How to Invest in Real Estate with Your IRA and 401(k) and Pay Litle or No Taxes: Turn Your Retirement Accounts Into Wealth-Building Machines!

by Hubert Bromma

Book Overview

Real estate investment strategies that put the gold in the golden years

This accessible, easy-reference guide shows how to turn a retirement savings plan into a tool for generating major income. Hubert Bromma, an experienced investment professional in real estate and retirement funds for nearly 30 years, take you through the basics of investing with retirement accounts, from choosing the right plan to buying real estate. The book also includes...

• Format: Paperback
• Language: English
• ISBN: 0071471677
• ISBN13: 9780071471671
• Release Date: November 2006
• Publisher: McGraw-Hill Companies
• Length: 256 Pages
• Weight: 0.85 lbs.
• Dimensions: 0.6" x 7.4" x 9.2"

Customer Reviews

What this book is....

I read the above review and I just had to object. This book is not about teaching you HOW to invest in real estate, or the mechanics you should follow. That subject is left to other books you should read. The proper way to invest in real estate is a decision ultimately handled by you and your attorney, but if you've bought investment property before its understood that the property is held in its own LLC. Investors that are unfamiliar with this concept need to continue to educate themselves with books, mentors, and their attorney. There are fees involved with using your IRA to invest, but they are usually much less than the fees involved when investing in mutual funds. Front loaded funds take a chunk right away and back end funds take fees through out the life of the investment. I don't personally have an Entrust account (mine's with Security Trust Company) but I set my dad's up with Entrust. He was amazed to see how cheap it was. If an investor has a basic concept of investing, then this book shows you how to use your IRA as a source of funds to do the investing. It illustrates how to use the IRA as either a private lender or an equity partner and the requirements for both. I have been investing in real estate with my IRA for two years and it is no more difficult or complicated than working with a private person. There are specific guidelines you must know about, but that's why you buy the book. The review above say, "it avoids the topic of fees and lack of control, that are involved in maintaining any real estate investment within an IRA.". This is simply nonsense and sounds like someone who has not invested before. Mr. Bromma, or any other author for that matter, couldn't possibly offer advice about fees since that differs from custodian to custodian, just as it does from mutual fund to mutual fund. As far as lack of control, most investors move TO real estate because of the INCREASED amount of control. How much control do you have over a fund manager's choice in the stocks and bonds they select? On the other hand, how much control do you have over the contractor you use for the house you're rehabbing? "It also doesn't mention any of the costs of setting up an LLC with one or more members. Setting up an LLC is a likely scenario and was, in fact, recommended to me, by Entrust. Buying real estate within an IRA is very different than doing the same investment outside of an IRA." The first line, again, cannot be answered by the author, because the cost to start an LLC is dependent upon the state and attorney you use. In Chicago the number of members has nothing to do with the cost of the LLC set up, but may increase the amount the attorney charges you for your operating agreement. Buying real estate is inside your IRA is NOT DIFFERENT NOR MORE DIFFICULT than doing it outside of it. "Given the fees involved with this type of investment, what would be the minimum investment recommended to absorb these fees/costs and still realize an accepta