Book Description

Investing in real estate can be complex and fraught with perils.New investors and seasoned veterans alike make mistakes.In a brand-new take on real estate investing, experienced investor and attorney Robert J. Hill II shares words of wisdom gained through experience from successful real-life real estate investors nationwide.This is practical advice on the real-life traps that trip up eventhe most experienced investors.

What No One Ever Tells You About Investing in Real Estate will help new, experienced, and would-be real estate investors identify pitfalls and learn tricks and strategies to sidestep problem areas.Readers get hands-on advice in such action areas as:
*Mastering the basics.
*Understanding types of properties and different ways deals are structured.
*Finding profitable real estate deals.
*Financing opportunities.
*What to do when closing as the buyer or the seller.
*How analyzing the sale differs when you're selling versus when you're buying.
*Smart strategies for maintaining rental properties.

Inspiring, motivational, and supportive, readers will learn from these inside stories, including the funny, embarrassing, or even huge real estate investing mistakes that have never been told.What No One Ever Tells You About Investing in Real Estate also includes a wealth of proven forms that support successful practices. ... Read more

Reviews (2)

Short, Pithy, Practical-Thumbs Up!
This book is like sitting down and brainstorming with a roomful of friends and mentors who share their "good, bad, and ugly" stories about real estate investing.It is not only very accessible because of its short story anthology style, it has 100's of practical ideas for every investor.The stories inspire, without glossing over the very real difficulties of real estate investing.It is both entertaining and useful.I hope there is a sequel in the works.

GET THIS BOOK IF YOU PLAN TO OWN RENTAL PROP.
This is an excellent read to really get an understanding of how well and how poorly managing rental properties can be.It is a short read filled with stories of rental property owners.I've read several books over the past couple months.This is definitely worth your time.If nothing else, you will walk away with stories with possible solutions to reference for your future.

This does not cover financing properties much at all, but it is not the point of the book.I'm now reading "The Weekend Millionaire's Secrets to Investing in Real Estate"- corny title but this book is also excellent...it reviews financing more in detail.
... Read more

Book Description

With more than a million copies in print, Robert Allen's Nothing Down for the '90s has probably helped more people achieve success in real estate than any book in history. Countless numbers of his readers are now financially independent and many actual millionaires attribute their wealth to his techniques. Why has this blockbuster bestseller been so successful? The answer is simple: it works! Now, in one of the most practical books you'll ever read, Robert Allen has created effective new wealth strategies for investing in real estate.

Real estate remains the one reliable investment in which profits can be made consistently, no matter where you live. Whether employment figures and stock prices are high or low, the real estate market never dries up -- it is one of the most dynamic income-producing vehicles ever created. The demand for housing will continue to be strong in most areas of the country for the foreseeable future. There will, of course, always be plenty of foreclosures, which are great opportunities to purchase properties cheaply. And, finally, mortgage qualification today is simpler than ever, with new mortgage packages that did not even exist twenty years ago.

Nothing Down for the 2000s shows you how to locate the best buys, deal with real estate agents, and manage properties, all with little -- or no -- money down. Discover step-by-step techniques and dynamic strategies to:

• Use real estate to build monthly income

• Finance bargain properties for equity or cash flow

• Guarantee and secure your retirement

• Find and profit from foreclosures before they are publicly listed

• Sell and trade for maximum gain

• Increase property value

• Use owner financing to create opportunities

• Obtain direct, legal tax cuts

• Profit from conversions

• Develop effective negotiation techniques, and much more

Excellent for beginners or experienced investors, Nothing Down for the 2000s is the key to generating low-risk, high-profit wealth and to a potential future of security and financial independence. ... Read more

Book Description

Whether youre a first-time real estate investor or a seasoned professional, The Complete Guide to Buying and Selling Apartment Buildings helps you map out your future, find apartment buildings at a fair price, finance purchases, and manage your properties. Now revised and expanded, this Second Edition includes tax planning advice, case studies of real acquisitions, and appendixes that add detail to the big picture. Plus, it includes a handy glossary of all the terms investors need to know, helpful sample forms that make paperwork quick and easy, and updated real estate forecasts. With this comprehensive guide at hand youll find profits easy to come by. ... Read more

Reviews (21)

Great Book
This was the first book I have purchased on the subject of real estate investing in multi-family properties.I have been and interested in the subject for some time however.

I found the formulas and rules the book includes to be invaluable, and used them to create Excel spreadsheets to quickly analyze the hundreds of multi-family listings available.I found the book to be easy to read and understand.

The basics about multi-family properties
This book is very informative if you are a beginner to the multi family world.For anyone that has already dealt with multi family, then you do not need this book.However, Berges other book, real estate finance is a good review for the seasoned apartment owner.In that book he goes over some key performance and efficiency ratios that everyone should be aware of when dealing with multi family properties.

The book covers the general ideas behind multi family properties but of course it will differ by region slightly.The cap rates that he speaks of are not available in say california but might be available in indiana.Overall a good book for beginners to intermediate but definitely not seasoned investors.

Good beginners read. Beyond NOI and CapRate? Look elsewhere
This book devotes a fair amount of time on valuation from a beginners standpoint. Overall good, easy and quick read. The case studies and examples appear a stretch. The author suggest that the sweet spot is to find a property with 20% vacancy, a few minor cosmetic issues. It then claims that that by leveraging a 80% LTV, the owner, in a short period of time can increase the vale and sell for a healthy premium. Hmmm... I want to see Steve Berges try this in Chicago or New York metro areas.

As a relatively new property investor, I found the book useful and would recommend to others. I purchased and downloaded the software at thevalueplay.com which is adequate to complement the book's instruction bias. However, buyers beware, these are password protected Excel spreadsheets with macros and without the ability to add formulas, change things here and there, they are useless.

5 Stars for Berges' 5 Keys to Success
Out of all of the real estate books I've read over the years, this is by far one of the better ones.The author stays focused on the topic of buying and selling apartments and does it in a way that is easy to understand.Let me emphasize that when I say the book is easy to understand, that is not meant to imply that only the basics are covered.Not only does Berges do a great job of explaining the mechanics of the process, but he also mixes in a lot of personal examples which help the reader to connect the dots between pie-in-the-sky theory and real world applications.

