A
Accelerated Cost Recovery System (ACRS) 5
adjustable rate mortgage (ARM) 6, 122
affluent tenants 18, 19
Aggressive Tax Avoidance for Real Estate Investors 23, 27, 33, 96, 119, 120, 167
AGT 115
“all appropriate inquiry” 46
Allen, Robert 122
alternative minimum tax (AMT) 5
aluminum wiring 84
American Bar Association (ABA) 35, 40
American Law Institute 34
American National Standards Institute 52
Americans for Democratic Action (ADA) 18
analysis paralysis 1
anti-rent control laws 5, 20
apartment association 17, 21, 22, 48, 111
Apartment Market Study 13
appreciation 5, 8, 12, 13, 127
The Art of the Deal 9
asbestos 3, 7, 43, 44, 45, 65, 69, 75, 79, 85, 87, 89, 91, 100, 141, 145, 152, 155, 157
assumability 7, 113, 122
attorney 7, 26, 33, 34, 35, 36, 37, 38, 39, 40, 41, 43, 113, 115, 116, 119, 125, 126, 135, 136, 137
author 36, 48, 122
B
balloon payments 99, 121, 122, 123, 124
bar associations 34, 36
bar (night club) 53
Beck, John 37
Bennett, Mark 44
Berkeley, CA 18
Best Practices for the Intelligent Real Estate Investor 1, 2, 8, 25, 167
Beverly Hills, CA 19
Board of Realtors 22
Boston, MA 15, 18
Bruss, Robert 33
The Builders 15
building inspection service 28
Buxton, Sir Thomas 24
buyer’s broker 25
C
calculated risk 6, 7
capitalization (cap) rate 12, 13
Carnegie, Dale 38
cash flow 6, 8, 9, 13, 25, 117, 121, 122
cell phones 25, 52
Census 19, 20
CERCLA 46
certifications 37, 38
Certified Commercial-Investment Member (CCIM) 22, 37
Certified Commercial Real Estate Specialist 37
Certified Environmental Audit Reviewer 45
Certified Environmental Risk Auditor 45
Certified Environmental Risk Screener 45
“Chamber of Commerce” speech 6
charitable organizations 11
Cherry Hill, NJ 19
Churchill, Winston 19
classified ads 20, 23, 25
code of ethics 40
colleges 19, 23
commission 21, 22, 23, 24, 25, 26, 28, 113, 125
common areas 89, 106
Comprehensive Crime Control Act of 1984 10
Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA) 13
computer 25, 30, 45
Consolidated Capital 23, 122
Consumer Product Safety Commission (CPSC) 60, 84
contact sport 23
contamination 2, 7, 8, 13, 14, 43, 44, 45, 46, 120
Index
169
Contemporary Authors 36
Content, Tatusko, and Patterson 46
contingency clause 28, 116
contingency period 28
continuing education 33, 34, 38, 45
convention 35
Craigslist.org 23
credit 6, 9, 13, 29, 30, 44, 100, 120, 122, 138, 163, 164
crime 10, 11, 14, 91, 96, 139, 143, 147, 151, 153, 159
crimp connection 84
cross collateralization 126
cross default 126
Crouch, Greg 48
D
Dallas/Ft. Worth, TX 15, 21, 22, 27
DC 18, 19, 46, 167
debt-coverage 121
debt-coverage ratio 121
Deed-Chek 115
deedless investing 8
demolition 43
depression 8
designation 37, 45
Detroit, MI 19
direct mail 23
discount 8, 19, 52, 124, 127
down payment 21, 56, 127
due-on-sale clause 122, 127
Dupree + Scott 13, 121, 167
Durham, Tom 43
E
earthquakes 15, 87, 105, 167
Economic Recovery Tax Act of 1981 5
Employee Eligibility Verification 130
engineer 14, 44, 45, 47, 48, 49, 56, 59, 60, 96
engineering firm 28, 29
environmental audit 7, 43, 44, 45, 46
Environmental Data Resources 45
environmental law 35, 46
environmental liability 43, 46
estoppel certificate 118, 131
Excel 25, 165
exchange 23, 27, 33, 36, 40, 41, 96, 100, 116, 119, 120, 137, 139
F
fax 28
Federal Emergency Management Agency (FEMA) 14
Federal Home Loan Mortgage Corporation (FHLMC) 7, 47
Federal Housing Administration (FHA) 63, 122
