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Contents

 

 

BUILD REAL ESTATE WEALTH

ENJOY THE JOURNEY OF RENTAL PROPERTY INVESTMENT

 

CONTENTS

FOREWARD

ACKNOWLEDGEMENTS

HOW TO GET THE MOST OUT OF THIS BOOK

INTRODUCTION

  • My intentions for writing this book

  • What this book is about

 

PREFACE (The Vacant Lot)

  • Laying the foundation for The Foundation

  • Why people sabotage themselves

  • Real estate is the IDEAL investment

  • The rental real estate game in a nutshell

  • The three main reasons why people don’t invest in real estate

 

CHAPTER ONE—EDUCATION (Site Clearing and Breaking Ground)

  • Get some education before you start

  • You don’t have to give up your day job or career to invest

  • The expanded real estate game in a nutshell

  • Depreciation discussion

  • If you can do this…

  • You don’t have to do everything yourself

  • Team members to consider

  • Kessler’s 10 rules for success in real estate

 

CHAPTER TWO—ACQUIRING PROPERTIES (The Foundation)

  • Phase One—Creating your legal entity

    • Ways to title properties other than in entities

    • Descriptions of legal entities

    • Owning property within your IRA

    • What to consider when forming an entity

  • Phase Two—Searching for a property that meets your criteria

    • Types of residential property

    • Types of commercial property

    • Niche types of residential tenants

    • Summary of what to consider in a property

    • Other factors to consider in a property

    • Sources of properties

      • Getting sellers to come to you

      • Going directly to the sellers

        • Auctions

    • Types of distressed sellers and how to find them

  • Phase Three—Negotiating the purchase

    • Requirements for successful negotiation

    • Questions for finding out why owners are selling

    • Points to be negotiated for a seller finance deal

    • General tips for negotiating

  • Phase Four—Doing your due diligence

    • What to check during due diligence

  • Phase Five—Financing the deal

    • Sources of funds to pay all cash

      • Rules for borrowing by using credit cards cash advances

  • Sources of funds when the property does not secure the loan

  • Sources of funds when the loan is secured by the property

    • Hard money loan features

    • Bank loan features

      • Documentation information required by banks

  • Phase Six—Preparing for a closing

    • Types of inspections

    • Obtaining property insurance

    • Other tasks before a closing

 

CHAPTER THREE—PREPARING YOUR PROPERTY FOR TENANTS (Framing)

  • Repair and maintenance team

  • Suppliers

  • Office files and records

  • Banking and accounting

  • Physical preparation of the apartment for viewing

  • Setting your rental rate

 

CHAPTER FOUR—ACQUIRING TENANTS (Roofing)

  • Marketing the available unit

  • Screening callers over the phone

  • Showing the unit

  • Taking a rental application

  • Processing a rental application

  • Approving the applicant and offering them the rental unit

  • Signing the lease

  • Arranging the move-in

  • Move-in day

 

CHAPTER FIVE—PROPERTY MANAGEMENT (Utilities)

  • Routine maintenance

  • Unplanned maintenance

  • Suggested tools and supplies

 

CHAPTER SIX—TENANT MANAGEMENT (Doors and Windows)

  • How to show respect to tenants

  • Routine interactions with tenants

    • Rent collection

    • Lease renewals

    • Inspections of the rental unit

    • Periodic communications

    • Move-outs

    • Discussion of security deposits

  • Unplanned interactions with tenants

    • Lease violations

    • Evictions

    • Sudden events that affect the lease

    • Tenant is asking for a change in the lease

    • Death of tenants

 

CHAPTER SEVEN—THE AUTHOR’S BACKSTORY

  • Designing and general contracting our home

  • Deciding in junior high that I wanted to be a disc jockey and own rental property

  • Starting the SPRING Foundation in high school

  • College radio disc jockey

  • Professional radio disc jockey

  • Full time professional mobile disc jockey

  • Buying my first rental, flipping houses, and hard money lending

  • The three most dangerous words in the English language

 

CHAPTER EIGHT—HOUSE FLIPPING: AN OVERVIEW

  • QR Code to bonus material

 

CHAPTER NINE—HOW TO GROW FROM $0 TO $10,000 PER MONTH NET CASH FLOW FROM RENTAL PROPERTIES

  • The assumptions

  • The math

 

CHAPTER TEN—TAX IMPLICATIONS FROM OPERATING RENTAL PROPERTY

(Framing and Drywall)

  • The three primary tax advantages for rental property

  • Section One—Tax Forms

  • Section Two—Rental Income 

    • Treatment of different types of cash in 

  • Section Three—Expenses

    • Depreciation

    • Typical categories of expense

  • Qualified business income deduction under section 199A of the IRS Code

 

CHAPTER ELEVEN—THE IMPACT OF WEALTH (Paint)

  • The difference between being rich and being wealthy

  • I would rather lose all my money…

  • Two myths about wealth

  • Tithing to your church and making charitable contributions

  • Personal finance wisdom

 

CHAPTER TWELVE—HOW TO PAINT A PICTURE WITH YOUR PERSONAL 

FINANCIAL STATEMENT

  • Questions about your income and expenses

  • Questions about your assets and liabilities

  • Personal questions

  • Types of current assets

  • Types of long-term assets

  • Types of current liabilities

  • Types of long-term liabilities

  • Sources of household income

  • Types of household expenses

  • Concluding personal financial advice

 

CHAPTER THIRTEEN—SELLING RENTAL PROPERTIES (Utilities)

  • Putting yourself on the other side of the equation as a seller

  • Tips and thoughts

 

CHAPTER FOURTEEN—BEST PRACTICES (Flooring)

  • Insurance

    • Types of business insurance

    • Types of personal insurance

  • Estate planning

  • Medical directives

  • Being considerate to yourself and your heirs

    • Organizing and storing important documents

  • Bank accounts

  • Saving money

    • Different categories of savings

  • How it appears on paper counts

    • Proper form for a business letter

  • Supporting cast members

    • Roles to be filled by others in your life

 

CHAPTER FIFTEEN—THE CONCLUSION (Landscaping)

  • Final advice

 

CHAPTER SIXTEEN—BONUS FROM “REAL ESTATE STEVE” SZUMIGALE

  • Ten Different Types of Real Estate Deals: The Art of Creative Financing & No Money Down

  • Change your thinking. Change your life

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