I have been in the real estate game for 10 years, starting with "flipping" (before it was trendy), then to building "spec" homes (because it was trendy), and finally to "hold and rent" (because I had to!). After the boom, I had several homes that would not sell and reluctantly turned to rentals as a last resort to cut down my mortgage outlay. Much to my relief, it worked!

Since that revelation, I recently set out to find information specializing in "Buy/Fix/Rent" methods and along comes this book. At first blush, it was exactly what I was looking for - and with glowing reviews to boot! Bullseye, right? Well not quite...

THE GOOD: Great introduction for beginners, providing a nice foundation of information. Definitely like his reasoning behind buying multi-family residences. Section on Valuation of Property was a good read.

THE BAD: You need to be fairly well financed for down payments, renovations, margin, etc., and have very good credit. He only buys in middle to upper middle class 'yuppie' areas, that are near where he lives. That may not apply to everyone. He disregards lower income and out-of-state areas as options (I found his explanations a bit unsatisfactory). He also advocates being the property manager, which is a legitimate full time job (believe me, I know!). His long-term success relies largely on appreciation and buying more properties by pulling out equity with refinancing, which is tough sledding these days (not his fault, he wrote this when that was not an issue).

THE UGLY: At the risk of being offensive, his blurb on Selecting Tenants was laugh-out-loud funny. I guess his gut is the divining rod of the rental world. Sorry, I could not resist commenting on that.

In conclusion, this is a quick read and there are some solid pieces to the puzzle (especially if you are a beginner), but I can't quite adapt this to my situation.

I would recommed this book to anyone who is looking to branch out into real estate (residental property). I have 3 properties and they are producing good wealth, plus I never worry about them being vacant.

very good book. organized, but could have been shorter had it left out some of the ideas not related to duplexes, triplexes, and quads. overall, would def reccomend.

Larry Loftus gives great tips in this easy-to-read guide for this type of investing. When my partner and I first decided to buy a second home for an investment, we weren't sure which kind was right for us. This book turned out to be our turning point where we realized this was the right type of investment for our situation. Loftus relates personal experience, regrets and success. Great real-scenario figures, charts for comparison and defining information about who does what in the real estate biz.

Difficult to read due to lack of transitions. Some difficulty with following examples. Otherwise several decent plans on building wealth through rental units.

I bought this book because I am thinking of selling my condo and buying a duplex where I would live in half and rent the other half as a first step into real estate investing (after reading this book I may actually shoot for a triplex or 4-plex if I can afford one). What I really appreciated about this book is it showed me how to value a multifamily property (based on monthly rents rather than what single family homes in the area are selling for) and was really a great introduction for a newbie investor looking for a steady way to build riches (and not another border-line illegal get-rich-quick scheme).

A big plus is that unlike other real estate information books I've picked up, this one doesn't try to sell you anything. It's not an introduction to the author's "sales funnel" as they say in the information marketing world. It's just packed full of great information that is useful to a novice real estate investor (someone experienced may already know a lot of the stuff, but there are probably still a few useful nuggets if you aren't an expert in residential multi-family units).

The only downside to the book is that the author bases his advice on his own experience investing in Florida during the real estate boom. A drunk monkey throwing darts at a map could have selected properties that would appreciate significantly in this area during this time period.

The author's buy and hold method, I think, makes sense in any area, but the idea of buying something, fixing it up a bit, and then taking out equity based on increased rents (to buy another property or pyramid up) is probably not going to be so easy in a flat market or less pricey parts of the country.

I would love to see the author revisit the book in 10 or 20 years showing us his experiences during real estate down cycles as well as during boom cycles, and also include case studies for parts of the countries that haven't seen the same huge appreciation as places such as Orlando.

That said, this book has a lot more useful information in it than most other real estate books I've picked up, and I have no problem recommending it.

