Customer Reviews

The Real Estate Recipe: Make Millions by Buying Small Apartment Properties in Your Spare Time (Nuts & Bolts Series)

5 star:		(10)
4 star:		(2)
3 star:		(0)
2 star:		(0)
1 star:		(2)

 

 

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.

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.

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.

This is one of four books on purchasing and managing real estate that we purchased. Although pricey due to availability in hardback only, for those such as us that are first time buyers of commercial real estate, the data, clarity of thought and information will likely prove very valuable. It is a quick read that provides the basic tenets of buying multi-family units. The financial elements are fairly simplistic; hence we purchased an additional book that delves into the intricacies of purchasing and financing multi-family units.

I've met many people who have made small fortunes in real estate, but I've never had the guts to take the plunge myself. Reading this book is the next best thing to having a real estate tycoon volunteer to be your mentor, holding your hand through every step of the process. The book is exceptionally well written in clear, easy-to-understand terms with a step-by-step approach to getting started in real estate investing. The book is filled with real and hypothetical examples to illustrate every step of the process, plus worksheets, checklists, and tables to help the reader locate, purchase, and manage their own property. No, I haven't quit my job yet, but now I can see that it's possible. My advice - BUY THIS BOOK!

I found the book to be a very concise (Nuts & Bolts) and logical approach to buying small apartment properties from someone who obviously knows the process. He gives you all the tools needed to anaylise, purchase, manage and project profits. The forms in the book are easily accessed at the publisher's website www.dnapress.com for downloading. I'm closing on a 7 unit property in less than 2 weeks. Thanks Brian!

This is book is the real reference guide for the real estate investor interested in small appartment properties. It is surprising that a fellow reader found the book to be lacking hypothetical examples. It does not need hypothetical examples because this is a real guide for investing. No waste of time - just right to the point. Study the strategy, buy some appartments, and make some money. Good job!

I have read and own numerous books on real estate investment and found this one to be one of the most concise and detailed books on apartment house investing on the market. I really don't understand what a previous reviewer meant by that it was a total loss. I found it to be detailed and informative. It literally takes you by the hand leads into investing on a property. I will be following the author's advice and begin investing in small apartment properties. If you are seeking true financial independence, you would be wise to purchase this book and not the crap promoted on late night t.v.

As a retailer in Aspen Colorado I've met many high net-worth individuals, a good percentage of which, I've discovered, have made their money in real estate. I've always been tempted to get involved in this form of investment, but didn't know how to begin. "The Real Estate Recipe" gives you an easy to understand formula to get started. Using simple language and practical examples, this book teaches you all the fundamentals necessary to buy, finance, and manage residential real estate; and thereby gain financial independence.

Other books on multi-family investing are good, but they do not provide the details that this book does, and that's what makes it stand out. The step-by-step approach in this book makes it possible to have some kind of plan to follow and succeed in real estate investing. In addition to teaching about how to analyze, purchase, and operate multi-family properties, the author includes various forms and checklists. They can also be downloaded from his website which saves you time because you don't have to retype them. I found the chapter on creating value through renovation fabulous. If you are starting out in multi-family investing, you will not be disappointed with this book.

- Mariusz Skonieczny, author of Why Are We So Clueless about the Stock Market? Learn how to invest your money, how to pick stocks, and how to make money in the stock market