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|  | |  | | | Real Estate Riches: How to Become Rich Using Your Banker's Money | | | | | SKU:
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Usually ships in 1 business days | | | | | | An all-time bestseller, Dolf de Roos?s classic Real Estate Riches shows you how to find great deals and make great profits in the real estate market. You?ll learn why real estate is such a reliable moneymaker and how to achieve the biggest return possible on your investment. Full of time-honored wisdom, proven tactics, and quick-and-easy tips, this book shows you how to find the best properties with the most potential, analyze deals, negotiate and submit offers, effectively manage properties, and dramatically increase the value of your real estate without spending much money. If you want to be your own boss and quit the nine-to-five life, Real Estate Riches shows you how. | | | |
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| | Product Details | | Author: | Dolf de Roos | | Paperback: | 224 pages | | Publisher: | Wiley | | Publication Date: | 2004-10 | | Language: | English | | ISBN: | 0471711802 | | Product Length: | 9.1 inches | | Product Width: | 6.0 inches | | Product Height: | 0.53 inches | | Product Weight: | 0.74 pounds | | Package Length: | 8.9 inches | | Package Width: | 5.9 inches | | Package Height: | 0.7 inches | | Package Weight: | 0.6 pounds | | Average Customer Rating: |  based on 14 reviews |
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| | Features | ISBN13: 9780471711803Condition: NewNotes: BRAND NEW FROM PUBLISHER! 100% Satisfaction Guarantee. Tracking provided on most orders. Buy with Confidence! Millions of books sold!
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| | Customer Reviews | Average Customer Review: ( 14 customer reviews )
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Most Helpful Customer Reviews
79 of 81 found the following review helpful:
 Real Estate Cheerleading Jan 17, 2005
By Shane Polizzano
Roos is part real estate investor, part cheerleader. If real estate investing were as simple as getting excited about real estate investing then we'd read this book, leave our 9-5s, and, ahhh, riches. Real Estate Riches inspires me to invest in real estate the way Bruce Lee inspired me as a kid to become a kung fu master. It's great to dream about, but the hard work between the dream and the reality is usually enough dissuade.
His basic plan-of-action is 1) use as little of your money as possible and as much of the bank's money, to, 2) --he skips this part about how hard it is it find and identify a positive cash flow property, then, 3) buy a place that continues to increase in value, while it simultaneously delivers cash in your pocket each month, and finally, 4) when you need more money to invest, drain the equity from your property and repeat.
I think the best advice he gives, and the one insight you might find to be part of the real work of real estate investing, is the 100:10:3:1 rule. Look at _100_ properties, make offers on 10, negotiate financing on 3, and you MAY buy 1. Real estate investing is hard work. Roos show you all of the glamour, but little of the daily grind that's involved to make it happen for yourself.
For a more balanced approach see Real Estate Investing, 4th edition by McLean and Eldred.
23 of 24 found the following review helpful:
 It felt good the first time --and still good for the firstimer Jul 10, 2006
By Akinaw Bulcha
There is nothing detailed or even intellectually satisfying in this book. But I think the one thing that it does do is, (as another reviewer put it,) is to cheerlead. This book was exciting as it was the first book that I had ready on the subject. But now that I have done numerous transactions in real estate and handled millions of dollars worth of real estate and having experienced the ups and downs, DON"T DO REAL ESTATE AFTER READING THIS BOOK!!!!!!!! This book is so simplistic one does not know where to begin. For instance, Mr. Dolf, doesn't delve into possible set-backs seriously enough. He assumes that as long as you buy in a densely populated area, it is a safe bet. And he gives an example of "California" as one such place. There are many contingencies too numerous to list that destroys such a simplistic theory. Markets do have their time and in real estate, if you are stuck in a loan and a property you can't move, you are illiquid and repositioning is not as easy as it might seem. Therefore, being incapable of averting financial ruin is mmore difficult.
Real Estate is something that is experienced. You can't just "buy by the beach" and then just earn equity growth because no one is making beach front. And how many people have the kind of money that allows their first deal to be a fixer in Malibu. His other formula to look at a hundred-pick three-and buy one is really idiotic. There are no formulas in a mechanism that is continually shifting. The real estate industry is continually evolving. There is always an element of risk involved in any purchase. And buying single family homes is a mistake unless you are in a rapidly appreciating environment simply because there is less income potential to hold notes. And the more units, the better the rate (commercial properties). Also, the diversity of loan products just about allows anyone to buy their own home--no need to rent. None of this is even mentioned in these pages.
Then why three stars? Because, fundamentally getting excited is half the battle. And this book WAS exciting. Its simplicity is actually very appealing. In essence, he is right about one thing: Real estate is about debt acquisition ultimately. The SELECTION of the type and structure of debt and the INSTRUMENT against which a deed of trust is written is all-important. But Dolf miserably fails on these issues.There is a tremendous lack of serious dialogue and this book is simply an attempt to sell less than a mediocre work to a less than average society. For God's sake--HE TELLS YOU ABOUT THIS ONE HOUSE SOMEWHERE AND HE PAINTED IT AND LIKE MADE $20,000!! WOWIE!! $20k! You can buy gas for six whole months. Truth is, REAL ESTATE IS MORE COMPLICATED than one would ever assume. If you want something simple....buy an Index fund.
If you want to raise your I.Q. read another book. If you want to understand the simplest of simple items in real estate and get excited, read this book as a starter. But promise yourself you will wait before you jump into a ridiculous formula of see 100:make offers on three and buy one by the beach you cant afford!
19 of 21 found the following review helpful:
 Excellent Real Estate Book by someone who knows....... May 09, 2005
By Chuck Kimbriel
"Happy Amazon Customer"
I have to admit that I am a fan of the Rich Dad series of books. I also have to admit that Dolf de Roos was not initially my favorite author in the advisor series. When I came across the first edition of this book, I thought it was slim and the weakest of the series.
Then I bought Dolf de Roos Real Estate College Program at Costco which includes a audio version of this book. I was impressed both by Dolf de Roos knowledge and ability to explain complicated real estate terminology in easy layman terms. He made learning easy and fun.
I went out and bought the revised version of this book and love it. Having the printed version makes looking up information easy. I play the cd's in my car to reinvorce the material.
Also recommend The ABC's of Real Estate Investing by another Rich Dad advisor Ken McElroy and Nothing Down 2000's by Robert Allen.
6 of 6 found the following review helpful:
Good Points, But Too Simple Aug 17, 2005
By David Ambrose
"David"
This book has some very good points, but it's more motivational than anything else. The examples seem very extreme and are given without much detail. Most of the methods seem overly simplified and lack clarity, others are quite vague. This does not seem like a great book for learning about investing, but it does get you really excited about real estate! It makes for a great introduction into the field as it compels readers to learn more.
8 of 10 found the following review helpful:
You won't find this stuff anywhere else! May 23, 2005
By CyberMan
"http://xtravelganza.gttrends.net"
What appealed to me about this great book by Dolf de Roos is
1) It was written by an actual real estate investor who was
writing from his own personal experiences
AND
2) This book is different from the other real estate books which
all more or less same the same things.
Dolf does a great job showing that that real estate is still the best investment, actually tens and hundreds of times better than any other investment including and especially the stock market.
Dolf will show you how to find the deal of the decade every week!
How to massively increase the value of your property without spending too much money.
olf also explains how the government can subsidize your real investments and how to create passive income using your bankers money so that you only work if you want to.
My main business is network marketing. I have found Dolf de Roos real estate advice not only providing me with an additional stream of passive income, but also taken a chunk out of my tax bill as well.
If you looking for another "Nothing Down" or "Get Rich Quick" book on real estate, look elsewhere. This book can however show you how to get richer quicker with proven strategies.
Great book. Highly recommended.
See all 14 customer reviews on Amazon.com
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