12/27/2009

Review of The BEST Damn Commercial Real Estate Investing Book Ever Written! (Hardcover)

This is my second posting as the first somehow 'magically' disappeared.I have even been in touch w/ the author as a gesture of good faith from someone working in the commercial real estate industry for years.She is now pushing her seminars and offered a discount on now-cancelled classes but declined to approach any practical lending discussions.She trashes several brokers in the book, provides little if any realistic advice nor categorizations of the types of financings, particularly insurance and pension fund lenders which are the most solid in the business.It may be she is collecting monies for investments in properties without a license to do so as solid lenders require 20-30% down sourcing and seasoning the down payments. (Gee, how did we get into a lending crisis for residential ~ sorry but that doesn't play w/ commercial but don't get me started...)

Spend your time elsewhere.The book covers deals that were not completed.It is almost entirely based on two or three transactions which were completed during the height of the R.E. Boom.Neither can one find her supposed television show.It further turns out her condo project is not yet completed though she treats it as a huge success in this book.(No condo financing is happening right now and has turned back to apartment/multi-family).

If you are an absolute novice, youmay learn something in this self-published, agrandizing book.Otherwise, move on and search for the Robert A. Morse guide to commercial real estate investments (quicker read) or practically ANY other book on commercial investing.In all my years of commercial real estate I've never bumped into anyone who has made legitimate money starting from an 'expert' seminar.Stay away from those attempting to parlay a new speaking career particularly similar to this author who has little practical experience!



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