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<body lang=3DEN-US link=3D"#003399" vlink=3Dpurple style=3D'tab-interval:.5=
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<div class=3DSection1>

<table class=3DMsoNormalTable border=3D0 cellspacing=3D0 cellpadding=3D0 wi=
dth=3D450
 style=3D'width:337.5pt;mso-cellspacing:0in;mso-padding-alt:0in 0in 0in 0in=
'>
 <tr style=3D'mso-yfti-irow:0;mso-yfti-firstrow:yes'>
  <td valign=3Dtop style=3D'padding:0in 0in 0in 0in'>
  <p class=3DMsoNormal style=3D'mso-margin-top-alt:auto;mso-margin-bottom-a=
lt:auto;
  line-height:14.4pt'><span style=3D'font-size:10.0pt;font-family:Verdana;
  mso-bidi-font-family:Arial;color:#333333'>Hi Friend,</span><span
  style=3D'font-size:10.0pt;font-family:Arial;color:#333333'><o:p></o:p></s=
pan></p>
  <p class=3DMsoNormal style=3D'mso-margin-top-alt:auto;mso-margin-bottom-a=
lt:auto;
  line-height:14.4pt'><span style=3D'font-size:10.0pt;font-family:Verdana;
  mso-bidi-font-family:Arial;color:#333333'>Seems like I can't open up a
  newspaper or read a financial magazine without seeing something about the
  real estate bubble. And, amazingly enough, the people making the most noi=
se
  about a real estate bubble (and <span class=3DGramE>it's</span> imminent
  collapse) are not investors &#8211; they are people looking for reasons a=
s to
  why it's okay for them to not own real estate.</span><span style=3D'font-=
size:
  10.0pt;font-family:Arial;color:#333333'><o:p></o:p></span></p>
  <p class=3DMsoNormal style=3D'mso-margin-top-alt:auto;mso-margin-bottom-a=
lt:auto;
  line-height:14.4pt'><span style=3D'font-size:10.0pt;font-family:Verdana;
  mso-bidi-font-family:Arial;color:#333333'>There is one way to ensure that
  you'll make money every single time with your real estate investment. Fir=
st
  of all, I want to give you a word of warning. The tip I'm about to give y=
ou
  will make sure you receive a return, but it won't replace sound fundament=
al
  investment analysis. And, the tip won't always work in every case. So, it=
's
  best to review your personal situation with a tax professional <span
  class=3DGramE>who</span> understands your situation and is well-versed in=
 tax
  strategies.</span><span style=3D'font-size:10.0pt;font-family:Arial;color=
:#333333'><o:p></o:p></span></p>
  <p class=3DMsoNormal style=3D'mso-margin-top-alt:auto;mso-margin-bottom-a=
lt:auto;
  line-height:14.4pt'><span style=3D'font-size:10.0pt;font-family:Verdana;
  mso-bidi-font-family:Arial;color:#333333'>Here's the tip, the one sure wa=
y to
  make sure you make money in real estate. ALWAYS factor in the tax savings=
! In
  just a second, I'm going to review the five ways you make money in real
  estate and go through which are at risk if a bubble bursts and even more
  importantly, highlight the cash you get no matter what happens.</span><sp=
an
  style=3D'font-size:10.0pt;font-family:Arial;color:#333333'><o:p></o:p></s=
pan></p>
  <p class=3DMsoNormal style=3D'mso-margin-top-alt:auto;mso-margin-bottom-a=
lt:auto;
  line-height:14.4pt'><span style=3D'font-size:10.0pt;font-family:Verdana;
  mso-bidi-font-family:Arial;color:#333333'>First though, I want to give yo=
u a
  heads up. Later in this email, I'll tell you about an amazing offer that =
will
  save you over $1000. The offer is only good for the first 25 people who
  respond. If you can't wait to find out, go to </span><b><span
  style=3D'font-size:10.0pt;font-family:Verdana;mso-bidi-font-family:Arial;
  color:blue'><a href=3D"http://www.taxloopholes.com/buy/HSP05" target=3D"_=
blank"><span
  style=3D'mso-bidi-font-size:12.0pt;color:#0033CC'>Real Estate Home Study =
Course</span></a>
  </span></b><span style=3D'font-size:10.0pt;font-family:Verdana;mso-bidi-f=
ont-family:
  Arial;color:#333333'>to find out how you can save money right away. Please
  come back, though, This is information you need if you're investing in re=
al
  estate today.</span><span style=3D'font-size:10.0pt;font-family:Arial;
  color:#333333'><o:p></o:p></span></p>
  <p class=3DMsoNormal style=3D'mso-margin-top-alt:auto;mso-margin-bottom-a=
lt:auto;
  line-height:14.4pt'><b><span style=3D'font-size:10.0pt;font-family:Verdan=
a;
  mso-bidi-font-family:Arial;color:#333333'>There are five main ways to make
