By Rick Newman, Managing Partner of Commercial Capital Network, LLC
Few business owners realize that they have the ability to use retirement assets to pay for improvements to their property. Most people believe that there are only two options available to them if they want or need to access capital from their 401(k) or IRA. Borrowing from a retirement account, while still employed with the employer who established your 401(k), may solve a short term objective but it will require a return of the principal with interest. Early withdrawals on the other hand, are subject to pre-distribution taxes and penalties. The Employee Retirement Income Security Act (ERISA), which created the IRA in 1974, places surprisingly few restrictions on how retirement money can be invested. Except for life insurance or collectibles — such as artwork or coins — retirement funds can be placed in just about anything. Tens of thousands of investors have switched their retirement savings to self-directed accounts since the stock market correction of 2000 and 2001. By some estimates, 3% of the $3.5 trillion held in IRAs is now in alternative investments — and the number is growing.
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Aspiring Innkeeper’s… 2010 Financing Update!
By Rick Newman, Managing Partner of Commercial Capital Network, LLC
2010 will be a challenging time in the financial markets as bank and non bank lenders alike are forced to re-evaluate lending parameters to adjust to the pressures of the time. The number of lenders has diminished in the last twelve months and the loan committees of the remaining institutions enjoy the luxury of an increase loan applications and the enviable position of lending to the most qualified buyers and the most desirable properties from a cash flow perspective.
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Innkeeper’s… 2010 Refinancing Update!
By Rick Newman, Managing Partner, Commercial Capital Network
Property Owners wishing to reorganize debt to make capital improvements or refinance a loan that is ballooning or adjusting would be well advised to begin the application process in the early part of 2010.
Rates are low but may not be for much longer… Interest rates seem to have hit bottom, but how long they will stay at this level is anyone’s guess. Many experts express concern over the future of our economy and the impact market conditions will have on long-term interest rates.
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401k/IRA Information hotline Call 609-759-1050 or complete the following contact information
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All Bed & Breakfasts/Inns are unique by design; in fact, it is that unique quality that separates one Bed & Breakfast/Inn (B & B/Inn) from the next. Innkeepers invest their energy and capital over time to create a welcoming and hospitable environment that is unique to their community and valued guests. While the charm and ambiance of an inn add to a patron’s experience, such intangibles have only an indirect effect on the actual value.
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Few business owners realize that they have the ability to use retirement assets to pay for improvements to their property. Most people believe that there are only two options available to them if they want or need to access capital from their 401(k) or IRA. Borrowing from a retirement account, while still employed with the employer who established your 401(k), may solve a short term objective but it will require a return of the principal with interest. Early withdrawals on the other hand, are subject to pre-distribution taxes and penalties. The Employee Retirement Income Security Act (ERISA), which created the IRA in 1974, places surprisingly few restrictions on how retirement money can be invested. Except for life insurance or collectibles — such as artwork or coins — retirement funds can be placed in just about anything. Tens of thousands of investors have switched their retirement savings to self-directed accounts since the stock market correction of 2000 and 2001. By some estimates, 3% of the $3.5 trillion held in IRAs is now in alternative investments — and the number is growing.