Steve Berges concludes the book with an inspiring and motivational chapter he refers to as the 5 Keys to Success, which he points out are not limited to just real estate, but can be applied to any business or profession, as well as to one's personal life.I thought this section was very well written and gave me cause to reflect on my own course in life.

I've read several of the author's other books as well, all of which were good, but I particularly enjoyed The Complete Guide to Real Estate Finance for Investment Properties.Wow...what a great read!It's about time somebody wrote a book that really deals with the financial aspects of real estate (see my review).

Unique Insight into Apartment Market
The author, Berges, provides unique insight into investing in apartment buildings.There isn't much written about this topic, and what is, seems to be very generic.This book, however, provided lots of good examples with specific advice on what to do and what not to do.In addition, Berges sprinkles various tidbits of information throughout the book that while not directly related to real estate, are nevertheless quite relevant to being successful in it.I just finished another book of his, The Complete Guide to Investing in Rental Properties, which I also found to be very enjoyable. ... Read more

Reviews (7)

Outstanding !!!
I have read all 3 editions of this book over the last 25 years, with outstanding results ( The 1959 "How I Turned $1,000 into One Million Edition", the 1969 "How I Turned $1,000 into Three Million Edition" and the 1980 "How I Turned $1,000 into Five Million Edition ")

I strongly suggest the How I Turned $1,000 into Five Million edition if you can get your hands on one,
written well over 20 years after the original edition it's much harder to find then the previous editions but it's also most up to date and has much more information than the previous editions, well worth the the trouble trying to obtain it since Mr. Nickerson had 20+ years of extra experience in real estate which was reflected in the last edition

Mr. Nickerson was one of the few people who grew richer each year till the day he died in 2000 using the techniques he outlined in his books

A must for every one interested in real estate investing
William Nickerson and his classic book HOW I TURNED $1,000 INTO ONE MILLION IN REAL ESTATE IN MY SPARE TIME has probably created more millionaires than any other book in investing history.

It simply is a masterpiece of common sense advice, no matter what type of investing you are contemplating

What makes Nickerson's book so good?

His writings are crammed full with practical and real guidance on real estate investing with a proven technique for making money that really works.

No get-rich-quick hype. No motivation speeches or excessive cheerleading. No nothing down promises of instant wealth or easy profits.

Just tons of genuine advice real estate investors need to hear.

Nickerson's method of making money in real estate is so common and understood people still speak about "Nickersoning" properties more than forty years after his original book was published in 1959

Nickerson's book is filled with real world advice. He offers readers the same situations they would find in their world. Sample advertisements that could have been pulled out of any newspaper. Reality based properties with defects and flaws often trying to be hidden by their owners. Brokers that try to mislead with phony price estimates and bogus numbers. This is, unfortunately, the way the real estate world really is. It isn't all peaches and cream. Most people are honest but notice I said most, not all.

Contrast this almost cynical approach with the silly advice many real estate books offer readers. Instead of shrewd and often unscrupulous owners attempting to disguise property defects to maximize profits, we meet naive and motivated sellers who will allow buyers without jobs or credit to purchase their property equity on a nothing-down basis. Or better still, even loan these buyers the broker's fee and closing costs to do so! So many real estate courses and gurus offer a world filled with dumb and hypermotivated sellers to show how their techniques would work in theory, but Nickerson prepared readers for what actually exists in the modern real estate world.

Sadly, William Nickerson died in 2000. He wrote books on other subjects but he will always be known for his original 1959 real estate masterpiece and its later revisions which also contain much more infromation then the original like HOW I TURNED $1,000 INTO FIVE MILLION IN REAL ESTATE IN MY SPARE

cool book!
lots of information, good for starter!! cool book!

Reveals the basic formula for creating wealth in real estate
I ran across this book in the early sixties, when one million was in the title, not five million. I used this book to make several million dollars for myself, and taught two friends to use the book, and they also made substantial money. It isn't magic: it simply shows you how real estate wealth is made, and shows you step by step how to do it for yourself. A young friend has just asked me to show him how to do it , and I went to Amazon to see if the book was still available, so that I could steer him to it. That's why I'm here. I am now, at age 62, a real estate developer, and the same rules still apply. The book is simple, basic, and absolutely true. By a strange cooincidence, I knew the appraiser hired by Simon & Shuster to verify that Nickerson had made five million. The appraiser told me that he believed Nickerson had understated his wealth!

Timeless Masterpiece
If you are starting out in residential real estate investment, this book is a must read. Nickerson presents a conservative, realistic scenario for starting small and steadliy building wealth. This is not a get-rich-quick book or one that relies on gimmicks or nothing-down strategies. It shows you stepwise how to build a solid financial foundation in real estate, and how to leverage current assets into more valuable ones. Nickerson's strategy relies on hard work and persistence, not luck, deceit, or the greater-fool theory. There's no need for an updated version of this book; it's principals and approaches to developing wealth are as timeless as compounded interest. ... Read more

Book Description

Shopping centers and other forms of retail properties continue to be among the soundest real estate investments in North America. But retail property is a highly specialized field of real estate development with a unique and complex set of legal, financial, development, management, and marketing variables about which investors and developers must possess a sound working knowledge. Now this book arms with you with that knowledge, and much more.

The most comprehensive, authoritative, up-to-date resource of its kind, Shopping Centers and Other Retail Properties covers every vital aspect of negotiating, buying, selling, developing, managing, and marketing shopping centers and other retail properties. Editors John R. White and Kevin D. Gray, of the leading real estate consulting firm Landauer Associates, and an all-star team of experts in the field of shopping center and retail property development, share everything they know about:

• All important legal issues
• Investment and feasibility analysis
• Valuation requirements and performance measures
• Planning, designing, and renovating retail properties
• Developing and investing in local and community shopping centers, highway retail centers, and regionals and super regionals
• Operating and managing retail centers
• Mortgage financing and financing through public and private equity issues
• Space marketing and lease terms
• Macro and micro market analysis
• And much more

Shopping Centers and Other Retail Properties is an indispensable working resource for both new and experienced retail property investors and developers as well as those who work with them, including attorneys, accountants, analysts, appraisers, planners, managers, brokers, and consultants.

