I am looking for a real estate book that covers off on everything I need to know about purchasing a house for both personal use and profit. Would prefer it to be up to date to cover off on any recent trends. Also, while I want it to go through the basics, I don't want a "Real Estate for Dummies" book. If the basics and the advanced cant be covered in one book, multiple book selections would be appreciated.
2006-08-25 14:52:45 · 3 answers · asked by PowerWheelchairMan 2 in Business & Finance ➔ Renting & Real Estate
You would do well to connect with a savy real estate broker. They will guide you thru the process, even help with getting vendors at discounts to do some of the work you can't. They will help you buy properties that will make you money and avoid those you can not. No book can teach you that, and the market is constantly changing. By the time it is in print in a magazine, the magazine is out of date. Imagine how dated books are by the time they are ready for print!
Get a full broker who deals with this type of property. Bear in mind that if you buy and sell in less than a year the tax rate is what ever your normal tax rate is. To qualify for long term cap gain rate (15%) requires you hold it 12 months and a day. A licensed broker has access to the real estate market and knows the resale opportunities of a given area. The right one will make you money. Interview several and ask their level of expertise with this type of property.
2006-08-25 18:32:07 · answer #1 · answered by hithere2ya 5 · 0⤊ 0⤋
Like you, I searched for an all-inclusive book and just didn't come up with it... BUT I found a solution. I went to my local library and checked out all the real estate books on the shelf... and then I ordered another dozen or so from other libraries affiliated with mine. I then browsed those books... making my own outline... determining what I really wanted to know and discarding material that wasn't relevant to buying real estate. What I learned in a nutshell is to by the dumpiest house in an established neighborhood, fix it up, and resale for a profit or rent.
2006-08-25 15:25:20 · answer #2 · answered by Mike S 7 · 1⤊ 0⤋
I'm a loan consultant. I can answer quesitons you might have. You can email me usmachau@yahoo.com or AIM me usmachau
2006-08-25 18:35:13 · answer #3 · answered by ruguy2004 1 · 0⤊ 0⤋