Some of the shine has worn off real estate investing lately with the credit crisis and mortgage blowouts, but still, people have to live somewhere, and , unfortunately, (or fortunately), some persons losses are other persons gains.

I think the next year or two are going to be excellent times for investing in real estate, and more specifically, detached single homes purchased for rental income. McLean and Eldred have created a fine book that guides you through the pitfalls of real estate investing with some very solid advice. It could use better information on getting statistics. While it does have some links, it needs more, because some of the information is buried deep in some websites.

The first chapter is an argument on how real estate is a better investment than stocks. The authors use averages of the stock market to determine what kind of dividend you can get on stocks. While that may sound fair, the reality is a good stock picker doesn't purchase average stocks. They purchase great stocks that are currently down. For instance, not too long ago you could have purchased Bank of America for just over $20.00, with a dividend yield of over 8 percent. Paychex was available at 3.5%. While the average yield may be 2 percent, many individual stocks are yielding between 3 and 6 percent. Then you wait for a dip in the price and pick them up between 4 and 7 percent, often giving an average portfolio of 5.5 percent. Yes, this is still lower that what you would make on a rental, but:

Then their greatest failure to understand the best method for picking stocks: you choose the stocks that have consistently increased dividends every year, year in and year out. There are many stocks that do this. They often have yearly increases well over 8 percent, many in the last fifteen years have increased over 15 percent on average. The authors expect you to be able to raise your rents 4% every year.

Given a choice between raising your cash flow 4%, or 8, 10 or 15 percent, which would you take? A single percent difference can mean hundreds of thousands of dollars lost, or gained in twenty years. A difference of five percent or more can mean millions lost or gained.

But all that aside, with the current state of the market, a lot of people are going to make a lot of money off other peoples pain. Thats unfortunate, but that is the way it is. As Baron Rothschild, an 18th century British nobleman said, "Buy when there is blood in the streets".
The possible down side is a possible glut of rental housing in some areas, notably Arizona, which already has a good supply of rental housing and currently has a high number of vacant foreclosed houses.

Monthly rents are likely to lesson (a boon for renters) as supply increases further, causing less cash flows, perhaps negative cash flows. But Arizona has a growing population, both young people and retired are moving there. The population will eventually catch up and rents will again begin to increase.

The authors reject the stock market, personally, I think a combination of investing in stocks and in real estate will give you a more balanced and safer portfolio. I think this book will definitely help you with your investment goals.

If you are just beginning in RE investing you must get this book. It goes over all of the different types of RE investing. This book is a must have for Real Estate investors.

Having read the third edition of this same book, which was very good, I found this to be a more detailed and thorough revision. The way in which the information is portrayed guides the reader through the steps of investing and how to not only succeed, but to protect themselves from the failures that many novice and seasoned real estate investors fall victims to. If you want to know about investing in Real Estate, this is the book for you.

Having read a number of different real estate investing books, I am happy to report that this one is definitely above average. The author does make an effort to cover many facets (though perhaps too many?) of real estate investing. If you are looking for an introduction to real estate investing in general, this is a good place to start. If, on the other hand, you are looking for something new or different, you may want to look elsewhere. This book does a good job of hitting the basics, but it's broad coverage means that at times it is lacking in detail.

This is a practical guide to the various avenues and pitfalls in investing in real estate. At the prices used, you can't go wrong to pick one up.

This book is the best book on the subject of real estate investing. I encourage anyone with an intrest in real estate investing to pick this book up. This book is in its fifth edition because the information within every edition is simply the best, most well-written, complete, and up-to-date information in text ever. It helps also, to note that the authors have Phd's from prestigious universities. They teach at some of the most elite learning institutions around, write editorials and articles for newspapers and magazines (including the Wall Strreet Journal), and also work with Donald Trump himself. I think success like that speaks for itself-how many real estate "gurus" can say that?? Not many!! This book will definitely not disappoint and can by itself, lead you on a path to great success AND wealth in the world of real estate investing.

