Book Description
Finding wealth through real estate investing depends upon knowledge, a good plan, andbuilding a team of advisors and mentors who can provide the expert guidance needed. By examining the three keys of successful real estate investing-selection, taxation, and protection-REAL ESTATEloopholes shows what it takes to make a real estate investment work.
Download Description
We've all seen the get-rich-quick real estate ads. There is something compelling about the idea of starting with nothing, investing just a little time and getting wealthy. It seems all you have to do is buy real estate and riches will be immediately and effortlessly yours. But REAL ESTATE LOOPHOLES shows that the real estate industry is not just a get-rich-quick game. Just as with any business venture, the key to finding wealth through real estate investing is through knowledge, a good plan and by building a team of advisors and mentors who can provide the expert guidance you need. By examining the three keys of successful real estate investing-selection, taxation and protection- REAL ESTATE LOOPHOLES shows what it takes to make a real estate investment work for you.
Customer Reviews:
Learned alot.......2006-07-07
I think that it is a good book for people who are just getting into real estate investing. It gives you information on many creative things that can be done. I learned alot and plan to use some of the suggestions and tools soon.
Plug for other products - all fluff.......2004-07-23
The authors of this book touch on many subjects, giving very little detail in any of them. The legal and accounting loopholes are very basic - and they keep referring you to other products and sites they've written/published - making this book one big commercial. In one area, when talking about the benefits of real estate investment, the fail to even mention costs associated with using equity, cash flow, repairs, etc. I am a new entrant to real estate investing, and would not recommend this book to anyone. It is no different than the get rich quick schemes you see on tv/internet.
Good for starters so you can talk the talk with your lawyer.......2004-04-13
The concepts in the RichDad series book Rich Dad, Poor Dad are basic concepts. It was a book to introduce the reader that working hard your whole life is not the way to create real wealth. In Real Estate Loopholes, the concepts for investing in real estate are pretty much the same amount of detail as in RDPD. It's a short read intended to give the reader some surface level knowledge of real estate tax advantage and legal issues to avoid by setting up LPs and LLPs. By reading this book, I'm able to ask more intelligent questions for my real estate attorney.
I'd say that it's a worthwhile read, but only if you are starting out in real estate investment and are going to be working with an attorney so you can ask follow up questions in forming your LLP that will be holding the real estate.
Worth it's weight in GOLD for the new real estate investor !.......2004-03-22
I read this book before I read the Amazon reviews. I was shocked at some of the negative comments. My recommendation is to read all of the how-to real estate books you want. When you finally decide you're going to invest, buy this book. It will save you money and headaches. If nothing else it will give you a basic understanding of ownership options and tax benefits (loopholes) that you can then discuss with a lawyer and accountant. Know what you're getting in to before you make your first offer to buy. It is the only real estate book that I am 100% satisfied with. Good luck!
Real Estate Loopholes: Secrets of Successful Real Estate Inv.......2004-03-08
E-book would not allow you to print pages for review. Difficult to read on-line. Would not purchase e-books again unless it allows an option to print out certain selected pages. Content of the book was very beneficial.
Book Description
IRS insider Sandy Botkin reveals the tax strategies you can use to increase your ROIs by as much as 20 percent-whether you're a home owner or a real estate investor. This accessible guide demystifies real estate taxes and shows how to achieve maximum benefit when buying, owning, selling, managing, repairing, and investing in properties.
- Features numerous forms, charts, sample documents, and other valuable tax-saving tools
- Gives you the basics on real estate taxes and shows how to take full advantage of tax loopholes
Customer Reviews:
How to Rip off Readers.......2007-07-23
This book is not worth the paper it is printed on. Very poor structure. Badly written in such a way that the Secrets remain so. I would not recommend this book to anyone.
It's all in the details........2007-03-17
Well written to those that want an introduction into real estate investments and provides some reasonable tax savings tips that do not appear in other tax related books. Using the example on page 98, I figure the gain net return on investment to be 4.5% instead of 31%. I used different assumptions. My assumptions are based on the following: I used $6,027 in buying closing costs. I figured fair rental value as 90% of (5% down, 30 year mortgage at current interest rate) or $1,135 per month. I figured a $45 taxable loss on the sale of the land and building since closing costs and recaptured depreciation offset gain. I figured a $5,736 loss on schedule E before I realized that hiring a property management company means that I cannot take the tax loss on Schedule E. Most of the loss was due to $4,879 in depreciation. I figured the cash flow to be a negative $1,859 for the year since I had lowered the rental income projection and added the property management fee.
