Close cookie details

This site uses cookies. Learn more about cookies.

OverDrive would like to use cookies to store information on your computer to improve your user experience at our Website. One of the cookies we use is critical for certain aspects of the site to operate and has already been set. You may delete and block all cookies from this site, but this could affect certain features or services of the site. To find out more about the cookies we use and how to delete them, click here to see our Privacy Policy.

If you do not wish to continue, please click here to exit this site.

Hide notification

  Main Nav
Make Money with Condominiums and Townhouses
Cover of Make Money with Condominiums and Townhouses
Make Money with Condominiums and Townhouses
Borrow Borrow

In the Make Money series, renowned real estate investor and bestselling author Gary W. Eldred shows you how to profit from the safest, most reliable wealth builder in the world-real estate. With coverage of all the fundamentals-from finding the right properties to financing and managing them-Eldred shows you the ropes so you don't have to learn important lessons the hard way. Unlike general guides to investing in real estate, each title in the Make Money series gives you the specialized expertise necessary to fully profit from a select investment strategy.

Make Money with Condominiums and Townhouses shows homebuyers and investors how to travel the road to real estate wealth-often with little or nothing down. As an affordable investment vehicle, condominiums and townhouses offer numerous advantages over other types of rental property-they require relatively little day-to-day management, they tend to attract more desirable tenants than other rental properties, and they offer low risk and high returns. Full of time-tested techniques and proven money-making strategies, Make Money with Condominiums and Townhouses will show you how to:

  • Relax while you put your money to work
  • Find properties with high rates of appreciation
  • Evaluate homeowner association finances
  • Choose profitable locations
  • Understand the changing demographics that may affect your investment
  • Finance your properties with little or no money down
  • Achieve positive cash flow quickly
  • Build up equity
  • Understand by-laws, disclosure statements, and management contracts
  • In the Make Money series, renowned real estate investor and bestselling author Gary W. Eldred shows you how to profit from the safest, most reliable wealth builder in the world-real estate. With coverage of all the fundamentals-from finding the right properties to financing and managing them-Eldred shows you the ropes so you don't have to learn important lessons the hard way. Unlike general guides to investing in real estate, each title in the Make Money series gives you the specialized expertise necessary to fully profit from a select investment strategy.

    Make Money with Condominiums and Townhouses shows homebuyers and investors how to travel the road to real estate wealth-often with little or nothing down. As an affordable investment vehicle, condominiums and townhouses offer numerous advantages over other types of rental property-they require relatively little day-to-day management, they tend to attract more desirable tenants than other rental properties, and they offer low risk and high returns. Full of time-tested techniques and proven money-making strategies, Make Money with Condominiums and Townhouses will show you how to:

  • Relax while you put your money to work
  • Find properties with high rates of appreciation
  • Evaluate homeowner association finances
  • Choose profitable locations
  • Understand the changing demographics that may affect your investment
  • Finance your properties with little or no money down
  • Achieve positive cash flow quickly
  • Build up equity
  • Understand by-laws, disclosure statements, and management contracts
  • Available formats-
    • Kindle Book
    • PDF eBook
    Subjects-
    Languages:-
    Copies-
    • Available:
      1
    • Library copies:
      1
    Levels-
    • ATOS:
    • Lexile:
    • Interest Level:
    • Text Difficulty:

    Recommended for you

    About the Author-
    • GARY W. ELDRED, PhD, has been involved in more than a hundred real estate projects as a buyer, seller, or investment consultant. Dr. Eldred has also taught numerous graduate courses in real estate at America's top universities, including Stanford, the University of Virginia, and the University of Illinois. He is also the author of Make Money with Small Income Properties and Make Money with Fixer-Uppers and Renovations, and coauthor of the bestseller Investing in Real Estate, Fourth Edition, all published by Wiley.

    Table of Contents-
    • 1. The Lazy Investor’s Way to Wealth.

      Condominiums Attract Better Tenants.

      Why Condos Attract Better Tenants.

      The One Easy Test: Who’s Moving In, Who’s Moving Out.

      Your Procedures Count, Too!

      Can Investors (Lazy or Not) Really Build Wealth with Condos and Townhouses?

      Why Such Neglect?

      How You Will Profit with Condos.

      Appreciation.

      The Historical Record.

      What Does the Future Hold?

      Summing Up.

