Rating: 
Summary: Block gives a lucid, educational and humorous view of reits.
Review: Ralph Block shows the way through the morass of FFOs, AFFOs and P/AFFOs to the basic concepts of reits. I like his clairty; he speaks to me by written word, yet as if one- to-one.The entire subject matter (which at first approach seems incredibly dry) sparkles with Block's wit. I read the book and came away reit-knowledgeable as well as entertained!In these days of plummeting stocks (and reits are in there falling, too), this book helps me prepare for the time when I will want to sink some money into real estate the easier, cheaper way.
Rating:
Summary: THE definitive,demystifying and professional REITguidebook
Review: Ralph Block, writes the definitive guidebook to REIT investing. His "building block" approach to the industry/asset class demystifies the REIT animal. "Investing in REITs" finds that elusive balance between the pedestrian and hyper-technical, creating a highly readable yet sophisticated analysis of his subject. I highly recommend the book to those with interests ranging from public market equity investing to commercial real estate.
Rating: 
Summary: A great Introduction
Review: Ralph has done a great job of leading the new REIT investor through the tangle of understanding REITs from their humble inception in 1960 through 2001. He does a good job of explaining why things have happened as they have, and to build our confidence in this from of investment...particular those who wish to invest for the long term dividend. What would be nice is to carry this concept through its logical conclusion, and demonstrate how to get the data on the internet to measure a REIT's ability to maintain and continue to grow its dividend going forward, with practical examples of how to pull numbers off of a REIT's 10Q and 10K annual earnings reports, calculate FFO and AFFO and Fixed Cost Coverage Ratios. I hope he follows up with a book that will take us to this next step.
Rating:
Summary: Investing in REITS
Review: Real Estate Investment Trusts, or REITs, that, in my opinion, are more of an asset class, like fixed income bonds, than a sector of the general stock market. Every investor should be familar with this asset class just as every investor should be familar with fixed the income class. One can choose not to invest in REITs, just as one can decide to be 100 per cent in equities, but the choice should be an informed one. "Investing in REITs" by Ralph Block is an informative and clear introduction to REITs suitable for new investors. Investors who have followed REITs for a couple of years will also benefit from the book. Part 1 of this book give an overview of REITs. In particular Chapter 2 shows why REITs are different (not better) than than electric utilities, bonds, and preferred stocks. Part 2 of this book discusses the history of REITs and then some of the myths regarding REITs. REITs have been around since 1962 when a law was passed that excluded REITs from corporation tax if they paid out 95% of their taxable income as dividends. Before 1962 small investors could invest in real estate in limited partnerships. The myths probably arose because investors confused REITs with these limited partnerships. Part 3 discusses how professionals evaluate REITs. For most equities earnings are the important number to look at. But real estate can throw off alot of depreciation for tax purposes, but the real estate is not really depreciating (very much hopefully). The numbers used to evaluate REITs FFO, AFFO, NAV (and much more) are explained in this part. By the way the balance sheet and income statements of REITs are much easier to understand, in my opinion, than other corporations. That's because most of the assets are hard assets and the revenues are stable. You don't have to worry about foreign competition and technological obsolesence. Part 4 looks to the future. The total market capitalization of REITs was about $1 billion in 1982, now it is about $133 billion. Of course this growth primarily came about by starting new REITs, and REITs issuing stock to purchase more real estate. This part looks at the economic forces that caused this growth and whether it can continue. It also looks at the risks of REITs A clear, well written book about REITs which can benefit the new as well as experienced investor. klee12
Rating: 
Summary: REIT stocks belong in every investor's portfolio.