The book kept me interested in the first four chapters, but began repeating itself to the point of exaustion. I think that the biggest flaw with his methods to wealth is that the author did this in one of the best markets in history in one of the highest appreciating real estate markets in the country. This fact alone makes one skeptical if this can be duplicated in any real estate market. The author gives one method to success by moving into one of the units, then fixing up the units to increase the monthly rent. Stay in the unit for two years, then repeat the process. If you are young and single, then this may work. If you are married and/or have children, then good luck convincing them that this is for financial independence. Another overlooked factor for this and the other methods that the author gives is that the cost of improvements are not included into the equation. By the way, I gave this book three stars because of the equations. The author states that to become really wealthy, buy the three or four plex, improve, rent out for higher rental rate, pull equity from property, then buy another piece of property. Well, in a quickly appreciating real estate market, this maybe possible to do, but typically not possible in the rest of the country. Remember that I am reading this during a time where the country, as well as where I live, are seeing huge decreases in property value.
In addition, finding property that you can do better than break even is a tough task and my wife is a real estate agent.
I can only hope that there is a better book out there on buying investment property. Until I find that one, you would do better talking to a mortgage broker and real estate agent for there thoughts.

OK, I havent read the book, just some of these reviews. But, if I review the reviews so to speak, one is left with a basic question.

Property #1 he made money on because he bought it low.

Property #2 he buys at a fairly inflated price, and uses this inflation to buy it.

Property # 3 Luckily the market is still rising, (pretty amazingly), and this third property he has the gut feeling like this is really alot of money, but hey "I aint living in it" (Speculator) So, he uses more inflated money, and buys it.

Property # 4 Now the market is sizzling, and other have caught on, and then everyones flipping houses, cuz theyre too expensive to buy for oneself. The media starts to report that housing is slowing. Before you know it, more TV stations are saying the same thing, and within literally a few weeks, most people dont want to buy the houses for house number 3 and 4 at those prices. House # 2 barely is making money, and the profit on house number 1, which is now fairly negligible is the only good thing about it. Fustrated, and dismayed you sell the whole shabang, and decide to write some real estate books. However, the house that you bought for YOURSELF since youve lived there for quite a while is doing quite well.

This book is more about making money for Loftis. You probably know most of the content already. It is light on tax consequences or benefits. Pretty much buy, fix, sell.

The basic investing information in this book is solid, the problem is that the plan for gaining wealth is overly optimistic for many areas of the United States. Larry bases his wealth building plan on very fortunate appreciation that he experienced on his first investment property. Then as the plan is taught you refinance that first property after one year and use that money to buy another property. In Orlando, FL (where Larry bought his property) around that time the appreciation was 25%, but what about the least appreciating cities like the one where I live at 3%? Then the wealth building plan that Larry talks about goes out the window.
I thought the best part of the book was the info on closing, ideas that I have not reading anywhere else. Word of advice, skip over the property management chapter, the weakest chapter in the book where Larry advocates screening tenant by using your "gut". That is a recipe for disaster.

Strongly recommend reading this book regardless of your level of expertise. I've learned, been motivated, and have a better insight of investing in income properties. Very simple to read and understand.

The author is very knowledgeable, very honest with the subject because he actually practices what he preaches.

I brought about 3 books on real estate investing. I, too, have a three apartment building and a small investment property. When I look back a few years ago, I wish I actually have read this book to evaluate the potential purchases. I did okay in the end, but having to know the concepts and the GRM (Gross Rent Multiples) was the simplest thing to understand and only consistent way for me to compare investments properties. Other books tell you to compare the recent comparable sales, the replacement cost, building cost, etc to come up with the right figures. Frankly, those 'tools' mentioned in other books were not as useful as the GRM method mentioned in this book. The author also explains how the GRM changes, depending on the neighborhood and the locations. So, having that knowledge, I am able to compare properties very quickly to weed out the ones that I do not want. Once I have narrowed down the list of potential properties, then I can use the other methods to do the detailed analysis. I feel better now that I can now compare apples to apples. The sections toward the end were skimpy, but the overall value of this book is great. I recommend to a novice investor, as well as someone like myself who has been in it for about 6 years and still have a lot to learn.

Great book for beginner investors who want the basics of multi-unit investing. There are a lot of strategies that can be learned from his experiences.

This book would go great with another book I read called Bubble Proof: Real Estate Strategies that Work in any Market by Tonja Demoff. She has such a great attitude and spin on real estate investing.

