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Moving Out? Smart (And Eco-Friendly) Ways To Save Money

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You may not live in the greenest city in America, but you have done your part to help the environment.

Maybe you’ve installed smart thermostats, LED lighting, and explained to your tenants how they could save money with smart eco-friendly apps.

You managed to get a recycling dumpster placed in the apartment parking lot. Also, you talked to your neighbors about how they could save energy by keeping windows covered during the heat of the day and by turning the thermostat up in the short summer and down during the longer winter.

Now you have transformed your rental property while helping others do the same.

There are a lot of eco-friendly places to model your rentals after, such as Denver, CO where rent prices are on the rise. Regardless of where you decide to invest, you can focus on keeping the environment clean.

But, now it’s time for YOU to move, either for a new job or just to a new home.

The last thing you want to do is keep everything green at your buildings, then leave a giant carbon footprint anyhow. As you load up all of your stuff on a big truck and move it to your new location, consider doing it in the most eco-friendly fashion..

You want to stay green and eco-friendly, but how can accomplish that during your upcoming move?

Here are some tips:

1. Save The Kitchen Until the End

You of course will need to pack up all of your kitchen supplies, but if you tackle the kitchen first and pack up all of your utensils and plates, you’ll find yourself relying upon plastic and paper disposables.

The lack of a functioning kitchen may also cause to drive to a fast-food restaurant more often and consequently use more environmentally unfriendly throw-away packaging. Save your kitchen packing to the night before you move.

2. Boxes

Yes, cardboard is recyclable, but will your movers actually recycle it properly?

To avoid adding waste, save boxes throughout the year and use them to pack your stuff. That way, you have at least reused used a resource that you already possess, and you won’t have to purchase anything new.

Along the same line, use containers you already have for packing, like suitcases, plastic bins and gym bags. Anything that holds something can be used as a place to pack items.

If you do need to purchase boxes, find used ones or green boxes. These can be cheaper and using these a second or third time is a great eco-friendly thing to do.

3. Packing Materials

You know that Styrofoam is not an environmentally friendly material, and you know that you should avoid using Styro packing peanuts. What are some alternatives? Anything that keeps objects steady and in place can work very well.

Think newspaper, towels, comforters, linens, and even clothing items like blue jeans. If you unfortunately find out that you do need to use some plastic packing materials, do your research and determine which ones are recyclable and find out where to take them in your new city.

4. Skip the Back and Forth

If you are moving a relatively short distance—like 90 miles—you may be tempted to make many trips to avoid using a moving company. You may think that renting a small trailer and taking five days to move will save you money.

Money, maybe, but multiple trips are just not eco-friendly.

Better to get one truck on one day and get the job done.

Even though many people want to try to make the move themselves, take a second and think about the environment and also the time you’ll save by making one large trip – it will pay off in the long run.

Hiring the pros can alleviate big time stress and can make the first trip to your new place much more enjoyable.

5. Get Rid of Stuff

The simplest way to make your move eco-friendlier is to move less stuff. We all have stuff, and many of us have a lot of it.

Our parents may have agonized over the thought of throwing away their 8-track or cassette tapes (!), and if you are an audiophile, maybe you have to think about those plastic crates full of old vinyl records.

Almost everything is available online now as you know and packing up a tiny speaker that plays everything from your phone would be a lot easier than loading up your old tube amplifier, your turntable and those giant Onkyo speaker towers you inherited from your uncle that was addicted to the Dead.

We do realize, however, that this might be a tough one even for strident environmentalists.

Otherwise, just look at everything you are packing and make sure you really need those items. If you don’t, there are a few alternatives. You can donate usable products to homeless shelters. Bet you didn’t know that the number one requested item at homeless facilities is socks!

You can have a garage sale and make some extra money to help with the move. Just be ready to do something with any stuff that doesn’t sell.

And, if you are so motivated, place Craigslist ads for things you don’t want to move like those barbells you never use or even your trusty but older treadmill.

