How to Invest in Condominiums The Low-Risk

A simple proven method for improving cash flow so you can live rent-free and retire early How to Invest in Condominiums provides a simple, low-risk blueprint for building cash flow by buying and renting out condominiums. You can provide for your retirement or improve your monthly income by investing in income-producing real estate at a very low risk to the capital you invest. Unlike stocks and bonds, real estate is immune to inflation and a fluctuating stock market and also provides some shelter from taxes-and the return on investment typically exceeds that of the average Wall Street investor! The author includes a plan for getting started and a detailed record of his investments that shows how he grew a considerable cash flow-with only a small commitment of time and effort. This straightforward, realistic guide will help you: * Use this method to establish long-term cash flow * Avoid owning a money-losing rental unit * Use professional property management to save time and money * Avoid "fixer-uppers" v Keep your long-run effort minimal * Live rent-free and retire early! How to Invest in Condominiums is a reliable and realistic way to supplement your income. There are no gimmicks and no strings attached and this is not a get-rich-quick scheme. It's a long-term plan that will help you meet-and surpass-your long-term goals.

ANDRIS VIRSNIEKS is a former accountant for Boeing and a former cost analyst for the Department of Defense. His method for buying and holding condominiums, as described in this book, allowed him to retire at an early age.

Preface

xi

Introduction

xv

Not a Bear or a Bull, but Always a Cash Cow

1

(10)

Seven Easy Condominiums

11

(22)

Principles for Selecting the Right Condominiums

33

(32)

Why Condominium Investments Succeed

65

(14)

Why Condominiums and Not Apartments or Houses?

79

(24)

Condominiums versus Stocks and Bonds

103

(34)

What Next and How Far Can You Go?

137

(14)

An Act of Faith Is Still Required

151

(6)

Epilogue

157

(2)

Appendix A Negative Cash Flow but Still Making Money

159

(2)

Appendix B Positive Cash Flow---Rent 10% Higher Than in Appendix A

161

(2)

Appendix C No Leverage---Same As Appendix A Except No Mortgage Payment

163

(2)

Appendix D Worst-Case Scenario without Leverage---Same as Appendix C Except No Rent

165

(2)

Appendix E Fifty Percent Increase in Rent---with Leverage

167

(2)

Appendix F Fifty Percent Increase in Rent---Same as Appendix E but without Leverage

169

(2)

Appendix G Worst-Case Scenario with Leverage---Same as Appendix A Except No Rent

171

(2)

Appendix H King County Home Sales, Seattle Post-Intelligencer, February 28, 1997

173

(2)

Appendix I Rate of Return on Investment from Rent (Net Income) and Price Appreciation

175

(2)

Appendix J Rate of Return Calculation for Condominium Number 2

177

(2)

Appendix K Rate of Return Calculation for Condominium Number 5

179

(2)

Appendix L More Recent News about Condominiums and Real Estate

181

(6)

Glossary

187

(6)

Endnotes

193

(6)

Index

199

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How to Invest in Condominiums The Low-Risk Option for Long-Term Cash Flow

Summary

Author Biography

Table of Contents

Supplemental Materials