This is a common-sense guide to investing in small multi-family properties. The author is speaking from personal experience and uses lots of realistic examples. Probably the equal of some so-called guru's boot camp.

This book is well written. It is an easy read and gives you the how to steps. If you are a first time real estate investor I highly recommend this book by Mr. Loftis. He brings years of experience and practicale knowledge to the game. With this book I was able to launch myself into the real estate investor game with all the fundamental knowledge necessary to be successful. I will be closing on my first quad in July/2007.

I was so pleasantly surprised when I read this book. I could not put it down and finished it on a short plane ride. The book is very honestly written to include mistakes made and learned from. There were actual scenarios that the author went through and a lot of information that is worth its weight in gold. I have been disappointed in the past with books that don't deliver. This one is a keeper.

I was disappointed in this book. I read the author's book on tax liens, which I thought was very good, and was expecting more. Maybe I should reread the tax lien book and reevaluate it.

While I've sold hundreds of properties of all stripes, my knowledge of investing in 1-4 families is minimal and I wanted to learn more. The author believes that quad-plexes are the best real estate investment and gives his reasons. The author believes in the buy and hold approach. He downplays the work involved in property management. I'm a believer that investors make their own best property manager, however most investors have neither the time or interest in managing their own properties. It's best if you are retired or otherwise don't have a day job.

The subject book was written with the unsophisticated read in mind yet is pretty detailed. I suspect that he loses a lot of unsophisticated investors. That said I did learn a little, but would read several more books on investing in 1-4 families before actually doing it.

The book has some value and you should read it along with many others if you are interested in investing in 1-4 families, but I wouldn't recommend buying it.

This book is a good read, whether or not some of his things he has done will work every time or work for you. It does give a good oversite on real estate investing is all about. His basic idea is great, and it really inspires to get something started. Since i've read this book I have almost have a 5 plex in my pocket. Listen to this book and listen well.

Friends, I was concerned (somewhat :-) when I saw the Esq. after the author's name. I was expecting that the writing would be a little hard to understand (read too complex). But my fears were unfounded. Larry Loftis has written a book on a complex subject but has written it so that anyone can understand.

This book is logically divided into four parts:
1. To begin, Larry builds the case for real estate investment.
2. In the middle, he covers both the buying and the holding and selling processes.
3. To end, Larry summarizes and reiterates everything previously covered but shapes it into a comprehensive wealth-building plan which can be modified for each reader's specific circumstances.

The book focuses on multi-family residential properties but seems to me a good part of the logic translates to most any real estate property.

I don't think Larry set out to write a motivational book on real estate investing as much as an informational one; but, he so thoroughly lays out the "whats" and "what fors" that this reader got excited about the possibilities. Read this book and I dare you not to get excited too!

The book is well written not a 5 because like most money makers he manipulates numbers to creat the illusion of wealth.

Stop reading, just buy this book right now! Mr. Loftis wrote a simple, easy to understand book that clearly explains how to build wealth from real estate. I have spent hundreds of dollars on real estate books that were not easy to understand or were just too technical or complicated. What makes me so happy about this book is the real world examples and financial calculations he presents as you read step-by-step. I am 37 years old with 30 years left until I will retire. I will use this book to build wealth and create the rent free lifestyle I so desire to have.

email this book to everyone you know.

This book is not primarily based on investing in duplexes triplexes and quads as it states. As I was reading through this book number 1 its very very basic someone who doesn't know anything about real estate should read this book, and number 2 it doesn't teach you about duplexes it teaches you about any type of real estate. This book is not worth it. Period.

This book clearly outline the 4 main objectives in Real Estate Investing. Such was supported & reinforced with multiple theorem, principles, concepts & practical applications. The best thing about this book,(which I like the most), the author is a new starter yet he multiplied his fortpolio in a very short period of time.

Himself as a beginner, he advocated duplex, tri & quad to spread the RISK & ensure constant stream of cash flow. I endorsed such idea since in many times I was squezze hard with 100% vacancy in my single homes & Condo investments. I dreaded whenever a tenant gives a 30 days move-out notice since replacement of responsible tenant is not that quick to find.

