look at your retirement investment strategy.Plan your retirement investment strategy

Do you use this strategy for your own retirement savings?

Retirement investment strategy explained – Security Bucket

When we plan our retirement investment strategy, we should first sit down with our spouse, if applicable, to explain the sump pump analogy. Then, we calculate the number that we need in order to live comfortably each month. Then, we determine how many months we need to set aside.

Once we have arrived at that number, we will begin funneling it into the Security Bucket, knowing that it is a liquid account. However, we will only touch that savings in a case of emergency until we can get back on our feet.

Wealth Operating System Bucket

Rob then outlined the second bucket in the sump pump retirement investment strategy. The Wealth Operating System is made up of wise investments. These investments will not break us if any of them don’t pan out. However, they should yield a great return on investment. We are seeking out opportunities that will earn compound interest. This is a great way to build wealth for our golden years.

Join Our Community

Do you own multi-family properties? If not, do you aspire to one day? Then you should consider joining our online discussion group, the Addicted To Life Community! Each month, Rob Rowsell will teach you what you must do in order to build wealth in the real estate business. It’s not as easy as it looks! Property taxes, liens, and legal fees can all be hard to navigate, so having a successful guide in your corner like Rob is a must! Enroll today!

15
Feb, 2023

Real Estate Negotiation Class – Fine Tune The Offer!

When underwriting, make sure you get all the information before you make your offer! In this real estate negotiation class, Rob Rowsell talks about covering all your bases. If not, you may end up paying way more than you have to! Sometimes, brokers don’t ask all the right questions. Also, sellers will often provide misinformation, whether intentionally or not.

Negotiating Real Estate? Communicate to get the best deal.Real Estate Negotiation Tips – Get the Right Info, Get the Right Price

Rob opens up the class by recalling something he discovered while researching for a property deal. When he looked at the seller’s T12 (trailing 12 month) form, he found $12,000 listed under “Other Income”. Rob’s investment team had not yet asked what this extra income was, so he did.

The seller replied that the money was actually Nevada state reimbursements. Since those do not count as actual net income, the seller had incorrectly reported the income report form. Technically, by listing that amount as income, the seller overvalued the property by over $150,000! Yikes!

Because neither Rob’s team nor the broker caught the error initially, this could have added up to huge losses down the line. In the short term, it cost time in the real estate negotiation process. As we all know, time is money. So remember, it is important to have a team of experts helping you, but make sure that you do your research as well. If you are not knowledgeable about investment forms, tax codes, and income reporting, it could cost you big time!

Join Our Community

Do you own multi-family properties? If not, do you aspire to one day? Then you should consider joining our online discussion group, the Addicted To Life Community! Each month, Rob Rowsell will teach you what you must do in order to build wealth in the real estate business. It’s not as easy as it looks! Property taxes, liens, and legal fees can all be hard to navigate, so having a successful guide in your corner like Rob is a must! Enroll today!

8
Feb, 2023

Best Tax Prep Tips from a Successful Entrepreneur

These may be the most important tax prep tips you will ever hear! When you have multiple investments like Rob, including rental properties and businesses in different states, it is so important to meet with your CPA regularly. Rob recommends a service which allows him to meet with his accountant monthly to discuss taxes, investments, and expenses.

Tax Prep Tips for Financial Planning PreparationRob’s Best Tax Prep Tips

You may not like hearing this, but tax season is not just a once per year occurrence. Rob recommends meeting with your CPA at minimum in July and October, as well as in the Spring season.

Things move very fast in Rob’s business pursuits. If he waited until the end of the year to begin tax preparation, he would not remember all the details behind each endeavor. This drives his wife Claudia nuts!

While going through the process of selling their auto repair shops, they were in the midst of moving. They were also buying multiple rental properties in different states at the time! You can see why meeting with their CPA throughout the year would help.

Rob’s CPA offers a monthly meeting option called a CFO program. When they meet each month, they project Rob’s income from his various ventures. They also estimate what he expects to owe at tax time. The most important of Rob’s tax prep tips boils down to this: Stay informed throughout the year, so you a large tax bill doesn’t surprise you next April!

