Confessions of a Real Estate Entrepreneur: What It Takes to Win in High-Stakes Commercial Real Estate

5 Responses to “Confessions of a Real Estate Entrepreneur: What It Takes to Win in High-Stakes Commercial Real Estate”

1. regno says:

   June 25, 2010 at 8:14 AM

   I have bought and sold a number of residential properties and a few commercial in the past few years. I have a pretty good understanding but always wanted a better understanding of financing commercial properties traditionally, the development and renting of commercial space. This book is perfect with the exception that it is too short. The author gives brief accounts of his actual deals, I wish he would write 50 pages on each deal, show contracts, HUD1′s, tell how he made and evaluated the various contacts in the industry. I saw other reviews complain that the book contains a lot of the basic information – but some of it is stuff you do not read in most REI courses. If you are going to take the risks of commercial – I want the confidence that I have a strong grasp of the basics(so I did not mind it). The information is very well organized so you can skip certain sections that you feel you already have a good grasp of.
   
   Great book – a very fun read. I am online to buy the author’s prior book. I wish this book was 10X the length it is, I would read every page.
   
   Rating: 5 / 5

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2. Strati G. Vourakis says:

   June 25, 2010 at 6:19 AM

   I just received this book today and am only about 40 pages into it, but it is so great that I had to stop and post my praise.

   I own about a half-dozen various books on real estate and have looked at dozens. I’ve owned a couple investment properties and am going to get back into the game very soon.

   This is certainly the best book on real estate that I have seen or read.

   The author is a real investor who wants to share the ins and outs of the biz with other people, and he does a fantastic job.

   The author doesn’t just say something empty like, “real estate is a great investment with many tax benefits. You can do it if you put your mind to it, so get out there and get it done!” nor does he give other inspiring but utterly meaningless “advice” or information like so many books on the shelf.

   Instead, this author talks about how the real estate game actually works in real life, gives you examples which are drawn from real deals he’s done, and then (are you ready for this?) he actually explains everything in layman’s terms that anyone who graduated high school can understand!

   He is certainly not condescending, he just explains things thoroughly and clearly. While many authors make an attempt at doing this, they either can’t drop their jargon long enough to explain something or they only give a cursory explanation that still leaves you in the fog.

   I’m educated and intelligent, but the reason I’m reading books like these is to learn about things I don’t already know (obviously). With many (if not most) other real estate books, you are forced to look up many of the terms or ideas or read other real estate books in order to clarify what was said in the first one.

   That’s not necessary here, as the author explains everything to you just like a friend or mentor would.

   If you are looking for a book that will truly give you a solid foundation in the language of real estate and also give you real-world examples of how actual deals work, look no further than this book.

   If nothing else, this book is worth the price for the first chapter alone, where he gives excellent explanations of the basics of real estate such as the components of a contract, partnerships, corporations, etc.

   Good luck!
   Rating: 5 / 5

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3. Kevin Kingston says:

   June 25, 2010 at 5:06 AM

   James Randel shares great concepts that were acquired over 25 years of deal making that are well worth anyone’s time who has any interest in real estate. I’ve been on Wall St. for 11 years and doing real estate deals for 6 and must say I agree with 100% of what is in this book. He gives you the play by play on a few multi million dollar deals that have worked out well and surprisingly enough on some that have not. A few great lines:

   “Never believe your own press clippings”
   
   “Never take anything for granted”

   He lists 13 “Success Skills” and says, “I do not believe success is an accident” The 1st skill is PASSION, where he says, “A small difference in energy can sometimes be the difference between success and failure.”

   Next is “Work Ethic” I love this one, “If you’re not willing to work hard at the real estate game, do not come out of the dugout.”

   Also key for people to understand is how NOI (Net Operating Income) affects the price of a property, and how improvements in the net can boost the price of a property even if nothing else has changed.

   Interestingly he talks about South Florida where my partner and I have also had tremendous success. He’s hot on “North Beach” which is just north of South Beach in Miami. We are a bit further North in Hollywood Beach, but none the less our premise is the same as his; the wave of growth is heading north.

   By Kevin Kingston author of, A 20,000% Gain in Real Estate

   My Blog bloglines.com/blog/KevinKingston
   
   Rating: 5 / 5

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4. A. Shepard says:

   June 25, 2010 at 4:49 AM

   It would appear as though I am in the minority as the previous reviews all seem to tout this book as the go-to guide for for anyone with an interest in real estate investing. I have my doubts that Randel’s sophisticated guide to making money in the real estate business will leave any serious Investor scratching his head asking “Why didn’t I think of that?” For someone who is so internationally acclaimed I found it odd that in my 34+ years in the real estate business I have never once heard of him, but then I have never lectured at Harvard either.
   
   While I have no doubt there are a select few that may be able to glean some useful information from Randel’s book, I’m afraid the “Priceless Lessons” that the book description provides are little more than common sense. Spend the extra 2 cents and pick up a copy of Real Estate Investing for Dummies.
   Rating: 2 / 5

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5. Glenn D. Mcdonald says:

   June 25, 2010 at 3:29 AM

   I have over 100 RE books in my library and I would rank this in the top 5. It’s very different from most books you will read – how many authors admit to, and document their mistakes? I have a Master’s in RE, done some development projects and I still learned alot from this book.

   Note: It’s not a book for a pure beginner. For them I recommend one of the non-no money down books to learn the basics of LTV, cap rates, etc. Then study this book over and over.

   Doing that will save you years in your real estate education. It’s cost me over $100,000 in life “lessons” to learn what you will learn in this book.

   Thanks Mr Randel.
   Rating: 5 / 5

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