The Book's premise is that there are:
NO GOOD OR BAD MARKETS ONLY GOOD OR BAD DEALS
In fact the writer has seen the absolute worst deals done in good markets! Conversely the best deals were made in the 'so called' worst markets.
You've all heard 'Location, location, location,' ad nauseum. Everybody's answer to real estate investment. Yet, it's a myth. This book dispels that and a dozen other myths. It is not the 'Location, location' cry we should remember, but rather learn to understand that acting on 'timing' and 'trend' has made and will continue to make the real fortunes.
LOCATION, LOCATION, LOCATION
This book explains how you make the 'most money on the day you buy,' not some mystical 'wait forever.' It also hits hard on the myth of 'good limited partnerships' (there are very, very few) the myth of 'good strata hotel investment' (they are very, very few), the myth of 'good timeshare investment' (it ain't real estate), the myth of 'good buys on Native Land' (there are very, very few) as well as dispels the myth that baby boomers will not buy big houses (they still all have their kids living with them).
The book also analyzes all the new trends; buying 'out-of-town' (how to identify which town to buy in), making money with timber and gravel, the condo trend ('it's all in the minutes') and makes it clear to the reader on where the winners and losers will be in the future.
The chapter on technology shows the new trends that the Internet will force on owners and Realtors alike. The book covers recommended buys, what NOT to buy, buying without down payment, getting the best mortgages and a the importance of your own real estate investment plan. It also explains the differences of REITs versus partnerships. The book explains how to buy a foreclosure, how to buy at an auction, how to protect yourself
big and small investor alike.
The chapter on "Scams and Shams" safeguards you. Best of all the book is written with humor and by someone who managed the largest real estate company in Canada, purchased dozens of properties for his own use and continues to be an active particpant in the real estate investment scene.
The Author was recently featured in Peter C. Newman's newest "Establishment book" "Titans" and is well known in Canadian Real Estate Circles.
In the eighties you could have bought any real estate anywhere. If you paid too much for it well, you just bought it too soon. Inflation bailed you out the 2000s won't be this forgiving. Real estate products will go up AND down at the same time in the same marketplace. This book tells you to identify which will and which will not.