Money-making Real Estate
Carolyn Janik’s MONEY-MAKING REAL ESTATE reevaluates the investment opportunities in real estate in the light of lower property-appreciation rates and reduced tax-shelter advantages. She covers primarily single- and multifamily residential projects, but she considers them at all stages of development, from vacant land to hammer-and-nail conversions. She also covers the degrees of involvement available to the investor, from direct involvement or partnership formation to dealing in real-estate options.
Janik concentrates on the personal characteristics of the investor or group of investors that will determine their success with the various real-estate investment vehicles, such as willingness to take risks, decision-making ability, financial savvy, and patience. She also analyzes each type of investment with regard to the specific investment tools it requires in the way of time, money, and knowledge. She provides checklists and worksheets to help the investor in such areas as inspecting property, comparing investment alternatives, evaluating prospective tenants, and calculating profits. A chapter on negotiating initiates the neophyte.
Janik criticizes the no-money down, get-rich quick, television-seminar salespeople, but her own upbeat, chatty style and her glowing success stories glamorize real-estate investing more than it warrants. The information she provides is, however, accurate, and her advice reflects considerable experience, so the book will prevent many novice investors from making expensive mistakes and should lead a few to handsome profits.