Investing in income property can be a great way to increase your capital. But for many people, investing in real estate, especially commercial and industrial real estate is just out of reach from the financial point of view. But what if you could join forces with other small investors and large investments in commercial real estate in the group? With Real Estate Investment Trust you can do it!
REIT means Real Estate Investment Trust, and is sometimes referred to as "real estate holdings." Real estate investment trust is a company that owns and manages a portfolio of real estate and mortgages. Anyone can buy shares of the REIT. Real estate investment trust offers the benefits of real estate without the headaches or expense of the landlord. Said another way the investor has the benefits of real estate ownership with no management role in the toilets and tenants.
Real Estate Investment Trust of certain types offers great benefits of liquidity and diversity. In contrast to the actual ownership of real estate, these measures can be quickly and easily sold. And because you invest in a portfolio of real estate, rather than one building, it comes with less financial risk.
Real Estate Investment Trust was created in the sixties when Congress decided that small investors should also be able to invest in large-scale, income-generating properties. It was found to be the best way to make it a model of investment in other sectors - the purchase of shares.
The company must distribute at least ninety percent of their taxable income to shareholders each year as a Real Estate Investment Trust. Most Real Estate Investment Trust pays out one hundred percent of their taxable income in dividend distributions. To maintain its status as a pass-through entity, Real Estate Investment Trust dividends are paid to shareholders annually.
From 1880 to the 1930's, a similar provision in place, which allows investors to avoid double taxation - paying taxes as private and business - were convinced, because they do not pay income tax if the income is distributed to beneficiaries. It was abolished in the nineteen thirties, when the passive investments are taxed at the corporate level, as well as part of the profit tax. Real estate investment trust supporters were not able to change the law to overturn the decision within thirty years. Due to high demand for real estate funds, President Eisenhower signed the nineteen sixty Real Estate Investment Trust as a REIT tax pass-through entities.
The company must comply with all other requirements to qualify as a real estate investment trust and to win passage of a person. They should:
1. Be structured as corporation, business trust, or similar association
2. Be managed by a board of directors or trustees
3. Offer fully transferable stock shares
4. Have at least one hundred shareholders
5. Pay dividends of at least ninety percent of the REIT's taxable income
6. Have no more than fifty percent of its shares held by five or fewer individuals during the last half of each taxable year
7. Hold at least seventy five percent of total investment assets in real estate
8. Have no more than twenty percent of its assets consist of stocks in taxable real estate investment trust subsidiaries
9. Derive at least seventy five percent of gross income from rents or mortgage interest
At least ninety five percent of a real estate investment trust gross income must come from financial investments (in other words, it must pass the ninety five-percent income test). These include rents, dividends, interest and capital gains. In addition, at least seventy five percent of its income must come from certain real estate sources (the seventy five percent income test), including rents from real property, gains from the sale or other disposition of real property, and income and gain derived from foreclosure of property.
This article was written by Robert Shumake, CEO of Inheritance Capital Group, LLC and founder of http://reitbuyer.com/ an online service for people who wish to invest in real estate without the headaches and liability exposure that go with being a landlord. Visit Robert’s website to learn more about Real Estate Investment Trust.
Saturday, January 24, 2009
About REITs: Frequently Asked Questions and Answers
Real Estate Investment Trusts (REITs) enable all investors to invest in large-scale, income-producing commercial real estate backed Mortgages which is both owned and managed by professional companies. REITs provide portfolio diversification and strong, reliable dividend income.
What is a REIT?
A REIT is a company that owns and operates income-producing commercial real estate of which the shares are traded on major stock exchanges. The income is generated from rents of apartment building, offices, shopping centers, hotels and other commercial real estate.
Why were REITs Created?
REITs were created by Congress in sixties so that all investors would be able to invest in income-producing real estate and large scale commercial properties in the same way they invest in other industries. The shareholders earn a pro-rata share of the economic benefits derived from the income produced by the ownership of commercial real estate.
Who Manages REITs?
REITs are managed by an executive management team that decides which properties to own and manage. A board of directors oversees the team’s decisions and is responsible to the shareholders. REIT directors are well respected members of the real estate, business and professional communities.
Why Invest in REITs?
REITs are total return investments with high dividends and the potential for moderate, long-term appreciation. REITs are required to distribute at least 90% of their taxable income to shareholders each year; therefore, REITs are among the companies paying the highest dividends. The dividends are derived from rental income from tenants who occupy the properties; therefore, it is typically stable and predictable. REITs offer portfolio diversification which reduces risk, stable dividend income and high dividend yields.
