It’s no secret that the outbreak of Covid-19 attracted a slew of new investors eager to try their hand at trading. In fact, according to a Charles Schwab study, 15% of all investors in the US stock market in 2022 began their careers in 2020, spawning what Schwab refers to as the “Investor Generation.”
The pandemic provided potential investors the ideal opportunity to start investing because prices for equities dropped as the market fell, interest rates on savings accounts were cut in half, and many young consumers were left trapped at home with few options. Additionally, now that many brokerage companies allow commission-free trading and accounts with no minimum balance requirements, practically anyone can begin investing, even with a modest sum of money.
Despite being a lucrative means of accumulating wealth, investment requires experience and knowledge to succeed. While gaining experience may take years, there is a quicker way to advance in investing which is by studying the strategies of more seasoned investors, for instance, Mathew Moxness. If you’re familiar with the Canadian real estate market, you may know Mathew as the “king of real estate in Canada”.
Mathew Moxness, who started his real estate career over a decade ago, is known for converting outdated and underperforming assets into multifamily residences throughout Ontario. He is the founder of Crescendo Equity, a real estate company established to invest in sustainable projects that offer long-term positive operating cash flows in the best real estate markets in Canada. Mathew has been featured on HGTV, CHCH, and many other notable home channels for multiple projects. Currently, his portfolio has a nine-figure value and over 700+ unit acquisition pipelines.
During his experience of over ten years in the real estate market, Mathew observed that the most prevalent concern many novice investors complained about was “legal troubles”. The Crescendo Equity Corporation CEO himself didn’t become an investment prodigy without facing his fair share of setbacks and troubles. What enabled him to achieve milestone after milestone in the industry was his timeless mantra that intrinsically focuses on identifying inefficiencies, repositioning assets, and maximizing ultimate cash flow. During our conversation, Mathew shared some insightful advice to help aspiring investors make wise choices when investing and staying out of problems as much as possible.
Hire a CPA for Your Taxes
Over the years, the US tax system has become more intricate than before. According to the Tax Foundation, the number of pages in the tax code increased dramatically during the 1940s, going from a mere few to over 70,000. On the tax liability, even small adjustments here and there could make a big difference. A competent real estate CPA will keep abreast of tax law changes to assist investors in avoiding overpaying taxes or breaching the law. An investor can structure transactions with the assistance of a competent real estate-certified public accountant (CPA) to reduce prospective taxes while maintaining legal compliance.
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Domestic Asset Protection Trusts
The domestic asset protection trust, according to Mathew Moxness, is the most cost-effective asset protection measure offered in the United States. Your assets will be safeguarded by this trust against creditors. With the help of this type of trust, you can shield your current assets from potential creditors so that you can bequeath them to your near and dear ones after you pass away. You might not require the DAP trust if you do not anticipate any future risk from creditors. These trusts, which are established as irrevocable trusts, are permitted in 17 states. Typically, once an irrevocable trust has been established, it cannot be modified or repealed.
Get Property Insurance
Property insurance is a type of property protection coverage that offers financial assistance to the estate owner or tenant in the event of theft, destruction or injuries as a result of an accident on the premise. Having your property insurance ensures that the investor or property owner is compensated for the damages caused at the property without having to file suits.
Always Hire an Asset Protection Lawyer
It can be challenging to put up an asset protection strategy, but you don’t have to do it alone. Mathew Moxness suggests investors hire an asset protection attorney who can identify and outline the asset protection approach that is best for their situation. You must defend your family, your business, and yourself from litigation brought on by your investment properties. Lawyers who focus on asset protection have experience addressing court cases involving real estate.
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Mathew Moxness has undoubtedly guided his real estate company, Crescendo Equity, to success. Under his leadership, the company has acquired assets in several areas across Ontario and continues to expand with every passing day. Follow in the footsteps of Mathew Moxness, and rest assured that success will follow you!
