Levelheaded investment advice from a real estate expert.
This debut guide’s promissory title may smack of get-rich-quick innuendo, but it instead takes a straightforward, low-key approach to real estate investing. The author, a professional with nearly four decades of real estate experience, walks readers through the process of investing in real estate properties, using plenty of examples from his own evaluations and purchases. In short, easy-to-understand chapters, he offers sensible advice while explaining key concepts such as the financial capacity to invest, due diligence on properties, effective real estate partnerships, and a property’s income potential. Along the way, Johnson addresses more personal, philosophical issues; for example, his discussion about identifying “emotional triggers” (“the experiences in our lives that have impacted us and identify what really motivates us”) gives the book a thought-provoking depth and lifts it out of the how-to-invest genre. On the practical side, the author encourages budding investors to view property as an accumulation of assets rather than a buy-and-sell opportunity: “Accumulation is the number one ingredient in building net worth,” he writes. In another chapter, Johnson takes direct aim at people who pitch the notion of buying property with little or no money down: “Nothing-down deals give an investor a larger monthly payment—and big headaches—if everything doesn’t go exactly as planned,” he counsels. Although the author is generally bullish regarding his subject, he tempers his enthusiasm with a down-to-earth pragmatism. Throughout, he comes across as knowledgeable, wise, and sincere as he shares his own ups and downs, as well as tricks of the trade, to help prospective investors achieve success.
A highly useful, authoritative work that should serve as a fine primer for anyone pursuing real estate investment.