How does one Invest in REITs?
Individuals may invest by purchasing shares through a securities dealer. One can hire a broker, investment advisor or financial planner to assist in analyzing their financial investment needs. Knowledgeable investors can contact a REIT directly to request a copy of their annual report, prospectus and other financial information. Less experienced investors can find information on financial websites or research REITs in local libraries.
Just like with other publicly traded securities, investors may buy common stock, preferred stock or debt securities. One may also diversify their portfolio by purchasing shares of REITs in mutual funds or exchange traded funds.
This article was written by Robert Shumake, CEO of Inheritance Capital Group, LLC and founder of http://reitbuyer.com/ an online service for people who wish to invest in real estate without the headaches and liability exposure that go with being a landlord. Visit Robert’s website to learn more about Real Estate Investment Trust.
What is a REIT?
A REIT is a company that owns and operates income-producing commercial real estate of which the shares are traded on major stock exchanges. The income is generated from rents of apartment building, offices, shopping centers, hotels and other commercial real estate.
Why were REITs Created?
REITs were created by Congress in sixties so that all investors would be able to invest in income-producing real estate and large scale commercial properties in the same way they invest in other industries. The shareholders earn a pro-rata share of the economic benefits derived from the income produced by the ownership of commercial real estate.
Who Manages REITs?
REITs are managed by an executive management team that decides which properties to own and manage. A board of directors oversees the team’s decisions and is responsible to the shareholders. REIT directors are well respected members of the real estate, business and professional communities.
Why Invest in REITs?
REITs are total return investments with high dividends and the potential for moderate, long-term appreciation. REITs are required to distribute at least 90% of their taxable income to shareholders each year; therefore, REITs are among the companies paying the highest dividends. The dividends are derived from rental income from tenants who occupy the properties; therefore, it is typically stable and predictable. REITs offer portfolio diversification which reduces risk, stable dividend income and high dividend yields.
How does one Invest in REITs?
Individuals may invest by purchasing shares through a securities dealer. One can hire a broker, investment advisor or financial planner to assist in analyzing their financial investment needs. Knowledgeable investors can contact a REIT directly to request a copy of their annual report, prospectus and other financial information. Less experienced investors can find information on financial websites or research REITs in local libraries.
Just like with other publicly traded securities, investors may buy common stock, preferred stock or debt securities. One may also diversify their portfolio by purchasing shares of REITs in mutual funds or exchange traded funds.
This article was written by Robert Shumake, CEO of Inheritance Capital Group, LLC and founder of http://reitbuyer.com/ an online service for people who wish to invest in real estate without the headaches and liability exposure that go with being a landlord. Visit Robert’s website to learn more about Real Estate Investment Trust.
What are REITs? Real Estate Investment Trusts
Real Estate Investment Trusts (REITs) were created in the 60s so that all investors would have access to income-producing real estate through the purchase and sale of liquid securities. Before REITs were created access to investment returns of commercial real estate equity was only available to institutions and wealthy individuals.
For over half a century, REITs have become an important part of the United States economy and investment markets. United States REITs have grown from ninety billion dollars to over three hundred billion dollars in the past decade and they have gained popularity all over the world.
During their early years, mortgage Real Estate Investment Trust dominated the industry, providing debt financing for commercial or residential properties through investments in mortgages and mortgage-backed securities. Interest in equity REITs which own and manage commercial properties was limited because of the requirements that ownership and management of assets remain separate. This restriction was lifted with the passage of the Tax Reform Act of 1986 which allowed REITs to both own and manage properties. Now, more than 90% of publicly traded United States REITs are equity REITs that own and manage commercial real estate. Most of their income is derived from rents owned by companies across the nation.
There are certain guidelines and standards in place that must be followed in order for a company to qualify as a REIT in the US. The internal Revenue Code requires at least Seventy Five percent of total assets be invested in real estate which realize at least Seventy Five percent of its gross income from rents from real property or interest from mortgages. They must also distribute at least Ninety percent of taxable income to shareholders annually in the form of dividends.
This article was written by Robert Shumake, CEO of Inheritance Capital Group, LLC and founder of http://reitbuyer.com/ an online service for people who wish to invest in real estate without the headaches and liability exposure that go with being a landlord. Visit Robert’s website to learn more about Real Estate Investment Trust.
For over half a century, REITs have become an important part of the United States economy and investment markets. United States REITs have grown from ninety billion dollars to over three hundred billion dollars in the past decade and they have gained popularity all over the world.
