chơi xổ số keno trực tuyến

{"appState":{"pageLoadApiCallsStatus":true},"categoryState":{"relatedCategories":{"headers":{"timestamp":"2025-01-31T04:01:16+00:00"},"categoryId":34299,"data":{"title":"Real Estate","slug":"real-estate","image":{"src":null,"width":0,"height":0},"breadcrumbs":[{"name":"Business, Careers, & Money","_links":{"self":"//dummies-api.coursofppt.com/v2/categories/34224"},"slug":"business-careers-money","categoryId":34224},{"name":"Personal Finance","_links":{"self":"//dummies-api.coursofppt.com/v2/categories/34273"},"slug":"personal-finance","categoryId":34273},{"name":"Investing","_links":{"self":"//dummies-api.coursofppt.com/v2/categories/34288"},"slug":"investing","categoryId":34288},{"name":"Real Estate","_links":{"self":"//dummies-api.coursofppt.com/v2/categories/34299"},"slug":"real-estate","categoryId":34299}],"parentCategory":{"categoryId":34288,"title":"Investing","slug":"investing","_links":{"self":"//dummies-api.coursofppt.com/v2/categories/34288"}},"childCategories":[],"description":"Find a fixer-upper, a dream home, a place to retire, a vacation getaway, or any other piece of real estate you desire. 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Following, are several important questions to help you decide whether you have what it takes to succeed and be happy with real estate investments that involve managing property.</p>\n<h3><strong>Do you have sufficient time?</strong></h3>\n<p>Purchasing and owning investment real estate and being a landlord are time consuming. The same way an uninformed owner can sell property for less than it’s worth, if you fail to do your homework before purchasing property, you can end up overpaying or buying real estate with a slew of problems.</p>\n<p>Finding competent and ethical real estate professionals takes time. Investigating communities, neighborhoods, and zoning also soaks up plenty of hours, as does examining tenant issues with potential properties.</p>\n<p>As for managing a property, you can hire a property manager to interview tenants, collect the rent, and solve problems such as leaky faucets and broken appliances, but doing so costs money and still requires some of your time.</p>\n<p>Of course, if you hire a competent and experienced property manager, you will be rewarded with less time required for oversight.</p>\n<h3><strong>Can you deal with problems?</strong></h3>\n<p>Challenges and problems inevitably occur when you try to buy a property. Purchase negotiations can be stressful and frustrating. You can also count on some problems coming up when you own and manage investment real estate.</p>\n<p>Most tenants won’t care for a property the way property owners do. If every little problem causes you distress, at a minimum, you should only own rental property with the assistance of a property manager.</p>\n<h3><strong>Does real estate interest you?</strong></h3>\n<p>Some of the best real estate investors have a curiosity and interest in real estate. If you don’t already possess it, such an interest and curiosity <em>can</em> be cultivated. On the other hand, some people simply aren’t comfortable investing in rental property. For example, if you’ve had experience and success with stock market investing, you may be uncomfortable venturing into real estate investments.</p>\n<h3><strong>Can you handle market downturns?</strong></h3>\n<p>Real estate investing isn’t for the faint of heart. Buying and holding real estate is a whole lot of fun when prices and rents are rising. But market downturns happen, and they test you emotionally as well as financially.</p>\n<p>No one has a crystal ball, so don’t expect to be able to buy at the precise bottom of prices and sell at an exact peak of your local market. Even if you make a smart buy now, you’ll inevitably end up holding some of your investment property during a difficult market (recessions where you have trouble finding and retaining quality tenants, where rents and property values may fall rather than rise).</p>\n<p>Do you have the financial (and emotional) wherewithal to handle such a downturn? How have you handled other investments when their values have fallen?</p>\n"},{"title":"Different ways to invest in residential real estate","thumb":null,"image":null,"content":"<p>The first (and one of the best) real estate investments for many people is a home in which to live. Following, are some investment possibilities inherent in buying a home for your own use, including potential profit to be had from converting your home to a rental or fixing it up and selling it.</p>\n<h3><strong>Buy a place of your own</strong></h3>\n<p>Unless you expect to move within the next few years, buying a place may make good long-term financial sense. (Even if you need to relocate, you may decide to continue owning the property and use it as a rental property.)</p>\n<p>In most real estate markets, owning usually costs less than renting over the long haul and allows you to build <em>equity</em> (the dollar difference between market value and the current balance of the mortgage loans against the property) in an asset.</p>\n<h3><strong>Convert your home to a rental</strong></h3>\n<p>Turning your current home into a rental property when you move is a simple way to buy and own more properties. You can do this multiple times (as you move out of homes you own over the years), and you can do this strategy of acquiring rental properties not only with a house, but also with a duplex or another small multi-unit rental property where you reside in one of the units.</p>\n<p>This approach is an option if you’re already considering investing in real estate (either now or in the future), and you can afford to own two or more properties.</p>\n<p>Holding onto your current home when you’re buying a new one is more advisable if you’re moving within the same area so that you’re close by to manage the property.</p>\n<h3><strong>Invest and live in well-situated fixer-uppers</strong></h3>\n<p><em>Serial home selling</em> is a variation on the tried-and-true real estate investment strategy of investing in well-located fixer-upper homes where you can invest your time, sweat equity, and materials to make improvements that add more value than they cost.</p>\n<p>The only catch is that you must actually move into the fixer-upper for at least 24 months to earn the full homeowner’s capital gains exemption of up to $250,000 for single taxpayers and $500,000 for married couples filing jointly.</p>\n<p>Be sure to buy a home in need of that special TLC in a great neighborhood where you’re willing to live for 24 months or more.</p>\n<h3><strong>Purchase a vacation home</strong></h3>\n<p>Many people of means expand their real estate holdings by purchasing a <em>vacation home</em> — a home in an area where they enjoy taking pleasure trips. For most people, buying a vacation home is more of a consumption decision than it is an investment decision. That’s not to say that you can’t make a profit from owning a second home. However, potential investment returns shouldn’t be the main reason you buy a second home.</p>\n<p>Before you buy a second home, weigh all the pros and cons. If you have a partner with whom you’re buying the property, have a candid discussion. Also consult with your tax advisor for other tax-saving strategies for your second home or vacation home.</p>\n"},{"title":"Your real estate investment team","thumb":null,"image":null,"content":"<p>For most people, real estate investing is hands-on and complicated enough to require the services and knowledge of a team of professionals.</p>\n<p>The following is a list of different real estate professionals and service providers you should consider teaming up with as you search for real estate investment opportunities and proceed with the purchase of property:</p>\n<ul>\n<li><strong>Tax advisor:</strong> A good tax advisor can highlight potential benefits and pitfalls of different real estate investment strategies. Make sure that your tax person has experience with real estate investing and understands your needs and specific goals in regard to your property investments.</li>\n<li><strong>Financial advisor:</strong> If you’ve worked with or can locate a financial advisor who sells their time and nothing else, consider hiring them. A true financial advisor can help you understand how real estate investment property purchases fit with your overall financial situation and goals.</li>\n<li><strong>Lender or mortgage broker:</strong> Postpone making an appointment to look at investment properties until after you examine the loans available. You have two resources to consult:\n<ul>\n<li>A lender is any firm, public or private, that directly loans you the cash you need to purchase your property. This type of lender is often referred to as a <em>direct lender.</em> Most often, your list of possible lenders includes banks, credit unions, and private lenders (including property sellers). Lenders tend to specialize in certain types of loans.</li>\n<li>A mortgage broker is a service provider who presents your request for a loan to a variety of different lenders in order to find the best financing for your particular needs. Just like real estate or insurance brokers, a good mortgage broker can be a real asset to your team.</li>\n</ul>\n</li>\n<li><strong>Broker or agent:</strong> Your investment team should include a sharp and energetic real estate broker or agent. All real estate brokers and agents are licensed by the state in which they perform their services.A real estate <em>broker</em> is the highest level of licensed real estate professional, and a licensed real estate sales <em>agent</em> is qualified to handle real estate listings and transactions under the supervision of a broker. The vast majority of real estate licensees are sales agents.</li>\n<li><strong>Appraiser:</strong> An appraiser can be an effective team member if your real estate investment strategy involves buying and selling properties with somewhat-hidden opportunities to add value. Appraisers see many properties over their career and thus often possess insight into real estate opportunities that others miss.</li>\n<li><strong>Attorney:</strong> If you live in an area where attorneys aren’t usually involved in real estate transactions, an attorney may not be necessary. In some states, having an attorney is essential to handle the transaction and closing.In any case, you should consult with an experienced real estate attorney as your investments increase in size and complexity. With more complicated transactions, have the attorney review the documents — even in states where the title or escrow company handles the paperwork and serves as the independent intermediary or closing agent.A good real estate attorney can help you structure proposed transactions. Particularly if you’re looking into a large transaction where you assume loans or you’re attempting to secure special financing, a competent real estate attorney can be invaluable.</li>\n</ul>\n"}],"videoInfo":{"videoId":null,"name":null,"accountId":null,"playerId":null,"thumbnailUrl":null,"description":null,"uploadDate":null}},"sponsorship":{"sponsorshipPage":false,"backgroundImage":{"src":null,"width":0,"height":0},"brandingLine":"","brandingLink":"","brandingLogo":{"src":null,"width":0,"height":0},"sponsorAd":"","sponsorEbookTitle":"","sponsorEbookLink":"","sponsorEbookImage":{"src":null,"width":0,"height":0}},"primaryLearningPath":"Advance","lifeExpectancy":"Five years","lifeExpectancySetFrom":"2023-12-08T00:00:00+00:00","dummiesForKids":"no","sponsoredContent":"no","adInfo":"","adPairKey":[]},"status":"publish","visibility":"public","articleId":296220},{"headers":{"creationTime":"2024-09-07T15:27:45+00:00","modifiedTime":"2024-09-07T15:29:00+00:00","timestamp":"2024-09-07T18:01:02+00:00"},"data":{"breadcrumbs":[{"name":"Business, Careers, & Money","_links":{"self":"//dummies-api.coursofppt.com/v2/categories/34224"},"slug":"business-careers-money","categoryId":34224},{"name":"Personal Finance","_links":{"self":"//dummies-api.coursofppt.com/v2/categories/34273"},"slug":"personal-finance","categoryId":34273},{"name":"Investing","_links":{"self":"//dummies-api.coursofppt.com/v2/categories/34288"},"slug":"investing","categoryId":34288},{"name":"Real Estate","_links":{"self":"//dummies-api.coursofppt.com/v2/categories/34299"},"slug":"real-estate","categoryId":34299}],"title":"REITs For Dummies Cheat Sheet","strippedTitle":"reits for dummies cheat sheet","slug":"reits-for-dummies-cheat-sheet","canonicalUrl":"","快速搜字段擎提高提升":{"metaDescription":"Learn what real estate investment trusts are, their main benefits and attributes, and what to consider before investing in one.","noIndex":0,"noFollow":0},"content":"A real estate investment trust (REIT) is a company that owns, manages, and/or finances real estate holdings. These holdings can be in the form of apartment buildings, hotels, shopping centers, self-storage facilities, warehouses, and even billboards, data centers, cell towers, woodlands, and many others.\r\n\r\nREITs have stock attributes (liquidity and transparency) and, at the same time, enable you to enjoy the benefits of owning income-producing real estate. With this Cheat Sheet, you get a quick primer on the benefits of REIT investment, how to add REITs to your portfolio, how to choose smart REITs, and how to become a virtual landlord without the aggravation of owning private real estate.","description":"A real estate investment trust (REIT) is a company that owns, manages, and/or finances real estate holdings. These holdings can be in the form of apartment buildings, hotels, shopping centers, self-storage facilities, warehouses, and even billboards, data centers, cell towers, woodlands, and many others.\r\n\r\nREITs have stock attributes (liquidity and transparency) and, at the same time, enable you to enjoy the benefits of owning income-producing real estate. With this Cheat Sheet, you get a quick primer on the benefits of REIT investment, how to add REITs to your portfolio, how to choose smart REITs, and how to become a virtual landlord without the aggravation of owning private real estate.","blurb":"","authors":[{"authorId":35328,"name":"Brad Thomas","slug":"brad-thomas","description":"<strong>Brad Thomas</strong> has over 30 years of real estate investing experience. He’s published over 4,000 articles during the last 13 years, and he is the top writer on Seeking Alpha, the world’s largest investing community. He is also the CEO of Wide Moat Research, senior analyst at iREIT®, and a REIT ETF provider (iREIT® MarketVector™ Quality REIT Index). 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He’s published over 4,000 articles during the last 13 years, and he is the top writer on Seeking Alpha, the world’s largest investing community. He is also the CEO of Wide Moat Research, senior analyst at iREIT®, and a REIT ETF provider (iREIT® MarketVector™ Quality REIT Index). Brad teaches REITs at New York University and other schools such as Penn State University, Clemson University, the University of North Carolina, Cornell University, and Georgetown University.</p>","authors":[{"authorId":35328,"name":"Brad Thomas","slug":"brad-thomas","description":"<strong>Brad Thomas</strong> has over 30 years of real estate investing experience. He’s published over 4,000 articles during the last 13 years, and he is the top writer on Seeking Alpha, the world’s largest investing community. He is also the CEO of Wide Moat Research, senior analyst at iREIT®, and a REIT ETF provider (iREIT® MarketVector™ Quality REIT Index). Brad teaches REITs at New York University and other schools such as Penn State University, Clemson University, the University of North Carolina, Cornell University, and Georgetown University.","hasArticle":false,"_links":{"self":"//dummies-api.coursofppt.com/v2/authors/35328"}}],"_links":{"self":"//dummies-api.coursofppt.com/v2/books/"}},"collections":[],"articleAds":{"footerAd":"<div class=\"du-ad-region row\" id=\"article_page_adhesion_ad\"><div class=\"du-ad-unit col-md-12\" data-slot-id=\"article_page_adhesion_ad\" data-refreshed=\"false\" \r\n data-target = \"[{&quot;key&quot;:&quot;cat&quot;,&quot;values&quot;:[&quot;business-careers-money&quot;,&quot;personal-finance&quot;,&quot;investing&quot;,&quot;real-estate&quot;]},{&quot;key&quot;:&quot;isbn&quot;,&quot;values&quot;:[&quot;9781394185351&quot;]}]\" id=\"du-slot-64fa0fdead33c\"></div></div>","rightAd":"<div class=\"du-ad-region row\" id=\"article_page_right_ad\"><div class=\"du-ad-unit col-md-12\" data-slot-id=\"article_page_right_ad\" data-refreshed=\"false\" \r\n data-target = \"[{&quot;key&quot;:&quot;cat&quot;,&quot;values&quot;:[&quot;business-careers-money&quot;,&quot;personal-finance&quot;,&quot;investing&quot;,&quot;real-estate&quot;]},{&quot;key&quot;:&quot;isbn&quot;,&quot;values&quot;:[&quot;9781394185351&quot;]}]\" id=\"du-slot-64fa0fdeadc8d\"></div></div>"},"articleType":{"articleType":"Cheat Sheet","articleList":[{"articleId":0,"title":"","slug":null,"categoryList":[],"_links":{"self":"//dummies-api.coursofppt.com/v2/articles/"}}],"content":[{"title":"Benefits of being a virtual landlord","thumb":null,"image":null,"content":"<p>Being an owner in a REIT (real estate stocks) can be an effective way to gain access to a proven income-oriented asset class — property ownership — but without the day-to-day headaches that can come from being a hands-on landlord.</p>\n<p>By investing in REITs, you can effectively bypass all that by being a virtual landlord instead. Following, are several benefits of investing in REITs.</p>\n<h3><strong>REITs invest in a wide range of property types</strong></h3>\n<p>REITs invest in a wide range of property types. No matter where you’re headed locally (in the United States, at least), there’s a good chance you’ll find yourself in close proximity to a REIT–owned property.</p>\n<p>That workplace, apartment building, grocery store, medical facility, hotel, or gym? They might be REIT-owned properties. By leasing out space and collecting rent on its real estate, REITs generate income that is then paid out to shareholders in the form of dividends.</p>\n<h3><strong>REITs can have strong pricing power</strong></h3>\n<p>As a REIT owner, you can take advantage of the pricing power that exists with income-producing real estate. REITs can capitalize on the demand for leasing space that exceeds new supply, which allows rents to grow. This supply-demand imbalance gives most REITs strong rental pricing power.</p>\n<p>Net-lease REITs (REITs that own properties leased to single tenants under agreements in which the tenant pays for rent and some or all of operating expenses) are also attractive because of their long-term leases that generate durable cash flows in every economic climate.</p>\n<h3><strong>As rents grow, dividends grow</strong></h3>\n<p>Because REITs offer exceptional pricing power, they’re able to raise rents based on inflation, and they’re also well-prepared for high interest rates due to their efficient cost controls and balance sheet management practices.</p>\n"},{"title":"REIT investment considerations","thumb":null,"image":null,"content":"<p>Because of the durable dividend income REITs provide, they can be an important investment both for retirement savers and for retirees who require a continuing income stream to meet their living expenses.</p>\n<p>REIT dividends are driven by the steady stream of contractual rents paid by the tenants of their properties.</p>\n<p>Other important attributes of owning REITs to consider include:</p>\n<ul>\n<li><strong>Liquidity:</strong> REIT shares are traded on major stock exchanges.</li>\n<li><strong>Transparency:</strong> REITs have independent directors, analysts, and auditors that provide oversight.</li>\n<li><strong>Diversification:</strong> REITs offer access to the real estate market with low correlation with other stocks and bonds.</li>\n<li><strong>Performance:</strong> REITs have provided long-term total returns like those of other stocks.</li>\n</ul>\n"},{"title":"Choosing the best REITs","thumb":null,"image":null,"content":"<p>With over 890 listed REITs around the globe, where do you begin? The answer depends on your objective, and of course your own risk tolerance level.</p>\n<p>The great thing about REITs is that you can be a landlord for practically every property category, all unique with their own demand drivers.</p>\n<p>As you get started, here are a few guidelines worth considering:</p>\n<ul>\n<li>\n<p class=\"first-para\"><strong>Own more than one REIT or consider a REIT ETF. </strong>Diversification is important to the investing process, so when you start adding REITs to your portfolio, it’s important to spread your capital across multiple property sectors and geographies. In other words, don’t put all of your eggs in one basket.</p>\n<p class=\"child-para\">Also, there are many different exchange-traded funds (ETFs), closed-end fund, and mutual fund alternatives that may be a good way to become a virtual landlord without having to do all the heavy lifting.</p>\n</li>\n<li><strong>Focus on quality. </strong>REITs come in many shapes and sizes, and it’s important to always look under the hood before buying. Spend time researching the underlying fundamentals to ensure that the dividend is safe and growing (on a frequent basis). High-quality REITs can expect to have good access to capital during most market cycles.</li>\n<li><strong>Bet on the jockey. </strong>Most REITs are internally managed, which means you (the investor) are paying for the salaries of the management team. Always think of yourself as an owner and make sure (as the owner) your interests are aligned with management. Always maintain skepticism and in the words of Ronald Reagan, “trust but verify.”</li>\n<li><strong>Don’t chase yield. </strong>By law, REITs pay out high dividends, but always remember that a double-digit dividend yield suggests limited growth prospects for the REIT. There’s nothing wrong with owning these higher-yielding stocks, but often these double-digit yields suggest a potential dividend cut.</li>\n<li><strong>Buy low. </strong>Don’t overpay. Always make sure you’re getting value and buy REITs just like you would any other investment. Sometimes it takes patience, but over the long haul, your returns are magnified when you buy in at a cheaper price.