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| Preface | |
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| Getting Started | |
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| Toddy's Real Estate Opportunities | |
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| A Continuing Housing Shortage | |
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| Inflation | |
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| Cheap Financing | |
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| A Strong, but Not Too Strong, Economy | |
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| Plan for Success | |
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| Hold It or Flip It? | |
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| Should I Hold Properties for a Very Long Term? | |
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| Should I Keep My Day Job? | |
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| How Do I Cash Out? | |
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| Can Anyone Do It? | |
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| What Kind of Properties Should I Look For? | |
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| Where Are the Alligators? | |
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| What If I Can Flip It? | |
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| How Can I Flip in a Cold Market? | |
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| When Is It Not Really Flipping? | |
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| So Should I Hold It or Flip It? | |
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| Buying | |
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| Eleven Steps to Finding Good Properties in Any Market | |
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| Buy Close to Home | |
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| Don't Pay Market Price | |
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| Buy Single-Family Residential Homes (to Start) | |
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| Look in Better (but Not the Best) Neighborhoods | |
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| Always Look First for Flippable Properties | |
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| Look Where Tenant Markets Are Strongest | |
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| Buy Properties with Positive Cash Flow | |
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| Look for Low-Expense Properties | |
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| Insist on Favorable Terms | |
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| Always Lowball the Seller | |
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| Start by Converting your Own Home to a Rental | |
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| Identifying Breakout Bargains | |
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| Los Angeles: A Case Study | |
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| Finding the Turnaround Area | |
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| Getting the Seller to Work for You | |
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| Reasons That Motivate a Seller | |
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| Discovering Why a Seller Wants to Make a Move | |
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| Motivated Sellers in Foreclosure | |
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| Getting the Bargain | |
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| Making Lowball Offers That Stick | |
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| The Initial Lowball Offer | |
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| Knowing What the Home's True Market Value Is | |
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| Deciding How Much to Lowball | |
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| Maintaining Your Objectivity | |
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| Deciding How Much of Your Own Money to Put into the Purchase | |
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| Keeping Your Personal Financing Separate from Your Business Financing | |
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| Holding Back Some Cash in Reserve | |
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| The Bottom Line | |
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| Sweet Deals in Foreclosures | |
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| Buying Directly from a Seller in Preforeclosure | |
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| Buying from a Lender at a Foreclosure Auction | |
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| Buying from a Lender in the REO Market | |
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| Buying from Government Agencies | |
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| Buying at Auctions | |
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| Commodities Auctions | |
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| Real Property Auctions | |
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| Where's the Profit? | |
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| Auction Terms and Conditions | |
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| Working the Fixer-Uppers | |
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| Where Can I Find Good Fixer-Uppers? | |
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| Should I Offer Less? | |
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| How Much Should I Fix? | |
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| Will Financing Be a Problem? | |
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| When Should I Sell and for How Much? | |
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| Financing for Investors | |
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| Points: The Bane of Borrowers | |
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| Qualifying for an Investment Mortgage | |
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| Buying to Move In and Then Converting | |
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| Financing for a Flipped Property | |
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| Building a Bridge Loan | |
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| Institutional Financing | |
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| Seller Financing | |
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| Renting | |
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| It's Harder...and Easier...Than You Think | |
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| It's Business, Not Personal | |
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| A Typical Progression into Landlording | |
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| Valuating Property for Rental Potential | |
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| Location Tripled | |
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| How Do I Determine the Local Market? | |
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| How Do I Know If the House Will Make a Good Rental? | |
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| How Do I Know If the House Is in Rental Condition? | |
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| How Do I Judge the Direction of the Economy? | |
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| The Basic Rules for Being a Successful Landlord | |
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| Offer a Clean Rental | |
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| Pay the Water Bill | |
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| Know the People You're Renting To | |
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| Don't Try to Avoid Children or Pets | |
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| Don't Try to Get the Last Month's Rent | |
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| Rent for Less | |
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| Charge for a Late Payment | |
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| Don't Delay Fixing a Problem | |
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| Keep a Lookout on Your Property | |
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| Don't Let the Tenant Get Behind | |
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| Evict Only as a Last Resort | |
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| Raising Rents to Increase the Positive Cash Flow | |
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| How Much, Exactly, Is My Negative Cash Flow? | |
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| Can I Cut Expenses? | |
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| Can I Raise Rents? | |
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| Can I Deduct Losses from My Rental Income? | |
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| Getting Professional Advice | |
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| Preparing a Rental for Sale | |
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| How Do I Break the Lease? | |
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| What If the Tenant Simply Refuses to Leave? | |
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| Should I Fix Up the Property? | |
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| How Much Should I Spend and How Much Should I Upgrade? | |
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| Can I Get a Second Opinion? | |
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| How Do I Estimate What It Will Cost to Fix Up the Property? | |
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| Should I List with an Agent or Sell It Myself? | |
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| How Do I Find a Good Agent? | |
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| How Do I Sell It Myself? | |
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| Once I Find a Buyer, How Do I Handle Disclosures and Inspections? | |
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| How Do I Close the Deal? | |
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| Selling | |
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| Getting Your Price in Any Market | |
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| Making the Property Ready to Show | |
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| Pricing to Market | |
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| Getting to the Right Price | |
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| Getting Enough Exposure | |
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| The Bottom Line | |
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| Ready-Made Buyers | |
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| How Do I Find a Tenant-Buyer? | |
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| What Is a Delayed Purchase? | |
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| Where Will I Find a Delayed-Purchase Buyer? | |
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| Should I Use a Lease-Option? | |
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| Does a Lease-Option Have Risks? | |
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| How Do I Qualify a Tenant-Buyer? | |
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| Are There Additional Advantages to Using a Lease-Option? | |
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| Are There Additional Disadvantages to Using a Lease-Option? | |
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| What If I Change My Mind? | |
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| How to Flip Properties | |
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| Flipping a Property Using a Real Estate Option to Buy | |
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| Flipping a Property Using an Assignment | |
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| Using a Hidden Double Escrow: The Wrong Way to Flip a Property | |
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| The Right Way to Flip a Property | |
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| Mortgage, Appraisal, and Rebuyer Manipulation | |
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| Converting Equity to Cash | |
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| Refinancing to Buy | |
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| The Tax Consequences of Converting Equity to Cash | |
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| The Refinancing Process | |
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| The Bottom Line | |
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| Tax Advantages for the Real Estate Investor | |
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| Is Depreciation an Expense? | |
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| Does Depreciation Contribute to Loss? | |
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| So When I Sell, I Could Owe Some Capital Gains Taxes? | |
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| Is There Any Legal Way to Avoid Owing Taxes on My Profits? | |
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| What Type of Records Do I Need to Keep? | |
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| What If I Refinance? | |
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| Index | |