During their early years, mortgage Real Estate Investment Trust dominated the industry, providing debt financing for commercial or residential properties through investments in mortgages and mortgage-backed securities. Interest in equity REITs which own and manage commercial properties was limited because of the requirements that ownership and management of assets remain separate. This restriction was lifted with the passage of the Tax Reform Act of 1986 which allowed REITs to both own and manage properties. Now, more than 90% of publicly traded United States REITs are equity REITs that own and manage commercial real estate. Most of their income is derived from rents owned by companies across the nation.
There are certain guidelines and standards in place that must be followed in order for a company to qualify as a REIT in the US. The internal Revenue Code requires at least Seventy Five percent of total assets be invested in real estate which realize at least Seventy Five percent of its gross income from rents from real property or interest from mortgages. They must also distribute at least Ninety percent of taxable income to shareholders annually in the form of dividends.
This article was written by Robert Shumake, CEO of Inheritance Capital Group, LLC and founder of http://reitbuyer.com/ an online service for people who wish to invest in real estate without the headaches and liability exposure that go with being a landlord. Visit Robert’s website to learn more about Real Estate Investment Trust.
Understanding REITs – Investing in Real Estate without the Headaches and Liability Exposure of a Landlord
Commercial Real Estate is a great investment; however, it is financially out of reach for many individuals. REITs, also known as real estate stock, are Real Estate Investment Trusts which were created by Congress in 1960 to enable smaller investors to invest in large-scale, income-producing real estate.
REITs Advantages
REITs are corporations that own and manage a portfolio of real estate and mortgages of which anyone can purchase shares. REITs offer the benefits of owning real estate without the headaches and liability exposure of being a landlord.
REITs provide diversity and liquidity; they are easy to sell quickly. Investing in a portfolio rather than a single property reduces your financial risk. Dividends tend to be larger because a REIT must distribute at least 90 percent of its taxable income to shareholders each year.
As pass-through entities, many REITs pay out 100 percent of their income. A pass-through entity can deduct the dividends from their corporate income; therefore, they are not required to pay corporate federal or state income taxes. They pass the income tax paying responsibility onto their shareholders; however, they cannot pass through losses to investors.
Requirements of REITs
There are other requirements a corporation must meet in order to qualify as a REIT and maintain pass-through status, including:
Being structured as a corporation or business trust
Being managed by a board of directors
They must have at least 100 shareholders
They must offer fully transferable shares
Pay out annual dividends of at least 90 percent of their taxable income
Hold at least 75 percent of their total assets in real estate
Derive at least 75 percent of their gross income from rents or mortgage interest
Have no more than 50 percent of thier shares held by five or fewer individuals during the last have of each taxable year
Have no more than 20 percent of their assets in taxable REIT subsidiaries
Types of REITs
REITs are a diverse industry containing three main categories: equity, mortgae and hybrid.
Equity REITS: EREITs purchase, own and manage income-producing properties like apartment buildings, shopping centers, warehouses and office buildings, to name a few. Equity REITs are operated as part of a portfolio rather than purchased for resale as with typical real estate developers. EREITs are great for long-term investing because they earn dividends from income as well as capital gains from sales.
Mortgage REITs: MREITs loan money to real estate owners for mortgages or they purchase existing mortgages and mortgage back securities. Their income is generated by the interest earned on commercial and residential loans.
Hybrid REITS: HREITS are a combination of equity REITs and mortgage REIT. They own property and make loans to real estate owners; therefore, earning their income through rents and interest.
REITs can be built for a single development project and set up for a specified term, and then they are liquidated with the proceeds being distributed to the shareholders.
Other Classifications of REITs
Other classifications of REITs are Closed-end, which can only issue shares to the public once. They are only allowed to issue additional shares which dilutes the stock if the shareholders approve it. Open-end REITs can issue and redeem shares at any time.
Some REITs invest in a variety of property types in many locations while others focus their investments only in certain area or property types. A REIT may hold property in many geographical areas but only invest in apartments, industrial properties or health care facilities, for example.
Purchase Classifications of REITs
There are three major classifications on how REITs are purchased: private, publicly traded and non-exchange traded.
Private REITs are not registered with the Securities and Exchange Commission. They raise equity from individuals, trusts or other entities that are accredited under federal securities laws.
Publicly traded REITs are registered with the SEC and traded in major stock exchanges. Publicly traded REITs are easy for investors to buy and sell.
Non-exchange traded REITs are also registered with the SEC; however they are not traded on the public stock exchanges. They are sold to investors by private sponsors.
