Book Description

A step-by-step program for making big plans that create big money in real estate

With a little help from Gary Keller, anyone can achieve financial independence. In The Millionaire Real Estate Investor, Keller shows you how, with the right plan and persistent effort over time, you can amass fabulous wealth in one of the strongest and safest investment vehicles around--real estate. The plan begins by establishing a state of mind that becomes a different way of looking at the world and evolves into an exciting way of life.

Through inspiration and solid instruction, Keller helps you develop a thorough knowledge of the best models for investing, along with a fundamental understanding of money, how it can be made and how it can be lost. Then, he shows you how to design an investment business that lets you get out of the day-to-day work and enjoy the freedom and benefits of what you have created.

Thoroughly researched with interviews and insights from more than 100 millionaire real estate investors who have struck it rich through Keller's concepts and practices, this book shows you how to:

• Think Like a Million: Develop the mind-set and financial strategies of a millionaire investor
• Buy a Million: Amass a real estate portfolio with a market value of a million dollars or more
• Own a Million: Turn investments into an asset-based business with ever-increasing net worth
• Receive a Million: Build an investment empire that provides a million dollars a year in passive income

Book Description

The complete toolkit for pre-foreclosure investing

Finding, researching, inspecting, negotiating, buying, and reselling pre-foreclosure properties is a lot of hard work. But it can be very lucrative for investors who know what they’re doing, are well organized, and have the persistence it takes to succeed. The Pre-Foreclosure Property Investor’s Kit is a comprehensive resource full of ready-to-use worksheets, letters, checklists, notices, forms, and agreements. With step-by-step instructions and practical, no-nonsense advice, readers will learn how to find great pre-foreclosure deals, perform due diligence on target properties, accurately estimate the market value of properties, negotiate effectively, and maximize profits.

Thomas J. Lucier (Tampa, FL) has been a real estate investor since 1980. He is a widely published real estate expert whose advice has appeared in such publications as the Wall Street Journal and Commercial Real Estate Investment magazine. ... Read more

Amazon.com

Sequels often disappoint when compared to their predecessors, but author Robert Shiller has proved the exception to the rule with his second edition of Irrational Exuberance. When the original book released in 2000, Shiller's prescient analysis of bubble-like market behavior provided perspective on the painful meltdown of stock-price valuations that subsequently occurred. Five years later, the Yale professor's bearish predictions about real-estate valuations are enough to give any savvy investor or homebuyer pause.

Shiller is one of several well-known economists and pundits who've begun a running dialogue in the last few years around the drawbacks of unchecked free markets. Few writers, though, dissect the phenomenon of bubble behavior as clearly and thoroughly as Shiller does. As with the first edition of his book, Shiller begins this one with reams of quantitative data around the late 1990s stock-market runup. This new edition adds data on real-estate price trends in the early 2000s, and points out the striking parallels between the earlier stock-market boom and bust, and current trends with housing prices in the United States. Shiller actually believes the two phenomena are related; as investors lost confidence in the stock market and moved their money into real estate, one asset class fell while the other rose. According to Shiller's analysis, the pattern is destined to repeat itself.

Aside from the initial data, the real strength of Irrational Exuberance is the straightforward, almost clinical way in which it explains why things happen as they do. The book walks readers through structural reasons for market bubbles, then ventures into "softer" analyses which professional economists less confident than Shiller would be scared to touch. It examines cultural factors behind market bubbles, such as hype-mongering news media, and psychological factors, such as herd behavior.

Another improvement in this latest edition of Shiller's book is his inclusion of more personal commentary, and he mentions the influence that his wife, herself a clinical psychologist, has had on his intellectual development and his view of psychological impacts on economic behavior. Other personal insights from Shiller center on experiences he had while touring and lecturing around the first book, and some of the most interesting passages are those in which he describes common questions or feedback from his audience, and what he thought in reaction--but didn't voice while on his tour.

In the end, Shiller closes his book with an intriguing set of policy proposals. He argues for a revamping of the U.S. social security system, a new system of house-price insurance for homeowners, and risk reduction through portfolio diversification. Fans of the brainy academic will note with approval that Shiller practices what he preaches: he has begun trying to implement some of his ideas in the real world through two private consulting firms he has founded, Macro Securities Research and Macro Financial. The hope is if Shiller's as correct with this second book as he was with his first, readers will all learn something from these new companies. --Peter Han ... Read more

Reviews (62)

Antidote to Stocks for the Long Run
Shiller explains why the incredible 225% increase in the Dow Jones Industrial Average from the beginning of 1994 through the end of 1999 was unsustainable: "as a rule and on average, years with low price-earnings ratios have been followed by high returns, and years with high price-earnings ratios have been followed by low or negative returns." Writing in 2000 when the price-earnings ratio on the S&P500 was nearly 45, compared to a long-run average of about 20, Shiller was preparing us for a bursting of the stock-price bubble. His message was sobering and prescient then as well as good education now. Caution: the reader will have to whack through thickets of details in Chapter 1 such as "The average real return in the stock market (including dividends) was -2.6% a year for the five years following January 1966, -1.8% a year for the next ten years, -0.5% a year for the next fifteen years, and 1.9% a year for the next twenty years."
In Part 3: Psychological Factors, Shiller outlines principles of behavioral finance. For example, past prices and stories help form people's views of the stock market. He reviews classic experiments in psychology, which documented the significance of peer pressure and trust in experts. Shiller's interpretation is that people take uncritically what experts on the stock market offer, presumably that stock prices will continue to rise, which encourages them to be overconfident.
The author puts forth a good explanation of efficient markets theory but applies much criticism. He proclaims: "I see no reason to doubt the thesis that smarter people will, in the long run, tend to do better at investing." Reading and understanding Irrational Exuberance will help put the individual investor in the company of those "smarter people."

