Investing In Real Estate

Recommendations

Info

xiv CONTENTS Know Your Finances 201 Know Your Capabilities 202 Smart Strategic Decisions 202 Local Markets Require Tailored Strategies 203 Craig Wilson’s Profit-Boosting Market Strategy How Craig Wilson Used Market Information to Enhance 203 the Profitability of His Property 206 Results 210 Cut Operating Expenses 210 Energy Audits 210 Property Insurance 211 Maintenance and Repair Costs 214 Property Taxes and Income Taxes 214 Increasing Value: Final Words 215 12 DEVELOP THE BEST LEASE 216 The Mythical “Standard” Lease 216 Your Market Strategy 216 Search for Competitive Advantage 218 Craft Your Rental Agreement 219 Names and Signatures 219 Joint and Several Liability 219 Guests 220 Length of Tenancy 220 Holdover Tenants (Mutual Agreement) 220 Holdover Tenants (without Permission) 221 Property Description 221 Inventory and Describe Personal Property 221 Rental Amounts 222 Late Fees and Discounts 222 Multiple Late Payments 222 Bounced Check Fees and Termination 223 Tenant “Improvements” 223
CONTENTS xv Owner Access 223 Quiet Enjoyment 224 Noxious Odors 224 Disturbing External Influences 224 Tenant Insurance 225 Sublet and Assignment 225 Pets 226 Security Deposits 226 Yard Care 228 Parking, Number, and Type of Vehicles 228 Repairs 228 Roaches, Fleas, Ants 229 Neat and Clean 229 Rules and Regulations 229 Wear and Tear 230 Lawful Use of Premises 230 Notice 230 Failure to Deliver 231 Utilities, Property Taxes, Association Fees 231 Liquid-Filled Furniture 231 Abandonment of Property 232 Non-waivers 232 Breach of Lease (or House Rules) 232 No Representations (Full Agreement) 233 Arbitration 233 Attorney Fees (Who Pays?) 234 Written Notice to Remedy 235 Tenants Rights Laws 235 Tenant Selection 235 Property Operations 237 Evictions 237 Landlording: Pros and Cons 238 Possibilities, Not Probabilities 238 Professional Property Managers 238
Page 3: Praise for Gary Eldred “Donald Tr
Page 6 and 7: Copyright C○ 2009 by Gary W. Eldr
Page 8 and 9: vi CONTENTS Create Value: Improve t
Page 10 and 11: viii CONTENTS Valuation Methods: Su
Page 12 and 13: x CONTENTS Satisfy Lenders and Lien
Page 14 and 15: xii CONTENTS What Types of Improvem
Page 18 and 19: xvi CONTENTS 13 CREATE SALES PROMOT
Page 20 and 21: xviii CONTENTS Emerging Growth Area
Page 22 and 23: xx PROLOGUE falling? Get out and go
Page 24 and 25: xxii PROLOGUE increases in price (f
Page 26 and 27: xxiv PROLOGUE My Texas Example I ow
Page 29 and 30: ACKNOWLEDGMENTS Many people have co
Page 31 and 32: 1 WHY INVESTING IN REAL ESTATE PROV
Page 33 and 34: 22 SOURCES OF RETURNS FROM INVESTME
Page 47 and 48: IS PROPERTY ALWAYS BEST? 17 So, whe
Page 49 and 50: SHOULD YOU INVEST WITH LITTLE OR NO
Page 59 and 60: MAXIMIZE LEVERAGE WITH OWNER-OCCUPA
Page 61 and 62: WHAT ARE THE LOAN LIMITS? 31 FHA va
Page 63 and 64: HIGH LEVERAGE FOR INVESTOR-OWNER FI
Page 65 and 66: HIGH LEVERAGE FOR INVESTOR-OWNER FI
Page 67 and 68:
HIGH LEVERAGE FOR INVESTOR-OWNER FI
Page 69 and 70:
WHAT UNDERWRITING STANDARDS DO LEND
Page 71 and 72:
Page 73 and 74:
Page 75 and 76:
Page 77 and 78:
3 APPRAISAL: HOW TO DISCOVER GOOD V
Page 79 and 80:
WHAT IS MARKET VALUE? 49 price at w
Page 81 and 82:
HOW TO ESTIMATE MARKET VALUE 51 app
Page 83 and 84:
PROPERTY DESCRIPTION 53 Uniform Res
Page 85 and 86:
A D D I T I O N A L C O M M E N T S
