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Frustrating At Times and Incomplete
on February 16, 2006
There is useful information between the covers of this book; unfortunately, most is buried within the context of conversations with the author, his friends and his "student". I did not like this style of writing at all and found it frustrating, at best; almost like reading a poorly written novel with truly inane dialog about skipping stones across a lake and farming, two give just two examples. If you can get by this (and it is clear most previous reviewers have), the information available is useful, but still incomplete.
For instance, the treatment of holding three investment properties when approaching lenders was informative. But since CMHC requires such large down payments on investment property, I would have liked to have read how we are expected to raise this capital. I would also like to have seen more on the fees and processes used by CMHC when investing in second or third properties.
Since there are also many differences between American tax law and real estate law and because we are inundated with so much of this American information, it would have been nice to see at least a chapter on these differences and how what we think may work in Canada won't, because of these differences.
Finally, buyers of this book gain access to the author's website. You should realize, however, that while there is some useful information there, its main purpose would seem geared to selling you a fairly expensive investing program. (I suspect this is how the author can finance his investments!)
This book is a good start, but the serious investor will need to consult other sources to gain a clearer picture of investing in Canadian real estate.