Customer Reviews

How to Invest in Condominiums: The Low-Risk Option for Long-Term Cash Flow

5 star:		(9)
4 star:		(3)
3 star:		(0)
2 star:		(1)
1 star:		(0)

 

 

This book is so easy to read and understand. After watching my stocks loose all of their gains from the last 10 years almost over night, I determined to use this investment formula for my future. The plan is straight foreword and can be applied any where you live. I have already purchased my first rental and it is paying for itself.

An absolute MUST-READ for renters, owners and investors! Virsnieks' book was a real eye-opener for me as a beginner, taking the scariness out of investing in real esate. He describes his very safe, easy, painless and patient step-by-step method he developed personally for buying one condominium at a time to slowly build up a real estate portfolio. His conversational tone makes his book fun to read. Buy it and read it, it will change your whole outlook on investing!

This is a very informative book. One of the great things about it is that the author provides his own personal investment story along with complete details on each investment. In other words, this is not mere theory, it is actual history that can be replicated by the savy reader and investor. While he was located in Seattle, I believe that any mid-sized to large city in the country (Atlanta, Phoenix, etc.) would provide the same condo investment climate today.

This is the best book for the beginning investor and for all those who ned a place to live. The author of "How to Invest in Condominiums" bought his first condominiumum as a residence rather than throw away money on rent. Hence the first principle of is invest plan to invest in a place that you yourself would live in. The second principle, as I see it, is do the research and make sure that most of the units are owner occupied. This will insure pride of ownership and ensure that your investment is protected by all the other owners. I am recommending this to book to my friends in San Diego. Those who invested or bought condominiums in 1997 are now very happy. Those who rented and invested in the booming 1997 stockmarket are now crying ower spilt milk. Even for those who are not investors but need a place to live this book is an excellent easy to follow guide to fiscal security. This is a risk free, insofar as life can be risk free, and can't lose investment guide.

This book is great for someone with no knowledge of real estate investing. I was hoping for something more detailed and useful. I already own a house which i rent out entirely and was considering condo's as an alternative and this book didn't really teach me anything i didn't already know. eg... for the most part is was "this + that - this = profit".

I enjoyed Andris Virsnieks' book very much. The author writes in an informative, intelligent and down to earth style. His premise is buy brand new condos as investment rental properties, and hire a professional management company to deal with the tenants and the day to day grind. I like it. I like the premise. I like the low involvement approach, and I'm convinced that the author did what he said he did. As opposed to some OTHER real estate authors whose books belong in the fiction section. New buildings should have fewer physical problems and many of those will/should be taken care of by the builder/developer. The author has been sucessful using his techniques and for that I applaud him.

There were a few things that I was less than satified with the book. The author only bought 7 or 8 condos and the last one was in 1986. His condo purchases were only in the Seattle, Washington area and some of his experiences and therefore conclusions may not be universal. And lastly though the book was published in 2001, it appears that much of the book was written in 1997 and many of the statistics end in 1996. A re-edited version NOT referring to the last stock market downturn as being in 1987 would have been appreciated.

I've owned condominiums myself and currently still own condos. I can attest to the truth and wisdom in Mr. Virsnieks' book. He has a plan, he executes that plan, and has written good accounting of his personal path to a steady income, very little hassle and time, as well as early retirement. This is not a get rich quick book, and the author does not have the bluster of late night informercials; but this is a clear worthwhile read.

Easy? Free lunch? We know that's not possible but this book seems to have a foundation that leans favorably in that direction. A simple enough plan with a simple enough philosophy in an easy to read layout. This book opened my eyes (and potentially soon my wallet) to an investment strategy I hadn't even thought of. The icing on the cake is that it's easy to read and flows nicely. For anyone interested in where they want to put their money and have it grow with minimal risk this is worth checking out.

A simple enough plan with a simple enough philosophy in an easy to read layout. What more does one need to climb the investment mountain? This book opened my eyes (and soon my wallet) to an investment strategy I'd not considered. And the icing on the cake? It's an extremely easy, nonconvoluted read.

This book is very well organized and laid out, and stylistically written. And, it's an American success story, by an author who was able to retire while still young, and who generously shares his formula for success -- very worthwhile reading. The author uses simple averages (not compounded) from a five-year period to estimate a rate of return on investment of 20.8 percent. However, from the two properties he sold his ACTUAL REALIZED rate of return is SUPERIOR to his estimate. But, the author has buried this fact in the back of the book, in small print. Condominium no. 2 (see p. 177) over the whole life of the investment realized an Internal Rate of Return (IRR) of 26.4 percent (an IRR provides a greater yield than a simple average return on investment). Condominium no. 5 (see p. 179) over the whole life of the investment realized an IRR of 12.9 percent. The weighted average investment result for these two properties is an IRR of 21.2 percent! At first glance, the difference of only 0.4 percent between the simple average rate of return of 20.8 percent and the weighted average IRR of 21.2 percent may not seem significant. But, in reality the difference is very significant, because an IRR calculation takes into account the present value of future cash flows, and a simple average rate of return calculation does not. The author was apparently not aware that in the appendices in the back of his book he had a louder drum to beat.

In these days of dismal stock market performance it's refreshing to find an investment that combines safety with good returns. My interest in the good returns available in real estate have always been offset by the amount of effort usually required from its owner. Virsnieks' book has changed that all for me.

Here in one place is a comprehensive collection of what every investor needs to know to make money in real estate the low maintenance way. The book is straight forward, easy to read and even the beginner can learn all he or she needs to know to profit from investing in condominiums.

It is a wonder how much good, useful information is contained in this book. This book is a real find!