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The Complete Guide to Buying and Selling Apartment Buildings, by Steve Berges
PDF Ebook The Complete Guide to Buying and Selling Apartment Buildings, by Steve Berges
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Whether you?re a first-time real estate investor or a seasoned professional, The Complete Guide to Buying and Selling Apartment Buildings helps you map out your future, find apartment buildings at a fair price, finance purchases, and manage your properties. Now revised and expanded, this Second Edition includes tax planning advice, case studies of real acquisitions, and appendixes that add detail to the big picture. Plus, it includes a handy glossary of all the terms investors need to know, helpful sample forms that make paperwork quick and easy, and updated real estate forecasts. With this comprehensive guide at hand you?ll find profits easy to come by.
- Sales Rank: #13394 in Books
- Brand: John Wiley Sons
- Published on: 2004-12-20
- Original language: English
- Number of items: 1
- Dimensions: 9.10" h x .70" w x 7.40" l, 1.24 pounds
- Binding: Paperback
- 324 pages
- John Wiley Sons
From the Back Cover
A revised and expanded edition of the bestselling guide to investing in apartment buildings
Investing in real estate is a tried-and-true way to build assets, increase income, and prepare for retirement or the expense of college. With the proper guidance, a well-defined plan, and a little capital, anyone can profit by buying and selling rental properties.
Whether you're a first-time investor or a seasoned professional, this straightforward guide helps you map out your future, find apartment buildings at a fair price, finance purchases, and manage your properties. If you're an active real estate investor focused on single-family properties, Steve Berges's step-by-step plan shows you how to make the jump to multifamily units.
The Complete Guide to Buying and Selling Apartment Buildings includes tax planning advice, case studies of real acquisitions, and appendixes that add detail to the big picture. This new Second Edition also includes a handy glossary of all the terms investors need to know, helpful sample forms that make paperwork quick and easy, and updated real estate market forecasts. Inside you'll find:
- Ten ways to create value
- Six ways to locate multifamily properties
- Five key ratios every investor should know
- Two crucial techniques that will help any investor save thousands
- Three ways to determine how much a piece of property is really worth
- Five cardinal rules of successful negotiations
- Six reasons sellers sell their property
- Four effective exit strategies
- Five keys to your success
- And much more
About the Author
STEVE BERGES is a real estate investment professional with over twenty-five years of experience. As principal of Symphony Homes, he is an active investor specializing in creating value through various real estate mechanisms, including single-family houses, multifamily apartment complexes, and the development and construction of single-family and condominium housing communities. He holds an MBA in finance and marketing from Rice University. His other books include The Complete Guide to Real Estate Finance for Investment Properties and The Complete Guide to Flipping Properties, both from Wiley.
Most helpful customer reviews
5 of 5 people found the following review helpful.
Recommended!!!
By TomHunter1968
I bought this book, along with two others, after some careful research into real estate investing books on Amazon (customer ratings, reviews, etc.). These were part of a Christmas present several years ago to my younger brother who is working hard - very hard, actually - to break into the real estate investment world. I wanted to report back that he found this book informative and insighful and still refers to them today from time to time. I had been over at his house this weekend, and he actually mentioned the presents, and told me that he actually found some useful info in this book, and that it wasn't just another get-rich-quick or uninformed hack job, both of which are so prevalent in real estate literature (and have been for years, as you probably know). So, I can say that I definitely recommend this book to anyone - especially someone starting out in the field of real estate investment properties.
12 of 13 people found the following review helpful.
A wise investment if you are a real, real estate investor
By Amazon Customer
I bought this book a number of years ago. I already owned five houses and some small multi-family properties. This book opened my eyes to a new understanding of income stream valuation. With individual homes and small multi-family units, your capital appreciation is limited by the comparable properties in the area. Having a higher rent doesn't make any real difference. With larger multi-family properties you can increase the value substantially by finding a poorly run property and managing it better. This may involve renovation or it may simply be a matter of understanding and achieving market rents.
After buying this book I bought a 6 unit property, a 21 unit property, a 22 unit property and now have a 44 unit under contract which will take my portfolio over 100 units. I'm refinancing my 21 and 22 unit properties and pulling out enough equity that I'll be able to buy the 44 unit without any cash out of pocket.
Steve's spreadsheet product has been very helpful in evaluating properties for a number of different variables many of which are also used by lenders which allows you to talk the same language when you seek financing. The reason I gave the book 4 stars as opposed to 5 is that the time frames he suggests based on a 20% increase in value just aren't typical due to the costs of buying and selling. You need more like a 35-40% increase to trade up. That said, the theory works, it just takes longer.
4 of 4 people found the following review helpful.
Apartment Investing "Bible!"
By Keith Brockmeyer
My well-worn copy of this book is almost always within arms reach in my office! Used the techniques provided to purchase a commercial office building and a 48-unit apartment complex, and refer to it often. I have recommended it to numerous real estate clients who have also purchased copies. (Never lend it out, because I know I would have to get a new copy!)
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