Hot Tips for
Real Estate Investors
II. Table of Contents
In the process of buying and
selling property Aqlim learns a lot
of ‘hot tips’, largely by trial and
error. These valuable tips she
passes on to you.
- How Aqlim
bought her first condo (the Visa
card and a family loan...)
- What to
read in order to understand your
local real estate market.
- How to
evaluate the community you are
thinking of investing in. How to
avoid the trendy-overpriced and find
upwardly mobile/growth communities.
- How to
focus. Construct your own investment
strategy: clarify goals and
limitations, find (through
interviews) a first-rate realtor; be
proactive in the search, (use
computer want-ads, cruising, open
houses); secure the down payment and
prequalify for a mortgage. Use a
mortgage broker.
- Eight
ways to raise money to buy property:
reverse mortgages; CMHC assistance;
borrow on your equity; vendor
take-backs; rent with an option to
buy; agreement for sale and ‘wrap-arounds’;
partnerships and the vital “shotgun
clause” to use if one partner wants
to bail out.
- How to
recognize a good deal: the seven
classic scenarios.
-
Blowouts: a lesson in avoiding hype.
- The sad
truth about property disclosure
statements.
- Making
an astute offer: Evaluate the
seller’s position and motivation.
Create your own bargain by making a
low offer. Tips on negotiating.
- Tips on
mortgages: use your rental property
to qualify; for leverage, arrange
long amortizations; make frequent
payments. Save money by
remortgaging.
- How to
furnish and decorate economically a
rentable condo.
-
Tenant-Landlord: how to recognize an
undesirable tenant; how to make up
your own rental agreement and “check
in-check out” forms. Get a
professional’s discount from
tradespeople.
- Overall
strategy: sell when things are
booming. Use the listing-to-sold
ratio. How to employ leverage!
Incorporate and save on taxes.
-
Checklist to use when house hunting:
short and long forms.
- List of
experts consulted.
- Index
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