The ABC's of Real Estate Investing: The Secrets of Finding Hidden Profits Most Investors Miss
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Partners are valuable because they allow you to own smaller positions in a number of properties rather than a big position in just one (p.3)
"All things are difficult before they are easy" (p.4)
When you buy a house or condo and rent it out, appreciation of the property rests solely on the appreciation of the surrounding neighborhood. When you ...more
CHAPTER 1 THE MYTHS AND THE MAGIC
Myth 1 You Have to be already wealthy to invest in real estate
Partners “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 risky
Some 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
Would recommend to people who are struggling with knowing the real value of their property, the managing process, or just simple want to sell/buy a property but has not known where to start.
The book also has very cool examples (and interesting), a critical insight on dealing with the papers, team members and stuffs, etc.. Just read it and you will see how cool it is. Totally worth the money ;)
i liked how to make the valuation of the property. However, the author talks as a property company not as an individual investor which made difference for me. for example he often says , i asked my team to help me get the number. But i am not a company and i do not have a team.
Also, it applies more to the American mar ...more
And to comment on that point I think that is one of McElroy's intentions in writing the book it seems fair to say that numerous people within real estate investing see it as exactly that. It is a passive activity, whereby you buy a property, get a property manager and let the cash ...more
I have only read one real-estate book other than this one, which means that my knowledge about real estate isn’t even near adequate. But despite of that, this book still didn’t provide me with more proper information in real estate that could enhance my insight of the field.
The “ABCs” in the title suggests that it’s meant for beginners, and will go on in everything a beginner must know, but the truth is, I feel that many important aspects of real-estate investing have been skipped. Also, th ...more
% step property evaluation:
verify property income
determine net operating income.
find the capitalization rate and valuation
calculate the loan payment and your profit or cash on cash
earnest money is refundable
a contingency clause defines a condition or action that must be met for a real estate contract to become binding.
social media is a strong marketing strategy you may not even need to pay for marketing.
Identify utility, insurance, a ...more
I actually listened to the audible book, and the narrator did a great job delivering Ken's message, as if I ...more
Nevertheless Ken paints a clear path by being honest and upfront with the challenges that will face real estate investors and a game plan on how to avoid common mistakes.
Ken changed the way I think about rental real estate investments and provides a lot of advices that will save you money in the long run.
Every chapter contains practical actions to do in order to implement what you've just learned during the chapter so the content will sink in.
I liked the book and will refer back to it when doing deals, but I would partner it with other books as well for a more technical approach.