Real Estate Investing For Dummies Paperback – Mar 3 2009
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From the Back Cover
Now updated — your guide to building long-term wealth through real estate
Want to be a successful real estate investor? Eric Tyson and Robert Griswold present their proven strategies, along with updated tips for easily riding out downturns in the real estate market. From homes and apartment buildings to duplexes, commercial properties, and real estate investment trusts (REITs), you'll master every aspect of investing in and financing properties, and see how to increase their value.
Build a foundation for investing success — get your finances in order, weigh your investment options, understand the risks, and work with real estate pros
You have to pay to play — raise capital, finance your purchases, and secure the best mortgage terms
Find and evaluate properties — choose the best locations, understand leases, project a property's cash flow, and decide how much to pay
Master the negotiation process — assemble attractive offers, complete the purchase agreement, conduct formal due diligence, and close the sale
Manage your property — be a top-notch landlord (or hire help), get the insurance you need, know the tax angles, and decide when and how to sell
"Both beginner and experienced real estate investors will profit from studying all the aspects to consider when maximizing property profits."
—Bob Bruss, Inman News, on Real Estate Investing For Dummies
"This is simply the best book on the topic."
—Randall Bell, author, Home Owner's Manual
Open the book and find:
Tips for buying and improving properties
Proven methods for boosting a property's return and value
The opportunities of the market downturn
Expanded coverage on foreclosures, short sales, and REOs
The latest on buying fixer-uppers and flipping
New details on buying hotel condos and timeshares
Changes in the tax laws
Finding properties online
About the Author
Eric Tyson is a nationally recognized personal finance counselor, bestselling author, and syndicated columnist. He is the author of numerous bestselling For Dummies books on real estate, small business, personal finance, and investing.
Robert S. Griswold is a successful real estate investor and hands-on property manager with a large portfolio of residential and commercial rental properties.
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Most Helpful Customer Reviews on Amazon.com (beta)
One of the authors main quality is that they do not overplay much the merits of real estate investing. For the most part it is hard work. Landlording is not for everyone. And, the way they test your own temperament and lifestyle preferences to figure out if you are cut for that job is realistic. Many of the readers may find out they are not cut out to manage their own property. If that is the case, don't despair. You can always hire a property manager. But, that is going to cost you a good 10% of your rental revenues or you can even just invest in REITs. However, with the latter you will not achieve the same leverage, return profile, and tax advantages as with firsthand real estate direct investments. It is a world of trade offs out there with no explicit free lunch. If you want the easy path to real estate investing (hiring property manager, investing in REIT), your return profile may be much different. And, the authors impart very good information on all those options.
Their section on tax is also excellent. They always state the caveat that tax considerations are complicated, and that tax laws constantly change, so that you should not explore tax considerations without a professional advisor. Yet, as off my writing this review and after just having studied IRS Publication 527 on Residential Rental Property, the information disclosed in the book seemed pretty accurate and current as of now. This obviously does not preclude that the info will be obsolete tomorrow as the two cautious authors warn.
Overall, I do strongly recommend this book. It is a very small investment with a huge return in terms of your gaining much knowledge regarding this complex investment field.
I love this book and I would gladly buy it again if given the choice.
These books are NOT designed to motivate the skeptical and that is WONDERFUL! Warnings and hard truths are clearly outlined.
If you are like me and figured make a few extra bucks doing handywork/collecting rent might be a decent "hobby," take a gander.
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