How to Get Started in Real Estate Investing

by Robert Irwin

A PAPERBACK ORIGINAL The perfect introduction on how to get in on today's hottest investment opportunity Stock markets rise, and stock markets fall, but real estate is almost always a sure thing, especially in today's increasingly unpredictable investment climate. That's why more and more average Americans are becoming interested in pursuing real estate investing. How to Get Started in Real Estate Investing shows them how. Writing for investors with little or no experience in real estate, bestselling real estate author Bob Irwin walks readers through all the ins and outs of real estate investing. In a friendly, reassuring, no-hype style, he fills them in on everything they need to know to start building a winning real estate investment strategy of their own­­from how much money they'll need to get started, to how to find and evaluate properties, to the basics of financing and taxes. He delineates the seven major techniques used by successful real estate investors and provides guidelines for choosing and adapting the right one for individual readers' goals, personalities, and budgets.

Genres: Business, Audiobook, Finance, Money

256 pages, Paperback

First published May 29, 2002

About the author

Robert Irwin’s career in the real estate industry encompasses more than three decades of experience as real estate broker, landlord, and consultant to lenders, agents, and investors. He is the bestselling author of more than 50 books on real estate, including The Armchair Real Estate Investor, Fix It, Stage It, Sell It - Quick!, Buy Your First Home, The For Sale By Owner Kit, McGraw-Hill’s Tips & Traps series, and the latest edition of Buy, Rent, and Sell. A long-time voice of authority, Robert Irwin addresses landlording, investing, and homebuying issues with crystal clarity.

Reviews

[Daniel · Rating 4 out of 5]

I read the 2008 edition, which includes helpful commentary on the collapse of the housing bubble. Of course, since I am not a real estate investor, it is hard critique this books based on my experiences, but I found it informative and helpful in gaining an understanding of basic real estate investing.

I specifically liked this book because it talked about the honest and true principles for being successful in real estate, as opposed to the shady wheeling and dealing that a lot of the "get rich quick" books tend to offer. I find Irwin's advice compatibly with my values.

The piece of advice I liked best: The author suggests starting with a residential property first that you plan on moving in to. You get better financing that way and the risk is reduced considerably during your most inexperienced time in your investing.

[ANNEstories · Rating 4 out of 5]

This book is a perfect reading assignment if you want to get your Real Estate Investing game going. It’s very affirming how this book presented that Real Estate wealth tends to be illiquid, you‘ll have very little cash in the bank. Spoken of as „cash poor“ - a common condition for real estate investors. And that is Okay. Why not invest your money rather than save it in the bank?

Robert Irwin showed different perspectives of being a seller, a buyer and even being a Landlord.
He explained clearly the ins and outs of property agents- the good one and the bad.
The things you should look out for in closing contracts like escape clauses- to protect yourself from a cash drain.
The various properties you can buy and profit from single family houses to apartment buildings and office spaces. Buying at low market prices and selling high via tweaking a „neighborhood loser“ property. But first, you must cash out for the refurbishing and the improving before you can cash in.

One thing he said that stuck: to rent relentlessly and hold properties for market highs.


„“
Economic crisis will happen whether you invest or not. So why not INVEST AND HOPE FOR THE BEST.

You need to understand that you‘re in it for a long term.

You should plan on holding real estate investment for the long term because you are building your net worth.

How long will it take to make my fortune in real estate? The answer is figure on as much as 10yrs to 20.

After all, you don’t wanna dive into a pool until you‘ve determined how deep the water is.

You shouldn’t dive into real estate until you plumbed the financial depths involved.

When the sellers don’t get along with your offer, you remember football and punt. Move on to the next property. Keep making offers until you find one that does.

[Galaxyflyer · Rating 3 out of 5]

I listened to this book wile I was working today.

It had some good examples with some morals to the stories. The book of Mormon also points out morals to some of the stories there in.

It says do this on the side and not full time.
Agents want to get house sold fast, so they are good help you get a house for a lower price.
a house on the market for more then 3 moths is more likely to make a deal.
look for phrases like highly motivated, bring in all offers, wants to move immediately.

If they are not willing to sell at a lower price then find always drop it and find another.

foreclosures
REOs(Real estate owned)

[Steve]

A very light overview of some of the topics and terms involved in real estate investing. Not a get-rich-quick book, but does still suffer from the it's-incredibly-easy syndrome. Has a few good web references such as ccim.com, landlordassociation.org, and thelpa.com.

[Atchisson · Rating 4 out of 5]

Good stuff. Attractively packaged. Still not all that much new. One of the better on the topic for beginners, though.

[Christina · Rating 4 out of 5]

Good intro

[M. · Rating 4 out of 5]

Very good!

[Marci Antoniuk · Rating 3 out of 5]

Informative, but outdated.