Tonja Demoff - Tonja Demoff will help you achieve greater wealth through real estate.

Check out this collection of photographs showing some of the special moments and highlights for me and my friends. Enjoy!

http://tonjademoff.com/scrapbook/

Losing everything can be the beginning of everything. I share my story of how I lost everything and how I now own over ten different businesses. An interview you don’t want to miss!

Listen to this interview NOW!

The Mortgage Forgiveness Debt Relief Act of 2007 (H.R. 3648) was officially signed into law yesterday, December 20th, 2007, by President Bush. The main objective of this bill was to amend the Internal Revenue Code of 1986 to exclude discharges of indebtedness on principal residences from gross income.

If your lender forgives a portion of the debt owed on your principal residence, like what happens in a shot sale, the amount forgiven will not be considered income, whereas before you would have had to pay income tax on any amount forgiven by the lender. The Mortgage Forgiveness Debt Relief Act of 2007 will also reduce the income tax breaks on most gains from the sales of non-primary residences using a formula based on the amount of time that the taxpayer actually lived in the property during the five-year period before the sale.

This month, Tonja was featured in the December edition of the Science of Mind magazine. Barbara Stahura interviewed Tonja for an article titled “Wealth by Intention: Interview with Tonja Demoff.” You might be able to pick up a copy directly from the Science of Mind website.

Money on the Move USA was a success!!!

Congratulations to our students! They learned a lot, put deals together, made money and helped families along the way.

Find out what they did and where they went….click below and enjoy. Feel free to click on the arrows on the right, top corner to view the show at your own pace.

View The Scrap Book

We encourage you to post a comment or send a message to any of our students!

And stay-tuned for our next Money on the Move training!

Here is an article I found that I want to share with everyone. Susan Lassiter-Lyons, the author, points out 10 very common mistakes beginning Investors make.

From Susan’s article:

As a mortgage broker that works exclusively with real estate investment, I have encountered just about every crazy and botched financing scenario that you can imagine. Over the course of the years, I have kept a list of the crazy things that investors do (it’s quite long) and today I’ll share the top 10 with you. Don’t make these mistakes!

1. Quitting the Day Job Too Soon

Repeat after me: “Equity does not pay the bills.” I see it happen all the time. An investor gets a few rentals and decides to quit the day job to pursue investing full time. Big mistake. Don’t quit the job until you have 12 months of living expenses saved up and/or monthly cash flow equal to what you were making at your day job.

2. Being Broke and Greedy

My mentor used to say, “You can’t be broke AND greedy.” In RE investor world it means that if you have no money to put into a deal you better be prepared to pay high rates or give up some equity to a partner.

3. Underestimating Holding Costs

If you’re a flipper, in most areas today, your properties are taking a lot longer to move. Factor in ALL of your holding costs to the budget - loan payments, utilities, etc - so you don’t lose all your profit.

4. Not Properly Setting Up Your Entity

If you list your occupation as real estate investor on a mortgage loan application, you are in for a tough road ahead with the underwriter. You may as well say you are a drug dealer. Same goes for naming your LLC. Try not to reference anything having to do with flipping or foreclosure help or anything like that. Stick to an easy name to deal with like Acme, LLC.

5. Paying Cash for a Property

Paying cash for a property is fine as long as you don’t need the money back anytime soon. If you do, then you’re trying to get an unseasoned cash out refinance and if you’re lucky enough to find a lender to do the loan, you will pay through the nose for it.

You can continue reading Susan’s article here.

Below you will find all the answers to the most frequently asked questions about pre-construction. These answers come from the coast condo mall website.
Read the rest of this entry »

In my new book, Bubble Proof, I share with readers all of the tools needed to launch a successful career in real estate investing. Over the course of my career, I have found that there are four basic types of real estate investors. The key to unlocking your success in the field is understanding what type of investor you are so that you can act accordingly.

It is important to note that you are not stuck as one of these four types just because of your personality. Instead of four different types, you can view these as four levels of real estate investment through which people can pass, from one to four, as they develop as real estate investors. Not everyone passes through these four levels, but if you develop as a real estate investor, these are the levels through which you are likely to pass.

The four types are as follows: Read the rest of this entry »

Several years ago, economists began using the term “bubble” to describe the incredible yearly increases in the price of an average home in many U.S. markets. Inevitably, when those increases tapered off and home prices glided back to more normal levels, they said the bubble had “burst.”

I firmly believe that the housing market (as well as commercial real estate) will continue to expand and that young, first-time home buyers have the most to gain from it. I see nothing on the horizon to change my outlook either-not today or 10 years from today. As long as the United States experiences steady population growth, there will be constant demand for homes. Growth guarantees an ongoing appreciation of residential property values for years to come. Read the rest of this entry »

I did an interview the other day with Dr Proactive on the Inside Success Radio Show. In the interview, we talked about real estate strategies that work in any market. Much of what we talked about was focused around what I reveal in my book Bubble Proof. If you haven’t yet picked up a copy, I encourage you to do so.

Some of the valuable topics we covered in the interview include:

• The Secret to Real Estate Wealth: It’s Fast, Simple, and Easy
• How to Create Financial Independence and Realize Your Wealth Power
• 3 Quick Ways to Bubble Proof Your Financial Destiny

You can listen to the first part of the segment by using the web player below, or you can download it to your iPod. Dr Proactive also posted part of the segment on YouTube. You can also listen to that below. To listen to the entire interview, I think you have to purchase the interview or become a Gold Member over at InsideSuccessRadio.com. You can find out how to purchase the interview here.

The First Segment

Download the MP3 [ 14 Minutes - 2.5 MB]

Another Segment