Robert_T._Kiyosaki: The Real Book of Real Estate

490 INDEX

subdivision of, 176–177 resources for, 274–275 asset protection, C cor-
vision for, 179 as selling, 266–267 poration v., 113–115,
Land trusts shopping centers, cost 114–115 (fig.)
asset protection and,
impacting, 420–421 asset protection, tenants
120–121, 120–121 (fig.) tenants and types of, in common v. TiC
costs of, 128 with, 112
LLC and, 121 264
transfer title to, 128–129 term length and, 269 asset segregation for,
Landscape architect, variables in, 269–272 124–125, 124–125
vision for, 267 (fig.)
237–238 Leasing agent/advisor
Laundry rooms hiring, 274 charging order and,
location knowledge of, 122–123
strategy for, 284
trends in, 38 273 costs of, 126
Lawyers personal rapport with, land trusts and, 121
dispute prevention and, living trusts and, 120
273 LP compared to, 121–122
155 working relationship transfer title to, 126–128,
due diligence and, 155,
with, 272–273 127 (fig.)
227 LEED. See Leadership in See also How to Use Lim-
permitting/zoning and,
Energy and Environ- ited Liability Compa-
180 mental Design nies and Limited
See also Litigation Legal due diligence, 160–161 Partnerships; Series
Legal review, 226–227 LLCs
lawyers Lender’s survey, 362–363 Limited partnership
Layout, 269–270 Letter of intent (LOI) (LP), 113
Laziness, 468–469 multiple offers and, charging order and,
Leadership in Energy and 320–321 122–123
purchase of agreement LLC compared to,
Environmental Design based on, 361 121–122
(LEED), 247–248 purpose of, 360 See also How to Use
Lease option Leverage Limited Liability
buyer v. seller benefits equity marketing and, Companies and
in, 314–315, 315 (table), 396–397 Limited Partnerships
318 (table) properties and, 192 Lincoln, Abe, 177
buyer/seller possibilities real estate, power of, 7–8 Listening, 320
for, 316 See also Negative lever- Litigation
defining, 314 age arbitration compared to,
example of, 316–317 Leveraged buyout, 307–308 165–166
profit form, 317 Levine, Bill, 177 costs of, 167
resources for, 319 Liability disputes and, 166–167
risks and, 315 assets compared to, 468 See also Online litigation
Leasing hazardous substance checks
challenges of, 268–269 site assessment engi- Litigation lawyers
creativity for, 265 neer and, 44–45 costs of, 162
location and, 271–272 increasing, 16 disputes and, 161–162
marketing and, 265–266 Lifecycle costs, 245 Living trusts
ownership and, 271 Limited liability company asset protection and,
parking and, 270 (LLC) 118–119
pricing and, 267–268 asset protection and, 24 LLC and, 120
property management’s
importance in, 263

