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Commercial Real Estate Investing For Dummies |  | Authors: Peter Conti, Peter Harris
Publisher: For Dummies
Category: Book
List Price: $21.99
Buy New: $9.58
as of 9/7/2010 18:44 CDT details
You Save: $12.41 (56%)
New (35) Used (16) from $9.58
Seller: Real Estate Book Store
Rating:  22 reviews
Sales Rank: 20453
Media: Paperback
Pages: 384
Number Of Items: 1
Shipping Weight (lbs): 1.3
Dimensions (in): 9.1 x 7.3 x 0.9
ISBN: 0470174919
Dewey Decimal Number: 332.6324
EAN: 9780470174913
ASIN: 0470174919
Publication Date: January 3, 2008
Availability: Usually ships in 1-2 business days
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| Features:
| • | ISBN13: 9780470174913 | | • | Condition: New | | • | Notes: BUY WITH CONFIDENCE, Over one million books sold! 98% Positive feedback. Compare our books, prices and service to the competition. 100% Satisfaction Guaranteed |
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Product Description
Thinking about becoming a commercial real estate investor? Commercial Real Estate Investing For Dummies covers the entire process, offering practical advice on negotiation and closing win-win deals and maximizing profit. From office buildings to shopping centers to apartment buildings, it helps you pick the right properties at the right time for the right price. Yes, there is a fun and easy way to break into commercial real estate, and this is it. This comprehensive handbook has it all. You’ll learn how to find great properties, size up sellers, finance your investments, protect your assets, and increase your property’s value. You’ll discover the upsides and downsides of the various types of investments, learn the five biggest myths of commercial real estate investment, find out how to recession-proof your investment portfolio, and more. Discover how to: - Get leads on commercial property investments
- Determine what a property is worth
- Find the right financing for you
- Handle inspections and fix problems
- Make big money in land development
- Manage your properties or hire a pro
- Exploit the tax advantages of commercial real estate
- Find out what offer a seller really-really wants
- Perform due diligence before you make a deal
- Raise capital by forming partnerships
Investing in commercial property can make you rich in any economy. Get Commercial Real Estate For Dummies, and find out how.
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| Customer Reviews:
Showing reviews 1-5 of 22
 Book Review September 5, 2010
philicia lloyd (Brooklyn, NY USA)
I received this book quickly and in the condition stated.
I highly recommend this seller!!
 I gained a good grasp of commercial real estate investing October 10, 2009
P. Chang (San Francisco, CA)
I have rental residential property and am interested in learning about commercial real estate. I thoroughly enjoyed Commercial Real Estate Investing for Dummies. The detailed checklists are handy tools and easy to understand. The book explains well the various facets of the business. I just finished reading the chapters on property management and protecting your assets. I learned the importance of limited liability companies. Also, the practical advice of how "mere respect and congeniality" can help in striking deals as well as avoiding lawsuits (asset protection).
I would highly recommend this book for those interested in commercial real estate investing. Also, Peter had helped my wife and I purchase our cuurent home. We saved a lot of money but I was struck how intently Peter listened to us and patiently explained various strategies. If you ever get a chance to consult with Peter, you will be treated with respect and an attention to detail for your property.
Good book on commercial real estate August 17, 2009
Mariusz Skonieczny (ClassicValueInvestors . com)
3 out of 4 found this review helpful
In this book, readers learn how to invest in commercial real estate such as office buildings and apartment buildings. I think that it provides a good introduction to real estate, but I will say that Chapter 13, Why Properties Fail, is the most important one. People tend to get excited about how much money they will make and forget about what can happen when they do not. I really liked how the author said one of the reasons for failure is to forget to run the property like a business. I will add to this a little more because this creates a refinancing risk.
Residential real estate is completely different from commercial real estate. Investors can place a 30-year mortgage on a single-family home and only refinance when the rates drop to a level that it is beneficial to them. However, commercial real estate can only be financed with a 3, 5, or 7-year mortgage meaning that the owner has to refinance after these years. This requirement can have a huge impact on whether you make or lose money. Here is why:
Let's say you buy a commercial property for $3,000,000, and it generates income of $600,000 and incurs expenses of $300,000. So you are left with $300,000, which is your net operating income. Let's say that the bank requires you to put down 25%, which, in this case, is $750,000, and you get a mortgage for $2,250,000. You operate the property for 3 years, and it is time to refinance. But for some reason your real estate taxes, insurance, and other expenses went up from $300,000 to $350,000. Also, you had to lower your rent or you lost some tenants and your income went from $600,000 to $550,000. Now, your net operating income is $200,000 ($550,000 - $350,000), which is less than $300,000 before. You might say this is not big deal because you are still making positive cash flow. I don't agree. This is a huge deal because commercial properties are valued mainly based on income and now your property is not worth $3,000,000 to the bank that will be refinancing the property. With a net operating income of $200,000, the property may be worth only $2,000,000, and this is a problem because you have a loan of $2,250,000. This means that you just lost your entire equity and some more. Now, you cannot refinance because you might not have enough money to pay the first bank, and you cannot sell because the proceeds from the sale will not be enough to pay off the mortgage. This is the problem that experts are discussing on TV during the current financial crisis. They predict that because property values went down, owners will not be able to refinance, and there will be an increase in the number of commercial real estate foreclosures.
If you decide to get into commercial real estate, I would also recommend paying attention to Chapter 18, Ten Ways to Increase Your Property Value.
- Mariusz Skonieczny, author of Why Are We So Clueless about the Stock Market? Learn how to invest your money, how to pick stocks, and how to make money in the stock market
My favorite beginner's book on commercial real estate January 19, 2009
Jeffrey D. Smith (LONGMONT, CO United States)
This is my number one favorite beginner's book on how to invest in commercial real estate. The book is basically a complete business plan and reference text. Keep a yellow highlighter handy. The book also has two "table of contents", a quick locator and the normal detailed table.
Of course, the authors slip in a "soft sell" for their mentoring/coaching services for those folks who want a little more hand-holding. Just be sure to compare the cost of mentoring to the cost of an experienced commercial real estate attorney. For $10,000 you can buy Conti's mentoring or you can buy a lot of commercial real estate legal advice from your attorney. Just remember that attorneys provide legal advice, not necessarily business advice.
Don't let the "...for dummies" title fool you. This book is much better than what the title suggests.
My number two favorite book is
Trump University Commercial Real Estate 101: How Small Investors Can Get Started and Make It Big. You can read my review of it over there.
A Solid Investment Book November 29, 2008
Patricia L. Hartman
This is a solid investment book directed at investing in commercial real estate ventures. Well thought out and well executed, the book should make a great reference for years to come!
Showing reviews 1-5 of 22
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