Join Our Community

Do you own multi-family properties? If not, do you aspire to one day? Then you should consider joining our online discussion group, the Addicted To Life Community! Each month, Rob Rowsell will teach you what you must do in order to build wealth in the real estate business. It’s not as easy as it looks! Property taxes, liens, and legal fees can all be hard to navigate, so having a successful guide in your corner like Rob is a must! Enroll today!

1
Feb, 2023

Rob Rowsell’s Morning Spiritual Routine – Bible and Prayer

Rob details his morning spiritual routine. This includes prayer of gratitude, praying for friends, studying the Bible, and listening to worship music. Rob has no doubt that his Christian faith is the main reason he and his wife Claudia have been blessed so much by God. Watch and learn about Rob’s spiritual routine, including his daily spiritual practices.

spiritual routine - Regular Bible devotions are keyRob Outlines His Spiritual Routine

As Rob’s morning coffee is brewing, he slips on his bluetooth headphones. He starts his spiritual routine by listening to his worship music playlist. Hillsong United is a favorite.

Then, he pulls out his prayer list card and scans it. Currently, about four dozen concerns occupy his list. After a prayer of gratitude for all of his blessings, he intercedes for the concerns as the Holy Spirit leads him. He often texts folks who are on his prayer list to check in on their situations.

Next in his spiritual routine, Rob dives into the Word. Lately, he has been studying the Old Testament, since he has never studied it in detail. He is working through a “Read the Bible in a Year” plan now. He also is reading through a book which expands on the stories behind each book of the Bible, such as their authors and the places and times they were written in.

All totaled, Rob spends between one and two hours reading the Bible each morning. This includes journaling about what God is revealing to him during this study time, as well as what is going on in his life at the time. Journaling is a challenge for Rob. However, he does his best to power through and document the date, time, and place he is reading. He hopes that someday after his death, his grandkids will go through his Bible and his journal and learn from them.

Join Our Community

Do you own multi-family properties? If not, do you plan to someday? Then you should consider joining our online discussion group, the Addicted To Life Community! Each month, Rob Rowsell will teach you what you must do in order to build wealth in the real estate business. It’s not as easy as it looks! Property taxes, liens, and legal fees can all be hard to navigate, so having a successful guide in your corner like Rob is a must! Enroll today!

25
Jan, 2023

Calculating Your Blended Tax Rate For Real Estate Investment

How does a successful real estate investor calculate their blended tax rate? Let Addicted to Life’s Rob Rowsell teach you the secret formula so you won’t pay more taxes than you have to!

Blended Tax Rate for Real Estate InvestorsRob Explains Blended Tax Rate For Real Estate Investors

Let’s do the math! Rob lays out a theoretical income amount for the group to consider. On a sample effective annual gross income of $400,000, Rob calculates a blended tax rate of 2%. That may sound small, but it in fact adds up to $8,000.

Jake Garcia asks our host for a clarification. Rob shows his work with a very simple equation. You start with your annual total gross income. Then divided it by all the taxes you paid at the end of the year. When you solve this equation, you will end up with your blended tax rate.

Finally, Rob makes sure to clarify that he does not hate paying taxes to his state and federal governments! Taxes are necessary for the United States to build roads, employ police officers, and provide equipment for the armed forces to defend our freedom.

As any business owner with many investments to look after would tell you, he just does not want to pay more than he actually owes by mistake. That means more cash on hand to invest in his family, his staff, and his eventual retirement goals.

Join Our Community

Do you own multi-family properties? If not, do you aspire to one day? Then you should consider joining our online discussion group, the Addicted To Life Community! Each month, Rob Rowsell will teach you what you must do in order to build wealth in the real estate business. It’s not as easy as it looks! Property taxes, liens, and legal fees can all be hard to navigate, so having a successful guide in your corner like Rob is a must! Enroll today!

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