Today on the Passive Investment Through Multi-family Real Estate Podcast we are joined by Damion Lupo! Damion has a long history in entrepreneurship and he is here to talk about the new CARES Act and how it might affect the foreseeable future for real estate investors. Damion does a sterling job of explaining the particulars of the act and what it means right now, leading into the rest of the calendar year. Although the reasons for the act might be apparent in the current crisis, Damion is skeptical of its long term benefits, foreseeing a damaging effect on the dollar and the American economy in general. We discuss what the CARES Act allows individuals to do, in terms of withdrawals and repayments and what this means for taxation. The stimulus packages that have already been implemented have relieved the finances of many businesses but how far can this strategy legitimately be stretched? Damion does not believe very much further, without some very negative results. All that being said it pays to be in the know with regards to what this all means to your money and that is where Damion’s great expertise comes into play! For all of this and a whole more in a critical time for yours and everyone else's investments, be sure to listen in!
Key Points From This Episode:
- Damion’s entrepreneurial history and his current focus on breaking financial shackles.
- Some background on the CARES Act and how it affects investors and syndicators.
- Limits on withdrawals and timeframes under the new regulations.
- The tax implication for the CARES Act and some interesting available strategies.
- Unwise spending and making the most of the positive opportunities that are presented.
- The likely long term effects of the CARES Act on the American economy and dollar.
- Universal basic income and the current stimulus packages that are being released.
- What the shortage of precious metals available for purchases shows.
- The huge changes that are likely on the way and the sectors that will be hit hardest.
- Damion's reliance on his critical judgment going into deals.
- The biggest lesson that Damion has learned in real estate around awareness and foresight.
- Why Damion wants to spend more time around bald people!
Links Mentioned in Today’s Episode: