REAL ESTATE CONSUMER NOTEBOOK
THE 10 BEST REAL ESTATE
BOOKS OF 2003

Each week I read at least one new real estate book. The year 2003 produced an abundance of superb real estate books (and a few duds).

Today, the 10 best real estate books of 2003 are honored. All are available in stock or by special order at local bookstores, public libraries, and www.amazon.com. Here are the best real estate books of 2003:

INVESTING IN FIXER-UPPERS by Jay P. DeCima (McGraw-Hill, New York), $18.95 293 pages.   This book tells the author's story of how he quit his secure telephone company job, became his own boss, and began with limited savings acquiring run-down fixer-upper small residential investment properties. Throughout the book, DeCima shares the stories how he acquired over 200 fix-up rentals from motivated sellers by using low and no down payments, eventually acquiring a real estate fortune. HOW TO LIST AND SELL REAL ESTATE By Danielle Kennedy (Thomson-Southwestern Publishing Co., Mason, OH), $34.95 507 pages.   Written by a very successful long-time realty agent and trainer for beginner and experienced "old pro" real estate sales agents, this book explains the basics of how to become a top producing agent. Kennedy began as a desperate, very pregnant agent knocking on neighborhood doors for listings, and evolved into a super-success office manager and sales trainer. THE CONSUMER ADVOCATE'S GUIDE TO HOME INSPECTION By Barry Stone (Dearborn-Kaplan Trade Publishing Co., Chicago), $17.95 218 pages.   The author, a professional home inspector, shares his often humorous examples of why home buyers, sellers, and realty agents should insist on a professional inspection for every home sale. In addition to his explanations of important inspection topics, Stone uses questions and answers from his syndicated newspaper column to explain what to expect from a superb home inspector. YOUR SUCCESSFUL REAL ESTATE CAREER, FOURTH EDITION By Kenneth W. Edwards (AMACOM-American Management Association, New York) $18.95, 200 pages.   Written by a long-time realty broker and college real estate instructor, this book explains what new real estate agents should do to become successful. It also emphasizes alternatives, other than selling real estate, which agents might consider after they obtain their sales licenses. "Your success will be determined by how well you solve problems. Solve a lot of problems and you will make a lot of money," the author advises. BUY IT, FIX IT, SELL IT, PROFIT!, SECOND EDITION By Kevin C. Myers (Dearborn-Kaplan Publishing Co., Chicago) $19.95, 269 pages   If you can't profit at least $10,000 from each run-down house you acquire, the author says you are wasting your time. Myers, a real estate appraiser who has been investing in fix-up properties over 25 years, explains how to find profitable fixer-uppers. He places heavy emphasis on low-cash finance methods. MAKING BIG MONEY INVESTING IN FORECLOSURES WITHOUT CASH OR CREDIT By Peter Conti and David Finkel (Dearborn-Kaplan Publishing Co., Chicago), $18.95 267 pages.   If you are looking for foreclosure properties as your first home, or for investment, this book is a great place to start because it explains the how to acquire foreclosure procedures. The authors emphasize the importance of specialized foreclosure knowledge and how to buy from motivated sellers. THE WEEKEND MILLIONAIRE'S SECRETS TO INVESTING IN REAL ESTATE By Mike Summey and Roger Dawson (McGraw-Hill, New York), $14.95   The theme of this book, aimed at beginner realty investors, is get rich slowly. This buy and hold book, uses many examples to illustrate its topics. Special emphasis is placed on negotiation techniques because of co-author Dawson's negotiation expertise. Unless the property under consideration for purchase produces a break-even or positive cash flow, the authors suggest purchase avoidance, even if local properties are appreciating rapidly in value. SECRETS OF BUYING AND SELLING REAL ESTATE WITHOUT USING YOUR OWN MONEY By Robert Shemin (John Wiley and Sons, New York), $19.95 260 pages.   This "nothing down" book emphasizes why home buyers and investors, even if they have lots of cash available, should buy for low or no down payments. "Do not use your own money. Create money from other sources to get into real estate," the author advises. Shemin also suggests using lease-options to control properties, and focusing on buying from motivated sellers who don't demand top dollar. GOLDMINING IN FORECLOSURE PROPERTIES, FIFTH EDITION By George Achenbach (John Wiley and Sons, New York), $27.95, 231 pages   The latest edition of this perennial best selling book is filled with lots of "how to" advice, examples from the author's experiences over 30 years acquiring foreclosures, and even sample forms, worksheets and checklists. Achenbach explains how the foreclosure process works, when is the best time to buy, and how to maximize profits. THE REAL ESTATE INVESTOR'S TAX GUIDE, FOURTH EDITION By Vernon Hoven CPA (Dearborn Real Estate Education Co., Chicago), $32.00 332 pages.   Homeowners and real estate investors will profit by studying this detailed and authoritative book. Although it can be tedious and detailed reading, the examples are concise and filled with realistic situations, plus citations to tax cases. This is the most up-to-date and complete real estate tax book currently available.