INDEX 491

probate avoidance and, shopping centers im- for marketing, 267
119–120 pacted by vitality of, Marketing
419–420
LLC. See Limited liability investing and, 329–330
company LOI. See Letter of intent leasing and, 265–266
Long Term Occupancy market study for, 267
Loan package pre-foreclosure invest-
borrowing, importance (LTO), 104
of, 139 Long-term lease, 217–218 ing, strategy for, 337
preparing, 139–141 (fig.)
“out” for, 218 See also Equity market-
Loans Lotzar, Chuck ing
background check for, Mastering your universe
86 biography of, 52 driving for, 91–93
banks and, 84 Kiyosaki, Kim, working experience and, 106
difficulties with, 46 in real estate, 91
insurance agent and, 47 with, 445–446 Math, 178–180
qualifying for, 85–86 working relationship Mathis, Ann, 7
short-term v. long-term, McCallister, Ross
86–87 with, 29–30 biography of, 88
single-tenant property LP. See Limited partnership working relationship
and, 443 LTO. See Long Term Occu- with, 71–72
See also Private lenders McCune, Walker, 176
pancy McElroy, Ken, 71–72
Loan-to-value ratios LTVs. See Loan-to-value biography of, 289
(LTVs), 65 experience of, 278–280
ratios vision of, 448
Location Luck working relationship
challenges with, 211 with, 276–277
counting heads for fast- due diligence and, 228 McPherson, Scott D.
food restaurants and, property management biography of, 232, 261
207 education of, 252–253
creativity for, 212–213 and, 286 wisdom of, 222–223,
customer accessibility Lump sum contract, 81 251–252
and, 212 Meals, 25–26
customer convenience Management Mechanical engineer, 80
and, 213–214 of deals, 215 Mediation
deal analysis mistakes importance of, 239 costs of, 164
with, 213 travel problems for deals for disputes, 164–165
development and, 76–77 and, 215–217 process of, 163
due diligence for, 76 See also Project manager; Mediator, 163–165
fast-food restaurants im- Property management; Mentors, 473
pacted by, 205–206 Property management finding, 478
graffiti impacting, 94 company Metrics, 17
leasing agent/advisor, Mice, 357–358
knowledge of, 273 Manoil, Mark, 389 Mission, 10–11
leasing and, 271–272 Maps, 140 Mixed use real estate, 188
mistakes in choosing, 214 Mardian, Robert, Jr., 213 MLS. See Multiple Listing
observing, 91–92 Market needs Service
obstructions and, Monetary wealth, 56
208–209 important questions for,
shopping centers and, 181–182
415–416
product creation and, 175
Market niche

development basics of,
75

understanding, 76
Market study, 231

492 INDEX

Money, perceptions of, rezoning, input from, 179 personal story of,
56–57 warning signs for declin- 186–187

See also Other People’s ing, 96 Objectivity, 204–205
Money See also Community Obstructions, 208–209
Neighbors Occupancy, 283–284
Morality, 331 agreements favoring, 436 Offshore strategies
Mormon values, 5, 371 complaints of, 344
Mortgage broker history and, 344–345 asset protection and,
influence evolution of, 116–117 (fig.),
challenges facing, 46–47 116–118
experience and, 47 343–344
financing with, 259–260 internet and, 345 real estate and, 115–116
hiring, 46, 260 politics and, 345–346 taxes and, 115
Motivation, 327 presenting plans to, 366 180-day replacement
Multifamily asset class, 100 properties, impact of, 343
Multifamily housing talking to, 367 period, 300
customer questions for, See also “Not in My Back O’Neill, Tip, 345
Online banking, 17
242–243 Yard” Online litigation checks,
preparing, 243 Net lease, 264
Multiple Listing Service Net operating income 158
Online valuation services,
(MLS), 312 (NOI), 20
Multiple offers occupancy and, 283–284 310
other revenue opportu- On-site superintendent,
LOI and, 320–321
strategy of, 320 nities for, 284 82
property management Operating
National Council of Ex-
changors (NCE), 394 and, 281 activities, 18
property value and, development, selling v.,
NCE. See National Council
of Exchangors 282–283 74
rentals and, 282–283 Operating statement, 140
Negative leverage, 20 sales price from cap rate OPM. See Other People’s
Negotiating
and, 193–194 Money
attorney, problems with, NIMBY’s. See “Not in My Opportunity
437
Back Yard” challenges with, 59
compromising for, 320 NOI. See Net operating filter for, 60–61
flipping and, 321 immigrants and, 58
importance, 319, 459 income modern conveniences
improving, 362 Nonessential contingencies,
power of, 460–461 and, 58–59
selling and, 321 320 in USA, 57–58
Neighborhood groups Nonvehicular access, 43 Ordinances, 347
befriending, 352 “Not in My Back Yard” Other People’s Money
politics and, 349–350
Neighborhoods (NIMBY’s), 344 (OPM), 138
changes in, 95–96 befriending, 352–353 creativity and, 308
downhill, 94 development with, 363 leveraged buyout and,
drive guide for, 97 (fig.)
evaluating, 96, 98 Oakes, Curtis 307–308
observing, 92 biography of, 199 risk and, 144
community improve- Ownership
ment of, 184 control v., 359
tax liens, researching,