It's no wonder this book is in its 5 edition. The info is practical with good examples and explanations of the terms and processes involved in Real Estate Investing. I'm living in Ireland and most of the information and techniques will work here. We just have high stamp duty which adds up to 9% to the cost of property.
This book is well worth the investment!

After you get past the author's stock market rant, this book is a great resource. It explains the relevent formulas for evaluation of real estate investments, how to obtain the data, and how to compare alternate investments. I have found it takes these aspects of investment a bit further than many of the other real estate books I have purchased. Skipping the stocks rant, I think this is the best book on the subject I have read.

There is a good reason why five editions of this book have been published. It covers the major topics that most real estate investors need to know about their profession. Many books cover the same ground, but few do it with such depth and insight.

One motivation that I had in when I originally bought this book was to get a clearer understanding of commonly used real estate terms such as Net Operating Income (NOI), Capitalization Rate (R), Value (V), Return on Investment (ROI) and Gross Rent Multiplier( GRM). The book does a good job of both describing these terms, as well as providing numerous example of their use.

As an investor who focuses on fix-up houses, I think the section on buying fix-up houses hits the nail on the head. I like how the authors describe how easy it is to overlook a the potential in a fix-up house, in saying, "Many buyers reject properties too quickly. They walk in , do a quick-take with a pass-through tour, and then say something like, 'Let's get out of here. It's way too dark, the rooms are too small, and ... it has awful burnt-orange shag carpeting in the bedrooms... anyone would be crazy to buy that house. Yes, anyone would be crazy to buy that house - unless, of course, they could buy it at a steep discount , rehab, redecorate and resell it, or perhaps, if in finding a discounted fixer they were able to buy property in a higher-priced neighborhood they could other wise not have afforded. Then these buyers wouldn't be called crazy. They'd be called smart."

Other books that I have found particularly useful are: "How We Made A Million Dollars Recycling Great Old Houses" by Sam Weir and Mary Weir; "Profits in Buying and Renovating Homes" by Lawrence Dworin; and, "Building Wealth One House at a Time: Making it Big on Little Deals" by John W. Schaub.


Terry Sprouse - author of the forthcoming book, "Fix 'em Up, Rent 'em Out: How to Start Your Own House Fix-up and Rental Business in Your Spare Time."

There is a good reason why five editions of this book have been published. It covers the major topics that most real estate investors need to know about their profession. Many books cover the same ground, but few do it with such depth and insight.

One motivation that I had in when I originally bought this book was to get a clearer understanding of commonly used real estate terms such as Net Operating Income (NOI), Capitalization Rate (R), Value (V), Return on Investment (ROI) and Gross Rent Multiplier( GRM). The book does a good job of both describing these terms, as well as providing numerous example of their use.

As an investor who focuses on fix-up houses, I think the section on buying fix-up houses hits the nail on the head. I like how the authors describe how easy it is to overlook a the potential in a fix-up house, in saying, "Many buyers reject properties too quickly. They walk in , do a quick-take with a pass-through tour, and then say something like, 'Let's get out of here. It's way too dark, the rooms are too small, and ... it has awful burnt-orange shag carpeting in the bedrooms... anyone would be crazy to buy that house. Yes, anyone would be crazy to buy that house - unless, of course, they could buy it at a steep discount , rehab, redecorate and resell it, or perhaps, if in finding a discounted fixer they were able to buy property in a higher-priced neighborhood they could other wise not have afforded. Then these buyers wouldn't be called crazy. They'd be called smart."


Terry Sprouse - author of the forthcoming book, "Fix 'em Up, Rent 'em Out: How to Start Your Own House Fix-up and Rental Business in Your Spare Time."

This book is easy to read and has great advice and tips. The authors have organized the principles of real estate in a way I could easily understand and encompass.

Another great book I found - Bubble Proof: Real Estate Strategies that Work in any Market by Tonja Demoff has great strategies and a different spin on real estate.

