November 1, 2022 - The Chicago Journal

Ronnie Cropper Relaunches Credit Score Education Platform CreditDash as a Mobile App

The Chicago Journal Staff on November 1, 2022

Having a good credit standing is extremely important in the American economy, but many individuals are still in the dark, not fully understanding what credit scores are or how they can raise them to leverage its many financial perks. Seeing the gap, Ronnie Cropper steps in with CreditDash, a platform that helps Americans with everything they need to know about credit scores and how to improve them.

On a mission to reach more Americans with the innovative solution, CreditDash will be relaunched as an app to make it more compact and accessible.

“We’re relaunching CreditDash and making it widely available via a mobile app to continue the journey of assisting Americans who struggle to improve their credit scores and also to help make new entrepreneurs by giving them a platform to also assist other people in the US who struggle with obtaining the desired credit score and more importantly educating them on how to keep a credit score,” the CEO said. “Financial literacy is one thing that is overlooked in the middle to lower-income communities, and we want to make it easier to understand and more accessible to everyone by way of our platform,” he added.

Before making his way into the financial technology industry, Ronnie played basketball and invested his earnings in the real estate market from 2007 to 2008, right before the market crashed. Inevitably, he lost some of his properties and faced some serious credit challenges. In trying to fix his credit scores, Ronnie only lost thousands of dollars on fraudulent credit repair specialists. “It was when a friend helped me actually do it the right way that I realized there was a need in the space, but I wanted to make it affordable for everyone using technology,” he said. Thus, the birth of CreditDash.

On top of relaunching CreditDash, Ronnie is currently in the middle of creating a mobile fitness app geared to target busy entrepreneurs, especially those with taller than average height. Being an entrepreneur and an especially tall person himself, Ronnie understands how difficult it is to find the balance between a busy schedule and fitness and simultaneously find a program tailored for tall individuals. Ronnie is tackling both problems with his upcoming mobile fitness app.

“These two projects have become my passion for one primary reason–I enjoy helping people,” Ronnie said. Having gone through his fair share of challenges as he was navigating the technology and fitness industries, the entrepreneur realized that having a mentor would have made his journey easier, and he wants to be that mentor today for other aspiring entrepreneurs to improve their quality of life, both financially and physically. “So many people struggle with just the basic necessities because they don’t have the information or know where to get it from, so that’s where my passion comes from,” he said.

Furthermore, Ronnie recently accomplished winning his division at the North American Championship bodybuilding competition in just his second show, making him an official IFBB professional bodybuilder and one of the few in the game at his height.

Breaking the Mold to Financial Freedom: Why Peter Diamond’s The Diamond Wealth Real Estate System is Your Next Great Read

The Chicago Journal Staff on November 1, 2022

Everyone dreams of finding the perfect balance between professional life and leisure with loved ones while simultaneously attaining financial freedom, and real estate just might be the key to living the dream. However, with the rising economic uncertainties, inflation, and increasing prices, it’s becoming more challenging, if not almost impossible, to make ends meet on traditional wages alone. Not to mention that people are working longer hours today than they have during the feudal period despite the supposed efficient methods with technology. Peter Diamond is shifting such a traditional mindset by introducing the ideology of financial freedom and lifestyle autonomy through his book The Diamond Wealth Real Estate System.

People want to achieve the famous American dream, living a life of sufficiency in all aspects of life. But in reality, many are forced to trade time with loved ones for money, neglecting health to work overtime and taking almost zero time off work. But the author argues that it’s not the only formula to success.

The Diamond Wealth Real Estate System equips readers and aspiring entrepreneurs to enter the real estate industry with knowledge and confidence. The real estate market, as the author explains, is the best landscape for anyone who wants to break the mold and free themselves from the cycle of working a nine-to-five job. Traditional wages may have worked in the past, but the recent economic demands require people to innovate, and Peter wants to lead them to cope with the fast-paced changes and, at the same time, set themselves up to achieve the American dream.

The Diamond Wealth Real Estate System presents readers with knowledge on compounding their assets without requiring direct involvement. It explores techniques and strategies one can use to build a portfolio or start earning passive income from real estate ventures outside of their traditional jobs and soon be successful enough to free themselves and become their own boss.

Peter is the world’s first Certified Bankability Expert® and a seasoned CFO. Having been in real estate for years, he has made it his mission to help people leverage the many opportunities in the industry to gain financial independence by minimizing liability and risk. Peter is a leading resource, consultant, and advisor to many clients, from families to individuals, in their needs for tax and real estate advice.

