Real Estate Investment Strategy volume 1 index
A
abatement 184
absorption rate 183
abstract of judgment 27
access 31, 32, 67, 70, 203, 204
acquisition 6, 7, 11, 12, 16, 17, 31, 32, 51, 55, 56, 72, 74, 75, 78, 88, 91, 101, 102, 129, 162, 181, 191, 198, 205
actuarial tables 176
additional damages 37
additions 3, 182
adjacent property owner 49
adjustable rate mortgage (ARM) 10, 11, 12, 14, 61, 126, 127, 128, 152, 177
advertising 5, 10, 32, 33, 40, 50, 51, 56, 62, 71, 73, 74, 78, 84, 88, 102, 107, 152, 197, 202
affluence 7
after-tax cash flow 120
after-tax return 143
Aggressive Tax Avoidance for Real Estate Investors 14, 15, 72, 81, 138, 140, 155, 178
AIDS 46
Alameda, CA 27, 32, 45
Alamo, CA 9
alcohol 44
Allen, Bob 51
Alliance Realty Group 116
Almanac of American Politics 43, 199
alternative minimum tax (AMT) 58, 92, 100
amortization 6, 51, 126, 137, 138, 162, 163, 169
Anaheim 123
Anaheim-Santa Ana 122
Andrews, Gary 184, 186
annual appreciation rates 42
Antioch 9
apartment association 41, 102, 207
apartment expenses 54
Apartment Market Study 122
App, Frank 203
Applicable Federal Rate 4
appraisal 6, 7, 10, 11, 12, 16, 19, 33, 46, 47, 89
appraisers 11, 47, 48, 58, 65, 203
appreciation 4, 5, 8, 17, 18, 42, 51, 57, 59, 60, 63, 69, 70, 71, 78, 88, 89, 92, 94, 107, 110, 116, 118, 120, 121, 122, 123, 124, 125, 129, 130, 131, 132, 133, 134, 135, 136, 138, 139, 141, 142, 143, 144, 157, 158, 159, 162, 163, 164, 169, 170, 173, 174, 175, 176, 183, 194, 195, 198, 199, 201
arbitration 19
Arby’s 17
architecture 7
Arlington, VA 38
asbestos 61, 67, 69, 102, 175, 178, 184, 185, 186, 187, 188
asking prices 102
assembly 31
assessor 13, 15, 32, 33, 91
assign 11
assumable ARM 11
assumable liens 22
assume 6, 10, 12, 22, 78, 102, 169
assumption 7, 10, 11, 143, 144, 174, 175
Atlanta Real Estate Investors Association 103
attachment lien 21, 24
attorney 9, 12, 18, 19, 20, 22, 36, 37, 38, 39, 49, 58, 73, 81, 97, 141, 146, 148, 156, 178, 179, 184, 186, 188, 201
auction 10, 15, 16, 17, 20, 21, 22, 23, 24, 25, 27, 31, 32, 33, 42, 45, 46, 47, 107
audit 14, 33, 98, 176, 187, 188, 189, 190
Austin 203
Average Arms 109
B
back-door vulture strategy 69, 117
back taxes 32
Bacon, Madi 203
bad debt 38
bad foundations 11, 33, 69, 129, 167
bad neighborhoods 207
bad tenant 12, 69, 103, 115
balloon payments 105, 116, 126, 127, 128, 137
Balou, Lana 10
bankruptcy 15, 24, 25, 26, 34, 83, 104, 105, 159, 175, 186
Bankruptcy Code 104
Bankruptcy Reform Act of 1978 SS 1129 (b)(2)(A )(i 105
Barbizon 150
bargain purchases 10, 18, 20, 63, 65, 68, 69, 118, 164, 186
Bata, Zana 44
Bathroom Renovator 40
Becker, Eileen 177
Beck, John 2, 21, 25, 32, 33, 43, 45
before-tax cash flow 109
Belle’ Terre v. Boraas (94 SCt 1536) 151
Berger, Isidor 136
Berkeley, California 202
Best Practices for the Intelligent Real Estate Investor 54, 72, 190
big bank 14
Bill “Tycoon” Greene 106
binder 19
binge 66
blank-check clause 96
blank purchase offers 56
blind ad 88
blocked property 204
Bogart, Peter 33
boiler 40
Bonanza 32
bonds 22, 25, 36, 88, 106, 122, 123, 133, 134, 135, 139, 159, 182
Boston 38, 88, 123, 133
breach of contract 38
breakeven 6, 31, 54, 62, 78, 114, 122, 130, 142, 143, 169, 170, 183
Brick, Had 2
bridge financing 9
Britt, Darlwin 44
broker 18, 19, 20, 54, 66, 67, 97, 104, 116, 122, 130, 162, 207
Bronx Landlords Protective Association 136
Brown, Ray 203
Bruss, Bob 12, 13, 14, 15, 71, 157, 159
Buffalo 123
buildable lot 49
builder 14, 20
builders price 40
building codes 204
building inspector 15
building moratoria 95
bureaucrat 30
buried toxics 185
Business Week 142
buy-and-hold 94
buyer performance 37
buyer’s broker 18
buy-low-sell-high 19
buy-very-low-sell-low strategy 19
C
Cabot, Val 199
calculated risk 172
California 20, 90, 132
California Coastal Commission 135
California’s central valley 17
Campeau, Robert 48
cancelled 15
Capacity 44
capital assets 176
capitalization rate 4, 5, 6, 7, 8, 39, 40, 55, 92, 106, 107, 109, 110, 122, 139, 146, 151, 164, 165, 166, 167, 195, 201, 206
Carrithers, Bill 36
carrying costs 102, 140
cash damages 37
cashiers checks 15, 16
cash-on-cash return 6, 60, 63, 139, 143
cash return 55
casinos 107
Castro Valley 18
cats 13
CERCLA 178, 184
Certified Commercial Investment Member 109
change order 14
Chapter 11 105, 201
Checklists for Buying Rental Houses and Apartment Buildings 9, 72
Chelling, Mark 104
Chicago Creative Investors Association 7
Christiansen, Bill 3
classified ads 32, 33, 40
clearinghouse guarantee 36
Coats, George 23
college student tenants 27
commission 3, 9, 13, 15, 18, 19, 20, 134
Commissioner v. Pickard, 401 F 2d 615 155
community bank 14
Comprehensive Crime Control Act of 1984 180
condemnation 13
condo conversion 57, 92, 106
condos 2, 16, 92
confiscation 182
conservator 45
Consolidated Capital 51, 55, 60, 108, 181
construction costs 127
construction financing 20
construction loan 12, 14
construction period interest 14
Consumer Price Index 121, 124
contamination 33, 189
contingencies 97
contingent liability from operation of building la 9
contingent purchase agreements 65
continuing education courses 90
Contra Costa Times 10
contractors 41
contrarian strategy 89, 100
converted garage 7
Cornell Law Review 41
corporate pension plans 70
corporation 21, 22, 23
Corsicana, Texas 102
cosmetic renovation 2, 38, 39, 94
cost accountants 162
cost-of-living 47
court appraisal 19
Craig Lehmkuhl 104
“cram down” provision 105
Creating Wealth 51, 78
Creating Your Financial Fortress 179
creative finance 105
credit 172
credit-card companies 24
credit rating 27
Crouch, Greg 180
Crow, Trammel 59
D
Daily Commerce 33
Dallas Apartment Association 102
Dallas/Fort Worth 102, 114, 116, 178, 184, 186, 197, 207
deadbeat tenants 64
dealer property 58
dealer status 24, 58, 59, 70, 87, 92, 156, 180, 181, 207
deal-killing 18
Deals That Make Sense 79
death 26, 35, 57, 75, 80, 87, 101, 172, 176
DeBartolo, Edward 48
debt-coverage ratio 9, 137
deed in lieu of foreclosure 46
deedless real estate investing 18, 190
deed preparation 58
deed restrictions 9, 204
Deering’s California Civil Code SS 39 44
Deerings California Probate Code SS 170 1 45
default 23
defeasance 22
deferred maintenance 54, 105, 115
deficiency judgment 43
delayed exchange 16, 188See exchanging
delayed-exchange escrow 16
delayed-exchange facilitator 16
delegating 40
demand 183
Denver 135
department store chain 48
deposit 25
depreciation 5, 15, 58, 70, 121, 138, 139, 140, 143, 147, 152, 156, 162, 163, 169
deregulation 62
Detroit 123, 194, 196
development REITs 57
DiGrazia, Gary 18
DillCo., 33 TC 196 155
disaster areas 191
discount-lien release 21, 24
Disney, Walt 31
DisneyWorld 31
Distressed Real Estate Times 72
Distressed Sales Report 32
distress property 114
Distress Sales Report 43, 45
dividend 60
dormers 3
double-digit appreciation 88, 107
double-digit inflation 125
