Let’S Put the Real Back into Real Estate

By Jim Keogh

There is no better investment than real estate. From buying at auction to devising an exit strategy, Lets Put the Real Back into Real Estate examines all aspects of the process, step-by-step. Author Jim Keogh presents a practical commentary on various aspects of the real estate industry written from the viewpoint of a successful real estate investor.

Filled with rich and pragmatic insight based on decades of experience in the industry, Lets Put the Real Back into Real Estate acts as a guidebook for beginning investors as well as seasoned pros looking for new tips or refreshers. From rehabbing, to flipping, to buy-and-hold strategies, and auctions, Keogh discusses all of these real estate investing techniques and more.

Keogh shows there are a lot of opportunities to lose money, but there are also plenty of opportunities to make money. Using personal anecdotes, this guide provides tips and keys to success in order to overcome problems and fulfillment in the real estate business.

• Language: English
• Publisher: Archway Publishing
• Release date: Aug 14, 2014
• ISBN: 9781480809277

Jim Keogh

Jim Keogh has seen many aspects of the real estate business—from part-time realtor to owning his own realty company, to seventeen years as an appraiser for the county auditor’s office. He has bought, sold, rented real estate, and mentors new investors. Keogh and his wife, Deloris, live in Ohio.

Book preview

Copyright © 2014 Jim Keogh.

All rights reserved. No part of this book may be used or reproduced by any means, graphic, electronic, or mechanical, including photocopying, recording, taping or by any information storage retrieval system without the written permission of the publisher except in the case of brief quotations embodied in critical articles and reviews.

Archway Publishing

1663 Liberty Drive

Bloomington, IN 47403

www.archwaypublishing.com

1-(888)-242-5904

Because of the dynamic nature of the Internet, any web addresses or links contained in this book may have changed since publication and may no longer be valid. The views expressed in this work are solely those of the author and do not necessarily reflect the views of the publisher, and the publisher hereby disclaims any responsibility for them.

Any people depicted in stock imagery provided by Thinkstock are models, and such images are being used for illustrative purposes only.

Certain stock imagery © Thinkstock.

ISBN: 978-1-4808-0910-9 (sc)

ISBN: 978-1-4808-0927-7 (e)

Library of Congress Control Number: 2014911889

Archway Publishing rev. date: 07/09/2014

Contents

Introduction

What’s Real and Not Real in Real Estate

Who Should and Should Not Be in Real Estate….

The Importance of Education

Wholesaling

The Deal I Had The Most Fun With

Private Money Lending vs. Hard Money Lending

Buying Real Estate at Auction

Rehabbing Ideas

What To Look For In A Property

Keys to My Success

This Is Not A Negative Book

Dedication

I would like to dedicate this book to Carl Wise, former mayor of the city of Canton, OH and real estate broker for his fatherly mentoring skills. Not only did he teach me the basic skills in my formative years in real estate, but he handed over some sweet deals for me to cut my teeth on. I worked full time for him for three years and I thoroughly enjoyed his guidance and making money with him.

I would also like to thank my wife, Deloris, for standing by me and supporting me in the real estate business.

Lastly, thank you to Danielle Hayduk, who helped me make some money, and without whose support and skill I wouldn’t have written this book.

Introduction

Why I Got Into Real Estate

W hen I was a kid I saw our landlord. I saw our landlord’s car, and I liked it. I saw our landlord’s house, and I liked it. After I got married I told my wife I wanted to buy a duplex. So I got my real estate license and for fourteen years I worked my day job and I worked part time—in real estate.

My parents never owned a house, but I could see why it was better to buy and have tenants to pay my mortgage than to rent. As soon as I could I bought my first rental property: a duplex I moved my bride into two years after we were married.

My wife, Doloris, didn’t know what she was in for when we first started dating. Little by little she got used to the idea that I was going to be making a career in real estate. She embraced my dream, or at least she offered no resistance. As a matter