</li>\n</ul>\n"}],"videoInfo":{"videoId":null,"name":null,"accountId":null,"playerId":null,"thumbnailUrl":null,"description":null,"uploadDate":null}},"sponsorship":{"sponsorshipPage":false,"backgroundImage":{"src":null,"width":0,"height":0},"brandingLine":"","brandingLink":"","brandingLogo":{"src":null,"width":0,"height":0},"sponsorAd":"","sponsorEbookTitle":"","sponsorEbookLink":"","sponsorEbookImage":{"src":null,"width":0,"height":0}},"primaryLearningPath":"Advance","lifeExpectancy":"Five years","lifeExpectancySetFrom":"2024-09-07T00:00:00+00:00","dummiesForKids":"no","sponsoredContent":"no","adInfo":"","adPairKey":[]},"status":"publish","visibility":"public","articleId":300521},{"headers":{"creationTime":"2020-07-31T20:40:47+00:00","modifiedTime":"2024-06-06T15:56:16+00:00","timestamp":"2024-06-06T18:01:03+00:00"},"data":{"breadcrumbs":[{"name":"Business, Careers, & Money","_links":{"self":"//dummies-api.coursofppt.com/v2/categories/34224"},"slug":"business-careers-money","categoryId":34224},{"name":"Personal Finance","_links":{"self":"//dummies-api.coursofppt.com/v2/categories/34273"},"slug":"personal-finance","categoryId":34273},{"name":"Investing","_links":{"self":"//dummies-api.coursofppt.com/v2/categories/34288"},"slug":"investing","categoryId":34288},{"name":"Real Estate","_links":{"self":"//dummies-api.coursofppt.com/v2/categories/34299"},"slug":"real-estate","categoryId":34299}],"title":"How To Learn about International Real Estate","strippedTitle":"how to learn about international real estate","slug":"how-and-where-to-educate-yourself-on-international-real-estate","canonicalUrl":"","快速搜字段擎提高提升":{"metaDescription":"If you're investing in real estate, internationally or at home, you must educate yourself before you make any investment and continue to seek knowledge.","noIndex":0,"noFollow":0},"content":"Knowledge is power, as the saying goes. But knowledge also is a tool — a tool for building wealth and personal freedom. A bit like a spanner or a wrench, only slightly more glamorous.\r\n\r\n[caption id=\"attachment_263178\" align=\"alignnone\" width=\"535\"]<img class=\"size-full wp-image-263178\" src=\"//coursofppt.com/wp-content/uploads/international-real-estate-education.jpg\" alt=\"real estate continuing education\" width=\"535\" height=\"357\" /> ©goshutter/Shutterstock.com[/caption]\r\n<p class=\"article-tips remember\">In most professions, continual education is key to staying on top of your game. The people who progress well and succeed are the ones who are continually evolving. Real estate is no different, and if you want to become (and remain) a successful real estate investor, you need to invest time in your education and improvement.</p>\r\n<p class=\"article-tips tip\">Even as your real estate portfolio becomes more established, never be fooled into thinking you know it all. You’ll be missing out on so many important opportunities to grow and learn. I love learning from those who know more than I do, whether that comes from networking, reading books, or wherever. Even if I only get one useful nugget from a book — a tidbit that changes my mind-set or improves the way I do something — it’s well worth my time.</p>\r\n\r\n<h2 id=\"tab1\" >Tap into a wide variety of educational sources</h2>\r\nWell, real estate is a very accessible industry with little in the way of formal qualifications needed to succeed, so you’ll have to think outside the formal education box when looking at ways to continually learn and grow.\r\n\r\nThankfully, these days it’s easier than ever to access information quickly and easily, often for free or extremely cheap. Your mission is to make like a sponge and soak up all that information. This may include\r\n<ul>\r\n \t<li><strong>Reading as many books as you can get your hands on about your chosen real estate strategy:</strong> If you struggle to find time to read, try listening to audiobooks in the car or while you’re at the gym. If you commute to work every day for 30 minutes each way that’s a potential hour of audiobook training time every day, which equates to 240 hours a year! It soon adds up… .</li>\r\n \t<li><strong>Becoming a general business, entrepreneurship and self-help book junkie, like me:</strong> I love reading both the practical how-to-succeed-in-business types of books and the more mind-set/self-help kinds, and even autobiographies by business leaders and entrepreneurs. I find it particularly inspiring to read about how people became successful and their personal formula for success. You’ll be surprised how many similar traits successful people have — and you can learn these traits and techniques, so keep reading!</li>\r\n \t<li><strong>Staying alert to potential new real estate strategies that are a good fit with your portfolio, skills, and passion.</strong></li>\r\n \t<li><strong>Keeping up to date on the latest technology developments, from social media platforms to productivity apps and software for managing your real estate investments:</strong> You don’t need to be a tech genius to thrive in real estate, but you don’t want to miss out on opportunities to connect with people more easily and streamline your processes.</li>\r\n \t<li><strong>Harnessing the wealth of information available for free online by joining <a href=\"//www.propertyforum.com/\">property forums</a>, delving through relevant thread archives on forums, signing up for relevant industry newsletters, and subscribing to blogs.</strong></li>\r\n \t<li><strong>Attending education seminars held by property investment and development companies:</strong> These seminars often free to attend because the goal of the seminar is usually to sell you a product or investment. So, although I wholeheartedly encourage you to tap into these free sources of education, never buy anything on the day. Always go away and do your homework after the seminar because there are plenty of paid courses not worth the paper they’re printed on.</li>\r\n \t<li><strong>Signing up for online real estate and business courses, such as those available through <a href=\"//www.udemy.com/\">Udemy</a> and <a href=\"//www.coursera.org/\">Coursera</a>.</strong></li>\r\n \t<li><strong>Attending big annual property shows and exhibitions:</strong> These shows provide fantastic educational and networking opportunities and are a great way to immerse yourself in the market and to learn what others are doing.</li>\r\n \t<li><strong>Being open to new mind-set-related, self-help techniques and approaches (for example, positive affirmations, visualization, the law of attraction, and meditation).</strong></li>\r\n \t<li><strong>Taking the time to build mind-set-related, self-help techniques into your daily routine:</strong></li>\r\n</ul>\r\n<p class=\"article-tips warning\">As in any industry, there are operators out there looking to make a quick buck from inexperienced real estate investors who are keen to learn. So, don’t automatically believe everything you’re told by someone in a seminar where the end goal is to sell you something. Soak up their information; then assess that information against other sources as well. If multiple different sources are telling you that Morocco is a great place to invest, that’s very different from one guy pushing Moroccan investments at a seminar.</p>\r\n\r\n<h2 id=\"tab2\" >Take time for education before you put your real estate investment money on the line</h2>\r\nAlthough continual education is an important part of success, take the time to immerse yourself in real estate and learn as much as you can <em>before</em> you embark on your first investment. Learning as you go is great, but mistakes in your early days can be costly.\r\n<p class=\"article-tips tip\">Immerse yourself in property education for at least six months before you put your money on the line with an investment. Why not set yourself some education targets to hit before you start seriously scouting for investment opportunities? For example, you can set yourself a target of reading one inspirational book a month, attending six property shows this year, and participating in property forums once or twice a week.</p>","description":"Knowledge is power, as the saying goes. But knowledge also is a tool — a tool for building wealth and personal freedom. A bit like a spanner or a wrench, only slightly more glamorous.\r\n\r\n[caption id=\"attachment_263178\" align=\"alignnone\" width=\"535\"]<img class=\"size-full wp-image-263178\" src=\"//coursofppt.com/wp-content/uploads/international-real-estate-education.jpg\" alt=\"real estate continuing education\" width=\"535\" height=\"357\" /> ©goshutter/Shutterstock.com[/caption]\r\n<p class=\"article-tips remember\">In most professions, continual education is key to staying on top of your game. The people who progress well and succeed are the ones who are continually evolving. Real estate is no different, and if you want to become (and remain) a successful real estate investor, you need to invest time in your education and improvement.</p>\r\n<p class=\"article-tips tip\">Even as your real estate portfolio becomes more established, never be fooled into thinking you know it all. You’ll be missing out on so many important opportunities to grow and learn. I love learning from those who know more than I do, whether that comes from networking, reading books, or wherever. Even if I only get one useful nugget from a book — a tidbit that changes my mind-set or improves the way I do something — it’s well worth my time.</p>\r\n\r\n<h2 id=\"tab1\" >Tap into a wide variety of educational sources</h2>\r\nWell, real estate is a very accessible industry with little in the way of formal qualifications needed to succeed, so you’ll have to think outside the formal education box when looking at ways to continually learn and grow.\r\n\r\nThankfully, these days it’s easier than ever to access information quickly and easily, often for free or extremely cheap. Your mission is to make like a sponge and soak up all that information. This may include\r\n<ul>\r\n \t<li><strong>Reading as many books as you can get your hands on about your chosen real estate strategy:</strong> If you struggle to find time to read, try listening to audiobooks in the car or while you’re at the gym. If you commute to work every day for 30 minutes each way that’s a potential hour of audiobook training time every day, which equates to 240 hours a year! It soon adds up… .</li>\r\n \t<li><strong>Becoming a general business, entrepreneurship and self-help book junkie, like me:</strong> I love reading both the practical how-to-succeed-in-business types of books and the more mind-set/self-help kinds, and even autobiographies by business leaders and entrepreneurs. I find it particularly inspiring to read about how people became successful and their personal formula for success. You’ll be surprised how many similar traits successful people have — and you can learn these traits and techniques, so keep reading!</li>\r\n \t<li><strong>Staying alert to potential new real estate strategies that are a good fit with your portfolio, skills, and passion.</strong></li>\r\n \t<li><strong>Keeping up to date on the latest technology developments, from social media platforms to productivity apps and software for managing your real estate investments:</strong> You don’t need to be a tech genius to thrive in real estate, but you don’t want to miss out on opportunities to connect with people more easily and streamline your processes.</li>\r\n \t<li><strong>Harnessing the wealth of information available for free online by joining <a href=\"//www.propertyforum.com/\">property forums</a>, delving through relevant thread archives on forums, signing up for relevant industry newsletters, and subscribing to blogs.</strong></li>\r\n \t<li><strong>Attending education seminars held by property investment and development companies:</strong> These seminars often free to attend because the goal of the seminar is usually to sell you a product or investment. So, although I wholeheartedly encourage you to tap into these free sources of education, never buy anything on the day. Always go away and do your homework after the seminar because there are plenty of paid courses not worth the paper they’re printed on.</li>\r\n \t<li><strong>Signing up for online real estate and business courses, such as those available through <a href=\"//www.udemy.com/\">Udemy</a> and <a href=\"//www.coursera.org/\">Coursera</a>.</strong></li>\r\n \t<li><strong>Attending big annual property shows and exhibitions:</strong> These shows provide fantastic educational and networking opportunities and are a great way to immerse yourself in the market and to learn what others are doing.</li>\r\n \t<li><strong>Being open to new mind-set-related, self-help techniques and approaches (for example, positive affirmations, visualization, the law of attraction, and meditation).</strong></li>\r\n \t<li><strong>Taking the time to build mind-set-related, self-help techniques into your daily routine:</strong></li>\r\n</ul>\r\n<p class=\"article-tips warning\">As in any industry, there are operators out there looking to make a quick buck from inexperienced real estate investors who are keen to learn. So, don’t automatically believe everything you’re told by someone in a seminar where the end goal is to sell you something. Soak up their information; then assess that information against other sources as well. If multiple different sources are telling you that Morocco is a great place to invest, that’s very different from one guy pushing Moroccan investments at a seminar.</p>\r\n\r\n<h2 id=\"tab2\" >Take time for education before you put your real estate investment money on the line</h2>\r\nAlthough continual education is an important part of success, take the time to immerse yourself in real estate and learn as much as you can <em>before</em> you embark on your first investment. Learning as you go is great, but mistakes in your early days can be costly.\r\n<p class=\"article-tips tip\">Immerse yourself in property education for at least six months before you put your money on the line with an investment. Why not set yourself some education targets to hit before you start seriously scouting for investment opportunities? For example, you can set yourself a target of reading one inspirational book a month, attending six property shows this year, and participating in property forums once or twice a week.</p>","blurb":"","authors":[{"authorId":21941,"name":"Nicholas Wallwork","slug":"nicholas-wallwork","description":" <p><b>Nicholas Wallwork</b> is a leading international real estate market commentator, entrepreneur, business leader, investor, developer, and author. In addition to heading several real estate and investment companies, he wrote <i>Investing in International Real Estate For Dummies</i> and has produced and presented real estate TV shows on the UK&#39;s Sky TV.</br> www.nicholaswallwork.com ","hasArticle":false,"_links":{"self":"//dummies-api.coursofppt.com/v2/authors/21941"}}],"primaryCategoryTaxonomy":{"categoryId":34299,"title":"Real Estate","slug":"real-estate","_links":{"self":"//dummies-api.coursofppt.com/v2/categories/34299"}},"secondaryCategoryTaxonomy":{"categoryId":0,"title":null,"slug":null,"_links":null},"tertiaryCategoryTaxonomy":{"categoryId":0,"title":null,"slug":null,"_links":null},"trendingArticles":null,"inThisArticle":[{"label":"Tap into a wide variety of educational sources","target":"#tab1"},{"label":"Take time for education before you put your real estate investment money on the line","target":"#tab2"}],"relatedArticles":{"fromBook":[{"articleId":263187,"title":"3 Main Real Estate Valuation Methods","slug":"3-main-real-estate-valuation-methods","categoryList":["business-careers-money","personal-finance","investing","real-estate"],"_links":{"self":"//dummies-api.coursofppt.com/v2/articles/263187"}},{"articleId":263182,"title":"What Is Real Estate Value and Valuation","slug":"what-is-real-estate-value-and-valuation","categoryList":["business-careers-money","personal-finance","investing","real-estate"],"_links":{"self":"//dummies-api.coursofppt.com/v2/articles/263182"}},{"articleId":263174,"title":"Real Estate Investment Strategies for a Credit Crunch","slug":"real-estate-investment-strategies-for-a-credit-crunch","categoryList":["business-careers-money","personal-finance","investing","real-estate"],"_links":{"self":"//dummies-api.coursofppt.com/v2/articles/263174"}},{"articleId":263171,"title":"Real Estate Investment Strategies for a Boom Market","slug":"real-estate-investment-strategies-for-a-boom-market","categoryList":["business-careers-money","personal-finance","investing","real-estate"],"_links":{"self":"//dummies-api.coursofppt.com/v2/articles/263171"}},{"articleId":263160,"title":"The Role of Finance in International Real Estate Investments","slug":"the-role-of-finance-in-international-real-estate-investments","categoryList":["business-careers-money","personal-finance","investing","real-estate"],"_links":{"self":"//dummies-api.coursofppt.com/v2/articles/263160"}}],"fromCategory":[{"articleId":296220,"title":"Real Estate Investing All-in-One For Dummies Cheat Sheet","slug":"real-estate-investing-all-in-one-for-dummies-cheat-sheet","categoryList":["business-careers-money","personal-finance","investing","real-estate"],"_links":{"self":"//dummies-api.coursofppt.com/v2/articles/296220"}},{"articleId":291208,"title":"Foreclosure Investing For Dummies Cheat Sheet","slug":"foreclosure-investing-for-dummies-cheat-sheet","categoryList":["business-careers-money","personal-finance","investing","real-estate"],"_links":{"self":"//dummies-api.coursofppt.com/v2/articles/291208"}},{"articleId":274970,"title":"How Home Ownership Can Help You Achieve Financial Goals","slug":"how-home-ownership-can-help-you-achieve-financial-goals","categoryList":["business-careers-money","personal-finance","investing","real-estate"],"_links":{"self":"//dummies-api.coursofppt.com/v2/articles/274970"}},{"articleId":274965,"title":"Simple, Profitable Real Estate Investments","slug":"simple-profitable-real-estate-investments","categoryList":["business-careers-money","personal-finance","investing","real-estate"],"_links":{"self":"//dummies-api.coursofppt.com/v2/articles/274965"}},{"articleId":266690,"title":"Public and Private Real Estate Investment Trusts","slug":"public-and-private-real-estate-investment-trusts","categoryList":["business-careers-money","personal-finance","investing","real-estate"],"_links":{"self":"//dummies-api.coursofppt.com/v2/articles/266690"}}]},"hasRelatedBookFromSearch":false,"relatedBook":{"bookId":282313,"slug":"investing-in-international-real-estate-for-dummies","isbn":"9781119527527","categoryList":["business-careers-money","personal-finance","investing","real-estate"],"amazon":{"default":"//www.amazon.com/gp/product/111952752X/ref=as_li_tl?ie=UTF8&tag=wiley01-20","ca":"//www.amazon.ca/gp/product/111952752X/ref=as_li_tl?ie=UTF8&tag=wiley01-20","indigo_ca":"//www.tkqlhce.com/click-9208661-13710633?url=//www.chapters.indigo.ca/en-ca/books/product/111952752X-item.html&cjsku=978111945484","gb":"//www.amazon.co.uk/gp/product/111952752X/ref=as_li_tl?ie=UTF8&tag=wiley01-20","de":"//www.amazon.de/gp/product/111952752X/ref=as_li_tl?ie=UTF8&tag=wiley01-20"},"image":{"src":"//coursofppt.com/wp-content/uploads/investing-in-international-real-estate-for-dummies-cover-9781119527527-203x255.jpg","width":203,"height":255},"title":"Investing in International Real Estate For Dummies","testBankPinActivationLink":"","bookOutOfPrint":false,"authorsInfo":"<p><b data-author-id=\"21941\">Nicholas Wallwork</b> is a successful entrepreneur, multimillionaire real estate investor, developer, and property and business mentor. He is known across all media channels as a highly respected authority in the real estate investment world and has an extensive and proven track record for delivering successful, high-return investments for his clients and students. Wallwork is dedicated to helping educate investors. Visit www.propertyforum.com/ real-estate-courses for upcoming companion courses to this book. </p>","authors":[{"authorId":21941,"name":"Nicholas Wallwork","slug":"nicholas-wallwork","description":" <p><b>Nicholas Wallwork</b> is a leading international real estate market commentator, entrepreneur, business leader, investor, developer, and author. In addition to heading several real estate and investment companies, he wrote <i>Investing in International Real Estate For Dummies</i> and has produced and presented real estate TV shows on the UK&#39;s Sky TV.</br> www.nicholaswallwork.com ","hasArticle":false,"_links":{"self":"//dummies-api.coursofppt.com/v2/authors/21941"}}],"_links":{"self":"//dummies-api.coursofppt.com/v2/books/"}},"collections":[],"articleAds":{"footerAd":"<div class=\"du-ad-region row\" id=\"article_page_adhesion_ad\"><div class=\"du-ad-unit col-md-12\" data-slot-id=\"article_page_adhesion_ad\" data-refreshed=\"false\" \r\n data-target = \"[{&quot;key&quot;:&quot;cat&quot;,&quot;values&quot;:[&quot;business-careers-money&quot;,&quot;personal-finance&quot;,&quot;investing&quot;,&quot;real-estate&quot;]},{&quot;key&quot;:&quot;isbn&quot;,&quot;values&quot;:[&quot;9781119527527&quot;]}]\" id=\"du-slot-647f745fec0fb\"></div></div>","rightAd":"<div class=\"du-ad-region row\" id=\"article_page_right_ad\"><div class=\"du-ad-unit col-md-12\" data-slot-id=\"article_page_right_ad\" data-refreshed=\"false\" \r\n data-target = \"[{&quot;key&quot;:&quot;cat&quot;,&quot;values&quot;:[&quot;business-careers-money&quot;,&quot;personal-finance&quot;,&quot;investing&quot;,&quot;real-estate&quot;]},{&quot;key&quot;:&quot;isbn&quot;,&quot;values&quot;:[&quot;9781119527527&quot;]}]\" id=\"du-slot-647f745fecadf\"></div></div>"},"articleType":{"articleType":"Articles","articleList":null,"content":null,"videoInfo":{"videoId":null,"name":null,"accountId":null,"playerId":null,"thumbnailUrl":null,"description":null,"uploadDate":null}},"sponsorship":{"sponsorshipPage":false,"backgroundImage":{"src":null,"width":0,"height":0},"brandingLine":"","brandingLink":"","brandingLogo":{"src":null,"width":0,"height":0},"sponsorAd":"","sponsorEbookTitle":"","sponsorEbookLink":"","sponsorEbookImage":{"src":null,"width":0,"height":0}},"primaryLearningPath":"Advance","lifeExpectancy":"Five years","lifeExpectancySetFrom":"2024-06-06T00:00:00+00:00","dummiesForKids":"no","sponsoredContent":"no","adInfo":"","adPairKey":[]},"status":"publish","visibility":"public","articleId":263177},{"headers":{"creationTime":"2020-12-14T00:36:28+00:00","modifiedTime":"2024-06-06T15:31:16+00:00","timestamp":"2024-06-06T18:01:02+00:00"},"data":{"breadcrumbs":[{"name":"Business, Careers, & Money","_links":{"self":"//dummies-api.coursofppt.com/v2/categories/34224"},"slug":"business-careers-money","categoryId":34224},{"name":"Personal Finance","_links":{"self":"//dummies-api.coursofppt.com/v2/categories/34273"},"slug":"personal-finance","categoryId":34273},{"name":"Investing","_links":{"self":"//dummies-api.coursofppt.com/v2/categories/34288"},"slug":"investing","categoryId":34288},{"name":"Real Estate","_links":{"self":"//dummies-api.coursofppt.com/v2/categories/34299"},"slug":"real-estate","categoryId":34299}],"title":"How to Vet Property Inspectors for Real Estate Investments","strippedTitle":"how to vet property inspectors for real estate investments","slug":"how-to-qualify-property-inspectors-for-real-estate-investments","canonicalUrl":"","快速搜字段擎提高提升":{"metaDescription":"Learn how to inspect and qualify property inspectors before you hire one to look over your real estate investments—from coursofppt.com.","noIndex":0,"noFollow":0},"content":"Many real estate investors pick inspectors as an afterthought or simply take the recommendation of their real estate agent. But inspect the property inspectors before you hire one. As with other service professionals, <a href=\"//coursofppt.com/personal-finance/real-estate/select-property-inspector/\" target=\"_blank\" rel=\"noopener\">interview a few inspectors</a> before making your selection. You may find that they don’t all share the same experience, qualifications, and ethical standards. For example, don’t hire an inspector who hesitates or refuses to allow you to be present during the inspection or won’t review the findings with you upon completion of the inspection.