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Investing in Real Estate (7TH 12 Edition)by Mclean
Synopses & ReviewsPlease note that used books may not include additional media (study guides, CDs, DVDs, solutions manuals, etc.) as described in the publisher comments.
To explore and illustrate contemporary and evolving market conditions and investment opportunities, this newly revised edition will include the following:
1. Provide historical/cyclical context to emphasize the unprecedented combination of bargain pricing and near record low interest rates now available in most cities.
2. Show how to meet and exceed today's changed loan underwriting standards. (Yes, loans are widely available-but readers/would-be investors must learn how to navigate the maze).
3. Discuss effective ways to successfully negotiate below-market prices with banks, distressed owners/mortgagors, and government agencies (HUD, FHA, Fannie, Freddie, etc.)
4. Reveal methods that will make sure your appraisal comes in at the value you want/need for loan approval.
5. Explain how to legally and ethically use easier/low down payment, owner-occupied financing to acquire investment properties.
6. Guide readers through the new procedures and processes used to acquire REOs (relatively) quickly and on favorable terms as well as illustrate how to structure and complete short sales on favorable terms.
7. How to find motivated sellers and/or market properties through social media.
8. Capitalize on the low CD rate environment to persuade sellers to offer OWC property financing-indeed, a large and growing number of sellers need no persuasion. OWC financing is being offered by tens of thousands of sellers already.
9. Learn how to acquire properties through buying debt, subject-to agreements, and loan assumptions. (Yes, they are still available when you know where to look).
10. Discuss why today's prices (contrary to media mis-statements and err-prone commentators) are sure to increase substantially and how to identify the properties and locations that will experience the highest rates of appreciation.
In addition to the above (and many other) revisions that are especially crafted to address the new opportunities and challenges that will exist for the next several years, this 7th edition will achieve elevated standards for clarity, application, and time-tested investment principles and practices (p&p which were often forgotten or ignored during the boom years).
The bestselling guide to real estate, newly revised for today's investors
More than ever, investing in property today will set you on track to conquer financial uncertainty and build your long-term net worth. Investing in Real Estate, Seventh Edition offers dozens of experience- proven methods to convert these challenging times into the best of times.
Whether you want to fix and sell or buy, improve, and hold, market savvy real estate investor Gary W. Eldred shows you how to achieve your goals. He provides time-tested ways to grow a profitable portfolio and shows you how property investing can deliver twenty-two sources of financial return. You'll learn how to negotiate like a pro, read market trends, and choose from multiple possibilities to finance your properties. This timely new edition also includes:
Join the pros who are profiting from today's market. All you need is the knowledge edge provided by Investing in Real Estate, Seventh Edition—the most favored and reliable guide to gaining the rewards that real estate offers.
"This is the best how-to-invest-in-real-estate book available."
INVEST NOW for Large Future Gains
INVEST NOW for Increasing Cash Flows
INVEST NOW for Lifetime Security
About the Author
GARY W. ELDRED, PhD is the bestselling author of The Beginner's Guide to Real Estate Investing, The 106 Common Mistakes Homebuyers Make (and How to Avoid Them), Trump University Real Estate 101, and many others. He is a leading real estate authority whose Fortune 500 clients have included Wells Fargo, Georgia- Pacific, and Century 21. He frequently speaks at national investment conferences and has served on the graduate business faculty at Stanford University, the University of Illinois, and the University of Virginia.
Table of Contents
Prologue: Invest in Property Now
Today's Odds Point Directly towards Present and Future Gains
Develop and Execute Your Strategy Now
Chapter 1 Achieve a Prosperous Future: 22 Ways You Can Earn Profits with Property
