Millionaire Homeowner: How to Turn Your Home Into a Real Estate Goldmine

There have probably been more fortunes made in real estate than in any other area, quite likely more than in all the other areas put together. This book, as you can see from the title is on investing using real estate as the medium. It begins with the basics of using your own home as a starting point. You can buy a house with quite a small down payment, perhaps fix it up a bit, and as the price of houses in the area goes up, sell it making a very nice profit on your initial investment. To do this, the author starts with the very simple basics from how property is described to financing. He then leads on to more complex things like building your own home using contractors, subs, and the whole gamut of specialists. There is certainly nothing wrong in the way he lays out this investment strategy. I would only add a few minor points: 1. Investing in real estate is like any other investment, you have to work at it. It's not a passive activity. 2. To learn more about the whole business, I'd suggest that you become a real estate salesman. Get your license, go to work for a broker in your area. You'll learn a lot, and you may even make some money. 3. Not everyone makes a fortune in real estate. Sometimes prices go down. I live in an area where the demand for housing depends on what the local economy is doing. The local economy is based on gold mining. When gold is at $300 an ounce, you can find abandoned property all over the place. Right now gold is at $550 and there are no houses available. Likewise an earthquake or a hurricane can really mess up a good plan. Housing is cheap in New Orleans right now.