A
accounting rule 75
Adleson, Phillip 68, 69
agreement to not advertise 96
AIG United Guaranty 108, 110, 112, 126, 132
alimony 44
Allen, Robert 40, 58, 89
Alternative Minimum Tax (AMT) 131
American Recovery and Reinvestment Act of 2009 (ARRA) 26
Anchorage, AK 5
Anthenien, Mark 94
appraisal 16, 38, 53, 54, 63, 65
appreciation 2, 3, 4, 5, 7, 8, 9, 18, 29, 44, 56, 66
Article I 129
asset allocation 112
asymmetric risk 132
at-risk rules 29
auction 13, 14, 27, 28, 33, 51, 53, 55, 57, 58, 61, 62, 63, 64, 65, 66, 67, 68, 70, 71, 72, 79, 80, 90, 91, 93, 94, 95, 96, 97, 99, 103, 106
auctioneer 57, 61, 64, 65, 66, 67, 72, 77, 79
B
back-test 12, 13
bad debt loss 11, 26, 27
“badges of fraud” 37
BAIES 22
bailout 1, 107, 109, 110, 111, 113, 133
bank account 33, 47
bankruptcy 11, 13, 14, 26, 29, 30, 33, 35, 37, 38, 39, 40, 41, 42, 43, 44, 45, 47, 52, 62, 64, 66, 89, 90, 91, 114
Bankruptcy Code 37, 44
bankruptcy trustee 90, 91
bargain purchase 1, 2, 5, 8, 9, 13, 14, 22, 37, 38, 44, 53, 54, 58, 62, 75, 77, 78, 79, 84, 85, 86, 87, 88, 89, 93, 96, 101, 106, 113, 114, 136, 141, 151
barter 120, 142, 143
basis 7, 8, 9, 14, 26, 27, 28, 29, 31, 32, 34, 43, 61, 102, 103, 106
Bay Area 55, 61, 80, 87, 102, 127, 148
Bay Area Investors Educational Services 22
Bay Area Investors Educational Services (BAIES) 22, 54, 66, 87
Bear Stearns 107, 124
Beck, John ii, 22, 38, 62, 63, 77, 79, 89, 91, 93, 94, 96, 97, 153
Benjamin Graham 8
best practices 135
Best Practices for the Intelligent Real Estate Investor 117, 118, 140, 141, 147
bill consolidation 50
Bionomics 109
Black’s Law Dictionary 125
Black Watch 39
bond-rating agencies 112
Bruss, Robert 77
business bad debt 27
business cycle 16
BusinessWeek 126, 150, 151
C
California Anti-Deficiency Judgment 80
call option 9, 140
capital asset 28
capital gains 27, 28, 34, 118
capital-intensive business 17
capitalization rate 8, 18, 128, 132, 137, 138, 140, 141, 149
capital loss 26, 27, 28
Case-Shiller Home Price Index 117, 125, 126, 147
cash flow 1, 3, 5, 7, 8, 9, 14, 19, 20, 25, 29, 30, 34, 39, 78, 79, 82, 105, 120, 130, 131, 135, 138, 139, 149, 150
cashiers check 32, 64, 72
cash is king 126
Cassell Brothers, Inc., court case 95
Certified Commercial Investment Member 8
Chicago 53, 78, 79, 126, 149
Chicago Title 53
child abuse 45
China 109, 133, 142
Chrysler 124
Citicorp 108
Citizens for Tax Justice 118
Cleveland, OH 149
closing statement 47
Cold War 124
commission 14, 28, 52, 55, 56, 57, 71, 78, 89, 90
commodities 7, 17, 22, 110, 143, 145,
148
Complete Asset Protection Guide, The 37
consignment shop 48
consumer-finance company 75
Consumer Price Index (CPI) 116, 147, 148
Continental-Illinois 124
Contra Costa Times 88
contrarian strategy 1
correlation 13
Costco 119, 143
countercyclical 113
Countrywide 123
Craig’s List 5, 48, 119, 140, 143
credit default swaps 23, 110
Crittenden, Alan 77
Crittenden Foreclosures for Sale 77
D
Dallas 15
DAMAR 54
data base 53
Dataquick 54
dealer 27, 52
debt-coverage ratio 138
