The Automatic Millionaire Homeowner: A Powerful Plan to Finish Rich in Real Estate

by David Bach

Imagine this. You buy a home, live in it, then buy another. You build your wealth through real estate—and then retire rich. It may sound too good to be true. But it’s not. It has happened, it’s happening now and it will continue to happen for millions of people over the next few decades. The question is, will it happen for you?

If you want the answer to be “yes,” then stop what you are doing and open this book. Read a few pages. Bach’s simple strategies make you rich where you sleep. All you have to do is follow his easy program to go from renter to owner, and from owner to Automatic Millionaire Homeowner. The rest is automatic!

What’s the secret to becoming a millionaire in real estate?

Since the runaway success of David Bach’s #1 New York Times bestseller The Automatic Millionaire, people all over the world have asked David the same question— is it really possible for me to get rich in real estate?

Now, in The Automatic Millionaire Homeowner , David Bach reveals why buying a home and investment properties is not only possible, it is the surest way to reach your seven-figures dreams on an ordinary income.

The Automatic Millionaire Homeowner starts with the powerful story of an average American couple with a modest income who stretch to buy their first house for $30,000 and retire 35 years later owning a home on a golf course and rental properties worth over three million dollars. Through their story you will learn the surprising fact that even if you have cheap rent you can’t get rich renting! You must first own a home, and make it the foundation on which you build your financial security.

What Makes The Automatic Millionaire Homeowner

You don’t need a big down payment to buy a home.
You don’t need great credit.
You should buy even if you have credit card debt.
You can buy a second home even if you’re still paying off the first.
You can get started in any market–boom or bust.
It’s easier to be a landlord than you think.

Whether you are a renter or already own a home, David Bach gives you a lifelong strategy for real estate based on timeless wisdom that is tried and true. He includes everything you need to know, with step-by-step instructions, including phone numbers and websites so you can get started right away. His road map to ownership is easy to follow and, best of all, it makes the process totally automatic.

As long as you’re alive, you have to live somewhere. Why not let where you live make you rich? David Bach will show you how.

Genres: Finance, Personal Finance, Nonfiction, Business, Money, Audiobook, Self Help

272 pages, Hardcover

First published January 1, 2005

About the author

David L. Bach is an American financial author, television personality, motivational speaker, entrepreneur and founder of FinishRich.com. Bach, is best known for his Finish Rich Book Series and Automatic Millionaire Series of motivational financial books under the Finish Rich Brand. He has written 12 books since 1998 with over seven million copies in print.
Eleven of Bach's books have been national bestsellers, including nine consecutive New York Times bestsellers, two of which were consecutive #1 New York Times bestsellers (The Automatic Millionaire and Start Late, Finish Rich). Bach has had four of his books Smart Women Finish Rich, Smart Couples Finish Rich, The Automatic Millionaire and The Finish Rich Workbook appear simultaneously on the Wall Street Journal, BusinessWeek, and USA Today bestseller lists. Eleven of Bach's books have been published from Random House (Broadway Books).
Bach's first book Smart Women Finish Rich was published in 1998, and appeared on the bestseller lists for a decade. His most recent book Debt Free For Life (2011) was published by Crown Business Books, and appeared simultaneously on the New York Times, Wall Street Journal and USA Today bestseller lists.
Bach has appeared regularly on television dispensing his financial advice since 1994. His first appearance on television took place in San Francisco, on local cable channel BayTV, where he was "The Money Doctor", and answered personal financial questions.
He was a regular contributor to The Today Show, appearing weekly on the Money 911 Segments. He also has contributed to CNN American Morning, CNBC, Fox Business, ABC Good Money, and The Oprah Winfrey Show. He has appeared on The Oprah Winfrey Show over six times, including the shows "How to become an Automatic Millionaire" (2004), "How to become an Automatic Millionaire Couple" (2004) and "Oprah's Debt Diet Series" (2006). Bach has appeared on CBS's The Early Show, NBC's Weekend Today, CNN's Larry King Live, ABC's Live with Regis and Kelly, and ABC's The View.
Bach has written, produced and hosted two public television specials, Smart Women Finish Rich and The Automatic Millionaire, which aired nationally. Smart Women Finish Rich was produced by Connecticut Public Television (1998) and The Automatic Millionaire by Chicago Public Television (2006). He has hosted two radio shows, Finish Rich with David Bach (Sirius Satellite Radio) and The Finish Rich Minute (Westwood One).

Reviews

[Ryan · Rating 1 out of 5]

Wow. This book was written at the height of the housing bubble. As such, many of its assertions are downright laughable. For example, the author claims anyone can (and should) get a home loan, even if you have bad credit and no money for a down payment.

Also, the author reasons that the average income of homeowners is greater than that of renters; therefore, if you want a higher income, buy a home. Are you kidding me!?! Correlation is not causation.

Certainly there were a few good principles in this book (which are outlined in it's parent the Automatic Millionaire), but many of the assertions and assumptions were so ridiculous, I must recommend not reading this book. Disclosure: I must admit I did not completely finish the book; it was just too painful.

[Sandra Castro · Rating 4 out of 5]

This book is practical, motivating, and refreshingly straightforward about building wealth through real estate without needing extreme risk or complicated strategies. David Bach’s core message is clear: homeownership isn’t about timing the market perfectly, it’s about consistency, discipline, and long-term thinking.

The book unfolds more like a roadmap than a narrative. The author walks through real-life examples of everyday people who became wealthy not because they earned massive salaries, but because they automated their finances, bought wisely, and stayed committed over time. He breaks down intimidating concepts: mortgages, saving for a down payment, credit, and investing into manageable steps that actually feel doable.

What works especially well is the mindset shift. The book challenges the idea that renting is safer or that buying a home is out of reach, showing how small, automatic decisions can compound into serious wealth. It’s encouraging without being unrealistic, and the emphasis on systems over willpower makes the advice feel sustainable.

Overall, it's practical, empowering, and genuinely useful for anyone serious about building long-term wealth through homeownership.

[David · Rating 1 out of 5]

My attention to detail skill was absent when I bought this audiobook on iTunes. I wanted The Automatic Millionaire, but bought the Real Estate version by accident. While I still want to go back and read that book, I cannot recommend this particular book.

Bach begins by stating the stock market cannot produce the returns of real estate. His disclaimer is the book is written in 2006, so some things may change when the reader goes through it. He mentions his methods are timeless because everyone needs a home.

He discusses building wealth through borrowing other people's money. While he spend 12 chapters talking about building a portfolio of real estate, he does not adequately discuss risks invovled. I give him credit for stating that "get-rich quick" does not work and that the reader should take tiime to build their real estate wealth. This is because the home is one of our most valuable investments. I just cannot begin to agree with his methods of using debt to build wealth.

If you read the Total Money Makeover by Dave Ramsey and you want to know what this book talks about, then here's what you will find. Take most of Dave's principles and do the opposite. If you go this route to build wealth, keep Dave Ramsey's phone number ready to call when the banks start calling in your notes. I'll take financial peace over wealth with debt any day.

[Meredith Chandler · Rating 5 out of 5]

Updating my rating be because while I usually negotiate everything in life already, knowing EXACTLY which levers to pull on the closing doc saved me $1,000 today (processing fee, credit report fee, appraisal fee varies by company). That itself is worth 5* from me :)

[Jon Haase · Rating 4 out of 5]

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.

[Joe Kessler · Rating 3 out of 5]

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.

[Darby Smale · Rating 2 out of 5]

I thought this book was pretty terrible based on the advice that It gave. This book was written in 2005 which is important to consider because it was during the real estate bubble. The author encourages everyone to buy a home no matter what their circumstances are. They could have no money down, credit card debt or financial instability. The only thing that mattered was homeownership. Many people that bought homes during this time were foreclosed on because their home is overvalued when they purchased it. He encourages people to overextend and cites that real estate is going up at a rapid rate as a justification. I’m sure this book got many people in trouble if they purchased based on his advice in 2005. The redeeming quality for this book is that some of the proceeds are donated to Habitat for Humanity and other organizations to help people become homeowners. Instead of this book look up Dave Ramsey! This book was helpful and the information provided on how to purchase a home, navigate the mortgage market, pick a real estate agent, etc.

