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Real Estate Investing: A Guide for Real Estate Agents and Investors (Effective Strategies for Growing Your Real Estate Business Online)

Real Estate Investing: A Guide for Real Estate Agents and Investors (Effective Strategies for Growing Your Real Estate Business Online)

Автор Gilbert Crouch

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Real Estate Investing: A Guide for Real Estate Agents and Investors (Effective Strategies for Growing Your Real Estate Business Online)

Автор Gilbert Crouch

оценки:
5/5 (24 оценки)
Длина:
97 страниц
1 час
Издатель:
Издано:
11 нояб. 2021 г.
ISBN:
9791220865739
Формат:
Книга

Описание

This book will inspire you to consider flipping real estate as your part-time hustle. I want to show you how it can be done effectively, but also make sure you know what you’re getting into. I’ll walk you through all of the steps, from finding a property to purchasing, renovating, and selling that property. Whether you want to do the renovation yourself or hire someone else to do it, this book presents the best approach to these projects.
What the book provides:
  • A guide on how to build a financial model for real estate investment properties
  • A guide on how to determine accurate assumptions for the model
  • A sample model for investment property
  • How to use various indicators from the model to make decisions on real estate investments
  • Email support from the authors regarding this book's content
Real estate is quite a controversial asset class. There are vocal proponents and even more fervent opponents. Well, that is life. To each their own, as it is said. However, real estate investments for us, private investors do not necessarily have to be small 1-bedroom rental units or studios in some shady neighborhood. There are more possible ways to invest into real estate. For example, using securities.
Издатель:
Издано:
11 нояб. 2021 г.
ISBN:
9791220865739
Формат:
Книга

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Real Estate Investing - Gilbert Crouch

Introduction

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I would like to welcome all of you who are here for a visit to Think about and grow Wealth. My aim is to assist you in understanding the ways to succeed in real estate. My aim is to help you in the right direction and help you change your perspective ensure that you realize that money is a powerful instrument to create wealth by using the money of others and become the person you've always desired to be. When you invest in real property, you're helping others as well as the community, and you're creating money, and that's exactly what is the purpose of our existence right?

Chapter 1: What is A Property Survey?

Encumbrances and easements should be recorded on the title to the property and must be made public by the seller to ensure you are aware of the restrictions put on the deed of the property. Sometimes, it's helpful to conduct a survey on the property you intend to buy or sell to have a clear legally-enforceable description of boundaries for your home, and to be aware of any easements or encroachments. Surveys are professional, on-site measurement of property's lot lines and the dimensions of a house and the position of any improvement (such as the construction of a house) on the property as well as any encroachments which may exist, as well as easements (gas electric, gas, etc.) that are public records. It is important to note that a spot survey may include additional measurements for any improvements. Surveyors employ a datum as a reference point to measure elevation. Developers are required to submit a site plan which incorporates information from a survey but includes the additional construction, such as roads being constructed and other improvements that the developer plans to build. Site plans that include survey information and plat maps are filed in offices of the county. They are available to you however you can request an updated survey done. There are three types of surveys used to establish the boundaries of the property.

Bounds and Metes The Metes are compass-based leading and direction (0-90 degrees) and bounds are the physical fixtures that serve as point of reference. For instance the property that is located at the address "9320 Duck Harbor Road, Plymouth, Michigan 48170' was registered in the property tax offices of the county in the form the following:

COM AT E 1/4 POST OF SEC, TH S 1 DEG 05' E 112.42 FT IN E LINE OF SEC, TH S 66 DEG 08' W 702.70 FT IN CENT OF HWY FOR PL OF BEG, TH S 14 DEG 06' E 850.03 FT, TH S 66 DEG 09' W 244.27 FT, TH N 22 DEG 40' W 542.46 FT, TH N 66 DEG 09' E 843.26 FT IN CENT OF HWY TO THE PL OF BEG, SEC 2, T2S-R7E, 3.62 AC

Block and Lot: These are plat reference numbers, or maps showing the property's divisions. A rectangular system of government is divided up the country into six-mile squares that are further subdivided. Every 36-square mile township can be divided in one sq mile segments (640 acres) which are then subdivided into quarter sections, and then into quarter sections and so on. This system of surveying is not usually used on the east coast. It is often referred to in the Public Land Survey System (PLSS). Every survey system requires reference lines or points. The more precise distance descriptions are linked to both the vertical (north towards south) principal Meridian line, as well as the horizontal (east to west) baseline. It has 37 main Meridian lines. The main Meridian line is a parallel vertical line six miles apart, referred to range lines. The township line is a parallel horizontal lines that are 6 miles apart. These lines are referred to as township lines.