I improvised his concepts in a Condo unit I have by changing the Tenant. Instead of renting the whole unit to a family, I opted to rent it by the rooms particularly to single people. It changed my cash flow from negative to positive and would not again suffer any 100% vacancy in my Condo.

Another bright concepts he preached were the means of increasing your equity after the purchase. He espoused multiple approaches & supported it by facts and no wonder in a very short period, he multiplied his portfolio dramatically.

Since it's a buyer's market, I'm excited to hunt tri & quads as an additional portfolio. I'm more confident now since I know more how to buy a property and make a commision money from broker/agent. This is fun.

This book needs to be read by all who wants to get into wealth building. Anybody scared to take the first step, this is the book to read. This is not merely a motivational book but full of real bang to ensure your success. It's a confidence builder book and will take away your fear!

This book is well written and a quick read with a fair amount of repetitiveness. The author details his experience with rental properties primarily in an era of extreme appreciation of which he bases most of his theory on. I don't believe it is realistic to expect properties to increase at the rapid rate that he suggests which is the premise behind one of the plans he outlines which is to quickly refinance and purchase properties. Keep in mind that he is located in southern Florida which was one of the fastest appreciated areas of the country during the heyday of the recent real estate boom and it was during that time that he continuously refers to. It is my opinion that the author should temper some of his claims with the fact that not all investors will be able to execute his rapid fire acquisition strategies in an environment that is dissimilar to the one he had which was very unique and uncommon. What I'm trying to say is that his assumptions are absolutely "best case" scenarios which are unlikely to be duplicated by the majority of investors.

The one other area of the book that I had a problem with was in the area of tenants. He claimed that he doesn't run background, credit, etc. checks on prospective tenants and prefers to "go with his gut" on whether he feels the tenant is suitable to occupy his property. He goes on to say that if you invest in higher quality properties you will attract higher quality tenants. That is probably true but I don't think it eliminates the need to thoroughly screen prospective tenants. I'm not sure what it's like in south Florida but I can tell you that here in Washington state there is a big problem with methamphetamine labs in rental properties. The financial liability for the property owners is huge and not covered by insurance. When these meth labs operate out of rental property,(half of all labs found do) owners pay a high price that includes: civil penalties, property damage, decline in property values, dangerous and threatening tenants, resentful and angry neighbors, and loss of valued tenants. This is nationwide problem that every potential rental property owner should be aware of. In my opinion, to not perform absolute due diligence in the screening of tenants is unnecessarily exposing yourself to a disaster with serious financial implications. Of course the potential threat doesn't disappear just because the tenant passed the screening phase. There are other monitoring measures that property owners need to follow after the tenants move in to protect the property. My advice would be to spend the money and do the checks.

Overall, I did enjoy this book and would recommend it with the suggestion to readers that they play devil's advocate to arrive at a more balanced perspective of this particular type of real estate investment investing.

Well on one hand I want to let you know what this book did for me and on the other hand I want to increase my chances of successfully investing in real estate....

This was a very good book about real estate, and gives a clear strategy on how to establish yourself as an investor while taking advantage of tax scenarios. Eve further he gives great references to other books that he reccomends, of which I have read many. The reason I dont say this is a great book is that there are some things that arent addressed very well. For instance, this book is written from the perspective that you will have rapid inflation appreciation on housing, and that multifamily residential is at even pace with single family (it isnt). It also doesnt consider interest rates (rising) as it relates to refinincing - and whether that is a good idea. Instead it treats rates as a constant. Other than that, this is a really good book.

Mr. Loftis keeps it simple and provides a good argument for his approach to wealth building.

Loftis clarifies an often misperceived investing venture, that you can only invest in rentals alone. Being in organizations or being part of an investor group allows you to run rentals hassle free w/ good returns. Very good book. Other recommended real estate book: Investing Without Losing (ISBN 0978834607 NOT on amazn, other stores)

loftis clarifies an often misperceived investing venture, that you can only invest in rentals alone. being in organizations or being part of an investor group allows you to run rentals hassle free w/ good returns. very good book. other recommended real estate book: Investing with out Losing By Sausa

Instead of delivering a few nuggets of information, this book delivers the gold mine. It's written so well that page after page, chapter after chapter, it delivers just the right information at just the right time. I couldn't put it down and read through it in just 3 evenings after work (I can't believe I'm saying that about a real estate investment book).

