An accessible introduction to GENERATING RENTAL INCOME FROM REAL ESTATE GETTING STARTED IN RENTAL INCOME Just as location is a critical component to the value of real estate, knowledge is a critical component to investing success. As with any type of new endeavor, gaining knowledge and experience is essential as you move forward toward success. If you're interested in generating rental income through an investment in real estate, but unsure of how to go about doing this, Getting Started in Rental Income will show you the way. Written in a straightforward and accessible manner, this book…mehr
An accessible introduction to GENERATING RENTAL INCOME FROM REAL ESTATE GETTING STARTED IN RENTAL INCOME Just as location is a critical component to the value of real estate, knowledge is a critical component to investing success. As with any type of new endeavor, gaining knowledge and experience is essential as you move forward toward success. If you're interested in generating rental income through an investment in real estate, but unsure of how to go about doing this, Getting Started in Rental Income will show you the way. Written in a straightforward and accessible manner, this book discusses the two major ways of entering the rental income market--the traditional purchase of rental properties or buying and selling fixer-upper properties--and reveals what you need to do once you're in. This easy-to-read guide clearly explains how to: * Invest in the right properties * Generate cash flow adequate to make insurance, tax, utility, and monthly mortgage payments as well as to allow for periodic vacancies * Make a profit from flipping properties * Take advantage of the tax benefits of real estate * Implement specific strategies--beyond diversification--to mitigate real estate risk * And much more Furthermore, Getting Started in Rental Income also identifies the pitfalls and market risks of this field, as well as the personal aspects of becoming involved in rental income. If you're interested in generating income through real estate and want to learn how, this book has all the answers.
Michael C. Thomsett is a financial writer who has published more than sixty books on investing, real estate, business, and management topics. He is the author of several Wiley books, including Getting Started in Six Sigma, J.K. Lasser's Real Estate Investing, and Getting Started in Options, now in its sixth edition. Prior to his writing career, Thomsett was a professional accountant and systems consultant.
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Introduction: A Market with Profit Potential.
PART 1: Approaching the Market.
Chapter 1: The Traditional Approach: Buy, Hold, Hold aWhile Longer, Sell.
Studying the Rental Income Market.
Advantages to Long-Term Investing.
Disadvantages to Long-Term Investing.
Deciding When to Sell.
The Positive Long-Term Experience: A Matter of Management.
Chapter 2: Financial Aspects: Keeping the CashFlowing.
Leverage and Real Estate.
Mortgage Payments and Rental Income.
Rental Expense and Tax Calculations.
Tax Planning for Rental Income Property.
Chapter 3: Fixer-Upper Alternatives: The FlippingMarket.
The Flipping Concept.
Attributes of High-Potential Properties.
Quick Fix versus Expensive Problems.
Importance of Home Inspections.
Estimating Time and Cost Features.
Rental Income during Your Hold Period.
Chapter 4: The Fixer-Upper Property: Abused Homes withPotential.
Attributes of Fixer-Uppers.
The Importance of Appearance.
Recognizing Market Potential: Valuation Theories.
The Unattractive Property: A Quick Fix.
Creating a Budget.
Checklists of Neighborhood and Property.
Classifying Expenses: Cosmetic or Expensive.
The Buyer Psychology.
Chapter 5: The Combo: Long-Term and Fixer-UpperPortfolios.
Investment Portfolio Planning for Real Estate.
Conversion: Fixer-Upper to Long-Term Hold.
Fixing-Up Expenses in Conversions.
Combining Both Types in Your Portfolio: Limitations andGuidelines.
Living in Your Fixer-Upper.
Personal Limitations.
PART 2: Rental Income Investment PlanningStrategies.
Chapter 6: Cash Flow First Aid: Stop the Bleeding, DoCPR (Cash-Positive Reasoning).
How CPR Works.
Studying the Essential Cash Flow Problem.
Guidelines and Suggestions: Managing the ProfitableSituation.
