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2 Years to a Million in Real Estate Paperback – May 12, 2006
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“This is the success story of an ex-dot-com employee who got tired of working long hours at a great job for 10 years and watching his fellow workers lose their jobs. He accidentally discovered real estate's market-value appreciation, leverage, tax savings, cash flow, reliability and freedom from a 9-to-5 workday. In the process, he became a multimillionaire, and he shows readers how they can have the same result.”(Bruss, Robert J. San Francisco Chronicle. 2006-12-08)
From the Back Cover
Quit your day job!
Make a million in real estate!
It's easier than you think!
A few years ago, Matthew Martinez was a lot like you - he worked hard to make as big a salary as he could. But it wasn't enough. He worked by the clock, and yearned to be his own boss. With a small amount of savings, he acquired his first rental property. Two years later, he was making more from his rentals than he was working 9 to 5, so he quit his day job to oversee his real estate investments. Today, he enjoys a multi-million-dollar collection of income-producing properties--and he's ready to share his money-making strategies so you can begin your own journey to career and financial independence.
Two Years to a Million in Real Estateshows you everything you need to know, including how to
- Invest small amounts early-on while working a full-time job
- Avoid real estate “bubble” risks
- Get others to pay your mortgage for you
- Pick a hot property (and spot others that will become hot)
- Simplify the ins-and-outs of financing
- Negotiate like a pro
- Screen for reliable tenants
- Understand how local tenant laws work
- Hire good people to manage your properties
- Know when to sell
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Top Customer Reviews
Martinez also briefly describes how to effectively manage income producing properties. While not entirely out of date, I found the material to be extremely general and with no real substance for someone who is actually trying to be a landlord.
Don't be fooled by the title. If you are interested in spending your hard earned money and valuable time getting into rental properties, look for books with more substance and more current information.
On the plus side, it is a quick read, has some inspirational quotes and hidden amongst the fluff are a very few interesting tips. Pick it up at the library if you are still interested.
I think the main thing I have come to realize from reading his book is that cashflow is king. Building a million dollars in equity really is not the point. Receiving a nice monthly cashflow stream from buying the right properties is what it is about. After I read his book I started evaluating certain investment markets which showed me that you can realistically have probably $50k- $200k to put down and be able to cashflow $1k- $4k a month, which I personally would consider a pretty nice start. And if you're worth a million and own the right cashflowing properties? Well, I'll be writing a book like Matthew at that point!
His principle is based on leverage and using OPM (other peoples money). To the skeptic and beginners the last sentence might read something like "His principles are based on taking HUGE RISKS" but this is not true. All successful real estate investors use significant leverage. But the key, which he explains is having the knowledge. Risk, is therefore, simply having a lack of knowledge on the subject and Matt is the bridge maker who will close the gap for you.
The great thing about this book is that it is "Fluff Free". Matt does not just give you a basic principle and then follow with zero detail (which is a major criticism of the great Robert Kiyosaki books). Instead, all 182 pages are packed full of "need to know" information. There are even several appendixes after the 182 pages that give you quotes, further suggested readings, and samples of letters/forms you will need in your own real estate business. I took notes the entire time I read this book and ended up with 20 pages in Microsoft Word, this book is the real deal.
One last word. Undoubtedly, like anything in the world there will always be a few skeptics. Scattered throughout all of the positive feedback on Amazon you will see a comment or two of criticism, do not let this scare you. Everyone has heard the old cliché, "misery loves company" so don't fall for into these people's traps. If you take the time to read this book and take action on what you have learned success will be inevitable.
The book is easy to read and I like the way points are summarized at the end of each chapter. I'm just concerned that someone whose advice is based upon an experience gained during very favorable housing market conditions might not hold up under tougher times.
Most Recent Customer Reviews
Haven't gotten far into the book yet, but what I read so far is good.Published 29 days ago by Philip C.
This book was well written and was delivered from a perspective of experience. I like how the author broke down the content into meaningful sections and then gave a follow-up... Read morePublished 3 months ago by Jared Ford
While a lot of the information is out of date, this book does have some great information that can be adapted with a little effort. Read morePublished 9 months ago by Amazon Customer
Great book for anyone seriously considering entering the real estate market. Briefly touches up on the key issues for anyone's success and opens the door for further reading and... Read morePublished 16 months ago by Kevin Saa
Simple and to the point. Answers a lot of questions I've been asking regarding real estate investing. Read morePublished 18 months ago by Lyle Burks