Posted by Joe on April 16, 2002 at 18:34:59:
The IRAs are personal assets, not income. The limit of $150,000 applies only to income.
Therefore, if an IRA holds a million dollars in assets, but the investor only receives $149,999 in wages, salary and other income, there’s no affect. It’s allowed.
Does anyone make any money do this stuff? - Posted by Melvin
Posted by Melvin on April 15, 2002 at 10:16:16:
All I’ve been reading is how people place ads, bandit signs, biz cards, mag signs on cars and do mailings. And, know one makes any money.
Does anyone make any money with this stuff?? - Posted by Dave T
Posted by Dave T on April 15, 2002 at 22:14:49:
I assume that you are referring to the posts that say heavy marketing is not producing results. These posters usually ask what they are doing wrong, and, usually get a ton of responses from others on this board who are very successfully employing the very same marketing techniques.
When those posters overcome their marketing faults and begin seeing success, they no longer say that their marketing is not working, but instead, relate their success story.
Re: Does anyone make any money do this stuff? - Posted by Ronald * Starr(in No CA)
Posted by Ronald * Starr(in No CA) on April 15, 2002 at 21:56:25:
Melvin----------
Do you feel like your legs are longer than they were when you got up this morning? Of course you do, since so many people were pulling your legs here.
If you will do searches on the archive, you will hear lots of stories about money being made. There is even a separate section calle “Success Stories” on this CREONLINE.COM website, where you can hear stories of people making money with real estate.
And of course, GL is telling you how he does it. He didn’t pull your leg.
Good InvestingRon Starr
Re: Does anyone make any money do this stuff? - Posted by GL(ON)
Posted by GL(ON) on April 15, 2002 at 17:06:23:
I make a living out of my real estate investments and have for years.
I don’t " place ads, bandit signs, biz cards,
mag signs on cars and do mailings." I also don’t sell books or courses or charge for mentoring.
What I do is very boring. It is so stupid, boring and out of fashion that every time I try to describe it people either laugh at me or call me an idiot. I don’t mind. It still works just fine.
Re: Does anyone make any money do this stuff? - Posted by Dan-FL
Posted by Dan-FL on April 15, 2002 at 16:22:17:
Not one red cent,I just do it to fill up my day.
No, that big check on its way to the IRS… - Posted by Ben (NJ)
Posted by Ben (NJ) on April 15, 2002 at 15:27:29:
as we speak is just a figment of my imagination (I wish).
No, we’re all shills for Carleton Sheets. NTXT - Posted by Brent_IL
Posted by Brent_IL on April 15, 2002 at 15:11:19:
nt
NO… - Posted by Lazaro
Posted by Lazaro on April 15, 2002 at 12:18:18:
We just do it for fun. Kind of like a hobby and a charity. Does it make any sense spend money advertising and get nothing in return? I don’t thinks so. I think that sums it up.
Cordially,
Lazaro
Re: Does anyone make any money do this stuff? - Posted by Tim
Posted by Tim on April 15, 2002 at 17:11:55:
What are you doing GL(ON)? I would like to be bored and make money too!
Oh You Mean That Big Check… - Posted by phil fernandez
Posted by phil fernandez on April 15, 2002 at 19:13:34:
…yup had to send one of those myself today. Make money with real estate investing. Naugh, can’t be done anymore.
Re: No, that big check on its way to the IRS… - Posted by JohnBoy
Posted by JohnBoy on April 15, 2002 at 16:00:50:
Sheesh!
If you needed more tax deductions then you should of inquired about the non-profit JohnBoy foundation! We could have saved you some tax dollars by shifting that money to a much more worthy cause! LOL
And to think that… - Posted by Jesse_CO
Posted by Jesse_CO on April 15, 2002 at 12:58:12:
all this time that’s what you were doing! LOL
Kudos for your latest deals, Laz!
Sincerely,
Jesse_CO
Re: Does anyone make any money do this stuff? - Posted by GL(ON)
Posted by GL(ON) on April 15, 2002 at 17:20:08:
I live in a boring small town in Canada, where there hasn’t been a real estate boom in over 10 years.
I buy old houses and apartments cheap, fix them up and sell them or rent them out. The houses I sell right away, because they don’t cash flow. The apartments I keep, if they have good cash flow. If they don’t have good cash flow I don’t buy them.
There are no dot com millionaire’s mansions and there are no slums or war zones.
There hasn’t been a house for sale for back taxes in at least 20 years.
People keep their properties a long time, and keep them in good shape as a rule. But every now and again a good deal in a run down property shows up.
There are also no “I buy houses” ads in the local paper. If a junker turns up it is often for sale cheap for weeks or months before someone buys it.
OK Roth - good topic - here’s a question - Posted by Redline
Posted by Redline on April 15, 2002 at 21:58:52:
Isn’t the income limit for a Roth $150k?
How are Legrand (he mentioned he does deals in his Roth) and other ‘big time’ investors having Roth IRA’s?? You guys aren’t making more than $150k/year? 
RL
Just enough to live on - Posted by Bud Branstetter
Posted by Bud Branstetter on April 15, 2002 at 21:51:05:
And that amout is not a lot. Of course the regular IRA did make a few dollars this year. Uncle Sam is kind enough to give interest free loans for as long as I want. And Mr. Roth was kind enough to provide a vehicle for tax free income in 5 years or sooner.
Re: Does anyone make any money do this stuff? - Posted by Paul Stewart
Posted by Paul Stewart on April 15, 2002 at 20:01:51:
Classic RE success story!
Re: OK Roth - good topic - here’s a question - Posted by Houserookie
Posted by Houserookie on April 15, 2002 at 23:10:26:
I believe $150K refers to personal income…ROTH IRAs
and other self-directed IRAs are for personal asset accumulation. Some of the “big time” investors hold properties in using various business entities that don’t effect personal income thus maximizing future income without considered as "income " today.
Austin
Ummmmm could you please translate that - Posted by CherrioLady
Posted by CherrioLady on April 16, 2002 at 10:50:30:
into dummie language please?
Cheryl