Synopsis "Why and Why Not to Invest in Real Estate: How to get rich for real"
Wondering where you should put your money after being disappointed with the performance of all your other investments? Look no further than real estate, still the single most dependable investment you can find. In many ways, real estate is unique. You can rent it to third parties who help you pay off your mortgage. It doesn't go out of fashion. Unlike ideas, which are in infinite supply, real estate is not. When your city or your neighbors build new infrastructure and structures around your property, it's goes up in value without you having done a thing. These are just a few of real estate's unusual characteristics. Another aspect to like about this industry is that business models built around real property are not as complex as, say, running Apple or Facebook let alone Alphabet. It's basically a business model for dummies. In this book, Prof Bruce adapts Warren Buffett's investment philosophy to the real estate industry... the concepts are simple: buy smart, well located property using debt, manage them well, add differentiation, drive up income and value, refinance them so you can take out cash tax free and without any transaction costs such as attorney and realtor fees, rinse and repeat... eventually passing them on, efficiently and effectively, to your heirs. It's a buy and hold strategy for the most part, not buy and flip. Bruce M Firestone, PhD, brings his own unique flavor to this business by explaining how you can increase revenues in both residential and commercial real estate through a process he calls "animation." Prof Bruce is the ultimate real estate coach; you don't only learn about real estate, you learn about life, Gheorghe Adamache, real estate investor, air traffic control officer I think I've learned more from Bruce Firestone in the past year than I had in the entire decade prior, Brian Dagenais, Dagenais Properties founder
