Crushing It in Apartments and Commercial Real Estate: How a Small Investor Can Make It Big

Murray, founder of an upstate–New York real-estate-investment company, begins with a disclaimer that he accepts no responsibility for the information he presents. His advice, however, is generally sound as he sets out a clear, detailed traditional approach to acquiring and managing small apartment buildings and commercial properties. It’s not a get-rich-quick scheme. Rather, the book details a careful buy-and-hold strategy that relies on adding value to properties and reinvesting positive cash flow. Information about analyzing properties, working with lenders, managing difficult tenants, and growing in scale is well presented. Examples from Murray’s experience are used throughout; an extended case study about one property in Murray’s portfolio, a trouble-plagued but ultimately successful apartment building, nicely illustrates his approach. Less useful are two borderline-generic chapters about maintaining work-life balance and continuing one’s financial education. There are also several glaring omissions. Murray offers little about legal or regulatory matters and nothing about selling properties or surviving a market downturn. Nonetheless, readers seeking a practical guidebook to buying and holding commercial property will find Murray’s book a strong choice in a crowded category. [em](BookLife) [/em]