debt forgiveness. See forgiveness of debt
deedless investing 141
deferred maintenance 119, 127
deficiency judgment 32, 123, 124
deflation 116, 147, 148
delayed exchange 65
Del Dotto, Dave 77
demolitions 125
depreciation 26, 27, 28, 34, 52
depression 20
Derby Realty 28
direct mail 51, 52, 54
discharge of indebtedness income 11, 26, 29, 31, 44, 102
discount lien release 97, 101, 125, 129
Distress Sales Report 77
diversification 10, 112, 141
divorce 45
down payment assistance programs 130
drunk driving 44
Dwyer, Jeffrey 25, 153
E
eBay 48
economic free speech 108, 145
Edward Harris 28
Elias, author 11, 14, 89
emotions 16, 17, 19, 39, 44
environmentalists 16
equity 4, 12, 13, 14, 17, 22, 25, 28, 29, 31, 33, 39, 40, 42, 43, 44, 45, 52, 53, 56, 57, 61, 63, 64, 65, 69, 71, 72, 76, 91, 93, 94, 96, 101, 103, 105, 106
equity-to-value ratio 113
estate liquidator 48
eviction 64
excess proceeds 43, 63, 65, 68, 69
exchange 28, 29, 43, 52, 65, 90, 128
extortion 69, 125
F
Fairfield, CA 80, 82, 83, 84, 85, 86
Fair Housing Amendments 16
family ii, 2, 6, 14, 40, 43, 44, 45, 50, 51, 61, 66, 69, 79, 89, 106
FDIC 15, 32, 98, 112, 113, 116, 124, 146, 147, 148
federal deposit insurance agency 75
Federal Express 64, 137
Federal Housing Finance Regulatory Reform Act of 2008 130
Federal Reserve 2, 110, 113, 126, 133, 140, 146, 148, 150, 151
FHA 58, 62, 63, 70, 72, 75, 76, 80, 86, 106, 111, 126, 127, 128, 129, 130, 132
FHA Modernization Act of 2008 130
FHLMC 22, 29, 30, 31, 32, 33, 34, 35, 103, 107, 124, 125, 128, 130, 133
FICO 80
fiduciary relationship 78
financial engineering 23, 111
Financial Services of America 77
Fixers 5, 86
flea market 48
flipping 55, 90, 91, 98, 106
Florida 40, 41, 42, 43, 45, 62, 89
FmHA 75
FNMA 22, 107, 124, 125, 128, 130, 133
Folsom, Burton 133, 144
forced sale value 90, 91, 93
Forced Sale Workbook 93
foreclosure 12, 13, 14, 25, 27, 28, 32, 33, 34, 35, 38, 43, 45, 51, 52, 53, 54, 55, 56, 57, 58, 59, 61, 62, 63, 64, 65, 66, 67, 68, 69, 70, 71, 72, 73, 76, 77, 79, 89, 90, 91, 96, 101, 102, 103, 106
Foreclosure Prevention Act of 2008 128
foreclosure proceeds 28
Foreclosure Research of America™ 76
forgiveness of debt 26, 27, 28, 101, 102, 103
Fortune magazine 4
Freeland 27
G
gains tax 26, 34, 43
garage sale 47
Geithner, Tim 145
gift equity 128
gold 129, 143, 145, 148
Goldman Sachs 151
Goldstein, Arnold 37, 38
Great Depression 8, 16, 20, 109, 113, 114, 115, 117, 119, 120, 124, 132, 136, 137, 140, 141, 144, 145, 146, 147, 148
The Great Inflation and its Aftermath 144
Greene, Jeff 23, 137
grid 119, 120
group ownership 14, 141
H
Harley-Davidson 124
Harvard Business School ii, 107
hazard insurance 57, 96
hedging 23, 108, 117, 121
Helvering v. A.L. Killian Co. 26
Helvering v. Hammel 27
high credit 106
high credit borrower 105, 106
Hinton, Steven 94
156
Distressed Real Estate Times
homeowners associations 82, 86, 87, 127
home price statistics 125
homestead declaration 13, 42, 47
homestead exemption 11, 12, 13, 40, 41, 42, 49
Hope for Homeowners Act of 2008 128
