Investing in Fixer-Uppers &ndash A Complete Guide To Buying Low& (New York, NY)

Investing in Fixer-Uppers &ndash A Complete Guide To Buying Low&

...Fixing Smart Adding Value And Selling (or Renting) HighLocal pick-up preferred but will ship at the buyer s expenseKingston Books 13 IMG_4680Author Jay P. DeCimaPublisher McGraw HillExpert money-making advice from the nation s leading fixer-upper guru Excellent book on the fixer strategy. --John T. Reed bestselling real estate author Filled with practical examples of how to profit from rundown fixer-upper properties. --Robert J. Bruss syndicated real estate columnistNobody wants to buy an ugly decrepit rundown house--which is exactly why they provide real estate investors with the best bargains In Investing in Fixer-Uppers nationally known real estate guru Jay DeCima reveals how investors can add thousands of dollars to the value of an ugly house. He discusses how to substitute personal skills for traditional down payments strategies to profit without waiting for appreciation and dozens of other value-adding tips.Contents by ChapterIntroductionPart One. Getting Started in Fixer-UppersHow to Make 1 000 000 Working Smarter White Picket Fences Provide Big PaybackFix-up Profits vs. Wages at the SawmillMaking Serious Money Requires Extra Helpers Compounding and LeveragingWhere Does All the Money Come From It Doesn t Cost a Ton of Money to BeginWhy Fixers Are the Perfect Place to StartThe Adding Value Strategy and Why Properties Must Have PotentialLess Competition Always Equals Better ValueThe Heywood Houses A Textbook Fixer-Upper Classified Ads Can Sometimes Lead to The GoldmineFind What You re Looking for and Act QuicklyFixing People Problems Is Worth Big BucksFlexible Sellers Provide High-Profit OpportunitiesGood Financing Sets the Stage for Big ProfitsLooking for Loans in All the Wrong PlacesFixer Skills Turn Ugly Duckling Into Beautiful SwanTo Make Big Money You Need a Profit PlanThe End of a Very Profitable SeasonWaiting for Mr. Good Buyer The Profit Advantage Using Fix-up Skills Learn to See the Money-Making Potential in Ugly HousesOnly Two Methods to Make Money in Real EstateSelecting the Right Strategy Is Key to SuccessFixing Up Looks and Management Earns ProfitsFixing Houses is Equal Opportunity for AllSave 70% Doing Your Own Fix-UpFix-up Skills Earn Average Wages but Knowledge Builds FortunesSizzle Fix-Ups Provide High Investment ReturnsBiggest Payday Comes from Knowing Where to KickSize Yourself Up What Are You Capable of How to Get Started Investing in Fixer-Uppers Getting Started Ranks FirstContinuing Education A MustSpecialization Is the Quickest Way to Learn This JobReal Estate Investors Must Think Like Business FolksJay s Formula for Making Money in Real EstateInvesting My Way Four Basic IngredientsIt s Important to Position Yourself to Make MoneyIf You re Short on Knowledge or Money Adding Value Strategy Is a Perfect OpportunityLooking for Mr. Right Not Mr. PerfectSelecting a Property That s RightFinding Seller Who Truly Want to SellDon t be Stopped by Lack of CashDon t Buy Until You Know How Much to PaySpreading the RiskDiversification Later Is the Best StrategyThe Best Odds for Your Success10 Must-Do s That Will Speed Up Your Success5. Funding the Right Properties and a Motivated Seller The House Detective Approach Before You Invest Do Your Homework Obtain a Property Profile The Four Basic Methods of Finding and Buying Fixers Finding Sellers Who Truly Need to Sell Most Common Reasons That Motivate Sellers Key Factors for Making a Bargain Purchase Beware of Over Financed Property Looking for Owners with Equity Avoid Deals Like HUD FHA and VA Foreclosures It Pays to be Snoopy What to Do When You Find the Right Property Equity and Profits Are Greater with Larger Properties The Courage to Look Where Other s Don t Nontraditional Properties Break Ranks with the Typical Buyer My Yellow Court Houses The Right Property and Sellers Make for a Profitable Deal. Why Banks Want to Unload REO sTiming is Everything from Wine-Making to Real EstateDetermining How Much to