Robert J Bruss, a brilliant writer for Inman News has released his top 10 best Real Estate books for 2005. Below is his an excerpt from his article:

1.) "Reverse Mortgages for Dummies," by Sarah Glendon Lyons and John E. Lucas (Wiley Publishing, Inc., Hoboken, NJ), $16.99, 249 pages. This is the best of several excellent 2005 books about the pros and cons of tax-free reverse mortgage income for senior citizen homeowners 62 or older. Especially valuable are the details about the three major reverse mortgage types, the advantages of each, their costs, and when obtaining a reverse mortgage is not a smart decision.
2.) "Building Wealth One House at a Time," by John W. Schaub (McGraw-Hill, New York), $18.95, 225 pages. Written by a very successful 32-year investor in single-family rental houses, this book reveals why investing in local houses is the safest long-term realty investment. The author explains how he buys without obtaining bank mortgages and how to select profitable houses that will attract quality tenants.
3.) "Start Small, Profit Big in Real Estate," by Jay P. DeCima (McGraw-Hill, New York), $19.95, 216 pages. The theme of this book is investing in run-down residential groups of rentals, such as five units, which are a management headache for the seller. The author recommends buying properties with fix-up profit potential that most lenders won't finance, thereby forcing the sellers to carry back mortgages on very attractive terms.
4.) "Trump Strategies for Real Estate: Billionaire Lessons for the Small Investor," by George H. Ross (John Wiley and Sons, Hoboken, NJ), $24.95, 221 pages. The author has been a successful New York real estate attorney, representing famous investors such as Harry Helmsley, Sam LeFrak, Bill Zeckendorf, and for the last 25 years, Donald Trump. The book is mostly about how Trump became wealthy thanks to his real estate strategies, but the author also shares first-hand insider stories and how he came to realize every problem has a price tag for its solution. This superb book should be required reading for every serious real estate investor.
5.) "Real Estate Dealmaking," by George F. Donohue (Dearborn-Kaplan Publishing Co., Chicago), $19.95, 177 pages. Written by the president of the nation's oldest real estate company (established 1866), this unique book explains winning real estate negotiation strategies for dealing with buyers, sellers, contractors, property managers, lawyers, and brokers. In this book, which cannot be recommended too highly, the author includes personal examples from his many years of worldwide real estate negotiations. He even shares a few of his negotiation mistakes.
6.) "What No One Ever Tells You About Investing in Real Estate," by Robert J. Hill II, Esq. (Dearborn-Kaplan Publishing Co., Chicago), $18.95, 200 pages. This is the most unusual real estate book of 2005 because it is a collection of 112 mini-chapters about real estate investor personal experiences and the valuable lessons to be learned from them. Many of these true stores will make you laugh. Others will make you cry. Compiled by a Nashville real estate attorney and investor, these real-life stories show investor mistakes to avoid and how to take advantage of profit opportunities.
7.) "The Pre-Foreclosure Property Investor's Kit," by Thomas J. Lucier (John Wiley and Sons, Hoboken, NJ), $19.95, 249 pages. This ultra-complete book reveals virtually everything necessary to profitably acquire foreclosure distress properties without making costly mistakes. The author includes the forms he uses when acquiring foreclosures, along with details of how he uses the Internet to locate distressed owners, find property records, search state foreclosure statutes and timetables, plus many other valuable websites, mostly free. Especially valuable, the author shares many personal experiences in this "how to buy foreclosures" book.
8.) "Profit by Investing in Real Estate Tax Liens," by Larry B. Loftis, Esq. (Dearborn-Kaplan Publishing Co., Chicago), $19.95, 235 pages. For those who are interested in real estate profits but don't want to actually own property, which requires management, this detailed book reveals how to profit by investing in tax liens, just as major banks do, with safety and risk avoidance. The author not only explains the procedures in every state offering tax lien sales, but he shares many personal experiences of his bidding for these high-yield safe investments.
9.) "What No One Ever Tells You About Renovating Your Home," by Alan J. Heavens (Dearborn-Kaplan Publishing Co., Chicago), $18.95, 208 pages. In a likeable, self-deprecating way, the author shares his many personal home renovation experiences, as well as those of homeowners he interviewed. Emphasis is placed on when it's best to hire professional contractors, and when to do the work yourself. "Never spend money if it won't boost your property value," is the book's theme.
10.) "Every Landlord's Tax Deduction Guide," by Stephen Fishman, Esq. (Nolo Press, Berkeley, CA), $34.99, 250 pages. This unusual book makes tax tactics actually interesting, whether you are a novice or a serious full-time investor. The author uses many lively examples and charts to make potentially boring topics understandable and interesting. The book heavily emphasizes maximizing depreciation deductions.

Honorable mentions.

This story appeared on Page T22 of The Standard-Times on December 17, 2005.