Newbie Seeking Book(s)
OK, I hope there is a Benjamin Grahm(stock market) type author out there for real estate. I hope this is the proper forum, if not, all appologies
I am seeking a book.
INFO:
I plan on buying properties for the long haul.
The book should have examples on proper book keeping.
The book should visit concepts that discuss what a fair price for a property is and why.
I hope to be a valuable part of this fiorum into the future. Buying my first property soon as I juut started looking and I am totally serious about doing so. I think the one I found is over-priced(asking price) by about 15-20% though. Still doing my HW and am eager to learn.
Actually a quick addition. I don't plan on using software till I have 3+ properties. I really want the book to discuss proper book keeping as I want to do it by hand to force myself to learn.
Also, if taxes are discussed, that would be a big plus.
Hopefully, the book will discuss what can be used as expenses also. Like, the purchase of a new lawn mower. What if you have to drive 30 miles round trip to fix something or just do an inspectin for some reason or to show the place to tennant,etc.
Thanks again.
Karl
Karl,
Sounds like you are looking for some straight business books. However, there is another thread regarding books that might help.
http://www.thecreativeinvestor.com/modules.php?op=modload&name=Forum&file=viewtopic&topic=16473&forum=33
Best,
Ryno
enough said
That thread is HUGE. I have to start using that search function I think.
Thanks again,
karl
Quote:
On 2003-12-17 16:40, Ryno-n-AZ wrote:
Karl,
Sounds like you are looking for some straight business books. However, there is another thread regarding books that might help.
http://www.thecreativeinvestor.com/modules.php?op=modload&name=Forum&file=viewtopic&topic=16473&forum=33
Best,
Ryno
Hey,
Just a quick point/thought.
Not using software until your third house, does NOT make sense. Buying "canned" accounting software before your twentieth does not make sense either.
The answer is to learn proper accounting techniques and build a bunch of spreadsheets. Cheap, quick and easy to change.
Actually, by hand probably will be using Excel. IMHO: typing the formulas by hand makes you learn the underlying echanisms. A program, to an extent, makes one ignorant.
Thanksforthe tip!
Quote:
On 2003-12-18 04:05, Bruce wrote:
Hey,
Just a quick point/thought.
Not using software until your third house, does NOT make sense. Buying "canned" accounting software before your twentieth does not make sense either.
The answer is to learn proper accounting techniques and build a bunch of spreadsheets. Cheap, quick and easy to change.
Hey,
I am always amazed at the people who plunk down $500 on some accounting software package, instead of learning some basic information and building their own.
Good luck to you. You are starting on the right foot!!!