{"product_id":"making-money-in-real-estate-isbn-9781118115947","title":"Making Money in Real Estate","description":"Successful real estate investments play an essential role in Canadian investors' portfolios. The growth in wealth in real estate markets has presented investors with tremendous opportunities to capitalize on and expand their range of investments, and has moved real estate investing from a niche product to a pillar of smart portfolio diversification. In \u003ci\u003eMaking Money in Real Estate, 2\u003csup\u003end\u003c\/sup\u003e Edition\u003c\/i\u003e, Douglas Gray demystifies the Canadian real estate market for novice investors and presents new strategies for veteran investors. Learn to:  \u003cul\u003e \u003cli\u003eUnderstand the real estate market cycles\u003c\/li\u003e \u003cli\u003eFind a property and assess its investment potential\u003c\/li\u003e \u003cli\u003eBuild a trustworthy real estate team\u003c\/li\u003e \u003cli\u003eArrange financing on good terms\u003c\/li\u003e \u003cli\u003eUse negotiating tactics that work\u003c\/li\u003e \u003cli\u003eUnderstand tax and legal issues\u003c\/li\u003e \u003cli\u003eManage a property\u003c\/li\u003e \u003cli\u003eAvoid the pitfalls that many investors fall into\u003c\/li\u003e \u003cli\u003eExamine the pros and cons of non-residential property investment options\u003c\/li\u003e \u003c\/ul\u003e \u003cp\u003eReaders of previous editions will appreciate the vital changes to mortgage rules, taxation and legislation, and the inclusion of information on commercial real estate. Thorough coverage in plain English makes \u003ci\u003eMaking Money in Real Estate, 2\u003csup\u003end\u003c\/sup\u003e Edition\u003c\/i\u003e the next logical step for investors who want to begin or expand their real estate portfolios, and is a critical and indispensable tool in investment decision making.\u003c\/p\u003e  \u003cb\u003ePreface xi\u003c\/b\u003e  \u003cp\u003e\u003cb\u003eAcknowledgments xiii\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 1: Understanding Real Estate Investment 1\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eWhy Consider Investing in Real Estate? 2\u003c\/p\u003e \u003cp\u003eUnderstanding the Real Estate Market 10\u003c\/p\u003e \u003cp\u003eEstablishing Your Investment Strategies 14\u003c\/p\u003e \u003cp\u003eKey Investment Strategies to Consider 15\u003c\/p\u003e \u003cp\u003eBuying with Partners 17\u003c\/p\u003e \u003cp\u003eSummary 29\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 2: Types of Residential Real Estate 31\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eCondominium 31\u003c\/p\u003e \u003cp\u003eSingle-Family House 45\u003c\/p\u003e \u003cp\u003eProperty for Renovation 54\u003c\/p\u003e \u003cp\u003eRecreational Property 57\u003c\/p\u003e \u003cp\u003eMulti-unit Dwelling 63\u003c\/p\u003e \u003cp\u003eApartment Building 63\u003c\/p\u003e \u003cp\u003eRaw Land 66\u003c\/p\u003e \u003cp\u003eSummary 68\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 3: Finding and Evaluating the Right Property 69\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eWhat to Consider When Selecting a Property 69\u003c\/p\u003e \u003cp\u003eWhere to Find a Property for Sale 83\u003c\/p\u003e \u003cp\u003eDetermining the Value of the Property 88\u003c\/p\u003e \u003cp\u003eSummary 102\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 4: Selecting Your Advisory Team 103\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eCommon Selection Criteria 103\u003c\/p\u003e \u003cp\u003eSelecting a Realtor 106\u003c\/p\u003e \u003cp\u003eSelecting a Lawyer 110\u003c\/p\u003e \u003cp\u003eSelecting an Accountant 114\u003c\/p\u003e \u003cp\u003eSelecting a Lender 117\u003c\/p\u003e \u003cp\u003eSelecting a Financial Planner 117\u003c\/p\u003e \u003cp\u003eSelecting a Mortgage Broker 122\u003c\/p\u003e \u003cp\u003eSelecting a Building or Home Inspector 123\u003c\/p\u003e \u003cp\u003eSelecting an Insurance Broker 126\u003c\/p\u003e \u003cp\u003eSummary 128\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 5: Understanding the Financing Aspects 129\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eWhat Is a Mortgage? 