Make Money with Condominiums and TownhousesIn the Make Money series, renowned real estate investor and bestselling author Gary W. Eldred shows you how to profit from the safest, most reliable wealth builder in the world-real estate. With coverage of all the fundamentals-from finding the right properties to financing and managing them-Eldred shows you the ropes so you don't have to learn important lessons the hard way. Unlike general guides to investing in real estate, each title in the Make Money series gives you the specialized expertise necessary to fully profit from a select investment strategy. Make Money with Condominiums and Townhouses shows homebuyers and investors how to travel the road to real estate wealth-often with little or nothing down. As an affordable investment vehicle, condominiums and townhouses offer numerous advantages over other types of rental property-they require relatively little day-to-day management, they tend to attract more desirable tenants than other rental properties, and they offer low risk and high returns. Full of time-tested techniques and proven money-making strategies, Make Money with Condominiums and Townhouses will show you how to: * Relax while you put your money to work * Find properties with high rates of appreciation * Evaluate homeowner association finances * Choose profitable locations * Understand the changing demographics that may affect your investment * Finance your properties with little or no money down * Achieve positive cash flow quickly * Build up equity * Understand by-laws, disclosure statements, and management contracts |
Contents
| 1 | |
2 Bulls Bears and Cash Cows | 21 |
3 Get to Know the Development | 47 |
4 Do the HOA Finances Look Good? | 65 |
5 What Do Condo Residents Say? | 91 |
6 More Likes and Dislikes of Community Living | 117 |
7 Understand the Bylaws | 137 |
8 Understand the Declaration | 155 |
9 Understand the Rules and Regulations | 183 |
10 Choose a Profitable Location | 209 |
11 Predict the Future | 231 |
12 Buy and Finance Your Condominiums | 249 |
13 Tailor Your Lease Agreements | 267 |
14 Your Easier Path to Wealth and Income | 281 |
Index | 285 |
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Common terms and phrases
agent apartment appreciation bargain Board of Directors BTCF budget builder building buyers bylaws can’t cash flow caveat emptor common areas common elements common expenses complex condo investors condo prices condo/townhouse condominium unit condos and townhouses costs coverage credit score declaration demographics documents doesn’t easement enforce erty Exhibit 8.1 Continued financing Florida foreclosures Here’s HOA board HOA members HOA rules HOA’s HOLLOW RIDGE HOMEOWNERS home prices homebuyers Hurricane Andrew income investment lien live loan Longboat Key look maintenance market value ments monthly negotiate neighborhood parking payment percent Pine Valley pool profit rates real estate rent rental renters repair require resale package residents responsibility RIDGE HOMEOWNERS ASSOCIATION Sarasota County Section sell seller signature loans single-family houses special assessment stocks tax-free tenants tions unit owners vote who’s won’t you’re