Page 87 and 88:
PROPERTY DESCRIPTION 57 Uniform Res
Page 89 and 90:
PROPERTY DESCRIPTION 59 and condomi
Page 91 and 92:
THE COST APPROACH 61 the space. Her
Page 93 and 94:
Estimate Market Value (Cost Approac
Page 95 and 96:
THE COMPARABLE SALES APPROACH 65 pr
Page 97 and 98:
THE INCOME APPROACH 67 Comp 3 locat
Page 99 and 100:
INCOME CAPITALIZATION INCOME CAPITA
Page 101 and 102:
INCOME CAPITALIZATION 71 12. Miscel
Page 103 and 104:
INCOME CAPITALIZATION 73 the future
Page 105 and 106:
VALUATION METHODS: SUMMING UP 75 th
Page 107 and 108:
4 MAXIMIZE CASH FLOWS AND GROW YOUR
Page 109 and 110:
WILL THE PROPERTY YIELD GOOD CASH F
Page 111 and 112:
Page 113 and 114:
Page 115 and 116:
WILL THE PROPERTY YIELD PROFITABLE
Page 117 and 118:
Page 119 and 120:
Page 121 and 122:
Page 123 and 124:
Page 125 and 126:
SUMMING UP 95 The lesson: Learn tre
Page 127 and 128:
WHY PROPERTIES SELL FOR LESS (OR MO
Page 129 and 130:
WHY PROPERTIES SELL FOR LESS (OR MO
Page 131 and 132:
BARGAIN SELLERS 101 Would you prefe
Page 133 and 134:
BARGAIN SELLERS 103 gauge rent leve
Page 135 and 136:
Agent Services BARGAIN SELLERS 105
Page 137 and 138:
SELLER DISCLOSURES 107 Buyer Loyalt
Page 139 and 140:
SUMMARY 109 Verify rental income an
Page 141 and 142:
Lender Tries to Resolve Problem THE
Page 143 and 144:
BUY PREFORECLOSURES FROM DISTRESSED
Page 145 and 146:
PREQUALIFY HOMEOWNERS AND PROPERTIE
Page 147 and 148:
FINDING HOMEOWNERS IN DEFAULT (PREF
Page 149 and 150:
FIND HOMEOWNERS (POSTFILING) 119
Page 151 and 152:
SATISFY LENDERS AND LIEN HOLDERS 12
Page 153 and 154:
SATISFY LENDERS AND LIEN HOLDERS 12
Page 155 and 156:
PROFIT FROM THE FORECLOSURE AUCTION
Page 157 and 158:
THE FORECLOSURE SALE: SUMMING UP 12
Page 159 and 160:
HOW TO FIND REOs 129 high numbers o
Page 161 and 162:
HUD HOMES AND OTHER HUD PROPERTIES
Page 163 and 164:
HUD HOMES AND OTHER HUD PROPERTIES
Page 165 and 166:
DEPARTMENT OF VETERANS AFFAIRS (REO
Page 167 and 168:
FEDERAL GOVERNMENT AUCTIONS 137 fir
Page 169 and 170:
PRIVATE AUCTIONS 139 announced the
Page 171 and 172:
PRIVATE AUCTIONS 141 auctions, priv
Page 173 and 174:
LOOK FOR “FIXERS” 143 banked be
Page 175 and 176:
LOOK FOR “FIXERS” 145 replace r
Page 177 and 178:
IMPROVEMENT POSSIBILITIES 147 I fir
Page 179 and 180:
IMPROVEMENT POSSIBILITIES 149 the l
Page 181 and 182:
REQUIRED REPAIRS AND IMPROVEMENTS 1
Page 183 and 184:
REQUIRED REPAIRS AND IMPROVEMENTS 1
Page 185 and 186:
YOU CAN IMPROVE EVERYTHING ABOUT A
Page 187 and 188:
WHAT TYPES OF IMPROVEMENTS PAY THE
Page 189 and 190:
BUDGETING FOR RESALE PROFITS 159 re
Page 191 and 192:
BUDGETING FOR RESALE PROFITS 161 Yo
Page 193 and 194:
SHOULD YOU BUY A “FIXER”? 163 f
Page 195 and 196:
9 MORE TECHNIQUES FOR HIGH YIELDS A
Page 197 and 198:
LEASE OPTIONS 167 easier to cut oth
Page 199 and 200:
LEASE OPTIONS 169 at both a bargain
Page 201 and 202:
LEASE PURCHASE AGREEMENTS 171 rejec
Page 203 and 204:
CONVERSIONS 173 renovation, and leg
Page 205 and 206:
CONVERSIONS 175 of the co-owners wi
Page 207 and 208:
MASTER LEASES 177 After (New Manage
Page 209 and 210:
SUMMARY 179 are skilled in spotting
Page 211 and 212:
WIN-WIN PRINCIPLES 181 to stand str
Page 213 and 214:
THE PURCHASE CONTRACT 183 better yo
Page 215 and 216:
THE PURCHASE CONTRACT 185 been desi
Page 217 and 218:
THE PURCHASE CONTRACT 187 Just keep
Page 219 and 220:
