Smart Investment Moves

A real estate investor and a tax strategist team up for a nuts-and-bolts guide to finding strong residential and commercial investments.

REVIEWED BY KELLY QUIGLEY

The Insiders Guide to Making Money in Real Estate by Dolf de Roos and Diane Kennedy (John Wiley & Sons Inc., 2005)

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You’re a real estate expert who helps others buy and sell properties, but are you using that knowledge to make your own real estate investments? If not, now’s the time to start, say the authors of this book, the second in a series of products recommended by the NATIONAL ASSOCIATION OF REALTORS® that focus on real estate investment. De Roos, an international real estate investor, and Kennedy, a tax expert, shoot down popular excuses for not investing, including “myths” that only the rich can do it or that there are no good deals left. Although this book is primarily geared toward consumers, it provides some practical tips for making money, lowering taxes, and building a team approach to property investment that also can aid in your own investment plan.

Tips From the Book:

• Tidy up to increase property value. One of the most simple things you can do to increase the value of your investment is to tidy up the property. Groom the landscaping, pick up the trash, put on a fresh coat of paint inside and out, replace old carpeting, and fill in those driveway potholes. A weekend of general tidying can make a big difference in an appraiser’s report.
  
• Take a team approach. To go from one property to 100, you’ll need to leverage your time through the use of a team of advisers. Any team should include a real estate practitioner, property manager, closing agent, mortgage broker, tax expert, attorney, insurance pro, and contractor. Learn about each of these specialties and ask smart questions when you interview so you know each member supports your goals.
  
• Consider commercial investments. Most investors focus only on residential real estate and overlook the many great advantages of commercial properties, which typically offer more stable rental income and less of a property management burden. Also, commercial tenants tend to pay for property taxes, insurance, and interior maintenance.