Real Estate: a Guide to Making Smarter Decisions as a Buyer, Seller and Landlord (Investing Your Money to Become a Millionaire)

By Ken Murray

Have you seen any of those shows on TV about flipping houses? Have you wondered how they do it? Have you or one of your friends been talking about flipping houses for a long time but that's all it is – talk? Well, stop talking about it and get involved. There is so much real estate out there, it is time for you to take your claim.
This is not a 395-page book of regurgitated information from a bunch of gurus. This is a bit of background, life experiences, and case studies from an expert of real estate investing. The relatable case studies and principles of this book will allow you to go out and start doing deals immediately. If you're an experienced investor, maybe you will learn a different technique you haven't tried.

 

And Here Is A Preview Of What You Are Going To Learn:

What passive real estate investing entails
The difference between passive and active income
The various types of passive incomes at your disposal
Suitable examples of how passive income works
Why invest in real estate
The three main ways to invest passively in real estate
Common myths on real estate investing debunked
9 common mistakes made by novice real estate investors and how to avoid them
5 real estate investment strategies that you need to know
How to build your team to have success in real estate investing
Important tips for buying and selling real estate
How to finance your real estate transactions
How you can invest in real estate without money
And much more

• Language: English
• Publisher: Ken Murray
• Release date: Jul 16, 2020
• ISBN: 9781393037323

Book preview

Introduction

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Owning rental property can be an extremely enjoyable and profitable experience.  Many individuals flourish in this profession as it allows some flexibility of schedule, involves many facets of business knowledge, and can be a great way to build wealth through property appreciation as well as current rentals.  Rental property ownership can require a thick skin and the ability to adapt to working with many different kinds of people.  One of the biggest ways to have success in rental real estate is to select the right tenants.  Screening and evaluating potential residents is an activity worth spending time on, in order to save time and trouble later in the relationship.

Although it is possible to research the rental property business and have background knowledge before diving in, there is really no substitute for actually living through some of the challenges of the profession. Since I have many years of experience as a landlord, the information in it represents first-hand accounts of how to best handle many situations.  Every time I think I have seen it all, a new situation presents itself, so it is safe to say that landlording is never dull!

Chapter 1: Why Invest in Real Estate?

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You’re probably thinking: I can’t invest in real estate! I don’t have the money for it!

When the subject of real estate investing (REI) comes along, most people make the mistake of thinking: property ownership. For them, this means buying a house or a condo or an apartment, fixing it up, and then selling it for a profit. The truth however,is that it’s just ONE aspect of real estate investing. There are several more and for those who don’t have the financial backing for buying a property, you’ll find that there are more wallet-friendly options, many of which will be discussed in this book.

An Alternative Investment

Investors often look at real estate as an alternative investment, separate from mutual funds and stocks. Although all three depend largely on the economy for their value, there is sufficient difference among them. Simply put, if your mutual funds and stocks go down, there’s little chance that real estate value will go down as well. Hence, it’s an excellent saving clause to keep your personal worth on the positive even if other aspects of your investments take a negative hit.

When it comes to investment, the magic word is Diversification and real estate investing essentially allows you to diversify your funds.

McDonalds Business

In accounting, land is called an‘appreciating’asset because it doesn’t diminish in value–it increases over time. That being said in, what business do you think McDonalds is in? If you say food–you’re wrong.

McDonalds is in the business of real estate. If you’ll notice, most of their branches are located in prime locations or what would be prime locations in the future. Although this lends very well to their fast food profits, the real value is in the land. By