The Unofficial Guide to Real Estate Investing (Paperback)

by Spencer Strauss (Author), Martin Stone (Author) "Congratulations! Today your life has changed. By buying and reading this book, you have taken the first step toward making your dreams come true..." (more)
Key Phrases: equity growth from appreciation, apartment association, investment real estate agent, Bright Idea, Richmond Street, Uncle Sam (more...)

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.

Product Description
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

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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 (51 customer reviews)
• Amazon.com Sales Rank: #113,193 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 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.

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

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.

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

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...