Real Estate Investing for Dummies
“This is simply the best book on the topic.”
—Randall Bell, Author, Home Owner’s Manual
“Tyson and Griswold have truly opened the world of real estate investing to all by tackling often complex issues in this easy to understand and use book. I can’t think of a better way to get smart about building wealth through rental properties than to read their excellent Real Estate Investing For Dummies!”
—Vern Hoven, CPA
Non-prime time TV is cluttered with infomercials about how you can buy non-prime real estate for next to nothing and get rich quick. Common sense should tell you that’s an exaggeration. (If common sense doesn’t tell you, bankers will.) Nevertheless, it is possible to get rich gradually by investing in real estate. Long term, you can expect to realize an annual return of 8 to 10% a year.
Real Estate Investing for Dummies gives you the keys to successful real estate investment, whether it’s in single family homes and condos, apartments, vacation homes, commercial properties (office, industrial, and retail), raw land, or REITs (Real Estate Investment Trusts). With guidance from authors Eric Tyson, MBA, a financial counselor, and Robert S. Griswold, a veteran real estate investor, you’ll discover how to:
- Find and buy the best properties at a fair price
- Capitalize on opportunities such as foreclosures, no money down deals, auctions, tax sales, and more
- Secure financing and good mortgage terms
- Value, evaluate, and negotiate everything to do with real estate
- Work with agents and other professionals
- Project income potential and cash flow
- Handle contracts, inspections, and closings
Whether you’re interested in a fixer supper for rental, premier office space you can lease, or a vacation home you can enjoy and rent, when you become a buyer, you also become a landlord. That means you can hear from tenants any time, night or day. It means you may not hear from them when the rent is due. Real Estate Investing for Dummies also helps you:
- Find and keep good tenants
- Negotiate lease agreements
- Insure and maintain your property
- Keep good records for tax and accounting purposes
Remember, with any deal, you have to know when to hold them and know when to fold them. So Real Estate Investing for Dummies gives you guidelines on when and how to sell and how to reinvest to build wealth. It also lists 10 real estate investments you shouldn’t touch with a 10-foot pole. Especially if you’re tempted by those late-night infomercials, that warning could save you a fortune!
User Ratings and Reviews
3 Stars How quickly the tide turns
This was all great advise for 2005-2006. Now here we are 2008 and everything is upside-down and the best and safest investments appear to be short-sales and various wholesale flipping stategies for investment. As I read the book I kept being reminded of how a changing market requires a changing approach to investing.
5 Stars Great book!
This book is super if you are considering real estate as an investment. I like it so much, I take it with me virtually everywhere I go! It is a suberb resource and caters to almost everyone in every situation! A great book and will definitely get my use out of it! Delivery was super fast too!
3 Stars Not 2002-2005 anymore
Not a bad book. I’m writing this review late in 2008, so many of the items the book talks about would probably be a HUGE money risk right now. Maybe pick it up when the real estate industry picks back up…ummm…maybe around 2012. Unless you have cash on hand now to invest in foreclosures or something along those lines. Good informative read nonetheless though.
5 Stars very informative book
i’m currently reading this one and it’s full of useful info, tips etc. i have hiliter marks of different colors, post it notes all over it and a notebook i keep handy so as i’m reading i can jot down questions or take notes as reminders of rules i need to follow i.e. invest close to home; buy good property in a good location. i’m finding the book very useful since i’m new to real estate.
5 Stars Gotta Get Me Some Land!
Authors Eric Tyson and Robert S. Griswold (the ‘S’ stands for ‘$old’) do an excellent job of breaking down the often confusing and risky world of real estate. As one of the “common man” I wanted to learn about buying and selling land and hopefully seeing quite a return on my investment. I’m happy to report that this book is a simple entertaining and educational read.
Real estate has always been a fascination for me. When I was 5-years old I remember my father telling me, “Son, stocks may rise and fall, utilities and transportation systems may collapse. People are no damn good, but they will always need land and they’ll pay through the nose to get it!”
“Remember,” My father said, “…LAND.”
Those words still resound with me today. And, after reading Real Estate Investing for Dummies I’ve slowly been buying land east of the San Andreas Fault, so if indeed the “big one” hits, I’ll see quite an increase in my initial investment as I’m sitting on the new west coast.
For people interested in my strategy I’d also like to recommend the book -Predicting Earthquakes: A Scientific and Technical Evaluation – with Implications for Society by The Assembly of Mathematical and Physical Sciences.
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