Posted by ray@lcorn on May 25, 2007 at 15:32:48:
Rob,
Thank you for the vote of confidence!
I saw your order come through earlier today and the book was shipped this afternoon. I hope it meets your expectations, but more importantly hope it helps you achieve your goals. Please know that I am always here to help should you have any questions.
Best of dealmaking,
ray
Ray’s book - Posted by Mike S
Posted by Mike S on May 23, 2007 at 12:28:51:
I want to continue growing but am unclear the best way to do so. Sell and reinvest, Refinance to reinvest or something else. I have one NNN property I purchased after getting out of Multi family properties. My down payment was 350K. I’ve added value through leasing and if I sold today at a 8 cap I will have doubled my equity to 700K in less then 2 yrs. It has a 5K positive monthly cash flow which I’m using to replenish a bank account that suffered during the leasing up period. Ray, does your book offer a roadmap for those unsure which is the best direction to take when making these decisions. Seems like some think it’s best to buy and hold forever, while others buy and resell after X amount of time/profit. As you can tell, I’m considering purchasing your book. Thank you.
Re: Ray’s book - Posted by ray@lcorn
Posted by ray@lcorn on May 24, 2007 at 14:15:00:
Mike,
Thanks for the inquiry, and congratulations on a deal that sounds well done!
I’ll offer my thoughts about how the book may help you going forward, but be warned that I’m a victim of all the bias that an author can be assumed to have for his own work!
“Roadmap” is actually a term that I have used in explaining the organization and content of the book. As I define it, a roadmap contains the needed information to get me from wherever I happen to start from to where I want to go. My intent while writing the book was to supply exactly that.
If you read through the introduction provided on the sales page (see http://www.creonline.com/catalog/b-140.html) you can see that the four modules follow a logical progression from basic to advanced, and provides the detail needed to make intelligent, informed decisions along the way.
Module 1 starts with the basics of organizing your financial affairs and getting prepared for the work to come.
Module 2 walks you through the essential questions that must be decided in forming your personal investment criteria. The topics include the available forms of management, how to research any local market to know what type of properties hold opportunity, and the details of each property type including the time required, quirks of the type and key due diligence points to consider. The module closes with a chapter for applying this knowledge by then choosing among the alternatives to form your personal investment criteria.
Let me stop here to say that in trying to make the book relevant to a wide audience I included a lot of detail so the investor can make intelligent choices based on personal resources and desires. This business can be tailored to fit almost any lifestyle and investment level, so it’s really a guide through the essential decisions to be made to tailor your criteria to your personal situation.
Module 3 gets into the nuts and bolts of finding and evaluating properties, negotiating contracts, performing due diligence, and using the knowledge gained to arrive at a final value conclusion as quickly as possible. This is universal information that applies to any property type, any management style, and any deal strategy an investor may choose to pursue.
Module 4 is the advanced portion of the material. It includes an exhaustive discussion of deal structuring techniques, as well as portfolio strategy that directly addresses your question about buy & hold vs. flip, turnaround vs. stable investments, etc. It also has information about every type of financing available and which lenders offer what. It closes with a chapter written by John Hyre, Esq., CPA with one of the best primers on real estate tax law, entity selection and asset protection I’ve read anywhere.
In sum, the book is written from my own experience over 25+ years in dealing with the same decisions you’re now contemplating. At different times over my career my priorities have changed again and again. That’s why I took the approach of delivering the information I needed along the way, at each stage of the game. Honestly it’s the guide I wish I had when I was starting out. It would have saved me a lot of expensive and time-consuming dead-ends.
From what you’ve told me I think you’re the exact type of investor I had in mind as I wrote the text. And as someone with a library full?no, packed!?with real estate books and courses, I know better than most that no text fits every situation. In case you find the book does not meet your needs there is a 60-day no-questions-asked, 100% money back guarantee.
Thanks again for asking, and best of dealmaking,
ray
p.s. there are many folks here on the newsgroup who have the book and posted comments. I would encourage you to email them privately and ask for any comments they may have. Again, I’m subject to my own bias as an author and not an objective source by any stretch of the term!
Re: Ray’s book - Posted by Rob Wilson
Posted by Rob Wilson on May 25, 2007 at 10:13:03:
I’ve been waiting to buy this book…today is the day!! Been looking forward to this for a while now…Most importantly I’m looking forward to posting my progress… Talk to you guys soon.
Rob.