How To Use Your IRA To Buy Real Estate

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In life there are a lot of things we learn by accident, which can be very beneficial to us. Sometimes understanding these processes can take a while. Sometimes after proper explanation ...BLAM, you get it. That is exactly what happened to me. When I first heard about the topic, I will discuss in this E-book, it was perplexing, however, I knew that it could reap huge rewards in the future. It took a while for me to understand the process. I remember trying to tell a buddy who owned an apartment building about _ _ _ _ _ _ _ _ _ and what it could do for him. I remember getting it all confused (like telling someone a good joke, but while you are trying to say the good joke in mid sentence, you realize that you don't remember it all and it is not coming out right, so you just sayforget it because you are screwing up the joke). Fortunately, by mistake I came across the company Pensco Trust who has educated me on this great opportunity of _ _ _ _ _ _ _ _ _ _ _ _. I am considered one of their "Preferred Professionals." My learning curve is your benefit. Enough with my teasing games, the purpose of this E-book is to educate you on Self Directed IRAs. So buckle up!

This publication is made to provide basic information in regard to Self Directed IRA 's. It is presented with the understanding that I am not engaged in rendering legal or accounting advice. If you need legal advice services of a proficient professional should be contacted. I can not in any way guarantee that this material will be properly used for the purposes intended and I assume no responsibility forits correct and proper use.

We all know that Social Security (SS) is struggling and the money there will eventually disappear. Prior to 1935 there was no personal SS. All that existed were people saving their money in their bank/under the mattress. SS was created In 1935. Remember that this was the same time period of the Great Depression. Keep in mind the life expectancy was like back then 62 years old. Now it is 76. Baby Boomers make up a huge portion of the population. Baby Boomers are retiring everyday. You want some hard facts? Well according to Research Corporation Study: The New Landscape of IRA Rollover BISYS Retirement Services © 2005.

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How is How To Use Your IRA To Buy Real Estate

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or The first of the baby boomers reached age 59.5 in July 2005

4 million or more will reach age 59.5 eachyear

or 24 million people will reach age 65 by 2010

or 55% plan on to work after "retirement"

Now on the flip Let's say there was no problem with SS. Have you ever talked to someone who gets SS checks? They don't get a lot of money. It is sad sometimes. I am not trying to offend anyone, but the majority of the older people you see at Wal-Mart greeting you and marking your receipt didn't have a "nest egg" to rely on when they "retired". The topic I will discuss will prevent that from ever happening to you and I.

1974 congress created IRA (Individual Retirement Account) to supplement Social Security. We know these are programs to help shelter money away for tax benefits. Typically people go after the traditional investments. We always hear about stocks, bondsand CD ' s. Yes all investments have risks, but the thing about these investments is that you can not affect the outcome of the business/your return. You are a spectator, watching the game. Also, you can't use leverage (an example of using leveraged will be discussed later). Also, with stocks if any little blip in the market occurs, like oil, war, scandal, etc. your value could go down. Real estate does go up and down but generally you don't lose all of your money in worst case scenarios. Real estate appreciation has kept peace or exceeded inflation. It is a cycle. When it goes down, the value does not go down instantly (like Enron).

Self Directed IRA (SDI) an overview. Now I am not bashing stocks, I have them, if you talk to any financial planner, they will tell you to always bediversified in your investments. This is what SDI does for you. Ideally you should have SDI stocks, bonds etc.

SDI has been a well kept secret. Why? I think it is because of ignorance, and I also the folks on Wall Street don't benefit. A broker at an investment company will not tell a person about it, because they can't make money off of the transaction (let alone having them understand how it works). The last reason is because there are "professionals" who don't have a clear understanding on its use.

To get to SDI, you would either have to go through an Administrator, or a Custodian.
What is an Administrator? Banks, brokerage firms (like Charles Schwab) and insured credit unions.

What Is A Custodian?
There are very few self-directed IRA/401k custodians inthe United States. In order to be a custodian for self-directed products, the custodian is known as a "passive" custodian. " This simply means that they are obligated by law to provide only custodial and administrative services for the qualified plan. They can provide NO investment advice. This tremendously reduces the fees associated with traditional investments because you, the investor, make all of the investment decisions. They are also FDIC insured.

What is the role of the custodian

or Holds your IRA assets

or Performs all IRA transactions

or Keeps all WRATH records

or Provides all required IRS reports

or IRA plan Keeps in compliance

or online access Provides access

There are only three things your SDI can't invest in and theyare

Collectibles/antiques or

or Life insurance

or Stock of a sub chapter "S" corporation (these are companies that are traded publicly on the stock market)

As long As the transaction is for investment purposes and you have not created a "prohibited transaction" (will discuss later) the list of investments are endless.

The beginning of a long list of real estate you can buy with your SDI

or Foreclosures, Options, Pre-construction, raw land, apartments, offices, strip malls, Mobil homes, public storage, any type of investment property

or Trust deeds & mortgage notes

or Privately held C-Corp stock, LLC membership
.
The rules on prohibited transactions

Cant buy or sell from or to a prohibited person disqualified/

or Cant makepersonal use of property

or Cant use SDI as collateral for a personal loan

Personal use prohibitions

You can't personally use a vacation home. Even if you rent it out for 354 days and spend one day in it, this is illegal. You can't perform maintenance on the property. You can hire a maintenance crew using the money coming out of your SDI, but you can't physically work on the property. You also can't hunt on raw land, dock boat at a SDI owned boat slip. There was a person, who worked with Pensco, that bought a specific area of a water fishing spot in Alaska. The person, couldn't fish there, so she leased out the area to other fishermen and received profit.

More on disqualified persons

You can't buy from a person providing services to the investment. It hasto be a clean slate. It can't be business between employer and employee. If you have your SDI in an LLC and you want to buy property, you will not be able to if you own more than 50% of the company. You can't buy/sell to a member of your family including spouse, ancestor, lineal descendant and any spouse of a lineal descendant. Meaning, not you parents, children, your son in law etc. But, you can buy/sell to a sibling. There can't be a sale/exchange/lease of any property or providing a loan between a plan and a disqualified person. Lastly, you can't buy something you already own (SDI can't be used for funds to pay off your mortgage. There should be no direct or indirect personal perceived benefit to the account owner).

