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If you are considering buying real estate with Roth IRA funds, let me give you a little advice. Choose the right custodian. There are many examples of a successful IRA renewal buying real estate, but the fees charged by multiple custodians can make a big difference.

# 1 – Undvested Cash Balances

Once you start buying real estate with Roth IRA funds, you will almost always have some cash in your account. In fact, you need to have some cash there, because all the costs associated with maintaining the property must come from the account.

Don’t think the custodians don’t know. They take advantage of it. There is a large company that takes 45% of the accrued interest on uninvested cash balances from you each year. They call it a maintenance fee, but there is no additional maintenance involved. No matter what is kept within the account, the same kind of maintenance is required.

# 2 – Additional charges

When it comes to an IRA renewal to buy real estate, you will need to have a self-directed account. You tell your custodian to write a check for a purchase. Some companies charge for writing checks. They charge for transferring titles and deeds or mortgage promissory notes. They charge a fee each time you use the account to make a purchase or sell a share. All of these fees can add up to thousands of dollars in a year.

When it comes to IRA renewal when buying real estate, one of the biggest advantages for investors is the ability to keep more of their earnings, due to the tax-free environment of the account. But if a custodian charges numerous fees, you don’t get that many.

Similarly, one of the biggest advantages of buying real estate with Roth IRA funds is that you will “never” pay taxes on those earnings. Your contributions are taxed as regular income. There are no capital games or income taxes on earnings made within the account. Qualified distributions are never taxable.

# 3 – Annual maintenance fee and reasonable installation charge

If you have an IRA renewal, the real estate purchase can only be accomplished if you choose a custodian who offers the option. Those companies that currently offer “free and easy setup” do not offer the option. They are stockbrokers and charge high fees for buying and selling shares.

A reasonable installation fee is $ 50. The annual maintenance fee depends on the total value of the account. If you’re like me, you’re betting on a million dollars or more buying real estate with Roth IRA funds. Trust me, it’s not an impossible dream.

# 4 – get an education

If you are inexperienced when it comes to renewing an IRA when buying real estate, get some education and information first. There are a small number of companies that offer “hands-off” investment options. That might be the best option right now.

As you learn more about buying real estate with Roth IRA funds, you can do more. But, start slowly, just to be safe.

Attached strings

by Nick Nolan

Little Eden Press (2006)

ISBN 1419628895

Reviewed by Paige Lovitt for Reader Views (06/9)

Jeremy Tyler, at seventeen, has a lot of trouble on his plate. First, Jeremy, when he was a little boy, lost his father. Now there is a question as to whether it was murder or not. Then Jeremy’s mother, who caught her father to marry her by getting pregnant with him, has a major addiction problem. She suffers a near fatal overdose and has to be sent to a drug rehab program. Jeremy is sent to live with his super rich great-aunt and uncle. This seems like the easy part, but you have to adapt as you go from poverty to wealth. After living in extreme poverty, Jeremy has to overcome his feelings of lack of self-worth. She also now has high expectations of greatness placed on him because he is a “Tyler.” During this time, Jeremy is also dealing with his attraction to boys. He denies his homosexuality and feels that if he meets the right girl, she will erase those thoughts and feelings. He meets the perfect girl, but he still has these problems to deal with.

Jeremy is fortunate that the family butler, Arthur, takes him under his wing. Arthur is gay and recognizes that Jeremy is too. Arthur provides support and guidance on many levels and can be a mentor to Jeremy. Jeremy’s aunt and uncle definitely don’t accept the idea that he’s gay. They see it as a weakness and a character flaw. Jeremy’s uncle also appears to be involved in illegal business activities. Jeremy’s mother believes he was involved in his father’s death. At first, Jeremy wants to trust the guy, but then he begins to have his doubts as well.

This novel was really fun on so many levels. First of all, the mystery surrounding the death of Jeremy’s father and dysfunctional family problems make for a great story. So Jeremy’s discovery of his sexuality and how it affects his friends is also a compelling drama in itself. The author, Nick Nolan, does an excellent job of taking the reader into Jeremy’s head and heart, as he tries to figure out himself. It’s hard enough being a teenager, but when you also have to deal with the issues of being the child of an alcoholic, not being raised by a parent, and sexuality issues, you really have a lot to overcome. Jeremy doesn’t do it perfectly, but he does it well and tries to maintain his integrity and honesty along the way. Jeremy is a really good person.

