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    How to Put Together a Small Real Estate Empire from Scratch
    How to Put Together a Small Real Estate Empire from Scratch
    How to Put Together a Small Real Estate Empire from Scratch
    Ebook84 pages1 hour

    How to Put Together a Small Real Estate Empire from Scratch

    By Pat Sims

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    About this ebook

    Have you wondered about alternative investments to the stock market, mutual funds and ETFs? Well, real estate has been here all along and many people would choose it but just don't understand how it all works. This easy-to read primer shows how experienced investors make their money and maintain a positive cashflow for the rest of their lives. Learn how income properties are valued and how 'capitalization rates' affect them. Learn where the initial money comes from and how you can find the cash you need to get started or to move up to something bigger. How much should you pay? How to negotiate the best price. When to buy and when to sell. Mortgages and other loans. Using leverage to buy another property. How to increase value. This eBook is a great start.

    LanguageEnglish
    PublisherPat Sims
    Release dateJul 16, 2012
    ISBN9780987840943
    How to Put Together a Small Real Estate Empire from Scratch
    Author

    Pat Sims

    Pat Sims has been working in real estate nearly all his adult life in Europe, Australia and North America. He has worked as a leasing agent for residential and commercial investors, a real estate salesperson, an appraiser, a property inspector, a land surveyor, a property manager, a developer, and an investor. He has learned from some of the best and most successful minds in the business and has been an educator, author, course designer, and text-book editor for international real estate institutes, associations, and brokerages. He has owned a number of small businesses and was a co-creator of a weekly newspaper that morphed into a daily. His popular seminars have been attended by more than 20,000 people and have ranged across the entire real estate spectrum including residential marketing, commercial leasing and sales, and business brokerage. Today he is a full-time author and publisher of industry self-help eBooks and has dabbled in the uncertain world of fiction. He lives in Nova Scotia and travels widely.

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      Book preview

      How to Put Together a Small Real Estate Empire from Scratch - Pat Sims

      How to Put Together a Small Real Estate Empire

      from scratch

      By Pat Sims

      -

      Smashwords Edition

      Copyright 2012 Pat Sims

      All rights reserved. No part of this material may be reproduced or shared without the written permission of the author or the publisher.

      ISBN 978-0-9878409-4-3

      Published by

      From a Distance Publishing

      From a Distance Publishing exclusively publishes eBooks for distribution and sale on the internet. For more information please go to http://www.fromadistancepublishing.com

      Author

      Pat Sims

      Front Page Image

      The front page photo of the Williams Apartments was taken by Nyttend who made it available to the Public Domain through Wikimedia Commons.

      About this book

      This eBook is for those people who are thinking of investing in real estate and for those who may have already started and need some help in getting closer to their goals. It is for those who want to know how it all works and how they can enter this category of investment and wealth enhancement.

      It is strongly recommended that anyone starting out and even the well-seasoned investors should receive independent, competent professional advice before entering any contracts for buying, selling, or leasing real estate. The author and the publisher do not guarantee the accuracy of any material and are not responsible or liable for any errors or omissions.

      Property and other Values

      The values of properties shown here are going to appear ridiculously low to those people living in prosperous areas and, by contrast, others from less well-to-do areas may find them ridiculously high. The remainder might find the values to be close to those in their own communities.

      Wherever you live, you cannot take the values shown here as either accurate or current as things can change very quickly and the very nature of real estate value relates to its location. Some guidance is provided on how appraisers determine values but you will need to do your own research through the market resources discussed here.

      The figures, interest rates, and values shown here are for illustration purposes only.

      About the Author

      Pat Sims has been working in real estate nearly all his adult life in Europe, Australia, and North America. He has worked as a leasing agent for residential and commercial investors, a real estate salesperson, an appraiser, a property inspector, a land surveyor, a property manager, a developer, and an investor. He has learned from some of the best and most successful minds in the business and has been an educator, author, course designer, and text-book editor for international real estate institutes, associations, and brokerages.

      His popular seminars have been attended by more than 20,000 people and have ranged across the entire real estate spectrum including residential marketing, commercial leasing and sales, and business brokerage.

      Today he is a full-time author and publisher of industry self-help eBooks and has dabbled in the uncertain world of fiction. He lives in beautifully in Nova Scotia and travels widely.

      Table of Contents

      Chapter 1 An Introduction to Real Estate Investment Opportunities

      Chapter 2 The Ways Investors Make their Money

      Rental Income; Capital Gain; The flip; Accelerated capital gain; Mortgage paydown; Tax benefits; Leverage/mortgage takeout; Land Development. Tax Issues

      Chapter 3 The Case for Single Family Homes

      Advantages

      Criteria for a ‘first home’ purchase; Improvement/renovations/updates.

      Example of a Home Rental Income — the essential math

      Chapter 4 When to buy and when to sell

      Mortgages

      Chapter 5 Scratch

      Savings; Partnerships; The seller; Leverage; Lease-to-buy; Tax Sales and Foreclosures; Other freebies.

      Chapter 6 How much to pay and how to negotiate

      Negotiating techniques

      Chapter 7 Small Apartment Buildings

      How they are appraised; Value = NOI ÷ Capitalization rate; Rules of thumb

      Chapter 8 Making the Most of Your Investment

      Increasing Income; Decreasing expenses; Improving the Cap. rate; The effect of mortgages.

      Chapter 9 Foreclosures and Tax Sales

      Chapter 10 The plan to go from scratch to wealth

      The Reluctant Investors' Lament

      Other Books By Pat Simms

      Chapter 1

      An Introduction to Real Estate Investment Opportunities

      I want to take you on a journey into real estate investing and help you build a profitable portfolio of properties. From personal experience, I know that if I provide lots of facts, figures, charts, and spreadsheets it will only succeed in boring you and you may not complete this eBook. I think you need to have ideas explained simply so you can use what you like and discard the rest. I hope you won’t cherry-pick the chapters because you could miss some important points.

      I have tried to fill every page with valuable information, ideas, techniques, and the motivation to provide you with a good grounding in this, the most exciting investment alternative of them all.

      In your search for wealth, you could have chosen the hospitality industry, retailing, manufacturing, finance, agency, or employment but instead you chose real estate. Real estate has a special appeal for nearly everyone. It is not so much that we love it, we’re just fascinated by it. We have all heard people who say they bought their first home a generation ago when they were young and it cost just a few thousand dollars. And now it’s worth a half million or more. It is one of the few assets that is expected to grow rather than wear out and end up at the dump.

      Maybe someone you know has converted an almost derelict building into flats or condos or perhaps that spare piece of land you have walked past repeatedly for years is now being developed into a shopping plaza. We all want to know how it was done and whether we could do it, too.

      Even though some of the richest people today have made their pile through technology the fact remains that most millionaires can trace their fortune to their investments in real estate. Many were astute investors with the smarts to buy right and move up while others were just regular people or even dummies who happened to luck in.

      One of the problems with the pursuit

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