Great mind set book with one nice practical piece of advice. 100:10:3:1 rule, repeat.

No new real estate buying secrets or revealing of financial resources to finance property acquisitions. At this period of our lives, when the whole book is common knowledge and an exaggerated picture of how easy to buy property. I have owned a multifamily residential building for over 27 years. I couldn't be happier when I got rid of it. In NY, the renting guidelines and laws protect only the tenants and allow them to freeload for up to a year on your property before you can even dispose of such trash. That does not count the lawyer's costs and court fees. To be blunt, in the USA it is a nightmare to buy and operate a profitable rental business in democratic states.
One last thing to mention is that this book must be updated and the author must specify the market or country that the author dreamed about.

best book ever

I love it. I learn i lot. I also teach my family about this book. They love it very much!

good for people that are new to this

Хорошая кника про управление недвижемостью, объясняется как управлять и строить бизнес на недвижимости. Много идей. Короткая, всего 3 часа.

OPM.. tricky subject when you know borrowing isn't the best way

The book was a little repetitive. Dolf de Roos has a writing style that I don't much care for. He uses exclamation points like they are going out of style and he seems pretty egotistical in his writing. This might be a good starter book for those who haven't read much on passive income through real estate, however, I only found 2 or 3 chapter helpful. There are many other Robert Kiyosaki books that do a better and more informative job. I'll probably give 1 more of Dolf De Roos' books a chance to see if this was just a swing and a miss. Enjoy!

Excellent material, provided by the legends. Just need to put it all to use now.

A great book on basic real estate investing. I used it before buying my second office and it was helpful.

Typical first Part.
Really estate is great because of Leverage. With, for example, $100,000 you can buy more $200,000-however much of real estate. With other investments, like stocks, you can only have purchase and receive the amount you paid for (p.5)

You can buy RE property that is below is actual value. (p.7)

You can increase the value of real estate through forced appreciation (rehab) (p.11)

On a commercial properties you can increase the value by finding a tenant for a vacant space, by agreeing to a longer lease length, attracting a better tenant, or by replacing the carpets. (p.12)

In Real estate you can enjoy the money from appreciation through Refinancing.

Yield-the ratio of the annual income generated by the investment, divided by the dollar amount of the investment (p.20)

Depreciation (p.26)
As assets go down in value, you can claim the decrease in value, or depreciation,against your income. Some of the depreciation you claim may apply to curtains, carpets, the fittings, fixture, and chattels in a house, and also the house itself (Everything but the land) (p.27). When you claim depreciation, it does not cost you any money.

In the U.S. the limit is set at $25,000 per year and decreases as your income goes above $100,000. (p.28) One of the wisest investment you can make when you buy a property is to have an appraiser or registered valuer go trough the property and itemize each and every chattel, fixture,and fitting in the property.

100:10:3:1 Rule
If you look at 100 properties, put offers in on 10, and try to arrange financing for 3, you May end p buying 1 (p.67)

The reason why it is so important to look at a lot of properties is that, in the process of looking at what's out there,you will get a gut feeling for what is the norm about how many bathrooms are normal, or garages, or acres of land. (p.70)
"Looking at a property" means evaluating it to the extent that you can explain either why you want to buy this property, or why you want to pass on it. (p.71)

There is no one magical source for great deals. Cover the field, and manage to find great investments using all kinds of mechanisms. Try Classified Advertisements (p.73), Real Estate Magazines (p.76), Real Estate Agents (p.79), Off-Market Sales (p.85), Write your own Advertisement (p.86), Word of mouth (p.87)

A property is not necessarily worth what a seller, agent, appraiser, or bank thinks it is worth. A property is worth that price at which a willing buyer and a wiling seller agree to transact the property (p.77),

"Never stick to just one agent" They don't have access to every property on the market and one person can't hear about everything brewing. (p.79) Work with agents who are themselves investors. (p.80)
Go into a RE office an ask: "Who would be the best agent to deal with concerning investment properties?
To determine if they're going to be helpful, ask them: "What is the best investment property that you have on your books at present?" When they pick one, ask "Why". Their answer, if it's investment and numbers talk, will reveal their usefulness. (p.81)


Add this to your contracts:
"This contract is expressly subject to and conditional upon the purchaser arranging financing suitable to himself, such financing to be confirmed within 21 days from the date of signing of this contract. "(p.99)

Add a confidentiality agreement so that the discussions of the purchase price can not be disclosed to others until the sale is complete (p. 100)

To make your offer more enticing, staple a check for the deposit to the contract. "It makes no difference to your cash flow: if they do not countersign, then they cannot bank the check, and if they do, then you would have to write it out anyway. However, the psychological power of this check stapled to the contract is phenomena.The seller knows that you are serious (p.101)

An interest-only mortgage is where you only pay interest, until the end of the term, when you pay back all of the principal in one hit. (p.105)

"I recommend drawing up a "proposal for finance" for each investment property you want to buy. This document will spell out exactly what it is that you are offering he bank" let them know it's a sound investment(p.106)

"When you owe the bank $5,000, you've got a problem. But when you owe the bank $5 million, THEY've got a problem"- Dolf De Roos (p.109)



Build and charge for a carport or storage garage on your land, for additional income/value on the property. (p.112)
More smaller ideas on p.115

About the most critical factor in running your properties smoothly is the judicious choice of tenants. The most crucial determinant of the type of tenant you will attract is the area in which you buy your property (p.118)

Phone their references. Ask the question: "Would you have these people as tenants again?"
In conversation, ask the tenant how long they were in their last home, what their plans are, where are they from, what they do for a living (p.119)
Gain the favor of tradesmen (contractors) by *paying them THE SAME DAY THAT YOU GET THE STATEMENT. Write the check write away. (p.121)Word'll spread you pay on time and promptly.

With tenants, make the rent obligations very clear. Spell out the action that will be taken if the rent is in default. (p.122)
Use a Property Management Software, especially when you get more tenants, to be organized an keep track of everything. (p.123)

Property Managers enable you to work ON your business, not in it. (p.125)

Residential property is property that people use primarily for residential accommodation. (Note: Some banks classify apartment buildings as commercial property)
Commercial Property includes offices, shopping malls, freestanding retail shops, strip mall shops, bank buildings, medical offices, funeral parlors, restaurants, and more. If you lease out a home on a commercial lease for use as an office, then that would qualify it as a commercial property from your perspective. (p.129-130)

When you deal with residential property, you are dealing with a person (the tenant). When you deal with commercial property, you are dealing with contracts. (p.130)

You have more control of the leases and agreements in commercial property than residential (p.131-132)
Commercial property leases are typical for multiple years (p.134). Banks will typically lend 50% of the appraised value of a commercial property. (p.139)

Never be the first to name a figure--that person always loses (p.149)
Seldom sell (p.151)

There is no one optimal place to invest. That means that your suburb in the city where you live is not the only place you should consider. (p.158)

Not super helpful with tips, just explains the benefits of REI.

Yet another book cashing in on the real estate bubble. Dolf De Roos is another one of the motley cast of opportunists and scam merchants who jumped on the property speculation bandwagon and helped to fuel the boom of the late 90s and early 2000s.

Nothing to see here. Move along.