The Part-Time Real Estate Investor: How to Generate Huge Profits While Keeping Your Day Job

Dan W. Blacharski

Atlantic Publishing Company, 2007 - Business & Economics - 288 pages

Fortune Magazine states, 97 out of 100 self-made millionaires made their fortunes through Real Estate Investing, and the next 10 years will be a Golden Era for the informed Real Estate Investor. If you are saying to yourself that sounds great but I cannot quit my job and begin investing full time. This new book is for you! You will learn how to become a skilled professional Real Estate Investor who can generate thousands, and yes, even millions of dollars, in your spare time. Unlike starting a retail business where you need to be there every day, you can work a full-time job and invest in real estate on the side, and reap huge profits. The key is time.

The real estate investing business is a perfect part-time business because real estate is a business where the assets appreciate and cash flow is generated even when you are absent. This book will give you the information and advice necessary to buy, finance, and successfully manage a small number of positive cash flow producing properties in your spare time. Investing in real estate is one of the safest and smartest investments you can make.

Real estate appreciates at a rate far greater than the rate of inflation, builds equity, provides a steady return on investment, provides cash flow, and can offer substantial tax benefits. With the sound guidance in this book you will be able to retire comfortably and EARLY!

A sampling of what s covered in this encyclopedic book includes: how to find below-market deals, investing with little or no down payment, seller financing, foreclosures and REOs, investment property, negotiating, purchase offers, managing rental property, flipping, auctions, tax sales, financing, mortgage terms, agents, cash flow, inspections, contracts, tenants, lease agreements, insurance, taxes and accounting, escrow, essential mathematical calculations, sample forms, development, taxation, and exchange rules.

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.

-- (1/21/2016 12:00:00 AM)"

Contents

• INTRODUCTION: 17
• Why is it a Good Investment?: 18
• Uncle Sam Loves Homeowners: 19
• Philosophy of Real Estate Investing: 20
• Foreign Markets: 21
• Lets Start Making Money: 22
• FINDING YOUR STRATEGY: 23
• IS Wealth Only for Other People?: 24
• The Myth of Security: 25
• Think Like a Person of Wealth: 26
• Failure is Not a Bad Thing: 27
• REAL ESTATE AS A BUSINESS: 29
• Set Up a Home Office: 31
• Goals and Milestones: 32
• No Man is an IslandHow to Get Others to Help You: 33
• Become a Real Estate Expert: 34
• GET RICH QUICK: 37
• Due Diligence: 38
• Whats Not Possible: 39
• Whats Not Very Bloody Likely: 40
• Real Estate Myths: 41
• Is There a Real Estate Bubble?: 42
• THE MARKETS: 45
• Bread and Butter Properties: 47
• The Best and Worst Cities for Real Estate Investment: 48
• Why Slow Growth Communities are Better Investments: 49
• BUYING YOUR FIRST HOME: 53
• First Investment: 54
• First Deal Profits: 56
• Common First Deal Mistakes: 59
• BAD CREDIT: 61
• You Can Buy with Bad Credit but Should You?: 62
• Improving Your Credit: 63
• Subprime Lenders: 64
• Alternative Financing: 65
• Bad Credit is Less Relevant if Youre Buying a House Nobody Wants: 66
• LAND CONTRACT AND LEASE PURCHASES: 69
• Selling on Land Contract: 72
• The Lease Purchase: 74
• BUYING INVESTMENT PROPERTY WITH NO MONEY DOWN: 77
• Land Contract or Wraparound Mortgage: 78
• Lease Purchase: 79
• Leverage Credit Cards: 80
• Leverage Existing Equity in Other Homes: 81
• Ask for the Best Deal: 82
• FORECLOSURES AND REO PROPERTIES: 83
• The Foreclosure Process: 84
• Pennies on The Dollar: 85
• How to Find Foreclosures and REOs: 86
• Cash Cash and Cash: 87
• How Much to Bid?: 88
• PLAYING THE GOOD GUY: 91
• The Foreclosure Scenario: 92
• PreForeclosure: 93
• What the Homeowner Wants From You: 94
• Variations on the Good Guy Deal: 95
• Buying a House with Multiple Existing Liens: 96
• THE FIXERUPPER OPPORTUNITY: 99
• What is a FixerUpper?: 101
• An Ugly House in a Good Neighborhood or an Ugly House in an Ugly Neighborhood: 102
• FixerUppers are Easy to Buy with Bad Credit: 103
• FixerUppers Give you More Negotiating Power: 104
• HUD HOMES: 107
• What HUD Does: 108
• Red Tape and Bureaucracy: 109
• A Good Source of Fixer Property Deals: 111
• TAX SALES: 113
• A Tax Lien Certificate: 114
• The Process: 116
• You Win Either Way: 117
• Why Do Country Governments Do This?: 118
• BLIGHTED AREAS AND VACANT PROPERTIES: 119
• A Word About Security: 121
• We Buy Ugly Houses: 123
• INDIRECT REAL ESTATE INVESTMENTS: 129
• Buying Private Mortgage Contracts: 131
• Selling Purchase Contracts: 132
• NEGOTIATING TACTICS: 135
• Look for Concessions: 136
• Understand the Other Guys Needs: 137
• Who Has the Most Flexibility?: 138
• Always Be Willing to Walk Away: 139
• SUBJECT TO CLAUSE: 141
• Selling on Subjectto: 142
• SubjectTo Versus Land Contract: 143
• Why Would a Seller Enter Into a SubjectTo Contract?: 144
• What Can You Do With the Property Once You Have It?: 145
• The Quit Claim Deed: 146
• OTHER TYPES OF CREATIVE FINANCING: 149
• The Fallacy of Own It Free and Clear: 150
• Cash Back At Closing: 151
• Selling At Above Market: 152
• CONVENTIONAL MORTGAGES: 159
• Mortgage Rates: 161
• Adjustable and Fixed: 162
• Bad Credit Conventional Mortgages: 163
• Equity and Mortgages: 164
• TITLES AND PAPERWORK: 167
• What Does the Lender Want You to Have?: 168
• Private Mortgage Insurance: 169
• Staying on the Right Side of the Law: 170
• What is a Mortgage?: 171
• Rental and Lease Agreements: 172
• FOR SALE BY OWNER: 175
• Selling it Yourself: 176
• Buying FSBOs as Opposed to Listed Properties: 177
• Working with a Real Estate Agent: 179
• Being a Real Estate Agent Yourself: 180
• GETTING THE MOST OUT OF YOUR TAXED: 185
• Capital Gains Tax: 186
• Capital Gains Tax Exclusion: 187
• Tax Credits: 188
• Depreciation: 189
• Deductions: 190
• IMPROVING YOUR PROPERTYS VALUE: 191
• Thorough Cleaning: 192
• Dont Be Afraid of a Property that Needs Work: 193
• Mold: 195
• Dont Go Overboard: 196
• PREPURCHASE INSPECTION: 199
• A Few Things to Look For: 200
• Hiring an Inspector: 201
• Estimating the Propertys Value: 202
• Seller Disclosures: 203
• MORE IS BETTER SNOWBALLING YOUR REAL ESTATE INVESTMENTS: 207
• Leverage Your Investment: 208
• Always Be Open to New Deals: 210
• When is the Right Time to Start?: 211
• GETTING IN OVER YOUR HEAD: 213
• The PartTime Strategy: 215
• TIPS AND TECHNIQUES: 217
• Agent Prospecting and FSBOs: 218
• The Balloon Payment: 219
• Buying and Selling Land Contracts: 220
• Partners Versus Investors: 221
• Congratulations Youre a Real Estate Tycoon: 223
• GLOSSARY: 225
• AUTHOR BIOGRAPHY: 285
• INDEX: 286