  money in real estate:</span></b><span style=3D'font-size:10.0pt;font-fami=
ly:
  Arial;color:#333333'><o:p></o:p></span></p>
  <p class=3DMsoNormal style=3D'mso-margin-top-alt:auto;mso-margin-bottom-a=
lt:auto;
  line-height:14.4pt'><b><span style=3D'font-size:10.0pt;font-family:Verdan=
a;
  mso-bidi-font-family:Arial;color:#333333'>(1) Active appreciation.<br>
  </span></b><span style=3D'font-size:10.0pt;font-family:Verdana;mso-bidi-f=
ont-family:
  Arial;color:#333333'>Active appreciation is the type of appreciation you
  receive when the property goes up in value due to your efforts. You've do=
ne a
  great job of negotiation to buy a property lower than market or you've so=
lved
  a problem for the seller that no one else could solve (resulting in a low=
er
  price) or you've fixed up or renovated the property to make it worth much
  more.</span><span style=3D'font-size:10.0pt;font-family:Arial;color:#3333=
33'><o:p></o:p></span></p>
  <p class=3DMsoNormal style=3D'mso-margin-top-alt:auto;mso-margin-bottom-a=
lt:auto;
  line-height:14.4pt'><span style=3D'font-size:10.0pt;font-family:Verdana;
  mso-bidi-font-family:Arial;color:#333333'>Now, here's the question. How a=
nd
  when do you get the cash? There are two ways to get the money: sell or
  borrow. With today's low rates, borrowing money often makes the most sens=
e.
  The cash you receive will not be subject to tax and you've got more money=
 to
  invest. If you sell, should you do a like kind exchange (roll the basis i=
nto
  another property so you can pay tax later) or should you just bite the bu=
llet
  and pay the tax?</span><span style=3D'font-size:10.0pt;font-family:Arial;
  color:#333333'><o:p></o:p></span></p>
  <p class=3DMsoNormal style=3D'mso-margin-top-alt:auto;mso-margin-bottom-a=
lt:auto;
  line-height:14.4pt'><span style=3D'font-size:10.0pt;font-family:Verdana;
  mso-bidi-font-family:Arial;color:#333333'>RULE OF THUMB: If you take out a
  loan on appreciated property to invest in other property, you need a retu=
rn
  on the investment that is higher than the cost of the money<span class=3D=
GramE>,.</span>
  In other words, if your loan cost you 7%, you want to make sure you have a
  higher than 7% return on the new investment.</span><span style=3D'font-si=
ze:
  10.0pt;font-family:Arial;color:#333333'><o:p></o:p></span></p>
  <p class=3DMsoNormal style=3D'mso-margin-top-alt:auto;mso-margin-bottom-a=
lt:auto;
  line-height:14.4pt'><b><span style=3D'font-size:10.0pt;font-family:Verdan=
a;
  mso-bidi-font-family:Arial;color:#333333'>(2) Passive appreciation.<br>
  </span></b><span style=3D'font-size:10.0pt;font-family:Verdana;mso-bidi-f=
ont-family:
  Arial;color:#333333'>Buy in the right areas. Of course, that would be a l=
ot
  easier with a crystal ball because you're betting on future appreciation.
  There are some things you can do to stack the odds a bit in your favor
  &#8211; watch where there has been good appreciation in the past, but not
  runaway increases, and look for neighborhoods in appreciating cities that
  show signs of improvements. But, to be perfectly honest, passive apprecia=
tion
  is the one most at risk from a real estate bubble. </span><span
  style=3D'font-size:10.0pt;font-family:Arial;color:#333333'><o:p></o:p></s=
pan></p>
  <p class=3DMsoNormal style=3D'mso-margin-top-alt:auto;mso-margin-bottom-a=
lt:auto;
  line-height:14.4pt'><span style=3D'font-size:10.0pt;font-family:Verdana;
  mso-bidi-font-family:Arial;color:#333333'>But, let's say that you hit it
  lucky and the property goes up in value without you having to do a thing.=
 Now
  you face the same question as with active appreciation: how do you get to=
 the
  cash in the best tax-advantaged method?</span><span style=3D'font-size:10=
.0pt;
  font-family:Arial;color:#333333'><o:p></o:p></span></p>
  <p class=3DMsoNormal style=3D'mso-margin-top-alt:auto;mso-margin-bottom-a=
lt:auto;
  line-height:14.4pt'><b><span style=3D'font-size:10.0pt;font-family:Verdan=
a;
  mso-bidi-font-family:Arial;color:#333333'>(3) Equity <span class=3DGramE>=
build</span>
  up.<br>
  </span></b><span style=3D'font-size:10.0pt;font-family:Verdana;mso-bidi-f=
ont-family:
  Arial;color:#333333'>This third method of increasing your equity comes ab=
out
  when you faithfully make payments over time on a principal and interest l=
oan.
