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Episodes
Here we talk about North Carolina Real Estate, Business, and Life
Episodes
Friday Oct 28, 2022
Friday Oct 28, 2022
Location. Location. Location. Here we talk about North Carolina Real Estate, Business, and Life.
Anytime you consider real estate, location is a top priority. What makes a house a "home"? Everyone wants to live in a great community. Today we find out from Zach Ollis - Town Manager of the Town of Tryon, North Carolina - what makes Tryon a great place to be.
Small town with convenient access to many of the surrounding major cities. That is what Tryon can offer. With amenities like the International Equestrian Facility, Harmon Field, Lake Lanier, and several vineyards; you can choose to sit and enjoy the views of the beautiful Blue Ridge Mountains or spend time adventuring.
Affordable living and a diverse community made up of those living full time in Tryon as well as the many that pass through for vacationing and even several families who spend part of their year living in Tryon - development continues to grow and with it, the annual budget for the Town of Tryon.
A community with a strong foundation and unlimited potential for its future.
Resources
Town of Tryon: https://tryon-nc.com/
Tryon International Equestrian Center: https://tryon.com/
Lake Lanier: https://www.discoverlakelanier.com/
Q&As
When are Property Taxes due in North Carolina?
Why are interest rates adjusting so frequently?
When I buy a property, do I have to get a survey?
Chapters
00:00 - 03:08: Intro
03:08 - 05:58: Guest Introduction (Zach Ollis - Town of Tryon, NC - Town Manager)
05:58 - 09:26: What is it like living in Tryon, North Carolina?
09:26 - 12:33: Equestrian Community in Tryon
12:33 - 14:06: Vineyards Throughout Tryon
14:06 - 16:22: Lake Lanier
16:22 - 19:39: Wastewater Treatment & Capacity for Development
19:39 - 22:05: Second Home Market in Tryon
22:05 - 25:57: Town of Tryon Budget
25:57 - 30:52: Property & Sales Tax in Tryon
30:52 - 34:34: Personnel Costs for Tryon
34:34 - 41:29: 2022 - 2023 Budget (Cap Ex, Police Department, Assets)
41:29 - 46:55: American Rescue Plan & Cares ACT Funds
46:55 - 50:03: Harmon Field Fund
50:03 - 51:49: Other Tryon NC Amenities & Things to do in Town
51:49 - 55:20: Geographic Advantage for Tryon and Outro w/ Zach
55:20 - 57:55: Q&A1 - When are property taxes due in North Carolina?
57:55 - 01:01:58: Q&A2 - Why are interest rates adjusting so frequently?
01:01:58 - 01:05:37: Q&A3 - Do I need to get a survey when I buy a property?
01:05:37 - 01:06:21 - Outro & Wrap Up w/ Justin
Friday Oct 28, 2022
Friday Oct 28, 2022
Have you purchased your first investment property? What are the tax strategies you plan to use? Have you considered Cost Segregation? If you are thinking of investing in Real Estate, you will need some tools and resources to help you succeed.
The IRS (Internal Revenue Service) Tax Code contains many sections dealing with Real Estate. Changes based on the Tax Cuts and Jobs Act have pumped certain Real Estate concepts, such as Depreciation, Cost Segregation, and Bonus Depreciation, to new levels.
Those with Real Estate Professional Status can take advantage of these changes. How long will Bonus Depreciation remain accelerated? Is it a good think to use Cost Segregation if you are going to be selling the real estate property in a short amount of time? What is the process for obtaining a Cost Segregation study? All that and more as Justin Ckezepis of Today's Real Talk sits down with Yonah Weiss to discuss Cost Segregation in Real Estate.
References
Yonah Weiss: https://www.yonahweiss.com/
Tax Cut and Jobs Act: https://www.govinfo.gov/content/pkg/BILLS-115hr1enr/pdf/BILLS-115hr1enr.pdf
IRS Tax Cuts and Jobs Act - Comparison for Businesses: https://www.irs.gov/newsroom/tax-cuts-and-jobs-act-a-comparison-for-businesses
IRS Cost Segregation Audit Techniques Guide: https://www.irs.gov/businesses/cost-segregation-audit-techniques-guide-chapter-1-introduction
Today's Real Talk: https://www.TodaysRealTalk.com
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Chapters
0:00 - 3:33: Talking w/Justin Today
3:33 - 7:17: Intro w/ Yonah Weiss
7:17 - 16:57: Top Terms in Cost Segregation
16:57 - 19:49: Real Estate Professional Status
19:49 - 23:38: Breaking Down Financials in a Cost Segregation Analysis
23:38 - 25:34: Ground Up Development vs. Value Add Property
25:34 - 28:18: The Cons of Doing Cost Segregation
28:18 - 31:51: What is Depreciation Recapture?
