The Automatic Millionaire Homeowner, Canadian Edition: A Powerful Plan to Finish Rich in Real Estate [Hardcover]

David Bach (Author)

Product Details

• Hardcover: 256 pages
• Publisher: Doubleday Canada (January 1, 2006)
• Language: English
• ISBN-10: 0385661746
• ISBN-13: 978-0385661744
• Product Dimensions: 8.3 x 5.6 x 1 inches
• Shipping Weight: 14.4 ounces
• Average Customer Review: 3.6 out of 5 stars  See all reviews (51 customer reviews)

More About the Author

David Bach has helped millions of people around the world take action to live and finish rich. He is one of the most popular and prolific financial authors of our time with nine consecutive national bestsellers, including two consecutive #1 New York Times bestsellers, Start Late, Finish Rich and The Automatic Millionaire as well as the national and international bestsellers Fight for Your Money, Go Green, Live Rich, The Automatic Millionaire Homeowner, Smart Women Finish Rich, Smart Couples Finish Rich, The Finish Rich Workbook and The Automatic Millionaire Workbook. Bach carries the unique distinction of having had four of his books appear simultaneously on the Wall Street Journal, BusinessWeek, and USA Today bestseller lists. In addition, four of Bach's books were named to USA Today's Best Sellers of the Year list for 2004. In all, his FinishRich Books have been published in more than 15 languages, with more than seven million copies in print worldwide.

Bach's breakout book The Automatic Millionaire was the #1 Business book of 2004, according to Business Week. It spent fourteen weeks on the New York Times bestseller list and was simultaneously number one on the bestseller lists of the New York Times, Business Week, USA Today, and The Wall Street Journal. With over a million copies in print, this simple powerful book has been translated into 12 languages and has inspired thousands around the world to save money automatically.

Bach's newest book, Start Over Finish Rich launches in December 2009. With its ten crucial moves you must make in 2010, Start Over Finish Rich provides the essential tools for readers to get back on track financially and recapture their dreams of a richer future.


Bach is regularly featured in the media. He has appeared six times on The Oprah Winfrey Show to share his strategies for living and finishing rich along with regular appearances on NBC's Today and Weekend Today shows, CNN's Larry King Live, ABC's Live with Regis and Kelly, The View, CBS's Early Show, ABC News, Fox News, and CNBC. He has been profiled in many major publications, including The New York Times, BusinessWeek, USA Today, People, Reader's Digest, Time, Financial Times, the Washington Post, The Wall Street Journal, Los Angeles Times, San Francisco Chronicle, Working Woman, Glamour, Family Circle, and Redbook. He has been a contributor to Redbook Magazine, Smart Money Magazine, Yahoo Finance and AOL Money. In 2009 Bach, was a regular on the Today Show Money 911 Segments and a contributor to ABC's Good Money.

David Bach is the creator of the FinishRich® Seminar series, which highlights his quick and easy-to-follow financial strategies. In just the last few years, more than half a million people have learned how to take financial action to live a life in line with their values by attending his Smart Women Finish Rich®, Smart Couples Finish Rich® , and Find The Money Seminars, which have been taught in more than 2,000 cities throughout North America by thousands of financial advisors.

A renowned motivational and financial speaker, Bach regularly presents seminars for and delivers keynote addresses to the world's leading financial service firms, Fortune 500 companies, universities, and national conferences. He is the founder and Chairman of FinishRich Media, a company dedicated to revolutionizing the way people learn about money. Prior to founding FinishRich Media, he was a senior vice president of Morgan Stanley and a partner of The Bach Group, which during his tenure (1993 to 2001) managed more than half a billion dollars for individual investors.

As part of his mission, David Bach is involved with many worthwhile causes including serving on the board for Habitat for Humanity New York and co-founding Makers of Memories, a charity organization dedicated to helping women and children who are victims of domestic violence.

David Bach lives in New York. Please visit his web site at http://www.finishrich.com

Customer Reviews

Most Helpful Customer Reviews

217 of 234 people found the following review helpful:

1.0 out of 5 stars Be Extremely Cautious., March 17, 2006

By 

Mr. Lu. (Denver) - See all my reviews

This review is from: The Automatic Millionaire Homeowner: A Powerful Plan to Finish Rich in Real Estate (Hardcover)

David Bach came to fame as another of Oprah's protégées. He is another self-appointed financial guru that caters all those millions of Americans that haven't figured out yet that is better to save than to get the balance of your credits cards thru the roof.

He publishes about one book a year with different title and cover but same content, just know that if you have read "The Automatic Millionaire" or others there is no need for you to buy this book, there is nothing new here.