      2. Bulls, Bears, and Cash Cows.

      The Mortgage Paydown.

      Wealth without Appreciation.

      Add to Your Principal Payments.

      Certainty over Uncertainty.

      Plan Your Wealth Building: Stocks versus Condos.

      Cash Flow.

      Condo Investors Earn More Cash Flow.

      How to Jump the Hurdle of Negative Cash Flows.

      Shelter Your Cash from the IRS.

      Depreciation.

      Tax-Free Exchanges.

      Homeowners Receive Tax-Free Gains.

      Gain Tax-Free Cash with a Cash-Out Refinance.

      Summing Up.

      3. Get to Know the Development.

      Condo Communities Appeal to Buyers of All Incomes.

      Key Sources of Satisfaction and Dissatisfaction.

      Features and Price.

      Your Best Opportunity.

      Resale Potential.

      Good Buy.

      No Simple Rules.

      Why Stress This Point?

      The HOA.

      The Organizational Structure.

      The Board of Directors.

      Management.

      Committees.

      Attorney and Auditor.

      4. Do the HOA Finances Look Good?

      Undisclosed Leases.

      Sweetheart Contracts.

      Understated HOA Fees.

      The Budget.

      Special Assessments.

      Mandatory Payment.

      “I Don’t Care! I’m Not Paying”.

      HOA Boards Must Follow Specified Procedures and Forms.

      Your Financial Due Diligence: Summing Up.

      How Much Insurance?

      The Lesson of the Oakland-Berkeley Firestorm.

      Any Lawsuits?

      HOA as Plaintiff.

      HOA as Defendant.

      Be Wary of HOAs in Litigation.

      5. What Do Condo Residents Say?

      What Residents Say about Their Condos/ Townhouses.

      Overall Satisfaction.

      Wise Investors Pay Attention to the Negatives (and Positives) of Condo Buildings and Developments.

      What Features Rank Most Important?

      Poor Construction, Careless Workmanship, and Unexpected Repairs and Replacements.

      Government Inspectors Sometimes Fail to Do Their Jobs.

      When Buying an Existing Unit, Check the Resale Package.

      Seller Disclosures.

      Unethical Builders and Sales Reps.

      Sales Rep Disconnect.

      The Documents Control.

      Children: Little Monsters or Little Darlings.

      Potential Problems.

      A Parent Speaks.

      Pets.

      Problems with Renters.

      Should You Buy into a Project That’s Heavy with Renters?

      Exercise Investor Responsibility.

      6. More Likes and Dislikes of Community Living.

      Density.

      People per Unit.

      Project Density versus Unit Crowding.

      Multiple Visits/Curb Appeal.

      Unit Location.

      Perimeter or Interior Building Site.

      Why Underprice Preferred Locations?

      Downhill or Uphill?

      Sight, Sound, and Smell.

      Unit Features and Design.

      Uniform versus Uniformly Beautiful.

      Unit Size.

      Livability.

      Recreational Amenities.

      Will Tenants Pay Higher Rents?

      What If Tenants Pay and Play?

      What to Do?

      Security.

      I Love “Lock and Leave”.

      Play It Safe: Ask!

      Summing Up: Likes and Dislikes.

      7. Understand the Bylaws.

      Rules Create Value.

      No Supply Because There’s No Demand.

      Choose the Right HOA for You.

      What Will You Find in the Resale Package?

      Creating Value within a Context of Fairness.

      The Condo Bylaws.

      Meetings of Members (Article III).

      Board of Directors (Articles IV–VI).

      Power and Duties (Article VII).

      Association Officers and Duties (Article VIII).

      Committees, Records, Assessments, and Seal (Articles IX–XII).

      The Amendment Process (Article XIII).

      Summing Up.

      8....

    Reviews-
    • Miami Herald, October 8, 2003 "...But if you know nothing about finding, buying and selling property or little about finance...author Gary Eldred is your guy."
    • USA TODAY, October 20, 2003
      Gary W. Eldred, in his Make Money With Condominiums and Townhouses, differs from those get-rich-quick types who imply that all it takes to be a landlord-tycoon is creative financing and chutzpah.

      Real estate can be rewarding, but you have to do your homework. Lots of it. This is where Eldred - a Realtor who has taught at Stanford University and the University of Illinois and co-wrote the thorough Investing in Real Estate with Andrew McLean - comes in.