"Timely insights into an industry undergoing tremendous change." —

For both newcomers and seasoned professionals in retail property investment, this book provides a wealth of vital information on every aspect of developing and managing shopping centers and retail properties. Written by an all-star team of specialists in the field, Shopping Centers and Other Retail Properties:

• Provides expert guidance on financing, developing, operating, and managing shopping centers and other retail properties
• Covers analysis of retail market demand, investment and feasibility analysis, appraisal, mortgage financing, financing by equity, new planning formats, and much more
• Serves as an indispensable working resource for investors, developers, attorneys, accountants, analysts, appraisers, planners, managers, brokers, and consultants

"An authoritative work that will be immensely useful to anyone interested in retail real estate." —

"Retail developments have become the key investments now targeted in real estate. No two people have commanded more respect for expertise than this book's editors. There are many, many books attempting to guide readers in this field. In my experienced view, none compares to the excellence and usefulness of this text." — ... Read more

Book Description

Book Description

A one-stop reference for in-depth explanations of mortgage topics

With the creation of so many new, complex mortgage programs, it's difficult for consumers --not to mention real estate agents, attorneys, closing agents, and mortgage brokers--to keep track of them all. Written by nationally syndicated real estate columnist Jack Guttentag, The Mortgage Encyclopedia helps readers understand the various mortgage terms, features, and options by offering clear, precise explanations. The alphabetical organization of terms makes it easy to quickly find information on any topic, from FHA, Investor, and No-PMI Loans to Origination Fee and Rate Float. Each entry includes not just a description of the term, but also relevant advice for consumers, such as answers to the questions "Is this loan right for me?" and "Can I negotiate this fee?"

• Guides readers through the bewildering array of new mortgage programs
• Features definitions and explanations of common mortgage, escrow, and closing fees and arcane mortgage terminology

Reviews (11)

the real estate boom is alive and well
Mr. Lerah has written a terrific how to book on the real estate
boom. He describes the facts behind the boom in very compelling
way. A MUST READ 5 STARS

John Smaby
Edina, Mn.

Insightful
This book makes perfect sense It does not allow thinking individuals to become complacent in how they view real estate investments for the future.

"He whose bread I eat is the song I sing"
Go back in time to the year 2000 when the NASDAQ was trading at 5,000. Some people said it was a bubble and couldn't go on forever. Yet the temptation to go with the flow and make was seemed to be easy money was irresistible. Driven by the marketing efforts of those who make their living in the stock market, it was argued that prices would still go higher. If you bought into their line of reasoning, surely NASDAQ 10,000 was not too far away.

I was reminded of those times when I read David Lereah's book "Are You Missing the Real Estate Boom." Even after the biggest 5-year run-up in housing prices in U.S. history - where 40% of all homebuyers must now resort to interest-only adjustable rate mortgages in order to qualify for home financing - Lereah tries to convince us that the U.S. real estate market should continue to stay healthy for the next 10 years.

His arguement goes something like this: Even though housing prices are high, the combination of low interest rates, 80 million wealthy baby boomers and their offspring ("echo boomers") will continue to fuel demand. This is not objective, unbiased advice. As head cheerleader for the Realtor hallelujah choir, Lereah is using the same tactics that have been well-honed on Wall Street: "When the ducks are quackin', feed 'em."

I don't remember what Lereah was saying about U.S. housing prices in 1998 or 1999 when prices were 30% lower than they are today (and 75% lower in many of the highly populated coastal regions), but I think its safe to say he wasn't forecasting a coming real estate boom that would last for the next 15 years.

The key to making money in real estate - and keeping it - is to get aboard a rising real estate trend early, not late. While it is true that real estate is a good long-term investment, what Lereah ignores is the cycle nature of real estate. In other words, if you buy an overvalued house late in the market cycle - and you are over leveraged and illiquid like most Americans are today - you may not be around for the long-term.

Robert Campbell
Author of "Timing the Real Estate Market"

Better title - "Join the Greater Fools of America Club"
For me, this was more comic relief than any scholarly analysis.The author has a vesting interest in the bubble not bursting, and he's selling his soul with this book to prove it.

He spins webs of demographics and interest rates, but he never ever addresses the core issues that determine housing values.What is lost here is that housing in itself creates no value, its value is completely predicated upon peoples ability to pay for it.Ergo, housing prices for the last 100 years have tracked income remarkably closely, that is, except for the last five years.Historically, the ratio of housing price to annual income has been 2.1, with very little variation.In many parts of the country, this ratio is now approaching 10.5!Can you say "major correction?"Further, the amount of leverage used to buy homes during this boom has been increased to absolutely unprecidented levels.Even during the last boom of the late 80s/early 90s, the standard was still 30 yr fixed and 20% down.Not anymore.Last year, less than 15% of borrowers put down 20% or more!Further, the 30 yr fixed has been replaced by the IO, or interest only loan.See now, we have the same borrower capable of bidding 30-40% more for a propery without any better credit or ability to repay.Neat trick, but sadly, Lereah at no point addresses any of these fundamentals.

Our stock/housing pattern appears remarkably similar to the one Japan had 20 years ago.First the stock market busted.Right after, the real estate market rallied, and it busted too.The current Japanese real estate market is in a 14 year slide to date, and houses are going for roughly their 1980 value.

Keep talking Dave - we'll need the comic relief soon!

More Cheerleading From the NAR "Economist"
It is a little worrisome to think that so many investors learned nothing form the speculative bubble that was built up in the stock markets, particularly the Nasdaq.When it comes to residential housing, this is simply Act II being engineered by Alan Greenspan, the person most responsible for Act I (the stock market speculative bubble).People fell in love with residential housing ("very safe, good") immediately after they fell out of love with stocks ("too risky, bad").Coincidence? I think not.Books like this one serve only to fan the flames of a fire that is roaring out of control- especially along the coasts.Shame on you Mr. Blodget, er, I mean Mr. Lereah! ----Instead of this self serving new era garbage, read the recently released Irrational Exuberance, Second Edition by Robert Shiller if you want an easy to read balanced account of what is REALLY going on in residential real estate right now.It might save you thousands upon thousands of your hard-earned dollars if it cautions you against joining the home-speculating heard. ... Read more

Reviews (2)

Full of good statistics
Took this course a few years ago, and we used this book. It is a good starter book. There are others out there that could be used also, but this one is written at the average persons reading level. It also is good becuase it covers all properties not just apartments or retail etc..

