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The Wall Street Journal. Complete Real-Estate Investing Guidebook Paperback


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The Wall Street Journal. Complete Real-Estate Investing Guidebook + Buy It, Rent It, Profit!: Make Money as a Landlord in ANY Real Estate Market + What Every Real Estate Investor Needs to Know About Cash Flow... And 36 Other Key Financial Measures
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Product Details

  • Paperback: 256 pages
  • Publisher: Three Rivers Press; 1ST edition (December 26, 2006)
  • Language: English
  • ISBN-10: 0307345629
  • ISBN-13: 978-0307345622
  • Product Dimensions: 9 x 5.2 x 0.7 inches
  • Shipping Weight: 11.2 ounces (View shipping rates and policies)
  • Average Customer Review: 4.5 out of 5 stars  See all reviews (40 customer reviews)
  • Amazon Best Sellers Rank: #16,944 in Books (See Top 100 in Books)

Editorial Reviews

About the Author

DAVID CROOK is the editor of The Wall Street Journal Sunday, the personal finance section that appears in more than 75 papers around the country. He was part of the original team that developed and launched the highly successful “Weekend Journal” of Friday’s Wall Street Journal. He also developed the “Home Front” and “Property Report,” the Journal’s residential and commercial real-estate sections.

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Customer Reviews

4.5 out of 5 stars
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I liked this book because it was very informative on a very "real" level.
Trevor J. Flannigan
After reading the book I felt like I understood what is good to do and what is bad to do if I go through with a future in buying and flipping or rentals.
Mike
I would highly recommend it for the library of anyone starting out in real estate investing.
M. Frank

Most Helpful Customer Reviews

105 of 109 people found the following review helpful By J. E. Rexroth on January 22, 2007
Format: Paperback Verified Purchase
For clarity of style and reasonableness of approach to its subject, David Crook's THE WALL STREET JOURNAL COMPLETE REAL-ESTATE INVESTING GUIDEBOOK may not have a peer in the realm of investing advice.

Crook shines an antiseptic light on the shadowy "get rich quick" hucksterism that has plagued the world of real estate investing as a byproduct of a long runup in prices, a phenomenon that has also accompanied strong bull markets in US stocks intermittently for two centuries. And he does much more: he introduces, in a genial and accessible style, the complex details of buying real property for profit, as opposed to simply watching your own home's price rise and thinking of that as "investing."

His discussion of taxes, a particularly convoluted and arcane - yet crucial - area, is logical and well organized.

The author makes no secret of the fact that real estate investing, like all other kinds, is not sorcery and requires careful research, hard work, thorough preparation, and, most important of all, close attention to detail. Given a realistic understanding of the challenge, one can partner with this book as an inexpensive but wise adviser. It won't get you rich quick on no money down, but it will help you to make cautious and fact based decisions that are crucial to successful investing in any realm.

As a hedge fund manager, I am exposed to written financial advice of one sort or another virtually every minute of the day. I haven't seen writing that is more scrupulously researched and thoughtful (yet also personable) than that in THE WALL STREET JOURNAL COMPLETE REAL-ESTATE INVESTING GUIDEBOOK. I heartily recommend it.
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46 of 47 people found the following review helpful By Elle Michion on January 17, 2007
Format: Paperback
There are no cutely named house-flipping schemes here. There are no touchy-feely chapters to help you find the "courage to be rich." But for smart advice and an inspiring overview of the business of real-estate investing, this book is a must-read. Crook, editor of The Wall Street Journal Sunday, leads aspiring investors through locating, vetting and securing seed money for properties small and large. He also gives tips for managing your investment once you've made it. Surprisingly this potentially dry topic is anything but, thanks to lively writing, stories from real-life investors and witty one-liners. (On borrowing down-payment money from family members: "An 'Uncle Al' interest rate inevitably comes with Uncle Al's interest in your business.") If nothing else, read it to find out why your home does NOT count as an investment property.
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26 of 26 people found the following review helpful By Courtland G. Mcpherson on July 29, 2007
Format: Paperback
Whether you are just starting to think about investing or if you have been researching and buying for years, you should read this book. It clearly explains all the essential steps to becoming a successful investor and reveals many of the myths of real estate success. The author, David Crook, does not try to sugar coat the process one bit and can be brutally honest about the mistakes people make and the effort that is actually required to be an investor.

Crook covers all types of investment properties from single family and multifamily homes to apartment complexes and commercial spaces. He delves into the ups and downs of each type and doesn't fail to mention all the risks involved in each. Crook also explains in great detail and through some real life examples how to use tax laws to your benefit. He advises you on how to use the properties depreciation to off set profits and how to sell a property and trade up so that you don't have to pay any capital gains. The income and investment charts are especially helpful in this portion of the book by demonstrating exactly how the tax deductions will save thousands.

The chapter on being a landlord is a very important piece of the puzzle. Crook covers everything from finding tenants, writing leases, and where to keep rent checks. Some horror stories are included here to make you realize just how hard it is to rent a space to strangers. As with the rest of the book he is not trying to discourage you, he just wants to give you the mot honest look at what you're getting yourself into.

If you decide that buying a property and trying to rent it is not for you, Crook finishes up by explaining how Real Estate Investment Trusts work.
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18 of 19 people found the following review helpful By Trevor J. Flannigan VINE VOICE on October 1, 2009
Format: Paperback Verified Purchase
It's no secret, to those close to me, that I am a huge fan of real estate investing. The book of the week was The Wall Street Journal Complete Real-Estate Investing Guidebook by David Crook. I liked this book because it was very informative on a very "real" level. It didn't boast unreal expectations like many real estate books. The methods outlined within this book can take someone with somewhat little knowledge in the field and help them really start making money with investment properties.

There was one particularly helpful chart within this book that I would like to tell you about. The chart outlined how to prepare for your starter property. It is broken into 4 categories: 1-3 months, 4-6 months, 7-9 months and 10-12 months. Each time period has tasks to be completed within it... let me show you.

1-3 months- Educate yourself (read up on real estate investing), Network, Clean up personal finances (pay off your debts and correct credit reports)

4-6 months- Get the business going (interview banks, work on getting a corporate entity established), Walk the streets (know the areas where you will be doing your search), Check out properties (get a feel for the market and crunch numbers)

7-9 months- Get liquid (make funds available for when you need them), Go shopping (make some lowball offers and get a feeling for negotiating), Get preapproved from your bank or financial source

10-12 months- Go for it, do your due diligence, get your money

I think laying out a plan is especially helpful for anyone just getting off the ground. I love to make plans. I actually have plans for myself that range from month to month and even 10 years in the future. It really helps a person get things in perspective...
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