Investing in Real Estate

by Gary W. Eldred and Paul McGreevy

Book Overview

THE BESTSELLING GUIDE TO REAL ESTATE INVESTING Now in its fifth 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 investor Gary Eldred shows you how you can outperform the stock market by investing in residential real estate--the surest and safest way to build assets. This updated edition covers all the new trends and...

• Format: Paperback
• Language: English
• ISBN: 0471741205
• ISBN13: 9780471741206
• Release Date: November 2005
• Publisher: John Wiley & Sons
• Length: 314 Pages
• Weight: 0.95 lbs.
• Dimensions: 1.0" x 6.1" x 8.9"

Customer Reviews

Great book if you're thinking of getting into real estate

I've read many real estate books and this one is the best at covering the broadest spectrum. The best part about the book is that as other reviewers have stated, the book is up-to-date and not outdated like some other "get rich" quick real estate books. Those times are over. One word of caution is that the book does not touch on multi-family properties and could use a little more by the way of how to measure performance.

Helpful For Everyone

You're not just buying a book to read here. The amount of information in "Investing In Real Estate" makes it an investment. These are the facts. The way things are. There has been spiked interest in RE recently because of the recent low interest rates which has caused an upsurge home-buying in many parts of the country. With all of the real estate courses, seminars, tapes and books being marketed, how rare is it today to hear the facts and not just the hyperbole? This is the most comprehensive and detailed, to-the-point real estate book available. If you're a normal home owner and want to increase your home's value with some shrewd fixing-up before you sell it, you can get tons of pointers here. Want to find the best bargain with your first purchase or your new home? Manage your property(ies)?What criteria do you use to find the best property? How do you check to make sure? Creative financing is also covered. This is not just for those investing in apartments or a duplex but everyone. Want to rent-out your house? You will learn the basic laws and procedures, and how to write up the most appropriate lease and how to cross your "T's" and dot your "I's." Almost all of us know people who've rented their homes out and had "bad tenants." You'll learn how to screen properly here to avoid them, and how you can use the (local) law. There are many simple and proven math models on how to calculate the return you'll get from buying a detached house, condo, duplex, tri, fourplex, or multi-unit apartment complex. The Gross Rent Muliplyer (GRM), Income Capitalization "Caps," Net Operating Income (NOI), Return on Investment (ROI), and Before Tax Cash Flow (BTCF) etc. Add these simple equations and formulas to the fact that you likely live in the community (familiar with) you'll be buying/investing in, and you'll have the best chance to earn some positive Cash Flow, and choose the best option available. Ways to evaluate neighborhoods and areas that are up-and-coming, paying less taxes, and using depreciation and deductions properly are also covered. Very important for homebuyers and owners yes, but this is the most comprehensive book written for people who are looking to purchase property to plan ahead.

Packed with knowledge and techniques

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.

On target for today's market

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.

A must for Real Estate Investors (Novice or Expert)

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.