Building Passive Income

Wayne Courreges III & CREI Collin
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Welcome to the Building Passive Income podcast with your host, Wayne Courreges III. From serving as a U.S. Marine to becoming a successful real estate investor and founder of CREI Partners, Wayne shares his journey and the lessons learned along the way. Each episode offers valuable insights into building wealth through real estate, with a focus on helping passive investors make informed, confident decisions. Whether you're new to real estate or looking to deepen your knowledge, this podcast is your go-to resource for education, strategy, and inspiration on your path to financial freedom.

  1. Episode 23: The Anatomy Of A Syndication Deal – From Acquisition To Exit

    3D AGO

    Episode 23: The Anatomy Of A Syndication Deal – From Acquisition To Exit

    Welcome to Building Passive Income with CREI Collin Ever wonder what happens behind the scenes from the moment you invest to the day you receive your exit proceeds? CREI Collin walks through the entire lifecycle of a syndication deal—all six phases from acquisition to exit. Learn what the sponsor is doing at each stage, what can go wrong, and how to evaluate deals at every phase. What You'll Learn The six phases of every syndication deal lifecycle How sponsors source and underwrite deals before you ever see them The due diligence and financing process (30-90 days) What happens at closing and how your money is deployed The stabilization phase: where execution risk shows up Cash flow and hold period management The exit and disposition process What can go wrong at each phase and how to evaluate progress Key Topics Covered Phase 1: Deal Sourcing and Underwriting – Building the financial model Phase 2: Due Diligence and Financing – Validating assumptions and securing capital Phase 3: Acquisition and Closing – Officially becoming a limited partner Phase 4: Stabilization and Value-Add Execution – Where execution risk is highest Phase 5: Cash Flow and Hold Period – Operations and distributions Phase 6: Exit and Disposition – Timing the sale and returning capital Timestamps [00:00] Introduction: From investment to exit [02:00] Phase 1: Deal Sourcing and Underwriting [04:30] Phase 2: Due Diligence and Financing [07:00] Phase 3: Acquisition and Closing [08:30] Phase 4: Stabilization and Value-Add Execution [11:00] Phase 5: Cash Flow and Hold Period [13:00] Phase 6: Exit and Disposition [14:30] What can go wrong at each phase [15:45] How to evaluate deals at each phase Key Takeaways Sponsors analyze dozens of deals and only move forward with the best ones Due diligence often takes 30-90 days and validates all underwriting assumptions Earnest money is often refundable during diligence, may become hard after Phase Four (stabilization) is where execution risk shows up the most Commercial real estate is often valued primarily off income, with comps influencing pricing Hold periods typically last 3-7 years, but exit timing depends on market conditions Great sponsors communicate transparently and adapt when challenges arise Resources Mentioned Syndication lifecycle infographic Episode 21: How to Read a PPM Episode 22: Understanding Your Investor Rights Episode 24: Types of Real Estate Syndications CREI Partners deal updates and transparency: CREIPartners.com Schedule a consultation: Let's Talk Action Step Pull up the investor updates from one of your current syndication investments. Identify which phase the deal is in right now. Evaluate how the sponsor is executing based on the original business plan. Are they on track? Are they communicating transparently? If not, reach out and ask questions. Disclaimer This podcast is for educational and informational purposes only and should not be construed as investment, tax, or legal advice. Always consult with your CPA, attorney, and financial advisor before making any investment decisions. Call to Action Rea... Chapters (00:00:01) - Building Passive Income(00:01:26) - The Life Cycle of a Real Estate Syndicate(00:02:38) - How To Acquire a Commercial Property: The Process(00:08:58) - What Is Syndication Risk?(00:09:44) - The Real Estate Syndication Life Cycle(00:11:25) - Building Passive Income

    12 min
  2. Episode 22: Understanding Your Investor Rights – What Can You Control As A Limited Partner?

    4D AGO

    Episode 22: Understanding Your Investor Rights – What Can You Control As A Limited Partner?

