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Book Review: All About Real Estate Investing
24 02 06  9  25
-------- - A Textbook Approach to Making Money in Real Estate
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All About Real Estate Investing, 2nd Edition, by William Benke and Joseph Fowler explains the economical aspects of Real Estate Investment with such cold headed approach that it may as well be used for a formal Real Estate investing course in college. That is precisely what I liked about it, you get the hard facts, the well proven formulas and charts, and the economic reasons and theories on what some things work and why some other things doesn’t. Once you finish reading the book you discover that real estate is not as easy as it sounded initially, and that there are many people out there that may be taking more risk or making worse decisions than they should have made have they had a method in mind other than just trying their luck.
The authors pay special attention on how to determine the profitability of a real estate investment. Interest and tax rates as well as occupancy and capital appreciation rates are all taken into account into the calculations and tables provided by the authors. Although the authors are strong believers in rental houses, they discuss apartments and raw land in great detail. You will also find tips on the best times and conditions to buy real estate properties, paying attention to your cash and income position strength.
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There is a good section on how to team up with others to purchase real estate, and how to use creative techniques like leases with options to buy to maximize real estate gains minimizing the need for capital.
You cal also find in this book a whole chapter on invaluable negotiation techniques that you should pay attention to even if it is to buy your own property – or if you are about to sell it and someone else may be using them.
The book doesn’t have too much information on how to manage a property from the time it is bought to the time it is sold, save for the cursory look at the tenant selection process. Still, the book is about investing into Real Estate, assuring positive cash flow, and potentially selling it at a hefty capital gain – not about managing the investment.
Buy this book well in advance of getting into the Real Estate investing game – use it as a base on which to build your real estate knowledge, but not as a cookbook (step by step details), nor bible (all inclusive-coverage). Follow it with books on more concrete approaches to the process.
Other Real Estate investment book I have reviewed is:
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