We Don’t Control Anything Because We Don’t Own Anything

It still amazes me that people like Donald Trump can say what they want and do what they want without a care in the world. I guess part of it comes from the fact that they don’t have to answer to anyone.

It is even more amazing that someone with such a high income pays no taxes.

At first glance, it seems appalling that Donald Trump pays no taxes when most people make significantly less money or may just be getting by while still having to pay a fair share of taxes.

But after reading some books and studying wealth builders, I realized that wealthy people are not doing anything wrong…they are simply doing what the government wants people to do.

The Government Rewards Entrepreneurs and Real Estate Investors

You see, the government is set up to reward entrepreneurs and real estate investors through tax breaks…

The problem is that most of us were not taught the game…so I’ll break it down in a simple manner for you here.

The government wants to do a couple things:

  • Create jobs
  • Provide affordable housing (unless you live in San Fran or NYC…then you’re screwed)

The people that create the most jobs and provide the most affordable housing are entrepreneurs and real estate investors.

They also tend to be people that have financial freedom since they are their own bosses.

As a result, the government gives entrepreneurs tax breaks to encourage job creation and it gives real estate investors tax breaks to encourage housing…

Really, wealth building can be just that simple. Create or partner with small businesses and invest in real estate.

Become a Super Tax Payer

Stop getting caught up with only having a 401k because with a 401k you do not have control over your money until you retire, you don’t know what the tax rates will be when you retire (most likely they will be higher) and you don’t know what your income will be when you retire.

Financial Institutions want you to assume that you will be making less, but why would you want to work all your life to be making less money and struggling in retirement?

That is why you should focus on permanent tax reduction which starts with finding tax breaks now and not pushing taxes off into the future.

You need to start thinking about becoming a super tax payer.

The Wealth Building Formula

You can start small and in your free time if you work a 9-5 job. Start thinking about any passions or marketable skills that may work for a new business. Also, start to think about what types of investing you may enjoy…

After that, take a course, find a mentor, build a team, and take action.

Start businesses, invest in real estate, reduce your taxable income, spend less than you make…that’s the formula! It is just that simple.

Well…for some people, maybe it is not that simple. Many people may not know how to plan for a business or how to invest in real estate. On the other hand, a large burden for many people is coming up with a down-payment for a house…

If a downpayment is your biggest hurdle to purchasing a property, then just do what I did…

How to Use NACA to Buy Your First House

I bought my first house using a program called NACA where you do not have to come up with a down-payment. You just have to pay the real estate taxes and insurance for the house….

Yes, that’s it.

There really is no catch besides the fact that the people they have working at NACA can be difficult to deal with and are not necessarily as sharp as I would like them to be.

It is a frustrating process working with NACA with lots of highs and lows…mostly lows as you are going through the process. But in the end, there is nothing available that can beat their program.

Their interest rates are lower than you will normally get and the mortgages you get are from major banks. They use Citibank and Bank of America depending on the region you are in.

The crazy thing is I had money for a small down-payment and could qualify for a mortgage at any bank, but was still able to use NACA to get a better deal.

What’s even crazier is that I was able to completely redo the house and wrap the renovation costs inside my low interest, 30-year fixed mortgage without any money out of my pocket for construction….

On top of that, I bought down my already low interest rate some and the bank matched my contribution, dollar for dollar for points.

I got a crazy deal and that property became my first rental property once I moved out and it is  still bringing in great monthly cashflow.

Now if you are one of those people that feel you don’t know enough to evaluate real estate or know where to start, Dr. Boyce Watkins put together a simple course that you can use to get started.

Wealth Building Toolkit

The Black Wealth Building Bootcamp (https://goo.gl/ZjCs3M) includes information on investing, starting a business, licensing your ideas, protecting your business, and more.

Dr. Boyce Watkins also has other classes that talk about real estate investing.

That brings me to another beauty of real estate as well…leverage. Usually the money you come out of pocket with to purchase a house is a lot less than the price of the home and there are not many investments where this is possible.

Your Success Has An Impact On Those Around You

Once you start to own businesses and real estate, you build wealth and become financially free. You no longer rely solely on a company for a job and you have the benefit of making better decisions.

This is why I created the Black Health and Wealth website.

All you need is a plan and to work that plan over time (this is a long-term plan, not overnight success).

Then, after you become free, you are able to set up your family for generations.

Not to mention, your great work is going to create jobs for people of color and also revitalize housing in our communities which is great for everyone.

I hope this information was helpful. Be sure to reply to this email and let me know what else would be helpful to you. Also, let me know if you have any questions.

Here is a link to the Black Wealth Bootcamp (https://goo.gl/ZjCs3M)

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