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The book displays a bit of a split personality, Reviewed in the United States on July 21, 2020. This book does tend to focus on commercial real estate which I would warn new investors towards as I hold the belief of starting small and building big. The ABCs of Real Estate Investing: The Secrets of Finding Hidden Profits Most Investors Miss (Rich Dad's Advisors (Paperback)) eBook: McElroy, Ken: Amazon.com.au: Kindle Store “The management plan will define the key strategies you will use to either cut expenses, increase income, or both. Overall this book is a really good guide on getting started with real estate. I wonder what he would say to the millionaires who made their money by using other real estate investment strategies. McElroy reviewed how to analyze properties and their P&L statements, and how to put together a team (actually...that first). Your recently viewed items and featured recommendations, Select the department you want to search in. Start by marking “The ABC's of Real Estate Investing: The Secrets of Finding Hidden Profits Most Investors Miss” as Want to Read: Error rating book. “Being too far out on the fore front of things can be expensive and dangerous. Author Ken McElroy is CEO of his own real estate firm and has 20 years of real estate experience. And the end of each chapter, it gives you a summary of what you need to do. The ABCs of Real Estate Investing: The Secrets of Finding Hidden Profits Most Investors Miss (Rich Dad's Advisors (Paperback)) [McElroy, Ken] on Amazon.com. Sometimes I couldn't tell if it was geared toward residential properties like SFH - quads, or large apartment buildings. Read The ABCs of Real Estate Investing: The Secrets of Finding Hidden Profits Most Investors Miss (Rich Dad Advisors) book reviews & author details and more at Amazon.in. Reviewed in the United States on April 1, 2017. This book was an easy read, yet full of some excellent facts on working in real estate investing. Great book if you are interested in learning more about the subject. Read "The ABCs of Real Estate Investing The Secrets of Finding Hidden Profits Most Investors Miss" by Ken McElroy available from Rakuten Kobo. I look like a genius because I understand the basics and I build upon my knowledge with the internship! Knowledge is not power until it is applied, and through application we get experience, and experience is what gives us confidence. The book is also of great value to working professionals. This page works best with JavaScript. It is after the letter of intent. You can find the book here. If you are looking for information about purchasing houses to rent out, this book is not for you. Great Real Estate Knowledge from this book! If you are seriously considering to transition into multifamily investing, the first book you should read is The ABCs of Real Estate Investing by Ken McElroy.It is one of the only books that will teach you how to find, underwrite, negotiate, manage and prosper in the multifamily space. Cheers. This is not clear when you read the back of the book. The ABCs of Real Estate Investing teaches how to:Achieve wealth and cash flow through real estateFind property with real potentialShow you how to unlock the myths that are holding you backNegotiating the deal based on the numbersEvaluate property and purchase priceIncrease your income through proven property management tools I thought this was a great book for those in the beginning stages of real estate investing. It was the right amount of information to get a quick read over a long plane flight and lead me in the right direction. I will definately take this one up again to read some chapters so a 4-star review seems in order for me. 565 Previews . Fees paid for professional services (an attorney and accountant).3 Marketing and advertising4 Management costs5 Repair and maintenance costs6 Property taxes7 Insurance8 Utilities9 Capital repairs, CHAPTER 11 You Own it… Now What?Property manager should do the following:1 Solving problems daily2 Handling staffing issues3 Leasing the property4 Increasing the cash flow5 Legal and contracts6 Maintenance7 Rent collection8 Paying the bills9 Managing the budget10 Evictions11 Customer serviceIf you want to hire a property management company, ask them about the following:1 Property management fees2 Time in business3 Accounting software and capabilities4 References5 Policies and procedures6 Professional affiliations and associations7 Training programs8 Real estate licenses9 Legal and background checks10 Vendor negotiations11 EmployeesWhen to fire your property manager:1 When the property does not perform well as anticipated2 When the property does not improve its operations year to year3 When the property really outperforms expectations because management is easy and a management company is not neededMistakes you should avoid:1 Renting to the wrong person2 Not taking care of your current residents3 Not budgeting for the unexpected, CHAPTER 12 To Sell or Not to SellWhen you want to sell your property, you need to:1 Maximize your future potential income. Ask every team referral.Remember that all the information you will gather in your research is free! Prime members enjoy