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How to Make Million$ in Real Estate in Three Years Starting with No Cash, Third Edition Paperback – June 1, 2000
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About the Author
Tyler G. Hicks is president of International Wealth Success, Inc., as well as a consultant to real estate wealth-builders throughout the world. He has written dozens of books on real estate investing, including How to Make Big Money in Real Estate in the 21st Century (Prentice Hall Press). He lives in Rockville Centre, New York.
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Top Customer Reviews
The "author" Tyler Hicks is the type of guy who would have been a snake oil saleman in the old days. A charlatan who cons people out of their hard earned money by pretending to have something of value to them. Just the way he keeps trying to get you to trust him by calling you "good friend," is creepy. It is written for morons who will think "Wow! Tyler must really like me! He would never mislead me!" He even makes the offer: If you subscribe to my newletter for 2 years, I will happily lend you money to finance your deals, or give you a list of lenders. Hmm. I wonder which one he will choose to do.
I challenge any of the "reviewers" who liked it to mention anything useful from the book. Quote Tyler Hicks or just put it in your own words, oh and don't forget to mention what page it can be found on. No one will be able to do this. There is nothing useful in this "book." The negative reviewers are "jealous" or "lazy"? Hah! I admit one thing: you guys are good at spinning it to make it look like the honest reviewers are the ones who are full of crap. Rather than attack them or call them names, why not mention something useful you learned in the book and what page it can be found on? Your reviews are as empty as the book. Who are you, the publisher? the author? his brother? And please stop opening new Amazon accounts and voting over and over again for the favorable reviews to bump them to the top. Pathetic.
The only positive thing about the book is how it made me laugh at some of the ridiculous "advice." For example: Chapter 7 - Make Residential Properties Your Wealth Source, pages 124 -126 gives us such gems as this... You find a 10-year-old 50-family building for sale for $750,000. The owner clearly has at least 20% equity, and is netting at least $62,000 a year from it. Unfortunately for him, but fortunately for you, he dies. His estate lawyer puts it up for sale for $150,000 down. You make the more than generous offer of nothing down. He is forced to accept, almost begging you not to force him to come down even more. In other words: You find a large, young apartment building in great condition, which generates good income, being dumped for a ridiculously low price. Mysteriously, no one else wants to buy it. Apparenty you are the only person other than Tyler who ever thought of the crazy idea of buying real estate. So you rake the seller over the coals until he agrees to finance 20% of it himself just to unload the money making machine that no one but you is willing to take off his hands. Yep, sounds realistic. Now I am ready to become a millionaire in 3 years.
In other places he lays out the plan for you to follow, which basically consists of: (I kid you not) Buy property cheap for no money down, sell it high for money down, use the proceeds to buy more property, etc. then in 3 years when you are a millionaire, spend your time vacationing on the beach. But he never actually tells you how to do any of it. He literally spends more time telling you to take vacations than covering any specific techniques for buying low, selling high, getting no cash down terms, etc. You just keep hoping he will eventually get to the nitty gritty. It never happens.
You can learn more about real estate for almost any other book, on any subject. I recommend any other book on real estate over this one.
Note: My wife just checked, and indeed, Borders has stopped selling this title! Unfortunately, Tyler will probably just rehash it again in another title.
Hicks doesn't really go into much greater detail, and when he does he offers tips and techniques that you'd have to be dumber than a stump to actually try. For example, when suggesting possible ways to find money to go into No Money Down Deals, he actually suggests taking out an ad in a newspaper and convincing some schmuck to take out a home equity loan on his own house, and then give YOU the proceeds of that loan. While there may be some people out there dumb enough to actually pledge their home as collateral and then give the money to someone they met through the newspaper, there probably aren't very many. And those who ARE that naive and gullible probably already own this book.
Real estate is a great investment vehicle and offers many business opportunities. Find another book. If it tells you that you can be a millionaire in no time flat and without work or investing your own money and you actually believe that . . . please send me $10,000 and I promise to be your personal wealth coach. I guarantee at least one of us will get rich. Good friend.
The author spends the whole time pretty much giving you a pep talk about just getting out and and making offers to people for a hundred percent plus in financing and while im not saying that you couldnt get that, I am saying that this book does not tell you anything that a little common sense wouldnt tell you. And common sense is free. Plus the whole book is like one big plug for the authors other businesses that hes trying to sell you. I felt like I paid money for an infomercial!!!! I dont know what book to recommend to you, dear reader, but this is NOT it.
Thanks for your time.