The Part-Time Real Estate Investor: How to Generate Huge Profits While Keeping Your Day JobFortune 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) |
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Contents
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 |
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37 | |
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40 | |
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42 | |
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 |
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 |
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Part-Time Real Estate Investor: How to Generate Huge Profits While Keeping ... Atlantic Publishing Group No preview available - 2015 |
Common terms and phrases
able assets auction bad credit balloon bank bankers borrower borrower’s broker building buy a house buyer capital gains capital gains tax cash flow charge clause closing costs creative financing debt default dollars equity escrow ESTATE INVESTOR TIP expenses Fannie Mae fixer-upper foreclosed foreclosure Freddie Mac funds going hard money lender homeowner income individual interest rate investment land contract landlord lease leverage loan look month monthly payments mortgage broker negotiate neighborhood offer option owner ownership PART-TIME REAL ESTATE party percent percentage piece of property piece of real portfolio possible pre-foreclosure private mortgage problems profit property’s purchase real estate agent real estate bubbles real estate business REAL ESTATE INVESTOR REIT renovation rent repairs risk seller strategy subject-to tax lien tenant there’s things transaction underlying mortgage usually what’s you’re
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