Bests & Worsts Reviews from Amazon

This book takes basic, sometimes sketchy, information on real estate investing and packages it into a thick tome that is as unsubstantial as cotton candy. The margins consume about a quarter of the space on each page for silly little "tips" like, "Keep detailed records of each expense related to your property." Turns out they come in handy at tax time. Duh. The text is light on brass tacks and long on windy prose. And it talks down to the reader. Here's an actual "Moneysaver" tip: "Negative cash flow exists when you payments are greater than your income." Really. It goes on to suggest avoiding a loss by making sure your rents are "at least at market rate." Golly, that IS a money saving tip! If you just fell off a turnip truck. Question: If you don't know this kind of basic information, will you know what "market rate" means? No amount of cutesy fluff will change the fact that buying property and renting it to people you barely know is a gritty, scary, no-nonsense business. The would-be investor needs real info and to pretend otherwise is a disservice. At one point, the book warns about IRS penalties for not using "approved methods" for determining the depreciation cost basis of improvements (versus non-depreciable land), a longstanding mystery for me (and the IRS, too, based on the vague guidance they offer). Despite the stern warning, the book moves on without offering a single suggestion as to what might be deemed an acceptable method! The book is filled with this kind of uninformative fluff. If most of this book doesn't insult your intelligence, you should not invest in rental property (or try to dress yourself). Despite its suggestive title, this book reveals no big secrets. Pssst, here's a real secret: buy a different book on real estate investing.