How to Get Started in Real Estate Investing [Paperback]

Robert Irwin (Author)

Book Description

Publication Date: May 29, 2002

A PAPERBACK ORIGINAL

The perfect introduction on how to get in on today's hottest investment opportunity

Stock markets rise, and stock markets fall, but real estate is almost always a sure thing, especially in today's increasingly unpredictable investment climate. That's why more and more average Americans are becoming interested in pursuing real estate investing. How to Get Started in Real Estate Investing shows them how.

Writing for investors with little or no experience in real estate, bestselling real estate author Bob Irwin walks readers through all the ins and outs of real estate investing. In a friendly, reassuring, no-hype style, he fills them in on everything they need to know to start building a winning real estate investment strategy of their own­­from how much money they'll need to get started, to how to find and evaluate properties, to the basics of financing and taxes. He delineates the seven major techniques used by successful real estate investors and provides guidelines for choosing and adapting the right one for individual readers' goals, personalities, and budgets.

Editorial Reviews

From the Back Cover

Trust Robert Irwin to open the door to real estate investing

Have you always wanted to get into real estate investing but didn't have a clue where to start? You don't need an uncle in the business, just Robert Irwin. Best-selling real estate author, Robert Irwin takes you by the hand and leads you every step of the way from financing your first single family home investment to owning apartment buildings and commercial property. Through no-nonsense and easy to understand advice, he'll show you how to:

• Get started with little or no cash investment through creative financing and market savvy.
• Learn the nine tips for identifying the perfect investment property (and where to find it) so you pass on the "Alligator" and end up with a "Cash Cow."
• Avoid paying closing costs and use the equity in your current investment properties to buy more.
• Master the when, what, and how of flipping a property. (Selling a property for a profit without even owning it!)
• Educate yourself about the capital gains tax laws to minimize their impact on your profit.

Trusted and respected real estate advisor (and investor) Robert Irwin shares his personal experience as well as solid advice and detailed, step-by-step instructions. Whether you're a novice or you already own property, Irwin can put you on the road to long-term wealth and financial security.

About the Author

Robert Irwin, one of America's leading experts in all areas of real estate, is the author of more than forty books, including McGraw-Hill's best selling Tips and Traps series. For more real estate tips and traps, go to www.robertirwin.com.

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Product Details

• Paperback: 256 pages
• Publisher: McGraw-Hill; 1 edition (May 29, 2002)
• Language: English
• ISBN-10: 0071396497
• ISBN-13: 978-0071396493
• Product Dimensions: 8.9 x 6 x 0.5 inches
• Shipping Weight: 12.8 ounces
• Average Customer Review: 4.1 out of 5 stars  See all reviews (13 customer reviews)
• Amazon Best Sellers Rank: #912,988 in Books (See Top 100 in Books)

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Customer Reviews

Most Helpful Customer Reviews

39 of 42 people found the following review helpful:

4.0 out of 5 stars Informative intro to various real estate investments, September 15, 2002

By 

Andrew Everett (Santa Monica, CA USA) - See all my reviews
(REAL NAME)   

Amazon Verified Purchase

This review is from: How to Get Started in Real Estate Investing (Paperback)

The author seems to have a lot of experience and gives a
good overview of various ways to invest in real estate.
Key points are summarized in blocks of "tips" (with a
thumbs-up icon) and "traps" (with a thumbs-down icon.)

He warns novice investors about potential pitfalls. For
example, in a foreclosure "you might...think you're bidding
on a first mortgage only to find out that it's a second or
third." In another example, an investor bought an apartment
building, and had to refund security deposits that were paid
to the previous owner because he failed to address the
deposits in his purchase offer.

The book is an easy read, although there are some annoying,
obvious errors. Such as p.141 (2x$1000=$1000???) and p.153
where it states that "contractors can... handle
construction for far less than an investor... Thus a
contractor's margins are lower." Clearly he means the
contractor's margins are higher. I wonder if anyone at
McGraw-Hill actually read this book before it went to press.

The author frequently plugs his other books for more
details on specific aspects. Personally, I found that
to be cheesey, as if I just paid for a book that's really
a marketing tease.

Anyway, I bought this book looking for a primer on the
topic. Overall, I think it served that purpose well.

24 of 27 people found the following review helpful:

3.0 out of 5 stars VERY basic primer, September 10, 2002

By 

Jmamelia "jmamelia" (San Diego, CA USA) - See all my reviews

This review is from: How to Get Started in Real Estate Investing (Paperback)

This book is for those who don't have a CLUE about real estate. If you've NEVER owned, it will probably be very helpful. Hence, the title. If you have owned even one rental, this book will probably be too basic. (I've listed my copy for sale on half.com.)

Although the book is easy reading, I did not find any new or helpful information for investing in markets such as the one I live in (San Diego, CA) where single- and multi-family homes sell in a day or 2 and routinely sell for more than list price AND are over inflated value-wise. I bought this book as the result of a positive review in the local paper, hence my disappointment. Irwin has to obviously equalize the content in order to appeal to a wide audience across very diverse real estate markets.

Finding foreclosures and distressed sellers can be a full time job in and of itself. The book seems to trivialize the effort required to really make this type of investment pay.

BIG disadvantage of using the Internet that is NOT mentioned is that there are a LOT of sites out there to weed through. A list of better/recommended sites would be helpful to the reader. I believe there were 3 in total listed. Additionally, MANY , if not MOST of the FSBO web sites I visited have/had stale listings and this caveat re: the Internet is not noted.

It seems to me that the ability to finance a home and obtain a mortgage is also trivialized. Again, depending on the market, even a 10% down payment can represent a significant chunk of change. And if your credit is marginal, I believe a borrower would be hard pressed to get a mortgage with little or nothing down - mention isn't made of the caveats to E-Z financing, such as good credit and income requirements.

15 of 16 people found the following review helpful:

5.0 out of 5 stars Read the Title, June 3, 2004

By 

tb (tallahassee,fl) - See all my reviews

This review is from: How to Get Started in Real Estate Investing (Paperback)

If you are complaining about the book being too basic, or it did not give you info on what to do if you already own a home, read the title. This is a beginner's book. I have read the book and it was a great investment for beginners. It takes you through the beginning processes of investment and what you need to be wary of. I would definitely recommend this book to anyone thinking about real estate investing. I would not recommend it to someone who is knowledgeable about investing. Overall the book is very basic, yet detailed. It is not about pumping you up, but instead gives you valuable info about.. (get this)HOW TO GET STARTED.