Hundreds of Tax Tips re Real Estate.......2007-03-14
It should come as no surprise to you that the Federal Income Taxes are horribly confusing. They contain all kinds of special loopholds, private benefits, bureaucratic rulings and whatever that it's very difficult to follow.
This book takes one small subset of the tax code, that pertaining to real estate and pointing out literally hundreds of rulings that you probably never expected. For instance -- Interest on mortages for your home, both principal home and second home is deductable. But. What's a home? A place that 'provides basic living accommodations such as a sleeping place, a toilet, and cooking facilities.' Does your motor home, travel trailer, or boat provide such accommodations? Yes, then it's a home. What if you rent it out some of the time? She provides the IRS rulings.
The book is well written, not difficult to follow, and almost certainly can enable you to find enough deductions to cover it's fairly low cost.
Excellent Book for Anyone that Touches Real Estate and Investments.......2007-02-01
Sandy Botkin has presented a very clear analysis of the tax advantages around owning real estate. Real Estate Tax Secrets of the Rich is an excellent tool for any financial and real estate professional (CPA, CFP, Mortgage Advisors, Realtors, etc)that counsels and advises property owners and investors. I intend to make this book available for my clients as well.
Amazing tax benefits laid out in easy to understand language and examples! .......2006-12-20
If you are a real estate investor, or, better yet, if you are thinking about investing in real estate, read this book before you buy your first property!
You will be glad you did. Proper tax planning can yield you so much more money in the short and long term than you can imagine. Sandy lays out all the details in simple language and easy to understand examples. This book is worth its weight in gold! If you are new to real esate investing I also recommend that you read "Investing in Real Estate - 5'th Edition" by Gary Eldred & Andrew Mclean
Book Description
The decline and instability of the financial market has led to a white-hot market in real estate. Millions of investors are moving their money from equities to real estate. As the rate of transactions increases sellers are discovering that there are some tax surprises associated with selling real estate. The two primary tax considerations are capital gains and recapture of depreciation. Between the two, Federal and State taxes can be as much as
one third of the profit on the sale of a property. Both individual investors and real estate professionals can discover legal methods for deferring or eliminating these taxes by reading this book. Selling Real Estate Without Paying Taxes is a non-technical, plain-English look at the various ways to avoid taxes when selling real estate. It explores both tax deferral and elimination methods, discusses the pros and cons of each, and gives examples of how each method works in everyday practice. This book will be a valuable tool for individuals and professionals so that they can make the most out of each real estate transaction.
Customer Reviews:
Excellent and to the point.......2005-09-30
This book answered all my tax and property questions quickly and precisely. It was well written and perfect for someone who is not a CPA or property specialist. Highly recommended.
Best real estate tax book. Period. .......2004-09-18
I have read a number of books about real estate tax planning, and this is by far the best. It is clear, to the point, and very readable. The author goes through the basics of how a capital gains basis is calculated, rules about stepping up basis, primary residence exclusion rules, etc. He then discusses various ways of deferring or eliminating capital gain consequences via 1031, installment sales, private annuity trusts, charitable remainder trusts and Roth IRAs. The chapter on private annuity trusts is one of the least known, yet most valuable strategies that exists. Buy this book!
Great Book!!.......2003-09-10
This book is very well written; logically organized and concise. The information is priceless! For the cost of this book you could be saving 30% of your capital gains money! That's what I call positive ROI. This book is a must have!
Great Book.......2003-08-24
Explains what you need to know in a simple easy to understand format. Highly recommended. Very satisfying read!
It's Usable and easy to understand........2003-08-18
I was extremely happy to find a "How To "book that got right to the point. It is obvious that the author has "Been There, Done That".
The technical explanations were clear and thorough.
There are alot of new (to me) and interesting approaches on how to structure transactions. Annuities,IRA's etc.
Easy read,a lot of useable content.
