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| Real Estate Riches: How to Become Rich Using Your Banker's Money | 
 enlarge | Author: Dolf De Roos
Publisher: Wiley
Category: Book
List Price: $16.95
Buy New: $1.50
You Save: $15.45 (91%)
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Avg. Customer Rating:  (14 reviews)
Sales Rank: 207593
Languages: English (Original Language), English (Unknown), English (Published)
Media: Paperback
Edition: 1
Number Of Items: 1
Pages: 224
Shipping Weight (lbs): 0.6
Dimensions (in): 8.8 x 6 x 0.6
ISBN: 0471711802
Dewey Decimal Number: 332.6324
EAN: 9780471711803
ASIN: 0471711802
Publication Date: October 2004
Availability: Usually ships in 1-2 business days
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| Customer Reviews:
 good points but overly simplistic September 8, 2006
Dolf brings good points about property
1) having more control than paper assets
2)Leverage
3)Tax benefits
4)How inflation works in your favor
But a bit of it is overly simplistic.Anyone would know La is a hotter market than Idaho.
 It felt good the first time --and still good for the firstimer July 10, 2006
16 out of 17 found this review helpful
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!
Good Common Sense, Practical Advice February 2, 2006
7 out of 9 found this review helpful
Real Estate Riches: How to Become Rich Using your Bankers Money, by Rolf De Ross
Dolf talks about how real estate blows the doors off other investment vehicles because of the leverage available. The book is a bit basic and conceptual, but for those investors either just getting started in real estate or thinking about it, this book will give you the push needed. It explains how the returns can be explosive on the capital invested because of the use of leverage. It's true, understanding how the implications of leverage affect total return is very important, however I would have likes more real life examples. In my book, A 20,000% Gain in Real Estate, I go over in detail deal after deal to illustrate this point.
Another key concepts covered are: productivity, and how it is affecting middle America, oceanfront or seaside property, and how it appreciates 50% more than other areas and the time needed to look at 100 properties before finding a real deal. All these are must know for the real estate investors of tomorrow.
This book as well as the others in the Rich Dad series are great starting points. I read all that were available while building my real estate company which went from $0 to $25,000,000 in holdings in less than 5 years.
By Kevin Kingston, Author of, A 20,000% Gain in Real Estate
 Excellent advice for beginners September 8, 2005
This book was excellent. I am a "beginner" real estate investor at best (I just purchased my first rental home) and this book was EXACTLY what I needed. Dolf's advice was to the point and inspiring. If I had to pick at something it would be his references to his webpage where you can purchase some of his software and other books. But then again, I would probably do the same.
If you still have doubts on why real estate is the best place to invest your money then you need to read this book!
Good Points, But Too Simple August 17, 2005
6 out of 6 found this review helpful
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.
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