The Automatic Millionaire Homeowner: A Powerful Plan to Finish Rich in Real Estate

ISBN: 0767921208
ISBN 13: 9780767921206
By: David Bach

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Genres

Business Currently Reading Finance Financial Money Non Fiction Nonfiction Personal Finance Real Estate To Read

Reader's Thoughts

Jonathan Dunning

It was an ok book but the chapter on mortgages felt like it went on forever. And, I doubt half those mortgages are even offered now that the economy tanked. There were good ideas in the book, but I was hoping for something more.

Daisy81

His main secret is...Don't sell your first home, rent it and use the money to pay for your second home.

Alicia

This book is great for beginners that just want to learn what options are out there. This book provides a detailed description of loan options in easy to understand terms. This book is perfect for everyone to read before embarking on any home ownership transactions.

Chelsea

I am on a self-help frenzy, and this series of books have been thought provoking and inspirational if you are looking to improve your current financial situation. I would not say these are the end all be all in finance books, but definitely worth reading if financial planning is up your alley!

Jeff Noble

The Automatic Millionaire Homeowner: A Powerful Plan to Finish Rich in Real Estate by David Bach (?)

Katherine

I read this just out of college, and it gave me some great ideas. It is a realistic approach to how an "average Joe" can get ahead and become a multi-property owner in his/her lifetime. Very doable! :)

Ryan

Wow. This book was written at the height of the housing bubble. As such, many of its assertions are downright laughable. For example, the author claims anyone can (and should) get a home loan, even if you have bad credit and no money for a down payment. Also, the author reasons that the average income of homeowners is greater than that of renters; therefore, if you want a higher income, buy a home. Are you kidding me!?! Correlation is not causation.Certainly there were a few good principles in this book (which are outlined in it's parent the Automatic Millionaire), but many of the assertions and assumptions were so ridiculous, I must recommend not reading this book. Disclosure: I must admit I did not completely finish the book; it was just too painful.

Alexis

I picked this up because I had been promised comic relief in the context of a guy telling you to buy as much house as you can afford and the possibilities of "incredible" no-money-down or variable rate mortgages ...in 2006.But actually he did offer a fair bit of caution and there are some interesting tidbits if, like me, you're unfamiliar with house buying.

Jason

Definitely a good plan. It has helped me realize some of the places where I was wasting my money and helped me eliminate most all of my debt. Consider this book before going to those "debt elimination" services.

Alana

This book was fantastic and I recommend anyone looking at buying a new home to read it to become educated. Since I have already been through the home-buying process, I knew a lot of what the book was explaining, however, I did still learn a lot of information that I can use in the next time I purchase a home. Although I would rather be rich now and this book, along with the rest of his Finish Rich series, is in hopes of preparing you to plan for your future retirement years and years down the road, David Bach provides low risk opportunities for investing. In the situation I am in right now and the way the economy is, reading this book just comforted me on making the right decisions and reminded me why I bought my home in the first place. As many people know, Garrett and I have a love/hate relationship with our home and as we sweat over maintaining a nice living space and area, it will be worth it later in life when we can 'finish rich.'

David

My attention to detail skill was absent when I bought this audiobook on iTunes. I wanted The Automatic Millionaire, but bought the Real Estate version by accident. While I still want to go back and read that book, I cannot recommend this particular book. Bach begins by stating the stock market cannot produce the returns of real estate. His disclaimer is the book is written in 2006, so some things may change when the reader goes through it. He mentions his methods are timeless because everyone needs a home. He discusses building wealth through borrowing other people's money. While he spend 12 chapters talking about building a portfolio of real estate, he does not adequately discuss risks invovled. I give him credit for stating that "get-rich quick" does not work and that the reader should take tiime to build their real estate wealth. This is because the home is one of our most valuable investments. I just cannot begin to agree with his methods of using debt to build wealth. If you read the Total Money Makeover by Dave Ramsey and you want to know what this book talks about, then here's what you will find. Take most of Dave's principles and do the opposite. If you go this route to build wealth, keep Dave Ramsey's phone number ready to call when the banks start calling in your notes. I'll take financial peace over wealth with debt any day.

Shaeley Santiago

Similar ideas to Bach's The Automatic Millionaire: A Powerful One-Step Plan to Live and Finish Rich only with specific application to owning a home (mortgages, etc.).

Darin Davis

The second book in my recommended curriculum of self-study on personal finances and investing. See www.ProfitableForAllThings.com for more details.

Kim

According to this book the key to becoming a millionaire is to never sale your first home. Keep it and rent it out. It was an interesting book with a lot of good advice on money and real estate.

Melissagnh

This book was passed on from a friend... Interesting...Not a millionare, but showed me how to save alittle

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