Real Estate Investing for Dummies

  Author:    Eric Tyson, Eric Tyson, Robert S. Griswold, Eric M.B.A. Tyson
  ISBN:    0764525654
  Sales Rank:    7075
  Published:    2004-11-15
  Publisher:    For Dummies
  # Pages:    380
  Binding:    Paperback
  Avg. Rating:    5.0 based on 22 reviews
  Used Offers:    24 from $8.95
  Amazon Price:    $14.95
  (Data above last updated:  2008-10-07 08:47:46 EST)
  
  
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Real Estate Investing for Dummies
  
"This is simply the best book on the topic.”
—Randall Bell, Author, Home Owner's Manual

"Tyson and Griswold have truly opened the world of real estate investing to all by tackling often complex issues in this easy to understand and use book. I can't think of a better way to get smart about building wealth through rental properties than to read their excellent Real Estate Investing For Dummies!"
—Vern Hoven, CPA

Non-prime time TV is cluttered with infomercials about how you can buy non-prime real estate for next to nothing and get rich quick. Common sense should tell you that’s an exaggeration. (If common sense doesn’t tell you, bankers will.) Nevertheless, it is possible to get rich gradually by investing in real estate. Long term, you can expect to realize an annual return of 8 to 10% a year.

Real Estate Investing for Dummies gives you the keys to successful real estate investment, whether it’s in single family homes and condos, apartments, vacation homes, commercial properties (office, industrial, and retail), raw land, or REITs (Real Estate Investment Trusts). With guidance from authors Eric Tyson, MBA, a financial counselor, and Robert S. Griswold, a veteran real estate investor, you’ll discover how to:

  • Find and buy the best properties at a fair price
  • Capitalize on opportunities such as foreclosures, no money down deals, auctions, tax sales, and more
  • Secure financing and good mortgage terms
  • Value, evaluate, and negotiate everything to do with real estate
  • Work with agents and other professionals
  • Project income potential and cash flow
  • Handle contracts, inspections, and closings

Whether you’re interested in a fixer supper for rental, premier office space you can lease, or a vacation home you can enjoy and rent, when you become a buyer, you also become a landlord. That means you can hear from tenants any time, night or day. It means you may not hear from them when the rent is due. Real Estate Investing for Dummies also helps you:

  • Find and keep good tenants
  • Negotiate lease agreements
  • Insure and maintain your property
  • Keep good records for tax and accounting purposes

Remember, with any deal, you have to know when to hold them and know when to fold them. So Real Estate Investing for Dummies gives you guidelines on when and how to sell and how to reinvest to build wealth. It also lists 10 real estate investments you shouldn’t touch with a 10-foot pole. Especially if you’re tempted by those late-night infomercials, that warning could save you a fortune!

                  Reader Reviews 1 - 30 of 30                 
  
  
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Reader Reviews Below Sorted by Newest First
10-02-08 3 (NA)
(Hide Review...)  How quickly the tide turns
Reviewer Permalink
This was all great advise for 2005-2006. Now here we are 2008 and everything is upside-down and the best and safest investments appear to be short-sales and various wholesale flipping stategies for investment. As I read the book I kept being reminded of how a changing market requires a changing approach to investing.
(Review Data Last Updated: 2008-10-04 04:02:55 EST)
09-11-08 5 0\1
(Hide Review...)  very informative book
Reviewer Permalink
i'm currently reading this one and it's full of useful info, tips etc. i have hiliter marks of different colors, post it notes all over it and a notebook i keep handy so as i'm reading i can jot down questions or take notes as reminders of rules i need to follow i.e. invest close to home; buy good property in a good location. i'm finding the book very useful since i'm new to real estate.
(Review Data Last Updated: 2008-10-03 05:14:28 EST)
08-24-08 5 (NA)
(Hide Review...)  Gotta Get Me Some Land!
Reviewer Permalink
Authors Eric Tyson and Robert S. Griswold (the 'S' stands for '$old') do an excellent job of breaking down the often confusing and risky world of real estate. As one of the "common man" I wanted to learn about buying and selling land and hopefully seeing quite a return on my investment. I'm happy to report that this book is a simple entertaining and educational read.

Real estate has always been a fascination for me. When I was 5-years old I remember my father telling me, "Son, stocks may rise and fall, utilities and transportation systems may collapse. People are no damn good, but they will always need land and they'll pay through the nose to get it!"

"Remember," My father said, "...LAND."

Those words still resound with me today. And, after reading Real Estate Investing for Dummies I've slowly been buying land east of the San Andreas Fault, so if indeed the "big one" hits, I'll see quite an increase in my initial investment as I'm sitting on the new west coast.

