- Paperback: 240 pages
- Publisher: McGraw-Hill Professional; 2 edition (1 Oct 2007)
- Language English
- ISBN-10: 0071482377
- ISBN-13: 978-0071482370
- Product Dimensions: 22.7 x 15.4 x 1.8 cm
- Amazon Bestsellers Rank: 1,057,101 in Books (See Top 100 in Books)
- See Complete Table of Contents
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Product Description
Product Description
This newly revised edition of Buy, Rent, and Sell features everything you need to know to make money in residential real estate. Robert Irwin covers the investment tools of today's market, including buy-and-hold strategies and tax-smart long-term financing.
Book Description
The real estate market is hot and there's never been a better time to invest in real estate! For instance, buying with a 50 percent margin in the stock market is considered good...but in real estate, buying with a 90 percent margin or higher is commonplace! Due to the pent-up demand for housing (caused by the recession of the 90s when few homes were built) there are as many as 11 million Americans who want to buy homes which are currently not available. It's a great opportunity for investors. The time is right for real estate expert Bob Irwin's Buy, Rent & Sell. This book will teach investors how to find good residential investment property, successfully rent it, and then quickly turn around and sell the property for a big profit. This book will be of interest to those millions of investors who are returning to real estate as a well-established formula for acquiring wealth in the "good times" that show no sign of stopping. In fact, the strong real estate market is very likely to continue for years to come (periodic higher interest rates will only likely slow - not halt - the boom in the housing market). Buy, Rent, & Sell will be a solid, workable and comprehensive guide to making money investing in real estate. The book will both promote techniques that work, as well as expose unrealistic practices that don't work.
--This text refers to an out of print or unavailable edition of this title.
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11 reviews
79 of 80 people found the following review helpful
Good intro to buying homes, but. . .
18 Jan 2003
Format:Paperback
Overall, I thought that this book was very helpful and contained good information for someone considering investing in real estate. The author appears to have had success with landlording and knows his real estate market well.
One (understandable) problem with the book is that Mr. Irwin is writing based on his personal experience in what sounds like the southwest in a booming real estate market. One point that he makes several times is to pay for water bills, so the tenants won't be tempted to save money by not watering the yard, thus causing serious landscaping damage. This is really not applicable in the north or where there is significant rainfall.
One (understandable) problem with the book is that Mr. Irwin is writing based on his personal experience in what sounds like the southwest in a booming real estate market. One point that he makes several times is to pay for water bills, so the tenants won't be tempted to save money by not watering the yard, thus causing serious landscaping damage. This is really not applicable in the north or where there is significant rainfall.
An underlying belief of Irwin's is that it is difficult to find properties whose income can cover all their expenses, and that the real money comes in selling for a profit. Accordingly, much of the book concentrates on flipping properties and other real estate maneuvers that are usually only successful/necessary in tight markets. In general the book advocates a high risk philosophy of investing, advising the reader to use the bank's money make money as much as possible. I thought the inherent risks of this way of doing things were not fully explained in the book.
Additionally, he advises to stay away from old houses which he classifies as older than 25 years. I laughed as I read that, as virtually all of the houses in the town I bought my house in are between 60-120 years old. 25 year old houses are considered spring chickens where I'm from!
The last weakness of the book is that it seems to overestimate ease of determining the "true" value of a house. It takes a LOT of looking at houses and checking final sale prices to say with much certainty what a property is worth.
This review may sound relatively harsh, but for the amount of time it took me to read this book I found it helpful. I would wholeheartedly recommend the book for a beginner in a rental market similar to the author's market. However, for someone in a region similar to mine (the depressed real estate market of Troy, NY) you may want to check for some other similar books. And for all I would advise to stay away from the higher priced "Make your fortune in real estate" packages advertised on TV and such. Real estate information is most efficiently conveyed in paperback books like this one - in straightforward text without motivational speaking or overly unrealistic portrayals of the real estate world.
31 of 32 people found the following review helpful
Classic Text
9 Jun 2001
Format:Paperback
Irwin has written another classic text to join his 30 some real estate investment books. It's a must read book for serious investors. This book focuses on "flipping" certain properties for quick profit as well as buying for the long haul. Irwin focuses on residential properties and spends considerable time emphasizing making money on rentals rather than on "flippers" (immediate sells). His "Irwin's 12 Rules for Successful Landlording" is particularly insightful because it comes from his personal experience in rental real estate. Surprises to me include: 1) Don't buy houses with more than two or three bedrooms for investment. 2) Buy small lots without pools to keep maintenance costs down. 3) Landlords should pay for the water bill to keep the yard green. Another great book! It's one for the library.
13 of 13 people found the following review helpful
Great guide for the new comer to real estate investing
3 Jun 2001
Format:Paperback
This was especially helpful for those looking to buy for the purpose of "flipping" property for quick returns. I especially found the loan aspects to purchasing properties very helpful and even the type of houses to look for (fewer bedrooms means fewer tenants translates to less wear and tear)was useful. Even though I'm a contractor I was impressed with the useful info related to fixing up properties for resale.
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