Customer Reviews

How to Get Started in Real Estate Investing

5 star:		(6)
4 star:		(4)
3 star:		(2)
2 star:		(0)
1 star:		(1)

 

 

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.

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.

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.

This book is amazing! I own two rental homes, bought with difficulty, and never realized how I could have done it so much easier and with less money down.
This book's first chapter actually walked me from example to example showing how to find and acquire rental property. Then it showed how to hold them for long term or flip quickly for cash outs. I never knew what I was missing or how easy it is. And the later chapters deal with all sorts of high-end investing including industrial, commercial and land.
This book is a must read. I don't think it matters whether you're getting started or are an old investor. It's a money-maker!
Bill Leary

I've purchased two homes so far, just for my primary residence. Irwin's book is really geared for someone who has NEVER owned a home. Kind of an odd place to start for someone getting into real estate investing. Not a lot is said about how to start if you already own a home. Also, some of the parts on "flipping" were just silly. The woman walking down the street and stumbling upon a house for sale $50K below market? Come on. However, there are some good tips, like I said, and the part on apartment building valuation and investing was new to me.

I bought this book after reading a review by Rober Bruss (the book reviewer for the LA Times) who gave it a 12 on his scale of 1 to 10 and I wasn't disappointed. It showed me how to change my current house to a rental and buy a second one. Now I'm getting rental income and I have a new house to live in! I'm working on buying a small strip mall next. Compared to the other real estate books I've bought in the past, this is the first one that really showed me how it's done. I won't sell this book for anything!

Irwin describes in excruciating detail how the steps to take to get started and maintain a real estate portfolio. Evidently, he's written 40 books and it makes sense because he's extremely knowledgeable. He goes into the ins and outs of looking for the right property and buying it with the help of "the right agent." He even describes what the "right agent" looks like: middle aged, honest, pleasant... Irwin writes about the tax benefits and the prospects for good tenants. There are some great tips throughout (he describes Fannie Mae and other real estate institutions and terms) but there's nothing too clever- all of the information is basic and straightforward (nothing clever like another book I just read ("How to Take Advantage..."by Morse). It's a great read, but if you're looking for inspiration to buy a house, look elsewhere like Bach's "Start Late Finish Rich" for women- this book doesn't say WHY you should buy a house.

This is the most helpful and informative book on real eastate I've read yet. Lots of nuts-and-bolts information from a person in a position to know. Well written and well presented.

Recommended.

Robert Irwin has written a good book on how to get started in real estate. His beginning story with Leslie, David, and Leo really simplify the thought process of investing. It was a great idea to use one's first residence as an investment property. This gives a fresh outlook on real estate investing. Now real estate could be purchased on 2 fronts. He gives good points to the beginner which seasoned investors may already know. Unfortunately he only scratches the surface of real estate without giving real world examples and numbers. All in all the tips and traps illustrations should serve as a good outline to all real estate investors.
He definitely followed the KISS (Keep it simple ...) acronym and it is a refreshing read.

This is a book I find myself returning to time and time again. The insights are multi-dimensional; and every reading is a fresh experience. Contains a lot of insiteful information for the beginner investor mostly; but also for the experienced investor. I recommend this book.