383
tax liens, risks for,

382–383, 383 (table)

INDEX 493

Palmer, Wayne Phase I hazardous sub- example for, 338
biography of, 70, 151, 408 stance site contamina- finder strategies for,
childhood of, 134–135, tion study, 44–45,
391–392 364 331–332
creativity of, 53–54, homeowner attraction
133–134, 390–391 Phase II study, 44–45,
on father’s legacy, 407 364 for, 334–335
success story of, 149–150 Internet used for,
trust and, 54, 391 Phased contracts, 40
Physical review 336–337
Parking marketing strategy for,
details and, 427 costs and, 225
leasing and, 270 due diligence and, 224 337 (table)
shopping centers and, Pigéon, Jean Paul, morality and, 331
418–419 recorded messages and,
395–396
Partnerships, 24 Planning commissions 333
advice for, 311–312 referrals and, 337–338
agreements for, 312 development density resources for, 339–340
investors compared to, and, 357 Pricing, 267–268
311 See also Fixed price
mistakes with, 412 motives of, 351
politics and, 350 contract; Guaranteed
“Path of growth,” 93 Planning staff, 349 maximum price
Patience Polish, Joe, 326 contract; Sales price
Politics Privacy, 120–121
for deals, 203 appointed boards/neigh- Private capital, 68
entitlement and, 352 Private financing
investing and, 447 borhood groups in, buyer benefits for, 64–65
real estate market and, 349–350 debt and, 65
as career, 345 defining, 64
95 city council in, 350–351 example for, 66
Trump, Donald and, defining, 349 seller benefits for, 65
entitlement and, Private lenders, 84
456–457 342–343 Private notes, 64–65
vision and, 448–449 entitlement, relation- Pro forma numbers,
Pay raises, 460 ships in, 347–348 206–207
PEI. See Professional Edu- importance of under- Probate avoidance, 119–120
standing, 342 Problem deals
cation Institute neighbors influencing, disputes and, 159–160
Performance, 278, 282 345–346 problem people and, 160
planning commissions Problem people
See also “Specific per- in, 350 disputes and, 158–159
formance” planning staff in, 349 problem deals and, 160
promises and, 348 rentals and, 283
Performance and payment real estate and, 341–342 Problem property
bond, 50 time/tact in, 351 identifying, 189–190
utilizing, 368 property management
Permanent loan, 87 Positive cash flow, 192 mistakes with,
Permitting Power, 338–339 279–280
Preferred residential zon- upside of, 185
green buildings and, 249 ing, 176 Problems
lawyers for, 180 Pre-foreclosure investing asset protection, joint
Perseverance, 169 classified sections and, tenancy and, 111
Personal guaranties, 336