\r\n<p class=\"article-tips tip\">The inspection is actually a unique opportunity for most property owners and, because you’re paying, we strongly recommend that you join the inspector while he’s assessing your proposed purchase. What you learn can be invaluable and may pay dividends throughout your entire ownership. When an unscrupulous contractor later tries to tell you that you need to completely replumb your property, you can recall that your property inspection revealed only isolated problems that can be resolved inexpensively. (Of course, inspectors, especially ones who aren’t good, can make mistakes, so you should also dig into discrepancies raised by different real estate–related people. In other words, get a second opinion.)</p>\r\n<p class=\"article-tips warning\">About half of the states now have a license or certification requirement, whereas a few only have trade practice guidelines. This regulation is all relatively new because in 2000 virtually no governmental licensing or supervision of inspectors existed. Regardless of whether your state has strict licensing or certification requirements, every real estate investor needs to look out for her own interests and look for telltale signs of potential problems. Red flags include inspectors who are affiliated with a contractor, offer a special discount if you call who they recommend, or credit their inspection fee toward work.</p>\r\nOnly consider full-time, professional inspectors. Hire an inspector who performs at least 100 comprehensive inspections per year and carries errors and omissions insurance. Such coverage isn’t cheap and is another key indicator that the person is working full-time in the field and is participating in ongoing continuing education.\r\n<p class=\"article-tips tip\">Many inspectors are licensed general contractors, but not all home inspectors have designations or credentials specifically relating to inspecting real estate. One of the best certifying trade associations for professional property inspectors is the American Society of Home Inspectors (ASHI), which was founded in 1976. In addition to home inspections, many ASHI members are qualified and experienced enough to assist you with your due diligence physical or structural exterior and interior inspection of multifamily residential properties and all types of commercial properties. You can find certified inspectors and more info about the inspection process including tips and checklists at <a href=\"//www.homeinspector.org/\" target=\"_blank\" rel=\"noopener\">the ASHI website</a>.</p>\r\n<p class=\"article-tips warning\">Some individuals or companies adopt names that at first glance may indicate adherence to certain professional practices. For example, a fictitious but potentially misleading name is “Professional Property Inspection Association.” Do some research to find the best state or regional association and one whose qualified members adopt a code of ethics. For example, in California, the <a href=\"//www.creia.org/\" target=\"_blank\" rel=\"noopener\">California Real Estate Inspection Association</a> is the group that offers education and designations for real estate inspectors.</p>\r\nReview a copy of inspectors’ résumés to see what certifications and licenses they hold. A general contractor’s license and certification as a property inspector are important, but also find out whether they’ve had any specialized training and whether they hold any specific sublicenses in areas such as roofing, electrical, or plumbing. These can be particularly important if your proposed property has evidence of potential problems in any of these areas. For example, if a property has a history of roofing or moisture intrusion problems, an inspector who’s a general contractor and roofer is an extra plus.\r\n\r\nThe inspection report must be written. To avoid surprises, request a sample of one of the recent inspection reports that has been prepared for a comparable property. This simple request may eliminate several potential inspectors but is essential so that you can see whether an inspector is qualified and how detailed a report he will prepare for you. Check out the following figures for a sample interior inspection checklist.\r\n\r\n[caption id=\"attachment_266685\" align=\"alignnone\" width=\"556\"]<img class=\"size-full wp-image-266685\" src=\"//coursofppt.com/wp-content/uploads/real-estate-investing-interior-unit-inspection1.jpg\" alt=\"Interior unit inspection checklist, page 1\" width=\"556\" height=\"806\" /> Robert S. Griswold<br /><br />Sample interior unit inspection checklist Robert uses for large multifamily apartment communities (page 1 of 2).[/caption]\r\n\r\n \r\n\r\n<img class=\"size-full wp-image-266684\" src=\"//coursofppt.com/wp-content/uploads/real-estate-investing-interior-unit-inspection2.jpg\" alt=\"Interior unit inspection checklist, page 2\" width=\"556\" height=\"823\" />\r\n\r\nSource: Robert S. Griswold\r\n\r\nSample interior unit inspection checklist (page 2 of 2).\r\n<p class=\"article-tips tip\">The advent of digital photography is a boon to property inspectors and makes their sometimes mundane and difficult-to-understand reports come to life. Select a technologically savvy inspector and require her to electronically send you her report, including digital photos documenting all the conditions noted. Recently, some inspectors have begun using advanced, non-invasive technology via an infrared or thermal imaging camera to produce images of heat radiation and identify energy efficiency concerns and electrical issues, as well as moisture intrusion scans inside walls or around plumbing fixtures. With the report in the electronic realm, it’s a simple process to email this information as needed.</p>\r\nAlthough the cost of the inspection should be set and determined in advance, the price should be a secondary concern because inspection fees often pay for themselves. Just like many other professional services, there is a direct correlation between the pricing of your inspection and the amount of time the inspector takes to conduct the inspection and then prepare the report. If the inspector only spends a couple of hours at your new 20-unit apartment building, the report will surely be insufficient and your money not well spent.\r\n\r\nFinally, require the finalists to provide the names and phone numbers of at least ten people who used the company’s services within the past six months. Randomly call and make sure that these clients were satisfied and that the inspector acted professionally and ethically.","description":"Many real estate investors pick inspectors as an afterthought or simply take the recommendation of their real estate agent. But inspect the property inspectors before you hire one. As with other service professionals, <a href=\"//coursofppt.com/personal-finance/real-estate/select-property-inspector/\" target=\"_blank\" rel=\"noopener\">interview a few inspectors</a> before making your selection. You may find that they don’t all share the same experience, qualifications, and ethical standards. For example, don’t hire an inspector who hesitates or refuses to allow you to be present during the inspection or won’t review the findings with you upon completion of the inspection.\r\n<p class=\"article-tips tip\">The inspection is actually a unique opportunity for most property owners and, because you’re paying, we strongly recommend that you join the inspector while he’s assessing your proposed purchase. What you learn can be invaluable and may pay dividends throughout your entire ownership. When an unscrupulous contractor later tries to tell you that you need to completely replumb your property, you can recall that your property inspection revealed only isolated problems that can be resolved inexpensively. (Of course, inspectors, especially ones who aren’t good, can make mistakes, so you should also dig into discrepancies raised by different real estate–related people. In other words, get a second opinion.)</p>\r\n<p class=\"article-tips warning\">About half of the states now have a license or certification requirement, whereas a few only have trade practice guidelines. This regulation is all relatively new because in 2000 virtually no governmental licensing or supervision of inspectors existed. Regardless of whether your state has strict licensing or certification requirements, every real estate investor needs to look out for her own interests and look for telltale signs of potential problems. Red flags include inspectors who are affiliated with a contractor, offer a special discount if you call who they recommend, or credit their inspection fee toward work.</p>\r\nOnly consider full-time, professional inspectors. Hire an inspector who performs at least 100 comprehensive inspections per year and carries errors and omissions insurance. Such coverage isn’t cheap and is another key indicator that the person is working full-time in the field and is participating in ongoing continuing education.\r\n<p class=\"article-tips tip\">Many inspectors are licensed general contractors, but not all home inspectors have designations or credentials specifically relating to inspecting real estate. One of the best certifying trade associations for professional property inspectors is the American Society of Home Inspectors (ASHI), which was founded in 1976. In addition to home inspections, many ASHI members are qualified and experienced enough to assist you with your due diligence physical or structural exterior and interior inspection of multifamily residential properties and all types of commercial properties. You can find certified inspectors and more info about the inspection process including tips and checklists at <a href=\"//www.homeinspector.org/\" target=\"_blank\" rel=\"noopener\">the ASHI website</a>.</p>\r\n<p class=\"article-tips warning\">Some individuals or companies adopt names that at first glance may indicate adherence to certain professional practices. For example, a fictitious but potentially misleading name is “Professional Property Inspection Association.” Do some research to find the best state or regional association and one whose qualified members adopt a code of ethics. For example, in California, the <a href=\"//www.creia.org/\" target=\"_blank\" rel=\"noopener\">California Real Estate Inspection Association</a> is the group that offers education and designations for real estate inspectors.</p>\r\nReview a copy of inspectors’ résumés to see what certifications and licenses they hold. A general contractor’s license and certification as a property inspector are important, but also find out whether they’ve had any specialized training and whether they hold any specific sublicenses in areas such as roofing, electrical, or plumbing. These can be particularly important if your proposed property has evidence of potential problems in any of these areas. For example, if a property has a history of roofing or moisture intrusion problems, an inspector who’s a general contractor and roofer is an extra plus.\r\n\r\nThe inspection report must be written. To avoid surprises, request a sample of one of the recent inspection reports that has been prepared for a comparable property. This simple request may eliminate several potential inspectors but is essential so that you can see whether an inspector is qualified and how detailed a report he will prepare for you. Check out the following figures for a sample interior inspection checklist.\r\n\r\n[caption id=\"attachment_266685\" align=\"alignnone\" width=\"556\"]<img class=\"size-full wp-image-266685\" src=\"//coursofppt.com/wp-content/uploads/real-estate-investing-interior-unit-inspection1.jpg\" alt=\"Interior unit inspection checklist, page 1\" width=\"556\" height=\"806\" /> Robert S. Griswold<br /><br />Sample interior unit inspection checklist Robert uses for large multifamily apartment communities (page 1 of 2).[/caption]\r\n\r\n \r\n\r\n<img class=\"size-full wp-image-266684\" src=\"//coursofppt.com/wp-content/uploads/real-estate-investing-interior-unit-inspection2.jpg\" alt=\"Interior unit inspection checklist, page 2\" width=\"556\" height=\"823\" />\r\n\r\nSource: Robert S. Griswold\r\n\r\nSample interior unit inspection checklist (page 2 of 2).\r\n<p class=\"article-tips tip\">The advent of digital photography is a boon to property inspectors and makes their sometimes mundane and difficult-to-understand reports come to life. Select a technologically savvy inspector and require her to electronically send you her report, including digital photos documenting all the conditions noted. Recently, some inspectors have begun using advanced, non-invasive technology via an infrared or thermal imaging camera to produce images of heat radiation and identify energy efficiency concerns and electrical issues, as well as moisture intrusion scans inside walls or around plumbing fixtures. With the report in the electronic realm, it’s a simple process to email this information as needed.</p>\r\nAlthough the cost of the inspection should be set and determined in advance, the price should be a secondary concern because inspection fees often pay for themselves. Just like many other professional services, there is a direct correlation between the pricing of your inspection and the amount of time the inspector takes to conduct the inspection and then prepare the report. If the inspector only spends a couple of hours at your new 20-unit apartment building, the report will surely be insufficient and your money not well spent.\r\n\r\nFinally, require the finalists to provide the names and phone numbers of at least ten people who used the company’s services within the past six months. Randomly call and make sure that these clients were satisfied and that the inspector acted professionally and ethically.","blurb":"","authors":[{"authorId":33252,"name":"Robert Tyson","slug":"robert-tyson","description":"","hasArticle":false,"_links":{"self":"//dummies-api.coursofppt.com/v2/authors/33252"}},{"authorId":8975,"name":"Eric Tyson","slug":"eric-tyson","description":" <p><b>Eric Tyson, MBA,</b> has been a personal finance writer, lecturer, and counselor for the past 25+ years. He is the author or coauthor of numerous For Dummies bestsellers on personal finance, investing, and home buying.</p> <p><b>Bob Nelson, PhD,</b> is considered one of the world&#8217;s leading experts on employee engagement, recognition, and rewards. He is president of Nelson Motivation, Inc., a management training and consulting company that helps organizations improve their administration practices, programs, and systems. ","hasArticle":false,"_links":{"self":"//dummies-api.coursofppt.com/v2/authors/8975"}}],"primaryCategoryTaxonomy":{"categoryId":34299,"title":"Real Estate","slug":"real-estate","_links":{"self":"//dummies-api.coursofppt.com/v2/categories/34299"}},"secondaryCategoryTaxonomy":{"categoryId":0,"title":null,"slug":null,"_links":null},"tertiaryCategoryTaxonomy":{"categoryId":0,"title":null,"slug":null,"_links":null},"trendingArticles":null,"inThisArticle":[],"relatedArticles":{"fromBook":[{"articleId":266690,"title":"Public and Private Real Estate Investment Trusts","slug":"public-and-private-real-estate-investment-trusts","categoryList":["business-careers-money","personal-finance","investing","real-estate"],"_links":{"self":"//dummies-api.coursofppt.com/v2/articles/266690"}},{"articleId":266678,"title":"10 Steps to Real Estate Investing Success","slug":"10-steps-to-real-estate-investing-success","categoryList":["business-careers-money","personal-finance","investing","real-estate"],"_links":{"self":"//dummies-api.coursofppt.com/v2/articles/266678"}},{"articleId":266673,"title":"10 Ways to Increase a Property’s Value","slug":"10-ways-to-increase-a-propertys-value","categoryList":["business-careers-money","personal-finance","investing","real-estate"],"_links":{"self":"//dummies-api.coursofppt.com/v2/articles/266673"}},{"articleId":266668,"title":"Risk Management Plan for Real Estate Investments","slug":"risk-management-plan-for-real-estate-investments","categoryList":["business-careers-money","personal-finance","investing","real-estate"],"_links":{"self":"//dummies-api.coursofppt.com/v2/articles/266668"}},{"articleId":207572,"title":"Real Estate Investing For Dummies Cheat Sheet","slug":"real-estate-investing-for-dummies-cheat-sheet","categoryList":["business-careers-money","personal-finance","investing","real-estate"],"_links":{"self":"//dummies-api.coursofppt.com/v2/articles/207572"}}],"fromCategory":[{"articleId":296220,"title":"Real Estate Investing All-in-One For Dummies Cheat Sheet","slug":"real-estate-investing-all-in-one-for-dummies-cheat-sheet","categoryList":["business-careers-money","personal-finance","investing","real-estate"],"_links":{"self":"//dummies-api.coursofppt.com/v2/articles/296220"}},{"articleId":291208,"title":"Foreclosure Investing For Dummies Cheat Sheet","slug":"foreclosure-investing-for-dummies-cheat-sheet","categoryList":["business-careers-money","personal-finance","investing","real-estate"],"_links":{"self":"//dummies-api.coursofppt.com/v2/articles/291208"}},{"articleId":274970,"title":"How Home Ownership Can Help You Achieve Financial Goals","slug":"how-home-ownership-can-help-you-achieve-financial-goals","categoryList":["business-careers-money","personal-finance","investing","real-estate"],"_links":{"self":"//dummies-api.coursofppt.com/v2/articles/274970"}},{"articleId":274965,"title":"Simple, Profitable Real Estate Investments","slug":"simple-profitable-real-estate-investments","categoryList":["business-careers-money","personal-finance","investing","real-estate"],"_links":{"self":"//dummies-api.coursofppt.com/v2/articles/274965"}},{"articleId":266690,"title":"Public and Private Real Estate Investment Trusts","slug":"public-and-private-real-estate-investment-trusts","categoryList":["business-careers-money","personal-finance","investing","real-estate"],"_links":{"self":"//dummies-api.coursofppt.com/v2/articles/266690"}}]},"hasRelatedBookFromSearch":false,"relatedBook":{"bookId":282530,"slug":"real-estate-investing-for-dummies-4th-edition","isbn":"9781119601760","categoryList":["business-careers-money","personal-finance","investing","real-estate"],"amazon":{"default":"//www.amazon.com/gp/product/1119601762/ref=as_li_tl?ie=UTF8&tag=wiley01-20","ca":"//www.amazon.ca/gp/product/1119601762/ref=as_li_tl?ie=UTF8&tag=wiley01-20","indigo_ca":"//www.tkqlhce.com/click-9208661-13710633?url=//www.chapters.indigo.ca/en-ca/books/product/1119601762-item.html&cjsku=978111945484","gb":"//www.amazon.co.uk/gp/product/1119601762/ref=as_li_tl?ie=UTF8&tag=wiley01-20","de":"//www.amazon.de/gp/product/1119601762/ref=as_li_tl?ie=UTF8&tag=wiley01-20"},"image":{"src":"//coursofppt.com/wp-content/uploads/real-estate-investing-for-dummies-4th-edition-cover-9781119601760-203x255.jpg","width":203,"height":255},"title":"Real Estate Investing For Dummies","testBankPinActivationLink":"","bookOutOfPrint":true,"authorsInfo":"<p><p><b><b data-author-id=\"8975\">Eric Tyson</b>, MBA,</b> has been a personal finance writer, lecturer, and counselor for the past 25+ years. He is the author or coauthor of numerous For Dummies bestsellers on personal finance, investing, and home buying.</p> <p><b>Bob Nelson, PhD,</b> is considered one of the world&#8217;s leading experts on employee engagement, recognition, and rewards. He is president of Nelson Motivation, Inc., a management training and consulting company that helps organizations improve their administration practices, programs, and systems. <p><b>Eric Tyson</b> is a five&#45;time bestselling author, real estate investor, and syndicated columnist who gives people the tools to better manage their personal finances and investments. <b><b data-author-id=\"9293\">Robert S. Griswold</b>,</b> author, teacher, and a successful real estate investor, is an active, hands&#45;on property manager with a large portfolio of residential and commercial rental properties.</p>","authors":[{"authorId":8975,"name":"Eric Tyson","slug":"eric-tyson","description":" <p><b>Eric Tyson, MBA,</b> has been a personal finance writer, lecturer, and counselor for the past 25+ years. He is the author or coauthor of numerous For Dummies bestsellers on personal finance, investing, and home buying.