Dear ,
Hello Members! 2010 is here: hard to believe isn't it? And 2009 was so much fun. Now is the time to buckle down and get ready for a great 2010. Your success will depend on you and you alone. So make the commitment that this year will be a successful one regardless of the economy or the Real Estate markets
Starting with this newsletter you will notice a few changes. One of our members suggested that I spend a little more time on each segment of the Marketing and Real Estate sections. So after much thought, and discussions with Maverick and Dori, I have decided that each month I will concentrate on one topic (Real Estate or Marketing) and the next month I will concentrate on the other topic, tying them together to help you make bigger profits or have that 'light bulb' moment. Let's get started.
I have talked about Self Directed IRAs before on these pages and at the REIA meetings. Starting in 2010, the Government is allowing you to roll over your traditional IRA to a Roth. You can spread the tax amount owed over the next two years. You can Google '2010 IRA Roth Roll Over' for more information or you can call Entrust Freedom and ask for Dave, Brandon or Austin at 239-333-1031. You can also e-mail them at
Sincerely,
Paul J D
One of the big questions I always get asked is what type of property investments can be made with an IRA. So here is a quick list for you:
Single family and Multi-Unit homes
Apartment buildings
Co-Op
Condominiums
Commercial Property
Improved or Unimproved land (leveraged or unleveraged)
Trust deeds and Tenant in Common Interest (TICs)
The second biggest question: who and what is prohibited?
Disqualified Persons:
The IRA holder and his or her spouse
The IRA holder's lineal descendants, ascendants and their spouses
Investment advisors and managers
Any corporation, partnership, trust, or estate in which the IRA holder has a 50% or greater interest
Anyone providing services to the IRA, such as the trustee or custodian (See IRS Section 4975 for a complete list of prohibited parties and credentials)
Prohibited Transactions:
Borrowing money from your own IRA
Selling, exchanging or leasing property to your IRA
Receiving unreasonable compensation for managing property held by the IRA
Using the IRA as security for a loan
Transferring plan income or assets to disqualified persons
Lending money to disqualified persons
Extending credit on the IRA to disqualified person
Furnishing goods, services, or facilities to disqualified persons
Allowing fiduciaries to obtain or use the plan's income or assets for their own interest.
If you have any question on any of the information above please call David, Brandon or Austin at Entrust Freedom at 239-333-1031.
Their ws ENTRUST FREEDOM
a Costa an
By now you realize I am sold on using your IRA to buy real estate and improve your bottom line. And now, with the 2010 Roth rollover changes everyone should take advantage of this 'gift' from Congress. Also don't forget to set up a Roth IRA for your kids. Yes, your kids can have a Roth. Think about this: if you use your kids in your marketing and pay them (on the books!) you can set up a Roth for them. Talk to the boys at Entrust for more info.
Teresa (the boss) and I have a number of investments using our IRAs.
We have invested in notes that generate over $ 600.00 per month in cash flow. We are involved in a number of LLC's that own everything from single family homes to condo projects and a small percentage of an apartment complex. Your possibilities are endless so get started today. If you have any questions just give me a call at 941-716-2597. Or, if you would like to get involved in any of the deals I am doing, call and we can talk.
d A
Book of the Month
This month's Book is
IRA WEALTH
Revolutionary IRA Strategies
BY Patrick W. Rice
What a great book! If you every wanted to learn all the tips and tricks to make your IRA over flow with profits this is one of the best books I have read. The first few chapters are very slow, dealing with setting up your team (which Mr. Rice goes into detail about.) After that the tips and strategies never stop. I have read the book 3 times and each time I find a better way to use my IRA or a smarter way to make money. I have passed this book on to some of my friends and I suggest you get this one quickly. With the new changes coming for IRA's in 2010 you will have a chance to make your IRA sing with profits.
ssociBuy This Book Nowates INC
Quotes of the Month
While the people retain their virtue and vigilance, no administration by any extreme of wickedness or folly can seriously injure the government in the short space of four years
Abraham Lincoln
Laughter [is] the joyous, beautiful, universal evergreen of life.
Abraham Lincoln
The power of hope upon the human's exertion and happiness is wonderful.
Abraham Lincoln
