Nickerson has not really changed his tune since producing the classic Howl Turned $1,000 into $1 Million in Real Estate--In...

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NICKERSON'S NO-RISK WAY TO REAL ESTATE FORTUNE

Nickerson has not really changed his tune since producing the classic Howl Turned $1,000 into $1 Million in Real Estate--In My Spare Time, which has gone through enough editions to push the titular jackpot to $5 million. If somewhat familiar, his safety-first advisories remain very sound. To illustrate, he still favors residential housing that can be fixed up for resale or rental. No fan of gimmicky financing, he cautions against nothing-down purchase agreements and relying on inflation to salvage bad deals. Along similar lines, he advises foregoing renovation projects that do not promise at least a two-for-one return on investment. Using as exemplars a go-getting couple named the Wrights (who parlay a $5,600 nest egg into property worth nearly $3.3 million over a 49-month span), Nickerson provides step-by-step instructions on how to identify and capitalize on reclamation ventures. While he includes a wealth of detail on subjects ranging from landscaping, laundry facilities, and submetering of utilities through tenant screening, it's very clear that assertive negotiating skills are a crucial ingredient in his formula for real-estate success. On occasion, the author waxes overly rhapsodic about property's possibilities, e.g., ""Elegant Victorian homes are sprawled like sleeping white elephants across the country, needing only a little prodding to be wakened and put to work."" In addition, his text offers fewer do-it-yourself tips than Richard H. Jorgenson's Hidden Wealth in Local Real Estate (p. 1099). Though perhaps less appealing to the sweat-equity crowd, Nickerson's upbeat guide furnishes sound counsel.

Pub Date: Oct. 1, 1986

ISBN: N/A

Page Count: -

Publisher: Simon & Schuster

Review Posted Online: N/A

Kirkus Reviews Issue: Sept. 15, 1986