Housing and Economic Recovery Act of 2008 128
Housing Assistance Tax Act of 2008 129
How I Turned $1,000 into $5,000,0000 in Real Estate in My Spare Time 8
How to Buy IRS Seized Properties 94
How to Buy Real Estate for at Least 20% Below Market Value 1, 5, 72, 86, 101, 106
How to File Bankruptcy 11, 14, 89
How to Get Started in Real Estate Investment 138
How to Increase the Value of Real Estate 5, 86
How to Manage Residential Property for Maximum Cash Flow and Resale Value 9, 34, 135
How to Use Leverage to Maximize your Real Estate Investment Return 35
HUD 72, 78, 79, 111
HVAC 34, 85
hyperinflation 143
I
illiquidity 12, 13
IndyBank 124, 125
IndyMac 83, 124
inflation 98, 110, 114, 116, 126, 134, 135, 143, 144, 147, 148, 149, 151
insolvent 26, 27, 28
installment sale 26, 27, 38
insurance claim 47, 67
insurance company 47, 75
insurance policy 47, 53
Intelligent Investor, The 8
interest rate 22, 25, 27, 29, 30, 31, 32, 35, 72, 76, 97, 98, 99, 102
Internal Revenue Code 56, 94, 102
Internal Revenue Manual 93
inventories 134, 151
IRC Section 121 130, 131
Irrational Exuberance 147
IRS 11, 14, 22, 27, 28, 29, 31, 38, 43, 67, 72, 89, 90, 93, 94, 95, 96, 99, 102
IRS lien 67, 72, 93, 94, 95, 96
IRS sale 14, 93, 95
J
James A. Allen 28
J.C. Hawkins court case 28
Johnstown, PA 5
jumbos 22, 125
junior lien 47, 63, 67, 68, 73, 125, 126, 129
K
Kaplan, Larry 78, 79
Kessler, Ernie 76
L
Landlording 141
Larry Loftis 97
late penalty 43
Law of Real Estate Financing, The 25
lawsuit 47, 94
Lehman Brothers 108, 110, 112, 132
Leonard, author 11, 14, 89
leper property 6, 52
Leventhal, Kenneth 44
lines of credit 43, 63, 69, 106
liquidation 12
liquidity 12, 13, 107, 133
Lloyd, Carol 101
loan brokers 123
loan-to-purchase price ratio 106
loan-to-value ratio 7, 14, 22, 42, 105, 106, 128, 135
locksmith 64, 65
Lombardi, Vince 10
long-term lease 106
lose-control balance sheet 12, 13
Lotus 123 61
low-ball offer 82
M
Mackey v. Lanier Collection Agency court case 41
Madison, Michael 25
Margaret E.J. Malmstedt 28
market-timing focus 5
market value 6, 8, 9, 12, 14, 18, 20, 22, 25, 26, 27, 28, 29, 31, 37, 38, 42, 43, 55, 57, 62, 63, 66, 67, 71, 75, 76, 78, 79, 81, 82, 83, 84, 85, 90, 91, 93, 94, 102, 106, 113, 117, 120, 125, 126, 128, 132, 134, 135, 136, 138, 139, 140, 150
Mexico 118, 136, 146, 149
Meyerson, Lawrence C. 40
Middleton 27
military 12, 39, 45, 80, 115, 131
mine plays out 19
mineral rights 19
minimum bid 61, 62, 64, 65, 66, 72, 93, 94
mobilehome park 16
moderate income 80
Moody’s 106, 112
Moore, Michael 146
Mortgage Forgiveness Debt Relief Act of 2007 26
mortgage impound account 47
mortgage-insurance company 75, 126
move-up buyers 128, 151
M/PF Research 15
Multiple Listing Service 5, 54, 90, 91
Murphy’s Law 87
N
National Bureau of Economic Research 13
national debt 109, 110, 142, 145, 146, 147
negative equity 28, 29, 31, 39, 123, 124
New Deal 109, 121, 138, 144, 145, 146, 147
New Jersey ii, 37, 53, 70, 71, 72
New York 42
Nicholson, Brandt 65
