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I know all of you have a good answer to this:

Discussion in 'Other Off Topic Forum' started by Michael, Mar 27, 2004.

  1. Michael

    Michael Formula Junior

    Oct 29, 2001
    493
    Nevada
    Full Name:
    Michael
    I am considering real estate investment. Has anyone else read the book "How I Turned $1000 Into $1000000 Of Real Estate In My Spare Time"?

    Later editions revised the $1M figure into $3M then $5M. I've read that it is a classic book and a collectors item that is no longer in print. I am also reading some stuff from John T. Reed. (www.johntreed.com/realestate.html). For those who don't know, Reed attended West Point and eventually got his MBA from Harvard.

    Reed is currently being sued by Russ Whitney (The supposed "guru" of cash flow and no money down).

    Anybody have any suggested reading? Please don't suggest Robert Kiyosaki, because, for the most part, he is F.O.S. (Full Of S____). Any pointers to get started would be great.

    I have no grandiose dreams. I just want a comfortable house and a 360 Modena.

    Also, what do you guys think of The Vanguard 500 index fund? I would like to start a non retirement mutual fund account for some cashflow. I already have a Fidelity 401k that's doing nicely despite their highly revered staple Magellen fund has been limping for the past few years.

    I am also taking night classes at the local university here on stock market investing. I am thinking of opening an account at Scottrade (www.scottrade.com) since I don't need a full brokerage services. Any of you use discount brokers?

    Thank You all.
     
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  3. benedict

    benedict Formula Junior

    Nov 6, 2003
    731
    Full Name:
    Ben
    Check out a site www.creonline.com. It has all kinds of materials dealing with Creative Real Estate methods and is a tremendous resource. (no affiliation with me).

    Ben
     
  4. thecarreaper

    thecarreaper F1 World Champ
    Silver Subscribed

    Sep 30, 2003
    16,028
    Savannah
    Full Name:
    I NEED A JOB
    i have been wanting to get started in my area as well. small steps, moving up to larger deals as i have more capital and confidence. great thread guys!
     
  5. isellpower

    isellpower Formula Junior

    Nov 30, 2003
    882
    Midwest
    Full Name:
    Jason
    Reed is a joke. Just don't fall in love with a piece of land. It's that simple. If you have to keep telling yourself that the property isn't that bad it probably is "that" bad....
     
  6. Michael

    Michael Formula Junior

    Oct 29, 2001
    493
    Nevada
    Full Name:
    Michael
    Is Reed really that bad? I know he's really gruff, tells it like it is and comes off as cynical. However, doesn't he make more sense compared to Carlton Sheets, Russ Whitmore, Robert Kiyosaki et.al?
     
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