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Buy, Rent, and Sell: How to Profit by Investing in Residential Real Estate

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ISBN-10: 0071482377

ISBN-13: 9780071482370

Edition: 2nd 2008 (Revised)

Authors: Robert Irwin

List price: $23.00
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This newly revised edition of "Buy, Rent, and Sell" features everything you need to know to make money in residential real estate. Robert Irwin covers the investment tools of today's market, including buy-and-hold strategies and tax-smart long-term financing.
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Book details

List price: $23.00
Edition: 2nd
Copyright year: 2008
Publisher: McGraw-Hill Education
Publication date: 10/15/2007
Binding: Paperback
Pages: 288
Size: 6.25" wide x 9.25" long x 0.75" tall
Weight: 0.836
Language: English

Robert Irwin (Author) Robert Irwin was born on December 1, 2003 and his abundance of energy at Australia Zoo is contagious! At eleven years of age, Robert is a chip off the old block, and with his cheeky grin and natural curiosity, he loves nothing more than catching lizards and skinks, learning about wildlife and the Australian bush, and hanging out with his much-adored sister, Bindi. Like his mum and sister, Robert has also been quite the jetsetter and travelled all over the world attending events like the Emmys and the Nickelodeon Kids' Choice Awards. Robert also travelled to South Africa in 2009 for an exciting filming project, making his cameo appearance alongside his sister Bindi in…    

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