All things being fair he has offered in the past good and common sense financial advice, all that ends here with "The Automatic Millionaire Homeowner". The advice is bias; we know that Bach is now readily accepting endorsements from banks and financial institutions of the likes of Wells Fargo. This is also one book centered on the "glamour" of real state. Just makes it look so easy; but reality is that not everybody is prepared to invest on real state, the risks are tremendous and of course this book does not cover them deep enough.

It also states that owning is cheaper than renting, which it's true in most cases, but then again, check your financial situation before jumping to ownership and make sure you can handle it. By owning your expenses will increase and possibly double, apart from down payment and mortgage payments, you will have to pay insurance, taxes, trash removal, sewer, water, maintenance, utilities (if you move from a condo to a house this bill may be up to ten times higher than it used to be), and the list goes on, so understand what you are getting into and make sure your monthly cash flow can handle it.

The most concerning part of the book is the one devoted to the different types of mortgages. It advocates very risky choices like interest only loans, no down payment options with not enough emphasis on the risks involved. Again educate yourself before being lured into any of these very risky propositions. Remember that the rate of foreclosures is skyrocketing in this country and one of the main reasons is the amount of people that find out that can no longer make their monthly payments because they picked one of those mortgages and suddenly the monthly payment is much higher than it used to be.

Do not allow that to happen to you, for sure you will find somebody to give you a loan regardless of your financial or credit situation; take the time to understand what you are getting into, or there will be no financial guru out there that will save you of the consequences.

Summarizing, skip this one, if you want fair and no bias advise pick any of Bach other books and keep it simple, make a plan, save and one day, sooner than you think you will be able to get a house and call it your own without jeopardizing your future and your family's.

57 of 58 people found the following review helpful:

3.0 out of 5 stars Rehash and Hackneyed, March 26, 2006

By 

James H. McDuffie (Huntsville, Alabama United States) - See all my reviews
(REAL NAME)   

This review is from: The Automatic Millionaire Homeowner: A Powerful Plan to Finish Rich in Real Estate (Hardcover)

The best in the series was the first book. He was careful in detail, respectful to the reader, and not sold out. There is a lot of decent advice in this book and he does not commit some of the sins he has been accused of by other reviewers. But, the book is not particularly timely (this is the kind of book that potential homeowners needed to see circa 2000) and it does seem to cater to the mortgage industry although with careful selection this may not be bad for most people. Despite the claims of several reviewers, the stories that drove the other books are also here in this book. I don't believe it is the complete rehash of the older books some others claim, but today it is hard to determine the market for this book. Most people that have enough money to buy a house are doing so or have done so, and many of those left are the nonqualifying mortagages and no-down-payment types. To write a book supporting those activities may not be a particularly consumer friendly thing to do in these times. Also, the rental and flipping advice seems trivial and flip. Plenty of people have been "gotten" in both activities. Real estate does not go up everywhere. Nevertheless, this book does contain, on the whole, some pretty good advice for the first time homeowner and the author does mostly recommend 30 and 15 year mortgages.

29 of 33 people found the following review helpful:

1.0 out of 5 stars Buyer Beware, March 18, 2006

By 

A Writer (NYC) - See all my reviews

This review is from: The Automatic Millionaire Homeowner: A Powerful Plan to Finish Rich in Real Estate (Hardcover)

Bach keeps taking the same information and recycling it with new titles. You just need one of his books and you will have enough information. 'Smart Women Finish Rich' or 'automatic millionaire' is enough.

Second, he encourages people to buy now and does not emphasize the risks strong enough. He encourages risky mortgage options to people with little financial experience which could get a lot of peopel in hot water if they are not careful.

third, he is buying into the real estate boom just like everyone else. This was the right time to write this book and make money so keep that in mind.

Four, he is really pushing that everyone buys a home NOW. this is very, very bad advice. He even encourages people with no down payment to look into risky options like piggyback loans without thoroughly going over the risks. not everyone should buy NOW and real estate CAN lose value. investments go in cycles just like anything else. People in California were in a real estate RECESSION for ten years. so these gurus who tell you real estate will never drop are full of it. You need to have enough money and you need to get a mortgage you can afford regardless of what the bank will give you. Buying now is NOT right for everyone, especiially if you plan to live in your house less than 5 years, you might be forced to sell as the market is sliding, and then you'll have all those people from the foreclosure seminars circling around you.

Be careful. There are much better books on the market about real estate that very throughouly tell you all the risks.

Remember how everyone had to buy stocks during the dot-com boom and look what happened. the market is still down from its peak in 2000. Again, buyer beware.