</p> <p><b>Bob Nelson, PhD,</b> is considered one of the world&#8217;s leading experts on employee engagement, recognition, and rewards. He is president of Nelson Motivation, Inc., a management training and consulting company that helps organizations improve their administration practices, programs, and systems. ","hasArticle":false,"_links":{"self":"//dummies-api.coursofppt.com/v2/authors/8975"}},{"authorId":9293,"name":"Robert S. Griswold","slug":"robert-s-griswold","description":" <p><b>Eric Tyson</b> is a five&#45;time bestselling author, real estate investor, and syndicated columnist who gives people the tools to better manage their personal finances and investments. <b>Robert S. Griswold,</b> author, teacher, and a successful real estate investor, is an active, hands&#45;on property manager with a large portfolio of residential and commercial rental properties. ","hasArticle":false,"_links":{"self":"//dummies-api.coursofppt.com/v2/authors/9293"}}],"_links":{"self":"//dummies-api.coursofppt.com/v2/books/"}},"collections":[],"articleAds":{"footerAd":"<div class=\"du-ad-region row\" id=\"article_page_adhesion_ad\"><div class=\"du-ad-unit col-md-12\" data-slot-id=\"article_page_adhesion_ad\" data-refreshed=\"false\" \r\n data-target = \"[{&quot;key&quot;:&quot;cat&quot;,&quot;values&quot;:[&quot;business-careers-money&quot;,&quot;personal-finance&quot;,&quot;investing&quot;,&quot;real-estate&quot;]},{&quot;key&quot;:&quot;isbn&quot;,&quot;values&quot;:[&quot;9781119601760&quot;]}]\" id=\"du-slot-647f745f07348\"></div></div>","rightAd":"<div class=\"du-ad-region row\" id=\"article_page_right_ad\"><div class=\"du-ad-unit col-md-12\" data-slot-id=\"article_page_right_ad\" data-refreshed=\"false\" \r\n data-target = \"[{&quot;key&quot;:&quot;cat&quot;,&quot;values&quot;:[&quot;business-careers-money&quot;,&quot;personal-finance&quot;,&quot;investing&quot;,&quot;real-estate&quot;]},{&quot;key&quot;:&quot;isbn&quot;,&quot;values&quot;:[&quot;9781119601760&quot;]}]\" id=\"du-slot-647f745f07baa\"></div></div>"},"articleType":{"articleType":"Articles","articleList":null,"content":null,"videoInfo":{"videoId":null,"name":null,"accountId":null,"playerId":null,"thumbnailUrl":null,"description":null,"uploadDate":null}},"sponsorship":{"sponsorshipPage":false,"backgroundImage":{"src":null,"width":0,"height":0},"brandingLine":"","brandingLink":"","brandingLogo":{"src":null,"width":0,"height":0},"sponsorAd":"","sponsorEbookTitle":"","sponsorEbookLink":"","sponsorEbookImage":{"src":null,"width":0,"height":0}},"primaryLearningPath":"Explore","lifeExpectancy":"Two years","lifeExpectancySetFrom":"2023-07-19T00:00:00+00:00","dummiesForKids":"no","sponsoredContent":"no","adInfo":"","adPairKey":[]},"status":"publish","visibility":"public","articleId":266683},{"headers":{"creationTime":"2021-12-17T03:36:00+00:00","modifiedTime":"2024-03-22T16:01:32+00:00","timestamp":"2024-03-22T18:01:02+00:00"},"data":{"breadcrumbs":[{"name":"Business, Careers, & Money","_links":{"self":"//dummies-api.coursofppt.com/v2/categories/34224"},"slug":"business-careers-money","categoryId":34224},{"name":"Personal Finance","_links":{"self":"//dummies-api.coursofppt.com/v2/categories/34273"},"slug":"personal-finance","categoryId":34273},{"name":"Investing","_links":{"self":"//dummies-api.coursofppt.com/v2/categories/34288"},"slug":"investing","categoryId":34288},{"name":"Real Estate","_links":{"self":"//dummies-api.coursofppt.com/v2/categories/34299"},"slug":"real-estate","categoryId":34299}],"title":"Simple, Profitable Real Estate Investments","strippedTitle":"simple, profitable real estate investments","slug":"simple-profitable-real-estate-investments","canonicalUrl":"","快速搜字段擎提高提升":{"metaDescription":"Explore a couple of the simpler yet still profitable methods of investing in real estate, such as home ownership and real estate investment trusts.","noIndex":0,"noFollow":0},"content":"Investing in rental real estate that you’re responsible for can be a lot of work. Think about it this way: With rental properties, you have all the headaches of maintaining a property, including finding and dealing with tenants, without the benefits of living in and enjoying the property.\r\n<p class=\"article-tips tip\">Unless you’re extraordinarily interested in and motivated to own investment real estate, start with and perhaps limit yourself to a couple of the much simpler yet still profitable methods discussed here.</p>\r\n\r\n\r\n[caption id=\"attachment_274966\" align=\"alignnone\" width=\"556\"]<img class=\"size-full wp-image-274966\" src=\"//coursofppt.com/wp-content/uploads/investing-real-estate.jpg\" alt=\"real estate investment\" width=\"556\" height=\"371\" /> © AlexMX / Shutterstock.com[/caption]\r\n<h2 id=\"tab1\" >Find a place to call home</h2>\r\nDuring your adult life, you need to put a roof over your head. You may be able to sponge off your folks or some other relative or friend for a number of years to cut costs and save money. If you’re content with this arrangement, you can minimize your housing costs and save more for a down payment and possibly toward other goals. Go for it, if your friend or relative will!\r\n\r\nBut what if neither you nor your loved ones are up for the challenge of cohabitating? For the long term, because you need a place to live, why not own real estate instead of renting it? Real estate is the only investment that you can live in or rent to produce income. You can’t live in a stock, bond, or mutual fund! Unless you expect to move within the next few years or live in an area where owning costs much more than renting, buying a place probably makes good long-term financial sense. In the long term, owning usually costs less than renting, and it allows you to build equity in an asset.\r\n<h2 id=\"tab2\" >Think carefully before converting your home into a rental</h2>\r\nIf you move into another home, turning your current home into a rental property may make sense. After all, it saves you the time and cost of finding a separate rental property.\r\n\r\nUnfortunately, many people hold on to their current home for the wrong reasons when they buy another. Homeowners often make this mistake when they must sell their homes in a depressed market (such as the one that existed in many areas in the late 2000s). Nobody likes to sell their home for less than they paid for it, so some owners hold on to their homes until prices recover.\r\n\r\nIf you plan to move and want to keep your current home as a long-term investment property, you can. But turning your home into a short-term rental is usually a bad move for the following reasons:\r\n<ul>\r\n \t<li>You may not want the responsibilities of a landlord, yet you force yourself into the landlord business when you convert your home into a rental.</li>\r\n \t<li>If the home eventually does rebound in value, you owe tax on the profit if your property is a rental when you sell it and you don’t buy another rental property. You can purchase another rental property through a 1031 exchange to defer paying taxes on your profit.</li>\r\n</ul>\r\n<h2 id=\"tab3\" >Real estate investment trusts</h2>\r\n<em>Real estate investment trusts</em> (REITs) are entities that generally invest in different types of property, such as shopping centers, apartments, and other rental buildings. For a fee, REIT managers identify and negotiate the purchase of properties that they believe are good investments, and then they manage these properties, including all tenant relations. Thus, REITs are a good way to invest in real estate if you don’t want the hassles and headaches that come with directly owning and managing rental property.\r\n\r\nSurprisingly, most books and blogs that focus on real estate <a href=\"//coursofppt.com/personal-finance/investing/investing-for-dummies-cheat-sheet/\">investing</a> neglect REITs. Why? I’ve come to the conclusion that they overlook these entities for the following reasons:\r\n<ul>\r\n \t<li><strong>If you invest in real estate through REITs, you don’t need to read a long, complicated book on real estate investment or keep coming back to a blog.</strong> Therefore, books often focus on more complicated direct real estate investments (where you buy and own property yourself).</li>\r\n \t<li><strong>Real estate brokers write many of these books.</strong> Not surprisingly, the real estate investment strategies touted in these books include and advocate the use of such brokers. You can buy REITs without real estate brokers. Blogs and websites aren’t much better as they are often run by folks selling something else like a high-priced seminar or other direct investment “opportunity.”</li>\r\n \t<li><strong>A certain snobbishness prevails among people who consider themselves to be “serious” real estate investors.</strong> These folks thumb their noses at the benefit of REITs in an investment portfolio. One real estate writer/investor went so far as to say that REITs aren’t “real” real estate investments.</li>\r\n</ul>\r\nPlease. No, you can’t drive your friends by a REIT to show it off. But those who put their egos aside when making real estate investments are happy that they considered REITs, and have enjoyed annualized gains similar to stocks in general over the decades.\r\n\r\nYou can research and purchase shares in individual REITs, which trade as securities on the major stock exchanges. An even better approach is to buy a mutual fund or exchange-traded fund that invests in a diversified mixture of REITs.\r\n\r\nIn addition to providing you with a diversified, low-hassle real estate investment, REITs offer an additional advantage that traditional rental real estate doesn’t: You can easily invest in REITs through a retirement account (for example, an IRA). As with traditional real estate investments, you can even buy REITs, mutual fund REITs, and exchange-traded fund REITs with borrowed money. You can buy with 50 percent down, called <em>buying on margin,</em> when you purchase such investments through a non-retirement brokerage account.","description":"Investing in rental real estate that you’re responsible for can be a lot of work. Think about it this way: With rental properties, you have all the headaches of maintaining a property, including finding and dealing with tenants, without the benefits of living in and enjoying the property.\r\n<p class=\"article-tips tip\">Unless you’re extraordinarily interested in and motivated to own investment real estate, start with and perhaps limit yourself to a couple of the much simpler yet still profitable methods discussed here.</p>\r\n\r\n\r\n[caption id=\"attachment_274966\" align=\"alignnone\" width=\"556\"]<img class=\"size-full wp-image-274966\" src=\"//coursofppt.com/wp-content/uploads/investing-real-estate.jpg\" alt=\"real estate investment\" width=\"556\" height=\"371\" /> © AlexMX / Shutterstock.com[/caption]\r\n<h2 id=\"tab1\" >Find a place to call home</h2>\r\nDuring your adult life, you need to put a roof over your head. You may be able to sponge off your folks or some other relative or friend for a number of years to cut costs and save money. If you’re content with this arrangement, you can minimize your housing costs and save more for a down payment and possibly toward other goals. Go for it, if your friend or relative will!\r\n\r\nBut what if neither you nor your loved ones are up for the challenge of cohabitating? For the long term, because you need a place to live, why not own real estate instead of renting it? Real estate is the only investment that you can live in or rent to produce income. You can’t live in a stock, bond, or mutual fund! Unless you expect to move within the next few years or live in an area where owning costs much more than renting, buying a place probably makes good long-term financial sense. In the long term, owning usually costs less than renting, and it allows you to build equity in an asset.\r\n<h2 id=\"tab2\" >Think carefully before converting your home into a rental</h2>\r\nIf you move into another home, turning your current home into a rental property may make sense. After all, it saves you the time and cost of finding a separate rental property.\r\n\r\nUnfortunately, many people hold on to their current home for the wrong reasons when they buy another. Homeowners often make this mistake when they must sell their homes in a depressed market (such as the one that existed in many areas in the late 2000s). Nobody likes to sell their home for less than they paid for it, so some owners hold on to their homes until prices recover.\r\n\r\nIf you plan to move and want to keep your current home as a long-term investment property, you can. But turning your home into a short-term rental is usually a bad move for the following reasons:\r\n<ul>\r\n \t<li>You may not want the responsibilities of a landlord, yet you force yourself into the landlord business when you convert your home into a rental.</li>\r\n \t<li>If the home eventually does rebound in value, you owe tax on the profit if your property is a rental when you sell it and you don’t buy another rental property. You can purchase another rental property through a 1031 exchange to defer paying taxes on your profit.</li>\r\n</ul>\r\n<h2 id=\"tab3\" >Real estate investment trusts</h2>\r\n<em>Real estate investment trusts</em> (REITs) are entities that generally invest in different types of property, such as shopping centers, apartments, and other rental buildings. For a fee, REIT managers identify and negotiate the purchase of properties that they believe are good investments, and then they manage these properties, including all tenant relations. Thus, REITs are a good way to invest in real estate if you don’t want the hassles and headaches that come with directly owning and managing rental property.\r\n\r\nSurprisingly, most books and blogs that focus on real estate <a href=\"//coursofppt.com/personal-finance/investing/investing-for-dummies-cheat-sheet/\">investing</a> neglect REITs. Why? I’ve come to the conclusion that they overlook these entities for the following reasons:\r\n<ul>\r\n \t<li><strong>If you invest in real estate through REITs, you don’t need to read a long, complicated book on real estate investment or keep coming back to a blog.</strong> Therefore, books often focus on more complicated direct real estate investments (where you buy and own property yourself).</li>\r\n \t<li><strong>Real estate brokers write many of these books.</strong> Not surprisingly, the real estate investment strategies touted in these books include and advocate the use of such brokers. You can buy REITs without real estate brokers. Blogs and websites aren’t much better as they are often run by folks selling something else like a high-priced seminar or other direct investment “opportunity.”</li>\r\n \t<li><strong>A certain snobbishness prevails among people who consider themselves to be “serious” real estate investors.</strong> These folks thumb their noses at the benefit of REITs in an investment portfolio. One real estate writer/investor went so far as to say that REITs aren’t “real” real estate investments.</li>\r\n</ul>\r\nPlease. No, you can’t drive your friends by a REIT to show it off. But those who put their egos aside when making real estate investments are happy that they considered REITs, and have enjoyed annualized gains similar to stocks in general over the decades.\r\n\r\nYou can research and purchase shares in individual REITs, which trade as securities on the major stock exchanges. An even better approach is to buy a mutual fund or exchange-traded fund that invests in a diversified mixture of REITs.\r\n\r\nIn addition to providing you with a diversified, low-hassle real estate investment, REITs offer an additional advantage that traditional rental real estate doesn’t: You can easily invest in REITs through a retirement account (for example, an IRA). As with traditional real estate investments, you can even buy REITs, mutual fund REITs, and exchange-traded fund REITs with borrowed money. You can buy with 50 percent down, called <em>buying on margin,</em> when you purchase such investments through a non-retirement brokerage account.","blurb":"","authors":[{"authorId":8975,"name":"Eric Tyson","slug":"eric-tyson","description":" <p><b>Eric Tyson</B> is the best-selling author of <i>Personal Finance For Dummies, Investing For Dummies,</i> and co-author of <i>Real Estate Investing For Dummies </i>and <i>Taxes For Dummies.</i> Tyson is a nationally recognized personal finance counselor, writer, and lecturer.</p> ","hasArticle":false,"_links":{"self":"//dummies-api.coursofppt.com/v2/authors/8975"}}],"primaryCategoryTaxonomy":{"categoryId":34299,"title":"Real Estate","slug":"real-estate","_links":{"self":"//dummies-api.coursofppt.com/v2/categories/34299"}},"secondaryCategoryTaxonomy":{"categoryId":0,"title":null,"slug":null,"_links":null},"tertiaryCategoryTaxonomy":{"categoryId":0,"title":null,"slug":null,"_links":null},"trendingArticles":null,"inThisArticle":[{"label":"Find a place to call home","target":"#tab1"},{"label":"Think carefully before converting your home into a rental","target":"#tab2"},{"label":"Real estate investment trusts","target":"#tab3"}],"relatedArticles":{"fromBook":[],"fromCategory":[{"articleId":296220,"title":"Real Estate Investing All-in-One For Dummies Cheat Sheet","slug":"real-estate-investing-all-in-one-for-dummies-cheat-sheet","categoryList":["business-careers-money","personal-finance","investing","real-estate"],"_links":{"self":"//dummies-api.coursofppt.com/v2/articles/296220"}},{"articleId":291208,"title":"Foreclosure Investing For Dummies Cheat Sheet","slug":"foreclosure-investing-for-dummies-cheat-sheet","categoryList":["business-careers-money","personal-finance","investing","real-estate"],"_links":{"self":"//dummies-api.coursofppt.com/v2/articles/291208"}},{"articleId":274970,"title":"How Home Ownership Can Help You Achieve Financial Goals","slug":"how-home-ownership-can-help-you-achieve-financial-goals","categoryList":["business-careers-money","personal-finance","investing","real-estate"],"_links":{"self":"//dummies-api.coursofppt.com/v2/articles/274970"}},{"articleId":266690,"title":"Public and Private Real Estate Investment Trusts","slug":"public-and-private-real-estate-investment-trusts","categoryList":["business-careers-money","personal-finance","investing","real-estate"],"_links":{"self":"//dummies-api.coursofppt.com/v2/articles/266690"}},{"articleId":266683,"title":"How to Qualify Property Inspectors for Real Estate Investments","slug":"how-to-qualify-property-inspectors-for-real-estate-investments","categoryList":["business-careers-money","personal-finance","investing","real-estate"],"_links":{"self":"//dummies-api.coursofppt.com/v2/articles/266683"}}]},"hasRelatedBookFromSearch":false,"relatedBook":{"bookId":0,"slug":null,"isbn":null,"categoryList":null,"amazon":null,"image":null,"title":null,"testBankPinActivationLink":null,"bookOutOfPrint":false,"authorsInfo":null,"authors":null,"_links":null},"collections":[],"articleAds":{"footerAd":"<div class=\"du-ad-region row\" id=\"article_page_adhesion_ad\"><div class=\"du-ad-unit col-md-12\" data-slot-id=\"article_page_adhesion_ad\" data-refreshed=\"false\" \r\n data-target = \"[{&quot;key&quot;:&quot;cat&quot;,&quot;values&quot;:[&quot;business-careers-money&quot;,&quot;personal-finance&quot;,&quot;investing&quot;,&quot;real-estate&quot;]},{&quot;key&quot;:&quot;isbn&quot;,&quot;values&quot;:[null]}]\" id=\"du-slot-641b425eeb1eb\"></div></div>","rightAd":"<div class=\"du-ad-region row\" id=\"article_page_right_ad\"><div class=\"du-ad-unit col-md-12\" data-slot-id=\"article_page_right_ad\" data-refreshed=\"false\" \r\n data-target = \"[{&quot;key&quot;:&quot;cat&quot;,&quot;values&quot;:[&quot;business-careers-money&quot;,&quot;personal-finance&quot;,&quot;investing&quot;,&quot;real-estate&quot;]},{&quot;key&quot;:&quot;isbn&quot;,&quot;values&quot;:[null]}]\" id=\"du-slot-641b425eeb95b\"></div></div>"},"articleType":{"articleType":"Articles","articleList":null,"content":null,"videoInfo":{"videoId":null,"name":null,"accountId":null,"playerId":null,"thumbnailUrl":null,"description":null,"uploadDate":null}},"sponsorship":{"sponsorshipPage":false,"backgroundImage":{"src":null,"width":0,"height":0},"brandingLine":"","brandingLink":"","brandingLogo":{"src":null,"width":0,"height":0},"sponsorAd":"","sponsorEbookTitle":"","sponsorEbookLink":"","sponsorEbookImage":{"src":null,"width":0,"height":0}},"primaryLearningPath":"Explore","lifeExpectancy":"Two years","lifeExpectancySetFrom":"2024-03-22T00:00:00+00:00","dummiesForKids":"no","sponsoredContent":"no","adInfo":"","adPairKey":[]},"status":"publish","visibility":"public","articleId":274965},{"headers":{"creationTime":"2021-12-17T03:55:59+00:00","modifiedTime":"2024-03-22T15:33:23+00:00","timestamp":"2024-03-22T18:01:02+00:00"},"data":{"breadcrumbs":[{"name":"Business, Careers, & Money","_links":{"self":"//dummies-api.coursofppt.com/v2/categories/34224"},"slug":"business-careers-money","categoryId":34224},{"name":"Personal Finance","_links":{"self":"//dummies-api.coursofppt.com/v2/categories/34273"},"slug":"personal-finance","categoryId":34273},{"name":"Investing","_links":{"self":"//dummies-api.coursofppt.com/v2/categories/34288"},"slug":"investing","categoryId":34288},{"name":"Real Estate","_links":{"self":"//dummies-api.coursofppt.com/v2/categories/34299"},"slug":"real-estate","categoryId":34299}],"title":"How Home Ownership Can Help You Achieve Financial Goals","strippedTitle":"how home ownership can help you achieve financial goals","slug":"how-home-ownership-can-help-you-achieve-financial-goals","canonicalUrl":"","快速搜字段擎提高提升":{"metaDescription":"Home ownership can help you accomplish important financial goals: retiring, running a small business, and pursuing higher education.","noIndex":0,"noFollow":0},"content":"Even though your home consumes a lot of dough (mortgage payments, property taxes, insurance, maintenance, and so on) while you own it, it can help you accomplish important financial goals:\r\n<ul>\r\n \t<li><strong>Retiring:</strong> By the time you hit your 50s and 60s, the size of your monthly mortgage payment, relative to your income and assets, should start to look small or nonexistent. Lowered housing costs can help you afford to retire or cut back from full-time work. Some people choose to sell their homes and buy less-costly ones or to rent out the homes and live on some or all of the cash in retirement. Other homeowners enhance their retirement income by taking out a reverse mortgage to tap the equity that they’ve built up in their properties.