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"If you're thinking about investing in apartment buildings, this is a good place to start." -Robert Bruss, Nationally Syndicated Columnist
- Create value
- Locate properties
- Negotiate successfully
- Sell profitably
A REVISED AND EXPANDED EDITION OF THE BESTSELLING GUIDE TO INVESTING IN APARTMENT BUILDING
Investing in real estate is a tried-and-true way to build assets, increase income, and prepare for retirement or the expense of college. With the proper guidance, a well-defined plan, and a little capital, anyone can profit by buying and selling rental properties.
Whether you're a first-time investor or a seasoned professional, this straightforward guide helps you map out your future, find apartment buildings at a fair price, finance purchases, and man-age your properties. If you're an active real estate investor focused on single-family properties, Steve Berges's step-by-step plan shows you how to make the jump to multifamily units.
The Complete Guide to Buying and Selling Apartment Buildings includes tax planning advice, case studies of real acquisitions, and appendixes that add detail to the big picture. This new Second Edition also includes a handy glossary of all the terms investors need to know, helpful sample forms that make paperwork quick and easy, and updated real estate market forecasts. Inside you'll find:
- Ten ways to create value
- Six ways to locate multifamily properties
- Five key ratios every investor should know
- Two crucial techniques that will help any investor save thousands
- Three ways to determine how much a piece of property is really worth
- Five cardinal rules of successful negotiations
- Six reasons sellers sell their property
- Four effective exit strategies
- Five keys to your success
- And much more
"If you're thinking about investing in apartment buildings, this is a good place to start." -Robert Bruss, Nationally Syndicated Columnist
- Create value
- Locate properties
- Negotiate successfully
- Sell profitably
A REVISED AND EXPANDED EDITION OF THE BESTSELLING GUIDE TO INVESTING IN APARTMENT BUILDING
Investing in real estate is a tried-and-true way to build assets, increase income, and prepare for retirement or the expense of college. With the proper guidance, a well-defined plan, and a little capital, anyone can profit by buying and selling rental properties.
Whether you're a first-time investor or a seasoned professional, this straightforward guide helps you map out your future, find apartment buildings at a fair price, finance purchases, and man-age your properties. If you're an active real estate investor focused on single-family properties, Steve Berges's step-by-step plan shows you how to make the jump to multifamily units.
The Complete Guide to Buying and Selling Apartment Buildings includes tax planning advice, case studies of real acquisitions, and appendixes that add detail to the big picture. This new Second Edition also includes a handy glossary of all the terms investors need to know, helpful sample forms that make paperwork quick and easy, and updated real estate market forecasts. Inside you'll find:
- Ten ways to create value
- Six ways to locate multifamily properties
- Five key ratios every investor should know
- Two crucial techniques that will help any investor save thousands
- Three ways to determine how much a piece of property is really worth
- Five cardinal rules of successful negotiations
- Six reasons sellers sell their property
- Four effective exit strategies
- Five keys to your success
- And much more
STEVE BERGER is a real estate investment professional with over twenty-five years of expe-rience. 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. He holds an MBA in finance and marketing from Rice University. His other books include The Complete Guide to Real Estate Finance for Investment Properties and The Complete Guide to Flipping Properties, both from Wiley.
Chapter 1 Introduction to Multifamily Ownership 1
Introduction 1
Holistic Approach 2
Background 4
Market Outlook 6
Regional Trends 9
Chapter 2 Advantages of Multifamily Ownership 13
Time and Efficiency 14
Market Liquidity 15
Transaction Costs 16
Concentration of Units 17
Management and Labor Considerations 17
Tax and Record Keeping Considerations 18
Divestiture of Property 18
Chapter 3 Bridging the Gap 21
Strategies 22
Leverage-The OPM Principle 23
Clearly Defined Objectives 24
Maslow's Hierarchy of Needs 27
Conquering Your Fears 29
Chapter 4 The Value-Play Strategy 35
Buy and Hold versus Buy and Sell 36
Ten Ways to Create Value 39
Diamonds in the Rough 47
How to Tell a Diamond from a Lump of Coal 61
Chapter 5 Establishing Your Niche and Locating Properties 69
Establishing Your Niche 70
Availability of Resources 70
Property Size 71
Property Age 74
Holding Period 79
Chapter 6 Six Ways to Locate Properties 85
Real Estate Brokers 86
Classified Advertisements 87
Industry-Specific Real Estate Publications 88
Local and National Web Sites 88
Associations and Real Estate Investment Clubs 89
Banks 89
Chapter 7 Financial Analysis 91
Valuation-How Much is That Property Really Worth? 92
Two Crucial Principles That Saved Me [...] 93
Valuation Methodologies 95
Financial Statements 102
Five Key Ratios You Must Know 117
The One-Minute Assessment 124
How to Read Between the Lines 125