There are many different types of REITs; all offer the benefits of investing in large-scale, income-producing real estate without owning property as a landlord. REITs offer the benefit of diversity and liquidity, relatively larger dividends and relatively low financial risk.
This article was written by Robert Shumake, CEO of Inheritance Capital Group, LLC and founder of http://reitbuyer.com/ an online service for people who wish to invest in real estate without the headaches and liability exposure that go with being a landlord. Read more at http://robertshumakereits.wordpress.com/
REITs Advantages
REITs are corporations that own and manage a portfolio of real estate and mortgages of which anyone can purchase shares. REITs offer the benefits of owning real estate without the headaches and liability exposure of being a landlord.
REITs provide diversity and liquidity; they are easy to sell quickly. Investing in a portfolio rather than a single property reduces your financial risk. Dividends tend to be larger because a REIT must distribute at least 90 percent of its taxable income to shareholders each year.
As pass-through entities, many REITs pay out 100 percent of their income. A pass-through entity can deduct the dividends from their corporate income; therefore, they are not required to pay corporate federal or state income taxes. They pass the income tax paying responsibility onto their shareholders; however, they cannot pass through losses to investors.
Requirements of REITs
There are other requirements a corporation must meet in order to qualify as a REIT and maintain pass-through status, including:
Being structured as a corporation or business trust
Being managed by a board of directors
They must have at least 100 shareholders
They must offer fully transferable shares
Pay out annual dividends of at least 90 percent of their taxable income
Hold at least 75 percent of their total assets in real estate
Derive at least 75 percent of their gross income from rents or mortgage interest
Have no more than 50 percent of thier shares held by five or fewer individuals during the last have of each taxable year
Have no more than 20 percent of their assets in taxable REIT subsidiaries
Types of REITs
REITs are a diverse industry containing three main categories: equity, mortgae and hybrid.
Equity REITS: EREITs purchase, own and manage income-producing properties like apartment buildings, shopping centers, warehouses and office buildings, to name a few. Equity REITs are operated as part of a portfolio rather than purchased for resale as with typical real estate developers. EREITs are great for long-term investing because they earn dividends from income as well as capital gains from sales.
Mortgage REITs: MREITs loan money to real estate owners for mortgages or they purchase existing mortgages and mortgage back securities. Their income is generated by the interest earned on commercial and residential loans.
Hybrid REITS: HREITS are a combination of equity REITs and mortgage REIT. They own property and make loans to real estate owners; therefore, earning their income through rents and interest.
REITs can be built for a single development project and set up for a specified term, and then they are liquidated with the proceeds being distributed to the shareholders.
Other Classifications of REITs
Other classifications of REITs are Closed-end, which can only issue shares to the public once. They are only allowed to issue additional shares which dilutes the stock if the shareholders approve it. Open-end REITs can issue and redeem shares at any time.
Some REITs invest in a variety of property types in many locations while others focus their investments only in certain area or property types. A REIT may hold property in many geographical areas but only invest in apartments, industrial properties or health care facilities, for example.
Purchase Classifications of REITs
There are three major classifications on how REITs are purchased: private, publicly traded and non-exchange traded.
Private REITs are not registered with the Securities and Exchange Commission. They raise equity from individuals, trusts or other entities that are accredited under federal securities laws.
Publicly traded REITs are registered with the SEC and traded in major stock exchanges. Publicly traded REITs are easy for investors to buy and sell.
Non-exchange traded REITs are also registered with the SEC; however they are not traded on the public stock exchanges. They are sold to investors by private sponsors.
There are many different types of REITs; all offer the benefits of investing in large-scale, income-producing real estate without owning property as a landlord. REITs offer the benefit of diversity and liquidity, relatively larger dividends and relatively low financial risk.
This article was written by Robert Shumake, CEO of Inheritance Capital Group, LLC and founder of http://reitbuyer.com/ an online service for people who wish to invest in real estate without the headaches and liability exposure that go with being a landlord. Read more at http://robertshumakereits.wordpress.com/
The Launch of REIT Buyer Site - Historical Event Same Day as President Inaugural and MLK Birthday
What a day of celebration for the finance market and our country
The first national web site dedicated to Real Estate Investment Trust at www.REITbuyer.com has been launched. There are many sites designed for stocks and bonds, but there are none designed for the REIT buyers. The new REIT buyer site is focused on education, buying, and selling. Robert Shumake, well known REIT expert, said “Having première site on buying, selling and educating buyers on real estate investment trust has been a huge void in the stock market world. There is a huge gap in people having the education and know how to buy REITs”
Our president elect, Barack Obama says “Change will not come if we wait for some other person or some other time. We are the ones we've been waiting for. We are the change that we seek.”