Basic rules

or can't involve the account holder,his/her spouse a lineal ascendant/descendant of family nor the spouses of your children and you can't use SDI funds to pay off a personal mortgage

or can't make personal use of property (must be for investment purposes only)

or can't personally guarantee the loan for your SDI nor use the SDI as collateral for a personal loan

or can't work for or take income from an SDI investment

or can't have your spouse, nor your family members (your siblings are ok) own the property prior to its purchase by your plan

or can't have your business lease or be located in or on any part of the property while it's in your plan. You may receive any property as a distribution from your plan as a retirement benefit

What transactions are prohibited?

The following are definedas prohibited transactions when they involve the account holder:

or Borrowing money from the SDI

or Selling property to the SDI

or Receiving unreasonable compensation for managing assets for the SDI

or Using the SDI as security for a loan

or Buying property for personal use with the SDI

Collectibles/antiques or

or Life insurance

or Stock of a sub chapter "S" corporation

50% rule

If a disqualified person (s) owns 50% or more regular thing of an entity, then the SDI can't engage in a transaction with the entity because the company is considered a disqualified person.

Using IRA as collateral

You can't use your SDI as collateral for a loan. If you will get a loan it must be an unsecured loan. If you default in paying the loan,the lender can't go get the money out of your ANGER, nor can they go after personal assets.

Any type of prohibitions have penalties, if you violate them. SDI is no different. Here are the consequences if you do not comply:

or Loss of IRA status resulting from prohibited transaction

or Loss of tax exempt status

or Income tax on account value

or Penalties and interest

or Possible audit to determine extent of prohibited transactions

If you really want more information on the rules check out:

or IRS code 4975

UBTI/UDFI or IRS code: 598

or Department of Labor (DOL) 2004-8

Tax court cases

o Swanson 1997

o Rollins 2004

Rousey v. Jacoway or 2005

Ways to invest by using your SDI

or Property purchase allcash

or Property purchase using a loan (NOTE this has not always been the case where you can get a loan from a bank for your SDI. These past couple of years a few establishments are offering loans to SDI. I have those contacts, contact me and I will explore options for you)

or As a member of an LLC or "C" Corp.

or As a lender on a trust deed (mortgage notes)

or As a partner in a joint venture

or As a Tenants in Common T.I.C. member (if any of the terms I use are unfamiliar to you, look them up online)

or Make a private loan to an entity or person (hard money loans)

To give you ideas of what investors have bought through Pensco:

or Largest US massage school

or Cypress tree farm in Costa Rica

or Fish farm in Salinas, CA

or Interestsin movies, plays

or Condo in Lithuania

or House on a private lake in Colorado

or Thoroughbred race horse

or Nudist resort in Virgin Islands

or Over 35 U.S. banks

or B & B, Napa Valley

or Biotech company

Pensco's top investor success story is going to amaze you on the potential your SDI can have. In March of 1999, four men opened up SDI accounts. They each invested individually and through their IRA's in a company they were starting. They brought in other unrelated investors. That company is bought out a couple of times. The company goes public and sells out in June 2002. Well how much did they make? CEO made $ 34 million (12.000% return). Chief scientist made $ 22 million. CFO make $ 17 million. Marketing VP makes $ 8 million (4.000return) "What is better than that? They all invested $ through their IRA's except the CEO who invested ,800. Pensco explained the features of the 1 year Roth IRA and they all chose to invest with a Roth IRA. If the CEO gets an average return of 12% until he is eligible to withdraw tax-free at 59.5 he will have $ 1 billion, $ 100 million tax free! Yeah that is right ... show me the money!

Let's compare
Real Estate Investing-with SDI

or Tax deferred growth on income and cap gains

1031 requirement or not!

or No annual tax reporting

No SDI Taxable investments

or cap gains Tax deferred (if 1031)

or Tax on net earnings

or Annual reporting required

How it works

You have an account with Pensco (you can roll over your current IRAaccount to them) you tell them what you want to invest in, they do all of the paper work, make out the check and now it is in your trust account. All money that is needed for expenses and all profits go into/taken out from the trust account. The title of The property in your IRA will be held with Pensco Trust as follows: "Pensco Trust Custodian, FBO (client name), IRA (Acct #). All documents will be reviewed and initiated by the you (the IRA owner) and signed by Pensco Trust.

Introducing SDI on steroids in the neck ...Only 401 (k)

Only (k) is a combined salary deferral and profit sharing retirement plan for sole proprietors, small business owners with no employees (other than part timers working less than 1.000 hours per year or their spouses).

Roth contributions canincrease tax-free $ 15,000 to% 20.500 per year or 30 k to 41k for married couple (for 2007). Unlike a Roth IRA, there are no income limitations placed on the contributor. You could be a zillionaire and it would not matter! Currently a single person making over 110 k can't contribute to their Roth married couple is 160 k.

