Estate Archives - BOLLYWOOD SURKHIYAN

Medicaid Estate Planning: Maximize Your Results

For those of you not familiar with the 2005 Tax Reduction Act, some of the provisions address specific transfers by seniors under the new Medicaid nursing home provisions. Under the new provisions, before seniors qualify for Medicare assistance into a nursing home, they must spend-down their assets. These new restriction have a 5-year look-back. The look-back used to be 3 years.

By a vote of 216-214, the U.S. House of Representatives passed budget legislation that will impose punitive new restrictions on the ability of the elderly to transfer assets before qualifying for Medicaid coverage of nursing home care. You can link to the new law Deficit Reduction Act of 2005 in PDF format, click on: http://www.rules.house.gov/109/text/s1932cr/109s1932_text.pdf. The section on the transfer provisions begins on page 222.

WHAT’S MEDICAID?

What’s Medicaid? Medicaid is a government assistance program for people over the age of 65 or who are disabled. Medicaid assistance was designed for those who could not afford medical expenses (for the poor) but Medicaid has become the default for the middle class. The middle class has become the new poor.

Medicaid planning and Medicaid rules are complicated. The government is mandating a 5-year look-back on any transfers you may have made to disqualify you from entering the nursing home. Before the 2005 Tax Reduction Act it was 3 years. The transfer of any assets by the elderly has taken a notation of a “fraudulent conveyance” or in government parlance “deprivation of resources.”

These new rules are spousal impoverishment programs designed to punish the healthy spouse. If one of the spouses gets sick, all resources have to be spent before you can qualify for government assistance. These new restrictive rules punish the healthy spouse leaving the healthy spouse at the mercy of welfare or her children. It’s very humiliating when seniors have planned their retirement based on their ability to keep their home.

ASSETS YOU MUST SPEND DOWN

Assets that you must spend down before you can qualify for nursing home assistance. Anything you own in your name or together with your spouse. Cash, savings, checking, certificate of deposits, U.S. Savings bonds, credit union shares, Individual Retirement Accounts (IRA), nursing home trust funds, annuities, living revocable trust assets, any revocable Medicaid estate planning trust, real property occupied as a home, other real estate you hold as investment property or income producing property, cash surrender value of your life insurance policy, face value of your life insurance policy, household goods and effects, artwork, burial spaces, burial funds, prepaid burial if they can be canceled, motor vehicles, land contracts, life estate in real property, trailer, mobile home, business and business property, and anything else in your name or your possession.

WHAT DO YOU MEAN “FRAUDULENT CONVEYANCE”?

What do you mean by “fraudulent conveyance” or “deprivation of resources.” If you give away your assets and you do not receive an equal amount (value) in return, the transfer is a deprivation of resources and you have committed a fraudulent transfer, (you give your house to your children for $100.00 when the fair cash value of your home is i.e. $150,000). If you gave your house to your children for $100 sixty months (5 years) before you entered the nursing home, you “deprived your resources” from the nursing home expenses. Unwittingly, you also incurred a gift tax on the difference between the $100.00 and the $150,000 and in addition you may have cheated the government out of Estate Taxes.

HOW FEDERAL GIFT TAX APPLIES?

The gift tax rules apply to the transfer by gift of any property. You make a gift if you give property (including money), or give the use of property, or give the income from property without expecting to receive something of at least equal value in return. If you sell something at less than its full value or if you make an interest-free or reduced-interest loan, you may be making a gift.

The general gift tax rules are that any gift is a taxable gift. However, there are many exceptions to this rule. Generally, the following gifts are not taxable gifts:

– Gifts that are not more than the annual $12,000 exclusion for the calendar year beginning in 2006 (This is called the Annual exclusion for any 12 month period, see below).

– Tuition or medical expenses you pay directly to a medical or educational institution for someone,

– Gifts to your spouse,

– Gifts to a political organization for its use, and

– Gifts to charities.

– Annual gift tax exclusion. A separate annual gift tax exclusion applies to each person to whom you make a gift. For 2007, the annual gift tax exclusion is $12,000. Therefore, you generally can give up to $12,000 each to any number of people in 2007 and none of the gifts will be taxable. However, gifts of future interests cannot be excluded under the annual exclusion provisions. A gift of a future interest is a gift that is limited so that its use, possession, or enjoyment will begin at some point in the future. A federal Gift Tax return is filed on form 709 for taxable gifts in excess of the annual exclusion.

