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Rich Dad's Advisors: Real Estate Riches (Rich Dad's Advisors)Snagging.org In association with Amazon.co.ukOnline Shop | Property Guides | Kitchen & Home | Garden Tools | Power Tools | Consumer Electronics Get the Snagging Checklist Here!  Price: £16.59 Prices subject to change.Availability: Usually dispatched within 1-2 business days
Dewey Decimal Number: 332.6324 EAN: 9780446678643 ISBN: 0446678643 Label: Little, Brown & Company Manufacturer: Little, Brown & Company Number Of Items: 1 Number Of Pages: 192 Publication Date: December 05, 2002 Publisher: Little, Brown & Company Studio: Little, Brown & Company Related Items:
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 Rating:  - Advantages of Real Estate over Stock InvestingNew Zealander Dr. de Roos learned about investing in real estate while he pursued his education in electrical and electronic engineering. A few weeks before getting his Ph.D., one real estate deal netted him $35,000. His best job offer was to earn $32,000 a year. He thought. Why bother? And so began a full-time real estate investing career that led to him teaching real estate investing with Rich Dad, Poor Dad author, Robert T. Kiyosaki. Both played Monopoly as children, and found the real thing even more fun and rewarding as adults. From those experiences, Mr. Kiyosaki reports that 'Dolf de Roos walks his talk.' For fun, they will go out looking at property together in Phoenix where they both live now. "If driving around town looking at properties is a chore for you, then property is probably not for you," says de Roos. In simple comparisons, Dr. de Roos shows you how property investors can earn hundreds of times the returns of stock investors. He had noticed as a young man that many rich people either made or kept their money in property. Some of the advantages over stocks include greater stability in value, ability to borrow almost all of the purchase price, tax laws that allow deducting expenses for depreciation on an appreciating asset, potential to buy below market value, possibility of making improvements that add value beyond their cost, opportunity to refinance to extract cash without selling the asset, cash income to cover carrying costs, little need for day-to-day supervision because you can hire property managers to take care of almost everything, and real estate values moving up consistently. The drawback of real estate investing is that you will invest a lot of time getting started. For example, you will probably have to look at 100 properties to possibly buy one. If you want to earn a living from real estate investing, you will look at many thousands of properties before you will have enough invested to become inactive. During those beginning years, you can be vulnerable to problems with renting or fixing specific properties, finding time to be your own property manager before you can afford one, and setbacks during times of rising interest rates or falling property values. Having established the potential benefits in part one, part two goes on to describe what you need to do. It begins with finding property to look at, looks at analyzing potential deals, recommends how to negotiate and submit offers, shows how to use more of other people's money and time, describes improvements you should look to make, and explains the risk of government involvement. After reviewing Rich Dad, Poor Dad, I got lots of questions about the tax advantages of real estate investing. For people who do not understand the subject, this book won't be enough. Although it has a lot of case histories, this book doesn't do any of them in enough detail for a reader to see exactly what happens throughout the investing and ownership process. This book also is accurate only if you pick locations where prices move up annually at a pretty consistent rate. Although one of the eight rules is be a countercyclical investor, the book needs to emphasize how much more money you make when you buy at the peak in an interest rate cycle and refinance at the bottom of the same cycle, and how the economic cycle affects pricing of property and your ability to rent it. Also, you need to take advantage of trends. With the aging of people born after World War II, this will mean a shift in where property is attractive in the decade ahead from communities where it's a good place to raise children to those where it's good to retire. There's a vague allusion to these issues in the book, but much more is needed. For example, a new factor like foreign terrorism in major U.S. cities could have a large effect on future property values in those cities. After you read this book, think about what allows you to sleep best at night about your finances. For some, that will be part in real estate. Invest in what gives you the best return in piece of mind, as well as income! Rating: - Real Estate Investment BasicsI read the original Rich Dad, Poor Dad and had high hopes for this book. I was a little disappointed by it, though. Yes, it does have some good information but it seems to be more general principles rather than specific information that could be used. It felt to me like a pamphlet that had been padded out into a book. If you're an absolute beginner (like me) then it's probably worth it but I suspect more experienced property investors may find it too basic. One other criticism I have is that at times the book came across like an advertising vehicle for some of Dolf de Roos' other books. More than once I was irritated to read something along the lines of "there are dozens of different ways of doing such-and-such, read my other book Having said all that the book does have some good information. Some of his principles will stick with me, such as: You make your profit when you buy, not when you sell; Buy from a motivated seller (who needs a sale) to get the best value; Seldom sell (to avoid taxes and transaction costs); You need to look at 100 houses to find the one bargain. The last principle particularly impressed me, Dolf is not claiming that this is a get rich quick scheme that allows money to fall into your lap without any work. Overall, worth it for beginners but I suspect if you've read a few other property investment books this won't give you any new insights. Rating:  - Just may make you wealthyVery good book from the point of view that it makes investing in property seem very achievable for anybody. lets face it, we are all aware that a few people are making money (quite a lot of it) by buying houses and renting them out. however most people are daunted by what they THINK is involved and how difficult it will be to get started and therefore do nothing. this book will help you get started because it demonstrates that doing it is quite straightforward. Not that it makes any difference but it got me motivated to go out and buy my first rental property and guess what? i didn't need the magical 15% deposit because as the book suggested, i visited a couple of banks and they couldn't wait to give me money - the rest of you better get started because i'm planning to buy my next one soon!!!! Rating: - Taking the next step in property?Well, I've been a landlord since before it became fashionable in the UK, and this is probably the best book about the subject I've ever read. It would be easy to say that some of the advice given in the book "won't work" because of some specifics about the English and Welsh legal system, however, this would be missing the point... ... This "advisor" is intended to focus in on one part of the overall "Rich Dad" approach to financial freedom, and give more illumination on that part. The whole approach is about concentrating on, and improving, your financial intelligence, which takes time and effort. However, reading this book will take the prospective landlord a long way. It's well worth a read, and speaking from my personal experience as a landlord, following one piece of advice in the book returned me the price of the book 6 times over within two weeks. Rating:  - The basics of property investmentIf this book does nothing else it breaks down into easily understood advice about why one should invest in property, with the aid of simple arithmatic. It shows why press quoted comparisons between investments are not equal and property for the ordinary person is the vehicle for growth. However, I feel that the actual methods of acquiring property used by the author will not work in the UK with our high property prices compared with rental values. The tax implications are not covered due to international variations, but will bite if you've borrowed too much to purchase a property with no reserves. If you're in the UK and thinking of investing in property this book should be read in conjuction with "How to make money from property" by Adam Walker. A useful read and worth the money.  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