Who can benefit from Only (401) k

or Real estate brokers

or Consultants

or Contractors

or Lawyers

or Electricians

or Any sole practitioner

or Even if you work full time for an employer and have a business on the side where you are a sole proprietor you can establish only K

The difference is ...

or You can borrow up to 50 k (or up to 50% of balance, if less) from your Solo 401 k

or You can invest in lifeinsurance

or You can invest in "S" corporations

or You can avoid capital gains UDFI and UBIT (UDFI and UBIT will be discussed later) when using leverage to buy real estate

or A portion of your savings can grow tax-free for life

or You can put away more money faster with larger contributions

or No income cap on contributing to the Roth component

or Above 50 year old employee has the option to put up to ,500 per year away, to grow tax free

Why appealing

sole proprietor or Allows the funds to grow tax free

or While Roth IRAs allow similar contributions they are limited to $ 4,000 in 2007 ($ 5,000 if over 50), and to those earning annual gross income of less that $ 110,000 for that year

or You can increase tax free growth opportunities byalso contributing to a Roth IRA ($ 4,000-$ 5,000) in addition to the Solo (k) (15.500/$ 25,000), if you are eligible (check with Pensco for details)

or A married couple in business together can put up to ,000 (,500 each) per year of after tax money into retirement accounts that will grow tax-free for their lifetimes and those of their heirs (including $ 5,000 Roth IRA contributions) and another ,000 (,500) each that will grow tax deferred. That is a total of $ 110,000 as a couple of which ,000 will grow tax free (assumes each is over 50 and earns less than $ 100,000

or And there is no income limit on contributions

or May roll pre existing plans and IRAs into it

Types of purchases of SDI

All cash

Your SDI buys one property to cash. No debt,LLC, and partners. When you do this your SDI needs to have enough funds to cover purchase price, all closing costs, custodial fees and ongoing property expenses. If you run out, you can loan your personal money to your SDI (with interest and principal).

Multiple SDI-All cash T.I.C.

SDI may belong to anyone-even prohibited people. All SDI go on contract, and on title, as "tenants in common". Ownership percentage must be identified and all costs and proceeds prorated correctly according to these percentages.

Multiple Parties-IRAs & People all cash T.I.C.

Same as multiple IRAs, as long as there is no loan (as an all cash deal) it does not matter who the SDI belongs to, or who the people are. All names must be on contract and title for uniquepercentages.

All cash

Buy/sell, with/without, friends/family is by far the easiest and most common transaction. When this happens all income comes back to SDI, so having a1031 exchange is not required to defer taxes. The money in your trust account is also used to pay any expenses incurred. Real estate investment related expenses are paid out of the SDI.

Getting a loan to buy

In the past there were NO banks lending to SDI. Until recently Only a few banks in the nation to offer this service. The loan that is offered is a non-recourse loan. This is great news, because now investors could use leverage.

When you get a loan for your SDI you:

or can't guarantee the loan personally.

or can't co-invest with your IRA.

or Pay the tax on any income orcapital gains derived from leverage.

or Increase the returns and growth of your SDI two to three times.

What is a "non-recourse loan?"

or You are not personally liable for repayment of the loan. In the event of a default/foreclosure the lender can only recover the property and your equity.

or Typically requires 30-35% down payment. If there is low cash flow or the condition of the property is bad then they may require a larger down payment.

Non-recourse loan process

or After setting up the SDI, it will typically close in 30 days.

or Cash out refinance: funds are distributed back into the SDI.

THERE IS NO PRE PAYMENT FOR A NON-RECOURSE LOAN!

Property Eligibility

or Single family residential

or Condo's (100%, 33% or moresold, and HOA turned over by developer)

or Duplexes

or 4-plexes

or multi-family (5 or more)

or Commercial property: including retail, warehouses, and office buildings

Ineligible properties include:

or Residential with large acreage

or Raw land

or Farms

or Manufactured homes

or Hotels, condo-hotels

or co-ops, timeshares

or Senior or assisted living facilities

or Non-franchise restaurants

or Entertainment properties

or Mini-storeage

Requirements for debt financing must be verified for purchase along with reserves (10-20% loan amount).

Documentation required for loan approval:
1. Completed loan application

2. Most recent asset statement verifying IRA assets for purchase andreserves.

3. Purchase sales contract

4. Acceptable real estate appraisal for the property to be financed. The appraisal must come from lender.

5. Copy of drivers license

6. Property insurance should read the IRA/LLC as the insured

Income requirements for homes

or The financed property must generate sufficient net operating income to exceed debt service payments by: 10% single family (less then 10% or negative cash flow is acceptable with sufficient reserves on SFR). For 2-4 unit properties it is 10-15%

or IRA assets must be verified for purchase along with reserves

How the closing process works:

1. Title company prepares closing documents.

2. SDI owner initials for approval.

3. Originals sent to Pensco for execution by thetile company or broker.

4. Pensco notarizes signs, and returns package. They overnight and wire balance of funds for closing.

5. Title company forwards recorded grant deed to Pensco.

6. Through your trust, you now own the property.

Another way to invest using IRA

This is a true story from a Pensco client. One investor wanted to buy a property in San Francisco. They buyer didn't have all of the money for a down payment. So, he approached his friend and asked about him if he was interested in earning a certain percentage return on his ANGER. He agreed. So, the buyer took his portion and combined it along with his friends SDI, to purchase the property. His friends SDI issued him a second on the property. This created a "win" situation for everyone. Thebuyer gets the property. His friend gets a great return on his ANGER (that is secured by real estate) the sales agent wins because the deal closed. The owner of the property is happy, because they sold the property. The bank is happy because they are making a return by giving a loan. All of this is possible because the SDI was used.

There was another person, who used his SDI to buy pre construction property. In Las Vegas, there was a developer who was forming a community. The investor approached the developer and solved a problem for them. Apparently there were some fall outs with buyers. The investor, said (paraphrasing) "I will buy any homes that fall out of escrow for a discount."