The author gets right to the point and gives you the facts about what works and what doesn't work for investing in real estate. He shows you how investing in multi-family properties (2 - 4 family dwellings) is the easiest, lowest cost, and least risky way to get started making your fortune. He takes you from knowing nothing to being fully armed and ready to go make your first purchase. Best of all, he shares many intimate details on his own purchases, deals he walked away from, and deals he wished he would have completed.

When you're done with the book you understand: 1) how to find properties, 2) how to determine the value of a property, 3) verification and due diligence, 4) the process of making offers, 5) how closing works and what to expect, 6) managing your property, 7) the ins and outs of the three key real estate growth strategies: Buy and Hold, Refinancing, and Pyramiding.

Now that I have read this book, I'm already out looking at multi-family properties and will soon be completing my first purchase. I'm just an average guy with not much in savings, but with what I have learned from this book I can see a clear path to making several million dollars in real estate in just a few years. All that for just the $12.97 I paid for this book on Amazon... it almost seems unfair.

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

I am an owner of a few rental properties which I kind of stumbled upon but which have provided me with some steady income. I was intrigued and decided to pick up Mr. Loftis' book.

My experience has been in lower class neighborhoods. While Mr. Loftis touches upon investing in areas such as those, he prefers to buy triplexes/fourplexes in "yuppie" areas. He clearly states that the monthly income from the lower class areas is usually higher, but that the appreciation in the higher end areas more than makes up for that.

Loftis' explanation is quite detailed. He explains how to use the GRM to help you find a suitable property. By fixing up your property in a high GRM neighborhood, you can build considerable equity.

He also explains how he chooses his renters and has some example leases that you can use. He debunks some of the "wisdom" spewed out by many of the real estate "gurus". He explains how to use a 1031 exchange to free up some capital for further investment and how you can use refinancing to do the same.

In short, there is everything here to get you started on your way to being a successful residential multifamily property investor. Give the book a try...

After owning 3 condos I decided it was time to move into multi-unit properties. I had some basic knowledge, but wanted to know what I didn't know and some tactics and strategies as I moved into this new realm. Mr. Loftis took a very structured look at the subject from beginning to end and refreshingly also gave credit to other authors and acknowledged there is more than one way to skin this particular cat. The one thing I would say is the appreciation numbers are likely a bit optimistic for most areas considering where the real estate market appears to be heading(8/2006), but if you can't modify them for your area you shouldn't get into the business. In short, an excellent book - both informative and well written.

I purchased this book last week and have not been able to put it down. It is full of great information and has been really helpful in teaching me how to go about investing in these types of properties. I would definately reccommend this book to beginners or advanced real estate investors who want to recharge thier batteries! A++

I saw this book in Newsday newspaper in real estate section and decided to buy it. Its worth reading it. Great tips on In vesting in multiple familiy houses.

I liked this book. If you have little money to invest and you'd like to start with residential multifamily properties, then this is a good book to read. Easy to understand.

I like this book. It gives me the tools I need to start investing in real estate. There is more than one way to invest, and Larry Loftis explains the different strategies in a way that is easy to understand. He also explains his own approach and shows how it has worked so well for him. If you want a good primer on how to get started, and how to keep going, I recommend Investing in Duplexes, Triplexes and Quads: The Fastest and Safest Way to Real Estate Wealth.

I really enjoyed this book. Larry does a great job focusing new investors on 2-4 family apartment buildings...otherwise known as residential multifamily properties. They are easier to finance, manage and are typically owned by non-institutional investors so the potential for negotiating more favorable deals with the sellers is greatly enhanced. In my own book, 2 Years to a Million in Real Estate, I subscribe to the same philosophy regarding property acquisitions and agree that investors need to buy at least a triplex to generate a positive cash flow. If you acquire a property for appreciation only and it doesn't generate a positive cash flow, you might not last very long in this business.

Matthew Martinez
Author: 2 Years to a Million in Real Estate