The Home Buyer's Advisor A Handbook for First-Time Buyers and Second-Home Investors

by McLean, Andrew James

• ISBN13: 9780471466413
• ISBN10: 0471466417
• Edition: 1st
• Format: Paperback
• Copyright: 2004-02-16
• Publisher: WILEY

Summary

The tax-smart guide for first-time buyers and second-home investors Whether you're a first-time home buyer or a seasoned investor, this practical guide covers everything you need to know to invest safely, confidently, and profitably in today's real estate market-while getting the most out of the latest tax laws. The Home Buyer's Advisor shows you precisely what to look for in a real estate investment, where to find the best buying opportunities, how to use proven holding strategies such as land-banking and lease options, and how to make your home a secure foundation for future real estate investments. Ideas for a secure retirement are also included. Packed with ideas, strategies, and real-world examples, Andrew McLean's Home Buyer's Advisor will show you how to: * Take advantage of a wide range of financing methods, such as originating new VA, FHA, and conventional loans; loan assumption; wrap-around loans; and other alternative financing methods * Hunt for bargain properties using the Internet * Profit from HUD and VA repossessions and bank foreclosures, and bid for property at special auctions * Use professional appraisal techniques to ensure you're getting the best value for your investment * Utilize smart investment strategies and holding techniques * Manage properties without all the hassles * Minimize, defer, and transfer more of your tax liability * And much more!

Author Biography

ANDREW JAMES McLEAN is the coauthor of the Wiley bestseller Investing in Real Estate, which has sold more than 100,000 copies. He is currently an active investor in the Las Vegas and Mississippi Gulf Coast real estate markets. He holds a BA in business administration from Michigan State University.

Table of Contents

ACKNOWLEDGMENTS.

INTRODUCTION.

PART I: THE PRELIMINARIES.

CHAPTER 1: Why Buying a Home Is a Great Investment.

CHAPTER 2: Basic Guidelines for Successful Home Buying.

PART II: FINANCE 101—HOW TO GET THE MONEY YOU NEED.

CHAPTER 3: The Mortgage Alternatives.

CHAPTER 4: Getting Financing.

PART III: CHOOSING THE IDEAL HOUSE.

CHAPTER 5: Which House Is Right for You?

CHAPTER 6: The Resale House.

CHAPTER 7: Other Home Choices.

PART IV: TEAM MEMBERS, GUIDELINES, AND VALUATION.

CHAPTER 8: Selecting Your Real Estate Team.

CHAPTER 9: Key Guidelines to Making a Superior Investment.

CHAPTER 10: Appraisal—How to Determine Value.

PART V: THE SOURCES.

CHAPTER 11: Where to Find Your Diamond in the Rough.

CHAPTER 12: How to Buy Foreclosures.

CHAPTER 13: How to Buy HUD Homes and VA Repossessions.

PART VI: THE MIDDLE GAME.

CHAPTER 14: How to Negotiate a Winning Deal.

CHAPTER 15: Protecting Your Home.

CHAPTER 16: The Closing and Escrow.

CHAPTER 17: Wise Things to Do after You Buy.

CHAPTER 18: Fixing Up the Fixer-Upper.

PART VII: THE END GAME.

CHAPTER 19: Profitable Holding Strategies.

CHAPTER 20: Property Management.

CHAPTER 21: Selling Your Property.

CHAPTER 22: Pay Less Tax.

CHAPTER 23: Advanced Investment Strategies: Your Second Property, and Beyond.

APPENDIX A: USEFUL FORMS.

APPENDIX B: WEB SITES.

BIBLIOGRAPHY.

INDEX.