Who can I trust?

Question

I read a post here awhile back, of all the most inspiring books that people here have read.  I have read a few of them, only to find out that the authors are not really who they say they are, and some of them a actual frauds.

So, what do I do?  What books are out there with real, accurate real estate information?

I read rich dad poor dad... and while it was a good read, I really think that some of the stuff he is teaching is wrong... if not illegal.

I read no money down, and have come to find out that the author really doesn't practice what he preaches... so you can see my problem.

Any GOOD books that you guys could recommend would really help me out.

thanks.

Eric Medemar · Answer

Do as the Buddha says and "Believe nothing", take in as much material as needed in order for you to achieve success.  I read up to 4 books a week, I dont agree with all of them, but I am not closed off to them either.  Try to keep your mind open to every thing so that you don't end up with a cup so full of knowledge that there is no room for more.

Warning, if you are a newbie it may actually help to go on a info diet.  Too many newbies get so caught up in gaining knowledge that they become frustrated because of the huge number of varying opinions out there.

Matt Allen · Answer

thanks for the tips!

You would still recommend "No Money Down" even though the author is not really who he claims to be?  Does it still have some good information in it?

Account Closed · Answer

I recommended Nothing Down. I do not recognize the book "No Money Down". You seem to know a bit about it so tell me who the author is. If I happen to know about the author then I can comment a bit.

Are you a new investor?

One of the things you will notice in most RE investing books is the devil is in the detail. To sell a book to a lot of people the authors tend to leave out a bit of the details that would be specific to a particular state. Normally the math works in any state but the exact process might not. Or the process suggested is used in specific types of markets. Similar to dressing differently based on the weather.

It can take time to build up a broad understanding of the RE market in the US. Partially because until your market experiences certain conditions you will not be all that experienced with the strategies that work in various cycles.

The great think about most of the better books is you can keep going back to them as the market changes to see what they say. As you gain experience you will also recognize details that you missed the first time through the book.

John Corey

Account Closed · Answer

Wealth Protection - William Bronchick
Nothing Down - Robert Allen
Weekend Millionaire - Mike Summey

No book is perfect. Even if everything is accurate and current that does not mean it will work in your specific market given your present situation.

While there are some that are closer to fraud that is less likely when the book is sold in bookstores compared to being sold as a course/seminar. Even some of the less well written courses can have useful, accurate ideas that work in specific situations.

If you are unsure about something you read (a tip or technique) just post it here and you will get feedback.

John Corey