Full Description

It Doesn’t Have to Be a Full-Time Job

Do you want to make more money without taking on another job? Have you thought about investing in rental property, but don’t know where to start? The Weekend Real Estate Investor shows you how easy it is to use real estate to accumulate wealth—even if you don’t have a lot of money to start.

The Weekend Real Estate Investor examines how to value a property to determine its real worth, what to look for when flipping properties and when to walk away from a property that just needs too much work. Complete with money-saving tips and tax information to help you maximize your investment, you will learn all you need to know to increase your net worth and immediately start making more money.

House Hunters
Evaluate properties with an eye on your financial goal.

Money Matters
Finance your purchases without going broke.

Tax Talk
Increase your bank account without paying taxes.

Deal Disasters
Learn when a property isn’t worth the price.

Table of Contents

Introduction -

Chapter 1: The Concept of Wealth -
- Looking at Real Numbers
- The Impact of Liquidity on Net Worth
- Looking at a True Financial Position
- Opportunity Cost of Investments
- Choosing Your Investment Blend

Chapter 2: Getting Started -
- Developing a Savings Plan
- Controlling Spending
- Automobile Purchases
- The Credit Trap
- Increasing Income
- Sizeable Results from Small Savings
- Real Estate

Chapter 3: The Prepurchase Steps -
- The Need for Due Diligence
- Professional Inspectors
- Determine the Costs of Improvements and Repairs
- The Appraisal
- Other Inspections

Chapter 4: Negotiating the Real Estate Contract -
- The Writing Requirement
- The Agreement
- The Requirement of Genuine Assent
- Option Contracts
- The Contingent Contract

Chapter 5: Preparing the Contract -
- Avoiding Ambiguities
- Keeping the Agreement Legal

Chapter 6: Remedies for a Bad Deal -
- Late Performance
- Specific Performance
- Damages

Chapter 7: Acquiring a Personal Residence -
- Viewing Your Personal Residence as an Investment
- Minimal Investment Benefits
- Home Equity Lines of Credit
- Reverse Mortgages
- Increasing the Investment Aspect of Purchasing a Residence
- Choosing a Property
- Preparing an Offer

Chapter 8: Investing in Rental Real Estate -
- Choosing a Level of Involvement
- Choosing the Type of Properties to Acquire
- Profiting from Rental Activities
- Buying for Rental Income
- Buying for Market Appreciation
- Preparing Rental Properties
- Choosing Residential Tenants
- Choosing Commercial Tenants
- Managing Commercial Property

Chapter 9: The Lease Agreement -
- Provisions for Security Deposits
- Payment Provisions
- Subleasing
- Warnings and Acknowledgments
- Damaged Premises
- Eminent Domain
- Notice Requirements
- Provisions Regarding Breaching Tenants
- Specifying Jurisdiction

Chapter 10: Buying Real Estate for Resale -
- It Takes Discipline
- Controlling the Scope of Repairs
- Finding Properties
- Buying at Foreclosure Sales
- Tax Sales
- Developing an Acquisition Plan

Chapter 11: General Information Regarding Real Estate Loans -
- Choosing a Mortgage Term
- Adjustable-Rate Mortgages vs. Fixed-Rate Mortgages
- Graduated Payment Mortgages
- Costs of Completing Real Estate Transactions

Chapter 12: Financing the Purchase of a Personal Residence -
- Seller Financing
- FHA Loans
- VA Loans
- Conventional Loans

Chapter 13: Financing Investment Properties -
- Owner Financing
- FHA Loans
- Conventional Loans

Chapter 14: Tax Law Affecting Owner-Occupied Realty -
- The Home Mortgage Interest Deduction
- The Property Tax Deduction
- The Benefit of the Itemized Nonbusiness Deductions
- Taxation of the Gains from the Sale of a Primary Residence

Chapter 15: Tax Treatment of Rental Property -
- Allowable Deductions
- Specific Deductions
- Insurance
- Depreciation
- Taxation of Gains and Losses from Rental Activity
- Passive Income and Losses
- Gains and Losses from Sale of Rental Property
- Like-Kind Exchanges

Chapter 16: Taxation of Real Estate Professionals -
- Taxation of Income Earned as a Real Estate Dealer
- Deductible Business Expenses
- The Tax Impact of Business Deductions
- Self-Employment Taxes
- Nonbusiness Deductions Available to the Self-Employed
- Deduction for One-Half of Self-Employment Tax
- Self-Employed Health Insurance Deduction
- Deductions for Payments to Retirement Accounts
- Taxation of Gains on Sale of Property by Real Estate Dealers

Conclusion -
Glossary -
Index -
About the Author

Excerpt

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