If you would like to read upon an investor who used their SDI, look up Time: June 14th2005. Investor used 5,000 to invest in property on Marco Island FL. Sold a $ 500,000 profit resulted in going directly to IRA

Rental property purchases

Question:

I want to purchase a rental property for $ 100,000 can I use:

or a. $ 30,000 of my IRA funds

or (B). ,000 of my personal funds

or (C). $ 5,000 loan from my brother to do this?

or (D). All of the above

or Answer: D

In the begging of this E-book, I expressed that using SDI has been kept a secret. One of the reasons is because of misinformation from "professionals" is from CPA 's. Some CPA's say not to use an IRA to invest in real estate because:

or You will lose tax benefits e.g. depreciation (not quite)

or Using SDI "destroys" tax deferred compound growth in IRA(wrong)

or You have to pay ordinary income tax versus tax capital gains at the end of the line (true just like any other IRA investment)

Some CPA view points do not take into consideration the following:

or They do not address the need for diversification in the retirement portfolio to hedge against other assets

or Broadly implies that even if you know that you can get better results investing in real estate through your SDI you shouldn't do it

or It is IRRELEVANT if out performs other real estate IRA investments

or IGNORES the facts that 44% of net worth in the US is in real estate

or Does not recognize that after tax yield is the primary goal of the investor

Unrelated Business Taxable Income (UBTI)

If your SDI produces income from activity not"substantially related" to the exempt status UBTI comes into play. The purpose of UBTI was to alleviate unfair competition by exempt organizations with taxable enterprises. Basically when you conduct business and it is not passive income, you come across UBTI. Further explanation; if your SDI is going to open up a restaurant, you are going to have "ordinary income. The IRS feels that is fair that you pay tax on the money you make everyday. Because it is not fair for you to open up a restaurant and for someone else to open up a restaurant down the street, but you don't pay tax. If it is "ordinary income" UBTI applies. If it is passive income UBTI does not apply, such as rent, interest and capital gains.

Unrelated Debt Financed Income (UDFI)

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Royalty Real Estate - Castles in Scotland

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Houses For Rent In Gainesville Fl - Royalty Real Estate - Castles in Scotland

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Scotland has a very tumultuous history and this is reflected in its castle heritage. With over a thousand castles or castle ruins to be discovered in the Northeast of Scotland there is a huge wealth of history to discover. Scotland boasts an amazing collection of castles, towers and fortresses each depicting its own personal experience through Scotland's turbulent past; from tales of horrific battles to walking though pretty estates. Some stand as great symbols of grandeur and are impressive breathtaking structures such as Edinburgh castle, Stirling Castle and Eilean Donan. However Scotland is also dotted with less opulant examples such as Urqhuart Castle which is situated perfectly on the banks of Loch Ness and can be found in a more ruinous state, but still with great beauty and appeal.

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Edinburgh Castle is obviously one of the most impressive castles in Scotland, housing the Crown Jewels of Scotland, the one o'clock gun, the stone of destiny and the National war museum of Scotland. As a major scottish icon recognised across the world, there is plenty to see and do including just simply appreciating the spectacular views across Edinburgh. The castle itself has a very complex building history with specific areas dated from the 12th century through to the 16th and World War One.

One Architypal Scottish Castle would have to be Eilean Donan Castle, ruined in the 18th century by a Jacobite rising and restored to its former glory two centuries later, it is certainly a very photographed and appreciated castle. Its striking location lends it to be one of the most beautiful castles in Scotland. It is positioned on an island at the point where three great sea Lochs meet, providing it with stunning views and majestic surroundings lending itself to being one the most visited attractions in the Highlands.

A third castle of interest is Urqhuart Castle, which although still holding its impressive nature, is a ruined castle situated beside the Loch Ness. In its day Urqhuart was a majestic and remarkable stronghold for medieval Scotland because of its position on the headland looking out on Loch Ness, however after being blown up in 1692 to prevent it becoming a Jacobite stronghold the castle was left in ruin with only its tower left standing. You can visit the castle today as well as its National trust visitor centre which is run by Historic Scotland, it includes a restaurant, exhibition and film show about the Castle and its remarkable surroundings.

Stirling Castle is truly a extraordinary sight perched high on volcanic rock with views over the old Scottish battlefields and Stirling bridge. There is definitely an air of royalty and prestige about the castle as many of Scotland's royalty used to revel in its delights just the same as visitors can do now. A very interactive visit can await anyone coming to Stirling Castle, from creating your own coat of arms to painting your own stirling head. The castle includes many buildings including the James V Royal Pace which has recently be restored to its beautiful renaissance glory.

Scotland's castles have brought alot of tourism into the country with every castle bringing out visitor'simaginations and inspiring them to look into their history and heritage, this makes them one of the most popular attractions in Scotland. Aberdeenshire is home to Scotland's only castle trail, consisting of 16 castles, stately homes and fortresses, you can travel from one to the other, discovering the romance behind Scotlands most impressive homes.

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What You Should Know About 'As Is' Real Estate Contracts

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Condos For Sale In Gainesville Fl - What You Should Know About 'As Is' Real Estate Contracts

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Do you know about - What You Should Know About 'As Is' Real Estate Contracts

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As is real estate contracts can be a very potent recipe for a disaster, unless you know exactly what they mean what you are getting in to. Those two simple words actually make a lot of difference and ignorance is usually the main reason why people lose money over as is contracts.

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How is What You Should Know About 'As Is' Real Estate Contracts

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Let's first explain what the term 'as is' on any legal contract stands for. The term 'as is' when used as a legal term signifies that the property that is being referred to in the contract or the document is being sold/purchased in the exact condition it is and no further amends, repairs or additions will made to the property by the seller. So once the property is sold, the seller is absolved of all responsibilities and no claims can be made based on defects, damages, etc.

So, as we all know all to well by now, the main risk in buying an 'as is' property is the potential loss from having to make too many repairs. Properties that are sold as is are sold that way for a reason. There are usually damages and problems caused by many factors like neglect and old age, which need to be repaired. When a buyer is signing in to the purchase, there is no turning back.

So the steps that need to be take should be taken in advance when the 'as is' contract is being made. The buyer should ask the lawyer to include a clause or a condition via which the contract may be terminated during an inspection period. This period is also referred to as the option period and in some states, the buyer can legally back out of the deal at any time without having to show any reason at all provided that the provision was already there in the original contract.

The seller does not lose anything here either, because a non-refundable option money is paid for this period that will not be returned if the buyer decides to terminate the contract. However, if earnest money has been paid then that amount will be returned to the buyer. During this period, the buyer is free to inspect the home as he pleases. If the buyer chooses to cancel, it has to be done within the inspection/option period, beyond which the contract cannot be gotten out of that easily.

