Synopses & Reviews
Facing a volatile stock market, many people have turned to real estate as a way to invest their hard-earned money. While many investors opt to buy property and then sell it quickly, other investors choose to hold onto their property for a longer period of time to realize a greater return on their investment. Real estate experts Scott Frank and Andy Heller have developed a proven and diversified program for real estate investing that incorporates both approaches and enables investors to take control of their financial futures and build wealth over time.
Their new book, Buy Low, Rent Smart, Sell High: Real Estate Investing for the Long Run outlines a win-win-win program, one where average people can reap significant financial rewards by investing in real estate.
* Win One: Buying Low - The investors first win occurs by purchasing real estate at a 10-20 percent discount by seeking out motivated buyers and avoiding paying agent commissions. The book reveals the secret to buying foreclosed homes with clean titles from banks and mortgage companies.
* Win Two: Renting Smart - The property is rented through a lease/purchase agreement. Not only does the investor get a down payment from the lease/purchasee, but he or she also receives monthly rent that usually exceeds the monthly mortgage payment. Also, the lease/purchasee takes on the maintenance and repair responsibilities and tends to be a better tenant in return for their special lease/purchase terms. In addition, as the owner of the property, the investor is able to receive tax write-offs.
* Win Three: Selling High - The final win results when the lease/purchasee exercises his or her right to purchase the property. The owner has realized the benefits of owning the property and has sold it to the lease/purchasee without agent commissions. If the lease/purchasee decides not to exercise his or right, the investor still wins because he or she can either extend the lease purchase agreement and increase the purchase price (based on property appreciation) or enter into another lease/purchase agreement with a new tenant and begin the cycle of wins all over.
Listed as one of 11 helpful resources for real estate investing by Fortune magazine.
Like investing in the stock market, making a profit in real estate is about buying low and selling high. Andy Heller and Scott Frank outline a proven real estate investing program that does more than make good money. Their method also makes it possible for good people with poor credit or low cash to purchase their own homes over time. In "Buy Low, Rent Quickly, Sell High: Real Estate Investing for the Long Run, Heller and Frank detail how to run this program to get consistent returns for the long run, even during down economic times. They reveal five avenues for making a profit, compared with one or two ways for other programs: *Buy single-family homes from banks and mortgage companies at a low price, typically 10 to 20 percent below fair market value.*Get renters into each home quickly at top rates to generate a positive monthly cash flow.*Receive lease/purchase option money and contract with tenants to sell them the homes at fair market value over a period of time.*Receive tax benefits from writing off taxes, interest, repairs, and business expenses as legal owners of the investment properties.*Pay down the mortgage loans every month, which creates additional profit when the properties are sold. "Buy Low, Rent Quickly, Sell High helps investors jump-start their businesses with its sample forms and checklists, including a real estate contract, residential rental agreement, option to purchase agreement, a home inspection checklist, marketing materials, and much more.
Table of Contents
Introduction: we've made good money and so can you -- Making your first million dollars -- Getting started -- Our story, goals, and niche -- Setting up your real estate team -- Money for purchasing your homes -- Finding good homes -- Making offers and negotiating purchases -- The real estate purchase contract -- Fixing up your homes -- Our lease/purchase program -- Marketing your homes -- Finding the right lease/purchasers -- The lease/purchase contract -- Managing lease/purchase relationships -- Selling your homes.