Review: REITs own, manage, acquire and develop all types of commercial real estate, including apartments, malls, neighborhood shopping centers, outlet centers, office and industrial buildings, hotels, healthcare and self-storage facilities, and even golf courses. Over the past 25 years, REITs have delivered average annual investment returns of over 14%. REIT stocks are less volatile and risky than most common stocks, and they provide excellent portfolio diversification. The typical REIT today yields close to 7%, trades actively on the New York Stock Exchange and offers good growth prospects with steady dividend increases. REITs are also a great substitute for direct real estate investments, as they provide much greater liquidity and diversification than most investors can accomplish on their own, eliminate the headaches of property management and promise steady investment returns. "Investing in REITs" discusses REITs, their strategies and their investment characteristics, and how you can maximize your returns by investing in them. The author has been investing successfully in REITs for over 20 years, and firmly believes that REIT stocks belong in every investor's portfolio.
Rating:
Summary: New, Improved Map of REITville
Review: Since the original "Investing in REITs" was published in 1998, much has changed in REITville. REITs endured a minor bear market in 1998 and 1999, the Congress passed the REIT Modernization Act of 1999, and the investing public found REITs a profitable place to invest as the rest of market fell away from them in 2000 and 2001. This book is an interesting and enjoyable text as the reader is guided through the history of REITS, property sectors, and a plain math approach to REIT analysis. The author revises the original book to include discussion of recent legislation which changes the amount of income that must distributed to shareholders and the rules which allows REITs to own taxable subsidiaries, and on a recent study that demonstrates the merit of including REITs in every diversified portfolio to provide currrent income, less volitility, and better returns. He also updates his "reading of the tea leaves", where he predicts the future for REITs. "Investing in REITs" is a must read for everyone who wants to know how to build a REIT portfolio.
Rating:
Summary: New, Improved Map of REITville
Review: Since the original "Investing in REITs" was published in 1998, much has changed in REITville. REITs endured a minor bear market in 1998 and 1999, the Congress passed the REIT Modernization Act of 1999, and the investing public found REITs a profitable place to invest as the rest of market fell away from them in 2000 and 2001. This book is an interesting and enjoyable text as the reader is guided through the history of REITS, property sectors, and a plain math approach to REIT analysis. The author revises the original book to include discussion of recent legislation which changes the amount of income that must distributed to shareholders and the rules which allows REITs to own taxable subsidiaries, and on a recent study that demonstrates the merit of including REITs in every diversified portfolio to provide currrent income, less volitility, and better returns. He also updates his "reading of the tea leaves", where he predicts the future for REITs. "Investing in REITs" is a must read for everyone who wants to know how to build a REIT portfolio.
Rating:
Summary: "On a scale of 1 to 10, it rates an off the chart 12"
Review: That is how Robert Brusss of Tribune Media Services reviewed INVESTING IN REITs. He goes on to describe it as, "authoritative, up-to-date", "speaks not only to the novice considering a stock purchase, but also the professional REIT investor", "a well documented eplanation about the various types of REITs". designed beautifully for easy reading, giving quick insights into the key topics", and "expert writing and enlightened presentation." Tom Gardner, cofounder of The Motley Fool, says, "Ralph Block has made the world of REITs acessible to all. This is a superb book for every investor." The book covers all essential aspects of REITs, including: • The ABCs of successful REIT investment • How to spot blue-chip REITs • How REITs compare to other investments • How to build a diversified REIT portfolio • REIT mutual funds Burton Malkiel, author of A Random Walk Down Wall Street, said in Bloomberg Personal Finance magazine, "If you want to move your portfolio toward terra firma, I strongly suggest you invest some of your assets in commercial real estate...REITs deserve a place in every portfolio." Here's the best book to help you acheive that goal.
Rating:
Summary: Some fundamental financial problems with this book...
Review: The book is an easy to understand introduction. Yes, Quality REITs can be a very good addition to one's portfolio as the book states.
But the book is a little biased, because one of the fundamentals
of modern portfolio theory is Risk vs Reward.
Yet this book has only 1 chapter (out of 12) discussing
the risks of REITs - and even in that chapter the risks
are down played somewhat. Yes, REITS can be a great investment true, but the book doesn't give the complete picture.
Rating:
Summary: Impressed!
Review: This book thoroughly reviews the many aspects of REITs in a clear, interesting and informative manner. Good information. Good writing. Very helpful.
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