</li>\r\n \t<li><strong>Pursuing your small-business dreams:</strong> Running your own business can be a source of great satisfaction. Financial barriers, however, prevent many people from pulling the plug on a regular job and taking the entrepreneurial plunge. You may be able to borrow against the equity that you’ve built up in your home to get the cash you need to start your own business. Depending on what type of business you have in mind, you may even be able to run your enterprise from your home.</li>\r\n \t<li><strong>Financing college/higher education:</strong> It may seem like only yesterday that your kids were born, but soon enough they’ll be ready for an expensive four-year undertaking: college. Of course, there are alternatives. Borrowing against the equity in your home is a viable way to help pay for your kids’ higher-education costs.</li>\r\n</ul>\r\nPerhaps you won’t use your home’s equity for retirement, a small business, educational expenses, or other important financial goals. But even if you decide to pass your home on to your children, a charity, or a long-lost relative, it’s still a valuable asset and a worthwhile <a href=\"//coursofppt.com/personal-finance/investing/investing-for-dummies-cheat-sheet/\">investment</a>.\r\n\r\nThe decision of if and when to buy a home can be complex. Money matters, but so do personal and emotional issues. Buying a home is a big deal — you’re settling down. Can you really see yourself coming home to this same place day after day, year after year? Of course, you can always move, but doing so, especially within just a few years of purchasing the home, can be costly and cumbersome, and now you’ve got a financial obligation to deal with.\r\n<h2 id=\"tab1\" >The pros and cons of ownership</h2>\r\nSome people — particularly enthusiastic salespeople in the real estate business — believe everybody should own a home. You may hear them say things like “Buy a home for the tax breaks” or “Renting is like throwing your money away.”\r\n<p class=\"article-tips remember\">The bulk of home ownership costs — namely, mortgage interest and property taxes — are tax-deductible, subject to limitations. However, these tax breaks are already largely factored into the higher cost of owning a home. So, don’t buy a home just because of the tax breaks.</p>\r\nIf such tax breaks didn’t exist, housing prices would be lower because the effective cost of owning would be so much higher. I wouldn’t be put off by tax reform discussions that mention reducing or even eliminating home-buying tax breaks — the odds of such changes passing are slim to none.\r\n\r\nRenting isn’t necessarily equal to “throwing your money away.” In fact, renting can have a number of benefits, such as the following:\r\n<ul>\r\n \t<li><strong>In some communities, with a given type of property, renting is less costly than buying.</strong> Happy and successful renters I’ve seen include people who pay low rent, perhaps because they’ve made housing sacrifices. If you can sock away 10 percent or more of your earnings while renting, you’re probably well on your way to accomplishing your future financial goals.</li>\r\n \t<li><strong>You can save money and hopefully invest in other financial assets.</strong> Stocks, bonds, and mutual and exchange-traded funds are quite accessible and useful in retirement. Some long-term homeowners, by contrast, have a substantial portion of their wealth tied up in their homes. (<strong><em>Remember:</em></strong> Accessibility is a double-edged sword because it may tempt you as a cash-rich renter to blow the money in the short term.)</li>\r\n \t<li><strong>Renting has potential emotional and psychological rewards.</strong> The main reward is the not-so-inconsequential fact that you have more flexibility to pack up and move on. You may have a lease to fulfill, but you may be able to renegotiate it if you need to move on. As a homeowner, you have a major monthly payment to take care of. To some people, this responsibility feels like a financial ball and chain. After all, you have no guarantee that you can sell your home in a timely fashion or at the price you desire if you want to move.</li>\r\n</ul>\r\n<p class=\"article-tips warning\">Although renting has its benefits, renting has at least one big drawback: exposure to inflation. As the cost of living increases, your landlord can keep increasing your rent (unless you live in a rent-controlled unit). If you’re a homeowner, however, the big monthly expense of the mortgage payment doesn’t increase, assuming that you buy your home with a fixed-rate mortgage. (Your property taxes, homeowners insurance, and maintenance expenses are exposed to inflation, but these expenses are usually much smaller in comparison to your monthly mortgage payment or rent.)</p>\r\nHere’s a quick example to show you how inflation can work against you as a long-term renter. Suppose you’re comparing the costs of owning a home that costs $200,000 to renting a similar property for $1,000 a month. (If you’re in a high-cost urban area and these numbers seem low, please bear with me and focus on the general insights, which you can apply to higher-cost areas.)\r\n\r\nBuying at $200,000 sounds a lot more expensive than renting for $1,000, doesn’t it? But this isn’t an apples-to-apples comparison. You must compare the monthly cost of owning to the monthly cost of renting. You must also factor the tax benefits of home ownership in to your comparison so you compare the after-tax monthly cost of owning versus renting (mortgage interest on up to $750,000 of mortgage debt and property taxes up to $10,000 worth per year when combined with other state and local taxes are tax-deductible). The figure does just that over 30 years.\r\n\r\n[caption id=\"attachment_274971\" align=\"alignnone\" width=\"556\"]<img class=\"size-full wp-image-274971\" src=\"//coursofppt.com/wp-content/uploads/investing-renting-costs.jpg\" alt=\"renting versus buying costs\" width=\"556\" height=\"268\" /> Because of inflation, renting is generally more costly in the long run.[/caption]\r\n\r\nAs you can see in Figure 10-1, although owning costs more in the early years, it should be less expensive in the long run. Renting is costlier in the long term because all your rental expenses increase with inflation. <strong><em>Note:</em></strong> I haven’t factored in the potential change in the value of your home over time. Over long periods of time, home prices tend to appreciate, which makes owning even more attractive.\r\n<p class=\"article-tips tech\">The example in Figure 10-1 assumes that you make a 20 percent down payment and take out a 4 percent fixed-rate mortgage to purchase the property. It also assumes that the rate of inflation of your homeowners’ insurance, property taxes, maintenance, and rent is 3 percent per year. I’ve assumed that the person is in a moderate federal income tax bracket of 24 percent and about half their mortgage interest and property taxes are effectively reducing their tax burden. In the absence of having enough such deductions to be able to itemize deductions, federal income tax filers now qualify for larger so-called standard deductions.</p>\r\n<p class=\"article-tips tech\">If inflation is lower, renting doesn’t necessarily become cheaper in the long term. In the absence of inflation, your rent should escalate less, but your home ownership expenses, which are subject to inflation (property taxes, maintenance, and insurance), should increase less, too. And with low inflation, you can probably refinance your mortgage at a lower interest rate, which reduces your monthly mortgage payments. With low or no inflation, owning can still cost less, but the savings versus renting usually aren’t as dramatic as when inflation is greater.</p>\r\n\r\n<h2 id=\"tab2\" >Recouping transaction costs</h2>\r\nFinancially speaking, I recommend that you wait to buy a home until you can see yourself staying put for a minimum of three years. Ideally, I’d like you to think that you have a good shot of staying in the home for five or more years. Why? Buying and selling a home cost big bucks, and you generally need at least five years of low appreciation to recoup your transaction costs. Some of the expenses you face when buying and selling a home include the following:\r\n<ul>\r\n \t<li><strong>Inspection fees:</strong> You shouldn’t buy a property without thoroughly checking it out, so you’ll incur inspection expenses. Good inspectors can help you identify problems with the plumbing, heating, and electrical systems. They also check out the foundation, roof, and so on. They can even tell you whether termites are living in the house. Property inspections typically range from a few hundred dollars up to $1,000+ for larger homes.</li>\r\n \t<li><strong>Loan costs:</strong> The costs of getting a mortgage include items such as the <em>points</em> (upfront interest that can run 1 to 2 percent of the loan amount), application and credit report fees, and appraisal fees.</li>\r\n \t<li><strong>Title insurance:</strong> When you buy a home, you and your lender need to protect yourselves against the chance — albeit small — that the property seller doesn’t actually legally own the home you’re buying. That’s where title insurance comes in — it protects you financially from unscrupulous sellers. Title insurance costs vary by area; 0.5 percent of the purchase price of the property is about average.</li>\r\n \t<li><strong>Moving costs:</strong> You can transport all of your furniture, clothing, and other personal belongings yourself, but your time is worth something, and your moving skills may be limited. Besides, do you want to end up in a hospital emergency room after being pinned at the bottom of a staircase by a runaway couch? Moving costs vary wildly, but you can count on spending hundreds to thousands of dollars. (You can get a ballpark idea of moving costs from a number of online calculators.)</li>\r\n \t<li><strong>Real estate agents’ commissions:</strong> A commission of 5 to 7 percent of the purchase price of most homes is paid to the real estate salespeople and the companies they work for. Higher priced homes generally qualify for lower commission rates.</li>\r\n</ul>\r\n<p class=\"article-tips remember\">On top of all these transaction costs of buying and then selling a home, you’ll also face maintenance expenses — for example, fixing leaky pipes and painting. To cover all the transaction and maintenance costs of home ownership, the value of your home needs to appreciate about 15 percent over the years that you own it for you to be as well off financially as if you had continued renting. Fifteen percent! If you need or want to move elsewhere in a few years, counting on that kind of appreciation in those few years is risky. If you happen to buy just before a sharp rise in housing prices, you may get this much appreciation in a short time. But you can’t count on this upswing — you’re more likely to lose money on such a short-term deal.</p>\r\nSome people invest in real estate even when they don’t expect to live in the home for long, and they may consider turning their home into a rental if they move within a few years. Doing so can work well financially in the long haul, but don’t underestimate the responsibilities that come with rental property.","description":"Even though your home consumes a lot of dough (mortgage payments, property taxes, insurance, maintenance, and so on) while you own it, it can help you accomplish important financial goals:\r\n<ul>\r\n \t<li><strong>Retiring:</strong> By the time you hit your 50s and 60s, the size of your monthly mortgage payment, relative to your income and assets, should start to look small or nonexistent. Lowered housing costs can help you afford to retire or cut back from full-time work. Some people choose to sell their homes and buy less-costly ones or to rent out the homes and live on some or all of the cash in retirement. Other homeowners enhance their retirement income by taking out a reverse mortgage to tap the equity that they’ve built up in their properties.</li>\r\n \t<li><strong>Pursuing your small-business dreams:</strong> Running your own business can be a source of great satisfaction. Financial barriers, however, prevent many people from pulling the plug on a regular job and taking the entrepreneurial plunge. You may be able to borrow against the equity that you’ve built up in your home to get the cash you need to start your own business. Depending on what type of business you have in mind, you may even be able to run your enterprise from your home.</li>\r\n \t<li><strong>Financing college/higher education:</strong> It may seem like only yesterday that your kids were born, but soon enough they’ll be ready for an expensive four-year undertaking: college. Of course, there are alternatives. Borrowing against the equity in your home is a viable way to help pay for your kids’ higher-education costs.</li>\r\n</ul>\r\nPerhaps you won’t use your home’s equity for retirement, a small business, educational expenses, or other important financial goals. But even if you decide to pass your home on to your children, a charity, or a long-lost relative, it’s still a valuable asset and a worthwhile <a href=\"//coursofppt.com/personal-finance/investing/investing-for-dummies-cheat-sheet/\">investment</a>.\r\n\r\nThe decision of if and when to buy a home can be complex. Money matters, but so do personal and emotional issues. Buying a home is a big deal — you’re settling down. Can you really see yourself coming home to this same place day after day, year after year? Of course, you can always move, but doing so, especially within just a few years of purchasing the home, can be costly and cumbersome, and now you’ve got a financial obligation to deal with.\r\n<h2 id=\"tab1\" >The pros and cons of ownership</h2>\r\nSome people — particularly enthusiastic salespeople in the real estate business — believe everybody should own a home. You may hear them say things like “Buy a home for the tax breaks” or “Renting is like throwing your money away.”\r\n<p class=\"article-tips remember\">The bulk of home ownership costs — namely, mortgage interest and property taxes — are tax-deductible, subject to limitations. However, these tax breaks are already largely factored into the higher cost of owning a home. So, don’t buy a home just because of the tax breaks.</p>\r\nIf such tax breaks didn’t exist, housing prices would be lower because the effective cost of owning would be so much higher. I wouldn’t be put off by tax reform discussions that mention reducing or even eliminating home-buying tax breaks — the odds of such changes passing are slim to none.\r\n\r\nRenting isn’t necessarily equal to “throwing your money away.” In fact, renting can have a number of benefits, such as the following:\r\n<ul>\r\n \t<li><strong>In some communities, with a given type of property, renting is less costly than buying.</strong> Happy and successful renters I’ve seen include people who pay low rent, perhaps because they’ve made housing sacrifices. If you can sock away 10 percent or more of your earnings while renting, you’re probably well on your way to accomplishing your future financial goals.</li>\r\n \t<li><strong>You can save money and hopefully invest in other financial assets.</strong> Stocks, bonds, and mutual and exchange-traded funds are quite accessible and useful in retirement. Some long-term homeowners, by contrast, have a substantial portion of their wealth tied up in their homes. (<strong><em>Remember:</em></strong> Accessibility is a double-edged sword because it may tempt you as a cash-rich renter to blow the money in the short term.)</li>\r\n \t<li><strong>Renting has potential emotional and psychological rewards.</strong> The main reward is the not-so-inconsequential fact that you have more flexibility to pack up and move on. You may have a lease to fulfill, but you may be able to renegotiate it if you need to move on. As a homeowner, you have a major monthly payment to take care of. To some people, this responsibility feels like a financial ball and chain. After all, you have no guarantee that you can sell your home in a timely fashion or at the price you desire if you want to move.</li>\r\n</ul>\r\n<p class=\"article-tips warning\">Although renting has its benefits, renting has at least one big drawback: exposure to inflation. As the cost of living increases, your landlord can keep increasing your rent (unless you live in a rent-controlled unit). If you’re a homeowner, however, the big monthly expense of the mortgage payment doesn’t increase, assuming that you buy your home with a fixed-rate mortgage. (Your property taxes, homeowners insurance, and maintenance expenses are exposed to inflation, but these expenses are usually much smaller in comparison to your monthly mortgage payment or rent.)</p>\r\nHere’s a quick example to show you how inflation can work against you as a long-term renter. Suppose you’re comparing the costs of owning a home that costs $200,000 to renting a similar property for $1,000 a month. (If you’re in a high-cost urban area and these numbers seem low, please bear with me and focus on the general insights, which you can apply to higher-cost areas.)\r\n\r\nBuying at $200,000 sounds a lot more expensive than renting for $1,000, doesn’t it? But this isn’t an apples-to-apples comparison. You must compare the monthly cost of owning to the monthly cost of renting. You must also factor the tax benefits of home ownership in to your comparison so you compare the after-tax monthly cost of owning versus renting (mortgage interest on up to $750,000 of mortgage debt and property taxes up to $10,000 worth per year when combined with other state and local taxes are tax-deductible). The figure does just that over 30 years.\r\n\r\n[caption id=\"attachment_274971\" align=\"alignnone\" width=\"556\"]<img class=\"size-full wp-image-274971\" src=\"//coursofppt.com/wp-content/uploads/investing-renting-costs.jpg\" alt=\"renting versus buying costs\" width=\"556\" height=\"268\" /> Because of inflation, renting is generally more costly in the long run.[/caption]\r\n\r\nAs you can see in Figure 10-1, although owning costs more in the early years, it should be less expensive in the long run. Renting is costlier in the long term because all your rental expenses increase with inflation. <strong><em>Note:</em></strong> I haven’t factored in the potential change in the value of your home over time. Over long periods of time, home prices tend to appreciate, which makes owning even more attractive.\r\n<p class=\"article-tips tech\">The example in Figure 10-1 assumes that you make a 20 percent down payment and take out a 4 percent fixed-rate mortgage to purchase the property. It also assumes that the rate of inflation of your homeowners’ insurance, property taxes, maintenance, and rent is 3 percent per year. I’ve assumed that the person is in a moderate federal income tax bracket of 24 percent and about half their mortgage interest and property taxes are effectively reducing their tax burden. In the absence of having enough such deductions to be able to itemize deductions, federal income tax filers now qualify for larger so-called standard deductions.</p>\r\n<p class=\"article-tips tech\">If inflation is lower, renting doesn’t necessarily become cheaper in the long term. In the absence of inflation, your rent should escalate less, but your home ownership expenses, which are subject to inflation (property taxes, maintenance, and insurance), should increase less, too. And with low inflation, you can probably refinance your mortgage at a lower interest rate, which reduces your monthly mortgage payments. With low or no inflation, owning can still cost less, but the savings versus renting usually aren’t as dramatic as when inflation is greater.</p>\r\n\r\n<h2 id=\"tab2\" >Recouping transaction costs</h2>\r\nFinancially speaking, I recommend that you wait to buy a home until you can see yourself staying put for a minimum of three years. Ideally, I’d like you to think that you have a good shot of staying in the home for five or more years. Why? Buying and selling a home cost big bucks, and you generally need at least five years of low appreciation to recoup your transaction costs. Some of the expenses you face when buying and selling a home include the following:\r\n<ul>\r\n \t<li><strong>Inspection fees:</strong> You shouldn’t buy a property without thoroughly checking it out, so you’ll incur inspection expenses. Good inspectors can help you identify problems with the plumbing, heating, and electrical systems. They also check out the foundation, roof, and so on. They can even tell you whether termites are living in the house. Property inspections typically range from a few hundred dollars up to $1,000+ for larger homes.</li>\r\n \t<li><strong>Loan costs:</strong> The costs of getting a mortgage include items such as the <em>points</em> (upfront interest that can run 1 to 2 percent of the loan amount), application and credit report fees, and appraisal fees.</li>\r\n \t<li><strong>Title insurance:</strong> When you buy a home, you and your lender need to protect yourselves against the chance — albeit small — that the property seller doesn’t actually legally own the home you’re buying. That’s where title insurance comes in — it protects you financially from unscrupulous sellers. Title insurance costs vary by area; 0.5 percent of the purchase price of the property is about average.</li>\r\n \t<li><strong>Moving costs:</strong> You can transport all of your furniture, clothing, and other personal belongings yourself, but your time is worth something, and your moving skills may be limited. Besides, do you want to end up in a hospital emergency room after being pinned at the bottom of a staircase by a runaway couch? Moving costs vary wildly, but you can count on spending hundreds to thousands of dollars. (You can get a ballpark idea of moving costs from a number of online calculators.)</li>\r\n \t<li><strong>Real estate agents’ commissions:</strong> A commission of 5 to 7 percent of the purchase price of most homes is paid to the real estate salespeople and the companies they work for. Higher priced homes generally qualify for lower commission rates.