Why Do You Want to Start a Business Anyway?

You can’t just wake up one morning and decide to start a business. You need to think carefully about the type of business that will be right for you.

So maybe you’re tired of working in a corporate setting, you might decide, “I want to start my own business.” But it’s important for you to be much more specific. Figure out your “why”. Why do you want to start your own business? What benefit will it bring you? Is it more freedom that you want or do you want more money? Is it the pride of ownership you crave? The tax benefits, job security, financial independence or are you just trying to get away from a terrible boss?

Understanding the “why” behind your desires can help you crystallize what you’re really going after.

 

Without total commitment, and a big why to get you through the inevitable setbacks and disappointments your business will likely fail.

If you are an experienced business owner you already know this.

“There’s a difference between interest and commitment. When you’re interested in doing something, you do it only when it’s convenient. When you’re committed to something, you accept no excuses, only results.” Kenneth Blanchard

Everybody has a different “Big Why”, some want to create a legacy, achieve great things or have independance. Whatever your “big why” it must be big enough to get you through the inevitable disappointments,setbacks and roadblocks you will encounter on your journey to success and that is why a “big why” is a prerequisite to success.

If you are just getting started in business you may not be aware but your mindset and attitude determines how successful your business will be. There is no magic pill or overnight success formula. Success is not easy it requires hard work.

To be successful you must have a clear view of what’s next. Sometimes people turn away from what they don’t like but end up in a new place that’s no better.  

Once you’ve identified what’s driving you, it’s possible to begin clarifying the desired outcome. You may very well decide that instead of deciding to start a business, you might decide to revise your goal to be finding something you enjoy doing part time working from home a few days a week to generate additional income to improve the quality of live for your family.

Success, like failure, is not an accident but rather the result of your own design and efforts. Ultimately it is your choice. Do you have just an interest or do you have a big why and are you 100% committed to your success?

Everybody needs support. Everybody needs encouragement. Don’t try and be a lone ranger, to be successful you need people, a team, that will support and encourage you.

 

Is Your Retirement Plan Out of Control? Would you like to have more control?

Do you feel helpless to do anything about it? Why don’t you take back control of your retirement plan?

Intelligent educated investors realize that the IRS permits real estate to be held inside retirement accounts. Real Estate investing with a self-directed IRA are fully permissible under the Employee Retirement Income Security Act of 1974 (ERISA). IRS rules allow you to engage in almost any type of real estate investment, except from any investment involving a disqualified person.

So why is the money in your retirement plan ALL wrapped up in wall street? If you were told that is the only option, you were only told part of the truth, that is not your only option it may be their only option they can offer, you can go somewhere else, but I don’t suppose they want to suggest that to you. You should have been told, the custodian (Company your plan is with) doesn’t offer any other option, after all they obviously have a securities license, so what do they offer – only securities, go figure.

I would suggest to you if your financial adviser or whoever told you can’t invest in anything but wall street in your retirement plan, that unless you are married to them, you fire them. If you are married to them then do them a favor an enhance their knowledge by referring them to IRC section 408 of the Internal Revenue Service code.

The Employee Retirement Income Security Act (ERISA) of 1974 passed the responsibility of retirement saving from the employer to the employee. Resulting in 1975, the creation of IRAs which provide individuals a chance to direct where their retirement funds are invested.  Under both ERISA and IRS Codes, there are only two types of investments excluded: life insurance contracts and collectibles such as works of art, rugs, jewelry, etc. Refer to Internal Revenue Code Section 401 (IRC § 408(a) (3)).

A self-directed IRA is a retirement plan that allows you to choose where to invest your IRA money as permitted under IRA rules. Under your direction, your plan can invest in real estate such as commercial real estate, residential real estate, undeveloped land, foreclosures, rehabs, lease options, as well as limited partnerships, LLC’s, notes, commercial paper and many other holdings.

So how do you get started?

Contact a self-directed retirement plan administration company

Open an account

Fund the IRA account

Locate the real estate to invest in, and instruct the retirement plan administration company to purchase the real estate investment asset in the name of you self-directed IRA

The self-directed retirement plan administration company will collect investment income (rent) and pay investment expenses through your IRA account and perform necessary IRS reporting (Forms 5498 and 1099 ).

 

Is It Safe to Invest In Real Estate in 2015?

Throughout history people have counted on investing in real estate to secure their financial success. Really when you invest in real estate, you make your profit when you buy, not when you sell. In other words, you have to buy the property at a low enough price so that you are certain to make a profit when you sell.

 

Real estate investing in 2015 is different than it was before the real estate market crash. Prior to the crash many (novice) investors were focused primarily on speculation of appreciation (they weren’t really investing in real estate with a sound business plan, they were simply buying real estate with the hope that somebody else would pay more for them six to 12 months later).

 

Back then finding good positive cash flow properties was extremely difficult because rents were too low to justify the high property prices . Today’s real estate investors have shifted their strategy to a renewed emphasis on safety and looks for an opportunity, based on facts and evidence without emotion, if the numbers don’t support enough of their exit strategies, including a buy and hold strategy with positive cash flow, they have as part of the plan. They will walk away and from a real estate investment property that doesn’t meet their criteria.

So, how do you safely invest in real estate?  How can you be self-assured when there is still so much fear and uncertainty out there? It is actually much simpler than you might think.

Real estate investing historically has always been a good long term investment vehicle, if you have an interest in owning real estate for investment purposes, my advice is don’t get caught speculating in real estate without a proven team and a plan. You learn how to invest in real estate with a  plan, and without emotion.

Insure your financial success in real estate investing by becoming a professional real estate investor, with a plan and a team.

Strongbrook opens the door to wealth through real estate investing. Our experts handle your investing for you, while teaching you everything you’ll need to know about real estate. 

Turbo-charge your retirement with investment grade real estate. Spend the new next few minutes watching our clients speck in the following video.

We’ll offer you a 27-page Game Plan Report and a free strategy session with an investment expert to show you how you could retire through real estate in the next 5 to10 years.