In this two part article I want to begin by clarifying that I do not want the title to mislead you in two ways. First, when I say “debt” I do not mean getting yourself in hock or using phony liens just to protect your assets. Instead I will be discussing your own valid controlled debt which is still your equity but in a separate entity apart from your real estate; but more on this later. Secondly, I do not want you thinking that you should not use an LLC, a trust, and insurance. (more…)

I’m in my eighteenth year of teaching now and there is one thing that hasn’t changed since I started…

Most People Insist On Doing The Same Stupid Stuff Day In And Day Out
And Then Wonder Why They Aren’t Rich
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Investors are often advised to use another separate corporate entity to manage the properties. The legal reason for this is that the separate entity will act as your rental property management company as a decoy in dealing with tenants, contractors, vendors, etc.  In the event of a legal dispute or action from one of these (tenants, contractors, vendors, etc.), the management company (acting as a decoy) is a separate and distinct entity apart from you.  Presumably, any legal action will be brought against this managing corporation and not against you, or not against whatever entity owns the property (such as an LLC).  (more…)

As a real estate investor, not only do you want a tax advisor but a Real Estate Tax Specialist. The problem is to find one. Many of my students tell me when they move to a new town or city, it’s easy to find a good doctor, dentist, real estate attorney, mortgage broker and real estate agent. But what they can’t seem to find is a Real Estate Tax Specialist — a CPA, accountant or attorney who specializes in real estate and has knowledge in the tax reduction strategies pertaining to rental properties, commercial property, wholesaling, rehabbing, foreclosures, seller financing, paper, options, lease-options and the other facets of real estate investing. (more…)

Recently I hired a full time mechanic to work on my jet to reduce the maintenance costs and improve its reliability. He was sitting in my office with my pilot, my CFO and myself and we carefully and slowly pointed out to him all the reasons he should incorporate to save money and provide more asset protection. (more…)

American Banker, By Kate Berry
April 21, 2009

Trying to cut its losses, Bank of America Corp. has changed its
policy on short sales, making it easier for borrowers to sell
their homes instead of going into foreclosure. (more…)

The answer is yes, provided you know the law in depth and plan accordingly. But first some background.

A 1031 exchange is a great way to create wealth by saving substantial taxes on the sale of investment property by reinvesting the untaxed sales proceeds in a replacement (investment) property within the IRS requirements of Section 1031 including the applicable regulations, rulings, and tax court cases. (more…)

A guy in my position gets to talk to a lot of folks out in the real world at the grass roots level. People trying to get as much as they can out of this short life and be the best they can be. The people I see are searching and it may surprise you to learn that not all are after more money. Some just need a little excitement back in their life, others are trying to lead family members to success, and some are just looking and know not for what.

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I know this sounds like another one of those glorified headlines to get our attention without containing a lot of truth. Well, I know it’s a very strong statement and it sounds too good to be true. But what if it is true? What if you could have a cool million dollars in your IRA within a few years so you’d never have to worry about retirement income? What if you could do this without writing another check to your IRA? (more…)

Ok, enough already! Quit asking. I’ll tell you what goes on in my life behind the scenes even though I can’t imagine why anyone would care.  I’ll bet you won’t be very impressed. I’m doing this only because you asked numerous times and because I’ve seen Dan Kennedy, my marketing guru, succumb to the same pressure in his newsletter last month, so here it goes. (more…)