Cape Coral Real Estate : November 2006

I'm sure you know that it is possible to invest in real estate through an IRA but are you aware of how simple this can be?

First of all, let's talk about the different self-directed accounts you can use:

Traditional IRA

Roth

Simplified Employee Pension (SEP)

Savings Incentive Match for Employees of small employers (SIMPLE)

Coverdell (education)

Health Saving Account (HSA)

If you don't have one of the above accounts already, you can set one up easily or roll over a 401K or another retirement account into one of these self-directed plans.

You'll want to speak with your accountant & retirement planner to determine which of the above vehicles makes the most sense to you. There are advantages & disadvantages to each. I'm obviously not a CPA, attorney or retirement planner but I can assist you in building your real estate investment portfolio.

Did you know that you can earn money tax-deferred into these accounts? And did you know that you don't have to have a lot of money in there to begin? Even with a $1,000 you could do wholesale buying. What is wholesale buying? Well, that's another post but the short answer is: Finding a property that is a great investment, getting it under contract & then assigning the rights of the contract to a third party for a fee. You never close on the property as long as the third party follows through with the terms of the original contract. The fee you earned goes back into your account, along with you original deposit - tax-deferred!

Another option for lower balances? Partner up with someone else. You can have many partners in a purchase & you'd simply own a certain percentage of the full amount. You can partner up with someone else's retirement plan, someone else's cash or even get financing!

This blog is getting pretty long now so I will continue this at a later date. Keep an eye out for part 2 & maybe part 3 to investing in your IRA.

As always, should you, or someone you know have questions about investing in real estate please do not hesitate to contact me at anytime.

 Yours in Success,

Susan Milner, e-PRO GRI Realtor

www.SusanMilner.com

(239) 218-2229

Are you considering a move to Southwest Florida? Maybe even just Florida in general? Maybe even just somewhere warmer in general?

Perhaps for a second home, perhaps you are moving to live here full time?

Here are some things to consider:

Let's start with some possible negatives:

The world moves slower here. What do I mean by that? Well if you are from the country in the midwest you may not notice it, but if you are from a larger city or the NE you will notice it for sure. Everything is done slower here. Deadlines are often overlooked by many. Stop by the grocery store & the cashier will most likely spend more time talking about the groceries you are buying vs. just checking you out quickly. Some call this good ole southern hospitality, some call it annoying. Honestly, the slowness drove me crazy at first. Now, I'm used to it. I'm still pretty quick but I can deal with the slowness better now. I'm very laid back but often times speak quickly, move quickly, make quick decisions, etc.

Think you can handle the slowness? Ok, allow me to continue....

Our Summers are HOT. Yes, there is no denying it. Our summers are muggy. It rains almost daily. Some say it takes some getting used to, others enjoy the afternoon showers. I happen to like afternoon showers. They cool things done some. While I don't enjoy the all day rain, the random showers are actually very relaxing. And I love watching the lightening too.

Ok, that's really the only downsides I can come up with at the moment....now let's take a look at some of the positives about our area in particular.

The weather. Yes, it's truly awesome to get a bicycle for Christmas & be able to take it out to ride it that same day without a jacket. Sure, some may miss the snow on Christmas, but that's what vacations are for, right? I personally don't want to drive on icy roads, shovel snow or get frostbite. We usually have a couple of cold days in January or February but they are not too bad & don't last long. When I say cold folks I'm talking about a low in the 40s and the highs in the 60s. And again, that only happens a few days out of the entire year. Usually its 70s in the winter. Currently, November, its mid 80s.

The water. Cape Coral has nearly 400 miles of CANALS. How fun. If you just like looking at the water or if you prefer to be in it, it's all here. The beach isn't far if you prefer the ocean. Yes, the gulf access canals do lead to the Gulf of Mexico! So buy a boat or some jetskis & go have some fun. Learn the water information & take a boaters safety course though. We have manatees & dolphins to look out for!

No Income Tax in Florida. While our property taxes may be a little on the high side, at least compared with previous years, one thing you don't have to pay is income tax. That's a savings! Also, our sales tax is only 6%.

Growth and Opportunity. This area is growing. Cape Coral has ranked in the top 5 cities for growth & jobs for many years now. And I'm pretty sure this will remain the case for many more years to come.

Affordable Housing. Yes, the market has been in a decline this year. Speculators helped drive up the prices the last couple of years & are backing out now, creating a decline in the market. Now is the time to negotiate bottom prices. Could prices still go lower? Maybe. I left my crystal ball at the circus, but I do know that now TODAY sellers are very negotiable so you can really find some great investment opportunities here.

Education. Florida has long been considered below the average for education. This is no longer the case, with the median age declining we've taken a more proactive look at education. Locally, our schools are rated based upon performance & you have school choice so you can choose a school in your zone based upon your preferences. You  no longer have to attend a specific school because of where you live.

I hope this information assists you in your decision making process. If you have any questions feel free to e-mail me at info@susanmilner.com or call me at (239) 218-2229.

Yours in Success,

Susan Milner, e-PRO GRI Realtor

www.SusanMilner.com