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

Darin Davis

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

Daisy81

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

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

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.

Nathan

Some things in here I know I'm going to use! The best part about this book is that the author repeats many times, that people who buy lots of houses just to flip them are stupid jerks who ruin it for everyone else.

Jill

Again with Bach, this book shows you how renting gets you nowhere, and buying gets you rich!I'm currently re-reading it.

Dena Harris

I think this is a good book if you want to increase your understanding on making money (long-term) by means of owning homes-I would much rather read something entertaining though!

Ann

I paid thousands of dollars to learn the information in this book the hard way over 6 years...Wish I had found this faster and before all the other classes.Very easy to read, bit by bit, and chapter tips at end keep readers on track to actually apply the advice here easily.

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.

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.

Tony Canas

Bach's ideas are powerful, helped me see why we had to buy a house, the right house, with the right loan.

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.).

Grace

Outdated.

Matt

This was a good book. It got me thinking about real estate for a short term. Then I realized I don't have the time, energy or money to follow the plan... but if you do, you will be successful.

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