Real Estate and Wealth: Investing in the American Dream

Real Estate and Wealth: Investing in the American Dream

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Overview

Featuring tips on how to successfully invest in real estate, this reference offers advice on finding real-estate deals, financially backing an investment, and getting the most equity out of a property. This guide gives a clear understanding of the investment process, showcasing how to find the best properties with the most potential income for both the long and short term and how to financially plan for these investments. Including techniques that help evaluate risk and return, this resource counsels buyers who are ready to use real estate specifically for building wealth or as a career opportunity.

Product Details

ISBN-13: 9780976773542
Publisher: Amber Communications Group, Inc.
Publication date: 03/02/2014
Edition description: Revised ed.
Pages: 192
Product dimensions: 6.00(w) x 9.00(h) x 0.41(d)

About the Author

Sonia L. Booker, MBA, is a licensed insurance and mortgage broker and the cofounder of Intown Condos and Lofts. She lives in Atlanta, Georgia. Herman J. Russell is the founder of H. J. Russell & Company, a construction and real estate development company in Atlanta, Georgia.

Table of Contents


Acknowledgments     xi
Introduction     1
High Risk, High Reward!     5
So What Are You Going To Risk?     6
The Game Plan     8
Evaluating yourself     9
Game Plan Matrix     10
Getting Started: Understanding Real Estate Investing     15
Basic questions     16
Types of Investors     17
Quick Calculation     22
Go Slow-Research, Research, Research: How To Determine If It's A Good Deal     25
Market Research     26
Understanding Your Financing Options     26
Understanding the Value of the Area     28
Understanding the Sales In the Area     29
Locating Property: Whereto Locale the Deal of Lifetime     37
The Art of the Deal     38
Bird-dogs     39
Pre-Foreclosures     40
Foreclosures     43
Contract Assignments     44
Writing contracts     52
Rehabs: How To Rehab Effectively     57
Types of Rehabs     58
What to watch for when rehabbing     61
Lease Purchases: The Truth About "No Money Down"     67
Managing And Selling Your Own Properties:Everything You Need To Know     77
Managing Your Own Properties     80
Selling Your Own Properties     84
Management Companies     85
Financing Options: Where And How To Obtain Financing     87
Putting debt into perspective     87
Banks     88
Credit Unions     90
Mortgage Companies     91
Hard-Money Lenders     95
Additional Financing Information     99
Appendices List     107
Writing Your Investment Game Plan     109
Credit Reporting Companies     120
Step-by-Step Transaction     121
Tax Record     124
Comparative Marketing Analysis     126
Cost Estimator     127
Deal Analysis     129
Purchase Sale Agreement     131
Reviewing An Appraisal     134
Good Faith Estimate Truth in Lending Estimate     138
Partnership Agreements     144
Quitclaim Deed     148
Sample Postcards     150
Contractor's Contract     151
Settlement Statement (HUD 1)     153
Sample Lease     154
Move-in Checklist     163
Tracking Form     167
Net Worth Calculation     169
About the Author     171

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