Federal National Mortgage Association (FNMA) 13
federal rent control 19
FedEx 28
fire 6, 40, 63, 83, 84, 118, 134
first-year expensing 119
fixed-rate mortgage 7, 122
Fixers 8
flat roof 48, 96
flood 6, 14, 15, 53, 54
foreign 23, 120
G
Gallagher, Barry 41
Google 36
GoogleMaps 28
H
Handbook for Public Playground Safety 60
high-rise 19, 20
Home Buyer’s Guide to Environmental Hazards 46
How to Buy Real Estate for at Least 20% Bellow Market Value 8
How to Get Started in Real Estate Investment 2, 24
How to Increase the Value of Real Estate 8
How to Manage Residential Property for Maximum Cash Flow and Resale Value 111, 130, 167
How to Win Friends and Influence People 38
HVAC (heating, ventilating, and air-conditioning) 28, 47, 95, 96, 119, 157
I
Illumination Engineering Society of North America 52
Immigration and Naturalization Service 130
Income/Expense Analysis: Conventional Apartments 111, 167
inflation 5, 6, 20, 110, 111, 112
inspections 1, 23, 44, 45, 49, 51, 63, 84, 131
installment sale 96
Institute of Real Estate Management 103, 111, 167
insurance 11, 14, 15, 37, 43, 44, 45, 46, 48, 49, 52, 61, 85, 105, 110, 113, 116, 118, 126, 130, 131, 136, 137, 138
interest rates 6, 7, 8, 12, 121, 122, 123, 124, 127
Internet 28, 129
J
Jansen, David 19
Jasper, FL 43
170
Checklists for Buying Rental Houses and Apartment Buildings
K
Kansas City, MO 15, 36
Kaplan, Jay 23, 122
L
Lansdowne, PA 43
lawn care 61
lawsuits 8, 10, 54
Lexicon Environmental Associates, Inc. 44
Liberace 19
liberals 18, 19
lighting 7, 52, 53, 54, 84, 98, 148, 154
liquidity 7, 13
litigation 6, 56, 98
loan constant 12
loan-to-value ratio 126
Loopnet.com 23
Los Angeles 19
M
Macomb Township, MI 43
mailboxes 61, 89
mailing list 22
A
Accelerated Cost Recovery System (ACRS) 5
adjustable rate mortgage (ARM) 6, 122
affluent tenants 18, 19
Aggressive Tax Avoidance for Real Estate Investors 23, 27, 33, 96, 119, 120, 167
AGT 115
“all appropriate inquiry” 46
Allen, Robert 122
alternative minimum tax (AMT) 5
aluminum wiring 84
American Bar Association (ABA) 35, 40
American Law Institute 34
American National Standards Institute 52
Americans for Democratic Action (ADA) 18
analysis paralysis 1
anti-rent control laws 5, 20
apartment association 17, 21, 22, 48, 111
Apartment Market Study 13
appreciation 5, 8, 12, 13, 127
The Art of the Deal 9
asbestos 3, 7, 43, 44, 45, 65, 69, 75, 79, 85, 87, 89, 91, 100, 141, 145, 152, 155, 157
assumability 7, 113, 122
attorney 7, 26, 33, 34, 35, 36, 37, 38, 39, 40, 41, 43, 113, 115, 116, 119, 125, 126, 135, 136, 137
author 36, 48, 122
B
balloon payments 99, 121, 122, 123, 124
bar associations 34, 36
bar (night club) 53
Beck, John 37
Bennett, Mark 44
Berkeley, CA 18
Best Practices for the Intelligent Real Estate Investor 1, 2, 8, 25, 167
Beverly Hills, CA 19
Board of Realtors 22
Boston, MA 15, 18
Bruss, Robert 33
The Builders 15
building inspection service 28
Buxton, Sir Thomas 24
buyer’s broker 25
C
calculated risk 6, 7
capitalization (cap) rate 12, 13
Carnegie, Dale 38
cash flow 6, 8, 9, 13, 25, 117, 121, 122
cell phones 25, 52
Census 19, 20
CERCLA 46
certifications 37, 38
Certified Commercial-Investment Member (CCIM) 22, 37
Certified Commercial Real Estate Specialist 37
Certified Environmental Audit Reviewer 45
Certified Environmental Risk Auditor 45
Certified Environmental Risk Screener 45
“Chamber of Commerce” speech 6
charitable organizations 11
Cherry Hill, NJ 19
Churchill, Winston 19
