Nothing Down for the 2000s: Dynamic New Wealth Strategies in Real Estate

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Nothing Down for the 2000s: Dynamic New Wealth Strategies in Real Estate by Robert G. Allen

Real estate remains the only reliable investment in which profits can be made consistently. Whether employment figures and stock prices are high or low, the real estate market never dries up -- it is one of the most dynamic income-producing vehicles ever created. There will always be plenty of foreclosures, which are great opportunities to purchase properties cheaply. Nothing Down for the 2000's shows you how to locate the best buys, deal with real estate agents, and manage properties, all with little -- or no -- money down.

Topic: Investing Product Type: audio
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Posted on November 22, 2008 9:00 AM PST
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NOTHING DOWN DID NOT WORK FOR ME
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I was into the get rich quick schemes early on and thought that this would be the best way to go...nothing better than investing in real estate right? WRONG...even before the market hit rock bottom, I realized that in order to make profits in real estate that there were a number of factors that had to come into play. One, you had to have excellent credit in order to finance the real estate or if it were a fixer-upper you needed the cash to make repairs. Sometimes there were repairs that were not detected until a wall or a toilet were removed. The hidden repairs that cost a small fortune. Then there was the matter of listing the property and selling it. You are not going to unload it in a day. Which means you are responsible for upkeep, taxes, insurance and the mortgage payments. This all takes effort and seriously is not worth the time, effort or expense. Although renting it out is an option, that in itself can be a nightmare if you are stuck with an uncooperative tenant who doesn't want to pay rent. Then there are court filing fees and all kinds of other expenses and in the meantime you are still paying for the taxes, insurance, mortgage and quite possibly electricity, water and trash removal. Unless you seriously know what you are doing or are an agent, this is a very risky investment and I would not recommend this book or any similar books to anyone. State laws differ when dealing in real estate and that is another factor that should be considered! It is just a duplicate of all of the other real estate investment books and just as complicated to understand if you are not an expert in the field. Bottom line is make sure you have armed yourself with every available real estate law, landlord/tenant law or a great real estate agent or attorney before walking into this blindly. It could be a nightmare you never want to have again!