The Complete Guide to Real Estate Finance for Investment Properties: How to Analyze Any Single-Family, Multifamily, or Commercial Property

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January 23rd, 2012 by admin

The Complete Guide to Real Estate Finance for Investment Properties: How to Analyze Any Single-Family, Multifamily, or Commercial Property

This practical, real-world guide gives investors all the tools they need to make wise decisions when weighing the value and potential of investment properties. Written for old pros as well as novice investors, this friendly, straightforward guide walks readers step by step through every stage of property analysis. Whether you're buying or selling, investing in big commercial properties or single-family rentals, you'll find expert guidance and handy resources on every aspect of real estate financ

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3 Responses

Rick Talcott writes:
January 23rd, 201211:41 pmat

103 of 105 people found the following review helpful:

Great Book, but be aware of what it isn’t, May 12, 2005

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Rick Talcott (Berkeley, CA USA) –

This review is from: The Complete Guide to Real Estate Finance for Investment Properties: How to Analyze Any Single-Family, Multifamily, or Commercial Property (Hardcover)

This is a great book, and well worth purchasing if you want to learn about finances for investment properties. It is not all that it could be, but don’t let that stop you from using it to get started. All that having been said, here are the things that I had to be careful about: 1) Ten performance measurements and ratios are presented in chapter 6, and they represent the heart of the book. There is little overview of which ones are most importance or how to use or weigh conflicting or offsetting results. 2) The book is heavily centered on spreadsheets, which the author offers to sell to you. Others have criticized the spreadsheets for being locked. I used the book to recreate my own version of the spreadsheets, and the extensive explanations in the book helped, mostly, to make sure that I got the underlying formulas correct. What I noticed, however, is that the book sorely needed a financially sophisticated editor. For example, the spreadsheet on page 193 has an entry for “Expense/Foot.” In fact, this entry is none other than the OER – Operating Expense Ratio – that was developed in Chapter 6. Why go to all the trouble to create and define ratios, if you aren’t then going to use them. Other parts of the spreadsheets were equally problematic. For example, the Net CF’s – presumably “cash flow” – for a 3 year exit only had the receipts for years 1 and 2, and not for year 3. Lastly, the book has nothing to say about (a) maintaining and growing a real estate portfolio of multiple properties as opposed to a single property, or (b) evaluating the relatively new 1031 multiple tenants in common investments that some long time owners are trading into in order to stop being a full time property manager as well as an investor.

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Ann "Ann" writes:
January 24th, 201212:40 amat

44 of 45 people found the following review helpful:

Not the book for new investors or for financial analysis, March 20, 2006

By

Ann “Ann” (Raleigh, NC) –

Amazon Verified Purchase(http://www.amazon.com/gp/community-help/amazon-verified-purchase/182-7229174-1770061', ‘AmazonHelp’, ‘width=400,height=500,resizable=1,scrollbars=1,toolbar=0,status=1′);return false; “>What’s this?)

This review is from: The Complete Guide to Real Estate Finance for Investment Properties: How to Analyze Any Single-Family, Multifamily, or Commercial Property (Hardcover)

In my opinion, as a non-author, this book is poorly written.

The book gives examples on financial calculations that can be done to determine if a piece of property is a good investment. However, the examples given are either too complex to be meaningful outside of the specific situtation or too simple to gain any understanding.

The second section of the book on “case studies”, is not made for new investors. The examples involve huge sums of money and very complex situations. Two examples come to mind: One case study discussed buying an apartment complex in an overpriced area, another rambled on about legal trouble he had with a local zoning board. A simpler more straight forward example of properties would be much more valuable.

I also did not appreciate the fact that his company is plugged throughout the book. I guess it offers some value in that he has actually experienced the situations in the book but I cannot help but think this book was written only for the benefit of his company and not to eduate the readers. I have read many real estate books written by many successful investor who never mention their company’s name. He mentions his constantly.

This book may make sense for investors with large cash reserves($500,000+) in that it explains some creative ways to identify ways to improve a property and it is written from real experience, but in general I do not recommend it.

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Hoppaguy writes:
January 24th, 201212:51 amat

44 of 47 people found the following review helpful:

Great book for the beginner and good review for the pro, November 24, 2004

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Hoppaguy (San Diego) –

Amazon Verified Purchase(http://www.amazon.com/gp/community-help/amazon-verified-purchase/182-7229174-1770061', ‘AmazonHelp’, ‘width=400,height=500,resizable=1,scrollbars=1,toolbar=0,status=1′);return false; “>What’s this?)

This review is from: The Complete Guide to Real Estate Finance for Investment Properties: How to Analyze Any Single-Family, Multifamily, or Commercial Property (Hardcover)

I have read many books dealing with real estate finance and while they all have some merits, this seems to cover most areas sufficiently. The only caveat is do not buy this book if you are going into commercial property because it does not cover triple net leases or any other analysis that might come up with commerical properity. However if you want to learn about returns with single family or multi family buildings, then this is the book for you. Berges other book on multi family buildings is also quite informative.

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