Customer Reviews

How to Invest in Real Estate And Pay Little or No Taxes : Use Tax Smart Loopholes to Boost Your Profits By 40%

5 star:		(2)
4 star:		(1)
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2 star:		(1)
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This book will open your eyes to new ways of securing and increasing your assets tax-free. There are many details and step-by-step examples and different scenarios. If you are thinking of doing a 1031 like-kind exchange - this book will take you through the process and give you concise instructions on how do it and what mistakes to avoid. If you are interested in self-directed IRA's - keep in mind that you can use your retirement plan to invest in real estate. The author walks you through using your 401(K), your IRA, your HSA, and other vehicles to increase your portfolio by buying assets, including real estate.

If you want to own rental property, there is a way to have your self-directed IRA own it in its portfolio. If your IRA doesn't have enough money to purchase the entire property, you can borrow cash outside the IRA to purchase the property. The book shows how to draw up a Buy Letter under those circumstances. If you will be receiving rents from the property, you can hire an outside property manager, rather than having your IRA plan administrator do the work. But there are strict conditions and this book outlines them.

If you invest in real estate at all, or are thinking about it, this book is a definite must-read and could potentially save you thousands of dollars!

Perhaps the author is much more gifted as a seminar speaker than he is as a writer. I think the book could use a re-write in which the repetitive information is eliminated, and the remaining material is cleaned up, possibly following the suggestions of Strunk and White as described in Elements of Style. The 1031 exchange information comprises 22 pages of the 244 page book, and I was particularly disappointed with this section. The author went into useless detail when describing the hypothetical examples; his character, Lisa, needed to paint and carpet her old building before putting in on the market -not relevant! In the next example, Roger's exchange was given such cursory treatment that the author failed to calculate the new basis for the replacement property correctly, inserting an erroneous figure into table 6-2. If you want to put investment real estate into your IRA or 401K, then this book may have merit. However, a quick internet search of "1031 exchange" will yield many more useful explanations than this book provides.

This one may not get you 40% but it does tell you a unique trick with the IRAs. you can flip real estate over and over again without paying immediate taxes. the downside? you can't withdraw your earnings but for long term, it is awesome. the book talks about tax liens being used for IRAs, though I agree with that, do not use this book to learn about tax liens or tax sales, or you're gonna get burned. read up on Investing Without Losing (ISBN 0978834607 NOT on amazn, other stores) or something similar.

This book has great information and is easy to understand!

I have attended workshops by this author and this was exactly what I hoped for!