In the Make Money series, renowned real estate investor and
bestselling author Gary W. Eldred shows you how to profit from the
safest, most reliable wealth builder in the world-real estate. With
coverage of all the fundamentals-from finding the right properties
to financing and managing them-Eldred shows you the ropes so you
don't have to learn important lessons the hard way. Unlike general
guides to investing in real estate, each title in the Make Money
series gives you the specialized expertise necessary to fully
profit from a select investment strategy.
Make Money with Condominiums and Townhouses shows homebuyers and
investors how to travel the road to real estate wealth-often with
little or nothing down. As an affordable investment vehicle,
condominiums and townhouses offer numerous advantages over other
types of rental property-they require relatively little day-to-day
management, they tend to attract more desirable tenants than other
rental properties, and they offer low risk and high returns. Full
of time-tested techniques and proven money-making strategies, Make
Money with Condominiums and Townhouses will show you how to:
* Relax while you put your money to work
* Find properties with high rates of appreciation
* Evaluate homeowner association finances
* Choose profitable locations
* Understand the changing demographics that may affect your
investment
* Finance your properties with little or no money down
* Achieve positive cash flow quickly
* Build up equity
* Understand by-laws, disclosure statements, and management
contracts
Autorentext
GARY W. ELDRED, PHD, has been involved in more than a hundred real estate projects as a buyer, seller, or investment consultant. Dr. Eldred has also taught numerous graduate courses in real estate at America's top universities, including Stanford, the University of Virginia, and the University of Illinois. He is also the author of Make Money with Small Income Properties and Make Money with Fixer-Uppers and Renovations, and coauthor of the bestseller Investing in Real Estate, Fourth Edition, all published by Wiley.
Klappentext
MAKE MONEY WITH CONDOMINIUMS AND TOWNHOUSES
In the Make Money series, renowned real estate investor and bestselling author Gary W. Eldred shows you how to profit from the safest, most reliable wealth builder in the world—real estate. With coverage of all the fundamentals—from finding the right properties to financing and managing them—Eldred shows you the ropes so you don't have to learn important lessons the hard way. Unlike general guides to investing in real estate, each title in the Make Money series gives you the specialized expertise necessary to fully profit from a select investment strategy.
Make Money with Condominiums and Townhouses shows homebuyers and investors how to travel the road to real estate wealth—often with little or nothing down. As an affordable investment vehicle, condominiums and townhouses offer numerous advantages over other types of rental property—they require relatively little day-to-day management, they tend to attract more desirable tenants than other rental properties, and they offer low risk and high returns. Full of time-tested techniques and proven money-making strategies, Make Money with Condominiums and Townhouses will show you how to:
- Relax while you put your money to work
- Find properties with high rates of appreciation
- Evaluate homeowner association finances
- Choose profitable locations
- Understand the changing demographics that may affect your investment
- Finance your properties with little or no money down
- Achieve positive cash flow quickly
- Build up equity
- Understand by-laws, disclosure statements, and management contracts
Zusammenfassung
In the Make Money series, renowned real estate investor and bestselling author Gary W. Eldred shows you how to profit from the safest, most reliable wealth builder in the world-real estate. With coverage of all the fundamentals-from finding the right properties to financing and managing them-Eldred shows you the ropes so you don't have to learn important lessons the hard way. Unlike general guides to investing in real estate, each title in the Make Money series gives you the specialized expertise necessary to fully profit from a select investment strategy.
Make Money with Condominiums and Townhouses shows homebuyers and investors how to travel the road to real estate wealth-often with little or nothing down. As an affordable investment vehicle, condominiums and townhouses offer numerous advantages over other types of rental property-they require relatively little day-to-day management, they tend to attract more desirable tenants than other rental properties, and they offer low risk and high returns. Full of time-tested techniques and proven money-making strategies, Make Money with Condominiums and Townhouses will show you how to:
* Relax while you put your money to work
* Find properties with high rates of appreciation
* Evaluate homeowner association finances
* Choose profitable locations
* Understand the changing demographics that may affect your investment
* Finance your properties with little or no money down
* Achieve positive cash flow quickly
* Build up equity
* Understand by-laws, disclosure statements, and management contracts
Inhalt
1. The Lazy Investor's Way to Wealth.
Condominiums Attract Better Tenants.
Why Condos Attract Better Tenants.
The One Easy Test: Who's Moving In, Who's Moving Out.
Your Procedures Count, Too!
Can Investors (Lazy or Not) Really Build Wealth with Condos and Townhouses?
Why Such Neglect?
How You Will Profit with Condos.
Appreciation.
The Historical Record.
What Does the Future Hold?
Summing Up.
2. Bulls, Bears, and Cash Cows.
The Mortgage Paydown.
Wealth without Appreciation.
Add to Your Principal Payments.
Certainty over Uncertainty.
Plan Your Wealth Building: Stocks versus Condos.
Cash Flow.
Condo Investors Earn More Cash Flow.
How to Jump the Hurdle of Negative Cash Flows.
Shelter Your Cash from the IRS.
Depreciation.
Tax-Free Exchanges.
Homeowners Receive Tax-Free Gains.
Gain Tax-Free Cash with a Cash-Out Refinance.
Summing Up.
3. Get to Know the Development.
Condo Communities Appeal to Buyers of All Incomes.
Key Sources of Satisfaction and Dissatisfaction.
Features and Price.
Your Best Opportunity.
Resale Potential.
Good Buy.
No Simple Rules.
Why Stress This Point?
The HOA.
The Organizational Structure.
The Board of Directors.
Management.
Committees.
Attorney and Auditor.
4. Do the HOA Finances Look Good?
Undisclosed Leases.
Sweetheart Contracts.
Understated HOA Fees.
The Budget.
Special Assessments.
Mandatory Payment.
I Don't Care! I'm Not Paying.
HOA Boards Must Follow Specified Procedures and Forms.
Your Financial Due Diligence: Summing Up.
How Much Insurance?
The Lesson of the Oakland-Berkeley Firestorm.
Any Lawsuits?
HOA as Plaintiff.
HOA as Defendant.
Be Wary of HOAs in Litigation.
5. What Do Condo Residents Say?
What Residents Say about Their Condos/ Townhouses.
Overall Satisfaction.
Wise Investors Pay Attention to the Negatives (and Po…