[JB Lynn · Rating 3 out of 5]

Never has a book "dated" itself so blatantly as this one. It was eerie reading this author's opinions and recommendations for getting into real estate just 2 years before the real estate crash of 2008. I also doubt a lot of the advice would work in today's market, where first-time home buyers in the lower income brackets are staring at housing prices that have tripled or more in the last decade. And the "advice" to try for no-money-down or low-money-down mortgages just sounds super risky.

I did appreciate the messages about making the act of "saving" automatic, either by setting up automatic transfers with your bank, and also doing the same thing with bill paying. And there was some good time spent pointing out the importance to reduce as much consumer debt as possible before buying your first home.

So, if you have confidence in your ability to apply critical thinking to the materials you read, this couldn't hurt to read, but it is major danger-zone stuff if you tend to be heavily influenced by what you read.

[Shaela · Rating 4 out of 5]

Informative but very outdated (obviously, due to publication date), a lot of this info is not relevant now but you can draw parallels to today’s standards. A lot of the info is also geared towards first time homebuyers which is great for me but the book isn’t advertised towards that demographic

[Travis Moore · Rating 1 out of 5]

Some good points, but very outdated and out of touch given the choices of examples and publishing in 2006.

[Kate · Rating 3 out of 5]

I remember reading this book when it was new, around 2006 or so, and the advice not to buy condominiums as investment properties has stuck with me ever since. This book says condos have too many rules and regulations which will drive you nuts and waste your time, such as demanding doors and shutters be repainted a certain color by a certain date etc.

[Jacob Novotny · Rating 5 out of 5]

While certainly not as “automatic” as its namesake this was very helpful. Start with the automatic millionaire first and apply those principles, then use this as icing on the cake. Assuming national stability and Lord Willing America stays intact for the next fifty years, the only person stopping you from financial freedom is you.

[Kristen · Rating 4 out of 5]

The first third of “The Automatic Millionaire Homeowner,” I was annoyed with David Bach. He talks about “getting rich” so many times that it started to feel like a scammy infomercial. In addition, Bach encourages his readers that a chapter will take less than 20 minutes to read and that the whole book only takes a few hours to read; however, despite all his talking and cajoling, I wasn’t reading any substance or value in Bach’s words.

If you can make it though this first third, the majority of the book is solid with actionable insights and many “I have to write this down moments.” From down payment sources and all things mortgage (finding a mortgage broker, negotiating a mortgage, automating mortgage payments) to finding a realtor and becoming a landlord yourself, there are insights and strategies for most people.

Since the book was published in 2006, some of the advice is outdated, including web addresses of sub-prime lenders that have since gone out of business!

The “get rich” mantra and focus on wealth can turn some readers away—I was rather turned off at the beginning. Moreover, the final chapter on how to help others through charities and organizations like Habitat for Humanity felt tacked on at the end to ward off critics of his “get rich” mentality.

Still, Bach’s book taught me more than a few things about home buying and I’d recommend it to those who can look past the millionaire mentality.

[Toby · Rating 5 out of 5]

One might think that a book about making millions in the real estate market that was written in 2005 would be hopelessly irrelevant today. However, that is decidedly not true about The Millionaire Homeowner. David Bach turns out to have been remarkably prescient about the housing and lending crash of these past few years. In fact, in this book, he describes the causes and effects of the crash in detail, before they happen, and advises against each of them.[return][return]I'd highly recommend this book to anyone for several reasons. First, it is short and an easy read. Second, it is an excellent primer for basic real estate and finance terms and concepts. Lastly, I firmly believe in his path to wealth and that he has grasped a measured, sober way to build wealth and value that is pretty approachable. He has lots of gems like "It isn't timing the market, it is time *in* the market." [return][return]If you are renting, or if you own your own home, you should read this so that you can better understand your next step. This book is great even for those who think that buying their own home would be impossible. And shockingly, it is probably even good for those who have been bit by the downturn and need to know what went wrong, or what to do differently next time.

