Customer Reviews

Real Estate Money Machine: Real Estate Cash Flow Formulas That Really Work

5 star:		(17)
4 star:		(2)
3 star:		(2)
2 star:		(0)
1 star:		(7)

 

 

In 1983 I bought the original version of this book, "HOW TO BUILD A REAL ESTATE MONEY MACHINE" Today, my net worth in Real Estate is over $900,000 with a monthly income stream of over $20,000. That should tell you the power of this book, when applied.

I knew a lot of people who told me I was nuts. They were hooked on the "FIX EM UP" "BUY & HOLD" Traditional Rental Game.

I found that buying real estate was in fact the easy part (I guess a lot of people wanted out, that should tell you something about tradition) and started meeting a lot of real estate owners who were real estate rich, but cash poor. The three T's. tenants, toilets and turnover was eating them alive. I found out quickly that being a landlord was not for me.

I also found that there were a lot of people who wanted to be owners, but didn't have the cash or credit for conventional financing (especially in the REAGAN-OMICS ERA of high inflation)

Th! ese techniques still work today> Try it----you'll like it!

I was introduced to Wade Cook via his excellent stock market books. I have created an excellent side income with covered calls, options, stock splits, naked calls and naked puts.Mr Cook advises to take your profits from the stock market and move it into real estate and other places. What thatin mind, I started investing in real estate and bought Real Estate Money Machine and How To Pick Up Foreclosures.Mr Cooks system makes so much sense. Just like his stock market strategies. It's all about cash flow. I know some people who are landlords and hate real estate (I can see why) and all the problems with tenants.As Wade Cook says; "If you'll do for two years what most people won't do, you can do for the rest of your life what most people can never do."I also recommend the 16% solution and Flipping Properties.Great books. Read them and use them.

I picked up a old battered copy of How to build a Real Estate Money Machine in a 2nd hand book store and began to implement the strategies here in California where everybody said the Real Estate market was dead and there was no money to be made anymore. When you buy Real Esate the WADE COOK WAY, YOU CAN MAKE MONEY IN ANY MARKET AND IN ANYPLACE.

i AM NOT RICH, but I have a second income from my real estate properties that is more than I make from my job of over 25 years. I don't get calls to unplug a stuffed up toilet, fix a roof, replace carpets etc. I find it's easy to get buyers for my properties since they don't need to go to a bank for financing, I'M THE BANK!

I'm also using Wade's stock market strategies via WALL STREEET MONEY MACHINE, STOCK MARKET MIRACLES AND WEALTH 101.

Mr Cook is somewhat of a trendsetter. He pioneered the "Money Machine Concept" in Real Estate and now is doing the same thing in the stock market.

You won't find any negative ! reviews on Wade here because the concept works. Lease Options are now a proven quantity for Real Estate Investors. Soon, Wade's stock market strategies will be accepted as well as lease options are in real estate only because they work!

Considering all of the downsizing that has been going on, now is the best time to use these techniques. Consider this: One of the best selling real estate books right now, published in 2001, is teachng the same techniques with one difference--Real Estate Money Machine is even better.

In the case of Wade Cook, best selling author, successful real estate investor, successful stock market investor and successful seminar promoter and businessman.

Mr. Cook shares his wealth of experience and I among many, am glad that he does. Real Estate Money Machine has been a best selling book since 1980. I think that says a thing or two about Mr. Cook as well and how real investors think about him.

Refunds? That is called buyer remorse. People buy a product and then once the novelty wears off and they realize that it does require one to roll up his/her sleeves and go to work, the easy out appears to be a refund.

I won't even waste my time to address that magazine writers views against Mr. Cook or other successful businessmen. Besides, the fact that her newspaper column was cancelled over two years ago, her magazine articles are fewer and fewer should tell you what readers think of that smear spreader. The fact that she has written a book that nobody wants to buy tells me that there may be some peer jealousy as well.

In any event, Real Estate Money Machine is a great book and a must read for all serious real estate investors. And unlike other authors, at least Mr. Cook can speak from experience. He has done it.

Looking forward to Mr. Cooks next foray. Wall Street Money Machine Vol 7? Or Real Estate Money Machine Vol. 2? Either way, I'll be a buyer.

This is probably the best book on real estate investing for the beginer on the market. Sure some of the content is a bit outlandish but if one wants to get into real estate investing this is the way to start. From the days of William Nickerson and Marc Haroldson to the more current Carlton Sheets and Wade cook, this is the way to begin.

