Book Description
This is the 2007 Edition of the first book in the "Practical Guide" series for the mortgage industry.
Published since 1992, and updated annually, this 198 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 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.
Customer Reviews:
Great book, but . . . ........2007-05-26
This is a great book and needs to be in your library if you are, or are considering a career in the mortgage industry. But, Mr. Morgan needs to do a better job of describing what is in the tables used as examples. It becomes confusing when looking at a box with numbers in it and little or no quantification of the rows or columns. If this book is truly a "guide to residential finance" then more examples are needed and perhaps some excises with answers, kind of like a text book. Even though this book has been around for several years, a few modifications could make it a well rounded text and an industry standard.
One of the best!.......2007-01-23
If you're new to the mortgage business, then I highly recommend buying this book. It's very detailed and contains all of the practical info that you need to get a start in the mortgage industry.
Other than that, at times it becomes confusing due to a few editing errors.
The Loan Officer's Practical Guide to Residential Finance.......2007-01-05
This is a text book for all loan officers. It is a must read for everyone interested in mortgages. The book is easy to understand and gives all the information in one place. This book will teach you everything you need to know about mortgages. Maximize your knowledge.
Great Info...Poor Editing.......2006-10-24
I agree with many of the previous posters as to the value of the information contained in this book....it is excellent. That being said, the book is evidently updated annually and the author does a VERY poor job of editing from one edition to the next. I believe this to be part of the reason a previous poster found the text to be confusing at times. In addition to typographical errors, there are errors in the page locations of certain topics, and errors with some tables as well.
That being said, I still highly recommend this book. It is not one to be read only, but to be worked through with paper, pencil, and calculator.
Good guide, but can be confusing sometimes.......2005-09-26
This is a good book. It is crammed with lots of information that is specific to the loan industry. It is a comprehensive guide covering most of the aspects of the loan industry. I turn to this guide every now and then to check up on problems and questions that I run into with my loans.
Only problem is that it could be written more clearly. It's difficult to decipher some of the figures and tables because the author doesn't explain them enough beforehand. Also he uses some jargon and other terms that might not be familiar to a new loan officer.
Overall, a good guide with lots of specific, useful information. Drawback is some parts and concepts are not clearly explained. I would still recommend to buy it though as its faults are not overwhelming.
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.
Download Description
Whether you¿re 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 you¿ll find profits easy to come by.
Customer Reviews:
A Great Introductory Investment Real Estate Overview.......2007-05-16
I've read several realestate investment books and this is the most comprehensive. It covers all aspects of finding, negotiating, financing and managing apartment building investments. Additional reading and investigation will still be required; however this is a great place to begin.
Great Read, Extremely Valuable........2007-04-22
With all the hype out there in the real estate investing space, it's refreshing to read a book that is honest, intellectual, and driven by a solid foundation in financial analysis.
Steve Berges does an outstanding job of walking the reader through general concepts, straight-forward examples, and detailed case studies. The financial analysis might be a little overwhelming to someone who is being introduced to so many financial concepts for the first time. If you don't have an understanding of finance, I'd recommend hitting Google or a Finance textbook to help get through the financial sections.
Overall I really enjoyed this book and thought it was packed full of valuable tips and information. I highly recommend this book to anyone interested in adding apartment buildings to their real estate repertoire.
If you don't yet know how you want to invest............2007-04-11
...this is an excellent read. I had never given apartments a thought until reading Steve Berges. Now they are in the mix. The charts in Chapter 8 are a bit tedious, especially to a beginner, but by the time you get to the end of the book, you will know if buying and selling (or keeping) apartments is for you. Pay attention to what Berges says about the value play (Chapter4).
Well written guide.......2006-08-20
This book is a concise well written guide to the core issues of buying, owning and selling multifamily buildings. It was extremely valuable in evaluating our first purchase of a multi-family structure.
4.5 stars for another good book by Steve Berges.......2006-08-17
As a real estate investor and author myself, I read a lot of real estate books. Many, if not most, are written by folks who do not invest in real estate themselves; they only write about it. Berges is not one of them. He knows his stuff and it's clear that he practices what he preaches. I have read three of his books and, I must say, he's one of my favorite real estate authors. You can trust what he says. Experienced investors may want a bit more detail from Steve, but what he does say is accurate and safe. This is a good book on buying apartments. In fact, in my own book, "Investing in Duplexes, Triplexes & Quads," I list the best books I've read on different areas of real estate. This book is the ONLY book I recommend on investing in commercial multifamily (ie, apartments of 5 units and up) properties.
Having given those accolades, here are a few of my constructive criticisms:
1. On pages 37 and 38, Steve gives nice charts illustrating the long-term financial benefits of investing in multifamily properties. On page 39, however, there is an error in referring to the big numbers shown. The reference is made to Investor A's "equity" of $2.1 million and Investor B's (the multifamily property investor) equity of $92 million. I just don't think Steve caught this, but those numbers don't refer to the investor's equity, but to the fair market value of his collective assets (his properties). The investor's equity might be in the range of 20% of that. I do like the charts, however, and I used a similar analysis in my recent book. One other note on the charts - they presume selling and buying exactly at the end of one year - a difficult task as Steve would surely admit. On average, I think 18 months to two years is a better time frame for flipping apartments.
2. Refinancing - Steve didn't give a chart showing the long-range effect of the "buy, hold and refy" strategy (using proceeds to buy again, but retaining the first property). In addition, Steve only mentioned the general banking guideline that you can only pull out cash up to 80% of the new appraised value (i.e., the bank has an LTV of 80%). However, you can get around this. I've done it. It requires a second lender giving a second mortgage, with a CLTV (combined loan to value) of up to 90%. As such, you can pull out much more cash.
3. GRM - gross rent multiplier. In his financial analysis section, Steve doesn't give much detail or provide real life examples on this crucial analysis factor. Granted, the cap rate is the analysis primarily used for commercial real estate, while the GRM is the one used for residential multifamily (2-4 units) real estate. Since many owners and selling brokers will "fudge" on expenses, a cap rate can be very hard to verify. The GRM, however, is fairly simple - just look at the lease agreements.
4. Lack of coverage on residential multifamily apartments. In fact, this is why I wrote my book on this topic. If Steve had covered it here, I would not have written mine. I like Steve's writing style and he knows his stuff. But for investing in small multifamily properties (certainly on residential, but probably up to about 10 units), we really have to cover valuation and selection of properties using the GRM. That and I felt like the "buy, hold, and refy" strategy needed much more coverage.
But for investing in commercial multifamily properties, I recommend this book as the only good one on the market.
Larry Loftis
Author: Investing in Duplexes, Triplexes and Quads: The Fastest and Safest Way to Real Estate Wealth
Book Description
The Complete Guide to Real Estate Tax Liens and Foreclosure Deeds introduces you to the best investment alternative of stocks, bonds, and mutual funds. Every month, smart investors are placing their money in fixed interest rates of 16 percent or more in government-sponsored tax liens. Plus, learn how to invest in foreclosure tax deeds. All of this in 7 days! From the publishers of Investing Without Losing, ISBN 0978834607.
Customer Reviews:
An affordable alternative to expensive seminars.......2007-10-20
I took the bite from a real estate conference's suggestion about this book and was pleasantly surprised. Considering that tax lien systems cost about $199 on the low end and over $5000 on the high end, this book is a breath of fresh air. It is actually fun to read, the author puts in light humor.
But the cost or humor isn't really why I gave it five stars. The information is straightforward for even elementary level, but the thing that puts this above other tax lien books is the free online support that otherwise would cost expensive hourly fees from coaches on systems.
Short and to the point........2007-10-19
This is a great book for a novice like me. Short and to the point!
Good overview.......2007-10-18
Each week I see infomercials on buying tax liens as a way to own real estate. Wanting to know more, but not wanting the hassle of infomercial upsell pressure, I got this book. I think it offers a good overview of how tax liens work. It also shows that you're not too likely to buy a tax lien for $200 and own a home. It shows how states vary (some you just have a lien, some you have the home), and how tax sales work.
Because real estate and taxes involve big financial implications, I'd still do more research and even find a mentor who is successful in tax lien purchases before getting involved. But for an overall view, this is a good resource.
This book was an eye opener.......2007-09-20
I read The Complete Guide to Real Estate Tax Liens and Foreclosures in one weekend. It is very consice and gets right to the point. It was fun researching some of the suggested sites and actually seeing some of the properties that were listed. I am a detail person, and I would have preferred to get more details on some of the pitfalls that I may face in making these purchases, but Don Sausa does have a unique ability to take a complex subject and simplify it for all readers. I think this is a great book for anyone who needs to know about purchasing tax liens and deeds. There are so many rip-off programs out there and people are paying alot for them. I applaud Mr. Sausa for his consumer friendly book and the website support. It is a great value!
Good starting book.......2007-08-10
I want to give this book a star of 4.5 because I think it is clear and straight to the point about the topics. It helped me understand what kind of investment it is and more importantly, it tells me about the possible risks/problems. There are many books about the same topics and many of them simply address too much about the "easy, simple and safe" side of the investment. The reality is all successful investment takes some research. But this book doesn't seem to be hiding any potential problems and certainly showed me a clearer picture of this type of investment and how to do it. I recommend it for anyone who is interested in this field, especially beginners. Thanks!
Product Description
Purchasing tax lien instruments from city, county, and municipal governments can provide you with very high and secure rates of return, in some cases as high as 12%, 18%, 24%, or even 1,000% or more per year. If performed correctly, investments in tax lien instruments will far outpace stock market performance, even traditional real estate investments. The key is to know how to perform this process correctly. Tax lien certificates and deeds are not purchased through a broker; you purchase these property tax liens directly from the state or county government (depending on the state). This type of investment was created by state law, and state law protects you as the investor. Investing in tax liens and deeds can be very rewarding. Tax liens can be tax deferred or even tax-free. You can purchase them in your self-directed IRA. Interest rates vary but average between 4% and 18%. The interest rates are fixed by local governments, essentially a government-guaranteed loan. Additionally, the investment is secured by real property (real estate). This sounds great, but what is the catch? There really is none, except you must know what you are doing! This groundbreaking and exhaustively researched new book will provide everything you need to know to get you started on generating high-investment returns with low risk, from start to finish. You will learn what property tax liens and tax lien certificates are; how to invest in tax lien certificates; how to buy tax lien certificates; insider secrets to help you double or even triple your investment, how to start with under $1,000; the risks, traps, and pitfalls to avoid; and a detailed directory of states that sell tax lien certificates with contact information. In addition, we spent thousands of hours interviewing, e-mailing, and communicating with hundreds of todays most successful investors. This book is a compilation of their secrets and proven successful ideas. If you are interested in learning hundreds of hints, tricks, and secrets on how to purchase tax liens and deeds and earn enormous profits, then this book is for you.
Customer Reviews:
Doesn't offer much.......2007-08-09
The other reviewers are obviously novices, easily impressed, or are related to the author or publisher. Would you rather read a cook book written by Julia Child or Martha Stewart or one written by me after interviewing Julia & Martha? The author has never bought a tax lien and doesn't pretend that she has, and the book reads that way.
The book is fairly thorough, but gives no real insight or tips experienced by a seasoned investor in tax liens. The book has a very general tone about it throughout. It's obvious the author has never gone near a courthouse or auction. The book is roughly 30-40% filler material. I read this book in one evening. Of all the tax liens books that I've read I would put this one at the bottom of the stack.
The best book on tax liens over the past several years is Profit by Investing in Real Estate Tax Liens by Larry Loftis. The 16% Solution written in 1994 is dated, but would be my second choice. No I'm not related to Mr. Loftis and wouldn't recommend any other book written by him that I've read.
More viable information than any other similar book I have found todate.......2007-06-08
The Complete Guide to Investing in Real Estate Tax Liens & Deeds: How to Earn High Rates of Return - Safely
"By far the most through and comprensive of any book I have found anywhere on this subject of Investing in Tax Liens"! Has enabled me to make a considerable amount over the past few months with very little effort.
Buy this book and avoid the seminars.......2007-04-09
Tax lien investing is interesting. They are touted as a surefire winning ivestments and many "experts" offer training costing thousands of dollars to "train" you on how to invest in these "goldmines". Do yourself a favor, buy this book and avoid the seminars. You are going to learn by experience and this book will help you get started. The seminars are simply going to part you and your money. Tax liens are not as easy as they sound. You cannot simply go down to the courthouse and buy a 25% lien. Most people trying to get you into this game neglect to mention the fact that large companies will flood the market with lowball offers to obtain a majority of the better tax liens.
No nonsense. No hype. No Details.......2007-01-13
From reading the cover you might think this is another get rich quick idea. After reading the book, however, you'll find a hype-free matter of fact approach. All the benefits and pitfalls (at least that I could think of) are covered. I went to a seminar where someone pitched an expensive package of services to help someone who wanted to invest in tax lien certificates. Instead I bought this book. It will answer your questions and help you decide if you want to proceed. What the book does not include are all the little details you'll need to actually execute a purchase. This varies a lot by state and would require the book to double in size. So, if you just want to know about these investments, I recommend this book. If you are ready to invest, you'll need more information.
Good explanation of difficult subject.......2007-01-04
Tax lien and tax deed investing are complicated subjects, made even more complicated by the huge variations in laws from state to state. This book explains the different details with great clarity.
The book opens with general chapters that explain why the differences between tax liens and tax deeds, the things an investor must consider when planning such an investment, and guidelines that will help make the process more comfortable. For example, even an experienced investor may have little experience with auctions, which is the method most governments use to sell tax liens and deeds - "The Complete Guide" has tips on what to bring and do in those situations.
Also in the early chapters, Burrell uses real world examples to help explain points - showing, for example, the forms used to register for an auction in Los Angeles. Later, Burrell discusses subjects like foreclosing (the painful part for those of us without thick skin) and getting financing for a tax lien or tax deed investment.
However, the key parts of the book are the tables (I think there are about 20); Chapter 12, which has a comprehensive breakdown of the different state laws; and the exceptionally comprehensive, 60-page (you read that right!) glossary.
Book Description
Written by an expert with 20 years of experience in commercial site evaluation, The Site Book is a practical book that takes a logical and process-oriented approach to site evaluation. Built around dozens of real-life examples of sites that work, sites that don't - and all the reasons why - this book explores the dynamic and sometimes complex relationship between site features and other factors that will ultimately determine the success of any restaurant or retail location. The Site Book features:
In depth discussion of the major areas affecting a site evaluation including customer sources, usage patterns, demographic reports, day parts, linkages, drop-in features, physical surroundings, image, trade area, growth strategies, competition, and cannibalism.
A step-by-step guide through the site evaluation process using a unique site evaluation worksheet.
Strategies for measuring and weighting the relative importance of each site feature and calculating a final site score.
Practical tips for specific concepts and varying market conditions - such as opening a first destination in a new market, adding a second store, or backfilling in a saturated market.
Strategies for site selection in competitive markets where the best locations are in short supply.
Customer Reviews:
Should be titled Site Book For Retail.......2007-03-11
This is a good, pratical book- although it only focuses on retail development. No mention of office, multifamily, industrial, etc. Still worth it though.
Great Resource.......2007-01-19
This book is a great resource for even the most seasoned real estate professionals. It is refreshing to see a scientific approach to site selection that successfully integrates the art of real estate qualitative analysis.
easy to understand and easy to apply.......2005-07-29
This book analyzes the the factors that go into choosing a good site for a commercial venture.
This alone would have been enough to earn 5 stars. The book goes on to present a system for rating potential sites that uses the factors explained in previous chapters. You can customize the process by changing the importance each factor carries.
A software package is offered for sale that provides templates and performs calculations. However, if you are handy with Excel, you should be able to recreate the template/calculations within a few hours.
This excellent book promises to be a guide to choosing commercial real estate. It delivers, in spades, on that promise.
It's a Roadmap for Site Selection!.......2003-04-04
This book was referred to me by a co-worker (who happened to be an expert in real estate). Thanks!! I only wish I'd stumbled upon it years earlier.
After struggling with a homegrown spreadsheet modeling approach in my first retail business, this book brought together all the missing pieces in a way that made perfect sense. It gave me a framework to account for the qualitative site feature data that is so important, yet so difficult to deal with. It became my roadmap for site selection.
The logical model outlined in this book comes to life through Fenker's humorous examples of tips & traps.
If your business depends on good sites, you must read this book!
Great for everyone.......2002-04-27
This book is great for everyone from the beginner to the seasoned sales forecaster.
I browse it every now and again to remind myself that there are fundamentals to this business, and we know how costly veering from those can be.
It's a fast read, and I highly recommend it to those doing site selection.
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
Download Description
A one-stop reference for in-depth explanations of mortgage topics
With the creation of so many new, complex mortgage programs, its 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...'
Customer Reviews:
It is "fair" to "good", augments vocabulary that is unknown........2007-07-30
Been of the non-real estate profession, it has enlightened my reading arsenal, well at least I hope so. Also, I'd like to thank you for not having any problems during delivery. Once again thanks. Hubert M.
Wealth of info!.......2007-07-27
Wow, what a book!! Tons of info!! Highly recommend to anyone shopping for a mortgage.
It depends on context........2007-05-22
If you are in the industry, great reference book.
However, if you are a first time buyer, this book has a lot of technical terms within the definitions! So technical, it can make you head spin!
excellent reference.......2007-02-06
This as an almost indispensible tool for anyone involved in real estate transactions. If you own a home, or you're planning to buy one, you will want to have this book as a guide to the myriad types of loans available, and the dizzying amount of real estate terms that are used. All of it is explained in plain English. It can be used by real estate professionals and laymen alike.
I find this book also useful for notary signing agents. Although we're not required (or supposed) to discuss the loan terms with the borrower at the closing, it still helps to know what all of these terms mean.
What I like about the book is the organization. All of the topics are in alphabetical order, making it easy to find the information you need quickly. There are many cross references and references to web sites. And unlike an ordinary encyclopedia, there are opinions from the author. If you've read his articles or visited his website, then you're already familiar with the wisdom he shares with his readers.
This is one encyclopedia you'll want to read from A to Z.
BEST BOOK FOR MORTGAGE PROS.......2007-02-06
This is a great little book. We have a few copies at my office for all my employees to refer to when they can't get online. Love it.
Book Description
Find the sound investments among the foreclosures. Covering both bank-owned and government-owned properties, this book focuses on helping buyers distinguish between good foreclosure investments and those plagued with liens and other pitfalls. Readers will learn about the benefits of buying foreclosures; foreclosure timeline and process; the different types of foreclosures; finding pre- foreclosed properties; important pre-purchase pitfalls; buying at an auction; and more.
• The national residential foreclosure rate rose to from 1 to 1.23% (of all mortgages) by the end of 2003—the biggest jump in 30 years
• Foreclosures are expected to increase as interest rates rise and monthly payments on short-term variable rate and interest-only loans begin to follow (Realty Times)
Customer Reviews:
CID Guide to Buying Foreclosures.......2007-05-06
Sunday, May 6, 2007
For a newbie, this is an excellent introduction. It shows you the way to proceed, if you're serious about trying. For the price, it is a bargin and should be kept as a reference. If you're like me, a yellow lighter can be quite helpfull. Well worth the price when you consider the large sums of money that can be involved.
Very Insightful.......2007-03-10
This is a very informative book. It doesn't mess around with a lot of fluff. I highly recomend it!
Provides solid information worthy of the Complete Idiot Guide series.......2007-01-22
I've always enjoyed the Complete Idiot Guide series. Why? Because it delivers the message down to earth. It takes highly complexed legal matters and shows you step by step on how to invest in foreclosures. If you want to make money in foreclosures or have wanted to invest in them, you need to read this book.
Matt
Illustrator for the Ultimate Foreclosure Kit (ISBN 0978834658)
READ ME FIRST - A comical and resourceful guide.......2006-11-13
This is a comical and resourceful guide to foreclosures, offering an easy to read handbook on how to invest in govt or bank foreclosed properties. Other titles that helped me about foreclosures -- Investing With out Losing: The Beginner's Guide to Real Estate Tax Lien and Tax Deed Auctions
Provides good information for getting started.......2006-11-07
Provides a large amount of information in a concise but easy-to-read format. Considering all of the nuances of buying foreclosures, from the legal considerations to the occupation stage, the author does a good job of capturing and conveying the essentials. The author also does a good job of communicating both public and private foreclosure opportunities, which is important in many states.
The author focuses primarily on 'investing in foreclosures' vs. 'buying a foreclosure for your primary residence.' Consider this when comparing to other books.
Could have used more specific information on where to look for foreclosure opportunities, but the book does mention that actively searching and networking is a key to the game.
Overall, a good, easy read with valuable information for anyone wishing to enhance their real estate expertise.
Book Description
One of America's leading consumer advocates and popular talk show hosts offers his tips and tricks to successfully buying and selling real estate -- in any marketReal estate -- whether in a boom or a bust economy -- is still a good investment, but only if you make smart and patient choices. There is a lot of confusing information out there, and many people find it increasingly difficult to navigate the ever-changing world of real estate without losing their shirts, or their minds. In Clark Smart Real Estate, talk show host and bestselling author Clark Howard presents the best of his experience as a consumer advocate. In his simple and clear style, he shows readers how they can build wealth slowly over time through real estate, and how they can capitalize on -- and protect themselves from -- the real estate market's many fluctuations over the long term.Following his own "save more, spend less, and avoid ripoffs," philosophy, Howard encourages people to get "Clark Smart" and lays out practical and information-packed answers to common questions anyone interested in real estate might have about buying, selling, or financing. When should you buy your first home? Is it better to purchase a preexisting house or one newly built? What are some hidden closing costs, and how can you avoid them? Should you sell your home yourself? How does one shop for a mortgage? What are the costs of refinancing?Sound advice in a handy format -- this is what Clark Howard's readers have been waiting for, and it's just in time to help the multitudes flummoxed by today's conflicting real estate market.
Customer Reviews:
Pass On This One.......2007-07-30
After looking through this guy's book in the store, I learned that he has a series of books. This guy just feels like a Used Car Salesman. I wouldn't want to get caught reading this book. I just couldn't get over the cover and I couldn't take this guy seriously. Pass on this one, and check out Bubble Proof: Real Estate Strategies that Work in any Market or 2 Years to a Million in Real Estate.
Very helpful book.......2007-07-20
I found that this book offers clear and concise tips for many areas pertaining to real estate. We are considering selling our home and I have gained some great pointers that I would not have thought of on my own. This book has the same "Clark-smartness" that comes across on his radio show and other books. Highly recommend.
Sound, practical advice on Real Estate.......2007-04-10
I appreciated the common sense put together with extensive knowledge and experience in the field of real estate.
Amazon.com
Real estate is as much about people as it is about property, and, after location, success in real estate depends upon understanding the motives of those who play the game, because many critical decisions revolve around what real estate people think, how they act and why. The Real Estate Game, by William J. Poorvu and Jeffrey L. Cruikshank, is a clear, comprehensive overview illustrated with real-life experiences about individual investors, small developers, and moguls. Poorvu has developed and managed real estate and taught real estate investing at the Harvard Business School for over 35 years. This book is drawn from his course, and is designed to help investors make the right decisions derived from the right assumptions and to provide an insider's perspective on how to spot risks and develop strategies that provide protection and adequate investment returns.
The book uses the analogy of a game to illustrate some of the intricate and unpredictable interactions in real estate deals, and it lays out the rules of the game, including identification of the key players and periods of play: concept, commitment, development, operation, reward, and reinvestment. Readers are taught to be "value investors," ready to buy at the right price at the right time, because the best opportunities come from buying at a discount-to-replacement cost. The value investor must be prepared to sell at the right juncture, and must not be compelled to be in the game when conditions make the game not worth playing.
The case studies that run through the book show how to evaluate, develop, and operate all kinds of real estate investments from the points of view of all involved in the process. There's an extensive appendix covering the different property types, and the authors' "back-of-the-envelope" method for analyzing the financial implications of a potential deal is probably worth the book's weight in gold. --Scott Harrison
Book Description
The Real Estate Game is a comprehensive guide to successful real estate investment from one of the masters in the field. Drawing upon four decades of experience developing, owning, and managing properties and on almost thirty years of teaching at the Harvard Business School, William J. Poorvu offers an insider's perspective on how to make smart decisions about real estate.
The real estate "game" is played by people, and it's the stories of real people that make Poorvu's introduction to the industry colorful and interesting. The reader meets players ranging from real estate moguls to small-scale developers to individual investors in exotic investment instruments. Their stories evolve throughout the book and illustrate how these people -- with all their complicated needs, talents, and motives -- fit into the larger process and context.
In clear and nontechnical language, Poorvu explains how variables -- players, properties, capital markets, and the external environment -- come together to influence the shape and outcome of a real estate deal. He explains the time frame for different kinds of real estate investments and walks the reader through the key "periods of play" in the real estate game: concept, commitment, development, operation, reward, and reinvestment.
The Real Estate Game introduces a simple but powerful "back-of-the-envelope" technique for analyzing the financial implications of a potential deal. Using this tool and others, Poorvu shows readers how to use direct investments, syndicates, and REITs to get into the real estate game across a broad range of property types: residential, office, hotel, industrial, and retail.
Offering unique insight into the ways that developers and investors can create value, The Real Estate Game is both a perfect introduction for the novice and an invaluable overview for the experienced professional.
Customer Reviews:
Great read for serious investors.......2007-09-01
Mr. Poorvu's book does an excellent job of teaching investors how to analyze real estate deals. It reads a bit like a text book but serious investors will appreciate the intelligence and depth of the content.
Great for deepening understanding of subject..........2007-03-12
I found this book extrememly valuable in deepening my understanding of the subject and providing perspective for me to carry my understanding further on my own by looking at market information and events.
Useful for beginner to intermediate level real estate interested people.
Not a get rich quick scheme.......2006-03-15
William Poorvu teaches at the Harvard Business School and also invests and develops on his own. He uses case studies to show examples of the techniques and rules he uses when investing which is how MBA's are taught. Overall its some great real world advice with no promises of making you a millionaire overnight.
Best of the RE Investment Books!.......2003-12-18
The vast majority of real estate investment books to be found in the Barnes & Noble investment section offer variations of Mark Twain's stock market advice: "making money in stocks is easy. Only buy a stock if it goes up; if it doesn't go up, don't buy it." By contrast, Poorvu walks readers through myriad real estate investment situations, fleshing out the risks and rewards, and the mindsets of the various players. While written in an anecdotal style replete with real-life examples, the book also presents an encyclopedic overview of investment opportunities (direct, REIT, syndicates, etc.) and asset categories (residential, commercial, industrial, etc.). This is a real estate investment book written by an adult, for adults -- in contrast to all the other get-rich-quick-no-money-down titles targeting gullible novices.
A Sophisticated Yet Interesting Real Estate book.......2003-02-10
Harvard Business School Professor and real estate investor William Poorvu has written a book about real estate is far above most real estate books. This book is nowhere near the run of the mill generic real estate book that tries to tell everything about real estate to people who don't have a clue. "The Real Estate Game" is a sophisticated commercial real estate book written by a real estate insider. This is not a book about buying your first house with no down payment.
What this is, is a book about commercial real estate projects from concept, commitment, development, operations, and harvest. The authors bring a behind the scenes and insiders' approach to commercial development. He lays it out in the form of a game with properties, capital markets, players and external environment. One of the stories in the book is that of Bill Zeckendorf's classic assemblage of Swift slaughterhouses into the United Nations property and vicinity. Included in the book is the authors' commercial due diligence checklist. This book would be most interesting to a person involved in commercial real estate, someone interested in commercial real estate or someone interested in the business of commercial real estate. I think that this is the kind of book that you can refer back to time and time again. There is a lot of information in this book and it may even be a book that you will want to read more than once. It has a depth, and quality of information contained far superior to the average mass media real estate book without the dryness of a real estate textbook
Book Description
Fix and flip single-family houses for quick profit--and long-term prosperity
The Complete Guide to Flipping Properties offers proven, straightforward guidance for anyone interested in flipping properties for quick profits. This comprehensive guide to flipping will help any real estate investor design a detailed plan for achieving their financial goals as quickly as possible. Steve Berges, creator of the value play strategy, shows you step by step how to flip properties and lock in profits. With in-depth explanations of every aspect of the art of flipping--from finding properties and closing the deal, to repairing houses and reselling at the best price--this book is the ultimate resource for novice investors and real estate pros alike.
The Complete Guide to Flipping Properties includes:
- Time-tested strategies for flipping
- Ten proven methods for locating great properties
- Property valuation methods--and which one is right for you
- Financial analysis and modeling techniques
- How to create value and maximize your profits
- Seven steps of successful negotiation
- How to close the deal
- Foolproof exit strategies for getting rid of properties
- How to assemble a winning team of professionals
- Three keys to maximizing your potential as a real estate investor
With tips on writing business plans, investing on credit or with OPM (other people's money), and creative financing methods, The Complete Guide to Flipping Properties gives any investor the tools they need to build wealth safely and reliably.
Customer Reviews:
Disapointed.......2007-08-02
I think it's too vague and incomplete for a newbie or anyone to get started after reading this book.
New Investors.......2006-08-26
We are new investors and this book has filled in all the gaps. Excellent for anyone in our position. Gives a full rounded view and flipping real estate. Thank you!!
For the beginner in real estate.......2006-07-09
I enjoyed reading the book. It's a good beginning book for someone who knows nothing about the real estate industry. It was well paced and did not ramble into other segments of real estate. It was unclear to me whether the models in the book were pricing labor AND materials, or just materials. The more help the beginner gets, the happier everyone is. Perhaps some consideration could be given to helping beginners with contractor issues? Contractors are very reliable, but so many people fail to realize the contractor may have many clients, or that contractors function best when given COMPLETE sets of wants and desires. Thanks for writing the book. It definitely addresses many issues for the uninformed.
Gerat.......2006-03-24
This book is the best book that I found about forclosed houses. It is well worded and it feels like he is sitting down talking to you rather then being at a boring seminar.
guide to flipping.......2006-02-27
Excellent book very easy read,very informative, would recommend this book. I purchased other books on the same topic but this was by far the best
Books:
- The Pre-Foreclosure Real Estate Handbook: Insider Secrets to Locating and Purchasing Pre-Foreclosed Properties in Any Market
- The Wealthy Writer: How to Earn a Six-Figure Income As a Freelance Writer (No Kidding!)
- Tools and Tactics for the Master DayTrader: Battle-Tested Techniques for Day, Swing, and Position Traders
- Ugly Americans: The True Story of the Ivy League Cowboys Who Raided the Asian Markets for Millions
- West Federal Taxation 2007: Individual Income Taxes, Volume 1, Professional Edition (West Federal Taxation Individual Income Taxes)
- Working for Yourself: Law & Taxes for Independent Contractors, Freelancers & Consultants (6th Edition)
- 10 Secrets to Successful Home Buying and Selling: Using Your Housing Psychology to Make Smarter Decisions
- 10 Secrets to Successful Home Buying and Selling: Using Your Housing Psychology to Make Smarter Decisions
- 21 Things I Wish My Broker Had Told Me: Practical Advice for New Real Estate Professionals.
- Africa in Chaos: A Comparative History
Books Index
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