Nolan has written this adult story with the underlying theme of “Pinocchio.” I love how he incorporates references to the Pinocchio story into his own. Not having read Pinocchio in years, I missed a lot of the clues, but in a section on the author’s notes at the end, Nolan completes you. He also adds some special touches to show you that Jeremy has some contact with his father on the other side. This adds to the richness of the story. I really loved this book and highly recommend it.

If you own a rental property or apartments, cheap apartments are a must. Renters coming in and out tend to wear down the floors a lot. With this frequent change, updated décor, such as floors, is crucial to maintaining rented units. The trick is to know the options you have and decide which is the best for you, your needs and your budget. There are 5 very good affordable apartment rental options and each has its own pros and cons.

Carpet – Carpet is probably the most common cheap flooring installed in apartments and rental units. If you know how to search for the right deals, you can get them very cheaply and install them fairly quickly. You should be able to find entry-level plush rugs in neutral colors for less than $ 4.50 per yard (maybe even under $ 4 per yard if you search a lot). Cheap carpet padding will generally cost you an additional $ 2.30 to $ 2.75 per yard for a base density of 6 pounds, 7/16 “thick. You can skimp on the pad by choosing a thinner or lighter pad, but long. run you will end up replacing the pad more often than if you opted for the basic 6 pound style. If you want to stay a little more up to date and install a frieze rug or textured plush, you will almost have to double your budget to around $ 7.00 per La Carpet can be inexpensive as a property rental option, probably one of the cheapest actually, but it won’t last as long as many of the other options, either.

Carpet tile: The carpet tile is a carpet version but modular. It is made with a built-in backrest and comes in square pieces designed to fit side by side. Installation can be very quick and inexpensive and they can be easier to handle than carpet rolls. An advantage of carpet tiles is that they can be replaced individually if one gets too dirty or stains to clean. Using carpet tile can possibly save you some money over time by not having to replace the entire carpet in one unit. Commercial grade carpet tiles also handle heavy traffic much better than cheap, traditional plush rugs. Carpet tiles can be found for as little as $ 4.50 / yard at $ 7.00 square yard range.

Laminate – Laminate flooring can be inexpensive and highly functional in rental properties and apartments. The laminate is virtually smudge-proof, holds up well against most scratches, and handles foot traffic very well. Laminate will last much longer than carpet options and can be quite inexpensive when looking for lower end styles in the 6 mil to 7 mil thickness range. You should be able to buy an entry-level laminate flooring for less than $ 8 a yard ($ .89 a foot). The main drawback of laminate is its susceptibility to water. Laminate floors hate water and moisture. Kitchens and bathrooms are generally not good areas to install laminate flooring.

Luxury vinyl planks and tiles: along with laminate, a very good option for its economy and longer duration than other options. Luxury vinyl planks that simulate the look of wood and vinyl tiles that have the appearance of ceramic, slate, or marble can handle spills and constant traffic very well. Additionally, luxury vinyl planks and tiles work well in rental properties due to their ability to resist most scratches. These are not the same as peeling and gluing vinyl planks and tiles which can be a bad idea for rental units (peel and stick vinyl floors tend to come back up and can be a maintenance headache) . Quality luxury vinyl tile and planks can be found for as little as $ 1.25 per square foot. This tends to be a touch high compared to some of the other options, but it will last much longer than most options.

Traditional Vinyl Sheet – Vinyl sheet products are actually quite sturdy and handle abuse quite well. The hit against traditional vinyl is that it looks cheap. Vinyl roll products have come a long way and some of the newer patterns look much better than they did in the past. The advantage of vinyl items is that they work very well in humid areas such as bathrooms, laundry areas, and kitchens. A good way to save money on vinyl for rental properties or apartments is to find a source that allows you to get discounted products that are considered overs or seconds. If you can find these types of vinyl, you should be able to buy them for less than $ 6 a square yard for a very good quality product. You can also find premium construction vinyl for around $ 6 a yard.

