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Creating Wealth: Retire in Ten Years Using Allen's Seven Principles of Wealth!
Creating Wealth: Retire in Ten Years Using Allen's Seven Principles of Wealth!
by Robert G. Allen
Edition: Paperback
53 used & new from CDN$ 0.01

2.0 out of 5 stars A let down and out of date, March 29 2003
After the phenomenal success of "Nothing Down" in 1980, Robert Allen's second real estate book "Creating Wealth" published is 1983 was a big disappointment. Even when I read it for the first time in 1983 I was let down. Reading it again in 2003 "Creating Wealth" is even a bigger disappointment. The chapter on Federal Income Taxes is totally obsolete having been written before the tax changes of both 1987 and 1997. The introduction of the Alternate Minimum Tax makes the paying of zero taxes, as proposed by this book even more difficult if not impossible. The ... cap on passive rental losses and the extension of depreciation schedules to 27.5 years for residential properties also has effectively limited a taxpayer's ability to pay zero taxes. The chapter on coin collecting seems to be out of place in this book. Those 16 pages in a 300 page book on real estate seem to serve little purpose except as a failed attempt to show that the author is not one dimensional. The chapter on where to put your cash is also extremely out of date when banks, CDs, and money markets are paying such low current interest. Additionally the book was written before the savings and loan bailout. The chapter on asset protection is weak and was written pre-LLCs. And the chapter of Limited Partnerships is also dated.
Some of the content is a repeat of what was in "Nothing Down" and some of the content is repeated in later books by the author. The story of "Acres of Diamonds" and of the LA Times challenge are later written about in other Allen books. There are some excellent points made in the book, one of my favorites is that the buying of real estate is the most exciting aspect of real estate, while the rental management is boring and a hassle. In that chapter entitled "I Hate Real Estate", the author says that despite the hassles he buys real estate "because the good points far outweigh the bad ones." That does sum it up, real estate is a way for an average person to make some money, increase your assets, and retire early. Also included in the book is his automatic pilot program, whereby real estate throws off cash with little time investment. The chapter on the "Lazy Man's Method" also is worth while and explains his idea of advertising for sellers to call you. There are interesting tips and his "Property Selection Grid" will help to distinguish a good purchase from a bad purchase, and an excellent purchase from a marginal one. The 5 categories on the grid are seller motivation, location, financing, price, and property condition. By evaluating each property on a scale of 1 to 3 for each category you can determine if a property is worth pursuing. Allen says only buy property scoring 12 or above. Overall the book is not as good as "Nothing Down" and several chapters are out of date, therefore I can only rate it 2 stars.

Nothing Down for the 90s
Nothing Down for the 90s
by Robert G. Allen
Edition: Hardcover
50 used & new from CDN$ 0.15

4.0 out of 5 stars Classic, historic, Real Estate book, March 28 2003
First written in 1980 and updated for 1990. Robert G. Allen's book has sold over a million copies and is the all time bestselling real estate book. When I first read this book in 1980, I was very impressed; and after taking Robert Allen's "Nothing Down" seminar and meeting him in person I was more impressed. Though I had bought real estate including a personal residence and investment property before reading his book, Nothing Down made an impact. The message was you can buy real estate without cash. What a great message for somebody who doesn't have any cash. There are certainly portions of this book that are out of date. He writes of 10% annual appreciation in properties, as if its etched in stone. But where I live the appreciation rate has been more like 3% on average.
Rents and purchase prices listed in the book are also out of date, as you would expect for a 13 year old book. A four unit example in the book is listed for sale at $78,000, not many of those left today. In addition there are references to the Resolution Trust Corporation, which no longer exists. Some of the techniques for Nothing Down were the result of brainstorming between the author and other investors and associates. Some of these techniques were great in theory but are difficult to apply in the real world. In one chapter of the book the author states that when you buy properties in foreclosure that "you pay sometimes 60 to 70 cents on the dollar." Two factors have affected foreclosure sales. The first factor is more and more property owners are deeper in debt and there is often little, zero, or negative equity. The second factor is that there is much more awareness of foreclosure sales and they are much better attended by investors looking for bargains. To the author's favor is his credit to John Schaub and Jack Miller for their input to the chapter of 5 year retirement.
Prior to Robert Allen's "Nothing Down" there were only two significant real estate book, to my way of thinking. Those would be "How I turned $1,000 into 1 Million in Real Estate in My Spare Time" by William Nickerson (1959) and " How you can Become Financially Independent by Investing in Real Estate" by Albert J. Lowry (1977). Oh there were other books some of them were even fairly decent. But none with the impact of Nickerson and Lowry until Robert Allen, who not only spawned many real estate books, courses, and gurus of the last 20 years. There is a historical significance to "Nothing Down" by not only its message, but also what came after it and what had come before it. The Nickerson and Lowry books mentioned here are also recommended reading. The Nickerson book is harder to get and more expensive, but the Lowry book is almost as good.
Allen writes in an easy to understand style, that shouts out that real estate is an investment that the average person can comprehend and accomplish goals of financial success. There are chapters in the book on paper, lots of owner financing ideas, and overcoming roadblocks. If you are just starting out in real estate this is a great first book, because if you read most other books of the last 20 years, there will be some of Robert Allen's influence there. Go to the source. If you're an experienced investor, you probably already read this book. The book is dated as mentioned before, and some of the techniques may not apply today, and some may even be illegal today, like "silent second mortgages." Mortgage seasoning was not even a term used 20 years ago, but now you hear it almost every day. Additionally the book does not mention other current aspects of real estate investment such as limits on the number of mortgages one person can have. When I first read this book in 1980 it was clearly a 5 star book. And even though I still appreciate the historical significance of this classic book, there are clearly portions of this book not updated to today; and for those flaws the rating today is 4 stars.

