Synopsis
"The best real estate book I have read — I recommend it to everyone, novice and veteran, in the industry." — Lucas Joseph
John McNellis learned real estate investing the hard way: deal by deal, burn by burn, over 40 years and 100+ commercial real estate projects. He wrote the practical field guide to real estate development he wished existed when he started — the book that might also talk you out of starting at all.
Now in its third edition with 34 new chapters, Making It in Real Estate has grown from insider favorite to the book readers call their "real estate Bible." This isn't a motivational pitch or a finance textbook. It's 80 chapters of unvarnished, experience-tested guidance from a developer who still remembers what it felt like to work without a net worth.
What's inside:
49 chapters on the full development lifecycle — from quitting your day job (or wisely keeping it) to real estate analysis, buying property right, managing risk, navigating city hall, working with real estate agents, hiring architects and contractors, structuring partnerships and real estate finance, chasing yield without getting burned, sell-versus-hold decisions, surviving downturns, and building lasting wealth. Every chapter drawn from real deals, real estate negotiation, and real consequences.
Failing Enthusiastically (NEW) — Seven unflinching case studies of McNellis's worst losses. Overpaying for property, over-leveraging, misplaced trust, and plain bad luck — with real numbers attached. The kind of first-degree-burn lessons most developers would never commit to paper.
Property Management (NEW) — Seven chapters on the discipline that makes or breaks a real estate investment. When to manage rental properties yourself, when to hire out, budgeting, landlord and tenant relations, and why the phrase "passive investment" is commercial real estate's biggest lie.
Collected Essays (NEW) — Ten sharp-eyed takes on real estate economics and industry forces — modular construction, California's housing market crisis, all-electric mandates, earthquake risk, and the future of residential real estate and retail. Contrarian, data-driven, and drawn from the monthly newsletter read by over 2,000 CRE professionals.
Making It in Life — Because deals are only part of the story. Chapters on keeping friends, hard-won wisdom, writing your own obituary, and a moving tribute to a lifelong colleague.
Plus a comprehensive glossary that demystifies real estate law, finance terminology, and industry jargon in plain English.
McNellis has a talent few developers possess: he can swiftly cut to the chase to explain what works, what doesn't, and why. His writing is extraordinarily insightful, full of wit, and grounded in the kind of rich experience that turns a good book into an indispensable one.
For aspiring developers weighing their first housing investment or flipping houses. For working professionals refining their real estate investment strategies. For investors and lenders who want to understand what happens on the other side of the table. And for anyone in real estate marketing, brokerage, or development who appreciates great writing about a tough, fascinating business.
"synopsis" may belong to another edition of this title.