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The Weekend Millionaire's Secrets to Investing in Real Estate: How to Become Wealthy in Your Spare Time [Paperback]

Mike Summey , Roger Dawson
4.6 out of 5 stars  See all reviews (27 customer reviews)
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Book Description

Sept. 15 2003

"Everything you need to know to make millions by investing in real estate. Be smart -- take advantage of their invaluable experience to help you reach your financial goals."--Jack Canfield, Co-author, The Power of Focus, Dare to Win, and the Chicken Soup for the Soul(R) series.

A proven formula for making a killing in small real estate investments in all market conditions

Millionaire real estate investor Mike Summey and nationally recognized negotiation expert Roger Dawson team up to offer a complete program for becoming a real estate magnate in your spare time. Unlike all the get-rich-quick real estate investment guides on the shelves, The Weekend Millionaire shows readers how to look beyond price to the fundamentals of what makes a property valuable and to leverage that value in order to build wealth, consistently, over years. It also teaches them an original, win-win negotiating strategy in which the buyer determines the terms of the purchase and lets the seller determine the price.

Readers get clear, step-by-step guidance on how to:

  • Find great investment properties
  • Approach sellers
  • Structure a win-win proposal
  • Get a proposal accepted--even with no money down and bad credit
  • Negotiate a transaction
  • Manage and maintain properties for increasing returns

Product Details

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

Most helpful customer reviews
2 of 2 people found the following review helpful
1.0 out of 5 stars Give this one a pass May 22 2004
By Eleanor
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
2.0 out of 5 stars Some useful information June 1 2004
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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4.0 out of 5 stars Lives Up To The Other Reviews April 10 2004
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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5.0 out of 5 stars Tremendous Feb. 2 2004
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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5.0 out of 5 stars Buy The Book! Jan. 24 2004
By A Customer
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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Most recent customer reviews
5.0 out of 5 stars Simply the Best.
This book truly covers all aspects of real estate in a very useful, educational manner. The concepts are as timeless as they are valuable. Read more
Published on June 23 2004 by Brian
5.0 out of 5 stars Weekend Millionaire's Secrets to Investing in Real Estate
It is the best book on real estate investing that I have read in the nine years I've been in business as a real estate investor. Read more
Published on June 22 2004 by CMcManigal
5.0 out of 5 stars Very good real estate book-priceless information
I have to laugh at reviews where on reviewer wrote "Mike did this and Mike did that. Wouldn't you want to be like Mike? Read more
Published on June 20 2004
5.0 out of 5 stars Good Book on Real Estate - Full of Information !!!
Most importantly I like the fact that the authors had the sense to write in short easy to understand chapters. Read more
Published on April 4 2004
5.0 out of 5 stars Great R.E. book ---great negotiating tips
I have several of Roger Dawsons books and audio tape programs from Nightingale-Conant. He is the King of negotiating skills and the man that everyone goes to for advice. Read more
Published on March 13 2004
1.0 out of 5 stars The weekend Millionaire's etc....
Just wondering if any Canadians have read this book and have applied it to real estate investing in Canada?
Published on March 4 2004 by i
5.0 out of 5 stars Excellent Book!!!
Outstanding book, and very well written. Full of practical advice, easy to understand, and not boring. I think this could be the best book I've bought on the subject. Read more
Published on March 1 2004 by J. Metz
5.0 out of 5 stars A must have for serious investors
Anyone who is serious about investing in real estate should add this book to their library. It's simple and to the point about focusing on the actual part of real estate investing... Read more
Published on Feb. 23 2004
5.0 out of 5 stars Great Info.
Easy to under stand and read! A+++++
Published on Feb. 19 2004 by Patrick
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