FREE Delivery and exclusive access to music, movies, TV shows, original audio series, and Kindle books. Packed with tangible advice that can be immediately put to action! Tell people about your goal.2 Plan and set milestones.3 Persevere and drive thorough all obstaclesKeep you focus and discipline. And it had my favorite thing - formulas to analyze just how good (or bad) an investment is, from a cashflowing perspective. But if you are a looking to invest in smaller properties, like single family homes or duplexes, the advice in this book is more complicated than I would imagine you need. The ABCs of Real Estate Investing Ken McElroy Review by Sharon Secor. This is a must read for anyone hoping to begin investing in real estate in any way. Let us know what’s wrong with this preview of, Published It goes step by step through how to make a purchase, and how to do your due diligence, so you can be confident in your investment. Good book on how the real estate industry works. It goes step by step through how to make a purchase, and how to do your due diligence, so you can be confident in your investment. This is intended for those looking into large-scale investing in apartment complexes and the like. this was a great book about details of real estate investing. If you are wealthy but lack overall business acumen or basic real estate knowledge and want to grasp the overall complexity of this operation then this book is for you. 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 … Disabling it will result in some disabled or missing features. I learned alot about how to make investments more strategic and less risky. This title enables readers to learn how the cash flow generated from property investment appreciates in value and ensures financial freedom, as well as the freedom to be your own boss. Goodreads helps you keep track of books you want to read. Will definitely read Ken's other books! See all details for The ABCs of Real Estate Investing: The Secrets of Finding Hidden... © 1996-2020, Amazon.com, Inc. or its affiliates. He did seem stuck on larger properties, and left me hanging with a few questions about smaller investments, but nothing overly required. And it had my favorite thing - formulas to analyze just how good (or bad) an investment is, from a cashflowing perspective. A very easy read, and very informative. No. Now that I have a solid understanding of personal finance and economics, I wanted to go to the next level and understand a bit more about real estate investing. The real gem for me is the Five Step Property Evaluation process. This book will be referred to very often. Highly recommend this read for beginner or even amateur investors! I was a bit disappointed. By the way, this … The information is not only useful for people who want to know about investing, but also for people about to pick out a home to buy for themselves. Employment and town persona are population draws. Sri Lanka has Nine Provinces and 25 Districts; with its metropolitan city of Colombo subdivided further into 15 parts, there is a range of real estate to choose from to invest. This is the authors experience and should be taken as such. I haven't read a book this good in a while. Refresh and try again. The ABC's of real estate investing : the secrets of finding hidden profits most investors miss by McElroy, Ken. The key to being a successful investor is studying how to forecast future expenses and incomes. It talked about the importance of property management, why you should rely on cashflow and not appreciation to be successful in real estate, and how to get partners for a deal. In bad deals, they do not.You need to know the following three things:1 The seller’s asking price is irrelevant2 You determine the property value, which becomes your offer3 With multiple units, the property value is based on the current cash flow of the propertyThe Five-Step Property Valuation1 Verify property incomeCheck a pro forma document and rent roll.There are three types of income to consider with any property:1 Actual income: The total income the property generated in the prior twelve months2 Actual potential income: The total income the property could have generated in the prior twelve months had all units been 1—percent occupied and had the owner taken advantage of all other income opportunities3 Future potential income: The total income the property could generate at today’s market rents, 100 percent occupancy, and taking full advantage of all other income opportunitiesBuy based on actual income!Do not forget vacancies and turnover from residents moving in and out.2 Verify expenses. You can do it inside your house. I was led to believe this book could help me Understand the ABC’s of home real estate investing. It also analyzes reviews to verify trustworthiness. With the advises in that book I have learned a lot about property management and the things a property manager is responsible of. But if you are a looking to invest in smaller properties, like single family homes or duplexes, the advice in this book is more complicated than I would imagine you need. Sometimes I had to let the information sink in for a while, since I am not too much of a numbers guy, but I feel like I eventually