The third edition of Getting Started in Real Estate Investing opens with the question and Chapter 1 title, Should You Be a Real Estate Investor? The question is an important one, given the current state of the economy and real estate industry. Author Michael Thomsett begins the revision by cautioning readers that real estate is not always alluring. Markets go through cycles, and the down-phase of the cycle from 2006 onward has been one of the longest and scariest in history. Other updates include finding ways to finance your real estate investment, considering the status of mortgage financing today, and a laundry list of new requirements that may be thrown at borrowers. A new chapter will be added to help analyze an investors financial ability to buy and hold real estate. Thomsett provides a checklist for readers that include: 1. Can you afford this investment?; 2. Are you prepared for risk associated with vacancies?; and 3. Do you have the financial ability to deal with negative cash flow, if it occurs?
