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| | Location: Home » Buying a House » General » Investing in Duplexes, Triplexes, and Quads: The Fastest and Safest Way to Real Estate Wealth | August 20, 2008 |
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| Investing in Duplexes, Triplexes, and Quads: The Fastest and Safest Way to Real Estate Wealth | 
 enlarge | Author: Larry B. Loftis
Publisher: Kaplan Business
Category: Book
List Price: $19.95
Buy New: $12.21
You Save: $7.74 (39%)
Buy New/Used from $11.00
Avg. Customer Rating:  (36 reviews)
Sales Rank: 10983
Languages: English (Original Language), English (Unknown), English (Published)
Media: Paperback
Number Of Items: 1
Pages: 256
Shipping Weight (lbs): 1
Dimensions (in): 8.8 x 7.2 x 0.7
ISBN: 1419537253
Dewey Decimal Number: 332.63243
EAN: 9781419537257
ASIN: 1419537253
Publication Date: May 1, 2006
Release Date: May 1, 2006
Availability: Usually ships in 1-2 business days
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| Customer Reviews:
 Lots of good information + no sales pitch to buy other products December 29, 2007
3 out of 3 found this review helpful
I bought this book because I am thinking of selling my condo and buying a duplex where I would live in half and rent the other half as a first step into real estate investing (after reading this book I may actually shoot for a triplex or 4-plex if I can afford one). What I really appreciated about this book is it showed me how to value a multifamily property (based on monthly rents rather than what single family homes in the area are selling for) and was really a great introduction for a newbie investor looking for a steady way to build riches (and not another border-line illegal get-rich-quick scheme).
A big plus is that unlike other real estate information books I've picked up, this one doesn't try to sell you anything. It's not an introduction to the author's "sales funnel" as they say in the information marketing world. It's just packed full of great information that is useful to a novice real estate investor (someone experienced may already know a lot of the stuff, but there are probably still a few useful nuggets if you aren't an expert in residential multi-family units).
The only downside to the book is that the author bases his advice on his own experience investing in Florida during the real estate boom. A drunk monkey throwing darts at a map could have selected properties that would appreciate significantly in this area during this time period.
The author's buy and hold method, I think, makes sense in any area, but the idea of buying something, fixing it up a bit, and then taking out equity based on increased rents (to buy another property or pyramid up) is probably not going to be so easy in a flat market or less pricey parts of the country.
I would love to see the author revisit the book in 10 or 20 years showing us his experiences during real estate down cycles as well as during boom cycles, and also include case studies for parts of the countries that haven't seen the same huge appreciation as places such as Orlando.
That said, this book has a lot more useful information in it than most other real estate books I've picked up, and I have no problem recommending it.
 Say it three times December 8, 2007
4 out of 4 found this review helpful
The book kept me interested in the first four chapters, but began repeating itself to the point of exaustion. I think that the biggest flaw with his methods to wealth is that the author did this in one of the best markets in history in one of the highest appreciating real estate markets in the country. This fact alone makes one skeptical if this can be duplicated in any real estate market. The author gives one method to success by moving into one of the units, then fixing up the units to increase the monthly rent. Stay in the unit for two years, then repeat the process. If you are young and single, then this may work. If you are married and/or have children, then good luck convincing them that this is for financial independence. Another overlooked factor for this and the other methods that the author gives is that the cost of improvements are not included into the equation. By the way, I gave this book three stars because of the equations. The author states that to become really wealthy, buy the three or four plex, improve, rent out for higher rental rate, pull equity from property, then buy another piece of property. Well, in a quickly appreciating real estate market, this maybe possible to do, but typically not possible in the rest of the country. Remember that I am reading this during a time where the country, as well as where I live, are seeing huge decreases in property value.
In addition, finding property that you can do better than break even is a tough task and my wife is a real estate agent.
I can only hope that there is a better book out there on buying investment property. Until I find that one, you would do better talking to a mortgage broker and real estate agent for there thoughts.
Just pull a rabbit out of your hat. November 4, 2007
3 out of 3 found this review helpful
This book is more about making money for Loftis. You probably know most of the content already. It is light on tax consequences or benefits. Pretty much buy, fix, sell.
Decent investment book, but overly optimistic August 18, 2007
12 out of 13 found this review helpful
The basic investing information in this book is solid, the problem is that the plan for gaining wealth is overly optimistic for many areas of the United States. Larry bases his wealth building plan on very fortunate appreciation that he experienced on his first investment property. Then as the plan is taught you refinance that first property after one year and use that money to buy another property. In Orlando, FL (where Larry bought his property) around that time the appreciation was 25%, but what about the least appreciating cities like the one where I live at 3%? Then the wealth building plan that Larry talks about goes out the window.
I thought the best part of the book was the info on closing, ideas that I have not reading anywhere else. Word of advice, skip over the property management chapter, the weakest chapter in the book where Larry advocates screening tenant by using your "gut". That is a recipe for disaster.
WOW!!!!!!!!! August 16, 2007
1 out of 2 found this review helpful
Strongly recommend reading this book regardless of your level of expertise. I've learned, been motivated, and have a better insight of investing in income properties. Very simple to read and understand.
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