FILING A GIFT TAX RETURN

Generally, you must file a gift tax return on Form 709 if any of the following apply:

– You gave gifts to at least one person (other than your spouse) that have a fair “cash” value of more than the annual exclusion of $12,000 for the tax year 2007.

– You and your spouse are splitting a gift.

– You gave someone (other than your spouse) a gift of a future interest that he or she cannot actually possess, enjoy, or receive income from until some time in the future.

– You gave your spouse an interest in property that will be ended by some future event.

– Your entire interest in property, if no other interest has been transferred for less than adequate consideration (less than its fair “cash” value) or for other than a charitable use; or

– A qualified conservation contribution that is a restriction (granted forever) on the use of real property

HOW ESTATE TAX APPLIES?

Estate tax may apply to your taxable estate at your death. Your taxable estate is your gross estate less allowable deductions. On the date of your death, everything in your name is taxable. Take inventory of what you own: Cash, Savings and checking accounts, CDs, Stocks, Mutual Funds, Bonds, Treasuries, Exempts, Jewelry, Cars, Stamps, Boats, Paintings, and other collectibles, Real Estate … main home, vacation spot, investment realty, your Business, Interests in other businesses, Limited Partnerships, Partnerships, Mortgages and notes receivable you hold, Retirement plan benefits, IRAs, or any amounts that you expect to inherit from others.

Many people prefer not to think about what will happen on their death, but none of us are immortal and failure to make proper plans can mean that we leave behind is a mess which has to be sorted out by our nearest and dearest, at great expense and inconvenience, at a time when they are emotionally bankrupt.

Your federal death (estate) tax, up to 55%, is based on the “fair cash value” of your property on the date of your death, not what you originally paid. State probate and death taxes are based on the “location” of your property. Thus, if you own property in different states, each state has to be probated and each will want their fair share. The only real alternative to a will arrangement is to set up a trust structure during lifetime which, with careful planning, can operate to eradicate probate delays, administration costs, and taxes as well as giving a large number of additional benefits. For these reasons the use of trusts has increased dramatically.

WHAT IS YOUR GROSS ESTATE?

Your gross estate includes the value of all property in which you had an interest at the time of death. Your gross estate also will include the following:

– Life insurance proceeds payable to your estate or, if you owned the policy, to your heirs;

– The value of certain annuities payable to your estate or your heirs; and

– The value of certain property you transferred within 3 years before your death.

WHAT IS YOUR TAXABLE ESTATE?

The allowable deductions used in determining your taxable estate include:

– Funeral expenses paid out of your estate,

– Debts you owed at the time of death,

– The marital deduction (generally, the value of the property that passes from your estate to your surviving spouse), and

– The charitable deduction (generally, the value of the property that passes from your estate to the United States, any state, a political subdivision of a state, or to a qualifying charity for exclusively charitable purposes).

HOW GIFT TAXES & ESTATE TAXES APPLY TO MY ESTATE:

If you die in the tax year of 2007, your “taxable estate exemption” is $2,000,000, your “gift tax exemption” is $1,000,000 and you have a maximum estate tax of 45%.

If you die in the tax year of 2008, your “taxable estate exemption” is $2,000,000, your “gift tax exemption” is $1,000,000 and you have a maximum estate tax of 45%.

If you die in the tax year of 2009, your “taxable estate exemption” is $3,500,000, your “gift tax exemption” is $1,000,000 and you have a maximum estate tax of 45%.

If you die in the tax year of 2010, your “taxable estate exemption” is $0.00 (i.e. it’s repealed), your “gift tax exemption” is $0.00 (i.e. it’s repealed as well) and you have a maximum estate tax of 55%.

13 times in 32 years, congress has changed the rules. Congress is always tinkering with the “Death Transfer Tax.” For more information on what is included in your gross estate and the allowable deductions, see Form 706.

HOW TO AVOID THESE UNPLEASANT RESULTS?

You can avoid all of the above unpleasant results and filing requirements with an irrevocable trust implemented 60 months before you plan to qualify for the nursing home.

By repositioning your assets (transferring your assets) from you to an irrevocable trust, you will NO longer own the assets:

– you don’t qualify for the probate process, and

– you do not have to file an estate tax return,

– because on the date you qualify for the nursing home you do NOT own any assets,

– at the time of your death you do NOT own any assets for the probate process,

– and at the date of your death you do NOT own any assets to report on your estate tax return.

