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Rich Dad's Advisors: The Advanced Guide to Real Estate Investing: How to Identify the Hottest Markets and Secure the Best Deals Paperback – May 29, 2008

4.1 out of 5 stars 33 customer reviews

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About the Author

See important note #3.

Product Details

  • Series: Rich Dad's Advisors
  • Paperback: 176 pages
  • Publisher: Business Plus (May 29, 2008)
  • Language: English
  • ISBN-10: 0446538329
  • ISBN-13: 978-0446538329
  • Product Dimensions: 6 x 0.5 x 9 inches
  • Shipping Weight: 8 ounces
  • Average Customer Review: 4.1 out of 5 stars  See all reviews (33 customer reviews)
  • Amazon Best Sellers Rank: #392,137 in Books (See Top 100 in Books)

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
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-
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

Top Customer Reviews

Format: Paperback Verified Purchase
I have never written a book review before but after paying for and reading this I am so disappointed that I am going to. The vast majority of the book is consumed by the author trying to justify why investing in real estate is a good investment. Why would one buy and "Advanced Guide to Real Estate" if one didn't already think it was a good investment? I think he's just trying to fill up pages so that the book appears to have relevant content. What little advice exists is vague like "do your homework" and "talk with a broker to get the market cap rate." When talking about how to identify a good market he points out his "successful" investment in Las Vegas purchased immediately before the crash. The only interesting part of the book, his analysis of what he thinks are going to be the top ten real estate markets is from 2008 and obviously quite outdated.
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Format: Paperback
I came across this book at Barnes & Nobles and since it was under the Rich Dad banner I gave it a shot. I liked the section of dispelling the myths of investing in multifamily units, i.e. "you gotta start small", and "you need the Midas Touch".
The author discusses several projects that he has worked on and breaks down the process into several key steps.
Truthfully, it's not a "be all, end all" book for apartment investing, but I liked the fact that he explained his methodlogy in a simple, easy to digest fashion.
I invest heavily in single family residences and tri/quad-plexes, since the rental market is hot(smokin' like Texas BBQ) and sellers are deeding me houses at a rate of 5 per week. Apartment buying in this market AND for the forseeable future is going to be the next big thing.
You need to seriously educate yourself about this subject.
2 Comments 29 of 35 people found this helpful. Was this review helpful to you? Yes No Sending feedback...
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Format: Paperback Verified Purchase
Hey you! (zooms in from L.A. mansion panoramic view with Ferrari on the drive way) Want to be a millionaire? All you need is your own construction company, tons of previous real estate experience and very rich friends!

This short book spends all of its energy selling you some pulpy dream of 700% ROI and owning 5432534 unit apartment complexes and very little teaching you anything about real estate. If anything this book does have value as an investor, strictly as a view into the psychology of bubble era hubris.

First off, as many others have pointed out, the first third of the book is a sales pitch for investing in real estate. That goes in the beginner book, not the advanced. I'm looking for specific, and probably boring information on how to structure and analyze deals. If I bought the adavanced, chances are I've already convinced myself that real estate is a decent investment and done some research.

The second third of the book goes straight into two examples of multi million dollar several hundred unit apartment complexes. WOAH. That got advanced pretty fast. His definition of advanced is not about the level of technical insight in the book, it's about how expensive the units are. He happily brags about how he saves cost by using his own construction company and finances his properties with Kiyosaki's money. Not very relevant to learning about acquiring smaller multi family units for us little investors.

The third section is chock full of useful info like: explaining what a property manager is and telling you to get an accountant and a lawyer. He doesn't even tell you how to pick good ones. he just kinda instructs you to find one. WTF?
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Format: Paperback Verified Purchase
The book of the week was The Advanced Guide to Real Estate Investing by Ken McElroy. I think I may have a slight obsession toward real estate books because no matter how many times I read them, I never get bored and I always pick up another tip or remind myself of one I may have forgotten. And... McElroy is one of my favorite authors on the subject. He gives it to the readers straight and concise. I appreciate a person that doesn't need to add a lot of fluff to their writings.

This week's book was, like last week's post, a sequel book. The first book the correlates to this book is The ABC's to Real Estate Investing. I reviewed it last July... let's look at the bulk of that post before we get started on this one:

"I know that after reading this book I could make six figures in the business of real estate investing in 5 years or less. The first step is exactly that: Making a goal for yourself. Tell yourself that you want to make more than $100,000 annually in 5 years in multi-unit real estate investing. The goal you set for yourself has to measurable- "over $100,000", Time based- "5 years", and specific- "multi-unit real estate investing."

And now that you have your goal, it is time to hit the ground running. You will need to find a team because great things are seldom done alone. You will want a lawyer, accountant, engineer, etc. People that you can turn to and ask questions when they arise during your research. Another great thing about having a team to help you with your real estate dreams is you have people to keep you accountable. If you have ever worked out.. weight-lifting, running, or biking. You know it is so much easier to succeed when you have a partner to help you through.

You will then have to go out and find your ideal real estate.
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