How I Made My First Big Pay Day in Real Estate

by Philip Elmes

Overview

Real estate is a Last Frontier where an entrepreneur with very little capital and the right preparation can earn Big Pay Days right from the start. This Beginner's Guide draws from the personal in-the-trenches experience of Philip Elmes, for over 40 years a professional real estate broker, syndacator, developer and rehabber. Topics include: • Why Entrepreneurship trumps conventional investing every time; • "When Sales Are Slow, Try Buying," (it's what smart investors do); • finding and raising "private money" (OPM) for your deals; • the down side of "flipping" real estate; • what to look for and how to buy distressed, foreclosed properties; • income and tax issues; and much more. Each discussion or section concludes with Action Steps you can take to get your program underway. Supplements offer guidance in finding and contracting to buy project properties, preparing a Personal Financial Statement and Business Plan, and aids in developing and executing a Marketing Plan. A practical, Real World guide to building a successful, sustainable real estate portfolio and business. #

Product Details

BN ID:	2940153019307
Publisher:	Philip Elmes
Publication date:	05/12/2016
Sold by:	Smashwords
Format:	eBook
File size:	1 MB

About the Author

Philip Elmes began his real estate career in 1973 as a part time sales associate. He did his first syndacation, a method new at that time for assembling investors in a partnership to acquire real estate. Within his first year, he undertook his first rehab as a dealer, a modest single family row house on the south side of Chicago. The combination of syndacation and rehab for resale characterized his methods for years to come.

Beginning in the late 1990s, after losing substantially all his investments and savings, Phil turned to investing in and rehabbing single family and smaller multi-family properties, mostly for resale. In early 2000 he founded the Urban Rehabber Program, a training and coaching program for newcomers to real estate investing and rehabbing; this program continues today (see Urban Rehabber website for more).

Phil and his wife Agatha have two adult children and now live in southeast Wisconsin. In addition to his teaching and coaching, Phil is author and presenter of numerous seminars and workshops on real estate investing and rehab.