Customer Reviews

Investing in Real Estate (Third Edition)

5 star:		(99)
4 star:		(19)
3 star:		(4)
2 star:		(4)
1 star:		(4)

 

 

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.

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 Yes the gurus will lead you to believe that anyone can use these and many other outdated and super risky "creative" techniques.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.

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.

You're not just buying a book to read here. The amount of information in "Investing In Real Estate" makes it an investment. These are the facts. The way things are. There has been spiked interest in RE recently because of the recent low interest rates which has caused an upsurge home-buying in many parts of the country. With all of the real estate courses, seminars, tapes and books being marketed, how rare is it today to hear the facts and not just the hyperbole? This is the most comprehensive and detailed, to-the-point real estate book available.

If you're a normal home owner and want to increase your home's value with some shrewd fixing-up before you sell it, you can get tons of pointers here. Want to find the best bargain with your first purchase or your new home? Manage your property(ies)?
What criteria do you use to find the best property? How do you check to make sure? Creative financing is also covered.

This is not just for those investing in apartments or a duplex but everyone. Want to rent-out your house? You will learn the basic laws and procedures, and how to write up the most appropriate lease and how to cross your "T's" and dot your "I's." Almost all of us know people who've rented their homes out and had "bad tenants." You'll learn how to screen properly here to avoid them, and how you can use the (local) law.

There are many simple and proven math models on how to calculate the return you'll get from buying a detached house, condo, duplex, tri, fourplex, or multi-unit apartment complex. The Gross Rent Muliplyer (GRM), Income Capitalization "Caps," Net Operating Income (NOI), Return on Investment (ROI), and Before Tax Cash Flow (BTCF) etc. Add these simple equations and formulas to the fact that you likely live in the community (familiar with) you'll be buying/investing in, and you'll have the best chance to earn some positive Cash Flow, and choose the best option available. Ways to evaluate neighborhoods and areas that are up-and-coming, paying less taxes, and using depreciation and deductions properly are also covered. Very important for homebuyers and owners yes, but this is the most comprehensive book written for people who are looking to purchase property to plan ahead.

I've read many real estate books and this one is the best at covering the broadest spectrum. The best part about the book is that as other reviewers have stated, the book is up-to-date and not outdated like some other "get rich" quick real estate books. Those times are over. One word of caution is that the book does not touch on multi-family properties and could use a little more by the way of how to measure performance.

After reading a slew of real estate investing books ( I'm convinced that realty investors can outperform the stock market), I would award this book the best of breed title. It covers more topics in greater depth than the others. I agree,too, with the reviewer below--these authors seem to really know what they're talking about. It's not all about real estate as a wonderful investment. The book talks about the difficulties, but does do a good job of showing how to deal with them, e.g. management, repairs, bad tenants, etc. But on the other hand, do people really think they can become "financially independent" by buying stocks that pay dividends of less than two percent and whose appreciation remains iffy. Gain without pain--the dream of millions--won't likely prove to be as easy as the stock hypesters have led us to believe. As for me, I would rather own tangible wealth (with some effort) than hold so-called "financial assets" whose value can evaporate overnight. If you agree with this truth, then get a copy of this book.

i've bought and sold a few pieces of personal real estate, but i'm new to real estate investment. i looked long and hard for a book that was short on hype and "get rich quick" and long on the facts, both good and bad. this book is it- the authors cover all of the major types of real estate investing (though they focus primarily on residential) and give you the tools to get started. highly recomended.

Execellent book for beginner or experienced investor. The chapter on 'legitimate' funding sources for low down payments is an eye opener. It also includes the relevent web-site addresses, and provides an illuminating view of the loan process from the lenders perspective(what they want to see before approving your loan). There is also top notch information on setting accurate valuations on prospect properties (the author explains 3 ways you should value a property before running a 'break-even' analysis). Also include several solid formulas for examining a property from an investment viewpoint- debt coverage ratio; before tax cash flow (will my property really make any money?); and the all important ROI (return on investment). This book will take awhile to digest because it's not a 'lite' read. The author also gives a good rebuttal to other '0 down' program and exposes the dangers of high-risk, high-leverage deals. Well worth the investment! Don't waste your money on the other 'introduction' type books before you read this one. If you are looking for nuts and bolts, practical investing info- this is the one to buy first! Includes a lot of info on rehabs as well, but covers all property types; single family and multi unit apts. I examanied 10- 20 other RE books before selecting this one- you won't be disappointed!!!

See this book....see that book...see my other book....I felt like I was back in school and doing research. This book had a lot of good tips but it was a pity that I already knew them from a great website called Creative Real Estate Online. Bought this book in conjunction with The Unofficial Guide to Real Estate and I read that one first. Maybe THAT'S why this book seemed dry and boring in comparison. Can't understand why this book got such high reviews. I recommend the earlier mentioned book and website.

Full disclosure: Dr. Eldred was my professor of real estate when I was in the Stanford M.B.A. program. Unfortunately, I never put his advice and teachings to work.I was too busy with stocks and investment banking.But, having been downsized with the slaughter on Wall Street, I've now decided to turn to real estate and by coincidence I ran across Dr. Eldred's book. I strongly recommend it. Just like the professor himself, this book brims with practical wisdom and a cogently reasoned approach to investing. I only wish I had put this advice into action 15 years ago. I've learned from hard experience that monied investors need to diversify into income properties--and small investors need real estate to provide the income and security that they can't get with stocks or Social Security.