Customer Reviews

A Fortune at Your Feet: Millennium II Edition: How You Can Get Rich, Stay Rich, and Enjoy Being Rich with Creative Real Estate

5 star:		(5)
4 star:		(0)
3 star:		(3)
2 star:		(2)
1 star:		(2)

 

 

Call me Doubting Thomas, but I question Kessler's claim of making a million dollars in a lease option with only a hundred dollars after the war while he was in a wheelchair. Still, I feel that he does present some good, creative ideas (though many of them somewhat vaguely) in his book. And HE certainly knows his material. There's no doubt about that.

Still, I'm somewhat bothered by the letter from his company I received in the mail, saying that I could have that ol' purported billionaire serve as my mentor, only to find it would be someone else, be on the phone, and cost me 5 grand. Now, 5 grand might be chump change to a billionaire, especially if he lives in a pricey neighborhood in California or New York; but to a beginning investor on a shoe-string budget, it might mean the difference from positive to negative cash flow, or even bankruptcy. It doesn't seem to promote that win-win mentality that he professes so dearly; it's more like win (him) - lose (me). With that same five grand in my neck of the woods, I could put down a 20 percent deposit on a foreclosed two-family that needs some work and could be fixed-up, re-financed (pulling the money back out for the repairs and down payment while still maintaining 20 percent equity in it), and still receive a good, positive cash flow. Or a single-family that could be lease-optioned out afterwards.

Overall, I would have to say I liked his book, and say it rates at least a 3, maybe a 4 over-all. On more complicated aspects of real estate, like 1031 exchanges, which was a gray area for me as a somewhat novice, I'd say it rates a 4.5 (nothing is perfect).

Still, I enjoyed Robert Allen's book "Nothing Down for the 90s" much more, though. John Ross's book "Lease Purchase America" was enjoyable too, covering the nuts and bolts of small property purchases and selling, using lease-options.

I have read the name A.D. Kessler recommended by many famous creative real estate entreprenuers, thus, I hoped for much more. This book starts out with real estate definitions. These definitions are made much clearer in a standard real estate textbook. The majority of the book is spent giving examples of others creative exploits. Little information is given on actually becoming a creative investor. Perhaps part of the problem was the fact that this book was written twenty-one years ago. I'll bet even if this were the most updated version there would still be much better books out there. Even though there are only 270+ pages, I struggled to finish reading it. There is actually a lot of information within these pages. I've just already read much better. Save your time and money. Avoid this book.

I teach a beginning real estate class at the College of Alameda, in CA. I use this book as a text. Mr. Kessler's presents an excellent introduction to investing because it focuses on the importance of people, not the technical aspects of property analysis. He presents powerful and unique ways for the average investor to create "good deals" when buying real estate.

By focusing on finding sellers who have a problem, and teaching the readers to be problem solvers, this book becomes a valuable resource for the real estate entrepreneur.

If you can solve people problems with creative purchases, you don't need extensive analytical tools. In fact, if you can't analyze a real estate purchase on a napkin, it is probably not a doable deal.

My students like the author's emphasis on what wealth is and how to maintain it. And they love the "real world" examples. We discuss and elaborate on them in class every week.

I highly recommend the book.

Jon Richards
College of Alameda...

I am put off by the tone of this book. The author inserts many subtle and not-so-subtle pitches for his services (Creative Real Estate Newsletter and organization), including Chapter 16, "The Exchange Marketplace," devoted to his Creative Real Estate Expo. Hokey case stories abound. Sometimes whole pages consist solely of motivational puffery. The final, 10-page chapter is devoted to teaching us how to enjoy being rich.

That being said, the author presents many standard and some less common principles of real estate investment. I didn't find any astonishing insights I could not discover elsewhere, but the book constitutes a decent overview and a constant admonition to look for innovative methods of acquiring and selling real estate.

Some people claim that A. D. Kessler is the father of creative real estate. He is the publisher of a magazine by that name, Creative Real Estate. Also Robert G. Allen of "Nothing Down" fame apparently attended creative real estate classes conducted by A. D. Kessler before writing "Nothing Down". With those three credentials before him there are certainly high expectations for this book. The author started investing in real estate following his return as a decorated and wounded soldier from World War II. At 80 years old and still currently active in real estate, Kessler's career in real estate is among the longest. The only other living author/investor that comes to mind is David Schmacher and his book "Buy and Hold."

