Real Estate Riches E-Book

Dolf de Roos

• Herausgeber: John Wiley & Sons
• Kategorie: Fachliteratur
• Sprache: Englisch

Seitenzahl: 272

Veröffentlichungsjahr: 2012

Beschreibung

An all-time bestseller, Dolf de Roos?s classic Real Estate Riches shows you how to find great deals and make great profits in the real estate market. You?ll learn why real estate is such a reliable moneymaker and how to achieve the biggest return possible on your investment. Full of time-honored wisdom, proven tactics, and quick-and-easy tips, this book shows you how to find the best properties with the most potential, analyze deals, negotiate and submit offers, effectively manage properties, and dramatically increase the value of your real estate without spending much money. If you want to be your own boss and quit the nine-to-five life, Real Estate Riches shows you how.

Leseprobe

Contents

Title

Copyright

Foreword

Praise for Real Estate Riches

Acknowledgments

Preface

Part One: Why is Property So Good?

Chapter 1: Four Magic Questions

Question One

Question Two

Question Three

Question Four

Chapter 2: Conspiracy Theory

Increases in Asset Values

Yields

Chapter 3: A Taxing Issue

Chapter 4: Beating the Averages Easily

The Numbers Game

Beating the Averages through Geography

Beating the Averages through Demographics

Life is a Holiday by the Seaside

Keeping Your Eye on the Market

Chapter 5: Yes, But . . .

Chapter 6: Summary: Why Invest in Real Estate?

Part Two: Okay! Show Me How to Do It!

Chapter 7: The 100:10:3:1 Rule

Chapter 8: Finding Properties

Classified Advertisements

Real Estate Magazines

Real Estate Agents

Off-Market Sales

Write Your Own Advertisements

Other Sources of Property Listings

Chapter 9: Analyzing Deals

Yield

Cash-on-Cash Return

Internal Rate of Return

Other Factors to Consider

Chapter 10: Negotiations and Submitting Offers

How to Make Your Offer Incredibly Seductive to the Seller

It’s Just a Game of Poker

Chapter 11: Getting High on Opium (aka OPM)

Finding Sources of Finance

Various Classes of Mortgages

Should You Pay Off the Mortgage?

Some Closing Thoughts on Mortgages

Chapter 12: Massively Increase the Value of Your Properties (Without Spending Much Money)

The Humble Carport

Let’s Build Five Storage Garages

Chapter 13: Managing Your Properties

Tenant Selection

Finding Tradesmen

How to Get a Tradesman to Do Your Work First, Always

Rule Enforcement

Accounting

Evictions

Property Managers

Part Three: Liftoff!

Chapter 14: Residential versus Commercial Property

Classes of Property

The Philosophical Difference Between Residential and Commercial Property

Rentals

Care of the Property

Lease Length

Getting a New Tenant

Finding a New Tenant

Capital Required to Buy

Loan-Value Ratios Available

Management Overheads

Residential or Commercial—Which is Right for You?

Chapter 15: Government Interference

Chapter 16: The Eight Golden Rules of Property

Chapter 17: The World is Your Oyster

Appendix: Other Books

About the Author

Index

Copyright © 2005 by Dolf de Roos, Ph.D. All rights reserved.

Published by John Wiley & Sons, Inc., Hoboken, New Jersey.

Published simultaneously in Canada.

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Library of Congress Cataloging-in-Publication Data:

De Roos, Dolf.

Real estate riches : how to become rich using your banker’s money / Dolf de Roos.—[New ed.]

p. cm.

Originally published: New York : Warner Books, 2001.

Includes index.

ISBN 0-471-71180-2 (pbk. : alk. paper)

1. Real estate investment. 2. Real estate investment—Finance. 3. Mortgage loans. I. Title.

HD1382.5.D47 2004

332.63’24—dc22

2004058398

Foreword

Baseball has blessed me with a sensational career and an avenue to reap rich financial rewards. However, the hard work does not stop in the baseball diamond, nor does it end with the paychecks. I am acutely aware that many professional athletes are paid well for their talents but, sadly, are victims of poor financial planning.

When I landed my well-publicized 10-year, $252 million contract, I set about finding an investment vehicle that would ensure my financial fitness long after baseball. I read many books on wealth, entrepreneurship, and investing, as well as biographies of successful individuals, but nothing inspired or captivated me as much as Real Estate Riches by Dolf de Roos. Dolf makes real estate investing simple and accessible to anyone who has the will to succeed. He is an All Star in his field!

On my journey to verify the opportunities available in real estate, I met with Joanne Mitchell, a good friend and local real estate advisor who owns and operates several thousand apartments in Miami. She immediately recognized the copy of Real Estate Riches under my arm and consequently pulled her copy out from her desk. Her book had been highlighted, and notes had been scribbled in the margins—it had been an inspiration to her as well. This book holds powerful recipes for prosperity.

I had to meet this wizard of real estate called Dolf de Roos. After great effort due to scheduling conflicts, we met in Dallas. To his surprise I was a baseball player and not a basketball player, and to my surprise he was accessible and eager to teach a newcomer his strategies. Clearly whether you are on the baseball field or a field slated for real estate investing, life is a numbers game. Some days you score big, and others, well . . . you don’t; but if you practice hard, learn from your mistakes, stay focused, and above all have passion, then the numbers start to work in your favor and your success fuels even more success.

I credit Real Estate Riches and Dolf de Roos as valuable guides that helped give me the confidence to form Newport Property Ventures. I began by investing in a small duplex in an emerging area of South Florida, which led to the acquisition of several other income-producing properties. With hard work and determination my projects and portfolio continue to grow with phenomenal returns. Dolf’s principles are working strong!

