Ep. 146 | How to Minimize Tax Impact and Win as a Mobile Home Park Owner

In today’s episode, we will be having a conversation with Gerard O’Sullivan. Gerard O'Sullivan  is a successful businessman and a mobile home park investor and operator. He has been investing actively and passively in multifamily for 20 years and just recently got into mobile home parks for 2 years. He learned that while the depreciation on multifamily assets is good, the depreciation on mobile home parks is even better.

 

Gerard joins Ferd to share insights about: (1) the amount of commitment, time and effort there is in being a business owner; (2) how taxes can become a primary driver in business; (3) how real estate can be used as a tax strategy; and (4) how he was able to maximize his finances in the MHP space.

 

Highlights of the episode:

00:00:39 Guest Intro: Gerard O’Sullivan

00:01:24 Background of the Guest

00:02:20 Getting Into Business in Your Early Twenties

00:04:45 Real Estate Space

00:05:38 Tax as Maturity Driver

00:08:02 Beginning of Multifamily World 

00:08:32 How to Take Advantage of Bonus Depreciation

00:14:19 Tax Code in the IRS

00:18:42 Cost Segregation

00:21:30 Learning New Spaces and Gathering New Experiences

00:38:51 Balance Between Work and Family

 

Connecting with the Guest:

Website: https://spindriftcapitalpartners.com/ 

Contact: 516-445-2974

 

Connecting with MHP Law:   

Website: https://themobilehomelawyer.com/

Facebook: https://www.facebook.com/The-Mobile-Home-Park-Lawyer-103814958118069

LinkedIn: https://www.linkedin.com/in/themhplawyer-ferdniemann6923147/

Instagram: https://www.instagram.com/themhplawyer

 

#powerintaxes

#mobilehomeparks

#realestate