got the gist of it. It will walk you though the entire process of considering, evaluating, writing offer, and managing. *FREE* shipping on qualifying offers. Although it's called the ABCs I feel like it's not the best first book to read since it simply goes headfirst into large multi-family investments, which is not necessarily how everyone wants to start. McElroy has an arrogant writing style and self-centered content, which makes this book hard to read. With the basics discussed and outlined, it’s time for practice! Look at the employment and presence of companies as well as employment stability; how stable the employment base is.2 Population. To calculate the overall star rating and percentage breakdown by star, we don’t use a simple average. If you find yourself in that group, I recommend you build yourself up to the point where you are confident in yourself and in your abilities first. Source: (William Bout / Unsplash) 3. Reviewed in the United States on May 25, 2016. Supply is “the number of rental properties available in a market or submarket.” Demand is “the number of people looking to rent.” Ask brokers and property managers to find out these information. Even a great deal is meaningless if nobody is around to lease it. Read honest and unbiased product reviews from our users. The ABCs of Real Estate Investing is designed to inform any student of finance as well as anyone else dealing with investments. If you are trying to buy and invest in apartment complexes this is a great how to book. Publication date 2004 Topics Real estate investment Publisher ... plus-circle Add Review. After viewing product detail pages, look here to find an easy way to navigate back to pages you are interested in. In The ABCs of Real Estate Investing, real estate investor and property manager Ken McElroy shares to have success in the rental real estate business. Now is the best time to invest in real estate.With motivated sellers, prices are reasonable, lenders are willing to lend and interest rates are low.With lower interest income, savers are in search of a better investment alternative of which, real estate is the answer. I also like the formulas to find out the cap rate, Property value, etc. CHAPTER 7 IS IT REALLY A DIAMOND?In good deals the numbers work. Love the positive goal setting that the book starts out with! 1,285 global ratings | 490 global reviews, THIS BOOK IS PERFECT FOR BEGINNER REAL ESTATE INVESTORS, Reviewed in the United States on February 26, 2017. I currently am interning at a real estate investment company and many of the themes presented in the book are exactly how my bosses view the investment world. I didn't get a lot out of it because my interest is in buying single family houses as rentals. Make yourself accountable to somebody. This was a great book - easy to read and follow. £6.64. The book is simple to read and carries some importa. One of the best and most informative books on real estate investment I've read yet. One comment I read on here was that it takes courage to do, and I couldn't agree more. Myths of real estate investing: you have to be wealthy, big deals are too risky so start small, flipping places or using no money down will get you rich, some people are just always lucky, you need to know everything, you don’t have time, you need connections to start, and you need to be a skilled negotiator. With the ABC’s term used in the title it would suggest a reader that is less financially capitalized and less biz savvy and likely to be purchasing far smaller properties. He did seem stuck on larger properties, and left me hanging with a few questions about smaller investments, but nothing overly required. Also, I have learned how to calculate the income of the property, the offer price to buy a property and many other calculations. comment. I gave it a five star because I like how the books breaks down into steps. “This is where you communicate all the specifics of the sale, in other words you list exactly what each party is going to do to complete the deal.” Do not forget the statement: “All units must be rent-ready at close of escrow.”, CHAPTER 9 DUE DILIGENCE: THE EASTER EGG HUNTDuring the due diligence phase:You need to conscientiously review every document pertaining to property operations.You need to perform thorough walk-throughs of every apartment unit.You need to pay careful attention to every detail.You need to be thoughtful about how you can improve the property and cut expenses.You need to be attentive to the tasks and deliver them on time.You need to be meticulous in your evaluation and reporting.It is the time when you make detailed assessments of actual costs for property improvements, ongoing maintenance, and operations.The Due Diligence Checklist1 The File Audit2 The Interior Inspection3 Government Agency Reviews4 Service Agreement Review5 Exterior InspectionYou also need to check the books and records, obtaining information for your operating budget by categorizing the income and expenses. They are very important. So negotiating based on it is time wasting. Can't wait to apply it to my own portfolio within the year! The more cars that pass by your property and see your “For Rent” sign, the better your chances of