Rich Dad's Real Estate Advantages: Tax and Legal Secrets of Successful Real Estate Investors by Sharon L. Lechter, Garrett Sutton Summary and Reviews
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Book Reviews of Rich Dad's Real Estate Advantages: Tax and Legal Secrets of Successful Real Estate Investors
Book Review: Good for a beginner
Summary: 5 Stars
I have really enjoyed rich dad's Real Estate. I must say that I am a beginner when it comes to real estate.. but I thought the book was very well written and coved a lot.Book Review: Lots and lots of info
Summary: 4 Stars
(Available in both book and audio--reviewed as an audio)
Whether you are new to real estate investing, or a seasoned real estate investor looking to maximize your returns, Rich Dad's Real Estate Advantages has something for you.
Beginning with very basic real estate investment tactics such as the 1031 exchange and increasing buying power with the bank's money, and gaining in complexity to taking advantage of tax code and decreasing legal risk, this book continues the tradition of good advice the Rich Dad system is known for.
The audio book version is read by Garrett Sutton, ESQ, one of the authors, with a forward by Robert Kiyosaki (the Rich Dad guru) and Sharon L. Lechter, CPA. The audio is of fine quality with no variation in sound level and Sutton reads it flawlessly. The CDs, whether intentionally or not, also seem to be broken into the three components of the book: introductory real estate investing, tax strategies, and legal strategies, so it would be relatively easy to re-listen to specific sections.
I would say that this book is so full of information that I felt I should be taking notes. Probably, listening multiple times would suffice, but many investors would like to reference specific sections and may prefer the hard copy rather than the audio. Someone just beginning, especially someone who commutes and can listen daily, will see the advantage of information repeat that the audio provides.
Armchair Interviews says: A good book--but this audio format won't be appropriate for everyone.
Book Review: Smarter Investing using Tax Free Advantages
Summary: 5 Stars
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. Book Review: Do you want to be rich? Then read this......
Summary: 5 Stars
I highly recommend Real Estate Advantages to anyone who wants to be rich. You will find out how the rich are getting richer. It is a must-read book for anyone who is serious about getting out of the "I owe, I owe, so off to work I go" Rat Race.
Sharon Lechter and Garrett Sutton really have done us all a big favor with this well-written book. It is easy to understand and filled with real life, practical success stories for investing in real estate.
Book Review: GREAT READ!
Summary: 5 Stars
The tax and legal secrets of a successful investor is a good read on how to hide your assets from the tax man -- legally!! The book talks about investing in tax auctions using retirement accounts and other good investment products. I would definitely recommend this and also recommend another book supplementing the tax auction venture:
Investing Without Losing (ISBN: 0978834607 NOT on amazn, on other stores)