Good summary
This book is good at the summary at the end of each chapter, but some details in the chapter is not cover. For example, like the law requirement in TX. There is mistake in the book on page 9. On the figure1.3, supposed Heavy Manufacturing instead of Industrial Real Estate repeat twice. This book should provide some excerise to work on. For example, like the math problem, let us know how to calculate the formula. ... Read more

Book Description

In Buy It, Fix It, Sell It...Profit!, real estate investor and rehabbing expert Kevin Myers presents all-new insights on how to create a quick turnaround in your investments by renovating properties for profit.

Beginning and experienced real estate investors will benefit from the new and improved real estate rehabbing techniques to develop a high-profit, low-overhead business.This expanded edition discusses property inspection, tax issues, funding projects, andmaximizing profits.Buy It, Fix It, Sell It...Profit! is a hands-on guide sprinkled with inspirational stories for those who want to create a financially secure future. ... Read more

Reviews (42)

Beginners: this is your book.
I read "Flipping Properties" by William Bronchik and Robert Dahlstrom and I wish I hadn't even read it, let alone bought it. This book by Kevin Meyers is much, much, much better for beginning investors. It tells you what you need to know without delving into a bunch of pretentious real estate legal and technical jargon that's only designed to confuse and intimidate the reader like Bronchik and Dahlstrom's book. Also, this writer actually knows how to write linear paragraphs which is something those other two clowns could really use a lesson in. I highly recommend this book for the beginner who wants to generate some instant cash profits in real estate. If you read Bronchik and Dahlstrom's book and you don't know much about real estate, you're gonna get to the end of it thinking "I'll never be able to do this." Instead, read this book by Meyers. It's better, it's written better, it's more readable, it's more comprehendible, it's everything that other piece o' crap isn't. Get it.

Good deal for $13.97!
I just got done reading this book and learned a lot from it. Though I have yet to purchase a home, the buy-fix-sell strategy advocated in this book seems to be the way to go as compared to the buy-[fix]-rent-[sell] strategy in "Investing in Real Estate, Fourth Edition," (the other real estate investing book I bought along with this one). This book was easy to read and was not unnecessarily complicated. The author seems to be writing from experience and offers many practical insights. I feel that the one major drawback of this book was that it does not cover seller financing in enough detail, therefore it's not possible for me to apply seller financing techniques without getting assistance from another source. For that reason I'm only giving the book 4 stars. For $13.97, this book is definitely worth it!

On a related note, I'm more than ½ way done reading "Investing in Real Estate, Fourth Edition" and I would suggest that a beginner to real estate NOT read it. It uses too many uncommon terms that are not predefined. And worse off it doesn't even offer a glossary. Also, one of the authors is a PhD, so I guess he likes to throw a lot of formulas around. Even though they are simple formulas, I think it's just totally unnecessary to use them so often. I actually started reading this book first, then got tired of it and started reading "Buy It, Fix It, Sell It: PROFIT!." What a difference in writing styles! I'm going to eventually finish this book just to broaden my knowledge, though so far I feel that the buy-[fix]-rent-[sell] strategy in this book has too many liabilities for what it's worth.

Practical
As other reviewers have said, this is written for the layman. Maps the flipping process out and tells you how to do it in easy to understand language. A great starter book. Covers what to look for, working with an R.E. agent, appraisals, foreclosures, purchasing for cash(and how to get it), using private morgage lenders(the hard stuff!),negotiating, inspection, renovation, hiring contractors, and how to sell quickly for top dollar. The final chapter delves into some more advanced strategies. I'm just now getting into "flipping" books and this is one of the best.

ONLY for the complete newbie
This is the first book I've bought solely on the praise of other reviewers. It is also the first book I have ever returned in the four years I've been buying from Amazon. Wow! What a complete disappointment!

Buy it, Fix it, Sell it: Profit! should only be bought by people who have never read ANYTHING regarding buying houses, fixing them up, and selling for profit. I read the free e-book from David Whisant while waiting for this book to arrive...The e-book contained more information and went more in-depth into the topics than this book did.

I have never written a completely negative review before, so here goes: this book is well written and laid out. Having said that, I think that ten minutes spent at google will provide you with a couple of good sites that give more information than this book does.

Not bad, looking forward to a less dated edition...
Anyone spending the enormous amount of money needed to buy property can't frown at $13 for a reference book, if they can glean anything from the book. This guy definitely isn't a writer but the book did contain some good tips. Do yourself a favor and make sure you buy the newest addition - I picked up the '97 and it was extremely dated. My other issue with this book is he uses examples with very unrealistic dollar figures, even if adjusted for inflation. Do you think you're going to buy a $100,000 "handyman special" and renovate it until it's in "doll house/sparkling condition", with that renovation to include a new roof, updated baths, complete kitchen remodel, paint, carpet and landscaping...all for $9,000? Good luck. The roof alone could cost that much and certainly the kitchen is going to run more than $1800 if you're replacing cabinets; even if you were to buy the cheapest of the cheap materials and do the work yourself, in which case the end result would look cheap. To his credit, he harps on the fact that you need to do your homework and estimate all the rehab costs to build them into your offer price - but if you're new to this don't get sticker shock when your estimates for all the above items come in more in the $25,000 neighborhood. One thing I tend to disagree with is his contention that you shouldn't even consider doing the work yourself. If you're starting out and building relationships with subcontractors I think an advanced do-it-yourselfer can do almost anything, you have so many resources available to you with Home Depot, TV and the internet. The key would be getting things done quickly, so maybe farming out the time consuming and dangerous work is okay, but you can do the other stuff yourself much cheaper. Of course, after a few houses and once you've got a HVAC guy you trust, a plumber and electrician you trust and possibly drywall and paint guys you trust, you might take the advice of the book and spend your time looking for the next house.

I did find this book useful enough that I'll be buying the 2003 edition today, you just need to look at it as another resource and not the rehabber bible. ... Read more

Book Description

This intriguing book is not just another get-rich-quick scheme: the Fast Cash is what you pay, not what you get!

And what you pay Fast Cash for is notes—valuable and legally binding promises to pay, secured by real estate, and bought at a discount.

Then you collect the full amount of the note, usually in monthly payments, and earn a handsome profit.

