Rights Contact Login For More Details
More About This Title How to Buy and Sell Apartment Buildings, Second Edition
English
STEPHEN VOLLUCCI is President of Cal State Properties, Inc., a commercial real estate brokerage firm specializing in the acquisition, oversight, and disposition of multifamily real estate investments. He consults property owners on how to successfully manage their multifamily and commercial properties and increase their revenue.
English
1. An Investment Plan to Create Wealth.
Discover Life’s Three Chronological Investment Periods.
A Winning Financial Plan up to Age 35.
Investing between the Ages of 35 and 50.
Why It Is Mathematically Impossible to Become Wealthy Earning 20 Percent per Year.
The Best Financial Plan for You.
What It Takes to Become Wealthy.
The Best Investment Strategy over Age 50.
Conquering Your Fears of Investing.
Become a Gold Medalist in Investing.
Summary.
2. Why Real Estate Is Your Best Investment.
Using Real Estate to Control Risks.
Effectively Reducing Your Taxes.
Leveraging That Works.
Why Real Estate Investment Is “Smart”.
Real Estate versus All Other Real Estate Investment.
Three Advantages Apartments Have over Other Types of Real Estate.
The Building Size That Gives You the Greatest Profit Potential.
Apartments—the Coming Bonanza for You.
Summary.
3. The New Approach to Investing in the 21st Century.
Foreclosures—The Big Illusion.
What They Don’t Tell You about Foreclosures.
Why Apartments Are the Best Investment.
Working Smarter Not Harder.
Become a Millionaire in Only Three Moves.
Group Investing.
Step 1: Research.
Step 2: Decreasing the Group Size.
Step 3: Sole Investor.
Summary.
4. How to Effectively Employ Consultants.
Advantages of a Team Approach.
Picking the Right Consultant.
Beware of “Know It Alls”.
Getting the Most Out of Your Consultant.
Controlling Fees.
Avoid Unnecessary Billings.
Protecting Yourself.
Fee versus Commission.
Keep Control.
Your Key Consultant.
Finding a Good Property Manager.
Be Wary of “Mom-and-Pop” Operations.
Be Just as Wary of the “Giants” in the Field.
Procedure Manuals Are Critical.
What to Expect from Your Property Manager.
Controlling Property Management Fees.
Traps to Avoid in the Property Management Agreement.
Finding the Best Attorney for You.
Structuring Contracts to Avoid Litigation.
The Secret to Working with Accountants.
Getting the Most from the Escrow and Title Companies.
The Consultant Who Will Save You the Most Time and Money.
An Effective Way to Save on Commissions.
Understanding How Multiple Listing Services Work.
What to Tell the Building Inspector before an Inspection.
Saving Money Using an Appraiser.
Working with Loan Brokers.
Summary.
5. Buying in the Right Place at the Right Time.
Two Rules for Buying and Selling.
The Benefits of Bottom Fishing.
The Key to Evaluating Locations.
Employment Trends.
Demographic Factors Affecting Apartments.
Apartment Building Cycles.
The Five Phases of an Apartment Cycle.
Master Apartment Economics.
All Markets Rebound Eventually.
The Analytical Approach to Locating Good Areas.
Determining the Best Time and Place to Buy and Sell.
Summary.
6. Easy Steps to Locating Good Property.
Starting Your Search for Quality Apartment Buildings.
Make the Lenders Work for You.
Use Motivation to Your Advantage.
The Secret of Working with Real Estate Licensees.
A Sample Advertisement for Buying Apartments.
A Good Source for Leads.
Using Acquisition Cards.
Getting Sellers to Talk to You.
Reading a Set-Up Sheet.
Summary.
7. Writing an Offer That Will Be Accepted.
When to Use the 80 Percent Rule.
Getting the Seller’s Attention.
Use a Written Offer.
A Purchase Offer Designed for Success.
Make Sure Your Contract Is Legally Binding.
When Dealing with Sellers, Only Go Around Once.
Weak Buyers Market.
Strong Buyers Market.
A Unique Acceptance Letter That Effectively Ties Up Property.
Critical Documents for Due Diligence.
Summary.
8. Highly Effective Techniques for Analyzing Properties.
The Key Figure in Evaluating Investments.
A Sound Down-Market Strategy.
Analyzing Property.
Qualified Appraisers.
Comparable Sales Data or “Comps”.
Gross Multiplier Approach.
Capitalization Rate Method.
Essentials of Property Analysis Software.
The Internal Rate of Return to Aim For.
Revenue Assumptions That Make Sense.
Analyze Expenses Correctly.
Use the Feel-and-Touch Analysis.
Summary.
9. How to Become an Outstanding Negotiator.
The Most Effective Financing Strategies.
Take a Loan “Subject To” Rather Than Assuming It.
Protecting Yourself When Using an All-Inclusive Trust Deed.
A Little Known Secret of the Lease Option.
Who Benefits from Compounding Interest.
