Retire Rich from Real Estate: A Low-Risk Approach to Buying Rental Property for the Long-Term Investor. (Amazon non-affiliate link)
That’s a mouthful of a title, and covers a lot of territory.
And the author, Marc W. Andersen, Ph.D. does an admirable job covering that territory.
Retire Rich is well-written, and loaded with knowledge and tips, particularly for newer real estate investors.
Thankfully, Andersen does not propose any “get-rich-quick”, no money down, “anyone can do it” type of advice. His “formula” is a long-term investment return, not quick flipping.
And that’s sage advice in my opinion.
The book is well indexed, and has a great glossary — that alone is worth the price of admission.
Andersen writes in an easy to understand voice, and covers a lot of ground including (but not limited to):
- To buy or not to buy
- Identifying potential long-term investment properties
- Finding properties
- Determining operating expenses and cash flow
- Valuing and financing investment properties
- Property management
- Insurance and taxes
- Selling the property
As a long-time buyer and seller of investment property, Andersen appears to be in a good position to offer advice, and includes many actual examples from his real estate investments. He’s got the right attitude toward real estate investing…
From the Introduction:
Creating wealth from real estate is a long-term proposition and the road is long and treacherous. It is not realistic to think you can make your fortune overnight.Once you make the right purchase you must learn how to hold on to and effectively manage your property.
My only beef with the book is the author’s opinion that most listing agents are out to double-side transactions. As an agent who abhors dual agency, I find that annoying. However, the sad fact is Andersen isn’t just saying this on a whim — he undoubtedly has experience in seeing this practice first-hand.
Well-written and reading more like a handbook to long-term real estate investing success than a gimmicky approach, Retire Rich from Real Estate would be a great book for anyone involved in the real estate market to add to their library.
Retire Rich from Real Estate: A Low-Risk Approach to Buying Rental Property for the Long-Term Investor
Marc W. Andersen, Ph.D.
Published: December 2007
$18.95 U.S. / $24.95 CAN
($11.03 on Amazon)