</li>\r\n</ul>\r\n<p class=\"article-tips remember\">On top of all these transaction costs of buying and then selling a home, you’ll also face maintenance expenses — for example, fixing leaky pipes and painting. To cover all the transaction and maintenance costs of home ownership, the value of your home needs to appreciate about 15 percent over the years that you own it for you to be as well off financially as if you had continued renting. Fifteen percent! If you need or want to move elsewhere in a few years, counting on that kind of appreciation in those few years is risky. If you happen to buy just before a sharp rise in housing prices, you may get this much appreciation in a short time. But you can’t count on this upswing — you’re more likely to lose money on such a short-term deal.</p>\r\nSome people invest in real estate even when they don’t expect to live in the home for long, and they may consider turning their home into a rental if they move within a few years. Doing so can work well financially in the long haul, but don’t underestimate the responsibilities that come with rental property.","blurb":"","authors":[{"authorId":8975,"name":"Eric Tyson","slug":"eric-tyson","description":" <p><b>Eric Tyson</B> is the best-selling author of <i>Personal Finance For Dummies, Investing For Dummies,</i> and co-author of <i>Real Estate Investing For Dummies </i>and <i>Taxes For Dummies.</i> Tyson is a nationally recognized personal finance counselor, writer, and lecturer.</p> ","hasArticle":false,"_links":{"self":"//dummies-api.coursofppt.com/v2/authors/8975"}}],"primaryCategoryTaxonomy":{"categoryId":34299,"title":"Real Estate","slug":"real-estate","_links":{"self":"//dummies-api.coursofppt.com/v2/categories/34299"}},"secondaryCategoryTaxonomy":{"categoryId":0,"title":null,"slug":null,"_links":null},"tertiaryCategoryTaxonomy":{"categoryId":0,"title":null,"slug":null,"_links":null},"trendingArticles":null,"inThisArticle":[{"label":"The pros and cons of ownership","target":"#tab1"},{"label":"Recouping transaction costs","target":"#tab2"}],"relatedArticles":{"fromBook":[],"fromCategory":[{"articleId":296220,"title":"Real Estate Investing All-in-One For Dummies Cheat Sheet","slug":"real-estate-investing-all-in-one-for-dummies-cheat-sheet","categoryList":["business-careers-money","personal-finance","investing","real-estate"],"_links":{"self":"//dummies-api.coursofppt.com/v2/articles/296220"}},{"articleId":291208,"title":"Foreclosure Investing For Dummies Cheat Sheet","slug":"foreclosure-investing-for-dummies-cheat-sheet","categoryList":["business-careers-money","personal-finance","investing","real-estate"],"_links":{"self":"//dummies-api.coursofppt.com/v2/articles/291208"}},{"articleId":274965,"title":"Simple, Profitable Real Estate Investments","slug":"simple-profitable-real-estate-investments","categoryList":["business-careers-money","personal-finance","investing","real-estate"],"_links":{"self":"//dummies-api.coursofppt.com/v2/articles/274965"}},{"articleId":266690,"title":"Public and Private Real Estate Investment Trusts","slug":"public-and-private-real-estate-investment-trusts","categoryList":["business-careers-money","personal-finance","investing","real-estate"],"_links":{"self":"//dummies-api.coursofppt.com/v2/articles/266690"}},{"articleId":266683,"title":"How to Qualify Property Inspectors for Real Estate 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Money","_links":{"self":"//dummies-api.coursofppt.com/v2/categories/34224"},"slug":"business-careers-money","categoryId":34224},{"name":"Personal Finance","_links":{"self":"//dummies-api.coursofppt.com/v2/categories/34273"},"slug":"personal-finance","categoryId":34273},{"name":"Investing","_links":{"self":"//dummies-api.coursofppt.com/v2/categories/34288"},"slug":"investing","categoryId":34288},{"name":"Real Estate","_links":{"self":"//dummies-api.coursofppt.com/v2/categories/34299"},"slug":"real-estate","categoryId":34299}],"title":"Real Estate Investing For Canadians For Dummies Cheat Sheet","strippedTitle":"real estate investing for canadians for dummies cheat sheet","slug":"real-estate-investing-for-canadians-for-dummies-cheat-sheet","canonicalUrl":"","快速搜字段擎提高提升":{"metaDescription":"Brush up on real estate terminology, discover how to identify profitable properties and where to turn for help before you invest in Canadian real estate.","noIndex":0,"noFollow":0},"content":"Interested in adding Canadian real estate to your investment portfolio? Give yourself a head-start by brushing up on your real estate terminology, discovering how to identify <a href=\"//coursofppt.com/personal-finance/real-estate-investing/scouting-canadian-properties-for-your-real-estate-investing-portfolio/\" target=\"_blank\" rel=\"noopener\">profitable properties</a>, and knowing where to turn for reliable help online.","description":"Interested in adding Canadian real estate to your investment portfolio? Give yourself a head-start by brushing up on your real estate terminology, discovering how to identify <a href=\"//coursofppt.com/personal-finance/real-estate-investing/scouting-canadian-properties-for-your-real-estate-investing-portfolio/\" target=\"_blank\" rel=\"noopener\">profitable properties</a>, and knowing where to turn for reliable help online.","blurb":"","authors":[],"primaryCategoryTaxonomy":{"categoryId":34299,"title":"Real Estate","slug":"real-estate","_links":{"self":"//dummies-api.coursofppt.com/v2/categories/34299"}},"secondaryCategoryTaxonomy":{"categoryId":0,"title":null,"slug":null,"_links":null},"tertiaryCategoryTaxonomy":{"categoryId":0,"title":null,"slug":null,"_links":null},"trendingArticles":null,"inThisArticle":[],"relatedArticles":{"fromBook":[],"fromCategory":[{"articleId":291208,"title":"Foreclosure Investing For Dummies Cheat Sheet","slug":"foreclosure-investing-for-dummies-cheat-sheet","categoryList":["business-careers-money","personal-finance","investing","real-estate"],"_links":{"self":"//dummies-api.coursofppt.com/v2/articles/291208"}},{"articleId":274970,"title":"How Home Ownership Can Help You Achieve Financial Goals","slug":"how-home-ownership-can-help-you-achieve-financial-goals","categoryList":["business-careers-money","personal-finance","investing","real-estate"],"_links":{"self":"//dummies-api.coursofppt.com/v2/articles/274970"}},{"articleId":274965,"title":"Simple, Profitable Real Estate Investments","slug":"simple-profitable-real-estate-investments","categoryList":["business-careers-money","personal-finance","investing","real-estate"],"_links":{"self":"//dummies-api.coursofppt.com/v2/articles/274965"}},{"articleId":266690,"title":"Public and Private Real Estate Investment Trusts","slug":"public-and-private-real-estate-investment-trusts","categoryList":["business-careers-money","personal-finance","investing","real-estate"],"_links":{"self":"//dummies-api.coursofppt.com/v2/articles/266690"}},{"articleId":266683,"title":"How to Qualify Property Inspectors for Real Estate Investments","slug":"how-to-qualify-property-inspectors-for-real-estate-investments","categoryList":["business-careers-money","personal-finance","investing","real-estate"],"_links":{"self":"//dummies-api.coursofppt.com/v2/articles/266683"}}]},"hasRelatedBookFromSearch":false,"relatedBook":{"bookId":282531,"slug":"real-estate-investing-for-canadians-for-dummies-3rd-edition","isbn":"9781119648420","categoryList":["business-careers-money","personal-finance","investing","real-estate"],"amazon":{"default":"//www.amazon.com/gp/product/1119648424/ref=as_li_tl?ie=UTF8&tag=wiley01-20","ca":"//www.amazon.ca/gp/product/1119648424/ref=as_li_tl?ie=UTF8&tag=wiley01-20","indigo_ca":"//www.tkqlhce.com/click-9208661-13710633?url=//www.chapters.indigo.ca/en-ca/books/product/1119648424-item.html&cjsku=978111945484","gb":"//www.amazon.co.uk/gp/product/1119648424/ref=as_li_tl?ie=UTF8&tag=wiley01-20","de":"//www.amazon.de/gp/product/1119648424/ref=as_li_tl?ie=UTF8&tag=wiley01-20"},"image":{"src":"//coursofppt.com/wp-content/uploads/real-estate-investing-for-canadians-for-dummies-3rd-edition-cover-9781119648420-203x255.jpg","width":203,"height":255},"title":"Real Estate Investing For Canadians For Dummies","testBankPinActivationLink":"","bookOutOfPrint":true,"authorsInfo":"<p><b>Douglas Gray, LLB,</b> is one of the foremost experts on real estate in Canada. He practised as a real estate and business lawyer for many years and has written numerous bestselling real estate, business, and personal finance books. His website is homebuyer.ca.</p> <p><b><b data-author-id=\"33473\">Peter Mitham</b></b> has more than 20 years' experience writing about Canadian real estate for national and international publications.</p> <p><b><b data-author-id=\"33472\">Douglas Gray</b>, LLB,</b> is one of the foremost experts on real estate in Canada. He practised as a real estate and business lawyer for many years and has written numerous bestselling real estate, business, and personal finance books. His website is homebuyer.ca.</p> <p><b>Peter Mitham</b> has more than 20 years' experience writing about Canadian real estate for national and international publications.</p>","authors":[{"authorId":33473,"name":"Peter Mitham","slug":"peter-mitham","description":" <p><b>Douglas Gray, LLB,</b> is one of the foremost experts on real estate in Canada. He practised as a real estate and business lawyer for many years and has written numerous bestselling real estate, business, and personal finance books. His website is homebuyer.ca.</p> <p><b>Peter Mitham</b> has more than 20 years' experience writing about Canadian real estate for national and international publications.</p>","hasArticle":false,"_links":{"self":"//dummies-api.coursofppt.com/v2/authors/33473"}},{"authorId":33472,"name":"Douglas Gray","slug":"douglas-gray","description":" <p><b>Douglas Gray, LLB,</b> is one of the foremost experts on real estate in Canada. He practised as a real estate and business lawyer for many years and has written numerous bestselling real estate, business, and personal finance books. His website is homebuyer.ca.</p> <p><b>Peter Mitham</b> has more than 20 years' experience writing about Canadian real estate for national and international publications.</p>","hasArticle":false,"_links":{"self":"//dummies-api.coursofppt.com/v2/authors/33472"}}],"_links":{"self":"//dummies-api.coursofppt.com/v2/books/"}},"collections":[],"articleAds":{"footerAd":"<div class=\"du-ad-region row\" id=\"article_page_adhesion_ad\"><div class=\"du-ad-unit col-md-12\" data-slot-id=\"article_page_adhesion_ad\" data-refreshed=\"false\" \r\n data-target = \"[{&quot;key&quot;:&quot;cat&quot;,&quot;values&quot;:[&quot;business-careers-money&quot;,&quot;personal-finance&quot;,&quot;investing&quot;,&quot;real-estate&quot;]},{&quot;key&quot;:&quot;isbn&quot;,&quot;values&quot;:[&quot;9781119648420&quot;]}]\" id=\"du-slot-63221b3245ea9\"></div></div>","rightAd":"<div class=\"du-ad-region row\" id=\"article_page_right_ad\"><div class=\"du-ad-unit col-md-12\" data-slot-id=\"article_page_right_ad\" data-refreshed=\"false\" \r\n data-target = \"[{&quot;key&quot;:&quot;cat&quot;,&quot;values&quot;:[&quot;business-careers-money&quot;,&quot;personal-finance&quot;,&quot;investing&quot;,&quot;real-estate&quot;]},{&quot;key&quot;:&quot;isbn&quot;,&quot;values&quot;:[&quot;9781119648420&quot;]}]\" id=\"du-slot-63221b3246729\"></div></div>"},"articleType":{"articleType":"Cheat Sheet","articleList":[{"articleId":191749,"title":"Real Estate Investing Terms for Canadians","slug":"real-estate-investing-terms-for-canadians","categoryList":[],"_links":{"self":"//dummies-api.coursofppt.com/v2/articles/191749"}},{"articleId":191748,"title":"Scouting Canadian Properties for your Real Estate Investing Portfolio","slug":"scouting-canadian-properties-for-your-real-estate-investing-portfolio","categoryList":[],"_links":{"self":"//dummies-api.coursofppt.com/v2/articles/191748"}},{"articleId":191745,"title":"Finding Canadian Real Estate Investing Help","slug":"finding-canadian-real-estate-investing-help","categoryList":[],"_links":{"self":"//dummies-api.coursofppt.com/v2/articles/191745"}}],"content":[{"title":"Investing in real estate: From dream to reality","thumb":null,"image":null,"content":"<p>From scouting properties to making your investment, some of the common steps you’ll take as a real estate investor include the following:</p>\n<ul>\n<li><strong>Get ready. </strong>Determine what you’re looking for in a property and which type of property best matches your expertise, investment criteria, and goals.</li>\n<li><strong>Get help.</strong> Select a mentor to guide you through your first property investment. Choose a real estate agent who has experience working with investors to identify potential listings and represent your interests to a vendor. Depending on the purchase, you may also wish to enlist an accountant, financial planner lawyer, appraiser, and other advisers.</li>\n<li><strong>Get financing.</strong> Determine the amount of mortgage financing for which you qualify and the amount of debt you’re comfortable carrying. After you’ve figured out your mortgage preferences, obtain pre-approval for mortgage financing from your financial institution or a mortgage broker.</li>\n<li><strong>Get focused. </strong>Determine where you want to invest and research the options available in the target geographic area. Shortlist properties of interest, noting the pros and cons of each with the help of your advisers. Arrange to view shortlisted properties to confirm or correct your initial impressions.</li>\n<li><strong>Get moving. </strong>Draft an offer for the property with the assistance of your real estate agent and the lawyer you’ve engaged to oversee the transaction. With their advice, include appropriate conditions in your offer that will both satisfy outstanding concerns you may have about the property or your ability to secure adequate financing. Determine the potential costs of closing the deal and budget for them.</li>\n<li><strong>Get answers.</strong> Proceed with due diligence and don’t remove any conditions on the sale until you’re fully satisfied with the purchase. This includes ensuring the property inspection is satisfactory and that all outstanding concerns with regards to title are clear. Obtain title insurance for additional security and peace of mind.</li>\n<li><strong>Get investing. </strong>Proceed with the property purchase, close the transaction, and take possession. Depending on the kind of property you’ve bought, you may be moving in and renting out the basement, or introducing yourself to the tenants and working to make their lives better and your property more profitable.</li>\n</ul>\n"},{"title":"Real estate investing terms for Canadians","thumb":null,"image":null,"content":"<p>Wondering what the acronyms CREA, MLS, or CMHC stand for? Decode the real estate jargon and brush up on your real estate investing vocabulary with these key terms:</p>\n<ul>\n<li><strong>Adjusted cost base (ACB):</strong> The value of the real property established for tax purposes. This equation can help you understand how it’s calculated:</li>\n</ul>\n<blockquote><p>Original Cost + Allowable Capital Improvements + Certain Acquisition Costs + Mortgage Interest Costs – Depreciation</p></blockquote>\n<ul>\n<li><strong>Amortization period:</strong> The actual number of years it will take to repay a mortgage loan in full. It can be well in excess of the loan’s term. For example, mortgages often have 5-year terms but 25-year amortization periods.</li>\n<li><strong>Canada Mortgage and Housing Corporation (CMHC):</strong> The federal Crown corporation that administers the National Housing Act. CMHC services include providing housing information and assistance, financing, and insuring home-purchase loans for lenders.</li>\n<li><strong>Capitalization (cap) rate:</strong> The percentage of return on an investment when purchased on a free-and-clear or all-cash basis.</li>\n<li><strong>Equity:</strong> The dollar-amount difference between the fair-market price for which a property could be sold and the total debts registered against it.</li>\n<li><strong>Multiple Listing Service (MLS):</strong> A service licensed to member real estate boards by the Canadian Real Estate Association. The MLS aggregates information about properties listed for sale.</li>\n<li><strong>Pyramiding:</strong> The process of building real estate wealth by allowing appreciation and mortgage principal reduction to increase the investors’ equity in a portfolio of properties.</li>\n<li><strong>Title insurance: </strong>This insurance covers the purchaser or vendor in case of any defects in the property or title that existed at the time of sale but weren’t known until after the sale.</li>\n</ul>\n"},{"title":"Scouting Canadian properties for your real estate investing portfolio","thumb":null,"image":null,"content":"<p>Considering a few practical elements may help you choose between an adorable rental property in the middle of nowhere or a tear-down shack with long-term potential. Keep these factors in mind when you’re evaluating a property:</p>\n<ul>\n<li><strong>Price:</strong> Compare the asking price of a property to the average sale price for similar properties in the same area. An undervalued property in a good neighbourhood stands a better chance of rising in value than an overpriced home in a neighbourhood that’s going nowhere.</li>\n<li><strong>Condition:</strong> You may be getting a great deal on a property, but if you haven’t counted on the cost of long-overdue maintenance, you may face a losing proposition. You may be able to make something of a property, but if the cost of improvements cancel the potential return, what’s the point?</li>\n<li><strong>Cash flow:</strong> Research the potential to attract tenants to a property if you’re counting on cash flow from your investment property. Remember to balance the projected revenue against operating costs to ensure your income stays ahead of expenses.</li>\n</ul>\n"},{"title":"Finding Canadian Real Estate Investing Help","thumb":null,"image":null,"content":"<p>Whether you’re looking for the latest information on housing starts, rental rates, or mortgage rates, the following sites can provide the information you need to keep pace with the market:</p>\n<ul>\n<li><strong><a href=\"//www.cmhc.ca/\" target=\"_blank\" rel=\"noopener\">Canada Mortgage and Housing Corp.</a>:</strong> Need to know how many homes are being built in your area or what rental rates are like? Need information on financing and incentives for renovations? You can find it all and much more here.</li>\n<li><strong><a href=\"//www.crea.ca/\" target=\"_blank\" rel=\"noopener\">Canadian Real Estate Association</a>:</strong> Get connected with your local real estate association, find property listings, and discover what it takes to sell real estate. Packed with useful information, this site is an online primer for home buyers and the residential properties.</li>\n<li><strong><a href=\"//www.bankofcanada.ca/\" target=\"_blank\" rel=\"noopener\">Bank of Canada</a>:</strong> The online home of Canada’s central bank. You can find key information here regarding interest rate trends, fiscal analyses, and calculators to help you calculate the impact of inflation on your investments.</li>\n<li><strong><a href=\"//www.ratehub.ca/\" target=\"_blank\" rel=\"noopener\">RateHub</a>: </strong>Whether you’re shopping around for a mortgage or sizing up historical trends and future options, the data aggregated here provides a snapshot of current mortgage rates at major lenders and calculators needed to figure out which one will suit your needs.</li>\n</ul>\n"}],"videoInfo":{"videoId":null,"name":null,"accountId":null,"playerId":null,"thumbnailUrl":null,"description":null,"uploadDate":null}},"sponsorship":{"sponsorshipPage":false,"backgroundImage":{"src":null,"width":0,"height":0},"brandingLine":"","brandingLink":"","brandingLogo":{"src":null,"width":0,"height":0},"sponsorAd":"","sponsorEbookTitle":"","sponsorEbookLink":"","sponsorEbookImage":{"src":null,"width":0,"height":0}},"primaryLearningPath":"Advance","lifeExpectancy":"Two years","lifeExpectancySetFrom":"2023-03-24T00:00:00+00:00","dummiesForKids":"no","sponsoredContent":"no","adInfo":"","adPairKey":[]},"status":"publish","visibility":"public","articleId":208920},{"headers":{"creationTime":"2017-03-27T16:48:13+00:00","modifiedTime":"2023-03-10T15:16:01+00:00","timestamp":"2023-09-14T18:19:23+00:00"},"data":{"breadcrumbs":[{"name":"Business, Careers, & Money","_links":{"self":"//dummies-api.coursofppt.com/v2/categories/34224"},"slug":"business-careers-money","categoryId":34224},{"name":"Personal Finance","_links":{"self":"//dummies-api.coursofppt.com/v2/categories/34273"},"slug":"personal-finance","categoryId":34273},{"name":"Investing","_links":{"self":"//dummies-api.coursofppt.com/v2/categories/34288"},"slug":"investing","categoryId":34288},{"name":"Real Estate","_links":{"self":"//dummies-api.coursofppt.com/v2/categories/34299"},"slug":"real-estate","categoryId":34299}],"title":"Commercial Real Estate Investing For Dummies Cheat Sheet","strippedTitle":"commercial real estate investing for dummies cheat sheet","slug":"commercial-real-estate-investing-for-dummies-cheat-sheet","canonicalUrl":"","快速搜字段擎提高提升":{"metaDescription":"Learn the important terms in the commercial estate world, as well as how deals are closed and three due-diligence checklists.","noIndex":0,"noFollow":0},"content":"Use this handy Cheat Sheet to learn how to sound like a pro real estate investor (even if you’re just getting started.) Then keep it on hand to make sure you’re staying on top of every commercial property you acquire!","description":"Use this handy Cheat Sheet to learn how to sound like a pro real estate investor (even if you’re just getting started.) Then keep it on hand to make sure you’re staying on top of every commercial property you acquire!","blurb":"","authors":[{"authorId":9462,"name":"Peter Conti","slug":"peter-conti","description":" <p><b>Peter Conti</b> bought his first commercial property in 1990. He coaches beginner investors on commercial real estate investment. He founded RealEstate101.com.</p> <p><b>Peter Harris</b> is the Director of Education at Commercial Property Advisors. He has personally mentored hundreds of commercial real estate investors nationwide since 2003. ","hasArticle":false,"_links":{"self":"//dummies-api.coursofppt.com/v2/authors/9462"}},{"authorId":9463,"name":"Peter Harris","slug":"peter-harris","description":" <p><b>Peter Conti</b> bought his first commercial property in 1990. He coaches beginner investors on commercial real estate investment. He founded RealEstate101.com.