    Welcome to Building Passive Income with CREI Collin What rights do you actually have when you invest in a real estate syndication? CREI Collin breaks down the legal protections, information rights, voting rights, and fiduciary duties that safeguard your investment as a limited partner. Learn what you can control, what you can't control, and how to protect your rights before things go wrong. What You'll Learn The fundamental trade-off: passivity for simplicity Where your rights are defined (PPM and Operating Agreement) Your information rights: updates, financials, and transparency Your economic rights: distributions and profit participation Your voting rights: when you get a say in major decisions Fiduciary duties sponsors may owe (and how they're limited) What you cannot control as a limited partner Red flags that signal your rights may be at risk Key Topics Covered Operating Agreement: The legal document that defines your rights Information Rights: Financial statements, K-1s, and investor updates Economic Rights: Cash flow distributions and sale proceeds Voting Rights: Major amendments, GP removal, and exit timing Fiduciary Duties: Duty of care and duty of loyalty (and limitations) What You Can't Control: Day-to-day operations, forced sales, illiquidity Red Flags: Stopped communication, missed distributions, undisclosed conflicts Timestamps [00:00] Introduction: Giving up control doesn't mean no rights [02:00] The fundamental trade-off of passive investing [03:30] Where your rights are defined [05:00] Information rights: Your right to know [07:30] Economic rights: Your right to get paid [09:45] Voting rights: When you get a say [11:30] Fiduciary duties: The sponsor's obligations [13:00] What you cannot control [14:15] Red flags to watch for [15:30] How to protect your rights proactively Key Takeaways Read the Operating Agreement—it defines all your legal rights as an LP Many agreements require regular updates and K-1s, but specifics vary by deal Distributions depend on available cash and operating agreement terms Material changes typically require LP approval, often by majority or supermajority Depending on state and agreement, sponsors may owe fiduciary duties (often limited) You generally cannot force a sale or control day-to-day operations Watch for red flags: stopped communication, unexplained missed distributions Resources Mentioned Operating Agreement review checklist Episode 21: How to Read a PPM Episode 23: Anatomy of a Syndication Deal CREI Partners investor resources: CREIPartners.com Schedule a consultation: Let's Talk Action Step Pull out the Operating Agreement from one of your current syndication investments. Read the sections on LP rights, information requirements, voting thresholds, and fiduciary duties. Make sure you understand what you can and can't control. If you have questions, reach out to the sponsor for clarification. Disclaimer This podcast is for educational and informational purposes only and should not be construed as investment, tax, or legal advice. Always consult with your CPA, attorney, and financi... Chapters (00:00:01) - Building Passive Income(00:01:26) - What Rights Do You Have In Real Estate Syndication?(00:02:42) - What Is Syndication Investing?(00:03:50) - Limited Partners' Rights in Syndications(00:04:54) - What are the Limited Partner Information Rights?(00:06:10) - Real Estate Distributions: What Are LPs' Rights?(00:07:21) - Third category of rights is voting rights. Limited partners do not have voting rights(00:08:37) - Fiduciary Duties of a Sponsor(00:09:53) - Limited Partners: What You Can Control(00:10:37) - Know Your Limited Partnerships in Real Estate Syndication(00:12:54) - Building Passive Income

    14 min
  3. Episode 21: How to Read A Private Placement Memorandum (PPM)

    5D AGO

    Episode 21: How to Read A Private Placement Memorandum (PPM)

