The Perfect Investment by Paul Moore has some salient points. The book discusses four barriers to a person investing in commercial multifamily property, namely 1) Lack of cash requirements 2) Inability to qualify for a loan 3) Being on the outer loop of commercial brokers and 4) Lack of opportunity to start small. (By nature, commercial investors must “Go big or go home.”) However, there are solutions which are explained in the book.
The biographical snippets of how the author himself got started in the perfect investment are a heart-warming feature. For instance, he writes: “I was 50. I was eager to find something stable and profitable . . . Something I could teach my children.”
This book is a good start for anyone interested in investing in commercial multifamily properties, but it is not comprehensive. There are several specific links for finding more information. However, the reader will need to consult other publications and additional information to get a wider view of this topic.
Other salient points include knowing the difference between hiring a CPA and hiring a tax strategist, knowing which nine key people should be a part of your investment team, and distinguishing a high-risk, high potential return project vs a high-risk, high return project. The author also defines and explains each ingredient of the recipe for The Perfect Investment.
My favorite quote is a quote in the book: “’Wealth gained hastily will dwindle, but whoever gathers little by little will increase it.’
Solomon – Proverbs 13:11″
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