That Dolf has passion is apparent from the first few pages of this book. This passion and enthusiasm for his game is even more apparent when you meet him in person. Recently we met in New York where we once again reviewed the principles that lead to great success in a newfound sport from which I will never have to retire!

—Alex Rodriguez, #13

M.L.B. American League MVP

Founder and CEO, Newport Property Ventures

August 2004

Praise for Real Estate Riches

“I have always been interested in property but have never had the courage to admit to myself that property is in fact a passion of mine and not just an interest. Your book, Real Estate Riches, has helped me make that final leap and as a result I have decided to pursue my passion and restructure my life to make more time for real estate investment.”

—Paul Dinis, South Africa

“I read your book, Real Estate Riches, and I loved it. Thanks for breaking things down in such a simple fashion. I am now looking to get into real estate investing.”

—Mike Desroches, New York

“I just closed my first Las Vegas property last week and want to thank you for pointing me in the right direction and giving me the tools to begin my investing. I feel like I have begun building my real estate dynasty! I am very happy; thank you so much!!!!!!!!”

—Pamela, California

“Thank you so much for the great book Real Estate Riches.”

—Moshe Mizrachi, California

“I have read Dr. Dolf de Roos’ book titled Real Estate Riches. Two weeks ago I bought my first rental flat, then a week later my first rental building (six flats). It’s magic to create wealth out of thin air. Thank you for your inspiring books.”

—L.C., France

“I bought your book Real Estate Riches and your course Property Investor’s School and used the information to buy a $1.2 million commercial building. Thanks for all of the great information. I couldn’t have done the deal without the information I learned from you. I used your advice to do the deal and immediately raised the building value by $160,000.”

—Sam Beckford, Vancouver, Canada

“I have just finished reading your book Real Estate Riches. The information was helpful and encouraging. Thanks for your willingness to share your experiences.

“Along with my partner (older sister) I am a novice investor. Six months ago, we purchased our first property, a six-unit commercial building. Last week, we made an offer on a second commercial property. So far, it is exciting work. I hope that the excitement and profits continue!”

—Mike W. Sanderson, Virginia

“I have just completed your book Real Estate Riches. What a great book.”

—Brian Hunter, Boulder, Colorado

“I am a mother of four and awaiting my turn in ‘real estate riches.’ (That was a great book; I’m reading it again.) Because of the book Real Estate Riches, my husband and I felt bold enough to take over my parents’ property (they didn’t want to deal with the mortgage anymore). We refinanced, took money out, and now are in negotiations to buy an investment property. Dolf de Roos helped us to think out of the box.”

—Vivienne Piña, California

“I have recently joined a real estate company and have read your book Real Estate Riches. I am a keen businessman, and after reading your book property makes a lot of sense. Thank you for the great inspiration.”

—Rudi Maritz, South Africa

“I recently purchased one of your books (I already had Real Estate Riches). I just wanted to say that I am really enjoying them and I can’t wait to actually get out there and utilize the principles. Thank you so much!”

—Mark Smith, Kentucky

“I just wanted to pass along a thank-you for inspiring me to start my real estate investing career. I have been successful in one jointly owned short-term rental property. I am in the process of laying the basic foundation for residential rentals and hope to own my first one June 2004.

“Out of all the real estate gurus I’ve listened to and read, you have reached me the most. The message I received from your books is a source of constant inspiration for me whenever I need it. I love your can-do attitude and upbeat personality. I hope you will continue to write and pass on your experiences.”

—Patrick Mintel, Florida

“Just finished Real Estate Riches and enjoyed it very much. Can’t wait to continue my search for the riches.”

—Becky Moran, Erie, Pennsylvania

“I read your book Real Estate Riches, and found it both empowering and life changing. THANKS. You added value to my life.”

—Wikus Strydom, Cape Town, South Africa

“Thank you for your assistance. I greatly appreciate your time and the valuable information that you have bestowed upon me. This new thinking has changed the direction of my life. Thank you.”

—Emily F. Henderson, California

“Dear Dolf,

I bought your books

I bought your tapes

I bought your seminar

I’ve made millions because of you.

Thanks. I listen, I learn, I do!”

—Steve Gronlund, California

Acknowledgments

My thoughts, theories, methods, mistakes, successes, wins, and learnings in real estate have been formulated over many years. Countless people have—wittingly or unwittingly—contributed to my thinking, from real estate agents, bankers, mortgage brokers, and appraisers to tenants, members of real estate investment associations, and thousands of investors (both budding and experienced) who have honored me by attending my events and who have forced me to expand my thinking. While it is impossible to acknowledge everyone, an array of people deserve and have my deep appreciation. If I have missed you, then I apologize in advance; know that my appreciation is real nonetheless. Sincere thanks go to Trevor Quirk, David Henderson, Mike Pero, Stephen Witte, Kevin O’Gorman, David Grose, Charles Drace, Stephen Collins, Paul Wright, Ron Whiteley, David Thompson, Allen and Kenina Court, Robert Tybon, Dr. John Baen, Diane Kennedy, Tom Wheelwright, Ann Mathis, Kim Butler, Gene Burns, Andy Fuehl, Carrie Putman, Stefan Kasian, Cindy Kenney, Claudia Brelo, Ross Denny, Randy Carder, and Andy Driggs.

On the publication front, I would like to sincerely thank my agent, Larry Jellen, for his vision and confidence. Laurie Harting and Mike Hamilton at John Wiley & Sons, Inc., are a delight to work with, as are Pam Williams and Ken Burlington at the National Association of Realtors.

Finally, I would like to thank my parents for never having told me—not even once—“You can’t do that!”

PREFACE

I DON’T HAVE A JOB. SHAME!

To many people, my situation would be an embarrassment and an imposition. Having no job has a stigma. Take heart: For me it is not a temporary situation. I have been this way since birth. To state it more accurately: