Full disclosure: This is not a paid review. The publisher did provide a complimentary copy of the book, but with no obligation to review — good, bad or otherwise..
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
- Bookkeeping
- 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.
The book has been reviewed on several real estate investing blogs and every review I’ve seen has been positive.
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
ISBN: 978–1–57248–646–1
$18.95 U.S. / $24.95 CAN
($11.03 on Amazon)
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{ 7 comments… read them below or add one }
Started reading this book a couple weeks back. Great lead in for new investors.
Is there anything in the book for the person who wants to get into real estate but can’t get their foot in the door?
I’d imagine that this book is pretty popular right now in this market.
I’m glad to see this is a long-term investing approach. There are many people hurting today because they tried to flip houses. Good thing I never tried it.
It’s good to see a long term plan, investing is really not all that “fun” it requires long term focus and daily management of properties. Most books just try to pitch the get rich quick scheme because that is what sells since everyone wants to think it’s that easy.
Jay,
Thanks for the recommendation. I have certainly read my share of books on this topic, some good some you know what. I look forward to taking a look at this one.
Thanks Jay for writing on this book. I haven’t known it until now and was actually looking for something similar. A friend had told me about some book that sounds like the one you were reviewing. This one sounds just as intriguing.