What RichDad does not tell you is that it takes a driven personality to build a portfolio and if you have that type of personality you will not enjoy a retired state.

I am going to save your list for future reference.

Dumb Debt also means that the owner takes on recourse debt and personally guarantees it instead of non-recourse debt or other people’s debt (OPD) or cross collateralizes it with highly appreciated assets with low debt to value ratios.

I also use business lines of credit from banks, but for this banks definitely want to see revenue (usually 5-10x the amount of a mine they will give you).It is important to remember though that just because these lines and CCs are not immediately reported on your personal credit report, if you miss payments or default you are personally liable and the debtors will add it to your personal credit report.

You now don't seem like the type of person most of us would accept a recommendation from.

If there is a due on sale clause in the loan doc then it doesn’t matter what the loan officer told you verbally.I’m not an attorney, but from my understanding of the loan is still in your name personally a good litigator can pierce the veil and your LLC protection wouldn’t amount to much.

Hi, my husband and I are new to real estate investing and have a property we are renting out to tenants. We recently put the house under an LLC but are not sure if the lease should reflect the LLC as the landlord or k...

As this approach uses very little documentation, it is the least reliable methodology in preparing a cost segregation study.To see all of the steps included within each method, refer to Chapter 3 of the IRS Cost Segregation Audit Techniques Guide.What methodology has your company utilized?

Therefore, it is advisable for the client to consult with their CPA to receive personalized guidance tailored to their unique financial situation.

I'm not a professional Tax person.