So You Want to Start Your Own Real Estate Business, Huh?

First, allow me to say congratulations on deciding to be your own boss. It is one of the toughest and scariest, yet rewarding decisions an individual can make. You are about to venture on an incredible, life-long journey filled with limitless possibilities. However, make sure you are properly prepared, or else the outcome may be devastating.

The main purpose of this article is to serve as a detailed checklist for preparing, creating and structuring your own real estate business. I will also explain the advantages of detailed planning and management, and the pitfalls for failure to do so. First things first: what’s the name of your new company? What type of business entity will you form? A sole proprietorship is the quickest and easiest; however, it may lack the necessary asset and liability protection warranted by your business model. My personal favorite has always been the Limited Liability Company (LLC). It’s quick, inexpensive, and provides individual shelter.

In addition, in which state will you register to do business? Are there any state and/or local licensing requirements? All of these questions should already be answered in your business plan. Some of you may be thinking, “I am going to buy foreclosed properties, rehab them, and sell them for a profit. What further explanation or planning do I need?” Well, if this is your mindset, stick to your full-time job. I recommend going online (Google it) and downloading a business plan template to assist you with development.

In addition to your business plan, you better have projected financial statements, including a cash flow forecast, projected income statement, and anticipated balance sheet. There are numerous advantages of generating these statements. Clearly depicting your yearly operating expenses allows you to recognize the number of real estate transactions you need to successfully complete in order to break even and/or realize a profit. Taking the time and effort to implement these tasks will help you overcome some of the major impediments when starting your real estate business.

The biggest recurring mistake I’ve seen amateur entrepreneurs make is quitting their full-time job even before completing their very first real estate deal! Undercapitalization is one of the biggest oversights when starting a new business. If you do decide to quit your full-time job, make sure you have enough of a monetary cushion to cover your living expenses for twelve months. Ideally, you want to have a surplus in your bank account in order to fund your business (i.e. – entity formation fees, licensing, marketing expenses).

Finally, will you be self-employed or a business owner? No, they are not the same thing! Being self-employed means when you stop working, your business stops working. If you are not marketing for leads or answering phones, then no one is. Being a business owner (hiring and maintaining employees) allows the freedom and independence that entice people to start their own businesses in the first place. Most amateurs quit their full-time job expecting to start and sustain their own business profitably, while playing golf or going to the beach four days a week. WRONG! The transition from self-employment to business ownership is the hardest obstacle to overcome. It took me almost a year of interviewing hundreds of job applicants, working fourteen hour days, pulling all-nighters, and sacrificing my personal and social life to successfully build and develop each of my businesses to the point where they could all run on “Auto-Pilot.”Remember, a business is only as strong as its weakest link.

I hope that what I have shared with you has been of great value. These observations and opinions are my own and stem from what I have learned and experienced over the last five years by way of educational literature, private entrepreneurship meet-up groups, numerous real networking events, and, by far the most crucial and valuable means, trial and error. Still there is so much to discuss and write considering that this topic, in itself, serves as the basis for three hundred page bibles! At the very least, herein lies the grounds and basic framework for preparing to start your own real estate business including obstacles to anticipate.

8 Benefits of Having a Real Estate Website

Whether your old school or on the cutting edge of technology in your dynamic real estate business, everyone needs a website in this day and age. The benefits of having a real estate website are many in number, and the risks of getting left behind without one are very real. So, what exactly are these benefits? Read on for a brief sample.

1- Build a Strong Web Presence

Get found easier and instantly, via Google searches or links on other sites. Have your office’s address, phone numbers, e-mail address, logo, current listings, and specialization displayed at the click of a mouse. Show up in more places, under more categories, and associated with specific strategic keywords. If you combine your real estate website with the rest of a comprehensive marketing campaign, people can find you in so many different ways, your business will be hard to miss!

Make sure to create a listing on Google My Business for local listings, which are area-specific. Yes, you can select who sees you first, depending on where they live.

2- Generate More Leads

This is a no-brainer. Gone are the days of paying thousands of dollars for Yellow Pages ads and highway billboards, hoping enough people will see it and maybe call your office. Do you also want to pay someone just to answer the phone for you full-time, and rely on methods that the average client no longer uses? Your real estate website is like your modern-day “head office”. This should be the first and most important place your potential clients find you, and if you use an online form to collect client info, then the real estate leads are immediate, free, and warm. A website can also serve as the place that you direct clients to your social media, or vice versa, and have the public sign up for your impactful newsletter for regular announcements.

