Retire Rich from Real Estate: A Low-risk Approach to Buying Rental Property for the Long-term Investor Book

?Introduction -

Chapter One: To Buy or Not to Buy
-The Benefits-Making Money Takes Time
- Cash Flow
-Appreciation
-Leverage
- Amortization
- Tax Advantages
- Time is Money
-Just the Facts-The POMS Survey
- The Costs-You Must Be Committed
- The POMS in Perspective-Why Buy At All?
- Summary

Chapter Two: Demographics 101 -
-Who Are Your Tenants and Where Do They Live?
- Future Demand for Rental Housing
- The Shortage of Affordable Housing
- Summary

Chapter Three: Looking for Properties -
- Working with Realtors and the MLS
- Working with a Buyer's Agent
- Newspaper Ads
- Driving Around
- Tax Records and Mailings
- Using Seller's Agents
- Real Estate Investment Clubs
- Summary

Chapter Four: The Preferred Property Types
-Single-Family Homes
- Multifamily Dwellings
- Townhomes, Condominiums, and Mobile Homes
- Student Rentals
- Rooming Houses
- Building Styles
- Single-Level, Two-Story, Side-by-Side, and Over-Under Flats
- Utilities, Bathrooms, and Parking
- Converting Single-Family to Multifamily
-New Construction
-Modular Housing
-Summary

Chapter Five: Choosing a Location -
-The Fundamentals
- Cash Flow versus Location
- Choosing Location Using GRMs
- GRM Summary
- Suburban Sprawl
- Main Street or Dead-End Streets?
- Student Housing
- Appreciation and Growth Trends
-Investing in High-Priced Markets
- Summary

Chapter Six: Determining Cash Flow -
- Myth versus Reality
- Determining Operating Expenses
- Calculating Cash Flow
- Effect of Interest Rates on Cash Flow
- GRMs to Predict Cash Flow
- Cash Flow Calculators
-Determine the Market Rents
-Appreciation Makes Up for Negative Cash Flow
-Summary

Chapter Seven: Valuing Property -
- Methods for Valuing Property
- The Comparative Sales Approach
-The Capitalization Rate Approach-"Cap Rates"
- Stated Cap Rates
- Understanding Cap Rates
- Cap Rates and Short-Term Financing
- Future Trends
-Using GRMs to Predict Value
- Replacement Cost Approach
- Putting it All Together
- The Final Check-Is the Property Likely to Appreciate?
- Real Estate Bubbles
- Summary

Chapter Eight: Financing Your Investment -
- Fixed-Rate, Adjustable-Rate, and Interest-Only Loans
- Understanding Amortization
- The Five Rules of Financing Your Properties
- The Low Down on No-Down Deals
- Cash-Out Refinancing
- Financing for a Fixer-Upper
- Money Back at Closing
- Owners versus Non-Owner Occupied Financing
-Commercial Financing
- Summary

Chapter Nine: Making the Offer and Taking Over -
- Pre-Offer Inspections
- Make-Ready Cost Estimates
-Be Prepared to Walk
-Offer to Purchase Forms
- The Offer
-Disclosure Forms
- Earnest Money
-Be Careful of Contract Exclusions
- Closing the Deal
- Final Due Diligence and Taking Over
- Post-Offer Inspections
-The Tenants
-Identifying Opportunities and Avoiding Problem Properties
- Summary

Chapter Ten: Advertising and Renting -
- "For Rent" Signs
- Using a Realtor
-Internet Advertising
- Student Rentals
- Advertise at Market Rent
- Rent Concessions and Keeping Tenants
- Summary

Chapter Eleven: Managing Your Investments -
-Should I Manage Myself?
- Screening Tenants
- Prior References
- Problem Tenants
-Pets
- The Right Lease
-Enforce It
- The Three Rules of Lease Enforcement
-Repairs and Maintenance
-Handling Minor Repairs
-Painting
-Bigger Jobs
- What is Really Necessary?
- Appliances: Used or New?
-Landscaping
- Renting to Students
- Students and Leases
- Summary

Chapter Twelve: Insurance -
-Property and Casualty Insurance
- Policy Deductibles
- Personal Property
- General Liability Insurance
- Business Owners Package
- Reducing the Risks of Lawsuits
- Mold
-Claims Histories and the CLUE Report
-Summary

Chapter Thirteen: Taxes and Rental Property -
-Historical Overview
-Passive and Non-Passive Income and Losses
-The $25,000 Exclusion Rule
-Depreciation
-Repairs and Improvements
- Other Expenses
-Schedule E
- Lose the Paper and Calculator
-Summary

Chapter Fourteen: Selling Your Property -
- Preparing for the Sale
- Selling as Owner-Occupied Dwellings
-Selling as Investment Properties
-Pricing, FSBOs, and Realtors
- Depreciation Recapture
- Determining your Taxable Gain
- 1031 Tax Exchanges
- Summary

Chapter Fifteen: Bookkeeping and Computers -
- Organizing
- One Bank Account
- Financial Computer Programs
- Summary

Glossary -

Appendix A: Total Operating Expenses -

Appendix B: Maintenance, Repairs, and Reserves -

Appendix C: Typical Computer-Generated Cash Flow (Report for Duplex) -

Appendix D: Inspection Report -

Appendix E: Maintenance Cost as a Percentage of Income -

Marc W. Andersen and his wife have been actively buying, renovating, building and managing rental property over the last 20 years. He holds a BA from Virginia Tech and a PhD from the University of Virginia. He provides a heavily researched book coupled with real life experience. He lives in Raleigh, North Carolina.