{"product_id":"make-money-with-affordable-apartment-buildings-and-commercial-properties-isbn-9780470183434","title":"Make Money with Affordable Apartment Buildings and Commercial Properties","description":"\u003ci\u003eMake Money with Affordable Apartment Buildings and Commercial Properties, Second Edition\u003c\/i\u003e, shows you how to build wealth with affordable multi-unit residential and commercial buildings. Low-priced income properties can yield higher returns than single-family homes?especially if you manage them yourself. This book shows you how to find, assess, buy, and manage apartment buildings, retail offices, self-storage, and other overlooked investment alternatives. In today?s tough housing market, these properties offer great returns. \u003cp\u003eAcknowledgments xiii\u003c\/p\u003e \u003cp\u003eIntroduction: How to Start 1\u003c\/p\u003e \u003cp\u003eDevelop Your Analytical Abilities 1\u003c\/p\u003e \u003cp\u003eDevelop an Entrepreneurial Spirit 2\u003c\/p\u003e \u003cp\u003eUncommon, Yet Essential 2\u003c\/p\u003e \u003cp\u003eEntrepreneurs Create Value for Themselves and Their Customers (a.k.a. Tenants) 3\u003c\/p\u003e \u003cp\u003eMarket Savvy: Systematic Strategic Thinking 5\u003c\/p\u003e \u003cp\u003e\u003cb\u003e1. Profit with Commercial and Multifamily Properties 7\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eAdvantages of Commercial and Multifamily Properties 7\u003c\/p\u003e \u003cp\u003eCost of Acquisition 8\u003c\/p\u003e \u003cp\u003eCash Flows Relative to Price 9\u003c\/p\u003e \u003cp\u003eSearch Time 13\u003c\/p\u003e \u003cp\u003eManagement 14\u003c\/p\u003e \u003cp\u003eTrade Up Tax Free 15\u003c\/p\u003e \u003cp\u003eOwner Will Carry Financing (OWC) 17\u003c\/p\u003e \u003cp\u003ePossibilities to Create Value 18\u003c\/p\u003e \u003cp\u003eSumming Up 20\u003c\/p\u003e \u003cp\u003e\u003cb\u003e2. Craft Your Market Strategy 22\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eIt All Depends 23\u003c\/p\u003e \u003cp\u003eA Strategy of Your Own 23\u003c\/p\u003e \u003cp\u003ePVP: The One Constant Rule 23\u003c\/p\u003e \u003cp\u003eThe DUST Strategic Framework: Questions to Answer 24\u003c\/p\u003e \u003cp\u003eEntrepreneur Objectives: Know Thyself 26\u003c\/p\u003e \u003cp\u003eTalents, Inclinations, and Resources 26\u003c\/p\u003e \u003cp\u003eAssess Your Finances 28\u003c\/p\u003e \u003cp\u003eFrame Your Due Diligence 30\u003c\/p\u003e \u003cp\u003eIdentify and Fully Describe the Physical Property 31\u003c\/p\u003e \u003cp\u003eUnderstand Your Bundle of Rights and Restrictions 36\u003c\/p\u003e \u003cp\u003eWhere Should You Invest? 48\u003c\/p\u003e \u003cp\u003eTime Period 49\u003c\/p\u003e \u003cp\u003e\u003cb\u003e3. Where’s the Local Economy Headed? 50\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eEconomic Base Matters Greatly 51\u003c\/p\u003e \u003cp\u003eAlamo, California (San Francisco Bay Area) versus Terre Haute, Indiana 52\u003c\/p\u003e \u003cp\u003eAuthors Neglect Economic Base 52\u003c\/p\u003e \u003cp\u003eBenefit from the Lessons Learned 53\u003c\/p\u003e \u003cp\u003eWhere to Get Data 55\u003c\/p\u003e \u003cp\u003eWill the Population Grow? 55\u003c\/p\u003e \u003cp\u003eEnclaves of Existing and Potential Growth 55\u003c\/p\u003e \u003cp\u003eFind Out the Actual Numbers 56\u003c\/p\u003e \u003cp\u003eBeware of False Negatives 56\u003c\/p\u003e \u003cp\u003eIs the Number of Jobs Increasing? 