First, let’s answer the question; Why should you change your own oil? Because you can save time and money. You don’t have to queue at the service shop or the quick oil change shop. For ten dollars you can get the best oil and a new oil filter. And it’s so easy to do that you could train a monkey to do it.

Changing the motor oil in your car is a very simple three-step process: 1. Drain the used oil. 2. Replace the oil filter. 3. Add the new oil. But before we go through the steps, let’s answer some basic questions.

When should I change my oil?

Look in your car’s owner’s manual. Most automakers recommend changing the motor oil every 6,000 miles for normal service or every 3,000 miles for severe service. I change my oil every 6,000 miles, and my engines run like new when I change my vehicles with 100,000+ miles on them. One thing I do is change the oil in a new car after the first 300 mile break-in period. Then after that I change the oil every 6,000 miles.

What type of oil should I use?

You are not going to save money by using a different brand oil because your engine will wear out sooner. Use oil that meets the American Pertroleum Institute (API) SL classification. I use Valvoline, Quaker State, Pennzoil, or Havoline brand oil. These quality oils contain additives that make them work better and longer.

If you are changing your oil just before winter, use SAE 10W30 weight oil. This number means that the oil will have a thin viscosity of 10 pesos when the engine is cold, which will help the engine start more easily, and then the oil will thicken to a viscosity of 30 pesos when the engine heats up, better protecting the motor. If you are changing the oil just before the summer, use SAE 10W40 weight oil. The extra 40 weight viscosity will better protect your engine in hot weather.

Which is the first step?

Let your engine cool down first. Modern engines run near 300 degrees (F), and hot oil will definitely burn you badly. You shouldn’t have to lift your car unless you have some kind of sports car or low rider. Most cars have enough room underneath to reach underneath and change the engine oil.

Step 1: Drain the old oil.

Locate the oil drain plug and place a pan underneath to collect the oil. Using a box wrench, remove the oil plug.

Note to beginners: To remove the drain plug, turn it counterclockwise.

– If you have a GM dual overhead camshaft EcoTec engine, you might have a hard time locating the drain plug in all that aluminum.

When the oil stops draining, reinstall the drain plug.

Note to beginners: To replace the drain plug, turn it clockwise. Start the plug with your fingers. If turning seems a bit difficult, back off! You are crossing the threads.

Step 2. Replace the oil filter.

Move your oil pan under the oil filter. Using an oil filter wrench to start, remove the oil filter. (beginners: counterclockwise, and you will get some oil in your hand).

– A strap type oil filter wrench is the best type to use. A socket-type oil filter tool with a ratchet is used just like a regular socket. The problem with the plug type is that it tends to get stuck in the filter. Use the given type tool if you do not have enough space around the oil filter to use the belt type.

Put a thin layer of oil on the gasket of the new filter with your finger for a better seal.

*! Now pay attention, this is where you can ruin Royal!

By hand, install the new oil filter. If turning seems a bit difficult, back off! You are crossing the threads. Most filters have an instruction printed on them to give the filter one more turn after the gasket has made contact.

Here’s what I recommend: Screw in the filter until it’s “hand-tight.” Then use the oil filter wrench to tighten it another 1/8 to 1/4 turn. This is critical!

When the vehicle is running, the oil pump puts the oil under pressure. If you don’t install the oil filter tight enough, the oil will gush out. If that happens, stop the engine immediately. Without oil, an engine will crash in seconds.

The first time I changed my oil, I used the filter wrench to tighten the filter as hard as I could. Wrong! The next time I went to change my oil, I couldn’t remove the filter. Fortunately, I had a lot of room around the filter, so I drove a screwdriver through the filter body and used the screwdriver handle to turn the filter off.

Warning! Do not over-tighten the filter. Please follow the above instructions carefully!

– GM’s EcoTec dual overhead camshaft engine has an unusual oil filter located on top of the engine. Remove the air inlet hose from the engine. That’s the oil filter canister just to the right and below the end of the open air intake tube. Use an appropriately sized wrench to remove the lid from the container. This engine uses a special filter cartridge.

Step 3. Add the new oil.

Locate the oil fill cap on the valve cap. I’ve seen motor oil novices in everything from the master brake cylinder to the radiator cap. Make sure you have located the oil fill plug. Remove the oil filler cap.

