A different approach that creates huge real estate profits -- Why invest in apartments? : Apartments set you free ; Let's explode the no-money-down myth ; More myths about apartment investing ; This is not a myth, this is reality: they'll laugh first, and you'll laugh last ; Opportunity is everywhere ; A brief overview of the different kinds of multi-family housing ; Burned-out landlords are great sources for deals -- An overview of how to get your first deal : The 14 steps to acquiring a property : 1. Decide what size buildings you'll start investing in ; 2. Decide where you want to invest ; 3. Determine what types of multi-family properties you'll buy ; 4. Put your team in place ; 5. Market to get your deal ; 6. Analyze the deal ; 7. Create the offer or letter of intent ; 8. Negotiate the deal ; 9. Create and sign the purchase and sale agreement ; 10. Do your due diligence ; 11. Renegotiate the deal ; 12. Start your financing ; 13. Choose a management company ; 14. Close the deal ; Option 1: Buy and flip ; Option 2: Buy and hold ; Option 3: Buy, reposition and sell -- Where to find enormous profits from repositioning : It's all about raising the NOI ; Problems to look for ; Making a change ; Then there's the perception ; Send the message that change is happening ; The property cycle ; A common repositioning mistake ; The two main reasons why repositions fail ; The city cycle ; revitalization zones -- How to attract deals to you with a minimum of time and money : Principle #1: Make it easy to do business with you ; Principle #2: Do what you say you will do ; Principle #3: Don't be a pain In the Butt ; Inexpensive deal-attraction techniques ; Go directly to the owners ; Other techniques that cost little but bring big results ; Go after the don't wanters ; Cruising for dollars ; Another way to cruise ; Oh so many ways to get deals ; Don't make these three mistakes -- Separating the gold mines from the land mines : The power of negative thinking ; Profiting from value plays ; How to find, and profit from, burned-out landlords ; Profiting from management nightmares ; Properties that need repair: Where the gold is ; Avoid certain repairs ; Solving high-vacancy problems: once and for all ; How I filled 400 units ; How to raise rents at takeover and not lose your tenants ; How to raise rents steadily while keeping your tenants ; When it makes sense to clean house -- How to analyze a property using the fewest numbers for the most profit : Back to the cap rate ; Analyzing Your first deal ; How do we know it really is a deal? ; Current management: when to hold 'em and when to fold 'em ; What matters the very most to tenants ; Is someone putting lipstick on a pig? ; Let's look inside ; Market area inspection ; The sidewalk tells the story ; But what if my numbers are off? ; Don't get depressed on me! -- Where to get the money for all your deals : Why banks like apartments ; Three flavors of lenders ; Conduits ; When to use a mortgage broker ; Putting your package together ; How to get partners to fund your deals ; The big, profitable world of private money ; Debt versus equity deals.
Twelve negotiating secrets of the pros : 1. Be prepared ; 2. Understand the other party's needs ; 3. Set your goals and rank them In order of priority ; 4. Decide what your strike price is and don't exceed it ; 5. Anticipate the next move and don't avoid haggling ; 6. Remain calm and unemotional ; 7. Build rapport and trust ; 8. Create a win/win environment ; 9. Remain flexible and open to options ; 10. When the seller speaks, listen closely and delay your response ; 11. Demonstrate empathy ; 12. Silence is golden -- The 80/20 rule of rehabbing : Exterior improvements ; Interior improvements ; How to get the most from insurance claims ; dealing with contractors -- How to avoid being a landlord: Secrets to hiring great property managers : How to find the best managers ; What you should expect to pay ; Repositioning managers: a special breed ; How to get contractors to beg you for business ; Managing the manager: reports you should get regularly ; You're an asset manager -- Reselling for huge profits : Return on equity ; Is your property stabilized? ; Get your financial house In order ; Get your physical house in order ; Time to tell the world ; Your obligations as a seller -- The 10 biggest mistakes repositioners make, and how to avoid them : Mistake #1: Running out of money during a repositioning ; Mistake #2: Leasing up too soon ; Mistake #3: Not using licensed contractors ; Mistake #4: Not getting three bids ; Mistake #5: Assuming the lowest bid is the best bid ; Mistake #6: Not going after private money sooner ; Mistake #7: Not marketing consistently ; Mistake #8: Discriminating ; Mistake #9: Not having signing authority on bank accounts ; Mistake #10: Buying a property with environmental issues ; Mistake #11: Inspecting the property yourself ; Mistake #12: Managing the property yourself ; Mistake #13: Using fill-in-the-blank legal forms ; Mistake #14: Dealing with tenants ; Mistake #15: Thinking you know it all -- Creating your success team : Real estate brokers ; The property manager ; Attorneys ; Property inspector ; Appraisers ; Lender ; Contractors ; Insurance agent ; Demographer ; 1031 specialists ; Accountant -- Next steps on your road to wealth : How impatient are you? ; The absolute shortest shortcut to real estate wealth ; Free bonus materials for you.
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