Customer Reviews

The Part-Time Real Estate Investor: How to Generate Huge Profits While Keeping Your Day Job

5 star:		(10)
4 star:		(4)
3 star:		(0)
2 star:		(1)
1 star:		(0)

 

 

I've read and reviewed a number of "how to make millions investing in real estate" type of books, and I didn't think I'd ever need to read another one, since they are mostly the same (in varying degrees of quality). However, I was attracted to the Part-Time Real Estate Investor precisely because of the humility of its title -- it seeks to help real people achieve real income from real estate while keeping their feet planted solidly on the ground. Since I know the realities of the current real-estate market precludes the possibility of doing it full time (at least from my starting position), I decided to take a gamble on this book, and I wasn't disappointed.

As with any "how-to" real-estate investment book, the Part-Time Real Estate Investor covers a lot of ground, and thus is skimpy on the details in some areas. Fortunately though, this book focuses on some areas that are ignored by the pie-in-the-sky type of investment books. For example, it spends ample time on subjects like "Buying Your First Home," buying a home with bad credit, "Land Contract and Lease Purchases," etc. The bad credit chapter was particularly informative, I thought, as it examines whether or not you should buy a home with below-average credit, given the higher interest rates you'll incur. Most books are simply rah-rah for homebuying (and selling), but this one is more sensitive to individual's situations.

There is no ONE book that will tell you everything you need to know about being a real-estate investor, but this one is a good place to start, particularly for people with realistic and modest goals. Others, like those from the Rich Dad series or by author William Bronchick, are also helpful, especially from a psychological perspective. But this book contains some of the best pure information of any I've read. I would advise others in my shoes to grab this book as well as two others I recently reviewed, Inspect Before You Buy (by Charlie Rose) and Your Real Estate Closing Explained Simply (by Michelle Blain), which go into those two areas in greater depth than this book is able to. No ONE book will teach you all you need to know, but these three books as a set come pretty close!

This book explains everything you'd need to know to start investing in residential properties. It includes explanations and suggestions from the very basics of starting your own business including how to update your wardrobe and set up a home office as well as delving in depth into the real estate procedures, policies, and terms required to succeed. Unlike many books I've read on real estate investing, this one is easy to read since it is written in a conversational, personal tone (almost like having your own mentor). I especially liked that for most of the concepts explained, he provided examples with actual dollar amounts to help illustrate the ideas. From a technical perspective, this book provides a solid overview of how to buy with little or no money down, how to buy a foreclosed house, how HUD works, the advantages and disadvantages of the "fixer-upper", and the risks and potential gains of abandoned/vacant properties. It also is a good introduction to how real estate taxes work and tips for maximizing your profit. The "Tips and Techniques" section provides good insight and the index makes this not book one you'll want to hang onto. If you were only going to buy one book about real estate investing, this would be the one.

Having read a good deal of real estate investment guides, I had prepared myself for another run-of-the-mill, same old investment book. I was pleasantly surprised, not only by the sheer volume of useful information presented in this book, but also by the incredible organization of Blacharski's innovative take on a popular subject.

Who doesn't want to make money in real estate? The Part-Time Real Estate Investor effectively takes the guesswork out of getting started, making this lucrative investment strategy accessible to even the most novice of real estate investors. Broken into three major sections with twenty-eight comprehensive chapters, this book flows easily from real estate education and goal setting, into the nitty gritty of starting a business and evaluating deals, right into what to do with your earnings once you "make it" in real estate investing. Blacharski has left no stone unturned as he explains in easy to understand terms every important facet of real estate investment.

The techniques and principals outlined in the book are more than fanciful theory, as each is explained in a way that can be applied in real life investing. I found the exhaustive glossary at the back of the guide educational and a great bonus on top of the step-by-step investment strategy throughout the rest of the book. One walks away from this book feeling confident that they have been given the guidance and instruction necessary to make it in real estate investment.

You gotta love a guy who opens a book about part-time real estate investing with the information that he hasn't "had a real job in 15 years." Dan W. Blacharski then proceeds to explain in exhaustive detail how you, in 15 years (perhaps less), can write the same sentence.

Among the many things you'll learn from reading The Part-Time Real Estate Investor: How to Generate Huge Profits While Keeping Your Day Job is the fact that while the shortest distance between the two points (idea and success) isn't really all that long, the actual path can be long and winding and you should, first and foremost, prepare yourself for a less than instantaneous journey.

"There may well come a point when you will be working only a few hours a day and taking in millions," he writes, "but that point is not today. It will take a lot of hard work to get there."

You will also learn that in many ways, bankers and real estate agents are not going to be your best friends in this investment endeavor of yours. In fact, Blacharski will explain, they will often be at odds with your goals. Real estate agents earn commissions from the sale of a home and are likely, therefore, to view alternative methods of purchasing real estate with considerable skepticism. Banks are in business to make money. They are not in the business of making you money, so like the real estate agents, they will tend to view any creative financing ideas with the same sort of skepticism. Alternative methods of purchasing real estate and creative financing ideas are the backbone of the method(s) that Blacharski details in the book.

He walks you through it all, clearly and concisely, detailing all of the alternatives and creative financing arrangements that are available and desirable to the potential, part-time real estate investor. What seems clear is that many of the people who've trod this path (i.e., those who've made initial investments and parlayed the profits into millions) did so by using some combination of the techniques outlined in this book.