Book Description
Strategies for lifelong, tax-free second home ownership
This book explains how to invest profitably in a vacation or future retirement home. Featuring success stories from second home buyers and often-overlooked financing options, How a Second Home Can Be Your Best Investment provides dozens of strategies and proven how-to avenues for finding the perfect home that will eventually pay for itself. Real estate experts Tom Kelly and John Tuccillo show readers how to save thousands through exchanges and exemptions and include valuable Web resources for both second home buyers and real estate investors. Readers will discover how to:
- Choose a second home and location with maximum appreciation potential
- Use a vacation home as a cash cow rental
- Subdivide a property
- Minimize the hassle factor of an investment --while maximizing rental income
Download Description
Strategies for lifelong, tax-free second home ownership
This book explains how to invest profitably in a vacation or future retirement home. Featuring success stories from second home buyers and often-overlooked financing options, How a Second Home Can Be Your Best Investment provides dozens of strategies and proven how-to avenues for finding the perfect home that will eventually pay for itself. Real estate experts Tom Kelly and John Tuccillo show readers how to save thousands through exchanges and exemptions and include valuable Web resources for both second home buyers and real estate investors. Readers will discover how to:
- Choose a second home and location with maximum appreciation potential
- Use a vacation home as a cash cow rental
- Subdivide a property
- Minimize the hassle factor of an investment --while maximizing rental income
Customer Reviews:
Great Strategies.......2007-03-29
Excellent book for strategies in tax-free investing to achieving my personal goal of living in my dream house. I bought this book with "Buying A Second Home: Income, Gateway or Investment" to better understand the tax benefits of second-home ownership.
How a Second Home Can Be Your Best Investment........2007-01-31
Great book! We own second home so I think it will be very helpful with Taxes.
Excellent Information.......2006-03-16
This book provides some excellent information regarding the topic. A must read for those who are considering investment in a second home.
Dangerous Cheerleaders.......2005-12-14
Some people need encouragement. Regarding our dreams for a 2nd home, most of us are probably stuck in ruts, not knowing how to get out. This book does a good job of helping readers envision the possibilities. Too good a job. They do not present a systematic process for realistically considering what a prospective 2nd home buyer can afford, whether this is even a good idea, the downs of investing (how will you feel after 6 months of no rent in your investment property while still paying the mortgage?) They don't have the reader ask enough tough questions before cheering them on to take this bold and potentially devestating step. Think the dot bomb was rough? How about staring a $2000/month mortgage in the face with no hope of liquidating that property that's worth 10% less than you paid for it! I recommend Investing in a Vacation Home for Pleasure and Profit by James H. Boykin instead.
Good Read, but Leaves me wanting.......2005-04-04
I like this book, but it left me wanting more. The book does a nice job framing a second home as an investment, but the tax advantages are quickly addressed in chapter two w/o a lot of detail. After one read, I get the general idea, but not all of the implications. Also, the trade-offs of depreciation are only touched on vaguely.
However, the book is very readable and uses great antidotal examples (which I found helped me understand the material better). Also, there are lots of references for additional research. This i probably a good introduction into the subject and did leave me with enough information to decide to pursue this idea of a second home a little farther.
Book Description
This guide from bestselling real estate authors de Roos and Kennedy shows you how to use tax-free retirement funds to invest in real estate. Using real estate IRAs, you can combine the tax benefits of retirement funds with the high rates of appreciation in the real estate market, growing your retirement investments by leaps and bounds. This handy book shows you how.
Customer Reviews:
The Insider's Guide to Tax-Free Real Estate: Retire Rich Using Your IRA.......2007-09-05
This book was a great surprise! I thought that I was getting another book on IRA investing, but it was also informative about a new product that I had not heard of called the Solo 401(k). Really, this book is a must read for everyone...especially for people who have reached income limits for contributing to their IRA. It is also extremely helpful with ideas of how to purchase real estate within the self-directed retirement vehicle. I used the information in this book to redirect my investment goals!
Product Description
In easy-to-understand language, you'll learn how to: Use the Six Essential concepts that are necessary for every exchange. Build on land that you already own using your exchange proceeds from your sale (so called 'Build-to-Suit' Exchanges. Make improvements to the property that you're buying or exchanging into...(Improvement Exchanges). Do construction on land that you buy in an exchange (Construction Exchange). Buy new property BEFORE you've sold your old property using Reverse Exchanges. Make sure your intermediary parks your money in a separate account to assure it's absolute safety and security in a 1031 exchange. Exchange your old property and buy into a TIC syndication and no longer have the hassles of being a landlord! Turn your investment property into tax-free cash! Or, how to build a financial legacy for your heirs with little or no tax by using Section 1031!
Customer Reviews:
Quick, Concise Guide to educate yourself about the 1031 exchange process........2007-01-17
The author keeps using the term "do this exactly as the IRS states... or your exchange will be toast". He gives explicit advice such as BUY the replacement property within the 45 day ("list") window after selling the old property (instead of the allotted 180 day window) to help ensure the acceptability of the tax-free exchange process. Good solid advice to save lots of money.
