J.K.Lasser Pro Real Estate Investment Trusts: New Strategies for Portfolio Management

REITs are simply publicly traded real estate companies that are involved in owning and managing income-producing properties such as apartments, shopping centers, offices, and warehouses. In order to qualify for REIT structure, these companies have to pay out 90 percent of earnings in dividends. The author argues that REITs should take 5 to 20 percent of every investment portfolio because they offer competitive returns, reasonable volatility, and low correlation with other financial assets. In addition, they have low sensitivity to changing interest rates, act as a hedge against inflation, and offer a tax advantage to certain taxable investors. I liked the chapter on analysis and valuation of REITs where the author states that in order to analyze and value a REIT, you need a blend of conventional real estate valuation (replacement cost, comparable sales, and capitalization methods) and security analysis. I have always been interested in manufactured home communities, so I found it helpful to read a chapter on REITs that involve this property type. - Mariusz Skonieczny, author of Why Are We So Clueless about the Stock Market? Learn how to invest your money, how to pick stocks, and how to make money in the stock market

This book provided a great overview of the REIT industry. As an analyst, I found the summary data at the end of each chapter most useful. I also liked the interviews with the real estate titans, such as Sam Zell, they added a practical dimension to the "hard data" in the book. I picked-up some good practical insights from the interviews. It's a substantial but easy to read book.

This is a great guide for the sophisticated investor or financial planner looking to learn more about investing in Real Estate Investment Trusts. Mr. Imperiale outlines the history and characteristics of REITs as well as how investment portfolios can benefit from exposure to REITs. The interviews with succesful real estate investment professionals is also very insightful. This is a must read for the skilled investor considering purchasing REITs!

Richard Imperiale's book is a must read for the conservative investor considering real estate investment to substantially expand, strengthen, and increase the value of the assests in his or her current investment portfolio. . Mr. Imperiale's advice and strategies are sound for the investor seeking both short and long term investment portfolio gains.