Details

Multi-Family Millions


Multi-Family Millions

How Anyone Can Reposition Apartments for Big Profits
1. Aufl.

von: David Lindahl

20,99 €

Verlag: Wiley
Format: EPUB
Veröffentl.: 13.06.2012
ISBN/EAN: 9780470428351
Sprache: englisch
Anzahl Seiten: 272

DRM-geschütztes eBook, Sie benötigen z.B. Adobe Digital Editions und eine Adobe ID zum Lesen.

Beschreibungen

<i>Multi-Family Millions</i> offers expert advice for investors who want to make the transition from single-family homes to more profitable multi-family units. Successful real estate investor David Lindahl shows you how to find troubled properties that are ripe for quick profits, how to fix or flip those properties, and how to re-sell at maximum value. With a proven step-by-step system for managing each stage of the process, this book shows you how to get started in moneymaking multi-family units?even while you work your day job.
<p>Acknowledgments xiii</p> <p><b>Chapter 1</b></p> <p>A Different Approach that Creates Huge Real Estate Profits 1</p> <p>How This Book is Different 2</p> <p><b>Chapter 2</b></p> <p>Why Invest in Apartments? 9</p> <p>Apartments Set You Free 10</p> <p>Let’s Explode the <i>No-Money-Down </i>Myth 13</p> <p>More Myths about Apartment Investing 14</p> <p>This is Not a Myth, This is Reality: They’ll Laugh First, and You’ll Laugh Last 18</p> <p>Opportunity is Everywhere 20</p> <p>A Brief Overview of the Different Kinds of Multi-Family Housing 21</p> <p>Burned-Out Landlords are Great Sources for Deals 23</p> <p>In the Next Chapter 24</p> <p><b>Chapter 3</b></p> <p>An Overview of How to Get Your First Deal 25</p> <p>The 14 Steps to Acquiring a Property 26</p> <p>1. Decide What Size Buildings You Want to Start Investing In 26</p> <p>2. Decide Where You Want to Invest 27</p> <p>3. Determine What Types of Multi-Family Properties You’ll Buy 29</p> <p>4. Put Your Team in Place 30</p> <p>5. Market to Get Your Deal 31</p> <p>6. Analyze the Deals 31</p> <p>7. Create the Offer or Letter of Intent 32</p> <p>8. Negotiate the Deal 33</p> <p>9. Create and Sign the Purchase-and-Sale Agreement 33</p> <p>10. Do Your Due Diligence 35</p> <p>11. Renegotiate the Deal 37</p> <p>12. Start Your Financing 38</p> <p>13. Choose a Management Company 40</p> <p>14. Close the Deal 41</p> <p>Option 1: Buy and Flip 42</p> <p>Option 2: Buy and Hold 46</p> <p>Option 3: Buy, Reposition, and Sell 47</p> <p>In the Next Chapter 53</p> <p><b>Chapter 4</b></p> <p>Where to Find Enormous Profits from Repositioning 55</p> <p>It’s All about Raising the NOI 57</p> <p>Problems to Look For 58</p> <p>Making a Change 60</p> <p>Then there’s the Perception 61</p> <p>Send the Message that Change is Happening 62</p> <p>The Property Cycle 64</p> <p>A Common Repositioning Mistake 67</p> <p>The Two Main Reasons Why Repositions Fail 68</p> <p>The City Cycle 69</p> <p>Revitalization Zones 70</p> <p>In the Next Chapter 73</p> <p><b>Chapter 5</b></p> <p>How to Attract Deals to You with a Minimum of Time and Money 75</p> <p>Principle #1: Make It Easy to Do Business with You 75</p> <p>Principle #2: Do What You Say You Will Do 77</p> <p>Principle #3: Don’t Be a Pain in the Butt 78</p> <p>Inexpensive Deal-Attraction Techniques 79</p> <p>Go Directly to the Owners 84</p> <p>Other Techniques that Cost Little but Bring Big Results 88</p> <p>Go After the <i>Don’t Wanters </i>90</p> <p>Cruising for Dollars 91</p> <p>Another Way to Cruise 92</p> <p>Oh So Many Ways to Get Deals 93</p> <p>Don’t Make These Three Mistakes 93</p> <p>In the Next Chapter 