Gary W. Eldred

Make Money with Condominiums and Townhouses (eBook, PDF)

• Format: PDF

Produktbeschreibung

In the Make Money series, renowned real estate investor and bestselling author Gary W. Eldred shows you how to profit from the safest, most reliable wealth builder in the world-real estate. With coverage of all the fundamentals-from finding the right properties to financing and managing them-Eldred shows you the ropes so you don't have to learn important lessons the hard way. Unlike general guides to investing in real estate, each title in the Make Money series gives you the specialized expertise necessary to fully profit from a select investment strategy. Make Money with Condominiums and Townhouses shows homebuyers and investors how to travel the road to real estate wealth-often with little or nothing down. As an affordable investment vehicle, condominiums and townhouses offer numerous advantages over other types of rental property-they require relatively little day-to-day management, they tend to attract more desirable tenants than other rental properties, and they offer low risk and high returns. Full of time-tested techniques and proven money-making strategies, Make Money with Condominiums and Townhouses will show you how to: * Relax while you put your money to work * Find properties with high rates of appreciation * Evaluate homeowner association finances * Choose profitable locations * Understand the changing demographics that may affect your investment * Finance your properties with little or no money down * Achieve positive cash flow quickly * Build up equity * Understand by-laws, disclosure statements, and management contracts

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Produktdetails

• Verlag: John Wiley & Sons
• Seitenzahl: 312
• Erscheinungstermin: 14. April 2004
• Englisch
• ISBN-13: 9780471481171
• Artikelnr.: 38196773

Autorenporträt

GARY W. ELDRED, PHD, has been involved in more than a hundred real estate projects as a buyer, seller, or investment consultant. Dr. Eldred has also taught numerous graduate courses in real estate at America's top universities, including Stanford, the University of Virginia, and the University of Illinois. He is also the author of Make Money with Small Income Properties and Make Money with Fixer-Uppers and Renovations, and coauthor of the bestseller Investing in Real Estate, Fourth Edition, all published by Wiley.

Rezensionen

"...But if you know nothing about finding, buying and sellingproperty or little about finance...author Gary Eldred is your guy."(Miami Herald, October 8, 2003)

Gary W. Eldred, in his Make Money With Condominiums andTownhouses, differs from those get-rich-quick types who implythat all it takes to be a landlord-tycoon is creative financing andchutzpah.
Real estate can be rewarding, but you have to do your homework.Lots of it. This is where Eldred - a Realtor who has taught atStanford University and the University of Illinois and co-wrote thethorough Investing in Real Estate with Andrew McLean - comesin.
How do you choose the right condo or town house? The due diligenceyou have to exercise is considerable. When you are negotiating tobuy a unit, the seller has to show you legal and financialdocuments about the homeowner's association. Read them closely. Ahomeowner's association that is in financial trouble is more likelyto levy special assessments on homeowners to cover deficits or payfor maintenance or repairs.
Other questions: Does the association carry enough insurance? Is itsuing or being sued? (Guess who'll pay the legal bills.) Know thatsellers and Realtors must disclose any serious defects of aproperty that they are aware of.
Does a condo development have too many renters? That could harmproperty values. How do you evaluate unit location, density, size(measurement errors happen frequently), livability, security,parking, amenities and so forth? If your eyes glaze over at all thedetail Eldred provides, you may not be cut out to be a real estateinvestor.
Why invest in condos and town houses? Because in many areas,single-family homes have become too expensive relative to therental income they can bring.
Eldred gives a good overview of what you need to know before youplunge into the exciting (but perilous) world. Read Make MoneyWith Condominiums in conjunction with his earlier book,Investing in Real Estate, for more insight into how to findbargains and obtain financing from less-known channels. (USATODAY, October 20, 2003)