If you know nothing about real estate, this is the book for you. I have read tons of books about real estate. Alot of them are mediocre at best. This one, however, gives you good sound practices in language you can understand!
Buy it new, buy it used - but if you are even pondering investing in real estate, make sure you buy it!

Down-to-earth advice for real estate beginners. The downside is that in some parts of the books, it centers on US real estate: taxes, legislation,...otherwise, a very enjoyable and applicable reading

If you are a beginner investor in real estate this is a book that you must read. Why? This book breaks downs and clearly explains the real estate principles that one needs to know and understand in order to successfully invest in real estate. Not only can this book be used by the neophyte investor , but it is also useful reference book that the seasoned investor should add to his library.

everythings well written and and easyto understand,a great investment in to the wealth of realestate

Concise and direct, McLean offers one of the best viewpoints of real estate investing from rentals to flips. This is a good step for beginners. If you also want to learn about buying property below market value and flipping it, consider buying this book with Investing Without Losing (ISBN 0978834607 NOT on amazn, other stores)

Concise and direct, McLean offers one of the best viewpoints of real estate investing from rentals to flips. This is a good step for beginners. If you also want to learn about buying property below market value and flipping it, consider buying this book with Investing With out Losing: The Beginner's Guide to Real Estate Tax Lien and Tax Deed Auctions.

Foundational techniques on how to get properties with no money down, using corporate entities to protect your personal assets, etc. I think this book should be in someone's personal library if you are interested in real estate investing. There are some weaknesses in the book, such as being able to invest in real estate tax auctions securely and proper strategies, which should be included in a "one for all" real estate book.

If you're interested in buying real estate properties without much capital and buy it below market value, I also suggest reading Investing Without Losing by Don Sausa (isbn 0978834607).

This book was very helpful. After reading it I understand the terminology and princinples behind real estate investment. I would definitely recommend this book to new investors! I would also recommend first reading Rich Dad Poor Dad by Robert Kiyosaki and Think Like a Billionaire by Scot Anderson.

This book was very helpful. After reading it I understand the terminology and princinples behind real estate investment. I would definitely recommend this book to new investors! I would also recommend first reading Rich Dad Poor Dad by Robert Kiyosaki and Think Like a Billionaire by Scot Anderson.

Really got me thinking and was filled with very useful, helpful, informative, but easy and simple to understand tricks. One of my favorites. A+

Per our agreement:
I enjoyed reading this book. It has some real life examples that I was able to utilize. We highly recommend real estate investing and this book is great.
Our qualifications include having a total net worth of over $3M and having invested in 10 properties.
Maureen Hull
Owner and President.

I enjoyed reading this book. It has some real life examples that Maureen and I were able to utilize. We highly recommend real estate investing and this book is great.
Our qualifications include having a total net worth of over $3M and having invested in 10 properties.
Maureen Hull
Owner and President.

This is one of the best books about real estate. The book covers general concepts which is very useful for a beginning real estate investor.

If you have ever wondered whether you should invest in Beverly Hills or in Watts, If you don't know what cash on cash return, Cap Rates, GRM's, IRR, and how financing effects these numbers then do yourself a favour and buy a copy of this book.

Chock full of nuts and bolts information that every real estate investor can use. I highly recommend this book.

By Lex Levinrad - Author of "What I Learned On Wall Street: Why Real Estate Is the Best Investment".

I found it quite informative, but as of yet have not put it into practice and as such can offer no further comments.

Covers a wide range of topics with no b.s.
Highly recomended. Not a fluff how to get rich quick book.
Helps you develop personalized strategies to gain, and maintain wealth. Work, education and more work.

This book is a nuts and bolts guide to real estate. Packed with real life examples of why to invest in real estate, how to invest in real estate and how to value an income property. This is one of the best books on real estate estate out there. This book is a must read for any real estate investor. Lex Levinrad -author of "What I Learned On Wall Street, Why Real Estate Is the Best Investment".

