The Advanced Guide to Real Estate Investing: How to Identify the Hottest Markets and Secure the Best Deals

by Ken McElroy

If you're interested in real estate investing, you may have noticed the lack of coverage it gets in mainstream financial media, while stocks, bonds, and mutual funds are consistently touted as the safest and most profitable ways to invest. According to real estate guru Ken McElroy, that's because financial publications, tv and radio programs make the bulk of their money from advertising paid for by the very companies who provide such mainstream financial services. On the other hand, real estate investment is something you can do on your own--without a large amount of money up front. Picking up where he left off in the bestselling ABC's of Real Estate Investing, McElroy reveals the next essential lessons and information that no serious investor can afford to miss. Building on the foundation of real estate investment 101, McElroy tells readers:

How to think--and operate--like a real estate mogul

How to identify and close expert deals

Why multifamily housing is the best real estate investment out there

How to surround yourself with a team that will help maximize your money

How to avoid paying thousands in taxes by structuring property sales wisely

Important projections about the future of real estate investment

Genres: Business, Finance, Nonfiction, Money

175 pages, Paperback

First published May 29, 2008

Reviews

[Vaibhav Puranik · Rating 4 out of 5]

It's a pretty good book. There are couple of chapters with good amount of details - The chapter about making an offer and the chapter for due diligence are good. Some interesting insights bases on the author's experience are mentioned. Definitely worth reading for anyone who wants to buy a commercial Multifamily.

[Derick Mboweni · Rating 5 out of 5]

This book is for those serious about Real Estate Investing

I like the practical examples that the author uses in this book makes it easier to understand the concepts. I recommend this book to anyone who wants to become Real Estate Investor. For the reason that I mentioned it deserves a five stars rating.

[Peter Lange · Rating 5 out of 5]

It is a very good book, however there isn't a lot more information than in his first book. I would still recommend it to read since there are more examples and you won't forget about his advice if you read about his view twice :)

[Susan Tan · Rating 3 out of 5]

I'm still not sure how to even buy an apartment building as a beginner. This is not a step-by-step guide: there's a lot of work in getting investors to buy a building. The math and due diligence are stressed as important factors.

[Tom Horn · Rating 3 out of 5]

This book was way too brief to discuss the particular type of real estate investing described here. If you are looking to purchase multi-million dollar apartment complexes, you'd better educate yourself and read a lot more than this short little book.

[James Allred · Rating 4 out of 5]

Focuses more on multi family homes than real estate in general. Nevertheless, it’s a good resource for finding and buying property. There are some limitations with application to our current real estate market.

[Adrienna · Rating 1 out of 5]

The book seemed outdated to me, but as a novice in real estate, I didn't like the read. Only one chapter I got insight from, close to the end in the myths.

[Andy · Rating 5 out of 5]

This book is an excellent resource for a great system to evaluate and acquire multi fam properties. Must read for serious investors.

[Gwen · Rating 5 out of 5]

Learned so much!

[Amr Swalha · Rating 5 out of 5]

It goes well deeper but I wish it covers market outside the US

[Ronald J. Pauleus · Rating 5 out of 5]

Practical & real helpful

[Amed Maximo Muñoz · Rating 3 out of 5]

Nice basic big picture stuff, as expected with this type of small book it will get you thinking in the right direction but it leaves a lot to be learned.

[Nicholas Wang · Rating 2 out of 5]

IMHO, hardly advanced at all. I was rather disappointed by this book.

Ken introduces the book by proclaiming several (well known) key advantages of real estate investing. In the next chapter he fine tunes his argument for large scale apartment buildings. In a later chapter, he identifies 10 hot-to-trot markets to watch in the future, including the ill-fated Las Vegas. None of these sections were "advanced".

The real contribution in this book, I think, is his accounts of two real world experiences in purchasing apartment buildings with potential and executing to that potential. Best of all, he did it with other people's money (and explained how he got it).

The knowledge encapsulated in these two experiences probably made the book a net win. But the title promised so much more.

[Douglas · Rating 4 out of 5]

Overall, a good book that cuts straight to the chase about multifamily investments. A great quick overview that touched on a variety of topics briefly, but with enough depth that it delivers real value and content. I couldn't have done a better job myself.

Its definitely a worthwhile read and is not a dry read. Real estate generally is, but you will go through this faster than other books.

[Darryl · Rating 5 out of 5]

Though ABC's defiantly must be read first, this is an important book to determine where and how to look. The best property bought in the wrong area will still not make you money. Start with Rich Dad, Poor Dad and the ABCs of Real Estate Investing, then start looking at this one...

[Renee Pie · Rating 4 out of 5]

If you're interested in buying multimillion dollar apartment buildings out of state, this book is pretty useful. If that's not what you want to do, this book might not be for you. It is among the most actionable/practical real estate books I've read so far.

[Dan · Rating 4 out of 5]

Pretty good multi family primer from someone who obviously has experience

[Ahmad Moshrif · Rating 5 out of 5]

Great book for anyone who are interested in Real estate investing, I think it is more into workbook style.

[Geraud]

Good

[Brian · Rating 4 out of 5]

It was another useful book to go along with his first one on real estate investing.

[Austin Luca · Rating 5 out of 5]

Very helpful, and full of practical information. Even though I disagree with some of the Rich Dad philosophy of hating on "active income", I read these books because of the helpful information that I can't seem to find anywhere else.