World Famous Comics: The No-Nonsense Real Estate Investor's Kit: How You Can Double Your Income By Investing in Real Estate on a Part-Time Basis
The No-Nonsense Real Estate Investor's Kit: How You Can Double Your Income By Investing in Real Estate on a Part-Time Basis
By: Thomas Lucier Publisher: Wiley Average Rating: Binding: Paperback Label: Wiley Number of Items: 1 Number of Pages: 336 Publication Date: April 28, 2006
Product Description: In The No-Nonsense Real Estate Investor’s Kit, noted author and real estate expert, Thomas J. Lucier provides detailed information, step-by-step instructions and practical advice for both beginning and experienced investors, who want to join the ranks of America's real estate millionaires!
You get Tom Lucier’s lifetime of real estate investing expertise and experience in twenty-three meaty chapters. You also get all of the nitty-gritty details on five proven strategies for making money in real estate today. You’ll learn all of the fundamentals of successful investing and get the guidance that you need on these and many more vital topics:
Choosing the right investment strategies
Financing your deals
Limiting your risk and liability
Earning tax-free income from the sale of real estate
Setting up and operating your own real estate business
Investing in undervalued properties
Following state and federal real estate related statutes
Negotiating the best possible deal for yourself
Buying properties at below-market prices
Performing due diligence, inspections, and estimating property values
Preparing purchase and sale agreements
The No-Nonsense Real Estate Investor’s Kit is as close as you can get to a graduate degree in real estate investing without ever going to college. It arms you with the specialized knowledge that you need to compete successfully against the seasoned real estate professionals in your local real estate market. And this book comes complete with FREE downloadable and customizable forms to help you get started on the fast track.
Run don't walk AWAY! Author claims to be "non-Sense" - and in my mind he is. But his is the only things "different" about this book. His "only" twist is that is tends to showcase the "risk" whereas the others showcase the "reward". This book is not worth the read or money.
I recommend his other two books instead The No-Nonsense Real Estate Investor's Kit: How You Can Double Your Income By Investing in Real Estate on a Part-Time Basis
I'm glad I read his other two books before reading this one. Otherwise I would not have bothered to read the other two, which I would highly recommend to anyone interested in real estate investing.
The problems I had with this book I would put primarily under the category of either no or very poor editing.
First, I think he contradicts himself regarding recommended courses of action in a few places in the book. For example, he devotes a couple of chapters to talking about how hard it is to make profits in real estate investing, then gives several anecdotes throughout the book about making $20k to $30k after 2-3 months of owning a property. He spends a good portion of the book talking about real estate loans, escrow closings and good credit, then mentions briefly toward the end of the book that he prefers not to use conventional loans, but instead to use owner financing (which is some of the most helpful information I've obtained by reading books on real estate investing, so I agree with his preferred course of action. Why wait until the end to throw that out?)
Second, I wish some editor had reined in all of the portions of the book which allowed his personality to really shine through. If I live to never see the word "bullspit" in print again, I will have been blessed. Also, the constant references to "how we did it in the Marines." There was WAY too much of those things. There was some of this in his other two books, but not enough to annoy me. Here, it affected his credibility more, because I started to think of him more as a windbag. It didn't change my appreciation for his other two books, but it has affected how devotedly I will adhere to all of the advice in those books.
Last, and this is a trivial point, I don't think he had an editor because there were about 5,000 unnecessary commas. I had to stop often to re-read sentences because the commas were inserted at random places, making many of his sentences nonsensical.
As I've stated a couple of places in this review, I would highly recommend his other two books. They're practical, and useful, and give one what I consider to be all of the basics to get started in real estate investing. This book I found to be more meandering in the point it was trying to make, and less encouraging. Also, as another reviewer stated, it was pretty much a regurgitation of material in his other two books. In fact, when determining whether this book was necessary for my collection (I got it from the library), I compared it to his book on pre-foreclosures, and much of the information in this book is contained there. Get the other two books instead.
The No-Nonsense Real Estate Investor's Kit is a Thorough Book A thorough real estate investment book that covers a lot of topics with a very readable style.
Of particular value is his online Resource List at the end of the book. The author has listed email addresses for many useful websites. I liked the online Property Sales Information, where I first learned about Craigslist as a great online source for finding properties for sale. I like to search specifically for homes with guest houses, and Craigslist makes it easy to do that type of "specialty" search.
I also like the fact that he recommends useful products to make our investment businesses run more smoothly. It shows that he's a down-to-earth guy who has been down the same path that we travel. For example, on page 65 he recommends the Desk Apprentice (designed by 2 participants in Donald Trump's The Apprentice TV show) to keep your office desk organized, and on page 66 the Cab Commander for your car seat office. Lucifer knows that we have to spend a lot of time behind the wheel searching for properties, conducting drive-by property inspections, and driving to appointments.
This is a good book with useful information.
Terry Sprouse - author of the book, "Fix 'em Up, Rent 'em Out: How to Start Your Own House Fix-up and Rental Business in Your Spare Time."
Not Enough When I started reading this book, I thought I was going to learn everything about how to be a profitable real estate investor. There is just no way you can cover everything this book tries to cover in 300 pages. Each chapter leaves you with too many unanswered questions. Though, I could see how this book might be a good starting point for anyone interested in investing in real estate.
If you haven't heard of Tonja Demoff, you should give her book Bubble Proof: Real Estate Strategies that Work in any Market a look. Her book is a very easy read and it's packed with information that will help you get started with the right mindset and the right information to begin investing in today's market.
Realistic Advice for Newbie Real Estate Investors Thomas J. Lucier is one of the best real estate writers in the business today and he comes through with another winning book here. His advice is far from the "get-rich-quick" nonsense so many authors and pseudo-investors peddle in books on this site and elsewhere. As a real estate lawyer and investor for almost 25 years, I admire this man's work greatly. Lucier is a genuine real estate investor and his clear, straight-forward, easy-to-follow, and honest investment suggestions always put his books a cut above so many others out there. The best part of his writing is how he breaks complex subjects into simple-to-digest pieces best designed for newbie investors wanting to get started in the real estate business. This book in particular debunks many of the get-rich-quick so-called "creative" real estate techniques like subject-to GET THE DEED buying and offers real world reasons why you should not do it, as opposed to so many authors that base their whole careers around such dangerous nonsense. I can't praise this book enough for its clarity and practical information. There is not a single wasted page in the entire text. This is by far one the best real estate books being sold today in print.
Anything Goes Trivia
Megaton Man
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