PayMaking an OfferAffording the Fix-UpSuccess The Goal Is Finding Profitable Deals7. Good Realty Agents Don t Cost You Money They Help You Make ItHow to Find and Agent Who s Right for youFive Important Benefits and Agent providesNo-No s to Avoid If You Expect LoyaltyYour Real Estate Agent Can Help You Build Wealth8. The Price Is Determines by Income and LocationComplex Formulas Are Not necessaryWhat Are Gross Rent Multipliers and Why Are They Important Selecting the Right LocationFive Common Locations and Their Investment PotentialHow to Calculate What You Should PayJay s Super Simple Profit Strategy Up the Rents and Improve the GRMThere s a Time to Sell and a Time to BuyReal Estate Prices Go Up and DownRely on Cash Flow Not Speculation About the FutureOverpaying The Deadliest Investor SinInvesting Long Term for Future GrowthThoroughly Analyze the Deal Before Making an Offer Study the Numbers and Keep it SimpleUnit Cost and Rent-to-Value Ratios How to Determine if a property Will Be ProfitableJay s Income Property Analysis FormThe Basis for Negotiating a PurchaseThe Most Controversial ExpensesAlways Get a Second OpinionNegotiating Deals That Earn Big Profits Real Profits Don t Come from Playing GamesDeveloping the Right ApproachWinning over the Seller Leads to Winning NegationsDon t Play Games if You Want Real BenefitsThe Three Most Important Buyer ObjectivesYour Chief Negotiating ToolIt s Always Best to Let the Seller ParticipateVerify Actual ExpensesFavorite Concessions for Buyer to Ask ForTypical Negotiations Work Like ThisSuccessful Negotiations Put Money in Your PocketJay s Moneymaker Foo-Foo Fix-Up Strategy What to Fix and What to Leave Alone Don t Fix Things That Don t Pay You BackMost Buyers and Renter s Lack VisionWhat You See Counts for EverythingMy Two-Part Fix-Up StrategyWhat You See Is The Foo-FooThe Fo-Fo Cover-Up Strategy ExposedSizzle Fix-Up Offers the Biggest ProfitsHouses with All the Right Things WrongThe Fix-Up Revolution Made to Fit and Ready to UseHow to Estimate What the Job Will CostKnowing What to FixRecovering Fix-Up CostsKeeping Your Eye on the BallWhere Do All the Profits Come From Playing the Appreciation GameThe Magic of CompoundingFour Ingredients That Produce ProfitsLeverage Let s You Soar with the EaglesNot Everything Can Be Measured in DollarsBrain Compounding Can Increase Your WealthDon t Walk Away from Your Gold MineAdding New Profit Bulbs on My Money TreeMy First Profit Bulb and Best Source of Continuous IncomeFixer Jay s Favorite Profit BulbsThe Ingredients of a Super Deal The Hillcrest Cottages Creating Equity with Very Little CashHillcrest Cottages A Million-Dollar ProblemKnowing the Real Reason for Selling Is a Big AdvantageHillcrest Purchase Zero Cash DownThe Hillcrest Cottages TransactionFixing up Hillcrest CottagesSelling the Fixed-up Hillcrest CottagesRemoving the Risk from a No-Down SalePart Two. Creative FinancingThe Value of Seller Refinancing Borrowing Money from the Bank Is Good for the BankNew Bank Loan s Should Be an Investor s Last ChoiceBuyer s of Ugly Properties Get the Best TermsSeller Financing Is the Cadillac of All FinancingFinancing That Fits the Needs of Both PartiesBuying Back Your Own Debt Is Worth Big BucksInvesting with Others Small Partnerships Why Would Anyone Want a Partnership Partnerships Must Be Based on Mutual NeedsLooking for Partners The Selection ProcessHow to Find a Money PartnerJay s 60 40 Rule for Investing with a Money PartnerA Simple A-B Partnership PlanAlternate Partnership Plan Option to PurchaseA Tenants-in-Common PartnershipA Partnership Design is NegotiableThe Partnership Promise A Co-Ownership AgreementNever Invest Without a Written AgreementFinding Money When You Don t Have AnyA Sample Co-Ownership Agreement16. Sell Half the Property to Increase Your IncomeThe Best Computer in the World Doesn t Help Broke Investors50% Sales Can Greatly Improve Cash FlowThe Task is to Quickly Fix Up the Property and ADD ValueRents and Gross Multipliers Go Up TogetherHow to Market a Fixed Up Fixer PropertyConverting Negative Cash Flow into Positive17. Jay