For people interested in my strategy I'd also like to recommend the book -Predicting Earthquakes: A Scientific and Technical Evaluation - with Implications for Society by The Assembly of Mathematical and Physical Sciences.
(Review Data Last Updated: 2008-09-12 05:06:56 EST)
03-11-08 5 1\3
(Hide Review...)  Great book!
Reviewer Permalink
This book is super if you are considering real estate as an investment. I like it so much, I take it with me virtually everywhere I go! It is a suberb resource and caters to almost everyone in every situation! A great book and will definitely get my use out of it! Delivery was super fast too!
(Review Data Last Updated: 2008-08-24 04:07:37 EST)
02-04-08 5 2\2
(Hide Review...)  An Well Written and Throrough Book
Reviewer Permalink
Real Estate Investing for Dummies is yet another excellent real estate book in the Dummies series. I have "Home Buying for Dummies" and "Property Management for Dummies." Both are highly valued, and frequently utilized, volumes in my investing library.

I have long thought that "Real Estate Investing" by McLean and Eldred was perhaps the top book for beginning real estate investors. But after reading "Real Estate Investing for Dummies," I now think the Dummies is equally as good, although it may not cover quite as much ground. Dummies is excellent in what it presents because it written in a manner that is easily understood, it provides sufficent depth, and it covers the key topics.

I particularly like the chapter on "Due Diligance." The chapter does an outstanding job of describing the components of reviewing books and records, and inspecting a property that you have bid on and have had the bid accepted by the seller. Purchase contracts provide that the sale can be canceled without loss of earnest money if the buyer's physical inspection isn't satisfactory. Following the suggestions in this chapter assure that you won't be surprised with what you get, and gives tips on how to cancel or renogiate the deal, if you need to.

I also like the final chapter, which lays out in plain English the time tested (non-infomercial guru) principals of how to make money in real estate. Buy when market conditions are conducive to buying, when properties are distressed and available as forclosures or on favorable terms with seller financing. Add value to properties. Hold on to properties that offer long-tem stable growth in rental rates. Refinance to tap into investment property equity and to further your real estate investments.

Good solid advice.
(Review Data Last Updated: 2008-03-11 19:34:37 EST)
09-21-07 5 (NA)
(Hide Review...)  Great Information, but with a verbal tick
Reviewer Permalink
This book is stupendous! It covers a tremendous amount of information to get you started in real estate investing. My wife and I are starting a real estate holding company and this book has been the foundation of our learning.

The only strange thing about the book is that for some reason the authors decided to only use the feminine pronouns "she" or "her" when referring to general individuals, such as "It's very difficult for an owner to lose her home and it's often even more difficult for her to..."

At first this was just odd, but it became a real distraction and annoyance that they never use "he or she" or the common practice in English of using the male pronoun for such situations.

Despite this sort of printed verbal tick, this is an excellent book with a lot of information.
(Review Data Last Updated: 2008-02-04 06:44:01 EST)
09-06-07 5 0\2
(Hide Review...)  Quick Arrival
Reviewer Permalink
I was amazed at how quickly I received this book. The book was in excellent shape.
(Review Data Last Updated: 2007-09-22 03:22:28 EST)
07-09-07 5 1\1
(Hide Review...)  Details, details and more details ...
Reviewer Permalink
This book is a great companion to other books of a more thoeretical nature. Many real estate books focus on why you should invest and the benefits of investing.

This book does that, but then goes one step further. I think the authors and the 'For Dummies' team need to be congratulated as they have given everyone enough detail to make some very solid decisions about your investing.