57\u003c\/p\u003e \u003cp\u003eWhat Was the San Diego Connection? 59\u003c\/p\u003e \u003cp\u003eForecasting Recovery 59\u003c\/p\u003e \u003cp\u003eCost of Running a Business 60\u003c\/p\u003e \u003cp\u003eBusinesses and Employment Migrate to Lower-Cost Cities, States, and Countries 61\u003c\/p\u003e \u003cp\u003eCost of Living for Employees 61\u003c\/p\u003e \u003cp\u003eQuality of Life 62\u003c\/p\u003e \u003cp\u003eQuality of Life Also Attracts Wealth 63\u003c\/p\u003e \u003cp\u003eCommunity Attitudes and Actions 64\u003c\/p\u003e \u003cp\u003eEntrepreneurial Spirit 65\u003c\/p\u003e \u003cp\u003eConcluding Remarks 66\u003c\/p\u003e \u003cp\u003e\u003cb\u003e4. Outperform the Competition 68\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe Competitive Battle 69\u003c\/p\u003e \u003cp\u003eFour Good Reasons to Inventory, Inspect, and Critically Review Competitors 69\u003c\/p\u003e \u003cp\u003eWhere to Invest 69\u003c\/p\u003e \u003cp\u003eMarket Information Gives You Negotiating Power and Confidence 71\u003c\/p\u003e \u003cp\u003eSearching for a Preferred Value Proposition (PVP) 72\u003c\/p\u003e \u003cp\u003eConstructing Your Financial Pro Formas 73\u003c\/p\u003e \u003cp\u003eIdentify Your Competitors 74\u003c\/p\u003e \u003cp\u003eQuickly Adapt to Change 74\u003c\/p\u003e \u003cp\u003eWhen Markets Tighten 75\u003c\/p\u003e \u003cp\u003eMore Practical Implications 75\u003c\/p\u003e \u003cp\u003eWhat to Look For: The Location 76\u003c\/p\u003e \u003cp\u003eAesthetics 77\u003c\/p\u003e \u003cp\u003eSchool Districts 77\u003c\/p\u003e \u003cp\u003eProperty Taxes and Services 78\u003c\/p\u003e \u003cp\u003eCrime Rates 79\u003c\/p\u003e \u003cp\u003eAccessibility 79\u003c\/p\u003e \u003cp\u003eTrendiness 79\u003c\/p\u003e \u003cp\u003ePublic Transportation 80\u003c\/p\u003e \u003cp\u003eWho Are the Residents and Recent Homebuyers and Tenants? 80\u003c\/p\u003e \u003cp\u003eSite Features 81\u003c\/p\u003e \u003cp\u003eThe Exterior of the Building 81\u003c\/p\u003e \u003cp\u003ePlay the Tenant 82\u003c\/p\u003e \u003cp\u003eInspect the Interiors of Competing Units 83\u003c\/p\u003e \u003cp\u003eAesthetics: How Does the Unit Look, Feel, and Sound? 83\u003c\/p\u003e \u003cp\u003eLivability: Unit Size, Room Count, and Floor Plan 84\u003c\/p\u003e \u003cp\u003eEnergy Costs 85\u003c\/p\u003e \u003cp\u003eThe Rental Process 86\u003c\/p\u003e \u003cp\u003e\u003cb\u003e5. Choose the Best Target Market 88\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eHow to Create a PVP 88\u003c\/p\u003e \u003cp\u003eDiversity Rules 89\u003c\/p\u003e \u003cp\u003eDemographic Differences 90\u003c\/p\u003e \u003cp\u003ePsychographic Differences 93\u003c\/p\u003e \u003cp\u003eAvoid Standard Labels; Picture Your Actual Renters 98\u003c\/p\u003e \u003cp\u003eHitting the Bull’s Eye 100\u003c\/p\u003e \u003cp\u003eFind Unique and Intense Needs 100\u003c\/p\u003e \u003cp\u003eBull’s Eye Lease Assessment 101\u003c\/p\u003e \u003cp\u003eThrow Away Standard Operating Procedures 101\u003c\/p\u003e \u003cp\u003eHow Do You Identify the Wow (PVP)\u003c\/p\u003e \u003cp\u003eFeatures for Your Tenants? 