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

David Bach (Author)

Book Description

Publication Date: March 7, 2006

Imagine this. You buy a home, live in it, then buy another. You build your wealth through real estate—and then retire rich. It may sound too good to be true. But it’s not. It has happened, it’s happening now and it will continue to happen for millions of people over the next few decades. The question is, will it happen for you?

If you want the answer to be “yes,” then stop what you are doing and open this book. Read a few pages. Bach’s simple strategies make you rich where you sleep. All you have to do is follow his easy program to go from renter to owner, and from owner to Automatic Millionaire Homeowner. The rest is automatic!

What’s the secret to becoming a millionaire in real estate?

Since the runaway success of David Bach’s #1 New York Times bestseller The Automatic Millionaire, people all over the world have asked David the same question—is it really possible for me to get rich in real estate?

Now, in The Automatic Millionaire Homeowner, David Bach reveals why buying a home and investment properties is not only possible, it is the surest way to reach your seven-figures dreams on an ordinary income.

The Automatic Millionaire Homeowner starts with the powerful story of an average American couple with a modest income who stretch to buy their first house for $30,000 and retire 35 years later owning a home on a golf course and rental properties worth over three million dollars. Through their story you will learn the surprising fact that even if you have cheap rent you can’t get rich renting! You must first own a home, and make it the foundation on which you build your financial security.

What Makes The Automatic Millionaire Homeowner Essential:

You don’t need a big down payment to buy a home.
You don’t need great credit.
You should buy even if you have credit card debt.
You can buy a second home even if you’re still paying off the first.
You can get started in any market–boom or bust.
It’s easier to be a landlord than you think.

Whether you are a renter or already own a home, David Bach gives you a lifelong strategy for real estate based on timeless wisdom that is tried and true. He includes everything you need to know, with step-by-step instructions, including phone numbers and websites so you can get started right away. His road map to ownership is easy to follow and, best of all, it makes the process totally automatic.

As long as you’re alive, you have to live somewhere. Why not let where you live make you rich? David Bach will show you how.

Editorial Reviews

Amazon.com Review

Finish rich in real estate! Bestselling author David Bach is back with The Automatic Millionaire Homeowner, another user-friendly, motivational book designed to help you "build wealth through homeownership" and "finish rich in any market." Whether you already own your home or are renting, Bach gives you a long-term strategy with step-by-step instructions--making the process almost automatic!

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More from David Bach

The Automatic Millionaire: A Powerful One-Step Plan to Live and Finish Rich	The Automatic Millionaire Workbook: A Personalized Plan to Live and Finish Rich...Automatically	Smart Women Finish Rich: 9 Steps to Achieving Financial Security and Funding Your Dreams
Start Late, Finish Rich: A No-Fail Plan for Achieving Financial Freedom at Any Age	Smart Couples Finish Rich: 9 Steps to Creating a Rich Future for You and Your Partner	The Finish Rich Workbook: Creating a Personalized Plan for a Richer Future

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From Publishers Weekly

Starred Review. He's Baaaach, with a seventh book dedicated to helping readers store up a bundle. Though readers of Bach's Start Late, Finish Rich and The Automatic Millionaire will encounter some familiar material, the bestselling author offers a great book that first-time homeowners and anyone toying with the notion of investing in real estate will find immensely practical. From questions to ask a realtor to explanations of the fine print in loan contracts, Bach offers universally good advice on how to begin saving and building wealth through homeownership. The book is also wildly motivational; frequent asides urge readers to finish the book quickly and start accumulating assets. True to its promise, the book is a swift read, arming readers with everything they need to know in a simple, accessible manner. Just in case any confusion lingers, end of chapter action lists and free online audio supplements are also provided. Bach's extensive experience in leading financial seminars, motivating audiences to take financial responsibility and snagging appearances on Oprah are apparent in his ability to enthusiastically lead readers through even the most arcane aspects of home buying. (Mar.)
Copyright © Reed Business Information, a division of Reed Elsevier Inc. All rights reserved.