My father is a retired real estate agent. Every chance we meet he would say the same thing to me for the past twenty years: "Real estate is the only investment you should have. Stocks, bonds, cash, precious metals, orange, pork belly , coffee and oil futures, curreny or any other exotic sounding names such as options and derivatives are meant for speculators and not investors." Fair enought, but is it ture? Could my father be right all along? and I am just a dim wit who refuses to believe his own father? Mr. Eldred, a PhD and successful real estate investor intended to show you how Not to invest in real estate. He has many harsh words for all the "dog and pony show" so-called experts that you encountered every day about "no-money down" real estate investing, pipe dreams of milion-dollar positive cash flows from apartment buildings and commerical properties, creative financing with OPM (other people's money) or any other fancy sounding catch phase get-to-be-a-millionaire-quick scheme. This book gives you an OVERALL survey of what you need to know before you invest. A quick glance of the table of content would give you a decent idea the comprehesiveness of the book. However, the most valuable of the book is to help you understand the difference between hypes and real value. Dr Eldred asked the reader: is there a housing bubble? Every economist from Professor Edward L Glaeser of Harvard college to your next door neighbor Mr. Joe the average guy seems to think so. Well, why should any one invest in real estate now? As Eldred clearly pointed out the so-called experts do not understand the importance of spotting a great deal. You can invest in a bubble if you do your homework. What the homework entails was clearly outlined in the book. He showed you the first step-unlike buying any other item on earth real estate loans are exceedingly complicated and full of very small fine prints most "creative finance experts" would not tell you. For any No cash No credit finance watch out for fine prints--chances are it was designed to ripe the consumer off. He showed you the proper way to finance: owner-occupany financing. Another words, it is the best way. The author also showed you proper way to evaulate a property's true value vs market value. Other chapters showed you how to identify a bargin when you see one: distressed sellers, the grass-is-greener sellers, life-stager sellers, and the ignorant sellers. Other ways of finding bargins including foreclosures, buying direct from lenders and home owners were all discussed. The major theme of all these finding bargin methods was this: you have to do your homework. If you want to profit from foreclosures, you should first know the area you intended to buy well, know the rental rate and vacancy rate, know the approximate average household income, know how to estimate repair/upgrade costs of the area, know the negiborhood crimes and major problems such as pollutions, factories, toxic leaks, earth quick fault lines, know the local laws regarding the right of the fomer owner to reclaim the property, know how the forclosure process works-the pre-forclosure, during and the auction, know how to compete with other foreclosure experts in bidding in auction, know how to finance the foreclosure properties once and if you win the bid, how to locate ture professionals specalized in foreclosure to help you, know how to calculate the property tax, know how to find a tenant with low chance of not paying rent, know how to draw up a leasing agreement, know how to design and improve your rental property, know how to manage the real estae yourself,know how to form a Limited Liablity Corporation for asset protection from law suits, know how to avoid capital gain tax if you ever sell the real estate, know how to research and find title information on forclosed properties....The list of need-to-know goes on and on...Investing in real estate is 99.9% learning about all the above information and 0.01% finding the property. But this is the beauty of the book: it simply points out the important factors to consider before you even attempt to invest. I learn a lot from this book. Dr Eldred has done me a great service to show me that YES you can make a great profit investing in real estate even in a bubble (I live in Los Angeles and the Median single house is greater than 500,000 dollars, yes it is not an error- 5 with 6 zeros and fast increasing at 12-14 percent PER YEAR. You have to make greater than 100,000 dollars per year to even qualify for a median house loan providing you have saved up 20% of the 500,000 dollars as the down payment) If you are willing to do homework, learn all aspects of real estate investing such as listed in the book and be diligent and rational on your approach yes great profit can be made. Is it better and safer than stocks and bonds like my father has told me a billion times already? Yes and no. Yes if you are willing to learn all the intricate details and have iron-clad will to comb throgh thousands of undesirable and unprofitable properties to find the diamond property, No if you are unmotivated bum like me rather spend my free time watching the Lakeres play on TV and put money in my 401(k) plan with a check instead of chasing down all the latest new leads for a good investment.