Lorelei Stevens is one of America’s premier career note buyers. In the pages of Fast Cash she immerses you in the business through absorbing stories of how it’s really done, one note at a time.

The unexpected result is a masterpiece of human interest writing. It follows the dreams and despair of people who’ve sold their real estate, financed the sale with a note, and later found themselves in need of fast cash.

That’s where the note buyer steps in—and that’s where you step into Lorelei Stevens’ fascinating world of Fast Cash. ... Read more

Book Description

DID YOU KNOW THAT . . .

. . . Real estate is a better long-term investment than the stock market?

. . . You don’t need a lot of money to begin? Since time immemorial, real estate has been an excellent investment. The long-term returns have actually exceeded the stock market and other investments. If you’re looking for financial security, real estate can provide you with welcome supplemental income, year after year. And if you thought investing in real estate was out of your reach, this book will change your mind . . . and your future! Experienced real estate broker and investor Nicholas Masters demystifies the entire process of buying real estate for you and shows you how to get started. Illustrating his explanations with examples from his own experiences in thirty years of real estate investing, Masters takes you step-by-step through the process of understanding the benefits of owning real estate, finding and evaluating properties, getting financing, closing the deal, and managing your property.

You’ll find out . . .

• Why your first real estate investment should be your own home
• Why there’s safety in numbers—the advantages of real estate investment "clubs"
• The pros and cons of individual ownership, partnerships, and corporations
• How to find properties—brokers, foreclosures, government surplus, sales leasebacks, and other methods of matching up with the right purchase
• The ins-and-outs of financing and mortgages—balloon mortgages versus fixed rate; liens and bankruptcies; and other financing options
• How to deal with repairs, tenant relations, insurance, and other aspects of managing property . . . and why hiring a professional management firm could be a good idea for you You don’t need a million dollars to start making money in real estate. All you need is the clear information and sensible, reality-based guidance you’ll find in How to Make Money in Commercial Real Estate for the Small Investor.

Reviews (5)

Buy this book first
When I decided I wanted to learn more about commercial real estate investment, I bought a pile of books that claimed to be relevant and started working my way through them. This one was the ONLY one that I feel was really worth the read. It starts out by ascertaining whether the reader is truly ready to buy commercial real estate, taking a very prudent view of personal finances. It lays out everything worthwhile that any of the books on this subject lay out, and does so in a very readable manner. At the same time, it does not talk down to the reader or try to "dumb down" any of the material. I would suggest starting with only this book, and then buying other books (or talking to experts) in a more focussed manner, based upon what you find here. Incidentally, I haven't bought any commercial real estate yet, but I still intend to and I am trying to follow the advice of this book in preparing to do so.

Sound information. Good for experienced or beginners.
This is a good book with lots of good information. The book is great for persons without any knowledge of commercial real estate and is a good reference book for persons with experience in commercial real estate.

It is worth noting, however, that the much of the author's experience with investment real estate seemed to be during the 1970's decade. During that period of time there was hyper inflation in the real estate market. Often values and prices paid for real estate did not make much sense.

Some of the examples in the book refer to properties indicated to be worth several million dollars - and not exactly what you would call a small investment property.

However, the financial scenarios in this book are based on reasonably sound financial and economic theory. And the reasoning for the mathematical financial calculations seem to be fairly sound.

The book is a good buy for the price.<...

Great way to get started
This book was very simple to read, but jam packed with information. I not only enhanced my knowledge of real estate investing, but also got a refresher in economics. Masters discusses many tools and tips on the best way to get started and shares his experiences both good and bad. While he answered many questions that I had, he opened the doors to other questions I never thought of. I thought I was ready, but now I realize I still have some work to do.

If you are serious about Real Estate, you must read this one
This book and "The Complete Idiots Guide to Real Estate" are my two all time favorite real estate books. This is about true real estate investing. If you are sick of the no-money down,flipping, foreclosure, single family bottom end type books then this is for you.

Very Inspiring
From the front cover to the last page, I found this to be one of the most informative books on investing in commercial real estate for the small investor that I have ever read. I would recomend that anyone considering investing in commercial real estate read this book. It contains information not readily known to the general public. Mr. Masters obviously knows the in's and out's of investing in commercial real estate, and he has graciously shared that information in this well written and delightful book. ... Read more

Book Description

Through savvy investing and the basic principles of entrepreneurship, experienced and novice investors alike can find financial freedom in real estate investments.Global real estate expert Russ Whitney provides an easy to read, comprehensive look at both traditional and creative methods of real estate investment.

In Millionaire Real Estate Mentor: The Secrets to Financial Freedom through Real Estate, Whitney discusses when to purchase property, describes details to research, and introduces the pros and cons of various types of real estate, investing, and financing.He encourages his readers not to be intimidated by real estate investments but to educate themselves, set goals and stick to them.The publication is the ultimate reference guide for all real estate investors, experienced and novice, to financial freedom. ... Read more

Reviews (16)

GO FOR THE RICHES with Millionaire Real Estate Mentor
I have been a real estate broker and real estate investor for over 30 years. I have read a tremendous number of "HOW TO' books on real estate investing. Russ Whitney's Millionaire Real Estate Mentor is a masterpiece for beginners as well as experienced real estate investors. It covers it all, from Creating a Power Team, Wholesale Buying, Purchase Options, Preforeclosures and Foreclosures, Mobile Homes, Rehabbing, Commercial Real Estate and a whole lot more, including Powerful Wealth Building tips.Written in a style easy to read and understand. Go for the Riches with this book!!

Everything You need to know tomake $$ in real estate
This book is the most comprehensive book on real estate I've ever read. I've been to many courses, and have read other books, but this one offers advice on everything you could imagine when it comes to buying, investing in,maintaining, and selling real estate. It's not a "get rich quick" book. And that's a good thing. Russ explains that you need to surround yourself with a wealth team to advise you and guide you (especially if you're new at this) so you make the best decisions. If you're serious about making money in Real Estate, I'd advise buying this book!

Why does Amazon keep deleting the one star reviews?
You should always take any Amazon "rating" and subtract about 2 stars since they delete the unfavorable reviews and let the authors write many 5 star reviews under different names and post them.

This is the third or fourth reveiw I've written for this book. It is esentially a collection of late night TV commercials so save your money. You might also do an internet search on the author's name before buying.

