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Tables of Contents for Secrets of a Millionaire Real Estate Investor
Chapter/Section Title
Page #
Page Count
Acknowledgments
xi
Introduction: Your Foundation for Financial Independence
xiii
Real Estate Can Make You a Millionaire
xiv
If It Works Once, Why Not Do It Again?
xv
Turning Properties into Profits
1
28
Buying and Flipping
2
4
Is Buying and Flipping Fraudulent?
5
1
Buying, Rehabbing, and Selling
6
1
Buying and Holding as a Landlord
7
2
More Ways to Make Money in Real Estate
9
9
Lease-Optioning
10
2
Sandwich Leasing
12
1
Mortgage Brokering
13
1
Tax Certificates Brokering
14
1
Private Money Brokering
15
1
Becoming a Real Estate Agent
16
1
Consulting
17
1
Managing Property
17
1
Forming a Maintenance Company
18
2
Use Creative Selling to Buy and Create Paper
19
1
Setting Your Goals and Making Your Plan
20
3
Take a Financial Snapshot
22
1
Assess Your Personality
23
1
Determine How Much Money and Time You Have to Invest
23
1
Robert's Rules for Ethical Real Estate Investing
23
6
Ten Ways to Find Profitable Properties
29
27
Local Newspapers
31
1
Driving for Dollars
32
2
Foreclosures
34
5
Deed of Trust or Mortgage State?
37
1
Public Records Can Be Your Gold Mine
38
1
Auctions
39
3
Estate Sales
42
1
Tax Sales
42
1
Bird Dogs
43
2
Advertising
45
4
Promote Yourself
45
1
Use Direct Mail to Spread the Word
46
1
Pass Out and Post Flyers
47
1
Offer a Free Educational Seminar
48
1
Real Estate Agents
49
1
Real Estate Investment Associations
50
1
Network
50
6
Use Letters and Phone Calls to Locate Sellers and Buyers
53
3
Analyzing Properties
56
13
What Is a Good Deal?
58
1
Decide Where to Concentrate Your Efforts
59
1
How to Analyze Properties
60
9
Confirm the Property's Value
60
1
Determine If the Property Will Sell
61
1
Inspect the Property Carefully
62
1
Check the Utilities
62
1
Check Zoning Laws
63
1
Research the Title
63
3
Confirm Your Assumptions with Agents and Lenders
66
1
Review Profit and Loss Statements
66
1
Run a Cash Flow Projection
66
1
Explore Financing Options
66
1
Consider Who Will Buy the Property
67
1
Stick to Your Guns
67
2
Financing Deals
69
19
Bank Financing
71
6
Design a Successful Financing Package
73
2
Types of Mortgages
75
2
Working with Private Investors
77
2
Seller Financing
79
4
Assumable Loans and Mortgages
80
2
Wraparound Mortgages
82
1
Contract for Deed
83
1
Other Options for Borrowing Money
83
2
No Money Down-Difficult, Yet Possible
85
3
Controlling, Holding, and Protecting Real Estate
88
25
How to Negotiate a Contract and Control Property
89
9
``Weasel'' Clauses: The Key to Reducing Risk
94
2
More Important Points about Contracts
96
1
Don't Allow Your Contract to Be Shopped
97
1
File Your Contract to Protect Your Claim
97
1
How to Hold a Property
98
9
Sole Proprietorship
99
1
Corporations
99
2
General Partnership
101
1
Limited Partnership
102
1
Limited Liability Company
102
1
Land Trusts
103
4
How to Protect a Property
107
6
Title Insurance
107
2
Liability and Property and Casualty Insurance
109
4
How to Sell a Property
113
18
Preparing a Property for Sale
114
4
Don't Overspend!
117
1
Finding and Working with Contractors
118
4
Identifying and Attracting Potential Buyers
122
6
The Postcard Strategy
124
2
Follow Up on Prospects
126
1
Open Houses
126
2
Once You Find a Buyer
128
3
Offer Creative Financing Alternatives
130
1
The Landlord Opportunity: Buying, Holding, and Renting Property
131
15
How to Be the Best Landlord
132
8
Attract Responsible Tenants
132
3
Retain Responsible Tenants
135
4
Collect Delinquent Rent and Evict Tenants for Nonpayment
139
1
Use Lease-Optioning to Benefit You and Your Tenants
140
2
Lease-Optioning and the Landlord Challenge
142
1
Set Policies and procedures
142
4
Policies and Procedures for Contractors
144
2
Section 8 Housing: A Profitable Strategy
146
13
Section 8 Housing Questions and Answers
148
6
Minimum Housing Quality Standards
154
3
Procedures for Filing Claims
157
1
Working with Contractors on Section 8 Housing
158
1
Succeeding in Real Estate
159
8
Four-Week Action Plan for Launching a Real Estate Business
159
4
Week One
160
1
Week Two
160
2
Week Three
162
1
Week Four
162
1
Set Up a Prospecting System
163
1
Be Patient-and Don't Be Afraid to Lose
164
1
Organize Your Papers
164
3
Set Up Bookkeeping and Recordkeeping Systems
165
2
Appendix A Analyzing a Property
167
16
Property Information Worksheet
168
1
Home Inspection Checklist
169
11
Rehab Worksheet
180
2
Property Acquisition Worksheet
182
1
Appendix B Financial Forms
183
7
Loan Qualification Worksheet
184
1
Sample Loan Request
185
1
Sample Project Description
186
3
Description of Other Real Estate Owned
189
1
Appendix C Contracts, Deeds, and Other Legal Forms
190
29
Contract of Sale
191
2
Contract to Purchase Real Estate
193
1
Option to Purchase Real Estate
194
1
Option to Purchase Real Estate
194
2
Agreement for Deed
196
3
Land Trust
199
9
Land Installment Contract
208
4
Promissory Note
212
2
Quitclaim Deed
214
1
Warranty Deed to Trustee
215
2
Disclosure Form
217
1
Notice of Foreclosure Sample Form
218
1
Appendix D Forms for Landlords
219
17
Rental Unit Preparation
220
1
Management Move-In Checklist
221
1
Vacancy Makeover Checklist
222
1
Rental Application
223
1
Lease-Option Prospect Qualify Form
224
1
Lease Agreement
225
8
Security Deposit Policy
233
1
Maintenance Guarantee
234
1
Maintenance Request
235
1
Appendix E Contractor Policies and Procedures
236
5
Contractor Policies and Procedures
237
4
Index
241