See all Editorial Reviews

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Product Details Hardcover: 272 pages Publisher: Crown Business (March 7, 2006) Language: English ISBN-10: 0767921208 ISBN-13: 978-0767921206 Product Dimensions: 8.5 x 6 x 0.8 inches Shipping Weight: 14.4 ounces (View shipping rates and policies) Average Customer Review: 3.6 out of 5 stars  See all reviews (51 customer reviews) Amazon Best Sellers Rank: #678,583 in Books (See Top 100 in Books)

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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

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Customer Reviews

51 Reviews 5 star:  (22) 4 star:  (8) 3 star:  (7) 2 star:  (5) 1 star:  (9)           Average Customer Review 3.6 out of 5 stars (51 customer reviews)		Share your thoughts with other customers:
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.		Most Recent Customer Reviews 1.0 out of 5 stars Disapointed This past summer (2010) I was searching for a book to give me a little inspiration in managing my five rental houses in the midst of the last couple years of real estate turmoil... Read more Published 12 months ago by the little guy 5.0 out of 5 stars Homeowner... The book of the week was The Automatic Millionaire Homeowner by David Bach. I read one of Bach's books previously and I really liked it, so I thought I would see what this one is... Read more Published 12 months ago by Trevor J. Flannigan 5.0 out of 5 stars why do we not teach this in school David writes that all we need do is focus our time on the end game and we will be rich. is this difficult, absolutely not and he explains the steps to become rich by just not... Read more Published 14 months ago by William Magnus 3.0 out of 5 stars A bit dated, but not bad Not a bad book, however he talks a lot about how you don't need any money for a down payment, and he talks about 80/15/5 loans which really are a thing of the past, and were... Read more Published on December 21, 2009 by Achan0x 3.0 out of 5 stars It's a whole new market in 2009 What a difference a few years makes. This book was written at the height of the real estate bubble. Read more Published on January 28, 2009 by J. Klaus 4.0 out of 5 stars Enthusiastic Primer on Initial Home Ownership The title of this book may be a bit over-reaching but this is a good primer for those who are looking to leave renting behind and embark on home ownership. Read more Published on July 30, 2007 by Kevin Quinley 5.0 out of 5 stars Knowledgable This product is well worth it's money. It has many pointers, directions, and links to better your knowledge. Remember, knowledge is power. Published on July 30, 2007 by Elke Johnson 5.0 out of 5 stars Great New First Home Buyer Advice! I bought the book not knowing what to expect , however it had so many good tips that are relevant to buying a home for the first time. Read more Published on May 13, 2007 by C. Johnson 5.0 out of 5 stars What better way to help David Bach couldn't be more right on with the "Automatic" part of his book. I am a real estate agent and for years when someone bought a house from me I would give them a fruit... Read more Published on May 1, 2007 by Anthony J. Nitz 5.0 out of 5 stars Renters:Read this book This book is a 5 star book if you are looking for a book to inspire you to be a first time home owner. Read more Published on April 12, 2007 by Steve Burns Search Customer Reviews Only search this product's reviews

Front Cover | Table of Contents | First Pages | Index | Surprise Me!

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Key Phrases - Statistically Improbable Phrases (SIPs): (learn more)
free audio supplement, advisor you can trust, down payment solution, great real estate agent, finishrich com, mortgage advisor, biweekly payment plan, ordinary homeowner, mortgage plan, tax free profits, direct lender

Key Phrases - Capitalized Phrases (CAPs): (learn more)
The Automatic Millionaire Homeowner, Home the Smart Way, Find Yourself, The Right Fit Mortgage Plan, The Automatic Down Payment Solution, Get the Best Deal, Mortgage Advisor You Can Trust, Latte Factor, Great Real Estate Coach, New York, Bubble Proof Your Real Estate Plan, United States, Home Savings Account, Rebuilding Together, Fannie Mae, National Association of Realtors, Freddie Mac, San Francisco, End Homelessness, Uncle Sam

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Product Details

• Hardcover: 272 pages
• Publisher: Crown Business (March 7, 2006)
• Language: English
• ISBN-10: 0767921208
• ISBN-13: 978-0767921206
• Product Dimensions: 8.5 x 6 x 0.8 inches
• Shipping Weight: 14.4 ounces (View shipping rates and policies)
• Average Customer Review: 3.6 out of 5 stars  See all reviews (51 customer reviews)
• Amazon Best Sellers Rank: #678,583 in Books (See Top 100 in Books)

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.