You’ll also now have a thorough database of potential client info for ongoing listings distribution or announcements.

3- Provide More Exposure to Your Properties

The bulk of a real estate website should be dedicated to property descriptions. This is the opportunity to display full-detail descriptions, brilliant digital photography, and 360-degree virtual tours. You can use as much or as little space as you like, provide clickable links, and make it a more interactive experience for the visitor. The listing created on your real estate website can also be shared (for free) via external links to your own social media pages, other real estate websites, community websites, or anywhere else your marketing efforts lead you.

Again, gone are the days of paying for paper advertising in a weekly or monthly magazine with black and white photos, lost among thousands of other listings in the same book. This just isn’t effective anymore, and can even be a waste of money.

4- Tell Them More About You

A real estate website is the perfect place for potential clients can learn more about you as a professional. This is more important in real estate than almost any other service business. Talk about and splash photos displaying awards you have won, events you participate in, community involvement, as well as your personal background and qualifications. When people get to know you this way (as an individual) they get to like you and trust you. This complements your social media and other real estate marketing strategies perfectly.

5- Tell Them About Your Business

Why wait for a local journalist to write an article about you in the paper or local magazine? Want to be known and respected in the local community? Modern technology puts the power back into your hands. Put the information out there yourself, and draw readers in to see it through strategic web techniques.

For no extra cost, you can regularly publish and update details such as the regions you work in, your years of experience, and areas of real estate expertise. Do you have a knowledgeable team? Are you influential in a hot part of town? Do you specialize in condos, revenue properties, or commercial buildings? Put that out there, forever and visible to the entire world. Include high definition photography and videos to reinforce the message, and make a strong first impression they won’t forget.

6- Create a Brand for Your Practice

If you’ve never succeeded in transforming yourself (and your practice) into a brand, or maybe never thought about it, then this is the way. Think about the biggest, most successful, “celebrity” real estate brokers in your area. They are household names, aren’t they? The public is familiar with their names and faces, the same way they know the name of the local grocery store, florist, or school. Top of mind awareness is ultra important in any business.

Think about it. Your picture everywhere, a logo people will remember, a slogan that rolls off the tongue. A properly executed real estate website can begin this process for you, and position you and your agency as the brand of choice in your local market.

7- Use It as Part of Your Listing Presentation

A listing presentation is what an agent shows to the home seller to convince them that he/she is qualified to sell their home. It usually includes stats, a marketing strategy, pricing, relevant experience, and the added value the agent brings to get the job done. If much of this information is already on your website, you save time and effort. Maybe your potential seller already saw a lot of these details and is already impressed by you before even placing the first call.

8- Exchange Information More Easily

No need for potential new clients to call and wait to speak to your receptionist. This small gesture alone can turn off the ultra busy and impatient 25 to 50-year-old shopper, who is used to having questions answered instantaneously these days. No more need to set up an appointment, drive to meet each other, and invest time just for some initial “this is how we work” info. All this can be accomplished with a few brief lines on your real estate website, which people can read within seconds and move onto the next step.

No need for clients to wait for a form to arrive by fax, or stay on the phone during business hours, to fill in their personal info.

This also allows existing and potential clients to provide feedback in an open forum, so you know what they’re looking for. All this can be done 7 days a week, 24 hours a day, and not just during your office hours (when potential clients themselves are most busy).

Insider Secrets to Investing in Real Estate in Nicaragua

The word is out: “Nicaragua is the new Costa Rica” but with prices 45-55% lower than its southern neighbor. Nicaragua is well and truly bouncing back from its troubled and often misunderstood past and beginning to transform into a sought-after investment and tourism destination. Misconceptions still persist, but in many ways that only increases the opportunity that Nicaragua offers.

Nicaragua’s democratically elected government is showing a great capacity to reform in line with its commitment to a free-market economy. The country is booming and tourism is now the number-one industry, increasing by over 19% in 2005 even considering a record-breaking year in 2004. There is a real buzz in the air for this land of opportunity. Whether you are looking for a retirement or vacation destination, a place to start a business or a place to invest for the future, Nicaragua is definitely worth considering.

How much is good real estate information worth?