31:51 - 33:51: 1031 Exchanges and Off-Setting Gains & Losses with a Lazy 1031 Exchange
33:51 - 34:57: The Important of Real Estate Teams
34:57 - 36:34: Who currently uses Cost Segregation?
36:34 - 38:34: The Short Term Rental Loophole
38:34 - 41:20: The Future of the Real Estate Market and Cost Segregation
41:20 - 43:51: Adoption of Cost Segregation in the Marketplace
43:51 - 44:33: Outro w/ Yonah
44:33 - 47:31: Q&A #1: What is the future of the Real Estate Market in North Carolina?
47:31 - 49:04: Q&A #2: What type of taxes do I pay when earning $ in real estate?
49:04 - 53:15: Q&A #3: When are you financially prepared to buy a home?
53:15 - 54:04: Wrap Up & Outro
Tuesday Sep 27, 2022
Tuesday Sep 27, 2022
How do I win at real estate? Cash flow.
In North Carolina, and across the entire world, everyone needs a place to live. People want a place to work and do business. Those who own the properties where people live and do business are the ones who collect cash flow and are winners.
It is also important to learn important Real Estate terms and definitions. Cap Rate. Cash on Cash Return. IRR. Terms that you commonly hear and must be able to understand if you are going to invest in Real Estate. Justin walks you through each of these terms today.
Multifamily Real Estate is popular. Many investors want to be in multifamily real estate because of the potential cash flow (whether passive or active) from the property. Do all counties, cities, and towns, like multifamily? Are all the financials related to multifamily investing true? Dante Belmonte of Victory Capital Group talks with Justin Ckezepis about multifamily real estate investing.
During Justin's Q&A Real Estate Session he answers these questions:
What is a good deal in Real Estate?
Do you think rents will go up or down over the next few years?
How did Justin get started in Real Estate?
Ready to learn about investing in multifamily real estate? Listen now.
Chapters
00:00 - 5:33 - Talking w/ Justin Today
05:33 - 10:14 - Common Real Estate Terms & Definitions
10:14 - 11:48 - Victory Capital Group
11:48 - 18:19 - Investing in North Carolina
18:19 - 26:02 - Analyzing Real Estate Deals
26:02 - 29:37 - Common LOI & Contract Terms
29:37 - 32:05 - Common Objections
32:05 - 39:15 - Funding Real Estate Deals
39:15 - 42:10 - North Carolina Markets
42:10 - 50:15 - Pitch Deck & Working w/Investors
50:15 - 54:14 - Property Management Companies & Other Expenses
54:14 - 56:44 - Wrap Up w/ Victory Capital Group
Tuesday Sep 27, 2022
Tuesday Sep 27, 2022
If you live anywhere in North Carolina, you’ve probably noticed that growth is happening at a rapid rate. While all of this economic growth and development is a positive thing, it must be managed carefully to reduce growing pains.
As the North Carolina real estate market continues to boom, you need to know what’s going on and hear from the people who live near you, so you have a say. Now more than ever, it’s important that we are good local stewards of the land and make choices that empower the community as a whole 5, 10, or even 20 years down the road.
On this episode, we welcomed Joel Gillie, the Public Affairs Director for Wayne County, North Carolina, to talk about this tremendous growth happening in Wayne County and throughout the rest of the state, as well as some of the challenges that come with it. We discuss the current comprehensive development plan for the 2022-2023 fiscal year and how the budget is affecting certain projects and developments.
Some of the issues we go over in this episode include the current public transportation system, like the existing bus system and the I-42 corridor, and how to grow transportation infrastructure in a way that benefits the population but doesn’t impede on businesses. We also talk about how to balance development while still prioritizing farmers, the future of Wayne County, specific development projects (like broadband internet connectivity), how to adjust public services in the wake of problems like the national fuel shortage, and other pertinent issues to a developing area.
Joel Gillie, Public Affairs Director for Wayne County, NC and Justin Ckezepis Talk About Development and the Challenges of Rapid Growth on Our Show
Monday Feb 14, 2022
Monday Feb 14, 2022
You need money to start a business. But as a small business owner, you only have so much funding to get started. This is where small business loans come in, and our latest episode, we go over what you need to know about getting a loan from the Small Business Administration with Mike Arriola.
Arriola originally started as the SBA officer for the Asheville area and eventually became the District Director for the entire state of North Carolina. Today, he oversees the SBA operations for over 900,000 small businesses throughout the state.
In this episode, we go over what exactly an SBA loan is, specifically the 7(a) guaranty process, why lenders decide to offer these loans, and why you should consider getting one of these loans if you’re trying to get your small business off the ground. We also go over some of the other tools and resources the SBA has for small business owners on top of their loan programs.
