Customer Reviews

The WealthLoop Series Beginner's Guide to Building Wealth Buying Houses: The Foolproof Roadmap to Real Estate Riches Without the Risks and Hassles of Landlording

5 star:		(12)
4 star:		(5)
3 star:		(1)
2 star:		(0)
1 star:		(0)

 

 

Michailidis is an attorney and real estate broker. A background like that almost assures you an interesting view of things. The author goes to great lengths to explain the difference between working for a living (either for someone else or yourself), risking money by speculating (stocks, bonds, etc) and investing (building a steady flow of cash not dependent on your continued labor, etc).
He provides a nice, steady and logical step-by-step guide on how to make money on real estate. He doesn't attempt to mislead you into believing this is easy money la-la-land, and his chapter on home buying hazzards alone justifies the price of the book.
If you have any interest in trying to make some dough by buying houses, check this one out.

I read this book cover to cover in a single day. I could not put it down.

Author takes a difficult process and makes it so incredibly simple. Obviously there is homework involved, but even that is laid out for you in an easy to follow process. I can see real evidence of the author's e-myth style of setting up process and making the system do the work for you.

If you are looking to start investing in real estate, like we are, this is both the push we needed to jump in and the safety net of someone else's experience rolled into one.

I've spent thousands of dollars on Guru programs and books. All of these promised real estate investing success. I just got more and more confused. I am so happy I stumbled on to this book. It gives the beginning investor clear understanding of what it takes to succeed, using the WealthLoop System. The wealthLoop System contained in the book, gives the investor a simple path to follow and a sustainable wealth creation strategy. It tells you HOW to go about the Lease-purchase process from getting started, to finding the right property, to how to negotiate and find tenant prospects. I feel so much better about my decision to invest in real estate and more confident in my capability to do lease-purchase deals. Get this book. You'll be glad you did.

I like this book alot.

The general overview was a bit long for me. While I think the author has makes valid point regarding the value of income streams, I found some put downs of traditional methods of investing off putting.

That said the coverage of finding and buying a home is great. The part on getting renters is also good, but some advice on how to do credit and background checks would have been helpful. The example was very good as well. The parts on how to handle the back end of the transactions and how handle the money put aside for the buyer/renter are missing....

Thats my biggest criticism. Its almost as though the author doesn't expect the buyer/renter to ever purchase the home (I don't really believe this based on his comments in the discussions, but based just on the book). I say this because the author implies that you can use the down payments to finance subsequent purchases. That would be fine, if there was some detail around how to do this and still have the buyers money for the purchase.
I also think that there should have been a recommendation for a lender to evaluate the back end of the deal and the renter to see if the end purchase is realistic.

Again, despite my criticisms, I still recommend buying this book. I'm strongly leaning toward this method of investment but don't think its a complete system. I'm now looking for another book that has detail this one is missing.

Don't let my title fool you, i thoroughly enjoyed this book in fact, i usually never write these reviews but felt i should share this with others as I've read every review before purchasing the book.

This is a very "easy" read, probably the fastest book that i remember completing. I loved how the author got very detailed into how to conduct the transaction from beginning to end. The only issue i found was that I personally do not live in an area where a "nice home in a nice neighborhood" costs under 200K. I didn't see the author provide any direction to this issue if this was the case for the investor. I also had a hard time navigating the website they mentioned at the end of the book and couldn't find how to order the forms from the CD online.

Still a great book and a must read !!!

This is an excellent book for beginning - and even seasoned - investors.
I've been a real estate broker for 29 years and know a thing or two about real estate investing. I try to keep abreast of all new books that come out on the subject.
Most real estate books are complicated, full of formulas and lots of theory. Some are so dull you can't get through the first couple of chapters. The author of this book writes in a very easy-to-read, conversational style.
I found the investing method in this book to be sound and easy to implement. It's not about making a million bucks in a couple of months like so many other books on the market today. It's a very safe, low- risk system that can slowly but surely lead to wealth. In my opinion it is a great way to invest a portion of one's IRA or pension plan - in real estate instead of just stocks.
If you are new to the world of real estate investing, I would certainly recommend making this your first book on the subject.

This book walks you through the process of rent to own. The author is very genuine and makes practical sense. I couldn't wait to get my hands on it and read it cover to cover the day it arrived. Bonus points, he gives you all the necessary documentation including the lease. I searched internet for guidance in the same arena and there are people who charge 250 $ for similar advice. Buy it even if you are a pro in real estate.

Love the style, clear and logical with easy to understand 'reality check' examples. In the back of the book you'll find everything you need to get started; a property evaluation check list, how to present an offer, questionnaires for screening potential tenants, and legal forms such as lease agreements. A great 'how to' book!

Using a simple and step by step explanation, this book describes how to to earn income on real estate while eliminating the risks that are usually connected to such an undertaking. The premise is basic - everyone wants to own their own home. Using this as the basic premise, along with the outlined system, you can actually transform a "renter" into a "buyer". You can generate income for yourself while simutaneously allowing your tenant to realize his dream of home ownership. A true win-win situation.

Seem too good to be true? Buy the book.

Real estate broker, licensing instructor, and investor John A. Michailidis presents Beginner's Guide to Building Wealth Buying Houses: The Foolproof Roadmap to Real Estate Riches Without the Risks and Hassles of Landlording, a straight-talk guide to amassing a personal fortune through real estate assets. Defining wealth as "automatic income streams that are independent of your personal labor, and that are sufficient to maintain your chosen individual lifestyle indefinitely," Beginner's Guide to Building Wealth Buying Houses proves especially valuable to readers who are relatively new to real estate. While buying properties with intent to turn them around and resell them - "flipping" - is covered, Michailidis stresses that this form of real estate investment requires expert-level knowledge of local market conditions, and that and ordinary people can easily get burned. Instead, the primary focus is on how to acquire properties and use them to generate revenue streams through renting, or better yet, rent-to-own arrangements. Houses are recommended for beginners since they tend to attract more stable and reliable tenants than apartments. Chapters cover the economics of single-family houses, the right way to present offers, how to attract quality tenants, proven negotiation tactics, and much more. An absolute "must-read" for any prospective real estate investor, as well as anyone who dreams of becoming financially successful and secure.