The Heart of the Deal: How to Invest Like a Real Estate Mogul

Lolli wisely tells his readers in his first sentence that real estate isn’t a way to get rich overnight, but rather a business with “unlimited earning potential” for those willing to work hard. Part memoir, part business primer, and part guide for salespeople, this book comprises both professional advice and personal anecdotes from Lolli’s career as a New York City real estate broker and investor. Little of what he shares is new or original, and many of his examples, particularly those that involve buying out tenants in rent-controlled apartments, may be more applicable to New York’s unique markets than elsewhere. Still, the material is suitable for beginners. Topics include the importance of referrals, the power of personality, the benefits of goal setting, and approaches to combat negativity. The book is strongest in its real-estate-specific content and when it peeks inside Lolli’s career, and weakest in its generic business advice. Perhaps the most valuable nugget Lolli offers is the warning that landlords shouldn’t rent apartments they own to their friends. Experienced real estate brokers, salespeople, and investors won’t find much they don’t already know. However, readers looking for a broad, general introduction to the real estate business will be off to a good start. (June)