John T. Reed’s real estate investment blog

“The power of accurate observation is commonly called cynicism by those who have not got it.” - George Bernard Shaw“The most essential gift for a good writer is a built-in, shockproof s*** detector.”- Ernest HemingwayThis is from two articles which were published in the January 1990 and July 1998 issues of John T. Reed’s Real Estate Investor’s Monthly newsletter. I have also added additional points since 1998. Copyright by John T. Reed. All rights reserved. Readers often ask me what I think of a particular guru’s seminar or home-study course. In many cases, I don’t know the work of the...

A number of bad gurus are pushing bird dogging as a real estate investment strategy. Should you do that?No.May be illegalFor one thing, it may be illegal. When I was a real estate agent in New Jersey, paying a finder’s fee, which is another name for bird dogging, to anyone other than a licensed real estate broker was illegal. I expect some other states have similar laws.Virtually all states prohibit the unlicensed practice of real estate brokerage which is generally defined as getting paid to bring a buyer and seller together.There is also the federal Real Estate Settlement Procedures Act...

Copyright 2000 by John T. ReedI have been a real estate guru since 1976. I have met a great many of the other gurus in person or over the phone, email, etc. Generally, if I do not know a particular guru, I know another guru who does.In those 24 years, I have heard what the bad gurus say about their customers and the way they run their businesses behind the backs of those customers. Unfortunately, I cannot get many people to go on the record with many of these stories so I have to remove the name of the guru...

A visitor to this Web site suggested I create a list of my books that shows the sequence in which a real estate investor should read them. Great idea. Here it is. Investors should read my books in the following order:1. Succeeding (Tells how to succeed in life in general including making the decision whether to choose real estate, not part of the real estate bundle)2. An American Principal Residence is the Most Advantaged Investment on Earth: Maximize Yours 3. How to Get Started in Real Estate Investment4. How to Buy Real Estate for at Least 20% Below Market Value, Volume 15....

1. Are you really sure you want to do this?A real-estate-investment program will consume large amounts of your time, subject you to considerable financial risk, force you to engage in the generally unpleasant task of dealing with tenants and maybe employees and subcontractors (some approaches to real estate investing do not involve tenants, employees, or subcontractors), and saddle you with significant responsibilities. There are other ways to make a buck, you know. Is being a real estate investor just an abstract concept to you? Or do you really know what it's like to be a landlord (if you plan to...