When pouring in the oil, it would be advisable to use a funnel between the oil can and the oil fill hole in the valve cover.

How much oil should you add? Look in your car’s owner’s manual. Most engines have a capacity of four or five quarters. Do not overfill the crankcase. When you start the engine, the extra oil is extinguished through the PCV value, possibly stopping your engine.

Tip: If you don’t know the engine oil capacity, add four quarts, then check the oil level; if it is a low quart, add another quart.

Replace the oil fill cap.

Step 4. Start the engine.

Yes, I know, I said there are only three steps. You are done, this is not really a “step”.

Start the engine and make sure the oil warning light goes out. Look under the vehicle to make sure there are no oil leaks. Turn off the engine and let it sit for a minute to allow the oil to drain into the crankcase. Then use the dipstick to measure the oil level.

How to check the oil level: Remove the dipstick, wipe it clean, and reinstall the dipstick. Make sure the dipstick is fully inserted or you will get a false reading. After a few seconds, remove the dipstick and examine how high up it is covered in oil. Most dip sticks have a “full” mark printed on them.

Note: I find the best way to dispose of the old oil is to use a funnel to pass it from the collection tray to the bottles that the new oil comes from. When I have a large pile of used oil bottles, I take them to the oil recycling center. Be sure to mark used oil bottles so you don’t accidentally think they are new oil.

Copyright (C) 2004 Bucaro TecHelp.

Permission is granted for the article below to resend, reprint, distribute, use for ezine, newsletter, website, offer as a free bonus or as part of a product for sale, provided no changes are made and the headline, the Copyright and resource box is included below.

There are a few distinct benefits and also some definite downsides to keeping mice as pets. They are easy to care for, do not last long, and are easily stored in a small space. However, they are also nervous, do not last long, and in many cases, they are not very interactive.

Mice can live quite content in a 10-gallon aquarium with a mesh lid or a cage of similar size. They need a plate of food, a bottle of water, a place to hide, and maybe a wheel to run and / or a block to chew on. Some kind of sand should be placed in the bottom of the cage to absorb urine and usually only needs to be changed once a week.

The urine of mice is quite itchy, especially that of mature males. This can be mitigated a bit by keeping only the females or by cleaning the stains from the cage daily or every other day. But mice generally smell something, so if you hate the smell, maybe another pet or no pets would be better for you.

The lifespan of a mouse is not very long, usually only between a year and a year and a half. This can be difficult if they become beloved pets, but it also means they have less commitment. This makes them good pets for children who are old enough to be responsible but may lose interest in a year or so.

Food and sand for a mouse or two are not very expensive. They are small and don’t eat much, and they don’t need a lot of sand for their cages either. However, veterinary care for your mouse will not be much less expensive than for a cat or small dog, especially since you would need to seek out an exotics specialist.

A lonely mouse is not likely to be happy, because they are deeply social creatures. However, they are shy enough that it is difficult to get a mouse with a companion to bond with you. In general, the best are two babies or adults who are already friends, because they will bond with you and yet appreciate each other’s company. Always choose two of the same sex.

Interaction with a mouse is limited. People can hold them and sometimes let them run around desks or other secure areas, but care must be taken that they do not leak. And older mice that are not yet domesticated can be difficult to handle. However, people who primarily enjoy watching their pets run and play will greatly enjoy having a mouse or two.

By: Robert Shemin, ESQ. (2002)

ISBN 0-7931-4825-1

Book Price: $ 28.95

Outstanding real estate investor

Robert Shemin is a nationally recognized landlord expert in the US and is a Wall Street Journal bestselling author who became a millionaire in his 30s by investing in real estate. Shem earned a law degree and an MBA from Emory University, Atlanta. He has gathered more than 450 real estate deals and owns 100 properties.

Sharing their secrets

Robert Shemin offers 12 chapters that share their millionaire homeowners secrets. It talks about getting started as a landlord (Chapter 3), finding good tenants (Chapter 5), collecting all the rent, all the time (Chapter 7), keeping good tenants (Chapter 9), evictions. .. how to avoid them (ch. 10), how to protect your interests with insurance (ch. 12), and more.