Being one who values a holistic approach to life, Peter believes that one should “value lifestyle over money; value passive income with flexible time to spend with loved ones over active income with zero time for loved ones.”

The Diamond Wealth Real Estate System aims to raise the next premier players in the real estate game, providing innovative roadmaps built from a perspective that goes outside the traditional approach to real estate. Currently, it is one of the best solutions for one to build generational wealth. The author highlights his buy-and-hold strategy throughout the book, emphasizing that it is the best way to enter the industry as it veers away from the outdated ways people used to get out of the rat race.

Gone are the days when the only way to succeed is for one to go through years of college, earn a regular wage, or invest in a 401k. The time for change is now, and Peter is paving the way for many to succeed in real estate to gain financial success, control over their time, and live life to the fullest.

“The American dream is alive and well, and real estate is your ticket in,” the author said. “You will have control over your wealth, time and energy. You’ll be livin’ the dream.”

Chinese Herbs for Children and Adolescents – Lessons Learned During COVID at Longevity Mountain Herbs

The Chicago Journal Staff on November 1, 2022

According to a trusted survey, the post-vaccine experience in USA-based kids and teens has taken a toll on their physical health. While 60.1% experienced fatigue, 24.1% felt muscle pain, 10.1% reported having fever, and 8% of them had diarrhea, (Source: Business Insider ) with 1594 deaths overall (Source: CDC). The pandemic also had an impact on children’s learning processes and other healthcare facilities since the virus took the front seat. Nevertheless, stress-related and emotional problems are prevalent in teens, which impact other areas of their lives.

Since the pandemic implied house-arrest of people, including children, the outdoor activities came to a standstill. After the playground was replaced with gadgets, kids became more lazy and experienced sleep and concentration issues. Lack of exercise was another cause that made teens lose their self-esteem. Gun violence involving children (0-18 yrs.) resulted in 1438 deaths in the US (JAMA, CDC). Children have been greatly affected and need our attention on a very personal level.

Longevity Mountain Herbs (LMH), a platform best known for its Chinese herbal formulas, started seeing increased health requests for young children with ADD/ADHD formulas: Spirit Comfort, Flu Comfort for extreme fever, Body Force for immunity, Nose/Allergy Comfort for nasal congestion, Breathe Comfort for lung congestion and asthma complaints, and Heart Comfort for anxiety and heart/circulation problems.

Preparing and Fortifying Our Teens After COVID

Having identified the general issues faced by teenagers, which include menstruation, irritability, separation from friends, less interaction with peers, no physical activity, high anxiety, suicide, and drug abuse, Longevity Mountain Herbs has found herbal remedies catering to all of these. The following are some of the primary formulas offered by the herbal company which eliminates the cause of health problems at its roots.

Female Comfort – treats extreme menstrual pain and cramps, weakness, anxiety, depression, suicidal thoughts, etc.
Cortisol Calm Comfort – this formula helps to reduce stress.
Slim Comfort- caters to obesity and hunger pangs.
Male Comfort- energizes teenage boys and restores their hormone levels to normal.It improves concentration and focus. It also clears blood toxicity and pollutants.
Spirit Comfort—works best to increase concentration and improve focus. Treats ADD, foggy thinking, and stress-related problems
Paramalin and ADP- treat acne, skin problems, and insomnia in teens that often happen due to hormonal changes.
Vital Yang- improve athletic performance, speed, and strength of adolescents

Parents that are looking for alternatives to the side effects of more forceful medicines and/or have discovered that some children are resistant to the psychological branding that occurs may want a natural option that can interrupt the high levels of stress that children can present. Making sure that a child or teen gets the right herbal formula for their specific needs is very important. Longevity Mountain Herbs provides a comprehensive Chinese medicine assessment for free. This is provided to ensure that all of our clients’ receive the correct formula and diet to balance their mental, emotional, and physical health and to assist financially.

The senior master herbalist, Mark Hammer, has worked with clients for over 35 years. He apprenticed in Chinese medicine in the traditional way discovering some aspects of Chinese medicine were absent in the US. His teacher, George “Hua” Chun, while a medical chemist researcher in the past found personal medical solutions from his father’s medicine. Many generations of Chinese medicine have contributed to the making of Longevity Mountain Herbs. This foundation, profoundly, provides a sure response to every client who works with the herbalist, clinic and the online Chinese medicine shop.