Very worthwhile and definately well worth the $$. And very solid to know it's written by investors not salespeople.
(Review Data Last Updated: 2007-09-06 19:40:51 EST)
06-15-07 4 (NA)
(Hide Review...)  house buying
Reviewer Permalink
Good book. Extremely in depth. This book will give you the big picture on buying a house. But most importanly should help you to avoid buying a house using the wrong criteria or reasons(ie. helps avoid a bad investment).
(Review Data Last Updated: 2007-07-10 16:26:39 EST)
04-11-07 5 (NA)
(Hide Review...)  Good read
Reviewer Permalink
I'm still reading this book. It is organized well, easy to understand and perfect for anyone who is considering entering the world of real estate investing.
(Review Data Last Updated: 2007-04-11 17:03:50 EST)
04-10-07 5 (NA)
(Hide Review...)  Good read
Reviewer Permalink
I'm still reading this book. It is organized well, easy to understand and perfect for anyone who is considering entering the world of real estate investing.
(Review Data Last Updated: 2007-04-11 01:48:43 EST)
01-05-07 5 8\9
(Hide Review...)  Great book for novice investors
Reviewer Permalink
This is a great book that simplifies and explains the details of real estate investing. It explains how to begin and cautions against some of the risks involved. I think it provides straight-forward practical information that can help anyone get started investing in real estate.
(Review Data Last Updated: 2007-07-10 16:26:39 EST)
11-11-06 4 10\11
(Hide Review...)  not just for dummies
Reviewer Permalink
don't think this is just for dummies, this is a helpful book for almost all beginners. it covers a wide range of topics from flips to rentals. i also suggest reading other beginner's guides of specific topics you like. for instance, if you want to know about buying properties below market value through the government, you could buy this book and Investing Without Losing (ISBN 0978834607 NOT on amazn, other stores)
(Review Data Last Updated: 2007-07-10 16:26:39 EST)
11-10-06 4 5\5
(Hide Review...)  not just for dummies
Reviewer Permalink
don't think this is just for dummies, this is a helpful book for almost all beginners. it covers a wide range of topics from flips to rentals. i also suggest reading other beginner's guides of specific topics you like. for instance, if you want to know about buying properties below market value through the government, you could buy this book and The Beginner's Guide to Real Estate Tax Lien and Tax Deed Auctions
(Review Data Last Updated: 2007-01-05 08:41:31 EST)
11-09-06 5 12\12
(Hide Review...)  Puchase a Highlighter along with this book!
Reviewer Permalink
I bought this book some time ago and read it as soon as I got it. I'm a realtor in the Florida Keys and continually work on my education and training. I have never read a "dummies" book before now and I was very impressed. This book was a review of much of the material I learned and great source of information that's easy to follow. The content of the book will help you decide what type of property investment is right for you. It's a must have for anyone considering investing in real estate no matter what your background, and I strongly urge you to read with a Hi-liter for easy reference when you need it. [...]
(Review Data Last Updated: 2007-07-10 16:26:39 EST)
11-08-06 5 (NA)
(Hide Review...)  The Complete Guide!
Reviewer Permalink
This was a great book on real estate investing, whether it's your first time or your a seasoned veteran. Everyone forgets the simple things at some point and this book concisely walks you through the aspects of investing step by step. As a new Real Estate Agent and homeowner, this book parallels alot of what I learned the hard way. This is my first Dummies book and it won't be my last. The book is a great reference tool and I recommend reading with a Hi-Liter! For info on investing in the Fabulous Florida Keys...visit my website www.RealtorInParadise.com
(Review Data Last Updated: 2006-11-10 08:36:51 EST)
11-07-06 5 13\14
(Hide Review...)  MY FIRST REAL ESTATE BOOK!
Reviewer Permalink
It was some time ago since I bought this book. And if you read all of my reviews about real estate books, you'll know I grade honestly (see my other reviews).

This book I give 5 stars because it truly explains everything to the average Joe. It isn't boring. You get to learn the different aspects of real estate investing. This was my first book and it made me get interested in real estate not because of the "riches that's promised" but the potential that this field has and so many branches of it. Real estate investing isn't limited to just flipping houses, you'll find by reading this book there's many more roads that's equally profitable.

-Matt
co-author of the Ultimate Foreclosure Kit
(Review Data Last Updated: 2007-07-04 10:54:00 EST)
11-07-06 5 (NA)
(Hide Review...)  MY FIRST REAL ESTATE BOOK!
Reviewer Permalink
It was some time ago since I bought this book. And if you read all of my reviews about real estate books, you'll know I grade honestly (see my other reviews).

This book I give 5 stars because it truly explains everything to the average Joe. It isn't boring. You get to learn the different aspects of real estate investing. This was my first book and it made me get interested in real estate not because of the "riches that's promised" but the potential that this field has and so many branches of it. Real estate investing isn't limited to just flipping houses, you'll find by reading this book there's many more roads that's equally profitable.
(Review Data Last Updated: 2006-11-10 08:36:51 EST)
10-12-06 3 3\5
(Hide Review...)  Not a good book for real estate tax liens or tax deed sales
Reviewer Permalink
I went to read this book to see if they had any definite information on tax liens and tax deeds. Plenty of developers have raked in millions because they were able to start subdivisions with cheap land bought through tax sales. Unfortunately, this book doesn't cover a lot of this.

I would recommend reading something like Investing Without Losing: The Beginner's Guide to Real Estate Tax Lien and Tax Deed Auctions if you're looking to invest in real estate with less money, controlled risks, and higher profits.
(Review Data Last Updated: 2006-11-06 07:55:47 EST)
09-14-06 4 6\6
(Hide Review...)  Wish I had seen it first
Reviewer Permalink
I am only mid-way through this book but it has already answered so many of my questions (that another book did not)! I am new to real estate investing but not new to real estate. This book is layed out (like the rest of the Dummies books) in a very easy to follow format. It points out items to definitely remember when considering transactions and also points out warnings.

