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Text Box: “Creating a Team” for RE Investing

Text Box: The Best Deduction Ever! (continued from page 1)

Text Box: process. Also, they are the most cost effective as they are paid primarily by the offering party in the deals. Attorney - Must know RE law and its consequences, and also have an understanding of IRA related rules that can effect RE related investments. A good book that has helped me proceed with my own team selection, and I feel would be a benefit to you is IRA Wealth Revolutionary Strategies for Real Estate Investment by Patrick Rice. For more info on this matter. Please see my special book offer below:

Text Box: Retirement planning should be a “team effort” and well informed, balanced advice is always required before investing. In Proverbs there is an old saying ,“Where there is no guidance the people will fail , but in abundance of counselors there is victory”. However, you must first know how to pick the best professionals, and to maximize the benefits you must know when to call on them. Creating your “team” does not require “rocket science”. Just be honest about what you know and don’t know, insist on individual

Text Box: expertise and an absolutely ethical approach to each deal. The essential members of the team will be: Financial Planner, Real Estate Broker, Accountant, and an Attorney. Financial Planner—Necessary credential and a broad base of knowledge. Accountant - If your accountant is also your Financial advisor you may not be able to count on unbiased feedback. RE Broker - Most important as they will bring you the property and guide you through the entire

Text Box: the book IRA Wealth - Revolutionary Strategies for Real Estate Investment by Patrick Rice. For prospective clients I am offering a free copy of this book (“IRA Wealth” by Patrick Rice) upon request. Simply contact me by email (grsmitre@cox.net) to request your copy. Then plan to get on the real

Text Box: How? The eligibility rules require you must have owned and used the property as principle residence for at least two of the last five years. You may not use the exemption more than once in any 24 month period, but for now it is the exemption that may just keep on giving if you play your cards right! There are a few other caveats but in any case you should consult with your personal tax advisor. After that you had better begin planning to get on the real estate investment “band wagon”. We can continue to roll our “tax exempt” gains from the sale of a principle residence every two years. Since the average American moves approximately every five years, It seems this is a strategy we should all consider for providing non-taxable income for our retirement needs. How much taxable income, or before tax savings would it take

Text Box: to generate the $250,000 or $500,000 exemption creating the “tax free” income discussed here? And how much time? Definitely thoughts worth considering. The job of a real estate advisor is not to offer tax advice, but rather to offer help arriving at the most advantageous strategies, and questions to be asking your tax advisor. I, therefore, strongly recommend you get the final guidance of your tax advisor to make sure he or she understands your unique situation and the strategy you are considering. Another resource, Motley Fool website, even goes farther to explain how you could use a partial exemption if you did not live in your house for the full two years - “if you had to sell the home due to a change of your place of employment, heath, or because of some other unforeseen circumstances”. The more information you have the better decisions you can make. With this thought in mind I also highly recommend reading

Text Box: “Since the average American moves approximately every five years, It seems this is a strategy we should all consider for providing non taxable income to our retirement needs.”

Text Box: “...you must first know how to pick the best professionals and to maximize the benefits you must know when to call on them. “