Chapter 8 Case Study Analysis 129
Case Study 1: 52 Units in Flint-My Way or the Highway 129
Case Study 2: 12 Units in Saginaw-Below-Market Rents 142
Case Study 3: 16 Units in Beaumont-A Banker's REO 151
Case Study 4: 98 Units in Houston-Creating Synergism through Consolidation 162
Chapter 9 Negotiation Strategies and the Due Diligence Process 175
Five Cardinal Rules of Successful Negotiation 176
The Due Diligence Process 185
Chapter 10 Financing Your Acquisition 191
Traditional Financing Alternatives 192
Secondary Financing Alternatives 203
Additional Financing Considerations 206
Chapter 11 Closing the Deal 215
Closing Fundamentals 216
Closing Credits Can Add Up 219
Chapter 12 Managing Your Property 223
Hiring a Professional Property Management Firm 224
Your Role as a Strategic Manager 227
Expect the Unexpected 228
Chapter 13 Four Effective Exit Strategies 233
Outright Sale 234
Refinancing 235
Equity Partnership 245
Exchange of Properties 248
Combining Methods 249
Chapter 14 Five Keys to Your Success 255
Understanding Risk 256
Overcoming Fear of Failure 259
Accepting Responsibility 261
Willingness to Persevere 264
Defining Your Sense of Purpose 267
Appendix A: WWW.[...] 273
Appendix B: WWW.[...] 275
Glossary 277
Index 297
| Erscheinungsjahr: | 2004 |
|---|---|
| Fachbereich: | Betriebswirtschaft |
| Genre: | Wirtschaft |
| Rubrik: | Recht & Wirtschaft |
| Medium: | Taschenbuch |
| Inhalt: | Kartoniert / Broschiert |
| ISBN-13: | 9780471684053 |
| ISBN-10: | 0471684058 |
| Sprache: | Englisch |
| Einband: | Kartoniert / Broschiert |
| Autor: | Berges, Steve |
| Auflage: | 2nd edition |
| Hersteller: | Wiley |
| Maße: | 236 x 193 x 18 mm |
| Von/Mit: | Steve Berges |
| Erscheinungsdatum: | 20.12.2004 |
| Gewicht: | 0,562 kg |
STEVE BERGER is a real estate investment professional with over twenty-five years of expe-rience. 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. He holds an MBA in finance and marketing from Rice University. His other books include The Complete Guide to Real Estate Finance for Investment Properties and The Complete Guide to Flipping Properties, both from Wiley.
Chapter 1 Introduction to Multifamily Ownership 1
Introduction 1
Holistic Approach 2
Background 4
Market Outlook 6
Regional Trends 9
Chapter 2 Advantages of Multifamily Ownership 13
Time and Efficiency 14
Market Liquidity 15
Transaction Costs 16
Concentration of Units 17
Management and Labor Considerations 17
Tax and Record Keeping Considerations 18
Divestiture of Property 18
Chapter 3 Bridging the Gap 21
Strategies 22
Leverage-The OPM Principle 23
Clearly Defined Objectives 24
Maslow's Hierarchy of Needs 27
Conquering Your Fears 29
Chapter 4 The Value-Play Strategy 35
Buy and Hold versus Buy and Sell 36
Ten Ways to Create Value 39
Diamonds in the Rough 47
How to Tell a Diamond from a Lump of Coal 61
Chapter 5 Establishing Your Niche and Locating Properties 69
Establishing Your Niche 70
Availability of Resources 70
Property Size 71
Property Age 74
Holding Period 79
Chapter 6 Six Ways to Locate Properties 85
Real Estate Brokers 86
Classified Advertisements 87
Industry-Specific Real Estate Publications 88
Local and National Web Sites 88
Associations and Real Estate Investment Clubs 89
Banks 89
Chapter 7 Financial Analysis 91
Valuation-How Much is That Property Really Worth? 92
Two Crucial Principles That Saved Me [...] 93
Valuation Methodologies 95
Financial Statements 102
Five Key Ratios You Must Know 117
The One-Minute Assessment 124
How to Read Between the Lines 125
Chapter 8 Case Study Analysis 129
Case Study 1: 52 Units in Flint-My Way or the Highway 129
Case Study 2: 12 Units in Saginaw-Below-Market Rents 142
Case Study 3: 16 Units in Beaumont-A Banker's REO 151
Case Study 4: 98 Units in Houston-Creating Synergism through Consolidation 162
Chapter 9 Negotiation Strategies and the Due Diligence Process 175
Five Cardinal Rules of Successful Negotiation 176
The Due Diligence Process 185
Chapter 10 Financing Your Acquisition 191
Traditional Financing Alternatives 192
Secondary Financing Alternatives 203
Additional Financing Considerations 206
Chapter 11 Closing the Deal 215
Closing Fundamentals 216
Closing Credits Can Add Up 219
Chapter 12 Managing Your Property 223
Hiring a Professional Property Management Firm 224
Your Role as a Strategic Manager 227
Expect the Unexpected 228
Chapter 13 Four Effective Exit Strategies 233
Outright Sale 234
Refinancing 235
Equity Partnership 245
Exchange of Properties 248
Combining Methods 249
Chapter 14 Five Keys to Your Success 255
Understanding Risk 256
Overcoming Fear of Failure 259
Accepting Responsibility 261
Willingness to Persevere 264
Defining Your Sense of Purpose 267
Appendix A: WWW.[...] 273
Appendix B: WWW.[...] 275
Glossary 277
Index 297
| Erscheinungsjahr: | 2004 |
|---|---|
| Fachbereich: | Betriebswirtschaft |
| Genre: | Wirtschaft |
| Rubrik: | Recht & Wirtschaft |
| Medium: | Taschenbuch |
| Inhalt: | Kartoniert / Broschiert |
| ISBN-13: | 9780471684053 |
| ISBN-10: | 0471684058 |
| Sprache: | Englisch |
| Einband: | Kartoniert / Broschiert |
| Autor: | Berges, Steve |
| Auflage: | 2nd edition |
| Hersteller: | Wiley |
| Maße: | 236 x 193 x 18 mm |
| Von/Mit: | Steve Berges |
| Erscheinungsdatum: | 20.12.2004 |
| Gewicht: | 0,562 kg |
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