How to Make Big Money in Small Apartments

251 Pages·2014·2.05 MB·English

by  Lance Edwards

How to Make Big Money
in Small Apartments
How to Finally Earn the Money You

Deserve in Real Estate Investing

By Lance A. Edwards
Copyright © 2014 by Lance A. Edwards and First Cornerstone Group,
LLC
All rights reserved. No part of this publication may be reproduced,
distributed, or transmitted in any form or by any means, including
photocopying, recording, or other electronic or mechanical methods,
without the prior written permission of the publisher, except in the case
of brief quotations embodied in critical reviews and certain other
noncommercial uses permitted by copyright law. For permission
requests, write to the publisher, addressed “Attention: Permissions
Coordinator,” at the address below.
First Cornerstone Group, LLC
1345 Campbell Rd, Suite 200
Houston, TX 77055
713-476-0102
[email protected]
This publication is designed to provide accurate and authoritative
information with regard to the subject matter covered. It is sold with the
understanding that the publisher is not engaged in rendering legal,
accounting, or other professional advice. If legal advice or other expert
assistance is required, the services of a competent professional person
should be sought.

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The author, Lance Edwards, is available for a limited number of
speaking engagements and consulting assignments. He also has a
selection of training programs and mentoring programs. For
information, contact Lance Edwards at 713-476-0102 or
[email protected]

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Dedication

This book is first dedicated to the memory of my late wife, Eri
Edwards. Eri supported me when I first made the decision to
enter real estate part-time and then again when we together took
the leap and I left the “security” of a 20 year job. Eri, you are
missed every day.
Next, the book is dedicated to my daughter, Stephanie Edwards,
without whom this book or the Case Studies described herein
wouldn’t exist. Stephanie is my original “Reason Why.” She’s why
I got started in real estate and small apartments. From a deep
desire to be able to fund the best education for Stephanie were the
strategies and techniques contained in these pages developed.
Finally, I want to dedicate this book to the students, clients,
partners and mentors who demonstrated to me over the past
twelve years the power of the wealth creation methods revealed
here.
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Testimonials

Praise from the students you’ll read about in this book, and others
from the real estate industry:
“This book and the methods inside gives others the encouragement and
necessary understandings to evolve their business and plan for
retirement.”
— Peter Arianas
“I’ve used the methods taught by the Lance Edwards team and now I
have acquired multiple streams of income and my business has
exploded.”
— Delwin Marks
“Lance Edwards and his crew gave me the courage to always ask about
deals and never pass on an opportunity.”
— Scott Kodak
“Even the newest newbie can start today and make more money than
they ever imagined within the first thirty days.”
— Traci Williams
“Thanks to Lance Edwards, my business has completely shifted, and now
I make three times the money for the same amount of work. The plan
really works and I’m grateful to incorporate it into my business.”
— Terri Attaway

“I’ve personally shared many of Lance’s tips with my friends and
colleagues and I’m thrilled to now be able to recommend a book that
packs all of the tips into an individual source.”
— Anil Sikri
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“Lance Edwards is the undisputed champion of apartment investors. He
knows how to make a deal out of nothing, and he does it while everyone
else is standing around scratching their head.”
— Troy Fullwood
www.RENoteExpert.com
“Lance Edwards is a true professional in this business. Between the high
energy and the information provided, failure is not an option.”
— Al Aiello
Goldmine Tax Reduction and LLC Authority
“We have worked with the Edwards team for years - both in marketing as
well as building informative real estate webinars. The information in this
book is nothing short of the essential instruction manual for beginners as
well as a reminder for lifelong professionals.”
— Randy Hughes
“Mr. Land Trust”
“Lance has traveled many miles and influenced many minds. The
information provided in his new book highlights his decade of experience
in simple terms for all of those to follow.”
— Mark Waide
Trustee, Akron/Canton REIA
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Table of Contents

Foreword by Ron LeGrand ...................................................................... xiii
Chapter 1: Introduction / What’s In it For You? .................................. 1
Chapter 2: Why Small Apartments? ....................................................... 15
Chapter 3: Why is the Competition So Low? ........................................ 47
Chapter 4: The Free in Five Plan ............................................................. 59
Chapter 5: What You Need to Get Started ............................................ 69
Chapter 6: How to Find the Deals .......................................................... 85
Chapter 7: How to Fund the Deals ......................................................... 109
Chapter 8: Five Ways to Get Started ...................................................... 135
Chapter 9: Four Components of Success in Real Estate ...................... 169
Chapter 10: The Whole Truth About Real Estate Investing ................ 185
Chapter 11: Recap: Why Small Apartments? ........................................ 211
Chapter 12: Frequently Asked Questions .............................................. 215
Glossary ...................................................................................................... 221
Summary of Resources and FREE Offer ................................................ 231
Disclaimer................................................................................................... 235
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Summary of Case Studies

Chapter 1
His Retirement Plan Was to “Drop Dead” ...................... 6
Chapter 2
$24,000 from Her First Apartment Flip ........................... 22
10-Unit Building Sells in 22 Days ..................................... 27
House Flipper Doubles Profits with
Four-Plex .............................................................................. 30
Window Installer Makes $60K on First Deal .................. 33
House Flipper Quadruples Profits with
Seven-Plex ............................................................................ 34
Two Unemployed Partners Raise $6 Million .................. 40
Chapter 3
My First Offer Earns Me 100% Financing ....................... 49
Foreign Buyers Creates Stellar Investment
Opportunity ......................................................................... 52
Insurance Savings Pay the Management Fee ................. 54
Chapter 4
12-Unit Apartment Yields $3,500 per
Month Deal .......................................................................... 66
Seller Financing Creates $10,000 Passive
Income .................................................................................. 66

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