[Jodi · Rating 4 out of 5]

Yes, I'm reading yet another David Bach Finish Rich book! I've just really been enjoying his quick-read books and simple, easy-to-understand approach to financial planning. I thought this book would be a good refresher course to home-buying as we look to buy our second home in a few months. This one focuses on how to use your house to become a millionaire by basicly explaining how to get the best mortgage and save more on interest, as well as how to invest in second and third homes to create even more wealth. All this info is really great considering he gives info that is useful regardless of what the current housing market is doing. He doesn't suggest flipping homes, but as like other investments, buy properties and hold. And as usual, his style is very motivating and encouraging.

[Timothy Olson · Rating 4 out of 5]

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.

[Crista · Rating 3 out of 5]

A good “elementary” read, could have read this at 15 years old and it would have been a good starting manual— if I could have used that 80-something-% of my income as a live-at-home girl on a first property instead of a better “savings account option” as I would have liked to, and should have! Some glaringly outdated stats (inflation, whew), this hasn’t kept up well with the current Canadian market, plus the super salesy tone that i found hard to get past to get to the realistic factors. But it might be a good book to have on hand to introduce my kiddos we’re ready to discuss their own relationships with their own lenders, agents and equity team.

[Sandi · Rating 3 out of 5]

Kind of schlocky title, but has some timeless information. I rented this from Libby because it was the only real estate investing book available on audiobook.

Interesting because it was written before the 2008 crash and so it's funny to see people predicting this years beforehand and nobody doing anything about it... Lenders and real estate investors fully knew it was risky and just rode the wave til it crashed. Wild.

[Shaeley Santiago · Rating 3 out of 5]

Similar ideas to Bach's The Automatic Millionaire: A Powerful One-Step Plan to Live and Finish Rich only with specific application to owning a home (mortgages, etc.).

[ShayeBayBay · Rating 4 out of 5]

Great insights. Good step by step guide with specific how-to’s and important considerations to think about in the property-buying process. The information on lending and financing should be taken with a grain of salt since the book was written prior to the 2008 housing crash. It relies on the some of the poor lending practices that are no longer in practice.

[Nathan · Rating 3 out of 5]

Some things in here I know I'm going to use! The best part about this book is that the author repeats many times, that people who buy lots of houses just to flip them are stupid jerks who ruin it for everyone else.

[Katherine · Rating 4 out of 5]

I read this just out of college, and it gave me some great ideas. It is a realistic approach to how an "average Joe" can get ahead and become a multi-property owner in his/her lifetime. Very doable! :)

[Mark Sylvester · Rating 1 out of 5]

Worst book ever. Read it because it was recommended by a friend, and it's clear we should not be friends anymore.

[Chris Ryen · Rating 1 out of 5]

Read this book and then watch the Big Short. You will laugh and laugh. This is a recipe for the housing market collapse!

[Bharathkumar · Rating 4 out of 5]

Seems to be more helpful and tips useful for only Western people, based on their financial trends, but there are some tips provided, that can be used by anyone who wants to grow.

[Devin · Rating 2 out of 5]

This books picks up from and reiterates his original book, Automatic Millionaire.

Put simply, the plan is to save for down payment with direct deposit to checking and automatic fund transfers to savings account. Be cognizant of the latte factor as you go along. Then you purchase the property, utilize equity to move to another primary residence and build equity in the second house while renting out the first one. Repeat this as many times as necessary and over a long period of time, your net-worth will be 8 figures or so.

Notes/Highlight:

Between March 2000 and the summer of 2002, the U.S. stock market imploded with losses totaling a whopping $6.9 trillion. So many Americans started investing in real estate, mainly homes (p.2). In 2005, it was reported by the Federal Reserve that Americans had much of their wealth tied up in their homes; about $10 trillion in equity (p.3).
"Don't worry about timing the market in real estate. It's time in the market that will matter for you (p.5).

You can save money by paying off your mortgage early using a "biweekly mortgage payment plan" (p.29.

