Rich Dad advisor Garrett Sutton talks about the loopholes of real estate investing, discussing financial tax and legal advantages of investing in. Investing in real estate is as easy as understanding the tax code and personal- injury law, according to this informative but daunting primer, part. Whether you’re buying your first home, or adding another multi-unit apartment complex to your vast real estate portfolio, Garrett Sutton’s book is.
|Published (Last):||28 November 2011|
|PDF File Size:||3.51 Mb|
|ePub File Size:||12.29 Mb|
|Price:||Free* [*Free Regsitration Required]|
There is a world of real estate investing that the average investor rarely sees. Most people see the dirt, the bricks and the quick flip, or even the monthly cash flow. There is so much more.
When I started investing in loopholfs estate I did it just like most lawyers did, I bought low and sold high. I did not understand the specialness of real estate, the advantages that exist through loopholes the government has created or allowed to exist.
When I met Robert Kiyosaki I began to look at real estate as he did. I began to see the tax loopholes that made real estate great and the legal loopholes that required xutton attention to close in order to keep you and your property protected. I came to better understand the bigger picture of the world of investing. Robert taught me to see real estate as an investor, not just a lawyer.
I wrote my new book, Loopholes of Real Estate to share these secrets. I wanted to share the loopholes that allow successful real estate investors to do it so well. You just have to be willing to follow a proven path toward success. Basically, you need to be smart about following what others have used to their advantage before you.
Most of you who know Rich Dad understand the importance of real estate for your financial freedom. But how many of you actually invest in real estate? Loophole of Real Estate gives you the knowledge you need to overcome your fear. This section instructs how to create an investment plan, assemble a team of advisors, and choose investments.
In this blog, lets discuss your real estate game plan. And the answer is, with taking a good, hard look at your financial affairs in order to develop an accurate, comprehensive financial report card. Start creating your financial statement by developing an income statement that lists your monthly income and expenses.
To get a free income statement form go to: Your personal financial statement will bring your financial goals into sharp relief.
Loopholes of Real Estate : Secrets of Successful Real Estate Investing
It may lead you to form a plan to decrease expenses or increase income. Some decide to downsize their homes in order to free up some money for investment, while others may opt to rent out their existing home and move to a smaller home to generate cash flow, increase passive income and decrease expenses.
Only you can decide how to address your financial situation. Passive income is the suggested method for growing wealth. What would a reasonable monthly passive income goal be? From there, perhaps, you might decide that within ten years you want to have five rental properties. Beyond that, you have other decisions to make: The following are your numerous real estate options: Each of these has its own choices as well—apartment complexes vary in size, so are you interested in unit complexes,or more?
Starter- market or high-end gated communities? High-rise office, strip-mall retail Then you must decide where you want your properties to be.
Are you looking for properties nearby in your town, in a neighboring town, in another state, near water, urban, rural? Now, what will you do with the property? Will you focus on estzte and capital gains? Will you follow the Rich Dad strategy of buy, hold, and rent, earning both appreciation and cash flow?
For instance, you might become an expert in buying, holding, and renting small, one and two-bedroom apartment buildings in a particular area of town. Perhaps you used to live in an apartment in that area years ago loophooes understand the needs of that community and that type of resident. As you become an expert in one investment area, you will be more apt to learn another area quickly. When you assemble your team of advisors, one of them will be your real estate agent.
For example, he or she might specialize in duplexes, but not strip teal. So by sticking with one sector, you can retain the same team of advisors without having to seek others. Get educated and follow these steps to getting started and garregt that leap of faith. I wrote Loophole of Real Estate to help overcome fear and lack of knowledge, but you have to be the one who does it.
The firm represents many esgate, limited liability companies, limited partnerships and individuals in their real estate and business-related law matters, including incorporations, contracts, and ongoing business-related legal advice.
The firm continues to accept new clients.
Loopholes Of Real Estate Investing with Garrett Sutton
Garrett is also the owner of Corporate Direct, which since has provided affordable asset protection and corporate formation services. How to Choose the Right Tax Advisor. The Gift of Budgeting Well. Business Growth Begins with You. Join Our Fo —1.