double escrow 19, 69
double lot 49
Downs, Anthony 123
downturn 118
down-zoned 93
drug abuse 45
Drug Addict Sellers 44
drug dealers 24
drug paraphernalia 44, 46
due diligence 50, 73, 87
due-on-sale clause 141, 157, 160
dumping 61
duplexes ii, 8, 30, 50, 59, 93, 139, 164, 165, 186
Dupree + Scott 138, 166, 167
duty stations 63
E
earthquake 10, 32, 188, 190, 191, 194
earthquake-resistance standards 191
easement 8, 9, 31, 204
easy-come-easy-go syndrome 24
easy-qualifier mortgage 18, 19
Economic Recovery Tax Act 120
efficiency 2
ejection criteria 57
El Dorado County 32
El Monte, CA 205
eminent domain 32
engineer 11
entrepreneurs 47
entry barriers 94
environmental audit 33, 176, 188
environmental laws 190
environmental liability 201
Equitable Real Estate Management 90
equity 44, 103, 109, 111, 116, 121, 127, 134, 156, 180
equity buildup 141
equity ownership 173
escrow 96
escrow officers 91
escrow period 67
ethics 14, 18, 34, 74, 157, 159
Euclid v. Ambler 3
exceptions 22, 25
excess 49
excess depreciation 58
excess proceeds 16, 25, 33
exchange 89
execution lien 24
executor 18, 19, 20
exit barriers 94
expansion-minded 30
expenses 62
expired lien 25
extortion 97
F
Fair Housing Act 188
Fair Housing Amendments 87, 177
fair market value 34, 36
fast buck 68
Federal National Mortgage Association 4
fee simple title 34
felony neglect 44
Ferraro, Geraldine 142
FHA 4, 6
FHA Title I improvement loan 12
Fidelity National Title 44
fiduciary responsibility 91, 206
filthy buildings 103
financing 6, 8, 9, 11, 20, 22, 33, 35, 47, 48, 58, 65, 68, 70, 74, 90, 95, 129, 134, 138, 139, 141, 149, 159, 160
fireproof roofs 165
fire wall 9
First English Church 134
first-year returns 138
Fisher v. Losey 14
fixed price 14, 36, 66, 67, 157, 159, 163
fixed-rate mortgage 14, 126, 127, 128, 177, 182, 183
fixers 11, 38, 72, 79
fix-up 12, 14, 41
flip 10, 18, 19, 94
floating-rate loan 14
floodplain 32
Fontana, CA 205
Forbes magazine 142
foreclosure 5, 6, 10, 15, 16, 17, 18, 19, 21, 22, 23, 24, 27, 32, 33, 35, 41, 42, 43, 44, 45, 46, 50, 56, 57, 67, 69, 73, 74, 76, 86, 100, 104, 116, 129, 135, 136, 137, 155, 160, 185
Foreclosure Hotlist 46
forfeited deposits 97
forgery 45
Fort Worth 102
foundation 3, 11, 130
fourplexes 93
fraud 45
free-and-clear 25, 66, 138, 139, 152
free market buildings 125
FSLIC 116
Fuller, Del 36
full-price offer 10
full-time acquisitors 55
Furey, Ruth 178
G
gamblers 106, 107, 172
Gambler’s Syndrome 107
garage 2
Gardiner, Richard 158
garnish wages 27
Gary, IN 44
gas bill 40
general contractor 14
Georgia Real Estate Investors Association 140
Golden States Lanes v. Fox, 42 Cal Rptr 568 155
gold mining 199
Goodale v. West 37
Goodfriend, Marc 6, 7
good management 60
government intervention 62, 137, 151
Grand Rapids 123
greenmail 205
Griffin, Jeff 44
gross rent multiplier 5, 6, 55, 138, 195, 198, 201
gut rehab 13
H
Haddonfield, New Jersey 150
hardwood floor 13
Hayward 18
hazard insurance 40, 146
Healy, Martin, Jr 65
hedging 12, 14, 177, 182
Hendersen, Scott 116
higher interest rates 87
higher leverage 58
higher profit margins 67
high-priced commercial property 66
high vacancy rate 115
high-yield properties 199
Hinckley, John 150
His Accidency 35
holding periods 8, 14, 63, 69, 94, 109, 110, 164, 167, 196
home equity line of credit 19
Home Equity Sales Statute 46
home mortgage interest 135
home office 9
homeowners associations 69, 148, 149
homestead 24
Horowitz, David 38
hotels 94
How I Turned $1,000 Into $5,000,000 in Real Estate 38, 39, 78, 106, 206
How to Buy Real Estate for at Least 20% Below Market Value 10, 13, 21, 69, 72, 74, 75, 78, 176
How to Find and Buy Your Place in the Country 147
How to Get Started in Real Estate Investment 72, 75, 79, 82
How to Increase the Value of Real Estate 3, 9, 14, 38, 70, 72, 79, 129, 130
How to Manage Residential Property... 3, 40
How to Manage Residential Property for Maximum Cas 110, 196
How to Manage Residential Property For Maximum Cash Flow and Resale Value 72, 79
How to Structure Your Mortgage 22, 72
How to Write, Publish, and Sell Your Own How-To Book 74
Huber, Peter 178
I
illegal addition 204
improvement ratios 147, 203
income properties 4, 5, 55, 63, 67, 88, 89, 90, 92, 93, 100, 101, 102, 109, 110, 114, 116, 117, 120, 121, 122, 126, 130, 131, 135, 136, 137, 138, 139, 140, 143, 144, 146, 147, 169, 176, 183, 201, 203, 206, 207
income statement 109
income stream 109
income tax laws 69
incompetent buyers 30
incompetent lienholder 23
increased property value 65
indemnification 102, 185, 186, 187
Independent Administration of Estates Act 19, 20
Independent Exchange Service 16
industrial tenants 47
inflation 51, 57, 66, 100, 108, 119, 121, 124, 125, 126, 127, 128, 178
injunctions 37
insider knowledge 91
inspection contingencies 19
installment sales 36, 58, 89, 92, 103, 156
institutional lenders 4, 58, 74, 141, 156, 183
institutional mortgage 36, 159
insurable risk 172
insurance 9, 11, 14, 15, 19, 25, 36, 37, 40, 46, 58, 62, 67, 70, 91, 92, 96, 97, 100, 116, 146, 148, 149, 157, 165, 172, 173, 175, 177, 178, 179, 180, 185, 186, 190, 191, 194
insurance-agent-replacement-cost-estimate approach 15
InterCity Express 18
interest-rate futures 14
interest rates 4, 5, 7, 10, 12, 14, 15, 16, 22, 26, 27, 35, 37, 49, 50, 57, 59, 62, 66, 69, 70, 74, 81, 82, 87, 88, 89, 90, 92, 95, 96, 104, 105, 106, 116, 120, 121, 122, 126, 127, 128, 129, 133, 134, 135, 137, 139, 140, 148, 156, 157, 158, 162, 166, 173, 175, 176, 177, 182, 194
investment 67
investment agents 132
investment properties 90
investment real estate 55
investment strategies 63
investment tax credit 139
involuntary lien 26
IRS 14, 156
Irvine Ranch 94
J
Jim Walter Corp. 175
Joe 6
Jonas, Ted 202
Joyal, Esther 24
JS Elm Street Corp 179
judgment creditor 21
judgment investing 26, 27, 38
judgment lien 21, 22, 23, 24, 26, 27
judgment proof 27
judgment release 21
judgments 21, 23, 26, 27, 42, 43, 46, 176, 205
junior judgment holder 21
junior liens 24, 46
Jury Verdict Research, Inc 178
K
Kaluzhny, Ernie 185
Kaplan, Jay 51, 55, 108, 181
keeper properties 141
Kessler, Ernie 23, 43, 46
keys 19
Kinter, Dan 56, 156, 159
Kohlberg Kravis Roberts & Co. 175
Kramer, Bill 8
L
Lancaster, PA 38, 39, 68
land 14, 15
land business 68
land contract 6
land improvements 15
landlocked land 31
Landlording 146
landlord property 181
Land Rush 31
LA Times 50
Law Review 42
lawsuit-based lien 25
Lawton, Oklahoma 198
Lazy 30
lease options 11, 14, 31, 34, 37, 38, 66, 74, 75, 154, 155, 156, 157, 158, 159, 160
Lease Options: How to Buy and Sell Real Estate for 158
leasing agents 59
Leasing Professional 186
left-out expenses 198
legal newspaper 18
lenders 42
leper properties 4, 8, 9, 41, 89, 101, 102, 103, 129, 130, 167
letter rulingSee advance letter ruling
leverage 4, 7, 58, 59, 65, 74, 87, 105, 117, 118, 120, 139, 140, 146, 157, 159, 169, 170, 175, 176
levy 27