I'm puzzled by the y-axis choices in Figure 1.1 (page 6).
I work in statistical data analysis, and I opened this book with high expectations.But then on page 6 I encountered Figure 1.1, titled "Stock Prices and Earnings, 1871-2000", which has a visual design that troubles me.Both lines on the graph are plotted with the same x axis (the years from 1860 to 2020), and I have no problem with that.The Stock Price line is plotted against a y axis that is labeled along the left-hand edge of the graph, and the range chosen for this axis (0 to 1600) seems quite appropriate for the data plotted, which range from about 70 to about 1450.The Stock Earnings line is plotted against its own y axis that is labeled along the right-hand edge of the graph, and I have no problem with the existence of the second y axis.But what troubles me is that the range of this second y axis has been chosen so that the entire range of the data plotted in the earnings line (about 5 to about 40) has been squished into the very bottom of the graph, using a vertical distance that corresponds roughly to the range from 2 to 190 on the y axis for Stock Price.This apparently arbitrary visual juxtaposition of two unrelated y-axis scales leaves me unable to trust any visual trend comparisons I might be tempted to make between the two lines.Can someone explain to me why one of these three alternatives that make more sense to me wasn't chosen?(1) Plot both the Stock Price and the Stock Earnings on the same y-axis scale (from 0 to 1600), or (2) plot the Stock Price on its own y axis as shown but plot the Earnings Price on a y axis that runs from 0 at the bottom of the graph's right-hand edge to about 45 on the graph's right-hand edge, or (3) normalize both graphs to percentages of their values for some year (1871, perhaps).Thanks.Any comments from Edward Tufte ("The Visual Display of Quantitative Information") would be most welcome indeed.

decent, but somewhat disappointing
For those haven't read other behavioral econ articles / books, this is probably worthwhile.However, though the first two articles are well written and informative, the remainder of the book is mostly ponderous unsupported assertions and innuendo.It's nothing new to those who've read a bit about this stuff before.

Regarding the "updated for the real estate bubble" claims:The real estate information is not very well integrated - it looks like it was opportunistically inserted.Ironically, it looks like Shiller and his publishers are trying to "time the market" - rushing a book to market hoping to "catch the top" of another asset class cycle and thus get two data points showing him to be a guru of bubbles.(In addition, his mention of Prop 13 in California is superficial and not informative.)

It also appears at many places that writing has not been updated at all since the first edition.It can make for some confusing reading at times.

Maybe he doesn't want to give away lots of data he's accumulated, but it would be helpful to evaluate his assertions.Without it most of the book does not rise above well informed discussion over a few beers.

indepth analysis on market behavior
In a welcome second edition of the book, Shiller sets up his main theses using the real estate "bubble" (or if you prefer, "boom") example.The first part of the book focuses on a historical analysis of the "bubble" scenarios and uses the recent real estate phenomenon to explain the context of his arguments. He systematically argues against all the reasons cited for the real estate boom (population, construction costs, etc.) In the second part, he focuses on causes for these speculative behaviors of investors and their changing perceptions on risk. His classification of factors into precipitating and amplifying groups is an interesting approach.He then proceeds to explain cultural, political and psychological factors to reason why he thinks investors behave in a "speculative" mode. His attack on the cable TV news media and their "noisy" coverage of business news is an amusing and thought-provoking read.

Any serious investor for the long term (and short term) will find the insights on market behavior very useful in analysing his/her own behavior. The efficient market theory, "greater fool" theory, etc. will also need a more critical look after reading Shiller's comments.

This thought provoking book is an excellent read along with Jeremy Siegel's (one of the authors friends/advisors) book which takes a much more positive perspective on market trends and more importantly, market behavior.

While the strength of the arguments will keep the reader interested, the book is no easy week-end read. It needs to be read in a slow pace to absorb the gravity of the arguments. But that shouldnt deter a serious investor. A must have.

Market psychology with a political ending
This is a chronicle of inverstor perceptions and expectations of themarket both in the late '90s and in other periods, particularly the roaring '20s.Pretty boring stuff.More psychology than finance.

The reason I gave this book one star is that in the final part of the book Shiller makes an political statement that is unrelated to the book's thesis.He campaigns against investing even part of Social Security funds in the stock market.He urges us to reaffirm our group responsibility to the elderly instead.It sounds like something the AARP would have said.

In other parts of the book he talks about what demographic or generational trends may mean for the market or the public perception of the market.When he turns to social security he doesn't mention demographics, however.Of course, demographic trends portend bankruptcy for Social Security as it is currently structured.It's intellectually dishonest to talk about demographics and generational differences in other contexts but omit those factors when it comes to social security.

If he had left out this political lobbying he would have a boring but well researched book.He pulled a bait and switch at the end that detracts from the rest of the book. ... Read more

Book Description

Real estate financial calculations made easy

Every real estate investor needs to know how to calculate cash flow, long-term gain, net operating income, and a few other basic financial formulas. What Every Real Estate Investor Needs to Know About Cash Flow . . . is a guide to the 34 most essential calculations that answer such crucial questions as "What is this building really worth today?" "What kind of cash flow can I expect?" "Is this property a good investment?" and "How do I calculate my return?" For beginning investors, real estate veterans, commercial brokers, and sellers as well as buyers, this handy reference is a must-have for anyone who wants to make sound decisions based on accurate calculations of:

• Discounted cash flow
• Cash-on-cash return
• Net operating income
• Capitalization rate
• Gross rent multiplier
• Net present value
• Payback period
• Mortgage amortization
• And many more

Reviews (7)

The Investors Bible
Everyone wants to retire on real estate but no one shows you how to, today. Frank G does; he shows you what to look for when evaluating a prospective property and what financial analysis to do to see if it will even produce enough income to carry itself. Franks book is a great start and will give you all the basics to develop a cash flow from real property for your entire life. You need to buy this book to be successful investing in real estate.

Finally a helpful real estate finance book!
This book gives the facts about real estate finance in an easy to read format. Unlike most real estate books, this one does not claim to make you $1,000,000 in 2 weeks with your eyes closed. It gives the common investor the tools and perspective to make wise real estate investment decisions. Good for beginners or seasoned vets who want to brush up on their skills.

Required Reading for Real Estate Investors
Before you invest $1 into income-producing real estate, be sure to pick up a copy of Frank Gallinelli's excellent book, What Every Real Estate Investor Needs to Know About Cash Flow...And 36 Other Key Financial Measures: Guidelines, Formulas, and Rules of Thumb for Making Money in Real Estate. While the title may sound somewhat forbidding, the book is so well-written and accessible that even novice investors who wouldn't know a cap rate from a rate of return can quickly and easily master key concepts such as present value, gross scheduled income and discounted cash flow. Better yet, Gallinelli offers free spreadsheets that you can download from his site that do the numbers-crunching for you. I like to think that I'm a pretty savvy investor, but, thanks to Frank and his amazing formulas, I narrowly avoided overpaying for a five-story office building in the Chelsea section of Manhattan. While there's no guarantee that the seller will accept my lower offer, I feel confident that, if I do get the deal, I will be paying a fair price now that Frank has taught me how to do the math.

