The Real Estate Investing Guide Just for Agents If you're a real estate agent, your knowledge of the industry can give you a big leg-up when it comes to investing. Insider Investing for Real Estate Agents shows you how to maximize your returns using your special, insider knowledge of listings, local markets, and trends, as well as your connections with local buyers and sellers. In this one-of-a-kind guide, Walter Sanford shows you not only how your experience as an agent can aid your investing, but also how investing can make you a better agent--leading to more customers, listings, and sales. Filled with all the tools you need to combine and improve your skills as an investor and agent, this practical, hands-on resource includes more than 100 handy forms, checklists, and worksheets--all designed to help you make wise decisions, spot bargains, and manage properties with a minimum of risk. Inside, you'll find unbeatable advice on: * Insider tactics for obtaining investment financing * Using your natural advantages as an agent to find great properties * Working honestly and ethically as both an agent and an investor * Tapping into your lead generation skills to invest better * Performing due diligence the way only an agent can * Insider tenant acquisition tactics that really work More and more agents are putting their skills to use in investing--and making it payoff big. If you want to learn how to use your inside knowledge and experience to find and purchase properties with great money-making potential, Insider Investing for Real Estate Agents will put you on course for investing success.

WALTER S. SANFORD sold a house a day for over 23 years and made over a million and a half dollars in commissions a year—for 27 years. However, he made even more money investing in real estate for himself. As one of the top real estate agents in North America, Walter became his own best client, invested in hundreds of properties, and made a fortune by implementing the plan laid out in this book.

Preface

xii

The Insider's Buckets

1

(2)

How I Became a Real Estate Agent and an Insider Real Estate Investor

3

(4)

Then Came 1979 . . .

5

(2)

Insiders Have a Down Payment Machine

7

(13)

Form 3.1 Bucket One Investments: A Planning Exercise

14

(6)

The Real Estate Agent's Insider Advantages and Fiduciary Responsibilities

20

(5)

Insiders Have the Time to Find High-Quality Investment Properties

25

(8)

Combining Investing with Seller Lead Generation in Your Brokerage Business

33

(3)

Brokers and Agents: Buyers Are Bad; Insiders: Buyers Are Good

36

(3)

Insider Terms

39

(3)

Insider Net Income Analysis

42

(6)

Form 9.1 Income from Building

44

(1)

Form 9.2 Expenses for Property

45

(3)

Your Real Estate Insider Team

48

(4)

More Insider Investing Tactics

52

(2)

Insider Negotiating

54

(18)

Form 12.1 Loan Questionnaire

62

(2)

Form 12.2 Insider Financing Checklist

64

(1)

Form 12.3 Agreement of Sale Checklist

65

(3)

Form 12.4 Facts about Your Buyer

68

(2)

Form 12.5 Seller's Net Sheet: Estimated Proceeds on Sale or Exchange of Property

70

(2)

Doing the Due Diligence as Only an Insider Can

72

(39)

Form 13.1 Inspection Kit

75

(1)

Form 13.2 Building Inspection Checklist

76

(30)

Form 13.3 Tenant Questions Prior to Investment

106

(1)

Form 13.4 Tenancy Estoppel Statement

107

(2)

Form 13.5 Market Rent Survey

109

(2)

Insider Questions That Will Help You Make Money

111

(2)

Insider Closing Strategies

113

(24)

Items That Require Attention before Closing

113

(3)

More Insider Closing Strategies

116

(4)

Form 15.1 Closing Checklist

120

(8)

Form 15.2 Cover Letter to Closing Problem Checklist

128

(1)

Form 15.3 Closing Problem Checklist

129

(6)

Form 15.4 Items to Take to Your Closing

135

(2)

Setting Up Your Insider Ownership Paperwork

137

(21)

Insider Ownership Paperwork

138

(1)

Completing Your Property Summary Folder

139

(1)

Form 16.1 Property Summary

140

(4)

Form 16.2 Insurance/Fix Up

144

(2)

Form 16.3 Insurance Coverage Summary

146

(1)

Form 16.4 Residential Investment Analysis Property and Investor Data Summary

147

(2)

