5 Magic Paths to Making a Fortune in Real Estate

By James E.A. Lumley

Book Overview

A new and revised edition of the commonsense guide to real estate riches

More and more people are discovering that real estate investing is a safe and affordable way to increase their cash flow and build lasting wealth. If you want to achieve financial freedom, then look no further. 5 Magic Paths to Making a Fortune in Real Estate reveals the proven real estate investment strategies that many of today's millionaires used to make their fortunes. In fact, you don't even need a lot of money to start investing and start putting cash in your pocket today

Real estate expert James Lumley offers simple, straightforward explanations of the most common and lucrative approaches to property investment--including fixer-uppers, lease/options, wholesales, buy-and-hold, and single-and multifamily rentals. You'll understand all the basics of real estate and learn to use these five strategies to make a killing in any economy. Packed with new information--including sections on the IRS's simplified tax exchange rules and the capital gains exclusion--5 Magic Paths to Making a Fortune in Real Estate will show you how to:
* Find foreclosed, repossessed, or condemned properties
* Research the markets and perform valuations
* Determine what you can safely afford
* Negotiate with sellers and buyers
* Find the best financing terms, including seller financing
* Price and perform money-making repairs
* Work with agents and contractors
* And much more

• Format: Paperback
• Language: English
• ISBN: 0471548251
• ISBN13: 9780471548256
• Release Date: May 2004
• Publisher: Wiley
• Length: 336 Pages
• Weight: 0.95 lbs.
• Dimensions: 0.9" x 6.0" x 9.1"

Customer Reviews

A Comprehensive Introduction to R.E. Investing

Folks,I read this book, loved it. Passed it to a friend, who passed it to a friend. I haven't the vaguest clue as to where it is now. The only reason that I write this is because the book is an awesome way to introduce people to real estate investing.If you are already aware of what you can do to make money in RESIDENTIAL Real Estate then this book is not for you. There is very little detail that you would find useful in this book, that wouldn't be better explained in another more advanced book, or even a college course.However, I stress that this IS "THE BOOK" for those new to Real Estate investing. It covers the basic strategies for those who are interested in knowing what options and methods are available to them in Residential Real Estate Investing. I hope this helps. Please vote if it does.

Great for Novices

I'm just starting out in Real Estate Investing, and this is the first book I've read on the topic. The book explains the 5 "paths" in a way that, as a beginner, I can still understand, yet its far from being simplistic. I was expecting this book to be just a basic "overview" of Real Estate investing, but the author gives you a lot more inforation than just the basics.

This book contains what the $5,000 seminars have... Buy it..

I'm a fulltime real estate investor and I've spent thousands on RE courses and materials. This books is the BEST I've read under $500! It contains the High-end Techniques that the expensive courses call "SECRETS".This is Must-Buy for anyone that wants tot get in on the $ in Real Estate Investing.