The Second Homeowner's Handbook: A Complete Guide for Vacation, Income, Retirement, And Investment [Paperback]

Jeff Haden (Author)

Book Description

Publication Date: July 30, 2006

According to a study released by the National Association of Realtors, second homes accounted for more than a third of residential real estate transactions in 2004. There is no better time than now to buy that second home you’ve been thinking about for getaways, vacations, investment, or retirement. Low interest rates, tax savings, rising appreciation, and effortless financing make it simple to profit from a second home. Now is the time for that second home, before the prices climb even higher. Recent figures from the National Association of Realtors show an upward trend in the number of second homes purchased for investment purposes. Investing in a second home now will be a great way to increase your net worth when you retire, if done properly. This book explains how to invest profitably in a vacation or future retirement home. Your second home can be for living, to re-sell, or even rent. This comprehensive guide presents proven tactics to make your second home a smooth and profitable transaction. You will learn precisely what to look for in a real estate investment, buying prospects, how to rent the place for up to 14 days and pocket the income tax-free, and how to make your current home groundwork for potential real estate investments, how to find the best opportunities, negotiating, financing, budgets, needs and wants, credit reports, home-buying timeline, the process of building a house, manufactured homes, real estate and mortgage glossaries, setting values, home warranties, homeowners insurance, creative financing, buying with little or no money down, closing, moving plans, walk-throughs, closing and settlement inspections, legal contracts, mortgages, what you can afford, deciding which neighborhood to choose, hiring a realtor, which government agencies can help, considerations for veterans, IRA use, hiring an attorney, the offer, calculating monthly payments, and escrow. This book is a must-have for the investor considering a second home.

Editorial Reviews

Review

"...I encourage all prospective buyers of vacation homes and residential investment property to benefit from this valuable resource.” --Karen A. Ebert, REALTOR®, RMP, MPM, e-PRO

About the Author

Jeff Haden bought his first home while still in college; since then he’s invested extensively in residential and commercial properties in five states. He has also written extensively on real estate investing, mortgages, and personal finance. A graduate of James Madison University, he is also President of BlackBird Media, an advertising agency and book publishing services provider.

Product Details

• Paperback: 352 pages
• Publisher: Atlantic Publishing Company (FL) (July 30, 2006)
• Language: English
• ISBN-10: 0910627746
• ISBN-13: 978-0910627740
• Product Dimensions: 9.1 x 6.1 x 0.9 inches
• Shipping Weight: 1.2 pounds (View shipping rates and policies)
• Average Customer Review: 4.8 out of 5 stars  See all reviews (8 customer reviews)
• Amazon Best Sellers Rank: #886,881 in Books (See Top 100 in Books)

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Customer Reviews

Most Helpful Customer Reviews

6 of 7 people found the following review helpful:

3.0 out of 5 stars Not good for the vacation property renter, July 1, 2008

By 

Dr. Jena Questen "Jena Eddy" (Denver,Co) - See all my reviews
(REAL NAME)   

This review is from: The Second Homeowner's Handbook: A Complete Guide for Vacation, Income, Retirement, And Investment (Paperback)

We rent our second home as a vacation rental, and I was hoping this book would have more practical information on this topic. Although the book does contain a lot of good information on other topics, it does not contain much anything of use for someone looking for help managing their vacation rental.

3 of 4 people found the following review helpful:

5.0 out of 5 stars A Good Guide for the Second Homeowner, October 17, 2006

By 

Patricia Hughes (Pennsylvania) - See all my reviews
(REAL NAME)   

This review is from: The Second Homeowner's Handbook: A Complete Guide for Vacation, Income, Retirement, And Investment (Paperback)

Whatever your reason for purchasing a second home, this book is a great guide. The book covers every possible use of a second property: your own residence, renting for additional income and flipping for a profit. The benefits of owning a second home are discussed and tips for performing a self assessment and establishing your goals are included.

This book helps you understand the process of real estate transactions from start to finish. If you plan to buy additional properties in the future, the book has great information for determining what to look for in a property, locating properties and developing a good relationship with your real estate agent. You will learn a lot about analyzing and comparing properties to help you find the best second home for your needs.

Once you have selected a property, the book helps you learn the basics of mortgages. There are great tips to help you secure the best possible terms on your loan. Information on creative financing is also provided. After you have purchased the property, this book is still valuable. There is great information about managing and improving the property after you have made the purchase.

2 of 3 people found the following review helpful:

5.0 out of 5 stars Valuable information for any homeowner, October 24, 2006

By 

K. Steinbarger (ME, USA) - See all my reviews
(REAL NAME)   

This review is from: The Second Homeowner's Handbook: A Complete Guide for Vacation, Income, Retirement, And Investment (Paperback)

This book outlines smart financial moves to make even if you are not planning on buying a second home. The tips covered are useful for buying or selling a first home also - items such as how to analyze property or loans, and how to increase the resale value of a home are important in any real estate transaction. For those who are interested in buying a second home, the purchase, financing, and maintenance of residence, rental, and rehab properties is covered in detail. There are clearly written guides which relate the procedures required to hold a second home for monthly income or increase long term wealth.
The writing is well organized and easy to understand, with excellent descriptions and testimonials from those who are already experienced in the business of real estate. An extensive glossary at the end is helpful for readers who are unfamiliar with real estate terms and phrases.