Financing Real Estate Investments For Dummies
| Date: 28 April 2011, 07:40
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Financing Real Estate Investments For Dummies (For Dummies (Business & Personal Finance))
By Ralph R. Roberts, Chip Cummings, Joe Kraynak
* Publisher: For Dummies
* Number Of Pages: 288
* Publication Date: 2009-04-13
* ISBN-10 / ASIN: 0470422335
* ISBN-13 / EAN: 9780470422335
Product Description:
Your practical guide to scoring cash to fuel your real estate investments
Want to be a smart, successful real estate investor? This no-nonsense guide contains everything you must know to make the right choices about financing your investments — from the various options available and the impact on cash flow to the tax implications and risk factors involved. You also get tried-and-true tips for surviving a down market and using current investments to finance future ones.
* A crash course in real estate financing — understand standard terms and concepts, learn the various sources of investment capital, and gather all essential facts and figures
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Weigh your options — decide which type of financing is best for your circumstances and incorporate it into your real estate investing plan
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Finance residential properties — evaluate residential loan programs, navigate the loan application and processing, and handle the closing
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Invest in commercial properties — know the different property types, choose the one that meets your investment goals, and discover unique sources for financing
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Tap into unconventional sources — discover the pros and cons of "hard money," capitalize on seller financing, partner to share risk and equity, and invest on the cheap with no-money-down deals
Open the book and find:
* Real-world advice on financing without tying up all your capital
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How to get prequalified or preapproved for a loan
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Questions to ask your lender upfront
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Ways to avoid common beginner blunders
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How to protect your personal assets from investment risks
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Bargain-hunting hints for low-cost loans
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Strategies for surviving a credit crunch
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Ten pre-closing steps you must take
Summary: Perfect for new investors!
Rating: 5
As a "seasoned" real estate investor, I did not expect much from this book. Considering the typical "Dummies" format, there woudn't be much in there for me, right?
Wrong. I was pleasantly surprised to find a well thought-out detailed approach for evaluating investment properties, and various financing options. While time and the market have changed some of the finance options, the content on NOI and cost evaluation are right on, and the authors did a terrific job in making sure that novice investors understand that this is a BUSINESS decision, not an emotional one. The bottom line is that the numbers have to work.
I have enjoyed other books by Chip and Ralph, and was glad to add this to my collection. It would be a great place to start for any individual just getting started in the real estate investment game - and there's even some good stuff for us old pros ;-)
Summary: Good advice for beginners
Rating: 5
Typical of a "Dummies" book, the format is easy-to-read and follow, with a LOT of great content.
Authors use a lot of examples and provide good formulas for calculating value and NOI numbers. Does not go into enough detail for larger properties or more complex deals, but again, understand the "format" is for beginners.
Added this to my bookshelf as I have enjoyed other books by the authors, and looking forward to more material in the future. Definitely recommend this for anyone starting out in investment real estate.
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