Internet Marketing In Real Estate For The 21st Century
Internet Marketing In Real Estate For The 21st Century
by Barbara Cox
Edition: Paperback
11 used & new from CDN$ 2.32

5.0 out of 5 stars This book conects the dots bwteen the web and Real Estate, March 20 2003
I have seen no other book devoted to the internet and real estate. This book is loaded with good information on setting up a web site for your real estate interests or business. The book is written that even a person unfamilar with the technical aspects of the internet can benefit from this book. This book written in 2001 is up to date in the ever changing world of the internet. There are tons of web sites listed in the book, which if that was all there was in this book would be valuable. Ideas on the content of your web site is provided, as well as a chapter on email. Conventions with email, and even email etiquette. Anybody involved in real estate, whether an agent, broker, investor, or an individual buyer and seller of real estate will want to read this book. And don't forget about landlords and property manager, who should also have a web site. Personally I have 2 web sites and of course email; and there will come a time if it has not already happened where, you will not be able to operate in this business without either. One advice given in the book is that everywhere that your phone number is printed so should your email address. I would only add to that also your web site URL.

Internet Marketing In Real Estate For The 21st Century
Internet Marketing In Real Estate For The 21st Century
by Barbara Cox
Edition: Paperback
11 used & new from CDN$ 2.32

5.0 out of 5 stars This book conects the dots bwteen the web and Real Estate, March 20 2003
I have seen no other book devoted to the internet and real estate. This book is loaded with good information on setting up a web site for your real estate interests or business. The book is written that even a person unfamilar with the technical aspects of the internet can benefit from this book. This book written in 2001 is up to date in the ever changing world of the internet. There are tons of web sites listed in the book, which if that was all there was in this book would be valuable. Ideas on the content of your web site is provided, as well as a chapter on email. Conventions with email, and even email etiquette. Anybody involved in real estate, whether an agent, broker, investor, or an individual buyer and seller of real estate will want to read this book. And don't forget about landlords and property manager, who should also have a web site. One advice given in the book is that everywhere that your phone number is printed so should your email address. I would only add to that also your web site URL.

The One Minute Millionaire: The Enlightened Way to Wealth
The One Minute Millionaire: The Enlightened Way to Wealth
by Mark Victor Hansen
Edition: Hardcover
82 used & new from CDN$ 0.69

