Elevate with Tyler Chesser - The Real Estate Podcast for Investing, Mindset and Personal Development E269 Dave Zook - Transform Your Investments and Create More Value By Challenging Conventional Thinking
Must we always challenge conventional thinking? If you believe that everything can be improved, then, we must say yes to challenging conventional thinking. Because change is happening all around us all the time, we cannot always accept long-held conventions as infallible and always effective. At the very least, accepting conventional thinking and practices without question stifles creativity, innovation, and progress. This goes in other areas of our lives including our finances and investments.
Seasoned real estate investor and alternative investment syndicator-operator Dave Zook of The Real Asset Investor joins us today to spur us to think and question conventional wisdom in investing so we can transform our investments and create more value. Discover how investing in other real assets and alternative investments helps not only in diversifying portfolios but in reducing tax liabilities as well. Gain a new perspective on capital raising as well as insights on the current market and economic environment while identifying areas where you can force more value. Find out how Dave took his half-million dollars tax liability to zero in a year. Stirred your curiosity? Tune in now!
Key Points from This Episode:
- Dave introduces himself and shares his family background and how he started in business.
- Why Dave considers tax liabilities as conventional practices that can be challenged
- How Dave took his tax liability from a half million dollars a year to zero by using the tax code to his advantage
- How investing in other real assets and alternative investments helps reduce tax liabilities
- How the government rewards investors who add value to people and society
- What asset classes does Dave invest in to create value for society and diversify portfolio?
- How Dave helps income earners and investors assess their options for tax strategy and advantages
- Dave’s strategy for finding opportunities in various real assets
- What advice will Dave give to his younger self at the period when he started raising capital in syndication?
- Dave shares his perspective and some lessons learned through years of capital raising.
- Dave emphasizes the importance of adopting the mindset of always challenging conventional wisdom in order to find innovative and more efficient ways of doing things and getting new outcomes.
- Dave’s outlook on the current market and economic environment
- Dave’s advice for investors to consider margins in their investments by identifying areas where they can force value
- What does Dave consider as the biggest opportunities in the next recession?
- What books have made the most impact on Dave?
- What's the biggest way that Dave elevates his life on a daily basis?
- What’s the biggest way that Dave elevates others around him?
- Parting words of wisdom from Dave Zook
Tweetables:
"You can be conventional or you can be wealthy, pick one." - Dave Zook
"If you want to change your tax, you've got to change your facts. You've got to change the way that you're doing business and the way that you're investing." - Tom Wheelwright
“The idea that I could make a lot of money but control my own tax liability never occurred to me till just over a decade ago. And when I realized that it was in my control to reduce my tax liability, everything changed.” - Dave Zook
“If you want to be patriotic, do what the government wants you to do, and pay zero tax.” - Dave Zook
“When you add value to people, when you add value to society, the government rewards you for that.” - Dave Zook
“Go to market, add value, deliver a lot of value to a lot of people. That’s your fastest way to success (in syndication).”- Dave Zook
“Just a simple phrase of, "hey, you know what, it seems like this deal is not the best fit for you" can be one of the most powerful investments into a relationship that pays massive dividends down the line.” - Tyler Chesser
“Thinking long term is the difference between hunting and farming. A hunter goes out and catches or kills something and he gets enough to eat for the day. A farmer crops the soil, plants, and eventually, that bears fruit for a long, long time.” - Dave Zook
“Business is about relationships. If you've got to think long term, you've got to do what's best for your investor.” - Dave Zook
“Real success and real wealth is being able to build relationships and being able to take care of your body. If you don't feel good, nothing else matters.” - Dave Zook
“Success without fulfillment is the ultimate failure.” - Tyler Chesser
Links Mentioned
Cashflow Quadrant by Robert Kiyosaki
Rich Dad, Poor Dad by Robert Kiyosaki
The Compound Effect by Darren Hardy
Who Not How by Dan Sullivan and Benjamin Hardy
About Dave Zook
Dave Zook, founder and CEO of The Real Asset Investor, is a successful business owner and an experienced real estate investor active in multifamily apartments, self-storage, and the ATM space. Dave has acquired more than $100 million worth of real estate since 2010 and together with his investors own approximately 3000 multifamily apartment units. Dave is a renowned and trusted professional resource in the Automatic Teller Machine (ATM) investment market where he and his business partner have deployed more than $90 million of investor and personal capital.
As a #1 best-selling author and popular guest speaker, Dave has shared his knowledge at international business conferences and popular podcast shows. Dave, his wife Susan, and their 4 children live in Lancaster County, PA.
---------------
Are you a real estate investor looking to elevate your income, freedom & lifestyle? If so, optimize your daily performance by downloading our free guide, Raising the Bar - 5 Steps to Elevate Your Habits, at elevatepod.com.
In this guide, created by your host Tyler Chesser, you’ll learn why you do what you do, how to easily institute cues in your environment to trigger desired behavior, directly applicable steps to create a fulfilling future and much more. Get your free copy at elevatepod.com and kick-start your new habits today. Your future self will thank you!
This episode of Elevate is brought to you by CF Capital, a national real estate investment firm. CF Capital’s mission is to provide property investment and asset management solutions to help investors like you maximize their returns by investing in high-value multifamily communities.
If you are looking for risk-adjusted alternative investments in quality apartment communities, and are seeking tax optimized cash flow with appreciation upside without all the hassle of management, you might benefit from learning more about investing alongside our team. You’re invited to reach out and learn how you can invest with us by visiting cfcapllc.com.
We’re also currently offering a free ebook called The Bottom Line - 10 Ways to Increase Cash Flow in an Apartment Complex. Whether you’re a new or an experienced investor, we’re confident you’ll find massive value in this resource. Get your free copy today at cfcapllc.com.