The pandemic has taught us a lesson to pay greater attention to our health. The role of parents has further increased, pushing them to take better care of their children and understand their emotional and physical health problems. Parents have also learned from their children to keep a home store in order to prevent such occurrences and to use them for their own purposes as well.

The Many Tax Benefits for Real Estate Investors

The Chicago Journal Staff on November 1, 2022

Real estate has been white hot over the last few years, and many people have made money investing in this sector of the market. But how and why? With the market starting to cool and return to normal levels of appreciation, there are still deals to be found that, for the diversified investor, would make a great addition to any long-term portfolio. But why should an investor with no experience in real estate consider this industry for a large portion of their portfolio? The answer is complicated but can be distilled down to one word: Taxes.

Real estate is one of the few sectors of the American economic machine that Congress has codified its public policy of encouraging investment in this sector. From 1031 Exchanges to Cost segregation studies, it is clear Congress believes the private sector is better equipped to help house America’s population than the Government, so Congress, in turn, will help and encourage investors to do just that. But how do they encourage those investors? Through rewarding investors with tax benefits that make substantial increases to bottom lines and deferring to offsetting taxes through heavy deductions.

Here are the highlights of tax benefits for real estate investors:

REAL ESTATE AND TAXES

Real estate is one of the few asset classes with multiple tax benefits that are underappreciated by financial advisors. Why? It could be that financial advisors don’t make a commission on them or that you actually do not need a financial advisor to get into real estate. Not to diminish the role of your advisor, but you do not need a financial advisor to understand these tax benefits of real estate.

Real Estate is Depreciable. Yes, you can depreciate residential real estate over 27.5 years and commercial real estate over 39 years. 26 USC Section 179 allows for the depreciation of real estate over the life of the asset class, and in the case of real estate, you can take a $500,000 residential property and depreciate it over 27.5 years. This means that you can deduct $18,181.81 each year in depreciation.

Bonus Depreciation. Section 168(k) of the Tax Code allows for Bonus Depreciation. This is tax talk for saying that the Tax Code will allow investors to take additional depreciation on an asset used for business purposes rather than limit the depreciation to what is set for on the useful life tables. The benefit of bonus depreciation is a larger deduction in the year it is taken; this, in turn, leads to less tax owed because of the correlating income offset from this deduction.

Real Estate Capital Gains Can Be Deferred. Under Section 1031 of the Tax Code, if you hold a property for the requisite holding period, which is not defined in the Tax Code, you can sell that property via a like-kind-exchange using an intermediary to hold the funds while you identify a new property or properties within 45 days and close on those identified targets within 180 days. This allows you to defer capital gains taxation and forebear depreciation recapture while buying larger and, hopefully, better cash-flowing real estate assets. Thus, this tax mechanism allows the investor to take their profits and leverage those into more assets, thereby growing the real estate portfolio in a tax-efficient manner.

Cost Segregation. Depreciation of the real property can be accelerated by using cost segregation studies to break the assets into various parts that fall under separate classes to allow the individual components to be depreciated over 5, 7 or 15 years. This allows the property’s components to be utilized in a tax-efficient manner instead of using the 27.5 or 39-year class life of the entire asset. A net result of a cost segregation study is to accelerate the depreciation to allow for more Section 179 depreciation to be taken earlier in the asset’s life.

Business Deductions. Section 162 of the Tax Code allows for deductions of business expenses in furtherance of the business in which those expenses are made. For example, should an investor need to purchase a subscription to a Multiple Listing Service, purchase an App for his or her phone to track mileage, buy a computer, printer, desk, or chair, pay a portion of their mortgage and utilities for their home office (Section 280A), purchase a vehicle to travel to their properties, purchase a truck for haul refrigerators, ovens, supplies, or even to check on their properties, these are all expenses of the investor that are deductible.

Business Interest Expense. Section 163 of the Tax Code allows for business interest expenses to be deducted. What does this mean? Here is what the Code says: There shall be allowed as a deduction all interest paid or accrued within the taxable year on indebtedness. Given this allowance of interest as a deduction, the interest on loans for the purchase of real estate is deductible beyond the current $10,000 limitation on mortgage interest cap for personal residences. This is not without limitation, and investors should consult their accountants about those limitations, currently set forth in Section 163 (j).

