Rich Dad's Real Estate Advantages: Tax and Legal Secrets of Successful Real Estate Investors

by Sharon L. Lechter and Garrett Sutton

Book Overview

* A practical guide to planning your estate from the author of Own Your Own Corporation and How To Buy and Sell A Business.

• Format: Paperback
• Language: English
• ISBN: 0446694118
• ISBN13: 9780446694117
• Release Date: January 2006
• Publisher: Business Plus
• Length: 261 Pages
• Weight: 0.82 lbs.
• Dimensions: 0.8" x 6.0" x 8.9"

Customer Reviews

Great motivational and informational book

What can you say? It's another rich dad book. Very informative and written primarily by professionals with an in-depth view. The book is a good read for anyone. It gave me a lot to think about and some things to discuss with my team. No dull spots in this book. Read it cover to cover in a few days. Worth reading twice.

A Very Good Book

It certainly should be in your library. You're sure to find at least one or two nuggets that will more than pay for the book. Perhaps you'd like to look into this one too: The WealthLoop Series Beginner's Guide to Building Wealth Buying Houses: The Foolproof Roadmap to Real Estate Riches Without the Risks and Hassles of Landlording.

The First Book to Truly Teach Real Estate Method

This book does for real estate investing what Pimsleur does for language learning: it teaches you to speak the real estate language, to ask knowledgeable questions, and to make informed decisions. I have been through dozens of books, tapes, and CD programs on investing in real estate. Some are strictly motivational with little useful information. Others are like reference works and cannot be read from beginning to end. Still others hope to be meaningful forever and so dare not give you anything too current, or disputable and likely to change. Lechter and Sutton, however, wrote a book to turn a dreamer into a real estate investor. If that's what you still want at the end - but you have all the info to make the decision. Other reviewers might say that there are no "secrets" in this book - true, I suppose - but if YOU don't have a tutor for the subject, then for YOU common knowledge is a secret! The authors give separate advice for dealing with primary residence and for investment properties. Most other books blur these separate cases. Special cases where individual state law might differ from the general situations are pointed out. Case studies and repetition are used throughout - much like Pimsleur uses conversation in each language lesson. The reader brings everything learned earlier to each case, but is stretched just a bit to see why each case is unique. Each chapter builds on prior chapters. Included is the required amount of math, but this is clearly not a math book. On the contrary, it is an enjoyable read cover-to-cover. Some of the material is current as of 2006 and this is clearly noted. I hope this book gets updated every few years. While technically part of the Rich Dad series, the book stands on its own. The reader is fully aware of the few tacked-on references to the Rich Dad philosophy. This book is a must-read for anyone thinking about a career in real estate investing in all its forms. Consider it the second book you read - after something like "Home Buying for Dummies."

A Rich Dad book with solid information

Rich Dad has a series of books, with the best selling one mainly a motivational one. This book is an exception, it actually offers practical advice and tips on how to properly setup real estate investments and corporate assets. Not just how to motivate you with words. -Matt Illustrator for the Ultimate Foreclosure Kit (ISBN 0978834658)

Smarter Investing using Tax Free Advantages

This book is designed to help you develop a smarter real estate acquisition plan. It shows how you can look hard at your assets and liabilities and develop a leverage plan for purchases and a tax advantage plan to maximize your cash flow. There is some good advice on networking, mentoring, joining a local real estate club and building a team of advisors. The explanation of tax strategies, depreciation and insurance is not as strong or in depth as I'd liked to have read. However the chapters on tax-free exchanges are very enlightening; especially to those of who have read about it but have been afraid to do a 1031. The book also offers other good advice on homestead advantages and responsibilities for legal due diligence. The strength of the book for me, and probably most other investors who have less than 10 properties, is (1) the advice on asset protection; e.g. use of a Limited Liability Corporation, and (2) smart use of the tax-free advantages in 1031 exchanges. I strolgy recommend it for those who have a few properties and are ready to make a bigger bolder move in real estate investing.