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Hidden Profits In Your Backyard
by Hugh Carter
191 pages; quality trade paperback (softcover); catalogue #00-0241; ISBN 1-55212-575-0; US$23.00, C$26.00, EUR19.00, £13.00
Hidden Profits In Your Backyard is a book helping people make money in residential real estate through rezoning and/or subdividing.
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about the book about the author reviews Introduction catalogue info
About the BookHidden Profits In Your Backyard takes you on an easy-to-follow, step-by-step journey down the road to success for the New Millenium Real Estate Entrepreneur. This book takes the mystery out of making money in real estate. Designed to benefit everyone, from average Canadian homeowners and first-time home buyers, to first-time real estate entrepreneurs and creative real estate agents, the book offers a realistic approach to wealth-building in the 21st Century. Discover where the opportunities in real estate development exist. Learn how to apply formulas that have proven successful in buying and selling real property.
Uncover ideas for wealth-creation, for yourself and others.
Learn techniques that will enable you to create:
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About the AuthorHugh made his first real estate investment at the age of 18. After pursuing a career as a plumber, he returned to real estate investing at the age of 28. He has made an assortment of investments which include revenue properties, fixer-uppers, estate sales and then, by accident, started a path of rezoning and subdividing in the early nineties, and has never looked back. He has been a full time real estate investor ever since. Hugh says his greatest profits have been in the field of rezoning and subdividing and feels this is the only area left in real estate which a novice can make a huge gain in equity or cash in any market. Visit his website at www.dhcarter.com Hugh resides in Victoria, B.C, with his wife Rosie and young son Brandon. |
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Reviews
"Hugh has provided a brilliantly simple strategy that creates wealth for the homeowner tax-free, which adds even more value to the process. This book is easy to follow, organized and comprehensive".
Ralph Hahmann, Account Executive
Regal Capital Group
"Hugh Carter has taken the mysterious processes of rezoning and subdividing and simplified them so that even the inexperienced person can follow each step along the way. This book enables the reader to understand and implement the information needed to create a new building lot. I recommend it highly to real estate agents and to property owners".
Helen Jones, B.Ed.
FRI JONESco Real Estate Inc.
"Hugh Carter has created a book that enables the layperson to easily understand the rezoning and subdividing process. His use of before and after models is excellent. I highly recommend his book to everyone interested in rezoning and subdivision".
Dave Lund, Certified Residential Designer
Ted Lund Designs Ltd.
Preface
In the late 1980's, my career as a real estate entrepreneur began with the purchase of a revenue-producing duplex. Early on, I often wondered if dealing with tenants, property managers, leaky faucets and late night calls would be worthwhile.Then, two things started to work in my favour: inflation began to drive the value of my properties up well beyond my expectations and Revenue Canada was cancelling the $100,000 capital gains exemption. It was time to sell!
During this period of my life I also bought and sold several distressed properties. My real estate ventures had earned me a total of $150,000 in cash and equity by 1990, an amount four times higher than my average yearly wage had ever been. What a wake-up call! I put up with the grind of being a landlord and paying taxes on my profits because I realized I could continue to make good money. I saw my future in real estate - life was good.
Then something happened that changed my focus forever.My marriage failed and I needed to find a new place to live - but I didn't want an apartment. Instead, I opted to purchase another house.
My search for a new home led to a small house on a corner lot. The realtor told me the house and lot had duplex potential. I really needed a place to live, so we struck a deal quickly. I immediately went down to the municipal hall to make inquiries about duplexing. Once the information-gathering stage was complete and I realized the property truly did have duplex potential, I began the rezoning and subdividing process. It took some time and effort, but in the end the project received the municipal stamp of approval.
I lived in the existing home while I built the new unit. Upon completion, the duplex was strata titled. I sold the units separately, structuring each sale as my principle residence. In just seven months I had made $80,000, tax free.
It requires courage to make this kind of commitment, to leave your comfort zone in order to take control of your own destiny. It's not for everyone. But, if you possess the right information, the kind of information that gives you the confidence and courage to take action, anything is possible. We all have the ability to be creative, use our imagination, develop decision-making skills and learn. Ask yourself this question: How long do I want to continue working hard every day, taking direction from a supervisor and then turn all that hard-earned money over to Banks and Revenue Canada?
This book offers an alternative to that way of life and a realistic approach to wealth-building for the average Canadian. It provides all the information you need to be a successful real estate entrepreneur. Twelve easy-to-follow chapters show you the straight forward steps to take if you want to buy and sell residential real estate for profit. You will learn proven ways to build cash and equity through infill development. Applying these techniques, tried and tested by myself and others, can help you accomplish five important things:
- Independence for you and your family
- Employment for others
- A new tax base for your community
- More affordable housing
- A stimulated economy
I wrote this book to enable you to uncover opportunities to create wealth through a very basic, traditional commodity - residential real estate. Tailor the information to suit your needs. As you read through this book, make notes and start a journal. Have your team of experts answer your questions and visit my web site at http://www.dhcarter.com.
I dedicate this book to YOU - my peers - the New Millennium Real Estate Entrepreneurs. May you grow financially secure by following the suggestions offered in this book.
