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Acknowledgments | |
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Preface | |
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The Quest for Something More | |
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Adventures in the Promised Land | |
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Why Real Estate? | |
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Inflation and Deflation | |
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Leverage | |
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Rent and Occupancy as Subsidies | |
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Risk | |
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Yield | |
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Control | |
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Opportunity Costs | |
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How Others Succeed | |
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Money: Raising Cash and Credit | |
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Outcasts of the Secondary Market | |
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Underwriting Standards for Investors | |
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Investment Financing's Hidden Barriers | |
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Rates | |
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Closing Fees | |
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Points | |
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Prepayment Penalties | |
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Due-on-Sale Clauses | |
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Where to Find Investor Financing | |
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Non-Conforming but Traditional Lenders | |
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Commercial Loans and Bank Credit Lines | |
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Seller Take-Backs | |
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Private Individuals | |
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Partners and Partnerships | |
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Credit Cards | |
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Personal Credit Lines | |
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Home Equity Mortgages | |
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Home Equity Loans and Special Rules | |
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Insurance Loans | |
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Pensions: Special Money for Investors | |
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A Model Letter for Pension Trustees | |
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Getting Pension Approval | |
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Keeping the Pension Happy | |
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Converting to Long-Term Financing | |
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How to Finance Investment Property | |
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Conventional, 30-Year, and 15-Year Financing | |
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FHA Loans | |
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Rehab Loans Under FHA 203(K) | |
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Fixing Up with Title 1 | |
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VA Loans | |
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Private Mortgage Insurance | |
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Assumptions | |
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Second Trusts | |
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Balloon Notes | |
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Wraparound Loans | |
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No Money Down | |
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Short-Sale Financing | |
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Adjustable Rate Mortgages | |
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In the Arena | |
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Building a Team | |
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Brokers, Agents, and Multiple Listing Systems | |
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Listing Agreements | |
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Exclusive Versus Non-exclusive | |
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Buyer Listings | |
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Multiple Listing Systems (MLS) | |
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Fee Splitting | |
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Being a Customer | |
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Dual Agency and No Agency | |
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Disclosure | |
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Should You Be a Broker or Agent? | |
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How to Find the Right Property | |
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Finding Growth Corridors | |
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Finding the Right Neighborhood | |
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General Condition | |
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Forms of Ownership | |
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Configuration | |
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Sellers | |
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Pricing, Rents, and Financing | |
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Negative Cash Flow in Perspective | |
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How to Bargain Like a Pro | |
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Starting Out: Entry-Level Strategies | |
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How to Raise a Down Payment | |
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Raising Extra Income with Boarders, Mingles Units, and Accessory Apartments | |
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Sweat Equity: Making Use of Time on Your Hands | |
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State Programs | |
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Mortgage Credit Certificate (MCC) Programs | |
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Rolling Over with Little Risk | |
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Buying Up and Renting Out | |
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Getting Started with Multiple Units | |
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Buying with Others: Partnerships | |
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Equity Sharing | |
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Converting Assets | |
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Redefining Rentals | |
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Creating Extra Rental Units | |
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Creating New Uses | |
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Converting Ownership | |
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Buying Small and Expanding | |
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Flipping Contracts | |
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Options, Leases, and Profits | |
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Subdividing Land | |
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Profits from Real Estate Finance | |
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Exchanges | |
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Foreclosures and REOs | |
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How to Get the Best Sale Prices | |
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Rental Properties | |
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Finding the Right Tenant | |
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How to Create High-Profit Leases | |
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Should You Hire a Manager? | |
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Dealing with Rent Control | |
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Additional Information | |
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The Language of Investment | |
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How to Create Winning Loan Applications | |
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Real Estate and Taxes | |
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Rates | |
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Inflation | |
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Interest | |
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Property Taxes | |
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Maintenance Expenses | |
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Capital Improvements | |
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Points Paid by the Buyer | |
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Points Paid by the Seller | |
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Passive Income | |
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Passive Loss Limitations | |
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Depreciation | |
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Capital Gains | |
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Second Homes | |
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Rehabilitation Credits | |
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Low-Income Properties | |
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At-Risk Rules--Investor Beware | |
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Alternative Minimum Tax (ATM) | |
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Over-55 Rule | |
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Moving | |
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Installment Sales | |
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Rollover Residence-Replacement Rule | |
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Casualty Losses | |
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Home Office | |
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Dealers | |
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The Bottom Line | |
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Index | |