Income for Life-From Real Estate: How the Tortoise Got Rich with CDROM (Paperback)

by Al Lee (Author), Holly Roomiani (Illustrator) "To put all I say in this book into perspective I should first define the objectives and the assumptions I make about you, the investor..." (more)
Key Phrases: Good Faith Estimate, Cash Recovery, Social Security (more...)

Product Details

• Paperback: 174 pages
• Publisher: Al Lee & Associates (September 2001)
• Language: English
• ISBN-10: 097117380X
• ISBN-13: 978-0971173804
• Product Dimensions: 10.9 x 8.4 x 0.5 inches
• Shipping Weight: 1.2 pounds (View shipping rates and policies)
• Average Customer Review: 4.4 out of 5 stars See all reviews (20 customer reviews)
• Amazon.com Sales Rank: #572,960 in Books (See Bestsellers in Books)

Customer Reviews

Most Helpful Customer Reviews

21 of 22 people found the following review helpful:

5.0 out of 5 stars Don't You Get It?, August 4, 2002

By	[e-mail] "Al Lee" (Dallas) - See all my reviews

[Another reviewer] doesn't get it! This book is about INVESTING, not LANDLORDING or MANAGING. The difference is that investing is essentially passive, while the others are really a job which requires you to live near your "investments" and to become expert at their many nuances. True investing uses hired experts to do the work, freeing you to pursue your normal life. Your wealth builds without requiring you to work. If you move, or retire, or become sick or disabled, or just take a long trip, all of your investments continue unaffected. Twenty years ago investing in income property was mostly landlording and managing properties and tenants. The advent of true professional management, with its own professional organizations, certifications, and code of ethics has opened the door for Al Lee's method of investing.

Also, this book includes the most comprehensive evaluation criteria (including computerized tools to help you) of properties available anywhere. The evaluation is based on objective financial criteria (as it should be for an investment), not some subjective feeling that you are "getting a good deal".

19 of 20 people found the following review helpful:

5.0 out of 5 stars It's About Investing--NOT Landlording, August 3, 2002

By	BeachBoysFan (California) - See all my reviews

This book gives a very realistic method for investing in income property. It teaches you to be an investor, not a landlord! If you've ever tried being a landlord and dealing with the problems, the tenants, bad checks, and so forth, you will definitely appreciate the superiority of Al Lee's method. I have tried both ways now and I KNOW!
Dealing with good professional property managers (PPM's) is definitely the way to go. I could go an a 3-month trip to Australia if I wanted to (I do!) and everything will run just as well as if I were home. When I did not use PPM's I was tied to a "job" dealing with trivial issues and (worst) tenants.
If you buy stock in GM you don't have to become an expert at labor-management relations, or welding, or even selling cars--you are an INVESTOR. Al's method of owning income properties teaches you to be a true investor; literaly anyone ought to be able to do it.
There are plenty of books on how to be a landlord. If you want to learn a new "job", read them. Having been there, I prefer being an investor and this book is the one that taught me how. I've even joined Al's investor club at RentHouses org and own properties a thousand miles from where I live.

10 of 10 people found the following review helpful:

5.0 out of 5 stars Great Book! Easy to read and easy to follow!, February 23, 2003

By	"jaimehernandez2000" (Dallas, TX United States) - See all my reviews

This a great book on investing in income producing real estate. It focuses on three areas of why real estate investing makes sense:
a) cash flow from annually increasing rents
b) tax savings through depreciation of the property and
c) equity gain by the renter paying down the loan.

No other real estate books I have read have explained these concepts this thoroughly (and believe me I have read a lot of r.e. books!) with real world examples and hard numbers.

This book is not about get-rich quick schemes. We've all seen these claims: "Quit your job in 2 months!", "Buy homes with no money down!", etc.

If you are looking for something like that, try a different book. This book is about growing wealth over time. Just like the title says "Income for Life"...