Make Money with Affordable Apartment Buildings and Commercial Properties, 2nd Edition

Product Details

Make Money with Affordable Apartment Buildings and Commercial Properties, Second Edition, shows you how to build wealth with affordable multi-unit residential and commercial buildings. Low-priced income properties can yield higher returns than single-family homes?especially if you manage them yourself. This book shows you how to find, assess, buy, and manage apartment buildings, retail offices, self-storage, and other overlooked investment alternatives. In today?s tough housing market, these properties offer great returns.

Biographical Note

Gary W. Eldred, PhD, has investedsuccessfully in real estate for morethan twenty-five years and has servedon the graduate business school faculty at Stanford University and the University of Virginia. One of America's top-sellingreal estate authors, Eldred's other books include Investing in Real Estate, Fifth Edition, Trump University Real Estate 101, and Make Money with Flippers, Fixers, and Renovations, Second Edition, all from Wiley.

Table of Contents

• Introduction: How to Start.
  • Develop Your Analytical Abilities.
  • Develop an Entrepreneurial Spirit.
  • Uncommon, Yet Essential.
  • Entrepreneurs Create Value for Themselves and Their Customers (a.k.a. Tenants).
  • Market Savvy: Systematic Strategic Thinking.
• 1. Profit with Commercial and Multifamily Properties.
  • Advantages of Commercial and Multifamily Properties.
  • Cost of Acquisition.
  • Cash Flows Relative to Price.
  • Search Time.
  • Management.
  • Trade Up Tax Free.
  • Owner Will Carry Financing (OWC).
  • Create Value.
  • Summing Up.
• 2. Craft Your Market Strategy.
  • It All Depends.
  • A Strategy of Your Own.
  • PVP: The One Constant Rule.
  • The DUST Strategic Framework: Questions to Answer.
  • Entrepreneur Objectives: Know Thyself.
  • Talents, Inclinations, and Resources.
  • Assess Your Finances.
  • Frame Your Due Diligence.
  • Identify and Fully Describe the Physical Property.
  • Understand Your Bundle of Rights and Restrictions.
  • Where Should You Invest?
  • Time Period.
• 3. Where's the Local Economy Headed?
  • Economic Base Matters Greatly
  • Alamo, California (San Francisco Bay Area) versus Terre Haute, Indiana.
  • Authors Neglect Economic Base.
  • Benefit from the Lessons Learned.
  • Where to Get Data.
  • Will the Population Grow?
  • Enclaves of Existing and Potential Growth.
  • Find Out the Actual Numbers.
  • Beware of False Negatives.
  • Is the Number of Jobs Increasing?
  • What Was the San Diego Connection?
  • Forecasting Recovery.
  • Cost of Running a Business.
  • Businesses and Employment Migrate to Lower-Cost Cities, States, and Countries.
  • Cost of Living for Employees.
  • Quality of Life (QOL).
  • Quality of Life Also Attracts Wealth.
  • Community Attitudes and Actions.
  • Entrepreneurial Spirit.
  • Concluding Remarks.
• 4. Outperform the Competition.
  • The Competitive Battle.
  • Four Good Reasons to Inventory, Inspesct, and Critically Review Competitors.
  • Where to Invest
  • Market Information Gives You Negotiating Power and Confidence.
  • Searching for a Preferred Value Proposition (PVP).
  • Constructing Your Financial Pro Formas.
  • Identify Your Competitors.
  • Quickly Adapt to Change.
  • When Markets Tighten.
  • More Practical Implications.
  • What to Look For: The Location.
  • Aesthetics.
  • School Districts.
  • Property Taxes and Services.
  • Crime Rates.
  • Accessibility.
  • Trendiness
  • Public Transportation.
  • Who Are the Residents and Recent Homebuyers and Tenants?
  • Site Features.
  • The Exterior of the Building.