Yes, it is true non-qual assumptions are harder to find, but they are still there. I live in one of the largest cities in Texas and each month there are more than 10 non-qualifing assumptions listed for sale in the classified real estate section.

Most of the people who have a problem with Wade Cook's programs are those who are over educated, licensed and/or timid.

I have purchased more than 50 income properties using some of Wade Cook's strategies.

Another step that helps is to join a local real estate investment club. Many of Wade Cooks ideas run rampant at these meetings. The worst thing any investor or potential investor should do is go talk to a realtor (a salesman!) for investment advise. If they had any investment advice to give they would be following it instead of "listing" and "selling" properties.

The Wade Cook book will help you turn the corner and will make you realize that as real estate conditions change you must continually educate yourself to stay abreast of the latest trends.

Revised for the 1990's, this book fails to live up to its lofty promises. I am a full time real estate investor. My prior occupation was as a real estate title attorney. Cook wastes much of the book discussing the evils of banks and the difficulty of obtaining financing from lenders. He does not mention the relative increase in investor lending due to mortgage brokers, who often lend money from sources like insurance companies or corporate pension plans under more attractive terms than the banks of the 1980's when the book was originally written. The big untruth--Cook's system is based upon finding assumable mortgages and turning the property around fast with minimal investment. Properties can be bought below market value, mimimal investments can be made, and sizeable profits realized. The deals are out there in quantity. However, the freely assumable loan (with no qualifying) is a creature of the 1970's and before. When the book was originally written, this technique would have been extremely powerful. These loans aren't around in any quantity anymore, making the system extremely difficult to operate as described. The book is lacking in detail as well. I would like to point out that I have no axe to grind with Wade Cook. I bought the program with the idea of getting rid of some of my rentals and not being so dependant on fixing up and flipping, which makes you into a virtual shark searching for deals constantly to keep going and keep your subs working and loyal to you. I had high hopes for this book, but do not find it workable in 1999. It was easily workable in the early 1980's when a vast majority of loans were freely assumable. (Note that modern fha loans are assumable, but only with lender approval. Investors cannot assume these loans). Good luck on your investing

I already had quite a bit of knowledge from other books, tape programs and seminars. Wade Cook has a interesting style and his techniques will make you cash flow rich.Buy the book and use it. You'll profit from it.

And from what I found out about Mr. Cook is that he made a fortune in real estate and another fortune on Wall Street. Wade Cook pioneered, practically invented the concept of lease options. He was doing it before it became fashionable.

Real Estate Money Machine is an outstanding book for those who want to learn how to cash flow the real estate market. Buy and hold is okay, but buy and make money today is even better.

Not get rich quick, but definitely get richer quicker and turn cash flow rapidly. Wade's strategies are not theory, they work.

This book is highly recommended for anyone who wants to make the most of their money as a real estate investor.

Regarding that supposed authority who slammed Wade. She slams everyone. Is nicknamed "The Queen of Smear." Of course the only people she goes after are best selling authors. Why? Probably because nobody ever buys her books. Her newspaper column was cancelled over two years ago and since Suze Orman came along, JBQ has all but dissappeared. No website and she needs a dorky self publisher to do allo f her talking for her. Just wanted to let you know what you are dealing with.

That said, WADE is controversial and investing is not for everyone. Some people just on't get that. You can't buy a book and expect magical things to happen. It takes effort. Wade explains that but unfortunately some people miss that very important point.

Along with Real Estate Money Machine I also recommend How To Pick Up Foreclosures and 101 Ways to Buy Real Estate Without Cash both by Wade.

I have to laugh when I see reviews like the one posted several reviews beneath this one suggesting to research the author and listing a news-magazine reporter as the reference.

This reporter had her newspaper column (a failed financial column)cancelled several years ago due to a lack of interest and her articles in Newsweak are appearing less and less frequently as well. As best I know, JBQ, the reporter has never been nor is is now a real estate investor, stock investor or a successful businessperson in anything. She is a writer. And oh by the way, was it just a coincidence that Wade Cook is also a best selling author and had his books published by Simon & Shuster (who published Quinn's last book) before starting his own publishing company?

Real Estate Money Machine is a quality book. All real investors know this and are using these techniques. Of course reporters who are only schooled in reporting (mostly gutter trash on successful business people) have no knowledge or real experience in real estate investing. So why would you even consider listening to a reporter?

If you want to be a gutter trash reporter, listen to Quinn. If you want to be a successful investor then listen to someone who has done it----WADE COOK.

It worked for me. It's working for everybodyelse and it will work for you too, but only if you try it.

Good luck!