The Complete Guide to Investing in Duplexes, Triplexes, Fourplexes, and Mobile Homes: What Smart Investors Need to Know Explained Simply

Overview

It is no secret that investing in real estate can significantly boost one's income. Many people begin by investing in single-family residential properties and work their way up to commercial properties, such as duplexes, triplexes, and quads. However, moving from one to the other may seem like a big leap. This new book, The Complete Guide to Investing in Duplexes, Triplexes, Fourplexes, and Mobile Homes, will make the transition effortless, as it explains everything you need to know in easy-to-understand language...

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Overview

It is no secret that investing in real estate can significantly boost one's income. Many people begin by investing in single-family residential properties and work their way up to commercial properties, such as duplexes, triplexes, and quads. However, moving from one to the other may seem like a big leap. This new book, The Complete Guide to Investing in Duplexes, Triplexes, Fourplexes, and Mobile Homes, will make the transition effortless, as it explains everything you need to know in easy-to-understand language and points out dozens of hints and suggestions.

By reading this new, extensively-researched book, you will become knowledgeable in all areas of commercial real estate investing, including cash flow, appreciation, tax benefits, equity buildup and leveraging, due diligence, gross rental income, vacancy loss, operating expenses, debt service, zoning, triple net leases, and contracts. You also will learn about the potential gains and losses, the consequences, loans, proven techniques, effective strategies, advantages and disadvantages of direct and indirect investing, and asset management techniques.

In addition, you will discover how to buy with no money down, how to get cash back at closing, how to eliminate your risk, how to decide whether to buy or hold, how to keep good tenants, how to determine and compare property value, how to structure deals, how to limit your personal liability, how to inspect a building, how to take out a mortgage, how to secure financing, how to negotiate, how to read economic cycles, how to avoid the common mistakes, and how to decipher tax issues. You will be prepared for restrictions pertaining to children, pets, parking, vehicles, boats, music, maintenance, club memberships, recreation facility leases, use of recreational facilities, and common areas.

Whether you are a new investor looking to get started or a seasoned veteran looking to enhance your portfolio, The Complete Guide to Investing in Duplexes, Triplexes, Fourplexes, and Mobile Homes will provide you with all the information you need to accomplish your investment goals.

Atlantic Publishing is a small, independent publishing company based in Ocala, Florida. Founded over twenty years ago in the company president’s garage, Atlantic Publishing has grown to become a renowned resource for non-fiction books. Today, over 450 titles are in print covering subjects such as small business, healthy living, management, finance, careers, and real estate. Atlantic Publishing prides itself on producing award winning, high-quality manuals that give readers up-to-date, pertinent information, real-world examples, and case studies with expert advice.  Every book has resources, contact information, and web sites of the products or companies discussed.

This Atlantic Publishing eBook was professionally written, edited, fact checked, proofed and designed. The print version of this book is 288 pages and you receive exactly the same content. Over the years our books have won dozens of book awards for content, cover design and interior design including the prestigious Benjamin Franklin award for excellence in publishing. We are proud of the high quality of our books and hope you will enjoy this eBook version.

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Product Details

  • ISBN-13: 9781601382061
  • Publisher: Atlantic Publishing Group Inc.
  • Publication date: 9/1/2008
  • Pages: 288
  • Product dimensions: 6.00 (w) x 8.90 (h) x 0.90 (d)

