Customer Reviews

Investing in Land: How to Build Wealth Buying, Selling, Subdividing, and Developing Land

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

 

 

I borrowed this book from a friend who bought it from the author's website for {..}. It came in a cheap, black vinyl binder, the variety that costs under (..) at Office Depot. My first reaction was, "you paid how much for this?"

Upon reading it, my general impression was that the book was well-written, but short on substance. The first 100 pages or so are "preparatory" topics which could have been wrapped up in the first chapter. For example, the first 13 pages are a long, drawn story about how the author's hometown has changed. The next 80 or so pages are dispelling myths about land and why land is a good investment. Ho hum, get to the point!

Around page 115, he starts with some good advice - "buy great land at a fair price, not fair land at a great price". This is very good advice, and most experienced real estate investors will tell you that buying in the right neighborhoods is just as important as buying at a low price.

The basic premise of the book is buy land cheap, improve the value by physically cleaning it up or subdividing, then resell it. The problem is, such a formula is entirely too vague and is way beyond the scope of most investors. It can cost tens of thousands of dollars to clear out bushes and other landscape on any parcel of a decent size, and this does not guarantee it will improve the value. Also, subdividing lots isn't as easy as it sounds - there's zoning restrictions, local politics, environmental impact studies, traffic studies, etc that has to be considered and often at a hefty cost. The author speaks of buying land with little or no cash by getting seller financing, options, or partners, but neglects to mention where the heck you get the money for all of the due diligence required to determine whether a project is even feasible? An investor can spend thousands in lawyer fees, engineering studies, environmental inspections, etc. only to find out that a piece of land is not even worthwile. The author makes it sound like the entire process is easier and more lucrative than single family homes and apartments, but I wouldn't bet on it. The scope of knowledge required to assess a raw land deal is way beyond the average consumer, and beginners would likely have less risk getting started buying a duplex.

There's a few good chapters in the book about land leases and using options that are worth reading, but generally the book is mostly theoretical ideas, nothing concrete. All in all, I'd give the book 3 stars if it were a $20 paperback book. But in the price range of {...}, it think it should have an appendix with checklists and forms.

Investing in Land by Robert J. Abalos, Esq.

Reviewed by Ronald * Starr, experienced real estate investor.

This seems to me to be a very good book. First: while I have some land investments, I am not a land investment specialist, so I can not evaluate the quality of the opinions and techniques recommended in this book. However, I have invested in real estate for about 25 years. I could find only a couple of things with which I disagree with the author, Robert J. Abalos. And those are on theoretical matters of how to look at investing, not the specific techniques and approaches he advocates.

This is not a "rah-rah" book, trying to motivate you, as you will find in other, well-known authors' writings, such as those of Robert Allen, Robert Kiyosaki, or Carleton Sheets. The writer does not promise quick profits, as is all too commonly done by many other authors of real estate investing materials. For instance, Abalos, recommends spending two years studying the land marketplace and dynamics where you invest. This is similar to my recommendation that real estate investors expect to spend 6-18 months studying real estate investing and their choosen marketplace before putting any money into real estate.

The main theme is to be selective in what to buy, pay less than market value, and then resale as soon as possible for a profit. I call this "real estate merchandising," as opposed to real estate investing, which is long-term holdings. There is some discussion of holding vacant land properties and of developing properties. Mr. Abalos' general suggestion is "don't," leave it to others, such as your buyers. He indicates that carefully done, land investing can provide very handsome profits in a few months. However, it can take years to become financially independent, a sentiment with which I concur.

The writing is clear and easy to read. I found a modest number of typographical and grammatical errors, which I judge do not detract from reading the text. Some sections were praiseworthyly error-free. There are some brief accounts of actual investments and investing situations. I would have enjoyed more concrete examples and would have preferred some longer case studies of specific deals. I would also prefer to have more very detailed explanations of how to deal with the problems, issues, and difficulties one could run into. However, Investing in Land provides far more than just generalities. It does offer advice on major issues of investing and alternatives to make profits. I feel there is enough information for a self-starter to go out and get started on this approach to investing.

On a five-point scale, I'd rate this book, "Investing in Land," by Robert J. Abalos, Esq., at 4.5. Amazon limits us to full-point ratings.

Before I read this book I had no idea how to understand the real value of real estate now and in the future. Smart money is buying up farmland now for a reason.

Robert's book is my first reading in real estate investment, and this being the subject of land investment. I have to say, it is well presented, concise, and filled with some practical suggestions and tips. I look forward to executing some of the ideas presented. I fully recognize the leveraging power of options and to me, this is the way to go. He gives some compelling reasons why land investment are much more lucrative than the typical improved real property. A bit of useful financial information is also presented

Besides the book, you're also getting access to the author who can be reached by email and responses typically come back within half a day. You can't beat that!! Now that's leveraging!!