Cover image for Real Estate Investing For Dummies, 4th Edition

Real Estate Investing For Dummies, 4th Edition

Author Eric Tyson , Robert S. Griswold
Release Date: 2019/11/01
ISBN: 9781119601760
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Make real estate part of your investing strategy

Do you want to get involved in real estate investing, but aren't quite sure where to start? This is your go-to resource for making sense of the subject. Written by industry experts Eric Tyson and Robert Griswold, this new edition of Real Estate Investing For Dummies offers timely, proven, practical, and actionable advice to overcome the challenges of the market and keep yourself one step ahead of the competition. 

With the help of this straightforward and time-tested information, you'll get the know-how to wisely and confidently make smart, sound, and informed real estate investing decisions that will reap big rewards. Highlights include:

  • The Tax Reform and Jobs Act bill that took effect in 2018 
  • The best types of investment properties for different types of investors 
  • NNN (triple nets) investments and REITs/TICs 
  • Tech applications to support property management operations and accounting

A step-by-step primer for preparing to buy, identifying the property, due diligence, closing the transaction, leasing the property and ongoing operations and property management. 

There’s no time like the present to jump into the real estate market—as first-time investors or experienced investors who want to brush up on the changes that have occurred in the market.

Table of Contents

  1. Cover
  2. Introduction
    1. About This Book
    2. Foolish Assumptions
    3. Icons Used in This Book
    4. Beyond This Book
    5. Where to Go from Here
  3. Part 1: Getting Started with Real Estate Investing
    1. Chapter 1: Evaluating Real Estate as an Investment
    2. Understanding Real Estate’s Income- and Wealth-Producing Potential
    3. Recognizing the Caveats of Real Estate Investing
    4. Comparing Real Estate to Other Investments
    5. Determining Whether You Should Invest in Real Estate
    6. Fitting Real Estate into Your Plans
    7. Chapter 2: Covering Common Real Estate Investments
    8. Identifying the Various Ways to Invest in Residential Income Property
    9. Surveying the Types of Residential Properties You Can Buy
    10. Considering Commercial Real Estate
    11. Buying Undeveloped or Raw Land
    12. Chapter 3: Considering Foreclosures, REOs, Probate Sales, and More
    13. Finding Foreclosures and REOs
    14. Getting a Jump on Foreclosure and REO Competition with Short Sales
    15. Contemplating Lease Options
    16. Probing Probate Sales and Auctions
    17. Chapter 4: Taking the Passive Approach
    18. Using Real Estate Investment Trusts
    19. Understanding Tenants in Common
    20. Comprehending Triple Net Properties
    21. Eyeing Notes and Trust Deeds
    22. Looking at Tax Lien Certificate Sales
    23. Considering Limited Partnerships
    24. Chapter 5: Fast Money: Small Down Payments and Property Flips
    25. Purchasing with No Money Down
    26. Buying, Fixing, and Flipping or Refinancing
    27. Chapter 6: Building Your Team
    28. Knowing When to Establish Your Team
    29. Adding a Tax Advisor
    30. Finding a Financial Advisor
    31. Lining Up a Lender or Mortgage Broker
    32. Working with Brokers and Agents
    33. Considering an Appraiser
    34. Finding an Attorney
  4. Part 2: How to Get the Money: Raising Capital and Financing
    1. Chapter 7: Identifying Sources of Capital
    2. Calculating the Costs of Admission
    3. Rounding Up the Required Cash by Saving
    4. Overcoming Down Payment Limitations
    5. Chapter 8: Financing Your Property Purchases
    6. Taking a Look at Mortgage Options
    7. Reviewing Other Common Fees
    8. Making Some Mortgage Decisions
    9. Borrowing Against Home Equity
    10. Getting a Seller-Financed Loan
    11. Mortgages That Should Make You Think Twice
    12. Chapter 9: Securing the Best Mortgage Terms
    13. Shopping for Mortgages
    14. Solving Potential Loan Predicaments
  5. Part 3: Finding and Evaluating Properties
    1. Chapter 10: Location, Location, Value
    2. Deciding Where to Invest
    3. Finding Properties to Add Value
    4. Evaluating a Region: The Big Picture
    5. Investigating Your Local Market
    6. Evaluating Neighborhoods
    7. Mastering Seller’s and Buyer’s Markets
    8. Chapter 11: Understanding Leases and Property Valuation
    9. The Importance of Evaluating a Lease
    10. Reviewing a Lease: What to Look For
    11. Understanding the Economic Principles of Property Valuation
    12. Reviewing the Sources of Property-Valuing Information
    13. Establishing Value Benchmarks
    14. Chapter 12: Valuing Property through Number Crunching
    15. Understanding the Importance of Return on Investment
    16. Figuring Net Operating Income
    17. Calculating Cash Flow
    18. Surveying Lease Options
    19. The Three Basic Approaches to Value
    20. Reconciling the Three Results to Arrive at a Single Value
    21. Putting It All Together: Deciding How Much to Pay
    22. Chapter 13: Preparing and Making an Offer
    23. Negotiating 101
    24. Preparing to Make Your Offer: Understanding Contract Basics
    25. Addressing Key Provisions in the Purchase Agreement
    26. Presenting the Purchase Agreement
    27. Chapter 14: Due Diligence, Property Inspections, and Closing
    28. Opening Escrow
    29. Conducting Formal Due Diligence
    30. Negotiating Credits in Escrow
    31. Determining How to Hold Title
    32. Closing the Transaction
  6. Part 4: Operating the Property
    1. Chapter 15: Landlording 101
    2. Hiring Management Help: Yes or No?
    3. Finding and Hiring Pros
    4. Testing for Environmental Issues
    5. Deciding on Rental Policies
    6. Working with Existing Tenants upon Property Acquisition
    7. Finding Stable, Trustworthy Tenants
    8. Renovating and Upgrading to Add Value
    9. Chapter 16: Protecting Your Investment
    10. Developing a Risk Management Plan
    11. Getting the Insurance You Need
    12. Chapter 17: Recordkeeping and Accounting
    13. Organizing Your Records
    14. Knowing What to Account For
    15. Doing Your Accounting Manually
    16. Using Software
    17. Chapter 18: Looking at Tax Considerations and Exit Strategies
    18. Understanding the Tax Angles
    19. Considering Exit Strategies
    20. Taking in a Final Note on Taxes on Your Profits
  7. Part 5: The Part of Tens
    1. Chapter 19: Ten Ways to Increase a Property’s Value
    2. Raise Rents
    3. Reduce Turnover
    4. Consider Lease Options
    5. Develop a Market Niche
    6. Maintain and Renovate
    7. Cut Back Operating Expenses
    8. Scrutinize Property Tax Assessments
    9. Refinance and Build Equity Quicker
    10. Take Advantage of Tax Benefits
    11. Be Prepared to Move On
    12. Improve Management
    13. Chapter 20: Ten Steps to Real Estate Investing Success
    14. Build Up Savings and Clean Up Credit
    15. Buy Property in the Path of Progress
    16. Buy the Right Property at the Best Price Possible
    17. Renovate Property the Right Way
    18. Keep Abreast of Market Rents
    19. Recover Renovation Dollars through Refinancing
    20. Reposition Property with Better Tenants
    21. Become or Hire a Superior Property Manager
    22. Refinance or Sell and Defer Again
    23. Consolidate Holdings into Larger Properties
  8. Appendix: Sample Purchase Agreement
  9. Index
  10. About the Authors
  11. Advertisement Page
  12. Connect with Dummies
  13. End User License Agreement
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