Table of Contents

Introduction 11

How to Use This Book 13

Study, Reflect, and Act 14

Part I Real Estate As An Investment 17

Chapter 1 Why Real Estate Beats Other Investments 19

Investing in Real Estate Means Owning Your Own Business 22

Benefits of Multiunit Residences and Mobile Homes 25

This Is Not a Get-Rich-Quick Scheme 28

Chapter 2 The Components of Return on Investment 31

Cash Flow 32

Appreciation 35

Equity Growth Through Loan Reduction 39

Tax Benefits 39

Chapter 3 Protect Your Personal Assets 47

Choose the Right Entity 48

Advanced Asset Protection 51

Chapter 4 Assemble Your Team of Experts 53

How a Real Estate Agent is Key 54

How a Real Estate Attorney Watches Your Back 57

How a Tax Advisor Can Keep Money in Your Pocket 59

How an Insurance Agent Can Help You Focus and Leverage 60

Optional Members of the Team 62

Chapter 5 Make a Plan 67

Determine Your Financial Goals 68

Get Started 73

Part II Buying, Financing, and Selling Investment Real Estate 75

Chapter 6 Finding Property 77

Invest Near or Far? 77

Study Your Market 78

Narrow Down the Target Areas 80

Bargains (Practically) for the Taking 81

Networks 82

Bad Figures = No Deal 82

Chapter 7 Financing the Purchase 85

The Power of Leveraging 85

How Much to Finance 86

Borrowing Money Costs Money 90

Conventional Lenders as Sources 92

The Government as a Source 93

Assumable Loans as a Source 94

Private Financing as a Source 95

Buying With No Money Down 99

When Cash is King 100

Chapter 8 Do Your Due Diligence 103

Precontract Due Diligence 104

Postcontract Due Diligence 107

Final Words on Due Diligence 112

Chapter 9 Are Fixer-Uppers for You? 115

Types of Fixer-UpperProperties 116

Keep Your Head Above Water 125

Inspect, Then Project 125

Haggle, But be Prepared to Walk 126

Avoid Over-Renovating 127

Seller Financing 127

Do it Yourself or Hire Help? 128

If Fixer-Uppers are Not For You 130

Chapter 10 Government Programs for Property Rehabilitation 133

HUD/FHA Rehabilitation Programs 134

Other Federal Programs 139

State, County, Local, and Community-Based Programs 140

Chapter 11 Mobile Homes and Mobile-Home Parks 143

The Changed Face of Mobile Homes 144

Advantages of Investing in Mobile Homes 147

Mobile-Home Parks 151

Benefits of Owning a Mobile-Home Park 154

Financing the Purchase 159

Challenges 161

The Future 164

Chapter 12 Effective Negotiation 167

Superior Knowledge 168

People Skills 168

Changes Backed by Reasons 169

Negotiation Tactics & Techniques 170

Chapter 13 Common Mistakes to Avoid 177

Ignoring the Calculator 177

Not Knowing Area Rents 178

Choosing an Inadequate Form of Ownership 178

Overpaying 179

Buying Too Much Property 180

Buying Far From Home 181

Emotional Attachment 181

Unrealistic Expectations 182

Over-Financing 182

Other Financing Pitfalls 183

Skipping the Property Inspection 184

Tenancy Errors 184

Poor Maintenance 188

Chapter 14 How and When to Sell 189

Reasons to Sell 190

Methods of Selling 191

Tax Consequences 198

Prepare the Property for Sale 200

Marketing the Property 201

Part III Managing Tenants and Properties 203

Chapter 15 Know the Law 205

Federal Fair Housing Act 205

Your State Laws 206

Your Local Laws 207

Chapter 16 Selecting Your Tenants 209

Marketing Rental Property 211

Showing the Property 211

Screening Prospective Tenants 213

Chapter 17 The Lease as Your Essential Tool 223

Self-Explanatory Terms in a Lease 224

Other Terms in a Lease 225

Final Words 236

Chapter 18 Manage Your Tenants 237

Money, Property, and Tenants 237

Existing Tenants 238

Problem Solving 239

Increasing the Rent 242

When Tenants Leave 243

Fairness Goes Far 245

Chapter 19 The Management of Properties 247

Routine Maintenance 247

Improved Cash Flow = Increased Value 250

Keep Pristine Records 256

Chapter 20 Self-Manage or Hire Management? 257

Self-Managing Your Property 259

Professional Property Managers 260

Part IV Beyond Rental Property 265

Chapter 21 Navigating in Governmental Waters 267

The Triple Whammy 267

Challenges Encountered by Owners 269

Staying Afloat 273

Conclusion 275

What You Have Learned So Far 275

Ready, Set, Go 280

Bibliography 283

About the Author 285

Index 287

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Sort by: Showing all of 5 Customer Reviews
  • Posted August 7, 2009

    Helpful Read

    This book is definitely helpful for someone who has already explored the possibility of investing in different types of properties. The chapters are well outlined and cover all aspects of the investing process, from the role of the realtor to dealing with fixer-uppers to dealing with taxes and tenants. The case-studies throughout the book also put a real-life spin on many of the more complicated concepts.

