Archive for the ‘real estate books’ Category

How to Publish a Book on Real Estate Investing, Part 1

Friday, October 5th, 2007

Let me warn you, writing and publishing a book is like eating a giant piece of beef jerky. It’s rewarding, but it takes more time than you think.

Now that I am in the final stage of this long process, for my book Fix em Up Rent em Out, I can pass along my experiences by writing and self- publishing a book. (As a 2012 update, I have recently published a second book entitled, “Carve Out Your Niche,” which describes how to self-publish and promote a book.)

My initial thought was to write a book about what, to me, was a rewarding real estate experience. I wanted to inspire others to get started in the real estate investing, and to share the shortcuts and to point out the pitfalls of the business.

But, I wanted to do it the same way that I did real estate investing, by learning all aspects of the process and doing it all myself.

The actual writing of the book took 2-3 years in starts and stops. I did most of the writing late at night when my wife and kids were asleep. There were long stretches of time, between periods of writing, when I didn’t think I would finish. At times, doubts crept in and I wondered if I really wanted to publish a book.

What finally convinced me to finish was a book I read entitled “Aiming at Amazon” by Aaron Sheppard. The old way of publishing a book was to print off thousands of copies to reduce the per unit cost, then sell them at bookstores and workshops. The new way, that Sheppard describes, is to sell the books through web bookstores like Amazon.com and to have the printer only print books as they are needed.

Part II of “How to Publish a Book on Real Estate Investing” will follow in the next blog posting.

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Should you attend a real estate boot camp to learn about investing?

Thursday, September 27th, 2007

Should you invest in fixer upper rental houses the old fashioned way, or try to learn it all in 2 days?

Yesterday, I received an email announcement inviting me to a real estate boot camp. It read,

The Ultimate Investor’s Bootcamp!

“You’ll Be Spoon-Fed Cutting Edge Tactics & Insider Secrets. And You’ll Walk Away Knowing Exactly How To Create Stunning Business Success & Vast Amounts of Positive Cash Flow.”

New investors must wonder, “Do I need to attend workshops like this to learn to invest in real estate?” It sounds tempting to be able to learn everything you need to know about investing in 2 days. Who wouldn’t want to take a shortcut like that?

My response is that you might learn some good techniques on investing at a bootcamp, but is it worth the money? I’ve been to free introductory presentations that say you will learn money making techniques about real estate investing, but it turns out to be a sales pitch to get you to sign up for an expensive “mentoring” program. Since the email with the above ad did not mention any price for the bootcamp, I imagine its not cheap. The important thing about bootcamps and mentoring programs is that you can spend a lot of money and only learn a little information. Worst of all, you can get roped into buying a program that sounds good, but may not be as good as it sounds.

My philosophy is more of a “do-it-yourself” approach. I like to cut corners, save money, and not take too many chances with my money. I’m the kind of guy who wears both a belt and suspenders to hold my pants up. I really like play it safe.

To get started in real estate investment, I would recommend to start by reading some of the excellent books that are available, such as “Investing in Real Estate” by Andrew McClean and Gary Eldred. I think you can learn more from reading a book like this than you can from going to expensive seminars. It provides information on many aspects of real estate that investors should know, without having a hidden agenda to get you to buy something more. I have mentioned other useful books in earlier blog postings, such as those by Jay DeCima, Bryan Wittenmyer and John Schuab.

You can also learn very useful information by taking real estate investing courses taught at local community colleges. I took one when I was just starting to invest, and it was outstanding. It was taught by a real estate agent who was an investor. The students learned all of the basics from someone who was actually investing in the same community where we would invest. I learned basic techniques that I am still using.

You learn by visiting a lot of houses and talking to owners and real estate agents. Practice calculating how much monthly payments would be for houses that you visit. Talk to other real estate investors. After you have a idea of how the process works, and when you can recognize a good deal from a bad deal, buy a low-priced fix-up house and learn to repair it as you go along. That’s what I did, and 7 years and 6 houses later I am still going strong.