Levy, Steven 201
liability 9, 19, 27, 33, 62, 69, 79, 87, 100, 104, 118, 148, 163, 164, 172, 173, 175, 176, 177, 178, 179, 185, 189, 201
Liability 178
lien 21, 22, 23, 24, 25, 26, 27, 42, 157
Lien Release and Partial Satisfaction of Judgment 21
limited partnerships 107
Linder, Steve 104
lines of credit 12
liquid assets 5, 118, 139, 185
liquidated damages 66
liquidity 70, 93, 110, 111, 159, 160
lis pendens 13
listing clients 130
listings 2, 3, 4, 9, 13, 35, 43, 56, 68, 91, 102, 103, 130, 131, 135, 159, 163, 191, 206, 207
litigation 12, 149
Livermore 15
living trust 26
load factor 3, 14
loan documents 141
loan-to-value ratio 4, 48, 58, 59, 74, 108, 117, 118, 127, 139, 141
locksmith 17
Long Island 197
long-term capital gains 58, 92, 155
long-term leases 146
long-time-on-market 102
loss assessment 148
lotteries 107
Louisville 122
lying to a lender 7
M
Maintenance Warehouse 40
malicious harassment 177
management 8, 18, 27, 60, 63, 68, 70, 79, 88, 89, 93, 94, 98, 107, 110, 111, 114, 115, 116, 118, 136, 137, 146, 149, 151, 156, 162, 163, 164, 169, 177, 179, 197
Manhattan foreclosures 136
Manley, Bill 56, 103, 140, 158
Marcus & Millichap 101
margin 3, 9, 16, 17, 39, 68, 83, 184
Marin County, CA 8, 149
market distressed properties 115
market interest rates 134
market value 5, 6, 17, 18, 19, 21, 22, 23, 24, 30, 31, 33, 34, 35, 36, 37, 38, 46, 47, 50, 51, 57, 60, 63, 67, 68, 76, 91, 94, 102, 110, 116, 117, 135, 137, 146, 154, 156, 157, 158, 186, 191, 197
market-wide appreciation 63, 69, 129, 130, 131, 162, 164, 198, 199
Maryland 202
Maryland Bank & Trust Co 185
Maxim Engineers, Inc 184
maximum bid 16
maximum return 59
Means Repair & Remodeling Cost Data 185
Memphis 201
micro-niches 203
mildew 14
Mill Valley 32
Milwaukee 133
Mineral King 31
minimum bid 16
MLS book 9
mobilehome 134, 146, 147
money market rates 88
monitoring well 188
Montara, CA 191
Moore v. East Cleveland (431 US 494) 151
Morse, Frederick 151
mortgage lenders 11, 23, 56, 82, 108
mortgage staying power 118
Muldoon, Jim 38, 39, 40, 68
multiple listing books 2, 135
multiple listing service 3, 4, 5, 9, 56, 91, 101, 102
municipal bonds 170
N
National Association of Realtors 133, 157
National Multi Housing Council 202
National Safety Council 173
negative amortization 51
negative appreciation rates 129
negative cash flow 4, 5, 6, 8, 12, 19, 51, 55, 62, 95, 110, 114, 135, 142, 194
negative-cash-flow property 142
negative operating income 96
net operating income 5, 8, 9, 55, 60, 79, 92, 96, 104, 106, 107, 109, 116, 118, 121, 122, 126, 127, 138, 139, 146, 151, 164, 166, 195, 201, 206
never sell approach 58
New England Economic Review 132
New York 31, 36, 41, 43, 61, 78, 123, 134, 136, 137, 150, 174, 182, 188, 194, 205, 206
Nickerson’s two-to-one ratio 40
Nickerson, William 38, 39, 40, 41, 68, 78, 106, 206, 207
Nicolson, Brandt 16
Nollan 134
noncomforming use 9
nondeductibility 89
non-lender buyers 41, 42, 43
non-passive income 178
nonrecourse trust deed 27
nothing down 7, 10, 50, 51, 57, 74, 75, 76, 77, 78, 87, 105, 114, 156
Nothing Down 51, 78, 79, 83, 183
notice of mortgage default 25, 27, 46
nuisance 26
N.Y. v. Shore Realty Corp. and Donald LeoGrande, 7 178
O
Oakland, CA 10, 32, 151, 206, 207
odd-shaped parcel 32
Odessa, TX 177
office-warehouse 47
oil 61, 83, 84, 123, 125, 164, 165, 185, 186, 188, 189, 194, 196
Oil Patch 57, 70, 175, 176, 182, 183, 194
Old House Journal 38
Olswanger & Michel, Inc. 201
one-bedroom 2, 3, 4, 56, 151, 167
one-story houses 38
Onondaga County 43
operating expense ratio 138, 146, 151, 201
operating expenses 89, 116, 117, 121, 126, 139, 146, 151
operating income 5, 8, 9, 39, 55, 60, 79, 92, 96, 104, 106, 107, 109, 116, 118, 121, 122, 126, 127, 138, 139, 146, 151, 164, 166, 195, 201, 206
optionor 36, 37, 155, 156
options 11, 12, 14, 31, 34, 36, 37, 38, 65, 66, 70, 74, 75, 85, 95, 96, 104, 116, 153, 154, 155, 156, 157, 158, 159, 160, 162, 163, 164, 176, 204
Orange County, CA 123, 124, 203
OREOs (Other Real Estate Owned) 57
Orlando 123
Ortiz, Vincent 150
out-of-pocket expenses 39, 40, 84
overbuilding 57, 60, 69, 87, 93, 100, 114, 125, 135, 169, 173, 175, 196, 202, 203
overencumbered properties 25
oversize lots 50
owner occupancy 4, 9, 47, 149
P
Palm Springs 56
Parisse, Alan 60
parking 9, 49, 50, 151
Park Ridge, IL 185
partnerships 11, 18, 20, 32, 65, 74, 75, 107, 176, 179
passive income 89, 147, 152, 156, 178
passive loss 5, 92, 100, 143, 152
people problems 63
permanent commitment 12
permanent down market 108
personal injury lawsuit 184
personally liable 27, 104, 163, 178, 179
personal property 15, 27, 147, 152, 162, 169
Pesek, Paul 178
pesticide residue 188
pet rocks 34
Philadelphia 5
Pittsburgh, PA 199
Places and Spaces Housing Almanac 5
Places Rated Almanac 198
plottage 31
political risk 5, 87, 93, 95, 135, 183, 186
Ponderosa syndrome 32
porch 14
portfolio 58, 93, 107, 134, 156, 177, 190
Portland, OR 180
positive cash flow 2, 4, 5, 6, 34, 62, 63, 87, 89, 102, 107, 114, 122, 139, 146, 156, 160, 169, 170, 194, 196, 199
possession 97
postponed sale 15
premium 109, 110, 111
Pre-Paid Legal Services, Inc 175
present value 21, 47, 155
price appreciation 92
price-earning ratios 133
price of gold 135
pride of ownership 106, 109, 110, 111
prior deed restrictions 204
probate 18, 19, 20, 26, 33, 69
problem employees 64
problem suppliers 64
problem tenants 64, 98
process-oriented 30
production quotas 135
profitable improvements 69
profit margins 67, 68, 183
Prohibition 78, 180, 181
Prop 13 121, 136, 164
property ownership records 35
property search methods 63
property tax assessment 137
property taxes 5, 13, 24, 32, 92, 95, 116, 121, 136, 137, 146, 164, 177, 194, 198
property value increase 39
property wanted ad 50, 51
prorating 96
Publishers Business Services 88
punitive damages 177, 178, 179, 180
purchase agreement 10, 11, 13, 36, 37, 38, 70, 97, 154, 186, 187, 188
purchase/resale option 204
pyramiding 87
Q
quick-hit tactics 70
quick resale 18
quick sale 6, 7, 19, 50, 51, 70
R
rapport 18, 19, 20
raw land 35, 57, 93, 95, 130
Reagan, President 3
real estate agent 10, 11, 13, 20, 27, 35, 36, 46, 51, 54, 68, 70, 90, 91, 97, 103, 130, 131, 140, 141, 163, 164, 166, 187, 207
Real Estate Brokerage Law SS272) 130
Real Estate Educators Journal 41
Real Estate Exchange and Acquisition Techniques 66
real estate executive 65
Real Estate Finance Techniques 14, 182
real estate investment formula 57
Real Estate Investor’s Monthly ii, 45, 61, 72, 130, 198
real estate newsletters 88
Real Estate Research Corporation 90
Real Estate Today 180
recessions 69, 101, 115, 124, 137, 173, 194
redlining 149
Reed’s Rules for Understanding Income Taxes 138
referee 19
refinancing 6, 7, 27, 46, 58, 89, 92, 116, 137, 140, 141, 188
REITs 57, 106, 107, 108
relationship 14
renewal fees 90
renovation 2, 6, 10, 14, 18, 19, 38, 39, 40, 54, 67, 68, 70, 78, 94, 133, 170, 177
