The Wall Street Journal. Complete Real-Estate Investing Guidebook
by David Crook
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Book Summary Information
Author: David CrookEdition: Paperback
Audio: English (Unknown); English (Original Language); English (Published)
Published: 2006-12-26
ISBN: 0307345629
Number of pages: 256
Publisher: Three Rivers Press
Book Reviews of The Wall Street Journal. Complete Real-Estate Investing Guidebook
Book Review: Excellent Real Life Guide- A Must for Newbies and Pros Alike
Summary: 5 Stars
Whether you are just starting to think about investing or if you have been researching and buying for years, you should read this book. It clearly explains all the essential steps to becoming a successful investor and reveals many of the myths of real estate success. The author, David Crook, does not try to sugar coat the process one bit and can be brutally honest about the mistakes people make and the effort that is actually required to be an investor.
Crook covers all types of investment properties from single family and multifamily homes to apartment complexes and commercial spaces. He delves into the ups and downs of each type and doesn't fail to mention all the risks involved in each. Crook also explains in great detail and through some real life examples how to use tax laws to your benefit. He advises you on how to use the properties depreciation to off set profits and how to sell a property and trade up so that you don't have to pay any capital gains. The income and investment charts are especially helpful in this portion of the book by demonstrating exactly how the tax deductions will save thousands.
The chapter on being a landlord is a very important piece of the puzzle. Crook covers everything from finding tenants, writing leases, and where to keep rent checks. Some horror stories are included here to make you realize just how hard it is to rent a space to strangers. As with the rest of the book he is not trying to discourage you, he just wants to give you the mot honest look at what you're getting yourself into.
If you decide that buying a property and trying to rent it is not for you, Crook finishes up by explaining how Real Estate Investment Trusts work. REITs are companies that invest in and manage properties and they sell their stocks on Wall Street. While buying REITs is not truly investing in real estate, it is a way for you to try reaping the benefits of someone else's investment experience.
As an experienced Realtor, I highly recommend this book to anyone thinking of investing in properties. It covers all the groundwork and will give you a real taste of what you're getting yourself into.
Summary of The Wall Street Journal. Complete Real-Estate Investing Guidebook
The conservative, thoughtful, thrifty investor?s guide to building a real-estate empire.Profitable real-estate investing opportunities exist everywhere as long as you know what to look for and understand how to make prudent deals that transform property into profits. David Crook, of The Wall Street Journal, shows how to make safe and sane investments that ensure a good night?s sleep as your real-estate portfolio grows, your properties appreciate and your income increases. The Wall Street Journal Complete Real-Estate Investing Guidebook offers the most authoritative information on:
? Why real-estate investing is a great wealth-building alternative to stocks and bonds and why it?s crucial that you avoid get-rich schemes
? How to get the financing and make the contacts to get started
? How to start small and local, be hands-on and go step-by-step with a vacation home to rent out, a pure rental property or a small apartment building
? How to find and value great properties, do the numbers and ensure you have that beautiful thing called cash flow
? How the government blesses real-estate investors with tax breaks and loopholes, and how you can be one of the anointed
? How to deal with the nuts-and-bolts of being a landlord and have a strife-free relationship with your tenants
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