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Table Of Contents

THE FIVE MAGIC WAYS TO WEALTH
NOW IT’S TIME TO MAKE REAL MONEY
Now It’s Time to Make Real Money5
GUIDELINES FOR GETTING STARTED
COMBINE TECHNIQUES TO ENSURE SUCCESS
BEFORE YOU ROLL UP YOUR SLEEVES
Before You Roll Up Your Sleeves7
TAKE SOME MEASUREMENTS OF YOUR MARKET
THE FIX-UP-AND-SELL STRATEGY
SEEK FIXER-UPPERS IN ALL PRICE LEVELS
Seek Fixer-Uppers in All Price Levels15
YOU MAY WISH TO LIVE IN YOUR INVESTMENT
REHABBING:FREQUENTLY ASKED QUESTIONS
Finding the Fixer-Upper Bargain
MINING FOR GOLD:TARGET A NEIGHBORHOOD
FIND SELLERS WITH NEGLECTED PROPERTIES
Find Sellers with Neglected Properties27
WAYS TO FIND SELLERS
DON’T OVERLOOK OUT-OF-STATE OWNERS
SEEK HOUSES THROUGH MLS OR THE INTERNET
GET AGENTS TO BIRD DOG PROPERTY FOR YOU
WHEN YOU’RE OFFERED A GROUP OF HOUSES
IT’S ALL ABOUT PROSPECTING
It’s All about Prospecting39
TAKING OVER A QUALIFYING FORECLOSURE
GETTING AN REO FROM THE BANK
Repairs That Make You the Most Money
START BY GETTING ACCURATE ESTIMATES
FOUR BROAD AREAS OF REPAIRS
SIX MAJOR AREAS OF INSPECTION AND REPAIR
Six Major Areas of Inspection and Repair59
FROM PRELIMINARY OUTLINE TO FINALIZED LIST
EARLY INSPECTIONS AVOID PROBLEMS LATER
TYPICAL REPAIRS YOU MAY ENCOUNTER
Typical Repairs You May Encounter65
WHAT REPAIRS TO AVOID
ALWAYS SOLVE CODE VIOLATIONS
SIX-POINT CHECKLIST FOR FIXING UP
Valuing Properties Is the Key to Profits
JUDGING THE “AFTER REPAIRS”VALUE
REPAIR COSTS LEAD TO FINDING VALUE
Repair Costs Lead to Finding Value75
GETTING STARTED IN VALUING HOUSES
DOING A MINI-APPRAISAL
Features to Adjust in the Mini-Appraisal83
NEIGHBORHOOD PRICES TEND TO CLUSTER
Negotiate to Get Your Offers Accepted
HOW MUCH PROFIT DO YOU TAKE?
HOW TO DETERMINE MAXIMUM OFFER PRICE
How to Determine Maximum Offer Price89
USE REPAIR COSTS TO CONVINCE THE SELLER
BE READY TO WALK AWAY IF NO SOLUTION
MAKE OFFERS ON A REGULAR BASIS
Make Offers on a Regular Basis97
Wholesale Property for Steady Gains
GETTING STARTED WITH WHOLESALING
ADVICE FOR A NEWBIE!
Advice for a Newbie!107
SEARCHING FOR A PROPERTY TO FLIP
TO WHOM DO YOU WHOLESALE?
To Whom Do You Wholesale?109
RUN AN AD TO ATTRACT INVESTOR-BUYERS
IT’S ALL ABOUT ESTABLISHING RELATIONSHIPS
CONTRACT PROVISIONS FOR WHOLESALING
Contract Provisions for Wholesaling113
PROBLEMS AND SOLUTIONS IN WHOLESALING
DOWN PAYMENT AND CLOSING COSTS
SHOP FOR MORTGAGE LOANS
WHAT TYPES OF MORTGAGES ARE AVAILABLE?
What Types of Mortgages Are Available?121
COMPARING DIFFERENT MORTGAGES
CASH FROM A HOME EQUITY CREDIT LINE
REHABBING THROUGH THE FHA 203(k) LOAN
Rehabbing through the FHA 203(k) Loan131
FANNIE MAE HOMESTYLE LOAN
Fannie Mae HomeStyle Loan135
Financing II: Help from the Seller
SECONDARY FINANCING FROM THE SELLER
SELLER FINANCING WITH SECOND MORTGAGE
Seller Financing with Second Mortgage137
