THE WORLD'S GREATEST REAL ESTATE BOOK: The One Way You Can Make a Fortune in the 80's by Robert Stloukal

THE WORLD'S GREATEST REAL ESTATE BOOK: The One Way You Can Make a Fortune in the 80's

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Far from being comprehensive, this assertively-titled handbook offers little substantive information on real-estate investment opportunities beyond a strictly limited sector of the residential market. Further, while Stloukal provides competent coverage of such subjects as single-family dwellings, apartment house management, and condominium conversion (but not vacation homes, cooperatives, or commercial properties) his penchant for smart-aleck asides strikes a jarring note throughout (e.g., don't lie, unless ""you have a reasonable chance of getting away with it""). Like most others working the real estate road to riches, Stloukal is a devotee of leverage--a technique whereby a small cash downpayment can swing a large purchase (for a proportionately greater return than would be possible with a bigger ante)--and the use of OPM (other people's money). Favored as well is the ""optioning"" of up to eight homes under construction through sales contracts with developers, which are underwritten by the equity in a presently owned house; the big idea, of course, is to sell out at a profit before title passes. Unfortunately, there are pitfalls involved in gambits of this sort which Stloukal glosses over. More positively, there are instructive tips on selling and lots of tables that illuminate the mathematical mysteries of appraisals, mortgages, tax liabilities, and such, plus a first-rate glossary. But the smart-money investment for aspiring land barons is still Harney's Beating Inflation with Real Estate (1979, p. 427).

Pub Date: April 1st, 1980
Publisher: Times Books