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on January 30, 2010
This book covers the basics of purchasing an apartment complex or duplex. It doesn't throroughly cover how to inspect the potential building, sources to learn about inspection, purchasing foreclosures ins and outs, handling renters, laws pertaining to landlords, etc. This book has some information to learn about this potential investment but is not in depth enough in my opinion.
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on October 12, 2009
I bought this book anticipating a reasonably sophisticated treatment of apartment building buying/selling/operating. What I got was a book that couldn't have taken more than a month to write. Blah Blah Blah, why apartments are great/risky/worth it. About 3 pages of number crunching in the entire book. Save your money for something else.
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on December 28, 2008
As an investor in apartments and commercial real estate broker specializing in apartments, I found this to be a great primer with accurate information for the novice investor. It's an easy read and provides up to date information on the state of the real estate market. Investors will find this book to be a great tool and resource in helping them understand how and why apartments can be a launch pad to greater wealth and larger properties with positive cash flow.
I have found that many uninformed investors buy the wrong property at the wrong price and get burned. Using the income approach to value gives investors the knowledge to become successful and build wealth through their real estate investments.
I am ordering more copies of this book to hand out to my novice investors in an effort to educate them.
Thanks for such a well written piece.
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on August 17, 2009
I found this book to be the best one on the subject of apartment investing. The author says that there are three types of income: earned, portfolio, and passive. Most people have jobs so they earn income, but they might also have some portfolio income from stocks or bonds. Real estate, and specifically, apartments, can provide passive income. Apartments fall into two categories: two to four units and five or more units. Two-to-four units are considered residential and can be financed with residential loans. Five units and up are considered commercial and have to be financed with commercial loans. This distinction is important because residential loans are usually 30-year loans and can be refinanced whenever the owner wishes, while commercial loans are either 3, 5, or 7-year loans, and they must be refinanced at the end of these terms.

The author does a really good job showing readers how to source properties, perform due diligence, find financing, and sell properties. I also liked how he provided resources at the end of the book such as top multi-family lenders. I definitely recommend this book to readers.

- Mariusz Skonieczny, author of Why Are We So Clueless about the Stock Market? Learn how to invest your money, how to pick stocks, and how to make money in the stock market
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on June 20, 2012
This is a very well written book. But, I think there are some room for improvement especially a section on risks.

1. Negative cash flow risks. A cap-6 property is considered to have good returns. However, if vacancy in a cap-6 property falls below 80%, there is a good chance, the owners start having negative cash flow every month. Considering that as opposed to houses where land is a limiting factor, apartments can be relatively easily built, this is a risk factor.

2. It would nice if the author discussed loans a little more. For example, what is the typical uptick for 4-unit or 10-unit interest rates as opposed to primary residences? Also, how likely is it for a a first investor to get interest-only loans. Regular loans may lead to negative cash flows.
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on December 1, 2008
Mathew Martinez continues his good work with this book on apartment investing. I knew he was different than most real estate authors after reading his first book, '2 Years to a Million in Real Estate'. He writes about his personal experiences in a clear, informative manner and does not cloud information in hyperbole.

The introduction about the woes facing the middle class is timely. I believe that, one by one, millions of Americans will find out that the comfortable life and retirement they expected for themselves will not be possible without some diversification out of paper assets. Real Estate, and apartment buildings in particular, offer an excellent means for people to go beyond their 9-to-5 grind and to establish some financial security and perhaps even prosperity.

Matthew's logical description of working your farm area, sourcing properties, buying smart, doing your due diligence, financing, property management (which in the beginning includes landlording) and finally exit strategies is brief and yet complete. These are the steps you'll need to go through and the basic information you'll need to understand.

In addition to helpful advice and simple language, Matthew's inclusion of inspiring quotes, useful websites and major multifamily lenders rounds out this superb book for the novice apartment building investor. As with all books like this, the real value is in putting the information into action. I've been a real estate investor for a few years and have seen many investors make good money by combining simple techniques with consistent effort. The best review of Matt's book is the positive results you can achieve by following his advice!

Great job!

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on February 13, 2014
Its okay. written for a different time period. its outdated.
Probably should be updated. I wouldn't recommend it to a startup investor.
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on November 10, 2008
All right then - I actually READ this book, and found that it generally has OK advice. Nothing new - but then again, I am a sophisticated [and accredited] investor. There is nothing here that made me think "Oh! This is awesome, and this is what I was looking for". Further, much of the advice will not work in states where real estate is very expensive [like my home state of CA].

Now stand alone, I would have given this book three or four stars. Then again, I got junk mail from one of the bulk real estate program promoters [I will not name him for I do not want to give him publicity]. If the author is involved with this RE promoter, then the book deserves only one star [which is why I docked it to one star].

The book is detailed, entertaining, even educational for people who do not know what "cap rate" is.... Also, the author does not address [properly] how one would manage multiple units in states that need on-site managers for any building that has in excess of 10 apartments. That's all......
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on October 18, 2011
I bought this book for my grandson who is thinking about going into the real estate business next year with our company. I wanted a book that explained the apartment business simply yet covered all the important points. I read the book myself before giving it to my grandson and was pleasantly surprised with the way Matthew Martinez covered all the bases regarding buying, selling and managing. He explained the terms we use, how values are determined and gave good examples.

This book will be required reading for any new brokers that join our company, and an excellent read for the experienced ones as well. I look forward to reading other books by the author as well.
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on October 7, 2015
You can tell than an expert wrote this book who has been in the field. Definitely a book that you will get some ideas from. I enjoyed the read. I also like how the author proceeds cautiously with his investments, and gives the pros and cons versus just saying that investing in apartment buildings (or real estate in general) in the best thing since sliced bread.
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