The Complete Guide to Buying and Selling Apartments

The Complete Guide to Buying and Selling Apartment Buildings, 2nd Edition
Steve Berges
Paperback - John Wiley & Sons
328 Pages

December 2004

List Price $32.95; Our Price $24.71; You Save $8.24 (25%)




A complete guide to taking the leap from single family homes to apartment buildings of all sizes. While there is no shortage of books on how to invest in small, single family houses, there are virtually none devoted to larger properties. This book bridges that gap in information by showing investors how to get started buying and selling apartment buildings.

The Complete Guide to Buying and Selling Apartment Buildings was written for real estate investors who would like to take the leap from single family dwellings to apartment buildings. Author Steve Berges helps readers ease into the transition by describing in detail the process of gradually growing from smaller-sized buildings, such as duplexes and fourplexes, to midsized buildings, all the way up to 100+ unit apartment complexes. Using many real-world examples, Berges tells you everything you need to know to identify opportunities, assess property values using proprietary modeling methodologies, seek out and obtain financing, negotiate purchases, and close deals. He also discusses specific exit strategies that every investor should consider before entering into a purchase agreement.

Topics include

  • Ten ways to create value

  • Two crucial techniques every investor must know (Berges personally saved $345,000 by applying them!)

  • Six ways to locate multifamily properties

  • The single most important rule you must know to protect yourself from overpaying

  • Four key ratios every investor should know

  • The one minute assessment in three easy steps

  • How to tell a diamond from a lump of coal

  • An in depth look at financial statements

  • Three ways to determine value - how much is that property really worth?

  • Advanced financial modeling

  • Five cardinal rules to successful negotiations

  • Six reasons sellers sell their property

  • Financing alternatives - pros and cons of each

  • Four effective exit strategies

  • Five keys to your success

Whether you're a novice investor just getting started, or a professional with years of experience, you're certain to gain valuable knowledge which will benefit you in evaluating, acquiring, and divesting your multifamily properties!  This book is the Bible of apartment investing!

Real estate investor D. Mahoney says, The Complete Guide to Buying and Selling Apartment Buildings provides an innovative approach to accumulating wealth by creating value in various types of investment properties.  The author's background in real estate, finance and marketing, and commercial mortgage services culminate together to provide the reader with a high level of expertise.  This book belongs in every real estate investor's collection.  It is definitely a must read!"

Steve Berges's real estate experience dates back to 1978 when he first obtained his real estate broker's license in the state of North Carolina.  He is currently an active investor specializing in creating value through various real estate mechanisms including single family houses, multifamily apartment complexes, and the development and construction of single family housing communities.  Berges holds a M.B.A. degree in finance and marketing from Rice University.

Read what other real estate investors are saying about The Complete Guide to Buying and Selling Apartment Buildings.

Customer Reviews

5 Stars - A Must Read Book - I HIGHLY Recommend!

Reviewer:  Laurie from Bozeman, MT United States

I can't tell you what a great book this is. I started reading it one day and couldn't put it down. It is an easy to read, information packed book for anyone who wants to invest in apartment buildings. He tells you exactly how to value the property and exactly what to look for when purchasing a building. I just sent a copy to my brother so he can enjoy it too!

5 Stars - Better than basic

Reviewer:  A reader from New York, NY - Commercial Broker

Outside of a financial textbook this is one of the better fundamentals books I have read. Stresses value play - in-out - approach, but the key financial ratios and it's points are very astute. If you are looking to get into the business this is a great introduction and, I would say, a must read.

5 Stars - Excellent!

Reviewer:  A reader from Los Angeles, CA  United States

Informative, succinct, ideal for both the novice investor and the more intermediate and seasoned investors who wish to reinforce these vital principles. I've read numerous real estate investment books and I must say this is one of the best ones out there!

5 Stars - The best book on real estate investing I have read so far...

Reviewer:  johnhank

I just received Steve's book and let me just say that I was totally blown away by the amount of info in this one book. It is clear that Steve is an expert on real estate investing- he doesn't give you any b.s info on the no money down approach but he offers a very sensible and intelligent approach to purchasing buildings. In no way am I an expert on the subject of real estate investing but I have read at least 10 books so far on this subject. By far, Steve comes across as the most experienced and seasoned real estate investor. If you are looking to invest in buildings, then look no further. Just buy this book...its all you need. Believe me, its that good.

5 Stars - Substantive and Well Written!

Reviewer:  A reader

This is a well written, articulate book. It does not promise fabulous riches or creative, bizarre financing to get rich quick with no money down. Instead, it offers systems of evaluation and analysis for investors in a real-life market.

5 Stars - Realistic Approach to Real Estate

Reviewer:  GMcDonald from New York, NY USA

This is a terrific book for someone interested in approaching real estate investment in a serious way -- using analysis and sound business principles. But if you are only interested in the "no money down" & "get rich quick" schools of thought, pass on this book.

Table of Contents

Chapter 1. Introduction to Multifamily Ownership.

Chapter 2. Advantages of Multifamily Ownership.

Chapter 3. Bridging the Gap.

Chapter 4. The Value Play Strategy.

Chapter 5. Establishing Your Niche and Locating Properties.

Chapter 6. Six Ways to Locate Properties.

Chapter 7. Financial Analysis.

Chapter 8. Case Study Analysis.

Chapter 9. Negotiation Strategies and the Due Diligence Process.

Chapter 10. Financing Your Acquisition.

Chapter 11. Closing the Deal.

Chapter 12. Managing Your Property.

Chapter 13. Four Effective Exit Strategies.

Chapter 14. Six keys to Your Success.

The Complete Guide to Buying and Selling Apartments
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