s 90 10 Money Partner Plan for Cash-Poor InvestorsHow the 90 10 Plan Works For Just 10% Cash I Receive 50% ProfitHigh Returns and Buying power Are Keys to PlanContributions Are Equal for Both InvestorsThe Main Street Apartments An Ideal 90 10 PartnershipGive More of Yourself Than You expect in Return Financing with Seller Subordination Seller Subordination A No-Money Technique That WorksLoan Terms are More Important That Interest CostThe Attraction of Southside PropertyAn Ideal Candidate for My30-30 Seller Subordination PlanWhere Does All the Money End Up How Does a Seller Benefit Advantages to the BuyerLenders Want Clean Sweet-Smelling PropertiesPaying Back the Seller s NoteNo Limit to Creativity in Real EstateVariable Rate Mortgages Offer Another OptionInvestor s Success Requires Borrowed MoneyMaking Yourself a Better BorrowerBankers Like Homeowners with Steady JobsBanker Enemy Number One An Unemployed Loan ApplicantJay s Five Basic Financial Documents for BorrowingFree Fix-Up Money form Uncle HUD More Than One Way to ProfitUncle Sam Provides money for Fixing Affordable HousesFix Up Your Rental Properties for Half the Normal PriceHow to Get Started from ScratchDealing with the Local Housing AuthorityNo Money Down Deals Are Very PossibleSelecting the Right PropertyMulti-Units Earn You More Profit for Each Dollar SpentWatch Out for the Hidden CostsHUD Assistance with My Viola CottagesCity Loans Work in Tandem with Grant FundsThe Flip Side Other Requirements by the CityThe City is a Flexible LenderThe Easiest Loan in TownThe Application Process Steps to Take with Properties You OwnIt Pays to Learn What Makes City Housing TickYou Help Yourself Most When You re Helping OthersBuying back Mortgage Debt for Bonus Profits Setting the Stage for Discount ProfitsLook for Property with Private MortgagesMost Sellers Would Rather Have CashWhen and How to Talk about Discounting the MortgageJay s Red Mustang StrategyWhere You Negotiating Skills Will Earn The Greatest ProfitTiming is Critical Buy Back the Mortgage After Purchasing the PropertyFactors That Motivate Sellers to Give DiscountsThe Top Reasons Why Mortgage Holders Sell for DiscountsFinding the Right Mortgages Is Well Worth the SearchNote-Buying Strategy Requires Detective WorkJay s Christmas Letter Generates Profits Year-RoundValue Like Beauty Is in the Eye of the Note HolderInvestors Need a Healthy Financial DietLandlording Skills Can Make You Very Wealthy We Do It for the MoneyThe Dream Working for YourselfTotal Control over Money Decisions is KeyProprietorship A MustSuccess Means Wearing Many HatsThe First Rule of Business Is to Define Your CustomerReasons Behind My Renting StrategyIncreasing My Odds for SuccessThe Value of Tenant CyclingKeys to Good Management Are Action and EnforcementYou Must Always Get the Money FirstGood Tenant Records are EssentialDon t Take Shortcuts with FormalitiesThe Application Form What You Need to KnowRental Contracts Don t Need to Be ComplicatedLarge Deposits Provide Added ProtectionTenant Urgency Not My UrgencyLandlords Must Know the LawOwners Should Do EvictionsRepairs and Customer ServiceObey the Laws of HabitabilityTips for Dealing with Tenants Your Tenants Are Your CustomersFewer Rules Are Best but Be Sure to Enforce ThemLimit Improvements to What the Rent Can SupportCut Down on Repair Visits Get the Details over the PhoneCollecting the Rents and Knowing Where to Draw the Line with DeadbeatsNoncontact Management Works Quite WellThe Big Picture and Long-Term Wealth Don t Get Bogged Down with Routine StuffJoin the Real World of Investing Finding a MentorThe Dream Alone Is Not EnoughLooking for Gold Buried in MudHigh Rent-to-Value Ratio Indicates ProfitsI didn t Grow Up to Be a LandlordAvoid Doom and Gloom like the PlagueRoadblocks Your Momentum Will Carry You Around ThemPositive Cash Flow Makes It All WorthwhileAppendix A. Income Property Analysis FormAppendix B. Typical Property SketchAppendix C. Sample Co-Ownership AgreementAppendix D. Resources for Real Estate InvestorsIndexAbout the AuthorPaperback 336 pages ISBN 9780071414333