</p> <p><b>Peter Harris</b> is the Director of Education at Commercial Property Advisors. He has personally mentored hundreds of commercial real estate investors nationwide since 2003. 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He coaches beginner investors on commercial real estate investment. He founded RealEstate101.com.</p> <p><b>Peter Harris</b> is the Director of Education at Commercial Property Advisors. He has personally mentored hundreds of commercial real estate investors nationwide since 2003. <p><b>Peter Conti</b> bought his first commercial property in 1990. He coaches beginner investors on commercial real estate investment. He founded RealEstate101.com.</p> <p><b><b data-author-id=\"9463\">Peter Harris</b></b> is the Director of Education at Commercial Property Advisors. He has personally mentored hundreds of commercial real estate investors nationwide since 2003.</p>","authors":[{"authorId":9462,"name":"Peter Conti","slug":"peter-conti","description":" <p><b>Peter Conti</b> bought his first commercial property in 1990. He coaches beginner investors on commercial real estate investment. He founded RealEstate101.com.</p> <p><b>Peter Harris</b> is the Director of Education at Commercial Property Advisors. He has personally mentored hundreds of commercial real estate investors nationwide since 2003. ","hasArticle":false,"_links":{"self":"//dummies-api.coursofppt.com/v2/authors/9462"}},{"authorId":9463,"name":"Peter Harris","slug":"peter-harris","description":" <p><b>Peter Conti</b> bought his first commercial property in 1990. He coaches beginner investors on commercial real estate investment. He founded RealEstate101.com.</p> <p><b>Peter Harris</b> is the Director of Education at Commercial Property Advisors. He has personally mentored hundreds of commercial real estate investors nationwide since 2003. ","hasArticle":false,"_links":{"self":"//dummies-api.coursofppt.com/v2/authors/9463"}}],"_links":{"self":"//dummies-api.coursofppt.com/v2/books/"}},"collections":[],"articleAds":{"footerAd":"<div class=\"du-ad-region row\" id=\"article_page_adhesion_ad\"><div class=\"du-ad-unit col-md-12\" data-slot-id=\"article_page_adhesion_ad\" data-refreshed=\"false\" \r\n data-target = \"[{&quot;key&quot;:&quot;cat&quot;,&quot;values&quot;:[&quot;business-careers-money&quot;,&quot;personal-finance&quot;,&quot;investing&quot;,&quot;real-estate&quot;]},{&quot;key&quot;:&quot;isbn&quot;,&quot;values&quot;:[&quot;9781119858485&quot;]}]\" id=\"du-slot-63221b2b2ecce\"></div></div>","rightAd":"<div class=\"du-ad-region row\" id=\"article_page_right_ad\"><div class=\"du-ad-unit col-md-12\" data-slot-id=\"article_page_right_ad\" data-refreshed=\"false\" \r\n data-target = \"[{&quot;key&quot;:&quot;cat&quot;,&quot;values&quot;:[&quot;business-careers-money&quot;,&quot;personal-finance&quot;,&quot;investing&quot;,&quot;real-estate&quot;]},{&quot;key&quot;:&quot;isbn&quot;,&quot;values&quot;:[&quot;9781119858485&quot;]}]\" id=\"du-slot-63221b2b2f62e\"></div></div>"},"articleType":{"articleType":"Cheat Sheet","articleList":[{"articleId":154598,"title":"Ways to Mitigate Risk in Commercial Real Estate Investments","slug":"ways-to-mitigate-risk-in-commercial-real-estate-investments","categoryList":["business-careers-money","careers","real-estate-careers","general-real-estate-careers"],"_links":{"self":"//dummies-api.coursofppt.com/v2/articles/154598"}},{"articleId":154599,"title":"Myths and Questions about Investing in Commercial Real Estate","slug":"myths-and-questions-about-investing-in-commercial-real-estate","categoryList":["business-careers-money","careers","real-estate-careers","general-real-estate-careers"],"_links":{"self":"//dummies-api.coursofppt.com/v2/articles/154599"}},{"articleId":154600,"title":"Commercial Real Estate Due Diligence","slug":"commercial-real-estate-due-diligence","categoryList":["business-careers-money","careers","real-estate-careers","general-real-estate-careers"],"_links":{"self":"//dummies-api.coursofppt.com/v2/articles/154600"}}],"content":[{"title":"Commercial real estate terms you should know","thumb":null,"image":null,"content":"<p>Here are some terms you need to know as you develop your knowledge of commercial real estate:</p>\n<ul>\n<li><strong>Gross income: </strong>Gross income is all your income, including rents, laundry or vending machine income, and late fees. It can be monthly or annual.</li>\n<li><strong>Vacancy: </strong>A vacancy is any unit that is left unoccupied and is not producing income. <strong>Note</strong>: A unit that is vacated and re-rented in the same month is not considered a vacancy; it is considered a<em> turnover.</em></li>\n<li><strong>Vacancy rate: </strong>The number of vacancies divided by the number of units: vacancy rate (%) = total vacant units @@ds # of total units</li>\n<li><strong>Effective gross income: </strong>Gross income minus vacancy: effective gross income = income – (vacancy rate % @@ts income)</li>\n<li><strong>Operating expenses: </strong>Annual operating expenses of the property, which typically include taxes, insurance, utilities, management fees, payroll, landscaping, maintenance, and repairs. This does not include mortgage payments or interest expense.</li>\n<li><strong>Net operating income (NOI): </strong>Effective gross income minus operating expenses: net operating income = effective gross income – operating expenses</li>\n<li><strong>Debt service: </strong>Monthly mortgage amount times 12 months: debt service = monthly mortgage amount @@ts 12</li>\n<li><strong>Cash flow: </strong>Net operating income minus debt service: annual cash flow = net operating income – debt service monthly cash flow = annual cash flow @@ds 12</li>\n<li><strong>Cash-on-cash return: </strong>Annual cash flow divided by down payment amount: cash-on-cash return = annual cash flow @@ds down payment</li>\n<li><strong>Capitalization rate: </strong>Net operating income divided by the sales price. Also known as the <em>cap rate,</em> it is the measure of profitability of an investment. Cap rates tell you how much you’d make on an investment if you paid all cash for it; financing and taxation are not included. cap rate = net operating income @@ds sales price</li>\n</ul>\n"},{"title":"How a real estate deal is closed","thumb":null,"image":null,"content":"<p>These steps in this big-picture view helps you understand how a deal is closed:</p>\n<ol>\n<li>The buyer makes an offer to purchase and, if the seller likes the offer, the seller accepts and signs it.</li>\n<li>The buyer opens escrow with an escrow/title company or attorney and sends in-earnest money as a deposit to the escrow holder.</li>\n<li>The buyer starts the financing process with his lender and sends necessary documents to the lender to qualify both the property and himself (and his partners).</li>\n<li>The buyer does his due diligence (such as reviewing the property’s financial statements and other property-related information as set forth in the contract) and does a physical inspection of the property.</li>\n<li>The buyer examines the title and removes contract contingencies.</li>\n<li>The buyer and seller satisfy any remaining obligations as set forth in the contract.</li>\n<li>The buyer finalizes the loan with the lender by getting an official letter of commitment from the lender.</li>\n<li>The buyer reviews the closing statement and finalizes any final closing instructions with the escrow company.</li>\n<li>On closing day, the buyer signs the closing paperwork with the escrow company and makes a down payment.</li>\n<li>The deed is recorded, monies are disbursed, and the seller gets the keys.</li>\n</ol>\n"},{"title":"Physical due diligence checklist","thumb":null,"image":null,"content":"<p><em>Due diligence</em> is the process of “doing your homework” on the property that you’re thinking about buying as an investment. When investors consider <em>physical</em> due diligence, they need to do more than a simple walk-through of the property with an inspector. Walk-throughs are a part of physical due diligence, but only a tiny part of it. Ask the seller for the following items:</p>\n<ul>\n<li><strong>Site plans and specifications: </strong>This group of documents includes all of the construction documents, building plans and schematics, floor plans, and use of the land documents.</li>\n<li><strong>Photos of the property:</strong> Photos of the exteriors, interiors, and the surrounding land and structures should be taken.</li>\n<li><strong>A structural inspection: </strong>Inspect the walls, roofs, and foundation, and make sure there are implements in place for earthquake safety.</li>\n<li><strong>An interior systems inspection:</strong> Inspect the interior of the property for wear and tear, including items such as doors, windows, and weatherproofing. Then inquire about the age of the roof, any building code violations, its federal compliance, and site improvements.</li>\n<li><strong>A mechanical and electrical inspection:</strong> Make sure that every mechanical and electrical system is inspected. Such systems include heating, ventilation, air conditioning, plumbing systems, and all electrical power systems and controls.</li>\n<li><strong>A list of capital improvements performed:</strong> Obtain receipts and documents for any capital improvements that were made. Collect these for any improvements over the past five years.</li>\n<li><strong>A pest inspection:</strong> On some types of building, an inspection for pests, such as termites, may take place. Most apartment buildings have this inspection done as part of a lender requirement.</li>\n</ul>\n"},{"title":"Financial due diligence checklist","thumb":null,"image":null,"content":"<p>The financial aspect of due diligence focuses on why you’re buying the property. It helps ensure that you make money by verifying the seller records of the property’s financial performance. To perform successful financial due diligence, be sure to obtain the following from the seller:</p>\n<ul>\n<li><strong>Income and expense statements:</strong> You should at least obtain annual income and expense statements for the past three years. Also, get all of last years’ monthly profit and loss statements and review the balance sheet for the past three years.</li>\n<li><strong>Rent rolls: </strong>A <em>rent roll</em> is essentially an attendance sheet for all of the tenants. It displays the tenant’s name, unit space, amount of rent paid, move-in date, lease expiration date, and security deposit.</li>\n<li><strong>Tax returns: </strong>Obtain the property’s tax returns for the past three years. Add up all of the income and expenses shown on the tax returns. These numbers should match those from the seller’s income and expense statements.</li>\n<li><strong>Lease agreements:</strong> A lease agreement can be a complex legal document. If all of the leases are the same, such as in an apartment building, have an attorney review the first few to make sure they’re valid. For every other category of commercial real estate, we suggest verifying the leases by using an <em>estoppel letter.</em> This letter confirms that the lease is true and accurate and is the only agreement that’s made between the tenant and the owner.</li>\n<li><strong>Utility bills:</strong> Obtain the past two years’ worth of actual utility bills for the property. These bills include electricity, gas, water, sewer, trash, telephone, cable, and internet service bills. Compare the totals of each utility category to the seller’s total given on the expense statements.</li>\n<li><strong>Property tax bills: </strong>Obtain the past two years’ worth of property tax bills. Verify the amounts with those given on the seller’s expense statements.</li>\n</ul>\n"},{"title":"Legal due diligence checklist","thumb":null,"image":null,"content":"<p>Legal due diligence can be pretty extensive, and checking on the items in this list takes a team effort. Here are the items that you need to ask the seller for:</p>\n<ul>\n<li><strong>An environmental inspection:</strong> The environmental inspection most often used is called a Phase One Environment Site Assessment. During this inspection the inspector explores the past use of the property and the surrounding area, looking for onsite and offsite environmental problems and liabilities.</li>\n<li><strong>A survey and title inspection:</strong> With this inspection, a title company can verify the property size and that the title report has the same description as the survey. You can also review any easements or encroachments on the property that could drastically affect its value and use.</li>\n<li><strong>An inspection for building code violations:</strong> If a new building code causes a violation to occur after a building is built, it’s called <em>non-conforming use,</em> and is considered to be grandfathered in.</li>\n<li><strong>The zoning code:</strong> Every property has a specific use permitted. For example, a property can be zoned as residential or commercial. So, you need to review the city’s zoning ordinances to make sure that the property’s use complies with what it’s legally zoned for. If it’s used illegally, the property can be shut down.</li>\n<li><strong>The insurance policy: </strong>The property’s insurance policy can be a treasure trove of information if you can get the claims history.</li>\n<li><strong>Licenses, permits, or certificates:</strong> Oftentimes you’re required to post business licenses, permits, or certificates. Make sure that you’re proactive in notification of new ownership to avoid hefty fines.</li>\n<li><strong>Service and vendor contracts:</strong> Review all service and vendor contracts to make sure that you have the right to choose or discontinue the services. These types of services may include, among others, laundry machine servicing, maintenance and landscaping. Keep record of any equipment warranties and guarantees.</li>\n<li><strong>A personal property inventory:</strong> Obtain a list of all personal items, such as equipment, tools, computers, furniture, supplies, and appliances that are to remain behind with the new owner. Document all these personal items in writing or consider them gone.</li>\n<li><strong>Any police reports:</strong> Determine past and current police reports by calling the local police department or reviewing online crime statistics. Review the type and frequency of calls to the property. Know what’s going on before you buy.</li>\n</ul>\n"}],"videoInfo":{"videoId":null,"name":null,"accountId":null,"playerId":null,"thumbnailUrl":null,"description":null,"uploadDate":null}},"sponsorship":{"sponsorshipPage":false,"backgroundImage":{"src":null,"width":0,"height":0},"brandingLine":"","brandingLink":"","brandingLogo":{"src":null,"width":0,"height":0},"sponsorAd":"","sponsorEbookTitle":"","sponsorEbookLink":"","sponsorEbookImage":{"src":null,"width":0,"height":0}},"primaryLearningPath":"Advance","lifeExpectancy":"Two years","lifeExpectancySetFrom":"2023-03-08T00:00:00+00:00","dummiesForKids":"no","sponsoredContent":"no","adInfo":"","adPairKey":[]},"status":"publish","visibility":"public","articleId":207720},{"headers":{"creationTime":"2017-03-26T07:09:29+00:00","modifiedTime":"2023-03-07T21:38:37+00:00","timestamp":"2023-09-14T18:19:21+00:00"},"data":{"breadcrumbs":[{"name":"Business, Careers, & Money","_links":{"self":"//dummies-api.coursofppt.com/v2/categories/34224"},"slug":"business-careers-money","categoryId":34224},{"name":"Personal Finance","_links":{"self":"//dummies-api.coursofppt.com/v2/categories/34273"},"slug":"personal-finance","categoryId":34273},{"name":"Investing","_links":{"self":"//dummies-api.coursofppt.com/v2/categories/34288"},"slug":"investing","categoryId":34288},{"name":"Real Estate","_links":{"self":"//dummies-api.coursofppt.com/v2/categories/34299"},"slug":"real-estate","categoryId":34299}],"title":"Addressing 10 Common Real Estate Investing Misconceptions","strippedTitle":"addressing 10 common real estate investing misconceptions","slug":"addressing-10-common-real-estate-investing-misconceptions","canonicalUrl":"","快速搜字段擎提高提升":{"metaDescription":"Buying a home is most people's first foray into the world of real estate. However, real estate can also be a good place to invest your money and see a profit. M","noIndex":0,"noFollow":0},"content":"Buying a home is most people's first foray into the world of real estate. However, real estate can also be a good place to invest your money and see a profit. More people invest in the stock market than invest in real estate (beyond the home in which they live). Some reasons for this are due to misconceptions. These misconceptions also cause some investors to see less-than-stellar returns on their real estate investments.\r\n\r\nHere are common real estate misconceptions followed by why they are wrong:\r\n<ul class=\"level-one\">\r\n \t<li>\r\n<p class=\"first-para\"><b>You need to be wealthy.</b> Although it's true that you need money to play the game of investing in real estate (for a down payment), you don't need millions or even hundreds of thousands of dollars to get started. A five-figure ($10,000+) savings balance provides a point of entry into good investment properties.</p>\r\n</li>\r\n \t<li>\r\n<p class=\"first-para\"><b>You need to be a high-income earner.</b> So often in the news we hear about the Donald Trumps and other big-income earners as the ones making big bucks investing in real estate. But there's no reason you need a million-dollar-plus income to invest successfully in property. You don't even need a $100,000+ income. Many folks begin investing in real estate while earning modest wages or salaries.</p>\r\n</li>\r\n \t<li>\r\n<p class=\"first-para\"><b>You need to have connections and know the \"right\" people.</b> You should certainly have a team of competent real estate professionals and contractors and suppliers, but anyone can assemble such a squad.</p>\r\n</li>\r\n \t<li>\r\n<p class=\"first-para\"><b>You need to be lucky to make big money.</b> A little bit of luck is always welcome of course, but the key to making money with real estate investing is to do your homework. Find the right property in the right location, acquire that property at a fair price, and successfully manage all of your properties well over time.</p>\r\n</li>\r\n \t<li>\r\n<p class=\"first-para\"><b>It doesn't matter who you rent your property to as long as you keep the property occupied.</b> Real estate investors often overlook or downplay the importance of tenant selection. Properly preparing the property to attract the most qualified prospective tenants and then targeting your advertising to that target market are the first two steps to increasing your odds of finding a qualified tenant. You want to look for tenants who will stay for the long term, treat your property with care and respect, and essentially make your mortgage payments for you and build up your equity.</p>\r\n</li>\r\n \t<li>\r\n<p class=\"first-para\"><b>It's not worth investing in real estate unless you buy can a large property.</b> False! Most people who invest in real estate get started with small, less costly properties. Bigger and more expensive properties typically come many years down the road.</p>\r\n</li>\r\n \t<li>\r\n<p class=\"first-para\"><b>The collapse in real estate prices before and during the 2008 financial crisis shows real estate isn't a good investment. </b>Real estate, like stocks and other ownership-type investments, goes through cycles. But if you do your homework and buy solid properties at fair prices and manage them well over time, you should earn solid returns. Also, keep in mind that values of different types of properties in various locations don't all move in lockstep.</p>\r\n</li>\r\n \t<li>\r\n<p class=\"first-para\"><b>The best way to make money in real estate is to buy and flip properties, especially if you can renovate them.</b> Holding a property for a relatively short period of time ensures that your transaction costs of buying and then selling will consume a large portion or even all of your profits. Also, your profits may end up being taxed at higher tax rates for shorter holding periods.</p>\r\n</li>\r\n \t<li>\r\n<p class=\"first-para\"><b>Once you own several properties, you can enjoy sitting back while the profits roll in.</b> Wrong! Managing rental properties and doing it well takes time and resourcefulness. There are no shortcuts, especially if you want to avoid unpleasant surprises and make the most of your properties.</p>\r\n</li>\r\n \t<li>\r\n<p class=\"first-para\"><b>You should always buy small properties to add to your holdings and continue to manage these multiple rentals.</b> Acquiring small properties to begin your real estate investing career certainly makes sense, and you can do quite well over many years. But at some point, you should seriously consider selling some of the smaller properties and consolidating your real estate holdings into larger properties.</p>\r\n<p class=\"child-para\">Take the equity you have built up over time in the small properties and use it to purchase medium to larger properties. By selling several smaller properties and buying a larger one, you can take advantage of the economies of scale that a larger property offers. With larger properties, either you can manage them or you can hire professional management if you want to avoid the day-to-day headaches often associated with tenants, maintenance, and upkeep.</p>\r\n</li>\r\n</ul>","description":"Buying a home is most people's first foray into the world of real estate. However, real estate can also be a good place to invest your money and see a profit. More people invest in the stock market than invest in real estate (beyond the home in which they live). Some reasons for this are due to misconceptions. These misconceptions also cause some investors to see less-than-stellar returns on their real estate investments.\r\n\r\nHere are common real estate misconceptions followed by why they are wrong:\r\n<ul class=\"level-one\">\r\n \t<li>\r\n<p class=\"first-para\"><b>You need to be wealthy.</b> Although it's true that you need money to play the game of investing in real estate (for a down payment), you don't need millions or even hundreds of thousands of dollars to get started. A five-figure ($10,000+) savings balance provides a point of entry into good investment properties.