Category: (Book)
7 new, starting at $12.60
6 used, starting at $11.50
This award-winning book describes how to get started repairing houses and renting them out in your spare time. It covers various components such as house selection, what to repair, handling tenants, managing the books, and taxes. The book describes the two safest ways to make money in real estate, and one chapter is devoted the the "Zen of Repairing Properties." The author uses illustrations from his own experiences, humor and motivational examples to encourage the reader down a path that will be rewarding on many different levels.
What am I missing?Reviewed by David Reasoner, 2009-07-30
This book was a major disappointment. I must be reading a different
book than everyone else. There is very little substance and a lot
of generalities. I really don't care about how fixing up a place
provides personal satisfaction. I am more interested in how it puts
money in my pocket.
This book assumes real estate always appreciates on an annual
basis, that leverage is always a good thing, and that you are
always money ahead to perform a repair yourself. The key point may
be that the author looks at real estate as a hobby. I view real
estate as a side business and my goal is to put cash into my
pocket.
You would be better served tracking down a copy of William
Nickerson's "How I Turned $1000 into (1,3,5) Million", any of the
Jay DeCima books, or H Roger Neal's book on streetsmart
landlording.
I have to review the return policy and see if I can recoup some of
the money wasted on this book.
Incredibly rudimentary, very little meatReviewed by JS06830, 2009-06-05
Please save your money. Amazon reviews are generally pretty spot
on, but I genuinely don't understand the rave reviews here. This is
a very slim book, huge font, filled more with this guy's life
philosophy than how to fix up and rent out houses. There's nothing
wrong with his philosophy. The author comes across as a
self-reliant, modest guy with a strong work ethic and some good
life perspective. However, it would be an extreme exaggeration to
call this a book on "how to start your own house fix-up &
rental business..." The sections on identifying, financing,
repairing, and managing rental properties are covered at a very
surface level. You can easily find all of this information for free
online, in one of many intro articles to real estate investing.
I've read many real estate investing books, and there are many,
many better books out there.
I guess on the positive side, it only took me a 40 min train ride
to read the entire book, so at least I didn't lose too much of my
life on this.
Interesting and inspirationalReviewed by folderol50, 2009-01-14
After reading this book you may change your approach to life even if you decide fixup houses are not for you...it is concise and filled with useful information and inspirational encouragement.
Add this book to your REI libraryReviewed by Boomer, 2009-01-10
I recently ran across this book after reading Terry's blog. In
fact, I just finished reading it today over my morning
coffee.
I recommend this book for any aspiring (or greenhorn) real estate
investor. Having just completed my first fix up, I learned much
from Terry's methods but I especially related to his philosophical
approach to life in the world of real estate investing. In fact,
one might subtitle this tome, "Zen and the Art of Rehabbing".
Blended with this extremely practical and useful guide to finding,
fixing and successfully renting properties are the intangibles of
rehabbing and landlording. Terry waxes about the pride he feels
from taking on and completing a repair job and the confidence that
builds for tackling more complicated tasks.
Two parts of this book alone make it worth adding to your REI
library:
Chapter 9, "Let the Tax Law Help You Make Money was invaluable to
me. As I mentioned before, my wife and I just completed an
extensive remodel in our SFR rental. Along with my sense of pride
for completing this daunting project, I have several thousand
dollars of receipts stuffed in a file folder. He clearly laid out
the difference between repairs and improvements how the IRS treats
each category. Thank you Terry!
The reference sections in the appendices are as complete as they
are varied. Especially helpful to me was the list of books the
author consulted to write this book.
I encourage you to add this book to your REI library. It's a
keeper.
Yes, you can!Reviewed by N. B. Kennedy, 2008-11-17
I have long been intrigued about investing in real estate but have
hesitated because there are so many scam artists out there willing
to trade on one's naivete and lead you down paths that will end in
ruin.
Making money in real estate the old-fashioned way -- by the kind of
hard work and staying power that Terry Sprouse advocates -- appeals
to both my conservative self and my risk-taking self. For people
like me who haven't yet taken the dive, the best part of this book
is the author's upbeat conclusion that you can accomplish far more
than you ever imagined possible if you're willing to invest the
time and learn the business. If you are intimidated, as I am, by
the thought of even picking up a screwdriver, this kind of
encouragement is invaluable. Terry Sprouse is a credible advocate
because he's been there, and truly has done that.
