Nothing Down for the 2000s: Dynamic New Wealth Strategies in Real Estate
- Book Review,
by Robert G. Allen
From Publishers Weekly
Real estate is both the "simplest, easiest, safest, shortest route to financial freedom" and an invigorating self-help regimen, insists this latest edition of the bestselling financial primer. Real-estate guru Allen’s system has two tenets: 1) buy residential rental properties from desperate "don’t-wanter" sellers, and 2) pay "nothing down," using "Other People’s Money." After a broad but incomplete introduction to conducting and valuing real-estate transactions, he gets down to the nitty-gritty. Tenet 1 requires searching classified ads, hunting for For Sale signs, rummaging through foreclosure, bankruptcy and divorce records and otherwise beating the bushes for motivated sellers, then wangling the price down further. Tenet 2 requires a labyrinth of "creative" financing schemes involving various combinations of partnerships, options, floating bank loans, life-insurance policies, unsecured notes, second and third mortgages on multiple properties and other "paper formulas." Allen sells this program, with much motivational hectoring, as an opportunity for self-actualization. He insists that the only barriers to success are fear and lack of imagination, provides readers with worksheets to help them set concrete goals and discover their purpose in life, and suggests a visualization methodology called Neurobics to get them fantasizing about the wealth that will be theirs in the real-estate business (after an initial "starvation period"). Despite himself, Allen portrays real estate not as a safe and simple road to riches but as an all-consuming life project, full of endless trolling for leads, hardball negotiations, murky wheeling and dealing and sudden scrambles to meet financing deadlines and loan payments. Personality types who thrive on such a highly leveraged career of risk-taking and sharp practice will love this book. Others may balk at the total reconstruction of character and lifestyle Allen’s book appears to demand.Copyright © Reed Business Information, a division of Reed Elsevier Inc. All rights reserved.
Book Description
Real estate remains the only reliable investment in which profits can be made consistently. Whether employment figures and stock prices are high or low, the real estate market never dries up -- it is one of the most dynamic income-producing vehicles ever created. There will always be plenty of foreclosures, which are great opportunities to purchase properties cheaply. Nothing Down for the 200's shows you how to locate the best buys, deal with real estate agents, and manage properties, all with little -- or no -- money down. Discover step-by-step techniques and dynamic strategies to: • Use real estate to build monthly income • Finance bargain properties for equity or cash flow • Obtain direct legal tax cuts • Sell and trade for maximum gain • Increase property value • Use owner financing to create opportunities • Learn effective negotiation techniques, and much more Excellent for beginners or experienced investors, Nothing Down for the 200's is the key to generating low-risk, high-profit wealth, and to a potential future of security and financial independence.
Download Description
With more than a million copies in print, Robert Allen's Nothing Down for the '90s has probably helped more people achieve success in real estate than any book in history. Countless numbers of his readers are now financially independent and many actual millionaires attribute their wealth to his techniques. Why has this blockbuster bestseller been so successful? The answer is simple: it works! Now, in one of the most practical books you'll ever read, Robert Allen has created effective new wealth strategies for investing in real estate.
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