Venturing into the wonderful world of condo conversions and real estate investing requires a lot of education and learning. One of the most recommended ways to acquire the information you need is to read books that have been written by those who have been through the experience and have plenty of knowledge and insight to share. If you are the entrepreneurial sort, this is not likely a new concept for you, because as you probably already know, the best way to be successful is to do what other successful people are already doing. Here are the 5 books you must read to help guide you through your condo conversion journey.
The Complete Idiot’s Guide to Commercial Real Estate Investing
by Stuart Leland Rider
This book, now in its third edition has a wealth of information for the individual who is totally new to real estate investment. It has been recently updated to include current information on commercial real estate trends. It does include several pages on condo conversion information specifically, but the bulk of the information is concerned with general details of investment. The coverage of the topic is very thorough and the book has received good reviews as a resource and learning tool.
How to Make Money in Commercial Real Estate for the Small Investor
by Nicholas Masters
Another superb resource for the novice investor, this book too covers all aspects of both commercial and residential investing. While there is very little coverage of condo conversion specifically, it does provide great information on acquiring and evaluating apartment buildings and similar complexes that are the kinds of properties most often used for converting.
Purchase, Rehab, and Reposition Commercial Investment Property
by Michael H. Zaransky
While this book has received less than wonderful reviews for its information on real estate investing in general, it does contain more specific information regarding condo conversions. There are useful samples of condo conversion purchase agreements, profit and loss statements, as well as personal examples of condo conversion experiences that include rehabs of small buildings, multifamily buildings as well as a hotel to condo conversion.
What Every Real Estate Investor Needs to Know about Cash Flow…and 36 Other Key Financial Measures
by Frank Gallinelli
This book focuses on all the financial information you need to know to be a successful real estate investor. You will find invaluable information on evaluating properties for investment and determining a property’s potential return on investment. There are plenty of forms and templates to download and use.
How to Buy and Sell Apartment Buildings
by Eugene E. Vollucci
And finally, here is a book that will be most useful in your search for just the right apartment buildings to buy for a profitable condo conversion. This book covers many general real estate investment issues as well, but focuses mainly on the best ways to acquire apartment properties and make money on the deal.