Ep. 19 The Secret to Paying $0 in Taxes through Short-Term Rentals with Jon Davis

  In this episode of From Corporate to Cashflow, Andrea Cannon and Liz Schwab sit down with Jon Davis to discuss all things short-term rentals and how they can be used to legally eliminate your income taxes, even as a full-time corporate employee.   Jon is the Vice President of Investor Relations for Elk Ridge Investments which specializes in short-term rentals. But before he joined Elk Ridge, he got his NMLS license and became a mortgage loan originator which introduced him to the world of real estate. He flipped a house with his wife, brother and best friend in their home town four or five years ago. Then learned about creative finance and short term rentals. He wanted his wife to quit her job and he wanted to leave his. All during this time, he was a full time police officer in the city of Brentwood, CA. Jon and his wife started an STR business by arbitraging houses and managing for others. They quickly grew to 11 houses in their home town. It was a great start, but he wanted to own. After watching Pace Morby and Jerry Norton videos, he started making calls for creative deals. In the first week of calls, he created a deal for a house in Indiana right next to Notre Dame. He found a capital partner and funded the deal with the partner's money and his eyes were opened. From there, he joined Elk Ridge and made the jump to combine our STR business with theirs. Now he raises capital for their deals with the niche of the STR loophole. At Elk Ridge, they bring on capital partners in deals that are going to be STRs so that the partners can take the depreciation to offset their non-passive income. He has talked with close to 100 tax advisors, CPAs, and other professionals all about this world of passive vs non-passive income and learned how STRs offset W2 income, business income, ETC. Elk Ridge gets a cost segregation on every property to maximize bonus depreciation. If the partner materially participates under the guidance of IRS tax code 469, the investment becomes non-passive. It allows them to invest in real estate, grow their wealth, and save huge on taxes.   If you want to connect with Jon about this strategy, book a call directly on his calendar here: https://links.elkridgeinvestments.us/widget/bookings/fromcorporatetocashflow    Follow me on Instagram: https://www.instagram.com/theandreacannon  Subscribe to my YouTube Channel: https://www.youtube.com/@TheAndreaCannon