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Learning Center ( FOR MEMBERS ONLY)
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Click on the category below to find ARTICLES, AUDIO and/or VIDEO lessons on each topic. Most Audio files can be downloaded to your MP3 player or desktop by right clicking on the download links in each article and selecting "Save Target As."
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The Only Dumb Question is the One Not Asked!
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Adapting to Changing Times
Friday, December 07, 2007 (231 reads)
It’s amazing how swiftly the financial landscape changes for someone in the house business. One would think that opportunities with houses would be fairly stable. In the good old days, changes in population, wages, and taxes were gradual and those in the house business could adapt to them without much fuss. Not so today. Sign up to see more |
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Company Sponsorship Without Ownership
Friday, November 30, 2007 (147 reads)
An opportunity came available to buy a great lakefront property from a good business friend of ours. Have stayed there with him before for one of our mastermind retreats. But he never uses it and decided to sell it to us at a great discount in return for some business help.
We plan to use it for business (rewards for employees, vendors, affiliates, contests, host meetings and company retreats, etc) a personal retreat for us and also rent it out to help cover the mortgage payments. However we don't want our company to own it, because if we ever sell the company we would still want to keep the property. But we do want the company to pay for using it.
How would you recommend setting it up? A trust?
If a trust owns it, how are the mortgage payments made and rental income received and taxes on that income take place? Sign up to see more |
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Making Real Estate Your New Line of Work
Friday, November 30, 2007 (185 reads)
Okay I knew it was coming for a while but I will become an ex employee in 2008.
The company I work for will be aquired by a chinese company and my services no longer required.
What to do next.
1. Get a new job - Not my 1st, 2nd or 3rd choice.
2. Go at real estate full time.
What should I do first.
I have a few ideas, what do other people suggest. I know other people on this board musthave been through this including Jack. I am looking forward to this new challenge. I have enough money to last two years plus a supportive spouse who is employed.
Any words of wisdom are welcome. Sign up to see more |
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Grandsons and Roth IRAs
Friday, November 30, 2007 (139 reads)
Hi Jack, I would like to get my grandson into a Roth IRA. Siince he has to earn the money I was going to put his picture on my business card. Two Questions. Do you think there is something better than a Roth, and if so, what is it. Are there better ways to employ him he''s only 18months old, and extremely bright -:) or is having his picture on my business card the way to go? Also, how much can I pay him for that? Sign up to see more |
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Giving Back to the Bank While Avoiding Loan Fraud
Friday, November 30, 2007 (138 reads)
I live in New York but bought 15 – 20 houses in Kansas City. They are a NIGHTMARE! Constant tenant problems. Management problems. I had to refianance to pull out cash. But the cash is getting eaten up by the problems. The money is all gone and I am FED UP with these houses and flying back and forth to try to solve the problems that have been going on for more than a year. I want to walk away and give them back to the back. But I’m concerned about judgements and being charged with loan fraud ( even though there was no fraud). Can the lenders come after my personal residence in New York? What should I do? Sign up to see more |
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Present Value Insight
Friday, November 30, 2007 (226 reads)
All financial calculators have buttons you push to discover various financial factors. These buttons are labeled N for the number of payments until a loan is fully paid off; I for the rate of interest being paid in each payment period; and PMT for the amount money paid for interest and principal. FV stands for the future value of the sums being paid. A very important button is labled PV for Present Value. Many creative financial formulas take P.V. into consideration. What is Present Value? Let me see if I can explain it to you: Sign up to see more |
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