Eng Taing is the CEO & Founder of Touzi Capital, a Kansas City-based investment company focusing on high cash flow assets. He is also launching an education platform called Financial Freedom Decoded to help working professionals invest in real estate while leveraging tax minimization strategies to build passive cash flow towards financial freedom. In this episode of the Progressive Dentist podcast, Eng joins us to share his journey into entrepreneurship and investing, and he walks us through the top tax strategies he uses to keep more of his passive income.
Achieving Time and Financial Freedom
After successful careers as a day trader, DirectTV executive, and Apple Data Scientist, Eng had accumulated enough wealth to retire by age thirty-five. Instead, Eng chose to transition into the world of real estate investing so he could expand his wealth and get his money working for him. He now has a $65M real estate portfolio that generates tons of passive income and enables him to enjoy the time and financial freedom he worked so hard for. However, one of the main reasons Eng’s portfolio has been so lucrative is because he has been able to take advantage of tax benefits that many W-2 employees are never told about.
High Cash Flow Assets
As a W-2 employee, there are a lot of advantages to investing in real estate that you might overlook if you don’t explore the options with your CPA. One of the strategies that Eng implemented early on was to bring his wife into the business so he could write off some of the depreciation against active income. That is just the tip of the iceberg. Now Eng does LPGP deals with day-one cash flow of at least double digits. Co-investing in high-cash flow assets will enable you to reap the benefits now instead of taking a risk on what the market will look like ten years from now. This is the best strategy for any business owners or working professionals who want to grow their wealth. As always, please visit me at www.theprogressivedentist.com for more informative podcast episodes with other remarkable business leaders.