Form 16.5 Residential Investment Analysis Before-Tax Financing Analysis

149

(1)

Form 16.6 Residential Investment Analysis Annual Cash Flow after Taxes

150

(1)

Form 16.7 Residential Investment Analysis After-Tax Proceeds from Sale

151

(2)

Form 16.8 Residential Investment Analysis Performance Summary

153

(1)

Form 16.9 Replacement Reserve Worksheet

154

(4)

Insider Tenant Acquisition

158

(2)

Magic Management by an Insider

160

(79)

Promoting Your Rental Property

162

(1)

Checking Staff Performance

163

(1)

Unit Availability

163

(1)

Qualifying Potential Tenants

163

(1)

The Lease Contract

164

(1)

Cosigner Agreements

165

(1)

Waterbed Agreement

165

(1)

Monitoring Parking on Premises

165

(1)

Key Receipts

166

(1)

Tenants with Pets

166

(1)

Safety Precautions

166

(1)

When Tenants Leave

167

(1)

Converting Tenants into Buyers

167

(1)

Managing a Move-Out

168

(1)

Unit Make-Ready Report

168

(1)

Keeping a Rental Record

168

(1)

Move-Out Instructions

168

(1)

Maintenance of Properties

169

(1)

Forms for Keeping Records

169

(1)

Special Communications for Tenants

169

(1)

Exit Forms

169

(1)

Form 18.1 Owner-Broker Management Agreement

170

(3)

Form 18.2 Insider Traffic Report

173

(3)

Form 18.3 Insider Rental Agent Performance Report

176

(2)

Form 18.4 Unit Availability List

178

(1)

Form 18.5 Rental Inquiry

179

(1)

Form 18.6 Tenant's Personal and Credit Information

180

(4)

Form 18.7 Sanford Systems Lease Contract

184

(8)

Form 18.8 Cosigner Agreement Addendum to Rental Agreement

192

(1)

Form 18.9 Waterbed and/or Liquid-Filled Furniture Agreement

193

(2)

Form 18.10 Vehicle Registration

195

(1)

Form 18.11 Key Receipt

196

(1)

Form 18.12 Lease Agreement for Pet Owners

197

(1)

Form 18.13 Pool Rules and Regulations

198

(2)

Form 18.14 Application for Lease Renewal

200

(1)

Form 18.15 Buyer Lead Generation to Your Tenant

201

(2)

Form 18.16 Insider Rental Checklist

203

(2)

Form 18.17 Unit Make-Ready Report

205

(2)

Form 18.18 Rental Record

207

(2)

Form 18.19 Move-Out Cleaning Instructions to Tenant

209

(2)

Form 18.20 Notice to Enter Dwelling

211

(1)

Form 18.21 Resident's Maintenance Request

212

(2)

Form 18.22 Time Estimate for Repairs

214

(1)

Form 18.23 Unit Maintenance Record

215

(2)

Form 18.24 Semiannual Safety and Maintenance Update

217

(3)

Form 18.25 Move-In/Move-Out Inspection List

220

(3)

Form 18.26 Property Inspection Report

223

(3)

Form 18.27 Unit Ledger Card

226

(1)

Form 18.28 Tenant Ledger Card

227

(1)

Form 18.29 Monthly Rent Delinquency Report

228

(1)

Form 18.30 Agreement for Partial Rent Payments

229

(1)

Form 18.31 Residential Questionnaire

230

(4)

Form 18.32 Warning Notice (Complaints from Neighborhood/Residents)

234

(1)

Form 18.33 Move-Out Letter

235

(1)

Form 18.34 Exit Interview

236

(2)

Form 18.35 Move-Out Closing Statement

238

(1)

Your Insider Advantages as a Seller

239

(5)

Reasons Insiders Should Not Sell

240

(1)

Form 19.1 Selling Checklist

241

(3)

Other Insider Profits

244

(2)

Do You Have What It Takes to Be an Inside Investor?

246

(5)

Captured Ideas

251

(2)

Index

253

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Insider Investing for Real Estate Agents How to Profit From Your Intimate Knowledge of the Market

9780471988625

0471988626

Supplemental Materials

Summary

Author Biography

Table of Contents

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