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00:00I bought this duplex in Los Angeles and did a cash out refinance.
00:04I pulled all of my money out and now I get to own a piece of real estate in Los Angeles for free
00:09and get paid by renting out the other unit to cover my expenses.
00:12So I'm living for free with zero money down.
00:15But multifamily real estate in Los Angeles took such a massive hit these last few years
00:20because LA has gone really downhill and then I'm paying the top tax rates
00:24and paying California tax on my profits.
00:27And I got a 1031 if I want to sell these things.
00:29When I look at the amount of time I've put in these deals,
00:32I would have been better off than just investing in index funds and not dealing with any of the hassle.
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