Solid, practical, experiential advice

Robert Shemin is personable and concise in his presentation; Sharing valuable keys freely while broadcasting your trip, saying, “The first thing I learned about tenants … Most think they are not treated very well. They don’t like their landlords … this is all spelled” great opportunity. ” .. a viable plan includes treating tenants as valued customers. “

Robert’s information is practical; he has learned principles from experience. Following their rules should lead to success. He expresses: “I am very much in favor of low-cost duplexes and two-bedroom houses for the highest profitability. They have lower start-up costs and lower maintenance costs … they are easier to rent in a recessionary economy. .. investigate “.

When Shemin gives advice, he presents himself in a relaxed manner. He shares about ideal tenants, saying: “… the best tenants are the people who are older and who … are likely to stay in one place and live quietly … they target … the elderly “.

Robert displays positive business characteristics that are transferable to all businesses to achieve success. He advises: “To prevent tenants from leaving, establish a Tenant Retention Program that is based on how you treat them, a theme throughout this book and throughout the business … We also provide rewards when they move out. .. “

Shemin defines the terms before addressing them. He introduces, “” Rent to own “means that the tenant rents his property with the option to buy it … I think it is always better to go for the rent to own / lease option with houses and duplexes … “

Proven Strategy for Success in Real Estate

Robert Shemin presents a viable and proven strategy for successful real estate investing for homeowners.

Real estate investing has become popular today due to television real estate investing infomercials and traveling seminar circuits. But real estate investing has not always been so popular.

In the 1960s, William Nickerson wrote: “How I turned $ 1000 into three million in real estate” and “How to make a fortune today from scratch.” It was one of the first real estate investment books to gain national attention. A little later, Al Lowry wrote “How You Can Be Financially Independent By Investing In Real Estate.” Al Lowry could be called “the father of real estate seminars today” because he was the first to hold seminars as a result of the sale of his books.

But it was Mark Haroldsen who took the momentum of the real estate investment seminar / book to the next level. Haroldsen wrote: “How to awaken the financial genius within you.” If you were tuned in to real estate investing at the time, you remember the newspaper and magazine ad that featured an image of Mark soft and bald leaning against the front hood of his Mercedes. The image appeared everywhere in full-page ads from major publications. And when Mark started selling his books, he began conducting real estate investment seminars. I had lunch with Mark and Al Lowry as they exchanged stories about the hype blitz that brought them to national prominence for their prowess in real estate investing. Later, Mark wrote “The Courage to Be Rich” and “Tax Free”.

But it was Robert Allen who capitalized on Lowry and Haroldsen’s previous groundwork. Robert Allen was reportedly paid $ 1 million upfront royalties for his best-selling book, “Nothing Down,” a compilation of 50 techniques for buying property with no money. Robert had learned these techniques from several years of experience in a commercial real estate company. He later wrote “Wealth Creation” and “Introduction to Real Estate Investing.” Robert Allen’s real estate investment seminars turned into a phenomenal marketing bonanza. The conventions were held in major cities in the country, such as Orlando, Los Angeles, Dallas, Chicago, and Atlanta. Authors of various real estate investment techniques spoke at these seminars, but their spiel focused on selling packages of real estate investment materials that they were offering for sale. Millions of dollars in real estate investment materials were sold at these 3-day conventions. The convention frenzy ushered in what has since been known as “The Nothing Real Estate Movement” of the early to mid-1980s.

I keep all of these books in my personal library, and you can probably still find them in your public library and bookstores. There is a lot of great information in these books that can make you very knowledgeable, even if some of the ideas are out of date.

Now we are presented with a variety of ways to make money in real estate by investing in television infomercials, books, and seminars. Which is the best? Who can say? Real estate investing is learned through trial and error. Real estate investing skills and techniques are acquired with practice. I don’t think anyone can dogmatically recommend a technique that is better for someone else. Each real estate investor has unique needs and is in a unique situation. The objectives of real estate investment are different.

However, if you are limited in investing in real estate educational dollars and need to generate a quick return on investment, I think fixing cheap houses is an ideal starting point. Real estate investing in renovated properties generates fast, profitable dollars with low risk.