Avoiding Deficiency Judgments.
Determining the Cost of Your Loan.
Restrictive Covenants.
Stopping Late Mortgage Payments.
Adjusting Mortgage Payments to Produce Cash Flow.
Getting the IRS to Pay for Your Investment.
Working with Constant Change and Limitations.
Always Think of the Sale When Buying.
Price Strategies That Work.
Figures Smart Investors Want to See.
Never Pay Taxes on Profits Again.
Avoiding Mistakes When Negotiating.
Down Payment Strategies That Work.
Protecting Yourself When the Buyer Wants You to Pay for Repairs.
Why “As Is” Is Now “As Was”.
Possession before Escrow Closes—A Great Strategy for Whom?
When You Should Avoid Raising Rents.
Avoiding Sales Tax Problems.
When to Close Escrow to Avoid Collecting Late Rents.
Beware of Independent Escrow Companies.
Reducing the Cost of Title Insurance.
Controlling Escrow Deposits.
Handling Counter Offers.
Handling Seller’s Remorse.
Summary.
10. Managing Your Property Manager.
The Objectives of a Good Management Plan.
Improving Physical Appearance.
Increasing Rental Income.
Reducing Operating Expenses.
Reducing Insurance and Property Tax Expenses.
Comparing Your Apartment’s Performance to Other Complexes.
Property Manager’s Reports.
Defining Income and Expense Classifications.
Qualifying for the Maximum Tax Write-Off.
Establishing Active Participation.
Summary.
11. Useful Strategies in Marketing Your Property.
The Best Time to Sell Your Property.
Getting Your Property Ready for Sale.
Your Marketing Plan Can Be Individually Tailored.
Choosing the Right Person to Market Your Property.
How Much You Should Pay a Real Estate Licensee.
At What Point Do You Become Liable for Real Estate Commissions?
Discover an Effective Way to Self-Market Your Property.
Making Your Note More Valuable.
Determining Selling Price.
Conservative Set-Up Sheets Are Important.
Controlling Drive-By Inspections.
Keep Your Property Management Company Informed.
What to Do When Dark Clouds Appear on the Title Report.
Looking for Buyers.
A Successful Newspaper Advertisement.
Responding to an Offer.
Protecting Yourself When Your Property Is Tied Up.
Determining If You Have a Real Buyer.
Getting Out of Any Contract Legally.
Closing the Sale with No Strings Attached.
Summary.
12. The Internal Revenue Service’s Best Kept Secret.
Ways to Lower Taxable Income.
Spreading Income over Time.
Spreading Income to Various Entities.
Group Income and Expenses.
Increasing the Depreciation Deduction.
Converting Real Property into Personal Property.
Personal Property Items Found in Apartment Buildings.
The Last Remaining Loophole That Survived Tax Reform.
Deducting Accrued Interest When You’re on the Cash Basis.
The All-Events Test and Economic Performance.
Accounting Method.
Limitations.
You Should Always Defer Paying Taxes.
How to Not Pay Any Taxes on Capital Gains.
Catch-Up Depreciation.
Landlord/Leasee Tax Strategies.
How to Make a Tax Deductible Gift.
Give the Boot to Boot.
Unlimited Real Estate Losses for Real Estate Professionals.
Like-Kind Exchanges Include Leases.
Tax-Deferred Exchanges.
Reverse Exchanges.
Depreciating Land Cost.
Paying Capital Gains . . . A Good Strategy.
Summary.
13. Introducing Tenants-in-Common Form of Ownership.
Ownership Features That Provide Flexibility.
Ways to Save with a Tenants-in-Common Ownership.
Tax Impact of Tenants-in-Common Ownership.
New Guidelines for Tenants-in-Common Interest.
The Number One Pitfall of Security Transactions.
Creating a Nonsecurity Transaction.
Howey Test.
Risk Capital Test.
Williamson Test.
A Novel Way to Market a Nonsecurity.
How to Tap an Unlimited Supply of Buyers.
Protect Yourself When Dealing with Nonsecurity Transactions.
Participating in Profits without Ownership.
Summary.
14. Gain Freedom from Lawsuits.
Painting a True Picture of Litigation.
Protecting Yourself from Lawsuits.
Warning Signs of a Fraudulent Conveyance.
Avoiding Fraudulent Conveyance.
Making Yourself Judgment Proof.
The Uniform Fraudulent Conveyance Act.
Limited Liability Companies.
The Legal Basis for the Family-Limited Partnership.
Hampering Creditors.
Paying Yourself without Paying the Creditors.
Eliminating or Reducing the Cost of Personal Liability Insurance.
Stumbling Blocks of Creditors.
Negotiating a Settlement.
Protection from Creditors of Family-Limited Partnership.
Estate Planning.
Protecting Yourself from Existing Claims.
Asset Protection Plan Using a Foreign Trust.
Summary.
Glossary.
Apartment Periodicals.
Index.
