TIPS FOR SUCCESS MICHAEL POGGI
Don’ t be Afraid to Change Directions When Necessary It is imperative that we are not afraid to change directions when conditions change. I have been a Real Estate Investor for many years, and have seen the ups and downs of the market. I have always watched the market conditions to determine what strategies make sense.
It is not wise to hold on to a strategy when the numbers and the market conditions no longer align. Sometimes it is tempting to jump into a real estate investing strategy that no longer yields great returns due to the market when in reality the time for that strategy has already passed. For example, at the top of the market is not the best time to purchase rental properties.
There are strategies that fit every type of market. Our team researches and determines the best strategies to invest in and changes directions when market conditions deem necessary.
Grow Your Wealth Tax Free By Investing in Real Estate using a SelfDirected IRA One strategy that has allowed me to gain tremendous wealth has been investing in Real Estate using a Self Directed IRA.
An IRA, An Individual Retirement Account is a personal savings plan that allows you to set aside funds for your retirement. Investments made within these plans grow in either a taxdeferred or taxfree environment.
A taxdeferred account is one that is funded with pretax dollars which means in most cases that you get a deduction for your contributions. When distributions are taken from the account those funds are taxed. Traditional, SEP, and SIMPLE plans are referred to as taxdeferred accounts.
By contrast a taxfree account is one that is funded with after tax dollars, which means that you do not receive a deduction for contributions. When distributions are taken, there are no taxes incurred in a taxfree account. The Roth IRA and the Coverdell Education Plan are referred to as taxfree accounts.
The Selfdirected IRA is a wellkept secret. You might not be aware that it is possible to invest in nontraditional investments such as real estate, mortgages, tax liens, mobile homes and other investments in an IRA. A truly selfdirected IRA will enable you to use your investment knowledge and expertise to prepare for your retirement. A selfdirected IRA allows one to make their own investment decisions from a wide range of acceptable investments.