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Investing in Duplexes, Triplexes, and Quads: The Fastest and Safest Way to Real Estate Wealth Paperback – May 1, 2006


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Investing in Duplexes, Triplexes, and Quads: The Fastest and Safest Way to Real Estate Wealth + What Every Real Estate Investor Needs to Know About Cash Flow... And 36 Other Key Financial Measures + Buy It, Rent It, Profit!: Make Money as a Landlord in ANY Real Estate Market
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Product Details

  • Paperback: 256 pages
  • Publisher: Kaplan Publishing (May 1, 2006)
  • Language: English
  • ISBN-10: 1419537253
  • ISBN-13: 978-1419537257
  • Product Dimensions: 8.9 x 7.5 x 0.5 inches
  • Shipping Weight: 1 pounds (View shipping rates and policies)
  • Average Customer Review: 4.2 out of 5 stars  See all reviews (65 customer reviews)
  • Amazon Best Sellers Rank: #6,459 in Books (See Top 100 in Books)

Editorial Reviews

Review

“…informative and entertaining … After reading this book, you might go straight to the real estate listings.”

 

--Newsday

About the Author

Larry Loftis is an AV-rated attorney, tax lien investor, author, and adjunct law professor. He is the nation's top tax lien expert, having purchased millions of dollars of liens and deeds in 11 states. He has been cited as a tax lien expert in The Wall Street Journal, Entrepreneur magazine, Wealth magazine, Wikipedia, Msn.Money, TheStreet.com, other real estate books, and by many other national media outlets. He is currently investing over $12 million in real estate tax liens for clients.

More About the Author

Larry Loftis is an AV-rated attorney, tax lien investor, author, and adjunct law professor. He is the nation's top tax lien expert, having purchased millions of dollars of liens and deeds in 11 states. He has been cited as a tax lien expert in The Wall Street Journal, Entrepreneur magazine, Wealth magazine, Wikipedia, Msn.Money, TheStreet.com, other real estate books, and by many other national media outlets. He is currently investing over $12 million in real estate tax liens for clients.

Customer Reviews

Read this book and I dare you not to get excited too!
Kent R. Dills
Larry does a great job focusing new investors on 2-4 family apartment buildings...otherwise known as residential multifamily properties.
Matthew A. Martinez
If you are truly interested in investing in real estate for the long haul, than read this book.
Investinista

Most Helpful Customer Reviews

161 of 164 people found the following review helpful By C. C. Fairbanks on March 9, 2007
Format: Paperback
This book is well written and a quick read with a fair amount of repetitiveness. The author details his experience with rental properties primarily in an era of extreme appreciation of which he bases most of his theory on. I don't believe it is realistic to expect properties to increase at the rapid rate that he suggests which is the premise behind one of the plans he outlines which is to quickly refinance and purchase properties. Keep in mind that he is located in southern Florida which was one of the fastest appreciated areas of the country during the heyday of the recent real estate boom and it was during that time that he continuously refers to. It is my opinion that the author should temper some of his claims with the fact that not all investors will be able to execute his rapid fire acquisition strategies in an environment that is dissimilar to the one he had which was very unique and uncommon. What I'm trying to say is that his assumptions are absolutely "best case" scenarios which are unlikely to be duplicated by the majority of investors.

The one other area of the book that I had a problem with was in the area of tenants. He claimed that he doesn't run background, credit, etc. checks on prospective tenants and prefers to "go with his gut" on whether he feels the tenant is suitable to occupy his property. He goes on to say that if you invest in higher quality properties you will attract higher quality tenants. That is probably true but I don't think it eliminates the need to thoroughly screen prospective tenants. I'm not sure what it's like in south Florida but I can tell you that here in Washington state there is a big problem with methamphetamine labs in rental properties. The financial liability for the property owners is huge and not covered by insurance.
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49 of 50 people found the following review helpful By Tart Green Apple on August 18, 2007
Format: Paperback Verified Purchase
The basic investing information in this book is solid, the problem is that the plan for gaining wealth is overly optimistic for many areas of the United States. Larry bases his wealth building plan on very fortunate appreciation that he experienced on his first investment property. Then as the plan is taught you refinance that first property after one year and use that money to buy another property. In Orlando, FL (where Larry bought his property) around that time the appreciation was 25%, but what about the least appreciating cities like the one where I live at 3%? Then the wealth building plan that Larry talks about goes out the window.
I thought the best part of the book was the info on closing, ideas that I have not reading anywhere else. Word of advice, skip over the property management chapter, the weakest chapter in the book where Larry advocates screening tenant by using your "gut". That is a recipe for disaster.
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73 of 77 people found the following review helpful By JDC on October 21, 2006
Format: Paperback Verified Purchase
Instead of delivering a few nuggets of information, this book delivers the gold mine. It's written so well that page after page, chapter after chapter, it delivers just the right information at just the right time. I couldn't put it down and read through it in just 3 evenings after work (I can't believe I'm saying that about a real estate investment book).

The author gets right to the point and gives you the facts about what works and what doesn't work for investing in real estate. He shows you how investing in multi-family properties (2 - 4 family dwellings) is the easiest, lowest cost, and least risky way to get started making your fortune. He takes you from knowing nothing to being fully armed and ready to go make your first purchase. Best of all, he shares many intimate details on his own purchases, deals he walked away from, and deals he wished he would have completed.

When you're done with the book you understand: 1) how to find properties, 2) how to determine the value of a property, 3) verification and due diligence, 4) the process of making offers, 5) how closing works and what to expect, 6) managing your property, 7) the ins and outs of the three key real estate growth strategies: Buy and Hold, Refinancing, and Pyramiding.

Now that I have read this book, I'm already out looking at multi-family properties and will soon be completing my first purchase. I'm just an average guy with not much in savings, but with what I have learned from this book I can see a clear path to making several million dollars in real estate in just a few years. All that for just the $12.97 I paid for this book on Amazon... it almost seems unfair.
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59 of 62 people found the following review helpful By gregory dwyer on September 11, 2006
Format: Paperback
I am an owner of a few rental properties which I kind of stumbled upon but which have provided me with some steady income. I was intrigued and decided to pick up Mr. Loftis' book.

My experience has been in lower class neighborhoods. While Mr. Loftis touches upon investing in areas such as those, he prefers to buy triplexes/fourplexes in "yuppie" areas. He clearly states that the monthly income from the lower class areas is usually higher, but that the appreciation in the higher end areas more than makes up for that.

Loftis' explanation is quite detailed. He explains how to use the GRM to help you find a suitable property. By fixing up your property in a high GRM neighborhood, you can build considerable equity.

He also explains how he chooses his renters and has some example leases that you can use. He debunks some of the "wisdom" spewed out by many of the real estate "gurus". He explains how to use a 1031 exchange to free up some capital for further investment and how you can use refinancing to do the same.

In short, there is everything here to get you started on your way to being a successful residential multifamily property investor. Give the book a try...
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