A property that is located in the top portion of the northeast section 4 of Somerville Township would be recorded (and read from left to right) as N 1/2 Section 4 Township Somerville.

TRANSFER OF TITLE & DEEDS

Many new homeowners make the mistake of confusing the terms deed and ownership of the land. They are two distinct legal notions. Title is a legal right and deeds are legally binding document which grants the right. In accordance with the Statute of Frauds, a deed must be signed (and certified) document in order to be valid. If your property is in good and undisputed, then you are the owner of both the title and deed to the land. This distinction is because you are able to have title to the property, but you will not own the deed since somebody else has the property but doesn't make use of it as a lender, as an example.

A deed is a legal document in Latin or, as it is related to property, it is a legal transaction. A deed is known as an instrument to convey and the prior owner (grantor) transfers their property (grantee). It includes the party (principal) information as well as property information, a grant clause or 'hereby conveys' ...' as well as a havedum clause, which transfers all rights of the property.

A Grantor is known as a 'party of one part', and the grantee as 'party to that second component'. Only the Grantor has to sign the deed unless restrictions on property are being transferred like a mortgage , or obligations for a condominium unit, where the grantee is also required to acknowledge the title.

The deed has to be acknowledged or witnessed by an official witness, usually by a notary, to show that it's voluntary (i.e. mafia bosses cannot oblige you to acknowledge that deed, but they can oblige the notary to sign the deed).

The deed is referred to as an deed-poll and can't be accepted until handed over to the grantor. Once the deed has been acknowledged, it is recorded in the office of the county clerk in the county in which the property is located.

The deed should contain legal descriptions of the property to ensure you are not in any doubt over who is the owner. The language could be confusing to someone who is reading this for the very first time. For a refresher that the various methods of describing properties are like this:

Metes (angle and distance) and bounds (landmarks).

Reference, plat, or lot and Block: Using existing tax maps or other instruments to identify the property.

Monument: surveyors are able to place iron rods into the ground to indicate boundaries of the property. Iron rods are referred to as monuments despite the fact that the original description of the property was based on actual monuments that wouldn't ever be taken off the property. This is a dated system.

Rectangular survey system used since 1785 and referred to as the federal land survey system. It divides the nation in townships (36 sq miles) with each square mile further divided into sections (1 square mile equals the equivalent of 640 acres) and then to quarter section or quarter quarter ( one eighth ) sections.

Types of DEEDS

The deed that you sign is accompanied by certain rights. Depending on the rights transferred, you could be issued different types of deeds. A complete covenant or general deed includes the common 6 types of covenants, which include:

Contract

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  • (5/5)
    If you want to be a passive investor in crowdfunded real estate deals, or in syndicated real estate funds, this book is essential reading. It was highly recommeded to be by a top person in this area, and I see why -- it provides a careful, comprehensive discussion of this type of investing, with actionable advice.
  • (5/5)
    This is a great book for investors in multifamily real estate. Whether you just started learning or are a more seasoned investor it provides a path to success. It shares all kinds of info including resources to find deals, brokers, funding, and partners. I really like the parts that challenge your mindset that force you to expand what you think is possible. Plus it includes an action plan with steps to take each week for 90 days. Highly recommended.
  • (5/5)
    Funny and witty while explaining basic concepts of real estate private equity. Good for prepping for interview technicals for a career in PE or just gain a better understanding. Would be great if supplemental practice underwriting excel models were available for a more hands on learning experience/understanding. It’s $10 for a great book, definitely a steal.
  • (5/5)
    If you need the mindset. The drive. To defeat your limiting beliefs to transition into Multifamily. You need this book! You need Rod's Podcast as well. This book and Rod's interviews with incredible people add so much value and encouragement that gave me to confidence to take the leap of faith.