And change is just what www.REITbuyer.com is bringing. A REIT is a security that sells like a stock on the major exchanges and invests in real estate directly, either through properties or mortgages. Real Estate Investment Trust receive special tax considerations and typically offer investors high returns, as well as a highly liquid method of investing in real estate.
Donald Trump said “Money was never a big motivation for me, except as a way to keep score. The real excitement is playing the game.” Now that’s just what the new REIT buyer site is set up for. The site not only tracks your buys and keep your score; it educates you on the real estate trust too.
Mortgage REITs deal in the investment and ownership of real estate mortgages. The REITs loan money for mortgages to owners of real estate, or purchase existing real estate backed mortgages. The REIT revenues are produced mainly by the interest that they earn on the mortgage backed loans. A hybrid REITs combines the investment strategies of equity REITs and mortgage backed REITs by investing in both properties and mortgages.
It is very exciting to have a National launch on same day as Martin Luther King’s birthday and the inauguration of a new president. Three great moments in history happen. Learn more at http://robertshumakereits.wordpress.com/
The first national web site dedicated to Real Estate Investment Trust at www.REITbuyer.com has been launched. There are many sites designed for stocks and bonds, but there are none designed for the REIT buyers. The new REIT buyer site is focused on education, buying, and selling. Robert Shumake, well known REIT expert, said “Having première site on buying, selling and educating buyers on real estate investment trust has been a huge void in the stock market world. There is a huge gap in people having the education and know how to buy REITs”
Our president elect, Barack Obama says “Change will not come if we wait for some other person or some other time. We are the ones we've been waiting for. We are the change that we seek.”
And change is just what www.REITbuyer.com is bringing. A REIT is a security that sells like a stock on the major exchanges and invests in real estate directly, either through properties or mortgages. Real Estate Investment Trust receive special tax considerations and typically offer investors high returns, as well as a highly liquid method of investing in real estate.
Donald Trump said “Money was never a big motivation for me, except as a way to keep score. The real excitement is playing the game.” Now that’s just what the new REIT buyer site is set up for. The site not only tracks your buys and keep your score; it educates you on the real estate trust too.
Mortgage REITs deal in the investment and ownership of real estate mortgages. The REITs loan money for mortgages to owners of real estate, or purchase existing real estate backed mortgages. The REIT revenues are produced mainly by the interest that they earn on the mortgage backed loans. A hybrid REITs combines the investment strategies of equity REITs and mortgage backed REITs by investing in both properties and mortgages.
It is very exciting to have a National launch on same day as Martin Luther King’s birthday and the inauguration of a new president. Three great moments in history happen. Learn more at http://robertshumakereits.wordpress.com/
Sunday, January 11, 2009
Homeownership Rap by Robert Shumake
This is a repost of an article originally Posted by DaveRap News Network
4/2/2006 11:44:22 AM
http://www.rapnews.net/0-202-261161-00.html
A rap CD about homeownership? Yes! Detroit-based, African-American real estate developer/investor Robert Shumake has produced Take The Land: Elements of Real Estate featuring many well-known spoken word and Def Poetry artists such as Umar Bin Hassan of The Last Poets, Big Proof of D12 and M-1 of Dead Prez. Shumake, who went from being homeless as a child to owning one of the top real estate concerns in Michigan, is passionate about creating homeownership in the African-American community. And being of the hip-hop generation himself, Shumake, 37, thought what better way to spread the word than through rhyme.
In all, there are 13 cuts each exploring different elements of real estate. The lineup of acts includes Jessica Care Moore, Prof. Griff of Public Enemy, and Abyss. All of the proceeds from the self-distributed CD on Iron Fist Records will go directly to the Robert S. Shumake Foundation. The foundation sponsors a U.S. sanctioned Track and Field Meet annually in Detroit where student athletes from the Midwest compete for trophies and college scholarships. This year the Robert S. Shumake Scholarship Relays will be held at MLK High School on April 29, 2006 The scholarships that his foundation provides are administered through the Detroit branch of UNCF.
A true Horatio Alger saga. That's what some might say about the life of Detroit businessman Robert Shumake. But that's just scratching the surface. Fact is, as a child Robert Shumake and his family were homeless, ultimately becoming squatters in a rundown home with no heat. But today Shumake owns one of Michigan’s top real estate development and investment firms, Inheritance Investment Group. And Shumake has yet to see his 40th birthday—he’s just 37.