  If you have an interest-only loan, you won't have equity build-up.</span>=
<span
  style=3D'font-size:10.0pt;font-family:Arial;color:#333333'><o:p></o:p></s=
pan></p>
  <p class=3DMsoNormal style=3D'mso-margin-top-alt:auto;mso-margin-bottom-a=
lt:auto;
  line-height:14.4pt'><span style=3D'font-size:10.0pt;font-family:Verdana;
  mso-bidi-font-family:Arial;color:#333333'>And, again the question that ma=
kes
  all the difference, how will you get to the equity?</span><span
  style=3D'font-size:10.0pt;font-family:Arial;color:#333333'><o:p></o:p></s=
pan></p>
  <p class=3DMsoNormal style=3D'mso-margin-top-alt:auto;mso-margin-bottom-a=
lt:auto;
  line-height:14.4pt'><b><span style=3D'font-size:10.0pt;font-family:Verdan=
a;
  mso-bidi-font-family:Arial;color:#333333'>(4) Tax Savings.<br>
  </span></b><span style=3D'font-size:10.0pt;font-family:Verdana;mso-bidi-f=
ont-family:
  Arial;color:#333333'>Now we're getting to the one sure-fire way to make
  money. You might have an interest free loan and that means no equity
  build-up. Or, there might be a bubble that bursts and you lose out on pas=
sive
  appreciation. And, face it, you might simply buy wrong or spend too much
  fixing up a property. You can make all those mistakes and still make money
  due to the tax savings. It's one certain way you have of making money.</s=
pan><span
  style=3D'font-size:10.0pt;font-family:Arial;color:#333333'><o:p></o:p></s=
pan></p>
  <p class=3DMsoNormal style=3D'mso-margin-top-alt:auto;mso-margin-bottom-a=
lt:auto;
  line-height:14.4pt'><span style=3D'font-size:10.0pt;font-family:Verdana;
  mso-bidi-font-family:Arial;color:#333333'>How is that possible? LOOPHOLES!
  Real estate has the best tax loopholes available. In fact, if you buy in =
the
  right way or bring in investors into the right deal, you might make capit=
al
  gains on a sale and never pay taxes. That's part of the tax-free strategi=
es
  you'll learn as part of the Real Estate Home Study Course in the tax
  loopholes portion.</span><span style=3D'font-size:10.0pt;font-family:Aria=
l;
  color:#333333'><o:p></o:p></span></p>
  <p class=3DMsoNormal style=3D'mso-margin-top-alt:auto;mso-margin-bottom-a=
lt:auto;
  line-height:14.4pt'><span style=3D'font-size:10.0pt;font-family:Verdana;
  mso-bidi-font-family:Arial;color:#333333'>If you've been receiving the
  Loopholes Update for awhile, I'm sure you've heard me talk about the bene=
fit
  of maximizing depreciation through cost segregation. In other words, you =
can
  break out the value of personal property items in a structure and depreci=
ate
  them over a shorter period of time. The IRS has just come out with a warn=
ing
  that some cost segregation studies may not pass muster. Make sure you talk
  directly to a qualified tax advisor about your own situation. This is
  something you definitely do not want to do by yourself.</span><span
  style=3D'font-size:10.0pt;font-family:Arial;color:#333333'><o:p></o:p></s=
pan></p>
  <p class=3DMsoNormal style=3D'mso-margin-top-alt:auto;mso-margin-bottom-a=
lt:auto;
  line-height:14.4pt'><span style=3D'font-size:10.0pt;font-family:Verdana;
  mso-bidi-font-family:Arial;color:#333333'>There are over 100 ideas for sa=
ving
  taxes, instructions for selecting and running the best business structure=
 and
  accounting instructions in the </span><b><span style=3D'font-size:10.0pt;
  font-family:Verdana;mso-bidi-font-family:Arial;color:blue'><a
  href=3D"http://www.taxloopholes.com/buy/HSP05" target=3D"_blank"><span
  style=3D'mso-bidi-font-size:12.0pt;color:#0033CC'>Real Estate Investor's =
Tax
  and Asset Protection Home Study Course</span></a></span></b><span
  style=3D'font-size:10.0pt;font-family:Verdana;mso-bidi-font-family:Arial;