6. Hire the Pros?

If you’re one of the lucky ones who has plenty of time to prepare for an upcoming move, you might want to consider hiring a green moving company.

One of the best ways to make an impact in a positive way on the environment is to use a moving company that does things the right way when it comes to the environment.

A green moving company will use trucks that run on biodiesel instead of normal gas. The company will also implement reusable boxes, so that you do not have to worry about going to the store for more cardboard boxes. These green moving companies might also:

  • Offer complimentary use of their eco-friendly boxes,
  • Collect all non-reusable moving boxes and send them to a recycling center for you
  • Use only biodegradable foam packing peanuts during your move
  • Source their own moving boxes from companies that participate in Sustainable Growth programs
  • And more!

If you search in your area, you’ll likely find a company that has a green moving program. Just simply ask them when you’re filling out a consultation or moving inquiry and you’ll be on your way to an eco-friendlier move in no time.

7. Green Cleaning

Moving means cleaning your new place, but also your old place. There are some things that you can do to clean both places without the use of harmful chemicals that might cost you a fortune.

Items like vinegar, baking soda, and ammonia are old-school cleaning supplies that will make a low impact on the environment when compared to modern cleaning agents that use a ton of chemicals.

Don’t worry; you’ll still be able to get a perfect clean in your place even without the use of the harmful chemicals. Think about it….your grandparents had to clean during moves, too.

They weren’t using chemicals that were harmful to the environment, so why do you have to?

While you can find articles like this one that will help will eco-friendly moving concerns, there may not be as much information available as there is about eco lighting and HVAC issues.

Nevertheless, with some effort and determination, you can be nice to the planet as you move to a new location.

This article originally appeared on IdealREI. Follow them on FacebookInstagram and Twitter.

Real Estate Investing

How to Invest In Real Estate Through Your IRA

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Investing in real estate can be a great way to grow your wealth, but did you know that you can use your IRA to invest in real estate? An IRA (Individual Retirement Account) is an investment account funded with pre-tax dollars and can be used to purchase investments such as stocks, bonds, or even real estate. Here’s what you need to know about using your IRA to invest in real estate. 

Rules & Regulations 

First and foremost, specific rules and regulations must be followed when using an IRA to invest in real estate. You must adhere to IRS guidelines regarding the types of investments allowed and how much you can contribute each year. 

The most important rule is that you cannot use the funds for personal benefit; any money used for personal benefit will be subject to tax penalties. 

Additionally, it’s important to note that the money in your IRA must be invested into a qualified trust company or custodian before it can be used for any investment, including real estate. 

Benefits of Using an IRA To Invest In Real Estate 

One of the major benefits of investing in real estate through an IRA is that all profits from the investment are tax-free until retirement age.

This means any profits gained from rental income or appreciation won’t have to be reported on taxes until you withdraw them at retirement (typically 59 ½ years old). Additionally, since a traditional or Roth IRA allows for up to $5000/year ($6000/year if over 50) contributions without triggering taxes on those amounts, this could provide more capital than if investing with after-tax dollars alone. 

This could give you more buying power when looking for a piece of property and create larger returns down the road with compounding interest. 

Drawbacks of Using an IRA To Invest In Real Estate

There are some drawbacks associated with investing in real estate through an IRA, such as using the money after retirement without incurring taxes and penalties on withdrawals before then.

Additionally, IRAs typically have higher fees than other investments because they require custodians or trustees who charge annual fees for managing the accounts. Also, since IRAs can’t borrow money against their assets or partner with outside investors, acquiring larger properties is challenging due to the limited capital resources available through an IRA account alone.

With proper research and planning, investing in real estate through your IRA may help increase your wealth while avoiding taxes on those profits until retirement age making it a potentially attractive option for many investors who want access to capital without being taxed prematurely.

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Business

How Big Real Estate Moguls Avoid Taxes (And How You Can, Too) 👀

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I was looking around Google for an old article on tax strategies and this five-year old video of myself happened to pop up.