</p>\r\n</li>\r\n \t<li>\r\n<p class=\"first-para\"><b>You need to be a high-income earner.</b> So often in the news we hear about the Donald Trumps and other big-income earners as the ones making big bucks investing in real estate. But there's no reason you need a million-dollar-plus income to invest successfully in property. You don't even need a $100,000+ income. Many folks begin investing in real estate while earning modest wages or salaries.</p>\r\n</li>\r\n \t<li>\r\n<p class=\"first-para\"><b>You need to have connections and know the \"right\" people.</b> You should certainly have a team of competent real estate professionals and contractors and suppliers, but anyone can assemble such a squad.</p>\r\n</li>\r\n \t<li>\r\n<p class=\"first-para\"><b>You need to be lucky to make big money.</b> A little bit of luck is always welcome of course, but the key to making money with real estate investing is to do your homework. Find the right property in the right location, acquire that property at a fair price, and successfully manage all of your properties well over time.</p>\r\n</li>\r\n \t<li>\r\n<p class=\"first-para\"><b>It doesn't matter who you rent your property to as long as you keep the property occupied.</b> Real estate investors often overlook or downplay the importance of tenant selection. Properly preparing the property to attract the most qualified prospective tenants and then targeting your advertising to that target market are the first two steps to increasing your odds of finding a qualified tenant. You want to look for tenants who will stay for the long term, treat your property with care and respect, and essentially make your mortgage payments for you and build up your equity.</p>\r\n</li>\r\n \t<li>\r\n<p class=\"first-para\"><b>It's not worth investing in real estate unless you buy can a large property.</b> False! Most people who invest in real estate get started with small, less costly properties. Bigger and more expensive properties typically come many years down the road.</p>\r\n</li>\r\n \t<li>\r\n<p class=\"first-para\"><b>The collapse in real estate prices before and during the 2008 financial crisis shows real estate isn't a good investment. </b>Real estate, like stocks and other ownership-type investments, goes through cycles. But if you do your homework and buy solid properties at fair prices and manage them well over time, you should earn solid returns. Also, keep in mind that values of different types of properties in various locations don't all move in lockstep.</p>\r\n</li>\r\n \t<li>\r\n<p class=\"first-para\"><b>The best way to make money in real estate is to buy and flip properties, especially if you can renovate them.</b> Holding a property for a relatively short period of time ensures that your transaction costs of buying and then selling will consume a large portion or even all of your profits. Also, your profits may end up being taxed at higher tax rates for shorter holding periods.</p>\r\n</li>\r\n \t<li>\r\n<p class=\"first-para\"><b>Once you own several properties, you can enjoy sitting back while the profits roll in.</b> Wrong! Managing rental properties and doing it well takes time and resourcefulness. There are no shortcuts, especially if you want to avoid unpleasant surprises and make the most of your properties.</p>\r\n</li>\r\n \t<li>\r\n<p class=\"first-para\"><b>You should always buy small properties to add to your holdings and continue to manage these multiple rentals.</b> Acquiring small properties to begin your real estate investing career certainly makes sense, and you can do quite well over many years. But at some point, you should seriously consider selling some of the smaller properties and consolidating your real estate holdings into larger properties.</p>\r\n<p class=\"child-para\">Take the equity you have built up over time in the small properties and use it to purchase medium to larger properties. By selling several smaller properties and buying a larger one, you can take advantage of the economies of scale that a larger property offers. With larger properties, either you can manage them or you can hire professional management if you want to avoid the day-to-day headaches often associated with tenants, maintenance, and upkeep.</p>\r\n</li>\r\n</ul>","blurb":"","authors":[{"authorId":8975,"name":"Eric Tyson","slug":"eric-tyson","description":" <p><b>Eric Tyson, MBA,</b> is a renowned finance counselor, syndicated columnist, and author of numerous bestselling financial titles.</p> <p><b>Tony Martin, B.Comm,</b> is a nationally-recognized personal finance, speaker, commentator, columnist, management trainer, and communications consultant. He is the co-author of <i>Personal Finance For Canadians For Dummies</i>.</p>","hasArticle":false,"_links":{"self":"//dummies-api.coursofppt.com/v2/authors/8975"}},{"authorId":8976,"name":"Ray Brown","slug":"ray-brown","description":" <p><b>Eric Tyson, MBA,</b> is the author of <i>Investing For Dummies, Personal Finance For Dummies,</i> and <i>Investing in Your 20s and 30s For Dummies</i>. <b>Ray Brown,</b> a real estate professional for more than 40 years, is the best&#45;selling co&#45;author of <i>Home Buying For Dummies</i>. ","hasArticle":false,"_links":{"self":"//dummies-api.coursofppt.com/v2/authors/8976"}}],"primaryCategoryTaxonomy":{"categoryId":34299,"title":"Real Estate","slug":"real-estate","_links":{"self":"//dummies-api.coursofppt.com/v2/categories/34299"}},"secondaryCategoryTaxonomy":{"categoryId":0,"title":null,"slug":null,"_links":null},"tertiaryCategoryTaxonomy":{"categoryId":0,"title":null,"slug":null,"_links":null},"trendingArticles":null,"inThisArticle":[],"relatedArticles":{"fromBook":[],"fromCategory":[{"articleId":291208,"title":"Foreclosure Investing For Dummies Cheat Sheet","slug":"foreclosure-investing-for-dummies-cheat-sheet","categoryList":["business-careers-money","personal-finance","investing","real-estate"],"_links":{"self":"//dummies-api.coursofppt.com/v2/articles/291208"}},{"articleId":274970,"title":"How Home Ownership Can Help You Achieve Financial Goals","slug":"how-home-ownership-can-help-you-achieve-financial-goals","categoryList":["business-careers-money","personal-finance","investing","real-estate"],"_links":{"self":"//dummies-api.coursofppt.com/v2/articles/274970"}},{"articleId":274965,"title":"Simple, Profitable Real Estate Investments","slug":"simple-profitable-real-estate-investments","categoryList":["business-careers-money","personal-finance","investing","real-estate"],"_links":{"self":"//dummies-api.coursofppt.com/v2/articles/274965"}},{"articleId":266690,"title":"Public and Private Real Estate Investment Trusts","slug":"public-and-private-real-estate-investment-trusts","categoryList":["business-careers-money","personal-finance","investing","real-estate"],"_links":{"self":"//dummies-api.coursofppt.com/v2/articles/266690"}},{"articleId":266683,"title":"How to Qualify Property Inspectors for Real Estate Investments","slug":"how-to-qualify-property-inspectors-for-real-estate-investments","categoryList":["business-careers-money","personal-finance","investing","real-estate"],"_links":{"self":"//dummies-api.coursofppt.com/v2/articles/266683"}}]},"hasRelatedBookFromSearch":false,"relatedBook":{"bookId":0,"slug":null,"isbn":null,"categoryList":null,"amazon":null,"image":null,"title":null,"testBankPinActivationLink":null,"bookOutOfPrint":false,"authorsInfo":null,"authors":null,"_links":null},"collections":[],"articleAds":{"footerAd":"<div class=\"du-ad-region row\" id=\"article_page_adhesion_ad\"><div class=\"du-ad-unit col-md-12\" data-slot-id=\"article_page_adhesion_ad\" data-refreshed=\"false\" \r\n data-target = \"[{&quot;key&quot;:&quot;cat&quot;,&quot;values&quot;:[&quot;business-careers-money&quot;,&quot;personal-finance&quot;,&quot;investing&quot;,&quot;real-estate&quot;]},{&quot;key&quot;:&quot;isbn&quot;,&quot;values&quot;:[null]}]\" 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id=\"du-slot-63221b2954b9d\"></div></div>"},"articleType":{"articleType":"Articles","articleList":null,"content":null,"videoInfo":{"videoId":null,"name":null,"accountId":null,"playerId":null,"thumbnailUrl":null,"description":null,"uploadDate":null}},"sponsorship":{"sponsorshipPage":false,"backgroundImage":{"src":null,"width":0,"height":0},"brandingLine":"","brandingLink":"","brandingLogo":{"src":null,"width":0,"height":0},"sponsorAd":"","sponsorEbookTitle":"","sponsorEbookLink":"","sponsorEbookImage":{"src":null,"width":0,"height":0}},"primaryLearningPath":"Explore","lifeExpectancy":"Two years","lifeExpectancySetFrom":"2022-12-10T00:00:00+00:00","dummiesForKids":"no","sponsoredContent":"no","adInfo":"","adPairKey":[]},"status":"publish","visibility":"public","articleId":138529},{"headers":{"creationTime":"2023-03-01T17:49:36+00:00","modifiedTime":"2023-03-01T17:50:32+00:00","timestamp":"2023-09-14T18:19:18+00:00"},"data":{"breadcrumbs":[{"name":"Business, Careers, & Money","_links":{"self":"//dummies-api.coursofppt.com/v2/categories/34224"},"slug":"business-careers-money","categoryId":34224},{"name":"Personal Finance","_links":{"self":"//dummies-api.coursofppt.com/v2/categories/34273"},"slug":"personal-finance","categoryId":34273},{"name":"Investing","_links":{"self":"//dummies-api.coursofppt.com/v2/categories/34288"},"slug":"investing","categoryId":34288},{"name":"Real Estate","_links":{"self":"//dummies-api.coursofppt.com/v2/categories/34299"},"slug":"real-estate","categoryId":34299}],"title":"Foreclosure Investing For Dummies Cheat Sheet","strippedTitle":"foreclosure investing for dummies cheat sheet","slug":"foreclosure-investing-for-dummies-cheat-sheet","canonicalUrl":"","快速搜字段擎提高提升":{"metaDescription":"This Cheat Sheet will get you up to speed in a hurry on foreclosure investing and help you steer clear of some of the major pitfalls.","noIndex":0,"noFollow":0},"content":"Foreclosure investing is complicated and risky. I’ve seen individual investors lose tens of thousands of dollars at a single auction simply because they had no idea what they were doing. You’re smart to study up on the process before putting any money on the line.\r\n\r\nThis Cheat Sheet will get you up to speed in a hurry on foreclosure investing and help you steer clear of some of the major pitfalls. However, I strongly encourage you to study up on the foreclosure process in the location (state and county) where you choose to invest, and hire an attorney with foreclosure experience to cover your back, at least for your first few investment properties.","description":"Foreclosure investing is complicated and risky. I’ve seen individual investors lose tens of thousands of dollars at a single auction simply because they had no idea what they were doing. You’re smart to study up on the process before putting any money on the line.\r\n\r\nThis Cheat Sheet will get you up to speed in a hurry on foreclosure investing and help you steer clear of some of the major pitfalls. However, I strongly encourage you to study up on the foreclosure process in the location (state and county) where you choose to invest, and hire an attorney with foreclosure experience to cover your back, at least for your first few investment properties.","blurb":"","authors":[{"authorId":9133,"name":"Ralph R. Roberts","slug":"ralph-r-roberts","description":" <p><B>Ralph R. Roberts</b> has been investing in foreclosed properties for over 30 years. He knows every step of the process, from scouting properties to cashing out after the sale, from helping distressed homeowners keep their homes to buying those homes when the owners can no longer afford them. He also has assisted homeowners who have been taken advantage of by unscrupulous investors.</p> ","hasArticle":false,"_links":{"self":"//dummies-api.coursofppt.com/v2/authors/9133"}},{"authorId":8993,"name":"Joseph Kraynak","slug":"joseph-kraynak","description":" <p><b>Kenneth W. Boyd</b> has 30 years of experience in accounting and financial services. He is a four&#45;time Dummies book author, a blogger, and a video host on accounting and finance topics. 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Boyd</b> has 30 years of experience in accounting and financial services. He is a four&#45;time Dummies book author, a blogger, and a video host on accounting and finance topics. <p><B>Ralph R. Roberts</b> has been investing in foreclosed properties for over 30 years. He knows every step of the process, from scouting properties to cashing out after the sale, from helping distressed homeowners keep their homes to buying those homes when the owners can no longer afford them. He also has assisted homeowners who have been taken advantage of by unscrupulous investors.</p> <p><B><b data-author-id=\"9133\">Ralph R. Roberts</b></b> has been investing in foreclosed properties for over 30 years. He knows every step of the process, from scouting properties to cashing out after the sale, from helping distressed homeowners keep their homes to buying those homes when the owners can no longer afford them. He also has assisted homeowners who have been taken advantage of by unscrupulous investors.</p>","authors":[{"authorId":8993,"name":"Joseph Kraynak","slug":"joseph-kraynak","description":" <p><b>Kenneth W. Boyd</b> has 30 years of experience in accounting and financial services. He is a four&#45;time Dummies book author, a blogger, and a video host on accounting and finance topics. ","hasArticle":false,"_links":{"self":"//dummies-api.coursofppt.com/v2/authors/8993"}},{"authorId":34819,"name":"Kyle Roberts","slug":"kyle-roberts","description":" <p><B>Ralph R. Roberts</b> has been investing in foreclosed properties for over 30 years. He knows every step of the process, from scouting properties to cashing out after the sale, from helping distressed homeowners keep their homes to buying those homes when the owners can no longer afford them. He also has assisted homeowners who have been taken advantage of by unscrupulous investors.</p> ","hasArticle":false,"_links":{"self":"//dummies-api.coursofppt.com/v2/authors/34819"}},{"authorId":9133,"name":"Ralph R. Roberts","slug":"ralph-r-roberts","description":" <p><B>Ralph R. Roberts</b> has been investing in foreclosed properties for over 30 years. He knows every step of the process, from scouting properties to cashing out after the sale, from helping distressed homeowners keep their homes to buying those homes when the owners can no longer afford them. He also has assisted homeowners who have been taken advantage of by unscrupulous investors.</p> ","hasArticle":false,"_links":{"self":"//dummies-api.coursofppt.com/v2/authors/9133"}}],"_links":{"self":"//dummies-api.coursofppt.com/v2/books/"}},"collections":[],"articleAds":{"footerAd":"<div class=\"du-ad-region row\" id=\"article_page_adhesion_ad\"><div class=\"du-ad-unit col-md-12\" data-slot-id=\"article_page_adhesion_ad\" data-refreshed=\"false\" \r\n data-target = \"[{&quot;key&quot;:&quot;cat&quot;,&quot;values&quot;:[&quot;business-careers-money&quot;,&quot;personal-finance&quot;,&quot;investing&quot;,&quot;real-estate&quot;]},{&quot;key&quot;:&quot;isbn&quot;,&quot;values&quot;:[&quot;9781119860983&quot;]}]\" id=\"du-slot-63221b26c8693\"></div></div>","rightAd":"<div class=\"du-ad-region row\" id=\"article_page_right_ad\"><div class=\"du-ad-unit col-md-12\" data-slot-id=\"article_page_right_ad\" data-refreshed=\"false\" \r\n data-target = \"[{&quot;key&quot;:&quot;cat&quot;,&quot;values&quot;:[&quot;business-careers-money&quot;,&quot;personal-finance&quot;,&quot;investing&quot;,&quot;real-estate&quot;]},{&quot;key&quot;:&quot;isbn&quot;,&quot;values&quot;:[&quot;9781119860983&quot;]}]\" id=\"du-slot-63221b26c9071\"></div></div>"},"articleType":{"articleType":"Cheat Sheet","articleList":[{"articleId":0,"title":"","slug":null,"categoryList":[],"_links":{"self":"//dummies-api.coursofppt.com/v2/articles/"}}],"content":[{"title":"Foreclosure investing preflight checklist","thumb":null,"image":null,"content":"<p>Before you place a bid or make an offer on a property, perform your due diligence and be prepared. In addition to having financing in place to cover the cost of purchase, holding costs, and repair and renovation expenses, create a file that contains the following items:</p>\n<ul>\n<li>Copy of foreclosure notice or notice of default, if available.</li>\n<li>The title commitment and 24-month history in the chain of title or the minimum last two recorded documents.</li>\n<li>A copy of the deed with the current homeowners’ names.</li>\n<li>The last recorded first mortgage, so you know how much the homeowners currently owe on the property.</li>\n<li>Full knowledge of all liens (financial claims) against the property, including property tax liens.</li>\n<li>A map showing the location of the property.</li>\n<li>Your exterior home inspection notes, photos of the house from all views, including from across the street, and neighborhood photos.</li>\n<li>The city worksheet on the property showing the history of any major renovations, inspection reports, or other details about the property.</li>\n<li>MLS listings of comparable properties that have recently sold or are currently for sale.</li>\n<li>Copy of the tax bills and notes on whether they are paid up or delinquent.</li>\n<li>The SEV (Standard Equalized Value) of the property, on which property taxes are based.</li>\n<li>Notes from meetings with homeowners, assuming you contacted them prior to foreclosure.</li>\n</ul>\n"},{"title":"Step-by-step investing in pre-foreclosures","thumb":null,"image":null,"content":"<p>Purchasing a home directly from the homeowners prior to the foreclosure auction often delivers the best deals, often because you’re not buying blind and you know exactly what you’re buying.</p>\n<p>The following list provides a brief overview of what can be a very complex process:</p>\n<ol>\n<li>Line up the financing required to make a cash offer on the property.</li>\n<li>Obtain a lead on a property either by word-of-mouth networking or reading the foreclosure listings in the county’s legal publication.</li>\n<li>Visit and inspect the property with your own two eyes.</li>\n<li>Research recent sales prices of comparable properties in the area.</li>\n<li>Research the property thoroughly, especially the title work.</li>\n<li>Establish contact with the homeowners by way of an in-person visit, phone call, or letter.</li>\n<li>Meet with the homeowners (if possible) and gather as much pertinent information as possible. Obtain written permission to contact the lien holders.</li>\n<li>Present all options to the homeowners.</li>\n<li>Work with the homeowners and lien holders to negotiate a compromise that addresses the needs of all parties @@md you, the homeowners, and the lenders.</li>\n<li>Present a purchase offer to the homeowners.</li>\n<li>Close on the property.</li>\n</ol>\n"},{"title":"Steps for buying properties at foreclosure auctions","thumb":null,"image":null,"content":"<p>Bidding on and buying properties at foreclosure auctions sounds easy enough, but doing it successfully often requires several weeks of preparation and a detailed follow-through.</p>\n<p>The following list provides a basic step-by-step overview of the process:</p>\n<ul>\n<li>Attend four or five auctions to get acclimated to the bidding process and determine the proof of financing and other conditions required to bid at auctions.</li>\n<li>Line up the financing required to make a cash offer on the property.</li>\n<li>Identify a potential investment property in the foreclosure listings in the county’s legal publication. Track the listing weekly all the way up to the date of the foreclosure auction, including adjournments.</li>\n<li>Visit and inspect the property with your own two eyes and take photos.</li>\n<li>Research recent sales prices of comparable properties in the area.</li>\n<li>Order the title work on the property from your local title company and review the document thoroughly.</li>\n<li>Obtain and review property records from the city or county.</li>\n<li>Contact the foreclosing attorney several days prior to the scheduled auction date. (The attorney’s name and contact information are on the foreclosure notice.) Find out whether:\n<ul>\n<li>The attorney has an assistant you should contact in the future.</li>\n<li>The property is still going to be auctioned.</li>\n<li>An opening bid has been set and, if so, the amount.</li>\n<li>They are considering an adjournment.</li>\n</ul>\n</li>\n<li>Drive by the home a few hours before the auction and take new photos of the property if its condition has changed significantly. (If the house has burned down, you may end up buying ashes.)</li>\n<li>If you decide to bid on the property, obtain a cashier’s check for the amount of the opening bid.</li>\n<li>Organize your property file for the foreclosure auction.</li>\n<li>Set the absolute maximum amount you can afford to bid on the property to ensure a 20 percent or better return on your investment in excess of all estimated costs, including holding costs (interest, insurance, property taxes, homeowner association fees, and so on for the duration of the project).</li>\n<li>Attend the foreclosure auction and bid on the property, if desired, being careful not to bid in excess of your predetermined maximum.</li>\n<li>If you offer the winning bid, do the following as soon as possible:\n<ul>\n<li>Pay any balance remaining on the bid amount.</li>\n<li>Record the deed.</li>\n<li>Obtain an insurance policy for the property and record an affidavit for the amount paid.</li>\n<li>Pay any property taxes owed on the property and record an affidavit for the amount paid.</li>\n</ul>\n</li>\n<li>If your area has a mandatory redemption period, do the following:\n<ul>\n<li>Send a letter to the homeowners explaining what happened at the mortgage sale, the options you can offer, and their redemption rights, and warn them of other investors who may try to take advantage of them.</li>\n<li>If you bid more than required to pay off the liens, let the homeowners know that they can claim the overbid money and where to go to claim it.</li>\n<li>Establish contact with the homeowners, if possible, to smooth the change of ownership.</li>\n<li>Wait until the redemption period expires.</li>\n</ul>\n</li>\n<li>Encourage the homeowners to move out or proceed with an 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