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Rich Dad's Real Estate Advantages: Tax and Legal Secrets of Successful Real Estate Investors
 
 
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Rich Dad's Real Estate Advantages: Tax and Legal Secrets of Successful Real Estate Investors [Paperback]

Sharon L. Lechter (Author), Garrett Sutton (Author)
4.7 out of 5 stars  See all reviews (28 customer reviews)


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Book Description

November 14, 2006
Real Estate Advantages is for first-time as well as seasonedreal estate investors.It reveals the tax and legal loopholes availableand most important, how they can be used together to not only maximize yourincome--but accelerate your income from real estate investing.SharonLechter and Rich Dad's Advisor Garrett Sutton team up for the first time todeliver practical, proven strategies and formulas--from the perspective ofsuccessful investors, CPAs and asset protection attorneys--for acheivingthe greatest leverage from real estate investing.Written ineasy-to-understand language, this book de-mystifies the legal and taxaspects of investing with easy-to-follow, real life examples. Real EstateAdvantages reveals how you can find good advisors, create steady monthlyincome, reduce your risk, pay less in taxes, make more money with yourbanker's money and, best of all, the government helps you!
--This text refers to an out of print or unavailable edition of this title.


Editorial Reviews

About the Author

Garrett Sutton is an attorney with over 20 years experience in assisting individuals and businesses to determine the most appropriate structures to limit liability, protect their assets and advance their personal and financial goals

From AudioFile

In a program that is part of Kiyosakis Rich Dad series, a CPA and an attorney offer a concise, pro-active, and enthusiastic guide to real estate investing. Framing their ideas within Kiyosakis theory of cash-flow quadrant, they show how owning property can be a tax-advantaged means to earn enough money to start other businesses and become financially independent. Though all investment strategies have risks, they explain their ideas with enough detail and clear examples to help listeners understand the complexities of real estate. Working with trusted advisors and using their investing formulas can moderate the risks. Garrett Suttons tone and pacing convey a sense of measured optimism and curiosity. T.W. © AudioFile 2007, Portland, Maine-- Copyright © AudioFile, Portland, Maine --This text refers to an out of print or unavailable edition of this title.

Product Details

  • Paperback: 288 pages
  • Publisher: Business Plus (November 14, 2006)
  • Language: English
  • ISBN-10: 0446694118
  • ISBN-13: 978-0446694117
  • Product Dimensions: 6 x 0.9 x 9 inches
  • Shipping Weight: 12 ounces
  • Average Customer Review: 4.7 out of 5 stars  See all reviews (28 customer reviews)
  • Amazon Best Sellers Rank: #171,572 in Books (See Top 100 in Books)

More About the Author

SHARON LECHTER

A life-long education advocate, Sharon Lechter is the founder of Pay Your Family First, a financial education organization, and YOUTHpreneur, an innovative new way to spark the entrepreneurial spirit in our children.

Sharon helps shape the state of financial literacy in our nation and how best to promote a financially literate populous through her appointment to the President's Advisory Council on Financial Literacy. She and the 18 other members of the council were selectively appointed by the President for their expertise in financial education and serve a two-year term. As a council member, Sharon is directly responsible to the President and Treasury Secretary for creating interesting and innovative ways to influence financial education.

Sharon is an entrepreneur, author, philanthropist, educator, international speaker, licensed CPA and mother. She has been a pioneer in developing new technologies to bring education into children's lives in ways that are innovative, challenging and fun, and remains committed to education - particularly financial literacy.

"Our current educational system has not been able to keep pace with the global and technological changes in the world today," Sharon says. "We must teach our young people the skills - both scholastic and financial - that they need to, not only survive, but flourish in the world."

Sharon travels nationally and internationally to speak on a range of topics from educating children and adults on taking control of their personal finances to the entrepreneurial business strategies she used in building international success.