Outstanding detail with a straightforward explanation.
This book is the best read for understanding financial analysis. It is not often, if ever achieved, that a subject as complex as financial analysis can be explained so perfectly suited for real estate professionals. The work doesn't lose itself in silly analysis or "paralysis of analysis", Gallinelli's approach is straightforward, sometimes hard hitting as a practical sense guide to investing in real estate. This doesn't mean the work is simplistic by any measure, you can spend plenty of time taking this work into great depth. Gallinelli offers a web page support system with free worksheet downloads, financial software and valuable resource links. Every deal I consider is now held to a new financial standard. This is a must own book for investors, brokers and corporate real estate professionals.

Excellent Investment Companion
This book focuses on analyzing Real Estate Investment from a financial calculation perspective. It is very well written, very easy to understand, and extremely useful. In a very short time, you will quickly learn the 37 calculations that a sophisticated Real Estate Investor uses to evaluate whether a deal makes financial sense. By knowing the numbers better, you'll have an edge in negotiating your next real estate deal. Highly Recommend! ... Read more

Book Description

Published since 1992, and updated annually, this 148 page textbook was written as an answer to the "sink-or-swim" training methods of many mortgage firms. The format is designed to give the newly initiated loan officer/agent, lender, processor, or other initiate the practical information they need to do the loan officer's job.

The reader learns how to understand rate and point quotes, how to use a financial calculator, how to make basic computations customers require, how to understand loan programs and compare product features. The student progresses through understanding loan specifications - Conventional Conforming/Jumbo/FHA/VA and Sub-Prime program guidelines - to a practical understanding of ratios, income, assets and closing costs, debts and credit history. This is then placed in the context of the loan application - how to collect all the required documents and disclosures and supervise a loan from application to closing. Beyond the basics, students learn how to finance various property types; condos, PUDs, new construction and investment property. A detailed chapter on refinancing addresses the issues which most often confront the loan officer in a period of heavy refinancing - 10 reasons to refinance. Finally, understanding how loans are made in the secondary market and the basics of interest rate quoting and behavior are covered.

This product is being submitted for approval for use in continuing education in all states which have, or are adopting, a requirement. Many companies use this product as a handout to prospective new loan officers. Many loan officers give this product to their referral sources to help educate them to the requirements of the industry. ... Read more

Reviews (4)

I use it as a textbook for my college class
I am writing this review in response to the concerns of one reviewer who didn't like the $55 price. This is the first review I have ever written on amazon.com, or anywhere else for that matter. I had a choice of many other books to use as a textbook for the class I teach at Montgomery College on mortgage loan origination, and I chose this one. At first, I, a stingy Yankee, was taken aback by the $55 price, and concerned for my students who have to deal with high textbook prices, but when I examined the book I was amazed at how much there was in it, information not available in such form anywhere else. There were a few other manuals and texts that I could have chosen for the class, including some that were hundreds of pages long, but they were full of fluff and consisted simply of compiled information. They were four pounds of hamburger; this book is 12 ounces of filet mignon. It is is focused, focused, focused on providing information mortgage loan originators actually need. It has helped my students start lucrative careers and has helped me teach a very popular course; I even use it when I teach private classes for some of the biggest mortgage lenders in the nation. I have been a mortgage loan originator since 1988 and I have never seen such a valuable book. I was amazed - even embarrassed - at how much I learned about the business, even after 15+ years originating loans. With information, its not the price, it's the value, and this book is incredibly valuable. There are four pages in the book that I require my students to copy and keep with them; these pages alone are worth hundreds of dollars, and contain on four pages information that is spread across hundreds of pages of industry publications. I encourage anyone considering the business, and even anyone in the business already, to buy this book. Feel free to call me at home at 301-563-6225 and I will be happy to discuss the book - that is how strongly I feel about it's value. Not one of my hundreds of students has ever been anything less than enthusiastic about the book. I even discuss the price of the book at the beginning of the first class, and tell the students that I thought, at first, that it was too high. Then, I encourage them to evaluate it over the course of the class, and tell me if they think it is overpriced. Not one of them has EVER told me so, nor has anyone in the mortgage business ever told me so. If it were up to me, this book would be required reading for every mortgage loan originator in the country. If mortgage loan originators read this book and absorbed the information in it, this would be a much easier business to be in for everyone involved. It has been approved by a number of states for the instruction of mortgage loan originators, as well as numerous community colleges. Sorry to ramble on like this and sound like a shill for the book, but as an originator and an instructor I wanted to address the cost issue. Some people know the price of everything and the value of nothing. Ignore the price here, and look at the value. Do that, and I believe you, too, will see what I am talking about.

THE most comprehensive Loan officer training book in print!
Thomas Morgan's The Loan Officer's Practical Guide to Residential Finance is THE most comprehensive loan officer training book in print today. Chock full of every single aspect of the mortgage origination process, I truly recommend this book to every amateur as well as novice loan officer I know!

Great information
I have been a senior executive in the mortgage business for over 25 years and I would recommend this book to anyone considering the business. I found this book to contain in a concise and organized manner all the information a new or seasoned Loan Officer would need to be successful in the mortgage origination business. I advise any manager to consider providing a copy to each of their originators.

It is a goob book, but too expensive for what it is
This book is a very good tool for new loan officers. It is a good book, but you can find the same information in other books that are more reasonabaly priced. I would have given it a higher rating, if it was priced below [money]. It was just disappointing to receive such a thin book in the mail for [money]. ... Read more

Book Description

"This is the best of the how-to-invest-in-real-estate books currently available."
–Robert Bruss, syndicated columnist and real estate author

THE BESTSELLING GUIDE TO REAL ESTATE INVESTING

Now in its fourth edition, Investing in Real Estate is the straightforward guide that helps you start growing your fortune by investing in houses and small apartment buildings. Successful real estate investors Andrew McLean and Gary Eldred show you how you can outperform the stock market by investing in residential real estate–the surest and safest way to build assets.

This new edition offers an expanded discussion of the best methods and techniques for fixing and flipping properties and creating value. You’ ll also find all the information you need to start investing now, as well as up-to-date tips on maintaining cash flow, negotiating deals, spotting market trends, and using the Internet as a research tool to find and buy properties. Let McLean and Eldred show you how to:

• Buy with little or no money down
• Minimize taxes while building your wealth
• Choose neighborhoods and properties that will beat the market with faster rates of appreciation
• Grow value in your properties by investing in improvements
• Pick the best way to finance your purchases

Whether you need money for your child’s college tuition, a more comfortable retirement, or just a higher standard of living, Investing in Real Estate, Fourth Edition is the only guide you need to start building wealth now. ... Read more

Reviews (76)

Helpful For Everyone
You're not just buying a book to read here. The amount of information in "Investing In Real Estate" makes it an investment. These are the facts. The way things are. There has been spiked interest in RE recently because of the recent low interest rates which has caused an upsurge home-buying in many parts of the country. With all of the real estate courses, seminars, tapes and books being marketed, how rare is it today to hear the facts and not just the hyperbole? This is the most comprehensive and detailed, to-the-point real estate book available.

If you're a normal home owner and want to increase your home's value with some shrewd fixing-up before you sell it, you can get tons of pointers here. Want to find the best bargain with your first purchase or your new home? Manage your property(ies)?
What criteria do you use to find the best property? How do you check to make sure? Creative financing is also covered.

This is not just for those investing in apartments or a duplex but everyone. Want to rent-out your house? You will learn the basic laws and procedures, and how to write up the most appropriate lease and how to cross your "T's" and dot your "I's." Almost all of us know people who've rented their homes out and had "bad tenants." You'll learn how to screen properly here to avoid them, and how you can use the (local) law.

There are many simple and proven math models on how to calculate the return you'll get from buying a detached house, condo, duplex, tri, fourplex, or multi-unit apartment complex. The Gross Rent Muliplyer (GRM), Income Capitalization "Caps," Net Operating Income (NOI), Return on Investment (ROI), and Before Tax Cash Flow (BTCF) etc. Add these simple equations and formulas to the fact that you likely live in the community (familiar with) you'll be buying/investing in, and you'll have the best chance to earn some positive Cash Flow, and choose the best option available. Ways to evaluate neighborhoods and areas that are up-and-coming, paying less taxes, and using depreciation and deductions properly are also covered. Very important for homebuyers and owners yes, but this is the most comprehensive book written for people who are looking to purchase property to plan ahead.

Good solid book
Among all of the books on real estate investing, this one gives you the best solid introduction. Once you decide the exact strategy you wish to pursue, you will want more specialized detail (like on renovations). I also liked the authors' approach in that they tell you how to really analyze your local market to develop ideas that will likely yield the best profits. I detest books that lay out step by step the author's suppossed "secrets to success"--when in fact that strategy might not work in a different place or time. ( One book I read told me to only buy 3-BR, 2-BTH, brick houses. We don't even have brick houses here!)

Outstanding coverage
Six rental houses, one quad, and one mobile home. I'm still accumulating and I'm still absorbing as much knowledge as I can. In that respect, I heartily recommend this book. Good details, excellent examples on creating value, sound explanation of calculating returns without burying me in a algebraic fog. The chapter on leases opened my mind to many points I hadn't even thought of. Overall thorough and practical approach.

Not Bad, a little too basic and too much cheerleading.
This book was one of the first "bestseller" types of books I have read on real estate investing, and I was fairly disappointed. This book would make a good first book for an aspiring real estate investor to hear about some of the more unconventional means of getting into real estate investing, but over all the book was short on details and potential pitfalls and very big on a "You can do it!" tone that made me wonder if the author was trying to sell me an ego boost as opposed to a fair, balanced, and sober look at investing in real estate. If you already understand the fundamentals of real estate investing and are familiar with foreclosures and other more aggressive sources of finding potential properties, you should pass on this book. If you know nothing, and are just looking for an idea of what this field is all about, I would cautiously recommend this book with the caveat that its not easy, there are some restless nights sometimes, and anything that sounds too good to be true, is.

Deals with important issues and provides insight
I have been investing in real estate for 10 years and read as much as I can on markets and strategies. This book is refreshing. I gained new insights and am eager to get out there and find some new properties. ... Read more

Book Description

Written with humor and insight, 21 Things I Wish My Broker Had Told Me provides hands on advice that will help agents start, or maintain, a sucessful career in real estate.This has real life stories from dozens of sucessful, top producing, real estate professionals will help new agents know what to expect and how to succeed.(186 pages, 2003 copyright) ... Read more

Reviews (11)

Outstanding, and brutally honest
I am a liccensed CA Real Estate Broker. I ordered the book after I had read a positive review about the book from newspaper real estate columnist/investor/attorney, Robert Bruss. Bruss has never steered me wrong, and I highly respect his opinions.
This book is the MOST straightforward, no BS, book I have read yet about any aspect of the business. I tip my hat to the author, who himself is a real estate columnist, for digging up the information... The truths are universal in this business (which is scary/weird), but I feel that anyone who is starting out in this business MUST read this book so you know what to expect, as I cannot think of any other business that chews up and spits out people so quickly. I imagine some will buy it looking for a way to riches, which this book is NOT about. It is about understanding how the business really works and what to expect, thereby giving one an edge against any disappointment and discouragement a "green" agent will surely feel in the first 18 months of this business. The dropout rate is high, and I think the author offers much encouragement. There has been so much stuff written about selling real estate, and all the "pump up" stuff to keep one motivated, but this book is not about that at all. This book would make an excellent gift to anyone who just passed their Real Estate test and is willing to take the plunge into a business where, quite frankly, every day that you wake up, you are seeking work! After reading it, you won't feel so distraught at the bumpy road which lies ahead.
I'm sure even seasoned vets of the business would appreciate it, and may find themselves chuckling to themselves as they are reminded of the many hard lessons that were learned -and there will be many- as the book points out, or perhaps I should say, the book says "Look Out!"
I read it in one evening, as it entertains the reader as well. Well done, Mr. Cook, and thank you for approaching a subject that I think few have touched upon. Your organization of the subject matter seems well thought out.
The one underlying theme which he displays in various interviews with Realtors is one must certainly rely on hard work, rather than luck (we all know the stories about stepping out for a $4.95 sandwich, only to lose a $20,000 commission to the one agent who answered the phone), to make it. Plus, thank you for mentioning that this is a misunderstood profession, in the eyes of the public, and calling upon all agents to act professionally, and putting the client's needs before our own.
Buy it, read it, and good luck to all the new agents out there. Office managers: make this required reading for new agents and you'll save yourself a lot of hand holdiing...

