Why did I give this 4 stars? Because Part 1, "How To Analyze a Potential Real Estate Deal", was fantastic -- it gets 5 stars. However, Part 2, "37 Calculations Every Real Estate Investor Needs To Know", only gets 3 stars.

The book opens by presenting a fairly comprehensive framework for measuring real estate returns as coming from one of four mechanisms: cash flow, appreciation, loan amortization, and a tax shelter. Then it goes through and describes each of these one by one, including metrics for measuring returns with the pros and cons of each metric. It wasn't hand-wavey in any way regarding the basic math or calculations involved, which was wonderfully refreshing. It even described discount rates, discounted cash flow analysis, net present value, and the different IRR calculations extremely well. I have a much more intuitive understanding of how these calculations now, along with their pros, cons, and alternatives. However, it was quite repetitive (particularly Part 2) and not very thoroughly edited. So while it was a very quick read, only the first part was really enjoyable.

I wish that the authors would've continued Part 1 with a bit more framework around evaluating properties. For example, "We typically use the 2% and 50% rules [which weren't actually covered] for a cursory glance, then estimate potential returns using simple estimates of Maintenance, Vacancy, Utilities, and PITI, and if everything still looks good we build a Annual Property Operating Data for line-item comparison of Operating Expenses to similar properties."

Anyway, I'd still highly recommend this book to any investors who aren't familiar with all of these calculations, in particular discounted cash flow analysis and comparing properties' operating expenses by comparing each expenses percentage of GOI. Great suggestions.

best book I have read so far on how to anaylze properties as a real estate investor. This is a must read. I am glad I did not read this book first because I think I would have been to overwhelmed. Very thankful for this book and for Frank Gallinelli.

So many great methods to use in the realestate business

Few books are remarkable. This is one them!

Took a while to get into, but gives you the vocabulary needed when researching real estate deals.

I will keep this one close.

My only issue with this book is there a few sections that are out if order from the author's original manuscript. He will mention a section he says you already covered but it turns out it's a few sections later. Still a great book despite that.

Extremely informational. Many parts of this book require rereading but it’s worth it.

It’s such an incredible book! The author explain a lot of calculations and details about how to analyze real estate properties (commercial properties). Frank made it so simple and easy to read! This material is a though one and I so enjoyed reading this, Frank wrote everything in easy and fun way. I got a lot of new insights and knowledge from this incredible book! I recommend you to read this one.

This book is definitely a great reference for commonly used real estate definitions & concepts.

A great introduction to the financial fundamentals of real estate investing. There's no get rich quick here, just strategies for solid long term wealth creation.

This book was a great beginning book for real estate investing, this book will give you a solid foundation of what you need to know. It is very well written and has multiple examples for each concept, so you can start to understand the language and how everything works together. It is mostly looking at the concepts from the point of view of a buyer but this was the most impactful book I’ve read all summer.