rental houses ii, 4, 5, 6, 8, 55, 93, 103, 138, 139, 140, 152, 154, 158, 175
rental market values 137
rental property 8, 10, 31, 74, 89, 96, 156, 162, 169, 170, 178, 179, 180, 188, 198
rent concessions 118, 136, 202
rent control 5, 61, 69, 70, 87, 93, 95, 110, 124, 125, 126, 135, 137, 139, 146, 147, 167, 173, 176, 177, 182, 183, 186, 194, 197, 202, 203, 205, 207
rent-free 154
rent increases 39, 124, 126, 146, 170
REOs (Real Estate Owned) 35, 116
replacement cost 14, 191
resale 5, 18, 19, 24, 32, 33, 34, 41, 42, 43, 102, 110, 111, 133, 141, 149, 151, 182, 204
Research Triangle, NC 88
reserve funds 114
resident manager ii, 59, 63, 64, 146
Resort Property Owners Association 150
Resource 101
restrictions 134
retail chains 24
retaining wall 11
retirement 184
retrofit requirements 191
Rhode Island 132
Richmond, California 10
right of first refusal 204
risk factors 54
risk/reward characteristics 122
risk taker’s credo 174
Robinson, Leigh 146
role of tenant 64
Romeoville, Illinois 6, 7
roof 2, 3, 11, 13, 14, 38, 56, 98, 130, 146, 149
Rosen, Kenneth 124
Roulac, Steve 47
rural 3, 9, 94, 103, 147, 201
S
Sachs, Dwain 35, 56
Sacramento 17
sale-leasebacks 47, 57
Salomon Brothers, Inc 123
Salt Lake 124
sample homes 49
Sanders, Burt 45, 46
San Francisco 3, 10, 12, 13, 18, 32, 36, 38, 46, 50, 51, 93, 108, 122, 132, 133, 177, 181, 182, 183, 187, 190, 191, 201, 203, 204, 206, 207
San Francisco Chronicle 50, 122
San Francisco Examiner 108, 181
San Jose 13
San Leandro 18
San Lorenzo 18
Santa Barbara v. Adamson (610 P 2d 436) 151
satisfaction of lien 26
Scarsdale, NY 36
Schaub, John 158
Scher, Les 147
S corporations 178, 179
Scott, Mike 67, 88
Seattle 38, 67, 122, 138, 166, 167, 199, 207
second mortgages 23, 79, 116, 117, 118, 129, 143, 169, 170
secrecy 30, 31
secured line of credit 14
securities broker 54
securitization of real estate 107
security deposit 5, 17, 22, 146, 151
Sefton v. San Diego Trust & Savings Bank, 106 P 2d 179
seized 24
selected second mortgages 116
seller financing 33, 58, 68, 74, 95, 129, 141, 159
Senate Finance Committee 136
septic tanks 147
Sequoia National Forest 31
shadow fertilizer 40
sharing percentage 158
sheriff’s sale 24, 27, 105
shifting 198
short holding periods 69, 176
short salesSee discount-lien release
Showdown at Gucci Gulch 183
side-by-side properties 8
Sierra Club 31
simultaneous appreciation 176
single-family ii, 3, 4, 6, 7, 8, 38, 49, 50, 55, 66, 93, 109, 135, 139, 140, 141, 151, 152, 157, 175, 181, 190, 206
Single-Family Lease Options 11, 14, 74, 75, 79, 157, 160
slide 32, 103
sliver 32
slivers 32
small claims court 26
small investors 90
small properties 59
small volume discount 40
Smart Trust Deed Investing in California 23
solar access law 203
sole proprietor 63, 178, 179
something-for-nothing-down 87
Sonoma County 33
South Lake Tahoe 32
specific performance suit 13, 36, 37, 38, 66
speculation 70, 130, 131, 162, 163, 183, 198
speculative mania 120, 121, 125
speed 10, 18, 35, 40, 48, 54, 68, 70, 106, 130, 199
split off land 3
Starker accounts 51
Starr, Ron 32
Statistical Abstract of the United States 173
staying power 114
Stephenson, Jim 68
Stephenson System 68
Stevens, Mark 31
Stockton, CA 15
store room 2
straight-line depreciation 169
straight options 154
straw buyer 31
straw man 23
stress 58
structure component 15
subcontract 39, 40, 98
subdivide 8, 93
subject to 6, 10, 12, 22, 95, 97, 152
sublease 31, 66, 162
Succeeding 72, 73, 82
Sunbelt 136
Sunday New York Times 136
supply 57, 82, 123, 133, 135, 164, 182, 183
surplus 21, 42, 47, 48, 69
surveyor error 32
syndication sales 57, 100, 179
Syracuse, New York 41
T
Tacoma 207
Tappan, Bill, Jr 66, 71
taste 7
taxable bond 88
tax assessor 13, 15, 91
tax auction 31, 32, 33
tax benefits 6, 63, 88, 92, 94, 118, 169, 170, 178
taxes 58
tax-exempt 88, 139
tax liability 104
tax maps 32
tax-oriented syndications 106
tax records 9, 152
tax reform 5, 61, 69, 70, 87, 92, 100, 115, 173, 175, 176, 182, 183
Tax Reform Act of 1984 51
Tax Reform Act of 1986 5, 72, 88, 89, 92, 101, 124, 135, 136, 152, 155, 169, 170, 175, 176, 178, 183
tax shelter 60, 138
tenant-in-common interest 31, 35, 66
tenant mix 59
tenant relations 136, 137
termites 58, 87, 96
Texas 24, 93, 137, 196
Texas Property Code Annotated §41.001 25
The Mobilehome Parks Report 147
The Risk Report 180
Thomas, Ted 21, 23, 45, 67
Thompson, Paul 15
three-bedroom house 2, 3, 4, 6, 15, 151
Tiburon 5
Time 38, 39, 40, 78, 106, 135, 136, 206
time sequence diversification 177
title companies 22, 25, 26, 45, 46, 204
title insurance 19, 25, 37, 46, 58, 149, 157
title problems 33, 69, 103, 129, 148, 149, 167
title report 21, 22, 25
title search 37, 45
to-be-auctioned lots 32
to-be-demolished property 9, 69
Toffler, Alvin 63
torts 23
toxic chemicals 61, 87, 102, 169, 173, 176, 178, 184, 185, 187, 188
toxic contamination 19, 87, 135, 179
toxic liability 27, 69, 172, 173, 175, 176
toxics 87
trade associations 57
transaction costs 2, 5, 7, 51, 58, 89, 92, 93, 139, 141, 159, 169, 183, 204
trees 40, 109, 155, 203, 204
triplex ii, 164
Trump, Donald 54, 142
trust company 68
trust deed 23, 24, 26, 27, 155
trustee sale 24
turnaround management 114, 115
two-bedroom house 2, 3, 4
two-family capital 206
two-on-a-lot houses 8
U
unacceptable real estate 54
unbuildable 32, 103
unconscionable act laws 102
underground tanks/toxics 61, 147, 185, 187, 188, 201
unfit for human occupancy 12, 13, 15
uninsurable risk 172, 174, 175, 177, 179
unrealized potential 59, 70, 87, 94, 107, 164, 199
unsecured extension of credit 22, 23, 24, 74
upgrading 59, 63, 65, 94, 95, 107, 142, 164, 170
upzoning 66, 70, 95, 130, 170
useless property 31, 32, 33, 34, 79, 176
U.S. Housing Markets 203
US v Argent, 21 ERC, 354 BNA, Dist. NM 184
US v Nepacco, 579 F Supp 839 184
V
VA 4, 6, 7, 38, 61, 95, 180
vacancy rate 63, 100, 105, 110, 115, 118, 182, 196, 197, 203
vacant 12, 16, 19, 32, 49, 62, 135, 177, 186
vandalism 17
variable operating expenses 116, 117
variance 49, 50, 103
vertical land 32
view 9, 11, 34, 57, 65, 77, 100, 135, 136, 146, 203, 204, 205
vital statistics 26
voluntary lien 26
vulture funds 114, 115
vulture opportunity 116
vulture strategy 44, 69, 113, 114, 116, 117
W
waiting list buildings 202
Wall Street 107
Wall Street Journal 38, 50, 51, 101, 182
Walnut Creek, CA 100
Walters, Lloyd 23, 26, 176
warranties 96
Washington State 199
waste solvents 61
W.D. Swigart, 40 TCM 1215 156
Wechsler, Steve 41
welsh 12, 13, 36
Weseman v Latham, 153 CA 2d 841 44
Western Land Bank 32, 33
Western Mobilehome Association 147
Whispering Oaks 148
Willy Loman 34
windshield appraisal 16, 19
wipe-out auction 22, 24
workable strategies 66
working capital 66
World Series earthquake 10
write off 23
Y
Yanev, Peter 191
Z
Zaccaro, John 142
zombie savings and loans 116
zoning 3, 9, 32, 49, 50, 57, 59, 66, 96, 97, 134, 135, 151, 182, 183, 207