129\u003c\/p\u003e \u003cp\u003eTypes of Mortgages 130\u003c\/p\u003e \u003cp\u003eSources of Mortgages 138\u003c\/p\u003e \u003cp\u003eKey Factors to Consider When Selecting a Mortgage 139\u003c\/p\u003e \u003cp\u003eGeneral Contents of a Mortgage 144\u003c\/p\u003e \u003cp\u003eDetermining the Amount of Mortgage Available 148\u003c\/p\u003e \u003cp\u003eApplying for a Mortgage 149\u003c\/p\u003e \u003cp\u003eCost of Obtaining a Mortgage 153\u003c\/p\u003e \u003cp\u003eDefaulting on Your Mortgage 159\u003c\/p\u003e \u003cp\u003eCreative Financing 163\u003c\/p\u003e \u003cp\u003eDealing with Negative Cash Flow 164\u003c\/p\u003e \u003cp\u003eSummary 166\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 6: Understanding the Legal Aspects 167\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eTypes of Ownership of Property 167\u003c\/p\u003e \u003cp\u003eUnderstanding the Purchase-and-Sale Agreement 170\u003c\/p\u003e \u003cp\u003eServices Provided by the Purchaser’s Lawyer 180\u003c\/p\u003e \u003cp\u003eServices Provided by the Vendor’s Lawyer 185\u003c\/p\u003e \u003cp\u003eThe Listing Agreement 188\u003c\/p\u003e \u003cp\u003eForms of Legal Structure to Hold Investment\u003c\/p\u003e \u003cp\u003eProperty 190\u003c\/p\u003e \u003cp\u003eOther Legal Cautions and Protections to Consider 193\u003c\/p\u003e \u003cp\u003eSummary 200\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 7: Understanding the Tax Aspects 201\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eLocal and Regional Taxes 201\u003c\/p\u003e \u003cp\u003eProvincial Taxes 202\u003c\/p\u003e \u003cp\u003eFederal Taxes 202\u003c\/p\u003e \u003cp\u003eIncome Tax 210\u003c\/p\u003e \u003cp\u003eTax Implications of the Purchase Structure When Buying an Apartment Building 226\u003c\/p\u003e \u003cp\u003eSummary 233\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 8: Understanding the Insurance Aspects 235\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eOrganizing Your Insurance Program 235\u003c\/p\u003e \u003cp\u003eTypes of Property Coverage 237\u003c\/p\u003e \u003cp\u003eTypes of General Insurance 244\u003c\/p\u003e \u003cp\u003eSummary 248\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 9: Buying Your Property 249\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eSelecting the Right Real Estate Agent 249\u003c\/p\u003e \u003cp\u003eDetermining a Property’s Value 252\u003c\/p\u003e \u003cp\u003ePreparing the Offer 255\u003c\/p\u003e \u003cp\u003ePresenting the Offer 256\u003c\/p\u003e \u003cp\u003eGiving a Deposit 261\u003c\/p\u003e \u003cp\u003eMaking a Deal 262\u003c\/p\u003e \u003cp\u003eUsing a Lawyer 263\u003c\/p\u003e \u003cp\u003eInsuring Gain 263\u003c\/p\u003e \u003cp\u003eClosing the Deal 264\u003c\/p\u003e \u003cp\u003eSummary 266\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 10: Managing Your Property 267\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eTypes of Management 267\u003c\/p\u003e \u003cp\u003eKeeping Records 272\u003c\/p\u003e \u003cp\u003eFinding the Right Tenant 275\u003c\/p\u003e \u003cp\u003eMaintaining Rental Properties 285\u003c\/p\u003e \u003cp\u003eAvoiding Common Fire Hazards 291\u003c\/p\u003e \u003cp\u003eImproving the Bottom Line 293\u003c\/p\u003e \u003cp\u003eSaving on Expenses 297\u003c\/p\u003e \u003cp\u003eSummary 298\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 11: Selling Your Property 299\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eDetermining When to Sell 299\u003c\/p\u003e \u003cp\u003eDetermining How to Sell 301\u003c\/p\u003e \u003cp\u003ePreparing to Sell 306\u003c\/p\u003e \u003cp\u003ePreparing the Property 309\u003c\/p\u003e \u003cp\u003eClosing the Sale 312\u003c\/p\u003e \u003cp\u003eMoving On 314\u003c\/p\u003e \u003cp\u003eSummary 315\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 12: Understanding Financial and Estate Planning 317\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eAn Introduction to Financial Planning 317\u003c\/p\u003e \u003cp\u003eAn Introduction to Estate Planning 317\u003c\/p\u003e \u003cp\u003eSummary 331\u003c\/p\u003e \u003cp\u003e\u003cb\u003eAppendix 333\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eForm 1: Personal Cost-of-Living Budget 333\u003c\/p\u003e \u003cp\u003eForm 2: Personal Net-Worth Statement 336\u003c\/p\u003e \u003cp\u003eForm 3: Calculating Your Gross Debt-Service (GDS) Ratio 341\u003c\/p\u003e \u003cp\u003eForm 4: Calculating Your Total Debt-Service (TDS) Ratio 342\u003c\/p\u003e \u003cp\u003eForm 5: Projected Cash Flow 344\u003c\/p\u003e \u003cp\u003eForm 6: Projected Income and Expense Statement 346\u003c\/p\u003e \u003cp\u003eForm 7: Projected Balance Sheet 347\u003c\/p\u003e \u003cp\u003eForm 8: Income Approach Worksheet 348\u003c\/p\u003e \u003cp\u003eForm 9: Investment Property Analysis Checklist 350\u003c\/p\u003e \u003cp\u003eChart 1: Criteria for Determining Real Estate Cycle 