What is not so clear is whether you, dear reader, will be able to do the same thing, especially if the plan actually entails maintaining a full-time `day job' while you explore the possibilities inherent in real estate investment. To his credit, Blacharski makes no claim, offers no guarantee and doesn't climb on a media soapbox claiming that you're going to be a success through the simple application of the principles he outlines. He tells you upfront that it's going to be hard work and in many cases, will involve failure. He recommends that you absorb such failure and soldier on, using each instance of failure as a lesson learned, not to be repeated.

If there's a concern about how this information is laid out for you, it's that it has a tendency to come at you like a comfortable shower, which is all well and good, as long as you don't have to pay strict attention to and retain a specific memory for each drop of water that lands on you. It's just a lot to absorb in a single setting, or two even, or even the amount of time it would normally take you to read a book. Without a photogenic memory, you're going to have to go back and re-visit the concepts and specific details of each situation in order to effectively utilize the strategies and tactics that Blacharski has outlined in this book. Some of it, of course, will come with experience, but even initial experiences with this investment route will need to be supported by a strong knowledge base that can't realistically be learned simply by reading the book.

This is not necessarily a bad thing. The devil, as we all know, is in the details, which, no matter how clearly Blacharski outlines them (and he does do that), will still be your responsibility to execute. Bearing this in mind and being aware that this book is a blueprint, not the finished `building' of wealth that you, as a potential part-time real estate investor, are seeking, the 290 pages of clearly articulated and well-written information are well worth your time.

While many authors may try to persuade you that you can make millions of dollars working a few hours a week and enjoy the rest of your time, the author of this book does not make this promise and I appreciate that. While this book is for people who want to start in real estate and keep their job, at some point you might want to make it a full-time career, but you need to realize that it will take a lot of hard work to get there. He says when the time comes to quit your job, you are more likely to work longer hours for yourself than you did for someone else. So don't think that initially you will be able to set your own hours like you always wished.

Whether you invest full-time or part-time, the author says that real estate is a business and you need to treat it as one. So get nice-looking business cards, a website, business attire, and a clean and well-maintained car. I don't think that you will be disappointed reading this book.

- Mariusz Skonieczny, author of Why Are We So Clueless about the Stock Market? Learn how to invest your money, how to pick stocks, and how to make money in the stock market

Not only was this an enjoyable read, but also intriguing. I have always wondered how it would be to dabble in real estate. The Part-Time Real Estate Investor lets you see into this world, and actually see yourself in it. Mr. Blacharski gives all the detail a reader needs to jump in and invest in that first property. He outlines how to proceed slowly at first and become knowledgeable about your properties. Then take it to the next level to build a real estate portfolio. The information in this book will give you the confidence to delve into investing for yourself.

This book not only gives you solid advice and strategy, but also discusses and dispels many of the get rich quick schemes that have been so popular of late. You can not get something for nothing and the author explains exactly how the "no money down" schemes work. There are lots of easy to follow financial examples that demonstrate how to figure profits, expenses, closing costs and the like. When he talks about doing things that are risky, because nothing in this world is secure, it really hit's the mark with me. This book goes into detail about the confusing real estate world. It's really a no nonsense guide to real estate investing.


I would recommend this book to anyone - really! This may very well change your life.

With only knowing the very basics of real estate and being interested in learning more about "flipping" houses, this book was wonderful. Dan covers everything from figuring out how to handle all the paperwork to each step of the process from looking for houses, to selling or renting them.

Dan covers the whole process in great detail focusing on almost every possible situation and telling you how to use it to your advantage or how to get out of a tough spot. He gives plenty of resources and examples by using other's stories as well as his own experiences. He uses these to explain the important points of investing in real estate and to make sure that the reader understands the real estate and banking lingo.

I borrowed this book from a friend, now I will definitely have to go out and get a copy for myself. This book would be great for people of all ages and financial status. He has a way to "dummy down" all the fancy terms and phrases and puts them in a light where anyone can understand them. He also covers all sorts of options to cover any situation no matter the financial status. I think the thing I liked the most besides all the info in a format that is easy to understand and access is that he tells you the truth. When you should and should not use a certain strategy, he doesn't sugar coat anything at all like most sales people do.

With this book, Dan Blacharski has done a terrific job of de-mystifying the world of real estate "flipping" and investment strategies. An easy read, his nearly 300 page manuscript is chock full of useful tips for the first time investor. The glossary of real estate terms in the back of the book is not only helpful, but necessary in order to navigate the often tricky world of realty contracts and laws.

Mr. Blancharski shows how an initial investment of only $10,000 can pay off in millions in the long term, and how it's possible to invest without any seed money at all. At the same time he warns about how over-extending yourself can lead to financial disaster, especially for those who want to "get rich quick".

I can't wait for my husband and I to buy our first property.

I found this book very easy to read and very informative. It made no "get rich quick" promises while presenting the methods that can be used to do so. I will likely read it again soon.

OK, I've read the book. Its still 4 stars. The best part is the explanations and uses of subject-to and land contracts. Each allow you to sell a house to a sub-prime borrower for a higher interest rate and protect yourself by keeping the house if the borrower defaults.

He really missed the possibility of home prices cratering. My wife and I are looking at homes in an area where some are selling for about half of what they sold for two years ago.