Another related aspect here is the home inspector who is often hired to give an opinion about the state the home is in. Sadly, many have lost a lot of money due to fraudulent individuals claiming to be professionals. So do not always trust a home inspector and make sure that you get someone who has at least some reputation and training to show. Another important thing to remember is to get a competent lawyer who has had ample experience in the field. And make sure you read the contract thoroughly and understand it fully before signing it.

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Real Estate Math - Do You Know These Simple Formulas?

Houses For Rent In Gainesville Fl - Real Estate Math - Do You Know These Simple Formulas?

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How much real estate math do you need to know if you are investing in real estate? There are computers and calculators for calculating interest rates or amortizing loans. What you need to know is a few simple formulas for determining if a property is a good investment or not.

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The Real Estate Math You Don't Need

The gross rent multiplier is one formula you don't need. I bring it up because people are sometimes still using it, and there are better ways to estimate value. A gross rent multiplier is a crude way to put a value on a property. You decide that properties are worth 10 times annual rent or less, for example, and simply multiply the gross annual rent a building collects by ten to get your value.

There are obvious problems with this formula. You need to constantly change it to reflect interest rates, because a property might be profitable at 12 times rent when interest rates are low, but a money loser at eight times rent if the financing is expensive. Also, there are just plain different expenses for different properties, especially when some include utilities in the rent, for example. Gross rent doesn't say much about the factor that makes a property valuable: the net income.

Real Estate Math You Need

Rental properties are bought for the income they produce, so this is what your real estate valuation should be based on. That is why your real estate math education needs to start with the how to use a capitalization rate, or "cap rate" to determine value. A cap rate is the rate of return expected by investors in a given area, or the rate of return on a property at a given price.

An example might make this clear. Take the gross income of a property and subtract all expenses, but not the loan payments. If the gross income is ,000 per year, and the expenses are ,000, you have net income before debt-service of ,000. Now, to arrive at an estimate of value, you simply apply the capitalization rate to this figure.

If the normal capitalization rate is .10 (ask a real estate professional what is normal in your area), meaning investors expect a 10% return on the value of their investment, you would divide the net income of ,000 by .10. You get 0,000 - the estimated value of the building. If the common rate is .08, meaning investors in the area expect only an 8% return, the value would be 0,000.

Simple Real Estate Math

Estimated value equals net income before debt-service divided by cap rate - this really is simple real estate math, but the tough part is getting accurate income figures. Is the seller is showing you ALL the normal expenses, and not exaggerating income? If he stopped repairing things for a year, and is showing "projected" rents, instead of actual rents collected, the income figure could be ,000 too high. That would mean you would estimate the value at 7,000 more (.08 cap rate).

Besides verifying the figures, smart investors sometimes separate out income from vending machines and laundry machines. Suppose these sources provide ,000 of the income. That would add ,000 to the appraised value (.08 cap rate). Instead, you can do the appraisal without this income included, then add back the replacement cost of the machines (probably much less than ,000).

No real estate formula is perfect, and all are only as good as the figures you plug into them. Used carefully, though, real estate appraisal using capitalization rates is the most accurate method for estimating the value of income properties. For putting a value on a single family home, you need another approach. Yes this means more real estate math to learn, but we'll save that for another time.

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No Money Down Real Estate - A Curse Come True

Condos For Rent - No Money Down Real Estate - A Curse Come True

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100% Financing or zero down payment on a real estate investment property seems like a fantastic idea. With no money down, it seems you can't go wrong. But, that is not true.

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Recently CMHC (Canadian Mortgage and Housing Corporation), who insures non-conventional mortgages (less than 20% down payment mortgages) in Canada, introduced the 100% financing for investment properties. This same product has been in existence for a couple of years for primary residence purchases but now, if you want to get into real estate investing (and your credit is great and you can qualify for the 100% financing), you no longer need a stack of cash to jump in! The challenge is obtaining rent that's high enough to cover the mortgage and the 7.25% insurance premium they hit you with! Here's an example:

* 0,000 purchase price (100% financed)

* 7.25% CMHC insurance fee (,750)

* Total mortgage of 1,750

* Amortized over 25 years at a 5.99% interest rate =

* ,056.67 monthly payment!

So, right off the bat you have negative equity of ,750. If you wish to sell that property after 5 years, your mortgage balance will be 9,008. The property will have had to appreciate at least 15% over those years just to get a little bit of money out of it (remember there's sales commissions, legal fees, property purchase taxes, etc. that will also come out of the sale price).

The next challenge is getting the ,000 in rent each month that you would need to carry this property. Remember, it's not just about covering the mortgage. You also have:

* Insurance fees (approx. 5% of rent);

* Management fees (approx. 5% of rent);

* Maintenance fees (5% to 10% or more);

* Water, hydro, other utilities (2% to 5% of rent);

* Strata or condo fees, if applicable (10% or more);

* Vacancy coverage (2% to 5%), etc.

From our experience, if you keep your mortgage payment at a maximum of 65% of your rental income, you should be pretty close to having neutral or even positive income. In this example, that means you want to earn approx. ,200 in rent to cover everything. Not very likely unless you are running a rooming house and that type of property really comes with it's own challenges. I know as I bought two of them - and they are the only two properties that I have regretted buying (but that is a whole different story).

Now, there are two advantages to using the CMHC program:

1. No money down - you don't need lots of cash to begin investing; and

2. Potential for a GREAT return on investment (ROI) if the market is on the upswing;

So, it's not the worst thing to use, but be very aware of what it will "cost" you in terms of potential negative monthly cashflow and negative equity.