Would recommend this book to a starting out agent
This is a great book. It gives you a bunch of information you would otherwise not find out until after your first year in the business. It gives you a bunch of associations to be aware of that you can join, things you can do to promote your business. I finished it in one sitting, and am planning to read it again. I would definitely recommend this book for anyone in their first year of real estate. Will save you a lot of time on doing things that don't matter. Focus on results.

The only one
This is the first book you should read if considering entering into real estate. Some of the personal stories are scarey yet true, but are important to face before entering a new career.
A lot of other books are "rah, rah, you can do it" hype. This is one book that speaks about the sucesses and failures from a personal perspective. I have now read it twice once for pleasure and once to take notes! This book really does speak of the things your broker will never tell you.

good book
must have book for new agents. I would recommend this book and also "The idiot's guide to Success as a real estate agent" by Marilyn Sullivan which is another super book for new agents.

You have heard it all before!!
This book is attractive due to the title, however, it was a great disappointment. Everything in the book are things that a typical broker would tell you. All of the examples and advice are very general, except for one or two good points. What I found particularly interesting is the author's take on "fair housing" issues. The author, who is obviously not a minority, gives the advice that "one should walk away" if someone made a comment regarding letting a "minority" move into a property you are selling. That is true..However, what if you as the Real Estate Agent (and not the client) happens to be Black (or Hispanic or Jewish)?<-THIS IS HOW IT IS IN THE BOOK
There are more ways to view an issue. Maybe he should have consulted an agent that happens to belong to the Black (or Hispanic or Jewish) population for assistance with this topic. ... Read more

Book Description

Thoroughly updated, the second edition of Professional Real Estate Development explains the nuts and bolts of the real estate development industry. You will learn how to develop and manage five types of real estate products: land, residential, office, industrial, and retail uses. Focusing on small-scale projects, the authors show you practical methods for developing each major type of real estate, including feasibility analysis, design and construction, financing, marketing, and management. Photos, site plans, diagrams, and case studies provide examples of actual projects and how the process works. Information is specific and detailed, with costs, rents, and financing information included by product type ... Read more

Reviews (3)

ULI Guide
For its high price, you may want to seriously think about your needs. If your intention is to buy a book for a broad overview of the development process with a somewhat academic approach, then this may be right for you. If you are builder or someone with prior real estate brokerage/service experience, you may find this too ivory tower and not practical. This book was a bit theoretical for my taste.

Although this book has been reprinted recently, all the data dates back to the late-1990's. Social and economic data are perhaps presented for illustrative purposes only, however, it is a bit disheartening.

There are some interesting project data, financial models and checklists, but frankly, the reader could figure those out on his/her own with some common sense and marginal experience in the industry.

Bottom line -- my suggestion is to review the book at the public library before you buy.

principles & history
Interestingly, I ended up reading this book like a fiction -- from cover-to-cover. And, it was a fun read. I particularly enjoyed some of the insightful stories of real estate development history, which is clearly a part of our American heritage.

However, I thought the real-life applications of the book's suggestions were victimized by this type of presentation. Certain "case studies" were presented along side a theoretical "how-to" processes to develop properties; these seemed entertaining and thoughtfully presented, rather than real life cookie cutter. And, in many cases, I knew a famous property and became more informed of its origins and characteristics. But it did not unfortunately go the next step to discuss mistakes made, lessons learned, or successful components to highlighted -- which good case studies should endeavor. Moreover, it did not spend much time on architectural issues or financing arrangements that may have solved problems specific to the properties.

I would suggest to any potential Amazon customer to purchase this book only in conjunction with another more hardcore building book and/or architecture book.

An Excellent Overview Of The Development Process
I am a 66 year old developer with several successful projects under my belt. This is a fine book for beginning, intermediate, and yes, advanced developers. The best I've ever read, and I've got bookshelves full of them. Also, for a modest fee, you can download from the publisher the software used for the financial illustrations in the book. I had to learn this material the hard way, because when I started out, there weren't any good books on development. If you want to be a developer, start here. If you're an experienced developer, you'll learn a lot from this book. I congratulate the authors for putting in such an immense amount of work. ... Read more

Book Description

Take your real estate career to the highest level!

"Whether you are just getting started or a veteran in the business, The Millionaire Real Estate Agent is the step-by-step handbook for seeking excellence in your profession and in your life."
--Mark Victor Hansen, cocreator, #1 New York Times bestselling series Chicken Soup for the Soul

"This book presents a new paradigm for real estate and should be required reading for real estate professionals everywhere."
--Robert T. Kiyosaki, New York Times bestselling author of Rich Dad, Poor Dad

The Millionaire Real Estate Agent explains:

• Three concepts that drive production
• Economic, organizational, and lead generation models that are the foundations of any high-achiever's business
• How to "Earn a Million," "Net a Million," and "Receive a Million" in annual income

Reviews (34)

Never has there been such a manual for success!
This is a system, simple, and direct! Gary Keller has gone to the core of real estate and what it takes to succeed. This book can be used as a step-by-step guide to making any amount of money you wish! His use of real life millionaire agents is inspiring, invigorating, and fascinating. This is a must read for real estate agents and non-agents alike. A job well done goes out to the brilliant authors of this work!

IF IT IS TO BE WHY NOT ME? Or even YOU
This book has changed my way of thinking. Gary Keller and Dave Jenks do a remarkable job of mapping out the path to netting over a million dollars. I am currently reading this book for the second time and I plan on reading it ten more times. Our team has made some serious changes after reading this book and we are seeing the benefits and how easy it can be accomplished. Remember we are all in the Lead Generating Business. I wish you all the success after you follow the MILLIONAIRE REAL ESTATE AGENT Book.