    Welcome to Building Passive Income with CREI Collin Learn how to thoroughly read and analyze a Private Placement Memorandum (PPM)—the single most important document in any syndication deal. CREI Collin walks you through a detailed 7-step process to review PPMs like a pro, covering everything from executive summaries to sponsor backgrounds. This episode ensures you invest with confidence and never sign a PPM blindly again. What You'll Learn Why the PPM is the "blueprint" of every syndication deal The 7-step process for reading a PPM in 2-3 hours How to identify red flags in risk factors and legal disclosures Understanding investment structure, preferred returns, and profit splits How to evaluate the business plan and financial projections What to look for in sponsor track records and experience The most important questions to ask before investing Key Topics Covered Executive Summary: Quick overview of the deal structure and terms Risk Factors: Legal disclosures you must read carefully Investment Structure: Understanding equity, debt, waterfalls, and fees Business Plan: Evaluating the sponsor's strategy and execution timeline Financial Projections: Analyzing conservative vs. aggressive underwriting Sponsor Background: Vetting track record, experience, and alignment Asking Questions: How to hold sponsors accountable during due diligence Timestamps [00:00] Introduction: Why the PPM matters [02:15] Step 1: Executive Summary [04:30] Step 2: Risk Factors (the most important section) [07:45] Step 3: Investment Structure and Terms [10:00] Step 4: Business Plan and Strategy [11:30] Step 5: Financial Projections and Assumptions [13:00] Step 6: Sponsor Background and Track Record [14:15] Step 7: Asking the Right Questions [15:30] Recap and Action Steps Key Takeaways The PPM is the legal document that governs your investment—read every page Risk factors are required SEC disclosures that reveal potential deal-killers Investment structure defines how you get paid and when Conservative underwriting is more important than aggressive projections Sponsor track record and experience are your best indicators of success Always ask questions during due diligence—passive doesn't mean blind If a sponsor won't answer your questions or provide documentation, walk away Resources Mentioned Private Placement Memorandum (PPM) template and checklist CREI Partners Due Diligence Checklist: CREIPartners.com Episode 22: Understanding Your Investor Rights Schedule a consultation: Let's Talk Action Step Pull out the PPM from one of your current syndication investments (or a deal you're considering). Read through it using the 7-step process outlined in this episode. Highlight sections that are unclear, and reach out to the sponsor with specific questions. Investing passively doesn't mean investing blindly. Disclaimer This podcast is for educational and informational purposes only and should not be construed as investment, tax, or legal advice. Always consult with your CPA, attorney, and financial advisor before making any investment decisions. Past performance is not indicative of future results. Chapters (00:00:01) - Building Passive Income(00:01:26) - The Secret to Reading Real Estate Deal Documents(00:02:38) - What is a PPM and Why it exists?(00:03:55) - What's In A PPM?(00:07:43) - 5 Things To Know Before Reading The PM(00:09:14) - Always Read the PPM Before Investing

    11 min
  4. Episode 20: Understanding Your K-1 Part 2 - What To Do After You Receive It

