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    Achieving Wealth Through Real Estate: A Definitive Guide To Controlling Your Own Financial Destiny Through a Successful Real Estate Business
    Achieving Wealth Through Real Estate: A Definitive Guide To Controlling Your Own Financial Destiny Through a Successful Real Estate Business
    Achieving Wealth Through Real Estate: A Definitive Guide To Controlling Your Own Financial Destiny Through a Successful Real Estate Business
    Ebook136 pages1 hour

    Achieving Wealth Through Real Estate: A Definitive Guide To Controlling Your Own Financial Destiny Through a Successful Real Estate Business

    By Kirill Bensonoff

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    About this ebook

    Have you ever thought about making money with real estate? Do you want to start your own business and be financially independent? In Achieving Wealth Through Real Estate: A Definitive Guide To Controlling Your Own Financial Destiny Through a Successful Real Estate Business, author and entrepreneur Kirill Bensonoff takes you through the process of starting your own real estate business step-by-step. This is your all-in-one digital pocket guide to everything you need to know about successfully investing and profiting from real estate.

    After you have read this book, you will know everything that it took other investors years to figure out – how to register the best legal structure, how to avoid paying excessive taxes, how to write a great business plan and be able to raise capital, and how to use technology to outperform your competition. You will also learn how to use various tools to find tough to find off-market properties that nobody else has access to. By the end of this short read, you will have all of the information needed in order to start successfully investing in and profiting from real estate.

    Kirill Bensonoff is an experienced American real estate investor and serial entrepreneur. Kirill’s current position is co-founder and Chief Product Officer of New Silver, a tech-first non-bank loan originator, with a vision of making the private lending process fast and easy for the borrower, while minimizing risk for the originator.

    LanguageEnglish
    PublisherKirill Bensonoff
    Release dateDec 19, 2019
    ISBN9780463463130
    Achieving Wealth Through Real Estate: A Definitive Guide To Controlling Your Own Financial Destiny Through a Successful Real Estate Business
    Author

    Kirill Bensonoff

    Kirill Bensonoff is an experienced American real estate investor and serial entrepreneur with multi-million dollar exits in the technology industry. He has been published or quoted in national business, real estate and technology media, including Inc., CNN, Forbes and Huffington Post, among many others. Kirill’s current position is as co-founder and Chief Product Officer of New Silver, a fintech startup focused on hard money lending. New Silver is a tech-first non-bank loan originator, with a vision of making the private lending process fast and easy for the borrower, while minimizing risk for the originator. New Silver’s technology allows borrowers to get approved for a loan online, in under 10 minutes, and close within 7 days. Kirill is also the host of The Exchange With KB podcast, in which he interviews prominent founders and business leaders. The podcast is focused on quick actionable takeaways from leaders in technology, entrepreneurship, venture capital, trading, real estate, blockchain, and investing. Prominent guests interviewed since 2018 include Anthony Pompliano, Caitlin Long, Adam Draper, and Alex Mashinsky.

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      Book preview

      Achieving Wealth Through Real Estate - Kirill Bensonoff

      1.png

      Copyright © 2019 Kirill Bensonoff

      All rights reserved. No part of this book may be reproduced, stored, or transmitted by any means—whether auditory, graphic, mechanical, or electronic—without written permission of both publisher and author, except in the case of brief excerpts used in critical articles and reviews. Unauthorized reproduction of any part of this work is illegal and is punishable by law.

      This book is for information purposes only, and does not constitute any offer, solicitation, tax, legal or investment advice. Any business is inherently risky and reader is responsible for making their own decisions.

      Because of the dynamic nature of the Internet, any web addresses or links contained in this book may have changed since publication and may no longer be valid. The views expressed in this work are solely those of the author and do not necessarily reflect the views of the publisher, and the publisher hereby disclaims any responsibility for them.

      Contents

      Introduction

      Crunching the Numbers

      Chapter 1: Going Solo Or Partnering?

      Learn Your Facts

      Choosing A Niche

      To Partner, or Not To Partner?

      Structuring Your Business

      Chapter 2: Creating A Business Plan

      The Business Plan

      Marketing Your Business

      Finding Off-The-Market Deals

      Chapter 3: Budget And Financing

      Calculating ROI

      On Income and Taxes

      Short-term vs Long-term Capital Gains

      Lending 101

      Funding Fundamentals

      Bank or Private Lenders

      What Is A Hard Money Loan?

