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Rich Dad's Advisors®: The ABC's of Real Estate Investing: The Secrets of Finding Hidden Profits Most Investors Miss
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| Rich Dad's Advisors®: The ABC's of Real Estate Investing: The Secrets of Finding Hidden Profits Most Investors Miss |
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| Manufacturer: Business Plus |
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| List Price: $16.95 |
| Sale Price: $3.05 |
| Availibility: Usually ships in 24 hours |
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Product Description |
| In precise and entertaining chapters - each culminating with very specific 'action steps' for readers to follow - author Ken McElroy offers real estate investing stories from the trenches and wisdom. Chapters include: It Takes a Team - Understanding it takes a team to be successful in real estate, determine whether you want a partner and evaluate partner candidates based on the qualities required for a good partnership Research Can Be Fun? - Become familiar with online resources such as newspapers, trade publications, government and trade organisation websites Swamp Land For Sale - Stay away from gut feelings. Select one market, preferably one close to home, that you may be interested in. You Own It...Now What? - set up your systems for maintenance, accounting and rent collection. Get involved in local supporting professional affiliations. Enforce the policies and procedures in the lease without exception and respond quickly to your residents with a smile! |
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Customer Reviews |
 Finally a "How To" Book on Investing! |
| Review Date: January 24, 2005 |
| Reviewer: Richie Rich, Northern, NJ |
My expectations were low at first. I've heard so many people bashing GURUs on the subject of investing in RE and thought I'd hear the same advice. I couldn't have been more WRONG!
Ken McElroy, takes the time to explain all the tools you will need in order to be successful in RE investing. The thing I found most helpful is the end of the chapter To Do List. Have you ever read a chapter and moved on to the next chapter without an action plan...Not in this book!
McElroy talks about the things that made him a success as well as a recommended path for you to be successful. He doesn't cover flipping properties. When he does mention Flipping Properties, he advises against it.
I would recommend this book to the beginner and intermediate investor. For 2 reasons, this book will move you into the doing stage of your investing career with its action plan. Secondly, there is no fluff here. He gives you fact after fact. |
A must read. One of the best for true RE investors
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| Review Date: September 27, 2005 |
| Reviewer: Coach 62, Naples, FL |
I have been investing in RE for over 20 years and I have read a lot of books. This one is the best so far and I would say it is a must read.
This book is not a Carlton Sheets (et al) get rich quick balogna book. This is a book for serious RE investors.
If you want to flip properties, this book is not for you. If you want to buy and hold properties, this is by far the best book I have ever read.
The most value of this book is how to properly assess value of a property. Assessing the value of a property is probably the most difficult thing. Not only does he teach you how to do this, he teaches you how to see through the sellers inflated balance sheets and possible misleading Realtor statements.
Also of tremendous value is how to properly manage properties for maximum cashflow. I had no idea I had so much to learn in this area.
What more can I say? Just get the book. I got the audio book and I listened to it at least 4 times. |
Great addition to Real Estate Riches
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| Review Date: September 7, 2004 |
| Reviewer: Chuck Kimbriel, USA |
What I like most about the Rich Dad Advisor series is the lack of fluff and that the information is from actual experienced real estate investors like Ken McElroy. Many people who write books and/or conduct seminars have little if any in the trenches real life real estate investing experience.
What makes this program different are a number of things. McElroy shows how to calculate the right price for your property. He explains how to use comps and how to avoid the wrong properties.
McElroy goes into the mathematics of real estate investing more so than any other author.
The ABC's of Real Estate Investing mades a great addition to Real Estate Riches. In concert, these programs will help you achieve financial freedom via real estate.
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Finally a book with real numbers and details, not just fluff like the others
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| Review Date: July 27, 2006 |
| Reviewer: Michael, Paris, France |
First, I was a bit skeptical because although I really liked the Rich Dad series, I thought it was extremely light in the "how" department. Everything he said made sense, but how do I do it? Well the ABC's of Real Estate Investing will take it to the next step and tell you how.
I listened to the audio book version but I'm sure I'll buy the regular book as well because there is just so much information in this book, especially the checklists. Ok, so why is this book great? Because it's written by someone who actually did all this stuff and is successful. He uses real examples from properties he's owned in the Phoenix area. I lived in this area for 9 years, and I can say everything he said about it made a lot of sense. You don't need to be from Phoenix, I'm just saying that I think the author really knows his stuff.
ATTENTION! Here is a one thing you may or may not like (judging from other reviews): This book uses multi-family (apartment buildings) in all the examples. They cost millions. So although on one hand he makes it sound easy enough that I could do it, I'm not comfortable going after a two million dollar property for my first one! HOWEVER, I think everything he said would apply to an individual family home as well. This didn't bother me at all, and if I ever get a chance at a multi-family unit I'll have more confidence to do it.
If you listen to the audio book, the author reads it himself. Something I really enjoy. I don't like some guy reading as fast as he can, Ken McElroy reads it as if he's sitting next to you telling you face to face. While some of the phrases sound a bit corny or even fake, "Now we don't want any surprises do we?", I think it gives his reading a bit of charm.
Overall, not the only book you need but definitely one of the best I've seen. Great job Ken! Now if only the original Rich Dad series was this good! ;) |
Required Reading
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| Review Date: May 23, 2006 |
| Reviewer: Dentallica, Canada |
I recommend this book for two reasons:
1. Easy to read
2. Practical information
Ken McElroy gives step by step instructions on how to properly evaluate and make offers on multi-unit rental properties. Having read the Kiyosaki books "Rich Dad Poor Dad" and "The Prophecy", I was happy to FINALLY read some practical information. The Kiyosaki books are great motivational material but offer little substance. This entire book is not perfect, but Ken's analysis breakdown of evaluating properties and making offers is absolutely required information. Will this book enable me to make profitable acquisitions? Time will tell, however I feel confident in the process now, with Ken's detailed checklist of how to approach the business.
The only criticism I have is the lack of information about acquisition financing. Ken states that you don't need much money to get started and mentions a deal where he used purely investor money. I would like to have read some detailed information on different acquisition financing he has brokered, and how to target and close investor equity.
Overall though I would say this is a must read for anyone interested in purchasing multi-unit rental properties.
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