1.1 Potential Sources of Profit from Investment Property
1.2 Is Property Your Best Investment Choice?
Chapter 2: OPM: Borrow Smart, Raise Cash, Build Equity
2.1 The Birth of "Nothing Down"
2.2 Should You Invest With Little or No Cash or Credit?
2.3 Maximize Leverage with Owner-Occupancy Financing
2.4 What Are the Loan Limits?
2.5 High Leverage for Investor-Owner Financing
2.6 How to Build Confidence with Lenders, Equity Investors, Sellers, and Sales Agents
Chapter 3: Appraisal: Ins and Outs of Market Value
3.1 What Is Market Value?
3.2 How to Estimate Market Value
3.3 Property Description
3.4 The Cost Approach
3.5 The Comparable Sales Approach
3.6 The GRM Income Approach
3.7 Income Capitalization
3.8 Valuation Methods: Summing Up
Chapter 4: Maximize Cash Flows And Grow Your Equity
4.1 Will the Property Yield Good Cash Flows?
4.2 Will the Property Yield Profitable Increases in Price?
4.3 Summing Up
Chapter 5: Pay Less than Market Value
5.1 Why Properties Sell for Less (or More) than Market Value
5.2 Prepare Screening Criteria
5.3 Bargain Sellers
5.4 Seller Disclosures
Chapter 6: Profit with Foreclosures
6.1 The Foreclosure Process
6.2 Buy Pre-Foreclosures from Distressed Owners
6.3 Prequalify Homeowners and Properties
6.4 Finding Homeowners in Default (Prefiling)
6.5 Find Homeowners (Post-Filing)
6.6 Satisfy Lenders and Lien Holders
6.7 Profit from the Foreclosure Auction
6.8 The Foreclosure Sale: Summing Up
Chapter 7: Profit from REOs and Other Bargain Sales
7.1 Sad For Sellers/Builders, Bargains For You
7.2 How to Find REOs
7.3 HUD Homes and Other HUD Properties
7.4 Department of Veterans Affairs (REOs)
7.5 Fannie Mae and Freddie Mac REOs
7.6 Federal Government Auctions
7.7 Buy from Foreclosure Speculators
7.8 Probate and Estate Sales
7.9 Private Auctions
Chapter 8: Profit by Creating Value
8.1 Fix, Sell, Profit!
8.2 Your "Fixer" Search
8.3 Improvement Possibilities
8.4 Required Repairs and Improvements
8.5 You Can Improve Everything about a Property—Including its Location
8.6 What Types of Improvements Pay the Greatest Returns?
8.7 Budgeting for Resale Profits
8.8 Comply with Laws and Regulations
8.9 Should You Buy a "Fixer"?
Chapter 9: More Techniques To Profit with Property
9.1 Lease Options
9.2 Lease Purchase Agreements
9.4 Master Leases
9.5 Assignments: Flipping Purchase Contracts
Chapter 10: Negotiate a Win-Win Purchase Agreement
10.1 Win-Win Principles
10.2 The Purchase Contract
Chapter 11: Strategic Management Builds Equity
11.1 The 10:1 Rule (More or Less)
11.2 Smart Strategic Decisions
11.3 Cut Operating Expenses
11.4 Add Value: Closing Words
Chapter 12: Develop the Best Lease
12.1 The Mythical “Standard Lease”
12.2 Craft Your Rental Agreement
12.3 Tenants Rights Laws
12.4 Landlording: Pros and Cons
Chapter 13: Create Promotions that Sell
13.1 Design a Winning Value Proposition
13.2 Craft Your Selling Message
13.3 Reach Potential Buyers
13.4 Should You Employ a Realty Agent?
Chapter 14: Pay Less Tax
14.1 The Risks of Change and Complexity
14.2 Homeowner Tax Savings
14.3 Alternative Minimum Tax
14.4 Capital Gains
14.5 Tax-Free Exchanges
14.6 Reporting Rental Income and Deductions
14.7 Tax Credits
14.8 Property Taxes
Chapter 15: More Ideas for Profitable Investing
15.1 Out-of Area Investing
15.1.3 Emerging Growth Areas
15.1.4 Emerging Retirement/Second-Home Areas
15.1.5 Out-of-Area Caveats
15.2 Commercial Properties
15.3 Triple Net (NNN)
15.5 Mobile Home Parks
15.6 Profitable Possibilities with Zoning
15.7 Tax Liens/Tax Deeds
15.8 Discounted Paper
15.9 Should You Form an LLC?
Chapter 16: Opportunity for a Lifetime
16.1 Right Time, Right Price, Right Place (USA)
Although property investing does not require market timing, market timing does add to our possibilities for scoring great deals. By “great deal,” I not only refer to good price, good property as related to today's market prices. More importantly, today's investors will look back from 5, 10, or 20 years into the future and congratulate themselves for acting while the majority waited in idle worry and procrastination.
16.2 Personal Opportunity
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