Nietzsche, Frederich 80
Index
157
non-conforming 128
nonjudicial sale 93, 95
nonrecourse 30, 31, 32, 33, 39, 114
non-recourse loan 10, 25, 27, 29, 30, 31, 32, 33, 39, 80, 103, 123, 133
nonseller loan 26
notice of default 51, 54, 56, 62
Novak, Edward 54, 55, 56, 68
O
Obama, Barack 109, 115, 117, 118, 119, 120, 121, 122, 123, 136, 137, 140, 142, 144, 146, 147, 148
office building 15
Office of Federal Housing Enterprise Oversight (OFHEO) 125
Office of Thrift Supervision 124
Oil Patch 15
Oklahoma City 5
open house 89
operating expenses 8, 34, 122, 132, 139, 149
option 9, 25, 37, 48, 56, 58, 111, 120, 123, 134, 140
OREO 14, 67, 70, 75, 76, 77, 78, 102
overbids 90
owner-occupied 80, 106, 123
P
panic 22, 108, 110, 124
partition lawsuit 94
partners 14, 56
passive capital gain 27
passive income 26, 31, 102
passive investment 112
passive losses 26, 31, 34, 42, 102, 121
Paulson, Henry 23, 107, 137
Paulson, John 23
pawn shop 48, 140
payoff statement 62
peak value 1
peanut butter 11
pension funds 12, 40, 41, 42, 52
Perano, Dante 77
Perfect Storm 42, 115, 132
Perot, H. Ross 12
personal liability 28, 29
Peterson, Pete 147
phantom gain 12, 28
Pioneering Portfolio Management 126
political risk 137, 144
Ponzi Scheme 3, 21
positive cash flow 5, 7, 8, 9, 19, 30, 78, 79, 82, 120, 135, 139, 149
post-bankruptcy balance sheet 13
postponements 6, 55, 62
prepayment 29, 34, 43, 56
price variability 13
principal residence 12, 13, 26, 43, 128, 130, 144, 150
Profit by Investing in Real Estate Tax Liens 97
Property Acquisition Guide, The 77
property management 39
property taxes 1, 28, 47, 67, 72, 82, 87, 97, 130, 135, 137, 139
property tax refund 47
Proposition 13 87
protectionist laws 118, 136
publicity 39
purchase price adjustment 26
put options 117
Q
quick sale value 51, 71, 75, 78, 91, 93, 102
quitclaim deed 28
R
raw land 28
Real Estate Investment Strategy 106
Real Estate Investor’s Monthly 68, 91
Realtor’s® National Marketing Institute 8
rebalance 112
rebate 47
recession 1, 2, 15, 20
reckless driving 44
recourse 4, 10, 25, 27, 29, 30, 31, 32, 33, 34, 35, 39, 96, 103
redemption period 72, 94, 96
reduction of debt 26
refinancing 21, 26, 35, 43, 57, 64, 79, 94, 105
Reich, John 125
Reid, Harry 31, 125, 126
reimbursable expense 47
REIT index funds 21, 113, 116, 117, 141
relationships 78
Renauer, author 11, 14, 89
renegotiation 10, 25, 26, 29, 30, 31, 32, 35, 39
rental income 18, 123
rent control 6, 16, 19, 121, 122, 137, 144, 145
rent security deposit 47
REO Guide 77
REO Realty Registry 77
REO Registry 77
replacement cost 1
reset dues 82
residence 43
Residential Property Acquisition Handbook 3, 19, 86
resident manager 49
Resolution Trust Corporation 75
Revenue Reconciliation Act of 1993 26
reverse mortgages 130, 132
right of redemption 28, 93, 95, 96
risk management 108, 111, 115
Robinson, Leigh 141, 153
Rockne, Knute 10
Roger and Me 146
Rothschild, Michael 109
S
sales pairs 125
Samuelson, Robert 144
San Francisco Chronicle 101, 127, 132, 145
San Francisco Chronicle’ 101