But despite all this success in a relatively short time, Shumake, who company has grown into a multimillion business, wasn't satisfied.
He wasn't satisfied because he saw too few African Americans owning homes. Then though his work on the Board of Directors for the Federal Home Loan Bank Board, the second largest bank in America with $700 billion in assets, Shumake presided over the Affordable Housing Committees in Michigan and Indiana and helped boost homeownership by African Americans to record numbers.
Now, Shumake is turning his attention to encouraging more African-American athletes to get a college education. He has launched the Robert S. Shumake Foundation. His foundation sponsors a U.S.-sanctioned Track and Field Meet annually in Detroit where student athletes from the Midwest compete for trophies and college scholarships. This year the Robert S. Shumake Scholarship Relays will be held at MLK High School on April 29, 2006. The scholarships that his foundation provides are administered through the Detroit branch of UNCF.
In addition to this, Shumake is also encouraging young African Americans to think out getting into real estate. And being of the hip-hop generation himself, Shumake, 37, thought what better way to spread the word than through hip hop. He has produced Take The Land: Elements of Real Estate featuring many well-known spoken word and Def Poetry artists such as Umar Bin Hassan of The Last Poets, Big Proof of D12 and M-1 of Dead Prez. In all there are 13 cuts each exploring different elements of real estate. The lineup of acts includes Jessica Care Moore, Prof. Griff of Public Enemy, and Abyss. All of the proceeds from the self-distributed CD on Iron Fist Records will go directly to the Robert S. Shumake Foundation.
Find out more about Robert Shumake. Other items you may find on Robert Shumake include updates, news, multimedia, chat, links and more. Click here...
4/2/2006 11:44:22 AM
http://www.rapnews.net/0-202-261161-00.html
A rap CD about homeownership? Yes! Detroit-based, African-American real estate developer/investor Robert Shumake has produced Take The Land: Elements of Real Estate featuring many well-known spoken word and Def Poetry artists such as Umar Bin Hassan of The Last Poets, Big Proof of D12 and M-1 of Dead Prez. Shumake, who went from being homeless as a child to owning one of the top real estate concerns in Michigan, is passionate about creating homeownership in the African-American community. And being of the hip-hop generation himself, Shumake, 37, thought what better way to spread the word than through rhyme.
In all, there are 13 cuts each exploring different elements of real estate. The lineup of acts includes Jessica Care Moore, Prof. Griff of Public Enemy, and Abyss. All of the proceeds from the self-distributed CD on Iron Fist Records will go directly to the Robert S. Shumake Foundation. The foundation sponsors a U.S. sanctioned Track and Field Meet annually in Detroit where student athletes from the Midwest compete for trophies and college scholarships. This year the Robert S. Shumake Scholarship Relays will be held at MLK High School on April 29, 2006 The scholarships that his foundation provides are administered through the Detroit branch of UNCF.
A true Horatio Alger saga. That's what some might say about the life of Detroit businessman Robert Shumake. But that's just scratching the surface. Fact is, as a child Robert Shumake and his family were homeless, ultimately becoming squatters in a rundown home with no heat. But today Shumake owns one of Michigan’s top real estate development and investment firms, Inheritance Investment Group. And Shumake has yet to see his 40th birthday—he’s just 37.
But despite all this success in a relatively short time, Shumake, who company has grown into a multimillion business, wasn't satisfied.
He wasn't satisfied because he saw too few African Americans owning homes. Then though his work on the Board of Directors for the Federal Home Loan Bank Board, the second largest bank in America with $700 billion in assets, Shumake presided over the Affordable Housing Committees in Michigan and Indiana and helped boost homeownership by African Americans to record numbers.
Now, Shumake is turning his attention to encouraging more African-American athletes to get a college education. He has launched the Robert S. Shumake Foundation. His foundation sponsors a U.S.-sanctioned Track and Field Meet annually in Detroit where student athletes from the Midwest compete for trophies and college scholarships. This year the Robert S. Shumake Scholarship Relays will be held at MLK High School on April 29, 2006. The scholarships that his foundation provides are administered through the Detroit branch of UNCF.
In addition to this, Shumake is also encouraging young African Americans to think out getting into real estate. And being of the hip-hop generation himself, Shumake, 37, thought what better way to spread the word than through hip hop. He has produced Take The Land: Elements of Real Estate featuring many well-known spoken word and Def Poetry artists such as Umar Bin Hassan of The Last Poets, Big Proof of D12 and M-1 of Dead Prez. In all there are 13 cuts each exploring different elements of real estate. The lineup of acts includes Jessica Care Moore, Prof. Griff of Public Enemy, and Abyss. All of the proceeds from the self-distributed CD on Iron Fist Records will go directly to the Robert S. Shumake Foundation.