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How to Learn the Skills to Repair Houses, part 2

Wednesday, September 26th, 2007

This of Part 2 of my reponse to a question asking, “My background is not in the building trades. How do I learn the required skills to start a business in repairing houses and renting them out?”

How to learn the appropriate skills:

3. Draw on the Past

After I got more involved in the repair work of our houses, I thought back about how my father had taught me a lot by example. I recall seeing him construct screened-in porches on various houses that we had lived in. I was too young to help out much at the time, or to appreciate what he was doing, but looking back I realize that it required a strong desire to learn the basic principals, and a sense of self-confidence to build it. He had no formal training in construction, and didn’t have reference books like I do, but he learned by observing other porches that had been built in the neighborhood.

I also have a friend who has made a career out of living frugally. He does virtually all of his own house repair and car repair work. If he gets stuck, he goes to the library and finds books to help him. It helps that he has a background in teaching vocational eduction. We have helped each other with house repair projects over the years, and he is a source of practical advice when I need help.
You too may have family members, or friends, that you can draw insight and inspiration from when it comes to making repairs.

4.Create a House Repair Library

I like to scour the fix-up book areas at used book stores for good buys. I buy a book as soon as I see it if I know that it has valuable information. In the past, I have waited to purchase the book only to return later and find that the book I had wanted was gone. The price you pay will literally be a drop in the bucket compared to the money you will save. I have books on almost every possible repair topic, including electrical wiring, plumbing, flooring, you name it. Some books that offer information on a wide variety of repairs, such as Reader’ Digest “Fix-it Yourself Manual” and Better Home and Gardens Complete Guide to Home Repair,” are also good to have. See my earlier blog for more infomation on recommended repair books.

When a book is not enough, I can usually get good advice on specific jobs at hardware stores, like Ace Hardware. And, you can sometimes get advice on difficult repairs by doing a Google search.

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Update on “Fix ’em Up, Rent ’em Out” Book -the wheels turn slowly, but still they turn

Friday, September 21st, 2007

My book, “Fix em Up Rent em Out,” is slowly approaching the finish line. It can be a slow process to get a book published, slower than I initially imagined. I finished the actual writing in June. The editing was finished at the end of August. It took until just this week for the cover to be completed. I shipped it to the printer yesterday. What’s left for me to do is to review the review copy, when it is send to me. Shortly after that the book should appear on Amazon.com and Barnes&Noble.com.

Way back in June, I thought it was a safe bet to set a September publication date on the book. That turned out to be wishful thinking. I calculated that would give me plenty of time to finish up all of the publishing-related details and even have it at Amazon.com before the deadline. Now it looks like it will be available in early October.

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My List of House Repair Books – The Best of the Bunch

Thursday, August 23rd, 2007

**Book Update** My forthcoming book entitled “Fix ’em Up, Rent ’em Out: How to Start Your Own House Fix-up and Rental Business in Your Spare Time” is in the final stages of production and will be available at Amazon.com in September 2007.

In operating a house fix-up and rental business in my spare time, I have found the following books to be very useful. If I encounter a repair that I have never done before, the books on the link below are my guides.

In 400 B.C. Archimedes said, “Give me a lever long enough, and a fulcrum upon which to place it, and I shall move the world.” Your tools and books are your lever and fulcrum. Once you have them there will be no stopping you.

House Repair Books – The Best of the Bunch

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My List of Top Books on Fix Up House and Real Estate Investing

Tuesday, August 7th, 2007

Learning about real estate investing, just like life itself, is a never ending process. You should be gathering information about house repairs and investing everywhere you go. Never let an opportunity pass to learn. I encourage you to buy books and videos on house repair and real estate investing.

Your books are invaluable guides when you are starting a project you haven’t done before, or in the middle of making a repair, and need reliable input on how to do it. I like to scour the fix-up book and real estate book areas at used book stores for good buys. I buy a book as soon as I see it, if I know that it has valuable information. In the past, I have waited to purchase the book only to return later and find that the book I had wanted was gone. The price you pay will literally be a drop in the bucket compared to the money you will save in the long run.

Click to view my Top Books About Fix Up Houses and Real Estate Investing located at Amazon.com.
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