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Rich Dads Advisors: Real Estate Riches
Imported Little, Brown USA titles (
31 October, 2001 )
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The basics of property investment  |
If 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 youve borrowed too much to purchase a property with no reserves. If youre 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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Taking the next step in property?  |
Well, Ive been a landlord since before it became fashionable in the UK, and this is probably the best book about the subject Ive ever read.It would be easy to say that some of the advice given in the book "wont 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. Its 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.
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Real Estate Investment Basics  |
I 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 youre an absolute beginner (like me) then its 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 to find out what they are."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 youve read a few other property investment books this wont give you any new insights.
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