San Ramon Valley Times 132
Santana 10
Schumer, Charles 124, 125, 126
screening 53
sealed-bid auction 94
SEC 108
second mortgage 28, 62, 125, 132
self confidence 44
self-storage 141, 142
seller financing 25, 27, 76, 125
selling short 22, 81, 108, 113, 117,
158 Distressed Real Estate Times
137
septic system 16
serial home selling 120, 130
sewage treatment plant 16
shared-appreciation mortgage 129
Sherwin A. Hill court case 28
short sales 81, 84, 101, 102, 103, 108, 114, 117, 125, 126, 137
short-term capital loss 27
Siegel, Marty 42
Small Business Administration 75
small claims court judgment 105
Smoot-Hawley Tariff 109, 146
socialism 109, 110, 117, 118, 119, 121, 124, 133, 148
sophisticated seller 76, 105
Sowell, Thomas 133
Starr, Ronald 77, 93, 96
Statistical Abstract of the United States 91
stock market 4, 5, 8, 9, 10, 16, 17, 18
student loan 44
subprime 20, 22, 23, 80, 81, 83, 88, 107, 108, 109, 110, 111, 113, 123, 124, 126, 127, 128, 131, 132, 137, 151
sub-prime meltdown 20, 21, 22, 23, 56
Succeeding 117, 122, 138
Success in Short Sales 101
Swenson, David 126
T
Take This House, Please! 77
TARP 110, 144
tax credit 82, 129, 151
Tax Foundation 118
tax liability 11, 14, 26, 42, 43, 47, 102
tax lien certificates 97
Tax Reform Act of 1986 2, 11, 15, 19, 34, 39, 42, 137, 144
tax refund 47
tenant-in-common interest 94
termite inspection 53
testimonial 52
Texas ii, 1, 5, 15, 29, 32, 33, 35, 39, 40, 41, 42, 43, 62, 102, 123, 124, 135
Thomas, Ted 13, 38, 40, 44, 51, 52, 53, 90
Thompson, Eileen 89, 90
Thompson, Paul 38, 61, 62, 63, 64, 65, 91
title insurance 13, 22, 25, 47, 53, 62, 90, 91, 96
title search 14, 53, 62
too big to fail 108, 124
Touche Ross 44
toxic contamination 4, 6, 11, 16, 19, 66
transaction cost 25, 43, 97
Treasury Inflation Protected Securities (TIPS) 110, 112, 116, 143, 148
triage 45
Trump, Donald 58, 149
Tufte, Edward R. 132
Tufts 28
U
Unconventional Success 126
underwater 81, 84, 87, 101, 114, 123, 125, 129, 138, 139
unemployment 15
Uniform Fraudulent Conveyance Act 37
Uniform Fraudulent Transfers Act 37
uninsurable 19
uninsurable risk 19, 108, 112
upgrading 9, 10, 86, 112, 117, 120, 127, 141
V
VA 58, 70, 75, 76, 79, 86, 106, 131
vacant 3, 4, 22, 55, 64, 65, 67, 70, 72, 75, 78, 81, 82, 83, 89, 94, 111, 113, 131, 135, 138
vandalism 66, 70, 72, 75, 87, 88, 141, 151
vandalism risk 66, 72, 75
VA repos 79
variable costs 138, 139
vehicle accident claim 44
Visual Diplay of Quantittavie Information 132
Volcker, Paul 144
W
W-4 47
Wall Street Journal 22, 123, 126, 132, 137
Walsh, Bill 10
Weekly Standard 147
well runs dry 19
Wells Fargo 84, 101, 151
West Point 39
Woodland, CA 94, 96
Wriston, Walter 108, 145
www.choicepoint.com 69
www.consumerlaw.org/news/ForeclosureReportFinal.pdf 56
www.fiendbear.com/bearenc1.htm 17
www.homesales.gov/homesales/mainAction.do 59
www.johntreed.com/Gattentrust.html 57
www.johntreed.com/Graham.html 8
www.realpage.com/yieldstar 15
Y
Yale University 126, 137
Z
zero-based budgeting 115
Zillow 129