Ep.19: Decoding Real Estate: Lessons From John Tripolsky

Ready to navigate the choppy waters of real estate investment with some invaluable advice from a seasoned professional? Tune in as we are joined by marketing and brand developer turned real estate maestro, John Tripolsky. We dive right into John's fascinating journey, beginning with his real estate initiation - a downtown Charleston condo purchase made possible through owner financing. John shares how a business networking group introduced him to owner financing and how this first dip into the property market sparked a passion for real estate.

As we move through this illuminating conversation, John opens up about the difficulties of managing long-term tenancies and properties from afar. He shares an eye-opening account of dealing with an untrustworthy tenant and why that experience prompted him to switch to short-term tenancies. His insight is a treasure trove of wisdom for landlords, offering practical tips to sidestep potential pitfalls in tenant management. We also get to pick John's brain on contractor dealings, where he highlights the importance of knowing the history of your property and understanding the necessary repair work to make informed decisions.

In the final segment of our chat, we delve deeper into the world of real estate investment and tax flow. John outlines the criteria to identify passive and non-passive activities and what it takes to qualify as a real estate professional. He discusses the benefits of being a real estate professional and how passive activity losses can offset W-2 income. We also learn about his new ventures - "Teaching Tax Flow" and the "Monthly Recurring Revenue Institute", where like-minded professionals can gain valuable insights. If you've ever pondered over cash flow versus appreciation in real estate investment, John's perspective is a must-hear. Buckle up for an informative journey into real estate investment and beyond with John Tripolsky. Let's get started!

(0:00:00) - Real Estate Hacking and Finding Mentors
(0:10:32) - Tenant Challenges and Short-Term Rental Preference
(0:20:46) - Tips for Working With Contractors
(0:32:28) - Real Estate Investor Passive Activity Loss
(0:43:13) - Favorite Books, Real Estate Investment
(0:49:05) - Invite Guests to Defeating Taxes Group

About John Tripolsky

John Tripolsky is an experienced marketer and brand developer currently residing in the Ann Arbor, MI area. Having operated a nationwide digital marketing agency for over a de directly with clients from SMB to INC 500, his passion is deeply rooted in creative and proven marketing tactics. He is a founding team member of Teaching Tax Flow and the Mo Institute. John is also the co-host of “Teaching Tax Flow: The Podcast” and the “Mr. R Show,” which can be heard across all main podcasting platforms

https://www.linkedin.com/in/jtripolsky
 
Real Estate Investing, Owner Financing, Long-Term Tenancies, Short-Term Tenancies, Contractors, Passive Activity Loss, W-2 Income, Tax Flow, Monthly Recurring Revenue Institute, Mastermind Groups, Cash Flow, Appreciation, Facebook Group, Defeating Taxes

@hackingrepod