    The whole process of investing is shown in a positive manner throughout this book, however, it didn't give off a "get rich quick" vibe -there are no magic secrets revealed here. If you're someone who has already done some research and are ready for a book to help you through the investment property, this is definitely a good resource as you can jump back and forth and touch up on subjects you might need some extra guidance on. I'd also recommend this book for someone who is interested in the possibility of investing but who has at least some knowledge of the real estate world. I wouldn't recommend this book who has no idea about real estate.

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  • Posted August 3, 2009

    Great Real Estate Investment Manual!

    Now, more than ever, investors are entering transactions armed with as much information as possible. Investing in Duplexes Triplexes, Fourplexes, and Mobile Homes by E. E. Mazier is the perfect tutorial for any one contemplating real estate investment.

    This easy to read manual takes you from the contemplation stage to the end of the real estate investment process, whether that end be to flip, fee-manage or self-manage your investment. Mazier offers sound, practical advice. Some elements may seem to be common sense, but when grouped into the complete real estate investment process you recognize that all the pieces are essential for a good investment.

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  • Posted July 6, 2009

    more from this reviewer

    Great for Beginners

    For someone who's heard that real estate is a great investment, but is worried about the pit falls, this is a great book. It addresses each concern with factual information that's relevant, explained in simple terms, and walks the reader step-by-step through understanding the pros and cons of what they're embarking on.

    The unique approach adds a quality and depth to the subject as well. Looking at real estate investing as a business instead of a hobby, or something to "do on the side," raises the bar. The book not only addresses how to evaluate properties, but it also takes a look at how to protect your personal assets through various incorporations. While each transaction is different, the education and information provided in this book gives the reader a valuable sense of comfort and understanding that opens the door for taking action. And it's the action that creates the results.

    If there is a pitfall, it is that some of the information is geared more for an east coast audience than a west coast audience in terms of whether an attorney or an escrow officer will handle the transaction between the offer and the closing. However, this is minor and handled quite well with advice and perspective that is relevant for both audiences. This is one book I'll keep in my library, referring back to it and sharing it with friends who're venturing into real estate investing.

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  • Posted May 12, 2009

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    Very Useful for the Potential Investor

    Prompted by the current buyer's market, I've been considering investing in a multi-family home to build equity and make some cash. I picked up The Complete Guide to Investing in Duplexes, Triplexes, Fourplexes, and Mobile Homes hoping for some tips and information to get me started on the road to financial independence. Not only is this book full of expert advice, it also gives great reasons as to why real estate is ultimately a sound investment, no matter what the current market.
    While E.E. Mazier's writing style is a bit dry, this book is a veritable wealth of useful information. I found the basic business knowledge and because I'm a "numbers" person, I found Mazier's many formulas to be quite useful. For example, there are general formulas for figuring a home's depreciation, which is especially concerning in the current housing market.
    I found this book to be quite current. Even with the recent turn of events with the mortgage and housing industry, Mazier is clearly knowledgeable in this field and addresses the downturn in the market. I would highly recommend anyone interested in real estate investment pick this book up.

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  • Posted May 11, 2009

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    Review of E.E. Mazier's "The Complete Guide to Investing in Duplexes, Triplexes, Fourplexes and Mobile Homes"

    E.E. Mazier starts "The Complete Guide to Investing in Duplexes, Triplexes, Fourplexes and Mobile Homes" by addressing the recent downturn in the housing market. Mazier's contention is that investments in multi-unit properties like mobile homes and duplexes are profitable in the long term regardless of economic conditions. This thesis may seem like a bold contention given the housing market's collapse since 2007 but Mazier backs up this bravado with great tips on real estate investments.

    "The Complete Guide" is broken into three easy-to-read parts that cover the basics of real estate investing, the mechanics of financing and how to handle investments after purchase. Mazier covers well-worn territory including asset protection, property expenses and the need for a reliable real estate agent in the first section. The meat of "The Complete Guide" comes with Parts II and III as Mazier uses her experience in real estate to uncover overlooked areas of investment.

    Mazier explores the upside of investing in fixer-uppers in Chapter Nine including the importance of finding distressed owners instead of damaged homes. Chapter 11 disabuses readers of negative perceptions about mobile homes by citing improvement in mobile home communities and unit construction. These sections would be completely useless to real estate investors without the final section dealing with managing tenants and properties. Mazier's "The Complete Guide" encourages investors to manage properties with tenants, state agencies and other parties in mind instead of their financial bottom line.

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