95</p> <p><b>Chapter 6</b></p> <p>Separating the Gold Mines from the Land Mines 97</p> <p>The Power of Negative Thinking 97</p> <p>Profiting from Value Plays 98</p> <p>How to Find—and Profit from—Burned-Out Landlords 99</p> <p>Profiting from Management Nightmares 100</p> <p>Properties that Need Repair: Where the Gold is 101</p> <p>Avoid Certain Repairs 102</p> <p>Solving High-Vacancy Problems—Once and for All 104</p> <p>How I Filled 400 Units 105</p> <p>How to Raise Rents at Takeover and Not Lose Your Tenants 106</p> <p>How to Raise Rents Steadily While Keeping Your Tenants 107</p> <p>When It Makes Sense to Clean House 109</p> <p>In the Next Chapter 111</p> <p><b>Chapter 7</b></p> <p>How to Analyze a Property Using the Fewest Numbers for the Most Profit 113</p> <p>Back to the Cap Rate 114</p> <p>Analyzing Your First Deal 116</p> <p>How Do We Know It Really is a Deal? 118</p> <p>Current Management: When to Hold ’Em and When to Fold ’Em 119</p> <p>What Matters the Very Most to Tenants 122</p> <p>Is Someone Putting Lipstick on a Pig? 123</p> <p>Let’s Look Inside 125</p> <p>Market Area Inspection 126</p> <p>The Sidewalk Tells the Story 128</p> <p>But What If My Numbers are Off ? 129</p> <p>Don’t Get Depressed on Me! 129</p> <p>In the Next Chapter 130</p> <p><b>Chapter 8</b></p> <p>Where to Get the Money for All Your Deals 131</p> <p>Why Banks Like Apartments 132</p> <p>Three Flavors of Lenders 133</p> <p>Conduits 136</p> <p>When to Use a Mortgage Broker 136</p> <p>Putting Your Package Together 137</p> <p>How to Get Partners to Fund Your Deals 138</p> <p>The Big, Profitable World of Private Money 139</p> <p>Debt versus Equity Deals 143</p> <p>In the Next Chapter 145</p> <p><b>Chapter 9</b></p> <p>Twelve Negotiating Secrets of the Pros 147</p> <p>1. Be Prepared 147</p> <p>2. Understand the Other Party’s Needs 149</p> <p>3. Set Your Goals and Rank Them in Order of Priority 150</p> <p>4. Decide What Your Strike Price is and Don’t Exceed It 152</p> <p>5. Anticipate the Next Move and Don’t Avoid Haggling 153</p> <p>6. Remain Calm and Unemotional 154</p> <p>7. Build Rapport and Trust 155</p> <p>8. Create a Win/Win Environment 155</p> <p>9. Remain Flexible and Open to Options 156</p> <p>10. When the Seller Speaks, Listen Closely and Delay Your Response 157</p> <p>11. Demonstrate Empathy 158</p> <p>12. Silence is Golden 158</p> <p>In the Next Chapter 160</p> <p><b>Chapter 10</b></p> <p>The 80/20 Rule of Rehabbing 161</p> <p>Exterior Improvements 162</p> <p>Interior Improvements 166</p> <p>How to Get the Most from Insurance Claims 170</p> <p>Dealing with Contractors 171</p> <p>In the Next Chapter 176</p> <p><b>Chapter 11</b></p> <p>How to Avoid Being a Landlord: Secrets to Hiring Great Property Managers 177</p> <p>How to Find the Best Managers 179</p> <p>What You Should Expect to Pay 182</p> <p>Repositioning Managers: A Special Breed 187</p> <p>How to Get Contractors to Beg You for Business 190</p> <p>Managing the Manager: Reports You Should Get Regularly 191</p> <p>You’re an Asset Manager 194</p> <p>In the Next Chapter 194</p> <p><b>Chapter 12</b></p> <p>Reselling for Huge Profits 195</p> <p>Return on Equity 196</p> <p>Is Your Property Stabilized? 