2 Years to a Million in Real Estate

2 Years to a Million in Real Estate

Product Type: Book

Product Price: $21.95

Manufacturer: McGraw-Hill

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Description

Quit your day job!

Make a million in real estate!

It's easier than you think!

A few years ago, Matthew Martinez was a lot like you - he worked hard to make as big a salary as he could. But it wasn't enough. He worked by the clock, and yearned to be his own boss. With a small amount of savings, he acquired his first rental property. Two years later, he was making more from his rentals than he was working 9 to 5, so he quit his day job to oversee his real estate investments. Today, he enjoys a multi-million-dollar collection of income-producing properties--and he's ready to share his money-making strategies so you can begin your own journey to career and financial independence.

Two Years to a Million in Real Estateshows you everything you need to know, including how to

(20061208)

Reviews

Rating: 5 / 5
Date: 2010-08-30
Summary: "Real info and not a motivational seminar ploy"

What immediately sucked me into this book was the personal story of how Matt Martinez became a real estate investor. He had concern for his job security, and his drive to liberate himself from his job made him obsessed about finding the right properties. Unlike any other real estate investment book, Matt's story is personal, real, and achievable for people who have the discipline to achieve their own financial independence - sooner rather than later. Other books tend to say "I borrowed $5000 from a friend and now look at me, I'm rich!" Martinez is different. His first property required a lot of research and he financed it with an equity loan from his own house. He then leveraged the equity in his other properties over 2 years to build enough passive income to quit his job. Then when the headaches of managing the properties became too great, he sold them and acquired a larger apartment building and hired a property management firm to take care of it for him. His strategy changed from triplexes and four-unit buildings to multi-unit, multi-story apartment buildings all over the nation.

There is good technical info in here as well about methods to keep units rented, how improvements can attract higher rents, finding a property with a good cap rate, and so on. Cap rate was a term I had heard but didn't fully understand until I read it in this book (also described very completely in "What Every Real Estate Investor Needs to Know about Cashflow... by Frank Gallinelli).

I am greatly looking forward to his next book on investing in the new economy. This one was written prior to 2008. Before, it might have been easy to secure a home equity line of credit (HELOC), and then draw upon it to produce a down payment for an investment property. With just the right property even the payments on the principle + HELOC could be covered and there may still be enough for positive cash flow. How is it possible to obtain this financing today with banks now gunshy about the housing market? Martinez will evidently address this in his next book, which should be coming out shortly.

Rating: 5 / 5
Date: 2010-08-10
Summary: "Great info and an easy read!"

This book was great! It has a lot of usual information about getting started in real estate and was very easy to read and understand. Most people assume that you have to have money to make money in real estate but Matt gives a lot of useful tips on starting with little money (as he did himself).

Rating: 3 / 5
Date: 2010-08-08
Summary: "A Good Read for the Beginner"

This is a good book to get an overview of a successful real estate investor. Book is not for the experienced investor, unless they have been unsuccesful w/ their current practices.
As a newbie, go ahead and read, but don't look for the keys to being really successful, look to this book for the basics.

Rating: 5 / 5
Date: 2010-07-12
Summary: "success in inevitable????"

While this book may rise above some of the others in the genre it's still a tough sell for me. He talks of a high water bill because of filling a swimming pool, but I can top that with a $3,000 water bill. The tenants turned the water back on after the city shut it off for non-payment. Because of books like this, plus Robert Allen, and Carlton Sheets, I'll be in bankruptcy court soon. But hey it was an adventure. I got a great book out of my ups and downs in real estate investing in Akron Ohio. HOUSES OF CARDS recently won and IPPY award. If you want to follow the advise in this book I think you should read mine first! It shows a more realistic view. I own 12 single family homes, have a half a million in debt and it took me eight years!

Pamela Frost
Houses of Cards

Rating: 5 / 5
Date: 2010-06-05
Summary: "Great Information and very detailled"

Really goes into all aspects of the business, from valuation to property management. It isn't easy but you can really save some time (and money!) by learning from Matt's experiences.