217–218
Personal investment prefer-

ences, 373
Personal residence, 294

494 1031 exchange, identify- INDEX
ing, 299
dealing with, 197–198 importance of, 226, 271
profit from, 185, 199 tenant types in, 188 trust and, 287
Product creation trends and, 194–195 Property owned for devel-
important questions for, types of, 188
See also Investment opment, 294
181–182 Property report, 22 (table)
market needs and, 175 property; Problem Property value
Professional Education property; Single-
tenant property; cap rate and, 282
Institute (PEI), 306 Undervalued cash flow and, 263
Profit properties NOI and, 282–283
Property acquisition invest- performance determin-
entitlement and, 346– ing
347, 357 considerations for, ing, 278, 282
376–377, 377 (table) ProVision, 28
lease option and, 317 criteria for, 378, 378 Pulley, Robert, 203–205, 208
from problems, 185, 199 (table) Purchase agreement, 361
projections and, 206 evaluating, 380–381, 381
tax liens and, 373 (table) Qualified intermediary, 299
Proforma, 140 Property conditions report commingle funds and,
Project manager costs of, 230 300–301
budget and, 83 due diligence and, hiring, 301–302
permanent, 452 229–230 1031 exchange, laws
role of, 82 Property management with, 300
Projected expenses, costs and, 284–285
experience aiding, Quality, 453
207–208 280–281 Quickbooks, 15–16
Projected sales hiring for, 287–288 Quill Awards, 458
importance of, 277–278,
cemeteries and, 209–210 288–289 Rates, for rentals, 269
importance of, 207 leasing, importance of, Ratio analysis
Projections, 140 263
Properties luck and, 286 cap rate for, 20
classes of, 188–189 misunderstandings common, 19 (table)
control and, 368 about, 277 importance of, 19
criteria/analysis for, 192 NOI and, 281 ROI for, 20–21
demographics and, problem property, mis- Real estate
takes in, 279–280 animals and, 357–358
195–196 resources for, 289 as business formula,
financing with, 309–310 systems for, 286
GRM and, 194 travel challenges for, 436 200
investing, finding good, “triple threat” of, 281 details list for, 426–
Property management
187 company 427
leverage and, 192 costs of, 288 driving to discover,
neighbor’s impact on, development and, 83–84
due diligence with, 224– 174
343 225 due diligence period
positive cash flow and,
for, 31
192 experience and, 253
resources for valuing, formula for, 54–55
freedom through, 467
310
S. W. O. T. analysis for,

194
tax lien risks with,

384–385
taxes, types of, 294

INDEX 495

importance of, 1–2 recession in, 105 problem people and, 283
income sources in, 475 recovery phase of, rates for, 269
leverage and, 7–8 S corporation/C corpo-
mastering your universe 103–104
Real estate market ration mistakes with,
in, 91 25
math for, 178–180 future of, 322–323 Repair credits, 313
offshore strategies and, investing in any, 324–325 Reporting
patience and, 95 for investing, 17
115–116 real estate broker, fluctu- seller given, 360
politics and, 341–342 See also Comparison
risk minimization in, ations in, 37 reports; Constraints
vision and direction of, report; Credit report;
52, 232 Drainage report;
starting challenges for, 94–95 Property conditions
See also Market niche report; Ratio analysis;
177–178 Receipts, 27 Soils report; Statement
stocks compared to, Recession of cash flow; Title
capital and, 370 report
310 exchanging and, 393–394 Reserve accounts, 435
tax laws favoring, 23 real estate cycle and, 105 Residential real estate, 89
tax liens, criteria for Recorded messages types of, 188
emotions and, 333–334 Retail commercial space,
choosing, 378, 379 pre-foreclosure invest- 100
(table) Return on investment
1031 exchange, land as, ing, using, 333 (ROI), 19, 19 (table)
298 questions for, 335 ratio analysis and, 20–21
See also Commercial strategy for, 334 tax laws and, 22
real estate; Deals; De- Recovery, 103–104 Rezoning
velopment; Disputes; Referrals, 13 important questions for,
Investing; Mixed use pre-foreclosure investing 181–182
real estate; Residential neighborhood input for,
real estate and, 337–338 179
Real estate attorney for team, 237 process of, 175
attorney compared to, Refinancing, 303–304 wealth creation and, 176
32–33 Rejection, 459 Rich Dad Poor Dad
costs and, 35 Relationships (Kiyosaki, Robert), 7,
due diligence with, 33 attorney and, 445–446 72
hiring, 34 investing and, 446–447 Rich Woman: A Book on In-
role of, 34 longevity in, 412 vesting for Women
Real estate broker in politics and entitle- (Kiyosaki, Kim), 450
costs and, 361–362 The Richest Man in Babylon
disputes and, 154 ment, 347–348 (Clason), 137
financing with commis- of shoppers in shopping Right of access, 361
sion of, 312–313 Right of reinstatement, 332
as investor, 313 centers, 414–415 Right of survivorship, 111
real estate market fluctu- of tenants in shopping Risk profile, 61
ations and, 37 Risks
role of, 36 centers, 413–414 business plan and, 255
Real estate cycle See also Working rela-
asset classes and, 103
expansion and, 104 tionship
hypersupply in, 105 Remedies, 157–158
phases of, 104 (fig.) Renovating, 246
“Rent runners,” 452
Rentals

