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News release for the book Best Practices for the Intelligent Real Estate Investor

For immediate release: Best Practices for the Intelligent Real Estate Investor
Alamo, CA, April 12, 2009—Best Practices for the Intelligent Real Estate Investor, by John T. Reed was released today. (226 pages, 8 1/2 x 11 paperback)
After writing 23 other books (63 counting editions) on various real estate investment skills over 29 years, John T. Reed has finally written about the subject you might have thought he would write about first: fundamentals of real estate investment. Why?
“It took me 42 years to figure out the fundamentals. Skills like property management and tax avoidance and finding bargains are much easier to write about than the whole enchilada big picture,” says Reed.
The final two pieces for the puzzle were supplied in recent years by the development of two new academic disciplines. One was behavioral finance or behavioral economics. The other was financial engineering. The former explains why property values jump up and down far more than rents and expenses. So-called “value” investors like Benjamin Graham, author of the classic book The Intelligent Investor, and traditional economists say values are determined by fundamentals and “rational man.” Behavioral economists detailed the truth. Rational men are hard to find. So you’d better figure out a way to protect yourself from irrational despair while trying to profit from irrational exuberance.
Financial engineers, notwithstanding their prominent recent mistakes, detailed ways to manage financial risks. Thus the subtitle of Best Practices for the Intelligent Real Estate Investor: “How to profit from skill and boom markets and protect yourself from down markets.”
Like all investments, real estate investment is all about risk and reward. But try to find a real estate investment book that tells you how to manage risk. Finally, there is one, perhaps a little late for mid-2000s investors, but better late than never. And probably the late 2000s had to happen first to make investors receptive to information about risk management in their previously blindly-optimistic industry.
Best Practices… identifies those aspects of real estate that you can control or forecast with skill and urges you to acquire the skills pertinent to your niche. But it also tells that good luck has been the source of most profits and tells how to put yourself in a position to profit from it. Finally, it warns that bad luck has wiped out the hard work and life savings of many an investor, especially lately, and that there are ways to protect yourself from future bad luck.
Reed is a West Point graduate and a Harvard MBA.
NEWS from: John T. Reed Publishing, 342 Bryan Drive, Alamo, CA 94507 925-820-7262
RELEASE, fax 925-820-1259