“Ignorance is Bliss Until it Lands You in Jail” by Debbie Waters

…Well, maybe not jail, but you could receive a hefty fine, for sure. By now, you’ve heard all about the Dodd-Frank Act and how it directly affects real estate investors conducting seller financing deals. You should know the changes became effective January 10^th. Hopefully, you did your due diligence and either attended the Seller Financing event or the online webinar where results of the research were clearly explained and where Ron conducted a live Q & A session to ensure everyone attending had a clear understanding going forward.

Ron spent months, countless hours and thousands of dollars consulting attorneys to decipher the law to determine exactly what it means for his students. His tenacious nature and refusal to accept anything but the nitty-gritty, honest-to-goodness, bottom-line truth on what this Act spelled out for his students caused him many nights of lost sleep, and a few extra gray hairs.

Having worked closely with Ron the past couple of years, one thing I’ve come to know about him is he’s an absolute stickler for following the law, and his code of ethics is unparalleled. With that said and with the implementation of Obamacare, staff here at Global have oftentimes over the past year had to burn the midnight oil and spend hours of research defining how the law and its sub-parts affect not only our students, but how we conduct our business, and that includes, but certainly has not been limited to, how our health insurance has been affected.

You might remember, I did an article some time ago about the 3.8% Medicare Tax, supposedly imposed to fund the Medicare Trust Fund that’s part of our Social Security System. The tax, however, is charged on the capital gains of some home sales and also applies to investment income. Now, there are specific criteria to meet the requirements of qualifying for the tax, but nonetheless, required our investigation, so we could properly inform our students.

Which brings me to the point of this article… we’re committed to not only ensuring your success by bringing you the latest and most effective techniques in real estate investing, but we’re also committed to ensuring your compliance with the laws and your understanding of how they directly affect the way in which you conduct business. We feel it falls on us to properly and wholly provide you with all the necessary tools needed to effectively maximize your investing business to its greatest potential, but ultimately, the responsibility of educating yourself according to the law falls on you.

Therefore, if you’re not fully apprised of the Dodd-Frank Act and how it may adversely affect you if you’re not in compliance, I would implore you to go to https://www.ronlegrand.com/products/general/dodd-frank-webinar-recording?sl=1&cid=GCW140117 and order the downloadable version of the entire Webinar including the Q&A session now. You’ll also have the opportunity to order a DVD version as well.