- Publisher: BG Publishing
- Edition: First
- Available in: Paperback, PDF, Kindle
- ISBN: 978-0-936977-03-4
- Published: May 20, 2013
How to Succeed as a Real Estate Investor
Unlike books that claim to contain the secret to “get rich quick,” How I Made Millions in Real Estate and How You Can Too detail the long-term strategy author and long-time real estate investor James Edward Glasgow Sr. uses and explains step by step how anyone can achieve the same level of success and economic security in these difficult times without taking unnecessary risk in order to assure themselves lifelong financial security.
Glasgow walks the reader first through how to develop the right mindset and mental habits to train oneself to follow through with the desire to be rich, and lists and explains the traits and habits of successful people. He tackles the core reason why many people dream of being rich but never follow through—the fear of investing and how to overcome that.
From there, Glasgow details each step he took when he was starting out investing in real estate and discusses how to find the right property (including how to figure out what exactly constitutes the right property and what to look for) and how to identify and secure solid financing, including some low-risk sources most never consider.
Glasgow shares precious investing secrets, tips, and ideas, and reveals where profits can be found in real estate, what property improvements pay off, particularly in residential rental properties, and which ones are a waste of time and money. Pointers on issues such as how to avoid tenant problems and reduce risk to secure a comfortable retirement are also provided.
Glasgow explains in detail how to word and negotiate a Contract for Sale (including listing specific clauses and why it’s important to fight to include or exclude them), how a buyer should perform due diligence, how and when to profit by making one’s own repairs and improvements (sweat equity) and when it’s best to obtain professional help. He even discusses how to organize the necessary record keeping and keep accounts clean and easy to manage, both for the investor and the IRS.
Glasgow makes his book, How I Made Millions in Real Estate and How You Can Too, both an informational tool and a solid reference book, by including sample documents that anyone can source to use over and over, from the worksheet he designed to analyze a property’s potential to letters to potential investors, including a prospectus and specific subscription solicitation for limited partner investment units.
Anyone who reads How I Made Millions in Real Estate and How You Can Too will learn a great deal about how to start their future in real estate investing while limiting risk and maximizing profit, in order to build an economically secure future.
Why listen to James Glasgow? A businessman with 45 years of experience in business management, both as a corporate executive and a small business owner, he has been a real estate investor for 32 years, investing in residential rental properties, office buildings, and commercial properties. He calls himself a “buy and hold” and Owner Finance investor, buying and holding properties for long-term appreciation as well as current cash flow, to greatly reduce risk and enhance profits.
Glasgow is currently the principal of Gem Rental Properties LLC and manages his own portfolio of properties and mortgage notes. The CEO of www.gemrentalsllc.com and www.texashomenotes.com, he blogs about real estate on www.towardswealth.com
Table of Contents
CHAPTER ONE – Decide to Be Rich
Two Types of People
The Traits and Habits of the Successful
CHAPTER TWO – What Are You Afraid Of?
Overcoming the Fear of Investing
What Have You Got to Lose?
CHAPTER THREE – Plan to Be Rich
CHAPTER FOUR – Preparing to Get Underway
Don’t Eat Your Children!
The Employee Who Wouldn’t Work Overtime
Making a Living
Borrow Yourself Rich
Save Yourself Rich
CHAPTER FIVE –Riches through Real Estate
Make Millions from Real Estate
What Type of Real Estate Investor Do You Want to Be?
Real Estate Investments by Property Types
Ways to Invest in Real Estate
Ten Common Errors of Beginner Investors
CHAPTER SIX – Getting Started
Make the Deal
Buying Rental Houses
When and Where to Buy Rental Real Estate
Train Yourself to Spot Opportunities
Where the Real Estate Profits Are
Real Estate Profit Secrets
Real Estate Buying Tips and Ideas
Know When Real Estate Is Priced Right
Options to Buy
CHAPTER SEVEN – Getting the Money to Invest
Your Credit Rating and Cash
Partners and Family Members
Traditional Loan Sources
Untraditional Loan Sources
CHAPTER EIGHT – Real Estate Financing
CHAPTER NINE – Contract for Sale
CHAPTER TEN – Up to and Closing the Deal
CHAPTER ELEVEN – After the Closing
Home Improvements that Pay
CHAPTER TWELVE – Troubleshooting
Avoiding Tenant Problems
CHAPTER THIRTEEN – Recordkeeping
CHAPTER FOURTEEN –Real Estate Limited Partnerships
CHAPTER FIFTEEN – Retirement Income Ideas
A Rental House Solution
Buy Mortgages – Be a Lender
Providing Mortgages Can Make You 10 Percent or More
So, You Want to Retire Early?
The Man Who Did Not Sell His Property
Too Much House, Too Little Income
Traditional Retirement Methods
CHAPTER SIXTEEN – GEM Real Estate Properties, LLC. How I Built a Million-Dollar Real Estate Company
The First Investment Property – 2010
Our Second Purchase – 2010
Purchase: Midcrown Office Building
Purchase: Doublewide Trailer Home
Purchase: 340 Taft House
Getting the Money to Expand
CHAPTER SEVENTEEN – Think Rich
How Much Is “Rich?”
Thinking Rich Concepts
Learning to Think Rich
Opportunities Happen Every Day
What If $100,000 Came Your Way?
Money Is a Tool
CHAPTER EIGHTEEN – Real Estate Q&A
A Letter to Potential Investors
C Subscription to Limited Partner Units
D Referral Form
E General Partner Résumé
F Property Evaluation Form