In 1997, Congress changed the home-ownership tax laws. "Now, every time you sell your house,the first $250,000 in profits are tax free--the first $500,000, if you're a married couple." (p.32) ; "you can do this as often as once every two years." (p.213)

The 1031 Tax exchange is also known as the Starker Exchange "in honor of the real estate investor T.J. Starker, whose challenge to the IRS led to the rule." (p.56)

Before shopping for a home, you should shop for your mortgage. "You need to find the money first!" You're not going to get very far in the marketplace if the bank isn't willing to lend you that money (p.85). "It's not enough to be able to afford your home, you ultimately have to be able to afford your mortgage!" (p.86).

When you work with a mortgage banker, you are working with a direct lender (p.88). A mortgage broker, by contrast, doesn't work for a single bank. They are typically independent consultants, thought the may work for a large national company. The broker can shop your loan to various lenders; she doesn't represent one lender (p.89). Both mortgage bankers and mortgage brokers are usually paid a commission on the loans they close. "As a rule, it's you, the borrower [who pays the commission]-- thought you may not always realize it, since the cost of the commission is generally amortized in the cost of the loan." (p.90)
"If you already bank with a national bank (or even a local one), go into the bank and ask to meet with a loan specialist. Ask them if based on your existing 'banking relationship' with them, you qualify for any preferred rates" (p.92).
Amortization schedule=payment timetable= shows your monthly payments that will be applied against your debt (p.103).

The risk in no down payment mortgages is "if real estate values drop and you have no equity in your house, you can find yourself owing more than your place is worth! Should you be forced to sell your home under these circumstances [because, for example, you lost your job and couldn't keep up with the payments], you wouldn't be able to get enough from the sale to cover what you owe the bank (p.113)

Application Fees: To protect against the potential waste of their time, many lenders charge would-be borrowers an "application fee that ranges from $50 (the price of pulling your credit score) to $395. If the mortgage does cost, many will agree to waive the fee (p.138).
Appraisal Fees- if they are on the high side, ask why. Most lenders will offer you at least 3 different appraisers to choose from (p.139).

Pre-qualify-quick, informal review of your financial situation; is not binding (p.141)
Pre-Approved- serious and time consuming formal review of your financial situation (p.142).

In order to make the process of purchasing a home easier, many major home builders will help you with the financing (p.157).

"It's usually a lot easier to rent a new home than a old one. What's more, you're bound to experience far fewer maintenance hassles (p.160).

When you are getting pre-approved, negotiate your closing costs. By law, within three days after you have applied for a mortgage, a lender must provide you with a "good faith estimate" of what your closing costs are likely to be. Ask if the lender will guarantee a specific closing cost price. (p.172)

You are entitled to get a "HUD-1", an official, itemized statement listing all the costs of your mortgage (including closing costs, interest charges, property taxes, monthly payments, etc) , a full 24 before closing (p.173). Be sure to ask for it (p.174).

Your real estate agent can help you "Stage" a home that you're getting ready to sell (p.181).

Biweekly Mortgage Payment Plan-"All you do is take the normal 30 year mortgage you have and instead of making the monthly payments the way you normally do, you split it down the middle and pay half every two weeks." (p.192). The math works out so that you end up making less payments throughout the loan because"you gradually get further and further ahead in your payments, until by the end of the year you have paid the equivalent of not 12 but 13 monthly payments." (p.193) "To enroll all you need to do is phone your lender or go online to its web site. Many of the banks offer this service for free to customers who do all their banking with them." Banks without the service allow it through a 3rd party who will charge you, however (p.194)
Instead of the biweekly plan, you could simply "add 10% to your regular mortgage check each month and have the money applied toward the principal. Or you could make one extra payment at the end of the year and again have it go toward the principal (p.197).