WHAT EVERY HOMEOWNER NEEDS TO KNOW ABOUT MOLD By Vicki Lankarge (McGraw-Hill, New York), $12.95 134 pages.   This concise book explains how mold became such an important topic during the last few years for homeowners, realty agents, and prospective home buyers. The author has researched her topic extremely well, emphasizing the importance of abolishing moisture within the home to eliminate the source of toxic mold. 106 MORTGAGE SECRETS ALL HOMEBUYERS MUST LEARN BUT LENDERS DON'T TELL By Gary W. Eldred (John Wiley and Sons, New York), $16.95 268 pages   This unique "how to get a home mortgage" book is filled with many examples of how to have a successful mortgage transaction without getting ripped-off by the lender. The author's sense of humor, although the topic is very serious, comes through in many situations. For example, he begins one chapter with a hypothetical phone conversation with a loan officer at the Robublind Mortgage Company. Then he proceeds to explain the "yield-spread premium" rip-off of which most borrowers are completely ignorant. EVERY TENANT'S LEGAL GUIDE, THIRD EDITION By attorney Janet Portman and Marcia Stewart (Nolo Press, Berkeley, CA), $29.99 450 pages.   Whether you rent an apartment or a house, or plan to do so, this ultra-complete book anticipates your questions before you think of them. It warns of possible pitfalls residential tenants should anticipate. Along the way, the authors of this superb book share practical advice when dealing with unscrupulous landlords. WEALTH PROTECTION SECRETS OF A MILLIONAIRE REAL ESTATE INVESTOR By William Bronchick, Esq. (Dearborn-Kaplan Publishing Co., Chicago), $18.95 103 pages.   The emphasis in this unique book is on protecting real estate and other major assets from lawsuits and liability losses. This no-nonsense attorney suggests how to keep the investor's ownership a secret, avoid frivolous lawsuits, and make real estate assets difficult to locate. "Appear broke" is Bronchick's sage advice to realty investors. ARE YOU DUMB ENOUGH TO BE RICH? By G. William Barnett II (AMACOM-American Management Association, New York), $18.95 230 pages.   This unusual book begins with the author's hard luck story how he got fired as a partner in a Dallas investment banking firm. Then he discovered real estate where "You do not need partners, a large credit line, or a bunch of cash to become a highly successful real estate investor." The author then shows readers how they also can become wealthy with real estate. REAL ESTATE LOOP-HOLES By Diane Kennedy CPA and Garrett Sutton, Esq. (Warner Books, New York), $16.95 205 pages.   This simple book emphasizes the legal and financial side of real estate investing without getting bogged down in boring details. The emphasis is on tax "loop-holes" such as having a wife become a real estate licensed agent so her wealthy physician husband can deduct their real estate tax losses against his high taxable income. (1459 WORDS).