Rich Dad's Real Estate Advantages: Tax and Legal Secrets of Successful Real Estate Investors (Paperback)

by Sharon L. Lechter (Author), Garrett Sutton (Author)
Key Phrases: old property, purple duplex, earnest monies, New Property, United States, Social Security (more...)

Editorial Reviews

Product Description
Real Estate Advantages is for first-time as well as seasonedreal estate investors.It reveals the tax and legal loopholes availableand most important, how they can be used together to not only maximize yourincome--but accelerate your income from real estate investing.SharonLechter and Rich Dad's Advisor Garrett Sutton team up for the first time todeliver practical, proven strategies and formulas--from the perspective ofsuccessful investors, CPAs and asset protection attorneys--for acheivingthe greatest leverage from real estate investing.Written ineasy-to-understand language, this book de-mystifies the legal and taxaspects of investing with easy-to-follow, real life examples. Real EstateAdvantages reveals how you can find good advisors, create steady monthlyincome, reduce your risk, pay less in taxes, make more money with yourbanker's money and, best of all, the government helps you! --This text refers to the Audio CD edition.

About the Author
Garrett Sutton is an attorney with over 20 years experience in assisting individuals and businesses to determine the most appropriate structures to limit liability, protect their assets and advance their personal and financial goals

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Product Details

• Paperback: 288 pages
• Publisher: Business Plus (November 14, 2006)
• Language: English
• ISBN-10: 0446694118
• ISBN-13: 978-0446694117
• Product Dimensions: 8.8 x 5.9 x 0.9 inches
• Shipping Weight: 11.2 ounces (View shipping rates and policies)
• Average Customer Review: 4.7 out of 5 stars See all reviews (23 customer reviews)
• Amazon.com Sales Rank: #12,440 in Books (See Bestsellers in Books)

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Customer Reviews

Most Helpful Customer Reviews

32 of 34 people found the following review helpful:

5.0 out of 5 stars Smarter Investing using Tax Free Advantages, November 24, 2006

By	Barry L. Wilmeth (Aiea, HI USA) - See all my reviews (REAL NAME)

This book is designed to help you develop a smarter real estate acquisition plan. It shows how you can look hard at your assets and liabilities and develop a leverage plan for purchases and a tax advantage plan to maximize your cash flow. There is some good advice on networking, mentoring, joining a local real estate club and building a team of advisors. The explanation of tax strategies, depreciation and insurance is not as strong or in depth as I'd liked to have read. However the chapters on tax-free exchanges are very enlightening; especially to those of who have read about it but have been afraid to do a 1031. The book also offers other good advice on homestead advantages and responsibilities for legal due diligence. The strength of the book for me, and probably most other investors who have less than 10 properties, is (1) the advice on asset protection; e.g. use of a Limited Liability Corporation, and (2) smart use of the tax-free advantages in 1031 exchanges. I strolgy recommend it for those who have a few properties and are ready to make a bigger bolder move in real estate investing.

17 of 20 people found the following review helpful:

4.0 out of 5 stars Lots and lots of info, November 27, 2006

By	armchairinterviews.com (Minnesota) - See all my reviews

(Available in both book and audio--reviewed as an audio)

Whether you are new to real estate investing, or a seasoned real estate investor looking to maximize your returns, Rich Dad's Real Estate Advantages has something for you.

Beginning with very basic real estate investment tactics such as the 1031 exchange and increasing buying power with the bank's money, and gaining in complexity to taking advantage of tax code and decreasing legal risk, this book continues the tradition of good advice the Rich Dad system is known for.

The audio book version is read by Garrett Sutton, ESQ, one of the authors, with a forward by Robert Kiyosaki (the Rich Dad guru) and Sharon L. Lechter, CPA. The audio is of fine quality with no variation in sound level and Sutton reads it flawlessly. The CDs, whether intentionally or not, also seem to be broken into the three components of the book: introductory real estate investing, tax strategies, and legal strategies, so it would be relatively easy to re-listen to specific sections.

I would say that this book is so full of information that I felt I should be taking notes. Probably, listening multiple times would suffice, but many investors would like to reference specific sections and may prefer the hard copy rather than the audio. Someone just beginning, especially someone who commutes and can listen daily, will see the advantage of information repeat that the audio provides.

Armchair Interviews says: A good book--but this audio format won't be appropriate for everyone.

8 of 9 people found the following review helpful:

5.0 out of 5 stars The First Book to Truly Teach Real Estate Method, November 15, 2007

By	George C. Targonski (Sayreville, NJ) - See all my reviews (REAL NAME)

This book does for real estate investing what Pimsleur does for language learning: it teaches you to speak the real estate language, to ask knowledgeable questions, and to make informed decisions.

I have been through dozens of books, tapes, and CD programs on investing in real estate. Some are strictly motivational with little useful information. Others are like reference works and cannot be read from beginning to end. Still others hope to be meaningful forever and so dare not give you anything too current, or disputable and likely to change. Lechter and Sutton, however, wrote a book to turn a dreamer into a real estate investor. If that's what you still want at the end - but you have all the info to make the decision. Other reviewers might say that there are no "secrets" in this book - true, I suppose - but if YOU don't have a tutor for the subject, then for YOU common knowledge is a secret!

The authors give separate advice for dealing with primary residence and for investment properties. Most other books blur these separate cases. Special cases where individual state law might differ from the general situations are pointed out. Case studies and repetition are used throughout - much like Pimsleur uses conversation in each language lesson. The reader brings everything learned earlier to each case, but is stretched just a bit to see why each case is unique. Each chapter builds on prior chapters. Included is the required amount of math, but this is clearly not a math book. On the contrary, it is an enjoyable read cover-to-cover. Some of the material is current as of 2006 and this is clearly noted. I hope this book gets updated every few years.

While technically part of the Rich Dad series, the book stands on its own. The reader is fully aware of the few tacked-on references to the Rich Dad philosophy.

This book is a must-read for anyone thinking about a career in real estate investing in all its forms. Consider it the second book you read - after something like "Home Buying for Dummies."