Achieving Financial Freedom Through Real Estate Investing (with Kevin Lao, CFP®)

#Realestateinvesting #Personalfinance #moneyandmortgages

In this interview, Adam Coleman takes a deep dive into the world of real estate investing with Kevin Lau, a Certified Financial Planner and founder of Imagine Financial Security. Kevin shares his journey into the financial industry and personal journey into real estate investing. He discusses essential aspects of real estate investing including audiences best suited for this investment, key tax considerations and common mistakes to avoid. He also advises on the benefits of converting a primary home into a rental property and shares insights about investing in short-term rentals. Moreover, he emphasizes the importance of not following the crowd and doing one's own research in real estate investment.

For more information on Kevin and his firm: https://imaginefinancialsecurity.com/

Couple other helpful links about our conversation:

https://warrenaverett.com/insights/real-estate-professional-tax-status/

https://www.gma-cpa.com/blog/real-estate-investing-passive-vs-active-income

00:15 Introduction

00:47 Journey into Financial Planning

02:33 Personal Experience and Approach to Real Estate Investing

03:10 Diving into Real Estate Investing 04:30 Exploring Different Ways to Invest in Real Estate

06:28 The Role of Real Estate in Building Wealth

06:41 Transitioning from Primary Residence to Rental Property

16:36 Comparing Real Estate Investing with Traditional Investments

20:51 Tax Considerations in Real Estate Investing

25:17 Getting Started in Real Estate Investing

29:12 Avoiding Common Mistakes in Real Estate Investing

31:14 Conclusion and Contact Information

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Disclaimer: The information provided is for general informational purposes only and should not be construed as financial, legal, or tax advice. Always consult with a qualified professional before making any financial, legal, or tax-related decisions.