Market knowledge based on fact and base trends, rather than exaggeration and hype (in both directions) can make the difference between a good investment and a great one. The aim of this article is to capture the essence of the successful real estate investor in Nicaragua. We have consolidated the experience of hundreds of investors and identified seven success strategies for successful real estate investing in Nicaragua.

We hope that this encourages more investors into taking the first step in exploring real estate opportunities outside their home countries with confidence. Although imbued with a Nicaraguan flavor for the purposes of this article, many of the principles and steps highlighted in this article will also hold true in other investment destinations and contexts.

Seven success strategies for real estate investing in Nicaragua

1. Understand the link between tourism and real estate

Tourism brought in almost $200 million in 2005, according to the Nicaraguan government, more than any other single industry in its $5 billion economy. Current projections indicate that by 2007 there will be more than one million visitors to the country. The profile of visitors has shown a marked shift from budget tourists to more affluent and sophisticated travellers and higher-end hotels in tourist areas show consistently high occupancy.

There is strong relationship between leisure and vocational markets and the market for second homes and retirement homes. The areas attracting the most tourism are also generating the greatest levels of real estate activity. For certain real estate products, the link between tourism and real estate is particularly direct and immediate. Pelican Eyes…Piedras y Olas the highest quality hotel in San Juan del Sur, boasting occupancy levels well above industry standards since it opened, offers the possibility for investors to purchase a villa or duplex unit and participate in the revenues generated by the hotel.

2. Know where you are in a property cycle

Nicaragua has seen considerable price rises in the past few years. We have calculated percentage price changes for serviced lots between 2002 and 2005 for seven well known real estate developments on the Pacific that have been active over this period (most developments are more recent) and are still selling property. Over this period prices have risen by an average of 87%. Unimproved colonial homes in Granada have been rising by around 25% per year for the past three years. These price rises indicate that Nicaragua is now on the map as an investment destination, the positive price trend has started, but we are only just seeing the beginnings of a “second wave” of investors: the pre-retirement and retirement market.

Speculators still make up a considerable proportion of investors but an increasing number of pre-retirement / retirement and second home buyers are emerging. Much has been made of the ‘baby boomer’ generation when analyzing future buying trends in many markets worldwide. Baby boomers began turning 50 in 1996 and 78 million of them began to enter their period of highest earnings and greatest discretionary dollars. It is said that over the next 20 years the baby boomer generation will likely constitute the largest potential market ever for real estate products, especially second homes and timeshare/fractional ownership offerings.

The real estate product on offer has also evolved from simple lot sales (sold mainly to speculative buyers) to turnkey products with sophisticated facilities and services for longer term investors and the retirement market. A consistent growth in condominium constructions and sales has been evident for 18 months and is accelerating.

3. Follow trends not events

The bulk of foreign investment into the real estate and tourism sectors in Nicaragua is focused on the south-western part of the country. To take the Pacific coast as an example, in conjunction with Calvet & Associates, we have catalogued over 70 developments on the Pacific marketing to foreign buyers between El Transito and the Costa Rican border. The south-west of the country also includes the colonial town of Granada, Lake Nicaragua and the beautiful Laguna de Apoyo crater lake.

A number of investors are seeking out areas where there is less activity, for example beachfront areas further north. The prices may be lower in the northern part of the coastline – but for a reason – and it is important for investors to take this into account before they make an property purchase. The south western coastline has more dramatic geography, whiter sand beaches, richer biodiversity, better surfing, safer swimming areas and cooling lake and ocean breezes and, yes, also more recently investor momentum. This is not to say that there will be no price appreciation and development on beach areas further to the north but that a significant price differential will likely remain into the future.

4. Build a good network

Investors commonly complain of an overload of market information and building a good network will allow you to triangulate and contextualize information that you receive. Not surprisingly, given the excitement about the real estate market, there is a great deal of story telling and exaggeration that goes on. Do your due diligence, work with realtors who know the market, learn from professionals and be skeptical about claims that you can flip your property for 100% more “when the International Living investors come into town in a few weeks.”

A solid piece of advice is to buy only what you see. Make up your mind on what you think the inherent value is of the property that you are looking at is. Don’t factor in the “new coastal road” the “new airport” the “new Marriott” into the price. Certainly not if you are investing for the short term. Coldwell Banker Nicaragua has a network of lawyers, project managers, master planners and investment analysts who have a long track record of advising investors on real estate acquisition and development in Central America – these are independent third parties who can provide un-emotive grounded advice.

