Summary of Eric Tyson's Real Estate Investing For Dummies

By IRB Media

Get the Summary of Eric Tyson's Real Estate Investing For Dummies in 20 minutes. Please note: This is a summary & not the original book. Original book introduction: Do you want to get involved in real estate investing, but aren't quite sure where to start? This is your go-to resource for making sense of the subject. Written by industry experts Eric Tyson and Robert Griswold, this new edition of Real Estate Investing For Dummies offers timely, proven, practical, and actionable advice to overcome the challenges of the market and keep yourself one step ahead of the competition.

• Language: English
• Publisher: IRB Media
• Release date: Nov 27, 2021
• ISBN: 9781638158998

IRB Media

With IRB books, you can get the key takeaways and analysis of a book in 15 minutes. We read every chapter, identify the key takeaways and analyze them for your convenience.

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Insights on Eric Tyson and Robert S. Griswold's Real Estate Investing For Dummies 4th Edition

Contents

Insights from Chapter 1

Insights from Chapter 2

Insights from Chapter 3

Insights from Chapter 4

Insights from Chapter 5

Insights from Chapter 1

#1

Before beginning any investment, it is important to first understand the process and acquire the necessary skills. After that, you can begin to research different investment options and teams that can help you with your investments.

#2

Before investing any money in real estate, ask yourself these questions and determine if you have what it takes to succeed.

#3

One of the benefits of investing in real estate is that it allows you to benefit from the tax advantages of property ownership, such as tax-deferred compounding of value and reduced income tax bills.

#4

After paying off the mortgage on your first rental property, you can see the effect that the constant cash flow has on your wealth. Your equity in the property increases as you look at year 31 and beyond, as your expenses decrease while your cash flow increases.

#5

Despite its pitfalls, real estate investment is a good option for investors who understand the risks and are able to deal with them.

#6

The average return on investment for real estate is around 9 percent per year. It is possible to get much higher returns if you buy excellent properties in great locations and manage them well for several years.

#7

Real estate doesn't always increase in value, but it rarely decreases by large amounts. If you buy and hold for several years, you can reduce your risk substantially.

#8

Liquidation is the process of selling your investment. Liquidation events allow you to get your money out of the property, and they occur after a predetermined period of time.

#9

The vast majority of quality real estate investments require greater investments, typically in the range of tens of thousands of dollars.

#10

Rental properties can be a great source of passive income, but only if maintained and managed correctly.

#11

Tenacious and savvy real estate investors can more easily buy property in the private market at a discount since the private market is less efficient and some owners may not realize the worth of their income property or they need to sell it as soon as possible.

#12

Keeping good records and tax records is crucial for both business and real estate investments.

#13

When you sell a stock, mutual fund, or exchange-traded investment that you hold outside a retirement account, you must pay taxes on your profits. When you sell a rental property, however, you can avoid paying taxes if you reinvest the money in another property of the same type.

#14

Investing in low-income housing or certified historic buildings can grant you special tax credits.

#15

The 2017 Tax Cuts and Jobs Act includes a 20 percent pass-through business income deduction for certain small businesses that operate as pass-through entities. Real estate companies that meet the criteria are eligible for this deduction.

#16

Rental services do not include financial or investment management activities such as arranging financing, procuring property, or studying and reviewing financial statements or reports on operations.

#17

Finding and working with competent and ethical real estate agents and property managers can be time-consuming. On the other hand, if you don’t want to spend your time and resources on this, you may want to consider the less time-intensive real estate investments discussed in Chapters 3 and 4.

#18

You can expect problems and challenges when you attempt to buy a property. Purchase negotiations can be stressful and frustrating. You can also count on some problems arising when you own and manage investment property.

#19

Curiosity and an interest in real estate can help you become a good investor, but not everyone is interested in investing in real estate. If you don't already have it, you can cultivate an interest and curiosity by reading this book.

#20

The market cycles of up and down are something to be expected when investing in real estate. It is not uncommon for the values of your properties to fall as well during market downturns.

#21

Eliminate wasteful and unnecessary spending and focus on paying off your debt before investing in real estate. This will help you live below your means and achieve true happiness.

#22

Having the proper insurance protects you from financial ruin in the event of a major accident or illness. Make sure to get these policies as soon as possible.

#23

If you’re not taking advantage of your retirement accounts, you may be missing out on some terrific tax benefits. Controlling your cash flow is more beneficial than controlling your income.

#24

Asset allocation is the division of your money among various investment vehicles, such as stocks, real estate, and bonds. It is a strategy to help you decide how to distribute your money among the various investment vehicles.

#25

When you invest in real estate using the BRRRR method, you get higher returns on your money because you're leveraging it. Because you can