Rating: 
Summary: Excellent Introduction to an exciting new investing vehicle
Review: After watching the current accounting scandals, I was interested in finding a safe investment with a good return. I read about REITs in Smart Money and that is how I was referred to this book. It is well written and comprehensive introduction to REITs and I plan to reread it several times so I can gain the expertise necessary to start investing in these relatively new investment vehicles. For those who do not want to wait, Vanguard offers a REIT index that has a nice return and looks pretty solid as we ride out the Bush Jr's recession.
Rating:
Summary: Excellent Introduction to an exciting new investing vehicle
Review: After watching the current accounting scandals, I was interested in finding a safe investment with a good return. I read about REITs in Smart Money and that is how I was referred to this book. It is well written and comprehensive introduction to REITs and I plan to reread it several times so I can gain the expertise necessary to start investing in these relatively new investment vehicles. For those who do not want to wait, Vanguard offers a REIT index that has a nice return and looks pretty solid as we ride out the Bush Jr's recession.
Rating:
Summary: Picked it up and couldn't put it down until the very end!
Review: As an investment consultant, as well as an oft-harried, small apartment owner to boot, I personally witnessed, in the early 90s, the trials and tribulations of being directly involved in managing one's real estate investments - all this during a period in which, contrary to popular opinion, disciplined equity REITs still profited nicely. Despite my pre-existing biases, day by day, it was becoming ever more clear to me that REITs had become the lower risk, more highly liquid, no-fuss, no muss, preferred vehicle for participating in commercial real estate profits. Still, somehow, it was not until I picked up Ralph's first book that I was able to garner the enthusiam necessary to truly embrace REITs, ultimately altering my career course mid-stream and dedicating it to REIT investing and analysis. I read his book in one sitting, literally not being able to put it down. While that "sold out" first book will forever have an emotional attachment for me, as an "analyst", I must acknowledge that this new and improved version is even better still, both from an informational standpoint, as well as being more colorful and thus, much easier on the eyes - courtesy of Bloomberg's fine editor, I suspect. But you don't need to be a professional to understand and appreciate Ralph's down-to-earth, folksy style of writing. In fact, because this book was written for the un-initiated, armchair investor, its price tag is extremely low. But even if it were not so inexpensive, to anyone who loves either real estate or the high dividends REITs provide (over 7% on average, as of this writing), I'd say: "INVESTING IN REITS is worth its weight in gold".
Rating:
Summary: Extremely useful exposition of REITs fundamentals
Review: At a time when the financial markets are in turmoil, Mr. Block's "Investing in REITs" is a timely and valuable addition to the bookshelf of the savvy investor. Accessible and easy to read, it will take the mystery out of investing in REITs, and should help to put some rationality back into this little understood segment of the stock market. This book will be extremely useful to anyone wishing to study the fundamentals of real estate investment trusts.
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Summary: Essential for REIT investors
Review: First, I have no connection with Ralph Block or any of the enterprises he was previously or is currently associated with.
When the current edition of his book ("cobalt cover") was newly out, I took an online course from Block using the book as text. I was engaged in a total immersion crash course in investing (long overdue), being newly retired and confronted with managing for income a rollover IRA (having disengaged a 401K from my former employer) which was my primary asset outside of my house. The market had just crashed, and would go down further. Better late than never, but a painful six months educational process, as I learned how to reconfigure and manage the IRA myself.
The book and course convinced me that REITs belonged in my portfolio and I allocated a portion of it (initially 7%) to a combination of individual REITs and a highly rated REIT mutual fund. Prices were down along with the rest of the market, so in that respect it was beginners luck.
However, I used Block as a mentor and watched which REITs he favored in a fund he managed (which had too high an entry investment threshold for me to get into myself). I acquired a few more individual REITs in the following year when the market dipped. It has turned out to be a valuable investment and helped noticeably to reduce risk by diversifying the portfolio, and has also yielded a steady portion of income. The book was essential for review and reference in the practical business of managing my REIT segment of a "long haul" and income portfolio, vetting possible acquisitions and navigating the jargon of REIT annual reports.
I would note that Block puts out a monthly newletter discussing the REIT world, online at Essentialreit.com site: recommended for keeping uptodate. Block's discussions are not for casual reading, but like the book, if you're willing to put in the time and effort, it can be very rewarding. (And amusing too, as he has a great sense of humor and pulls no punchs) Thanx Ralph!
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Summary: This book covers all the bases
Review: Having heard of REITs and noticed their significant investment returns with relatively low risk, I wanted a book that would help me understand as much as possible about REITs. This book came highly regarded from the financial planning community in Northern California, so I decided to read it. It is excellent. The author's long history in following REITs made this book stand out from the rest. It thoroughly covers every topic one could consider when investing in REITs, and not only is it particularly insightful, the author's casual style makes for interesting reading. The book does need a new edition, however, as the REIT world has evolved over the past couple of years.
Rating: 
Summary: REITS are not the low risk investment people seem to think
Review: I am disturbed by the misconception of some of the review writers concerning REITS. I worked for a REIT for several years, and I can tell you the only ones truly getting their investments worth are the CEO's. There are many scandals involving REITS, including resident lawsuits due to the REITs necessity to turn over populations in order to maximize profit. The REIT I worked for was sleazy and cut corners every chance it got--it was just like ENRON, only it hasn't been "outed" yet as the sleazebag operation it is. There is no "safe" investment. REITS can tank just like any other investment. Do your research before investing.
Rating:
Summary: Good -- but buy the updated second edition released 4/02
Review: I am the author of "Investing in REITs," and would like to contribute a few comments regarding the new edition of the book that was released in April 2002 (cobalt blue cover) and how it differs from the original (1998) edition. The new edition improves upon the original in two principal ways: First, it provides the reader with a description and commentary regarding several very important events that have occurred in REIT world since 1998. These include the REITs' bear market of 1998-1999 (and subsequent bull market beginning in 2000), the REIT Modernization Act and inclusion of REITs in the Standard & Poor's 500 stock index. Further, all graphs and charts have been updated. Second, the new edition provides commentary on recent REIT industry trends that will affect all REIT investors, including the recent down-cycle in the commercial real estate markets, new changes in REITs' business strategies and a fresh perspective on value creation - as well as value destruction - by REIT organizations. Readers interested in the new 2002 edition of "Investing in REITs" will want to click on the link to "All Editions" of the book, under "Product Details" at this website, and look for the cobalt blue cover. Ralph Block
Rating:
Summary: Great book for REIT investors.
Review: I learned more about investing in REITs from Ralph Block's first book "The Essential REIT" than from any of the other numerous sources I was plumbing at that time. His latest book, "Investing in REITs" expands on and updates his first book. This is a great book for anyone interested in investing in REITs. It's easy to read, proceeding thoroughly and logically from first principals. Ralph Block is an excellent writer with a knack for anticipating questions that neophytes might have.
Rating:
Summary: Outstanding book on REITs
Review: I liked the previous version of this book but the new 2002 edition is much better. I feel that I learned a lot more about REITs from reading it. REITs are a good way for individual investors to get broad diversification in their real estate investments. RE offers high returns that are somewhat uncorrelated with stocks. Keep in mind that some of the reviews on this site refer to the earlier edition of the book.
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