The Wall Street Journal. Complete Real-Estate Investing Guidebook

by David Crook

The conservative, thoughtful, thrifty investor's guide to building a real-estate empire. Profitable real-estate investing opportunities exist everywhere as long as you know what to look for and understand how to make prudent deals that transform property into profits. David Crook, of The Wall Street Journal , shows how to make safe and sane investments that ensure a good night's sleep as your real-estate portfolio grows, your properties appreciate...

• Format: Paperback
• Language: English
• ISBN: 0307345629
• ISBN13: 9780307345622
• Release Date: December 2006
• Publisher: Crown Publishing Group (NY)
• Length: 256 Pages
• Weight: 1.55 lbs.
• Dimensions: 0.7" x 5.2" x 9.0"

Customer Reviews

Down to earth realism to get to big $$$

David took a very realistic and repeatable approach to investing in real estate using analysis as support. It was a great book for newbies who are trying to learn broadly, before moving deeper into a specialty. Crook's belief that hard work get you the biggest bang for your buck is on point, however hard it might be to hear.

Excellent Real Life Guide- A Must for Newbies and Pros Alike

Whether you are just starting to think about investing or if you have been researching and buying for years, you should read this book. It clearly explains all the essential steps to becoming a successful investor and reveals many of the myths of real estate success. The author, David Crook, does not try to sugar coat the process one bit and can be brutally honest about the mistakes people make and the effort that is actually required to be an investor. Crook covers all types of investment properties from single family and multifamily homes to apartment complexes and commercial spaces. He delves into the ups and downs of each type and doesn't fail to mention all the risks involved in each. Crook also explains in great detail and through some real life examples how to use tax laws to your benefit. He advises you on how to use the properties depreciation to off set profits and how to sell a property and trade up so that you don't have to pay any capital gains. The income and investment charts are especially helpful in this portion of the book by demonstrating exactly how the tax deductions will save thousands. The chapter on being a landlord is a very important piece of the puzzle. Crook covers everything from finding tenants, writing leases, and where to keep rent checks. Some horror stories are included here to make you realize just how hard it is to rent a space to strangers. As with the rest of the book he is not trying to discourage you, he just wants to give you the mot honest look at what you're getting yourself into. If you decide that buying a property and trying to rent it is not for you, Crook finishes up by explaining how Real Estate Investment Trusts work. REITs are companies that invest in and manage properties and they sell their stocks on Wall Street. While buying REITs is not truly investing in real estate, it is a way for you to try reaping the benefits of someone else's investment experience. As an experienced Realtor, I highly recommend this book to anyone thinking of investing in properties. It covers all the groundwork and will give you a real taste of what you're getting yourself into.

"Hard Work, Not Sorcery"

For clarity of style and reasonableness of approach to its subject, David Crook's THE WALL STREET JOURNAL COMPLETE REAL-ESTATE INVESTING GUIDEBOOK may not have a peer in the realm of investing advice. Crook shines an antiseptic light on the shadowy "get rich quick" hucksterism that has plagued the world of real estate investing as a byproduct of a long runup in prices, a phenomenon that has also accompanied strong bull markets in US stocks intermittently for two centuries. And he does much more: he introduces, in a genial and accessible style, the complex details of buying real property for profit, as opposed to simply watching your own home's price rise and thinking of that as "investing." His discussion of taxes, a particularly convoluted and arcane - yet crucial - area, is logical and well organized. The author makes no secret of the fact that real estate investing, like all other kinds, is not sorcery and requires careful research, hard work, thorough preparation, and, most important of all, close attention to detail. Given a realistic understanding of the challenge, one can partner with this book as an inexpensive but wise adviser. It won't get you rich quick on no money down, but it will help you to make cautious and fact based decisions that are crucial to successful investing in any realm. As a hedge fund manager, I am exposed to written financial advice of one sort or another virtually every minute of the day. I haven't seen writing that is more scrupulously researched and thoughtful (yet also personable) than that in THE WALL STREET JOURNAL COMPLETE REAL-ESTATE INVESTING GUIDEBOOK. I heartily recommend it.

Must read

Very intuitive - great concepts that every real estate investor must know before adding new properties to your portfolio.

Sound advice--and a darn good read

There are no cutely named house-flipping schemes here. There are no touchy-feely chapters to help you find the "courage to be rich." But for smart advice and an inspiring overview of the business of real-estate investing, this book is a must-read. Crook, editor of The Wall Street Journal Sunday, leads aspiring investors through locating, vetting and securing seed money for properties small and large. He also gives tips for managing your investment once you've made it. Surprisingly this potentially dry topic is anything but, thanks to lively writing, stories from real-life investors and witty one-liners. (On borrowing down-payment money from family members: "An 'Uncle Al' interest rate inevitably comes with Uncle Al's interest in your business.") If nothing else, read it to find out why your home does NOT count as an investment property.