Not for beginners
If you enjoy watching get-rich-quick late night TV, by all means, buy this book. For the rest of the real investers, go do a Google search on the author's name. Spend a few minute researching before spending your money. I did the research and brought the book anyway, because I want to see what Whitney has to say. It turns out a lot better than I had expected. I think he copied a little here and there from other books.

I would not recommand this book to beginners, because they don't know enough to know what they don't know, and this book only teaches and motivates readers enough to get them into trouble.

The Only Real Estate Book I Have Seen That Is Not Crud
I have always been a real estate sceptic (at least a sceptic) but I have to admit I like this book. The testimonials are a nice touch and some make sense for me. I am primarily a stock market investor. That is what I know and understand best-it is my specialty. I have alway had an interest in real estate but I really did not understand how to go about it. This book provides some very usable techniques for the newcomer. Also techniques for avoiding losing money are presented throughout the book. I only have two complaints but they are not really about just this book. First, there is no section that deals with the risks of real estate investing in an explicit way. This is a peeve of mine with both stock investing and real estate investing. The tone shall we say is upbeat and devil take the hindmost. There is no crime in explicitly discussing risk and I do not understand why people do not do this when they write books about real estate and stocks. Nevertheless this book contains much more information on how not to lose money than virtually any other book on real estate I have seen. Second, I wonder about the level of research and exposure in the real estate arena. In stocks the vast majority of profit is made at the market level with the complete curve being gaussian. I wonder if the same is true in real estate or if there are real opportunities to "beat the market" in real estate. But these are advanced questions that reading this book got me thinking about and that is good. This is the first real estate book I have read which could convince me to participate. ... Read more

Book Description

Reviews (13)

Does a bubble really exist?
The main problem with this book is that the author believes the housing market will crash and so therefore it is not an objective look at the residential real estate market. As a result, I did not find it helpful. I live in Southern California. The housing market crashed in the early 1990s not because of interest rates or overbuilding but because of a severe recession. The California economy was still in recession while the rest of the country improved. This drove many people out of the state, which of course led to more supply of housing than demand. Housing dropped approximately 40%. However, anyone who held onto their home made that 40% and more back in less than a decade. A previous reviewer claimed that San Diego's population and housing have increased at the same rate, yet there has been a 110% increase in prices. This simply is not possible. Housing is based on supply and demand. Housing simply won't go up in value if there is little or no demand.

It is estimated that only 80% of the necessary housing is being built to accommodate the large numbers of people moving into Southern California. For every 3 jobs created in Orange County, California only one housing unit is built. This has driven many OC workers into homes in surrounding areas like Long Beach and Riverside, which has driven prices up in these areas. Many building companies are wary of overbuilding so they are constraining supply. Local governments make more money from commercial real estate, so they have had strong incentives to provide more permits for commercial rather than residential real estate, which has contributed to current housing shortages. An increase in interest rates may temporarily dampen the housing market but as more people enter the rental markets already sky-high rents will go higher driving even more people back into the housing market. I don't see any decline in Southern California housing for a long time. As a result, I don't believe that there will be a housing bust anytime soon to benefit from.

Real estate is local, so you can't judge what may happen in Illinois based on what is happening in Arkansas, which is why I am only discussing my local market. The rule of thumb is that housing increases an average of 6% a year. Some housing markets can go into decline and remain in decline for years. However, these are generally areas that are/were dependent on one industry or one company as an employer. This book is interesting in many respects but I don't feel that his premise applies where I live.

Perfect Timing
The whole "How to Profit" thing is a little overdone
these days, but this book's timing is good enough to
make up for the unoriginal title. Here in California,
real estate is clearly a bubble, and Rubino does a
good job of laying out the causes and consequences.
Then he fits the housing bubble into the big picture
which, if he's right, is absolutely terrifying. In a
nutshell, we've been borrowing like crazy for the past
twenty years, and now we're eating our home equity.
Pretty soon we'll run out of wiggle room and the whole
system will crumble. People who borrowed to the max on
overvalued houses will go bankrupt and the companies
that are inflating the housing bubble will crash. And
the east and west coasts, where home prices are
highest, will have the hardest time. All things
considered, it's a tightly-reasoned, well-written,
very scary argument.

One tip for readers: You can skip the "Housing
history" section (it's interesting but not necessary
to understanding today's housing bubble) and go
straight to the second section, where Rubino explains
how the housing bubble happened and why it's going to
pop.

Not a great treatment, but there isn't much alternative
SUMMARY:

If you are just looking at this thread for the first time, and are the general "layperson" most of us are, I suggest you might want to read the first half (125 pages) to get a relatively complete and coherent high level discussion of the possibility a bubble exists. After you do that there are lots of web resources that have more detailed & up to date facts & arguements. It's a pretty easy read -- too easy, if anything, it does not go nearly far enough in depth for my tastes (but then again I am a systems analyst by profession). I personally think this book is mostly worthless, indeed possibly even dangerous in its advice, for the purposes the title claims (how to make money on the bubble popping), but the description of the arguments to for trying to do so are a bit better.

DETAILS:

The first half of the book (which another reviewer suggests you could skip -- !!!) is actually the most useful IMO. It gives a general summary of the reasons that sugggest current housing prices are unsustainable. The arguments are not very complexly constructed, but I don't fault the book for it, I think it has a target audience, and that is the general public, not the subset who have a firm grasp of macroeconomics & math. My biggest gripe with this part of the book is that he expresses some facts in a misleading way, to my mathematically semi-sophisticated eye. For example, on p. 62 he has a graph of total US debt and GDP vs. a 45 year time axis. To the "untrained eye" (and he supports this impression in his text), it looks like debt is growing much faster than gdp. This impression is created by the fact that both are under $5trillion in 1957, and by 2002 gdp is $10t and debt around $34t. However, I suspect if you graphed the RATIO of debt to GDP (which is really the issue, what multiple of gdp is debt, i.e. very roughly, how many years of earnings collectively would it take to pay off collctive debt), you will see the ratio MUCH higher at the start of the period than now, you'd probably see a decline in the graph slope for many years, then maybe an increase starting around 1985, based upon an eyeball evaluation of the two curves. That would have been a MUCH more meaningful graph, a more useful historical perspective. Maybe he thought that too abstract for his intended audience, being a derivative of the data (change over time in the rate of change of the ratio), but in this particular case I believe he has made more out of those historical numbers than is really warranted. The problem for me is, when you see that once, you start to trust less all the rest of the arguments he makes, you instead find yourself wondering "what did he leave out or misrepresent this time?" But with that caveat, I repeat that this is still the best overall attemtpt to make a case for a housing bubble, with the possible exception of a "Special Survey" done by the magazine Economist on 5/29/2003, which looks at the issue from an international perspective.