102\u003c\/p\u003e \u003cp\u003eInformal Conversations 102\u003c\/p\u003e \u003cp\u003ePay Attention 103\u003c\/p\u003e \u003cp\u003eTalk with Insiders and Experts 103\u003c\/p\u003e \u003cp\u003eUse Questionnaires 104\u003c\/p\u003e \u003cp\u003eFocus Groups 105\u003c\/p\u003e \u003cp\u003eAnticipate and Adapt to Change 106\u003c\/p\u003e \u003cp\u003eThe Age Wave 106\u003c\/p\u003e \u003cp\u003eEcho Boomers 107\u003c\/p\u003e \u003cp\u003eLocal Trends and Changes 108\u003c\/p\u003e \u003cp\u003e\u003cb\u003e6. Is the Property a Good Deal? 109\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eHow Much Would It Cost to Construct the Property Today? 110\u003c\/p\u003e \u003cp\u003eThe Construction Cycle 110\u003c\/p\u003e \u003cp\u003eImplications for Investors 111\u003c\/p\u003e \u003cp\u003eLocal (Regional) Recessions 113\u003c\/p\u003e \u003cp\u003ePer Unit Measures 113\u003c\/p\u003e \u003cp\u003ePer Apartment Unit 113\u003c\/p\u003e \u003cp\u003ePer-Square-Foot Measures 115\u003c\/p\u003e \u003cp\u003ePrice Per Front Foot 117\u003c\/p\u003e \u003cp\u003eGross Rent Multipliers 117\u003c\/p\u003e \u003cp\u003eCapitalized Value 118\u003c\/p\u003e \u003cp\u003eEstimate Market Value 122\u003c\/p\u003e \u003cp\u003eAnticipate the Future; Pay for the Present 124\u003c\/p\u003e \u003cp\u003eCash-on-Cash Return 125\u003c\/p\u003e \u003cp\u003eGrowth in Equity 127\u003c\/p\u003e \u003cp\u003eDon’t Settle for Low Rates of Appreciation 129\u003c\/p\u003e \u003cp\u003e\u003cb\u003e7. Collect More Rents 130\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eNever Accept Average 131\u003c\/p\u003e \u003cp\u003eStand Out and Stand Above 131\u003c\/p\u003e \u003cp\u003eA Strategy of Your Own 132\u003c\/p\u003e \u003cp\u003eVerify Current Rent Collections 133\u003c\/p\u003e \u003cp\u003eExamine All Leases and Rental Applications 134\u003c\/p\u003e \u003cp\u003eInterpreting the Rental Information 134\u003c\/p\u003e \u003cp\u003eRent Collections, Not Rental Rates 135\u003c\/p\u003e \u003cp\u003eTalk with Tenants 135\u003c\/p\u003e \u003cp\u003eYour Competitive Market Analysis 137\u003c\/p\u003e \u003cp\u003eSet Your Rents with Market Savvy 138\u003c\/p\u003e \u003cp\u003eThe Myth of Market Rent Levels 139\u003c\/p\u003e \u003cp\u003eRent Levels and Vacancy Rates 140\u003c\/p\u003e \u003cp\u003eThe Myth of the Market Vacancy Rate 141\u003c\/p\u003e \u003cp\u003eThink Rent Range, Not Rent Rate 142\u003c\/p\u003e \u003cp\u003eRaise Rents without Substantially Improving the Building 142\u003c\/p\u003e \u003cp\u003eConfirm Your Suspicions 142\u003c\/p\u003e \u003cp\u003eWhy Owners Underprice Their Units 143\u003c\/p\u003e \u003cp\u003eInvestor Opportunities with Stage-of-Life Sellers 144\u003c\/p\u003e \u003cp\u003eHow High Can You Go? 146\u003c\/p\u003e \u003cp\u003eSelective Increases 148\u003c\/p\u003e \u003cp\u003eDealing with Current Tenants 149\u003c\/p\u003e \u003cp\u003eCan You Boost Your Rent Collections by Lowering Rents? 