Getting Started in Rental Income

by Thomsett, Michael C.

• ISBN13: 9780471710981
• ISBN10: 0471710989
• Edition: 1st
• Format: Paperback
• Copyright: 2005-06-16
• Publisher: Wiley

Summary

An accessible introduction to GENERATING RENTAL INCOME FROM REAL ESTATEGETTING STARTED IN RENTAL INCOMEJust as location is a critical component to the value of real estate, knowledge is a critical component to investing success. As with any type of new endeavor, gaining knowledge and experience is essential as you move forward toward success.If you're interested in generating rental income through an investment in real estate, but unsure of how to go about doing this, Getting Started in Rental Income will show you the way. Written in a straightforward and accessible manner, this book discusses the two major ways of entering the rental income market-the traditional purchase of rental properties or buying and selling fixer-upper properties-and reveals what you need to do once you're in. This easy-to-read guide clearly explains how to: Invest in the right properties Generate cash flow adequate to make insurance, tax, utility, and monthly mortgage payments as well as to allow for periodic vacancies Make a profit from flipping properties Take advantage of the tax benefits of real estate Implement specific strategies-beyond diversification-to mitigate real estate risk And much more Furthermore, Getting Started in Rental Income also identifies the pitfalls and market risks of this field, as well as the personal aspects of becoming involved in rental income. If you're interested in generating income through real estate and want to learn how, this book has all the answers.

Author Biography

Michael C. Thomsett is a financial writer who has published more than sixty books on investing, real estate, business, and management topics. He is the author of several Wiley books, including Getting Started in Six Sigma, J.K. Lasser's Real Estate Investing, and Getting Started in Options, now in its sixth edition. Prior to his writing career, Thomsett was a professional accountant and systems consultant.

Table of Contents

Introduction: A Market with Profit Potential.

PART I: APPROACHING THE MARKET.

Chapter 1. The Traditional Approach – Buy, Hold, Hold a While Longer, Sell.

Chapter 2. Financial Aspects – Keeping the Cash Flowing.

Chapter 3. Fixer Upper Alternatives – The Flipping Market .

Chapter 4. The Fixer Upper Property – Abused Homes with Potential.

Chapter 5. The Combo – Long Term and Fixer-Upper Portfolios.

PART II: RENTAL INCOME INVESTMENT PLANNING STRATEGIES. 

Chapter 6. Cash Flow First Aid – Stop the Bleeding, Do CPR.

Chapter 7. Taxing Matters – Inevitable but Advantageous.

Chapter 8. Risky Business and Rewarding Business – Comparisons.

Chapter 9. Diversification and Allocation – Many Baskets and Many Eggs.

Chapter 10. A Long-Term Investment View.

Glossary.

Index.