    JAN 30

    Episode 20: Understanding Your K-1 Part 2 - What To Do After You Receive It

    Welcome to Building Passive Income with CREI Collin and Tax Pro Tina You received your K-1. Now what? In this episode, CREI Collin and Tax Pro Tina walk you through your post-K-1 action plan: when to expect K-1s, how to review them for accuracy, how to organize multiple K-1s, when to send them to your CPA, how to handle amended or late K-1s, and how to track your passive loss carryforwards. This is the follow-up to Episode 12—and it's essential listening for every passive investor. What You'll Learn: When to expect your K-1s (typical timeline and potential delays) What to do when you receive your first K-1 (5-step review checklist) How to organize multiple K-1s (digital folders + tracking spreadsheet) When and how to send K-1s to your CPA (best practices) How to handle amended K-1s and late K-1s (extensions and Form 1040-X) How to track your passive loss carryforwards year over year Why your passive loss carryforward is your "tax shield" (and how to use it strategically) Common K-1 mistakes and how to avoid them Important Timestamps: [0:00] Introduction: You got your K-1—now what? [1:00] Tina Returns: Why this episode is essential [2:00] Q1: When should investors expect to receive their K-1s? [3:30] A1: K-1 timeline and what causes delays [5:00] Q2: What should I do when I receive my first K-1? [6:00] A2: K-1 review checklist (5 steps) [8:30] Q3: How do I organize multiple K-1s? [9:30] A3: Digital folder system + tracking spreadsheet [11:30] Q4: When should I send my K-1s to my CPA? [12:30] A4: Best practices for working with your CPA [14:30] Q5: What if I receive an amended or late K-1? [15:30] A5: How to handle amended/late K-1s and extensions [18:00] Q6: How do I track my passive loss carryforwards? [19:00] A6: Tracking your "tax shield" with a simple spreadsheet [21:30] Recap and Action Steps Key Takeaways: ✅ Expect K-1s by mid-March (some sponsors file extensions until September 15th) ✅ Review each K-1 for accuracy: verify personal info, compare to prior year, look for red flags ✅ Organize multiple K-1s with digital folders and a tracking spreadsheet ✅ Wait until you have ALL K-1s before sending to your CPA (send by mid-March if possible) ✅ Amended/late K-1s happen—contact your CPA immediately and file extension if needed ✅ Track your passive loss carryforwards annually—this is your "tax shield" ✅ Update your tracking spreadsheet every year and review with your CPA Resources Mentioned: Free Passive Investor Coaching Program: passiveinvestorcoaching.com CREI Partners: CREIPartners.com Email: invest@CREIPartners.com Disclaimer: This podcast is for educational purposes only and does not constitute tax, legal, or investment advice. Always consult with your CPA, attorney, and financial advisor before making any tax or investment decisions. #PassiveIncome #RealEstateInvesting #K1 #TaxStrategy #PassiveLosses #WealthBuilding #FinancialFreedom #PassiveInvestor #CommercialRealEstate #TaxPlanning #CPAAdvice Ready to Build Your Tax-Efficient Passive Income Strategy? Let's discuss how to organize your K-1s and maximize your tax benefits. Schedule your free 30-minute consultation: Let's Talk Chapters (00:00:01) - Building Passive Income(00:02:12) - Your First K1(00:02:56) - When Should Investors Expect to Get Their K1s?(00:04:18) - The K1 Review Checklist(00:07:44) - Should I Send My K1s to My CPA?(00:11:05) - How to Track Passive Loss Carveforwards(00:12:31) - How To Track Your Passive Losses & K1s

    15 min
  5. Episode 19: Red Flags in Syndication Deals - What to Avoid Before You Invest

    JAN 29

    Episode 19: Red Flags in Syndication Deals - What to Avoid Before You Invest

    Welcome to Building Passive Income with CREI Collin Not all syndication deals are created equal. In this solo episode, CREI Collin teaches you how to spot red flags before you invest—from sponsor warning signs to deal structure pitfalls to documentation issues. Learn what to watch out for, what questions to ask, and when to walk away. Your job as a passive investor is to protect your capital, and this episode gives you the tools to do it. What You'll Learn: Why due diligence on sponsors is your #1 job as a passive investor Sponsor red flags: Lack of track record, poor communication, misaligned incentives Deal structure red flags: No preferred return, excessive fees, over-leverage Market red flags: Declining fundamentals, oversupply, landlord-unfriendly laws Documentation red flags: Missing PPM, vague financials, no cost segregation study Behavioral red flags: Pressure tactics, unrealistic projections, lack of transparency How to trust your gut (and when to walk away) What questions to ask sponsors during due diligence How to balance caution with opportunity Important Timestamps: [0:00] Introduction: Why red flags matter (and why most investors ignore them) [1:30] Category 1: Sponsor Red Flags [3:00] Lack of track record or verifiable experience [4:00] Poor or inconsistent communication [5:00] Misaligned incentives (low GP investment, back-loaded promote) [6:30] Category 2: Deal Structure Red Flags [7:00] No preferred return (or non-cumulative pref) [8:00] Excessive fees and sponsor compensation [9:00] Over-leverage (75-80%+ LTV is a caution flag) [10:30] Category 3: Market Red Flags [11:00] Declining population or job growth [12:00] Oversupply in the market [13:00] Landlord-unfriendly laws or rent control [14:00] Category 4: Documentation Red Flags [15:00] Missing or incomplete PPM [16:00] Vague financials or underwriting assumptions [17:00] No cost segregation study or depreciation schedule [18:00] Category 5: Behavioral Red Flags [19:00] Pressure tactics or "limited time" urgency [20:00] Unrealistic return projections [21:00] Lack of transparency or evasive answers [22:00] How to Trust Your Gut (and when to walk away) [23:30] Recap and Action Steps Key Takeaways: ✅ Sponsor due diligence is your #1 priority—track record, communication, alignment ✅ A cumulative preferred return (typically 8%) is non-negotiable ✅ Excessive fees, over-leverage (75-80%+ LTV), and misaligned incentives are caution flags ✅ Declining market fundamentals and oversupply are warning signs ✅ Missing or vague documentation (PPM, financials) is a deal-breaker ✅ Pressure tactics, unrealistic projections, and evasive answers = walk away ✅ Trust your gut—if something feels off, don't invest Resources Mentioned: Free Passive Investor Coaching Program: passiveinvestorcoaching.com CREI Partners: CREIPartners.com Email: invest@CREIPartners.com Disclaimer: This podcast is for educational purposes only and does not constitute investment advice. Always conduct your own due diligence and consult with your financial advisor before making any investment decisions. #PassiveIncome #RealEstateInvesting #DueDiligence #RedFlags #Syndication #WealthBuilding #FinancialFreedom #P... Chapters (00:00:01) - Building Passive Income(00:01:25) - The Red Flags of Syndication Deals(00:02:05) - Sponsors: Red Flags(00:04:44) - Red Flag 5(00:07:23) - 3 Red Flags(00:09:59) - 3 Financing Red Flags To Watch(00:11:57) - What To Watch Out For In Real Estate Financing Documents(00:14:03) - Red Flags in Commercial Real Estate

