Welcome back to the newest installment of Power 180- 3 minutes of Housing Literacy that can change your life (sponsored by Powerful Homes). In the game of sports, what's more important to you? A good offense or a good defense? Well in Real Estate, it can be the same. Come learn how the right method can work for you. Stay tuned for next weeks Power 180- 3 part series.
Welcome to the Housing Literacy Podcast with host Matt Guarino, founder of Powerful Homes. Matt's mission is to empower dreams through home ownership. We're here to help. We're going to do this together and now Matt Guarino.
My name is Matt Guarino, and this is Power 180, 3 minutes of housing literacy that can empower your dreams and transform your life. So today's question is awesome, I'm very excited about it. And here it is, what's the best way to win playing offense or defense? So I've been involved in sports my whole life. My kids are heavily involved in sports and I love the sports analogy to life and to business. And I think it just mirrors so many things in life and business because of the unlimited competitors and the different rules and you know, just the styles of play. It's so similar to me. So what is it for you generally and specifically as it relates to resources, your financial resources? Do you like to play offense? Which means putting big points on the board, taking chances, thinking outside of the box, or do you prefer to play a little more safe, keeping the points on the board, by executing more of a defensive strategy, more cautious things and follow the rules.
You know, either one is fine, but what I'm trying to do today is to open your mind to maybe different pathways, to creating more resources in your life and thinking about these two different ways to do it. So our housing literacy tip of the day is that real estate can help you do both play great offense, put points on the board and keep them there. And we always have the receipts. So we're going to give you a quick case study about a participant who's currently in the program just a month ago, bought a two bed, two bath condo in the Denver Metro area. And he played offense, created 15 to 20,000 of equity, big points on the board by buying this property and fixing a few things. He remodeled the kitchen, put a master bath on the second story, a second bathroom. And by doing those things, taking some chances, putting some more cash in the property, he was able to create some great offense and points on the board.
He also played some excellent defense. He got a roommate with the second bedroom, which effectively wiped out his monthly payment. He's using, with his mortgage interest payment, the payment that he makes every month. He's getting to deduct that against the income that he makes this year. So that's playing some good defense. So he's not paying a mortgage payment, he's reducing his taxes. Those are just rules that he's following and executing well. And so he's playing defense and keeping more points on the board.
So I'd love to invite you, to think about how you look at that. It's great to take chances. It's great to think outside the box and try to have a big jolt to your financial resources and your net worth, but it's also great to play great defense and keep those points on the board and real estate can help you do that. So whatever you do, go all in on whatever way you play the game and believe in your wild and crazy dreams and use real estate to help them come true. We got this.
Thank you for listening to another episode of the Housing Literacy podcast. Don't forget to like comment and hit that subscribe button and stay connected with Matt Guarino by visiting www.powerfulhomes.org.