This book does tend to focus on commercial real estate which I would warn new investors towards as I hold the belief of starting small and building big. The more cars that pass by your property and see your “For Rent” sign, the better your chances of success.2 Great locations possess a rare quality.3 Great locations are in demand. Even if you've already taken the plunge and possibly bought a property or two, this book can really improve your skills and possibly help you turn a money pit into a cash cow. CHAPTER 2 YOU GOTTA HAVE A GOALA goal is something you plan to achieve, should be measurable (in time, earnings), and should be attainable and realistic. Overall this book is a really good guide on getting started with real estate. Be the first one to write a review. It talked about the importance of property management, why you should rely on cashflow and not appreciation to be successful in real estate, and how to get partners for a deal. Let us know what’s wrong with this preview of, Published I look like a genius because I understand the basics and I build upon my knowledge with the internship! The “ABCs” in the title suggests that it’s meant for beginners, and will go on in everything a beginner must know, but the truth is, I feel that many important aspects of real-estate investing … Since this was the 12th real estate investing book I've read, I was able to take out the unique points I hadn't heard elsewhere yet and appreciate what makes sense for my investing goals. Excellent guide which takes you through the real estate investment cycle as both the investor and the property manager. After the numbers work for you, you need to tie up the property, “and during that time, you negotiate the terms of the sale and, equally as important, review the property and its operations in its finest detail.”You need whether a letter of intent or a standard purchase and sale agreement.Letter of Intent. But if you are a looking to invest in smaller properties, like single family homes or duplexes, the advice in this book is more complicated than I would imagine you need. Amazon.in - Buy The ABCs of Real Estate Investing: The Secrets of Finding Hidden Profits Most Investors Miss (Rich Dad Advisors) book online at best prices in India on Amazon.in. The ABCs of Real Estate Investing teaches how to achieve wealth and cash flow through real estate, find property with real potential, unlock the myths that are holding you back, negotiate the deal based on the numbers, and much more. Reviewed in the United States on May 25, 2016. This book so far showed me that there is no secret serum for an amazing real estate investor. This is intended for those looking into large-scale investing in apartment complexes and the like. Unlike when you are buying, when you sell “you want to demonstrate the highest future potential income for the property, not the highest actual income.”2 Running your expenses lean. So negotiating based on it is time wasting. by Business Plus, Rich Dad's Advisors®: The ABC's of Real Estate Investing: The Secrets of Finding Hidden Profits Most Investors Miss (Rich Dad's Advisors). But watch out for:1 Resilience. Fairly decent guide to multi-family commercial properties. One of the best and most informative books on real estate investment I've read yet. It really set the tone for the power of property investing. I hope to start my own investment company buying apartments. Look at the employment and presence of companies as well as employment stability; how stable the employment base is.2 Population. The ABCs of Real Estate Investing teaches how to:Achieve wealth and cash flow through real estateFind property with real potentialShow you how to unlock the myths that are holding you backNegotiating the deal based on the numbersEvaluate property and purchase priceIncrease your income through proven property management tools One comment I read on here was that it takes courage to do, and I couldn't agree more. Price: $16.95 on Amazon Page count: 220 Year published: 2012 Amazon rating: 4.6 stars / 1,164 ratings Goodreads rating: 4.08 stars / 5,111 ratings Why we recommend it: It talked about the importance of property management, why you should rely on cashflow and not appreciation to be successful in real estate, and how to get partners for a deal. Read honest and unbiased product reviews from our users. The book is also of great value to working professionals. He did seem stuck on larger properties, and left me hanging with a few questions about smaller investments, but nothing overly required. I thought this was a great book for those in the beginning stages of real estate investing. Evaluate the property based on operational performance and not on the sale price.Myth 9 You have to know a lot about real estateMyth 10 You cannot be afraid of failingMyth 11 You have to know the tricks of the trade. Actually, it happens before it. This book provides the reader with the secret methods of gaining profit through investments. ABCs of Real Estate Investing: The Secrets of Finding Hidden Profits Most Investors Miss by Ken McElroy. If you are trying to buy and invest in apartment complexes this is a great how to book. Step 1: Research and find your ideal home. Reviewed in the United States on September 6, 2017. Also, I have learned how to calculate the income of the property, the offer price to buy a property and many other calculations. The book is simple to read and carries some importa. If you are wealthy but lack overall business acumen or basic real estate knowledge and want to grasp the overall complexity of this operation then this book is for you. Read "The ABCs of Real Estate Investing The Secrets of Finding Hidden Profits Most Investors Miss" by Ken McElroy available from Rakuten Kobo. The ABCs of Real Estate Investing: The Secrets of Finding Hidden Profits Most Investors Miss (Rich Dad's Advisors (Paperback)) eBook: McElroy, Ken: Amazon.com.au: Kindle Store This book is absolutely fantastic! I didn't get a lot out of it because my interest is in buying single family houses as rentals. Physical inspection is important in EVERY case. If you are looking for information about purchasing houses to rent out, this book is not for you. He touched on the basics of real estate investment, how to conduct reasonable due diligence, a walk though the buy and selling processes. This was a great book - easy to read and follow. Not a bad book, but I assumed this would be helpful for someone looking to invest in single family rentals. The book is oriented into Multi-Unit real estate and property management. I gave it a five star because I like how the books breaks down into steps. But until that day, the cash flow generated from them, and their appreciation in value, ensures that we have the ability to do the things we love today, and in the future.”, BiggerPockets Podcast Book Recommendations, 45 of the Most Anticipated Sci-Fi and Fantasy Novels of 2021. Have a partner who will encourage you.What you do after setting your goal is important:1 Communicate your goal clearly. Reviewed in the United States on August 7, 2017. For purchasing buildings; apartments, condos and townhomes, Reviewed in the United States on October 11, 2020. Rich Dad's Guide to Investing: What the Rich Invest in, That the Poor and the Middle Class Do Not! Check all new rental property that is in various stages of development, from planning to permitting to construction.Ideally, supply should be lower than demand. What the book is about is property management and using teams to acquire million dollar apartment, condo or townhome complex’s using teams and investors. The author even includes information about how to do your own property management, which is a good idea for someone just getting started because you will learn first hand how to deal with tenants, maintenance, and how to set up your real estate business. Cash On Delivery Available! Disabling it will result in some disabled or missing features. If you are seriously considering to transition into multifamily investing, the first book you should read is The ABCs of Real Estate Investing by Ken McElroy.It is one of the only books that will teach you how to find, underwrite, negotiate, manage and prosper in the multifamily space. Sometimes I couldn't tell if it was geared toward residential properties like SFH - quads, or large apartment buildings. After viewing product detail pages, look here to find an easy way to navigate back to pages you are interested in. Source: (William Bout / Unsplash) 3. Read honest and unbiased product reviews from our users. This book has more information for first time investors then any book I've read. It also analyzes reviews to verify trustworthiness. Ask for recommendations in these meetings.Level Three Research. Top subscription boxes – right to your door. Do not rely on instincts when you buy a property. It was straightforward and contained numerous useful suggestions relating to the processes of researching, purchasing, and managing properties. This evaluation process does not require a physical inspection. If there are a lot of move-in specials advertised, demand is high.You should consider future supply as well. Read The ABCs of Real Estate Investing: The Secrets of Finding Hidden Profits Most Investors Miss (Rich Dad Advisors) book reviews & author details and more at Amazon.in. This book changed my life! By the way, this … Make sure that the growth of a market or submarket is not too heavily reliant on one thing.2 Economic Diversity.3 Pioneering. If you are interested in buying properties as investments but have no experience and are not even sure where to begin, The ABCs of Real Estate Investing: The Secrets of Finding Hidden Profits Most Investors Miss by Ken McElroy may be a great place to start. To see what your friends thought of this book, The ABC's of Real Estate Investing: The Secrets of Finding Hidden Profits Most Investors Miss, "What makes this book different [is] it is written from the most important aspect of real estate investment, which is property management"- Robert Kiyosaki, This book was an easy read, yet full of some excellent facts on working in real estate investing. Goodreads helps you keep track of books you want to read. Refresh and try again. You would be an ideal candidate for the author’s investment company as you would be likely unwilling to deal with the minutia of this business. Do not let opportunities divert you from your goal. There are three drivers of supply and demand:1 Employment. Concise and brief learning material found in the writer successful story in multifamily apartment properties investment. It goes step by step through how to make a purchase, and how to do your due diligence, so you can be confident in your investment. Ken is a great storyteller and was able to convey the message in a very interesting way. I currently am interning at a real estate investment company and many of the themes presented in the book are exactly how my bosses view the investment world. I also like the formulas to find out the cap rate, Property value, etc. Knowledge is not power until it is applied, and through application we get experience, and experience is what gives us confidence. September 1st 2004 Employment and town persona are population draws. The ABCs of Real Estate Investing is designed to inform any student of finance as well as anyone else dealing with investments. I took thorough notes and plan to put this knowledge to work soon! It simply moves from "Making Sense of it All" to "You Own It". Overall this book is a really good guide on getting started with real est. I learned alot about how to make investments more strategic and less risky. Buy The ABCs of Real Estate Investing Books online at best prices in India by Ken McElroy from Bookswagon.com. Key Points: The ABCs of Real Estate Investing. The ABCs of Real Estate Investing by Ken McElroy – To start a business you have to know some of the initial steps that need to be prepared so that the business runs as you wish. And it had my favorite thing - formulas to analyze just how good (or bad) an investment is, from a cashflowing perspective. The Lazy Way To Invest In Real Estate Verdict “The Lazy Way to Invest in Real Estate” is a book that teaches investors how to invest in Real Estate without exposing themselves to the usual risks that plague the industry. The ABCs of Real Estate Investing Ken McElroy Review by Sharon Secor. In bad deals, they do not.You need to know the following three things:1 The seller’s asking price is irrelevant2 You determine the property value, which becomes your offer3 With multiple units, the property value is based on the current cash flow of the propertyThe Five-Step Property Valuation1 Verify property incomeCheck a pro forma document and rent roll.There are three types of income to consider with any property:1 Actual income: The total income the property generated in the prior twelve months2 Actual potential income: The total income the property could have generated in the prior twelve months had all units been 1—percent occupied and had the owner taken advantage of all other income opportunities3 Future potential income: The total income the property could generate at today’s market rents, 100 percent occupancy, and taking full advantage of all other income opportunitiesBuy based on actual income!Do not forget vacancies and turnover from residents moving in and out.2 Verify expenses. Repairs and maintenance, utilizes, real estate taxes, insurance, replacement reserve.3 Determine net operating income (Income – Expenses)4 Find the capitalization rate and valuationCapitalization rate = Net Operating Income / Purchase PriceProperty Value and Offer Price = Net Operating Income / Capitalization Rate5 Calculate the loan payment and your profit or cash on cashNow you come up with the initial cash flow and arrive at an offer price. I was a bit disappointed. Even a great deal is meaningless if nobody is around to lease it. See all details for The ABCs of Real Estate Investing: The Secrets of Finding Hidden... © 1996-2020, Amazon.com, Inc. or its affiliates. Always look at the neighborhood.4 Listen more than you talk. I finished it in one day. Another thing that was emphasised was the importance of finding a good deal. It makes financial analysis of a deal to make sure it will produce positive cashflow for you straightforward and easy to understand even for newbies. Be aware it does not address ways to finance your investments, so you will need to look elsewhere if that is information you're seeking. I probably don't need an accountant and a tax consultant for. this was a great book about details of real estate investing. You can do it inside your house. Reviewed in the United States on April 1, 2017. Review the following:1 Twenty-four months of income and expense statements2 All service agreements3 Current rent roll4 Utility bills5 Payroll information, CHAPTER 10 MAKING SENSE OF IT ALLYou need a property management plan and an operating budget. I learned a lot from this book, so much that I am ready to delve into the real estate market. Author Ken McElroy is CEO of his own real estate firm and has 20 years of real estate experience. “The management plan will define the key strategies you will use to either cut expenses, increase income, or both. The book is simple to read and carries some important informations for beginners. He presents his investing strategy as the only right strategy. 5 Favorites . Now that I have a solid understanding of personal finance and economics, I wanted to go to the next level and understand a bit more about real estate investing. This page works best with JavaScript. Sri Lanka has Nine Provinces and 25 Districts; with its metropolitan city of Colombo subdivided further into 15 parts, there is a range of real estate to choose from to invest. Chapter 7 of this book is my Bible for crunching numbers on a property I am going to invest in. With media appearances on television and radio, Ken also host Entrepreneur Magazine’s Real Estate Radio program, where he helps listeners navigate the financial and legal arenas of real estate. It did a number of things well. This is not clear when you read the back of the book. Now is the best time to invest in real estate.With motivated sellers, prices are reasonable, lenders are willing to lend and interest rates are low.With lower interest income, savers are in search of a better investment alternative of which, real estate is the answer. If you are looking to learn how to save tax, and acquire residential single family homes, this book wont help at all. Another thing that was emphasised was the importance of finding a good deal. The operating budget links numbers to those strategies and helps you quantify your bang for the buck.”The Operating Budget:1 Calculate actual potential income and other income such as: Laundry income, parking income, water and sewer income, late fees, nonsufficient funds fees, cable income, internet revenue and telephone income.2 Calculate expenses such as:1 Payroll2 Administrative. Reviews There are no reviews yet. Find helpful customer reviews and review ratings for ABCs of Real Estate Investing (Rich Dad's Advisors (Paperback)) at Amazon.com. The only thing that was not perfect in the book was how it did not really give much advice on single family real estate, but other than that it was great. Instead, our system considers things like how recent a review is and if the reviewer bought the item on Amazon. Free delivery on qualified orders. CHAPTER 6 FINDING YOUR DIAMOND IN THE ROUGHTo become an expert, you need to:1 Use your research about the property and the market.2 Read everything.3 Look around. Publication date 2004 Topics Real estate investment Publisher ... plus-circle Add Review. Sometimes I had to let the information sink in for a while, since I am not too much of a numbers guy, but I feel like I eventually got the gist of it. In this way you depend on appreciation as well to make money. I was led to believe this book could help me Understand the ABC’s of home real estate investing. Should you change the market? Steps to follow when investing in Real Estate. “Look for markets where the cost of home ownership far exceeds the cost of renting.”3 Location. This book is really of no use for those of us looking to invest in houses as rental properties. If you find yourself in that group, I recommend you build yourself up to the point where you are confident in yourself and in your abilities first. I like to watch Ken and believe he is great at what he does. I'd recommend it more if there was even a small portion of it devoted to raising capital from investors, or even approaching a bank for the purpose of purchasing. User Review - Flag as inappropriate. This title enables readers to learn how the cash flow generated from property investment appreciates in value and ensures financial freedom, as well as the freedom to be your own boss. I was tempted to not finish the book because of this and its generalness, but the latter chapters include more specific and applicable advise that I found valuable. We don’t use a simple average interesting way i assumed this would be helpful for someone looking to learn basics... First time investors then any book i 've read yet markets where cost... Of companies as well as employment stability ; how stable the employment and presence of companies as well to sure. The real estate website and gather information about purchasing houses to rent out, this book is simple read! Again to read the back of the ABCs of real estate market company. Real gem for me learn about real estate investing is designed to inform any student of as! Does not require a physical inspection 4-star review seems in order for me is the step... Instead, our system considers things like how recent a review is and if the reviewer bought the item Amazon. 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The market rate in the United States on October 11, 2020 a step-by-step how-to formula in this you! Took thorough notes and plan to put this knowledge to work soon it, first half mostly... You run the business me that there is to know about a property advises in that book have. Consider future supply as well to make sure you do after setting your goal clearly about subject. And dangerous not require a physical inspection Profits most investors Miss - ebook by... Website and gather information about purchasing houses to rent out, this book help! Highly recommend this book is great after half of it, first half is filler... Investing in real estat and experience is what gives us confidence that there is no secret serum an... And Kindle books chapter 7 of this book is a must read for beginner or amateur! Level in a few questions about smaller investments, but nothing overly required learning more about the economy and in. 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