Good book to understand the terms of Real Estate investing.

Great book! author goes into detail on formulas and senarios. most other books just do scenario's and leave out the details. might be a little overwhelming for the beginning investor, but good for the semi-experienced investor.

If you want to learn....read this book. If you want to dream....read "Real Estate Riches".

I was disappointed with the book. Actually the first 1/2 of it because I couldn't finish it. There is a lot of information, but little that is very practical to the average real estate investor. So can't understand why it's made it to 5 editions. Some previous reviews couldn't understand why there were so many positive reviews, and neither can I. Has the author asked friends / acquaintances to hype the book on Amazon?

I have found this book somewhat helpful. There are other books out there that are better. It is still a good value and worth buying.

This is a book that is good on it's own but is better with other investment books out there. One I suggest is at http://www.buyingbacktaxproperties.com I couldn't find it on amazon but goes perfect with Investing in Real Estate.

Overall, if you are interested in investing in real estate to rent to tenants, this is the book for you. This book is very complete when discussing financing, maximizing return on investment, various ways to obtain bargain prices, negotiating contracts, etc., but overall, this book was not what I was looking for.

This book was written for people mainly wanting to purchase multiple unit apartment buildings and the various ways an investor can capitalize on their investment. I was looking for a book about fixing and flipping real estate, but this book only has one chapter on the subject. He has written a book specifically on the topic, so pick up his Make Money with Fixer-Uppers and Renovations, which I haven't read yet, so I don't know how good it is.

Before considering investing in real estate we did some research for sources of good advice. In the end, it came down to this book. Even as some real estate markets seem to be too hot to continue to hold (or gain) value, the advice in the book continues to be timely and well worth the time to read it. From helping you determine whether real estate investing is for you (and providing the reader with justification for why real estate investing is a competitive proposition), to identifying the best candidates to maximize your return and increasing value of your investment property while you rent it in the most favorable way, the book is almost as good as a living/breathing realtor. But I'd argue that even if you choose to have a realtor, it is an excellent idea to read this book, so you can be an informed investor.

If it's about real estate investing this book covers just about everything, maybe a little bit too much. I've read a few real estate books and this one covers so much about real estate, but in all honestly personally the only thing I learned that I didn't know before was having a better understand about "lease option". I also just want a book about real estate not a book that goes on and on about how great real estate is and how bad stocks and bonds are. Because the stocks and bonds books do the samething about real estate. I didn't mind him comparing or showing returns, which he took a chapter just to do, but at the end he closed with about how great real estate is and how bad the stock market is. Now without a question it's because he's succesful in real esate more than he has in any other investment.

The bottom line is that if I had to recommend just one book to read this one would be it. This book has a little bit about everything when it comes to real estate.

This is a great book for Real Estate investing. Myself and my husband, Jameson Thottam, have been dabbling in residential real estate and we found this book VERY helpful in terms of teaching the core secrets (i.e., valuation, SEC II stat techniques, tax implications and flippying and insider trading tips of how to find/negotiate the best properties).

We have used this book in examining multiple properties and can't recommend it enough. I personally made my first purchase using this book. Trust us, Elizabeth and Jameson Thottam....we've been in the business for the last two years now and love this book.

- The Thottam family

Investing in Real Estate is an excellent book and well worth the money. There's no hype and no creation of unrealistic expectations.
Since so many have already reviewed this book let me take a slightly different tack.
Some people may find this book a bit difficult to read. Sometimes the writing reminds me of a college textbook. Nothing has been done to make the book "pretty". No illustrations or cute little cartoons. This is a serious book written for serious, well-educated people. It's not a quick read nor is it a real page turner.
I thought it was great.

This book goes through the theory and specific details of real estate investing. The authors make a strong case for real estate investing. (I personally believe the asset class is unique since one can more easily leverage returns due to real estate's relatively low volatility.) Various money making strategies are described as well as the nuts and bolts of real estate investing.