3.0 out of 5 stars Motivation & Inspiration not a tech manual, March 17 2003
I have bought and read now 7 of Robert G. Allen's books, though I have never read any of Mark Victor Hansen's books, but I am fond of Chicken Soup. This therefore is not the first book by Robert Allen that I've read; and just as obvious, I have kept reading Robert Allen because there was always something in his books that interested me, mostly real estate. I was somewhat disappointed by the book. Obviously when you combine the talents of two best selling authors, the expectation are high. Perhaps the expectations and subsequent disappointment would not have been as great if the book was written by John Smith and Jim Jones. But if the book has been written by two unknown authors, then I'm positive that the sales would never have been as great as they have been. I'm sure that many people have purchased this book, just because of the reputation of the authors. To their credit both authors are proven and accomplished authors and marketers. The concept of two books, one fiction and one non-fiction in a single binding is an interesting concept. I do however remember a .25 cent Wonder book with two books in one, having another book upside down where the back cover usually was located, so they did not originate the twin book marketing package. On page 178 there is a typographical error, which surprised me as I don't ever remember an error in Allen's other books. Perhaps the editor of the Allen/Hansen Dream Team wasn't a Squirrel (detail worker). An annoying aspect of the book was the repeated references to their website. In some cases it was if a sentence was written in the book, and the completion of that sentence had to be found on their web site. Other times it seemed that the reference to the website was a gratuitous advertisement. In either event I understand why they sprinkled the website throughout the book, but it was not always appreciated. In the former case if a sentence or a thought needed to be completed then it should have been written out in the book. In the latter case perhaps a chapter entitled, "And now a word from our sponsors" would be more appropriate. When there are numerous commercials within the text of this book or any book, I always feel like maybe the book should have been free instead of [$$].
All that said the authors write well in a smooth flowing and understandable style. Much of the book is motivational or inspirational. There is spirituality to an Allen book that is worthwhile but missing in many other authors. I've had the pleasure of hearing him speak and he has a commanding personality in person as well as through his writings. He writes in the book about tithing and how giving is always returned to the giver in one form or another. The bible says that you will reap what you sow. Sort of like what goes around, comes around. The nonfiction book has chapters on networking, team work, systems, skills, leverage, and 24 principles of wealth. Positive thinking and the power of your own mind are recurring themes throughout the book.
The fiction book concerns the story of a down and out young woman and her road to financial recovery using the techniques of the nonfiction book. At first I thought maybe that Allen wrote the nonfiction book and Hansen wrote the fiction, but I'm not sure that that's true, as they both might have written both. The characters of the fiction book are all female except for the token two males. One of the males is a lying, cheating, scheming, cold hearted SOB, while the better of the two is only a two faced, lying, ne'er do well, scoundrel. This may be political correctness, but I call it male bashing. Unfortunately the authors are not the only ones guilty of this, as this philosophy is prevalent in TV, movies and other books. The fiction book was an easy read and could be read in one sitting, albeit long. While there's not much chance that this story will ever be made into an academy award winning movie, it is an interesting and somewhat riveting tale interwoven with lessons. The story is more of a parable. And since it is a parable the $1million in 90 days, should probably not be taken literally. It is a simple story used to illustrate the points made in the nonfiction book. To that end I feel that it is a success.
Since I had read so many other books by Robert Allen, I was able to pick out stories from this book that were also included in earlier books. The real estate section of the nonfiction book is a good 20 page summary of "Nothing Down"; while other sections were lifted from the "Multiple Streams" books. And the one real diamond among the 49 cubic zirconians (fake diamonds) exercise, that is retold in the book is one that I got to witness first hand in Philadelphia years ago. The first time you see this exposition, I must say, is most impressive and thought provoking, and is still well remembered. Allen puts the 50 stones on a table and offers to give the real diamond to a member of the audience, who can distinguish the real one from the fakes in 60 seconds. I take it that he has done this many times and nobody ever gets the diamond. The lesson being with the proper training and tools, anybody could pick out the real gem.
I'd recommend that anyone read this book knowing that the main trust is inspirational and motivational, but that this is not the best book ever written. It is not even the best book ever written by Robert Allen, and for that it's rated a solid 3.5 stars out of 5.

Managing Rental Properties for Maximum Profit, Revised 3rd Edition: Save Time and Money with Greg Perry's Foolproof System for: *Buying the right properties *Finding (and keeping) good tenants *Getting paid on time *Fixing and
Managing Rental Properties for Maximum Profit, Revised 3rd Edition: Save Time and Money with Greg Perry's Foolproof System for: *Buying the right properties *Finding (and keeping) good tenants *Getting paid on time *Fixing and
by Greg Perry
Edition: Hardcover
Price: CDN$ 37.95
25 used & new from CDN$ 2.16