Made My First Year In Real Estate a Huge Success!
I found this book on Amazon when I was just starting out in Real Estate. I read many of the how-to books because I wanted and needed to hit the ground running in my new career. This book, by far, was the most information-packed and practical guide to starting a real estate business. (By the way, another excellent book is "How to Become a Power Agent in Real Estate" by Darryl Davis).

I am an attorney and before starting my real estate career, I had my own law practice; and before that, I had my own computer consulting company-both successful ventures. I approached real estate from a businessperson's perspective and this book difinitely speaks to the serious businessperson. There are so many books and articles telling new agents where to spend their time and money that by the time the agent figures out what works and what doesn't, they have spent their entire budget and an entire year, and have not made enough money to move on. That's why 70% of new agents drop out of the field by the end of their second year.

This book helps agents, new and seasoned, stay focused on the bottom line. Moreover, it answered the most important question for me--If I need to generate $80,000 in income per year (salary, not gross commissions), what activities do I need to do and how much will it cost me?

So many of the other books and articles claimed to have the winning formula by telling you that you must knock on 50 doors per week and make 50 cold calls per week to generate business. Their theory is that it must be painful if you are to be successful.

This book, however, gives you lists of ideas and says if you do "x" number of activities from this list, you can expect to receive "x" number of transactions per year. YOU get to pick which activities you perform (if you don't like knocking on doors, pick another activity--it does not have to be painful for you to be successful).

The other books tell you that you must know a lot of people--friends and family--and that you MUST call and hound them in order to get business. This book, alternatively, says that if you do not know a lot of people (if you are new to an area) or if you don't want to call your friends and family and beg for business, you don't have to. It gives you the formulas so that you can determine how much marketing you have to do with the "people I haven't met yet" group to generate the same results as you would have with your "friends and family" group.

Using this book as a business modeling guide, I closed just under $3 million in volume in my first year; and just over $7 million my second year. I already broke through the $6 million volume cap that many seasoned agents hit as a glass ceiling and cannot move beyond. My broker with my first real estate company (Long & Foster) was hostile to my business model because she didn't understand it and because I was taking control of my own career. She wanted me to follow her formula and she wanted me completely dependent on her for my success (even though she never provided me with leads).

Then Keller Williams came to Maryland! (Gary Keller, the author, founded Keller Williams to empower real estate agents to run their own successful businesses). I joined Keller Williams and now I am surrounded by agents and brokers who realize that the business is mine and that the broker's role is to support my success. They do not believe, like so many other companies, that the agent's role is to make the broker rich. This is obvious by the fact that they offer one of the highest commission splits in the industry, without charging a monthly "desk fee," and they share the profits with their agents! And their entire culture is based on the "Millionaire Real Estate Agent" business models.

If you are serious about approaching real estate as a business, you must read this book.

Millionaire Real Estate Agent
Great book! The ink is still wet on my license, 3 closings so far. Wanted to get focused on my business and Gary Keller gave me good insight and information that will make me a better agent. Good tips too!

The truth about how to succeed in Real Estate Sales
After 15 years of being a student of high volume real estate sales, this book brings it back to the basics in a way anyone can grab a hold of and succeed. This should be a required read for anyone thinking of entering the business, newer to the business or seasoned veterans wanted to discover how to go to the next level for themselves. The tools are spelled out in a way that makes sense, brings ethics into the conversation and proves that one can succeed utilizing these tools. ... Read more

Book Description

Learn how the real estate development process works with the new edition of this best-selling book. Widely used by developers, planners, architects, investors, and other players on the development team, this book provides the most practical and thorough introduction to real estate development available.

Using an eight-stage model of the development process, the authors explain idea conception, feasibility, planning, financing, market analysis, contract negotiation, construction, and asset management. Ongoing case studies of an office and multifamily development provide realistic examples.

This edition features fresh data, the latest demographics information, all new chapters on finance, a new chapter on affordable housing, all new material on market analysis, updated information on market research, contract negotiation, and marketing, a new multifamily case study, and an appendix on the impact of economic and demographic trends. ... Read more

Reviews (3)

Engaging but limited
Interestingly, I ended up reading this book like a fiction -- from cover-to-cover. And, it was a fun read. I particularly enjoyed some of the insightful stories of real estate development history, which is clearly a part of our American heritage.

However, I thought the real-life applications of the book's suggestions were victimized by this type of presentation. Certain "case studies" were presented along side a theoretical "how-to" processes to develop properties. These seemed entertaining and thoughtfully presented, rather than real life cookie cutter. In many cases, I recalled the property being described and became more informed of its origins and characters, but it did not unfortunately go the next step to discuss mistakes made, lessons learned, or successful components to highlighted -- which good case studies should endeavor. Moreover, it did not spend much time on architectural issues or financing arrangements that may have solved problems specific to the properties.

I would suggest to any potential Amazon customer to purchase this book only in conjunction with another more hardcore building book and/or architecture book

Thorough, up to date (2000) and well written
This book was recommended as a textbook for a 4th year course in real estate development and it reads like one. It is well organized and covers this broad subject with detailed, practical information in a systematic way.

Most of all I enjoyed the two real life case study storys (of the development of an office building and a high-rise apartment) that weave through the chapters. These were very candidly told by the developers themselves and give the real picture of the trials and tribulations of large project real estate development.

Numerous listings of information sources, web sites, and bibliographies at the end of each section makes this book a 'keeper' reference text.

Market, marketability and feasibility studies
This book so clearly articulates the pivotal role of the triad of market, marketability and feasibility studies in the field of real estate development. While the book does not attempt to be all encompassing, the text is dense with financial and other risk analysis distilled from the experience of the authors and contributors.

Although at times it felt like the shudder of taking an ice cold shower, I finished the book feeling refreshed and invigorated to tackle the challenges and opportunities of the risk-reward tradeoff in the development business. ... Read more

Book Description

An investment alternative that gives fixed returns of 10 to 25 percent.

Profit by Investing in Real Estate Tax Liens introduces an investment alternative that is safe, secured by real estate, administered by the government, involves no brokers, is enforced by state law, and gives fixed returns.

