The Automatic Millionaire Homeowner: A Powerful Plan to Finish Rich in Real Estate

by David Bach

Book Overview

David Bach's Simple System for Building Wealth Through Homeownership Will Help You Finish Rich in Any Market- Automatically Updated with a new chapter of success stories Owning a home has always been... This description may be from another edition of this product.

• Format: Hardcover
• Language: English
• ISBN: 0767921208
• ISBN13: 9780767921206
• Release Date: March 2006
• Publisher: Crown Business
• Length: 272 Pages
• Weight: 0.96 lbs.
• Dimensions: 0.8" x 6.0" x 8.5"

Customer Reviews

The Automatic Millionaire Homeowner

This is a fantastic book whether you own or are purchasing a home. Mr. Bach has some great tips to help you out along the way. I would highly recommend this book to anyone and everyone who wants to "finish rich".

What better way to help

David Bach couldn't be more right on with the "Automatic" part of his book. I am a real estate agent and for years when someone bought a house from me I would give them a fruit basket or gift card. Now I send them something of great value. I send them this book and only this book. They look a little strange at me at first but after they've read it they become excited and can't wait to begin their journey to be millionaires as homeowners and I got to be a part of it. The return to them will be great. The return to me will be great too.

Renters:Read this book

This book is a 5 star book if you are looking for a book to inspire you to be a first time home owner. 80% of this book explains the entire process of how to become a homeowner, it would have been very helpful to me before I bought my first home 16 years ago. He explains mortgages and how they work, what kind of real estate agent to use and what to look for in making your choices. 20% of this book explains why it is important financially to own your own home. For example: Homes rise in value on average 6% a year. So if your home is valued at $100,000 it will grow in value by $6,000 a year. This can add up quickly in equity and will turn out to be one of the greatest investments you have ever made. David Bach believes that home ownership is essential to becoming an automatic millionaire. This book briefly discusses how wealthy you can become by keeping your homes as rental properties as you trade up to larger homes. This book is not about "flipping" properties it is about owning them for the long term. I would highly recommend a beginner in real estate or personal finance to read this book it will be very useful, however this is not for current home owners or real estate investors. I will be giving this book as a gift to my children when they turn 18. Owning a home is essential to financial success, even though I am uncomfortable with Mr. Bach's advice to leverage debt for multiple houses.My first starter home made me $40,000 in 10 years when I sold it.

Excellent for first time buyers

My wife and I got this book at the Wells Fargo event. True that Bach is now taking money from them and that probably biases things a bit, but generally speaking we found this book to be tremendously helpful in explaining the home buying process. It explains in easy to understand terms the steps needed and the options available. It does mention options that won't be right for everyone, but I thought it also touched on the down sides of these options as well. Overall this book answered a lot of our questions and we are now happy homeowners in part because of it.