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Investing in Income Properties. The Big Six Formula for Achieving Wealth in Real Estate

  • ID: 2325483
  • Book
  • August 2008
  • 272 Pages
  • John Wiley and Sons Ltd


"Investing in Income Properties is a cogent and well organized presentation of the principles of real estate analysis, financing, and investment. With his ′Big Six Formula,′ Ken Rosen shares his knowledge and experiences on how to analyze and take advantage of commercial real estate investment opportunities. This book should be required reading in all real estate investment courses."
John S. Zdanowicz, PhD, Professor, Finance and Real Estate, and Director of the Jerome Bain Real Estate Institute, Florida International University

"Ken Rosen has a unique ability to make the most complicated seem clear and easy to follow. In Investing in Income Properties, he gives practical steps so that the reader can take action and begin or continue to build wealth by investing in income properties. This book will become the buyer′s bible."
Alex Zylberglait, Associate Director, National Office and Industrial Properties Group, Marcus & Millichap Real Estate Investment Services

"Investing in Income Properties is a step–by–step approach to investing in commercial real estate. It is clear, easy reading with every base covered. This book is a great tool for both the new and seasoned investor."
Donna Abood, Chief Executive Officer, Colliers Abood Wood–Fay, Commercial Real Estate

"Ken Rosen′s style is straightforward and his formula for building wealth is well grounded in the fundamentals nothing fancy or tricky about it! He even puts the would–be investor at ease by addressing the fear factors of real estate investing. Twenty–one years into my career as a real estate investment sales broker, I have met many successful investors, but Ken Rosen clearly stands out as a savvy, self–made entrepreneurial investor who is generously sharing his wealth of knowledge and insight in this very instructive and easy–to–read book."
David L. Meline, Executive Director, Capital Markets Group, Investment Sales

Specialist, Cushman & Wakefield of Georgia Inc.

"One of the best, precise, and accurate real estate books on the market. A must–read for investors at any stage."
Scott K. Sime, Managing Director, CB Richard Ellis Brokerage, Miami–Dade County

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Part One. The Basics.

Chapter 1. Why Commercial Real Estate?

Real Value, Real Ownership, Real Estate.

The Control Factor.

Financing Options.

The Leverage Edge.

Tax Benefits.

Access to Information.

Easy Troubleshooting.

Overcoming Fear.

The Bottom Line.

Chapter 2. Real Estate 101.

What Is Real Estate?

Types of Income Properties.

What Real Estate Can Do for You.

The Search Begins.

Purchase and Sale Contracts.



Real Estate Lingo.

The Bottom Line.

Chapter 3. Assembling The Team.

The Broker.

The Attorney.

The Certified Public Accountant

The Bottom Line

Chapter 4. Getting the Money.

Obtaining a Home Equity Loan.

IRA Accounts.

Cash Value of Life Insurance.

Customized Creativity.

The Use of Options.


Ask Your Banker.

Present Sacrifice for Future Benefits.

The Bottom Line.

Part Two. The Big Six Formula.

Chapter 5. Location: Planting Investment Roots.

Evaluating Locations.

Industrial Properties.

Short–Term Gains and Declines.

Long–Term Gains and Declines.

The Bottom Line.

Chapter 6. Building Quality and Design Efficiency: Ensuring the Long–Term Viability of Your Portfolio.

Class A Buildings.

Class B Buildings.

Class C Buildings.

Class B Apartment Buildings.

Class B Retail Strip Store Centers

Class B Office Buildings.

Industrial Properties.

The Bottom Line.

Chapter 7. Tenant Profile: The Right Fit.

Factor No. 1: Rental Rate and Terms.

Factor No. 2: Gross or Net Lease.

Factor No. 3: Size of Units.

Factor No. 4: Impact of a National Tenant.

Factor No. 5: Right of First Refusal.

Factor No. 6: Potential Condo Buyers.

Factor No. 7: Parking Considerations.

Factor No. 8: Undesirable Mix of Tenants.

The Bottom Line.

Chapter 8. Upside: Maximizing the Return on Your Holdings.

Tenants Can Set the Price of a Building.

Upside Strategies.

The Bottom Line.

Chapter 9. Financing: Choosing the Fiscal Formula that Matches Your Goals.

Before You Begin: Your Credit Report.

Financing Components and Dynamics.


The Advantages of Dealing with Local Banks.

Ideal Financing.

Getting Your Loan Approved.

Private Lenders.

The Romance of Leverage.

Infinity Return.

All–Cash Buyers.

Burn the Mortgage Quickly.

Mortgage Brokers.

Healthy versus Unhealthy Debt.

The Bottom Line.

Chapter 10. Price: Looking Beyond the Price Tag to See the Big Picture.

The Price–Is–Too–High Syndrome.

Things to Know.

The Bottom Line.

Chapter 11. Anatomy of a Big Six Deal.

Adam′s Manor.

The Sellers.

Listing the Property.

The Buyer.

Setting the Stage.

The Buyers′ Strategy.

Sealing the Deal.

Brokers Meet the Sellers.

Now What?

The Bottom Line.

Part Three. Moving Forward.

Chapter 12. Management and Leasing to Enhance Your Investment.

Managing Apartment Buildings.

Managing Small Retail Centers.

Managing Small Bay Warehouses.

Managing Office Buildings.

The Bottom Line.

Chapter 13. Condo Conversions: Big Money in Small Apartment Buildings.

My Start in Condo Conversions.

Criteria for Converting Small Buildings.

Critiquing the Units.

Announcing the Conversion.

Announcing the Improvement Program.

Handling the Unsold Units.

Legal Requirements.

Bradford Terrace: A Mini Case Study.

The Bottom Line.

Chapter 14. One Good Investment is Worth a Lifetime of Labor.

The Shift: by Jeffrey Cohen.

I Came to New York: by Christine Marie.

Love at First Sight: by Tony DeRosa.

If I Never Made Another Deal: by Cliff Suchman.

You Can Never Know Too Much: by Anthony Dilweg and Andy Roberts.

I Made It in Buying: by Kenneth D. Rosen.

The Bottom Line.


About the Author.


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Kenneth D. Rosen is the founder and President of Kendar Realty, Inc., and one of the pioneers of condo conversions. Over the past thirty years, Rosen has bought and sold $300 million in investment real estate, including apartment complexes, office buildings, retail centers, small–bay warehouses, and large acreage tracts. He is past president of the Realtor Association of Greater Miami and recipient of numerous awards, including Miami Realtor of the Year.
Note: Product cover images may vary from those shown