How I Turned $1,000 Into Five Million in Real Estate--In My Spare Time : Previously How I Turned $1,000 Into Three Million in Real Estate--In My Spare

by William Nickerson

Book Overview

Hardcover with dust jacket, probably the most famous book ever written on making money in real estate, a highly collectible copy. This description may be from another edition of this product.

• Format: Hardcover
• Language: English
• ISBN: 0671253689
• ISBN13: 9780671253684
• Release Date: January 1980
• Publisher: Simon & Schuster
• Length: 577 Pages
• Weight: 1.65 lbs.
• Dimensions: 1.6" x 6.0" x 8.7"

Customer Reviews

Greatest Work on Real Estate Ever Written

This book is out of print, and many today have never heard of it. You'll probably have to order it used, and upon first impression, it appears to be an outdated book. Well, it is outdated. The dollar amounts have changed, and the author was aware this would happen. However, the dollar amounts are the only things that have changed - the lessons in this book are timeless. Many a books have I read on real estate, each containing something I could learn. I make a habit of highlighting and creating summaries of key points in each book, but, in this book, I am having great difficulty doing so, because it seems almost everything said is straight to the point - I want to highlight everything! I have yet to read another book as practical as this one, one that walks you through so thoroughly: - Saving money for a down payment for years - What to look for in your first property - The complete buying and financing process of your first property - How to manage your tenants, collect rent, etc. - How to make cost-effective improvements to assure yourself a profit - How to sell your first property - What to look for in your second property and how to buy it and works all the way up to - What to look for in buying big apartment complexes - What to look for when interviewing property managers - How to hire a property manager - How to supervise your property manager and ending with a large income that your properties generate for you, thus, enabling you to retire wealthy. All this is in a 20 year time-frame. There is no fluff, this book is straight to the point. Aditionally, his methods do not involve any speculation. Your property does not need to appreciate for you to make money. If it does, it is a nice bonus. This book is the Security Analysis (Graham and Dodd) for Real Estate. Study, study, study this material. Highlight, make charts and diagrams, flashcards, summaries, whatever you have to do. Make certain you master this material. This really is the Bible of Real Estate.

Timeless Masterpiece

If you are starting out in residential real estate investment, this book is a must read. Nickerson presents a conservative, realistic scenario for starting small and steadliy building wealth. This is not a get-rich-quick book or one that relies on gimmicks or nothing-down strategies. It shows you stepwise how to build a solid financial foundation in real estate, and how to leverage current assets into more valuable ones. Nickerson's strategy relies on hard work and persistence, not luck, deceit, or the greater-fool theory. There's no need for an updated version of this book; it's principals and approaches to developing wealth are as timeless as compounded interest.

THE BEST REAL ESTATE BOOK EVER WRITTEN

I am a licensed realtor in a major city with 20 years of experience. In that time I have made a small hobby of reading old as well as new books on the subject of Real Estate. I don't know how this one eluded me for so long, but our paths finally crossed. This is easily the most concise and informative tome on the subject of acquiring wealth through investing in Real Eastate that I have ever read. Unlike the myriad TV hucksters who would have you believe that having No Money Down and shoddy credit is almost an advantage, Mr. Nickerson takes a reality-based approach to his subject. Starting with the want ads in his newspaper, he guides you through the entire process of purchasing an investment property. The chapters on financing are absolutely perfect. The edition I have was published in 1969, yet the information is as valid as it was when written. Certainly prices have changed, ($10,000 homes!)but that aside, this book will make you a fortune. This is one of those books that you start again as soon as you finish it. Give it a shot.

THE BEST

Have read over 100 Real Estate books and find this to be the best to get started and to understand the basics. It helped me many years ago when I started my book: REQE.