abatement 184
absorption rate 183
abstract of judgment 27
access 31, 32, 67, 70, 203, 204
acquisition 6, 7, 11, 12, 16, 17, 31, 32, 51, 55, 56, 72, 74, 75, 78, 88, 91, 101, 102, 129, 162, 181, 191, 198, 205
actuarial tables 176
additional damages 37
additions 3, 182
adjacent property owner 49
adjustable rate mortgage (ARM) 10, 11, 12, 14, 61, 126, 127, 128, 152, 177
advertising 5, 10, 32, 33, 40, 50, 51, 56, 62, 71, 73, 74, 78, 84, 88, 102, 107, 152, 197, 202
affluence 7
after-tax cash flow 120
after-tax return 143
Aggressive Tax Avoidance for Real Estate Investors 14, 15, 72, 81, 138, 140, 155, 178
AIDS 46
Alameda, CA 27, 32, 45
Alamo, CA 9
alcohol 44
Allen, Bob 51
Alliance Realty Group 116
Almanac of American Politics 43, 199
alternative minimum tax (AMT) 58, 92, 100
amortization 6, 51, 126, 137, 138, 162, 163, 169
Anaheim 123
Anaheim-Santa Ana 122
Andrews, Gary 184, 186
annual appreciation rates 42
Antioch 9
apartment association 41, 102, 207
apartment expenses 54
Apartment Market Study 122
App, Frank 203
Applicable Federal Rate 4
appraisal 6, 7, 10, 11, 12, 16, 19, 33, 46, 47, 89
appraisers 11, 47, 48, 58, 65, 203
appreciation 4, 5, 8, 17, 18, 42, 51, 57, 59, 60, 63, 69, 70, 71, 78, 88, 89, 92, 94, 107, 110, 116, 118, 120, 121, 122, 123, 124, 125, 129, 130, 131, 132, 133, 134, 135, 136, 138, 139, 141, 142, 143, 144, 157, 158, 159, 162, 163, 164, 169, 170, 173, 174, 175, 176, 183, 194, 195, 198, 199, 201
arbitration 19
Arby’s 17
architecture 7
Arlington, VA 38
asbestos 61, 67, 69, 102, 175, 178, 184, 185, 186, 187, 188
asking prices 102
assembly 31
assessor 13, 15, 32, 33, 91
assign 11
assumable ARM 11
assumable liens 22
assume 6, 10, 12, 22, 78, 102, 169
assumption 7, 10, 11, 143, 144, 174, 175
Atlanta Real Estate Investors Association 103
attachment lien 21, 24
attorney 9, 12, 18, 19, 20, 22, 36, 37, 38, 39, 49, 58, 73, 81, 97, 141, 146, 148, 156, 178, 179, 184, 186, 188, 201
auction 10, 15, 16, 17, 20, 21, 22, 23, 24, 25, 27, 31, 32, 33, 42, 45, 46, 47, 107
audit 14, 33, 98, 176, 187, 188, 189, 190
Austin 203
Average Arms 109
B
back-door vulture strategy 69, 117
back taxes 32
Bacon, Madi 203
bad debt 38
bad foundations 11, 33, 69, 129, 167
bad neighborhoods 207
bad tenant 12, 69, 103, 115
balloon payments 105, 116, 126, 127, 128, 137
Balou, Lana 10
bankruptcy 15, 24, 25, 26, 34, 83, 104, 105, 159, 175, 186
Bankruptcy Code 104
Bankruptcy Reform Act of 1978 SS 1129 (b)(2)(A )(i 105
Barbizon 150
bargain purchases 10, 18, 20, 63, 65, 68, 69, 118, 164, 186
Bata, Zana 44
Bathroom Renovator 40
Becker, Eileen 177
Beck, John 2, 21, 25, 32, 33, 43, 45
before-tax cash flow 109
Belle’ Terre v. Boraas (94 SCt 1536) 151
Berger, Isidor 136
Berkeley, California 202
Best Practices for the Intelligent Real Estate Investor 54, 72, 190
big bank 14
Bill “Tycoon” Greene 106
binder 19
binge 66
blank-check clause 96
blank purchase offers 56
blind ad 88
blocked property 204
Bogart, Peter 33
boiler 40
Bonanza 32
bonds 22, 25, 36, 88, 106, 122, 123, 133, 134, 135, 139, 159, 182
Boston 38, 88, 123, 133
breach of contract 38
breakeven 6, 31, 54, 62, 78, 114, 122, 130, 142, 143, 169, 170, 183
Brick, Had 2
bridge financing 9
Britt, Darlwin 44
broker 18, 19, 20, 54, 66, 67, 97, 104, 116, 122, 130, 162, 207
Bronx Landlords Protective Association 136
Brown, Ray 203
Bruss, Bob 12, 13, 14, 15, 71, 157, 159
Buffalo 123
buildable lot 49
builder 14, 20
builders price 40
building codes 204
building inspector 15
building moratoria 95
bureaucrat 30
buried toxics 185
Business Week 142
buy-and-hold 94
buyer performance 37
buyer’s broker 18
buy-low-sell-high 19
buy-very-low-sell-low strategy 19
C
Cabot, Val 199
calculated risk 172
California 20, 90, 132
California Coastal Commission 135
California’s central valley 17
Campeau, Robert 48
cancelled 15
Capacity 44
capital assets 176
capitalization rate 4, 5, 6, 7, 8, 39, 40, 55, 92, 106, 107, 109, 110, 122, 139, 146, 151, 164, 165, 166, 167, 195, 201, 206
Carrithers, Bill 36
carrying costs 102, 140
cash damages 37
cashiers checks 15, 16
cash-on-cash return 6, 60, 63, 139, 143
cash return 55
casinos 107
Castro Valley 18
cats 13
CERCLA 178, 184
Certified Commercial Investment Member 109
change order 14
Chapter 11 105, 201
Checklists for Buying Rental Houses and Apartment Buildings 9, 72
Chelling, Mark 104
Chicago Creative Investors Association 7
Christiansen, Bill 3
classified ads 32, 33, 40
clearinghouse guarantee 36
Coats, George 23
college student tenants 27
commission 3, 9, 13, 15, 18, 19, 20, 134
Commissioner v. Pickard, 401 F 2d 615 155
community bank 14
Comprehensive Crime Control Act of 1984 180
condemnation 13
condo conversion 57, 92, 106
condos 2, 16, 92
confiscation 182
conservator 45
Consolidated Capital 51, 55, 60, 108, 181
construction costs 127
construction financing 20
construction loan 12, 14
construction period interest 14
Consumer Price Index 121, 124
contamination 33, 189
contingencies 97
contingent liability from operation of building la 9
contingent purchase agreements 65
continuing education courses 90
Contra Costa Times 10
contractors 41
contrarian strategy 89, 100
converted garage 7
Cornell Law Review 41
corporate pension plans 70
corporation 21, 22, 23
Corsicana, Texas 102
cosmetic renovation 2, 38, 39, 94
cost accountants 162
cost-of-living 47
court appraisal 19
Craig Lehmkuhl 104
“cram down” provision 105
Creating Wealth 51, 78
Creating Your Financial Fortress 179
creative finance 105
credit 172
credit-card companies 24
credit rating 27
Crouch, Greg 180
Crow, Trammel 59
D
Daily Commerce 33
Dallas Apartment Association 102
Dallas/Fort Worth 102, 114, 116, 178, 184, 186, 197, 207
deadbeat tenants 64
dealer property 58
dealer status 24, 58, 59, 70, 87, 92, 156, 180, 181, 207
deal-killing 18
Deals That Make Sense 79
death 26, 35, 57, 75, 80, 87, 101, 172, 176
DeBartolo, Edward 48
debt-coverage ratio 9, 137
deed in lieu of foreclosure 46
deedless real estate investing 18, 190
deed preparation 58
deed restrictions 9, 204
Deering’s California Civil Code SS 39 44
Deerings California Probate Code SS 170 1 45
default 23
defeasance 22
deferred maintenance 54, 105, 115
deficiency judgment 43
delayed exchange 16, 188See exchanging
delayed-exchange escrow 16
delayed-exchange facilitator 16
delegating 40
demand 183
Denver 135
department store chain 48
deposit 25
depreciation 5, 15, 58, 70, 121, 138, 139, 140, 143, 147, 152, 156, 162, 163, 169
deregulation 62
Detroit 123, 194, 196
development REITs 57
DiGrazia, Gary 18
DillCo., 33 TC 196 155
disaster areas 191
discount-lien release 21, 24
Disney, Walt 31
DisneyWorld 31
Distressed Real Estate Times 72
Distressed Sales Report 32
distress property 114
Distress Sales Report 43, 45
dividend 60
dormers 3
double-digit appreciation 88, 107
double-digit inflation 125
double escrow 19, 69