Now, what about other forms of 100% financing? Well, there are creative ways of obtaining 100% financing such as Vendor Take Back's (the Seller holds the mortgage on the property); Obtaining a conventional mortgage (80% loan to value) through a bank or lender and then obtaining a 2nd mortgage from either the Vendor or a private lender and registering it after you purchase the property (you must still have the 20% down payment upon closing); or using your line of credit for the 20% down payment. So, this is not to say that 100% financing doesn't work or isn't useful, it's just quite costly to do it. Costly because not only your monthly debt (mortgage/line of credit) servicing is higher, but usually a 2nd mortgage or line of credit interest rate is substantially higher than a 1st mortgage rate.

I have done 100% financing once and 98% financing another time, and the only reason I was able to was because both sellers were very motivated to sell. Why were they so motivated? Because their properties were beat up and in bad areas. The rent vs. financing was strong in both cases, so I bought. I wouldn't do it again. As the saying goes, "You get what you pay for".

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Real Estate Rentals, The Real Goldrush

Condos For Rent - Real Estate Rentals, The Real Goldrush

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Real estate is fun and can be relaxing. Just think about the ways there are to invest your money that you worked so hard for. Plus, all the ups and down's that life shoot's your way. One thing always come to mind for me and that is rentals. Rentals are and always will be a great investment. Remember what we have in the form of property, will probably be all we ever see. I don't think God will make anymore, anytime soon. So, enjoy and prosper from what's here.

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There are a lot of ways you can invest your money. Like stocks and bonds, but unless your in the right place at the right time you wont make much money in this entity. Stocks and bonds are just like going to Las Vegas and playing on the craps table. If your lucky in that sort of thing, then I wish you the best.

We all know that the 401K retirement program that the Government pushes isn't working at all. Most folks lost 50% and some lost more than that. That's not fair for the working American. I don't know about you, but I think it's time to do things a little different now. Take charge of your own future and start investing in real estate. Many of us thought that we couldn't invest in it and that it's only for the rich, not true. How do you think the rich got so rich? If you look back at all the millionaires and billionaires, most of them have one thing in common. They invest in property in one form or another.

There are many ways to invest in real estate and here is a few of them.

One great way to invest in is purchase rental properties. This is by far the one with the best tax advantage incorporated into it. You can set it up in so many different ways. But I'm not an accountant and you will want to seek your own professional advise here.

You can purchase it and live in part of it and rent out the rest to pay the payment so your payment free.

You can have someone purchase it for you so all you need to do is pay for it using that persons money and they will charge you a fee for that service.

After you purchase the property, you can take care of it yourself or you can hire a company to take care of it for you. Generally the company that takes care of it for you will do the maintenance on it too. In this way all you do is collect the profit from it.

You can partner up with someone who supplies the money. Most of them would rather be a silent partner.

The way you take real estate investing to the next level is up to you, but don't wait because now is a great time to invest and you'll be doing your part to help the economy in a fast way.

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What a Canadian Should Know Before Buying U.S. Real Estate

Condos For Sale In Gainesville Fl - What a Canadian Should Know Before Buying U.S. Real Estate

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Many Canadians are dreaming of heading south for the winter, but not just to beat the cold. They have real estate investing on their minds. Our strong dollar combined with a collapsing housing market in the U.S. spells opportunity for many. But Canada and the U.S.A are not the same country, and as much as we have in common we have differences. Any Canadian investor considering putting money in the U.S. should have a basic understanding of some key differences between buying real estate in Canada versus buying real estate in the U.S. So, before you start putting your loonies in Florida or Texas, read on.

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Tax Systems:

Talk to an accountant that is experienced with American real estate investment as the countries differ considerably in terms of taxation of investment properties.

In the U.S.

1031 Exchanges allow the capital gains from the sale of an investment property to be deferred and rolled into a purchase of a similar type of property if it's bought within 180 days. This can be done many times allowing capital gains to be deferred until the end asset is finally disposed of and not replaced; If capital gains are realized (property is sold and cash is received), the seller is taxed at 15% of the total net gain (as long as the property was owned for more than 1 year, if less than, the rate is much higher); Property taxes tend to be similar to those in Canada, however, if you are a Canadian and own a property in a Southern state like Florida or California, you may have much higher "non-resident" property taxes than either the locals or if you invest in other U.S. States; Similar to Canadian tax laws, you will not be taxed on your primary residence, however, in the U.S., you can write-off the interest charged on your home.

Compare this to Canada

Sell your investment property in Canada and you'll pay capital gains tax on 50% of the net gain. Canada does not yet have the option of deferring the gain through an exchange. The "gain" or "loss" gets added to your income and your are taxed at the applicable rate (which could be much higher than the standard 15% rate in the U.S.); Similar to in the U.S., expenses associated with holding an investment property can be written off against your taxable income. See two previous articles for tax time tips: Part 1 and Part 2.

Before you send your loonie south this winter:

Determine if there are "non-resident" property taxes applicable in the city/state you are considering; If you already own in the States and sell the property (and don't buy another there to use the 1031 Exchange strategy) you'll be required to pay U.S. taxes on the sale. You pay the U.S. first, but still have to file the tax return in Canada (showing the taxes paid in the States). Thus, you'll only pay once (you get a tax credit applied to your Canada taxes), but you have to file 2 returns (February/March 2008 Money Sense has a great article on this issue); Rental income requires two filings for taxes as well. You must claim the income (and expenses) in both countries, pay the applicable taxes, and get a credit for your Canadian taxes.
Lending differences between Canada and the U.S.:

The "credit crunch" or "subprime market meltdown" has had a dramatic impact on the U.S. lending environment, and has trickled over the border to Canada. Because of the economic crisis, lender guidelines and policies have changed dramatically in both countries. In the U.S., there were many mortgages given to just about any candidate. The phrase "ninja" loan was coined in the U.S. The acronym standing for "no income, no job, no assets". Many individuals were given mortgages beyond their means. When the first large phase of ARM (adjustable rate mortgages) began to raise their rates, foreclosures began popping up all across the nation. Canadians need not fear the same crash here thanks to very different lending environments.

In the U.S.

