Helps you maximize your investment, minimize your time and effort, and make the most of the real estate market. This title shows you how to: select a house and negotiate the best price and terms; perform a financial analysis to maximize value; secure financing and prepare for your closing; find qualified tenants; and, draft lease agreements.
Product Details
ISBN-13: 9780071436823
Media Type: Paperback
Publisher: McGraw Hill LLC
Publication Date: 04-16-2004
Pages: 288
Product Dimensions: 5.90(w) x 8.90(h) x 0.60(d)
About the Author
Steve Berges is a real estate investment professional with over 25 years of experience. As Principal of Symphony Homes, he is an active investor specializing in creating value through various real estate mechanisms, including single family houses, multifamily apartment complexes, and the development and construction of single family and condominium housing communities. Berges holds an MBA degree in finance and marketing from Rice University. He is also the author of The Complete Guide to Buying and Selling Apartment Buildings and The Complete Guide to Flipping Properties.
Table of Contents
Table of Contents
Section 1 How to Buy Rental Properties the Smart Way 1 Real Estate for the Smart Investor Historical Performance Four Ways to Benefit from Owning Real Estate Economic Housing Outlook for the Coming Decade The Lever and the Fulcrum The Magic of Compound Interest How to Build a $10 Million Retirement Portfolio 2 Selecting Great Rental Houses for the Smart Investor How to Choose the Right Location How to Choose the Right Type of House Physical Condition: Inspecting Is Key How to Determine the Best Price Range for Your Area 3 Eight Ways to Locate Rental Houses for the Smart Investor Classified Advertisements Real Estate Magazines Internet Searches Billboards and Signs Real Estate Agents Scouts Professional Affiliations FSBOs 4 Financial Analysis of Rental Properties Traditional Valuation Methods How Much Rent to Charge Your Tenants How to Analyze Your Rental House Investment Test I: Comparable Sales Analysis Test II: Cash-Flow Analysis 5 Financing Your Rental Property Financing Terms and Conditions Additional Financing Considerations Loan Documentation Checklist Six Smart Ways to Finance Your Rental Property 6 Real Estate Sales Forms and Closing Documents Real Estate Sales Forms Residential Sales Contract Property Condition Disclosure Third-Party Financing Addendum Loan-Assumption Addendum Seller-Financing Addendum Notice of Termination Closing Documents Title Report Settlement Statement Deed Promissory Note Section 2 How to Manage Rental Properties the Smart Way 7 How to Find, Qualify, and Keep Good Tenants How to Find Good Tenants Signage Classified Ads Referrals Locator Service How to Qualify Good Tenants How to Keep Good Tenants The Golden Rule Visibility Adds Value Concentric Circles 8 Lease Agreements for the Smart Investor Residential Lease Agreement 9 Eight Smart Ways to Increase Rents by Making These Improvements Good First Impressions Landscaper’s Delight Fancy Fencing Room to Stow Room with a View Flattering Floors Lighting the Way Clean Kitchens 10 How to Decrease Expenses the Smart Way Pass the Buck Hire the Handyman Utilize Utilities A Taxing Matter Dialing for Dollars Management 101 11 How to Manage Tenants the Smart Way Your Role as a Manager How to Collect Rents when They Are Due When and How to Raise Rents How Much to Raise Rents Section 3 How to Sell Rental Houses the Smart Way 12 Five Smart Ways to Enhance Your Rental House’s Marketability Begin with the End in Mind Maximize Your Exposure Sell What the Buyer Wants Price Your House to Sell Sweeten the Pot 13 Six Smart Ways to Negotiate for the Best Price and Terms Psychology 101 Market Knowledge Is Key The Trial Balloon The Blame Game Put It in Writing The Chess Player 14 Five Golden Rules for Success The Five Laws of Gold The First Law of Gold The Second Law of Gold The Third Law of Gold The Fourth Law of Gold The Fifth Law of Gold Afterword Glossary Index