Building wealth one house at a time
Contents
Introduction
1 How Buying One House at a Time Can Make You Wealthy
2 Buying the House That Will Make You the Most Money
3 Real Estate Bubbles, Crashes, and Cycles
4 Finding Opportunities That Others Miss
5 Knowing What a House Is Worth Before You Make an Offer
6 Knowing How You Are Going to Pay for a House Before You Buy
7 What Makes Some Debt Dangerous, and How to Borrow Safely
8 Borrowing Without Going to a Bank
9 Attracting and Using Investor Money to Increase Your Profits
10 Using a Real Estate Contract to Your Advantage
11 Making the Offer
12 Secrets of Professional Negotiators
13 Buying and Selling with Agents
14 Buying and Selling Houses to Produce Cash Flow—Today
15 Selling on Lease/Options to Generate Larger Profits
16 Finding and Buying Preforeclosures and Foreclosures
17 Attracting and Training Long-Term, Low Maintenance Tenants
18 Knowing When to Sell and How to Sell
19 Getting Your Houses Free and Clear
20 Making It Big on Little Deals
21 THE FULLER CENTER FOR HOUSING: Helping Others Build Wealth One House at a Time
Index
About the Author
Introduction
ens of thousands of ordinary people have made millions of dollars investing in the most humble of real estate investments, the single-family house. I am one of them, and I have a unique perspective because I have helped thousands of others make their first million by buying houses.
Buying, renting, and selling houses is not only highly profitable but also helps people in your community. By treating people fairly, you develop a reputation for helping others, and many will refer their friends and family to you when they need to sell, buy, or rent.
By providing a supply of decent, affordable housing, you help young families live near their work while they save enough to buy their own homes. When you buy a house from someone who needs to get rid of it, you relieve him of a burden. When you sell a house and finance it, you often can help someone buy their first home.
Many ordinary people are now millionaires not by winning the lottery but by systematically buying houses. Rather than put their trust in a company pension plan or the government,they have taken control of their financial destiny. By doing what they have done, you can change your life, become financially independent, and be in control of your financial future. It takes less time than you think. Simply follow the advice in this book.
You don’t need a lot of education to make a lot of money in real estate. It’s not that complicated. In fact, too much education can cause you to overthink and develop analysis paralysis.
The one thing that keeps most people poor is the fear of buying that first house. Some of my most successful students have taken a year or more to buy their first house. That’s fine,as long as you buy it. The second house will be easier, and as you get better at it, you will really enjoy the process of finding and buying a good deal.
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