The last 1/2 of the book (the ostensible purpose, "how to make (or save) your money when the bubble bursts") seems even less well thought out. I'm not a professional investor, but I have been doing it a couple decades now & I came out of reading this book with very few viable (IMO) ideas on how to achieve what the title promises. For example, buying cash rich companies -- he lists msft, csco, intl, dell, nok. This advice is totally bereft of the context of stock price or p/e, and I'm sorry, a dollar is worth a dollar, and you can't say a company with cash is a good buy without even referencing how much cash you will pay for that cash!!! the suggestion of convertible bonds is also curious, I admit I have not looked at them much in my years, but my intuitive reaction is, won't these only do better than normal bonds as the stock price INCREASES (i.e. as it approaches the conversion price?) these bonds pay a lower rate & make up for that with the option to convert to shares at a fixed stock price. The value of that conversion option drops with the stock price (indeed for convertibles close to strike price, stock price changes are MAGNIFIED in the convertible pricing). And regarding gold pricing -- I actually have one raw gold producer that he mentions on my watch list right now, they are a major player in many other metals markets as well (copper, silver, etc). Having that POV, I can tell you that he has totally ignored the whole question of decreased industrial demand that would come with the kind of financial catastrophe he envisions, very relevant given the exposure this particular stock has to these other metal productions. Heck that is the reason that I am still on the sidelines, reduction of demand in china (which is creeping up in the news more in recent weeks as they attempt to engineer a "soft landing" to a badly overheated economy) could totally take the floor out from underneath a lot of these companies.

Finally, while by no means suggesting this is a fair way to evaluate his advice in this second half of the book -- since the whole argument is predicated on the collapse of the housing market, which has not (yet) happened -- it should be noted that a quick review of many of his suggested strategies shows that anyone following his advice in the one year approx since he finished writing it (he mentions this being the beginning of June 2003) would have vastly underperformed the market, or even lost money, in the interim.

So, in short, I find the first half the book (is there a bubble, why) a pretty good introduction to the argument for it, not perfect, but perhaps the best one out there. I find the other half (what will happen to the economy when it bursts, how to profit/protect yourself from it) very much unsatisfying, and I am stuck where I started, thinking "I think there is a serious risk here" but still unable to figur out how to translate this concern into concrete action for my own personal finances.

Worth a read
If the names Stephen Roach, Marc Faber, Bill Bonner, Bob Prechter, or Jim Puplava are familiar to the reader, then John Rubino's well written, easily digestible, and quite convincing summary of the bear case (not just in real estate, but also in the US equity market) should be old news. However, if these names are unfamiliar, the reader would do well to plunk down the money to buy this book, consider his argument, and give some thought to preparing for possible bad times should they occur.

Rubino spends the first part of the book laying out a case for why a bubble exists in the real estate markets, and then uses the second part of the book to explain possible strategies to protect assets and even profit. The hedging strategies are well organized, but I doubt most people would consider shorting housing/fannie/freddie stock or buying gold/silver bullion. It would also be unrealistic to expect people to abruptly move from their overpriced houses in California/Boston, leaving friends, families and schools behind. The asset protection strategies could have been more detailed (in the same vein as the books by Martin Weiss). Rubino could have made his real estate bubble case stronger by using more local market information, statistics, and graphs (a la John Talbott in his highly recommended book The Coming Crash in the Housing Market).

Overall, this book would prove valuable for people unfamiliar with the risks in the economy and the possible outcomes if this risk ever manifests itself in the economy and the markets.

This reviewer cannot help but add as an aside that given the current conditions (early 2004) in the United States of unhealthy financial asset and real estate valuations, burgeoning debt and its financing by foreign nations with their own unpredictable agendas, high budget and trade deficits, and wage pressure brought on by globalization, it might not be a bad idea for the reader to recognize that the potential downside risk may be much greater than any potential upside, and act accordingly when planning for their financial future.

Outstanding!
I never thought I'd say this about a finance book, but I couldn't put this one down. It is fascinating, logical, concise, well-written, and occasionally quite funny. Despite the catchy title, it is about more than just the regional housing bubbles we are experiencing right now: it is a primer on the entire lending industry and how badly it's gotten out of hand.

Just to be clear about it, this is not a "doom and gloom" or "the sky is falling"-type book. There are no histrionics to be found here, only well-researched facts and common sense presented in a very reasoned manner. Whether you own real estate or are thinking of eventually buying, and whether or not you are convinced that some housing markets are overpriced, this book will give you the background and advice you need to protect your assets and possibly even to profit enormously.

I have to comment on one of the other reviews here, by "A reader from San Diego, Ca," which implies that Rubino ignores the laws of supply and demand. This is an unfair accusation because it cites bad data: as a matter of fact, San Diego's home supply has increased at exactly the same rate as its population growth. They have both increased by 7% in the past 5 years. In the same time period, San Diego home prices have increased by 110%. The person who posted that review is clearly more interested in rhetoric than in facts but I wanted to set the record straight. ... Read more

Book Description

"Everything you need to know to make millions by investing in real estate. Be smart -- take advantage of their invaluable experience to help you reach your financial goals."--Jack Canfield, Co-author, The Power of Focus, Dare to Win, and the Chicken Soup for the Soul(R) series.

A proven formula for making a killing in small real estate investments in all market conditions

Millionaire real estate investor Mike Summey and nationally recognized negotiation expert Roger Dawson team up to offer a complete program for becoming a real estate magnate in your spare time. Unlike all the get-rich-quick real estate investment guides on the shelves, The Weekend Millionaire shows readers how to look beyond price to the fundamentals of what makes a property valuable and to leverage that value in order to build wealth, consistently, over years. It also teaches them an original, win-win negotiating strategy in which the buyer determines the terms of the purchase and lets the seller determine the price.