While more tax nuances can be discussed, these are the tax benefits that high-net-worth individuals should look into. Additionally, by working with a sophisticated lawyer who understands the needs of the individual and their goals, tax losses can be carried forward to future years.

REAL ESTATE AND PASSIVE INCOME

Whether using long-term residential real estate, commercial storage units, short-term residential real estate or apartment syndication deals, real estate allows the owner and investor to take a passive role in the management of their real estate by utilizing property managers.

The use of property managers provides the investor with the peace of mind that their investment is in good hands for day-to-day matters such as maintenance and that their tenants are safe in the knowledge that they have someone to turn to in the event a need arises. Moreover, for the cost of the monthly management fee, ranging from 3-40% of the monthly gross rents, higher percentages are usually found with short-term rental management and lower fees with long-term residential property management, so there is no need to worry about late-night phone calls about a clogged toilet.

Property managers will also ensure the yard is maintained, the utilities are being paid, the tenants are of the caliber desired, and any marketing efforts to rent the properties are being undertaken to ensure maximum rental potential. At the end of each month, a revenue statement is generated by the property manager, and a check or direct deposit is provided into the bank account the investor designates. A true passive investment. Section 469 of the Tax Code discusses passive activities. It is of note that Short Term Rentals are unusual given the 7-day safe harbor exception for rental activities. Again, this is an area that your accountant and lawyer can help you navigate to achieve optimal tax treatment.

ASSET APPRECIATION AND LEVERAGE

While your tenant is paying the rent each month or, in the case of short-term rentals, multiple tenants, the note held by the investor is being paid down. Historically, real estate appreciates in value, so the asset is increasing in value. As the asset increases in value and the debt is being paid down, the investor receives the benefit of equity growth. It is with that equity growth that the value of real estate cannot be overstated.

By tapping into the equity growth through a refinance or an equity line of credit, the investor can leverage that internal equity to purchase additional real estate. The additional real estate purchases allow the investor to generate more cash flow and more tax benefits. Regardless of the asset type, short-term, long-term or commercial real estate, the benefits to the investor are tangible in the form of tax deductions while maintaining monthly cash-positive receipts.

Taxes are a very real and very certain part of the investor’s concern as they head towards their goals for retirement or even financial freedom to pursue other endeavors. The Code sections discussed above are simply the tip of the iceberg for real estate investors. Talk to your team of professionals about real estate.

About Brian T. Boyd, Esq.

Attorney Brian Boyd helps clients with real estate, construction, and other business matters, while at the same time growing his real estate portfolio to a six-figure income. He earned a JD from Samford University’s Cumberland School of Law and an LLM in Taxation from Georgetown University Law Center. His newest book is Replace Your Income: A Lawyer’s Guide to Finding, Funding, and Managing Real Estate Investments.

3 Next-Gen Eyewear Brands to Look Out For

The Chicago Journal Staff on November 1, 2022

The world has come a long way from classifying eyesight glasses as nerdy medical aid to creating them as fashion symbols. These days eyewear has become the trendiest fashion statement that is a must with every outfit. Whether you are trying to funk things up or searching for your signature look, eyewear can surely help you achieve it.

While the demand for outstanding eyewear has undoubtedly increased, many new brands have come forward with unique and slick designs. Though some of the biggest names, like Ray-Ban, Tom Ford, etc., have helped the eyewear industry advance by producing trendy designs and remarkable quality, you can’t ignore new brands that are rewriting the rules of the game. To help you out, we have prepared a list of such inspiring eyewear brands that are revolutionizing the world of optics with their incredible design, quality, and price. Here are three next-gen eyewear brands that you need to look out for:

SPY

For our first pick, let us introduce you to the brand that has taken lens technology to the next level. They have successfully incorporated the ‘Science of Happy’ into their new eyewear collection. They have proven to elevate users’ moods towards happiness with their color and contrast lenses. Their team consists of athletes, eye experts, and artists committed to generating an incredible optical experience for everyone. Their wide range of eyewear includes sunglasses, goggles, and prescription frames. Their Happy Lens technology uses long-wave blue light to its advantage while shielding users from short-wave blue light, which is known to harm the eyes. Independent studies have shown that long-wave blue light rays positively impact a person’s mood and alertness.

KOEYEWEAR

Another Next-Gen brand that has taken the world of eyewear by storm is none other than KOEYEWEAR. The revolutionary eyewear brand originated from one of the most fashionable cities in the world, Dubai. They provide premium eyewear and exceptional customer service. Although many businesses state that the needs of their customers come first, KOEYEWEAR makes sure that this is actually the case. They are known for creating their frames from Acetate material. For those unfamiliar with Acetate, it is one of the most durable materials used to develop high-quality plastic frames.