double lot 49
Downs, Anthony 123
downturn 118
down-zoned 93
drug abuse 45
Drug Addict Sellers 44
drug dealers 24
drug paraphernalia 44, 46
due diligence 50, 73, 87
due-on-sale clause 141, 157, 160
dumping 61
duplexes ii, 8, 30, 50, 59, 93, 139, 164, 165, 186
Dupree + Scott 138, 166, 167
duty stations 63
E
earthquake 10, 32, 188, 190, 191, 194
earthquake-resistance standards 191
easement 8, 9, 31, 204
easy-come-easy-go syndrome 24
easy-qualifier mortgage 18, 19
Economic Recovery Tax Act 120
efficiency 2
ejection criteria 57
El Dorado County 32
El Monte, CA 205
eminent domain 32
engineer 11
entrepreneurs 47
entry barriers 94
environmental audit 33, 176, 188
environmental laws 190
environmental liability 201
Equitable Real Estate Management 90
equity 44, 103, 109, 111, 116, 121, 127, 134, 156, 180
equity buildup 141
equity ownership 173
escrow 96
escrow officers 91
escrow period 67
ethics 14, 18, 34, 74, 157, 159
Euclid v. Ambler 3
exceptions 22, 25
excess 49
excess depreciation 58
excess proceeds 16, 25, 33
exchange 89
execution lien 24
executor 18, 19, 20
exit barriers 94
expansion-minded 30
expenses 62
expired lien 25
extortion 97
F
Fair Housing Act 188
Fair Housing Amendments 87, 177
fair market value 34, 36
fast buck 68
Federal National Mortgage Association 4
fee simple title 34
felony neglect 44
Ferraro, Geraldine 142
FHA 4, 6
FHA Title I improvement loan 12
Fidelity National Title 44
fiduciary responsibility 91, 206
filthy buildings 103
financing 6, 8, 9, 11, 20, 22, 33, 35, 47, 48, 58, 65, 68, 70, 74, 90, 95, 129, 134, 138, 139, 141, 149, 159, 160
fireproof roofs 165
fire wall 9
First English Church 134
first-year returns 138
Fisher v. Losey 14
fixed price 14, 36, 66, 67, 157, 159, 163
fixed-rate mortgage 14, 126, 127, 128, 177, 182, 183
fixers 11, 38, 72, 79
fix-up 12, 14, 41
flip 10, 18, 19, 94
floating-rate loan 14
floodplain 32
Fontana, CA 205
Forbes magazine 142
foreclosure 5, 6, 10, 15, 16, 17, 18, 19, 21, 22, 23, 24, 27, 32, 33, 35, 41, 42, 43, 44, 45, 46, 50, 56, 57, 67, 69, 73, 74, 76, 86, 100, 104, 116, 129, 135, 136, 137, 155, 160, 185
Foreclosure Hotlist 46
forfeited deposits 97
forgery 45
Fort Worth 102
foundation 3, 11, 130
fourplexes 93
fraud 45
free-and-clear 25, 66, 138, 139, 152
free market buildings 125
FSLIC 116
Fuller, Del 36
full-price offer 10
full-time acquisitors 55
Furey, Ruth 178
G
gamblers 106, 107, 172
Gambler’s Syndrome 107
garage 2
Gardiner, Richard 158
garnish wages 27
Gary, IN 44
gas bill 40
general contractor 14
Georgia Real Estate Investors Association 140
Golden States Lanes v. Fox, 42 Cal Rptr 568 155
gold mining 199
Goodale v. West 37
Goodfriend, Marc 6, 7
good management 60
government intervention 62, 137, 151
Grand Rapids 123
greenmail 205
Griffin, Jeff 44
gross rent multiplier 5, 6, 55, 138, 195, 198, 201
gut rehab 13
H
Haddonfield, New Jersey 150
hardwood floor 13
Hayward 18
hazard insurance 40, 146
Healy, Martin, Jr 65
hedging 12, 14, 177, 182
Hendersen, Scott 116
higher interest rates 87
higher leverage 58
higher profit margins 67
high-priced commercial property 66
high vacancy rate 115
high-yield properties 199
Hinckley, John 150
His Accidency 35
holding periods 8, 14, 63, 69, 94, 109, 110, 164, 167, 196
home equity line of credit 19
Home Equity Sales Statute 46
home mortgage interest 135
home office 9
homeowners associations 69, 148, 149
homestead 24
Horowitz, David 38
hotels 94
How I Turned $1,000 Into $5,000,000 in Real Estate 38, 39, 78, 106, 206
How to Buy Real Estate for at Least 20% Below Market Value 10, 13, 21, 69, 72, 74, 75, 78, 176
How to Find and Buy Your Place in the Country 147
How to Get Started in Real Estate Investment 72, 75, 79, 82
How to Increase the Value of Real Estate 3, 9, 14, 38, 70, 72, 79, 129, 130
How to Manage Residential Property... 3, 40
How to Manage Residential Property for Maximum Cas 110, 196
How to Manage Residential Property For Maximum Cash Flow and Resale Value 72, 79
How to Structure Your Mortgage 22, 72
How to Write, Publish, and Sell Your Own How-To Book 74
Huber, Peter 178
I
illegal addition 204
improvement ratios 147, 203
income properties 4, 5, 55, 63, 67, 88, 89, 90, 92, 93, 100, 101, 102, 109, 110, 114, 116, 117, 120, 121, 122, 126, 130, 131, 135, 136, 137, 138, 139, 140, 143, 144, 146, 147, 169, 176, 183, 201, 203, 206, 207
income statement 109
income stream 109
income tax laws 69
incompetent buyers 30
incompetent lienholder 23
increased property value 65
indemnification 102, 185, 186, 187
Independent Administration of Estates Act 19, 20
Independent Exchange Service 16
industrial tenants 47
inflation 51, 57, 66, 100, 108, 119, 121, 124, 125, 126, 127, 128, 178
injunctions 37
insider knowledge 91
inspection contingencies 19
installment sales 36, 58, 89, 92, 103, 156
institutional lenders 4, 58, 74, 141, 156, 183
institutional mortgage 36, 159
insurable risk 172
insurance 9, 11, 14, 15, 19, 25, 36, 37, 40, 46, 58, 62, 67, 70, 91, 92, 96, 97, 100, 116, 146, 148, 149, 157, 165, 172, 173, 175, 177, 178, 179, 180, 185, 186, 190, 191, 194
insurance-agent-replacement-cost-estimate approach 15
InterCity Express 18
interest-rate futures 14
interest rates 4, 5, 7, 10, 12, 14, 15, 16, 22, 26, 27, 35, 37, 49, 50, 57, 59, 62, 66, 69, 70, 74, 81, 82, 87, 88, 89, 90, 92, 95, 96, 104, 105, 106, 116, 120, 121, 122, 126, 127, 128, 129, 133, 134, 135, 137, 139, 140, 148, 156, 157, 158, 162, 166, 173, 175, 176, 177, 182, 194
investment 67
investment agents 132
investment properties 90
investment real estate 55
investment strategies 63
investment tax credit 139
involuntary lien 26
IRS 14, 156
Irvine Ranch 94
J
Jim Walter Corp. 175
Joe 6
Jonas, Ted 202
Joyal, Esther 24
JS Elm Street Corp 179
judgment creditor 21
judgment investing 26, 27, 38
judgment lien 21, 22, 23, 24, 26, 27
judgment proof 27
judgment release 21
judgments 21, 23, 26, 27, 42, 43, 46, 176, 205
junior judgment holder 21
junior liens 24, 46
Jury Verdict Research, Inc 178
K
Kaluzhny, Ernie 185
Kaplan, Jay 51, 55, 108, 181
keeper properties 141
Kessler, Ernie 23, 43, 46
keys 19
Kinter, Dan 56, 156, 159
Kohlberg Kravis Roberts & Co. 175
Kramer, Bill 8
L
Lancaster, PA 38, 39, 68
land 14, 15
land business 68
land contract 6
land improvements 15
landlocked land 31
Landlording 146
landlord property 181
Land Rush 31
LA Times 50
Law Review 42
lawsuit-based lien 25
Lawton, Oklahoma 198
Lazy 30
lease options 11, 14, 31, 34, 37, 38, 66, 74, 75, 154, 155, 156, 157, 158, 159, 160
Lease Options: How to Buy and Sell Real Estate for 158
leasing agents 59
Leasing Professional 186
left-out expenses 198
legal newspaper 18
lenders 42
leper properties 4, 8, 9, 41, 89, 101, 102, 103, 129, 130, 167
letter rulingSee advance letter ruling
leverage 4, 7, 58, 59, 65, 74, 87, 105, 117, 118, 120, 139, 140, 146, 157, 159, 169, 170, 175, 176
levy 27
Levy, Steven 201
