Buying U.S. Real Estate by Dolan, Richard -- Read -- Imperial Library of Trantor

Index

Cover Praise For Buying US Real Estate Title Page Copyright Foreword Introduction

Your Life's Intent: Applying the Right Mindset to Investing in Real Estate Capitalizing on US Opportunities Don't Confuse Lifestyle with Investment A Longer-Term Strategy

Part I: The Decision to Invest

Insight 1: The Economics Behind the US Market

What Trends Are Driving This Opportunity? No Income, No Assets, No Worries! How Big Is the Foreclosure Market? The US Economic Recovery New-Home Construction The Rental Explosion Prime Property Will Be in Hot Demand

Insight 2: Finding the Treasure with the Property Goldmine Scorecard

An Important Tool for Real Estate Investors Property Goldmine Scorecard

Insight 3: Let Quality Research Drive the System

Getting Quality Information from the Internet and Other Sources

Insight 4: Dig for Specific Information and Ignore Generalities

The Market Today and Tomorrow

Insight 5: Jobs, Infrastructure, and Gentrification

Signs of Potential Economic Growth Business-Friendly Policies Are Vital Trains, Planes, Automobiles: Infrastructure Matters Gentrification and Renewal

Insight 6: A Closer Look at Three States

Florida Arizona Texas

Part II: The Distressed Property Market

Insight 7: Learn to Identify a Distressed Property

What Causes Distress Volume Sellers South of the Border Resist the Temptation to Think You're Different What's Behind the Discount? So, There's Money to Be Made

Insight 8: Understand the Fundamentals of the US Foreclosure Process

Foreclosure Defined

Insight 9: Commit to the Number One Rule, Then Get Your Options Straight

Three Ways to Buy What to Remember about Foreclosures

Insight 10: More on Due Diligence

Five Market Fundamentals An Extra Word on Vacancy Rates More Market Facts

Insight 11: Avoid the Snake-Oil Salesman

There's No Such Thing as ‘Leading’ or ‘Only’ Experts Lender Scams Housing Rip-Offs

Insight 12: Recognize That a Bad Area in the United States Is Very Different from a Bad Area Elsewhere

Define Your Bad Area Be Realistic Know What You Need to Know Weigh Risks and Returns

Insight 13: Look for the Stability of a Good Neighborhood and Follow First-Time Homebuyers

The Benefits of Market Stability What's Your Investment Plan? A Final Word of Caution

Insight 14: Choose Your Exit Strategy Before You Make the Deal

Identify Your Exit Strategy Wholesale and Fix-and-Flip Options Pick Your Partners Carefully Choose an Exit Strategy That Makes Money

Insight 15: Know Your Financing Options and Obstacles

Portfolio Loans Private Money Leverage Your Canadian Successes

Insight 16: Understand the Real Estate Cycle

What Is the Real Estate Cycle? Boom, Slump, and Recovery Recognizing Cycle Shifts

Insight 17: Find the People Who Can Help You Find Foreclosures

The Not-So-Secret Way to Find Great Real Estate Deals Understand What an Agent Can Do for Your Business Getting an REO Agent's Attention Beyond the REO Check Out the Wholesaler Market Deal Flow A Recipe for Success

Insight 18: Benefit from the Five Profit Centers of Real Estate

Natural Appreciation Forced Appreciation Positive Cash Flow Mortgage Reduction and Leverage Tax Deductions

Insight 19: What a Full-Service Real Estate Investment Group Offers

What Full-Service Real Estate Groups Do Good Full-Service Real Estate Groups Bad Full-Service Real Estate Groups

Insight 20: Analyze Your Deal

Understand the Property's True Potential Cash-Flow Statement And the Final Number Is . . . Checklist for Entering US Real Estate Markets Ask Yourself the Tough Questions

Part III: Renovations and Management

Insight 21: Work Smartly with Contractors and Subcontractors

Five Common-Sense Rules

Insight 22: Weigh Reno Must-Haves with Nice-to-Haves

The Kitchen: Put the Three E's to Work The Bathroom

Insight 23: Dial Up the Intellect (Dial Down the Emotions)

Emotion Versus Passion How Much to Spend Exit Strategy Look and Ask Around

Insight 24: Do the Big Four Renos on a Rental Property—Now

Make Sustainability a Fundamental Priority The Big Four

Insight 25: Get Everything in Writing

The Six Golden Rules of the Written Contract How to Handle Contract Changes Keep It Simple

Insight 26: Curb Appeal: You've Got Seven Seconds to Impress Me

An Exterior Makeover How Much Should You Spend?

Insight 27: Run If You Spot Any of the Top Three Reno Red Flags

Make Sure Your Project Is Efficient Keep the Project Focused on What's Effective Stick to Economical Options The Top Three Reno Red Flags

Insight 28: Hire the Right Property Manager

Zero in on Excellence: Seven Questions to Ask Potential Property Managers

Insight 29: Make Money by Delegating to Your Property Manager

Put Your Money to Work Professional Property Management Pays for Itself

Insight 30: Set the Rules Up Front with Your Property Manager

Get Your Communications Plan in Place Stick to business Use technology wisely

Insight 31: Be Smart about Rent Collection

From Delinquent to Delivered It's All about the Business

Part IV: Cross-Border Tax Planning

Insight 32: Understanding US Tax Laws

Filing a US Tax Return General Guidelines

Insight 33: Taking Title to Your US Property Investments

Limited Liability Corporations Corporations What Options Do Canadian Investors Have? US Estate Tax Gift Tax

Insight 34: Deal with Depreciation

Depreciation Recapture

Insight 35: Limit Your US Taxation if You're a Canadian Snowbird

Residence Rules Renting Out Your Property Selling Your Property Gain: Filing Requirements Foreign Tax Credit Estate Taxes Review US Estate Tax Plans

Part V: Legal Planning

Insight 36: The Three Pillars of Real Estate Asset Protection

The Three Pillars of Asset Protection Learn What Asset Protection Is and Isn't Perform Due Diligence

Insight 37: Develop an Asset Protection Plan and Be Prepared to Avoid Lawsuits

Case 1: The Vexatious Litigant Case 2: The Cyclist Case 3: The Toppling Toddler Case 4: The Weekend Getaway Stay Out of Court by Being Prepared

Insight 38: Counter Threats to Your Wealth with Foresight

The Top Threats to Your Wealth

Insight 39: Draw Up a Blueprint for Your Estate Plan

Probate Adopt a Plan

Insight 40: Steer Clear of Asset Protection Fakes, Scams, and Planning Errors

Land Trusts Limited Liability Companies Understand Your Strategy: Probate versus Credit Protection Offshore Trusts and IBCs Homestead Exemption Transferring Assets to Family Members

Part VI: Cross-Border Banking and Financing

Insight 41: Understand Cross-Border Issues

Overcome Your Citizenship Issues

Insight 42: Familiarize Yourself with US Mortgage Financing

Loan Application Investor Loans

Insight 43: Buy US Real Estate Property with Other People's Money

Begin with People You Know Keep Your Advisors Informed

Part VII: Insurance and Investments

Insight 44: Insure Your Investment

Find an Agent Who Can Shop Around Areas of Coverage Replacement Cost Value and Actual Cash Value Making a Claim Location, Location, Location!

Insight 45: Carry Insurance Beyond the Property Line: Medical, Auto, and Third-Party Liability

Medical Insurance Automobile Insurance Third-Party Liability Insurance

Appendix: Considerations for Buying a Second Home Index About the Authors

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