    18 min
  6. Episode 18: Qualified Opportunity Zones (QOZs) - Eliminating Capital Gains Taxes

    JAN 28

    Episode 18: Qualified Opportunity Zones (QOZs) - Eliminating Capital Gains Taxes

    Welcome to Building Passive Income with CREI Collin What if you could eliminate capital gains taxes entirely? In this solo episode, CREI Collin breaks down Qualified Opportunity Zones (QOZs)—the powerful tax incentive that allows you to defer, reduce, and potentially eliminate capital gains by investing in designated economically distressed communities. Learn the strict timelines, hold period requirements, and strategic considerations for this advanced tax strategy. What You'll Learn: What Qualified Opportunity Zones (QOZs) are and how they were created The three tax benefits: deferral, reduction, and elimination of capital gains The strict 180-day investment timeline after realizing a gain How the 10-year hold period unlocks tax-free appreciation The 5-year and 7-year step-up bonuses (and why they matter) How to invest in QOZs through Qualified Opportunity Funds (QOFs) Common QOZ mistakes and pitfalls Strategic considerations: When QOZs make sense (and when they don't) How QOZs compare to 1031 Exchanges Important Timestamps: [0:00] Introduction: The most powerful tax incentive you've never heard of [1:30] What are Qualified Opportunity Zones? [3:00] The Three Tax Benefits: Deferral, Reduction, Elimination [5:00] The 180-Day Timeline: When the clock starts [6:30] The 10-Year Hold Period: How to eliminate capital gains entirely [8:00] The 5-Year and 7-Year Step-Up Bonuses [9:30] How to Invest: Qualified Opportunity Funds (QOFs) [11:00] Common QOZ Mistakes (and how to avoid them) [13:00] Strategic Considerations: When QOZs Make Sense [14:30] QOZs vs. 1031 Exchanges: Key Differences [16:00] Recap and Action Steps Key Takeaways: ✅ QOZs allow you to defer, reduce, and eliminate capital gains taxes ✅ You have 180 days from realizing a gain to invest in a QOF ✅ Hold for 10 years to eliminate all taxes on appreciation ✅ 5-year hold = 10% step-up; 7-year hold = 15% step-up (on original gain) ✅ QOZs are high-risk, high-reward investments in economically distressed areas ✅ Not for everyone—requires long hold period and tolerance for risk ✅ Always consult your CPA and attorney before investing in QOZs Resources Mentioned: Free Passive Investor Coaching Program: passiveinvestorcoaching.com CREI Partners: CREIPartners.com Email: invest@CREIPartners.com Disclaimer: This podcast is for educational purposes only and does not constitute tax, legal, or investment advice. Always consult with your CPA, attorney, and financial advisor before making any investment or tax decisions. #PassiveIncome #RealEstateInvesting #QOZ #QualifiedOpportunityZones #TaxStrategy #CapitalGains #WealthBuilding #FinancialFreedom #PassiveInvestor #CommercialRealEstate #TaxElimination Ready to Explore Advanced Tax Strategies? Let's discuss whether QOZs fit into your investment plan. Schedule your free 30-minute consultation: Let's Talk Chapters (00:00:01) - Building Passive Income(00:01:25) - Qualified Opportunity Zones: The Tax Break(00:08:51) - QOZ Investing: The Risks and How to Avoid(00:11:59) - QOZ Investment: What is it and Do I Need to(00:13:43) - Building Passive Income

