From the Author
The genesis of this book begins with Real Estate Loopholes, which was first released in January 2003 and was on the bestseller lists that summer. Then, with additional information on landlord liability, insurance, and other legal and tax issues included, it was published as Real Estate Advantages in 2006. Of note, in his Foreword to that edition Robert Kiyosaki called the real estate bubble.
After the bubble burst there were many new issues for real estate investors to consider including the importance of clear title in the wake of record foreclosures. So we have brought in new and updated material including a chapter that questions the utility of land trusts as well as new changes in the laws of asset protection.
Fair warning: Some of the chapters contain the same information as the previous editions. This is because, with all due modesty, there is no reason to redo what was brilliantly brought forth the first time. But there are many new sections as well. We have incorporated up to date cost segregations, using IRAs for investing, and becoming a real estate professional We have updated Gary Gormans chapter on 1031 Exchanges from several years ago. And in this edition, and the reason we now call it Loopholes of Real Estate, we explore the medieval history of loopholes. I find it fascinating-and it only took me a decade to tie it together.
For this new edition I would like to thank Robert Kiyosaki, Tom Wheelwrigth, Gary Gorman, Brandi MacLeod, Mona Gambetta, Jessica Santina, Ken McElroy and Kathy Spitzer for all your valuable contributions. They are greatly appreciated.