Building Real Estate Riches [NOOK Book]

Overview

Save money by finding and financing the right property



This step-by-step guide helps readers start investing in new homes to sell for profit, from finding the best property and planning the most cost-effective construction to selling quickly and profitably. Industry insider Chris Condon addresses the most critical step for investors--planning for resale through the entire process to maximize the number of ...

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Building Real Estate Riches

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Overview

Save money by finding and financing the right property



This step-by-step guide helps readers start investing in new homes to sell for profit, from finding the best property and planning the most cost-effective construction to selling quickly and profitably. Industry insider Chris Condon addresses the most critical step for investors--planning for resale through the entire process to maximize the number of potential buyers. He unearths the secrets to using innovative design and thorough planning to build a home that will be in demand--and that won't give all the savings to the builder. Offering expert guidance in budgeting, contracting, scheduling, project management, and problem solving,



Building Real Estate Riches:



  • Reveals how to get the maximum value out of a house with the least cost


  • Explains how to contract new homes that will appeal to new home buyers


  • Explores the strategies of successful builders and developers


  • Presents hidden cost-saving techniques that don't compromise quality


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Product Details

  • ISBN-13: 9780071454346
  • Publisher: McGraw-Hill Education
  • Publication date: 3/2/2004
  • Sold by: Barnes & Noble
  • Format: eBook
  • Edition number: 1
  • Pages: 224
  • File size: 2 MB

Meet the Author

Chris Condon is vice president of Mungo Homes, one of the nation's market leaders in home building. He has spent his whole career in construction and real estate investing. He lives in Irmo, South Carolina.

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Table of Contents

Preface vii
Acknowledgments ix
Introduction xi
Rental Investments xii
Get Started Today! xiii
1. The Equity Strategy 1
Steps to Building Equity 3
The Cash Flow Strategy 3
So Where Do You Start? 4
Be Prepared to Ride It Out 7
2. Location, Location, Location 9
3. Cheap Dirt, Dirt Cheap 13
Picking a Lot 13
Now Look Down 16
Other Considerations 19
A Checklist 22
4. A Good Foundation 27
Slabs 29
Crawl Spaces 29
Basements 29
The Cost Effective Choice 30
5. Choosing a Style 33
6. Size Matters 39
7. Pick a Plan 43
Off-the-Shelf Plans 45
Determine Your Needs 46
8. How Nice Is Too Nice? 51
Is It a Good Investment? 53
9. Will It Appraise? 57
10. Am I Normal? 61
11. Go Shopping 63
Take Good Notes 65
12. A Borrowed Idea Is a Good Idea 69
13. Pump Up the Volume 75
14. Where Do You Live? 79
Master Bedroom and Bathroom 79
Kitchen and Family Room 80
15. Value Engineering 83
What Is Value Engineering 84
Master List of Cost Savers 84
Choose a Cost Effective Style 114
16. Do It Yourself 117
Sweat Equity Work 118
Work You Can Do During Construction 118
17. Decorate for Resale 123
Inside the House 123
Outside Decorating 125
18. Rental Properties 127
What Makes a Good Rental House? 127
Who Rents, and Why? 128
Property Management 129
Cash Flow 129
Set Up an LLC 129
19. Who's Doing the Building? 131
Hiring a Builder 131
Acting as Your Own General Contractor 132
Hiring a Manager 134
Becoming a Builder 135
Let Someone Else Build It! 135
20. Contracting 137
Let the Fun Begin! 139
The Contract 140
Insurance 143
Subcontractor and Contractor Payments 144
Lien Waivers 144
Volume Is King 145
21. Financing 147
Construction/Permanent Loan 147
Construction Loan 148
Permanent Mortgage 151
Home Equity Loan 152
Loan Terms that Can Cost Money 152
Look Competent 155
22. The Moment of Truth 157
Glossary of Terms 159
Index 169
About the Author 178
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