Sencbcc.org - Loans, Finance, Real Estate and Small Business

good ideas, but on the vague side   January 7, 2008

Take your advice from those who have done it ...   June 23, 2004

One real estate book will not solve all of your problems or answer all of your questions, but the bottom line is that this one gives you more than most. I will continue to go back to this book for ideas and to fine tune my investing skills for years. The only thing missing is him taking you by the hand to take action. Take responsability, be persistant, read, educate yourself, stay positive, be careful who you take advice from, take action, and stay positive.


Where's the Beef???   June 1, 2004
  0 out of 3 found this review helpful

Anyone who remembers that old TV commercial for Wendy's will know exactly what I mean. This book has no substance. "Find a $300,000 house, buy it for $200,000 and flip it to an investor for $250,000 and pocket the difference". Yeah, it sounds nice but I live in a place called Earth. Perhaps in some depressed areas you might find sellers motivated enough to sell at that kind of discount, but don't plan on moving that property anytime soon either. Where I live, in Northern Virginia, people pay $30,000-$50,000 OVER the asking prices for a house. My neighbor just sold her TOWNHOUSE which she put on the market. She listed it for $385K and had SIX contracts on it the first week and sold it for $430K. Good luck finding a "motivated" seller around here. Up into southern Maryland you can find properties for below "market" value, but you can't turn them quickly.

This guy may have done quite well during the real estate boom, but its a different world now and the things he is saying to do "without by the way telling you HOW to do them" are just ludicrous.

Keep your money, don't waste it on this book.


The worst book   May 4, 2004
  19 out of 21 found this review helpful

I have read probably twenty books in real Estate in the past six months...this is the worst so far. Whoever is writting is going at light speed and has no concept of teaching or sharing knowledge. It has no depth and he continuosly jumps from one subject to another not covering any of the real issues and questions. The bottom line...don't waste your money.There are "real good books" in real Estate but this is not one of them.
JC


Disseparate thoughts   March 14, 2004
  58 out of 58 found this review helpful

I got into real estate investing primarily due to Mr. Shemin's first two books, "Secrets of a Millionaire Landlord" and "secrets of a Millionaire Real Estate Investor." Both of these books were excellent, and I wouldn't sell my copies for the world.

However, this is simply a collection of loosely connected thoughts strung together to create a book. Here is the plan presented in the book -- Find a $250,000 that you can purchase for $190,000 from a motivated seller, and sell it to someone else for $230,000, then retire rich.

Not much of a plan if you ask me, especially when where I live, a $250,000 would be a mansion, not a 3 bedroom 2 bath starter house. A real presented plan would be, do A, B, C, D, etc.

What he is suggesting in the book is not investing, rather it is speculating in real estate. While there is nothing wrong with that, let's call it what it is.

His other book, "Unlimited Riches," which I also own, covers everything here, and is a much better written book. It at least presents a cohesive plan that a novice might be able to follow.

The book updates us on where Mr. Shemin is going in his life, and career. He lets us know that he got out of the landlord business and is now speculating in real estate and "writing paper," (hard money lending) as he calls it.

I have read many what I call "Rah Rah" books. There is nothing wrong with convincing people that they too can succeed in real estate, but this book doesn't even do that.

I always try to find 2 or 3 new ideas, even out of a bad book. While there are a few ideas that make me go, "Hmm, interesting," there are no sonic booms here. The book comes off as an advertisement for his real estate seminars and multilevel marking of some products, nothing wrong with that, but not much else for me to sink my teeth into.

I am presently reading his new book "How to Avoid the 75 Mistakes Every Investor Makes." That book should have been 50 Mistakes, but they stretched a few to get 75. Mind you, they are not bad, just that some didn't even take up half a page, and there are 250 pages in that book.

If you have the money, buy the book, but if you have to choose between this one and another one, pass this one by. However, that said, do purchase his Millionaire books. They are worth the money.

In closing, I'd like to find someone who would write a book on how to check real estate records for liens. You know, the nitty gritty work of real estate investing. Instead, they all want you to pay the $1000 for this information.