  color:#333333'> for just $499. That's a savings of $300. Plus, we'll thro=
w in
  the special online audio home study course. You'll receive 12 audio lesso=
ns
  you can listen to again and again. Plus, you'll be able to log in as a
  student to the DKA Mentored Tax and Accounting Real Estate Investor's Home
  Study Course. You'll learn from over 100 special tax strategies just for =
real
  estate investors. This full packaged course is normally priced at $1500, =
so
  there is a total saving possible of over $1,000!</span><span
  style=3D'font-size:10.0pt;font-family:Arial;color:#333333'><o:p></o:p></s=
pan></p>
  <p class=3DMsoNormal style=3D'mso-margin-top-alt:auto;mso-margin-bottom-a=
lt:auto;
  line-height:14.4pt'><span style=3D'font-size:10.0pt;font-family:Verdana;
  mso-bidi-font-family:Arial;color:#333333'>Please remember, this offer is =
good
  ONLY for the first 25. When we make limited offers like this, sometimes we
  can't get the product off the website fast enough and so we're apologizin=
g in
  advance if we have to tell you that you missed out. The best thing you ca=
n do
  is order right now to receive the entire course, regularly valued at $1500
  for just $499. </span><span style=3D'font-size:10.0pt;font-family:Arial;
  color:#333333'><o:p></o:p></span></p>
  <p class=3DMsoNormal style=3D'mso-margin-top-alt:auto;mso-margin-bottom-a=
lt:auto;
  line-height:14.4pt'><b><span style=3D'font-size:10.0pt;font-family:Verdan=
a;
  mso-bidi-font-family:Arial;color:#333333'>(5) Cash Flow</span></b><span
  style=3D'font-size:10.0pt;font-family:Verdana;mso-bidi-font-family:Arial;
  color:#333333'><br>
  Of course, who could forget cash flow! As they say, when it comes to real
  estate, cash is king, queen, and every other card in the deck. I still say
  that the very best tax.</span><span style=3D'font-size:10.0pt;font-family=
:Arial;
  color:#333333'><o:p></o:p></span></p>
  <p class=3DMsoNormal style=3D'mso-margin-top-alt:auto;mso-margin-bottom-a=
lt:auto;
  line-height:14.4pt'><span style=3D'font-size:10.0pt;font-family:Verdana;
  mso-bidi-font-family:Arial;color:#333333'>To figure out the cash flow, yo=
u've
  got to know the numbers. That's why we've included easy steps and sample =
in
  Easy Accounting for Real Estate Investors as part of the </span><b><span
  style=3D'font-size:10.0pt;font-family:Verdana;mso-bidi-font-family:Arial;
  color:blue'><a href=3D"http://www.taxloopholes.com/buy/HSP05" target=3D"_=
blank"><span
  style=3D'mso-bidi-font-size:12.0pt;color:#0033CC'>TaxLoopholes Real Estat=
e Home
  Study Course</span></a></span></b><span style=3D'font-size:10.0pt;font-fa=
mily:
  Verdana;mso-bidi-font-family:Arial;color:#333333'>. Plus, exclusive with =
our
  special offer, you'll receive online audio and written lessons to help you
  get set up and run your business so you get the critical information you
  need.</span><span style=3D'font-size:10.0pt;font-family:Arial;color:#3333=
33'><o:p></o:p></span></p>
  <p class=3DMsoNormal style=3D'mso-margin-top-alt:auto;mso-margin-bottom-a=
lt:auto;
  line-height:14.4pt'><span style=3D'font-size:10.0pt;font-family:Verdana;
  mso-bidi-font-family:Arial;color:#333333'>Sure, the real estate market is=
 hot
  right now. It probably is over-heated and without a doubt there will be, =
at
  the very least, regional bubbles that will burst. Now is the time to be
  smarter than ever with your investments. Make sure you pay the least amou=
nt
  of tax legally possible.</span><span style=3D'font-size:10.0pt;font-famil=
y:
  Arial;color:#333333'><o:p></o:p></span></p>
  <p class=3DMsoNormal style=3D'mso-margin-top-alt:auto;mso-margin-bottom-a=
