In today’s episode, we will be having a conversation with Gerard O’Sullivan. Gerard O’Sullivan is a successful businessman and a mobile home park investor and operator. He has been investing actively and passively in multifamily for 20 years and just recently got into mobile home parks for 2 years. He learned that while the depreciation on multifamily assets is good, the depreciation on mobile home parks is even better.
Gerard joins Ferd to share insights about: (1) the amount of commitment, time and effort there is in being a business owner; (2) how taxes can become a primary driver in business; (3) how real estate can be used as a tax strategy; and (4) how he was able to maximize his finances in the MHP space.
Highlights of the episode:
00:00:39 Guest Intro : Gerard O’Sullivan
00:01:24 Background of the Guest
00:02:20 Getting Into Business in Your Early Twenties
00:04:45 Real Estate Space
00:05:38 Tax as Maturity Driver
00:08:02 Beginning of Multifamily World
00:08:32 How to Take Advantage of Bonus Depreciation
00:14:19 Tax Code in the IRS
00:18:42 Cost Segregation
00:21:30 Learning New Spaces and Gathering New Experiences
00:38:51 Balance Between Work and Family
Connecting with the Guest:
Connecting with MHP Law: