I didn't get a lot out of it because my interest is in buying single family houses as rentals. Instead, our system considers things like how recent a review is and if the reviewer bought the item on Amazon. I know I will still make mistakes, but this book has gotten me started and given me some foundation. Reviewed in the United States on September 6, 2017. Fairly decent guide to multi-family commercial properties. We all have to go through this stage. Actually, it happens before it. 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. How to guide to buying and selling real estate. High occupancy means great demand and vice versa.2 Prevalence of move-in incentives and specials. 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. Buy The ABCs of Real Estate Investing Books online at best prices in India by Ken McElroy from Bookswagon.com. The book is simple to read and carries some importa. To calculate the overall star rating and percentage breakdown by star, we don’t use a simple average. 1. Find helpful customer reviews and review ratings for ABCs of Real Estate Investing (Rich Dad's Advisors (Paperback)) at Amazon.com. Source: (William Bout / Unsplash) 3. “Being too far out on the fore front of things can be expensive and dangerous. I would recommend this book before starting multifamily apartment complex real estate investment, 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. 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. Have a partner who will encourage you.What you do after setting your goal is important:1 Communicate your goal clearly. Cash On Delivery Available! I wonder what he would say to the millionaires who made their money by using other real estate investment strategies. Just a moment while we sign you in to your Goodreads account. 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. CHAPTER 5 SWAMPLAND FOR SALEAn important lesson from the poor people who have purchased swampland is that “the market is more important than the property.” You should evaluate your market and submarket. Rich Dad's Guide to Investing: What the Rich Invest in, That the Poor and the Middle Class Do Not! This book is great after half of it, first half is mostly filler. Your recently viewed items and featured recommendations, Select the department you want to search in. 565 Previews . 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. Worse yet, most of the examples used are 100+ unit buildings! A champion and advocate for entrepreneurs and real estate investors, Ken has spoken worldwide at top industry events. If you are looking for information about purchasing houses to rent out, this book is not for you. One comment I read on here was that it takes courage to do, and I couldn't agree more. This evaluation process does not require a physical inspection. It was very specific on what to do, and what not to do when investing in multi-family real estate. Everything from how to find good deals to how to analyze them and. Not very practical for the newbie. With the advises in that book I have learned a lot about property management and the things a property manager is responsible of. It was the right amount of information to get a quick read over a long plane flight and lead me in the right direction. After viewing product detail pages, look here to find an easy way to navigate back to pages you are interested in. Like learning the basics from Bruce Lee. CHAPTER 7 IS IT REALLY A DIAMOND?In good deals the numbers work. In this book summary of The ABCs of Real Estate Investing by Ken McElroy, you’ll find my notes, valuable lessons, and important action steps.. The ABCs of Real Estate Investing: The Secrets of Finding Hidden Profits Most Investors Miss (Rich Dad's Advisors (Paperback)). The real gem for me is the Five Step Property Evaluation process. 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. I thought this was a great book for those in the beginning stages of real estate investing. Also, I have learned how to calculate the income of the property, the offer price to buy a property and many other calculations. 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. 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. 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. Cheers. Now it's time to apply the knowledge. The ABCs of Real Estate Investing: The Secrets of Finding Hidden Profits Most Investors Miss (Rich Dad's Advisors (Paperback)) 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. He touched on the basics of real estate investment, how to conduct reasonable due diligence, a walk though the buy and selling processes. ABCs of Real Estate Investing: The Secrets of Finding Hidden Profits Most Investors Miss (Rich Dad Advisors) | McElroy, Ken | ISBN: 8601400316955 | Kostenloser Versand für alle Bücher mit Versand und Verkauf duch Amazon. I recommend this book to anyone interested in real estate investing. This was a good book, but unfortunately misleading to me. One of the best. You can do it inside your house. Fees paid for professional services (an attorney and accountant).3 Marketing and advertising4 Management costs5 Repair and maintenance costs6 Property taxes7 Insurance8 Utilities9 Capital repairs, CHAPTER 11 You Own it… Now What?Property manager should do the following:1 Solving problems daily2 Handling staffing issues3 Leasing the property4 Increasing the cash flow5 Legal and contracts6 Maintenance7 Rent collection8 Paying the bills9 Managing the budget10 Evictions11 Customer serviceIf you want to hire a property management company, ask them about the following:1 Property management fees2 Time in business3 Accounting software and capabilities4 References5 Policies and procedures6 Professional affiliations and associations7 Training programs8 Real estate licenses9 Legal and background checks10 Vendor negotiations11 EmployeesWhen to fire your property manager:1 When the property does not perform well as anticipated2 When the property does not improve its operations year to year3 When the property really outperforms expectations because management is easy and a management company is not neededMistakes you should avoid:1 Renting to the wrong person2 Not taking care of your current residents3 Not budgeting for the unexpected, CHAPTER 12 To Sell or Not to SellWhen you want to sell your property, you need to:1 Maximize your future potential income. I also like the formulas to find out the cap rate, Property value, etc. 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. ABCs of Real Estate Investing : The Secrets of Finding Hidden Profits Most Investors Miss, Paperback by McElroy, Ken, ISBN 1937832031, ISBN-13 9781937832032, Like New Used, Free P&P in the UK Outlines how to achieve financial independence and successful self-employment through property investment, discussing such topics as screening potential partners, utilizing research tools, and setting … Another thing that was emphasised was the importance of finding a good deal. McElroy has an arrogant writing style and self-centered content, which makes this book hard to read. 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. Employment and town persona are population draws. Highly recommend this read for beginner or even amateur investors! 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. The major thing that the book did was provide a comprehensive amount of detail for multi-family investments. The book is simple to read and carries some important informations for beginners. It will walk you though the entire process of considering, evaluating, writing offer, and managing. Download for offline reading, highlight, bookmark or take notes while you read The ABCs of Real Estate Investing: The Secrets of Finding Hidden Profits Most Investors Miss. Your team members are:1 Attorney2 Accountant3 Real estate broker4 Property manager5 Lender or mortgage broker6 Investors7 Contractor/Rehab specialist8 Appraiser9 Architect10 Insurance agent11 Property tax consultant12 Income tax consultant13 Estate planner14 Environmental company/industrial hygienist15 Surveyor16 Structural engineer. this was a great book about details of real estate investing. Let us know what’s wrong with this preview of, Published Great book if you are interested in learning more about the subject. 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. The ABCs of Real Estate Investing: The Secrets of Finding Hidden Profits Most Investors Miss is a rather quick read at just over 200 pages, but it does well to give you the basics in an easy to understand manner and prepare you to get started building your wealth with this kind of investment. Read this book using Google Play Books app on your PC, android, iOS devices. CHAPTER 4 RESEARCH CAN BE FUN?Level One Research. User Review - Flag as inappropriate. 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. September 1st 2004 Another thing that was emphasised was the importance of finding a good deal. Six days a month, a wide range of people troop to the Asian Institute of Management Conference Center to attend a lecture series on real estate investment. “This is where you communicate all the specifics of the sale, in other words you list exactly what each party is going to do to complete the deal.” Do not forget the statement: “All units must be rent-ready at close of escrow.”, CHAPTER 9 DUE DILIGENCE: THE EASTER EGG HUNTDuring the due diligence phase:You need to conscientiously review every document pertaining to property operations.You need to perform thorough walk-throughs of every apartment unit.You need to pay careful attention to every detail.You need to be thoughtful about how you can improve the property and cut expenses.You need to be attentive to the tasks and deliver them on time.You need to be meticulous in your evaluation and reporting.It is the time when you make detailed assessments of actual costs for property improvements, ongoing maintenance, and operations.The Due Diligence Checklist1 The File Audit2 The Interior Inspection3 Government Agency Reviews4 Service Agreement Review5 Exterior InspectionYou also need to check the books and records, obtaining information for your operating budget by categorizing the income and expenses. Ken is a great storyteller and was able to convey the message in a very interesting way. I am most definitely adding this book to my library of learning. Hence the name, this was a great intro for real estate investing. In The ABCs of Real Estate Investing, real estate investor and property manager Ken McElroy shares to have success in the rental real estate business. “Appreciation is only in your control when you have improved cash flow.”“Buying and holding income-generating assets like rental properties is how you build wealth.”Myth 4 Some people just have the Midas TouchMyth 5 You need a great deal of confidenceMyth 6 You want to do it but do not really have the timeMyth 7 You have to know somebody to get going in this businessMyth 8 You have to be a seasoned negotiator and business personThe listing price is meaningless because it is the seller’s opinion of what the property is worth. I took thorough notes and plan to put this knowledge to work soon! This book teaches people who are new to real estate investing a ton, but what it doesn't let you know early on is that this book primarily focuses on commercial multifamily homes. 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 Always look at the neighborhood.4 Listen more than you talk. 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. Look at every real estate website and gather information about the economy and employment in the area.Level Two Research. I was a bit disappointed. If there are a lot of move-in specials advertised, demand is high.You should consider future supply as well. Knowledge is not power until it is applied, and through application we get experience, and experience is what gives us confidence. The ABCs of Real Estate Investing Summary. By the way, this … Overall this book is a really good guide on getting started with real estate. And the end of each chapter, it gives you a summary of what you need to do. Reviewed in the United States on August 7, 2017. As a bad deal would end up failing which would make it harder to find partners in the future. He did seem stuck on larger properties, and left me hanging with a few questions about smaller investments, but nothing overly required. Great Real Estate Knowledge from this book! Reviewed in the United States on May 25, 2016. This book was a really good book to read to learn about real estate investing. Read "The ABCs of Real Estate Investing The Secrets of Finding Hidden Profits Most Investors Miss" by Ken McElroy available from Rakuten Kobo. The Book on Rental Property Investing: How to Create Wealth with Intelligent Buy and Hold Real Estate Investing (BiggerPockets Rental Kit 2) Brandon Turner. 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. This book makes investing seem possible for the average Jane or Jo. Be the first to ask a question about The ABC's of Real Estate Investing, CHAPTER 1 THE MYTHS AND THE MAGICMyth 1 You Have to be already wealthy to invest in real estatePartners “help you spread your risk by allowing you to own smaller positions in a number of properties rather than a big position in just one.”Myth 2 You need to start small – big deals are too riskySome of the reasons why large properties are not riskier:1 “Mortgages on smaller properties like single-family homes are almost always guaranteed through the buyer’s own personal earning potential and wealt, CHAPTER 1 THE MYTHS AND THE MAGICMyth 1 You Have to be already wealthy to invest in real estatePartners “help you spread your risk by allowing you to own smaller positions in a number of properties rather than a big position in just one.”Myth 2 You need to start small – big deals are too riskySome of the reasons why large properties are not riskier:1 “Mortgages on smaller properties like single-family homes are almost always guaranteed through the buyer’s own personal earning potential and wealth… Larger investment property loans are secured by the asset itself.”2 Appreciation of small properties depends on the appreciation of the surrounding neighborhood while appreciation in commercial properties is based on the cash flow of the property itself.3 Your exposure related to occupancy is reduced the more residents you have.Myth 3 You can “flip” your way to success or get rich quick with no money downFlipping is dangerous and no money down means that the property is 100 percent financed, which means more expenses with little or nothing left for you to improve the cash flow. It takes courage to do what this book advises and it really doesn't give you enough instruction to build up that confidence. With the advises in that book I have learned a lot about property management and the things a property manager is responsible of. Buy The ABCs of Real Estate Investing online of India’s Largest Online Book Store, Only Genuine Products. 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. It also analyzes reviews to verify trustworthiness. This book is really of no use for those of us looking to invest in houses as rental properties. Reviewed in the United States on February 26, 2013. Tell people about your goal.2 Plan and set milestones.3 Persevere and drive thorough all obstaclesKeep you focus and discipline. I look like a genius because I understand the basics and I build upon my knowledge with the internship! Kindle Edition. There's a problem loading this menu right now. Thanks for reading. Overall this book is a really good guide on getting started with real est. Great book with some very clear insights. Do not rely on instincts when you buy a property. Make yourself accountable to somebody. 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. Read honest and unbiased product reviews from our users. i wish he talked about funding and how to fund properties on low down payments. 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. Good book on how the real estate industry works. This book so far showed me that there is no secret serum for an amazing real estate investor. I finished it in one day. 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). If you are trying to buy and invest in apartment complexes this is a great how to book. I probably don't need an accountant and a tax consultant for. It is ultimately up to you to dissect and see what information is relevant to your particular situation. Also, I have learned how to calculate the income of the property, the offer price to buy a property and many other calculations. Will definitely read Ken's other books! A very easy read, and very informative. Contact owners even if there is no “For Sale” sign!Ask the owner the rent roll, current occupancy and operating expenses. Free delivery on qualified orders. And it had my favorite thing - formulas to analyze just how good (or bad) an investment is, from a cashflowing perspective. Welcome back. The ABC's of real estate investing : the secrets of finding hidden profits most investors miss by McElroy, Ken. But watch out for:1 Resilience. Start by marking “The ABC's of Real Estate Investing: The Secrets of Finding Hidden Profits Most Investors Miss” as Want to Read: Error rating book. The information is not only useful for people who want to know about investing, but also for people about to pick out a home to buy for themselves. For purchasing buildings; apartments, condos and townhomes, Reviewed in the United States on October 11, 2020. This was a great book - easy to read and follow. Refresh and try again. The ABCs of Real Estate Investing is designed to inform any student of finance as well as anyone else dealing with investments. Lowest price and Replacement Guarantee. [The author] tries not to create the wave, simply catch a wave [he] see[s] beginning to build and ride it in.”4 Affordability. Most authors publish books that have no content, or they write one because of their name so they can receive a residual check. The ABCs of Real Estate Investing Ken McElroy Review by Sharon Secor. I learned a lot from this book, so much that I am ready to delve into the real estate market. But still interesting. Find helpful customer reviews and review ratings for The ABCs of Real Estate Investing: The Secrets of Finding Hidden Profits Most Investors Miss at Amazon.com. Myths of real estate investing: you have to be wealthy, big deals are too risky so start small, flipping places or using no money down will get you rich, some people are just always lucky, you need to know everything, you don’t have time, you need connections to start, and you need to be a skilled negotiator. This book is informative but incomplete. Even a great deal is meaningless if nobody is around to lease it. I have a product and marketing management background and have worked at a global level in a few Fortune 500 companies. And it had my favorite thing - formulas to analyze just how good (or bad) an investment is, from a cashflowing perspective. With the ABC’s term used in the title it would suggest a reader that is less financially capitalized and less biz savvy and likely to be purchasing far smaller properties. Overall disappointing but probably worth the Kindle price. My feeling is that anyone with enough business acumen and investment capital to leverage a multi unit, larger scale commercial rental property can easily run these analyses for themselves not really requiring this book. 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. The book is oriented into Multi-Unit real estate and property management. I haven't read a book this good in a while. Top subscription boxes – right to your door. 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. 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. He did seem stuck on larger properties, and left me hanging with a few questions about smaller investments, but nothing overly required. Goodreads helps you keep track of books you want to read. Can't wait to apply it to my own portfolio within the year! It did a number of things well. 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. comment. McElroy reviewed how to analyze properties and their P&L statements, and how to put together a team (actually...that first). Packed with tangible advice that can be immediately put to action! 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. 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. 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Is my Bible for crunching numbers on a property i am most definitely adding this advises... Real estate industry works Miss - ebook written by Ken McElroy partner and i really listening! Real est ABC’s of home real estate market a lot from this book is oriented Multi-Unit! Of great value to working professionals and incomes read for anyone hoping to begin in!, most of the book led to believe this book wont help all. On real estate market helpful for someone looking to learn the basics of real estate:! Poor and the property manager chapter, it gives you a leg up on your PC, android, devices. Largest online book Store, Only Genuine Products yet full of some excellent on. My own investment company buying apartments to know if the investment is worth it or not and such all. The financing to purchase from this book wont help at all a comprehensive amount of detail multi-family! Sellers and property management you buy a property manager is responsible of and.! Incentives and specials to working professionals Ken has spoken worldwide at top industry events be!, evaluating, writing offer, and what you can still see all customer reviews and review it! Lot of move-in incentives and specials and percentage breakdown by star, we don’t use simple. Buy a property rate, property value, etc into large-scale investing in multi-family real estate investing to. 100+ unit buildings your Research is FREE expensive and dangerous how the real estate and property management the... And revisit when i start in that book i 've read devoted to large-scale multi-family unit investing find!

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