I Have Seen a Lot of Ways to Make Money in Real Estate Investing. John is the First Person to Show Me How to Make it Off of the IRS!!!

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Here’s what & how most asset protection gurus sell:

• First they scare you with the “Evil Lawyers Refrain” (Play Phantom of the Opera or The Empire Strikes Back Darth Vader theme for audio effect).  They talk about how idiot plaintiffs make $2 million dollars off of idiot juries after spilling boiling coffee on themselves.  They get you worked up and afraid.  Before the pitch is over, you’ll be looking under the bed for evil lawyers every night.  Like government, the asset protection speaker creates a problem to solve and markets that problem through fear…..and then offers a convenient “solution”, in exchange for some serious dollars (or freedoms, in the case of government).
• They then talk about how expensive it is to hire attorneys of your own.  Hundreds of dollars per hour, hundreds of hours needed.  Even when you “win”, you really lose because of the cost.  Jacking up the cost of solutions makes their product more “valuable”, what a shock!  Reminds you of the phony appraisals some people use to sell over-priced houses.  You CAN save money on legal & accounting fees with good course material – but to suggest that you can eliminate such fees (as many authors do) is dangerous nonsense – there ARE certain things that no course can teach and professional help is a MUST.  Often, doing it yourself is penny-wise, pound foolish.

• Then they offer a comprehensive “solution”, in the form of an overpriced course.  The hallmarks of the typical asset protection course: 
  • Often written by a non-attorney, non-accountant.  Would you let a car mechanic operate on you or let a surgeon fix your car?  Absurd!  Even many of the speakers with credentials (JD, CPA, etc.) haven’t practiced in years, if ever.
  • Suggests that asset protection consists of using entities.  That’s partially correct, but quite incomplete and therefore misleading.  There is far more to it than that.  It’s like suggesting that investing consists of writing checks at closing.  That’s part of the process, but quite a lot has to be done to get there first!  The danger:  Investors with entities feel “protected” by their entities and therefore neglect certain fundamental asset-protection issues (e.g. - HOW you do business), which in turn creates needless vulnerability down the road.
  • Suggests that entities are necessary for huge tax savings.  While certain entity types can offer tax savings, most tax breaks are independent of existence or type of entity.  Also, many of the “tax benefits” touted by slick-sales types are illusory.  For example, you’ll invariably hear that C-Corporations can deduct $50,000 in term life insurance.  True – so what?  $50,000 of term life runs $120/year in premiums at most.  So if you are in a 30% tax bracket, a $120 deduction saves $36 in taxes.  Who cares?  That sort of “savings” isn’t going to enter into my decision to form or not form a C-Corporation.  But if you didn’t know that, the number that would stick in your mind is the $50,000 figure.  Great sales technique, poor tax planning.  These sorts of illusory benefits abound on the speaking circuit.  Entities CAN save you taxes – in certain situations for a certain price.  The trick is to weigh the true benefits against the true costs.
  • Suggests that you can set up your own trusts without an attorney.  Setting up entities (e.g. – LLC’s, corporations, etc.) is fun and easy.  With a few exceptions (e.g. –land trusts), non-attorneys should NOT dabble in trusts.  Even most lawyers are not competent where trusts are concerned.  Specialists are required.  For example, setting up your own living trust (for estate planning purposes) is generally a massive mistake.  People who sell do it yourself kits for trusts (excepting simple land trusts) are doing you a major disservice.  A few template documents and explanatory tapes will NOT qualify you to set up a trust! 
  • Suggests that you need Nevada or other foreign entities.  For most RE investors, such entities provide NO or INFINTESSIMAL additional protection but DO involve plenty of extra cost. 
  • Suggests the use of complex, multi-tiered entity structures.  Such structures are generally not appropriate for small to medium-sized RE investors.  They add little in the way of true protection, but DO add plenty of additional cost in terms of time and money.
  • Is quite expensive.  You should not be paying thousands of dollars for a course based on the “tens of thousands” in lawyer fees it will “save” you.  There are plenty of reasonably-priced products out there that provide quality information.  I think that particular advice applies to RE courses across the board.  A few hundred bucks for high-quality material can be reasonable, if the material is good.  Paying thousands is a bad joke.

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As you can tell, I’m not a big fan of most “asset protection” speakers.
Allow me to (immodestly!) offer one alternative.  My entities material is:

• Based on current experience:  I am a practicing attorney and accountant and real estate investor.  All of my clients are real estate investors.  I get lots of information from books.  Unlike many would-be “gurus”, I also learn from dealing with real estate, RE investors and the legal system day-in and day-out.

• Reasonably priced:  What you get for $299 will more than suffice to meet the entity needs of a small to medium sized RE investor.  Spending more than that makes little sense.

• Focused on cost-benefit:  Every business cost has to pay its own freight.  My material focuses on balancing the cost of entities versus their benefits.  Unlike many authors, I do not focus on benefits to paint a rosy picture and pump sales.  Instead, I look at the benefits in light of their costs – and costs arise in many ways (e.g. – your time).  I look at the benefits in terms of their true impact (Remember the $50,000 in deductible life insurance).  The costs of entities can also be indirect (e.g. – needing a licensed attorney to evict once a property is no longer in your personal name).  A high cost and lack of real benefit is why I do not care for Nevada entities in RE, for example.  Cost-benefit, cost benefit, always cost-benefit.