Find out more about Robert Shumake. Other items you may find on Robert Shumake include updates, news, multimedia, chat, links and more. Click here...
About Dr. Robert Shumake, Founder of Inheritance Capital Group
This article was originally posted at http://blackentrepreneurshalloffame.blogspot.com/2005/12/dr-robert-s-shumake.html
Dr. Robert S. Shumake is the founder of Inheritance Investment Group, a Michigan based real estate investment and development firm. As founder and president, Dr. Shumake invests, manages and develops commercial and residential real estate. Dr. Shumake has implemented policies and funding strategies to raise capital for small businesses, mortgage loans, commercial leasing and specialized financing. Dr. Shumake's vision is to expand housing opportunities for people dreaming the American dream of owning a home.Dr. Shumake founded the real estate and business corporation, First Equity Holdings in 1996. Since then, First Equity Holdings managed and sold 85% of the Department of Housing and Urban Development (HUD) inventory in the state of Michigan with sales of approximately 80 million dollars. In addition, Dr. Shumake has developed, sold, or financed well over 100 million dollars in real estate. Based on the success of First Equity Holdings, Dr. Shumake received a White House appointment to the Board of Directors for the Federal Home Loan Bank Board, the second largest bank in America with 700 billion in assets. As a director, Dr. Shumake presided over the Affordable Housing Committees in Michigan and Indiana. Dr. Shumake was also appointed by the governor of Michigan, as a member of the Board of Real Estate Brokers and Salespersons with responsibilities to regulate and license real estate professionals. As a supporter of cultural arts, Dr. Shumake is a member of the Charles H. Wright Museum of African American History, located in Detroit, MI . Dr. Shumake also served on the board of directors for the Lewis College of Business. Dr. Shumake is an active culturist, specializing in political and educational fundraising strategies. He has also served on national finance committees for not-for-profit companies and political candidates.Dr. Shumake has written For Entrepreneurs Who Considered Suicide When Business Got Tough! for individuals looking to achieve their entrepreneurial and financial dreams. The book is a guide, based on Dr. Shumake's experiences as an entrepreneur, for building wealth. Packed with quotes and helpful advice, as well as interactive pages for recording your personal and professional goals, For Entrepreneurs Who Considered Suicide When Business Got Tough! is a must have resource for anyone on a journey to do business well.In addition to being an author, Dr. Shumake hosts radio and television programs in the Detroit area. His radio show, “Necessary Business with Robert Shumake” airs weekly on WCHB-AM. “Take the Land” is a simulcast program that airs weekly. “Take the Land” can be seen on TV 68, TV 33 and heard on WHPR 88.1 FM in Detroit, Michigan.
Read more about Robert Shumake on his blog at http://activerain.com/blogs/reitadvisor
Dr. Robert S. Shumake is the founder of Inheritance Investment Group, a Michigan based real estate investment and development firm. As founder and president, Dr. Shumake invests, manages and develops commercial and residential real estate. Dr. Shumake has implemented policies and funding strategies to raise capital for small businesses, mortgage loans, commercial leasing and specialized financing. Dr. Shumake's vision is to expand housing opportunities for people dreaming the American dream of owning a home.Dr. Shumake founded the real estate and business corporation, First Equity Holdings in 1996. Since then, First Equity Holdings managed and sold 85% of the Department of Housing and Urban Development (HUD) inventory in the state of Michigan with sales of approximately 80 million dollars. In addition, Dr. Shumake has developed, sold, or financed well over 100 million dollars in real estate. Based on the success of First Equity Holdings, Dr. Shumake received a White House appointment to the Board of Directors for the Federal Home Loan Bank Board, the second largest bank in America with 700 billion in assets. As a director, Dr. Shumake presided over the Affordable Housing Committees in Michigan and Indiana. Dr. Shumake was also appointed by the governor of Michigan, as a member of the Board of Real Estate Brokers and Salespersons with responsibilities to regulate and license real estate professionals. As a supporter of cultural arts, Dr. Shumake is a member of the Charles H. Wright Museum of African American History, located in Detroit, MI . Dr. Shumake also served on the board of directors for the Lewis College of Business. Dr. Shumake is an active culturist, specializing in political and educational fundraising strategies. He has also served on national finance committees for not-for-profit companies and political candidates.Dr. Shumake has written For Entrepreneurs Who Considered Suicide When Business Got Tough! for individuals looking to achieve their entrepreneurial and financial dreams. The book is a guide, based on Dr. Shumake's experiences as an entrepreneur, for building wealth. Packed with quotes and helpful advice, as well as interactive pages for recording your personal and professional goals, For Entrepreneurs Who Considered Suicide When Business Got Tough! is a must have resource for anyone on a journey to do business well.In addition to being an author, Dr. Shumake hosts radio and television programs in the Detroit area. His radio show, “Necessary Business with Robert Shumake” airs weekly on WCHB-AM. “Take the Land” is a simulcast program that airs weekly. “Take the Land” can be seen on TV 68, TV 33 and heard on WHPR 88.1 FM in Detroit, Michigan.
