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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 | |