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Rich Dad's Advisors: The Advanced Guide to Real Estate Investing: How to Identify the Hottest Markets and Secure the Best Deals Paperback – May 29, 2008
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Top Customer Reviews
This short book spends all of its energy selling you some pulpy dream of 700% ROI and owning 5432534 unit apartment complexes and very little teaching you anything about real estate. If anything this book does have value as an investor, strictly as a view into the psychology of bubble era hubris.
First off, as many others have pointed out, the first third of the book is a sales pitch for investing in real estate. That goes in the beginner book, not the advanced. I'm looking for specific, and probably boring information on how to structure and analyze deals. If I bought the adavanced, chances are I've already convinced myself that real estate is a decent investment and done some research.
The second third of the book goes straight into two examples of multi million dollar several hundred unit apartment complexes. WOAH. That got advanced pretty fast. His definition of advanced is not about the level of technical insight in the book, it's about how expensive the units are. He happily brags about how he saves cost by using his own construction company and finances his properties with Kiyosaki's money. Not very relevant to learning about acquiring smaller multi family units for us little investors.
The third section is chock full of useful info like: explaining what a property manager is and telling you to get an accountant and a lawyer. He doesn't even tell you how to pick good ones. he just kinda instructs you to find one. WTF?Read more ›
The author discusses several projects that he has worked on and breaks down the process into several key steps.
Truthfully, it's not a "be all, end all" book for apartment investing, but I liked the fact that he explained his methodlogy in a simple, easy to digest fashion.
I invest heavily in single family residences and tri/quad-plexes, since the rental market is hot(smokin' like Texas BBQ) and sellers are deeding me houses at a rate of 5 per week. Apartment buying in this market AND for the forseeable future is going to be the next big thing.
You need to seriously educate yourself about this subject.
This week's book was, like last week's post, a sequel book. The first book the correlates to this book is The ABC's to Real Estate Investing. I reviewed it last July... let's look at the bulk of that post before we get started on this one:
"I know that after reading this book I could make six figures in the business of real estate investing in 5 years or less. The first step is exactly that: Making a goal for yourself. Tell yourself that you want to make more than $100,000 annually in 5 years in multi-unit real estate investing. The goal you set for yourself has to measurable- "over $100,000", Time based- "5 years", and specific- "multi-unit real estate investing."
And now that you have your goal, it is time to hit the ground running. You will need to find a team because great things are seldom done alone. You will want a lawyer, accountant, engineer, etc. People that you can turn to and ask questions when they arise during your research. Another great thing about having a team to help you with your real estate dreams is you have people to keep you accountable. If you have ever worked out.. weight-lifting, running, or biking. You know it is so much easier to succeed when you have a partner to help you through.
You will then have to go out and find your ideal real estate.Read more ›
Most Recent Customer Reviews
This is an interesting book. Make a Longaberger type basket! The shipper did a great job shipping!Published 14 months ago by Patricia Dashti
This is another great book in the Rich Dad's Advisors series. Anyone who has an interest in real estate investing must read this book.Published 20 months ago by John Stevenson
You can't go wrong when it comes to real estate investing. I would sign up in a heartbeat if he himself would have a seminar.Published 23 months ago by Joseph A. Rivera