Exchanging Up.......2006-08-17
Great book. Puts exchange into easy to understand concepts. Also provides detail on more complicated exchanges. Helped me a lot!
Thanks
A Senior's Opinion.......2006-08-16
Real Estate has always been my favorite investment. Deferring Taxes is also good. The book - "Exchanging Up" ties both together. With the clearly written information therein, I have closed at least Three "1031" real estate transactions,without fear of any IRS confrontations. The book removes the mystery of Taxing Authority"s 1031 Provisions.
Incredible.......2006-08-16
This is a great resource of information. I sell real estate and often work with customers doing 1031 Exchanges. I refer to this book often throughout many transactions.
Educate the Builder.......2006-08-16
I was already somewhat familiar with the material in the book. However we are using a 1031 to build another investment property. I gave my copy of the book to the builder as he was totally unfamiliar with 1031's and what we wanted to do. Gary's book brought the builder up to speed with what we are trying to do. It helped greatly in answering any of his questions and gaining confidence in the process we needed to go thru for the "Non-Safe Harbor Reverse 1031 Construction Exchange" we needed to do.
Book Description
Advanced praise for Transfer Pricing Methods
"Feinschreiber and a team of renowned executives have provided the definitive transfer-pricing guide to this challenging area. At a time when many companies are reviewing documents, policies, and procedures, it's wonderful to have a concise, clearly written reference focused on what may be the most critical corporate tax issue."
-Charles R. Goulding, Managing Director, Tax
Cooper Industries, Inc.
"It is refreshing to find a treatise on transfer pricing that combines practical business considerations, economic theory, and a discussion of technical tax rules in a way that is meaningful not only for large corporate enterprises but also small and medium-sized businesses."
-Vikram A. Gosain, JD, CPA, Director of Transfer Pricing
General Electric Capital Corporation
"This well-written book will be useful both to attorneys new to the practice area and to older hands. It includes very helpful discussions on valuation issues that will be particularly useful for in-house counsel and accountants."
-Joseph C. Mandarino, Partner
Troutman Sanders, LLP
"Feinschreiber and his contributors have cogently explained hundreds of useful facets in the transfer pricing field that have taken others volumes to articulate. The busy professional should consider this book in his or her quest for knowledge in the scintillating tax specialty."
-Charles L. Crowley, Partner
ITS/Customs and International Trade Practice, Ernst & Young, LLP
"Transfer Pricing Methods . . . should become a standard tool for every owner-managed and mid-cap multinational."
-Enrique MacGregor, Principal-in-Charge, Transfer Pricing Services
Grant Thornton LLP
"Bob's vast experience in transfer pricing matters has again been captured between the covers of a book. Thank you, Bob, and your contributing colleagues, for producing another valuable helpmate."
-Alan Getz, Vice President and General Manager, Tax
Mitsui & Co., Inc. (U.S.A.)
"Feinschreiber's current publication is a practical handbook that presents transfer pricing tools that can assist tax professionals of mid-sized companies to optimize profits, manage cash flows, and moderate taxes in a defensible manner."
-Per H. Hasenwinkle, National Practice Leader, Transfer Pricing
BDO Seidman, LLP
Download Description
There has never been an easy-to-use and convenient book that addresses salient and fundamental transfer pricing issues . . . until now. Designed to specifically assist mid-sized businesses facing transfer pricing issues now and in the future, Transfer Pricing Methods is a comprehensive guide that provides in-depth coverage of various transfer pricing methods and applications that are available to today's mid-sized corporations. An invaluable reference for all tax managers, CEOs, and CFOs, Transfer Pricing Methods provides a practical focus on the techniques available and their consequences. Featuring contributions from industry experts, complete coverage includes: Comparable profits methods Cost sharing Transactional net-margin method Adjustments of interest rates Resale price techniques Benefiting from the cost-plus method Market share Organisation for Economic Co-operation and Development guidelines Life-cycle analysis Use of multiple-year data
Book Description
Increase your real estate wealth by deferring your capital gains taxes
The 1031 Tax Advantage for Real Estate Investors is a highly accessible guide to making the most of this powerful option. Timothy Harris and Linda Monroe bring their practical knowledge and legal expertise to the complex topic of tax-deferred “like-kind” exchanges, explaining the intricacies of 1031 in jargon-free language and dispelling common misconceptions.
