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The Weekend Millionaire's Secrets to Investing in Real Estate: How to Become Wealthy in Your Spare Time Paperback – Sep 15 2003


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Product Details

  • Paperback: 288 pages
  • Publisher: McGraw-Hill; 1 edition (Sept. 15 2003)
  • Language: English
  • ISBN-10: 0071412913
  • ISBN-13: 978-0071412919
  • Product Dimensions: 15.2 x 2.1 x 22.6 cm
  • Shipping Weight: 408 g
  • Average Customer Review: 4.6 out of 5 stars  See all reviews (27 customer reviews)
  • Amazon Bestsellers Rank: #388,273 in Books (See Top 100 in Books)

Product Description

From the Back Cover

Control your financial destiny--and become a Weekend Millionaire!

"Jam-packed with practical ideas that work. Mike and Roger take the potentially complex topic of real estate investing and turn it into a simple process that shows you how to build real wealth, real fast. It's a must read!"

Don Hutson, CEO, U. S. Learning, Inc.

"If you're ready to be a Weekend Millionaire, read this book by brilliant friends Mike and Roger."

Mark Victor Hansen, Co-Author #1 New York Times Best Selling Series, Chicken Soup for the Soul

You don't have to be independently wealthy or a tycoon to get started in real estate. This step-by-step guide shows you how to look beyond price to discover the true value of an investment property. It gives you a long-term strategy, based on sound market principles, to leverage this value to create a substantial cash flow without major capital investment. You will learn how to:

  • Find ideal investment properties
  • Determine the investment value of a property
  • Approach and negotiate with sellers
  • Structure win-win proposals
  • Manage and maintain properties
  • Get started!

About the Author

Mike Summey has taught the Summey Method to thousands of people across North America.

Roger Dawson is a leading negotiation expert whose bestselling cassette program, "Secrets of Power Negotiating," has exceeded $28 million in sales.


Inside This Book (Learn More)
First Sentence
We don't say that real estate investing is the only way to get rich. Read the first page
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Front Cover | Copyright | Table of Contents | Excerpt | Index | Back Cover
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Customer Reviews

4.6 out of 5 stars
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Most helpful customer reviews

2 of 2 people found the following review helpful By Eleanor on May 22 2004
Format: Paperback
Well, yet one more example that we're in a real estate bubble. Four or five years ago, our financial salvation was in Internet companies; today it's real estate.
This book was more of an autobiography. Despite its claims to the contrary, it is a get rich quick scheme. Real estate investing is more complicated that this book would lead one to believe. In reality, it's not as simple as churning property quickly. The real danger, as I see it, is people getting too highly leveraged when interest rates rise.
Read between the lines. If the advice sounds too good to be true, discount it.
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2 of 2 people found the following review helpful By R. Jones on June 1 2004
Format: Paperback
This book contained some useful information with regard to negotiating, and some of the basics of investing in real estate, but in my opinion it is far from a 4 star book. A major problem I have with this book is all of the success stories about Mike- that go something like, don't expect this to happen often but Mike once did this or that- the stories are very unrealistic.
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Format: Paperback
I bought this book largely on the recommendations here at Amazon.com. It was worth the money.
This is a fairly good book. If you want to get into real estate investing but are unsure how to start, as I do, this book will be useful to you.
The book is broken into three main sections. Section 1 discusses real estate investing in general. It gives plenty of real life examples of properties the authors have purchased, how the deals were financed, etc. Section 2 is Roger Dawson's tips for negotiating. Dawson covers these in his other books and tapes, but they're worth repeating here. Section 3 is the week-by-week guide to getting started. It is like homework for the reader.
The book seems to emphasize seller-financing quite a bit. Now, I've never invested in properties before, but how often can you find sellers willing to carry some sort of financing? I'm not sure. But the book isn't relying on 100% seller financing - more like 20% or whatever the bank won't carry as a mortgage.
The book also contains a fairly decent description on how to calculate the "wholesale value" of a property. So instead of starting from the retail price (what the seller is asking), you start from how much you can rent the place for and determine price from there. The terms of the financing have a huge impact on price, according to this book. So you can often give the seller 100% of their asking price, as long as you can get favorable a interest rate.
Very interesting. I'm actually going to read this book one more time.
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By whiskey888 on Feb. 2 2004
Format: Paperback
Easily the best real estate investing book I've read. This is a no-nonsense, very practical look at how to buy single-family homes and rent them out. It's a page-turner, it doesn't get lost in the details yet is descriptive enough for people to get started. The authors' philosophy is to generate an income stream through renting your properties, and then use the properties as leverage for buying subsequent properties. They basically advocate NEVER selling them unless they're not profitable.
As other reviewers have pointed out, the sections on negotiating are excellent and should not be taken lightly. The techniques they describe were eye-opening, I was shocked at how they might be used, or used against me! To many, the section on negotating may even be more useful than the rest of the book.
To further motivate you to get started, the book includes 8 chapters at the end, each representing one week, that describe exactly what to do in your first 8 weeks of getting started. Very well written, i've already recommended this book to several others.
The authors correctly convince you that the terms of the deal are often as important, or more important, than the selling price. This is because you can still get a good return on investment (ROI) even if you pay more than the asking price. Then, to me, the only weakness in this book relates to financing homes in very expensive markets. The authors advocate only buying houses within a 10-mile radius of where you live. Sure, if you have so-so credit and little money, you can probably scrape up financing for homes in the $50000-$100000 range. But what if you're like me, in the San Francisco Bay Area, where 1300 sq foot homes in decent neighborhoods can go for $300-400k? This is a VERY high barrier for entry.
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By A Customer on Jan. 24 2004
Format: Paperback
Many people are stuck in a 8-5 JOB and want to start a busines but don't have the capital or time to do it. The author is honest and up front that you can become a millionaire through your own real estate investing business but it won't happen overnight. He takes you step by step on how you can get started with out a lot of risk, working on weekends and with very little money to get started.
What the author shares in this book works as he has successfully used the same material he teaches in the book to build his own real estate investing business. I first became acquainted with the author Mike Summey when I purchased the "Wealth And Empowerment Training" course from Carleton Sheets Training Institute. Mike did a lecture on one of the video's as he is one of Carleton's most successful students. During the lecture he showed slides of his properties and he explains in detail how he built his Real Estate Investing Empire. If you are serious about becoming financially independent buy the book!
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