lt:auto;
  line-height:14.4pt'><span style=3D'font-size:10.0pt;font-family:Verdana;
  mso-bidi-font-family:Arial;color:#333333'>Warmly,</span><span
  style=3D'font-size:10.0pt;font-family:Arial;color:#333333'><o:p></o:p></s=
pan></p>
  <p class=3DMsoNormal style=3D'mso-margin-top-alt:auto;mso-margin-bottom-a=
lt:auto;
  line-height:14.4pt'><span style=3D'font-size:10.0pt;font-family:Verdana;
  mso-bidi-font-family:Arial;color:#333333'>Diane Kenned</span><span
  style=3D'font-size:10.0pt;font-family:Arial;color:#333333'><o:p></o:p></s=
pan></p>
  <p class=3DMsoNormal style=3D'mso-margin-top-alt:auto;mso-margin-bottom-a=
lt:auto;
  line-height:14.4pt'><span style=3D'font-size:10.0pt;font-family:Verdana;
  mso-bidi-font-family:Arial;color:#333333'>P.S. Remember the sales price of
  the </span><b><span style=3D'font-size:10.0pt;font-family:Verdana;mso-bid=
i-font-family:
  Arial;color:blue'><a href=3D"http://www.taxloopholes.com/buy/HSP05"
  target=3D"_blank"><span style=3D'mso-bidi-font-size:12.0pt;color:#0033CC'=
>Real
  Estate Home Study Course</span></a></span></b><span style=3D'font-size:10=
.0pt;
  font-family:Verdana;mso-bidi-font-family:Arial;color:#333333'> is only go=
od
  for the first 25 people.</span><span style=3D'font-size:10.0pt;font-famil=
y:
  Arial;color:#333333'><o:p></o:p></span></p>
  </td>
 </tr>
 <tr style=3D'mso-yfti-irow:1'>
  <td valign=3Dtop style=3D'padding:0in 0in 0in 0in'>
  <p class=3DMsoNormal style=3D'mso-margin-top-alt:auto;mso-margin-bottom-a=
lt:auto;
  line-height:14.4pt'><span style=3D'color:#333333'><o:p>&nbsp;</o:p></span=
></p>
  </td>
 </tr>
 <tr style=3D'mso-yfti-irow:2'>
  <td style=3D'padding:0in 0in 0in 0in'>
  <div class=3DMsoNormal align=3Dcenter style=3D'text-align:center;line-hei=
ght:14.4pt'><span
  style=3D'color:#333333'>
  <hr size=3D1 width=3D"100%" noshade color=3Dblack align=3Dcenter>
  </span></div>
  <p class=3DMsoNormal style=3D'mso-margin-top-alt:auto;mso-margin-bottom-a=
lt:auto;
  line-height:14.4pt'><span style=3D'color:#333333'><o:p>&nbsp;</o:p></span=
></p>
  </td>
 </tr>
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  <td style=3D'padding:0in 0in 0in 0in'>
  <p class=3DMsoNormal style=3D'mso-margin-top-alt:auto;mso-margin-bottom-a=
lt:auto;
  line-height:14.4pt'><span style=3D'font-size:10.0pt;font-family:Verdana;
  color:#333333'>You have received this notice because you may have recently
  become a member of one of our websites or simply signed up to receive Dia=
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  Kennedy's Loopholes Update. If you no longer wish to receive our
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sit
  this page: <a href=3D"http://www.TaxLoopholes.com/us" target=3D"_blank"><=
span
  style=3D'mso-bidi-font-size:12.0pt;color:#0033CC'>http://www.TaxLoopholes=
.com/us</span></a></span><span
  style=3D'color:#333333'><o:p></o:p></span></p>
  </td>
 </tr>
 <tr style=3D'mso-yfti-irow:4;mso-yfti-lastrow:yes'>
  <td style=3D'padding:0in 0in 0in 0in'>
  <p class=3DMsoNormal align=3Dcenter style=3D'mso-margin-top-alt:auto;mso-=
margin-bottom-alt:
  auto;text-align:center;line-height:14.4pt'><span style=3D'font-size:7.5pt;
  font-family:Verdana;mso-bidi-font-family:Arial;color:#333333'>TaxLoophole=
s * <st1:Street
  w:st=3D"on"><st1:address w:st=3D"on">821 N. 5th Ave.</st1:address></st1:S=
treet> *
  <st1:place w:st=3D"on"><st1:City w:st=3D"on">Phoenix</st1:City>, <st1:Sta=
te
   w:st=3D"on">AZ</st1:State> <st1:PostalCode w:st=3D"on">85003</st1:Postal=
Code></st1:place>
  * (602) 258-0700</span><span style=3D'font-size:10.0pt;font-family:Arial;
  color:#333333'><o:p></o:p></span></p>
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