Hundreds of banks across the country with hundreds of differences in lending policies and guidelines; Licensing varies across each state for who can be a mortgage broker. In some states no testing or licensing is required at all! Bank regulation is controlled at the state and federal level, again possibly leading to less strict lending criteria from one bank or lender to another.

And in Canada

One federally-regulated Bank Act that controls what banks can and cannot do across Canada; Only 5 major banks in Canada that control a large majority of all banking divisions; All of the Big 5 Banks in Canada are able to lend funds for mortgages, but they have also acquired (and oversee) many of the licensed trust and brokerage companies (which lend money as well); Mortgage brokers are provincially regulated in Canada, but the majority of provinces require extensive training, and the successful completion of a licensing test.
Economic Conditions in Canada and the U.S.:

The Canadian economy continues to enjoy good economic times with historically low unemployment rates, increased wages, and housing appreciation. At the same time, a recession has been lurking in the U.S. Many areas of the U.S. are experiencing depreciating houses, high unemployment rates, and deteriorating consumer confidence.

There could be some real bargains to be found in the U.S. as foreclosures pile up, property/houses depreciate (well into double digits in some States - Florida, Michigan, California), and our Canadian dollar continues to sit around par with the greenback. But before you take the plunge, do your research. Most economists still believe we are in the midst of the subprime fiasco. They forecast continued depreciation across the nation (obviously much worse in some areas than others) for the better part of two years. So, unless you really know an area is going to get better soon, I personally, would wait and see what the summer and early 2009 has to bring. The election, the war, federal policies to "bail-out" millions of credit-burdened borrowers, and the worst part of the subprime scenario which is predicted to hit in the fall of 2008, are all factors that will impact investment in the coming year, and it's a gamble to buy without knowing what will happen. But, with the strong dollar, it's a good time to head south and start looking for that dream home in Florida, isn't it?

Some final thoughts (in this article anyways) on investing in the U.S. real estate market. If you are intent on purchasing in the U.S. and are a Canadian citizen residing in Canada, the following three ways may help you obtain financing:

Take out a mortgage in the U.S. through a U.S. based bank owned by a Canadian one such as RBC Centura or Bank of Montreal's Harris Bank; Purchase using all cash so you don't have to deal with cross border financing issues (e.g., pull equity out of your home or other Canadian properties or ask your rich aunt for money!) to buy down south; and Create a corporation in the U.S. with assets (a holding company will not work as it needs to have equity or be generating revenue) which can obtain the mortgage from a U.S. lender.

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Brief Lines About Lincoln Park Real Estate

Condos For Sale - Brief Lines About Lincoln Park Real Estate

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When it comes to the Lincoln Park, it is one of the most dynamic neighborhoods in Chicago, being unique and always catering to the trendy lifestyle. Its popularity stems from the vibrant, youthful residents that have charged the evening restaurants and bar scene with their endless charisma and energy. It considered the epicenter of the North side; It has become Chicago the most desirable place to live for the young business man or women trying to make it in the city. Only two and half miles from downtown and block from the lake make Lincoln Park as a prime real estate.

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Most of the people are thinking that such a youthful community would conform to newer styles of architectures and design. However, this could not be further from the truth as evident from the rehabilitation boom in the last thirty years. This boom had a dramatic effect on Real estate. Most of the real estate still standing today was built in the late nineteenth century. Elaborate remodeling efforts have given these Lincoln Park condos a new life and have consequently, driven up Lincoln Park real estate values.

At present, the prices are falling rapidly due to an abundance of inventory (the number of homes for sale has been double in the past year), and you, the buyer, can confidently walk away from any asking price you think is too high. If you are looking to a buy Lincoln Park Chicago condos for sale, you cannot afford to miss this opportunity. Most of the people are confusing on how to decide their condo value. The most accurate methods for setting your condos price by using computers or comparative valuations to see what the most recent buyers in you are having been willing to pay for homes that are similar to yours. There are many websites in internet offering customized tool to help you price your condo accurately and reasonably in a market like this one, you do not want to rely on old valuations that are no longer competitive. Most importantly, you need to know the real selling points of your specific condo.

Before deciding to move Chicago, having in-depth information about local culture, educations, transportation, and nightlife will prove invaluable. Finally, there are some well known and reputed websites in internet are offering the information about Lincoln Park condos sale and other information to their clients. For more information and details, please do not hesitate to visit their valuable website.

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Toronto Real Estate Investment Stays Strong

Condos For Sale - Toronto Real Estate Investment Stays Strong

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Whether you are investing in a luxury downtown condo, apartment or home for your family, the Toronto real estate market provides investment opportunities for everyone. The Toronto real estate market is the most popular housing market in Canada. If you decide to buy a home in Toronto rest assured that you will be living in a city that has world class amenities, services, facilities and entertainment.

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Toronto's real estate market and availability is ultimately based on demographics: there has been an influx of over a million new people to the Greater Toronto Area over the last decade and there is still a massive shortfall of housing to meet the demand of these new residents.

Furthermore, the sub prime market crisis in the United States has many home buyers wondering what the affect will be on housing markets in Canada, opening the door to uncertainty and speculation on the Canadian market. The good news for Canadians is that the housing market has been setting records for volume and units sold for five consecutive years now despite the problems coming to light in the US.

"The statistics show just how dynamic the Canadian housing market was in 2007 in virtually all parts of the country," said Ann Bosley, president of CREA. Historical analysis of the Toronto market in particular shows that real estate for the city, despite occasional dips, continues to do well. Take the Toronto real estate luxury market as an example with house sales in the million dollars plus range across the Greater Toronto Area (GTA) increasing by more than 20% in 2007 over the 2006 figures.

A thriving Canadian economy has many suburban dwellers leaving the burbs behind to move back into the cities. If you fall into this category, when searching for Toronto homes or condos for sale, you will need to collect information about the different areas of the downtown core to determine if you are looking in a "buyer's market" or a "seller's market". Intense market competition ensures that pricing cannot be raised artificially, so the people buying homes and condos are mostly families or the downtown workforce, not speculative investors.

