Interview with Real Estate Investment CPA Noah Rosenfarb

Welcome back to the Passive Mobile Home Park Investing Podcast, hosted by Andrew Keel. On this episode of the Passive Mobile Home Park Investing Podcast, Andrew talks with CPA Noah Rosenfarb. Noah has been studying the tax code his entire life in order to find legal loopholes so he can help people legally reduce or eliminate paying taxes. Not only is Noah a third generation CPA, he also has over twenty years of experience investing in real estate. Today Noah answers questions about tax issues within passive real estate investing, cost segregation, REIT’s, questions we should ask our CPA’s, and about his own 501(c): FIGI.

***Andrew Keel and Keel Team Real Estate Investments (Keel Team, LLC) do not endorse any interviewee. This interview is for informational purposes only and should not be depended upon for investment purposes. ***

Andrew Keel is the owner of Keel Team, LLC, a Top 100 Owner of Manufactured Housing Communities with over 1,400 lots under management. His team currently manages over 20 manufactured housing communities across ten states – AR, GA, IA, IL, IN, MN, NE, OH, PA and TN. His expertise is in turning around under-managed manufactured housing communities by utilizing proven systems to maximize the occupancy while reducing operating costs. He specializes in bringing in homes to fill vacant lots, implementing utility bill back programs, and improving overall management and operating efficiencies, all of which significantly boost the asset value and net operating income of the communities.

Andrew has been featured on some of the Top Podcasts in the manufactured housing space, click here to listen to his most recent interviews: https://www.keelteam.com/podcast-links. In order to successfully implement his management strategy Andrew’s team usually moves on location during the first several months of ownership. Find out more about Andrew's story at AndrewKeel.com.

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Talking Points:

00:18 - Welcome to the Passive Mobile Home Park Investing Podcast

00:30 - Noah Rosenfarb’s background

01:35 - Walking through a sample mobile home park deal

03:35 - Depreciation in real estate

05:10 - Taxable loss and how to carry it over to cover other income

08:15 - 1031 Exchange or 721 exchange

10:05 - Cost segregation

12:00 - Tax advice for new investors to real estate syndications

14:00 - CPA questions before passive investing in mobile home parks

15:50 - REIT investing

19:15 - Tax incentives for out of country companies

23:10 - Noah’s 501(c): FIGI

28:00 - Getting a hold of Noah

28:55 - Conclusion

Links & Mentions from This Episode:

Noah Rosenfarb LinkedIn: https://www.linkedin.com/in/noahrosenfarb/

Syndication Platform: https://investwithfreedom.com/

Freedom Family Office Website: https://freedomfamilyoffice.com/

FIGI Royalty Website: https://www.figiroyalty.com/  

Keel Team's official website: https://www.keelteam.com/   

Andrew Keel's official website: https://www.andrewkeel.com/ 

Andrew Keel LinkedIn: https://www.linkedin.com/in/andrewkeel 

Andrew Keel Facebook page: https://www.facebook.com/PassiveMHPinvestingPodcast

Andrew Keel Instagram page: https://www.instagram.com/passivemhpinvesting/

Twitter: @MHPinvestors

Quotes:

“If my real estate throws off losses, I can offset them against my other active income.” - Noah Rosenfarb

“If your spouse could become a real estate professional, and manage this portfolio that you're building, now you could start to take all those losses and offset your ordinary income.” - Noah Rosenfarb

“Just make sure that you're appropriately sizing your investment to take on additional cost burdens of the accounting compliance.” - Noah Rosenfarb

“People think mobile home park investing, maybe a step off the beaten path.” - Noah Rosenfarb