furnishing, 243
NOI and, 282–283

496 INDEX

construction costs and, SEC. See Securities and Ex- education of, 307
51 change Commission; working relationship
Society of Exchange
development and, 87 Counselors with, 306
of disputes, 153 Shoppers
experience with, 256 Securities and Exchange
of flipping, 1 Commission (SEC), design impacting, 424
of investing, 2 143 goals for, 414
lease option and, 315 shopping center rela-
multifamily asset class Securities laws, 141
consul for, 142–143 tionships with, 414–
and, 100 415
OPM and, 144 Self storage spaces, 101 shopping center visibil-
real estate, minimizing, Self-reliance, 464 ity for, 416–417
Seller Shopping centers
52, 232 attractions and, 422–424
reserve accounts mitigat- buyer meeting face-to- casinos compared to,
face with, 438 421–422
ing, 435 convenience and,
retail commercial space entitlement benefiting, 418–419
359–360 costs impacting leasing
and, 100 for, 420–421
single-tenant property financing with, 308–309 demographics and den-
lease option benefits, sity impacting,
and, 435 417–418
of stocks, 222, 251 buyer v., 314–315, 315 design for, 424–425
tax lien process and, 384, (table), 318 (table) details impacting,
lease option possibilities 425–426
384 (table) for, 316 excellence in, 411
tax liens and ownership, private financing bene- keys to, 410–411
fits for, 65 location and, 415–416
382–383, 383 (table) reports given to, 360 location vitality impact-
tax liens, trust and, 319 ing, 419–420
Selling parking and, 418–419
properties/costs/envi- buying compared to, 174 resources for, 428
ronment and, 384–385 development, operating shopper relationships
team, identifying, 31 v., 74 with, 414–415
triple net lease and, 437 of existing home with success with, 410
ROI. See Return on invest- staging, 239–240 tenant mix’s importance
ment first impressions and, to, 421–422
Ross, George, 456 240–241 tenant relationships in,
leasing and, 266–267 413–414
S corporation, 24 negotiating and, 321 visibility/shoppers focus
rentals, mistakes with, 25 premature, 220 for, 416–417
tax liens and, 388 women and, 415
S. W. O. T. analysis, 194 unoccupied homes and, Short sale, 323
Sales price, 193–194 241 Short-term construction
Saving, 137 Senior living communities, loan, 86–87
Scheduling, 82 243–244 Short-term property, 294
Schirmer, W. Scott Series LLCs, 126 Shultz, Mel
Settlements biography of, 183
biography of, 370 disputes and, 167–169
foresight of, 341–342 perseverance for, 169
School districts, 355 Sheets, Carlton H.
development, impor- biography of, 325

