Investor · Wheaton, IL · Member since 2013 · 77 posts · 17 votes
12y
Let me start by saying this. I have not read this book. However I have read a bunch over the years, and I can tell you that many of the strategies that will be found in this book may no longer be allowed by banks, or in some cases even still be legal. Being that this book was written in 2004, it is likely a safe guess that much of the financing advice will no longer be sound. Though much of the other advice may still be relevant. I would look for a book written since 2010. That is just my opinion.
Investor · Wheaton, IL · Member since 2013 · 77 posts · 17 votes
12y
Let me start by saying this. I have not read this book. However I have read a bunch over the years, and I can tell you that many of the strategies that will be found in this book may no longer be allowed by banks, or in some cases even still be legal. Being that this book was written in 2004, it is likely a safe guess that much of the financing advice will no longer be sound. Though much of the other advice may still be relevant. I would look for a book written since 2010. That is just my opinion.
Flipper/Rehabber · West Hartford, CT · Member since 2013 · 128 posts · 52 votes
12y
@Account Closed like you hinted in your original post, many of these real estate books are written with catchy titles. Although that may help the marketability of the books, you'll often find that many of them contain outdated, theoretical information.
Bill Gulley and many others on the forum are huge proponents of "learning the basics" first. Once you learn the basics, you'll begin to understand the more sophisticated aspects of RE/REI more easily. A good way to learn is by getting your RE license. Although becoming licensed isn't mandatory, it certainly helps with covering the basics if you're brand spanking new to RE like I was :)
Maastricht, The Netherlands · Member since 2013 · 131 posts · 18 votes
12y
The Millionaire RE Investor is still evergreen, even with the title (and the first half of fluff). But I do agree: 2004 is old if no updates have been published. There are lots of great books on the subject from the past three years, focus on that.
Real Estate Agent · Virginia Beach, VA · Member since 2012 · 2k+ posts · 1k+ votes
12y
Just wanted to add that most libraries these days have free online access, so it's easy to read many books on subjects you are interested in for free. I find it better to read as many as possible on the same subject as you definitely find themes running through them all, just stated differently, but most are not worth the cost of the book as they just state the same old themes in a different way (which is also valuable to learn as you won't be as susceptible to whatever new guru is asking for your money). I combine notes on the best ideas in each book so I have my own personal reference guide.