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The ABCs of Real Estate Investing: The Secrets of Finding Hidden Profits Most Investors Miss Paperback – Feb 21 2012

3.1 out of 5 stars 7 customer reviews

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Product Details

  • Paperback: 220 pages
  • Publisher: RDA Press, LLC; Reprint edition (Feb. 21 2012)
  • Language: English
  • ISBN-10: 1937832031
  • ISBN-13: 978-1937832032
  • Product Dimensions: 15.2 x 1.5 x 22.6 cm
  • Shipping Weight: 181 g
  • Average Customer Review: 3.1 out of 5 stars 7 customer reviews
  • Amazon Bestsellers Rank: #6,010 in Books (See Top 100 in Books)
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Product Description

About the Author

Ken McElroy, Principal and Co-Partner of MC Companies, has over 26 years of
senior level experience in multifamily asset and property management,
development. Having purchased over $400 million in real estate in the past two
years, Ken brings a unique property management perspective when estimating a
property's potential value. Ken oversees the company's asset portfolio and leads
the day-to-day operations including financial and operating analysis, investor
relations and business development. An industry veteran, Ken has served in
leadership roles in multi-family asset and property management for more than
26 years. He is also an expert in development, project/construction
management, investment analysis and acquisitions/dispositions, as well as
business development and client relations.

MC Companies is a full-service real estate investment and property management
group that since 1985 has developed, built and managed multi-family housing
communities. Its current portfolio includes units in Arizona (Phoenix, Tucson,
Goodyear, Scottsdale, Green Valley, and Sun City); Las Vegas, Nevada; Portland,
Oregon; Oklahoma (Oklahoma City and Tulsa) and Texas (Austin, Dallas,
Houston, Plano, and San Antonio).

"The MC Companies combined core strengths create value and is the foundation
for the company we built. For us, a culture of partnership isn't something we
hang on the wall. It's something we actually live minute-by-minute when we
bring on a new property management contract, run the numbers on an
apartment community we're thinking about buying or map out the strategic
direction for our company in the coming year. It's our mutual respect, our
respective talents and our combined actions that come into play and create our
commitment to Sharing the Good Life with our families, friends, investors,
employees and our family of community residents.

"

From AudioFile

An excellent example of the helpful financial audios produced by Robert Kiyosaki's Rich Dad company, Garrett Sutton's can-do lesson is an excellent lesson on how to rise above debt. He provides a largely sympathetic lesson on why people dig such holes for themselves and why creditors let them. The information is nicely condensed and includes illustrations that people at all intellectual levels will connect with. The writing and the matter-of-fact reading are proactive--he doesn't celebrate or condemn anyone's goofy money decisions. Know yourself, get your attitudes and behavior under control, and then use the author's formulas and action steps to wrestle your credit report, account by account, back into something respectable. T.W. © AudioFile 2005, Portland, Maine-- Copyright © AudioFile, Portland, Maine --This text refers to the Audio CD edition.


Customer Reviews

Top Customer Reviews

Format: Paperback
Ken McElroy's "The ABCs of Real Estate Investing", is like many of the books in the "Rich Dad, Poor Dad" series, not so much of a "how to" book, but a motivational book. Chapter 7 does include the fundamentals of property analysis, but McElroy states that "your team members - will either know the capitalization rate for your market or help you calculate it, and that's all that there is to it" (p.115), whereas more complex books tend to go into other analysis formulas like the GRM, the DSCR and how to calculate the capitalization rate yourself. (Moreover, because the cost of funds will affect the NOI it can be difficult to estimate the price of a property based solely on the NOI/Cap. Rate formula)

In the "Myths and Magic" chapter, McElroy suggests that million dollar, multi-unit properties "are within your reach" (p.5) and that "there is little you can do to increase the value of [a single] property." (p.6) McElroy does several things wrong here: first, he does not take into account those who wish to owner-occupy their investment properties. It also contradicts "Cashflow Quadrant" in which Kiyosaki suggests starting with a smaller multi-tenant unit can be a good way of learning the "ropes" of business. McElroy also uses his own example of how investors line up to make deals with him and his partners and how he owns 10 percent of a multi-million dollar project in which he put none of his own funds. This brings me to my second point, which is the other weakness of the "Myths and Magic" section, McElroy fails to elaborate on HOW to put investing teams together in order to acquire financing on these types of deals.
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Format: Paperback
Eventhough the book might seem to simple or basic for the seasoned real estate investor, it is a good beginners guide for those who really want to improve their knowledge and skills when deciding to seriously invest in this market, specially these turbulent times.
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By A Customer on Nov. 15 2015
Format: Kindle Edition Verified Purchase
Like the book because it is realistic about investing - not a scheme of getting rich or a pyramid scheme - someone else is getting rich.
Commercial realestate investing is a business - not a gamble!
Author describes key building block so buying, owning and operating a profitable business.
At the end it's hard and consistent work that pays the dividend.
Recommend the book.
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Format: Paperback
I won this book at a Rich Man seminar I attended. It was one of those 2 hour seminars that is to encourage people to sign up for the paid course on real estate investing. I shouldn't look a gift book in the mouth. The book was well written and well laid out, offers lots of good information. However it is more geared to purchasing multi unit dwellings and talks extensively on researching how and when to buy apartment and everything that must be thought through before the purchase. For someone like me who is looking for single family home investments, it was only semi-useful. I was disappointed because I thought more of the things that were touched on during the seminar would be part of this book, but they weren't. The first chapter is very motivational and the balance of the chapters are the how to on purchasing apartment buildings. Not what I was looking for, but the information will be useful to persons with different investing agendas. Knowing what I know now, I'm glad I won the book instead of shelling out money for it.
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