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Investing in Real Estate (Third Edition)

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Title: Investing in Real Estate (Third Edition)
by Andrew James McLean, Gary W. Eldred
ISBN: 0-471-40658-9
Publisher: John Wiley & Sons
Pub. Date: 22 March, 2001
Format: Paperback
Volumes: 1
List Price(USD): $19.95
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Average Customer Rating: 4.55 (76 reviews)

Customer Reviews

Rating: 4
Summary: Great 1st read for anyone with intrest in real estate
Comment: I will admit that this is the first book I have read about investing in real estate so I don't have much to compare it to. However, I found it extremely helpful and was able to get a wide range of information from many different areas in real estate. I found the following areas most interesting and helpful; appraisals, boosting value through creative improvements, and information on HUD homes. I did have a problem with how the author down plays the stock market with things like "you mine as well buy lottery tickets." He claims he was once naive when investing in real estate, I believe his naive nature still exists when making such general comments about the stock market. Nonetheless, I would recommend this book, just skip the first chapter and maybe the last two also (pay less tax, income for life).

Rating: 3
Summary: Not Bad, a little too basic and too much cheerleading.
Comment: 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.

Rating: 5
Summary: Outstanding coverage
Comment: 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.

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