Real Estate Investments and How to Make Them: Third Edition

This is a beginning book on real estate investing. If you are already experienced in real estate, then this book might be a bit too simple. I really like the chapter on rules of thumb concerning capitalization rates, gross rent multipliers, and net operating income multipliers. Yes, all the properties are different, but it is nice to know the ranges, and that's why these rules of thumb come in handy. I was surprised that this book covered property types such as apartment complexes, hotels, office, mobile home parks, and shopping centers. For those of you that are not familiar with mobile home parks, they are incredible investments. And, no, you do not own the trailers. You only own the lot underneath. Renters own their trailers, and they are unlikely to default or leave because if they do, they will have to move the trailer, which costs a lot of money.

- Mariusz Skonieczny, author of Why Are We So Clueless about the Stock Market? Learn how to invest your money, how to pick stocks, and how to make money in the stock market

I like Milt's style. Direct and no hype. This is a good book for the real estate investor who has either read several books on real estate investment (especially the over-hyped no-money down types) and/or has begun a modest investment program and wants to go to the next level.

I would not recommend this book for anyone who has already had substantial experience in real estate investment as many of the ideas that the author presents will seem overly simplistic.

The author's assertion that the numbers work the same whether purchasing a smaller property or larger simply didn't ring true to me and don't bear out in the real world. There is a huge difference between investing in a 4-plex and a 40-unit apartment building.

Nonetheless, it's a book worth reading and to refer back to.

Edvard Redding Richards
Author of Fire Your IRA !

basic beginners book. A little better at the math than most, in that it actually covers numbers. Yes, the book is 8 yrs old and the interest rates used are a little out of line, but the formulas are the same. One beef I have with books like these is that they rely way too much on appreciation to make an investment successful. Tanzer uses 5%! Yes this happens in certain areas, but never on a consistent basis, and definitely not in all areas. The way to invest and not speculate is to not count on inflation or even appreciation in your purchase numbers, then when it happens its just tacked on as a bonus when you sell the property.

His info on where to find funds is pretty basic. Laughable when he gets to "Sources You May Have Overlooked" and his big idea is, drumroll please....family and friends! Puh-lease!

Some versions come with a disk tutorial. Did not review this.

The book is good for opening the readers mind to the possibilities of real estate investing. I was amazed at the number of miscalculations and typing errors counting nearly 100. I have an advanced degree in Finance and found this book to be horribly inaccurate, as far as the numbers. Some of the rates of loans, inflation, and Caps you will never see in your lifetime. Based on his numbers property values would have to be half of their current value and produce the same income. Good for principals for the very beginner, please read other books before you really invest or you will have a rude awakening. I recommend a college text. If you don't understand it you have no business investing in real estate.

After looking around for several years and trying to decide on exactly what venture I should go into I decided on real estate. I was browsing the shelves at Borders and just came upon this book. I picked it up and finished it in about 8 days. The book is written in a plain and practical manner. A very conversational style so that the author actually is speaking with you and not at you. The book offers some very practical, step by step suggestions that can be applied in real world situations. He provides numerous charts, graphs and tables that can be used when doing your property research. This can be applied to commercial and residential property. I am a total novice when it comes to real estate investing and I am actually thinking about getting my license here in NY. In addition to this book I would suggest that you read a few others just so you can get a well rounded idea of just exactly you might be getting into. The author does declare not to jump into things but once you find the right property - jump on it and go for it. Many a great deal have been lost due to fear and hesitation. I also highly suggest you read "Rich Dad, Poor Dad" and "The Richest Man in Babylon"