classified ads 20, 23, 25
code of ethics 40
colleges 19, 23
commission 21, 22, 23, 24, 25, 26, 28, 113, 125
common areas 89, 106
Comprehensive Crime Control Act of 1984 10
Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA) 13
computer 25, 30, 45
Consolidated Capital 23, 122
Consumer Product Safety Commission (CPSC) 60, 84
contact sport 23
contamination 2, 7, 8, 13, 14, 43, 44, 45, 46, 120
Index
169
Contemporary Authors 36
Content, Tatusko, and Patterson 46
contingency clause 28, 116
contingency period 28
continuing education 33, 34, 38, 45
convention 35
Craigslist.org 23
credit 6, 9, 13, 29, 30, 44, 100, 120, 122, 138, 163, 164
crime 10, 11, 14, 91, 96, 139, 143, 147, 151, 153, 159
crimp connection 84
cross collateralization 126
cross default 126
Crouch, Greg 48
D
Dallas/Ft. Worth, TX 15, 21, 22, 27
DC 18, 19, 46, 167
debt-coverage 121
debt-coverage ratio 121
Deed-Chek 115
deedless investing 8
demolition 43
depression 8
designation 37, 45
Detroit, MI 19
direct mail 23
discount 8, 19, 52, 124, 127
down payment 21, 56, 127
due-on-sale clause 122, 127
Dupree + Scott 13, 121, 167
Durham, Tom 43
E
earthquakes 15, 87, 105, 167
Economic Recovery Tax Act of 1981 5
Employee Eligibility Verification 130
engineer 14, 44, 45, 47, 48, 49, 56, 59, 60, 96
engineering firm 28, 29
environmental audit 7, 43, 44, 45, 46
Environmental Data Resources 45
environmental law 35, 46
environmental liability 43, 46
estoppel certificate 118, 131
Excel 25, 165
exchange 23, 27, 33, 36, 40, 41, 96, 100, 116, 119, 120, 137, 139
F
fax 28
Federal Emergency Management Agency (FEMA) 14
Federal Home Loan Mortgage Corporation (FHLMC) 7, 47
Federal Housing Administration (FHA) 63, 122
Federal National Mortgage Association (FNMA) 13
federal rent control 19
FedEx 28
fire 6, 40, 63, 83, 84, 118, 134
first-year expensing 119
fixed-rate mortgage 7, 122
Fixers 8
flat roof 48, 96
flood 6, 14, 15, 53, 54
foreign 23, 120
G
Gallagher, Barry 41
Google 36
GoogleMaps 28
H
Handbook for Public Playground Safety 60
high-rise 19, 20
Home Buyer’s Guide to Environmental Hazards 46
How to Buy Real Estate for at Least 20% Bellow Market Value 8
How to Get Started in Real Estate Investment 2, 24
How to Increase the Value of Real Estate 8
How to Manage Residential Property for Maximum Cash Flow and Resale Value 111, 130, 167
How to Win Friends and Influence People 38
HVAC (heating, ventilating, and air-conditioning) 28, 47, 95, 96, 119, 157
I
Illumination Engineering Society of North America 52
Immigration and Naturalization Service 130
Income/Expense Analysis: Conventional Apartments 111, 167
inflation 5, 6, 20, 110, 111, 112
inspections 1, 23, 44, 45, 49, 51, 63, 84, 131
installment sale 96
Institute of Real Estate Management 103, 111, 167
insurance 11, 14, 15, 37, 43, 44, 45, 46, 48, 49, 52, 61, 85, 105, 110, 113, 116, 118, 126, 130, 131, 136, 137, 138
interest rates 6, 7, 8, 12, 121, 122, 123, 124, 127
Internet 28, 129
J
Jansen, David 19
Jasper, FL 43
170
Checklists for Buying Rental Houses and Apartment Buildings
K
Kansas City, MO 15, 36
Kaplan, Jay 23, 122
L
Lansdowne, PA 43
lawn care 61
lawsuits 8, 10, 54
Lexicon Environmental Associates, Inc. 44
Liberace 19
liberals 18, 19
lighting 7, 52, 53, 54, 84, 98, 148, 154
liquidity 7, 13
litigation 6, 56, 98
loan constant 12
loan-to-value ratio 126
Loopnet.com 23
Los Angeles 19
M
Macomb Township, MI 43
mailboxes 61, 89
mailing list 22
Martindale-Hubbell 36