"Sharon's passion for entrepreneurship is matched by her dedication to education," says Mary Lou Bessette, a longtime business leader and executive director of strategic initiatives at Arizona State University's W.P. Carey School of Business. "Her personal mission is to instill financial literacy worldwide. Sharon's writings and leadership, especially with women and children, demonstrate that she is uniquely positioned to change the world through education."

In addition to her work with children, Sharon is a passionate advocate of women entrepreneurs and business women and often works with them to help expand their goals. She has written a regular advice column for Arizona Woman Magazine and speaks to various women's groups in cooperation with PINK Magazine. Each year, in cooperation with the WPO and Sam's Club, Sharon holds an event at 8-12 Sam's Club with the Girl Scout's of America to teach young girls financial lessons through interactive games.

Sharon is known world-wide as the co-author of the international best-selling book Rich Dad, Poor Dad and the Rich Dad series of books. During her 10 years with the Rich Dad Company, it grew into an international powerhouse with over 20 books, board games, Web sites, CDs, audio cassettes and seminars. Rich Dad, Poor Dad has been on The New York Times Best Sellers List for over six and a half years and is available in over 50 languages and sold in more than 108 countries. More than 27 million Rich Dad books have been sold around the world.

In 2007, Sharon left the managerial board of The Rich Dad Company to pursue focused work on financial education for children and families, as well as to continue work on improving our nation's educational system. It was this passion that led her to recently launch Pay Your Family First and YOUTHpreneur.

A committed philanthropist, Sharon also gives back to world communities as both a volunteer and benefactor. She is a member of the Business Advisory Council for the Attorney General of the State of Arizona. She has served on the Dean's Council 100 of the W.P. Carey School of Business at Arizona State University and as a member of the advisory Board of the Spirit of Enterprise at the W.P. Carey School of Business. Sharon serves on the national board of the Women Presidents' Organization, the advisory board of EmpowHer (a Web site to help women with their health issues) and on the national board of Childhelp, a national organization founded to prevent and treat child abuse.

In 2002, Childhelp honored Sharon and her husband, Michael, as recipients of the Spirit of the Children Award. In 2004, Sharon and Michael were recognized as an Arizona "Power Couple," and Sharon was also named as a 2005 Woman of Distinction by the Crohn's & Colitis Foundation of America.

Sharon graduated with Magna Cum Laude honors from Florida State University with a degree in accounting, then joined the ranks of a Big Eight accounting firm. Sharon has held various management positions with computer, insurance, and publishing companies while maintaining her professional credentials as a Wisconsin CPA, and a member of the AICPA (American Institute of Certified Public Accountants).


CONTACT INFO:

Sharon Lechter
Founder and CEO
Pay Your Family First
6611 N. 64th Place
Paradise Valley, AZ 85253
480-607-1940 office
480-607-1923 fax

www.sharonlechter.com
www.youthpreneur.com
www.threefeetaway.com


 

Customer Reviews

28 Reviews
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Average Customer Review
4.7 out of 5 stars (28 customer reviews)
 
 
 
 
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42 of 44 people found the following review helpful:
5.0 out of 5 stars Smarter Investing using Tax Free Advantages, November 24, 2006
This review is from: Rich Dad's Real Estate Advantages: Tax and Legal Secrets of Successful Real Estate Investors (Paperback)
This book is designed to help you develop a smarter real estate acquisition plan. It shows how you can look hard at your assets and liabilities and develop a leverage plan for purchases and a tax advantage plan to maximize your cash flow. There is some good advice on networking, mentoring, joining a local real estate club and building a team of advisors. The explanation of tax strategies, depreciation and insurance is not as strong or in depth as I'd liked to have read. However the chapters on tax-free exchanges are very enlightening; especially to those of who have read about it but have been afraid to do a 1031. The book also offers other good advice on homestead advantages and responsibilities for legal due diligence. The strength of the book for me, and probably most other investors who have less than 10 properties, is (1) the advice on asset protection; e.g. use of a Limited Liability Corporation, and (2) smart use of the tax-free advantages in 1031 exchanges. I strolgy recommend it for those who have a few properties and are ready to make a bigger bolder move in real estate investing.
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19 of 22 people found the following review helpful:
4.0 out of 5 stars Lots and lots of info, November 27, 2006
By 
This review is from: Rich Dad's Real Estate Advantages: Tax and Legal Secrets of Successful Real Estate Investors (Paperback)
(Available in both book and audio--reviewed as an audio)