      How do you choose the right condo or town house? The due diligence you have to exercise is considerable. When you are negotiating to buy a unit, the seller has to show you legal and financial documents about the homeowner's association. Read them closely. A homeowner's association that is in financial trouble is more likely to levy special assessments on homeowners to cover deficits or pay for maintenance or repairs.

      Other questions: Does the association carry enough insurance? Is it suing or being sued? (Guess who'll pay the legal bills.) Know that sellers and Realtors must disclose any serious defects of a property that they are aware of.

      Does a condo development have too many renters? That could harm property values. How do you evaluate unit location, density, size (measurement errors happen frequently), livability, security, parking, amenities and so forth? If your eyes glaze over at all the detail Eldred provides, you may not be cut out to be a real estate investor.

      Why invest in condos and town houses? Because in many areas, single-family homes have become too expensive relative to the rental income they can bring.

      Eldred gives a good overview of what you need to know before you plunge into the exciting (but perilous) world. Read Make Money With Condominiums in conjunction with his earlier book, Investing in Real Estate, for more insight into how to find bargains and obtain financing from less-known channels.
    Title Information+
    • Publisher
      Wiley
    • Kindle Book
      Release date:
    • PDF eBook
      Release date:
    Digital Rights Information+
    • Copyright Protection (DRM) required by the Publisher may be applied to this title to limit or prohibit printing or copying. File sharing or redistribution is prohibited. Your rights to access this material expire at the end of the lending period. Please see Important Notice about Copyrighted Materials for terms applicable to this content.

    Status bar:

    You've reached your checkout limit.

    Visit your Checkouts page to manage your titles.

    Close

    You already have this title checked out.

    Want to go to your Checkouts?

    Close

    Recommendation Limit Reached.

    You've reached the maximum number of titles you can recommend at this time. You can recommend up to 3 titles every 7 day(s).

    Close

    Sign in to recommend this title.

    Recommend your library consider adding this title to the Digital Collection.

    Close

    Enhanced Details

    Close
    Close

    Limited availability

    Availability can change throughout the month based on the library's budget.

    is available for days.

    Once playback starts, you have hours to view the title.

    Close

    Permissions

    Close

    The OverDrive Read format of this eBook has professional narration that plays while you read in your browser. Learn more here.

    Close

    Holds

    Total holds:


    Close

    Restricted

    Some format options have been disabled. You may see additional download options outside of this network.

    Close

    You've reached your library's checkout limit for digital titles.

    To make room for more checkouts, you may be able to return titles from your Checkouts page.

    Close

    Excessive Checkout Limit Reached.

    There have been too many titles checked out and returned by your account within a short period of time.

    Try again in several days. If you are still not able to check out titles after 7 days, please contact Support.

    Close

    You have already checked out this title. To access it, return to your Checkouts page.

    Close

    This title is not available for your card type. If you think this is an error contact support.

    Close

    An unexpected error has occurred.

    If this problem persists, please contact support.

    Close

    Close

    NOTE: Barnes and Noble® may change this list of devices at any time.

    Close
    Buy it now
    and help our library WIN!
    Make Money with Condominiums and Townhouses
    Make Money with Condominiums and Townhouses
    Gary W. Eldred
    Choose a retail partner below to buy this title for yourself.
    A portion of this purchase goes to support your library.
    Clicking on the 'Buy It Now' link will cause you to leave the library download platform website. The content of the retail website is not controlled by the library. Please be aware that the website does not have the same privacy policy as the library or its service providers.
    Close
    Close

    There are no copies of this issue left to borrow. Please try to borrow this title again when a new issue is released.

    Close
    Barnes & Noble Sign In |   Sign In

    You will be prompted to sign into your library account on the next page.

    If this is your first time selecting “Send to NOOK,” you will then be taken to a Barnes & Noble page to sign into (or create) your NOOK account. You should only have to sign into your NOOK account once to link it to your library account. After this one-time step, periodicals will be automatically sent to your NOOK account when you select "Send to NOOK."

    The first time you select “Send to NOOK,” you will be taken to a Barnes & Noble page to sign into (or create) your NOOK account. You should only have to sign into your NOOK account once to link it to your library account. After this one-time step, periodicals will be automatically sent to your NOOK account when you select "Send to NOOK."

    You can read periodicals on any NOOK tablet or in the free NOOK reading app for iOS, Android or Windows 8.