Randel reveals some true confessions from investors.

In an era of unprecedented interest in real estate, no one has written a definitive book on making money with real estate. Until now.

James Randel is a nationally known real estate attorney, broker and investor. For 25 years he and his contemporaries have been "playing the real estate game." In his new book, Confessions of a Real Estate Entrepreneur (McGraw-Hill; $21.95 hardcover), Randel uses anecdotes to synthesize a unique and detailed strategy for success.

"Over the last 20 years, I have observed that whereas buying and holding is certainly a valid (fairly safe) strategy for making money with real estate, there are other, and I dare say better, ways for doing that," observes Randel.

Randel offers the strategies employed by the super successful real estate players and the techniques used by entrepreneurs who are not satisfied with a 'reasonable' return on their investment.

"The Dow Jones may go up in a year by 10% and generally equity investors are pleased with that," says Randel. "On the other hand, the real estate entrepreneurs I know would be quite disappointed with a 10% return on their equity. These people are looking for multiples many, many times a 10% return."

A no-nonsense, guide, Randel takes readers down a path of learning and immediately distinguishes himself from the get-rich-quickers by emphasizing one essential fact: real estate, as most entrepreneurial endeavors, has a risk-reward quotient to it.

"If you are looking for risk-free ways to make a ton of money in real estate, chuck this book right now," cautions Randel. "I have never seen such things. Certainly risk can be quantified and minimized but life in the real estate world is pretty simple: the greater the risk, the greater the potential reward." Randel is no fan of the real estate promoters who write books about making money in real estate with no or little cash invested. Nor of those who hold seminars claiming to make their attendees instant millionaires. Randel advises others to know that real estate investing is not some magic potion to riches. While it is a means for making a lot of money, he observes, it's no risk-free way to wealth.

"It is hard work and, there is definitely risk involved," notes Randel. "But, with information, diligence, determination and calculated risk, there is plenty of opportunity to make a lot of money."

A featured commentator on television, Randel has spoken at Harvard Business School and national conferences around the U.S, providing listeners with a road map to real estate success.

According to Randel, would-be real estate players must understand this golden rule: in order to maximize your success in real estate, you need to add value to either the process by which you acquire property and or the property itslef.

This added value approach has many disciples throughout the U.S. and, while Randel is certainly not the only real estate entrepreneur investing with these principles, he is the only one who has ever written about them.

In the book, readers get detailed advice for a dozen strategies used by super-successful entrepreneurs.

Randel concludes his book with chapters on the art o[ persuasion (ten specific techniques for getting the other party from point A to point B) and success skills--13 traits that he has observed time and again in successful real estate entrepreneurs.

Concludes Randel, "I have observed certain commonalities to successful people that are worth emulating to increase the probability of achieving successful results."