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How to Buy and Sell Apartment Buildings [Paperback]

Eugene E. Vollucci (Author)
3.2 out of 5 stars  See all reviews (34 customer reviews)

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Book Description

June 3, 2004
Follow a proven path to greater wealth-with the newly updated bestseller How to Buy and Sell Apartment Buildings

Through his popular seminar program, Eugene Vollucci has shown thousands of experienced real estate investors and novices alike how to take advantage of one of the most rewarding investments you can find-apartment buildings. In this bestselling guide, the Volluccis' simple, step-by-step program shows you how to become a real estate millionaire just like they did. With material on new IRS rulings, tips on avoiding common pitfalls, and new advice on assuming loans with delinquent clauses, How to Buy and Sell Apartment Buildings is more comprehensive and complete than ever.

This Second Edition includes all the information that you need to find great real estate deals, understand complicated leases and contracts, exploit all the tax breaks you're entitled to, protect your assets, and turn a small investment into millions! With the Volluccis' straightforward, three-step system, you'll be able to:
* Gauge markets so you know when to buy or sell
* Read between the lines of property set-up sheets to spot good properties
* Use the latest computer software to accurately evaluate properties
* Develop a marketing plan to maximize profits when selling
* Take advantage of all the recent tax law changes
* Put together an asset protection plan that'll make you judgment-proof


How to Buy and Sell Apartment Buildings, Second Edition also shows you how to concentrate your assets for higher returns, use consultants so you aren't left on your own, set up a family living partnership to protect your assets, and much more.

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How to Buy and Sell Apartment Buildings + The Complete Guide to Buying and Selling Apartment Buildings + Investing in Apartment Buildings: Create a Reliable Stream of Income and Build Long-Term Wealth
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Editorial Reviews

From the Back Cover

Follow a proven path to greater wealth–with the newly updated bestseller How to Buy and Sell Apartment Buildings

Through his popular seminar program, Eugene Vollucci has shown thousands of experienced real estate investors and novices alike how to take advantage of one of the most rewarding investments you can find–apartment buildings. In this bestselling guide, the Volluccis’ simple, step-by-step program shows you how to become a real estate millionaire just like they did. With material on new IRS rulings, tips on avoiding common pitfalls, and new advice on assuming loans with delinquent clauses, How to Buy and Sell Apartment Buildings is more comprehensive and complete than ever.

This Second Edition includes all the information that you need to find great real estate deals, understand complicated leases and contracts, exploit all the tax breaks you’re entitled to, protect your assets, and turn a small investment into millions! With the Volluccis’ straightforward, three-step system, you’ll be able to:

  • Gauge markets so you know when to buy or sell
  • Read between the lines of property set-up sheets to spot good properties
  • Use the latest computer software to accurately evaluate properties
  • Develop a marketing plan to maximize profits when selling
  • Take advantage of all the recent tax law changes
  • Put together an asset protection plan that’ll make you judgment-proof

How to Buy and Sell Apartment Buildings, Second Edition also shows you how to concentrate your assets for higher returns, use consultants so you aren’t left on your own, set up a family living partnership to protect your assets, and much more.

About the Author

EUGENE E. VOLLUCCI is the founder of Cal State Companies and Director of the Center for Real Estate Studies, a nonprofit organization. Mr. Vollucci has more than thirty-five years of experience as an IRS-enrolled agent with the Treasury Department and is an active real estate broker. He has personally prepared thousands of tax returns and has bought and sold over $450 million worth of real estate.

STEPHEN VOLLUCCI is President of Cal State Properties, Inc., a commercial real estate brokerage firm specializing in the acquisition, oversight, and disposition of multifamily real estate investments. He consults property owners on how to successfully manage their multifamily and commercial properties and increase their revenue.


Product Details

  • Paperback: 240 pages
  • Publisher: Wiley; 2 edition (June 3, 2004)
  • Language: English
  • ISBN-10: 0471653438
  • ISBN-13: 978-0471653431
  • Product Dimensions: 9 x 6.3 x 0.6 inches
  • Shipping Weight: 10.4 ounces (View shipping rates and policies)
  • Average Customer Review: 3.2 out of 5 stars  See all reviews (34 customer reviews)
  • Amazon Best Sellers Rank: #178,346 in Books (See Top 100 in Books)

