The Millionaire Real Estate Investor Paperback – April 7, 2005

Very good book, great advice and works on changing the mindset to think like an investor.

Good book

I am not really sure that 5 stars does this book justice. I have read numerous real estate investing and wealth building books over the years, but this book ranks right near the top of that list bar none. The book has incredible advice for not only investing in real estate but wealth building in general. I implemented several pieces of advice after reading this book and found it some of the best stuff I have ever done for my own wealth-building activities.He walks you through all aspects of investing in real estate and covers many areas that other writers completely leave out or gloss over at best. For example, he has a whole section on building the right team. Once I started doing this my investing activities soared.His teaching style in the book is phenomenal. He uses a variety of diagrams that illustrate his points with perfect clarity. The diagrams he uses to illustrate various principles are worth the price of the book alone, but there is so much more in the book in addition to that.I thought this was such an incredible book that I ordered a copy of the Audible version AFTER I read the physical copy because I knew that I missed stuff in the reading that once I heard it would reinforce the points in a way I might have missed the first time.If you are interested in wealth building and real estate investing this book should be the very first purchase you make.

Book is great, IMO, if you are new to investing, you are sitting on or about to sit on a lot of money, or dream about investing in real estate. Its great pep-talk material and the models and theories are the very basic to thinking like an investor. You could actually bypass paying for a real estate investment class with this book. However you are still going to need to network, and get in with people who are in the business.My personal experience:I got off to a great start and found a property priced well below market value. I used the worksheets in the book and everything looked great. In the end, lenders pretty much killed the deal because of my "Debt to Income" ratio. Even with the property 40% below market value, they didn't want to touch me, and I have excellent credit. Now figure this, even if I had enough income, another property would have certainly pushed my Debt to Income over and I would be done with getting more loans for buy and holds, for a long long time.Even with buy fix and sells, lenders want to see money in the bank. Even if you are getting that money back when the property sells, you still need to have it. This is most likely going to be the path you need to take when you first start out, and have little money. You can also buy a home, live in it, then rent it out. But again, you can only do that so many times before your debt to income catches up with you. Then comes the part of actually FINDING homes. Investors know how to do it, and they aren't excited to tell you how.Right now I am in networking mode. Its not easy as no one wants to trust a stranger. Esp a stranger with no money!

great book

I thoroughly enjoyed this book. It is packed with information regarding growing a real estate business.The strategies are realistic and very do-able for anyone who applies them.The end stories about investors who started out small and became millionaires was also a good read. I couldrelate to many of them with my own personal experiences buying real estate.Perhaps the largest take away I got from this book was that an investor has to have a large business modelfrom the beginning in order to have large success. For example, if a take home wage is 50k and you want tobuild a net worth of 5k in one year, you can have 10% taken out of your check and invested via a 401k.However, if a take home wage is 50k and you want to build a 50k net worth in the same time frame, you needa much larger business model.Real estate millionares have large business models.I have been in the trenches here in Michigan (land of the jobless great recession/depression) and I mustsay that there are some unbelievable real estate deals to be had. I intend on using the strategies fromthis book to continue building my real estate business.5 stars !!

Great read and so much valuable information. I'd highly recommend this to anyone who's interested in real estate investing or even to just improve their financial health. I normally fall asleep when I read in general. I couldn't put this one down once I started reading it. It's that captivating.You'll find both high level and in many cases details of how to approach certain aspects of real estate investing. Many people commented that it's too theoretical. I think it is in many respects. But there are certainly some things in it that are very practical, especially the advise from the millionaires he interviewed. That's all practical advise and not theory.Most importantly, you'll learn how to think like a wealthy person. Notice, I didn't say like a rich person. That's where the fundamental difference is between the two. I never made that distinction until I read this book. It has opened my eyes. Had I known what I''ve read in this book 20yrs ago or even 10yrs ago, I'd be 10 times richer today.Just the idea of tracking your networth is worth a load of money.Note: This is my first book on real estate investing. I bought it with the intention of starting to invest soon. I got so much encouragement from reading this book that I hope to pull the trigger on investing in real estate. I'll come back and update my review hopefully in a year or two and give an update.Enjoy and good luck!