Published: 2022-09-15
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The speaker claims they figured out a method to get paid to meet YouTubers and celebrities, which they have been doing for the past two weeks.
"I'm going to explain to you in less than an hour how you can get paid to meet Mr Beast or any of these YouTube celebrities because that's exactly what I did over the past two weeks"
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The speaker encourages the audience to start various businesses, including vending machines, laundromats, car washes, and real estate ventures like buying apartments, trailers, storage lockers, tiny homes, Airbnbs, and fixing up existing apartment complexes.
"I really want you guys to start your vending machine business your laundromat business your car wash business your real estate business I want you to buy Apartments I want to buy uh trailers I want you to buy storage lockers I want you to build tiny homes I want you to build airbnbs I want you to do new development apartment complexes I want you to buy dumpy apartment complexes and fix them up"
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The cost of attending the Vid Summit conference ($1500) is tax-deductible if one owns a business.
"the 1500 is tax deductible if you have a business"
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It's possible to make money by attending conferences if structured correctly, through various activities.
"if you structure it right you can make money at a conference by doing a whole gigantic number of things and then you'll make money off of it"
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Driving for business purposes, such as attending conferences or operating a vending machine business, allows for a tax deduction of 62.5 cents per mile.
"if you drive to a conference or you drive anywhere for your business hint hint vending machine business you will get a tax credit a tax deduction of 62.5 cents per mile"
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There are significant solar tax credits and federal grants available for businesses that install solar panels, allowing them to write off the cost and receive additional benefits.
"there's all these solar tax credits I talked to a guy that's currently acquiring businesses just for solar tax credits because he's got a play where he can put solar panels on the roof of a business he can not only write that amount off but he gets so much in federal tax credits and Federal Tax Grants"
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One individual is using solar tax credits as the primary method to acquire businesses.
"he's using solar tax credits almost exclusively to buy businesses"
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The government offers tax credits for green energy, solar initiatives, and even for driving for business purposes, all aimed at stimulating the economy.
"there's tax credits for green energy there's tax edits for credits for solar there's tax credits for freaking getting in your car and driving because the government wants to stimulate the economy"
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A business must be profitable for at least three years to qualify for tax credits; otherwise, it may be considered a hobby and the credits cannot be claimed.
"if you have a business that's not profitable for three years and you kind of dig yourself into spending way more than you make it's considered a hobby and you can't really write those tax credits off"
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Businesses can deduct expenses such as cameras, computers, and microphones.
"you can write off cameras you could write off your computers you could write off your microphones"
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Laptops purchased for business use, even if also used for personal activities like gaming, can be written off as tax deductions.
"I just bought a nice laptop could be one I say nice laptop computer um about a two thousand dollar uh Hewlett Packard laptop for 400 bucks off eBay recently is a corporate lease trade-in... but because I own a business I can write off my taxes"
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Individuals involved in the streaming business can deduct the cost of games as business expenses.
"if you've streamed got into the streaming business you could write games off your taxes"
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Various accessories and items, including AirPods, phones, batteries, SD cards, money counters, mice, and microphones, can be deducted as business expenses.
"I can write airpods off my taxes... my this is my second s20 wrote it off my taxes just grab a random crap off my taxes or sorry I'm random crap on my thing on my desk batteries SD cards off my taxes money counter off my taxes mouse off my taxes microphone"
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The speaker's first business was a paintball equipment repair service, started with his brother to fund their expensive hobby.
"it was a paintball business... my brother and I were pretty pretty poor growing up and we wanted to play the sport of paintball which is very expensive and we wanted to find a way that we could support playing paintball so what we did was we learned to fix people's paintball equipment"
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The speaker shares examples of profitable flips from yard sales, including vintage steamer trunks and a Kirby vacuum, with significant markups on resale.
"I found these old steamer trucks from the 1920s I paid 15 bucks a piece resells 150 I bought a Kirby vacuum for 100 bucks... another guitar it's not here... I bought it for 150 bucks resells 300."
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The speaker purchased a specialized tech item (a security system NAS) for $1 at a yard sale, which was listed for sale for nearly $3,000.
"I bought this for a dollar at a yard sale... two thousand nine hundred and forty four dollars for this silly thing I bought at a yard sale for buck"
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House hacking, which involves buying a large house or small multi-family property and living in it while renting out other units, is presented as an accessible entry into real estate, with the government potentially financing 96.5% of the acquisition cost.
"house hacking is probably the easiest way to get into real estate you buy a large house or a small multi-family and the government will give you 96.5 of the money you need to acquire that property you need three and a half percent down"
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The speaker ranks real estate as the top business to get into due to its ease of entry, followed by car washes.
"if you can only choose one business what would I be real estate rentals laundromat Car Wash something else it real estate number one because it's just so easy to get into number two be Car Wash"
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A car wash business with a recurring income model (subscriptions) can cover all operational costs, with individual car wash payments being pure profit.
"talking to guy right now he's in contract I think on a car wash with that does recurring income if I'm not getting my comp my um messages confused the person that I was talking to said the money that comes in from subscription pays every single Bill all the staff anybody that comes to the car wash is pure profit"
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The speaker's initial step into real estate was obtaining a real estate license at age 21, which exposed them to wealthy individuals for the first time.
"my first move to get you where it was now I got my real estate license is 21. getting my real estate license put me around rich people for the first time in my life"
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The speaker's stock investing strategy involves only individual investments in Tesla and Apple, with all other investments placed in VO and VTI for stability.
"I do Tesla and apple and that's it for individual Stock Investing Everything else is in vo and vti because it's super super stable as far as I'm concerned"
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A family member's vending machine company was sold for seven million dollars after operating from 1974 to 2018.
"your uncle owned a vending machine company from 74 to 18 he sold to larger conglomerate for seven million dollars with assets"
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The co-founder of Teachable.com sold the company for $250 million.
"I talked to the co-founder of teachable.com at the conference that I got paid to attend and um he they sold teachable for 250 million dollars"
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Attracting investors is not the secret; investors will actively seek out opportunities, with the speaker receiving dozens of calls weekly.
"investors will flock to you they will talk to you every day of the week I get dozens of investors every week calling me"
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The key to attracting investors lies in the ability to evaluate and locate valuable businesses or real estate, understand the business math, and effectively present the investment opportunity.
"it's all about can you evaluate businesses can you locate businesses or real estate or opportunities do you understand how the math and the business Works can you show that it's a valuable investment and can you shop that investment down to a investor"
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The speaker plans to analyze a laundromat deal for a coaching client in Austin, Texas, covering all operational details.
"we're going to go to tearing down a laundromat deal for one of my coaching clients in Austin Texas and we're just going to go over all the nuts and bolts of a laundromat in Austin Texas"
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