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About the author

Dan Blacharski has been a professional writer and online entrepreneur for over 15 years, and is a graduate of the University of California, Santa Cruz. He has written eight books and ghost-written several others; has produced thousands of print and online features, articles, and columns; and has helped many Internet companies jump into the fray. A refugee from Silicon Valley, Dan was there during the âeoedotcom boom,âe witnessing first-hand the incredible rise and fall of countless empires, and gaining insight into what makes a new-era Internet company succeed or fail. He worked directly with many of these companies, helping them to refine their messaging. Currently, he is also a contributing analyst for Compass Intelligence, a virtual âeoethink tankâe that provides world-class market analytic research. Dan is listed in Marquisâe(tm) Whoâe(tm)s Who, and as a long-time industry observer and visionary, has often been at the forefront of new innovations in the area of Internet commerce, chronicling their creation, working with start-ups to make them happen, and getting an inside look into where those innovations will lead us in the future. One of Danâe(tm)s own entrepreneurial dotcom ventures is We Know The Answers http://www.weknowtheanswers.com, an advertiser supported online informational site. He currently lives in South Bend, Indiana with his lovely wife Charoenkwan, where they enjoy spending time renovating their 120-year-old Victorian home; but having never gotten quite used to the frigid Midwest, they spend their winters in Bangkok.

Bibliographic information

• Title: The Part-Time Real Estate Investor: How to Generate Huge Profits While Keeping Your Day Job
• Author: Dan W. Blacharski
• Edition: illustrated
• Publisher: Atlantic Publishing Company, 2007
• ISBN: 0910627029, 9780910627023
• Length: 288 pages
• Subjects: Business & Economics / Personal Finance / Investing; Business & Economics / Purchasing & Buying; Business & Economics / Real Estate / General