Book Review: The REAL Book of Real Estate by R. Kiyosaki
This I believe was the next book that I picked up. Lots of good info here, but a lot of gurus too. Be warned. Lots of links to web sites and so on. I was a newbie, so I checked out a lot of stuff, etc. Now I'm not saying it's a bad idea to check out stuff, when you are a beginner like me and don't know about BiggerPockets.com like I didn't know, you do things like that without knowing what you are getting into.
The best thing I got out of the book was that it covers a lot of areas. It basically has 4 parts: 1) The Business of Real Estate, 2) Your Real Estate Project, 3) Creative Ways to Make Money in Real Estate, 4) Lessons Learned.
Basically every chapter is written by a different author, with an intro by Robert.
I think the information is valuable to review and look back on. This book might even cover topics covered in the recent BiggerPockets summit - but it is NO WAY even close to the quality and the opportunity to meet the people behind the topics and judge from personally interacting with them!
Cost of this book: < $10 on Kindle I believe I paid for it, then I paid for it by signing up for Rich Dad Coaching and for other things... Rich Dad Coaching wasn't bad, I just think its value isn't what I paid for it. But hey, it's one of the things that keeps Robert Kiyosaki in the "Business" quadrant isn't it?
My journey has been an interesting one, that's for sure! 6 months later I still haven't made one deal, but I have learned to track my time better, pay myself first, and acquire a genuine interest in making money in real estate. I have learned about my market, how to analyze properties, etc. And I'm not giving up! My first deal will come, then the next and more and more until I fulfill my dreams.
The best thing I got out of the book was that it covers a lot of areas. It basically has 4 parts: 1) The Business of Real Estate, 2) Your Real Estate Project, 3) Creative Ways to Make Money in Real Estate, 4) Lessons Learned.
Basically every chapter is written by a different author, with an intro by Robert.
I think the information is valuable to review and look back on. This book might even cover topics covered in the recent BiggerPockets summit - but it is NO WAY even close to the quality and the opportunity to meet the people behind the topics and judge from personally interacting with them!
Cost of this book: < $10 on Kindle I believe I paid for it, then I paid for it by signing up for Rich Dad Coaching and for other things... Rich Dad Coaching wasn't bad, I just think its value isn't what I paid for it. But hey, it's one of the things that keeps Robert Kiyosaki in the "Business" quadrant isn't it?
My journey has been an interesting one, that's for sure! 6 months later I still haven't made one deal, but I have learned to track my time better, pay myself first, and acquire a genuine interest in making money in real estate. I have learned about my market, how to analyze properties, etc. And I'm not giving up! My first deal will come, then the next and more and more until I fulfill my dreams.
Comments (3)
Hi Jimmy what you wrote in your last paragraph inspires ME to keep at it. Its been 5 mths for me and I still haven't done my 1st deal but I feel the same like you, and I too am NOT giving up on my dreams. Thank you for posting this.
Lucy, over 11 years ago
Thanks for the kind comments. For lots of us beginners, time and money to invest is an issue. Building a team and finding investors who have money that can trust you takes time. One thing I have done recently is purchase land in areas that may grow and that I would possibly build on in 5-10 years. Undeveloped land is cheap, yearly taxes aren't too much of a burden and of course as in most cases with real estate, as you add amenities (water, utilities, roads) the price you get when you sell can be substantial. It also takes time and money to do those improvements. Slow and steady finishes the race too - and sometimes even wins!
Jimmy Devenport, over 11 years ago
Have you read Keller's Millionaire Real Estate Investor? I have done 16 deals, and still get that book out to remain focused on my goals. It has been highlighted in triplicate! There are a number of matrices inside showing how many houses to buy, under a specific set of criteria, in order to reach your cash flow or equity build up goals. Very valuable to me, too, are a number of interviews with millionaires, showing how they worked one particular niche to build their wealth. The book you reviewed above didn't speak to me at first read, but I've gone back to re-read sections, such as entities, taxation, larger developments. It isn't a book to guide newer investors, imho. Glad to read your reviews.
Kerry Baird, almost 12 years ago