Hitting the Books Can Pay Off for Home Buyers : Reading: Whether for the first-time buyer or more experienced ones, there’s plenty of good advice between the covers of recent books.

‘A Home of Your Own,” by Sylvia Porter (Published by Avon Books, New York, 1989, 163 pages, $7.95), available in stock or by special order at local bookstores.

If you are thinking of buying your first home, or perhaps a second or third home, read this book first. It is simple and filled with many examples to illustrate the topics discussed. An evening or two of studying Sylvia Porter’s new book can be a very profitable time investment.

Many of the chapters are excerpts from the author’s monthly personal finance magazine. This means the book is filled with not only Sylvia Porter’s sage advice, but also the research of 10 contributing authors. The happy result is each chapter is written in fresh, crisp easy-reading magazine style.

Although the book is aimed at home buyers, there is much wise advice for current homeowners and even buyers of resort property. I found the final chapter on tax angles especially enlightening for both new and current home owners.

“Buying and Managing Residential Real Estate,” by Andrew James McLean (Contemporary Books, Chicago, 1989, $7.95, 160 pages), available in stock or by special order at local bookstores.

Whether you are buying your first home or want to become a real estate tycoon, don’t miss Andrew James McLean’s latest real estate book. He has been writing about real estate for many years, but this is his best book. It is aimed at both home buyers and realty investors.

McLean does an excellent job of reviewing the basics of why real estate is the best investment. He recommends houses for both owner-occupancy and for rental investments. But the author doesn’t waste the reader’s time on basics, as he quickly launches into advanced material.

The first chapter, called “Rules for Success,” is motivational for both home buyers and investors. McLean counsels home buyers to treat their purchase as investment. He favors the run-down, fixer-upper houses and explains why leverage (making the smallest possible down payment) is important to maximizing profits. But he cautions readers that real estate is a get-rich-slow, long-term investment.

“1990 Realty Bluebook I,” by Robert DeHeer (Professional Publishing Co., 122 Paul Drive, San Rafael, Calif. 94903; phone (800) 288-2006, 1989, 554 pages, $17.50), is available from local bookstores or direct from the publisher.

First published 24 years ago and updated annually since then, the Realty Bluebook continues to be the real estate salesperson’s and investor’s “bible.”

Author Robert DeHeer has carefully updated his best-selling source book to include the latest detailed information about sales techniques, realty financing, marketing and listing checklists, 130 tested contract clauses approved by real estate attorneys, income tax information for homeowners, investors and exchangers.

“Real Estate Exchange and Acquisition Techniques” (2nd Edition), by William T. Tappan Jr. (Prentice-Hall), 280 pages, $19.95. By far the most authoritative and readable book on real estate tax-deferred exchanges. Although the emphasis is on exchange techniques that work, there is more. About 25% of the book is devoted to non-exchange methods of acquiring real estate with little or no cash. This is one book that cannot be too highly recommended.

“The Prentice-Hall Real Estate Investor’s Encyclopedia,” by Frank J. Blankenship (Prentice-Hall), 539 pages, $24.95. This new reference book is really a dictionary of real estate terms, forms and practical insight. It is the kind of book real estate agents and investors should have handy when more information on a realty topic is needed. This book is not the type to be read cover to cover, but one to be considered a necessary source book.

“Landlording” (Fifth Edition), by Leigh Robinson (Express Publishing Co., El Cerrito, Calif.), 344 pages, $19.95. This is by far the most practical property management book. It is filled with useful and tested ideas to make real estate management easier for landlords. The new edition is loaded with profitable suggestions for anticipating and avoiding problems.

“How to Buy a House With No (or Little) Money Down,” by Martin M. Shenkman (John Wiley & Sons), 250 pages, $12.95. This book is filled with ideas for buying a home without having to take much money out of your pocket. It also emphasizes the tax advantages of home ownership. Starting with the basics, it advances to creative ideas for finding and financing a home. Filled with practical suggestions and solid information.