5. Due diligence everything

More specifically, retain competent legal representation and take out title insurance. Nicaragua has a particularly complex title history and some buyers who have not looked deeply enough into the title history of purchased property are now mired in difficult legal problems. A number of real estate developers try and persuade buyers to use their own legal team for property purchasing. Our advice is to employ independent legal advise at least to review (if not draw up) the purchase contract you are signing and check the title history on the property.

Coldwell Banker Nicaragua recommends investors to take out a title insurance policy. Other realtors do not recommend title insurance as the due diligence that ensues can slow down the purchase process and raise difficult questions. Seeking title insurance will force your lawyer to delve many years back into the property history of the property you are purchasing and follow a set of criteria in their reporting. If you are buying raw land parcels outside of a development your due diligence list needs to be longer and will cover infrastructure issues, environmental issues and development permits.

6. Invest with a confidence, develop with a conscience

This is the strap-line of the Nica Dev campaign run by Donn Wilson a developer, entrepreneur and surfer who has made San Juan del Sur his home. Nica Dev recognizes that real estate investors are entering into another country and have an obligation to respect the land, the people and the environment. When you arrive in Nicaragua the impression that you get is of a warmhearted nation that is welcoming to international visitors. In order for this warm feeling to endure into the future, local Nicaraguan also need to benefit from the real estate and tourism activity that is going on in the country.

Las Fincas, a development aligned with the Nica Dev campaign, is designed with sustainable development principles built in. For example a basic solar power setup is provided for everyone who buys and the project runs a series of active community outreach projects introducing highly effective, yet low-cost and low-tech, solutions for cooking and purifying drinking water. Skills and suppliers for low impact construction with elements such as rain water capture, composting and recycling, hard to find 18 months ago, are now readily available in-country. Coldwell Banker Nicaragua is launching its own campaign to generate funds for the Nica Dev fund as well as other projects that our clients are involved in here in Nicaragua. We will be giving our clients the opportunity to contribute to selected projects at the time of closing.

7. Become and expert in investing in real estate in Nicaragua…before you invest

Coldwell Banker Nicaragua Real Estate has launched a series of concise buyer briefings to help investors interested in the real estate market in Nicaragua in their decision making. The briefings highlight real estate hotspots, analyze market trends and set out good value investment opportunities.

Make Huge Money With Real Estate Foreclosures

Even though the current economic situation makes everyone think that it is the worst time to start investing, the real story is completely contrary. Since there are many homes being sent to foreclosure, and you may feel bad about the owners, you can take a step into becoming a fortune holder. Just take in consideration the next ideas so that you can start your way to financial freedom.

First of all you should stop feeling bad about the family that has been kicked out of his house and is being sold in foreclosure. There is nothing you can do about them. However, foreclosure homes are one of the best ways for any investor in real estate to make a huge profit in small lapses of time. Consider that houses that are auctioned through a foreclosure are often sold for ridiculous prices.

Since the world is currently facing a foreclosure epidemic, there are a whole lot of houses that are being sold and few investors that are buying. For this reason prices are almost absurd. All you need to know to succeed in the business is understand how much a particular property is worth. If you have an idea of how to value a house, than you shouldn’t waste your time and attend a foreclosure home auction this instant.

Real estate has always been a powerful business since people need a place where to live. Therefore, being the key holder to this necessity can bring a whole lot of cash into your pocket. No wonder why many people are turning into buying foreclosure homes today to find their financial independence. Believe it, people are always going to have a need for housing.

As stated before, the best place to start looking for economic independence within the real estate business is in foreclosures. If you have a small idea about house values you are sure going to succeed. Even if you are not ready to buy a house at foreclosure experts advise you simply head over to watch the process of auctioning. If a particular house meets your eye, you can track the auction and posterior sell to understand the possibilities of the business. This way, whenever you are buying a foreclosure yourself, you are going to have some previous experience and knowledge on how to handle your investment.

Flipping houses is the best way to make easy fast money legally. Since you are just playing with prices, you should take advantage of the situation and take your piece of cash from the business. Now that the market is facing a foreclosure epidemic from home auctions, it is the best time to enter the real estate dealing. There are very few times in an economy that can bring such promising rewards. However, you are not going to make it sitting in front of your TV and watching all the late night commercials on foreclosure fortunes. You need to step up and head to an auction so you can see how the business is done yourself.