Whether you are new to real estate investing, or a seasoned real estate investor looking to maximize your returns, Rich Dad's Real Estate Advantages has something for you.

Beginning with very basic real estate investment tactics such as the 1031 exchange and increasing buying power with the bank's money, and gaining in complexity to taking advantage of tax code and decreasing legal risk, this book continues the tradition of good advice the Rich Dad system is known for.

The audio book version is read by Garrett Sutton, ESQ, one of the authors, with a forward by Robert Kiyosaki (the Rich Dad guru) and Sharon L. Lechter, CPA. The audio is of fine quality with no variation in sound level and Sutton reads it flawlessly. The CDs, whether intentionally or not, also seem to be broken into the three components of the book: introductory real estate investing, tax strategies, and legal strategies, so it would be relatively easy to re-listen to specific sections.

I would say that this book is so full of information that I felt I should be taking notes. Probably, listening multiple times would suffice, but many investors would like to reference specific sections and may prefer the hard copy rather than the audio. Someone just beginning, especially someone who commutes and can listen daily, will see the advantage of information repeat that the audio provides.

Armchair Interviews says: A good book--but this audio format won't be appropriate for everyone.
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12 of 13 people found the following review helpful:
5.0 out of 5 stars The First Book to Truly Teach Real Estate Method, November 15, 2007
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This review is from: Rich Dad's Real Estate Advantages: Tax and Legal Secrets of Successful Real Estate Investors (Paperback)
This book does for real estate investing what Pimsleur does for language learning: it teaches you to speak the real estate language, to ask knowledgeable questions, and to make informed decisions.

I have been through dozens of books, tapes, and CD programs on investing in real estate. Some are strictly motivational with little useful information. Others are like reference works and cannot be read from beginning to end. Still others hope to be meaningful forever and so dare not give you anything too current, or disputable and likely to change. Lechter and Sutton, however, wrote a book to turn a dreamer into a real estate investor. If that's what you still want at the end - but you have all the info to make the decision. Other reviewers might say that there are no "secrets" in this book - true, I suppose - but if YOU don't have a tutor for the subject, then for YOU common knowledge is a secret!

The authors give separate advice for dealing with primary residence and for investment properties. Most other books blur these separate cases. Special cases where individual state law might differ from the general situations are pointed out. Case studies and repetition are used throughout - much like Pimsleur uses conversation in each language lesson. The reader brings everything learned earlier to each case, but is stretched just a bit to see why each case is unique. Each chapter builds on prior chapters. Included is the required amount of math, but this is clearly not a math book. On the contrary, it is an enjoyable read cover-to-cover. Some of the material is current as of 2006 and this is clearly noted. I hope this book gets updated every few years.

While technically part of the Rich Dad series, the book stands on its own. The reader is fully aware of the few tacked-on references to the Rich Dad philosophy.

This book is a must-read for anyone thinking about a career in real estate investing in all its forms. Consider it the second book you read - after something like "Home Buying for Dummies."
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Inside This Book (learn more)
Key Phrases - Statistically Improbable Phrases (SIPs): (learn more)
old property, purple duplex, earnest monies, landlord liability, legal due diligence, real estate losses, qualified intermediary
Key Phrases - Capitalized Phrases (CAPs): (learn more)
New Property, United States, Social Security, Garrett Sutton, Seneca Lake, Scenario Two, Total Expenses, Something Fishy, Daisy Mae, Board Game, Creating Your Team
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