success.2 Great locations possess a rare quality.3 Great locations are in demand. I was looking for a lot of answer but got less than half of them answered. Six days a month, a wide range of people troop to the Asian Institute of Management Conference Center to attend a lecture series on real estate investment. In this way you depend on appreciation as well to make money. I know I will still make mistakes, but this book has gotten me started and given me some foundation. ABCs of Real Estate Investing : The Secrets of Finding Hidden Profits Most Investors Miss, Paperback by McElroy, Ken, ISBN 1937832031, ISBN-13 9781937832032, Like New Used, Free P&P in the UK Outlines how to achieve financial independence and successful self-employment through property investment, discussing such topics as screening potential partners, utilizing research tools, and setting … Also, I have learned how to calculate the income of the property, the offer price to buy a property and many other calculations. For me, it’s not likely I would read it twice. For investors who want to learn the basics of Real Estate investing, THIS BOOK IS FOR YOU. A very easy read, and very informative. Review the following:1 Twenty-four months of income and expense statements2 All service agreements3 Current rent roll4 Utility bills5 Payroll information, CHAPTER 10 MAKING SENSE OF IT ALLYou need a property management plan and an operating budget. Find helpful customer reviews and review ratings for The ABCs of Real Estate Investing: The Secrets of Finding Hidden Profits Most Investors Miss at Amazon.com. We all have to go through this stage. I learned a lot from this book, so much that I am ready to delve into the real estate market. If you are looking to learn how to save tax, and acquire residential single family homes, this book wont help at all. But watch out for:1 Resilience. There are three drivers of supply and demand:1 Employment. The book is simple to read and carries some important informations for beginners. It talked about the importance of property management, why you should rely on cashflow and not appreciation to be successful in real estate, and how to get partners for a deal. Be the first one to write a review. by Business Plus, Rich Dad's Advisors®: The ABC's of Real Estate Investing: The Secrets of Finding Hidden Profits Most Investors Miss (Rich Dad's Advisors). Overall this book is a really good guide on getting started with real est. The best book for what I was looking for is HOLD. I have read countless books on real estate. The ABCs of Real Estate Investing: The Secrets of Finding Hidden Profits Most Investors Miss - Ebook written by Ken McElroy. I probably don't need an accountant and a tax consultant for buying a duplex. This book so far showed me that there is no secret serum for an amazing real estate investor. You need to read the book business guide to help you run the business. This book makes investing seem possible for the average Jane or Jo. 2. Make your rental rates at the market rate in the area, even at the expense of occupancy. Step 1: Research and find your ideal home. Fairly decent guide to multi-family commercial properties. Good book on how the real estate industry works. Great book with some very clear insights. A champion and advocate for entrepreneurs and real estate investors, Ken has spoken worldwide at top industry events. Top subscription boxes – right to your door. Get ebook summary of The ABCs of Real Estate Investing by Ken McElroy and review . Not quite what you are expecting it to be, Reviewed in the United States on September 23, 2019. I probably don't need an accountant and a tax consultant for. You will not find all the answers to all your questions/concerns, nor a step-by-step how-to formula in this book. I was expecting to learn about duplexes, triplexes, and 4-plexes, but this book is talking about 5+ unit buildings which are a different class of property and are an entirely different type of real estate investing. CHAPTER 5 SWAMPLAND FOR SALEAn important lesson from the poor people who have purchased swampland is that “the market is more important than the property.” You should evaluate your market and submarket. It was very specific on what to do, and what not to do when investing in multi-family real estate. There’s just an odd disconnect when you market a book purportedly for the beginning real estate investor, you fill it with pretty elementary accounting exercises, then feature scenarios that would be well out of the reach of the likely reader. Worse yet, most of the examples used are 100+ unit buildings! Everything from how to find good deals to how to analyze them and. Thanks for reading. Read honest and unbiased product reviews from our users. Demand has many indicators like:1 Occupancy rate. This book changed my life! This book provides the reader with the secret methods of gaining profit through investments. Chapter 7 of this book is my Bible for crunching numbers on a property I am going to invest in. It is time for face-to-face meetings. You would be an ideal candidate for the author’s investment company as you would be likely unwilling to deal with the minutia of this business. 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