No investment strategy has created more millionaires that real estate… even in less-than-stellar markets. This new edition of the bestselling Are You Dumb Enough to Be Rich? empowers readers to take their first steps toward real estate investing. The book walks readers through a special 120-day plan for starting down the road to real estate wealth. Barnett gives readers the information and resources they need to find the neighborhoods with the most potential, avoid the common pitfalls of real estate investment, and build personal and professional credibility. The new editions includes exciting trends and opportunities to take advantage of, changes in specific state laws… even ways to actually profit from a downturn! In addition, the book now includes Barnett’s new “Hot Mapping” system for figuring out where to invest. Too many real estate books focus on stories and unrealistic examples of how other people became rich. Are You Dumb Enough to Be Rich? offers real strategies for people wishing to make smart, low-risk investments. Straightforward and easy-to-follow, this book demonstrates that anyone can make money- lots of it!- in real estate.
Real estate is a world I know little about, except secondhand. I know people who "flip" houses on the one hand, and I unfortunately know people who've been foreclosed on, on the other (who doesn't, post-2008?) Real estate is weird in that for most people who do it, it's more avocation than full-time job. The artist Vinny Gallo, for instance, decides once or twice a year to get in the mood for it, and make a few hundred grand in a few weeks.
G. William Barnett's book is a straightforward overview, written in a homespun style that makes it easy enough for the layman to understand. Things like what color one's business cards should be are covered, as well cool strategies like where one should go to pore over city planner maps to predict the next housing boom.
Some of it's a little predatory for my taste. I don't ever want to get to the point where I'm salivating over foreclosures or waiting for someone to renege on their VA home loan so that I can swoop in and profit from their pain. Then again, it looks like a lot of banks would prefer to restructure rather than foreclose, so one has to almost be willing to flip creditors and the world the bird (or be busy with a nasty divorce) to have it come to that. People like G. William Barnett actually manage to keep people from ruining their lives through foreclosure (it's one level down from having a felony, in terms of what it does to one's creditworthiness) and he also puts cash in their hands.
One will have to make their own conclusions about what their soul can handle in pursuit of the American Dream of wealth beyond dreams of avarice. "Prosperity Gospel" would seem to make it easy for the salesman (already inclined to silver-tonguing) to go through the circumlocutions necessary to believe all that stuff about a camel passing through the eye of the needle just requires some tithing and some interpreting to make one understand why God actually wants some people to be rich.
Recommended, in any case, for those who want practical information about how to get from Baltic Avenue to Park Place in a series of clearly delineated steps.