Customer Reviews

Buy Low, Rent Smart, Sell High: Real Estate Investing for the Long Run

5 star:		(16)
4 star:		(2)
3 star:		(2)
2 star:		(1)
1 star:		(1)

 

 

This is a handbook for Real Estate investors. Lots of useful tips and examples and an honest and fair way of doing business.
I found very useful the real life cases and the examples of contracts, letters, and way of working with the lease/purchase model.

in books of this type. These guys supposedly based their business around REO properties. Usually buying from the bank after the foreclosure process for 25% less than market value. They must live in an area with absolutely NO competition. Where I live everybody and their dog is after these types of properties, thus it is impossible to buy these houses for this type of discount. If you can get one it will be a DOG and you had better be ready to pour some money in it to get it sellable.

Another beef is with their numbers. They assume at one point purchasing a house with a mortgage for $67500 say that your PITI(principal, interest, taxes and insurance) will be $500. They then say you can rent this type of house for $1000. Not in my neck of the woods. Be sure to check your local numbers for insurance and taxes and rental rates.

That said, I do like their Rent-to-Own sales plan and the premise that someone renting-to own will take better care of the property than a transient renter would. I also like their breakdown of the six profits centers they look for in each property.

If you are looking for a way to get started in real estate I recommend their plan once you have purchased the property, I just wouldnt limit yourself to just trying to fight for REO houses. There are many opportunities for buying houses for less than market price, just do your homework and don't limit yourself.

This book was very easy to read, and very clear. It offers a clear plan how to sell medium income family homes on contract and make a nice profit. I find the ideas very exciting because I would rather the renter take more responsibility for the home, and when they are working to actually OWN the house, thats exactly what they do. One note, you need to get the homes at %20 below appraised value, which basicly means getting foreclosed homes, but it does tell you how to do this. I only have one rental house, but I believe I'm going to use this book to sell it on contract to my renters.

I just don't see how books such as this fall into the hands of the small-time investor. It's true that to be a big-time investor you need to learn what the big guys do. Having said that, this one just assumes you have bought and sold homes for as long as the author (20 years) but that pertains only to 1 out of 500 of us. Most of us have a few houses and we want solid advice on how to make our investment work better.

If you buy and sell properties in the Manhattan or Los Angeles area this book is for you. If you are an average real estate investor or rent house owner, many better titles exist for you.

This book gives a real-world, practical guide to part-time investing in real estate. It is a pragmatic approach that minimizes the risks of market downturns, high debt and the other half-baked approaches. It does not give the unrealistic promise of overnight success but a solid step-by-step plan that works.

I think Heller and Frank have done a fine job of laying out their strategy and I commend them for their compassionate approach to selling their properties. Still...I found the inconsistencies in the book weakened their position considerably. One doesn't have to read far to find several. What's more the numbers they use in their example calculations are very optimistic, perhaps a little too optimistic. I can't speak for the real estate markets in the South East, where the authors appear to reside, but I can say that formulas presented in the book are not valid for 'most' Western real estate markets.

I think this book is worth a read (it can be read in one or two sittings) if only for the twist Heller and Frank have put on the lease / purchase approach. As long as one is aware that the authors' statements are purely for example and is further aware that substantially less gain may be realized than the authors state using their technique 'by the book,' this is a worthwhile text to consider.

After reading several real estate books I found this one, devoured it in a few days and took action. The system explained in the book is elegantly simple and especially effective for a part time investor. Complete with sample documents and case studies Andy and Scott do a great job. They share a model that is not only profitable but refreshingly ethical. A win/win/win and a must read for any current or future real estate investor. Thanks Andy and Scott!

Congratulations for finally writing a book which focuses on the essentials of the real estate market! I found this book an excellent resource which stands out from the jungle of real estate books available, because it is short, comprehensive and easy to understand. The best is that is gives the reader a step by step guide from hunting the right property over investing and finally harvesting the big bucks!

This book really helped me to tie together all the necessary steps involved in making a qualified decision of entering into the real estate market. Coming from a different industry this book gives a quick and easy to understand overview of the "do's and don'ts" in buying, renting and selling. You should consider giving seminars on this topic!

This book is, without a doubt, the best book I have come across in a very long time for real estate investment. The book contains information for both the novice as well as the experienced real estate investor. I particularly like that Heller and Frank are doing a service to others while still building a financially successful real estate business. Given the times we are in right now in our world, it is refreshing to see a book that is financially intelligent as well as "conscious". I look forward to applying the principles learned from this wonderful book!! Thank you Heller and Frank.