Americans want to build wealth, but few people really know how. We show our clients low-risk ways to invest in multi-family properties, to create wealth and enjoy financial security.
Building Legacy Wealth Detailed Table of Contents
Here’s a detailed table of contents. If you would like a short version, with only chapter titles, click here.
Increase the Odds of Your Success
The three chapters in this section will help you increase the odds of your success in real estate investing and many other areas of your life.
The Wealthy Thinking chapter demonstrates how to live like the millionaire next door. You’ll learn about living a disciplined and frugal life and about steady, disciplined investing.
The Emotional Intelligence chapter can help you succeed in spite of aggravating people and complex situations.
This section’s final chapter, Understand Your Values and Priorities, enables you to clarify and prioritize what’s important to you. That simplifies your decision making and increases your odds of obtaining your most important results.
Prepare to Invest Profitably in Apartments
This section’s three chapters outline specific things to do before you begin buying, improving, and selling apartment buildings.
The first chapter is Team Up with a Great Broker. You’ll learn how to choose the best broker for you. A great broker has deep knowledge of the market, of course, but he or she will also understand that your broker’s job is to help you make wise decisions. An expert broker is your guide, your protector, and your advisor about relative value, pointing out arbitrage opportunities. Your broker can be a coach, maybe even an accountability partner. Strong processes, or systems, improve communication and accountability, help assure that everything gets done, and focus your attention on the important things.
The chapter, Make Sure You Have a System That Will Work for You Every Time, will help you and your broker develop a system you will use repeatedly as you build your legacy wealth.
Many smart investors had the resources to build their legacy wealth, but they failed because they didn’t understand some truths.
The chapter on Apartment Investing Realities explains many of those truths.
The Wealth Escalator
The next six chapters explain what you will do routinely as you build your legacy wealth. They outline the process of buying a property with the right things wrong with it, improving it, and selling it.
First, A Practical Way to Prioritize Opportunities shows you how to identify the best investment option among a host of properties.
Successful Buying describes my method for making offers on several properties, rather than just one, and why writing back-up offers can help you capture an opportunity you thought was gone.
Successful Operating is an introduction to landlording. You’ll discover the important choices you will make and how rental ownership can affect your legacy.
Renovation Budgets and Strategies teaches about a vital “Power Tool of Investing.” You’ll learn how and when to develop renovation budgets that increase the value of your property and help you build legacy wealth.
Successful Selling explains how to decide when it’s time to sell and the aspects of human nature that may lead to poor selling decisions. You’ll also learn how to price and market your property, and how to develop offers into successful closings.
The next chapter describes an indispensable wealth building tool, 1031 Exchange. This portion of IRS code enables rental owners to defer taxes and keep all your capital working for you and growing.
Your Investment Life Trajectory
This section’s three chapters consider how your investment goals may change with passing decades.
Prolonging Your Capital’s Growth Spurt describes the two ways you extend your capital’s ride on the wealth escalator.
No matter how successful you are at apartment investing, you may decide another vehicle or goal is better. The Moving On chapter outlines four common answers to an investor’s question, “What’s next?”
In Transferring Your Legacy Wealth, I’ll share the three most common ways millionaires attempt to keep their wealth in their family and why they’re rarely successful. Then we’ll consider how to transfer your legacy wealth so that it continues to benefit your family and the causes you support.
A. Supply and Demand
B. Are You Ready to Invest?
C. Due Diligence
D. Loans: How Lenders Determine the Amount They’ll Lend
There is also a Brief Annotated Reading List.