REITs: Building Profits with Real Estate Investment Trusts [Hardcover]

John A. Mullaney (Author)

Book Description

ISBN-10: 0471193240 | ISBN-13: 978-0471193241 | Publication Date: October 15, 1997 | Edition: 1

A timely and authoritative guide to today's hottest new investment vehicles "Finally, a book that covers REITs from A to Z that is understandable to both the layperson and the expert alike. John Mullaney is one of the very few real estate analysts who can simplify this complex new asset class and make the compelling argument that securitized real estate will continue to have a bright future and belongs in everyone's portfolio." --Peter Wheeler, President and COO, Commonwealth Equity Services "REITs: Building Profits with Real Estate Investment Trusts is a well-written and informative book not only on REITs, but real estate in general. It is a must-read for financial advisors who want to help their clients benefit from some of the outstanding investment opportunities which currently exist in the REIT industry." --Ina Fritsch, President, Fritsch Financial Services "This book is an excellent guide through the various sectors in the REIT industry and the leading companies in the business. I would recommend it for any investor interested in learning about the industry and how to select the right real estate investment trusts for their portfolio." --Charles K. Barbo, Chairman and CEO, Shurgard Storage Centers "I firmly believe that investors who manage and choose their own investments should understand the product they are investing in. John Mullaney's book is a great source for such investors to learn about real estate investments, valuing REITs, and making sound investment decisions." --Anne C. Ravetti, Meridian Industrial Trust

Editorial Reviews

From the Publisher

Around for years, but only recently becoming popular, real estate investment trusts (REITs) have doubled over the last five years. The text provides basic information regarding REITs, such as, a widerange of investment opportunities, how they work, investment strategies for each type of REIT, what the risks are, and how to find the best performing REITs.

From the Inside Flap

Real estate is back, and it’s back big. Today the hot, new investment opportunity is REITs—real estate investment trusts. Attracting investors in record numbers, REITs have recorded historical growth this decade. From a stock market value of less than $9 billion, the industry has grown to over $100 billion. It is now more diversified than ever, with over 200 publicly traded REITs—double the number that existed in 1992. In REITs: Building Profits with Real Estate Investment Trusts, John Mullaney, who has spent a career evaluating and managing real estate investments, offers a timely and comprehensive introduction to this increasingly popular investment opportunity. Along with a complete review of the different types of REITs and the various property sectors in which they invest, Mullaney provides a detailed look at the major REITs in each segment of the industry, their investment strategies, and their track records. Originally authorized by Congress in 1960, REITs gained new prominence starting in 1991 when Kimco Realty, a private real estate company, decided to go public. Since then, more than 100 private real estate companies have taken the same path. The result is that there are now more investment options in the REIT industry than ever before. To help you navigate your way in the REIT marketplace, REITs: Building Profits with Real Estate Investment Trusts examines all aspects of REITs to give you the necessary tools and know-how to select the REITs that meet your individual investment needs. Included is information on:

• What to look for in REITs—and what to avoid
• Finding the best-performing REITs
• The risks and benefits of different types of REITs
• The key differences between REITs and limited partnerships
• Mutual funds that specialize in real estate investments
• The future of the REIT industry

Vital information, practical guidance, and a wealth of sound advice make REITs: Building Profits with Real Estate Investment Trusts an indispensable resource for all looking to enter this rapidly expanding and potentially lucrative marketplace.

See all Editorial Reviews

Product Details

• Hardcover: 304 pages
• Publisher: Wiley; 1 edition (October 15, 1997)
• Language: English
• ISBN-10: 0471193240
• ISBN-13: 978-0471193241
• Product Dimensions: 9.5 x 6.4 x 1.1 inches
• Shipping Weight: 1.3 pounds (View shipping rates and policies)
• Average Customer Review: 3.0 out of 5 stars  See all reviews (2 customer reviews)
• Amazon Best Sellers Rank: #1,688,874 in Books (See Top 100 in Books)

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Customer Reviews

Most Helpful Customer Reviews

38 of 42 people found the following review helpful:

1.0 out of 5 stars Not good..., February 20, 2002

By 

John T. (Austin, Tx.) - See all my reviews

This review is from: REITs: Building Profits with Real Estate Investment Trusts (Hardcover)

Reasons not to read this book:
-it's out of date
-75% of the book is nothing more than a summary/overview of
existing reits. Basically book stuffin'
-one can obtain the above info from nareit.com and company
profiles from yahoo or other sites
-15% of it is the history of reits... nice to know but doesn't
help me pick the best reits
-10% is some basic accounting terminology and a vague sense
of what to look for in picking out a reit to invest in. I
already had this information from my web readings.

For someone with absouletly no knowledge of reits
or even investing I guess this would be a ok starting point.

just my two cents...

2 of 3 people found the following review helpful:

5.0 out of 5 stars A Solid But Unfortunately Dated Text Still Worth a Careful Read, April 6, 2007

By 

Gregory McMahan (Tottori, Japan) - See all my reviews
(VINE VOICE)   

This review is from: REITs: Building Profits with Real Estate Investment Trusts (Hardcover)

Make no mistake- Laws have changed and REIT offerings have expanded since the first publication of this book. However, the text offers the best, most accessible summary of the key principles involved in REIT investing for the little guy. I would pay very close attention to the general principles outlined in chapters 3, 4 and 16. Several chapters in the book look at a distinct property type (multi-family residential, commercial, triple net lease, among others) and deserve attention as well. Ignore all of the stock data and company profiles, as all of that information is useless now, given all the changes that have happened in this space over the last decade.

Don't let the admitted dated nature of the text keep you from gleaning its important 'secrets'. Too many gullible investors look at REITs for their fat, juicy yields, and inevitably get burned in the process. Like I said, pay very close attention to chapters 3, 4 and 16, and in a pinch, before investing, consult chapters 4 and 16 before you commit your funds.

I wish the guy would write an updated version of this little gem of a book. Read this book before you read a book like Block's Investing In REITs (latest publication is the 3rd Edition, circa 2006 or 2007) in order to put this particular investment into proper perspective.