liability 9, 19, 27, 33, 62, 69, 79, 87, 100, 104, 118, 148, 163, 164, 172, 173, 175, 176, 177, 178, 179, 185, 189, 201
Liability 178
lien 21, 22, 23, 24, 25, 26, 27, 42, 157
Lien Release and Partial Satisfaction of Judgment 21
limited partnerships 107
Linder, Steve 104
lines of credit 12
liquid assets 5, 118, 139, 185
liquidated damages 66
liquidity 70, 93, 110, 111, 159, 160
lis pendens 13
listing clients 130
listings 2, 3, 4, 9, 13, 35, 43, 56, 68, 91, 102, 103, 130, 131, 135, 159, 163, 191, 206, 207
litigation 12, 149
Livermore 15
living trust 26
load factor 3, 14
loan documents 141
loan-to-value ratio 4, 48, 58, 59, 74, 108, 117, 118, 127, 139, 141
locksmith 17
Long Island 197
long-term capital gains 58, 92, 155
long-term leases 146
long-time-on-market 102
loss assessment 148
lotteries 107
Louisville 122
lying to a lender 7
M
Maintenance Warehouse 40
malicious harassment 177
management 8, 18, 27, 60, 63, 68, 70, 79, 88, 89, 93, 94, 98, 107, 110, 111, 114, 115, 116, 118, 136, 137, 146, 149, 151, 156, 162, 163, 164, 169, 177, 179, 197
Manhattan foreclosures 136
Manley, Bill 56, 103, 140, 158
Marcus & Millichap 101
margin 3, 9, 16, 17, 39, 68, 83, 184
Marin County, CA 8, 149
market distressed properties 115
market interest rates 134
market value 5, 6, 17, 18, 19, 21, 22, 23, 24, 30, 31, 33, 34, 35, 36, 37, 38, 46, 47, 50, 51, 57, 60, 63, 67, 68, 76, 91, 94, 102, 110, 116, 117, 135, 137, 146, 154, 156, 157, 158, 186, 191, 197
market-wide appreciation 63, 69, 129, 130, 131, 162, 164, 198, 199
Maryland 202
Maryland Bank & Trust Co 185
Maxim Engineers, Inc 184
maximum bid 16
maximum return 59
Means Repair & Remodeling Cost Data 185
Memphis 201
micro-niches 203
mildew 14
Mill Valley 32
Milwaukee 133
Mineral King 31
minimum bid 16
MLS book 9
mobilehome 134, 146, 147
money market rates 88
monitoring well 188
Montara, CA 191
Moore v. East Cleveland (431 US 494) 151
Morse, Frederick 151
mortgage lenders 11, 23, 56, 82, 108
mortgage staying power 118
Muldoon, Jim 38, 39, 40, 68
multiple listing books 2, 135
multiple listing service 3, 4, 5, 9, 56, 91, 101, 102
municipal bonds 170
N
National Association of Realtors 133, 157
National Multi Housing Council 202
National Safety Council 173
negative amortization 51
negative appreciation rates 129
negative cash flow 4, 5, 6, 8, 12, 19, 51, 55, 62, 95, 110, 114, 135, 142, 194
negative-cash-flow property 142
negative operating income 96
net operating income 5, 8, 9, 55, 60, 79, 92, 96, 104, 106, 107, 109, 116, 118, 121, 122, 126, 127, 138, 139, 146, 151, 164, 166, 195, 201, 206
never sell approach 58
New England Economic Review 132
New York 31, 36, 41, 43, 61, 78, 123, 134, 136, 137, 150, 174, 182, 188, 194, 205, 206
Nickerson’s two-to-one ratio 40
Nickerson, William 38, 39, 40, 41, 68, 78, 106, 206, 207
Nicolson, Brandt 16
Nollan 134
noncomforming use 9
nondeductibility 89
non-lender buyers 41, 42, 43
non-passive income 178
nonrecourse trust deed 27
nothing down 7, 10, 50, 51, 57, 74, 75, 76, 77, 78, 87, 105, 114, 156
Nothing Down 51, 78, 79, 83, 183
notice of mortgage default 25, 27, 46
nuisance 26
N.Y. v. Shore Realty Corp. and Donald LeoGrande, 7 178
O
Oakland, CA 10, 32, 151, 206, 207
odd-shaped parcel 32
Odessa, TX 177
office-warehouse 47
oil 61, 83, 84, 123, 125, 164, 165, 185, 186, 188, 189, 194, 196
Oil Patch 57, 70, 175, 176, 182, 183, 194
Old House Journal 38
Olswanger & Michel, Inc. 201
one-bedroom 2, 3, 4, 56, 151, 167
one-story houses 38
Onondaga County 43
operating expense ratio 138, 146, 151, 201
operating expenses 89, 116, 117, 121, 126, 139, 146, 151
operating income 5, 8, 9, 39, 55, 60, 79, 92, 96, 104, 106, 107, 109, 116, 118, 121, 122, 126, 127, 138, 139, 146, 151, 164, 166, 195, 201, 206
optionor 36, 37, 155, 156
options 11, 12, 14, 31, 34, 36, 37, 38, 65, 66, 70, 74, 75, 85, 95, 96, 104, 116, 153, 154, 155, 156, 157, 158, 159, 160, 162, 163, 164, 176, 204
Orange County, CA 123, 124, 203
OREOs (Other Real Estate Owned) 57
Orlando 123
Ortiz, Vincent 150
out-of-pocket expenses 39, 40, 84
overbuilding 57, 60, 69, 87, 93, 100, 114, 125, 135, 169, 173, 175, 196, 202, 203
overencumbered properties 25
oversize lots 50
owner occupancy 4, 9, 47, 149
P
Palm Springs 56
Parisse, Alan 60
parking 9, 49, 50, 151
Park Ridge, IL 185
partnerships 11, 18, 20, 32, 65, 74, 75, 107, 176, 179
passive income 89, 147, 152, 156, 178
passive loss 5, 92, 100, 143, 152
people problems 63
permanent commitment 12
permanent down market 108
personal injury lawsuit 184
personally liable 27, 104, 163, 178, 179
personal property 15, 27, 147, 152, 162, 169
Pesek, Paul 178
pesticide residue 188
pet rocks 34
Philadelphia 5
Pittsburgh, PA 199
Places and Spaces Housing Almanac 5
Places Rated Almanac 198
plottage 31
political risk 5, 87, 93, 95, 135, 183, 186
Ponderosa syndrome 32
porch 14
portfolio 58, 93, 107, 134, 156, 177, 190
Portland, OR 180
positive cash flow 2, 4, 5, 6, 34, 62, 63, 87, 89, 102, 107, 114, 122, 139, 146, 156, 160, 169, 170, 194, 196, 199
possession 97
postponed sale 15
premium 109, 110, 111
Pre-Paid Legal Services, Inc 175
present value 21, 47, 155
price appreciation 92
price-earning ratios 133
price of gold 135
pride of ownership 106, 109, 110, 111
prior deed restrictions 204
probate 18, 19, 20, 26, 33, 69
problem employees 64
problem suppliers 64
problem tenants 64, 98
process-oriented 30
production quotas 135
profitable improvements 69
profit margins 67, 68, 183
Prohibition 78, 180, 181
Prop 13 121, 136, 164
property ownership records 35
property search methods 63
property tax assessment 137
property taxes 5, 13, 24, 32, 92, 95, 116, 121, 136, 137, 146, 164, 177, 194, 198
property value increase 39
property wanted ad 50, 51
prorating 96
Publishers Business Services 88
punitive damages 177, 178, 179, 180
purchase agreement 10, 11, 13, 36, 37, 38, 70, 97, 154, 186, 187, 188
purchase/resale option 204
pyramiding 87
Q
quick-hit tactics 70
quick resale 18
quick sale 6, 7, 19, 50, 51, 70
R
rapport 18, 19, 20
raw land 35, 57, 93, 95, 130
Reagan, President 3
real estate agent 10, 11, 13, 20, 27, 35, 36, 46, 51, 54, 68, 70, 90, 91, 97, 103, 130, 131, 140, 141, 163, 164, 166, 187, 207
Real Estate Brokerage Law SS272) 130
Real Estate Educators Journal 41
Real Estate Exchange and Acquisition Techniques 66
real estate executive 65
Real Estate Finance Techniques 14, 182
real estate investment formula 57
Real Estate Investor’s Monthly ii, 45, 61, 72, 130, 198
real estate newsletters 88
Real Estate Research Corporation 90
Real Estate Today 180
recessions 69, 101, 115, 124, 137, 173, 194
redlining 149
Reed’s Rules for Understanding Income Taxes 138
referee 19
refinancing 6, 7, 27, 46, 58, 89, 92, 116, 137, 140, 141, 188
REITs 57, 106, 107, 108
relationship 14
renewal fees 90
renovation 2, 6, 10, 14, 18, 19, 38, 39, 40, 54, 67, 68, 70, 78, 94, 133, 170, 177