3 of 3 people found the following review helpful
3.0 out of 5 stars Not the best, but not the worst either, March 15 2003
This is not the best book on land lording, and not even the second best, but none the less this is a book worth reading. However, if you are a serious landlord and are only going to read one book, this is not the one to read. The #1 book to read is "Landlording" by Leigh Robinson, which I rated as 5 stars. "The Landlording Kit" by Jeffrey Taylor is rated 4 stars by me. And Greg Perry's book and Richard Jorgensen's book "The New No-Nonsense Landlord" is 3 stars. The Milan book is a solid one star.
I still recommend that you read this book, just not ONLY this book. The author claims that he "owns and manages or co-manages nearly 50 rental properties." That's a pretty vague statement. He could own and manage 1 property and co-manage 45 properties and that would be "nearly 50 rental properties." One of his early points is that your name and phone number should not be advertised in the rental ad. He says that you should establish an open house Friday afternoon and Saturday morning and have all the prospective tenants come around at one time. This would save you phone time with prospective renters, but I'm not sure that this would always be effective. When renting averaged priced rentals in the season, this might work; but I can see times when renting a high priced property or renting out of season that there would be few maybe no prospects at your open house. In another chapter the author suggests filing your deed at the courthouse with the clerk of courts as routine with every lease signing. First of all in Pennsylvania the Clerk of Courts only handles criminal proceedings, so that wouldn't be the right place to file anyway. But more importantly filing the lease is an unnecessary cost as well as a very public window into your private affairs.
On the other hand another tip of driving by your rental properties when in the vicinity makes a lot of sense to me. Checking up on your rentals routinely can be a good dose of preventive medicine. Another excellent tip is to lower your tenant's utility bills. Even if the tenants pay the entire heat bill, insulation, storm windows, etc. will be appreciated by the tenants and lower heat bills will cause a renter to stay longer. Providing appliances is a great landlord debate. Personally we provide apartments with refrigerators and stoves, but many houses are rented without refrigerators. Some higher end properties are rented with dishwashers, and washer and dryers. If I house has a garbage disposal, we'll keep it. But if it breaks it will not be replaced. Recently one disposal had a tendency to attract beer bottle caps. First and second repair bills were at tenant expense. My philosophy is that the more and heavier things that the tenant owns, like refrigerators, washers, and dryers, the less likely they will move. But I can't give you proof for that.
Mr. Perry does recommend that you buy houses where the rent is 1-2% of the purchase price per month. In other words a $100,000 house would rent for $1,000 to $2,000 per month. That's a great idea but hard to execute in reality. Two percent is very hard but not impossible to get. You'll have to look hard and NOT be in a high priced area.
This is not a bad book, but it's not the best either. There are many tips in the book. The author has some good ideas, but other authors have more.

Catch Me If You Can
Catch Me If You Can
by Frank W. Abagnale
Edition: Paperback
Price: CDN$ 14.43
145 used & new from CDN$ 0.01

2 of 2 people found the following review helpful
5.0 out of 5 stars A true and daring story of a teanaged con man, March 9 2003
This review is from: Catch Me If You Can (Paperback)
I've seen the movie and read the book and I enjoyed both. The movie stars Leonardo DiCaprio as the con man of the title being pursued by Tom Hanks as the FBI agent. The book is a true story about a 16 year old New York runaway who leads the FBI and other law enforcement on a 5 year globe trotting escapade of bouncing check, forged payroll checks and life in the fast lane. The author impersonated a Pan American pilot, a pediatric doctor, and an attorney among others. He did this mostly as a teenager who dropped out of high school. Obviously he is not your average drop out, but an intelligent and scheming confidence man. He was more that just a two-bit paper hanger, as he developed techniques using the Federal Routing identification number that had not been used before. After being caught and imprisoned in France, Sweden and United States, Frank Abagnale used his expertise and talents to improve the check banking system, help catch other criminals, work with the FBI, and start his own secure documents corporation. In the back of the book is a question and answer section with the author where he reveals that the movie is 80% accurate. Obvious you can not put a book covering 5 years into a 2+hour movie so some events were altered, and of course some events in the book were omitted from the movie. I give this book my highest recommendation as a fun and enjoyable read. I myself enjoyed all that much more knowing that this is a true story, written by the actual perpetrator, of his exploits as mostly a teenager. Adults as well as teenagers will like this book. This is a an easy read and a fun book to read, I hope you enjoy it as much as me. I'm also planning to read the author's other book, "The Art of the Steal".
Older reades will see some similarities in the true book/movie, "The Great Imposter" which starred Tony Curtis.

