John Galane from Mountain West IRA discusses how to hold real estate inside of your retirement accounts. Those looking for cash flow and greater control of their retirement assets might consider self-directed plans.
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Today our guest on the show is Mike Buice from L&M Insurance discusses how to get the correct coverage on your investment properties. Mike is also an investor of real estate. Insurance for investment real estate is different from insuring your own personal residence. Mike takes us step by step through various scenarios in insuring properties the right way.
Important Points Discussed on the Show
Quote of the Show
“Insuring a property properly is vital.”- Mike Buice
Contact Information
If you have any questions regarding insurance you can contact Mike Buice at
813-672-4100 or visit the website at http://landminsurancegroup.com/ group.com.
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Selling a property and dreading writing a check to the IRS on the capital gains? There is a way you can DEFER capital gains on real estate. It is written in the Code of the IRS as Code Section 1031, or 1031 exchanges, as they are commonly known. What is a Section 1031 exchange? Learn more here:
Our guest for this podcast is Michael Brady. Michael is the Vice President and Corporate Council for Riverside 1031, and a Certified Exchange Specialist. and has over twenty years of experience in dealing with 1031 exchanges. Michael takes us through some of the excellent advantages of executing a 1031 exchange, as well as, the basic concept of a 1031 exchange. He also reveals how a 1031 exchange can help investors defer taxes when selling real estate.
The rules are constantly under fire, however, from Congress. What many don’t understand about 1031 Exchanges, though, is they have far reaching implications in to the economy, beyond just real estate. 1031 exchanges can also be used for capital equipment and other assets. Meddling with the current regulations could have severe consequences for the economy as a whole. Learn what is being proposed in DC, how it will effect the real estate and the implications for the entire economy.
Important points discussed on the show
Quote of The Show
“A relevant topic for everyone in real estate investment.”– Steven
Contact Information
Michael Brady and his company provide their service to all fifty States so if you are looking to contact him…
Email- Mbrady@RS1031.com
Phone- 718-226-0300
Also if you are looking to voice your opinion visit 1031taxreform.com and follow the link to send a message to your local representative.
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In 2010, Larry Feldman and his investment partners had decided it was time to strike when the iron was hot. Tampa Office vacancies had plummeted, which took office prices with it. Feldman was gun shy of the Tampa region, as he really did not see it is a market worth pursuing.
Finding deals in other markets, however, proved to be challenging, so he decided to take another look at Tampa and MAN, is he glad that he did! The rock bottom prices presented a handful of opportunities that were too good for Feldman to turn away. Since then, he has been one of the biggest deal makers in the area and stands to make millions on bets that the office markets had bottomed out purchasing the Wells Fargo building in Downtown Tampa and Morgan Stanley building in St Petersburg, among others.
Feldman’s strategy has been to focus on the core business sub-markets (densely populated downtown office space cores), buy under-leased real estate at rock bottom prices, invest in building renovations, build relationships with brokers and try to flip. He stands to make millions from his timing of this market.
Feldman and his partners bought the Wells Fargo building, one of the signature office buildings in downtown Tampa for $115 per square foot and invested $15 per square foot in improvements. Replacement costs for the asset could approach as much as three times what they paid for the property.
He credits his strategy for working closely with brokers as a reason for quick turn-arounds on assets with stubbornly high vacancy rates.
Feldman is not your typical hands off institutional asset manager. He is very involved in the property management of his real estate. He subscribes to the old fashioned way of “Management by Walking Around.” On any given day, you can find Feldman in his Downtown Tampa office in the Wells Fargo building, working the phones, walking the property, checking on his tenants and trying to work on creative ways to make sure the brokerage community keeps him on the top of their list when they have a hot prospect.
We think you will enjoy Larry’s approach to deal making.
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Investing in real estate can be a terrific method of accumulating wealth. But, where do you start? What asset class is best for you?To whom or where can you turn to put you on the path to success?
It can be quite intimidating for beginners trying to make decisions on which paths to take when they are getting started. No one is going to teach you everything that you need to know, but hopefully you can pick up some pointer on the path that best suits you. In this episode, we discuss some tools you might use to put you on the path to getting started in real estate investment….how to start investing in real estate!
Points
“It’s difficult to earn consistent revenue in the stock and bond market. Yields to Maturity on bonds are at historically low rates. Real estate, with proper underwriting, can produce superior, relative cash yields.”
“Owning real estate does not mean you are buying yourself a full time job. You can be as involved as you want. There are plenty of firms and services available to investors that can help investors manage their investments.”
Where to find resources?
Podcasts:
Books:
Millionaire Real Estate Investor
Real Estate Investment Associations (just a few examples, there are hundreds in Florida):
Sarasota
West Florida
Hillsborough – Pinellas
Palm Beach
Orlando – Central Florida
Metro Dade
https://www.facebook.com/pages/Dade-Real-Estate-Investors-Association/186867381148
Jacksonville
For a Personal Consultation on where you should begin, contact 813.498.2186