Alternative Investing Mastery Series
Access Replay for Session 38:
How to Reduce Your Active Income Taxes with Real Estate Professional Status (REPS) & Other Creative Strategies
Don’t Miss This Replay
Learn from some of the biggest names in investing about how you can win with this downturn.
What You’ll Learn In This Replay
What the real estate professional status (REPS) is and how it works
How to use REPS to offset W-2 and other active income with real estate losses
What it takes to qualify for REPS and remain compliant
Legal structures and strategies to reduce taxes with real estate investing
Common mistakes to avoid when using REPS and structuring your investments
Live Q&A to Give You the Answers You Need
May 7th - How to Leverage AI Tools and Strategies for Smarter Passive Investing
May 28th - Opportunity Zones
Date TBD - More to be announced
Meet Your Presenters
Patrick Grimes
CEO/Founder, Passive Investing Mastery: Diversified Litigation Portfolio, Diversified Medical Receivables Portfolio, Recessionary Acquisitions Fund, Recessionary Income Fund, PIM Rapid Lending
Patrick’s portfolio is diversified across energy, litigation finance, medical receivables, commercial lending, and acquisitions, including retail, industrial, and thousands of apartment units. He has developed a range of diversified passive investments focused on growth and cash flow. He speaks on stages nationally, co-authored Amazon #1 best-sellers 'Lesson From Thought Leaders,' and 'Pivotal Leadership,' also an e-book Barnes & Noble #1 Best-Seller, and is a member of the Forbes Business Council, contributing articles on investing and commercial real estate.
For investors who want recession-aware, low-correlation alternatives to traditional markets, Patrick offers four core strategies: (1) PIM’s Diversified Litigation Finance Portfolio, built to provide investors with non-correlated growth by funding a diversified pool of lawsuits through contingency-fee law firms; (2) PIM’s Medical Receivables Portfolio, for investors seeking non-correlated cash flow and growth through financing medical practices’ accounts receivable—billed claims for services already rendered. Patrick also offers two commercial real estate funds, both capitalizing on the downturn in commercial real estate: (3) an Acquisitions Fund, targeting growth through opportunistic property acquisitions, and (4) an Income Fund, targeting stable cash flow through a diversified portfolio of commercial real estate loans.
Patrick holds a BS in Mechanical Engineering and both an MBA and MS in Engineering from San Jose State University. An avid adventurer, he resides in Honolulu, Hawaii.
Abby Broyles
Founder, LegalSphere
Abby Broyles is a seasoned real estate attorney with extensive expertise in luxury real estate and investment strategies, particularly in the vibrant Florida market. She is the founder and managing partner of LegalSphere, a boutique national law firm serving real estate investors and small business owners, helping clients navigate complex transactions and maximize their investment portfolios. Abby is adept at negotiating high-value deals and represents a niche group of investors in the luxury residential rehab space in Florida, including the Ponte Vedra Beach, Sarasota and Fort Lauderdalemarkets, where she is also a licensed real estate agent. She is a frequent investment legal contributor on YouTube and advises a wide range of investors while offering unique passive investment opportunities through her client network.
Abby started her first small business at age 18 as a professional writer before she graduated from college with her degree in journalism and began her on-air television career at age 20. Abby won numerous awards for investigative journalism and was featured in documentaries on the Investigation Discovery channel and Netflix for international stories she covered. She spent most of her television career in her hometown of Oklahoma City. She continued to work full time as an investigative journalist and anchoring the morning news while putting herself through law school full time. She was a member of the Law Review and graduated with honors from the Oklahoma City University School of Law.
Upon passing the bar, Abby opened her own private practice and joined a film production company focused on intellectual property as an attorney and philanthropic director. While running a busy practice, she won the nomination for United States Senate in 2020, challenging Oklahoma’s longest serving US Senator. Running for statewide office allowed Abby to work closely with small business owners to understand their needs, resonating with the entrepreneurial spirit she’s always had herself. Abby’s personal and professional philosophy has always been to dream big and work harder, making her a compelling advocate for clients across the country.
Thomas Castelli
Partner, Hall CPA
Thomas Castelli, CPA, CFP® is a Tax Strategist and real estate investor who helps other real estate investors keep more of their hard-earned dollars in their pockets and out of the government’s. As a Partner at Hall CPA PLLC and a key leader in the Tax Smart Investors community, Thomas has worked directly with 100+ investors across the U.S., using strategies like Real Estate Professional Status (REPS), cost segregation, bonus depreciation, and the short-term rental loophole to reduce tax burdens.
In addition to his tax advisory work, Thomas is the Principal Fund Manager at Dual City Investments, where he helps investors build wealth through passive real estate investments. He also co-hosts the Tax Smart Real Estate Investors Podcast, sharing real-world strategies and insights that blend tax planning with smart real estate investing.
Thomas earned his B.S. in Business Management with a concentration in Accounting from Farmingdale State College. He’s been recognized as a “40 Under 40” by CPA Practice Advisor and received the Emerging Leader Award from the NYSSCPA, reflecting his impact on both the tax and real estate investing communities.