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Thursday, March 23, 2006

Asheville Real Estate Journal 

Asheville Real Estate Journal

ECO Invest
The IRA, LLC, & the Self-directed IRA

in Asheville Real Estate Investment Portfolios


The self-directed IRA and IRA LLC (Limited Liability Company) are vehicles to invest in real estate. They come in two forms: tax-deferred and tax free. (See other descriptive articles archived at my BLOG) Problem is-- IRAs often simply are NOT used because many investors erroneously are told by their IRA trustees that they cannot use IRAs to invest in real estate.

I thought that myself until a few years ago I had the good fortune to meet a champion of investing in real estate who showed me how to use my IRA to my benefit.

I learned that the creation of a self-directed IRA or IRA LLC enables you to choose what you would like to invest your money in – it can be raw land, an ECO-development, or a sustainable building – for the ECOinvestor, all good news.

When setting up this option for investing, look into an LLC because it is flexible and you can add and subtract investment partners easily. Setting up an LLC and using an attorney who gives you an opinion letter stating whether the transaction is legal or prohibited. This is valuable protection for you. The traditional tax-deferred IRA allows yearly contributions to a tax-deferred account using your pretax dollars. You are not taxed when you deposit into your IRA. NOTE: You are taxed when you withdraw money upon retirement.

Many types of IRAs can be converted to self-directed accounts including: Traditional IRAs, Sep IRAs, Roth IRAs, 401(k)s, 403(b)s, Coverdell Education Savings (ESA), Qualified Annuities, Profit Sharing Plans, Money Purchase Plans, Government Eligible Deferred Compensation Plans, and Keoghs.

I can recommend that you interview and select a qualified expert to guide you through the process of setting up a real estate investment IRA. You may choose to begin by doing some research on your own. Here are a couple of good resources for more details.
http://www.ashevillesavings.com/site/p_banking-investments.html
info@entrustcarolinas

Let me know if you would like more information

ECOinvest@Asheville1031Realty.com




Monday, March 20, 2006

Asheville Real Estate Journal 

Asheville Real Estate Journal


ECO-INVESTMENTS in Asheville Real Estate
THAT LOOK TO THE FUTURE
~
LAND

The team at Asheville1031, The ECO-STEWARD Firm is pleased to be a part of a growing number of folks who are “imagineering” a positive future where generations to come can enjoy healthy living spaces and unspoiled beauty in Asheville realestate and in Western North Carolina’s Appalachians, in general.

Like you, many REALTORS® here in the Asheville area are great lovers of nature. In fact, quite a few of us spend our weekends in the mountains hiking the Appalachian Trail, possibly hunting for waterfalls. REALTORS® who are Land Specialists can sense where they are by the very "feeling" of the land. Imagine a horse farm with steep trails to alpine pastures at 4,500 feet at the far end of Madison County to the north of Asheville. Now imagine how different you would feel in the rolling pasturelands in Polk County to the south of Asheville. Do you have a knack for sensing land, too?


If you also are a person who “feels” a sense of place and envisions stewardship of land, we would like to share information about practical ways you can invest in land, create a land legacy and enjoy a meaningful return on your investment. Conservation buyers invest in properties that are subject to a permanent and legally binding conservation restriction or who will impose a conservation restriction as part of their purchase.

A conservation restriction – also known as a CONSERVATION EASEMENT–limits certain uses of a property, such as the right to subdivide and develop. : Because use of this land is permanently restricted, land subject to a conservation restriction is generally appraised at a lower value than comparable unrestricted parcels and donation of such a conservation restriction can constitute a charitable gift and has strong tax advantages.A conservation restriction being imposed by the buyer at time of purchase can be customized to the needs of both the buyer and the land.

If no home exists on the property, a restriction can usually be structured to allow some construction under guidelines that protect the property’s natural assets. The property remains in private ownership and on the local tax rolls. The restrictions stay with the property, even if it is sold or transferred, and therefore limit the use of the property permanently. These restrictions are binding in perpetuity, and are designed for a distinct conservation purpose.

Many communities reduce property tax assessments on land with a conservation restriction in place, because the site's potential to be further developed has been reduced or eliminated. Another advantage is limited housing development and sprawl, which cost communities more than they contribute in tax revenues

CONTACT
ECOinvest@www.Asheville1031Realty.com

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Wednesday, March 01, 2006

Asheville Real Estate Journal 

Asheville Real Estate Journal


Checklist for finding a 1031 Like Kind Exchange Qualified Intermediary

These days it seems that more and more of our clients are opting to exercise a “Green-Sustainable” 1031 Exchange…


This is the first time quite a number of them have taken an interest in this tax advantage. One of the essential elements in the 1031 Exchange is the successful hunt for an the required ACCOMMODATOR. So here’s a Checklist for finding a Qualified Intermediary as required in the 1031 Like-Kind Exchange process.

_____ Is the QI/Accommodator a bona fide member of the FEDERATION OF EXCHANGE ACCOMODATORS (FEA)?

_____ Does the Accommodator hold a Certified Exchange Specialist™ designation?

_____ Is the firm bonded by an insurance company?

_____ Will the firm provide a copy of the bond?

_____ What is the Qualified Intermediary’s professional background? (Attorney? CPA? with 1031 experience?)

_____ Will the QI take responsibility for losses if a mistake is made or the transaction does not qualify with the IRS?

_____ Who receives the interest on the escrow account? (The Accommodator may quote a low fee as a tradeoff for receiving the escrow interest.)

_____ Is the QI accessible not only to you, but also to your real estate professional? Is he willing to meet with your REALTOR® face-to-face?

_____Since other experts including your real estate professional will be involved in order to assure due diligence, review documents, handle financing…is the QI a team player?

____ Will and adequate paper trail be created?

_____ Is the QI accustomed to handling the type and size of transaction similar to yours?

_____ Does the QI have a specialty? Sustainable properties? Agricultural land?



MORE Really Useful Asheville Real Estate and 1031 INFO:
http://www.janeanne.com/resources.asp


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