    15 min
  7. Episode 17: The 1031 Exchange - Deferring Taxes on Syndication Exits

    JAN 27

    Episode 17: The 1031 Exchange - Deferring Taxes on Syndication Exits

    Welcome to Building Passive Income with CREI Collin Facing a big capital gains tax bill on a syndication exit? There's a better way. In this solo episode, CREI Collin walks you through the 1031 Exchange—the IRS-approved strategy that allows you to defer capital gains taxes by reinvesting your proceeds into another property. Learn the strict timelines, common mistakes, and how to "swap till you drop" to build generational wealth. What You'll Learn: What a 1031 Exchange is and how it defers capital gains taxes The strict 45-day identification and 180-day closing deadlines Why you need a Qualified Intermediary (and how to choose one) The "like-kind" property requirement for real estate How to 1031 from one syndication into another Common 1031 mistakes that disqualify your exchange The "swap till you drop" strategy for generational wealth How 1031 Exchanges interact with depreciation recapture Strategic considerations: When a 1031 makes sense (and when it doesn't) Important Timestamps: [0:00] Introduction: The power of tax deferral [1:30] What is a 1031 Exchange? [3:00] How 1031 Exchanges defer capital gains and depreciation recapture [4:30] The Strict Timelines: 45 days and 180 days [6:00] What is a Qualified Intermediary (and why you need one) [7:30] The "Like-Kind" Property Requirement [9:00] Can you 1031 from one syndication into another? Yes! [10:30] Common 1031 Mistakes (and how to avoid them) [12:00] The "Swap Till You Drop" Strategy [13:30] How 1031s interact with depreciation recapture [15:00] When a 1031 Makes Sense (and when it doesn't) [16:30] Recap and Action Steps Key Takeaways: ✅ 1031 Exchanges defer capital gains and depreciation recapture taxes ✅ You have 45 days to identify replacement property and 180 days to close ✅ You must use a Qualified Intermediary—you cannot touch the proceeds ✅ You can 1031 from one syndication into another (if structured correctly) ✅ Common mistakes: Missing deadlines, touching the money, wrong property type ✅ "Swap till you drop" allows you to defer taxes for life and pass assets to heirs with a step-up in basis ✅ Always work with a CPA and attorney experienced in 1031 Exchanges Resources Mentioned: Free Passive Investor Coaching Program: passiveinvestorcoaching.com CREI Partners: CREIPartners.com Email: invest@CREIPartners.com Disclaimer: This podcast is for educational purposes only and does not constitute tax, legal, or investment advice. Always consult with your CPA, attorney, and financial advisor before making any investment or tax decisions. #PassiveIncome #RealEstateInvesting #1031Exchange #TaxStrategy #CapitalGains #WealthBuilding #FinancialFreedom #PassiveInvestor #CommercialRealEstate #TaxDeferral #GenerationalWealth Ready to Build Your Tax-Efficient Exit Strategy? Let's discuss how 1031 Exchanges fit into your investment plan. Schedule your free 30-minute consultation: Let's Talk Chapters (00:00:01) - Building Passive Income(00:01:25) - The 1031 Exchange(00:05:22) - Can I Use a 1031 Exchange When I Exit a Syndication(00:07:42) - Delaware Statutory Trusts(00:09:23) - Real Estate Cash Flow Strategy(00:10:26) - 3 Common Mistakes Investors Make With 1031 Exchanges(00:11:55) - 1031 Exchange(00:14:09) - Building Passive Income

