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Product Description
Earn BIG profits in commercial real estate If you’re tired of get-rich-quick real estate concepts that sound good but don’t really work, then it’s time to get expert advice on commercial real estate investing from one of the most published real estate authors in America. This straightforward guide gives all real estate investors a shortcut to what does work and why. You’ll find all the essential tips and insider knowledge it takes to get started in commerc… More >>
Commercial Real Estate Investing 12 Easy Steps to Getting Started
January 21, 2010 at 3:17 pm
Top book on Commercial getting started
Rating: 5 / 5
January 21, 2010 at 5:41 pm
Before I bought this book I was looking for a smart way to invest in real estate and decided to buy the book because of its high rating. Bad choice! Never buy a book in Amazon just because of the good rating. I’ve been investing in real estate for 2 years and wanted to expand my knowledge in the field with the help of this book. Bad choice! The 12 easy steps the author is referring to are useless. You are better off learning by experience. I thought the book was “ELEMENTARY” with the oversized fonts and childish graphics. I felt like a kid reading a night time story. DO NOT BUY THIS BOOK, it is an absolute waste of time. You are better off keeping an eye on the current market situation and make your moves by experience.
Rating: 1 / 5
January 21, 2010 at 6:30 pm
Useful, but no great secrets. Good research tool for someone starting in Real Estate, and has some useful tools on leverage understanding. I probably would not buy it again.
Rating: 3 / 5
January 21, 2010 at 7:09 pm
Its a great 1st timer book, i bought it because i was a 1st timer. but after reading through half of it it seemed like most of it was a lot of repetitive information that i didn’t really need. i would recommended it to 1st timers only.
Rating: 4 / 5
January 21, 2010 at 8:11 pm
A relatively easy read, with carefully crafted examples to drive home its main points, this book is perhaps one of a handful of books that I would recommend to anyone looking to invest in commercial real estate, or simply to gain a little insight into and appreciation of the topic.
The book reveals three critical points associated with real estate investment. The first is that city hall determines the ultimate value of any real estate property (here I have glossed over some inconvenient math, which is adequately explained in the text). Cummings sums it up by saying that the use (of a property) determines its value, but he also is careful to mention that zoning determines use and that city hall ultimately makes the decisions about zoning. Therefore, it behooves the aspiring real estate investor to get to know the mad hatters (in my experience, this is the only term that quite aptly applies) that run city hall. Since they determine the zoning in a neighborhood, and the zoning governs use, and as Cummings also correctly points out, the use determines the amount of net operating income that can be generated, in the end, city hall dictates the value of any commercial real estate investment. As such, real estate investment is a very political activity, moreso than other types of investment.
The second critical point is the identification of a comfort zone in which to make real estate investments. Comfort zones have two important dimensions. The first and most important dimension is the property location, and the second dimension is property type. Ultimately, the successful commercial real estate investors tend to be specialists who focus on a particular property type within a carefully selected region or locality.
The third critical point is the importance of due diligence in commercial real estate investment. One can think of it as doing one’s homework on a prospective property purchase or as doing extensive detective work on the investment (kicking the tires, looking under the hood, whatnot). As Cummings puts it, it is better to think of this critical point like this: Imagine a two-sided coin, with one side being How Much Do You Know About The Property Before You Purchase It, and the other side being How Much Do You Want To Pay After You Purchase The Property? If there are any problems afoot, the less you know before the purchase the more you will pay after the purchase, and (not necessarily) vice versa (like most investors, if you uncover extensive problems during due diligence, you will likely pass on the purchase).
I like to think of these critical points as the Three Golden Rules of Real Estate Investing. These rules are there to keep you out of trouble. Along with a few other useful hints, the book makes for a fast and excellent on the topic of commercial real estate investment. This book, combined with any of the books written by Frank Gallinelli, will put the aspiring real estate investor on firm footing for a successful career in commercial real estate investment.
Rating: 5 / 5