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Video instructions and help with filling out and completing Who Form 5495 Estates

Instructions and Help about Who Form 5495 Estates

Bell is with us in Kansas City. Hidell, how are you Dave? This is a thrill. Thank you so much for taking my call. Certainly. And what is your net worth? Well Dave, I am 53 years old and I can't even believe I'm saying this, but I am worth about 22 million. Goodness gracious, okay, break that down for me. The big numbers, Dave. Ninety-eight percent is probably in real estate. When I was about 22 years old, I started buying income-producing real estate and I've stuck with it. I've learned everything about it and I love it. I'm passionate about it. Every chance I get, I tell friends and family what I've done. So, 20 million dollars is from real estate. What's the other 2 million? My personal house, houses which I guess is real estate, you know, vehicles and that kind of stuff. So, you have retirement accounts of any kind? A very minimal, probably 100 grand and some savings. So, it is truly a pure real estate portfolio. Why, that's pretty cool. And what's your degree in, Dave? I was lucky to get out of high school and graduated in the very bottom on my class. I do have a couple years in junior college. I studied mostly business classes. And what was your GPA in high school? I know it's been 30 some years ago, I have no idea. But no, that's what you're saying. So, I'm guessing when I get to this debt question, you're gonna tell me you did borrow money to create wealth, that you borrowed money on this real estate? Dave, I can tell you when I started out buying real estate, I use creative financing. I'd never have dreamt of buying automobiles or stereos or clothes or vacations with debt....