THE PURCHASE CONTRACT 189 To elimin
Page 221 and 222:
THE PURCHASE CONTRACT 191 ♦ Secur
Page 223 and 224:
THE PURCHASE CONTRACT 193 off-plan
Page 225 and 226:
THE PURCHASE CONTRACT 195 If you pu
Page 227 and 228:
SUMMARY 197 then can you (or your c
Page 229 and 230:
11 MANAGE YOUR PROPERTIES TO INCREA
Page 231 and 232:
Know Yourself THE 10:1 RULE (MORE O
Page 233 and 234:
SMART STRATEGIC DECISIONS 203 estat
Page 235 and 236:
SMART STRATEGIC DECISIONS 205 too l
Page 237 and 238:
SMART STRATEGIC DECISIONS 207 or st
Page 239 and 240:
Figure 11.2 New Kitchen Design SMAR
Page 241 and 242:
CUT OPERATING EXPENSES 211 energy c
Page 243 and 244:
CUT OPERATING EXPENSES 213 Also, ev
Page 245 and 246:
INCREASING VALUE: FINAL WORDS 215 I
Page 247 and 248:
THE MYTHICAL “STANDARD” LEASE 2
Page 249 and 250:
CRAFT YOUR RENTAL AGREEMENT 219 You
Page 251 and 252:
CRAFT YOUR RENTAL AGREEMENT 221 pos
Page 253 and 254:
CRAFT YOUR RENTAL AGREEMENT 223 chr
Page 255 and 256:
CRAFT YOUR RENTAL AGREEMENT 225 In
Page 257 and 258:
CRAFT YOUR RENTAL AGREEMENT 227 (Th
Page 259 and 260:
CRAFT YOUR RENTAL AGREEMENT 229 App
Page 261 and 262:
Failure to Deliver CRAFT YOUR RENTA
Page 263 and 264:
CRAFT YOUR RENTAL AGREEMENT 233 cla
Page 265 and 266:
TENANTS RIGHTS LAWS 235 Guess what?
Page 267 and 268:
TENANTS RIGHTS LAWS 237 this would
Page 269 and 270:
LANDLORDING: PROS AND CONS 239 beat
Page 271 and 272:
DESIGN A WINNING VALUE PROPOSITION
Page 273 and 274:
CRAFT YOUR SELLING MESSAGE 243 buye
Page 275 and 276:
Establish Credibility CRAFT YOUR SE
Page 277 and 278:
REACH POTENTIAL BUYERS 247 Banish t
Page 279 and 280:
SHOULD YOU EMPLOY A REALTY AGENT? 2
Page 281 and 282:
SHOULD YOU EMPLOY A REALTY AGENT? 2
Page 283 and 284:
Especially review the following cla
Page 285 and 286:
14 PAY LESS TAX Property taxes and
Page 287 and 288:
HOMEOWNER TAX SAVINGS 257 Flipper
Page 289 and 290:
HOMEOWNER TAX SAVINGS 259 your pers
Page 291 and 292:
HOMEOWNER TAX SAVINGS 261 You use t
Page 293 and 294:
CAPITAL GAINS CAPITAL GAINS 263 Low
Page 295 and 296:
TAX-FREE EXCHANGES 265 As another a
Page 297 and 298:
TAX-FREE EXCHANGES 267 (as they are
Page 299 and 300:
REPORTING RENTAL INCOME AND DEDUCTI
Page 301 and 302:
TAX CREDITS 271 (HVAC) system, a ma
Page 303 and 304:
TAX CREDITS 273 public accountants
Page 305 and 306:
TAX CREDITS 275 positions by citing
Page 307 and 308:
PROPERTY TAXES 277 cut your taxes b
Page 309 and 310:
SUMMARY 279 income or capital gains
Page 311 and 312:
LOWER-PRICED AREAS 281 specific opp
Page 313 and 314:
LOWER-PRICED AREAS 283 Some propert
Page 315 and 316:
EMERGING RETIREMENT/SECOND-HOME ARE
Page 317 and 318:
COMMERCIAL PROPERTIES 287 many pote
Page 319 and 320:
COMMERCIAL PROPERTIES 289 technique
Page 321 and 322:
SELF-STORAGE 291 Taco Bell, Rite Ai
Page 323 and 324:
Fort Worth, Texas Twenty-seven rent
Page 325 and 326:
DISCOUNTED PAPER 295 The county sta
Page 327 and 328:
SHOULD YOU FORM AN LLC? 297 title?
Page 329 and 330:
16 AN INCOME FOR LIFE No one knows
Page 331 and 332:
PERSONAL OPPORTUNITY 301 a 3 percen
Page 333 and 334:
PERSONAL OPPORTUNITY 303 At present
Page 335 and 336:
Creative class, 284 Creative financ
Page 337 and 338:
Relative prices/values, 74, 87-88 R
Page 339:
Real Estate THE BESTSELLING GUIDE T
show all

Investing In Real Estate

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?