Selling tax liens or tax deeds (depending on the state) are the two ways that counties across the country bring delinquent property taxes up-to-date.This investment is one of the least publicized and safest ways of investing in real estate, designed to give the investor either a fixedreturn, as in the case of investing in tax liens, or a property for 10 to 50 cents on the dollar, as in the case of a tax deed sale.In most situations, the property is ultimately transferred free of any liens, such as mortgages.

Profit by Investing in Real Estate Tax Liens also debunks the common myth that tax delinquent properties are run-down and shows that liens exist on every type of property.Author Larry Loftis, an attorney and active investor, has purchased liens on properties owned by Julius "Dr. J" Erving, Hector "Macho" Camacho (world champion boxer), Chase Manhattan Bank, LaSalle National Bank, and even a building whose major tenant was the local sheriff's department!

In this authoritative guide, Loftis helps investors avoid the pitfalls while answering all the key questions they need to consider:
* What's the difference between investing in tax liens and tax deeds?
* How does an investor go about bidding at tax sales?And what is the process?
* What are the different requirements in each state?
* Where are the greatest risks in this kind of real estate investing?

For investors eager to get started, Loftis's action plan provides details on the next steps to take, while real-life examples in every chapter bring the concepts down to earth. ... Read more

Book Description

Learn the secrets to wealth from "The Weekend Millionaire"

In their runaway bestseller The Weekend Millionaire's Secrets to Investing in Real Estate, Mike Summey and Roger Dawson gave readers a blueprint for making a killing in real estate in their spare time. Now Summey and Dawson take readers inside the minds and hearts of super successful entrepreneurs, showing them how to think and act like winners and realize their dreams of financial freedom.

In the tradition of Napoleon Hill's hit Think and Grow Rich, The Weekend Millionaire Mindset combines compelling biographical details with powerful, practical lessons. Packed with fascinating anecdotes taken from Summey and Dawson's own lives and the lives of other millionaire entrepreneurs, this book will inspire, energize, and motivate while arming readers with practical advice and guidance on how to:

• Evaluate and redirect their lives with an eye to becoming rich
• Create a lifestyle of success
• Set realistic goals and stick to them
• Make the right decisions when faced with challenging learning experiences
• Spot golden opportunities
• Realize dreams through patience, practice, and persistence

With Mike Summey and Roger Dawson's invaluable advice, readers can overcome their obstacles and find a personal path to wealth for a lifetime.

Reviews (3)

Don't let the title turn you off! Life changer book
Okay, I must admit when I saw the BRIGHT yellow book cover and the word "millionaire" in the title title the first time, I rolled my eyes when a friend handed me the book and said read this. My first thought was oh god, not another book telling me how to be a millionaire overnight (or over the weekend) and it is by a real estate investor no less. When my eyes stopped rolling I began reading.That little negative voice in my head was quickly silenced as soon as I read chapter one and realized that this was more than theory. It was Mike's story. By the end of chapter two I was inspired enough by his story and the clarity of my own story to create a budget and believe that I too could go beyond this ordinary financial existence. Why do so few of us build wealth settling instead for an ordinary American financial existence? I am a believer now and I will be a millionaire by the time I am 60 (or sooner since I am starting at 40) as well. This book is NOT a real estate book. It IS a book that WILL change your mindset and your future...and it CAN change your mindset in a WEEKEND if you allow it to do so. Give this to every high school graduate. Give this book to every teenager before they finance their first car. As Mike says, if you aren't doing well in this country, you are doing something wrong.

Thanks Mr. Summey for sharing your story and for helping me understand what I was doing wrong.
signed, future millionaire in NYC

YOU'LL BE MOTIVATED TO TRANSLATE THOUGHTS INTO ACTIONS!
You can feel the sincerity of the authors, encouraging through words, to create desire, teach you how to set goals and reach those goals.

The real life stories and adventures in the book are fun to read as well as informative. I really enjoyed the "story telling" layout with the bullets of information at the end of each chapter. Almost parable like at times.

Most people will read it and say great book, excellent book, put it down and do nothing afterwards. But for those people not so "most people", this book can give the means to TRANSLATE THOUGHT INTO ACTION and accept personal responsibility for one's own success.

I really appreciated the message in this book. If you're yearning for change and are not sure where to start, then why not start with this one?

The Truth About Millionaires
Mike Summey is a very successful man who, like many others, started out with no advantages in life over his peers; but trained himself to overcome disadvantages by conditioning his thinking. It is your reaction to what happens to you that determines the long-term effect more than what actually happened.

Having studied the lives of many self-made millionaires over the years, I can say that Mike's experience resembles that of many great men. It is not outstanding natural ability that makes one a success or failure, but the strength of his determination and desire and the willingness never to give up.

Mike's celebrated fame is as a real estate investor, but the mindset he has developed, and teaches you to develop in yourself, will lead to success in any other worthwhile pursuit--it transcends mere real estate investing. It is the secret to successful living, period.

As a real estate investor myself, I certainly appreciate Mike's accomplishments in that arena, but there is more to life than financial wealth and this book shows you why Mike has achieved so much in every area.

Roger is also an accomplished man who started from humble beginnings and he adds confirmation to the lessons Mike teaches.

My only challenge is to the subtitle of the book. I beleive that once you have read this book and taken its lessons to heart, you no longer can be considered "ordinary".

I wish my friends Mike and Roger the best of success with this very fine book.

Al Lee ... Read more

Book Description

An easy-to-read, comprehensive guide to the best investment money can buy

Safe from the arbitrary ups and downs of the stock market, real estate has rapidly become one of America’s favorite investments. Offering stability, reliability, and excellent long-term returns, it’s no wonder that so many Americans are now looking at real estate as their primary investment vehicle.

Real Estate Investing For Dummies covers all the basics of real estate investing for beginners–as well as more complicated investment strategies for anyone serious about building long-term wealth. It features commonsense coverage of every sort of investment, including commercial real estate, rental properties, vacation homes, distressed properties, land, and real estate mutual funds and investment trusts (REITs). It helps readers maximize their real estate investments by explaining the keys to successful investment and describing both common and uncommon investment strategies, including fixing and flipping, foreclosures, no-money-down deals, auctions, tax sales, triple-net, and more.