I’m interviewing a tax expert about how real estate investors avoid paying taxes in perpetuity—AND how everyday citizens can do the same thing.

(Real estate—our TEMPLE I and TEMPLE II projects included—has a number of tax benefits savvy investors have capitalized on for years, including Opportunity Zone breaks and 10-year tax abatements.)

There’s the 1031 exchange, of course, which I’ve shared with you guys before. 

Just to refresh your memory, the 1031 Exchange allows you to roll over gains from your last project into a new property TAX FREE—as long as said property is worth the same or more.

But there’s ANOTHER TAX LOOPHOLE that can take your portfolio to an entirely new level by splitting your capital gains into MULTIPLE properties.

So I thought I’d share it with you guys. 💎

You can check it out here.

Let me know what you think. 😎

PS: In our next update, I’m going to break down how real estate moguls get paid from their properties…tax free. 👀
PPS: If you want to learn how to implement generational wealth strategies like this one, you can join our NYCE wealth academy (TRIBE U) here.

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Business

How I run a $300M+ business from the beach…(and how you can TOO!)

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Yes, you read that right.

If there’s anything the pandemic taught us, it’s that the paradigm of “office” and “workspace” has been shaken to its CORE.

Universities are teaching via Zoom, court dates are done virtually, FULLY REMOTE businesses are valued at $1B+, and legitimate Inc. 5000 startups are run from…wherever. 📲

This is my office for the day…

I am actually running our business from the beach, typing this from here.

It’s 4:28 pm CET, which means it’s 10:28 am EST and I am CRUSHING my to-do list.

(And the team will continue to crush it while I’m asleep. That’s the 🗝)

So how did we get here? 

We launched NYCE and our mission to create 100,000 millionaires in March, 2020…just as the global COVID-19 lockdown happened. 😳

As a result, we shut down our main office and set EVERYTHING up to run remotely…

SMOOTHLY! And a system that allows us to outperform competition by 200%. (You can build this system, too. More on this in a second.)

Here’s what we were able to do since then:

  • Gained 6M+ followers across all platforms 📈
  • Add 1500+ new apartments to the portfolio 🤑
  • Grow to $300M in real estate 🚀
  • 105% investor returns 🎉
  • 700K+ community members 🤝

And here’s the best part…

Having team members in all the main time zones gives us a 24-hour work cycle vs. 9-5/eight-hour on-the-clock performance.

This means we get 3x the productivity of a similar company. 🔥

Let me repeat that…3x PRODUCTIVITY vs. our competitors.

Meanwhile our project management software grants us 24-hour TEAM-WIDE connectivity that tracks all tasks and lets us know if productivity dips even a little bit.

There is ALWAYS someone senior awake. It could be Martin in Barcelona…Nat in New York…Vineet & Arif in New Delhi.

All the while giving YOU GUYS wealth hacks and daily content. 🔥

OK, so how can you do it?!

Well, the first step is to have an actual side hustle you’re launching. Not just an idea, a validated business.

MAJOR KEY: Do NOT spend money until you’ve made your FIRST DOLLAR! 🗝🗝🗝🗝

(You can catch a replay Business Launch masterclass here and see TRIBE member Nessa launched her business on the spot and got her first $45K client shortly after.)

One of the easiest ways to start is with Airbnb—you can start that in 10 minutes. Literally. (Here’s a guide if you need it.)

Once you have your business, you build a virtual infrastructure (you really just need two softwares, which are FREE), manage the team accordingly and run the business from there.

I’m gonna put together a step-by-step video breakdown this weekend inside the new TRIBE U on the FIVE key things you need to do this for YOURSELF. 💵 💎

From what software to use, how to build a team, how to keep.

In the meantime, drop a comment if you’re ready to build some wealth and any questions if you want more…

Let’s get to work. 🙌

PS: If you can’t be bothered with video and just wanna get to work, we’re hosting a TRIBE U workshop that will help you get this process started on the spot. It’s $479 $49. 🔥

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