masters degree 33
Mayer, Martin 15
meters 52, 54, 57, 84, 86, 98, 129, 134, 140, 155
Miami Beach 17
Michigan Bankers Association 43
Moran, Jud 43
Mortgage Bankers Association 43
mortgage broker 48
Moscone, George 19
N
National Association of Realtors 37, 103
National Multi Housing Council 17
negotiations 1, 2, 24, 36, 95, 99, 114, 115, 144, 161
net operating income 12, 17, 103, 104, 121
Newark, NJ 19
newspaper 18, 20, 21, 107, 131
New York City 10, 18, 19
Nixon 5, 19, 20
Northwestern Center for Professional Eduction 34
Nothing Down 122
NYU 34
O
Oakland, CA 9, 18
obsolescence 7
overbuilding 5, 6, 7, 8
P
Palm Springs, CA 19
parking 31, 52, 53, 59, 60, 96, 97, 102, 117, 140, 143, 147, 151, 153, 159, 165
passive loss limits 5
payroll 61, 106, 111
PCBs 7, 88, 100, 141, 145, 152, 155, 157
phased audits 44
Philadelphia, PA 19
phone 21, 22, 25, 28, 29, 34, 35, 36, 39, 85, 100, 129, 135, 138, 141, 163
playground 60
political risk 6
Pollution Engineering 45
pools 54, 58, 98, 101, 106, 111, 131, 148, 154
Practising Law Institute 34
prepayment bonus 123, 124, 127
prepayment penalty 124
pride-of-ownership 12
prime neighborhoods/properties 11, 12, 13
property tax assessments 17, 99, 106, 109, 110, 130, 140, 152
property-wanted ads 23
Proposition 13 5, 18
Q
Quicken 25
R
radium 43
The Real Estate Institute 34
real estate investors associations 22, 131
Real Estate Investor’s Monthly ii, 8, 25, 167
Realtors National Marketing Institute 22, 37
recession 8
rental comps 101
rental value 11, 101, 111
rent control 5, 6, 17, 18, 19, 20, 33, 39, 109
replacement reserves 111
resident manager ii, 111, 130, 153
right of first refusal 127
risk 1, 6, 7, 8, 10, 11, 12, 14, 15, 22, 25, 40, 43, 44, 45, 54
Rizzo, Joyce 43, 44
Roddy Apartment Ownership Guide 22
roofs 14, 45, 47, 48, 51, 52, 56, 57, 59, 96, 100, 106, 111, 119, 139, 140, 143, 144, 147, 151, 153, 155
R.R. Bowker 36
S
San Francisco, CA 12, 15, 18, 19, 23
San Francisco Chronicle 12, 23
Santa Monica, CA 18
school district 15, 102
Seattle, WA 13, 43, 121, 167
security guard 7, 53
Index
171
seller financing 51, 116, 120, 123
seminars 33, 34, 35, 38, 123
senior citizens 19, 20
separate meters 84
Shawnee Mission School District 15
60 Minutes 18
slide risk 14
slums 9, 10, 15
snow 60, 63, 97, 140, 144, 148, 152, 154, 159
software 25, 30
speculator 6, 8
spreadsheet 25, 30, 165
Starker 23
state law 17, 33, 104, 117, 118, 120
storage 3, 7, 13, 51, 61, 63, 72, 85, 103, 129
subcontractors 41, 61, 130
Subject Guide to Books in Print 36
subordination clauses 124, 126
substitute collateral 124
Succeeding 22
sunset clauses 126
Swanson Environmental, Inc. 43
T
tanks 43, 75, 85, 96, 129, 134, 136, 139, 143, 151, 153, 157
tax attorney 33
Tax Reform Act of 1986 5, 7, 25
technological improvements 7
tenant-in-common interest 8
tenant majorities 19
termites 43, 45, 47, 83, 131
Texas Apartments 48
time and materials 41
title insurance 43, 44, 113, 116, 118, 131, 137
toxics 2, 6, 7, 8, 13, 44, 45, 46, 120
trade associations 35
trade journals 23, 36, 48
Trump, Donald 9
TurboTax 25
U
underground storage tanks 3, 7, 13, 85
utilities 5, 101, 110, 129, 134
V
VA 122
Van Dyke, Dick 19
video 28, 29
W
W-4 130
wage-and-price controls 19
Wall Street Journal 6, 23, 59
water pressure 76, 99, 140, 144, 149, 152, 155, 157
Wharton School, Executive Education 34
Who’s Who 36
withholding 130
Witkin, James 46
wraparound mortgage 125
Y
Yellow Pages 22, 28, 37, 43, 45, 48