The SBA has resources that can help small business owners at any phase of their business’ lifecycle. Give this episode a listen if you’re thinking of or currently involved in starting a small business, and make sure to check back soon to see when our next episode goes live.
Thursday Jan 06, 2022
Thursday Jan 06, 2022
How high can home prices continue to rise? What will the real estate market look like over the next twelve months?
Meet Dr. Yongqiang Chu, Director of the Childress Klein Center for Real Estate. What does the real estate market look like going forward into 2022? Will real estate prices go down? What’s causing the increased demand for real estate?
We answer these questions and others related to the current state of real estate in our most recent podcast.
In this episode, we’re joined by Dr. Yongqiang Chu, the Director of the Childress Klein Center for Real Estate. Dr. Chu is originally from China, and he came to the U.S. to complete his PhD at the University of Wisconsin-Madison. His career initially involved teaching finance, but today, his career is research-based, and he is currently working on several papers, one specifically about mortgage lending discrimination in today’s market.
We cover how the recent pandemic increased the demand for real estate throughout the country, but mainly here in the Charlotte, North Carolina area. Dr. Chu also makes a few predictions about interest rates and where real estate prices will head in a post-pandemic world. Other topics covered include what will solve current supply and demand issues and how these will affect local concerns about population and housing density.
Don’t miss this latest episode of Today’s Real Talk if you’re intrigued by real estate economics and have questions about housing and the real estate market for the upcoming year.
Thursday Jan 06, 2022
Thursday Jan 06, 2022
The Foreign Investment in Real Property Tax Act of 1980 (FIRPTA) is a congressional act that was passed because foreigners were selling property in the U.S. and not paying taxes or capital gains taxes on the sales. Richard’s goal is to simplify the FIRPTA process as much as possible and raise awareness about transactions dealing with foreign nationals.
Because foreign nationals are not subject to U.S. tax laws, FIRPTA requires buyers to withhold a percentage of the property sale to pay to the IRS – not taking this withholding following a transaction can result in an IRS penalty of 5% of the transaction’s value per month for up to 5 months.
Originally, this withholding amount was set at 10%, but during the Obama administration, the rate was changed to 15% under the Debt Reduction Act. The goal of raising this rate was to ensure there were sufficient funds to pay outstanding taxes on any transaction that occurred involving a foreign seller.
We go into further detail about what FIRPTA is and how it affects both buyers and sellers involved in the U.S. real estate market in this episode. Make sure you give it a listen, especially if you’re involved in real estate, and check back soon to see when our next episode goes live.
Friday Nov 05, 2021
Friday Nov 05, 2021
Many people want to invest in real estate, and one of the reasons why they want to do this is because they think it’s easy. Although this is true to some extent, real estate investing is only easy when you have the right partners to help you out.
When you invest in real estate, access to capital will always be a necessity. On our latest episode of Today’s Real Talk, we are joined by Patrick Prunty and Stephanie Miller from Marshall Reddick Real Estate. This real estate investment firm is based out of California but takes deals all over the country.
One of the things that sets this investment firm apart is their transparency. They want investors to feel confident in their loans, and Marshall Reddick Real Estate funds out-of-the-box loans and deals that may not be a good fit for an institutional lender.
This investment firm is also an asset-based lender, so they fund deals with high loan-to-value ratios. All they do before agreeing to fund a deal is verify the value of the property instead of verifying your income. They’re not afraid to loan to anyone, and they also have their own real estate investors passively looking to invest in the deals they fund.
Real estate investing can be intimidating, but you must be willing to take the plunge. Learn more about this nontraditional approach to investing, especially if you are an investor yourself, and another side of the investment market in this episode.
Thursday Aug 05, 2021
Thursday Aug 05, 2021
The pandemic sped up the demand for online real estate closings, but are they really safe and credible?
Electronic Notarization and Notary Enforcement Director at the NC Department of the Secretary of State, Ozie Stallworth, and Real Estate Attorney, Justin Ckezepis unpack the questions around real estate fraud prevention, pandemic closings, and e-closing changes!
On Today’s Real Talk, hosted by Justin Ckezepis, we go over hot topics in today’s real estate market, but we don’t just talk about the problems – we also introduce solutions.
Thursday Aug 05, 2021
Thursday Aug 05, 2021
Are there really any affordable health care plans outside of Obama Care in 2021?
This is one question nearly all individuals and businesses, ranging from real estate brokers to seasoned entrepreneurs, ask today.
In Episode Four of Today's Real Talk, Justin goes over this important healthcare and wealth planning topic with The Retirement Wealth Coach® Steven Crawford.
This can make securing health insurance incredibly expensive for individuals and business owners alike.
You can learn more about these solutions at http://www.figwealthadvisors.com.