Real Estate
A MUST-READ GUIDE TO REAL ESTATE INVESTING
DURING TURBULENT TIMES
GETTING STARTED IN REAL ESTATE INVESTING
THIRD EDITION
Given the current state of the economy, you might be asking yourself if right now is the right time to be investing in real estate. With the third edition ofGetting Started in Real Estate Investing as your guide, you'll quickly discover how a combination of commitment and caution can help you make it in today's market.
Designed for investors who want to get started in real estate, but don't know where to begin, this reliable resource will help you break into this fast-moving field and build equity the right way. Getting Started in Real Estate Investing, Third Edition addresses everything from selecting the right properties and becoming a landlord to using the proper tax strategies and finding the right professionals to work with. It also outlines issues youmust be aware of in light of recent events, including the best ways to finance your real estate investments, considering the status of mortgage financing, and new requirements that may be thrown at borrowers.
The new edition is updated to include information on: Surviving in the post-bust housing market Picking investments with the new credit realities Looking ahead to future housing booms Reading the emerging housing trends
Written in a straightforward and accessible style—with a focus on residential and multifamily properties—Getting Started in Real Estate Investing, Third Edition also contains helpful information that will allow you to analyze your financial ability to buy and hold real estate as well as avoid potential pitfalls.
In order to excel in real estate investing, you need to start by defining what you want to do and how much risk you can afford. But ultimately, success depends on making informed decisions about where and when to invest, andGetting Started in Real Estate Investing, Third Edition gives you the tools to achieve these goals—even under the most difficult market conditions.
MICHAEL C. THOMSETT has written more than sixty books on investing, real estate, business, and management. He is the author of several Wiley books, including the eight editions of the bestsellingGetting Started in Options, as well asGetting Started in Property Flipping and the two previous editions ofGetting Started in Real Estate Investing.
About the Author vii
Introduction
The Allure of Property 1
Chapter 1 Should You Be a Real Estate Investor? 5
Chapter 2 How to Choose Property 43
Chapter 3 Financing Your Investment 69
Chapter 4 The Cost of Borrowing 93
Chapter 5 Tax Benefits of Real Estate 115
Chapter 6 Setting Up Your Books 151
Chapter 7 Managing Your Investment 164
Chapter 8 Analyzing the Market 183
Chapter 9 Analyzing Your Financial Capability 202
Chapter 10 Working with Professionals 213
Chapter 11 Becoming a Landlord 234
Chapter 12 The Fixer-Upper Market 257
Chapter 13 The Property-Flipping Market 270
Chapter 14 Passive Investments 282
Chapter 15 Other Ways to Invest 300
Chapter 16 Setting Your Investment Goals 309
Appendix 319
Glossary 333
Index 349