  • (5/5)
    Another least of expectation piece, what just a question in my mind were not only completely discussed here, surprisingly it also tackled about the hazards that may be surrounding our humble abode, an example like the asbestos, and more than you could imagine. Great buy!

  • (5/5)
    This book is for people who are into real estate business.
    Just like me. I started with lead generation finding good property to list and I
    want to learn on how to earn good profit from this kind of business. Passive income to everyone.
  • (5/5)
    Super easy read. I finished it in two days. I cannot count the amount of typos of grammatical errors on my fingers and toes (there are a lot...I really question who edited this book), however I still love it. It takes many concepts and breaks them down very practically and when possible uses real life scenarios and investor's experience in certain areas of real estate investing to educate the reader. I found it to be a very valuable read.
  • (5/5)
    This is a great, easy to read book! I began educating myself on the power of real estate about 3 months before reading this book, but as I had yet to make a deal, I figured I would pick up this book. From the various books I had already read, and the Bigger Pockets Podcast (also 5 stars, 10/10 would recommend that you listen to it) I already had a general understanding of many of the topics covered, but it allowed me to cement that knowledge and still pick up quite a few additional tidbits of information.
  • (5/5)
    This book gave us so many ideas on how and why to basically become our own turnkey company to ourselves, and it gives us the confidence to build a real estate team in the cities where we will be investing. Packed with very practical advice in every chapter.
  • (5/5)
    I’ve learned a lot from this book. I was able to buy my four unit apartment with little money down since 4 units and smaller are treated as a single family home.

  • (5/5)
    This is a great book for beginners and experienced real estate investors! I really liked how everything was broken down and explained in detail. It also comes with useful digital resources, such as the rental property calculator. Highly recommend!

  • (5/5)
    Every Realtor and every potential real estate investor should read this book. If you are a real estate professional, it's probably worth remembering that your KW competitor has read it and is probably using the wisdom in this book in their presentations to win clients.
  • (5/5)
    I actually use this as a supplemental text for a college level textbook for an introduction to RE Investing. Great overview of fundamentals
  • (5/5)
    Read this very thorough book to answer all your questions and obtain informative insight. Well-organized and readable . Filled with actionable advice.

  • (5/5)
    This was my first Real Estate Investing book to read and it was helpful. The way the author explains things is easy to understand, but this also seems like it's more intended for novice investors. I just finished Building Wealth One House at a Time and it got more into the numbers side of things, but still probably more for novice investors. I just started What Every Investor Needs to Know About Cash Flow - definitely more advanced number crunching involved here.
  • (5/5)
    I became aware of this book after listening to the author on various podcasts about real estate investing. If you've considered investing in short term rentals and were wondering where to start, begin here.
  • (5/5)
    The book is fantastic and very interesting about holding on rental property. You are gonna love it. It's worth it. Clear and easy to read

  • (5/5)

    1 person found this helpful

    I really liked how this first took a step back and go over the big picture for beginners. Too much material out there gets into the weed too fast. This companion book to the course worked really well. I learned as much about the first principles of investing in addition to the supplemental concepts needed to apply it to real estate. I can even use calculators to help me quickly assess.

    1 person found this helpful

  • (5/5)
    I like most people out there, have a 9-5 job. It sucks doesn't it? Recently have learnt about the idea of 'passive income' and its really helped me see the light at the end of the tunnel. Because I definitely don't want to be working for too much longer under a boss. Overall, there are many ways to make passive income and real estate is definitely something I would look into. Great book that shows a lot about how to do this!
  • (5/5)
    The book is fantastic and very interesting about holding on rental property. You are gonna love it. It's worth it. Clear and easy to read

  • (5/5)
    One the best book . Deep insights into rental property investment. Overall value for money!
  • (5/5)
    Really good book! The book provides some useful tips on the most common mistakes and how to avoid them.
  • (5/5)
    The book is fantastic and very interesting about holding on rental property. You are gonna love it. It's worth it. Clear and easy to read

  • (5/5)
    I was curious to know something more about the "Real Estate" world...But I didn't know where to start.
    The book goes from the definition to building passive income with it, I finally start to understand more and more.
    Well written, I recommend it!