352\u003c\/p\u003e \u003cp\u003eChart 2: Recovery on Renovation Costs 352\u003c\/p\u003e \u003cp\u003eChart 3: Amortization Period in Year 353\u003c\/p\u003e \u003cp\u003eChart 4: Interest Payments 353\u003c\/p\u003e \u003cp\u003eChart 5: Prepayment or Increased Payment Savings 354\u003c\/p\u003e \u003cp\u003eChart 6: Mortgage Amortization Chart 354\u003c\/p\u003e \u003cp\u003eChart 7: Monthly Mortgage Payments for Principal Plus Interest 355\u003c\/p\u003e \u003cp\u003eChecklist 1: Real Estate Assessment Checklist 356\u003c\/p\u003e \u003cp\u003eChecklist 2: Mortgage Checklist 364\u003c\/p\u003e \u003cp\u003eChecklist 3: Real Estate Purchase Expenses Checklist 368\u003c\/p\u003e \u003cp\u003eChecklist 4: Business Deductions Checklist 370\u003c\/p\u003e \u003cp\u003eChecklist 5: Landlord and Tenant Suite-Inspection Checklist 372\u003c\/p\u003e \u003cp\u003eChecklist 6: Master Checklist for Successful Real Estate Investing 376\u003c\/p\u003e \u003cp\u003e\u003cb\u003eGlossary 383\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eFurther Education and Information 395\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eIndex 397\u003c\/b\u003e\u003c\/p\u003e  \u003cp\u003e\u003cb\u003eDOUGLAS GRAY\u003c\/b\u003e, B.A., LL.B., formerly a practicing lawyer, has extensive experience in all aspects of real estate and mortgage financing. He has acted on behalf of buyers, sellers, developers, investors, lenders and borrowers. In addition, he has over 35 years of personal experience investing in real estate. He is the author of 26 best-selling real estate, business and personal finance books, and is as well a consultant and columnist. \u003c\/p\u003e\u003cp\u003eMr. Gray is president of the Canadia Enterprise Development Group Inc. and lives in Vancouver, BC. His website is www.homebuyer.ca.   \u003c\/p\u003e\u003cp\u003eCanadians are investing in residential real estate in unprecedented numbers. Especially in times of economic uncertainty, Canadians are banking on the longterm value appreciation and stability that real estate represents. If you are among those investors who have already purchased a first or second income property, or if you are at the point where you are seriously considering taking the first step, you have at your fingertips the most trusted and comprehensive resource available to give you a thorough understanding of the pros and cons of real estate investing and what you need to do to properly prepare to become an investor. \u003ci\u003eMaking Money in Real Estate,\u003c\/i\u003e 3\u003csup\u003erd\u003c\/sup\u003e Edition is an exceptional guide and resource designed to be actively consulted and successfully applied. The author, Douglas Gray, draws on his vast experience as a lawyer, consultant and author to offer investors—both novice and veteran—an “A to Z” of “ street-smart” real estate investment knowledge and strategies. \u003c\/p\u003e\u003cp\u003eAmong the many topics covered in clear non-technical language are how to: \u003c\/p\u003e\u003cp\u003e\u003c\/p\u003e\u003cul\u003e\n\u003cli\u003eUnderstand the real estate market cycles\u003c\/li\u003e \u003cli\u003eFind a property and assess its investment potential\u003c\/li\u003e \u003cli\u003eBuild a trustworthy real estate team\u003c\/li\u003e \u003cli\u003eArrange financing on good terms\u003c\/li\u003e \u003cli\u003eUse negotiating tactics that work\u003c\/li\u003e \u003cli\u003eUnderstand tax and legal issues\u003c\/li\u003e \u003cli\u003eManage a property\u003c\/li\u003e \u003cli\u003eAvoid the pitfalls that many investors fall into\u003c\/li\u003e \u003cli\u003eExamine the pros and cons of non-residential property investment options\u003c\/li\u003e\n\u003c\/ul\u003e \u003cp\u003eThe glossary, checklists, mortgage tables, sources of further information and a comprehensive index round out this book. \u003c\/p\u003e\u003cp\u003eReal estate is long-term investment. Be informed—avoid the pitfalls and make prudent decisions, because those choices will have a significant impact on your financial health. Look to \u003ci\u003eMaking Money in Real Estate\u003c\/i\u003e as the benchmark of “how to” for profitable real estate investing.\u003c\/p\u003e","brand":"Wiley","offers":[{"title":"Default Title","offer_id":47989556019429,"sku":"NP9781118115947","price":45.0,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1842\/7735\/files\/9781118115947.jpg?v=1761784581","url":"https:\/\/k12savings.com\/es\/products\/making-money-in-real-estate-isbn-9781118115947","provider":"K12savings","version":"1.0","type":"link"}