Home equity loan-bank agrees to lend you the cash value of your equity. The interest is tax-deductible and is usually a lot easier to get than a mortgage (p.208). You can use a home-equity loan for any reason (college, starting a business, travel,etc.) (p.209)

"Even if you're confident a property will fetch a high enough rent to cover the costs, you still shouldn't buy it if you don't have at least three months' worth of mortgage payments in the bank." (p.228)

[Lữ Đoàn Đỏ · Rating 3 out of 5]

Cuốn này thuộc chủ để tài chính cá nhân, chưa thấy sách tiếng Việt nên đọc ebook tiếng Anh kiếm được trên z-library. Sách thực ra tổng hợp lại nhiều ý tưởng đã có từ trước, và nhấn mạnh tầm quan trọng của việc khiến mọi việc được tự động. Tâm trí con người rất dễ xao nhãng, hạ quyết tâm và sau 1 thời gian quyết tâm giảm dần rồi cuối cùng từ bỏ là việc thường xuyên xảy ra, nên để bất cứ kế hoạch tài chính nào thành công cần phải khiến tâm trí không còn để ý chút nào đến nó, biến nó thành việc tự động 100%.

Dẫn chứng ban đầu của cuốn sách là cặp vợ chồng McIntyre, 1 cặp vợ chồng ở lớp trung bình, thu nhập tổng 1 năm không bao giờ vượt 55k $ - khoảng hơn 1,2 tỷ 1 năm - mỗi tháng cỡ 100 triệu bên US. Họ đã thu xếp để nghỉ hưu ở tuổi 55 và có 2 căn nhà, thêm hơn 1 triệu $ trong tài khoản hưu trí. Tất cả chỉ nhờ vài công thức.

- Pay yourself first - tự trả lương cho mình, tối thiểu 10% thu nhập 1 tháng vào tài khoản hưu trí. Ở Mỹ thì loại này được gần như miễn thuế (gói 401K) , nên các doanh nghiệp khuyến khích người lao động mở loại tài khoản này, gần như bảo hiểm xã hội ở mình nhưng ưu đãi và độ linh hoạt cao hơn rất nhiều.
- Làm mọi thứ trở lên tự động - công ty từ trích 1 phần từ tiền lương hàng tháng qua đó luôn, nếu không đi làm thì tới sở thuế để được hỗ trợ. Có thể vay mượn ý tưởng chứ tình hình thực tế ở nước ta hơi khác.
- Mua nhà - bắt buộc phải mua nhà. Tác giả khuyên chọn gói trả góp 30 năm để cuộc sống mỗi tháng không rơi vào cảnh thắt lưng buộc bụng. Số tiền thuê nhà bây giờ có thể đủ tiền mua nhà mai sau. Nên bắt buộc phải mua nhà, sử dụng đòn bẩy tài chính. Giá nhà thường tăng nhanh hơn mức tăng lãi suất ngân hàng, chưa kể trung bình người ta ở khoảng 7-8 năm trong căn nhà đầu tiên. Căn nhà sẽ trở thành khoản đầu tư chứ không phải gánh nặng. Nhưng buộc phải nên kế hoạch trả tự động 2 tuần 1 lần. Tác giả cung cấp 1 bảng để tính toán theo thu nhập đầu vào nên chọn mua căn bao nhiêu tiền và trả hàng tháng bao nhiêu là hợp lý. Khá hữu ích, khiến quan điểm thay đổi và muốn tìm mua 1 căn nhà trong tương lai gần.

Thứ đặc biệt quan trọng là phải lên kế hoạch cho mọi thứ đi vào tự động. Mỗi người đều nên tự đánh giá lại những khoản chi tiêu hàng ngày và loại bỏ những khoản lãng phí. Những khoản lặt vặt tiêu tốn ở mức kinh ngạc theo thời gian dài. Tác giả cũng chỉ cách để xử lý nợ tín dụng, cách để làm từ thiện tự động luôn. Ý tưởng trong sách khá cô đọng và thực tế. Nhưng về cơ bản thì vẫn là kiểu sách thị trường, bôi ra rất nhiều thứ và kể rất nhiều câu chuyện đánh bóng cho tác giả. Đương nhiên là có thể lược gọn hơn, để in thành 1 cuốn sách bán thì hơi quá đáng.