rental houses ii, 4, 5, 6, 8, 55, 93, 103, 138, 139, 140, 152, 154, 158, 175
rental market values 137
rental property 8, 10, 31, 74, 89, 96, 156, 162, 169, 170, 178, 179, 180, 188, 198
rent concessions 118, 136, 202
rent control 5, 61, 69, 70, 87, 93, 95, 110, 124, 125, 126, 135, 137, 139, 146, 147, 167, 173, 176, 177, 182, 183, 186, 194, 197, 202, 203, 205, 207
rent-free 154
rent increases 39, 124, 126, 146, 170
REOs (Real Estate Owned) 35, 116
replacement cost 14, 191
resale 5, 18, 19, 24, 32, 33, 34, 41, 42, 43, 102, 110, 111, 133, 141, 149, 151, 182, 204
Research Triangle, NC 88
reserve funds 114
resident manager ii, 59, 63, 64, 146
Resort Property Owners Association 150
Resource 101
restrictions 134
retail chains 24
retaining wall 11
retirement 184
retrofit requirements 191
Rhode Island 132
Richmond, California 10
right of first refusal 204
risk factors 54
risk/reward characteristics 122
risk taker’s credo 174
Robinson, Leigh 146
role of tenant 64
Romeoville, Illinois 6, 7
roof 2, 3, 11, 13, 14, 38, 56, 98, 130, 146, 149
Rosen, Kenneth 124
Roulac, Steve 47
rural 3, 9, 94, 103, 147, 201
S
Sachs, Dwain 35, 56
Sacramento 17
sale-leasebacks 47, 57
Salomon Brothers, Inc 123
Salt Lake 124
sample homes 49
Sanders, Burt 45, 46
San Francisco 3, 10, 12, 13, 18, 32, 36, 38, 46, 50, 51, 93, 108, 122, 132, 133, 177, 181, 182, 183, 187, 190, 191, 201, 203, 204, 206, 207
San Francisco Chronicle 50, 122
San Francisco Examiner 108, 181
San Jose 13
San Leandro 18
San Lorenzo 18
Santa Barbara v. Adamson (610 P 2d 436) 151
satisfaction of lien 26
Scarsdale, NY 36
Schaub, John 158
Scher, Les 147
S corporations 178, 179
Scott, Mike 67, 88
Seattle 38, 67, 122, 138, 166, 167, 199, 207
second mortgages 23, 79, 116, 117, 118, 129, 143, 169, 170
secrecy 30, 31
secured line of credit 14
securities broker 54
securitization of real estate 107
security deposit 5, 17, 22, 146, 151
Sefton v. San Diego Trust & Savings Bank, 106 P 2d 179
seized 24
selected second mortgages 116
seller financing 33, 58, 68, 74, 95, 129, 141, 159
Senate Finance Committee 136
septic tanks 147
Sequoia National Forest 31
shadow fertilizer 40
sharing percentage 158
sheriff’s sale 24, 27, 105
shifting 198
short holding periods 69, 176
short salesSee discount-lien release
Showdown at Gucci Gulch 183
side-by-side properties 8
Sierra Club 31
simultaneous appreciation 176
single-family ii, 3, 4, 6, 7, 8, 38, 49, 50, 55, 66, 93, 109, 135, 139, 140, 141, 151, 152, 157, 175, 181, 190, 206
Single-Family Lease Options 11, 14, 74, 75, 79, 157, 160
slide 32, 103
sliver 32
slivers 32
small claims court 26
small investors 90
small properties 59
small volume discount 40
Smart Trust Deed Investing in California 23
solar access law 203
sole proprietor 63, 178, 179
something-for-nothing-down 87
Sonoma County 33
South Lake Tahoe 32
specific performance suit 13, 36, 37, 38, 66
speculation 70, 130, 131, 162, 163, 183, 198
speculative mania 120, 121, 125
speed 10, 18, 35, 40, 48, 54, 68, 70, 106, 130, 199
split off land 3
Starker accounts 51
Starr, Ron 32
Statistical Abstract of the United States 173
staying power 114
Stephenson, Jim 68
Stephenson System 68
Stevens, Mark 31
Stockton, CA 15
store room 2
straight-line depreciation 169
straight options 154
straw buyer 31
straw man 23
stress 58
structure component 15
subcontract 39, 40, 98
subdivide 8, 93
subject to 6, 10, 12, 22, 95, 97, 152
sublease 31, 66, 162
Succeeding 72, 73, 82
Sunbelt 136
Sunday New York Times 136
supply 57, 82, 123, 133, 135, 164, 182, 183
surplus 21, 42, 47, 48, 69
surveyor error 32
syndication sales 57, 100, 179
Syracuse, New York 41
T
Tacoma 207
Tappan, Bill, Jr 66, 71
taste 7
taxable bond 88
tax assessor 13, 15, 91
tax auction 31, 32, 33
tax benefits 6, 63, 88, 92, 94, 118, 169, 170, 178
taxes 58
tax-exempt 88, 139
tax liability 104
tax maps 32
tax-oriented syndications 106
tax records 9, 152
tax reform 5, 61, 69, 70, 87, 92, 100, 115, 173, 175, 176, 182, 183
Tax Reform Act of 1984 51
Tax Reform Act of 1986 5, 72, 88, 89, 92, 101, 124, 135, 136, 152, 155, 169, 170, 175, 176, 178, 183
tax shelter 60, 138
tenant-in-common interest 31, 35, 66
tenant mix 59
tenant relations 136, 137
termites 58, 87, 96
Texas 24, 93, 137, 196
Texas Property Code Annotated §41.001 25
The Mobilehome Parks Report 147
The Risk Report 180
Thomas, Ted 21, 23, 45, 67
Thompson, Paul 15
three-bedroom house 2, 3, 4, 6, 15, 151
Tiburon 5
Time 38, 39, 40, 78, 106, 135, 136, 206
time sequence diversification 177
title companies 22, 25, 26, 45, 46, 204
title insurance 19, 25, 37, 46, 58, 149, 157
title problems 33, 69, 103, 129, 148, 149, 167
title report 21, 22, 25
title search 37, 45
to-be-auctioned lots 32
to-be-demolished property 9, 69
Toffler, Alvin 63
torts 23
toxic chemicals 61, 87, 102, 169, 173, 176, 178, 184, 185, 187, 188
toxic contamination 19, 87, 135, 179
toxic liability 27, 69, 172, 173, 175, 176
toxics 87
trade associations 57
transaction costs 2, 5, 7, 51, 58, 89, 92, 93, 139, 141, 159, 169, 183, 204
trees 40, 109, 155, 203, 204
triplex ii, 164
Trump, Donald 54, 142
trust company 68
trust deed 23, 24, 26, 27, 155
trustee sale 24
turnaround management 114, 115
two-bedroom house 2, 3, 4
two-family capital 206
two-on-a-lot houses 8
U
unacceptable real estate 54
unbuildable 32, 103
unconscionable act laws 102
underground tanks/toxics 61, 147, 185, 187, 188, 201
unfit for human occupancy 12, 13, 15
uninsurable risk 172, 174, 175, 177, 179
unrealized potential 59, 70, 87, 94, 107, 164, 199
unsecured extension of credit 22, 23, 24, 74
upgrading 59, 63, 65, 94, 95, 107, 142, 164, 170
upzoning 66, 70, 95, 130, 170
useless property 31, 32, 33, 34, 79, 176
U.S. Housing Markets 203
US v Argent, 21 ERC, 354 BNA, Dist. NM 184
US v Nepacco, 579 F Supp 839 184
V
VA 4, 6, 7, 38, 61, 95, 180
vacancy rate 63, 100, 105, 110, 115, 118, 182, 196, 197, 203
vacant 12, 16, 19, 32, 49, 62, 135, 177, 186
vandalism 17
variable operating expenses 116, 117
variance 49, 50, 103
vertical land 32
view 9, 11, 34, 57, 65, 77, 100, 135, 136, 146, 203, 204, 205
vital statistics 26
voluntary lien 26
vulture funds 114, 115
vulture opportunity 116
vulture strategy 44, 69, 113, 114, 116, 117
W
waiting list buildings 202
Wall Street 107
Wall Street Journal 38, 50, 51, 101, 182
Walnut Creek, CA 100
Walters, Lloyd 23, 26, 176
warranties 96
Washington State 199
waste solvents 61
W.D. Swigart, 40 TCM 1215 156
Wechsler, Steve 41
welsh 12, 13, 36
Weseman v Latham, 153 CA 2d 841 44
Western Land Bank 32, 33
Western Mobilehome Association 147
Whispering Oaks 148
Willy Loman 34
windshield appraisal 16, 19
wipe-out auction 22, 24
workable strategies 66
working capital 66
World Series earthquake 10
write off 23
Y
Yanev, Peter 191
Z
Zaccaro, John 142
zombie savings and loans 116
zoning 3, 9, 32, 49, 50, 57, 59, 66, 96, 97, 134, 135, 151, 182, 183, 207