The Automatic Millionaire Homeowner: A Lifetime Plan to Finish Rich in Real Estate Paperback – March 4, 2008

Read this book as I’m purchasing my first home in a hot market. In 2021! It’s pretty amazing on how spot on he was about the pending doom of the RE market in 05. Now we are in a similar environment. High prices, low rates, low inventory and now the shadow of a global health crisis.I bought now because it just so happens we are ready now. We found a home that fits my family and we found a way to house hack with family. We put enough down to avoid PMI and we plan to stay for a while and put some extra on the principal for max pay down. Hopefully a bi weekly option is available for that extra yearly payment. 3.375 Fixed Conventional. I also know we paid a premium of atleast $20k. So our equity is surely exposed to some extent.The book laid out the three best options if you are also in this position - Having a home with substantial (>20%) equity.1. Continue to pay down the mortgage as fast as possible, to eliminate your housing payment to aid in a comfortable retirement or early/semi retired.2. Purchase more properties for rentals and cash flow or move to a new home and rent your old house out. Repeat over and over until satisfied.3. Invest in other assets such as stocks or bonds that pay more in returns and dividends that the interest rate.All great advice based on a foundation of simply buying a home with a plan to wealth. Here is one of those plans. 5 stars from the relevant future.

The Automatic Millionaire Homeowner: A Lifetime Plan to Finish Rich in Real Estate" is a game-changer for anyone in the real estate field or looking to build wealth through homeownership. This book lays out a clear, practical plan for achieving financial success through real estate, making it an essential read for real estate professionals and clients alike. It’s packed with insights that can help you guide your clients to make smart, profitable decisions while reinforcing your expertise in the market. 🗝️

This is a decent book on purchasing real estate and becoming a real estate investor for people who have no experience.The book is clearly written for an audience that has never conducted a real estate transaction before and spends a lot of time building justification for purchasing property (price appreciation, equity building, owning something physical unlike stock), etc.Overall: it's a great book. If you don't own real estate and are curious about how it all works: this is one of the best high-level introductions out there. David does a great job of explaining the basic idea of how it works, showing numbers to demonstrate what the upside looks like, and also provides some clear warnings of things to look out for.Now, here are the downsides:If you already own a property or are knowledgeable about real estate basics, this book will not be of much use. I purchased my first home about a year ago and was already well-versed in everything discussed.This book was also written BEFORE the last major economic depression, which was primarily driven by real estate. It's funny looking back at this book because a lot of the things it loosely encourages were the same practices that lead to the most recent bust: people purchasing homes they can't afford with no down payments, stuff like that. If you read this book and think your home will appreciate 100% in 2 years, you will be in for a sore surprise.So be smart about it. Treat this book as a basic guide to owning real estate, but ignore the overly lofty appreciation goals and massive wealth stories David tells: they are no longer relevant in today's market.If I had to sum this book's advice up in a sentence or two, here's what I'd say:Buying a home and paying it off will make you richer than renting. When you purchase a home, purchase something you can afford (don't spend more than 33% of your take-home income on housing costs), and you'll be OK. When you buy a place, either get a 15 year fixed or a 30 year fixed rate mortgage: don't go for the variable rate ARM loans, they are too risky.If you follow that advice, you'll be well off.

I've been reading several investment books lately and this is by far the most practical, logical and easy to follow book I've read so far. Don't let the title fool you. It's not another get rich quick book, but it lays out practical steps you can follow to acheive wealth over several years.

An absolute must for anyone who is interested in getting their retirement financial plan in order or interested in becoming a Millionaire automatically!The concepts are so simple and straightforward, its an amazing fact that not everyone lives by them.A great gift for any young person which has the potential to make a monumental difference in their financial well-being.

READ ME!This is a good book. Nothing realy wrong with it but you can get esentialy all this info from his YouTube video and some research.The only problem is you are trusting your employer to stay in business 40 or more years till you Actualy retire. What I'm saying is READ THE FINE PRINT FIRST.In the event that your employer goes bankrupt that money that you've worked so many years for goes their bank debts etc.

This book has changed the way I see my finances and is very informative in regards to the home buying process.

I love this book. It is genius. The arthur knows what he is talking about and he lays it out for you simply.