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Customer Reviews

Most Helpful Customer Reviews
58 of 61 people found the following review helpful
By Sherman
Format:Hardcover
What a T-U-R-K-E-Y !!!!! Based on the online reviews at AMAZON, I decided to take a chance on this book - BIG MISTAKE. In addition to the numerous typos (e.g. Asset "CONVERSATION" instead of conversion, etc.) The information in the book is either OLD, MISLEADING or Flat out incorrect. The Book's fundamental premise is based on two things: The author's ability to "time" the market and buy into quickly accelerating markets (from 1982-88), well before the markets turn around, and: His ability to 1031 exchange his profits (while cutting out his partners), into two other "well timed" investments in markets (well) outside his home market. He supports this simple concept with a lot of content which includes a deep bias against other types of investment strategies, which did not work for him (such as foreclosures), and a lot of statistics which are dubious at best, including lots of charts where the titles and legends have been intentionally omitted to support his position (questionable ethics - I think). Finally, he repeatedly points readers to an organization that he is a "Director" of to get a better understanding of the methodologies for his analytical strategies ( A LITTLE SELF SERVING). Final Analysis: NOT Well Written; Questionable LOGIC & Conclusions; Full of information which is probably no longer valid (Pub. 1992, cases based on strategies from 1980-88). Better off reading stuff by REED and available from ULI (Urban Land Institute). The Paper back was not a good investment - The Hardback at over $100.00 is an insult.
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28 of 28 people found the following review helpful
Not for beginners April 21, 2000
By A Customer
Format:Paperback
I am a beginner and a lot of this stuff is over my head. He only focuses on mid-size buildings, and the $6,000 is assuming you're going in with a group, which I wouldn't want to do. Also, he recommends software (from a company of which he is a director) and finding consultants. This would have to add up to spending a lot before you can invest a single dollar. This is basically a book version of a seminar he holds "Three Moves to a Million." This approach to me is a little get rich quickish, and I have to wonder how many buildings out there actually fit his mathematical formula; probably not many. I have a feeling he's getting rich these days not through apartment ownership but with seminars and software sales. But still, he's thorough in describing a range of processes and things to consider.
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42 of 45 people found the following review helpful
By A Customer
Format:Paperback
While the book provides a wealth of information and numerous valuable sources of information, the author is biased to mid-sized apartment buildings. Despite his recommendations to hire top notch professional "consultants" to save time and limit problems, readers should be prepared to perform the necessary due dilegence required to find and monitor good consultants (requires your time and $), and to research and understand the conditions of each real estate market in detail. I benefited from the points set forth in the book overall, but compared to other "how to" books I've read, this one lacks the depth that I expected given its title.
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Most Recent Customer Reviews
This book works
I was a newbie Real Estate Investor in 2000 when I read this book. 4 years later I was sitting on 400 apartments in Southern States. Read more
Published 6 months ago by Sunil V. Kololgi
too basic information not current
This book is good for buying apartment buildings in the 1980's but his only approach for profiting is when you sell them not on the actual rent roll! Read more
Published on May 6, 2010 by stevelle
good sevice good book
informaive book with the detail needed to take on the complex business ofbuying rental property.
Published on May 17, 2009 by Paul Ehrmann
A curate's egg
I agree with all the points made in the bad reviews, especially those that point out that Vollucci's history is strictly hypothetical (something that the text glosses over). Read more
Published on January 24, 2008 by Nicholas A. Lawrence
Great Book for The New Apartment Investor
This book is the best book I have read for the new investor that may be looking to transition from Single Family Properties into larger more profitable units like small to medium... Read more
Published on September 24, 2007 by Darrick H. Scruggs
Uri Gofman reviews How to Buy and Sel...
An informative and practical guide to building an ever increasing portfolio of apartment buildings. Good information difficult to find elsewhere.
Published on August 9, 2007 by Uri Gofman
Good book some misleading information
Good book. Learnt a lot on how to valuated apartment buildings. He completely side stepped the foreclosure market and some of his advice is misleading. All in all a good book.
Published on April 11, 2007 by D. Hiremath
A Realistic Approach to Investing in Rental Property
The 2nd edition builds on the first book written by Mr. Vollucci. It is simply one of the best real estate investment books I've ever read. Read more
Published on March 28, 2006 by Roger Carr
Great Book!!
I don't know what the other reviewers are talking about! This book was great. It covered material that other books just forget to add, such as, analyzing properties,... Read more
Published on January 6, 2006 by Kelly Lynch
EXCEPTIONAL ..... A GREAT BOOK
THE SECOND EDITION OF THIS BOOK IS EVEN BETTER THAN THE FIRST. I GIVE BOTH BOOKS AN EXCELLENT REVIEW. Read more
Published on October 28, 2005 by STEVE TODD
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Inside This Book (learn more)
First Sentence:
Our investment philosophy is based on an individual's chronological time line, which consists of three periods: (1) asset accumulation, (2) wealth building, and (3) asset conservation. Read the first page
Key Phrases - Statistically Improbable Phrases (SIPs): (learn more)
apartment cycle, comparable sales information, spreading income, comparable sales data, unit mix, execution sale, property management company, real estate licensee, charging order, vacancy factor, escrow instructions, cap rate, seller financing, limited partnership interest, existing financing, listing broker, escrow company, judgment creditor, real estate associations
Key Phrases - Capitalized Phrases (CAPs): (learn more)
Cook Islands, Code Sec, National Real Estate Index, Sale Price, United States, Parking Ratio, Bureau of the Census, Average Total Buildings, Building Class, Confirmed Days, Down Pmnt, Land Area, Net Spendable, Parcel Number, Pct Down, Property Type, Realty Information, Recording Date, Sale Date, Total Assessed, Total Units, Trans Tax, Transfer Tax, Updated Date, Year Assessed
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