tance of, 356
Schwarz, Barb, 242

INDEX 497

vision of, 173 CASHFLOW 101, incor- role of, 42–43
Signage, 271 porating, 12 Sutton, Garrett
Simon, Mel, 412
Single-tenant property, current wealth deter- asset protection and,
mined for, 10, 10 (table) 108–109
434–435
loans and, 443 financial goals and, 9 biography of, 132
risks of, 435 imagine step for, 9 Systems, 286
Society of Exchange for investing, 9
investment criteria for, Table of contents, 140
Counselors (SEC), Tact, 351
394 12, 12 (table) Tahbazof, Sia, 196–197
Soil experts, 181 investment niche for, 11 Taking title, 111–112
Soils report of Kiyosaki, Kim, Talent
importance of, 364
purpose of, 363 433–434 attractiveness of, 148
Sole proprietorship, 24 with laundry rooms, 284 of Buffett, 61–62
“Specific performance” mission, values, vision of mediator, 163–164
contracts and, 157–158 speed and, 68
limiting, 158 for, 10–11 team building with,
Speculating, 1 of multiple offers, 320
Speed pre-foreclosure invest- 62–63
private capital and, 68 See also “Sum of talent
talent and, 68 ing, marketing and, 337
wealth, importance of, (table) and equity”
67 for recorded messages, “Taw,” 134–135
working relationships 334 Tax laws
and, 68–69 tax liens and, 375–376,
Spinola, John, 395 375 (table), 388–389, depreciation and, 26–27
Staging 388 (table) due diligence with,
importance of, 241 for taxes, 23–24
interior design com- See also Finder strategies 174–175, 231–232
pared to, 234 Structural engineer, 80 fix and flip and, 25
resources for, 242 Subcontractors, 82 Real estate and, 23
selling existing home Sub-prime mortgage disas- ROI and, 22
and, 239–240 ter, 222 transfer title and,
tips for successful, 240 Success
Statement of cash flow assumptions about, 127–128
composing, 18–19 198–199 Wheelwright’s knowl-
example, 18 (table) details and, 427–428
misconceptions failure for, 329, 477 edge of, 6, 372
regarding, 17 knowledge yielding, See also 1031 exchange
Stocks 280–281 Tax lien auction bidder, 387
real estate compared Palmer’s story of, Tax liens
to, 310 149–150 auctions and, 388
risks of, 222, 251 realities of, 199 bid process and, 380–
Strategy shopping centers and,
for asset protection, 410 381, 381 (table)
110–111 small steps to, 457 as business, 387
cash flow target and, 9 team and, 197 due diligence and, 382,
“Sum of talent and equity”
(T+E), 61–62 388
Surveyor evaluating, 379–380
gap areas and, 43 foreclosures and,

381–382, 388
investing, criteria for,

377

498 INDEX

outcomes of, 375 (table) T+E. See “Sum of talent and Internet
ownership, research equity” 1031 exchange

for, 383 Team 45-day identification
process of, 373–374 of Buffett, 62–63 period for, 298–299
profit of, 373 composing, 30, 256–257
real estate choices, for construction, 81–83 180-day replacement
for development, 79–80 period for, 300
criteria for, 378, 379 due diligence and, 32,
(table) 223–224 big picture of, 305
risks with ownership in, efficiency with, 14 debt and, 304–305
382–383, 383 (table) engagement letter for entitlement and, 360
risks with process in, members of, 35 investment property and,
384, 384 (table) exit strategies with,
risks with 257–258 296–298
properties/costs/envi- familiarity with, 33 IRS and, 295–296
ronment in, 384–385 hiring, 258 land as real estate for, 298
selling and, 388 importance of, 29–30, process of, 295
strategy with, 375–376, 223, 236 properties identified for,
375 (table), 388–389, investing, building,
388 (table) 12–13, 196–197 299
summary of, 374 (table) referrals for, 237 purpose of, 294–295
team for, 385–387, 386 risk identification for, 31 qualified intermediary
(table) selecting, 234–235
See also Arizona Property successful approach for, laws with, 300
Tax Liens (Manoil); 197 rules of, 296
Attorney Secrets to talent for, 62–63 taxes, refinancing and,
Investing in Tax Liens for tax liens, 385–387,
(Barazandeh); Interest 386 (table) 303–304
rate investing; Prop- Three Rules of the Game time and, 303
erty acquisition for, 31–32 title holding require-
investing tips for building, 13
Taxes of venders, 356 ment for, 302–303
C corporation and, 113 See also Accountant; Ar- vacation homes and, 297
costs of, 293 chitect; Civil engineer; 1031 exchange intermediary
documentation and, 27 Escrow officer/title hiring, 49
entity structure and, agent; General con- taxes and, 48
24–25 tractors; Hazardous Tenants
investing and, 22–23 substance site assess- evaluating, 96–97, 435
IRS rules for, 117 (fig.), ment engineer; Insur- fitness clubs as, 443–444
297 ance agent; Interior improvements and, 269
offshore strategies and, designer; Landscape lease types and, 264
115 architect; Mortgage properties, types of, 188
property types and, 294 broker; Real estate shopping centers,
strategy for, 23–24 attorney; Real estate
1031 exchange interme- broker; Surveyor; 1031 relationships with,
diary and, 48 exchange intermediary 413–414
1031 exchange, refinanc- shopping centers,
ing to pay no, 303–304 Technology, 68 superior mix of,
See also Income taxes See also Cell phones; 421–422
Tenants in common, 112
Tenants in common (TiC),
112
Think and Grow Rich (Hill),
198
Third party reports review,
229

