Book Review - Retire Rich From Real Estate
Recently, I finished reading a great book entitled Retire Rich from Real Estate
This is a great book because not only is the subject of investing in residential real estate covered completely but there are lots of interesting tidbits of information that can help you decide which type of rental property is right for your market, location and temperament.
Also, the complete “life cycle” of the investment is covered. There are explanations about how to determine which property to buy, how to finance it the best way, how to manage the property properly(i.e.- deal with tenants effectively) and finally, how to sell the property and cash in.
One of my favorite chapters is chapter two which goes into the demographic makeup of renters and how they affect the local rental market. This chapter also sheds some light on what the future demand for rental property will be and how you can profit from it.
Another plus is that the author presents some pretty in-depth formulas for valuing a property and determining its suitability as an investment. From my own experience, these formulas are way more in-depth than those I used for selecting my properties. On some of those deals, I wish I had used the author`s formulas.
In my opinion, this book is required reading for anyone interested in residential real estate investing. The key would be to read this book BEFORE jumping in head first.