Cảm ơn những ý tưởng và nguyên lý vận hành tài chính cá nhân mà tác giả mang lại, ở góc độ thông thường đây thực sự là những thông tin vô cùng giá trị. Nhưng đánh giá ở góc độ cuốn sách thì chỉ được tầm 5-6/10. Để 3*

[Jessica Nova · Rating 2 out of 5]

If I had read this book a little earlier on in my home buying/investing journey, and definitely if I had read it closer to the time it was written, I would have given it a higher rating. Because it was written around 2005, much of the information was outdated, and some of the tips the author gave regarding obtaining financing seemed quite risky. It's no surprise that a crash was on the horizon based on the general tone of overconfidence about mortgages and real estate of the day.

Nonetheless, I still gleaned a few good nuggets of home-buying/investing advice. Things such as considering getting into a "hot market" as it's cooling off and many are scrambling to sell. Also, idea that "it's not so much about timing the market as time in the market," which allows you to actually get rich in real estate slowly rather than wasting time and resources trying to get rich quickly.

I appreciated the overall idea, laid out in a step-by-step way beginners can understand, of intentionally using your personal home as your great, long-term wealth-building tool. There were a lot of practical tips for those just starting out - just please be more conservative when choosing your financing!

While some of the examples in the book seemed a little extreme, there was one main example of two homeowners to which the author kept referring that I found very helpful and practically inspiring. I keep thinking about that in my own life now! To sum it up, the author said, "You can read these examples and get skeptical or jealous or you can get going!" I love that taking action was regularly prompted throughout the chapters - because knowledge does no good unless you do something with it. Being that this book seemed aimed at people just starting out in this process, I think that encouraging taking practical action steps was a very good idea.

In summary - the book is worth reading to give you a long term perspective on home buying and a glimpse into the trends of another real estate era, but there are probably more thorough, advance, and definitely more recent books on the subject out there.

[Tara Nestleroad · Rating 1 out of 5]

The first thing to know about this book is that it was written in 2005. I made the mistake of not checking the year before reading it. I'm sure the advice was helpful or even great in 2005. In 2024, however, it is painfully outdated.
First off, prospective homeowners are encouraged to take out loans with little to no down payment just because it's "cheaper than renting." Sometimes that's true, sometimes it's not. Fast forward to the mortgage crisis of 2008 and then inflation of housing prices in 2020s and it's debatable if it's actually the best plan of action. Also add in insurance that jumps every year, the idea of fixed housing costs is pretty much a myth.
Another thing that was promoted to help save on interest was to set up bi-monthly payments. Banks don't do this anymore, at least not the ones that I talked to. They will take your money bi-monthly, sure, but they don't apply it to your principal until the due date, so you aren't saving interest, you are just loaning them your money 15 days early.
I read this hoping to get information on buying additional properties, but the book made it seem like the best way of doing it was to pull equity out of your first house to buy a second house, then move into the second house and rent the first one out. So, if you don't want to move out of your first house, it's not really covered.
The advice I did take away was to set up automatic savings for financial goals, which is a good general concept. In all fairness, I didn't finish the book so perhaps there was more.

[Elwin Kline · Rating 3 out of 5]

"I liked it." - 3 out of 5 star rating.

A book about a whole bunch of really great topics, that I am already fully aware of and have been exposed to numerous times prior to reading this one.

Of course, this comes to no fault to the author. In the land of Financial / Retirement / Investment / Real Estate books, the balloon is overfilled so much... a mere whispered breath could cause it to pop. What I mean by that is, there are more books within this category that you can shake a stick at - to illustrate my point in an old timey way.

There's absolutely nothing wrong with this, but again there are about 400 other books on the shelf that say the same thing for the most part, with slightly different variants one way or another.

Hell, there are so many of these types of books that say nearly the same thing, I might as well write my own and join the party. Maybe one day.

What I do appreciate about Bach and this book is that he is all about the long game and very risk adverse - which definitely aligns with my way of thought for the most part.

If you've never read a book like this before, or maybe only 1-2 others at the most, you'll likely really enjoy this and probably land it at a 4 star rating.

3 or more books of this category... and what you get here is a nicely done refresher content quick read.