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The Millionaire Real Estate Investor

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4.22  ·  Rating Details ·  1,129 Ratings  ·  65 Reviews
This book is not just a bargain, it s a steal. It s filled with practical, workable advice for anyone wanting to build wealth. Mike Summey, co-author of the bestselling The Weekend Millionaire s Secrets to Investing in Real Estate

Anyone who seeks financial wealth must first learn the fundamental truths and models that drive it. The Millionaire Real Estate Investor represe
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Paperback, 408 pages
Published April 7th 2005 by McGraw-Hill Education (first published January 1st 2005)
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Sean
Mar 12, 2008 Sean rated it it was amazing  ·  review of another edition
Shelves: self-help-books
Best Book on Real Estate Investing that I have read. Gary Keller is an excellent writer. He describes several strategies on real estate investing and creates a cohesive and detailed account. It will inspire you to start investing! Wealthy people pay themselves first and invest in assets (anything that puts money in your pocket each month). Even if you are saving money each month to eventually buy an asset you are headed in the right direction. It you only owned 4 rental properties (debt free), y ...more
Kyle Brown
Not sure how much of the info in this book will be a take away for me personally. As predicted, the book like many real estate investing books seems to promote highly leveraged positions on holdings and seems to negate the risk of assuming all of this debt with the assumption of purchasing the property at a severe discount. I did like that the author clearly did a ton of research with actual investors (including himself) that are in the trenches and know the nuts and bolts of making money in rea ...more
Carole
Aug 23, 2013 Carole rated it it was amazing  ·  review of another edition
I have read over 30 real estate books, and I think this is one of the best. It gives a good roadmap to the journey of real estate investing.
Darin
Feb 13, 2010 Darin rated it really liked it  ·  review of another edition
*Required reading*

Financial independence is what most people call retirement. That is finally having the resources to live without working. The reality is that most people today reach retirement age without those resources in place. There are no more golden parachutes, no more pensions, and social security is a bigger oxymoron than the term military intelligence.

People must realize that retirement is an individual matter. It cannot be left to fate or to chance. It must be planned for and worked
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Seth
Jun 22, 2014 Seth rated it really liked it  ·  review of another edition
Shelves: 2014
Parts of this book pissed me off. A lot of baby boomers, in the old economy, talking about how smart and savvy they were when they made it big.

I nearly threw the book, reading the gem about the guy who was "so savvy" that he bought his first investment property with money he saved from a part time job.

Sorry guys, but it just doesn't work that way any more, perhaps you were smart and savvy, but you were also operating in a completely different world: a world where you could work your way through
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Tim O'Hearn
In a bull market, everyone seems like a genius.

Though the advice contained in this book is, in general, sound, following it will lead the average American on a sure path to misery. That is probably why the first section—almost 100 pages—is a rambling pep talk with about as much relevance to real estate as real analysis. The book fails because it does not do enough to explain the harsh realities of real estate investing.

The market might trend upward, but a "buy and hold" investment made at the w
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Tao Lee
Jan 18, 2017 Tao Lee rated it it was amazing  ·  review of another edition
Slow starter, but I've gained a great amount of knowledge from this book. It gets more interesting at the end. I definitely will be reading this book again.

Note to self: The Millionaire Real Estate Investor - think a billion buy a million own a million and receive a million. Financial rich stops when you stop working. Financially wealthy is when you make money when you don't work. If you double your time, money and ability - you 8 fold your current investment potential! Buy Books and seminars.
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Brandon
May 14, 2015 Brandon rated it liked it  ·  review of another edition
Shelves: read-in-2015
Pretty good introduction for me into some of the vague issues of real estate investing. I appreciate that the author is someone who has built a successful (and verifiable) business tied to real estate business. His firm in successful, and he doesn't pitch get rich quick schemes.

