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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: $12.35
You Save: $7.60 (38%)
Buy New/Used from $11.95
Avg. Customer Rating:  (38 reviews)
Sales Rank: 7735
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:
 Good book but could be more balanced March 9, 2007
69 out of 71 found this review helpful
This book is well written and a quick read with a fair amount of repetitiveness. The author details his experience with rental properties primarily in an era of extreme appreciation of which he bases most of his theory on. I don't believe it is realistic to expect properties to increase at the rapid rate that he suggests which is the premise behind one of the plans he outlines which is to quickly refinance and purchase properties. Keep in mind that he is located in southern Florida which was one of the fastest appreciated areas of the country during the heyday of the recent real estate boom and it was during that time that he continuously refers to. It is my opinion that the author should temper some of his claims with the fact that not all investors will be able to execute his rapid fire acquisition strategies in an environment that is dissimilar to the one he had which was very unique and uncommon. What I'm trying to say is that his assumptions are absolutely "best case" scenarios which are unlikely to be duplicated by the majority of investors.
The one other area of the book that I had a problem with was in the area of tenants. He claimed that he doesn't run background, credit, etc. checks on prospective tenants and prefers to "go with his gut" on whether he feels the tenant is suitable to occupy his property. He goes on to say that if you invest in higher quality properties you will attract higher quality tenants. That is probably true but I don't think it eliminates the need to thoroughly screen prospective tenants. I'm not sure what it's like in south Florida but I can tell you that here in Washington state there is a big problem with methamphetamine labs in rental properties. The financial liability for the property owners is huge and not covered by insurance. When these meth labs operate out of rental property,(half of all labs found do) owners pay a high price that includes: civil penalties, property damage, decline in property values, dangerous and threatening tenants, resentful and angry neighbors, and loss of valued tenants. This is nationwide problem that every potential rental property owner should be aware of. In my opinion, to not perform absolute due diligence in the screening of tenants is unnecessarily exposing yourself to a disaster with serious financial implications. Of course the potential threat doesn't disappear just because the tenant passed the screening phase. There are other monitoring measures that property owners need to follow after the tenants move in to protect the property. My advice would be to spend the money and do the checks.
Overall, I did enjoy this book and would recommend it with the suggestion to readers that they play devil's advocate to arrive at a more balanced perspective of this particular type of real estate investment investing.
 a review: socialst or capitalist? February 23, 2007
2 out of 24 found this review helpful
Well on one hand I want to let you know what this book did for me and on the other hand I want to increase my chances of successfully investing in real estate....
Good book, one of the better I have read January 9, 2007
19 out of 19 found this review helpful
This was a very good book about real estate, and gives a clear strategy on how to establish yourself as an investor while taking advantage of tax scenarios. Eve further he gives great references to other books that he reccomends, of which I have read many. The reason I dont say this is a great book is that there are some things that arent addressed very well. For instance, this book is written from the perspective that you will have rapid inflation appreciation on housing, and that multifamily residential is at even pace with single family (it isnt). It also doesnt consider interest rates (rising) as it relates to refinincing - and whether that is a good idea. Instead it treats rates as a constant. Other than that, this is a really good book.
Excellent book for newbies January 5, 2007
4 out of 8 found this review helpful
Mr. Loftis keeps it simple and provides a good argument for his approach to wealth building.
let your networth build November 10, 2006
7 out of 11 found this review helpful
Loftis clarifies an often misperceived investing venture, that you can only invest in rentals alone. Being in organizations or being part of an investor group allows you to run rentals hassle free w/ good returns. Very good book. Other recommended real estate book: Investing Without Losing (ISBN 0978834607 NOT on amazn, other stores)
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