Read more about Robert Shumake on his blog at http://activerain.com/blogs/reitadvisor
Thursday, January 8, 2009
Robert Shumake to Speak at Real Estate Investors Club in Detroit, MI; Dr. Robert Shumake will Discuss REITs (Real Estate Investment Trusts)
Panel of Real Estate Investing Experts Bring in the New Year at the January Mega Evening Event
Detroit, MI – Business owners and Real Estate Investors should have already set their goals for 2009. Now is the time to begin to take action with a new business plan. The real estate market is constantly changing; new techniques for investing are being utilized all the time by the most successful real estate investors in the Metro Detroit area.
The National Real Estate Network is a real estate investing club who meets the 3rd Thursday of each month. Mark Maupin, founder, will be hosting a panel of the top producing real estate experts in the Metro Detroit area to speak at the meeting in January and answer questions.
Dr. Robert Shumake is a real estate master, noted author, mentor and motivator. He will be the keynote speaker at the event. Robert Shumake wrote the book entitled For Entrepreneurs who Considered Suicide when Business got Tough. He currently owns over 3 million sq. ft. of office and commercial space which he rents to some of the largest corporations in America. Robert will talk about how to make money in our current market, sharing tips on making the best of even the most difficult times. As a special bonus, Robert will discuss the role REITs (Real Estate Investment Trusts) play in our market.
Also joining the panel is Mark Abruzzese, a real estate investor who buys and sells over 20 homes per month in the Detroit market. Mark will share his secrets for success in today’s tough market.
Markwei Boye is a CPA who will be sharing tips on reducing your income taxes. Income tax planning is much more effective when done very early in the year, not at the end when it is often too late to change anything. Come and hear Markwei Boye now so that income tax day is as painless as possible April 15, 2010.
Get ready to take action and set new goals in the New Year. Register for the Mega Evening Event meeting on January 15, 2009, from 6pm to 9pm, at the WCCC Western Campus located at 9555 Haggerty Rd; Belleville, MI, 48111. The meeting will be in the lecture room. Call 248-762-0800 or visit http://www.megaeveningevent.com for details.
Detroit, MI – Business owners and Real Estate Investors should have already set their goals for 2009. Now is the time to begin to take action with a new business plan. The real estate market is constantly changing; new techniques for investing are being utilized all the time by the most successful real estate investors in the Metro Detroit area.
The National Real Estate Network is a real estate investing club who meets the 3rd Thursday of each month. Mark Maupin, founder, will be hosting a panel of the top producing real estate experts in the Metro Detroit area to speak at the meeting in January and answer questions.
Dr. Robert Shumake is a real estate master, noted author, mentor and motivator. He will be the keynote speaker at the event. Robert Shumake wrote the book entitled For Entrepreneurs who Considered Suicide when Business got Tough. He currently owns over 3 million sq. ft. of office and commercial space which he rents to some of the largest corporations in America. Robert will talk about how to make money in our current market, sharing tips on making the best of even the most difficult times. As a special bonus, Robert will discuss the role REITs (Real Estate Investment Trusts) play in our market.
Also joining the panel is Mark Abruzzese, a real estate investor who buys and sells over 20 homes per month in the Detroit market. Mark will share his secrets for success in today’s tough market.
Markwei Boye is a CPA who will be sharing tips on reducing your income taxes. Income tax planning is much more effective when done very early in the year, not at the end when it is often too late to change anything. Come and hear Markwei Boye now so that income tax day is as painless as possible April 15, 2010.
Get ready to take action and set new goals in the New Year. Register for the Mega Evening Event meeting on January 15, 2009, from 6pm to 9pm, at the WCCC Western Campus located at 9555 Haggerty Rd; Belleville, MI, 48111. The meeting will be in the lecture room. Call 248-762-0800 or visit http://www.megaeveningevent.com for details.
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