Investing in Real Estate (Third Edition) (Paperback)

by Andrew James McLean (Author), Gary W. Eldred (Author) "It now seems that nearly everyone wants to become the "millionaire next door..." (more)
Key Phrases: repair escrow, small income properties, foreclosure specialists, Fannie Mae, Freddie Mac, San Francisco (more...)

Editorial Reviews

Product Description
"This is the best of the how-to-invest-in-real-estate books currently available."–Robert Bruss, from his review of the Second Edition

The bestselling guide to residential real estate investment–updated and expanded for today’s market

Experienced and successful real estate investors Andrew McLean and Gary Eldred explain in an easy-to-read guide–packed with examples–how you can make money investing in houses and small apartment buildings. Even with today’s lower rates of inflation, residential real estate remains your surest and safest way to build wealth.

Now, to help you achieve a profitable and secure future, this new Third Edition of the ever-popular Investing in Real Estate explains why your real estate investments can outperform the stock market and demonstrates how to enhance cash flow, negotiate deals, spot market trends, and explore the Internet. It also covers the important tax law information you need to know. Experts McLean and Eldred show you how to:

• Buy with little or no money coming out of your own pocket
• Build wealth without paying taxes on capital gains
• Select neighborhoods and properties that will beat the market with faster rates of appreciation
• Create $2 to $10 of value for every $1 you invest in improvements
• Select from more than a dozen techniques to finance your purchases

To plan for your child’s college education, a higher quality of life, or a prosperous retirement, read Investing in Real Estate. It’s still the most insightful and authoritative guide available.

From the Back Cover
"This is the best of the how-to-invest-in-real-estate books currently available."
–Robert Bruss, syndicated columnist and real estate author

THE BESTSELLING GUIDE TO REAL ESTATE INVESTING

Now in its fourth edition, Investing in Real Estate is the straightforward guide that helps you start growing your fortune by investing in houses and small apartment buildings. Successful real estate investors Andrew McLean and Gary Eldred show you how you can outperform the stock market by investing in residential real estate–the surest and safest way to build assets.

This new edition offers an expanded discussion of the best methods and techniques for fixing and flipping properties and creating value. You’ ll also find all the information you need to start investing now, as well as up-to-date tips on maintaining cash flow, negotiating deals, spotting market trends, and using the Internet as a research tool to find and buy properties. Let McLean and Eldred show you how to:

• Buy with little or no money down
• Minimize taxes while building your wealth
• Choose neighborhoods and properties that will beat the market with faster rates of appreciation
• Grow value in your properties by investing in improvements
• Pick the best way to finance your purchases

Whether you need money for your child’s college tuition, a more comfortable retirement, or just a higher standard of living, Investing in Real Estate, Fourth Edition is the only guide you need to start building wealth now. --This text refers to an out of print or unavailable edition of this title.

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Product Details

• Paperback: 336 pages
• Publisher: John Wiley & Sons; 3rd edition (March 22, 2001)
• Language: English
• ISBN-10: 0471406589
• ISBN-13: 978-0471406587
• Product Dimensions: 9.1 x 6 x 1 inches
• Shipping Weight: 15.2 ounces
• Average Customer Review: 4.5 out of 5 stars See all reviews (119 customer reviews)
• Amazon.com Sales Rank: #306,943 in Books (See Bestsellers in Books)

Customer Reviews

Most Helpful Customer Reviews

319 of 326 people found the following review helpful:

5.0 out of 5 stars Packed with knowledge and techniques, June 13, 2002

By	john zack (Miami, OH) - See all my reviews

I bought the top 3 r.e. books (Investing in Real Estate, Real Estate Riches, Unofficial Guide). I could have bought just this one. It covers EVERYTHING the other books go over, AND it gives you FAR MORE DETAILS and far better explanations. I urge you to compare the contents--buying foreclosures, buying bargains, creative improvements, financing, paying less taxes, predicting appreciation, valuing properties. You will see what I mean. While Unofficial clearly beats Riches, it still gives you wrong or glossed over info much of the time. Unofficial is especially weak on financing, buying bargains, foreclosures, and valuation, though it's pretty good on management. I can offer this critique because Investing In Real Estate set the standard from which I could make an intelligent comparison. All of those readers who rated UNOFFICIAL with five stars could not have known much about real estate. They surely believed that they learned more than they actually did. Over and over, I read similar topics in IRE and Unofficial, and each time I developed my understanding from IRE and quickly spotted the glibness of Unofficial. Don't take my word for it. Go into a bookstore and compare for yourself. As to Real Estate Riches, DON"T BOTHER--unless you're a rich dad groupie.

261 of 266 people found the following review helpful:

5.0 out of 5 stars On target for today's market, May 15, 2002

By	Cassidy Uranne (Panama City, FL) - See all my reviews

This is the 5th r.e. book on investing I've read. But it was the first one to recognize that we're no longer living in the 1980s or even the early 90s. Sorry folks you can't buy foreclosures at pennies on the dollar. You can't find "motivated" sellers who will let you steal their properties for 60 cents on the dollar. Non-qual assumptions? Good luck trying to find one that's workable. Cash back at closing--dream on! Yes the gurus will lead you to believe that anyone can use these and many other outdated and super risky "creative" techniques. I know from experience because I wasted much money, time and effort chasing after their promised rainbows. Luckily, this book offered welcome relief. Factual, up-to-date, and very specific about the real opportunities (and pitfalls) in foreclosures, high leverage, property improvements, and tenant management. Do yourself a favor. Before you run amok with illusive hopes, read this "state-of-the art" guide. Some years ago I read a great book (Million Dollar Habits) by Robert Ringer. The first chapter was called "The Reality Principle." Well, Investing In Real Estate stands as one good dose of reality. This is the most real-world introduction I've found.

52 of 54 people found the following review helpful:

5.0 out of 5 stars A must for Real Estate Investors (Novice or Expert), August 7, 2001

By A Customer

This book is a very long read, so be prepared for it. It is jam packed with information and is probably the best real estate investment book I've read so far. The difference between other books and this one is that there is no hype or BS. I can't stand Carlton Sheets and just love the slamming of the "investor wannabe who just graduated a nothing down course." This book puts all hype to rest and reads facts. If there was a college textbook for Real Estate Investing this would be the one. I would have to say the only downside is the lack of detail when dealing with Probate and Sheriff's Sales. I think they were so brief is due to the localized nature of them and differing laws from state to state. Other than that is excellent. But like I said, it's a long read, but well worth it.