    15 min
  8. Episode 16: Real Estate Professional Status (REPS)

    JAN 26

    Episode 16: Real Estate Professional Status (REPS)

    Welcome to Building Passive Income with CREI Collin Think real estate depreciation can only offset passive income? Think again. In this episode, CREI Collin breaks down Real Estate Professional Status (REPS)—the IRS designation that allows you to use passive real estate losses to offset your W-2 income, business income, and other active income. Learn the strict requirements, common mistakes, audit risks, and whether REPS is right for you. What You'll Learn: What Real Estate Professional Status (REPS) is and how it works The two tests you must pass: 750-hour test and "more than half" test How REPS unlocks suspended passive losses to offset active income The $25,000 allowance for non-REPS investors (and its phase-out) Material participation requirements for each property Why contemporaneous time logs are critical (and how to keep them) Common REPS mistakes and audit red flags Strategic considerations: Is REPS worth it for you? How REPS fits into long-term tax planning Important Timestamps: [0:00] Introduction: The power of REPS for high-income earners [1:15] What is Real Estate Professional Status? [2:30] How most passive investors use depreciation (passive income only) [3:45] How REPS changes the game (offset W-2 and active income) [5:00] The Two Tests: 750-Hour Test and "More Than Half" Test [7:00] Material Participation: The 7 tests you need to know [9:30] Contemporaneous Time Logs: What the IRS requires [11:00] The $25,000 Allowance for Non-REPS Investors [12:30] Common REPS Mistakes (and how to avoid them) [14:00] Audit Risk: What triggers IRS scrutiny [15:30] Is REPS Right for You? Strategic considerations [17:00] How REPS Fits Into Long-Term Tax Planning [18:30] Recap and Action Steps Key Takeaways: ✅ REPS allows you to offset W-2 and active income with real estate losses ✅ You must pass two tests: 750+ hours in real estate + more than half your working time ✅ Material participation is required for each property (7 tests available) ✅ Contemporaneous time logs are mandatory—start tracking today ✅ Non-REPS investors get a $25,000 allowance (phase-out starts at $100K AGI) ✅ REPS comes with audit risk—documentation is everything ✅ Consult your CPA before pursuing REPS Resources Mentioned: Free Passive Investor Coaching Program: passiveinvestorcoaching.com CREI Partners: CREIPartners.com Email: invest@CREIPartners.com Disclaimer: This podcast is for educational purposes only and does not constitute tax, legal, or investment advice. Always consult with your CPA, attorney, and financial advisor before making any investment or tax decisions. #PassiveIncome #RealEstateInvesting #REPS #TaxStrategy #Depreciation #WealthBuilding #FinancialFreedom #PassiveInvestor #CommercialRealEstate #TaxPlanning #HighIncomeEarners Ready to Build Your Tax-Efficient Passive Income Strategy? Let's discuss how real estate investing fits into your financial plan. Schedule your free 30-minute consultation: Let's Talk Chapters (00:00:01) - Building Passive Income(00:01:35) - Real Estate Professional Status(00:10:09) - The IRS has seven tests for material participation. You only need to meet one(00:13:02) - Real Estate Passive Income: Building a Tax-efficient portfolio(00:15:10) - Building Passive Income

    16 min
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Ratings & Reviews

5
out of 5
2 Ratings

About

Welcome to the Building Passive Income podcast with your host, Wayne Courreges III. From serving as a U.S. Marine to becoming a successful real estate investor and founder of CREI Partners, Wayne shares his journey and the lessons learned along the way. Each episode offers valuable insights into building wealth through real estate, with a focus on helping passive investors make informed, confident decisions. Whether you're new to real estate or looking to deepen your knowledge, this podcast is your go-to resource for education, strategy, and inspiration on your path to financial freedom.

Information

  • Creator
    Wayne Courreges III & CREI Collin
  • Years Active
    2025 - 2026
  • Episodes
    39
  • Rating
    Clean
  • Copyright
    © 2025 CREI Partners
  • Show Website
    Building Passive Income