Start making money today--with the ultimate guide for first-time investors
No matter what the market does, real estate stilloffers plenty of money-making opportunities. In this new edition of The Beginner's Guide to Real Estate Investing, Gary W. Eldred presents the toolsand knowledge new investors need to get started profitably. Packed with smart money-making strategies and real-life stories from successful investors, this edition also covers the latest information on financing, foreclosures, cash flow, and much more. You'll not only master the basics of investing, but also discover specialized techniques that the pros rely on to grow their long-term wealth. Concise yet comprehensive, this practical guide shows you how to:
* Find great deals on properties with big potential
* Get started with low- or no-down payment financing
* Utilize creative financing options and otherpeople's money
* Buy low-cost foreclosures and REOs
* Make value-adding improvements to any property
* Craft winning offers and negotiate like a pro
* Manage rental properties hassle-free
* Flip investment properties for fast profit
In addition, Eldred shows you how to tailor your investment strategy to make money almost anywhere, in any type of market. With proven techniques, timeless principles, and totally up-to-date information, The Beginner's Guide to Real Estate Investing, Second Edition is the perfect place to start building a prosperous future--today.
Autorentext
GARY W. ELDRED, PHD, has invested successfully in real estate for more than twenty-five years and has served on the graduate business school faculty at Stanford University and the University of Virginia. He cohosts a nationally broadcast radio show on investing and frequently makes presentations at seminars throughout North America. He is also the author of 106 Mortgage Secrets All Borrowers Must LearnBut Lenders Don't Tell and Trump University Real Estate 101, both from Wiley.
Zusammenfassung
Start making money todaywith the ultimate guide for first-time investors
No matter what the market does, real estate stilloffers plenty of money-making opportunities. In this new edition of The Beginner's Guide to Real Estate Investing, Gary W. Eldred presents the toolsand knowledge new investors need to get started profitably. Packed with smart money-making strategies and real-life stories from successful investors, this edition also covers the latest information on financing, foreclosures, cash flow, and much more. You'll not only master the basics of investing, but also discover specialized techniques that the pros rely on to grow their long-term wealth. Concise yet comprehensive, this practical guide shows you how to:
- Find great deals on properties with big potential
- Get started with low- or no-down payment financing
- Utilize creative financing options and otherpeople's money
- Buy low-cost foreclosures and REOs
- Make value-adding improvements to any property
- Craft winning offers and negotiate like a pro
- Manage rental properties hassle-free
- Flip investment properties for fast profit
In addition, Eldred shows you how to tailor your investment strategy to make money almost anywhere, in any type of market. With proven techniques, timeless principles, and totally up-to-date information, The Beginner's Guide to Real Estate Investing, Second Edition is the perfect place to start building a prosperous futuretoday.
Inhalt
About This Book xi
Part One: Mindset + Knowledge = Wealth 1
Chapter 1 Start Now 3
Just Say No to Excuses 3
You Must Believe It to See It 7
Set Goals Now 12
Chapter 2 Multiple Paths to Building Wealth 19
Appreciation in Market Values 19
Inflation 21
Cash Flows 24
Mortgage Payoff (Amortization) 24
Buy at a Bargain Price 25
Create Value with Property Improvements 26
Improve the Neighborhood and the Neighbors 27
Convert the Use 28
Manage and Market Your Properties More Profitably 30
Protect Your Profits from the IRS (Tax Shelter) 30
Discounted Notes, Tax Liens, Tax Deeds, and Realty Stocks 34
Part Two: How to Raise Money 37
Chapter 3 Strengthen Your Credit Power 39
Consistency: Fast Track or Flake 39
Character Counts 40
Credit Scores Count Most 42
Summing Up 51
Chapter 4 How to Invest Using Little (or None) of Your Own Cash 52
Why Low-Cash Deals Magnify Your Returns 52
Minimize Your Down Payment with Owner-Occupant Financing 56
Don't Overlook FHA 59
Discover FHA's Best Kept Secret: The 203(k) Program 62
Too Many Vets Pass Up VA Loans 63
Even Fannie and Freddie Accept Little- or Nothing-Down Loans 65
Summing Up 66
Chapter 5 Avoid Banks, Seek Seller Financing 68
How to Persuade the Sellers 69
What Type of Seller Financing? 71
Try a Contract-for-Deed 74
Assume a Low-Interest-Rate Mortgage 77
Assume a Nonassumable Mortgage 80
Chapter 6 Five More Techniques to Finance Your Investments 84
Wraparounds Benefit Buyers and Sellers 84
Lease Options 85
Lease-Purchase Agreements 91
Master-Lease an Apartment Building 92
Chapter 7 How to Come Up with the Cash to Close 96
Cash Out Some of Your Current Home's Equity 96
Bring in Partners 97
Second Mortgages 99
Personal Savings 100
Sell Unnecessary Assets 100
Easy MoneyHard Terms 101
Use Credit Cards 105
Personal Loans 105
Sweat Equity (Creating Value through Improvements) 105
Eliminate Your Down Payment with Pledged Collateral 106
Student Loans 107
Use Creative Finance 107
Chapter 8 Here's How to Qualify 109
Be Wary of Prequalifying (and Preapproval) 109
You Can Make Your Qualifying Ratios Look Better 111
The Application Itself Contains Many Clues to Your Integrity 121
No Preset Qualifying Income Applies to Commercial Properties 122
Part Three: How to Invest for Maximum Gain 127
Chapter 9 Twenty-Seven Ways to Find or Create Below-Market Deals 129
Why Properties Sell for Less (or More) than Their Market Value 129
Don't Dilly-Dally with Due Diligence 135
How to Find Bargain Sellers 137
Chapter 10 Make Money with Foreclosures and REOs 143
The Stages of Foreclosure 143
Approach Owners with Empathy: Step One 145
Some Investors Profit from the Foreclosure Auction: Step Two 148
The Benefits of Buying REOs: Step Three 151
Chapter 11 More Sources of Bargains 156
Federal Government Auctions 156
Sheriff Sales 157
Buy from Foreclosure Speculators 157
Probate and Estate Sales 157
Private Auctions 159
Short Sale Bargains 162
Chapter 12 Run Numbers Like a Pro 169
Monitor the Construction Cycle 170
How to Profit from the Construction Cycle 170
Per-Unit Measures 173
Gross Rent Multipliers (GRMs) 175
Capitalized Value 176
Cash Flow Retur...