HOW TO MAKE MONEY IN REAL ESTATE WITH GOVERNMENT LOANS AND PROGRAMS

by Albert Lowry ‧ RELEASE DATE: July 19, 1985

Lowry here recycles material from prior best sellers--How You Can Become Financially Independent by Investing in Real Estate (1977), Hidden Fortunes (1983)--combining it with a guided tour of federal loan, subsidy, and tax-incentive programs. The result is a rambling survey that, for all the ground it covers, offers little in the way of widely applicable counsel. As a practical matter, Lowry concedes at the outset, residential property profits may be harder to come by nowadays. All the more reason, in his book, for the resourceful to pursue opportunities underwritten in whole or part by Uncle Sam. At any rate, he provides accessible briefings on a lengthy list of special-situation possibilities. These include: obtaining concessionary loans on properties in defined rural areas; latching on to the generous tax credits available for rehabilitating properties certified as historically significant; hunting for pennies-on-the-dollar bargains among properties repossessed or seized by government agencies; filling an apartment building with tenants who qualify for federal rental assistance; and securing insured loans for the construction of nursing homes or intermediate-care facilities. In addition to cataloging offbeat ventures in which federal agencies might lend a hand--and more--Lowry includes sketchy reviews of acceptable, albeit typically sharp, acquisition/financing practices. Among the enterprising techniques he commends to aspiring real-estate tycoons forced to operate on short bankrolls are overfinancing (to secure working capital), using borrowed cash to make down payments, options, and organizing limited partnerships (which afford the possibility of lucrative management fees) to fund sizable projects. TV exposure (via Fortune Builders, an after-hours syndication in major markets) and the Lowry name could give this gimmicky entry a big boost. Nonetheless, both real-estate tyros and the nothing-down crowd will be better served reading (or rereading) the author's earlier, broader-gauged works.

Pub Date: July 19, 1985

ISBN: N/A

Page Count: -

Publisher: Simon & Schuster

Review Posted Online: N/A

Kirkus Reviews Issue: June 15, 1985

Categories: NONFICTION