Leveraging your taxes and real estate investments in smart ways can have huge benefits and result in financial freedom on a whole new level! Joining us to discuss these exact avenues of the business is Larry Pendleton from PC Capital Services, and we get into a great chat about his expertise in the tax realm, before diving a bit deeper into mindset, philosophy, and healthy practices. Larry shares his journey through the real estate world, and how he came to focus on tax as his main offer to clients. He explains some of the basics that new passive investors should get to grips with in order to maximize their returns early on before we delve into 1031 exchanges and why these can be so useful in building a strong portfolio. Larry also unpacks the K1 component and the idea of building up losses for your benefit. Our guest is someone who believes strongly in gratitude and mindfulness exercises, explaining his daily routines around these ideas. Before the end of the episode, we also get to hear about some of the books and people who have influenced him the most, and his very helpful way of depicting the relationship between cash, cash flow, and assets. So for all this and much more, join us on The Real Estate Mindset Podcast today! 

Key Points From This Episode:

  • Larry’s career path, background, and how he got into real estate.  
  • Breaking down the tax numbers for early-stage passive investors going into a deal.
  • Realistic expectations around the K1, and profits and loss on the return. 
  • The recapturing of depreciation; understanding the contract that you have with the government. 
  • How Larry recommends building up passive losses and how these can be utilized.
  • Unpacking the power of the 1031 exchange and how you leverage it. 
  • Components of the 1030 exchange and the need for a higher basis in the new purchase.
  • Larry’s morning routine and his focus on movement, meditation, and his kids’ breakfast!
  • Book recommendations from Larry; the mindset book he likes to re-read.
  • Thoughts on coaching and mentorship and the personal gains that Larry has accrued. 
  • The biggest learning that Larry has had on his real estate journey. 
  • Mindfulness and gratitude tips from Larry, and the importance of how we speak and talk about ourselves!
  • Larry’s approach to creating a relaxed and easy interaction with clients when dealing with their taxes.
  • A great definition of success from Larry looking at how much you can serve people around you.
  • A better understanding of the relationship between cash, cash flow, and assets!

Links Mentioned in Today’s Episode:

Wild Oak Capital

Eric Nelson

Larry Pendleton 

Larry Pendleton on Instagram

Larry Pendleton on LinkedIn

Larry Pendleton Phone Number — 757 535 8592 

PC Financial Services

Multifamily Masters

Who Not How

Gary V