If I did have a quibble, the author repeated refers to investing at 20% price discount to market. Never once does he delve into how to make these sorts of deals materialize. Worse, and compounding this issue, is that many
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Henry Barry
I couldn't have asked for a better introduction to real-estate investing. Keller takes you through the entire process, from humble beginnings as you learn to make your own personal budget so you'll save enough money to start investing, all the way to the (possible) endgame, where you run a real-estate empire. The book is very methodical and repetitive at times, but has a lot of solid information in it. Not only that, but the book has a lot of great advice that applies to whatever career you emba ...more
Maliades
Jan 17, 2009 Maliades rated it really liked it  ·  review of another edition
This book makes me believe that I can actually become a Millionaire Real Estate Investor! It was a gift from our realtor (we just closed on our first house). I started reading it almost right away, and a few days later I'm almost done. The book includes inspiring interviews, tips, and tidbits from real-life Millionaire Real Estate Investors, and also provides you with some of the tools (such as financial spreadsheets and calculations) that the Millionaire Real Estate Investors use. If you are in ...more
Brian David
Jul 03, 2016 Brian David rated it it was amazing  ·  review of another edition
A practical, easy-to-read how-to for anyone "stuck" with an extra house after the recession (first world problems, I know). I have been stressing about dumping that thing for five years. Now I know that paying it off as fast as possible and keeping it will benefit us later. I wish I had read this when it came out years ago! I'm not sure I'll ever be a fancy slum lord, but some new options are great to have.
Uriah Mccall
Apr 07, 2013 Uriah Mccall rated it really liked it  ·  review of another edition
The author addresses the significance of right thinking really well. He goes on to provide an overview of the different stages of the investors career and their respective challenges. Many diagrams and illustrative stories kept the book interesting and effectively communicated his ideas. The final chapters did not flow as well as the beginning chapters. This book is all about the fundamentals of your investment career, so don't read this book if you are looking for a recipe for success.
Mark Heiliger
Not only is it dated and simplistic, it also assumes (insanely) that every purchase you make will be 20% under market value. So yeah, easy to see how one could become a millionaire if they had a magic ticket to get every piece of real estate for 20% less than the buyer is asking, then resell it at 100%. Pure nonsense.
Arthur Martiroso
May 30, 2016 Arthur Martiroso rated it it was amazing  ·  review of another edition
Shelves: 2016
This book definitely makes it on my #billionaire reading list! Real estate is a great investment and an awesome way to build wealth and financial independence. Being in the business and running a successful #realestate team we know because we have helped many investors achieve their #realestate goals with our team #dnarealtygroup!
Adam Fortuna
Feb 16, 2015 Adam Fortuna rated it really liked it  ·  review of another edition
The other real estate books I read gave a more beginner approach to buying and holding houses, but this one used that as a starting point to theorize on how far you could go if you kept it up. Now, I don't think that's for me, but it's interesting to hear about what kind of commitment you would need to buy that many houses, or manage that many.
Brad Barkel
Mar 18, 2016 Brad Barkel rated it really liked it  ·  review of another edition
Good book with a lot of quality information and different approaches to real estate investing. Not every method works for everyone and certainly not everyone will be comfortable with some of the risks and strategies others take when investing in real estate. Overall though it's very insightful and a good complement to a few other key books of this nature.
Jim
Mar 02, 2014 Jim rated it really liked it  ·  review of another edition
This should be required reading for the novice looking to use real estate as a way to diversify their investment portfolio. Keller does a fascinating job providing a variety of investment strategies with real-world accounts. He also delves into the intricacies of the business. I especially appreciated the vignettes at the end that inspired the book's main concepts.
Anik Singal
Lots of general content and not enough specifics that would allow me to dive in. There was so much time spent on just introductory general "how to be an entrepreneur" - it wasn't what I was expecting really.
Gabe
Aug 19, 2016 Gabe rated it it was amazing  ·  review of another edition
I've read countless books on REI, and this one ranks as #1. It's a soup to nuts manual that will leave you informed enough to get started on your first investment, and shepherd you through each step of the process. If you read just one book on REI, this should be the one.
Carl
Apr 09, 2009 Carl rated it it was amazing  ·  review of another edition
By far the BEST real estate investing book ever written. The author provides clear and concise information about how to succeed in this business -- without the fluff. Best technical guide to Real Estate investing ever, and so well written that it's a breeze to read!
Ozzie Jurock
Mar 17, 2009 Ozzie Jurock rated it really liked it  ·  review of another edition
Shelves: real-estate
A good book...a good re-read...

