Building Wealth One House at a Time: Making it Big on Little Deals [NOOK Book]

Overview

A realistic program for buying your first income property today--and becoming financially independent tomorrow

Houses can make you more money than any other investment--safe money, dependable money, lifetime money--and Building Wealth One House at a Time shows you how to get started. Steering clear of pie-in-the-sky ideas and unrealistic techniques, this no-nonsense guide outlines a sensible, step-by-step program you can use to buy one, then ten, then unlimited houses--and ...

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Building Wealth One House at a Time: Making it Big on Little Deals

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Overview

A realistic program for buying your first income property today--and becoming financially independent tomorrow

Houses can make you more money than any other investment--safe money, dependable money, lifetime money--and Building Wealth One House at a Time shows you how to get started. Steering clear of pie-in-the-sky ideas and unrealistic techniques, this no-nonsense guide outlines a sensible, step-by-step program you can use to buy one, then ten, then unlimited houses--and provide yourself with debt-free cash flow for life.    

From finding the right house and seller to using Schaub's "10/10/10 Rule" to ensure you make money on each purchase, Building Wealth One House at a Time will give you the knowledge you need to:

  • Target and buy houses that good renters want, then own a dozen or more free and clear within a few years
  • Get deep discounts by buying houses in pre-foreclosure or foreclosure
  • Diversify your portfolio, relying on some houses for cash flow and others for appreciation

By this time next month, you could own your first income property. But it's up to you to make the first move. Building Wealth One House at a Time will show you how to make your real estate dream a reality, by getting in on one of today's most low-risk, high-return investment opportunities--owning houses.

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Editorial Reviews

Associated Press
The New York Post

IF you’re a home buyer, contracts can be one of the most difficult things understand. One source to understand.

One source of great tips is actually an investment book, John Schaub’s "Building Wealth One House at a Time," coming out this month from McGraw-Hill.

Here are five of our favorite tips from the book:

1. Offer to close quickly.

You can cut your down payment this way, Schuab notes. While this won’t work on a New York City co-op, it might on a house. "The only reason to make a large down payment is to convince the seller that you are a serious buyer," Schaub writes. "You can get the seller’s attention with less money by making an offer that closes in a week."

2. Take whatever time you need to read the contract.

If you’ve spent dozens of hours finding a good deal, why blow it by skipping a potentially important clause in the contract?

3. If an inspection reveals problems, the buyer can make repairs; but it will be faster for the seller to give the buyer a financial credit toward those repairs.

4. Keep the contract the sellers filled out.

If you have a choice of copies, you want the one they’ve written on. Schaub notes "it would be hard for them to claim that they did not understand the contract if they actually filled it out."

5. Never go to court to enforce a contract.

If the sellers back out, you can stick it to them, but you shouldn’t, Schaub says. "It is easier and more profitable," he writes "to find another good deal."

Associated Press Staff
The New York Post

IF you’re a home buyer, contracts can be one of the most difficult things understand. One source to understand.

One source of great tips is actually an investment book, John Schaub’s "Building Wealth One House at a Time," coming out this month from McGraw-Hill.

Here are five of our favorite tips from the book:

1. Offer to close quickly.

You can cut your down payment this way, Schuab notes. While this won’t work on a New York City co-op, it might on a house. "The only reason to make a large down payment is to convince the seller that you are a serious buyer," Schaub writes. "You can get the seller’s attention with less money by making an offer that closes in a week."

2. Take whatever time you need to read the contract.

If you’ve spent dozens of hours finding a good deal, why blow it by skipping a potentially important clause in the contract?

3. If an inspection reveals problems, the buyer can make repairs; but it will be faster for the seller to give the buyer a financial credit toward those repairs.

4. Keep the contract the sellers filled out.

If you have a choice of copies, you want the one they’ve written on. Schaub notes "it would be hard for them to claim that they did not understand the contract if they actually filled it out."

5. Never go to court to enforce a contract.

If the sellers back out, you can stick it to them, but you shouldn’t, Schaub says. "It is easier and more profitable," he writes "to find another good deal."

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Product Details

  • ISBN-13: 9780071466493
  • Publisher: McGraw-Hill Education
  • Publication date: 12/10/2004
  • Sold by: Barnes & Noble
  • Format: eBook
  • Edition number: 1
  • Pages: 272
  • Sales rank: 252,658
  • File size: 2 MB

Meet the Author

John W. Schaub (Sarasota, FL) is a nationally recognized real estate investing expert. He teaches his program for buying and managing single-family houses through seminars and home-study courses and writes the newsletter Strategies and Solutions.

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Table of Contents

1 How buying one house at a time can make you wealthy 1
2 Buying the right house 16
3 Finding good deals 27
4 Knowing how you are going to pay for a house before you make an offer 35
5 Making the offer 54
6 Borrowing to increase your profits 64
7 Understanding and using real estate contracts 83
8 Secrets of professional negotiators 95
9 Buying and selling with agents 108
10 Buying and selling houses to produce cash flow - now 115
11 Selling on lease/options to generate the largest profits 124
12 Finding and buying preforeclosures and foreclosures 133
13 Attracting and training long-term, low-maintenance tenants 146
14 Knowing when to sell and how to sell 170
15 Eight steps to quitting your day job 176
16 How to own the house of your dreams free and clear 187
17 Take charge of your retirement income 200
18 Getting your houses free and clear 205
19 Buying and owning out-of-town property 212
20 Making it big on little deals 219
21 Habitat for Humanity : helping others build wealth, one house at a time 223
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Sort by: Showing all of 4 Customer Reviews
  • Anonymous

    Posted April 9, 2005

    Great real estate book

    Excellent book. As a seasoned investor with over 25 houses and having read over 15 real estate books in the last two years, this was the best. The principles in this book can easily be applied to the normal person wanting to buy 1 house a year...or 1 a month. If you want to go from working for someone else... to working for yourself, buy this book. If you are just starting out or want to learn more, this is definately the book to read. Good 'practical' sense approach to creating wealth.

    1 out of 1 people found this review helpful.

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    Posted August 30, 2010

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