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Business Plan Flipping Homes - PDF

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					                                          INDEX




A                                                  D
Average Monthly Rent, 85                           Dealer, 13, 14–16, 17, 18, 20, 41, 42, 44, 48,




                                                                      AL
                                                        121, 122, 126, 135, 136
B                                                  direct mail, 48, 49
Back door exits, 98–99
broadcast fax, 57
business plan, 2, 18, 19, 21, 105, 112–113,
                                                   E
                                                              RI
                                                   entry strategy, 19, 20
                                                            TE
    114                                            escape clauses, 98
buy and hold strategy, 5, 23, 24–25, 27            exit strategy, 19, 21
                                                     MA

buy and sell strategy, 5
                                                   F
C                                                  financial statements, 2, 60
capital gains, 11, 12, 21, 111                     flipping, 1, 3, 4, 17, 18, 20, 23, 29, 30, 35, 41,
                                              ED



capitalization rate, 26, 29, 83–85, 86, 88,             57, 71, 106, 111, 122, 136, 139, 162, 187,
     89                                                 188, 194, 195, 216, 218
cash flow, 2, 3, 12, 84, 85, 86, 88–89, 105, 106,   for sale by owners, 39, 40, 43, 44, 45, 51–52
                                        HT




     144, 145, 146, 147, 162, 165, 204             foreclosures, 16, 39, 40, 52, 53–54, 156, 165,
cash flow analysis, 2, 3, 12, 60                         167, 168, 171
classified ads, 39
                                   IG




classified advertising, 42–43                       H
clearly defined objectives, 18–19                   handyman, 42, 43, 124
                              R




closing process, 2, 117–119                        HELOC, 5, 108, 109, 162
Concessions, 99–100
                           PY




Conventional mortgages, 105–107                    I
cost approach, 58–59, 178, 179, 183                income capitalization approach, 58, 60–61, 71,
credit score, 2, 105, 112, 113–115, 165                80, 178, 179, 183
                    CO




                                               279
                                               INDEX


Intermediate term investors, 12, 18                  real estate investment clubs, 39, 40, 45
internal rate of return, 85                          real estate owned, 15, 16, 47
IRR, 85                                              real estate portfolio, 2, 3, 11, 23, 25, 213, 214,
                                                          217
L                                                    real estate publications, 39, 40, 44, 48, 49
leverage, 5–6, 12, 18, 108, 146, 148, 149, 153,      red herring technique, 92, 100–101, 102
     162, 165, 167, 170, 171, 172                    Refinance Analyzer, 85, 86, 87, 89
local bank, 15, 47, 72, 105, 106, 107–108, 109,      rehab manager, 122, 123–124
     112, 117                                        REO, 15, 16, 47–48, 194
Long term investors, 12                              Retailer, 11, 23, 24, 26, 29, 30, 41, 169
                                                     ROI, 83, 84, 90, 198
M
model, 2, 17, 65, 67, 68, 69, 70, 75, 83, 87, 113,   S
    182, 188, 195, 196, 197, 198                     sales comparison approach, 58, 59, 61–62,
money talks approach, 92, 101–102                         178
Mortgage brokers, 106, 107, 112, 124                 Scout, 13–14, 16, 17, 18, 20, 121–123, 158
multifamily, 2, 3, 26, 44, 63, 70, 71, 72, 179       settlement statements, 117
Multiple Listing Service, 29, 44, 135                Short term investors, 12
                                                     single family, 2, 3, 17, 20, 23, 26, 29, 39, 41,
O                                                         44, 57, 58, 62, 63, 77, 79, 80, 91, 94, 132
O.P.M., 5–6                                          Symphony Homes, 18, 35, 37, 79, 94, 100, 139,
office manager, 122, 123, 139                              145, 149, 151, 157, 166, 177, 199
options, 12, 17–18, 39, 148, 155, 171, 172, 176
other people’s money, 5, 6                           T
owner financing, 65, 106, 110–111                     the value play, 17, 23–37, 70, 71, 77, 90
                                                     The Value Play Rehab Analyzer, 65, 66, 70, 78,
P                                                          82, 188, 193, 198
Partnerships, 14, 106, 111–112, 164                  time horizon, 4, 12
post-entry strategy, 19, 20, 74, 129, 130, 135,      title company, 117, 118, 122, 123, 125–126,
    137                                                    130
Preplanning, 134, 135                                transfer tax, 118
profit margins, 11
Property Location, 29–30, 31                         U
property’s physical condition, 4, 29, 31–37, 57,     underwriting guidelines, 2, 77, 105, 110, 115–
    98                                                   117
proprietary model, 2, 65, 188
                                                     V
R                                                    vacant properties, 39, 40, 52–53
real estate agents, 14, 15, 29, 39–42, 44, 45, 48,
     49, 51, 67, 79, 92, 122, 126–127, 135, 156,     W
     159, 195                                        web sites, 39, 40, 44–45



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