Retire Rich from Real Estate

Overview

Retire Rich from Real Estate teaches readers how to buy real estate that will build wealth over time and secure their retirement. It provides specific information on such matters as how to choose prime investors based on demographics; choose properties best for long-term investing; evaluate operating expenses and calculate cash flows; and, manage properties.

If you are worried about securing your financial future and are thinking about buying your first rental property, then ...

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Retire Rich from Real Estate

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Overview

Retire Rich from Real Estate teaches readers how to buy real estate that will build wealth over time and secure their retirement. It provides specific information on such matters as how to choose prime investors based on demographics; choose properties best for long-term investing; evaluate operating expenses and calculate cash flows; and, manage properties.

If you are worried about securing your financial future and are thinking about buying your first rental property, then this book is for you. By applying the simple techniques that Retire Rich from Real Estate teaches, you will ensure that you make the right decisions and guarantee that your investing experience will build wealth and secure your retirement.

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Product Details

  • ISBN-13: 9781572486461
  • Publisher: Sourcebooks, Incorporated
  • Publication date: 12/1/2007
  • Pages: 272
  • Product dimensions: 15.10 (w) x 8.50 (h) x 0.90 (d)

Meet the Author

Marc W. Andersen and his wife have been actively buying, renovating, building and managing rental property over the last 20 years. He holds a BA from Virginia Tech and a PhD from the University of Virginia. He provides a heavily researched book coupled with real life experience. He lives in Raleigh, North Carolina.
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Table of Contents

?Introduction -

Chapter One: To Buy or Not to Buy
-The Benefits-Making Money Takes Time
- Cash Flow
-Appreciation
-Leverage
- Amortization
- Tax Advantages
- Time is Money
-Just the Facts-The POMS Survey
- The Costs-You Must Be Committed
- The POMS in Perspective-Why Buy At All?
- Summary

Chapter Two: Demographics 101 -
-Who Are Your Tenants and Where Do They Live?
- Future Demand for Rental Housing
- The Shortage of Affordable Housing
- Summary

Chapter Three: Looking for Properties -
- Working with Realtors and the MLS
- Working with a Buyer's Agent
- Newspaper Ads
- Driving Around
- Tax Records and Mailings
- Using Seller's Agents
- Real Estate Investment Clubs
- Summary

Chapter Four: The Preferred Property Types
-Single-Family Homes
- Multifamily Dwellings
- Townhomes, Condominiums, and Mobile Homes
- Student Rentals
- Rooming Houses
- Building Styles
- Single-Level, Two-Story, Side-by-Side, and Over-Under Flats
- Utilities, Bathrooms, and Parking
- Converting Single-Family to Multifamily
-New Construction
-Modular Housing
-Summary

Chapter Five: Choosing a Location -
-The Fundamentals
- Cash Flow versus Location
- Choosing Location Using GRMs
- GRM Summary
- Suburban Sprawl
- Main Street or Dead-End Streets?
- Student Housing
- Appreciation and Growth Trends
-Investing in High-Priced Markets
- Summary

Chapter Six: Determining Cash Flow -
- Myth versus Reality
- Determining Operating Expenses
- Calculating Cash Flow
- Effect of Interest Rates on Cash Flow
- GRMs to Predict Cash Flow
- Cash Flow Calculators
-Determine the Market Rents
-Appreciation Makes Up for Negative Cash Flow
-Summary

Chapter Seven: Valuing Property -
- Methods for Valuing Property
- The Comparative Sales Approach
-The Capitalization Rate Approach-"Cap Rates"
- Stated Cap Rates
- Understanding Cap Rates
- Cap Rates and Short-Term Financing
- Future Trends
-Using GRMs to Predict Value
- Replacement Cost Approach
- Putting it All Together
- The Final Check-Is the Property Likely to Appreciate?
- Real Estate Bubbles
- Summary

Chapter Eight: Financing Your Investment -
- Fixed-Rate, Adjustable-Rate, and Interest-Only Loans
- Understanding Amortization
- The Five Rules of Financing Your Properties
- The Low Down on No-Down Deals
- Cash-Out Refinancing
- Financing for a Fixer-Upper
- Money Back at Closing
- Owners versus Non-Owner Occupied Financing
-Commercial Financing
- Summary

Chapter Nine: Making the Offer and Taking Over -
- Pre-Offer Inspections
- Make-Ready Cost Estimates
-Be Prepared to Walk
-Offer to Purchase Forms
- The Offer
-Disclosure Forms
- Earnest Money
-Be Careful of Contract Exclusions
- Closing the Deal
- Final Due Diligence and Taking Over
- Post-Offer Inspections
-The Tenants
-Identifying Opportunities and Avoiding Problem Properties
- Summary

Chapter Ten: Advertising and Renting -
- "For Rent" Signs
- Using a Realtor
-Internet Advertising
- Student Rentals
- Advertise at Market Rent
- Rent Concessions and Keeping Tenants
- Summary

Chapter Eleven: Managing Your Investments -
-Should I Manage Myself?
- Screening Tenants
- Prior References
- Problem Tenants
-Pets
- The Right Lease
-Enforce It
- The Three Rules of Lease Enforcement
-Repairs and Maintenance
-Handling Minor Repairs
-Painting
-Bigger Jobs
- What is Really Necessary?
- Appliances: Used or New?
-Landscaping
- Renting to Students
- Students and Leases
- Summary

Chapter Twelve: Insurance -
-Property and Casualty Insurance
- Policy Deductibles
- Personal Property
- General Liability Insurance
- Business Owners Package
- Reducing the Risks of Lawsuits
- Mold
-Claims Histories and the CLUE Report
-Summary

Chapter Thirteen: Taxes and Rental Property -
-Historical Overview
-Passive and Non-Passive Income and Losses
-The $25,000 Exclusion Rule
-Depreciation
-Repairs and Improvements
- Other Expenses
-Schedule E
- Lose the Paper and Calculator
-Summary

Chapter Fourteen: Selling Your Property -
- Preparing for the Sale
- Selling as Owner-Occupied Dwellings
-Selling as Investment Properties
-Pricing, FSBOs, and Realtors
- Depreciation Recapture
- Determining your Taxable Gain
- 1031 Tax Exchanges
- Summary

Chapter Fifteen: Bookkeeping and Computers -
- Organizing
- One Bank Account
- Financial Computer Programs
- Summary

Glossary -

Appendix A: Total Operating Expenses -

Appendix B: Maintenance, Repairs, and Reserves -

Appendix C: Typical Computer-Generated Cash Flow (Report for Duplex) -

Appendix D: Inspection Report -

Appendix E: Maintenance Cost as a Percentage of Income -

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