Bestselling personal finance and real estate authors Eric Tyson and Robert Griswold combine their extensive experience to produce a handy guide that covers every aspect of both investing in and financing properties. For unbeatable advice suitable for first-timers and experienced investors alike, Real Estate For Dummies offers a holistic look at real estate investing that is both accessible and practical.

Eric Tyson is a nationally recognized personal finance counselor, as well as the author of Personal Finance For Dummies (0-7645-2590-5), Investing For Dummies (0-7645-2431-3), and Mutual Funds For Dummies (0-7645-5329-1). Robert Griswold, MBA (San Diego, CA), is the author of Property Management For Dummies (0-7645-5330-5). He has more than 25 years of practical real estate experience, having managed more than 600 properties. ... Read more

Book Description

This new edition of America's # 1 best-selling real estate book takes the pain out of choosing, negotiating for, and buying a home. Helping home buyers save time and money, personal finance guru Eric Tyson and real estate maven Ray Brown deliver the up-to-date information people need, showing them how to:

• Research neighborhoods and home values
• Select the best mortgage-including the latest developments
• Understand the pros and cons of buying different types of housing
• Assemble the right team for putting the deal together
• Negotiate the best price and terms

Reviews (56)

Great book for anyone interested in the home buying process
Eric Tyson is a savvy writer with a wealth of knowledge that is shared in this fantastic book. I am a first time home buyer and purchased numerous books about the process; this one is by far the best. It served as my "jungle guide", and I found myself referring to this book on a daily basis for information. His chapters on gathering a solid real estate team, comparable market analysis, and escrow were particularly enlightening. Tyson's wit and the easy-to-read Dummies style proved a quick read and served to give me the confidence to discern what I wanted and ask the tough questions about one of life's bigger decisions. If there is ONE book to buy regarding home buying, buy this book.

Good but there's a better one
Having read both this volume and the Complete Idiot's Guide to Buying and Selling a Home, I recommend the idiot's guide over this one. The main reason is because the latter is better written and easier to understand. Home Buying for Dummies is very comprehensive but reminds me of my own Ph.D. dissertation: heavy on theory but little on practicalities. The idiot's guide presents information in a way that make it easier to digest and follow.

In short, this is a good advice primer for first-time home buyers, but I think you get a better book and also a better value if you buy the complete idiot's guide version.

(I'm not affiliated with any authors or publishers, nor do I even know or have met them in any manner.)

Only buy this book if you really are a dummy
This is the first "for dummies" book I've ever bought. It's also going to be the last. They're not kidding with the title. Instead of stating their point simply and clearly, the authors patronize the readers with silly stories. For example, instead of saying something like "do not buy a house that's too far from your work," the authors spend a paragraph telling a story of some poor dummy who did buy a house too far from his work and ended up hating everything. Oh, and BTW, if you need a book to tell you that you shouldn't buy a house that's far from your work, then this book is for you. The information presented is oversimplified, incomplete, and sometimes just incorrect. Moreover, this book will not help you at all if you're dealing with an unusual market, such as SF Bay Area, NYC, LA, etc.

I'm not in the real estate business, nor do I have any vested interest in anybody buying or not buying this book.

This book will save you a lot more $$$ than its sell price
This is a great book and gets you thinking about topics and asking questions that your realtor or mortgage lender / broker probably wouldn't otherwise bring up for you. While it does not go into real depth on any single subject, it highlights enough to really help you become an educated buyer. It addresses everything from getting financially positioned to buy a house in the first place (e.g. pay off your bills, save some cash), to finding a good mortgage that works for you (e.g. fixed-rates versus ARMs), understanding where and what are good buys (e.g. principles of progression and regression), forming a team (e.g. realtor, mortgage lender, etc), and the offer / counter/ and escrow processes. With all the info you'll learn, you will easily save yourself the cost of this book (probably many times over). The only drawback is that this book provides general information for all of America as a whole - it does not address specific real estate hot-spots such as Southern California.

Good information
This book had some very good information when I wanted to buy a house. Had good tips and was written in an easy to understand language.

However, I didn't have good enough credit to get a big loan, so I found did a rent to own instead. Good site: www.nkinvestments.com

Nick ... Read more

Book Description

A good market study can make or break a development project. This new book will equip you with the tools you need to evaluate trends and understand the key factors affecting real estate markets. Using a step-by-step approach, the author shows you how to get started, where to get information, and how to apply it to multifamily, hotel, office, industrial, entertainment, mixed-use, and master-planned communities. Thirteen case studies written by top market analysts demonstrate how they implemented these methods and provide you with models to follow. Ideal for anyone new to real estate development ... Read more

Reviews (1)

A Thorough Reference
This book is written like a textbook - starting with the most basic concepts - but moves on to discuss the tools and techniques of market analysis in considerable detail. Separate sections deal with residential, office and industrial, retail, hotels and resorts, and mixed-use developments. Case studies are given for each type of property. Technologies and data sources to assist analysis are discussed.

The two primary authors are a real estate consultant and an author/director of the Urban Land Institute. Many other professionals are listed as having contributed to the case studies.

The book includes an appendix of data sources of use to market analysts, a glossary of real estate terms and a thorough index. ... Read more

Book Description

"Dolf makes real estate investing simple and accessible to anyone who has the will to succeed. He is an All Star in his field!"
—from the Foreword by Alex Rodriguez, 2003 AMERICAN LEAGUE MVP

An all-time bestseller, Dolf de Roos's classic Real Estate Riches shows readers from all walks of life how to find great deals and make great profits in the real estate market. This compelling book reveals why real estate is such a reliable moneymaker, and how novice investors, and old pros alike, can achieve the biggest return on their investment.

Full of time-honored wisdom, proven tactics, and quick-and-easy tips, Real Estate Riches will show you how to find the best properties, analyze deals, negotiate and submit offers, effectively manage properties, and dramatically increase the value of your real estate without spending much money. Dolf de Roos shows you:

• Why real estate is the best investment in the world
  
• How you can consistently find great deals
  
• The eight golden rules of real estate investing
  
• How to use tax laws to subsidize your investments
  
• How to create income using OPM (other people's money)
  
• The pros and cons of residential versus commercial investing
  

Author Dolf de Roos is proud to say he's never had a real job in his life—because real estate pays him better. Following his powerful and proven strategies, you too can leave the nine-to-five life behind. ... Read more