- Paperback: 294 pages
- Publisher: John Wiley & Sons Canada, Ltd. (Oct 20 1999)
- Language: English
- ISBN-10: 0471297860
- ISBN-13: 978-0471297864
- Product Dimensions: 22.8 x 15.3 x 2.2 cm
- Shipping Weight: 449 g
- Average Customer Review: 3.9 out of 5 stars See all reviews (7 customer reviews)
- Amazon Bestsellers Rank: #2,033,947 in Books (See Top 100 in Books)
- See Complete Table of Contents
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Product Details |
Product Description
Book Description
The straight, no-nonsense facts on how to become a millionaire by investing in real estate Real estate is back in a big way, and investors are turning to real estate consultant and educator James Lumley and his seven simple but proven techniques that successful investors are currently using to make money. These solid strategies are effective and offer a reliable way to continually generate cash-money for spending or reinvesting. The "magic" techniques, which include investing in fixer-up homes, small- to medium-sized apartment properties, and securing properties with lease-purchase agreements, can be used individually, or in combination, depending on investment goals.
*A proven and reliable way to continually generate cash-money *New tax laws and low mortgage rates are making real estate an available option to the turbulent stock market
James Lumley (Amherst, MA) has over 30 years of experience as a residential-investment consultant in real estate and as a real-estate educator. He is the author of the successful How to Get a Mortgage in 24 Hours.
From the Back Cover
A safe, affordable investment strategy for living the life of your dreams.
Reading this book is your first step on the road to financial freedom. You'll learn the proven real estate investment strategies that many of today's millionaires used to make their fortunes. And the best thing is, you don't need a lot of money or any prior property investment experience to begin generating a steady flow of cash to do with as you please--right away!
The five paths to riches real estate expert Jim Lumley describes are common approaches to property investment--fixer-uppers, lease/option, wholesale, buy-and-hold, and single- and multifamily rentals. But the real magic in this book is Lumley's uncanny ability to teach absolutely anyone--even lifelong renters--everything they need to know about the basics of real estate investment and how to make a killing using the five strategies. You'll quickly learn what you must know in order to:*Find foreclosed, repossessed, or condemned properties*Research the markets and perform valuations*Determine what you can safely afford*Negotiate with sellers and buyers*Find the best financing terms, including seller-financing*Price and perform money-making repairs*Work with agents and contractors*And much more
Inside This Book
(Learn More)
First Sentence
For many people, real estate has been the investment of choice to become wealthy. Read the first page
Front Cover | Copyright | Table of Contents | Excerpt | Index | Back Cover
For many people, real estate has been the investment of choice to become wealthy. Read the first page
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Front Cover | Copyright | Table of Contents | Excerpt | Index | Back Cover
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Customer Reviews
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Most helpful customer reviews
5.0 out of 5 stars
A Comprehensive Introduction to R.E. Investing,
This review is from: Five Magic Paths to Making a Fortune in Real Estate (Paperback)
Folks,I read this book, loved it. Passed it to a friend, who passed it to a friend. I haven't the vaguest clue as to where it is now. The only reason that I write this is because the book is an awesome way to introduce people to real estate investing. If you are already aware of what you can do to make money in RESIDENTIAL Real Estate then this book is not for you. There is very little detail that you would find useful in this book, that wouldn't be better explained in another more advanced book, or even a college course. However, I stress that this IS "THE BOOK" for those new to Real Estate investing. It covers the basic strategies for those who are interested in knowing what options and methods are available to them in Residential Real Estate Investing. I hope this helps. Please vote if it does.
3.0 out of 5 stars
basic,
By
This review is from: Five Magic Paths to Making a Fortune in Real Estate (Paperback)
Mainly geared towards showing a basic overview of the 5 most common beginning investor techniques. I do like that he includes info on multi-family as most of these books aimed at beginners just cover single-family investments. The danger with these books are that readers new to the field might just strike off and try to do some of these things without further investigation. In his defense, I will say he is one of the few authors who explains some of the lien dangers involved with buying foreclosed properties (mainly IRS liens.)
3.0 out of 5 stars
Good Beginning Book, However,
By
This review is from: Five Magic Paths to Making a Fortune in Real Estate (Paperback)
there is not enough meat on these bones for the experienced real estate investor. This 2000 book draws on the author's 30 years of real estate experience as an educator and consultant. His 5 paths are: Fixer-uppers, Lease/option, wholesale, buy and hold single family homes, as well as multifamily rentals. These 5 categories are by no means the ONLY paths in real estate, but they are the most common paths and the paths most frequently used by beginners. The book is 285 pages and is a wide broad look at real estate. The book is geared to the beginner and maybe the intermediate investor and would probably be too light, for the experienced inestor. However, somebody experienced in one of the 5 paths might enjoy and benefit from reading about the other paths, though light reading. There are so many topics discussed in the book, that many topics were not presented to the depth that I was looking for. There are case-studies in the book which are very helpful to illustrate the points the author is trying to make. In addition there are many examples using real dollar figures, which makes the understanding of the topic easier. But the vast number of topics covered dictates that the depth of each subject is limited. For example the chapter on Buy and Hold Single Family is 15 pages and the chapter on Buy and Hold multifamily is 14 pages. Compare this to the David Schumacher book "Buy and Hold" which is 306 pages. Now which book do you think covers the topic with more depth. This is a book that I'd would recommend to anybody, the advice given in this book is real, down to earth, and practical. This book is much better than many others, but will only scratch the surface for the serious investor. The depth given to each topic is not enough and will leave the serious, and hungry investor wanting more, but this is a good place to start.
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