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The Common Sense Guide to Real Estate Investing Paperback – August 12, 2010
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Top Customer Reviews
This book is a gift to anyone looking to invest in real estate using the pragmatic "Value Oriented" approach the big boys use. It's based on the adage: you make money on a real estate deal when you purchase it, so buy something you know will cash flow from the get-go and you won't get burned later on. It's an approach that works in both good markets and bad. PS: This is the exact opposite approach taken by the fly-by-night investors that crashed the real estate market not so long ago.
Most importantly, the book details the hidden landmines people often overlook when doing the numbers on a potential property, a mistake that can mean the difference between showing a steady profit and foreclosure.
I really like the fact the book outlines in a step-by-step fashion exactly how Brzeski analyzes a property so even a novice investor can understand. His 5-minute "Back of the Envelope" method for analyzing whether a deal will be profitable is genius and worth of the cost of the book in itself. Brzeski was the long time lead analyst for one of LA's most successful real estate legends so it's nice to be able to see some of the tricks he uses to pick investments.
Mr. Brzeski starts with a basic introduction to the field but quickly builds up the reader's knowledge so that the later, more sophisticated chapters are also easily understood. He then delves into more advanced topics and ends with a number of very helpful case studies which illustrate the concepts presented throughout the book.
There are any number of books that show how to calculate a cap rate or a gross rent multiplier, however Mr. Brzeski's text is the only one I have come across that acknowledges specific issues for different types of investment properties - for example, the need to establish a strong anchor and jr. anchor in a shopping center, or the strategy of buying low density properties (relative to the surroundings) in order to preserve the ability to develop and increase density in the future. In case you are curious Mr. Brzeski also includes very clear instructions for calculating and understanding cap rates as well as all of the other necessary formulae.
This book is an excellent introductory primer to investment real estate and I recommend it to anyone who is interested in the topic.
Most Recent Customer Reviews
This book explains the basic principals of real estate investment in a simple language, yet it is complete and thorough enough to educate the reader with the most important... Read morePublished on August 24, 2011 by KamranB
This book is a tremendous resource for value investing, combining the nuts and bolts with practical experience that only comes with many years of successful investing.Published on August 11, 2011 by Joe Cilic SVP Sotheby's International Realty