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Rating: 
Summary: This is well focused mid-size apartment investment guide.
Review: I have been investing in residential properties for 27 years. Over the years I also attained the Certified Property Manager (CPM) designation. Based on my long experience and review of many other books in this field over the years, I find Vollucci's work an excellent one. The book covers all the essential steps an investor should take, and it is not too technical. Buying apartments or even fourplexas requires a considerable amount of work. At first properties may be hard to find and evaluate, but gradually one becomes more and more at ease with the process. Like no other, this book brings together all the elements of search and evaluation. In my opinion this is the best multi-family residential investment guide to date. I just bought my paperback last week (March 1999) and found that it was published in 1993. Although the nation's economy and real estate market for the most part has improved since 1993, this guide is entirely applicable today, even in my fairly tough area (Austin, Texas). Needless to say, I wish I had read it five years ago.
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Summary: Vollucci is one of the best
Review: If you want a top notch contemporary, practical guide to the realities of real estate investing, this is the book. Vollucci approaches the game of buying apartment houses from his background of many years as an accountant. He evidently learned from his wealthy clients and has figured out the formulas for identifying suitable locations in which to invest. His explanations are virtually void of hyperbole and he writes in a clear jargon-free manner. In addition to outlining his methods for analyzing markets and regions this book includes sections on syndication, marketing, and strategies for buying and arranging financing. This is not a game for the unsophisticated, but if you do the homework these strategies are the prudent investor's standard fare. Also, his references on how to use consultants and getting computer programs to help with analysis have can save alot of legwork.
Rating: 
Summary: Reads Like an Info-Mercial
Review: Its too bad that the "good" reviews get better positioning on this book than the "poor" reviews. I am a lawyer who deals with real estate issues regularly. I was interested in getting into the business myself and this book was of no help at all. I am in a smaller town which made it particularly useless to me as the examples he used were all in places that had plenty of "comps" and other big city services and information available.This book was way too short on nuts and bolts information with lots of dead-ends. Amazon should sell this book as an advertisement only and not for the serious (novice) investor. There is a similar book by Berges that I bought (at Amazon's recommendation) at the same time which is MUCH MUCH BETTER--and its reviews bear this out. I am not related to and don't know Berges.
Rating: 
Summary: Some important things left out & old examples
Review: Overall, I liked the book. It seems helpful. BUT, it is indeed outdated by 10 years, and although he mentions the IRR (Internal Rate of Return) over & over, as the most important number to evaluate a property -- he never explains how to calculate it or even what it is. I had the oppty to ask him in person (8/2002) what the formula is, and he hedged. He said that he knew it once, but now the computer calcs it, and to buy his ($$$) "Tenants In Common" text & Dr Jack Friedman's software package (also 10 yrs old, runs in DOS mode & WinME). Ok, so maybe 10 years isn't so old in Real Estate, but I was miffed that I couldn't find this important formula in the book anywhere. A few minutes with Google & I discovered that the IRR is indeed a very complicated calc that is much better for a computer to figure. The IRR is a measure of your investment; taking into account the Time Value of Money. The book didn't even say that. Otherwise, it's an ok book, and he uses examples that he is familiar with. Probably a better investor than writer.
Rating:
Summary: Some valuable HIGH LEVEL information, be careful some advice
Review: The author provides very sound reasoning and advise for investors on why they should consider larger multi-family units vs. single family homes, or 2, 3, or 4 unit apartments. There's also outstanding advise on partnering to acheive results, and ideas on putting together a team of experts for smart execution. Other outstanding ideas for negotiating financing, and formulas for evaluating fair market value. Very excellent advise overall. Nevermind the publication date. This is an excellent book for profiting in real estate.
Rating:
Summary: A Total Waste of Money
Review: This book is outdated and incorrect in many cases. The author presents data from the 80's, and no real substance behind his recommendations. I use the criteria of "one good idea in a book makes it worth reading". I honestly did not get one idea from this book. DO NOT WASTE YOUR MONEY!
Rating: 
Summary: I don't agree with the previous comment
Review: This book offers some decent advice as to market timing and investment strategies as particular to apartment buildings and it shows a possible scenario that assumes appreciation of the building (which is what everyone assumes anyway when the invest in real estate). I thought it was pretty good. At least it wasn't a get-rich-quick scheme as most real estate investment books seem to be.
Rating:
Summary: this is a [Bad] book about a [Bad] get rich scheme!
Review: This book published in 1993 is one of the worst real estate books ever written. It surprising that a book this bad has lasted this long. Anybody who gives this book a good review is related to the author or seriously delusional. Some real estate books are bad because the author is unfamiliar with the topic, or can not offer detailed real world advice from their theoretical perspective. Believe it or not some real estate books are written by authors, who don't know what they're talking about, or tell a tale that has no basis in the practical real world. Mr. Vollucci apparently has been an investor for 25 years, at least according to the book's cover. so from his years of experience, you would assume that he would write a good book. You know what they say about assuming. He also has taught a real estate seminar entitled "Three Moves to a Million." This is a catchy title! The author states, "You too can become a millionaire starting with just $6,000, and you can do it in only three moves, if these moves consist of investing in midsize apartment buildings." He further defines midsize as 18 to 100 unit complexes. The first move is to buy a "hypothetical apartment building for $600,000" in Phoenix. He hypothetically forms an investment group of 10 individuals who put up $6,000 EACH for the down payment. Four years later the Phoenix property is "hypothetically" sold for $860,000. And a second "hypothetical" 44 unit building was bought in Boston for $1,750,000, now with a group of 5 investors. Apparently one "hypothetical" investor went home. Two years later the Boston property is "hypothetically" sold for $2,325,000. The third move was a 40 unit building in Seattle bought for $1,450,000 with no investing group. The one investor takes the proceeds from the Boston building and buys the Seattle building by himself. In 1990 the Seattle building was "hypothetically" sold for $2,267,043. Therefore the author using a computer program and 10 years of hindsight turned a mythical $6,000, into a "hypothetical" $1million dollars in only 10 years. In the book are other facts that are suspect. For example its written in the book "that seven out of ten millionaires made their money in real estate." Read "The Millionaire Next Door" and the Forbes 400 riches for the real scoop. You'll find that the 7 out of 10 figure is grossly exaggerated by the author. If you want to play a computer game and you want a million dollars "hypothetically", then this is the book for you. Otherwise read "The Millionaire Next Door" By Thomas Stanley and William Danko for information on REAL life millionaires. And for buying real estate apartments read William Nickerson's "How I Turned $1,000 into a Million in Real Estate in my spare time", which is not a computer simulation game.
Rating:
Summary: Gheeeeeeeeeze
Review: Well, after attending one of his "investing in rentals" seminars, some of the information was ok, some vauge, some just absolutley avoided unless you paid the $500 "member" fee. What a crock. I think if you could read enough books on real estate, talk to some other people, you could figure out how to do it. it is not rocket science at all, save your money, don't buy the book, go take some classes instead. Real estate can be a frightening subject to many, but think about it, your living in a house or apartment. One other thing, he appeared to be a pushy salesman - be aware
Rating:
Summary: Reads Like an Info-Mercial
Review: Well, after attending one of his "investing in rentals" seminars, some of the information was ok, some vauge, some just absolutley avoided unless you paid the $500 "member" fee. What a crock. I think if you could read enough books on real estate, talk to some other people, you could figure out how to do it. it is not rocket science at all, save your money, don't buy the book, go take some classes instead. Real estate can be a frightening subject to many, but think about it, your living in a house or apartment. One other thing, he appeared to be a pushy salesman - be aware
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