Also, since they have no agenda other than to help you understand the process, they did not try to sell you anything (i.e.; get rich quick schemes). This Dummies book gives it to you straight -- Why you should invest in real estate; How real estate investments stack up against other types of investments, such as stocks, etc.; The benefits of building your wealth by staying in for the long term; What cash flow to expect in the short term, including the possibility of negative cash flow.
(Review Data Last Updated: 2006-11-07 00:26:41 EST)
09-12-06 4 (NA)
(Hide Review...)  Great Book!
Reviewer Permalink
Really got me thinking and was filled with very useful, helpful, informative, but easy and simple to understand tricks. One of my favorites. A+
(Review Data Last Updated: 2006-09-12 15:11:18 EST)
08-14-06 4 2\2
(Hide Review...)  Very Good Book on Real Estate Investing!!
Reviewer Permalink
I've purchased several books on real estate(RE) investing and this book by far is the best of the lot. It is written in a concise yet informative manner and provides beginning investors with the techniques and strategies to get their RE investment careers off to a solid start. I'm sure I'll be referring to this book many times throughout my RE investment career.

I would highly recommend this book!
(Review Data Last Updated: 2006-09-13 20:51:08 EST)
07-14-06 4 1\1
(Hide Review...)  As usual, "Dummies do it Again"
Reviewer Permalink
A great place to start if you really don't know anything about the subject. Full of useful stuff.
(Review Data Last Updated: 2006-08-14 08:21:58 EST)
07-03-06 5 (NA)
(Hide Review...)  Review: Real Estate Investing for Dummies
Reviewer Permalink
This is one of the most helpful books on the topic of real esate investing. I read the book once and still find myself reguarly referring to this book as a guide book. It covers all of the fundamentals of real estate investing. Although it is written with the novice in mind, I am sure that even an experienced investor will find some helpful nuggets of information in this book.

(Review Data Last Updated: 2006-07-15 00:37:46 EST)
02-22-06 5 (NA)
(Hide Review...)  New best assistant in Investing for the beginner
Reviewer Permalink
They explain right from the beginning till the end. In my opinion, this is a good book for beginner/dummies who want to try Real Estate Investment. It is very helpful, all the first important things to do are in the book. Excellent!
(Review Data Last Updated: 2006-04-20 09:21:16 EST)
02-12-06 4 14\14
(Hide Review...)  Real Estate Investing for Dummies
Reviewer Permalink
This is an excellent book for beginners. It really covers all of the basics and full of tips for all, experienced or not as of yet.
At this time I own 2 doubles, 2 condo's, and a 4-unit and I found it full of usefull information and tips. I would recommend the purchase.
(Review Data Last Updated: 2006-07-07 16:16:52 EST)
09-11-05 4 10\197
(Hide Review...)  Horrible purchase...recommend only for Dummies - Review by Jameson and Elizabeth Thottam
Reviewer Permalink
You had to be a dummy to get this book.

We, myself and my husband, Jameson Thottam (he used to work with Real Estate firms such as Homestore and IndyMac Bank), have been dabbling in residential real estate and we found this book useless (i.e., no provisions on valuation, SEC II or SEC III stat techniques, tax implications and flippying and insider trading tips of how to find/negotiate the best properties).

We can't recommend it . See our other reviews for books with more relevant information. 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
(Review Data Last Updated: 2006-05-28 08:50:19 EST)
08-10-05 5 14\28
(Hide Review...)  walks you through from start to finish
Reviewer Permalink
I really enjoyed this book, very informative in easy to understand terms. great for those just starting out.
(Review Data Last Updated: 2006-07-07 16:16:52 EST)
03-16-05 5 65\69
(Hide Review...)  A New Standard For Other Authors To Follow.
Reviewer Permalink
Upon the completion of reading this book, I realize that the authors have set a new and comprehensive standard for real estate investors. Investment in Real Estate is an interesting and often frustrating process. Don't let the title fool you, this is a SERIOUS book for serious real investors whether novice or veteran.

The authors obviously know their subject, which is highly diverse. You are guided around pitfalls, and problems. It's almost like you have a wise sage holding your hand because the authors have "been there and done that". I appreciated their candor and honesty throughout the book, but in particular their take on the "information guru's" who sell their get-rich-quick real estate tapes and CD's on the unsuspecting public.

All you other real estate authors take note. You have a new standard to shoot for. Five stars, easy.
(Review Data Last Updated: 2006-07-07 16:16:52 EST)
02-03-05 5 55\59
(Hide Review...)  Just what the doctor ordered
Reviewer Permalink
I have done some investing on my own but wanted to learn more about real estate. This book is awesome. It covers the basics and more complicated real estate investments. I now know what types of real estate I am going to pursue and how to analyze them. I read the entire book but I am sure I will keep coming back to it for the worksheets and checklists.
(Review Data Last Updated: 2006-07-07 16:16:52 EST)
  
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