Framing their approach around their clients' most frequently asked questions, the authors present detailed, step-by-step advice on all the required elements for a successful exchange. Through clear explanations of necessary tax concepts as well as example situations of actual investors, you'll learn how to:
Determine how much to reinvest in an exchange
Use the IRS identification rules to your advantage
Understand exchanges involving related parties and the implications of seller financing
Use real estate proceeds with NO tax consequences
Navigate the complexities of personal property exchanges, refinancing of exchange property, and exchanges done in reverse order
Handle earnest money deposits, and prorations
Take advantage of tax-deferred investor pools and TICs (Tenant-in-Common) benefits
Book Description
A must-have guide that enables managers and trustees of private foundations, as well as their lawyers and accountants, to successfully navigate today's increasingly complex tax laws and reporting requirements
Private foundations are the most regulated of nonprofit organizations. Burdened with laws written over thirty years ago, which have become more complex and intricate, private foundations are forced to operate in a harsh legal environment. An operational or reporting mistake, no matter how innocent or inadvertent, can lead to immense tax and other penalties.
To reap the charitable, tax, and other economic advantages of private foundations while avoiding the perils lurking in the myriad of tax-law traps, you must be fully informed about the basic legal requirements and the many subtleties and current developments affecting private foundations.
Written by two of today's leading authorities on the laws regulating private foundations, The Legal Answer Book for Private Foundations provides this critical information in an efficient and comprehensible fashion. In clear, easy-to-understand language, the authors provide expert guidance on everything from how to set up a private foundation to how assets are invested, how funds are distributed to grantees, and how to avoid self-dealing.
You'll find answers to such critical questions as:
- What are the legal definitions of private foundation and public charity, and what constitutes a disqualified person?
- Just what are the private foundation rules and what are the penalties for violating them?
- What assets are involved in the calculations of the mandatory payout requirement?
- How are self-dealing rules avoided?
- What is an excess business holding?
- Do foundations have to file annual returns with the IRS?
- What are the alternatives to private foundations?
With the increasing opportunities for the establishment of private foundations, The Legal Answer Book for Private Foundations is an invaluable resource that is mandatory reading for anyone contemplating creation of a foundation or managing or advising an existing foundation.
Book Description
Real estate investment strategies that put the gold in the golden years
This accessible, easy-reference guide shows how to turn a retirement savings plan into a tool for generating major income. Hubert Bromma, an experienced investment professional in real estate and retirement funds for nearly 30 years, take you through the basics of investing with retirement accounts, from choosing the right plan to buying real estate. The book also includes information about the various retirement options, including IRAs, Roth IRAs, individual 401(k)s, and more.
Customer Reviews:
Informative but not Objective.......2007-03-21
Written by the top officer of Entrust, whose business is to manage self directed IRAs, this book is not to be taken as an objective analysis of the benefits and drawbacks of buying real estate within a self directed IRA. Although never actually lying (I'm sure Entrust's attorneys made sure of that), it avoids the topic of fees and lack of control, that are involved in maintaining any real estate investment within an IRA. It also doesn't mention any of the costs of setting up an LLC with one or more members. Setting up an LLC is a likely scenario and was, in fact, recommended to me, by Entrust. Buying real estate within an IRA is very different than doing the same investment outside of an IRA. Given the fees involved with this type of investment, what would be the minimum investment recommended to absorb these fees/costs and still realize an acceptable return? No answers here. Examples of returns are unrealistic in today's more normal market conditions. The author does make some good points, and the concept is really great. But buyer beware. I was so disappointed to come to the conclusion that buying a $350K investment property, using the required non-recourse loan with a higher rate, and setting up an LLC with 2 members (the bank and my IRA) was too complicated and restrictive. This book is an excellent starting point, but the drawbacks either aren't mentioned, nor fully addressed. Basically, the author is selling. Remember what he does for a living. Get your highlighter out and read carefully!
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General
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Real Estate Riches: How to Become Rich Using Your Banker's Money
Rich Dad's Advisors®: The ABC's of Real Estate Investing: The Secrets of Finding Hidden Profits Most Investors Miss (Rich Dad's Advisors)
Own Your Own Corporation: Why the Rich Own Their Own Companies and Everyone Else Works for Them (Rich Dad's Advisors)
Loopholes of the Rich: How the Rich Legally Make More Money and Pay Less Tax
Rich Dad's Guide to Investing: What the Rich Invest in, That the Poor and the Middle Class Do Not!