198</p> <p>Get Your Financial House in Order 199</p> <p>Get Your Physical House in Order 201</p> <p>Time to Tell the World 202</p> <p>Your Obligations as a Seller 205</p> <p>In the Next Chapter 205</p> <p><b>Chapter 13</b></p> <p>The 10 Biggest Mistakes Repositioners Make, and How to Avoid Them 207</p> <p>Mistake #1: Running Out of Money During a Repositioning 207</p> <p>Mistake #2: Leasing Up Too Soon 210</p> <p>Mistake #3: Not Using Licensed Contractors 211</p> <p>Mistake #4: Not Getting Three Bids 212</p> <p>Mistake #5: Assuming the Lowest Bid is the Best Bid 213</p> <p>Mistake #6: Not Going after Private Money Sooner 214</p> <p>Mistake #7: Not Marketing Consistently 215</p> <p>Mistake #8: Discriminating 215</p> <p>Mistake #9: Not Having Signing Authority on Bank Accounts 216</p> <p>Mistake #10: Buying a Property with Environmental Issues 217</p> <p>Mistake #11: Inspecting the Property Yourself 218</p> <p>Mistake #12: Managing the Property Yourself 219</p> <p>Mistake #13: Using Fill-in-the-Blank Legal Forms 219</p> <p>Mistake #14: Dealing with Tenants 220</p> <p>Mistake #15: Thinking You Know It All 221</p> <p>In the Next Chapter 222</p> <p><b>Chapter 14</b></p> <p>Creating Your Success Team 223</p> <p>Real Estate Brokers 224</p> <p>The Property Manager 225</p> <p>Attorneys 227</p> <p>Property Inspector 229</p> <p>Appraisers 229</p> <p>Lender 230</p> <p>Contractors 230</p> <p>Insurance Agent 231</p> <p>Demographer 232</p> <p>1031 Specialists 233</p> <p>Accountant 235</p> <p>In the Next Chapter 236</p> <p><b>Chapter 15</b></p> <p>Next Steps on Your Road to Wealth 237</p> <p>How Impatient are You? 239</p> <p>The Absolute Shortest Shortcut to Real Estate Wealth 240</p> <p>Free Bonus Materials for You 241</p> <p>Index 243</p>
<p><b>DAVID LINDAHL</b> is an accomplished real estate investor who has been involved in more than 500 deals and controls more than $140 million in real estate. He is principal owner of The Lindahl Group, a real estate investment company that acquires properties in emerging markets across the nation. He operates RE Mentor (www.rementor.com), a publishing and seminar company that shows investors how to profit from all forms of real estate investing. He is also a popular speaker and expert at real estate investment clubs, conventions, and seminars throughout the country. For more information, please visit www.multifamilymillions.com.
<p><b>Make Money While You Have a Day Job...and Never Be a Landlord!</b> <p><b>Discover why apartment houses are the best investment in today's real estate market</b> <p>The key to making big profits in real estate is to go against the traditional wisdom. When the masses are buying, it's often time to sell. When everyone is selling, there are huge bargains to be found. In <i>Multi-Family Millions,</i> contrarian real estate investor Dave Lindahl shows you how to read the market cycle, and explains why <i>now</i> is a great time to get started investing in apartment houses—even if it's your first time investing in real estate and you have no money for a down payment. <p>With a simple two- to five-unit multi-family property, or a thirty-unit apartment building, you can implement the same strategies Lindahl used in over 500 deals to build his own real estate fortune: <ul> <li>How to <i>reposition</i> a multi-family property for maximum profit</li> <li>Where to get the money for your first deal</li> <li>How to own an apartment house and never deal with tenants</li> <li>Ten bad mistakes rehabbers make</li> <li>Three proven principles for attracting great deals on multi-family properties</li> <li>When and how to resell for huge profits</li> </ul> <p>Conventional wisdom says real estate investors should start with single-family houses. Discover why it's easier and much more profitable to invest in multi-families!

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