There are plenty of books offering "sure-fire" real estate investment tips. But when it comes to sharing trade secrets, builder/developers are the ultimate source of information. Now, in Building Real Estate Riches a highly successful builder/developer reveals, for the first time, his techniques for reaping maximum profits from real estate investments. More importantly, he shows how you can use those techniques to cash in on today's new home market.
From scouting the best locations and planning cost-effective construction to selling quickly for maximum profit, Chris Condon covers all the bases. He offers expert guidance on the entire decision making process. Building Real Estate Riches shows you how to successfully invest in the new home real estate market. You'll discover how to:
- Get the maximum value out of a new home with the least possible investment
- Create homes that buyers will compete for
- Use cost-cutting techniques that don't compromise quality
- Get your house built without giving away the profit
- Build your dream home, rental properties and your wealth one house at a time
- Live debt-free while amassing equity through real estate
Featuring a companion website where you can learn more about builder secrets, Building Real Estate Riches puts you on the road to financial independence today.
Table of Contents
|
Preface |
vii |
|
Acknowledgments |
ix |
|
Introduction |
xi |
|
Rental Investments |
xii |
|
Get Started Today! |
xiii |
| 1. |
The Equity Strategy |
1 |
|
Steps to Building Equity |
3 |
|
The Cash Flow Strategy |
3 |
|
So Where Do You Start? |
4 |
|
Be Prepared to Ride It Out |
7 |
| 2. |
Location, Location, Location |
9 |
| 3. |
Cheap Dirt, Dirt Cheap |
13 |
|
Picking a Lot |
13 |
|
Now Look Down |
16 |
|
Other Considerations |
19 |
|
A Checklist |
22 |
| 4. |
A Good Foundation |
27 |
|
Slabs |
29 |
|
Crawl Spaces |
29 |
|
Basements |
29 |
|
The Cost Effective Choice |
30 |
| 5. |
Choosing a Style |
33 |
| 6. |
Size Matters |
39 |
| 7. |
Pick a Plan |
43 |
|
Off-the-Shelf Plans |
45 |
|
Determine Your Needs |
46 |
| 8. |
How Nice Is Too Nice? |
51 |
|
Is It a Good Investment? |
53 |
| 9. |
Will It Appraise? |
57 |
| 10. |
Am I Normal? |
61 |
| 11. |
Go Shopping |
63 |
|
Take Good Notes |
65 |
| 12. |
A Borrowed Idea Is a Good Idea |
69 |
| 13. |
Pump Up the Volume |
75 |
| 14. |
Where Do You Live? |
79 |
|
Master Bedroom and Bathroom |
79 |
|
Kitchen and Family Room |
80 |
| 15. |
Value Engineering |
83 |
|
What Is Value Engineering |
84 |
|
Master List of Cost Savers |
84 |
|
Choose a Cost Effective Style |
114 |
| 16. |
Do It Yourself |
117 |
|
Sweat Equity Work |
118 |
|
Work You Can Do During Construction |
118 |
| 17. |
Decorate for Resale |
123 |
|
Inside the House |
123 |
|
Outside Decorating |
125 |
| 18. |
Rental Properties |
127 |
|
What Makes a Good Rental House? |
127 |
|
Who Rents, and Why? |
128 |
|
Property Management |
129 |
|
Cash Flow |
129 |
|
Set Up an LLC |
129 |
| 19. |
Who's Doing the Building? |
131 |
|
Hiring a Builder |
131 |
|
Acting as Your Own General Contractor |
132 |
|
Hiring a Manager |
134 |
|
Becoming a Builder |
135 |
|
Let Someone Else Build It! |
135 |
| 20. |
Contracting |
137 |
|
Let the Fun Begin! |
139 |
|
The Contract |
140 |
|
Insurance |
143 |
|
Subcontractor and Contractor Payments |
144 |
|
Lien Waivers |
144 |
|
Volume Is King |
145 |
| 21. |
Financing |
147 |
|
Construction/Permanent Loan |
147 |
|
Construction Loan |
148 |
|
Permanent Mortgage |
151 |
|
Home Equity Loan |
152 |
|
Loan Terms that Can Cost Money |
152 |
|
Look Competent |
155 |
| 22. |
The Moment of Truth |
157 |
|
Glossary of Terms |
159 |
|
Index |
169 |
|
About the Author |
178 |