Loopholes of Real Estate PDF
Preview Loopholes of Real Estate
Loopholes of Real Estate Secrets of Successful Real Estate Investing GARRETT SUTTON, ESQ. Loopholes of Real Estate Secrets of Successful Real Estate Investing GARRETT SUTTON, ESQ. If you purchase this book without a cover you should be aware that this book may have been stolen property and reported as “unsold and destroyed” to the publisher. In such case neither the author nor the publisher has received any payment for this “stripped book.” This publication is designed to provide competent and reliable information regarding the subject matter covered. However, it is sold with the understanding that the author and publisher are not engaged in rendering legal, financial, or other professional advice. Laws and practices often vary from state to state and country to country and if legal or other expert assistance is required, the services of a professional should be sought. The author and publisher specifically disclaim any liability that is incurred from the use or application of the contents of this book. Copyright © 2013 by Garrett Sutton, Esq. All rights reserved. Except as permitted under the U.S. Copyright Act of 1976, no part of this publication may be reproduced, distributed, or transmitted in any form or by any means or stored in a database or retrieval system, without the prior written permission of the publisher. Published by RDA Press Rich Dad Advisors, B-I Triangle, CASHFLOW Quadrant and other Rich Dad marks are registered trademarks of CASHFLOW Technologies, Inc. RDA Press LLC 15170 N. Hayden Road Scottsdale, AZ 85260 480-998-5400 Visit our Web sites: RDAPress.com and RichDadAdvisors.com Cover design by Chris Collins | American Design Co. First Edition: May 2013 ISBN: 978-1-937832-22-3 052013 Preface and Acknowledgements The genesis of this book begins with Real Estate Loopholes, which was first printed in January 2003 (and was on the bestseller lists that summer). Then, with additional information on landlord liability, insurance, and other legal and tax issues included, it was published as Real Estate Advantages in 2006. Of note, in his Foreword to that edition Robert Kiyosaki called the real estate bubble. After the bubble burst there were many new issues for real estate investors to consider, including the importance of clear title in the wake of record foreclosures. So we have brought in new and updated material, including a chapter that questions the utility of land trusts as well as new changes in the laws of asset protection. Fair warning: Some of the chapters contain the same information as the previous editions. This is because, with all due modesty, there is no reason to rewrite what was brilliantly written the first time. But there are many new sections as well. We have incorporated up-to-date sections written by CPA and Rich Dad Advisor Tom Wheelwright on cost segregations, using IRAs for investing, and becoming a real estate professional. We have updated Gary Gorman’s chapter on 1031 Exchanges from seven years ago. And in this edition, and the reason we now call it Loopholes of Real Estate, we explore the medieval history of loopholes. I find it fascinating—and it only took me a decade to tie it together. For this new edition I would like to thank Robert Kiyosaki, Tom Wheelwright, Gary Gorman, Brandi MacLeod, Mona Gambetta, Jessica Santina, Ken McElroy and Kathy Spitzer for all your valuable contributions. They are greatly appreciated. Read The Book That Started It All Robert Kiyosaki has challenged and changed the way tens of millions of people around the world think about money. With perspectives that often contradict conventional wisdom, Robert has earned a reputation for straight talk, irreverence and courage. He is regarded worldwide as a passionate advocate for financial education. Rich Dad Poor Dad will... • Explode the myth that you need to earn a high income to become rich • Challenge the belief that your house is an asset • Show parents why they can’t rely on the school system to teach their kids about money • Define once and for all an asset and a liability • Teach you what to teach your kids about money for their future financial success Rich Dad Poor Dad — The #1 Personal Finance Book of All Time! Order your copy at richdad.com RICH DAD ™ today! Best-Selling Books In the Rich Dad Advisors Series by Blair Singer SalesDogs You Don’t Have to Be an Attack Dog to Explode Your Income Team Code of Honor The Secrets of Champions in Business and in Life by Garrett Sutton, Esq. 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