The Automatic Millionaire Homeowner

ISBN: 0767925459
ISBN 13: 9780767925457
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

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!

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.

Tony Canas

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

Edward Monrad

Worthless book cheerleading investing in real estate as a way to grow wealth over time. Somewhat outdated and doesn't present useful, actionable information.

Sally

There was a really good lesson in this book wich made me hopeful. It was a narrative of a couple who never sold their first home but rented it out and they became very weatlthy by the time they were retired. This encourages me because since we are renting our first house ONLY because it didn't sell, that maybe it will be better for us financially in the future. Overall, I was pretty disappointed in this book. Most of the book was about how to shop for and buy a house. Most things I knew already because I have gone through that two times.

Grace

Outdated.

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.

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.

Jackie C

David Bach's very simple concepts of savings, applied to investment in real estate. A great book for anyone who is almost ready to start looking for a house but still has fear that it's an unreachable or dangerous endeavour.

Lisa Marie

This book changed my life- Followed his direction, 3 months later I was sitting on money. =)Washed away all my debt., started from scratch and Saved. I'm on my second property. Looking for another....in the future.

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!

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.

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.'

Jill

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

Andy Tappa

2005 era real estate advice - yikes! Glosses over most of the risks and downsides to home ownership.

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