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| The WealthLoop Series Beginner's Guide to Building Wealth Buying Houses: The Foolproof Roadmap to Real Estate Riches Without the Risks and Hassles of Landlording | 
 enlarge | Author: John A. Michailidis
Publisher: Brain Forge Press, Inc.
Category: Book
Buy New: $21.95
Buy New/Used from $21.95
Avg. Customer Rating:  (20 reviews)
Sales Rank: 201889
Language: English (Published)
Media: Perfect Paperback
Edition: 1st
Pages: 212
Shipping Weight (lbs): 0.8
Dimensions (in): 8.9 x 5.9 x 0.8
ISBN: 0978819098
EAN: 9780978819095
ASIN: 0978819098
Publication Date: April 1, 2007
Release Date: February 19, 2007
Shipping: Eligible for Super Saver Shipping
Availability: Usually ships in 24 hours
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| Customer Reviews:
 Very good on the front end, but nothing on the backend January 7, 2008
10 out of 12 found this review helpful
I like this book alot.
The general overview was a bit long for me. While I think the author has makes valid point regarding the value of income streams, I found some put downs of traditional methods of investing off putting.
That said the coverage of finding and buying a home is great. The part on getting renters is also good, but some advice on how to do credit and background checks would have been helpful. The example was very good as well. The parts on how to handle the back end of the transactions and how handle the money put aside for the buyer/renter are missing....
Thats my biggest criticism. Its almost as though the author doesn't expect the buyer/renter to ever purchase the home (I don't really believe this based on his comments in the discussions, but based just on the book). I say this because the author implies that you can use the down payments to finance subsequent purchases. That would be fine, if there was some detail around how to do this and still have the buyers money for the purchase.
I also think that there should have been a recommendation for a lender to evaluate the back end of the deal and the renter to see if the end purchase is realistic.
Again, despite my criticisms, I still recommend buying this book. I'm strongly leaning toward this method of investment but don't think its a complete system. I'm now looking for another book that has detail this one is missing.
 simple application of lease options December 11, 2007
3 out of 3 found this review helpful
At first glance the book seems like a general treatment on the merits of RE investing - but soon focuses on the 'meat' - a simple application of lease options. What I liked was the potential repeatability, without having to find properties 30% below market, like so many are trying to do at the moment. The option focus is on being a landlord/seller - no complications of sandwich options etc. There is a single case-study, which is detailed - although it would be nice to know how it actually turned out in the end! The forms and sample agreements really add value.
A Great Introduction for the Begining Investor December 8, 2007
2 out of 2 found this review helpful
I am a beginner investor looking for guidance on getting started in real estate investing. This book explains a fundamental way to invest in real estate. The author has done a great job in describing a method to quickly get properties cashflowing positive and has many tips and pointers in the process.
This book is a very easy read. I finished the book in a bout two days. I believe this book is written more as a starting point. The Author focuses mainly on the basic process of buy homes and re-selling them though options to create cashflows. It leaves out the finer details of investing for example, economic real estate cycles or how exactly is economic growth determined to insure we are buying in the right area. However, as a starting point the overall book well done.
One thing to note is that the methods here are meant to be applied to the lower price ranged homes. Positive cashflow may not be likely if you live in California or some other place where the low-end pricing is 450,000 or more. The method is still a worthy technique to know and could be used on any price range so long as the market will pay the prices your asking.
For anyone that needs a spark of new opportunity in real estate and an easy read, pick this one up. After reading this book, my own perspective of investing in real estate has changed. The methods described in this book is a great addition to add to your "quiver" for future real estate opportunities.
 DISCLOSURE: A Message From The Author October 30, 2007
0 out of 2 found this review helpful
The book is an excellent, practical guide to building wealth through residential real estate investing and comes complete with all of the forms, checklists, and worksheets needed. As good as the book is, many have requested the forms in a downloadable format, so that they could be modified and printed according to the individual investor's needs.
The new companion CD to the book is a "Must Have" addition that includes all of the forms, checklists, etc., plus over an hour of audio commentary by the author, and a downloadable "marketing manual" with new materials that were not included in the book. This companion CD is a "Must Have" addition:
The WealthLoop Series Beginner's Guide to Building Wealth Buying Houses (Combo Audio/Data CD): Author's Audio Commentary Plus Downloadable 32-page Marketing Manual, Checklists, Spreadsheets, and Forms.
A related program worth looking into is:
The WealthLoop Series Beginner's Guide to Personal Wealth Creation (Combo Audio/Data CD): Audio Seminar With Downloadable 40-Page Action Manual and Active Link Library. It's a dynamic discussion of universal wealth principles that lead to financial independence and time-freedom, and includes a downloadable 40-page "Action Manual" that provides a framework within which anyone, with some effort, can realistically create a life of automatic income streams and wealth.
An absolute "must-read" for any prospective real estate investor September 6, 2007
6 out of 6 found this review helpful
Real estate broker, licensing instructor, and investor John A. Michailidis presents Beginner's Guide to Building Wealth Buying Houses: The Foolproof Roadmap to Real Estate Riches Without the Risks and Hassles of Landlording, a straight-talk guide to amassing a personal fortune through real estate assets. Defining wealth as "automatic income streams that are independent of your personal labor, and that are sufficient to maintain your chosen individual lifestyle indefinitely," Beginner's Guide to Building Wealth Buying Houses proves especially valuable to readers who are relatively new to real estate. While buying properties with intent to turn them around and resell them - "flipping" - is covered, Michailidis stresses that this form of real estate investment requires expert-level knowledge of local market conditions, and that and ordinary people can easily get burned. Instead, the primary focus is on how to acquire properties and use them to generate revenue streams through renting, or better yet, rent-to-own arrangements. Houses are recommended for beginners since they tend to attract more stable and reliable tenants than apartments. Chapters cover the economics of single-family houses, the right way to present offers, how to attract quality tenants, proven negotiation tactics, and much more. An absolute "must-read" for any prospective real estate investor, as well as anyone who dreams of becoming financially successful and secure.
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