WHAT “NO MONEY DOWN”REALLY MEANS
PROBLEMS OF BUYING “SUBJECT TO”
Problems of Buying “Subject to”141
USING A LAND TRUST
Using a Land Trust143
WORD OF WARNING
TITLE I LOAN GUARANTEE
Title I Loan Guarantee145
QUESTIONS AND ANSWERS ON FINANCING
A FINAL NOTE
BE A MATCHMAKER
MAKING A LEASE/OPTION OFFER
DOING THE TYPICAL LEASE/OPTION DEAL
YOUR FIRST LEASE/OPTION DEAL
Your First Lease/Option Deal161
MAKING SURE YOU’VE GOT A GREAT DEAL
FIVE WAYS TO FIND TENANT-BUYERS
Five Ways to Find Tenant-Buyers165
STRUCTURING A SAFE LEASE/OPTION
WORKING OUT A SIMULTANEOUS CLOSING
Buy-and-Hold I: The Single-Family
BUY AND SELL, OR BUY AND HOLD
THE BUY-AND-HOLD STRATEGY
BUYING AND RENTING OUT THE SINGLE-FAMILY
Buying and Renting Out the Single-Family183
THE FIVE TOOLS THAT LEAD TO WEALTH
The Five Tools That Lead to Wealth187
A CAPITAL GAINS TAX REVIEW
A Capital Gains Tax Review189
MAINTAINING INVESTOR STATUS WITH THE IRS
EXAMPLE A:THE TIME VALUE OF MONEY
Example A:The Time Value of Money193
EXAMPLE C:BUYING A RENTAL HOUSE
Example C:Buying a Rental House195
THE PRESENT VALUE OF AN INVESTMENT
The Present Value of an Investment197
Buy-and-Hold II: The Multifamily
TARGET PROPERTIES THAT THROW OFF CASH
WORKING WITH THE CAPITALIZATION RATE
Finding the Value of an Income Property
A FIRST DEAL:USING CAP RATE TO PEG VALUE
DISCOUNTING CASH FLOW AFTER FINANCING
Discounting Cash Flow after Financing219
INTERNAL RATE OF RETURN
Internal Rate of Return221
YOUR CASH FLOW AFTER TAXES
Making the Offer on the Multifamily
BEWARE OF GROSS RENT MULTIPLIER
DECIDING TO BUY OR NOT TO BUY
Financing the Multifamily
GETTING THE SELLER TO FINANCE
TAKE OVER A LARGE MORTGAGE
Take Over a Large Mortgage255
SOME FINANCING GUIDELINES
Some Financing Guidelines259
THE ROTH IRA
Managing Your Property
WHAT A PROPERTY MANAGER DOES
What a Property Manager Does267
GETTING GOOD TENANTS
A LANDLORD’S PRIMER
A Landlord’s Primer269
YOUR LIABILITY AS A LANDLORD
BEFORE THE FINISH—USE AN ATTORNEY
Before the Finish—Use an Attorney281
KNOWLEDGE GIVES YOU CONFIDENCE
WORK HARD TO BECOME KNOWN
Work Hard to Become Known283
RECENT TAX LAWS KEEP DOLLARS IN YOUR POCKET
SHELTERING TAXABLE GAINS FROM YOUR HOME
TAX RULES FOR SECOND-HOME OWNERSHIP
Tax Rules for Second-Home Ownership289
ARE YOU A DEALER OR AN INVESTOR?
Are You a Dealer or an Investor?293
THE TAX-DEFERRED “STARKER”EXCHANGE
The Tax-Deferred “Starker”Exchange295
COMBINING THE “EXCHANGE”WITH THE “EXCLUSION”
Combining the “Exchange”with the “Exclusion”299
TIPS TO REMEMBER
FINAL THOUGHTS
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5 Magic Paths to Making a Fortune in Real Estate 0471548251

5 Magic Paths to Making a Fortune in Real Estate 0471548251

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Published by: krishnak_49 on Feb 20, 2012
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