Top critical review
6 people found this helpful
on November 29, 2013
Much repetition... and some excuses.
Written in a somewhat condescending and annoying style pretending to re-enact the discussions during a live seminar. Filled with nonsensical made-up conversations reminiscent of a magic bullet blender infomercial. "Gee I can't even taste the broccoli in this fruit smoothy!" Some of the formulas relating to qualifying for mortgages and some insight into lenders is interesting and useful but having to wade through the rest of the book is somewhat painful. "Here's an obvious and simple formula for you to calculate how much money you have in your bank account. Don't blame me - I never promised any startling revelations." That's true. There are no startling revelations and precious little insight other than "Use your savings to buy real estate. If you don't have savings, try to attract some joint venture partners." This book could (and should) have been condensed into one or two chapters.
As difficult as it is to find a book on Canadian real estate investing not written by Don Campbell (and this author is obviously aware of that fact as he takes every opportunity to remind the reader that he and Don are best buddies) I would give this one a pass - even at it's overpriced $21 kindle edition.
If you already have considerable capital (or rich friends willing to invest with you) and/or find the idea of pursuing joint venture partners appealing, you may find this book somewhat interesting. If you are looking for innovative ways to finance real estate purchases with little money down or want advice on investing techniques to help raise money for capital, you will not find it here. The idea of being able to buy property with little money down (by way of vendor financing for example) is very briefly mentioned but immediately dismissed with no viable alternatives offered. I don't see the point of listing several financing options and then explaining that only two or three of them are actually possible. "Hey, I didn't say there would be a magic solution." Thanks.
If you like books filled with repetitive non-information I would stick with the Rich Dad books. They are at least much more motivating. This book claims to help you "identify and overcome obstacles to your success" and "Discover financing options and solutions." The obstacles are "no money for down payment" and the financing options are "joint venture partners". The rest is mostly endless inane fictional unrealistic dialogue and filler.
On the other hand, if you enjoy reading the word "doors" ad infinitum and want a book to help you determine why you want to purchase real estate and how much real estate you may need to accomplish that goal, this book might be for you. The section on exit strategies is also useful - assuming you get to that point in your real estate investing career. Undoubtedly, the author has a wealth of experience and insight into the mortgage industry which is displayed in the first few chapters. If you have little or no money for down payments and no interest in pursuing joint venture partners, you will probably find this book a bit of a let down.