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Rich Dad's Advisors®: The ABC's of Real Estate Investing: The Secrets of Finding Hidden Profits Most Investors Miss (Rich Dad's Advisors Series) Paperback – September 1, 2004

ISBN-13: 978-0446691840 ISBN-10: 0446691844 Edition: 1st Warner Books Printing

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Product Details

  • Series: Rich Dad's Advisors Series
  • Paperback: 224 pages
  • Publisher: Business Plus; 1st Warner Books Printing edition (September 1, 2004)
  • Language: English
  • ISBN-10: 0446691844
  • ISBN-13: 978-0446691840
  • Product Dimensions: 6 x 0.6 x 9 inches
  • Shipping Weight: 10.4 ounces
  • Average Customer Review: 4.2 out of 5 stars  See all reviews (162 customer reviews)
  • Amazon Best Sellers Rank: #296,900 in Books (See Top 100 in Books)

Editorial Reviews

About the Author

Ken McElroy, CEO of MC Management, has over 20 years of real estate experience with 4300 units under construction and management.

From AudioFile

An excellent example of the helpful financial audios produced by Robert Kiyosaki's Rich Dad company, Garrett Sutton's can-do lesson is an excellent lesson on how to rise above debt. He provides a largely sympathetic lesson on why people dig such holes for themselves and why creditors let them. The information is nicely condensed and includes illustrations that people at all intellectual levels will connect with. The writing and the matter-of-fact reading are proactive--he doesn't celebrate or condemn anyone's goofy money decisions. Know yourself, get your attitudes and behavior under control, and then use the author's formulas and action steps to wrestle your credit report, account by account, back into something respectable. T.W. © AudioFile 2005, Portland, Maine-- Copyright © AudioFile, Portland, Maine --This text refers to an out of print or unavailable edition of this title.

More About the Author

Ken is the author of the best selling books The ABC's of Real Estate Investing,
The Advanced Guide to Real Estate Investing and The ABC's of Property
Management. He is also a contributor for The Real Book of Real Estate. The idea
behind Ken's fourth book, The Sleeping Giant, is to help inspire people to believe
that they can be part of solving the world's economic problems by creating
business - which in turn create financial freedom, job growth and reduces the
reliance on other sources.
The Sleeping Giant, brings together twenty self-employed entrepreneurs who
share their powerful and inspiring stories of how they found success through
self-employment. This book and its success led Ken to embark on another
journey where he held a nationwide contest via Facebook asking people "Are You
The Next Million Dollar Entrepreneur?" By submitting their ideas and passions for
their businesses, one lucky person received $5000 towards their venture and a
year long mentoring program with Ken and many other highly successful
individuals. "I'm very fortunate to have the life I do and being able to share my
experience and insight is exciting and something I really enjoy spending my time
doing"
Ken is an active member of the Entrepreneurs Organization, the Young
Presidents Organization and the Arizona Chapter of Entrepreneurs Organization
holding several board positions including President for the fiscal year of 2004-
2005.
Ken has enjoyed inspiring people worldwide appearing and speaking for various
programs and leading industry events and has also been featured on hundreds
of syndicated radio and TV programs as well as speaking with and writing articles
for many industry blogs.
Charity being a large part of Ken's focus, he stays closely involved within the
community and has served on advisory boards for Child Help and AZ Food
Banks- where he conducted the largest food drive in the state of Arizona. Ken
and MC Companies also support the Cystic Fibrosis Foundation, Hydrocephalus
Association, The University of Arizona Heath Sciences Center, The Leukemia &
Lymphoma Society, Salpointe Catholic High School, Susan G. Komen for the
Cure, Autism Speaks, McKenzie Monks Foundation, and the Partnership for a
Drug-Free America.
Ken and his family reside in Scottsdale, Arizona and enjoy spending time with
friends and family in Coeur d'Alene Idaho whenever possible.

Customer Reviews

Easy to read and understand.
David M. Patterson
I would highly recommend it to anyone that is serious about investing in real estate.
E. L. Riley
The ABC's of Real Estate Investing mades a great addition to Real Estate Riches.
Chuck Kimbriel

Most Helpful Customer Reviews

118 of 122 people found the following review helpful By Coach 62 on September 26, 2005
Format: Audio CD
I have been investing in RE for over 20 years and I have read a lot of books. This one is the best so far and I would say it is a must read.

This book is not a Carlton Sheets (et al) get rich quick balogna book. This is a book for serious RE investors.

If you want to flip properties, this book is not for you. If you want to buy and hold properties, this is by far the best book I have ever read.

The most value of this book is how to properly assess value of a property. Assessing the value of a property is probably the most difficult thing. Not only does he teach you how to do this, he teaches you how to see through the sellers inflated balance sheets and possible misleading Realtor statements.

