Tax Day Freebies!! Incorporate Or Form an LLC Free on Tax Day

April 15th.  Either you love it, or you hate it.  Some people are off dreaming of what kind of luxury vacation they will take on their tax refund, and some of us, well, probably most of us, are debating canceling cable or constructing meal plans around ramen and bologna to help ease the pain of writing a check. 

Regardless which camp you fall in this year, be sure to check out Tax Day Freebies! Because writing a big check or booking travel plans can only be made better when done with a free Arby's curly fries.

Own real estate? Perhaps a slurpee won't help you out, but did you know MyCorporation is offering an "Incorporate or Form an LLC Free on Tax Day". Real Estate is a great vehicle for investing, one of the best ways to protect it and yourself is to keep your properties in an established LLC (Limited Liability Corporation). 

While the Free LLC and Tax Filing Assistance are great, I can't help but love this companies spin on April 15th. I'm not sure what I would do with an apple scented urinal screen, but boy do I like the sentiment!

MVPee.com is giving out 1,000 “Abolish the IRS” apple scented urinal screens FREE to the first 1,000 people that request (+ $3.00 shipping/handling). 

The Economy Hit The Reset Button

Are we in the middle of just another market cycle?
Or is this a full blown reset of the current economy and the way we know it?

If the best advice is to invest in the valleys and troughs of a normal business cycle, wouldn’t you rather buy commodoties at the bottom of the biggest trough in this generation’s history?

Steve Roesch
Market Advisor
http://northpointgroup.vflyer.com/
steve@northpointgroup.com

You had me at ZERO

Recently I was talking with a very good client of mine about a purchase, and I was reminded of one cardinal rule.

Keep it simple.

I was talking to him about a property that could be bought for ZERO down, rented, had positive cash flow, and was in a nice location of a popular city in the US.

His reaction was, "This sounds too good to be true, does it work?"

I was so excited that a buyer wanted to talk to me about investing in real estate, rather than punching me in the face or throwing their soda at me, (both have never happened to me, by the way) that I simply reacted without thinking.

My response:

It does work. These are real fannie mae approved loans. They use the equity as the down payment. It only works when 1.) a seller that owns the property 100% free and clear, and is willing to sell and get paid off later. 2.) local bank willing to finance under these terms. None of the big banks will do it. They only see investing in black or white today. But a local bank knows and understands its market better and as long as they have a Fannie Mae stamp, they know it's easier to sell on Wall Street.

The buyer essentially takes the 100% price, uses 25% of the equity as his down (zero cash) and borrows 75% at 6.125% 30 year fix interest rate. Terms that cash flow all the time. The cash required is usually just closing costs. Anywhere from $2000 to $7000 depending on the property.

Everyone says its too good to be true. So, what is the catch?

The catch is… you could have paid cash for the house and got it cheaper 3 weeks earlier, if you were willing to spend ALL cash, buy it from the bank, make your own repairs, settle all outstanding liens (whatever were discovered) and then find a renter. Essentially, the catch is, yes there is a better deal if you are willing to take all of those risks.

This is a way, to still get a great deal, and hardly put any cash out of pocket, and having most of those risks being taken by the wholesaler REO company.

My company makes its money by being the lender, and a commission as the broker.

He said, "Stop, you had me at Zero"