Rating: Summary: Great Book For Serious Investors Review: "Buy It, Fix It, Sell It: Profit", is a great book for serious investors. This book teaches the ropes. If you are willing to put in the funds, time, and work into the properties, you can get a lot more from your investment. The area "location" also counts.When you buy, fix, and sell properties for a profit, it can be a real and great opportunity, if you are willing to learn and put forth the effort. Raising the property value by fixing it up, is how you can make great money. I know someone who does this and is successful at it. This is a great overall how to book for investors and/or want to be investors just starting out. Diana: Author of: "You Hold The Key To Riches And Happiness"; "Inspirational Wisdom For Love, Beauty, And Richness"; (and) "Sure Fire Ways To Make More Money And Get A Better Job".
Rating: Summary: Not as easy as it looks Review: About the book; It reads easy and is easy to follow. Kevin gives as complete information in a 'how-to' format as possible in a book of this nature. Bottom line the book is worth the money. Just don't be fooled into thinking "it's the only one you'll ever need." About the concepts; For sure if you are considering real estate investing, read as much about the subject as you can. Consider all the the different types of investments and find one that 'fits' your personality prior to 'plunking-down' your hard earned cash to a property owner. 'Flipping' is not as easy to do as Kevin might have you think. The faint at heart need not attempt this style of investment. The IRS can be very 'sticky' about investments and 'dealer' status.
Rating: Summary: Not bad, looking forward to a less dated edition... Review: Anyone spending the enormous amount of money needed to buy property can't frown at $13 for a reference book, if they can glean anything from the book. This guy definitely isn't a writer but the book did contain some good tips. Do yourself a favor and make sure you buy the newest addition - I picked up the '97 and it was extremely dated. My other issue with this book is he uses examples with very unrealistic dollar figures, even if adjusted for inflation. Do you think you're going to buy a $100,000 "handyman special" and renovate it until it's in "doll house/sparkling condition", with that renovation to include a new roof, updated baths, complete kitchen remodel, paint, carpet and landscaping...all for $9,000? Good luck. The roof alone could cost that much and certainly the kitchen is going to run more than $1800 if you're replacing cabinets; even if you were to buy the cheapest of the cheap materials and do the work yourself, in which case the end result would look cheap. To his credit, he harps on the fact that you need to do your homework and estimate all the rehab costs to build them into your offer price - but if you're new to this don't get sticker shock when your estimates for all the above items come in more in the $25,000 neighborhood. One thing I tend to disagree with is his contention that you shouldn't even consider doing the work yourself. If you're starting out and building relationships with subcontractors I think an advanced do-it-yourselfer can do almost anything, you have so many resources available to you with Home Depot, TV and the internet. The key would be getting things done quickly, so maybe farming out the time consuming and dangerous work is okay, but you can do the other stuff yourself much cheaper. Of course, after a few houses and once you've got a HVAC guy you trust, a plumber and electrician you trust and possibly drywall and paint guys you trust, you might take the advice of the book and spend your time looking for the next house. I did find this book useful enough that I'll be buying the 2003 edition today, you just need to look at it as another resource and not the rehabber bible.
Rating: Summary: Not bad, looking forward to a less dated edition... Review: Anyone spending the enormous amount of money needed to buy property can't frown at $13 for a reference book, if they can glean anything from the book. This guy definitely isn't a writer but the book did contain some good tips. Do yourself a favor and make sure you buy the newest addition - I picked up the '97 and it was extremely dated. My other issue with this book is he uses examples with very unrealistic dollar figures, even if adjusted for inflation. Do you think you're going to buy a $100,000 "handyman special" and renovate it until it's in "doll house/sparkling condition", with that renovation to include a new roof, updated baths, complete kitchen remodel, paint, carpet and landscaping...all for $9,000? Good luck. The roof alone could cost that much and certainly the kitchen is going to run more than $1800 if you're replacing cabinets; even if you were to buy the cheapest of the cheap materials and do the work yourself, in which case the end result would look cheap. To his credit, he harps on the fact that you need to do your homework and estimate all the rehab costs to build them into your offer price - but if you're new to this don't get sticker shock when your estimates for all the above items come in more in the $25,000 neighborhood. One thing I tend to disagree with is his contention that you shouldn't even consider doing the work yourself. If you're starting out and building relationships with subcontractors I think an advanced do-it-yourselfer can do almost anything, you have so many resources available to you with Home Depot, TV and the internet. The key would be getting things done quickly, so maybe farming out the time consuming and dangerous work is okay, but you can do the other stuff yourself much cheaper. Of course, after a few houses and once you've got a HVAC guy you trust, a plumber and electrician you trust and possibly drywall and paint guys you trust, you might take the advice of the book and spend your time looking for the next house. I did find this book useful enough that I'll be buying the 2003 edition today, you just need to look at it as another resource and not the rehabber bible.
Rating: Summary: Practical Review: As other reviewers have said, this is written for the layman. Maps the flipping process out and tells you how to do it in easy to understand language. A great starter book. Covers what to look for, working with an R.E. agent, appraisals, foreclosures, purchasing for cash(and how to get it), using private morgage lenders(the hard stuff!),negotiating, inspection, renovation, hiring contractors, and how to sell quickly for top dollar. The final chapter delves into some more advanced strategies. I'm just now getting into "flipping" books and this is one of the best.
Rating: Summary: Practical Review: As other reviewers have said, this is written for the layman. Maps the flipping process out and tells you how to do it in easy to understand language. A great starter book. Covers what to look for, working with an R.E. agent, appraisals, foreclosures, purchasing for cash(and how to get it), using private morgage lenders(the hard stuff!),negotiating, inspection, renovation, hiring contractors, and how to sell quickly for top dollar. The final chapter delves into some more advanced strategies. I'm just now getting into "flipping" books and this is one of the best.
Rating: Summary: Worth 10 times the cover price! Review: At last - a book written for property renovators that actually strive to make a living at it! Mr. Meyers has produced a masterpiece that is 50% business management book and 50% real estate "rehab" how-to book. He quickly dispels the "get rich quick, no money down, no effort" fantasies trumped by late-night TV "gurus". He shows you the real nuts and bolts: How to determine an offer price, how to estimate repair costs, how to attract investors, who your target buyer is going to be, and HOW TO MAKE REAL ESTATE REHAB A BUSINESS - not just a hobby. Unlike most real estate books, this one hits the business side quickly. Chapter 2 contains an excellent outline of a business plan that is easily tailored for investors, bankers, or partners. This chapter alone saved me hours of frustration in developing not just a business plan, but a web site and marketing material. Again, unlike many real estate books, this one is realistic about prices and profit potential. The only minor complaint I have is that the book was published in 1998, and many of the statistics and cost estimates cited are from 1995 and 1996. Don't let that dissuade you from buying this book, though! I'd still recommend it if it were 5 years older and ten times the price! I only hope Mr. Meyers is working on a 2nd edition!
Rating: Summary: 1998 AMAZON Real Estate Award Winner Review: BUY IT, FIX IT, SELL IT: PROFIT! was chosen as the 1998 AMAZON Real Estate Award Winner.
Rating: Summary: Excellent Book Review: For someone who is just starting in the rehab business, this is a great starting point. I see myself refering to it time and time again.
Rating: Summary: This is the Rehab Investment Bible!!!!! Review: I am a Real Estate Agent focused on working with investors and also teach classes to investors on rehab and rental investing. This is "The Bible" I utilize this book and two others for about 75% of the material I speak on. At my seminars this is one of the two books I give out to the attendees. I have also spoken with the author on a few occassions and have been even more impressed after speaking with him. I recommend this book VERY HIGHLY!
|