The Unofficial Guide to Real Estate Investing (Paperback)

~ (Author), (Author) "The desire to obtain material things is a basic human quality..." (more)
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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.

Product Description

After beating back a slump a decade ago, real estate has rebounded in a big way for the Millenium, offering a hot investment vehicle that even novices can ride to riches. The Unofficial Guide to Real Estate Investing clearly shows that the secret in getting rich lies not in get-rich-quick schemes but rather in investing in a commodity that has been around since the beginning of time -- terra firma, property. A small capital investment today can be leveraged into huge profits tomorrow.

Readers learn how to:

• Buy and manage every type of investment property, from houses to condos to large units to commercial property to land for development
• Value property correctly
• Live through the "due diligence" period
• Handle tenant problems without turning into an 'evil' landlord.

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Product Details

• Paperback: 446 pages
• Publisher: John Wiley & Sons; 1st edition (January 1999)
• Language: English
• ISBN-10: 0028636651
• ISBN-13: 978-0028636658
• Product Dimensions: 8.2 x 5 x 1.4 inches
• Shipping Weight: 1.4 pounds
• Average Customer Review: 4.4 out of 5 stars  See all reviews (52 customer reviews)
• Amazon.com Sales Rank: #453,113 in Books (See Bestsellers in Books)

Customer Reviews

Most Helpful Customer Reviews

58 of 59 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" (Morgan Hill, CA USA) - See all my reviews

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.

37 of 39 people found the following review helpful:

5.0 out of 5 stars Should be retitled "The OFFICIAL Guide", April 27, 2000

By	Bryan Moore (Long Beach, California) - See all my reviews

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.

30 of 31 people found the following review helpful:

5.0 out of 5 stars Very Realistic, Very Specific, Very Comprehensive, February 13, 2001

By A Customer

This book is not entertaining. It doesn't have a catchy title. There aren't get rich quick schemes. You won't find a way to buy houses with no money down. You won't find a way to make money without lifting a finger. If you want a book lie that, read "rich dad, poor dad." However, that book will leave you frustrated because of it's endless babble about how some other guy got rich. It's basically a long pep talk.

In contrast, the Unofficial Guide gives you a realistic example of how and why this type of investing works. It goes into a great deal of detail about the benefits and drawbacks. It gives a pretty picture of the real estate business in an understandable manner and shows several different ways that profits can be made. It seems to be slightly geared towards investors who are interested in rental housing - especially buildings with 4+ units - but there is still more than enough information to justify any investor's purchase. Experienced investors would be helped if they aren't seeing very good profits or if they just want to renew their education and get some helpful points.

The only drawbacks to this book would be the way taxes are presented. There are several points that are a spread out over several chapters and I was left a little confused. It would've been a little better to do a full discussion of taxes from a very basic level in one of the first chapters, then reference that chapter throughout the book. Without a doubt, I still gained a better understanding than I had before, but it could've been done a little better...