One of the things this blog is known for, is how focused it is. It’s about investing in real estate for a magnificently abundant retirement. Sure, there are one or two other vehicles I recommend from time to time, but only as part of your particular Purposeful Plan.
Also, it’s been my aim, and I think successfully, to make this blog open to honest debate, but while using the manners most of us were taught as kids. This isn’t Tombstone, this is Mayberry, so to speak. I don’t cultivate false controversy or drama here. This blog is to generate business for me, sure, but by way of education, enlightenment, and helpin’ those who would like to learn without the trauma of making real life mistakes.
I’m now expanding the info you’ll be reading here by way of adding several new authors, who’ll be contributing on a fairly regular basis. Though the following list is incomplete, here are some of the topics in which the new authors have top drawer experience, knowledge, and expertise.
I suspect by the time we hit the end of March or so, you’ll be able to read about 10-12 experts on narrowly defined topics — all of which will be related directly to real estate investing for retirement.
Have a topic you think should be covered by a narrowly defined expert? Feel free to comment, as I’d love to hear your thoughts. So far I have four slam dunk experts ready to start contributing, and who will start doing so shortly. A CPA, Real Estate Attorney, EIUL Expert, and a Lender.
Wanna talk? 619 889-7100 will get it done. Have a good one.
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Jeff –
I’m looking forward to reading the new folks.
A couple of topics that I’d like to see covered in some depth are:
1. Cost segregation for rental properties; and how the treatment of it with single family differs from that in multi-family properties.
2. I’ve done the analysis myself already, but I’d like to see an objective analysis of the decision to bust an IRA and invest the funds in rental real estate for current period cash flow to pay for kid’s private school, college, etc. I understand that the go/no go on this is highly dependent on what life stage someone is in, but I still think that it would be interesting.
More later!
Keep up the great work.
Dennis Fassett
Hey Dennis — There will definitely be a cost segregation expert here.
The analysis for go/no go on the kid’s schooling/IRA is fraught with subjectivity of the parents involved, including their stage of life. I’ll try to get that topic in soon. Great idea, thanks.
Investment income, Schedule C or S Corp? Investing in RE for retirement can be put under many categories. A discussion of the differences would be welcome.
Hey Robert — I like the suggestion, but wouldn’t restrict it to such a narrow topic. ‘Holding entities’ and the like are such a hot topic the last few years. Most folks don’t have a clue, or think one or the other is divinely endorsed.
The topic will be addressed — great suggestion, thanks.
How about some solid, concise material on real estate in IRA’s? The pluses AND the minuses – loss of depreciation tax benefits, extra expenses, etc. For example, somewhere I heard that capital gains from the sale of real estate in an IRA may be taxable. Are there situations where this is true?
Some information about book keeping/accounting for multiple properties – software specifically designed for real estate accounting and property management vs Quickbooks.
How to find a CPA that is knowledgeable about real estate investments. What questions to ask, or where to get a competent referral. Most are not very knowledgeable.
Other real estate related investments – notes, etc.
AI — Just as it’s true for both of us, if it’s done incorrectly there can be tax consequences for an IRA. It’s easily avoided. Pluses and minuses? The minuses are to be known, understood, and avoided. Anyone who can’t invest in RE thru a self-directed IRA without getting blindsided by taxes — well, let’s just say I don’t have much sympathy available. I always point out the downside to everything talked about here. This topic won’t be an exception.
I’m virtually intransigently against DIY property management. To remain consistent with that view, providing folks with the ability to manage their own stuff won’t be happening here.
How to find a solid RE CPA is a great idea, though hard work in real life, as you already know.
As always, I love your input — much thanks.
I have property managers. Not everything goes through the property managers and even if it did, it’s difficult to get a complete picture from their reports. I need a better way to account for the income and expenses, something I could discuss with my new and improved CPA as the year progresses. I think that’s true for a lot of other folks with multiple properties.
I’m not entirely clear about how the self directed IRA works. More detail, with specific examples would be helpful. The potential for unanticipated tax consequences needs some explanation as well.
I will be waiting with baited breath for the “how to find the perfect CPA” article…
That’s why I like you so much — you almost always crack me up. Even better, your humor usually has superb nuggets of wisdom embedded.
I wonder if Diogenes ever searched for a perfect CPA?
Love to talk about Real Estate Law, amnd everything else that allows me to lower my tax bill!
Best, Sam
I’ve always enjoyed your reporting on Section 1031 and find that with the industry flailing a bit, and TICs becoming scary, there are a lot retiring RE investors scratching their heads about 1031 exchanges.
I also would like to put in a vote for some more information about using IRA’s to purchase RE, I’m getting an increasing number of calls of clients that want to take advantage of the market with their IRA, but don’t have a clue.
Thank you for your blog, its always informative, thought provoking and entertaining…and I hope it manages to bring you business too..not a thing wrong with that.
John
Hey John — So happy to see you here, and thanks for the kind words.
I plan a series on real estate investing for IRA’s and the like very soon. It’s a simple though daunting project, as the information is, as you’ve implied, so layered. In the end though, as we both know about 1031s, it ain’t rocket science if ya know what yer doin’.
Please, don’t be a stranger.
Hey Sam — Like you often say, it’s about knowing what you’re doing. One of the new writers is a real estate focused CPA. He should have some superb contributions.