KOEYEWEAR always chooses the number one quality for their clients. Apart from that, the brand offers its customers a wide variety of colors and pattern options. And if you want to feel more luxurious, remember that all their glasses are handcrafted in Italy with passion, skill, and love.

The unique feature of this brand is the names given to each design. Unlike other brands, they have named the frames after famous cities like Paris and Chicago. Their designer exceptionally captures the essence of these cities and portrays them through their lenses and frames. For kids, they have introduced cartoon-based eyewear, keeping them entertained while protecting their sensitive eyes.

Zungle

The third brand that has made it to our list of Next-Gen eyewear brands is Zungle. It is the first-ever sunglasses brand that comes with built-in speakers. Equipped with bone conduction technology, their eyewear can be connected to your mobile device via Bluetooth. It allows the user to listen to music or make a phone call while being completely aware of their surroundings. Zungle aims to provide lightweight sunglasses with sound features, and its slick designs are a game changer for many of its clients. The brand claims that they have been well-received by its clients all over the US. And that their talented team consists of skateboarders, fixie riders, snowboarders, and sneaker heads. Coming from such a creative background has surely helped them improve and invest in such incredible products.

From traveling to exotic places to just simply going to a mall, eyewear can add that oomph to your overall look. With new and innovative brands like KOEYEWEAR, it is really easy to find the perfect eyewear look, all the while safeguarding them. According to eye experts, a good pair of eyeglasses or contact lenses radiate a sex appeal along with protecting your eyes.

The King of Digital Real Estate: Digital Landlords Founder and CEO Nick Wood Is Changing the Game

The Chicago Journal Staff on November 1, 2022

The vast world of running a business online has only grown larger over the years. As business and technology continues to develop, countless investment opportunities have cropped up within the ever-growing digital landscape. One of the increasingly more lucrative investments in our digital era is that of digital real estate. Since the inception of the industry, a young and hungry entrepreneur has silently risen to the top of the game. Dubbed “the King of Digital Real Estate,” Nick Wood is not only showing the digital real estate space why he is winning big–he’s now teaching it.

Wood recently announced the launch of Digital Landlords, an online course and community that teaches its students how to create and own digital real estate and make passive income through lead generation and sales. But before his foray into the world of digital real estate, founder and CEO Nick Wood was a successful door-to-door salesman with a knack for entrepreneurship, and a desire to build something of his own. In his early twenties, he started multiple tech ventures in the app space while incurring a massive debt of $60,000 in the process. Even in the trenches of entrepreneurship, his determination to build a successful business stayed with him. When he discovered the concept of owning and selling digital real estate online, he taught himself the basics and jumped into it headfirst.

In less than a year, Nick Wood went from being $60,000 in the red to building a multi-million dollar business. After honing his craft and learning the ins and outs of the industry, he realized that he could also use what he had learned to teach others. Thus, Digital Landlords was born.

Digital Landlords is the premier source for education and information in utulizing digital real estate to make passive income from home. The course distills the many tried and tested strategies that Nick Wood himself utilized to propel him to his current level of success, and gives students the tools to get earning right away. And with over 300+ students and counting, Wood sees how his course is accomplishing its purpose.

“This is the best business model on the internet, the best way to make passive income from home,” says Wood. “All you need is an internet connection and a lot of hustle.”

What has made the course appealing for so many is the fact that it requires no sales or technical experience, and can be remotely done from anywhere in the world. “It is an exciting time in the world where you can become a millionaire from the internet,” says Nick Wood. He shares that many of his Digital Landlords students have successfully generated passive income for themselves ranging from $10K – $40K per month. On the company’s website, there are indeed case studies shown that highlight the success of Nick Wood’s blueprint and how it’s helping students achieve their financial goals.

“Digital real estate is a hack for the modern-day hustler to make passive income online. If anyone can show me a quicker and easier way to make money from their phone then I’ll quit this immediately and do something else,” concluded Nick Wood.

Ever confident, “The King of Digital Real Estate” has indeed proven that digital real estate can be lucrative in the online space. Digital Landlords is now providing aspiring entrepreneurs with a road map and giving them the power to earn by assuming the title of “Landlords” in an always-thriving digital economy.