      Chapter 4: Finding Properties And Avoiding Pitfalls

      The Internet

      Foreclosure Auctions

      Short Sales

      Wholesalers

      Off Market Properties

      Location, Location, Location

      The Retail Effect

      Data For Investors

      The Million Dollar Question: Why?

      The Other Side of the Coin: Why Not?

      Pitfalls To Avoid

      Chapter 5: Technology, Explained

      Online Listings

      Electronic Transactions

      Online Funding

      Property Management Tech

      Building with Blockchain

      Working With Virtual Reality

      The Internet of Things

      Adding Artificial Intelligence

      Chapter 6: Preparing For Sale

      Be Nicer To Neighbors

      Know Your Market

      Don’t Cut Corners

      Best Flipping Features

      Choosing Great Contractors

      When The Fix Is Done

      Chapter 7: Property Management

      What is a Property Manager?

      When To Hire

      Selecting a Property Manager

      The Property Manager Interview and Agreement

      Managing Carrying Costs

      Chapter 8: Taxes And Expenses

      Taxes

      Insurance

      Loan Payments

      Utilities

      Marketing

      Chapter 9: Marketing A Property

      Set Up Social Media

      Follow the Competition

      Take Better Photos

      Sponsor Community Events

      Send Out a Newsletter

      Invest in Advertising

      Use Direct Mail

      Collect Client Testimonials

      Build a Nice Website

      Create Content

      Chapter 10: Exit Strategies

      Reconsider your pricing

      Rent it out

      Wholesaling

      Lease options or rent to buy

      Planning For Windfalls

      Conclusion

      Resources

      Real Estate and Business Podcasts

      About The Author

      Introduction

      Getting Started

      If you’re reading this, you’ve taken the first step towards launching your own successful real estate-based business. Maybe you are a real estate investor with some experience in the industry, or maybe you are a less experienced entrepreneur looking to break new ground with your first project. Either way, this book will give you key insights into the motivations, niches, and applications that can unlock the full potential of being a real estate entrepreneur.

      US President Franklin D. Roosevelt famously once said:

      Real estate cannot be lost or stolen, nor can it be carried away. Purchased with common sense, paid for in full, and managed with reasonable care, it is about the safest investment in the world.

      Real estate has always been a relatively safe method of building wealth, with many of the biggest entrepreneurial moguls across the globe holding portfolios with plenty of real estate. For the last two centuries, up to 90% of the world’s millionaires¹ created their wealth through real estate investing, and today, the real estate industry remains the largest asset class² in the world.

      Taken together, it’s clear that, even in today’s world of modern investing methodologies, no investment strategy has withstood the test of time quite as well as real estate.

      Wealth building is arguably the biggest draw for real estate investing today, just as it was back when Roosevelt was president. Whether investors are buying and renovating undervalued properties, purchasing and holding property, or using real estate to benefit from tax incentives—there are plenty of strategies available for building long-term wealth, each with their own methods of achieving success.

      Starting your own business is a journey toward wish fulfilment, gratifying work, and independence. As an entrepreneur starting your own business, you’ll experience more freedom than an office job could ever offer, more independence to make your own decisions, and, once your business is established, even the privilege of not having to miss out on the more important things in life.

      While many find working for themselves more fulfilling than working for someone else, starting a business is also about taking off the rose-colored glasses, taking calculated financial risks, and making sacrifices when needed to keep the wheels turning.

      Crunching the Numbers

      The motivations for starting your own real estate business are obvious—many real estate entrepreneurs manage to work less but earn more than their peers in other industries simply by owning property.

      In 2019, fix and flips made up 7.2 percent of all home sales, earning average gross profits of over $60,000. Landlords had similarly promising outcomes, with the average monthly asking rent increasing by almost 50% in the last ten years.

      Recent research has shown that both housing starts and building permit numbers have increased to a twelve year high in 2019. Meanwhile,property resales are the highest they have been in the last year.³ Similarly, reports on the construction of new homes are showing a projected increase of 8% for 2019 alone⁴. Even though the housing market can fluctuate year-by-year, it’s expected that

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