150\u003c\/p\u003e \u003cp\u003eAn Extreme Example of Overpricing and Market Ignorance (or Fanciful Dreaming) 150\u003c\/p\u003e \u003cp\u003eA Purchase Opportunity 151\u003c\/p\u003e \u003cp\u003eTime-Sensitive Rental Markets 152\u003c\/p\u003e \u003cp\u003e\u003cb\u003e8. Build Equity Fast with Sharp Interiors 153\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe Entrepreneurial Imperative 153\u003c\/p\u003e \u003cp\u003eToo Many Investors 153\u003c\/p\u003e \u003cp\u003eToo Few Sellers 154\u003c\/p\u003e \u003cp\u003eNot Words of Discouragement 155\u003c\/p\u003e \u003cp\u003eYour Target Market 155\u003c\/p\u003e \u003cp\u003eVisualize Your Tenants 156\u003c\/p\u003e \u003cp\u003eYour Suggestion Box 157\u003c\/p\u003e \u003cp\u003eFiguring Payback 157\u003c\/p\u003e \u003cp\u003eFast Buck versus the Last Buck 158\u003c\/p\u003e \u003cp\u003eSet Your Budget for Improvements 158\u003c\/p\u003e \u003cp\u003eThe Sum Effect 160\u003c\/p\u003e \u003cp\u003eThe Interior of the Units 160\u003c\/p\u003e \u003cp\u003eSharpen the Aesthetics 161\u003c\/p\u003e \u003cp\u003eSpecial Touches 163\u003c\/p\u003e \u003cp\u003eSafety, Security, and Functionality 163\u003c\/p\u003e \u003cp\u003eRightsizing Room Count\/Room Size 165\u003c\/p\u003e \u003cp\u003eCreate More Storage 167\u003c\/p\u003e \u003cp\u003eCheck Noise Levels 169\u003c\/p\u003e \u003cp\u003eOverall Livability of the Unit 170\u003c\/p\u003e \u003cp\u003e\u003cb\u003e9. Generate More Income 171\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eYour Building Sends an Advertising Message 171\u003c\/p\u003e \u003cp\u003eClean Up the Grounds 172\u003c\/p\u003e \u003cp\u003eYard Care and Landscaping 172\u003c\/p\u003e \u003cp\u003eSidewalks, Walkways, and Parking Areas 173\u003c\/p\u003e \u003cp\u003eFences, Lampposts, and Mailboxes 173\u003c\/p\u003e \u003cp\u003eThe Exterior of the Building 174\u003c\/p\u003e \u003cp\u003eName Your Building 179\u003c\/p\u003e \u003cp\u003eSignage 182\u003c\/p\u003e \u003cp\u003eCurb Appeal: Summing Up 182\u003c\/p\u003e \u003cp\u003eCollect More than Rent 183\u003c\/p\u003e \u003cp\u003eLaundry 184\u003c\/p\u003e \u003cp\u003eParking 184\u003c\/p\u003e \u003cp\u003eBuild Storage Lockers 185\u003c\/p\u003e \u003cp\u003eCable\/Satellite 185\u003c\/p\u003e \u003cp\u003eAdd Other Amenities or Services 186\u003c\/p\u003e \u003cp\u003e\u003cb\u003e10. More Creative Ways to Make Money 187\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eTailor Your Lease Agreements 187\u003c\/p\u003e \u003cp\u003eCompetitive Advantage 188\u003c\/p\u003e \u003cp\u003eWhat Terms Might You Negotiate? 191\u003c\/p\u003e \u003cp\u003eShould You Furnish Your Apartments? 198\u003c\/p\u003e \u003cp\u003eAll Price Levels 199\u003c\/p\u003e \u003cp\u003eHigh Payback 199\u003c\/p\u003e \u003cp\u003eWarning: Don’t Pay a Premium Price for Furnished Apartment Buildings 201\u003c\/p\u003e \u003cp\u003eImprove the Neighborhood 202\u003c\/p\u003e \u003cp\u003eBecome a Neighborhood Entrepreneur 203\u003c\/p\u003e \u003cp\u003eThe Huge Payback 204\u003c\/p\u003e \u003cp\u003eConclusion: Investing in Action: The Bayside Apartments 206\u003c\/p\u003e \u003cp\u003eEntrepreneurial Strategy 212\u003c\/p\u003e \u003cp\u003eReal Estate Entrepreneurs Outperform All Other Investors 213\u003c\/p\u003e \u003cp\u003eOnly Investors Perform 214\u003c\/p\u003e \u003cp\u003eEntrepreneurial Real Estate Investors Perform Best of All 214\u003c\/p\u003e \u003cp\u003eIndex 217\u003c\/p\u003e   \u003cp\u003e\u003cb\u003eGARY W. ELDRED, P\u003csmall\u003eH\u003c\/small\u003eD,\u003c\/b\u003e has invested successfully in real estate for more than twenty-five years and has served on the graduate business school faculty at Stanford University and the University of Virginia. One of America's top-selling real estate authors, Eldred's other books include \u003ci\u003eInvesting in Real Estate, Fifth Edition, Trump  University Real Estate 101,\u003c\/i\u003e and \u003ci\u003eMake Money with Flippers, Fixers, and Renovations, Second Edition\u003c\/i\u003e,  all  from Wiley.     \u003c\/p\u003e\u003cp\u003eREAL ESTATE  \u003c\/p\u003e\u003cp\u003e\u003cb\u003eMake money with affordable apartment buildings and commercial properties\u003c\/b\u003e  \u003c\/p\u003e\u003cp\u003eIn the Make Money series, renowned real estate investor and bestselling author Gary W. Eldred shows you how to profit from the safest, most reliable wealth builder in the world—real estate. With coverage of all the fundamentals, Eldred shows you the ropes so you don't have to learn important lessons the hard way.  \u003c\/p\u003e\u003cp\u003eIf you've been investing in single-family homes but want a new way to make even more money, maybe it's time to make the jump to apartment buildings and commercial properties. \u003ci\u003eMake Money with Affordable Apartment Buildings and Commercial Properties, Second Edition\u003c\/i\u003e shows you how to set the right strategy and start investing in bigger properties—from  apartment complexes to strip malls and office parks. Fully revised to cover the basics of this hot investment sector, this step-by-step guide reveals everything you need to know to expand your investment empire, including:  \u003c\/p\u003e\u003cul\u003e \u003cli\u003eCrafting a market strategy that suits you\u003c\/li\u003e \u003cli\u003eFinding commercial or multifamily properties with big potential\u003c\/li\u003e \u003cli\u003eEvaluating the local economy for long-term opportunity\u003c\/li\u003e \u003cli\u003eIdentifying and beating your competition\u003c\/li\u003e \u003cli\u003eChoosing a target market\u003c\/li\u003e \u003cli\u003eCollecting rents and managing properties for increased income\u003c\/li\u003e \u003cli\u003eBuilding equity quickly and simply\u003c\/li\u003e \u003cli\u003eUsing creative strategies for generating more income\u003c\/li\u003e \u003cli\u003eAnd much more\u003c\/li\u003e \u003c\/ul\u003e","brand":"Wiley","offers":[{"title":"Default Title","offer_id":47989553987813,"sku":"NP9780470183434","price":25.0,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1842\/7735\/files\/9780470183434.jpg?v=1761784573","url":"https:\/\/k12savings.com\/es\/products\/make-money-with-affordable-apartment-buildings-and-commercial-properties-isbn-9780470183434","provider":"K12savings","version":"1.0","type":"link"}