Multi-Family Millions How Anyone Can Reposition Apartments for Big Profits

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Edition: 1st
Format: Hardcover
Pub. Date: 2008-04-25
Publisher(s): Wiley
List Price: $31.50

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Summary

The book is about three main multi-family rental property investing strategies: How to identify troubled multi-family rental properties that are ripe for repositioning and negotiate their purchase; How investors can either flip that property for fast cash, or repair it. In the latter case, I'll show them how to determine what needs to be done, how much it will cost, and how to get it finished with a minimum of cost and effort on their part; and How to re-sell the property for maximum value. KEY BENEFITS TO THE READER: Why there is less competition in multi-family investing. Why more units under one roof actually reduces your investment risk. How to make more money doing fewer deals (especially attractive to the time-challenged). How to do real estate deals without the hassles of being a landlordand how to hire a dream team of contractors to do fixer-upper work, so you don't have to How to build wealth on a part-time basis. How to smoke out the deals that require little or no money of your own...and how it's possible sometimes to be paid to do a deal. Step-by-step systems for each phase of the process: identifying the property, determining the best exit strategy (flip or repair); securing financing if necessary; getting it under contract; estimating repair costs, dealing with contractors successfully (I'm also a contractor), and completing the resale of the property. How to increase the value of the property by making simple repairs. How to get six figure checks on a regular basis. Three strategies you can use right away, depending on your circumstances: The "Maximum Cash" strategy for making the most money on a property; the "Minimum Time" strategy for doing your first deal while you have a day job; and the "No Down Payment" strategy for getting a deal done with no money out of your pocket.

Author Biography

David Lindahl 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.

Table of Contents

A Different Approach that Creates Huge Real Estate Profits
How This Book is Different
Why Invest in Apartments?
Apartments Set You Free
Let's Explode the No-Money-Down Myth
More Myths about Apartment Investing
This Is Not a Myth; This Is Reality: They'll Laugh First, And You'll Laugh Last
Opportunity is Everywhere
A Brief Overview of the Different Kinds of Multi-Family Housing
Burned-Out Landlords Are Great Sources For Deals
In the Next Chapter
An Overview of How to Get Your First Deal
The 14 Steps to Acquiring a Property
Decide What Size Buildings You'll Start Investing In
Decide Where You Want To Invest
Determine What Types Of Multi-Family Properties You'll Buy
Put Your Team In Place
Market to Get Your Deal
Analyze the Deal
Create the Offer or Letter of Intent
Negotiate the Deal
Create and Sign the Purchase and Sale Agreement
Do Your Due Diligence
Renegotiate the Deal
Start Your Financing
Choose a Management Company
Close the Deal
Option 1: Buy and Flip
Option 2: Buy and Hold
Option 3: Buy, Reposition and Sell
In the Next Chapter
Where to Find Enormous Profits from Repositioning
It's All About Raising the NOI
Problems to Look For
Making a Change
Then there's the Perception
Send the Message that Change is Happening
The Property Cycle
A Common Repositioning Mistake
The Two Main Reasons Why Repositions Fail
The City Cycle
Revitalization Zones
In the Next Chapter
How to Attract Deals to You with a Minimum of Time and Money
Principle #1: Make it Easy to Do Business with You
Principle #2: Do What You Say You Will Do
Principle #3: Don't Be a Pain In the Butt
Inexpensive Deal-Attraction Techniques
Go Directly to the Owners
Other Techniques that Cost Little but Bring Big Results
Go After the Don't Wanters
Cruising for Dollars
Another Way to Cruise
Oh So Many Ways to Get Deals
Don't Make These Three Mistakes
In the Next Chapter
Separating the Gold Mines from the Land Mines
The Power of Negative Thinking
Profiting from Value Plays
How to Find-and Profit from-Burned-Out Landlords
Profiting from Management Nightmares
Properties That Need Repair: Where the Gold Is
Avoid Certain Repairs
Solving High-Vacancy Problems-Once and For All
How I Filled 400 Units
How to Raise Rents at Takeover and Not Lose Your Tenants
How to Raise Rents Steadily While Keeping Your Tenants
When It Makes Sense to Clean House
In the Next Chapter
How to Analyze a Property Using the Fewest Numbers for the Most Profit
Back to the Cap Rate
Analyzing Your First Deal
How Do We Know It Really Is a Deal?
Current Management: When to Hold' em and When to Fold 'em
What Matters the Very Most to Tenants
Is Someone Putting Lipstick on a Pig?
Let's Look Inside
Market Area Inspection
The Sidewalk Tells the Story
But What If My Numbers are Off?
Don't Get Depressed on Me! In the Next Chapter
Where to Get the Money for All Your Deals
Why Banks Like Apartments
Three Flavors of Lenders
Conduits
When to Use a Mortgage Broker
Putting Your Package Together
How to Get Partners to Fund Your Deals
The Big, Profitable World of Private Money
Debt Versus Equity Deals
In the Next Chapter
Twelve Negotiating Secrets of the Pros
Table of Contents provided by Publisher. All Rights Reserved.

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