Not only is the Toronto housing market doing well, but newly constructed toronto condos are also in very high demand. With each passing year, Toronto condos are becoming a bigger part of total Toronto real estate market. Exciting new homes and condos are being constructed in areas like Eglinton / Yonge and King St. / Bathurst that offer residents access to the excitement of downtown Toronto while still being in a calm, clean and safe area. The most popular areas to invest are projects along the subway, close to downtown and at key intersections along the Yonge - Bloor corridors.

The Toronto condo market is an excellent alternative to home ownership particularly if you are a first time property buyer or looking to downsize your current investment. The ever increasing cost of a home in today's Toronto real estate market is making it very hard for a large percentage of the population to become home owners. Condos also represent sound Toronto real estate rental investments allowing would be owners to increase the value of their equity. Most home buyers want to get good value for their money while at the same time getting a property that is in an area geographically that they are comfortable with.

If and when you do decide to invest in the Toronto real estate market make sure to secure the services of a professional real estate lawyer. In any real estate transaction a real estate lawyer will handle; the deed, the bill of sale, mortgage arrangements, promissory note, title commitment and the closing statements on your behalf. Getting a good interest rate on your mortgage is also crucial to being able to afford your investment and avoiding foreclosure.

There are many stories in the news recently about small towns in the United States that are full of new homeowners that are not able to afford the mortgages for their new homes and are losing money in their investment due to the sub prime crisis. While this situation may be an unhappy one for the people involved, buying in an urban market such as Toronto can help to mitigate problems by offering increased investment flexibility. Whether you would like to purchase a new family home, commercial real estate for your business or a luxury condo, Toronto can provide you with numerous options to choose from.

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HDFC Coops - The Best Deal in New York City Real Estate?

Condos For Sale In Gainesville Fl - HDFC Coops - The Best Deal in New York City Real Estate?

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HDFC Coops - The Best Deal in New York City Real Estate

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Have you been frustrated with the high prices for apartments in New York City?  Well here's the good news:  If you have ever wanted to live in New York City at an affordable price, well, look no further.  If you qualify, you may have just found the greatest deal in New York City. 

HDFC Coops, a little know niche market in New York Real Estate, represent the "last great deals" in New York City.  Frequently these cooperative apartments sell for 40%-60% below there comparable regular Coop or Condos for sale.  HDFC's (which stands for Housing Development  & Finance Corporation) have been around for many years but it is not until the last few years that more and more people are discovering these amazing deals.  They are only available in New York City although there may be other programs in other cities that are similar.

The History of HDFC's

HDFC coops are city sponsored coop apartments that offer many of the benefits of a regular coop apartment but they also have some restrictions on purchase and they frequently have a "flip tax" upon sale. 

An HDFC coop came to be for one of a couple possible reasons.  They may have been originally a rental building which had been abandoned by an owner or the owner may have owed back taxes or water and therefore lost the building to the city. 

The City then rehabilitated the building, trained the tenants on ownership, set the Coop up financially to be self-sustaining, and then sold the apartments to the existing tenants for 0 each.  Yes, that's right, 0!

The premise is that rather then the City being a landlord, you have now trained a group of owners who care about their building and their future.  It has been a very successful system. 

Typically over the years these HDFC coops changed hands among friends or relatives for very cheap prices.  In the past several years, some brokers with foresight have realized the value these Coops represent, and upon being marketed more professionally, much higher prices have been realized for the Owners. 

Benefits

This has benefited both the buyer and seller of an HDFC apartment.  A seller now has realized much more money than they ever thought possible and they have a chance to realize their dreams.  Many sellers of HDFC coops have gone on to move to the suburbs and buy a house or take a dream vacation, buy a nicer car, and live a nicer lifestyle.  Remember, the original owners of HDFC coops were there because they typically lived in a run-down neglected building so to get 0,000-as much as 0,000 for one of these apartments which they paid only 0 for is a huge windfall.

The buyer is getting a chance to own a piece of New York City, one of the most expensive real estate markets in the world, for a fraction of the price of regular Coops or Condos.  Very often, HDFC coops sell for 0-0 per square foot where as coops and condos in New York can sell for 0-00 per square foot.  This is clearly a huge difference. 

Don't think these HDFC's are in bad neighborhood's either because many of these are in prime New York City neighborhood's such as the Upper East Side, Upper West Side, Lower East Side, and Williamsburg, Brooklyn.

Downside

Does it sound too good to be true?  Well it isn't too good to be true, but you must qualify to buy.  In many cases, to qualify to buy and HDFC coop, you need to make less than 120% of the areas Median Income.  In 2008, this number was ,500 for 1 buyer and ,725 for 2 buyers in a family and ,950 for 3 buyers in a family.  Alternatively, some buildings, depending on the by-laws of the coop, have income restrictions to buy based on a multiple of the yearly maintenance and utility charges that the apartment has.  In either case, usually the management company and/or the Board of Directors of the coop will look at the adjusted gross income of your previous 2 years tax returns. 

In addition to an income restriction to buy, many HDFC Coop's have a "flip tax" when you sell.  Typically, this flip tax is calculated as a percentage of the profit that you make.  The profit is defined as the sale price minus the purchase price.  The flip tax could be as low as 5% and can range up to as much as 85% of your profit. 

Clearly you need to take these factors into account and depending on the flip tax the Coop has, the price and value of the apartment may vary greatly. 

Summary

We have seen that an HDFC coop represents a great opportunity to own a piece of the "greatest city in the world" at a fraction of the price of other coops and condos but with that comes some restrictions on purchasing and upon selling you often have to give a portion of your profit back to the coop and/or the city.  

Tips when buying or selling an HDFC Coop

Find a broker who understands the rules and restrictions of HDFC Coops.  There are many intricacies to the process and if a buyer or seller is not qualified properly, you may find yourself wasting a lot of time just to find out you can't buy or sell the apartment. 

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HDFC Coops - The Best Deal in New York City Real Estate?