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6 of 6 people found the following review helpful:
4.0 out of 5 stars
Good Starting Book, August 9, 2006
This review is from: The Real Estate Coach (Instant Success Series) (Paperback)
An easy read with several key tips for the novice investor and many tips and principles are in bold text for you if you if would like to recall at a later date. I would definitely recommend reading this book.
I gave 4 stars because I would have liked more explanation or analysis with financial discussions, especially since getting the financial analysis right is key. For instance, there are tax rules associated with property investing and it's not clear what some of these inherent rules are which were used in financial analysis. For instance on page 35, it calculated a $1,615 after tax cash flow. I guess one must assume that even though you don't pay any federal income taxes on your investment property you can actually get a refund back from the government. If this is true, it's a pretty important point and should be considered being clarified and highlighted.
In addition on page 35 it says "let's assume it grows at just 5 percent". Then the lower table used an analysis of 6%. I think this might be a typo, but if not this too is not clear to the reader why there is a difference between the figures.
Also, he mentions to buy income producing properties with an interest only loan. However, it's not clear if one should do this all the time. For instance when you know the rates are going up do you still keep it in an interest only loan? When do you pay it off or refinance to a fixed, if ever?
Also, the financial cost of real estate agent fees were not calculated, and I suspect may make a difference between a buy, hold, or sell decision. There might be a reason for this but again it's not clear.
Overall it's a great book for beginners such as myself, and I would recommend this book along with a follow-on book which can go into detail on the financial aspects of real estate investing.
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8 of 9 people found the following review helpful:
4.0 out of 5 stars
Sound Principles for a Beginer in Real Estate, June 25, 2006
This review is from: The Real Estate Coach (Instant Success Series) (Paperback)
The Real Estate Coach: A Story of Real Estate Investing Success, by Bradley J. Sugars
"Remember this fact: How happy would you be if your grandmother had bought 10 properties 80 years ago in downtown Los Angeles, London, Sydney or Tokyo?"
"Investing is about your future- your family's future- it's not about tomorrow. Making money tomorrow is what your job or business is for; investing is about 3, 5 or even 10 years from now."
"Keep this one principle in mind: you don't have to be rich to invest, but you have to invest to be rich."
This book will give someone who is thinking about investing in real estate the push they need. It's a cute - quick story about a middle aged couple who are seemingly well off, yet want to build assets and net worth for their future and happen to be introduced to a real estate "coach" or mentor who explains the benefits and strategies involved with investing in real estate.
A particularly interesting concept was the "Property Wealth Wheel" which is simply a way of looking at or bunching different types of properties together so the quick profit from a flip will fund further property purchases and the cash flow from some properties will help cover others that don't have cash flow but are expected to appreciate at a faster rate.
By Kevin Kingston, Author of, A 20,000% Gain in Real Estate: A True Story...
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5 of 5 people found the following review helpful:
5.0 out of 5 stars
An invaluable real estate knowledge tool, June 15, 2006
This review is from: The Real Estate Coach (Instant Success Series) (Paperback)
As a person looking to invest in real estate I bought this book as an educational tool.
What a gem it turned out to be! Not only is Brad Sugars advice in this book inciteful and smart but the book itself is actually an enoyable and entertaining read. In the sea of real estate books this one definitely stands out from the crowd.
No average boring real estate investment book here!
I was entertained as the story of Brian and Sarah unfolded as well as being inspired to begin investing in real estate.
This book explores real situations with real peole to whom you can relate to.
Sugars gives all the tips, tricks and keys to success that any potential investor will need to begin creating wealth through property investment.
Just one of the many outstanding pieces of advise Sugars gives in this book is "You don't have to be rich to invest, but you have to invest to be rich".
For anyone looking for a great real estate book don't go past this one!!
I was bursting with both ideas and new found knowledge once I'd finished reading.
Brad Sugars has put his vast wealth of knowledge and personal insights into this book so if you want to start "living the dream" this is a must read.
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