Also of tremendous value is how to properly manage properties for maximum cashflow. I had no idea I had so much to learn in this area.

What more can I say? Just get the book. I got the audio book and I listened to it at least 4 times.
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169 of 179 people found the following review helpful By Richie Rich on January 24, 2005
Format: Paperback
My expectations were low at first. I've heard so many people bashing GURUs on the subject of investing in RE and thought I'd hear the same advice. I couldn't have been more WRONG!

Ken McElroy, takes the time to explain all the tools you will need in order to be successful in RE investing. The thing I found most helpful is the end of the chapter To Do List. Have you ever read a chapter and moved on to the next chapter without an action plan...Not in this book!

McElroy talks about the things that made him a success as well as a recommended path for you to be successful. He doesn't cover flipping properties. When he does mention Flipping Properties, he advises against it.

I would recommend this book to the beginner and intermediate investor. For 2 reasons, this book will move you into the doing stage of your investing career with its action plan. Secondly, there is no fluff here. He gives you fact after fact.
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102 of 113 people found the following review helpful By Chuck Kimbriel on September 7, 2004
Format: Audio CD
What I like most about the Rich Dad Advisor series is the lack of fluff and that the information is from actual experienced real estate investors like Ken McElroy. Many people who write books and/or conduct seminars have little if any in the trenches real life real estate investing experience.

What makes this program different are a number of things. McElroy shows how to calculate the right price for your property. He explains how to use comps and how to avoid the wrong properties.

McElroy goes into the mathematics of real estate investing more so than any other author.

The ABC's of Real Estate Investing mades a great addition to Real Estate Riches. In concert, these programs will help you achieve financial freedom via real estate.
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40 of 42 people found the following review helpful By Michael on July 27, 2006
Format: Paperback
First, I was a bit skeptical because although I really liked the Rich Dad series, I thought it was extremely light in the "how" department. Everything he said made sense, but how do I do it? Well the ABC's of Real Estate Investing will take it to the next step and tell you how.

I listened to the audio book version but I'm sure I'll buy the regular book as well because there is just so much information in this book, especially the checklists. Ok, so why is this book great? Because it's written by someone who actually did all this stuff and is successful. He uses real examples from properties he's owned in the Phoenix area. I lived in this area for 9 years, and I can say everything he said about it made a lot of sense. You don't need to be from Phoenix, I'm just saying that I think the author really knows his stuff.

ATTENTION! Here is a one thing you may or may not like (judging from other reviews): This book uses multi-family (apartment buildings) in all the examples. They cost millions. So although on one hand he makes it sound easy enough that I could do it, I'm not comfortable going after a two million dollar property for my first one! HOWEVER, I think everything he said would apply to an individual family home as well. This didn't bother me at all, and if I ever get a chance at a multi-family unit I'll have more confidence to do it.

If you listen to the audio book, the author reads it himself. Something I really enjoy. I don't like some guy reading as fast as he can, Ken McElroy reads it as if he's sitting next to you telling you face to face. While some of the phrases sound a bit corny or even fake, "Now we don't want any surprises do we?", I think it gives his reading a bit of charm.

Overall, not the only book you need but definitely one of the best I've seen. Great job Ken! Now if only the original Rich Dad series was this good! ;)
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73 of 81 people found the following review helpful By M. Sharma on May 12, 2007
Format: Paperback Verified Purchase
The content of this book mainly deals with buying apartment buildings. Although this is a profitable way to invest in real estate, it is not a book for beginners. The author talks about how he and his company search many locals across the country in finding good deals. This does not apply to the new or relatively new investor who doesn't have the time or resources to search the country. Most new investors start with single family homes in their own neighborhood, and this book competely glosses over this starting point.
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25 of 26 people found the following review helpful By Matt Bresee on January 27, 2007
Format: Paperback
Here's my book review on this real estate book.

PROS:

This book addresses two main myths that people have about real estate.

1. One is, since you don't have that much money, you shouldn't invest in real estate. Though this book doesn't cover how to finance your investments, it does name a few examples of how a few people who didn't have money managed to invest in real estate to make their millions.

2. The second myth is how big deals are too risky so don't go after them. The book gives an example of other people doing it.

The fact of the matter is, if you don't have much money, you'll either need to get some capital by borrowing or partnering. And when you face big deals, the risks are heavier but also the rewards are multiplied.

CONS:

1. In the end, this book covers real estate pros (but hardly any cons). So it is motivating but unbalanced. Care and risk management should always be part of your investment strategies.

-Matt

Illustrator for the Ultimate Foreclosure Kit

(ISBN 0978834658)
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