Posted by William Flood on May 01, 2007 at 10:25:41:
BTI,
I think you had to be on Allen’s bandwagon at the right time. Right now, he’s much more into the personal development movement. He goes back to 1976 (I came across him in 1980). The only substantial writer on the subject I know prior to him is William Nickerson, and Albert Lowry from Canada.
But, if you are looking at things now and comparing him to, say Lou Brown, Bill Twyford, etc., there’s been a lot under the bridge since the 70’s and 80’s.
I was looking at buying Robert Allens " Nothing Down for the 2000s" and Gary w Eldred “The Beginners Guide to Real Estate Investing”. Are these books a good place to start to learn about investing in real estate. Thank you
Posted by William Flood on April 30, 2007 at 12:51:14:
Norman,
Anything Robert Allen wrote is a ‘must read’. Quite frankly, he was one of the pioneers who started the whole real estate investing movement.
A great one I’d point you to is his book called “The Challenge”. It’s not really instructional per se, but probably one of the best books on getting started you’ll ever read.
By the way, feel free to contact me if you have any questions on getting started. I’m an active investor and trainer myself and work with beginners all the time. I have a pair of blogs and audio Podcasts (free to the public) on real estate investing and I’d be happy to send you the links.
The thing I hate about many of the real estate books that I read is too much BS.
The average 250 page book has about 10 pages of good information. I just wish I could read only those 10 pages and save some time instead of reading the whole darn book.
An example of what I talk about is motivational stuff. Some books have 2-3 chapters just on things like: Why anyone could do it, You could do it if you work hard, Why real estate is the best investment and you should do it now.
Stuff like that annoys me; I don’t need motivational material. I could join an MLM if I want motivational stuff.
A lot of authors also annoy me because they use the typical phrase: “We’ll discuss this topic in my boot camp”; I feel like saying: I didn’t buy your book so you can tell me to go to your boot camp.
But anyway, I like Robert Irwin’s stuff the best so far. The “Buy & Hold” book is also good.
I definitely recommend Robert Allen’s Book as an entry level into Real Estate Investing. Then I would suggest finding a more specific course once you’ve chosen which niche you’d like to carve into. There are a ton of courses available for sale on this site.
Posted by David Krulac on April 29, 2007 at 18:56:27:
I think that Robert Allen’s book is a classic and that it is his best book. Gary Eldred’s book is good not great.
I highly recommend William Nickerson’s How I turned $1,000 into a Million (later 3 and 5 million). I also highly recommedn Buy and Hold by David Schumacher.
There are a ton of real estate books on the market, most are average, some are woefully below average, and only a handful are really great.
I think books are a great place to start, read different approaches from different authors and the price of admission is minimal. Most books are $20 or less, cheaper used, and free at the library.
Posted by RichV(FL) on April 29, 2007 at 18:36:19:
Norman,
Bill Bronchick has alot good stuff. I liked Flipping Properties.
Also “The Unofficial Guide to Real Estate Investing”- Stone/Strauss is another good one.
“Buy and Hold”- David Shumacher, “Buliding Wealth One House at A Time”- John Schaub. Are two other good books.
There is alot out of good info out there…including CREOnline. Go to the Success stories and Money Ideas section. And the info on this site is the best price in town, its all free.
I like Terrence Sanders e-course $10 dollar real estate
@ www.rei-options.blogspot.com. But would love any other inexpensive books or courses that anyone may suggest
Investing books can become hopelessly outdated by the time they hit the bookstores, so you are going to have to develop a wider range of resources than a coupla books. The exception is timeless classics, like Lonnie Scruggs’ “Taking the Mystery out of Money,” which is available on this site.
To learn more about other books, I go to Amazon.com & read the synopsis as well as all the reviews. If it sounds of further interest I either order it used on that site or get it via the library. If a particular book isn’t in your library, the folks there can probably order it through their system.
The Archives on this site are an invaluable FREE resource, & I cannot emphasize too strongly how important it is to network w/investors. You may have an active local REI group. If not, there are always seminars to attend, but make the most of your educational experience by socializing before, during & after the official program.
I’ve been recommending for some time that newbies consider investing in mobile homes to learn the ropes & make $$$ while gaining experience. You can make a lot of mistakes & still make $$$ in MHs. There is an EXCELLENT MH & Land Boot Camp (info on this site) in Asheville in August. I think there is still an Early Bird price, though it expires soon. I go every year because I figure I can’t afford to NOT go.
There is a MH Chat on this site every Wed @ 9 pm ET. Lots of the folks who participate in that are Boot Camp alumni, so you could join us later this week & get any questions answered. Good luck!
Posted by M. Osterman on April 29, 2007 at 09:59:23:
I’d go to www.johnreed.com and see what he has to say about books to get. He has two "how to buy RE at least 20% below market value Vol. 1&2 " Each are packed with good solid stuff. No fluff.
Glad to see your posts showing up, but in my lifetime Robert Allen was a johnny come lately and he added nothing to the education of me or the fellow investors I interacted with. I will concede he was a early 'guru" or seller of real estate info, but a founder of the real estate movement, not even on a good day.
Keep on posting though, I was going to officially retire August 1st but two of my older brother’s grandchildren and their new spouses are scheduled to get out of the service when they return from Iraq.
My brother had promised to mentor them at that time but died from injuries received in an accident so I’ve agreed to be his replacement and be their mentor. Their first assignment is to start reading this site from Iraq, so keep on posting.