INDEX 499

Three Rules of the Game, spotting, 195 Use of funds statement, 141
31–32 Triple net lease, 264 Utility companies, 79
Utility development fees,
TiC. See Tenants in common defining, 435
Time risks with, 437 365
“Triple threat,” 281
capital and, 143 Trump, Donald, 139, 185 Vacation homes, 297
CASHFLOW Quadrant biography of, 457 Value-added approach
first deal of, 451–453
saving, 8 learning from, 451 benefit of, 185
cash-on-cash return and, Manhattan arrival of, practicing, 187
Values, 10–11
192–193 453–456 Vendors, 354
enemy of, 69 patience of, 456–457 insurance and, 363
importance of utilizing, on quality, 453 team of, 356
quotable quotes of, 454 Visibility, 416–417
425 Trump, Donald, Jr. Vision, 10–11
politics, tact and, 351 biography of, 462 development and clear,
1031 exchange and, 303 education of, 460
urban revitalization hunting and, 458–459 73–74
Trump, Eric, 458 investing and, 253,
projects and, 93 biography of, 465
wasting, 438–439 respect and, 462 447–448
See also Speed responsibility of, 463 for land, 179
Timetables, 352–353 Trust leasing and, 267
Title company, 43 experience and, of McElroy, 448
development and, 83 patience and, 448–449
due diligence and, 228 464–465 real estate market and,
insurance and, 45 investing and personal,
Title holding, 302–303 94–95
Title insurance, 45 439 of Shultz, 173
Title report, 141 lessons in, 463–464
reviewing, 361 listening and, 320 Water, 358
Title review, 227–228 Palmer and, 54, 391 Wealth
Tolkien, J. R. R., 347 property management
Trading, 1 defining, 55–56
Traffic calming measures, 43 company and, 287 exchange and, 56–57
Transfer title seller and, 319 formula for, 55, 66,
insurance and, 129
land trust and, 128–129 Undervalued properties 69–70
LLC and, 126–128, 127 investing beginners and, rezoning creating, 176
188 speed’s importance to
(fig.) reflections on search
tax laws and, 127–128 for, 191 creating, 67
Travel, 25–26 searching for, 189–191 See also Current wealth;
deal management prob- tips for finding, 190
Monetary wealth
lems with, 215–217 Unoccupied homes Wealth coach, 21, 387
investing and, 476 furnishing for, 241–242 Wells, 358
property management selling, 241
development, checking
challenges with, 436 Urban revitalization for, 366
See also Air travel projects, 93
Trends Wheelwright, Tom
design and short-lived, biography of, 28, 389

244–246
properties and, 194–195

500 INDEX

education of, 6, 372 Word-processing software, with Lotzar, 29–30
ethics of, 5, 371 59 with McCallistaer, 71–72
Kiyosaki, Robert’s, with McElroy, 276–277
Work, 7 Sheets and, 306
friendship with, 7 Working relationship speed and, 68–69
tax laws and, 6, 372 Worst-case scenarios, 61
“Will the dogs like it?” with architect, 39
with Bays, 152 Zoning, 180
204–206 with Dalton, 233–234 See also Rezoning
Wills, 118 in exchange groups,
Women
403–404
auto shows and, 423–424 with Gorman, 293
convenience and, 418 importance of, 30
shopping centers and, with leasing agent/

415 advisor, 272–273

Credits

Chapter 1, “The Business of Real Estate,” copyright © 2009 by Tom Wheelwright is used
by permission of the author.