Readers get clear, step-by-step guidance on how to:

• Find great investment properties
• Approach sellers
• Structure a win-win proposal
• Get a proposal accepted--even with no money down and bad credit
• Negotiate a transaction
• Manage and maintain properties for increasing returns

Reviews (27)

Why did it take so long?
I've read dozens of books on real estate investing and to be honest, I've found most of them either over my head or just plain unbelievable. When I heard Mike Summey talking about the book on the Real Estate and You show on WYCA-FM, I had to check it out. Finally, I've found a book that explains real estate investing in simple language and breaks it down into such doable tasks that I can't wait to get started. I loved the stories that illustrate how to apply the techniques the authors teach. Not only do they tell you what to do and how to do it, but they go the extra mile and use real life stories to show you how to achieve successful win/win negotiations that benefit everyone. If you don't buy another real estate book, buy this one. It's a keeper! You may also want to check out the website listed in the book. It's www.weekendmillionaire.com and it's a great resource for real estate investors.

Fantastic read
As a beginner to real estate investing, I have been trying to absorb as much information as possible. This is the 4th book I have read on investing, and it is by far the best. The book does not promise overnight succes, but it does show you how to slowly build assests, and create a stream of income that you can live off of over a period of time. They give stories that they describe as not being typical, but they do help you stay motivated. They also provide easy to follow examples, and charts. I have noticed alot of people who have rated this book poorly seem to have too large of an ego to admit they learned something from someone else. Dont let the negative reviews sway you. If you only have limited time, and only want to read one book, make it this one. The title couldnt be more accurate.

Simply the Best.
This book truly covers all aspects of real estate in a very useful, educational manner. The concepts are as timeless as they are valuable. I've read it three times, and I'm constantly referencing it fir information... a MUST READ!

Weekend Millionaire's Secrets to Investing in Real Estate
It is the best book on real estate investing that I have read in the nine years I've been in business as a real estate investor. I enjoyed the down to earth format that both Mike and Roger used to get their points across. The five chapters on "negotiations" by Roger is an expert negotiator and Mike has a sense of humor as a southern gentleman and a no nonsense approach to investing in real estate as "buy and hold" strategy. I highly endorsed the book to all of my students whom I am mentoring presently. You can't go wrong by reading the book and asking questions on the chat room at www.weekendmillionaire.com to both Mike and Roger. Looking forward to their new book when it comes out!!!

Very good real estate book-priceless information
I have to laugh at reviews where on reviewer wrote "Mike did this and Mike did that. Wouldn't you want to be like Mike?" Since the title of the book is The Weekend Millionaire's Secret's to Investing in Real Estate co authored by Mike Summey, I would think that anyone who bought the book would indeed like to be just like Mike. After all, he is a millionaire and achieved his success in real estate. Why not be like Mike. Sure beats being like that one star reviewer who even came back and voted 47 times for his own review. Now that is somebody with a head trip! ... Read more

Reviews (33)

Put a little TLC (Tax Lien Certificates) in your portfolio.
Tax liens are the safest, highest yielding investment available today. In North Carolina, where I live, tax liens pay 12%. Better than CDs and better than losing money in the stock market. In Iowa, tax liens pay 24%. In Texas and Michigan, 50%.... First, tax liens are available in N.C. AND THEY ARE AVAILABLE IN MOST STATES, NOT JUST 25. Perhaps he is confusing deed states with mortgage states. Tax liens are among the safest of investments. The only real risk is if the debtor pays off the lien prematurely---you lose profits. Or if you buy a lien on a really bad piece of property. If the debtor doesn' pay off the lien, you get the home and foreclosing is not all difficult.... I highly recommend the 16% Solution and of course investing in tax liens. Obviously. Great money maker along with real estate and discounted mortgages.

Ignore the negative and uninformed bashers of tax liens
The 16% Solution is an excellent book to help you get started investing in a very powerful and safe investment.

True it was written back in the 90's, but things really haven't changed all that much. And yes it is true that institutions are in on tax liens, but the real truth is that these were and are and always have been the primary players. I suspect the negative reviews are from banks and other institutions who do not want you to know about these outstanding investments.

The rate of return is not cut in stone. While you are not guaranteed 16%, in some states and in many cases you can earn 50%...even today.

I invest in tax liens and especially over the last three years, have far outperformed the stock market and other forms of investment. I have also picked up houses for pennies on the dollar via tax liens. Remember, a tax lien is superior to all other liens, even IRS liens.

As I said, I invest in tax liens and the USA is a huge market place. I don't feel that letting you know what a great investment tax liens are is going to hurt my business. And no, I do not have any courses or books to sell. Nor am I in any way associated with this author or any other author or seminar promoter. I just believe in these investments based on my own experience and hate to see potential investors scared away from a very powerful and lucrative investment because of one malcontent who is only trying to push a dead website which does have books and seminars to sell.

I guess I am old fashioned that way.

The 16% Solution is an outstanding book and I highly recommend it.

Have to agree with the five star reviewers,
There are some pretty bored and misinformed people posting on this board. Obviously, despite their raging, bashing and claimsof being tax lien investors, their reviews spew out totally unsubstantiated comments, and these people don't know beans about tax liens.

Tax liens are among the safest and most profitable ways to make money. SAFER & MORE profitable than playing the stock market. You can make up to 50% rates of return in some states. One caveat; beware of land in certain areas and research the liens that you are going to buy.

Tax liens are profitable, safe and fun. Disregard the 1 star reviewers on this great investment and this great book. Sure it was written back in the early 90's, but not that much has changed. This isn't like personal finance or tax strategies which change almost constantly.

The 16% Solution is a great way to learn how to invest in tax liens and I recommend it.

Powerful rates of return
I first heard about tax liens from reading Charles Givens excellent book Wealth Without Risk (now More Wealth Without Risk)

Tax liens are a very powerful and safe investment tool. Imagine government guaranteed returns of 18%-50%!

WARNING: Many investors hope you never find out about tax liens. I attended a tax lien auction in Miami county, Fl and also one in Pennsylvania. The attitude is somewhat like a library with a hush and everyone looks on you like a outsider.

I recommend you attend a auction in your area to fully appreciate the value of tax liens. First, read this book and I also recommend More Wealth Without Risk for tax liens and other financial information.

Tax leins are a fantastic way to achieve Wealth Without Risk.