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Nothing Down for the 2000s: Dynamic New Wealth Strategies in Real Estate Paperback – October 15, 2010
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Top Customer Reviews
There is NOT good coverage of the RISKS. Allen is suggesting the most highly leveraged transactions you clould ever enter (short of buying futures on margin). Win, win big. Loose - you are Bankrupt (if your starting with minimum assets).
This is a good way to make money, there are risks and you must understand them. As well as knowing your market.
If you buy with no money down AND the market is going up you can't really loose. The things that spoil this, are:
* Macro economics - interest rates go out of control.
* Local markets. E.g. what is going to happen to the property market in Florida after the sting of hurricans?
The author brings home the power of leverage (this is pivotal to growing your net worth, whatever your strategy). He doesn't cover off the risks so well. Must have for prospective real estate investor; but underplays the downside.
Post Script: Clearly the people who wrote the next couple of reviews really don't like any critique of Allen's work. I wrote this book "UNDERPLAYS" the downside, I didn't argue the book ignores it. For example, the medium and long term impact on Florida's real estate values can't be determined yet - insurance increases and coverage issues wont surface for at least a few months, when they do, it will impact premiums. The damage and loss will also act as a detterant to potential buyers considering a move.
The exit strategies outlined in the book are superficial.Read more ›
Most real estate books you get the usual do this, do that. With Allen you get all of that too PLUS Allen shows you how to find your purpose or why real estate investing might not even be for you!
Nothing Down for the 2000's is a great book and deserving of it's high ranking here at Amazon.
In this new edition, you will find very little new and that is not to attack Allen, the fact of the matter is what worked 20 years ago still works today.
If you are like me, if you have the older edition all dog eared, worned out with cliff notes and pages falling out, you will probably doas I did and buy this edition as well just to have a new fresh copy. Or perhaps you have loaned out the book and never had it returned.
There are some updates that are worth reading. Overall this is the all time real estate classic for buying real estate with Nothing Down. I also recommend Real Estate Money Machine by Wade Cook for cash flowing real estate. By the way, I first heard of Wade Cook via Robert Allen who wholeheartily recommends Wade Cook's real estate books and strategies.
Unlike 24 years ago when the original version of Nothing Down came out, these techniques are no longer new. Robert Allen does have a way of communicating these methods in an easy to read and understandable way.
The testimonials were exciting and encouraging as well. And I enjoyed the people skills techniques that Robert Allen teaches.
Nothing Down is a great book and I highly recommend it.
When you buy the book go straight to the chapter on lease options. It's worth the price of the book alone.
So far, I have only gotten through about half of the book but boy am I impressed! I wish I would have known about this guy long ago.
Robert Allen, where have you been all my life?
What I like about Allen's book is that it is not a get rich quick book. Allen offers a realistic approach to invest successfully in real estate and without the buy and hold mentality (Nickerson method) although appreciation is still one of the biggest profits in real estate. Robert Allen explains that a house bought in 1980 for $62,000 is now worth over $155,000.
You would think that everybody would be in real estate. Why not?
Allen uses a gross equity chart to show how much you can make in real estate. He also uses a net equity chart to show how much real estate you have to buy now to reach a certain goal, say $1 million net worth by a certain time. I was surprised that it didn't take as much or as long as I thought.
Allen also cautions against going wild buying too many properties or buying the wrong properties. If real estate is so great, why not just buy everything you can with nothing down right? Wrong.
Allen explains that no matter how careful you are, their will be vacancies and some things will go wrong. For example the recent hurricanes in Florida. Allen offers strategies to prepare for those events and to prevent you from going hogwild in b uying too many properties too soon. You could easily become real estate rich but cash poor. You could have a net worth of a million dollars with not enough money to buy lunch.
Allen also devotes a whole chapter on what to do when you become the don't wanter.Read more ›
Most Recent Customer Reviews
This guy is such a cheeseball. I know these tactics can work, I know people who have used them. for the most part they're outdated and lending institutions are wary of them. Read morePublished 1 month ago by dana denney
I purchased my first home without using a penny out of my pocket using these No-Money Down Methods and I am 25 years old. Read morePublished 8 months ago by Dedan
A great book for the beginning investor. Gives you the basics of real estate investing and a plan to make it work. Read morePublished 16 months ago by N. Cunningham
Very informative. Clear. Excellent directions for new investors. Applicable.Published 17 months ago by Amazon Customer