How to Negotiate Real Estate Contracts
How to Negotiate Real Estate Contracts
by Mark Warda
Edition: Paperback
14 used & new from CDN$ 0.36

4.0 out of 5 stars Real Estate Contracts fully expalined, March 9 2003
I understand that Attorney Mark Warda has written over 60 books on real estate and the law, and this is just one of those books. He dissects the real estate contract between the buyer and the seller going over each and every clause and explaining its meaning in layman's terms.
Also included in the book are 8 different forms. If you are represented by a competent and knowledgeable real estate attorney, then this book may not be necessary. But if you are buying and selling property without an attorney then this book is a must. The more property you buy and sell the more you need this book. On the other hand if you already have many settlements under your belt this book will not have many new ideas for you.
This book would most benefit the beginner or intermediate real estate investor. I also read another book by the same author on "Land Trusts" and got much more from that book.

How to Buy and Sell Apartment Buildings
How to Buy and Sell Apartment Buildings
by Eugene E. Vollucci
Edition: Paperback
Price: CDN$ 30.93
21 used & new from CDN$ 0.01

1.0 out of 5 stars this is a [Bad] book about a [Bad] get rich scheme!, March 5 2003
This book published in 1993 is one of the worst real estate books ever written. It surprising that a book this bad has lasted this long. Anybody who gives this book a good review is related to the author or seriously delusional. Some real estate books are bad because the author is unfamiliar with the topic, or can not offer detailed real world advice from their theoretical perspective. Believe it or not some real estate books are written by authors, who don't know what they're talking about, or tell a tale that has no basis in the practical real world. Mr. Vollucci apparently has been an investor for 25 years, at least according to the book's cover. so from his years of experience, you would assume that he would write a good book. You know what they say about assuming. He also has taught a real estate seminar entitled "Three Moves to a Million." This is a catchy title! The author states, "You too can become a millionaire starting with just $6,000, and you can do it in only three moves, if these moves consist of investing in midsize apartment buildings." He further defines midsize as 18 to 100 unit complexes. The first move is to buy a "hypothetical apartment building for $600,000" in Phoenix. He hypothetically forms an investment group of 10 individuals who put up $6,000 EACH for the down payment. Four years later the Phoenix property is "hypothetically" sold for $860,000. And a second "hypothetical" 44 unit building was bought in Boston for $1,750,000, now with a group of 5 investors. Apparently one "hypothetical" investor went home. Two years later the Boston property is "hypothetically" sold for $2,325,000. The third move was a 40 unit building in Seattle bought for $1,450,000 with no investing group. The one investor takes the proceeds from the Boston building and buys the Seattle building by himself. In 1990 the Seattle building was "hypothetically" sold for $2,267,043. Therefore the author using a computer program and 10 years of hindsight turned a mythical $6,000, into a "hypothetical" $1million dollars in only 10 years.
In the book are other facts that are suspect. For example its written in the book "that seven out of ten millionaires made their money in real estate." Read "The Millionaire Next Door" and the Forbes 400 riches for the real scoop. You'll find that the 7 out of 10 figure is grossly exaggerated by the author.
If you want to play a computer game and you want a million dollars "hypothetically", then this is the book for you. Otherwise read "The Millionaire Next Door" By Thomas Stanley and William Danko for information on REAL life millionaires. And for buying real estate apartments read William Nickerson's "How I Turned $1,000 into a Million in Real Estate in my spare time", which is not a computer simulation game.

Get Clark Smart: The Ultimate Guide to Getting Rich from America's Money-Saving Expert
Get Clark Smart: The Ultimate Guide to Getting Rich from America's Money-Saving Expert
by Clark Howard
Edition: Paperback
Price: CDN$ 15.72
70 used & new from CDN$ 0.01

3.0 out of 5 stars A good overview of many consumer issues..., March 2 2003
There are about 72 different topics discussed in this book from buying a house and car, to identity thief and timeshares. Each topic is 3 or 4 pages long and this is an easy book to read. If one topic doesn't interest you you can skip over it to the next. Also this book can be used as a reference book. the author apparently has a radio call in show where he answers consumer questions. I have never heard the show apparently its not carried in our area. So I had no preconceived notions about the author before reading the book. The subtitle to the book is the "ultimate guide to getting rich from America's money saving expert." Clark Howard may be the country's money saving expert, but this book is not a guide to getting rich. The subtitle is misleading and ironic since the author is crusading against the misleadings of consumers by various companies. The information contained in the book is worth while, but the book is not a getting rich book. There are plenty of web sites listed in the book and if one topic was of particular interest to you, further reasearch would be needed.
There are many money savings tips in the book, but I didn't count them to see if there were "hundreds" as the book's cover claims. The book is very informative, covers many diverse topics and is worth the price of less than $12 on Amazon.com, but I felt that the subtitle and cover claims are over the top.
Overall its a 3.5

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