Originally, the term “carriage house” needed little explanation: it was a shed to house horse-drawn carriages. Today, however, the term has taken on a different meaning. Since the once ubiquitous carriage has little use in modern society, many of the carriage houses that were built before automobiles were common now have different uses. Many have been upgraded to serve as a guest house, garage, storage space, or even as a bar, restaurant, or shop. Today, two-story carport plans generally consist of a garage-like space on the lower level and rooms on the upper level that may include possible space for hobbies or additional storage.

Modern carriage house plans offer functional second floor home layouts to suit various needs. These designs will always include a modest kitchen, a full bathroom, and a bedroom / sleeping space. Second floor layouts can also include special spaces and amenities such as:

An office

A recreation room

Storage space

A laundry room

Additional living space

Carriage house plans are an excellent solution for those who want to build a remarkably versatile space at a relatively low price. In fact, some even transition from the second level to an apartment and rent the space to students or other tenants, generating additional income for the owner. Others make use of modern garage plans as their only living space. On the right lot, it is possible to build affordable mobile home plans to serve as the primary living space for the owner. Those with simplistic lifestyles can save a lot in the long run.

Some mobile home designs are arranged on one level with the garage located on one side and the finished homes on the other. Those with elderly relatives or friends may wish to consider this style of transportation home planning to avoid the elderly having to climb stairs. If necessary, a two-story mobile home can be designed for easy access to the second level, so that an elderly person can enjoy a comfortable life near a relative or friends who take care of them.

Carriage house plans allow homeowners to enjoy a unique combination of classic architecture and modern functionality. With a little money and imagination, the carport can be used in many ways, for business or pleasure. Whether you want to build a new home or make an addition to an existing home, these highly versatile structures are worth considering.

A wise man will seize more opportunities than he finds. ~ Francis Bacon

Introduction

Don’t just look for homes that meet your criteria, look for the home that meets your criteria in places where people like to rent. There are nice areas in my city and not so nice areas in my city. However, neither of those two areas is where most people like to rent properties.

There is a zone of “opportunity” between the nice and not-so-nice areas where people are eager to rent and where house values ​​are relatively lower, but where moderately high rent can be charged. There are good and bad houses in these areas, but there are usually supermarkets and shops within walking distance, often close enough to walk.

Advantages of opportunity zones

Opportunity zones have a fundamental advantage over other areas of the city: you can earn more money with them. There are two reasons for this:

1. You pay less for a rental property in an opportunity zone than you would for a comparable property in a nicer neighborhood.

2. You can charge about the same rent that you would in a nice neighborhood.

For example, I have two houses in two different parts of the city. I have a house in a nicer neighborhood on the outskirts of town where new growth is taking place. I pay $ 700 on the mortgage and receive $ 875 in rent with a profit of $ 185 / month.

I own a second home in an opportunity zone neighborhood, close to the central part of the city where property values ​​are lower. For this house, I pay $ 525 on the mortgage, receive $ 750 per rent, and make a rental profit of $ 250 / month.

It’s not about how much I earn each month on a home, but how little I pay on the mortgage which is the biggest profit in the opportunity zone!

Why do people choose to live in opportunity zones?

1. Cost. As mentioned, the cost of buying property is cheap, and when you can walk to buy groceries and other staples, you pay less in gas.

2. Convenience. Many people want to reduce their dependence on the car.

My experience in the opportunity zone

When I bought my first house, I bought it in an opportunity zone. My wife and I liked the house because the price was right and because of the location, nearby shops. Not only would we go for a walk to buy food and rent movies, but we would also walk around the neighborhood at night to get some exercise.

The area was a mix of all kinds of dwellings. In a four square block where we lived there were owner-occupied houses, townhouses, apartments, and trailer parks. Our home was located three blocks from two supermarkets, a video rental store, 7-11 and Circle K stores, an auto parts store, a Taco Bell, a McDonald’s, and a pharmacy. Of course, there were also some rougher edges in the neighborhood, some strange characters in the neighborhood, but they were in the minority.

We lived in that house for 9 years. Then we bought another house and kept our first house for rent. I recently bought a second house on the same block. It has been a place where it is very easy to find good tenants.

I don’t feel like living in that area again, but it is a place where I love having rental properties.