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Nothing Down for the 2000s: Dynamic New Wealth Strategies in Real Estate Paperback – October 15, 2010

4.1 out of 5 stars 70 customer reviews

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Editorial Reviews

From Publishers Weekly

Real estate is both the "simplest, easiest, safest, shortest route to financial freedom" and an invigorating self-help regimen, insists this latest edition of the bestselling financial primer. Real-estate guru Allen’s system has two tenets: 1) buy residential rental properties from desperate "don’t-wanter" sellers, and 2) pay "nothing down," using "Other People’s Money." After a broad but incomplete introduction to conducting and valuing real-estate transactions, he gets down to the nitty-gritty. Tenet 1 requires searching classified ads, hunting for For Sale signs, rummaging through foreclosure, bankruptcy and divorce records and otherwise beating the bushes for motivated sellers, then wangling the price down further. Tenet 2 requires a labyrinth of "creative" financing schemes involving various combinations of partnerships, options, floating bank loans, life-insurance policies, unsecured notes, second and third mortgages on multiple properties and other "paper formulas." Allen sells this program, with much motivational hectoring, as an opportunity for self-actualization. He insists that the only barriers to success are fear and lack of imagination, provides readers with worksheets to help them set concrete goals and discover their purpose in life, and suggests a visualization methodology called Neurobics to get them fantasizing about the wealth that will be theirs in the real-estate business (after an initial "starvation period"). Despite himself, Allen portrays real estate not as a safe and simple road to riches but as an all-consuming life project, full of endless trolling for leads, hardball negotiations, murky wheeling and dealing and sudden scrambles to meet financing deadlines and loan payments. Personality types who thrive on such a highly leveraged career of risk-taking and sharp practice will love this book. Others may balk at the total reconstruction of character and lifestyle Allen’s book appears to demand.
Copyright © Reed Business Information, a division of Reed Elsevier Inc. All rights reserved. --This text refers to an out of print or unavailable edition of this title.

About the Author

Robert Allen is one of the most influential investment advisors of all time and has authored several bestselling personal finance books including Multiple Streams of Income, Nothing Down, Cracking the Millionaire Code, The One-Minute Millionaire: The Enlightened Way to Wealth (coauthored with Mark Victor Hansen), and Cash in a Flash: Fast Money in Slow Times (also coauthored with Mark Victor Hansen). Robert conducts a series of investment and personal development seminars through his company, Enlightened Wealth Institute. A popular talk-show guest, Robert Allen has appeared on hundreds of programs, including Good Morning America, Your World with Neil Cavuto, and Larry King Live. He has also been featured in The Wall Street Journal, Newsweek, Barron’s Money Magazine, and Reader’s Digest.
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Product Details

  • Paperback: 320 pages
  • Publisher: Free Press; Rev Upd edition (October 15, 2010)
  • Language: English
  • ISBN-10: 1451624255
  • ISBN-13: 978-1451624250
  • Product Dimensions: 6 x 0.7 x 9 inches
  • Shipping Weight: 1.2 pounds (View shipping rates and policies)
  • Average Customer Review: 4.1 out of 5 stars  See all reviews (70 customer reviews)
  • Amazon Best Sellers Rank: #162,487 in Books (See Top 100 in Books)

Customer Reviews

Top Customer Reviews

By Stuart Gardner VINE VOICE on September 17, 2004
Format: Hardcover
Buying a property for no or little money down is possible, and this book shows the principals and strategy for making alot of money from the property market using this strategy. It's money well spent in comparison to the Sunday morning info-mercials on this topic.

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.
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Format: Hardcover
One of the things that impressed me the most about this newly revised edition of Nothing Down and about Bob Allen in particular is the emphasis of finding your purpose. This is something that no other real estate author talks about.

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.
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Format: Hardcover
I bought the first edition of this book back in 1983. Went to work, bought my first home nothing down and then went on to buy several rental properties all with nothing down. The advice works.

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.
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Format: Hardcover
I have been a fan of personal development and financial books for quite some time and of course am very familiar with Robert Allen. Seeing the new release of this classic, I decided to shell out the (--) to buy it at our local Borders.

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.
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Format: Hardcover
The whole book is great, but the chapter on lease options was especially graifying to me. I found that I could go through my local newspaper, look up both homes for sales and even homes for rent and find all sorts of deals.

When you buy the book go straight to the chapter on lease options. It's worth the price of the book alone.
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Format: Hardcover
I only heard of Robert Allen due to the high rating of this book here at Amazon. Then I went to Wal Mart and found that they were selling it and customers were buying this book like crazy so I made the purchase.

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?
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Format: Hardcover
Nothing Down is a fantastic book on how to investprofitably in real estate. Easy to see why Nothing Down has sold millions of copies and was on the NY Times best seller lists for 46 weeks.

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.
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