The Unofficial Guide to Real Estate Investing [Paperback]

Spencer Strauss (Author), Martin Stone (Author)

Book Description

Series: Unofficial Guides | Publication Date: August 22, 2003

The inside scoop... for when you want more than the official line!

We've all heard stories of the millionaire real-estate tycoons who started out by scraping together enough money for a down payment on a modest first property-or so the legend goes. And we've all seen the books that promise to show you how to make a million dollars buying houses with no money down. But when average people like us can barely pay the mortgage or the rent, we don't need get-rich-quick schemes or hocus-pocus-we need the inside scoop on how real estate investing can improve our lives.

The Unofficial Guide to Real Estate Investing, Second Edition, gives savvy readers like you a foolproof appraisal of everything from the most basic concepts of real estate investing to complicated tax and financing formulations. Millions of Americans got burned when the Internet bubble burst and corporate scoundrels ran off with their retirement accounts. Now they're discovering that real estate can be their ticket to a prosperous retirement. Fully updated to take account of new tax law changes and now including listings of current apartment owners' associations in all 50 states, this new edition is friendlier and more comprehensive than ever. If you're looking for a long-term investment that you can control-safe from robber barons and market swings-look no further than The Unofficial Guide to Real Estate Investing, Second Edition.
* Vital Information on the inside world of real estate investing
* Insider Secrets on tax shelter benefits
* Money-Saving Techniques for valuing property correctly and determining its most profitable use
* Time-Saving Tips on borrowing money and discovering which investments have the potential to turn into tomorrow's hot properties
* The Latest Trends in hot real estate investing options
* Handy Checklists and charts that help you put together a top-rate investment plan, generate cash flow, and pick the best real estate agent

Editorial Reviews

Amazon.com Review

If you think the only path to riches is through the stock market, then think again. In The Unofficial Guide to Real Estate Investing, Martin Stone and Spencer Strauss show how to generate financial security one property at a time. The authors, both real estate brokers, illustrate basic concepts such as researching and valuing properties, obtaining financing, managing tenants and expenses, and dealing with taxes. They believe that the "biggest little secret" in real estate is the tremendous leverage that investors can enjoy. They write, "If you have $9,000 to invest, for example, you could buy $9,000 worth of stocks, bonds, coins, or art. With $9,000 to invest in real estate, however, you could purchase a four-unit FHA apartment building worth $300,000." The book includes hundreds of tips on everything from how to minimize vacancies and be a good landlord to making an offer and working with contractors. Well written and easy to read, The Unofficial Guide to Real Estate Investing is a solid introduction for anyone seriously considering real estate as full- or part-time source of income. --This text refers to an out of print or unavailable edition of this title.

From the Back Cover

The inside scoop... for when you want more than the official line!

We’ve all heard stories of the millionaire real-estate tycoons who started out by scraping together enough money for a down payment on a modest first property–or so the legend goes. And we’ve all seen the books that promise to show you how to make a million dollars buying houses with no money down. But when average people like us can barely pay the mortgage or the rent, we don’t need get-rich-quick schemes or hocus-pocus–we need the inside scoop on how real estate investing can improve our lives.

The Unofficial Guide to Real Estate Investing, Second Edition, gives savvy readers like you a foolproof appraisal of everything from the most basic concepts of real estate investing to complicated tax and financing formulations. Millions of Americans got burned when the Internet bubble burst and corporate scoundrels ran off with their retirement accounts. Now they’re discovering that real estate can be their ticket to a prosperous retirement. Fully updated to take account of new tax law changes and now including listings of current apartment owners’ associations in all 50 states, this new edition is friendlier and more comprehensive than ever. If you’re looking for a long-term investment that you can control–safe from robber barons and market swings–look no further than The Unofficial Guide to Real Estate Investing, Second Edition.

• Vital Information on the inside world of real estate investing
• Insider Secrets on tax shelter benefits
• Money-Saving Techniques for valuing property correctly and determining its most profitable use
• Time-Saving Tips on borrowing money and discovering which investments have the potential to turn into tomorrow’s hot properties
• The Latest Trends in hot real estate investing options
• Handy Checklists and charts that help you put together a top-rate investment plan, generate cash flow, and pick the best real estate agent

See all Editorial Reviews

Product Details

• Paperback: 504 pages
• Publisher: Wiley; 2 edition (August 22, 2003)
• Language: English
• ISBN-10: 0764537091
• ISBN-13: 978-0764537097
• Product Dimensions: 8.3 x 5.3 x 1.1 inches
• Shipping Weight: 1.1 pounds (View shipping rates and policies)
• Average Customer Review: 4.4 out of 5 stars  See all reviews (52 customer reviews)
• Amazon Best Sellers Rank: #437,719 in Books (See Top 100 in Books)

Customer Reviews

Most Helpful Customer Reviews

60 of 62 people found the following review helpful:

5.0 out of 5 stars Excellent choice for novice real estate investors, May 23, 2000

By 

"m_garrett" - See all my reviews

This review is from: The Unofficial Guide to Real Estate Investing (Paperback)

This book is excellent, it covers most of the basics for first-time investors (and I expect that it is a great reference for the follow-on transactions). The section on valuation was particlarly useful. I also liked the idea of writing down an investment plan and checking your progress/udating it yearly. This will help keep you on track to achieve your goals.

I accidently left my copy on an airplane last weekend and am replacing it today. With information from this book, I hope to make an offer on my first investment property next week. However, one book is not enough. I suggest readers check out several other titles including "Real Estate Investing From A to Z" by W. H. Pivar and "Rental Houses for the Successful Small Investor" by S.P. Thomas.

39 of 41 people found the following review helpful:

2.0 out of 5 stars Written by a committee - and it shows, October 26, 2001

By 

Dallas A. Babineaux "DallasAB" (Mackinaw, IL USA) - See all my reviews
(REAL NAME)   

Amazon Verified Purchase

This review is from: The Unofficial Guide to Real Estate Investing (Paperback)

Although this book was very well organized and clearly written, it lacks depth and detail... almost as if many things were "left out" for one reason or another. I moved on to my next title
"Investing in Real Estate" 3rd edition, and I'm only on chapter 3 and have already gotten more out of it than I received from "The Unofficial Guide". If your looking for a great book on the subject, I would suggest you forego this title and go for the "Investing in Real Estate" 3rd edition instead.

38 of 40 people found the following review helpful:

5.0 out of 5 stars Should be retitled "The OFFICIAL Guide", April 26, 2000

By 

Bryan Moore - See all my reviews

This review is from: The Unofficial Guide to Real Estate Investing (Paperback)

Stone & Strauss have laid out a very well organized and easy to read masterpiece on real estate investing. The book focuses on an important aspect that most others miss- PLANNING for success by strategizing a step-by-step long term process instead of focusing on the unrealistic yet prevalent "get rich quick" strategy that so many of the other books try to lure you in with.

The chapters are well organized with real world case studies and great anecdotal information that go into great technical depth without taxing your comprehension in the process. Among the 16 valuable chapters is one dedicated to assisting the reader in building a long term investment plan that is tailored specifically to their needs.

I gotta go now,...there are quite a few 4-plexes out there to conquer.