Foreword xiii
Introduction 1
PART I: THE DECISION TO INVEST 7
Insight 1: The Economics Behind the US Market 9
Insight 2: Finding the Treasure with the Property Goldmine Scorecard 18
Insight 3: Let Quality Research Drive the System 21
Insight 4: Dig for Specific Information and Ignore Generalities 26
Insight 5: Jobs, Infrastructure, and Gentrification 29
Insight 6: A Closer Look at Three States 36
PART II: THE DISTRESSED PROPERTY MARKET 45
Insight 7: Learn to Identify a Distressed Property 47
Insight 8: Understand the Fundamentals of the US Foreclosure Process 52
Insight 9: Commit to the Number One Rule, Then Get Your Options Straight 55
Insight 10: More on Due Diligence 61
Insight 11: Avoid the Snake-Oil Salesman 66
Insight 12: Recognize That a Bad Area in the United States Is Very Different from a Bad Area Elsewhere 75
Insight 13: Look for the Stability of a Good Neighborhood and Follow First-Time Homebuyers 80
Insight 14: Choose Your Exit Strategy Before You Make the Deal 84
Insight 15: Know Your Financing Options and Obstacles 91
Insight 16: Understand the Real Estate Cycle 96
Insight 17: Find the People Who Can Help You Find Foreclosures 105
Insight 18: Benefi t from the Five Profi t Centers of Real Estate 113
Insight 19: What a Full-Service Real Estate Investment Group Offers 118
Insight 20: Analyze Your Deal 123
PART III: RENOVATIONS AND MANAGEMENT 135
Insight 21: Work Smartly with Contractors and Subcontractors 137
Insight 22: Weigh Reno Must-Haves with Nice-to-Haves 143
Insight 23: Dial Up the Intellect (Dial Down the Emotions) 148
Insight 24: Do the Big Four Renos on a Rental Property—Now 152
Insight 25: Get Everything in Writing 157
Insight 26: Curb Appeal: You've Got Seven Seconds to Impress Me 161
Insight 27: Run If You Spot Any of the Top Three Reno Red Flags 165
Insight 28: Hire the Right Property Manager 172
Insight 29: Make Money by Delegating to Your Property Manager 177
Insight 30: Set the Rules Up Front with Your Property Manager 180
Insight 31: Be Smart about Rent Collection 184
PART IV: CROSS-BORDER TAX PLANNING 189
Insight 32: Understanding US Tax Laws 191
Insight 33: Taking Title to Your US Property Investments 197
Insight 34: Deal with Depreciation 202
PART V: LEGAL PLANNING 213
Insight 36: The Three Pillars of Real Estate Asset Protection 215
Insight 37: Develop an Asset Protection Plan and Be Prepared to Avoid Lawsuits 219
Insight 38: Counter Threats to Your Wealth with Foresight 222
Insight 39: Draw Up a Blueprint for Your Estate Plan 226
Insight 40: Steer Clear of Asset Protection Fakes, Scams, and Planning Errors 233
PART VI: CROSS-BORDER BANKING AND FINANCING 239
Insight 41: Understand Cross-Border Issues 241
Insight 42: Familiarize Yourself with US Mortgage Financing 245
Insight 43: Buy US Real Estate Property with Other People's Money 248
PART VII: INSURANCE AND INVESTMENTS 253
Insight 44: Insure Your Investment 255
Insight 45: Carry Insurance Beyond the Property Line: Medical, Auto, and Third-Party Liability 262
Appendix: Considerations for Buying a Second Home 266
Index 269
About the Authors 274
Richard Dolan (Toronto) is the CEO and Senior Analyst of the U.S. Property Shop, a U.S. real estate capital advisory and research company based in Toronto.?Dolan has co-designed two certification programs, Certified Wealth Management & Marketing and Selling Wealth Management Services, which are offered at the Schulich School of Business, York University.
Don R. Campbell (Vancouver) is a Founding Partner of the Real Estate Investment Network(tm).?He is a leader in providing Canada's most current real estate investment education programs and economic research materials, and is the author of the best-selling Real Estate Investing in Canada 2.0 and co-author of 97 Tips for Canadian Real Estate Investors; Real Estate Joint Ventures; and Secrets of the Canadian Real Estate Cycle.
David Franklin (Toronto) is counsel to The US Property Shop and an expert on Canadian and US real estate.
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