Readers of The Automatic Millionaire Homeowner need to manage their expectations. At a mere 244 pages, you shouldn't expect it to delve too deeply into any one aspect of home-ownership. If you are hoping for an advanced and detailed discussion of borrowing against your equity to purchase a second property, then you'll likely be disappointed. If you are, however, simply seeking basic information on the home-buying process, how to choose a good realtor, where to research mortgages, and potential alternative options when considering real estate investments -- this is exactly the type of book that can help you gain basic knowledge while hopefully inspiring you to think a bit differently about the place you call home.

Much of the premise is implicitly based on being at the right place at the right time (e.g. purchasing and selling a property from 1993-2005 like him!), but that does not discount the usefulness of his advice. The point is that long-term patience and focus in home-ownership can eventually lead to wealth. The author does attempt to warn the prospective buyer about risky mortgages, market changes and bad choices by writing Ch. 11 entitled "How To 'Bubble-Proof' Your Real Estate Plan - And Survive a Downturn," though this short caveat probably could have been longer and more forceful considering all the previous urging on his part to "go for it" and "jump right in"!

No doubt the housing market is a much different place than it was in 2005, but the book is by no means obsolete. It is still useful today for the uninitiated home-buyer or renter lacking the basics.

My wife and I went to a home-buying seminar put on by our credit union, and one of the speakers recommended this book. It's a quick read, and although it's a little dated -- author David Bach is writing in 2005 just before the housing bubble crashed, and he also over-explains some computer things like how to access Google -- the main points still seem valid. Namely, it's easier and more affordable to buy a house than many renters assume (especially if you aren't holding out for a dream home), real estate that you aren't buying just to flip is one of the best low-risk ways to build your finances, and paying half your monthly mortgage fee every two weeks won't squeeze your budget too much but will net you the equivalent of a whole additional month's payment every year, drastically reducing the overall interest you will pay over time.

Bach does include some tiresome cliches like cutting out a daily latte as another pathway to prosperity, and he mistakes correlation for causation when he notes that the average renter has far less personal wealth than the average homeowner, but these faults are oddly so glaring that it's easy to see past them to the advice that's good. And while the more advanced topics in the book like leveraging one house purchase against the next, converting your home into a rental property, and gaining the millionaire status of the title are not currently as interesting / relevant for me, I'd still recommend it as a good introduction or crash course for anyone else looking to transition away from renting in the near future.

This is the better of Bach's two "automatic millionaire" books.

I found this book to be surprisingly useful. Well not a guide on how to become a millionaire, it is a guide on how to buy a home. He wrote this book on the way up of the big real estate crash in 2007 and 2008. Much of his perspective is shaped by a real estate market that's going crazy and dubling rapidly. Perhaps we'll be in an environment like that again, but most real estate keeps up with inflation and isn't the best investment. However, if you're looking to buy a house like I am, you'll find a lot of useful tips in this book.

A few good tidbits. It’s a good book to get a check list of things to follow as you buy. But also one of those you listen to instead of read and at 2.5 speed in the background. It’s a good base for buying but as others have said it’s dated and imo a bit corny. I learned a few things. it’s unclear yet if these are things my real estate agent or lender would have given me anyway though.

Practical advise aimed at the first-time home-buyer. If you are thinking about giving up renting, but aren't sure, if you are confused by the various types of mortgages and financing, if you are scared of picking a realtor, this book will be helpful. If you've already purchased a home, it is simply a refresher.

It has a brief section on the value of renting your first home while living in your second which is interesting. The author is careful to not over-hype the value of homeownership, and he certainly didn't underplay the risk (its interesting to note that this book written in 2005 warns about the risk of the housing bubble bursting before it happened. The author doesn't blow smoke to make sales).

Recommended for: First time home-buyers, especially single people in their 20s.

This is a good book about residential real estate for the average homeowner.

I think his books are written on an 8th grade level and should be read by high schoolers as a class assignment. However, for adults in 2011 they are desperately outdated now. Maybe if you have never read one they are ok.

step one in me buying a home is probably "move back to philadelphia"

This was clearly written before the 2008 financial crisis and is grossly unsuited for the modern audience as evidenced by everything from the tone concerning subprime mortgages to the attitude that every person is privileged enough to be able to purchase property if they just have the right information.

This book did not age well over the 2008 housing crisis. It didn't seem to consider times that house ownership may not be appropriate for everyone.

This book has simple practical recommendations to help manage personal finances. He strongly suggests making everything automatic to make certain things get done instead of relying on self-discipline alone. He also encourages living within your means. The first sensible thing to start with is to pay yourself first, before taxes such as a 401k. He gave advice on purchasing a home as a step to eventually get into your dream home. He mentioned a mistake that a lot of homeowners do after selling their first house, they upgrade to a bigger house which hinders the ability get ahead financially. You stay in the same financial situation. Another alternative is to sell the house and buy another modest home to sacrifice for a better financial future. Apparently, holding onto your first house to rent out is also a good plan to increase your worth. It seems like you might have to wait many years though and if you have a late start, it might feel a little discouraging. I like the personal stories shared in this book to show the possibilities of what can become of your finances with homeownership.