Very good investment approach
Reading this book reminded me of an investment style of a famous investor, Warren Buffett, who also prefers the approach of buying and holding for long periods of time. His preferred time frame is "forever." Investors are usually impatient and especially now with the economic recession, they are questioning whether the buy-and-hold strategy still applies to any type of investment whether it be real estate or stocks. Buffett was once asked in an interview if the buy-and-hold strategy still works, and he replied that it depends on what you hold. This is so true of real estate, too, and the author of this book places importance on finding properties in the right locations and in areas that have long term potential that will not only bring appreciation, but also increase rental rates over time. I was particularly impressed that he teaches investors to study building permits and the growth patterns of particular areas to figure out what the property will be worth 20 years into the future. Twenty years might sound like an eternity, but this is exactly what Warren Buffett does even though he is over 80 years old.
- 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
A solidly practical, user-friendly guide
Written by successful investor, real estate expert, and magazine columnist David Schumacher, Ph.D., Buy and Hold: 7 Steps to a Real Estate Fortune is a non-nonsense guide to real-estate investment, step-by-step. Buy and Hold is the antithesis to "flipping" guides; instead of buying property with the goal of reselling it, Buy and Hold is about buying property and using it to generate long-term profit. Chapters cover how to use the Internet to help one purchase real estate, how to analyze the growth potential of property, timing one's investment to gain a boost from the economy, the advantages of using a real estate broker, real estate axioms, and much more. "Avoid the loss of income by performing a periodic rental analysis. Keep up with what is happening in the market and adjust the rents accordingly." A solidly practical, user-friendly guide especially for serious-minded real estate investors in it for the long haul.
where to start...
The authors advice is extremely outdated for one. Prices, financing and sophistication levels of sellers have reached light speed since the author started investing. He is not a very good author to boot. Disorganized and scattershot would classify his writing style. If you like listening to Grandpa talk about the 'good ol days' then maybe this book is for you.
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