Buy & Rent Foreclosures: 3 Million Net Worth, 22,000 Net Per Month, In 7 Years...You can too!

I recently read Joseph's book on my Kindle. I had been involved in a few transactions before the last "crash" and was reluctant about getting in the market again. I read the complete book thru twice, and studied the numerous graphs and charts that show you exactly what numbers he uses to analyze a deal and determine the potential ROI. Clear, concise and to the point. Joe presents a duplicable, specific business strategy for success. His concept of focusing on single family housing, garage rental and student housing rental markets is sensible, and can be adapted to any geographic area. The 4 keys to success in the business are: 1.Read the book. 2. Get your team together (Realtor/birddogs to help you find properties, someone to help you fix the property, and have your exit strategy in place, i.e. ; will you keep the property for rental income, get it rented and sell to a long term investor for a nice markup, or sell retail to an owner occupant buyer for a bigger profit. 3. Get out and Do It. 4. Repeat steps 1-3. This is one of the greatest markets in decades to be in the Real Estate business, and Joe has presented all the tools needed to succeed, including every form and spreadsheet you need to run your business. Thanks, Joe, for getting me back to the basics of the business, and giving me the push I needed. Since reading your book, I have purchased my first investment property in 5 years and will have it renovated and ready to rent in about 2 weeks. I'm looking at several houses each day and my plan is to buy and renovate a minimum of 2 each month. Joe's book gave me the tools, plan and motivation I needed to get back in the business.

I've read a lot of investment and real estate books, and I enjoyed this one, it's short and limited in scope, but well worth the price unless you are already a pro at this stuff. The basic idea of buying and holding property is not exactly unique, but the author shares enough personal experience that you'll likely take something away from this that would be or will be helpful. My problem with the book is only that I live in Brooklyn ny, and there just aren't any 50 thousand dollar houses around here to get started on with a small scale. I know in lots of the country there are neighborhoods with suburban homes in the 200K and under category, but around here, that's the down payment. So borrowing from family or getting a cash advance on your credit card isn't that easy. Now, as to the number, buy, hold, rent, be careful, etc., I think it's very doable and the book shows how. I'd be looking to follow the exact path the author took if I lived elsewhere. As a side note, I appreciated what he had to say about the scams out there for investment schools and training the whole "no money down" hype, and also the whole "flipping" business, which is a very difficult business, not an easy beginner investment strategy. So, unless you're really a seasoned pro, there is probably something here you'll gain from, and the price is very fair, give it a shot.

This author is the real deal because he is the only person I know who has listed the specific details (settlement date, purchase price, estimated market value, monthly rent, PITI, gross margin, monthly expenses and annual net) on 62 properties he actually purchased. Real numbers and actual deals closed, helped me finally understand real estate investing like no other book (and I have read a a lot) has done. I also enjoyed the brutal honesty he displays when talking about the mistakes (again using real numbers on real deals he has done) he has made along the way. His stories made me laugh out loud while silently thanking my lucky stars that he saved me from making the same mistakes. The only reason this book lost 1-star is because he often refers to resources/spreadsheets/checklists not found in the book. You need to go to his website and buy that information separately.

What a refreshing change! Five Stars. This is a book you read - put away for a few days, and reread again starting on page one. Not only does it give good advice, but it's very entertaining and never dull. It's a page turn - you can't put it down until you find out what happens next. It really gets you thinking that yes, it really can be done. While I gave the book five stars - one question remains unanswered. Where did he get the money? Mr. Nelison said he started investing at 61 without a job or pension - so he must have had some savings, friends, business associates, - somebody who helped him purchased his first foreclosure. The money is always the catch-22; so if you are a broke 61 year old, with no job, no pension, and in the NFL club (that's both No Friends Left and No Funds Left) - you may have a harder time than Mr. Nelison. Still, I loved the book. Hope for me as a 42 year old to get my act together still.