Kessler gives freely in his book of his sage advice.

"There are no problem properties only problem ownership."
"Buy in the path of progress."
"Find property that is increasing in value."
"Buy on the water side."
"Buy on the hill side."
"A word on Pyramiding Don't"

Much of this is generalities that either is common knowledge or is subjective. I'm sure almost every investor is looking for a property that will increase in value. And most people don't need to read a book to come to that conclusion. But the implementation of that idea is easier said than done. Buying on the hill side and water side are also kind of intuitive. His caution on pyramiding is that you could be overextended if there is a decrease in market value or some other turn in your fortunes. There is merit to that, but on the other hand to grow you have to expand. There is a fine line between overextending yourself and growing your business, but I can't tell you where that fine line is for you. Kessler ascribes to the win-win negotiating theory as does his student Robert G. Allen. There are many techniques that if you read the Allen book will seem familiar. Substitution of Collateral, walking the mortgage, dealing in paper, are just some of these topics. There is a section on exchanging, options and estate planning. There are many personal stories about Kessler, his associates, clients and friends in the book from the author's long tenure in real estate. But despite the experiences of the author and his long career in real estate, this is not an excellent book, only a good book. Most of the stories are general in nature and don't present the details to translate this story to something practical today. The original book was written in 1981 and updated in 1999 for the new millennium. With Kessler's wealth of experiences, his Creative Real Estate Magazine, and the gurus he has taught, I would have expected this book to have the possibilities of either a 4 or 5 star rating. But with the generalities, the platitudes, and profundities and lack of details I can only give it a 3 star rating.

The letter that arrives in the mail offers this book, a DVD, and an offer to become part of A.D. Kessler's "Financial Success Dream Team" for only $7. The $7 is the shipping on the book and DVD. To become part of the "Dream Team" you actually have to shell out THOUSANDS of dollars - and you won't get to work with A.D. Kessler ... just some guy or gal on the phone. With who knows what kind of experience.

How is THOUSANDS for advice realistic for someone looking for a "no money down" deal? The answer is that it isn't. A.D. Kessler is just looking to make a buck or two.

I would recommend Investing in Real Estate 4th Edition by Andrew McLean and Gary W. Eldred instead. (ISBN: 047132339X) It costs only a little more than that $7 you'd waste to get a sales pitch to spend a whole lot more. And, it is much more useful. Tells you exactly how to calculate whether a particular real estate purchase would benefit you or not.

Choose wisely. Happy investing!

A.D.Kessler knows how to make a $130,000 from selling his books, dvds and programs. Reading his book didn't give me the tools I thought I needed to understand and lease option a property. There is some good information in the book and I recommend this book if you are a novice. I am looking for another book to get more information.
Anthony - Los Angeles, CA

As opposed to the 50 years of collective experience of 5 or 6 coauthors, this definitive document outlines and analyzes over 50 years of experience of one apparently insightful and highly intelligent individual.

This easy-to-read book goes as quickly as a detective novel, but each chapter contains ideas and concepts which the author has demonstrated to be worthwhile moneymakers in his hands. Moreover, Dr. Kessler tells you HOW he has made money for himself and others using these ideas.

Buy it!! You'll like it!!

Of the tens of real estate books in the store, none can approach the validity, honesty and clarity that A.D. Kessler demonstrates in this truly how-to book. His personal anecdotes and case histories make the subject come alive. Not only did I get much more than I expected from this book, and am now involved in making money in real estate as a result of my reading it, my older brother is now deeply into it, (my copy) and he has vowed to start investing for profit using some of A.D. Kessler's ideas and principles. Which brings to mind the fact that the principles in this great book are every bit as unique and important as the techniques. And that is something I found in no other real estate book. In a word, this book is priceless!

Before reading this book I had played with the thoughts of investing in Real Estate, but never found a way that really worked. After reading this book and implementing the formulas, my life has changed dramatically. I lived in a small 700 square foot apartment before, and now having implemented the formulas over a short time I now live a 4000 square foot home on an acre of land. This book will truly change your life!