Investing in apartment properties is made simple in this comprehensive resource for prospective buyers on how to make smart decisions about real estate and reach financial independence. Instructions, sample cases, worksheets, and real-life examples illustrate how to find and buy good property. An introduction to the real estate market for novices complements sophisticated discussions of finding value-added properties, determining market rent, obtaining a mortgage, refinancing, and selling. The expert advice presented offers an analytical approach to assuring predictable and successful investment in an often uncertain market.
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"Explores the process of analyzing and buying an apartment property as an investment." —Journal of Economic Literature
About the Author
Brian K. Friedman is a certified property manager and founder of Friedman Realty Company, a management company with more than 30 investment properties.
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Most Helpful Customer Reviews
20 of 21 people found the following review helpful:
5.0 out of 5 stars
Terrific stuff,
By
This review is from: The Real Estate Recipe: Make Millions by Buying Small Apartment Properties in Your Spare Time (Nuts & Bolts Series) (Hardcover)
Its a very comprehensive book detailing why and how to buy income producing property in a step by step process. Definitely is different from the rest of the "no money down, get rich overnight" stuff that is out there.
The book uses a mythical 10 unit apartment building purchase as the basis of the book, going from creative ways to write an offer, how to increase the intrinsic value of that 10 unit property (beyond the basic "raise the rent, lower the expenses" mantra), how to calculate cap rates, debt service coverage ratios, etc to knowing when to re-fi, sell, and other good stuff. I can say that I learned 3-4 new things that I hadn't realized before that I intend to immediately implement in my current apartment buildings and in order to pursue other deals. I'd recommend this book to the "advancing" investor- ie Joe Investor who owns at least 1 rental property and is looking to get into investments bigger than the dup/triplexes but not the humongous 55 unit buildings.
22 of 24 people found the following review helpful:
5.0 out of 5 stars
A pragmatic approach for achieving financial independence,
This review is from: The Real Estate Recipe: Make Millions by Buying Small Apartment Properties in Your Spare Time (Nuts & Bolts Series) (Hardcover)
As a successful part-time real estate investor, I've always been amused by the "get rich quick" real estate seminars and books that only seem to make their creators wealthy. Last month I was given a copy of this book, which I assumed fell into the above category, and reluctantly agreed to read it. Well, I was wrong. Mr. Friedman provides the reader with all the tools to evaluate, purchase, and operate smaller residential properties in a systematic way. You won't become Donald Trump overnight, but if you follow his methodology, you will achieve a measure of financial independence that good real estate investors enjoy.
15 of 16 people found the following review helpful:
4.0 out of 5 stars
Best I've Found Thus Far,
By
This review is from: The Real Estate Recipe: Make Millions by Buying Small Apartment Properties in Your Spare Time (Nuts & Bolts Series) (Hardcover)
Of the three books I've read on investing in multi-family real estate, this is by far the best. The author does a good job of walking the reader through from start to finish the purchase of a representative property. In the appendix the author provides several very easy to understand and useful financial analysis templates which can easily be recreated in Excel or any other spreadsheet program.
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Inside This Book
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First Sentence:
I have always noticed apartment properties as I drive by, but early in my career, one particular property I spotted stood out; it was attractive and obviously well cared for. Read the first page Key Phrases - Statistically Improbable Phrases (SIPs): (learn more)
laundry income, due diligence period, gross rental income, table shows percent, total cash investment, apartment properties, current economic value, repair credit, apartment property, multifamily property, capitalization rate, capitalization method, renovation costs, larger mortgage, payback method, income growth rate, mortgage balance, mortgage amount, property management company, rent roll, net operating income Key Phrases - Capitalized Phrases (CAPs): (learn more)
Marcy Gardens, Freddie Mac, Fannie Mae, Listing Agreement, Lighting Install, Miscellaneous Income, Application Fees, Certificate of Occupancy, Effective Gross Income, Free Apartment, Physical Vacancy New!
Books on Related Topics | Concordance | Text Stats Browse Sample Pages:
Front Cover | Table of Contents | First Pages | Index | Back Cover | Surprise Me!
I have always noticed apartment properties as I drive by, but early in my career, one particular property I spotted stood out; it was attractive and obviously well cared for. Read the first page Key Phrases - Statistically Improbable Phrases (SIPs): (learn more)
laundry income, due diligence period, gross rental income, table shows percent, total cash investment, apartment properties, current economic value, repair credit, apartment property, multifamily property, capitalization rate, capitalization method, renovation costs, larger mortgage, payback method, income growth rate, mortgage balance, mortgage amount, property management company, rent roll, net operating income Key Phrases - Capitalized Phrases (CAPs): (learn more)
Marcy Gardens, Freddie Mac, Fannie Mae, Listing Agreement, Lighting Install, Miscellaneous Income, Application Fees, Certificate of Occupancy, Effective Gross Income, Free Apartment, Physical Vacancy New!
Books on Related Topics | Concordance | Text Stats Browse Sample Pages:
Front Cover | Table of Contents | First Pages | Index | Back Cover | Surprise Me!
Citations (learn more)
This book cites 2
books:
1
book
cites this book:
- McGraw-Hill's Interest Amortization Tables by Jack C. Estes on 4 pages
- Real Estate (Methuen New Theatrescript) by Louise Page in Back Matter
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