Chapter 2, “A Real Estate Attorney’s View of Assembling and Managing Your Team,”
copyright © 2009 by Charles W. Lotzar is used by permission of the author.

Chapter 3, “The Way to Exotic Wealth,” copyright © 2009 by Wayne Palmer is used by
permission of the author.

Chapter 4, “Profits from the Ground Up,” copyright © 2009 by Ross McCallister is used
by permission of the author.

Chapter 5, “Master Your Universe,” copyright © 2009 by Craig Coppola is used by
permission of the author.

Chapter 6, “10 Rules for Real Estate Asset Protection,” copyright © 2009 by Garrett Sutton
is used by permission of the author.

Chapter 7, “Of Marbles and Capital,” copyright © 2009 by Wayne Palmer is used by
permission of the author.

Chapter 8, “How to Avoid and Handle Real Estate Disputes,” copyright © 2009 by Bernie
Bays is used by permission of the author.

Chapter 9, “Buy by the Acre, Sell by the Foot: Understanding Real Needs, Financial Logic,
and Asking Questions,” copyright © 2009 by Mel Shultz is used by permission of the
author.

Chapter 10, “It’s All About Adding Value,” copyright © 2009 by Curtis Oakes is used by
permission of the author.

501

502 CREDITS

Chapter 11, “Analyzing the Deal, or Adventures in Real Estate,” copyright © 2009 by John
Finney is used by permission of the author.

Chapter 12, “Real Estate Due Diligence,” copyright © 2009 by Scott McPherson is used by
permission of the author.

Chapter 13, “Creating Value from the Inside Out,” copyright © 2009 by Kim Dalton is used
by permission of the author.

Chapter 14, “Financing for Real Estate Investors,” copyright © 2009 by Scott McPherson is
used by permission of the author.

Chapter 15, “Lease It and Keep It Leased,” copyright © 2009 by Craig Coppola is used by
permission of the author.

Chapter 16, “The Perils of Careless Property Management,” copyright © 2009 by Ken
McElroy is used by permission of the author.

Chapter 17, “Getting from A to B Without Paying Taxes,” copyright © 2009 by Gary Gorman
is used by permission of the author.

Chapter 18, “No Down Payment,” copyright © 2009 by Carleton Sheets is used by
permission of the author.

Chapter 19, “Marketing: Your Ticket to Finding and Profiting from Foreclosures,” copyright
© 2009 by Dean Graziosi is used by permission of the author.

Chapter 20, “The Sleeping Giant of Real Estate Profitability,” copyright © 2009 by W. Scott
Schirmer is used by permission of the author.

Chapter 21, “The Tax Lien Investment Strategy,” copyright © 2009 by Tom Wheelwright is
used by permission of the author.

Chapter 22, “Horse Trading: The Original Way to Wealth on the Great American Frontier,”
copyright © 2009 by Wayne Palmer is used by permission of the author.

Chapter 23, “How to Create Retail Magic: A Tale of Two Centers,” copyright © 2009 by
Marty De Rito is used by permission of the author.

Chapter 24, “What One Property Can Teach You,” copyright © 2009 by Kim Kiyosaki is
used by permission of the author.

Chapter 25, “In the Beginning . . . ,” copyright © 2009 by Donald Trump is used by
permission of the author.

Chapter 26, “What Is the Most Important Thing You’ve Learned From Your Father
About Real Estate?” copyright © 2009 by Donald Trump Jr. and Eric Trump is used
by permission of the authors.