Can you recommend a good book for a beginner on how to buy first apartment bldg?
Hi,
It is great that you are looking for resources, sometimes great books slip in under the radar and you never hear about them. Not sure that will be the case with this book, but since it is new I thought I would tell you about it.
I just wrote a blog about a great book that was just released. It is called Commercial Real Estate Investing 101 and it is by the Trump University people.
I just got it and so far so good.
Hope this helps and happy reading.
Also check out Dave Lindahl’s Multi-family millions it has a few good lessons in it.
The single best book I’ve found is by Ray Alcorn entitled "Dealmakers Guide to Commercial Real Estate. Ray uses his 35 years of experience to make commercial RE understandable. It’s expensive ($599 and yes, I bought it), but worth every penny in that it’s not a top-level motivational text with little execution substance. Instead, Ray answers all your quesstions, even before you ask them…something few books do. Believe you can order his book here or right off the web. Just google his name.
PwrXchang
anything with David lindhal. try out his new book for small investors through Trump University or Commercial real estate for Dummies Book
Excellent book by David Laindahl is “Emerging Real Estate Markets” - How to find and profit from up-and-coming areas.
You need a book on how to obtain financing when no one is lending. If you’re a newbie you won’t be able to buy anything without hard money or owner financing. The days of risky underwriting are looooong gone.
Lenders are still lending, they’re just more strict. Like 25% down and >700 credit (at least).
Commercial Real estate 101 is a great place to start.
Yeah, exactly. How many newbies would you guess have 25% down and a credit score of 700+. Also, there are many lenders that are literally not lending a dime, no matter who the borrower is. Basically, the lending environment is not ‘newbie friendly’.
whoops, I skipped over the part of your statement that said newbies can’t.
In which case, yeah you’re right, you’re going to need a partner to do pretty much anything.
Check out Ty Hicks, he’s been writing about creative financing for 30+ years… How to make BIG money in real estate would be my recommendation. It’s more on getting creative to acquire property than it is about specifically buying apartment buildings but addresses the “newbie” issue