Sugey Piedra, tax professional and co-founder of Prominence Business & Wealth Management, recently shared insights on achieving long-term wealth through real estate investing on an episode of The Conference Room podcast. The episode delved into Sugey’s expert strategies for leveraging real estate as a powerful tool for wealth building.
In the podcast, Sugey breaks down the complexities of real estate investment and tax planning, offering listeners six pivotal tips for anyone looking to start or enhance their journey into real estate investing. The full conversation can be accessed here.
In this episode, Sugey shares the following key insights:
- The importance of having your finances well-prepared before diving into the real estate market
- How smart tax planning boosts purchasing power
- The value of starting small and leveraging connections
“There are many tax strategies that we can put into play during the calendar year to help you mitigate tax and control it instead of letting it drive you,” Sugey explained.
She also stressed the importance of balancing the goals of minimizing tax liability and maintaining purchasing power. “Smart taxes mean you pay taxes with the purpose of acquiring something else,” Sugey stated.
Sugey continued the conversation by sharing how to make real estate investing more approachable by exploring properties in different states. Sugey shared, “Sometimes, people realize that all they need is a down payment of $20,000 in Tennessee when they originally thought they would need a down payment of $200,000 to buy a property in California. All of a sudden, acquiring real estate becomes a much more achievable goal.”
To listen to Sugey’s appearance on The Conference Room podcast, visit https://podcasts.apple.com/us/podcast/ep-123-how-to-build-long-term-wealth-with-sugey-piedra/id1517671682?i=1000629908144
About Sugey Piedra
As an enrolled agent and 20+ year certified tax preparer, Sugey Piedra likes to make her clients’ money work for them so that they don’t have to work forever.
In her daily work as co-founder of Prominence Business & Wealth Management, Sugey supports high-earning, service-based business owners to achieve long-term wealth through a holistic approach to financial services, providing bookkeeping, tax preparation, financial planning, and tax strategy under one roof.
Together with her two sisters/co-founders, Sugey runs the business and also hosts and produces Tax Talk with HeyHey Podcast, where they provide insights into business taxes, wealth building, and what it means to really create financial freedom. Besides her own show, Sugey has also been featured on Sell Without Selling.
When she’s not helping service-based business owners grow their income, Sugey enjoys traveling, horseback riding, and working on her own growth mindset.