I like Keller's writing.
Interestingly enough Keller Williams just surpassed
Re/Max i number of Agents in 2008.

I like his Mythunderstandings and his simple direct way to explain...why cash flow real estate is good.
Seth Jenson
Just finished this one. Great book. Investing simplified. Now I just need lots of capital to play with! All in good time I guess. I have 9 extra copies. Let me know if you'd like one, and I'll send over a copy. While supplies last!
Adan
Sep 01, 2015 Adan rated it it was amazing  ·  review of another edition
Great book. Not only does it give you great ideas but also helps you map out a road to success in real estate investment.
Tony Canas
Aug 04, 2011 Tony Canas rated it it was amazing  ·  review of another edition
The ideas are important although in the wrong hands I'm sure it could lead to disaster... Interesting read and good way to start thinking about Real Estate.
Judy
Jun 11, 2012 Judy rated it it was amazing  ·  review of another edition
So true - so true! Everyone should read this one. Good information. Part of our overall investment plan!
Pat Lynn
Nov 29, 2009 Pat Lynn rated it really liked it  ·  review of another edition
Wow. A whole different world of investing that is way out of my area, but motivational and enlightening. Too bad I have no start up funding.
Travis Madlem
Dec 20, 2014 Travis Madlem rated it really liked it  ·  review of another edition
Shelves: investing
Good overview of real estate investing...parts read more like a self help / motivational book than reference manual.
Eric Hurst
Jan 09, 2013 Eric Hurst rated it really liked it  ·  review of another edition
This is the first book I've read on property investing. Highly recommended. Easily understood, and exciting.
Vincent
Mar 09, 2014 Vincent rated it really liked it  ·  review of another edition
Another great read in a series! All about changing your mindset and practical advice to thrive in real estate.
Tina Marie
Aug 14, 2014 Tina Marie rated it it was amazing  ·  review of another edition
A great read and simplistic in its details for any new real estate investor. I definitely recommend it to anyone interested in real estate investing.
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Professionally, Gary’s ONE Thing is teaching. He excelled as a real estate salesperson by teaching clients how to make great buying and selling decisions. As a real estate sales manager, he recruited agents through training and helped them build careers the same way. As co-founder and chairman of the board, he built Keller Williams Realty International from a single office in Austin, Texas, to one ...more
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“All great achievements are the result of sustained focus over time—all of them.” 1 likes
“In the end it’s the tax-deferred 1031 exchange that gets massive use by Millionaire Real Estate Investors. This program in the IRS tax code allows you to sell and buy properties without having to declare capital gains or pay those taxes. It’s a very straightforward procedure, but it takes some planning. First, you need to hire a 1031 Qualified Intermediary before you close on the sale of one of your properties. That person will act as your guide and escrow agent as you move through the sale of one property and the purchase of the next. After the sale of your “relinquished property” you have 45 days to identify the “replacement property” and a total of 180 days to close on that second property. You want to be looking for the replacement property before or during the marketing of the property you are selling. If you find a good opportunity, you can enter into a contract with a right to assign clause if your first property does not sell or with a 1031 clause in the purchase agreement if it does. Many people have the mistaken notion that you are exchanging your property with someone else: You take theirs, and they take yours. In some cases that can be done, but it is neither the purpose nor the requirement of a 1031 exchange. A 1031 exchange is designed for you to “exchange” one property in your portfolio (sell it) and replace it with another one that you wish to buy. It allows you to keep purchasing larger, more expensive properties without having to pay capital gains taxes on the ones you sell. This is a wonderful way to keep your money working for you.” 0 likes
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