Income Property Basics

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Introduction & Overview

      This e-course is designed to provide a basic general introduction to income producing real estate. T his course will take you step-by-step through the basics of selecting, buying, managing and selling income property, including how to select a property, analyze it for profit potential, write a chase contract, perform detailed analysis and inspection, manage it, and eventually sell it.  A pre-course quiz will test your existing knowledge of the subject and a final quiz will allow you to see how much you learned.  You may repeat all or parts of the course as many times as desired.  Many of the issues covered in this course are covered from a different aspect or in more detail in various Web pages throughout the CSES family of Webs as well as in other e-courses.

A Certificate of Course Completion is now available for this Course.

      This e-Course is a collection of some of the information that can be found in greater depth in the following e-Courses :

• Buying & Selling Income Property
• Buying Foreclosures
• Valuing Income Property
• Managing Income Property
• Evictions
• Collecting Judgments

Other Resources

• Member-Only Glossary where one can search for terms or keywords related to subject matter
• Public Glossary
• For additional information on the below topics see RHOL's Rental Web , Invest Web , and Manage Web .

Preliminary Quiz  (not yet operational)

Lesson 1 - Why Invest In Real Estate?

• Cash flow

• Long term appreciation

• Tax shelter

• Resale for quick profit

• You inherited some

Lesson 2 - Terminology, History & Concepts

• Terminology

• Concepts

• History

Lesson 3 - Acquiring The Property

• Finding The Property
  • Print Advertising
  • Signs
  • Real Estate Agents
    • Why Use an Agent
    • Selecting an Agent
  • Special Sources
  • New Construction
• Selecting The Property
  • Commercial vs. Residential
  • Many Small vs. Few Large
  • Location
  • Timing
  • Age & Condition
  • Price
  • Tax Ramifications

Lesson 4 - Making A Deal

• Pre-Offer Property Analysis

  • Strategies

  • Legal Issues

  • Physical Inspection

  • Financial Analysis

  • Environmental

• Writing the Offer
  • General
  • Contract Forms
  • Price & Terms
  • Deposit
  • Personal Property
• Contingencies
  • Financing
  • Title Report/Insurance
  • Financial Records
  • Lease Documentation
  • Lead-Based Paint Disclosures
  • Insurance Policy
  • Inspections
    • Structure & Components
    • Survey
    • Environmental
  • Estoppel Certificates
• Post-Offer Analysis & Inspections

  • Legal Issues

  • Documentation

    • Verification of Facts

    • Financial Analysis

  • Inspections

Lesson 5 - Financing the Property

• Introduction

  • Differences from Personal Residence

  • Using a Mortgage Broker

  • Security Instruments

• Loan Costs

• Sources of Loans

  • Seller Financing

  • Private Lenders

  • Mortgage Investors

  • Savings & Loan Associations

  • Commercial Banks

  • FHA

  • Insurance Companies

  • Pension Funds

• Funding the Down Payment

  • Home-Equity Loan

  • Refinancing an Existing Mortgage

  • Business Loan

  • Borrow Against Stocks & Bonds

  • Unsecured Personal Loans

  • Secured Personal Loans

  • Loans From Retirement Plans

  • Borrow Against Life Insurance Policy

• Investors

  • Syndication Vehicles

  • Securities Laws

• What Lenders Need and Look For

Lesson 6 - Closing Escrow

• Vesting

• Pre-Closing

  • Licenses & Permits

  • Estoppel Certificates

  • Insurance

  • Preview Loan Documents

  • Pre-Closing Statement

  • Transfer/Initiate Services

• After Closing

Lesson 7 - Property Management

• General Management
  • Using a Property Manager
    • Reasons to Use
    • Selecting One
  • Accounting
    • Outside Services
    • Doing It Yourself
• Maintenance
  • The Law
  • Resources

• Landlord-Tenant Laws

  • History

• Civil Rights

• Federal Fair Housing Laws

• Americans With Disabilities Act

• Health & Safety

  • Health

  • Safety & Security

• Forms & Agreements

  • Applications

  • Contracts

  • Checklists

  • Letters

  • Legal Notices

  • Court Forms

  • Forms Web

• Filling Vacancies
  • Advertising
  • Screening
  • Selecting

• Deposits & Rents

• Evictions & Collections

Lesson 8 - Disposing of Property

• Why Do It

• When to Do It

• How to Do It

  • Gift It

  • Sell It

  • Exchange It

• Marketing

  • Pricing

  • Preparation

  • Documentation

  • Legal Issues

• Counter Offers

  • Contingencies

• Transfers & Terminations

• After Closing

Summary & Conclusion

Final Quiz  (not yet operational)