• Explanations:  I have heard countless investors lament that “I get different advice from different gurus….who do I listen to?”  I do not just tell you what to do (or not to do!) – I also explain WHY you should or should not do something.  That way, you can use your own judgment in making important decisions.  You can compare my “why’s” to others’ reasons for doing things (assuming that they provide any reasons at all).

• A state-by-state approach:  The first two-thirds of the course focus on universal principles, applicable across the nation.  The last third provides the documents needed to set up and run an entity in your specific state.  One size does NOT fit all.

• A KISS approach to setting up entities:  Setting up an entity is quite easy – any literate adult can do it.  We walk you through the process, step by easy step.  Most attorneys charge at least $500 to do this (I do).  Setting up ONE entity pays for the course!

• The documents needed to run the entity:  Meeting minutes, corporate resolutions, bylaws, they are all there.
• Clear Choice of Entity Rules:  Knowing which entity to use is of key importance, especially where taxes are concerned.  We provide an analysis of entity types and the reasons to use (or not use) each one.  Which entity for flips?  For rentals?  For Sub2’s & Lease-Options?  We answer those questions!

• Non-Entity Asset Protection:  Entities are just ONE step for proper asset protection.  We cover a number of other KEY issues, such as how to run your business and tips on drafting enforceable contracts.

• Cover the TRUE Nature of the “Lawyer Problem”:  This country does have a lawyer problem – but it is probably not what you think or what the gurus tout.  To effectively defend yourself, you must know the true nature of the enemy.

• Available for the Following States:  AL, AZ, CA, CO, FL, GA, IL, LA, MD, MI, MO, MS, NC, NJ, NV, OH, OK,TN, TX, VA, WA

My course, The Real Estate Investor’s KISS Guide to Entities, will teach you to select, set up and maintain the correct entity for your RE business.  You can pay $299 now, or you can pay MUCH more later when:

1)     You pay someone to set up an entity that you could have done yourself;
2)     You set something up yourself that you should have paid a professional to so (we help distinguish between #1 & #2);
3)     You pick the wrong entity for your business and pay extra taxes as a result;
4)     You overcomplicate the business, adding expenses but little real protection;
5)     You focus on entities to the exclusion of other important asset protection issues.

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But Wait, You have to See This Too...

The Real Estate Investor's KISS Guide to Bookkeeping

Save THOUSANDS of Dollars EVERY Year!
Good bookkeeping is the most underrated way to hammer the IRS and save thousands on your tax bill.

In The Real Estate Investor's KISS Guide to Bookkeeping, tax attorney, accountant and real estate investor, John Hyre, shows you exactly how to do it, year after year, EVERY year, including:

• How to keep your books and stop overpaying your tax preparer
• How to save thousands of dollars on professional fees
• How to do the books right and get the deductions you deserve
• How to break out certain assets and increase depreciation deductions
• How to get tax savings of up to $2,000 to $6,000 per year
• How to take the deductions and avoid IRS penalties
• How to keep your books so you can survive an IRS audit
• How to train your accountant (if you use one) to do it RIGHT
• And much, MUCH more

This course is written in plain English for the lay person, and it's very easy to understand, even for those of us who shy away from "numbers."

Order "KISS Guide to Bookkeeping"

OR

Grab both courses and Save $100!!

Order "KISS Guide to Bookkeeping"

OR

Grab both courses and Save $100!!

The Real Estate Investor's KISS Guide to Bookkeeping includes a "plug in" diskette that works with QuickBooks, Pro Version 2006 - 2009 (sold separately). Using QuickBooks saves you lots of TIME, because the computer performs the tedious, time-consuming calculations and quickly summarizes relevant information for you. The "plug in" customizes QuickBooks specifically for real estate, mobile home, and note investing.

No experience needed! This course is designed for the real estate, mobile home, or note investor who has little or no accounting, tax, or QuickBooks knowledge. There are many different ways to do the same thing. This course teaches you just one way to do things, over and over and over again. That keeps things simple and drives home the lesson for non-accountants.

For People Who HATE Accounting. Most real estate investors are far more interested in making money on deals than in learning the intricacies of tax law and accounting entries. This book is for you.

Most people learn best by example. Lots and lots of them are included in the book. You still should read the text. But to help you put it all together, there are plenty of examples with numbers plugged in. And the examples are written in plain English, not "taxese."



The Bottom Line: You can pay $299 now, or you can pay MUCH more when:

• Your accountant quickly does the books at a high billing rate to squeeze out your return at the last minute;
• The IRS figures your taxable income for you (it'll be high!) and charges penalties and interest;
• You miss out on the deductions that are your LEGAL right; and
• You make the wrong decisions for your business due to incomplete information.
  
  It's your call...$299 now, or much more later!

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This is a full day class recorded live you can watch online any time you want. Learn just what type of investing you should do without wasting extra time and money!!

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