Investing in Real Estate (Third Edition) [Paperback]

Paul McGreevy (Author), Gary W. Eldred (Author), Andrew James McLean (Author)

Book Description

Series: Investing in Real Estate | Publication Date: March 22, 2001

"This is the best of the how-to-invest-in-real-estate books currently available."–Robert Bruss, from his review of the Second Edition

The bestselling guide to residential real estate investment–updated and expanded for today’s market

Experienced and successful real estate investors Andrew McLean and Gary Eldred explain in an easy-to-read guide–packed with examples–how you can make money investing in houses and small apartment buildings. Even with today’s lower rates of inflation, residential real estate remains your surest and safest way to build wealth.

Now, to help you achieve a profitable and secure future, this new Third Edition of the ever-popular Investing in Real Estate explains why your real estate investments can outperform the stock market and demonstrates how to enhance cash flow, negotiate deals, spot market trends, and explore the Internet. It also covers the important tax law information you need to know. Experts McLean and Eldred show you how to:

• Buy with little or no money coming out of your own pocket
• Build wealth without paying taxes on capital gains
• Select neighborhoods and properties that will beat the market with faster rates of appreciation
• Create $2 to $10 of value for every $1 you invest in improvements
• Select from more than a dozen techniques to finance your purchases

To plan for your child’s college education, a higher quality of life, or a prosperous retirement, read Investing in Real Estate. It’s still the most insightful and authoritative guide available.

Editorial Reviews

From the Back Cover

THE BESTSELLING GUIDE TO REAL ESTATE INVESTING—NEWLY REVISED FOR TODAY'S MARKET

Here's how to profit from today's buyer's market. Now more than ever, investing in property will set you on track to establish independent income and financial freedom. Investing in Real Estate, Sixth Edition offers dozens of straightforward, experience-proven strategies and techniques to generate quick profits as well as build your long-term wealth. Now really is the time to invest.

In this thorough and fresh new edition, internationally prominent real estate investor Gary W. Eldred provides you with solid ways to grow a profitable portfolio. He covers the best techniques to buy properties for less than they are worth and shows you how property investing opens the door to more than twenty sources of financial returns. You'll learn how to negotiate like a pro, read market trends, and find multiple ways to finance your transactions. Plus, there's more:

• Real opportunities—not media babble—that reveal the rewards of today's buyer's market

• Fifteen new ways to profit through property

• Find the neighborhoods and properties that will appreciate fastest

• Effective tax strategies to protect your income and wealth from the IRS

• Tips on recognizing and avoiding pitfalls, mortgage scams, and other investing misadventures

• Savvy strategies to bid smart in property auctions

• Market-derived improvements that add big value as well as competitive advantage to your properties

Investment pros will profit greatly in today's real estate market. To join them, all you need is the know-how and competitive edge that you'll gain from Investing in Real Estate, Sixth Edition—the one dependable guide to building real estate wealth in any economy. --This text refers to an alternate Paperback edition.

About the Author

ANDREW McLEAN has broad real estate experience and has written six other books, including The Ultimate Guide to Residential Real Estate Loans (Wiley).
GARY W. ELDRED, PhD, is a Realtor who has served on the graduate business faculty at Stanford University and the University of Illinois. He is also the author of Yes! You Can Own the Home You Want, The 106 Common Mistakes Homebuyers Make (and How to Avoid Them), and The Complete Guide to Second Homes for Vacations, Retirement, and Investment, all published by Wiley.

Product Details

• Paperback: 336 pages
• Publisher: Wiley; 3 edition (March 22, 2001)
• Language: English
• ISBN-10: 0471406589
• ISBN-13: 978-0471406587
• Product Dimensions: 8.8 x 5.9 x 1 inches
• Shipping Weight: 1 pounds
• Average Customer Review: 4.6 out of 5 stars  See all reviews (130 customer reviews)
• Amazon Best Sellers Rank: #1,380,527 in Books (See Top 100 in Books)

Customer Reviews

Most Helpful Customer Reviews

353 of 363 people found the following review helpful:

5.0 out of 5 stars Packed with knowledge and techniques, June 13, 2002

By 

john zack (Miami, OH) - See all my reviews

This review is from: Investing in Real Estate (Third Edition) (Paperback)

I bought the top 3 r.e. books (Investing in Real Estate, Real Estate Riches, Unofficial Guide). I could have bought just this one. It covers EVERYTHING the other books go over, AND it gives you FAR MORE DETAILS and far better explanations. I urge you to compare the contents--buying foreclosures, buying bargains, creative improvements, financing, paying less taxes, predicting appreciation, valuing properties. You will see what I mean. While Unofficial clearly beats Riches, it still gives you wrong or glossed over info much of the time. Unofficial is especially weak on financing, buying bargains, foreclosures, and valuation, though it's pretty good on management. I can offer this critique because Investing In Real Estate set the standard from which I could make an intelligent comparison. All of those readers who rated UNOFFICIAL with five stars could not have known much about real estate. They surely believed that they learned more than they actually did. Over and over, I read similar topics in IRE and Unofficial, and each time I developed my understanding from IRE and quickly spotted the glibness of Unofficial. Don't take my word for it. Go into a bookstore and compare for yourself. As to Real Estate Riches, DON"T BOTHER--unless you're a rich dad groupie.

284 of 291 people found the following review helpful:

5.0 out of 5 stars On target for today's market, May 15, 2002

By 

Cassidy Uranne (Panama City, FL) - See all my reviews

This review is from: Investing in Real Estate (Third Edition) (Paperback)

This is the 5th r.e. book on investing I've read. But it was the first one to recognize that we're no longer living in the 1980s or even the early 90s. Sorry folks you can't buy foreclosures at pennies on the dollar. You can't find "motivated" sellers who will let you steal their properties for 60 cents on the dollar. Non-qual assumptions? Good luck trying to find one that's workable. Cash back at closing--dream on! Yes the gurus will lead you to believe that anyone can use these and many other outdated and super risky "creative" techniques. I know from experience because I wasted much money, time and effort chasing after their promised rainbows. Luckily, this book offered welcome relief. Factual, up-to-date, and very specific about the real opportunities (and pitfalls) in foreclosures, high leverage, property improvements, and tenant management. Do yourself a favor. Before you run amok with illusive hopes, read this "state-of-the art" guide. Some years ago I read a great book (Million Dollar Habits) by Robert Ringer. The first chapter was called "The Reality Principle." Well, Investing In Real Estate stands as one good dose of reality. This is the most real-world introduction I've found.

59 of 61 people found the following review helpful:

5.0 out of 5 stars A must for Real Estate Investors (Novice or Expert), August 7, 2001

By A Customer

This review is from: Investing in Real Estate (Third Edition) (Paperback)

This book is a very long read, so be prepared for it. It is jam packed with information and is probably the best real estate investment book I've read so far. The difference between other books and this one is that there is no hype or BS. I can't stand Carlton Sheets and just love the slamming of the "investor wannabe who just graduated a nothing down course." This book puts all hype to rest and reads facts. If there was a college textbook for Real Estate Investing this would be the one. I would have to say the only downside is the lack of detail when dealing with Probate and Sheriff's Sales. I think they were so brief is due to the localized nature of them and differing laws from state to state. Other than that is excellent. But like I said, it's a long read, but well worth it.