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Summary: The original worked for my Dad, and now it's my turn...
Review: I was always suspicious of "get rich quick" books, and all books on making lots of money in general...how does one tell BS from truth?...aren't they all BS?I asked my dad, A financially independent, self-made man who lives on the other side of the country from me, and whom I respect a great deal, how I could get started down the same path he did. "Nothing Down," he told me. "By Robert Allen."
And he told me the story of how he used a trick called "the double mortgage crank" to buy a building nothing down and walk away from the closing table with the deed to the building and cash in his pocket. So I went and I bought a copy...
and what do you know...I think he was right. This book has been a tremendous inspiration to me, and can be to anyone aspiring to make themselves a place in the world. Robert Allen not only teaches techniques that can be used in the real-estate market, but through these techniques, you learn how to become a creative investor, and THATS where the incredible value lies. While I'm still a bit sketchy on some of the finer points of the real-estate market (I'm roughly 2/3s through the book), it's things that can be quickly learned from experience, or through more traditional real-estate books (though I've heard that allens other books are quite good at teaching these...)..and this is the only negative thing that I can say about "nothing down for the 90s" Even for the skeptics...at the very least, this is an informative and entertaining read...but there IS a reason why Robert Allen is #1, and this is it. And for those who think this book is all about taking advantadge of other people...think again...this book deals with finding people who are motivated to sell their properties, and then solving their problems while solving your own. It's called "win/win business", and that seems like some very fine business to me. I couldn't reccomend this book more...I think it will change your outlook.
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Summary: This book worked!
Review: I've recommended this book to a lot of people because it worked for my family. I found it at the library a couple years ago, and it helped me come up with creative ideas for gettting into our first home--a fixer-upper in a great neighborhood that we wouldn't be able to afford through conventional financing. I'm buying the book now because I want to refer to it again now that we're ready to acquire investment properties.
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Summary: One of two must read real estate books.
Review: In my opinion, "Nothing Down" is one of two must read real estate books the other being "Creating Wealth" also by Allen. Using the advice in these two books, I was able to buy my first home with NOTHING DOWN and by investing in good, quality, cookie cutters was able to complete pay off my mortgage in five years. I am debt free and financially independent thanks to the advice in these two great books. As far as the so called realtor with licenses in Missippi and Florida, I know real estate investors in Florida and Georgia who are using Allens techniques successfully. Home owners near foreclosure look at us as a solution. They save their credit and get something out of their property. It's called "WIN/WIN". And I am not picking on realtors. I know many realtors who also try to help people and are only concerned with their commissions. This so called "realtor" needs more training. I highly recommend Mr. Allens books. I think these books get a bad rap because they appear to be "get rich quick" type of books. My goal was never to be a millionaire or "get rich quick." But by using the advice in this and Creating Wealth, I have been able to get richer, quicker, am debt free and financially independent. It doesn't take a million dollars, just the right plan. Thank you Mr. Allen for a great, no, make that three great books. I also recommend "Multiple Streams of Income."
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Summary: One of two must read real estate books.
Review: In my opinion, "Nothing Down" is one of two must read real estate books the other being "Creating Wealth" also by Allen. Using the advice in these two books, I was able to buy my first home with NOTHING DOWN and by investing in good, quality, cookie cutters was able to complete pay off my mortgage in five years. I am debt free and financially independent thanks to the advice in these two great books. As far as the so called realtor with licenses in Missippi and Florida, I know real estate investors in Florida and Georgia who are using Allens techniques successfully. Home owners near foreclosure look at us as a solution. They save their credit and get something out of their property. It's called "WIN/WIN". And I am not picking on realtors. I know many realtors who also try to help people and are only concerned with their commissions. This so called "realtor" needs more training. I highly recommend Mr. Allens books. I think these books get a bad rap because they appear to be "get rich quick" type of books. My goal was never to be a millionaire or "get rich quick." But by using the advice in this and Creating Wealth, I have been able to get richer, quicker, am debt free and financially independent. It doesn't take a million dollars, just the right plan. Thank you Mr. Allen for a great, no, make that three great books. I also recommend "Multiple Streams of Income."
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Summary: New Ideas
Review: It seems great get started book in real estate. This book is very encouraging and makes investing perhaps easier than it really is, but it is good and accurate as far as it goes.
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Summary: Treasury of Fresh New Ideas
Review: It seems great get started book in real estate. This book is very encouraging and makes investing perhaps easier than it really is, but it is good and accurate as far as it goes. Robert Allen writes in an easy to understand style: "I can do this. And you can do this too!" That shouts out that real estate is an investment that the average person can comprehend and accomplish goals of financial success. This book is a treasury of fresh new ideas, which are very valuable for young real estate markets as Russia today is. Another value of this book is that Robert Allen provides specific schedules, which explain the relevant cash flows associated with different decisions on the same property. Highly recommend. A must read for any serious real estate investor.
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Summary: Informative. Good ideas.
Review: It seems the readers of this book are very much against the techniques (because of possible bankruptcy) or very for it (because of the possibility of getting rich). I'm with the latter group; beware of naysayers. Yes, I, as much as anyone else in this world, run the possibility of going bankrupt by taking chances. But you come into this world without a shirt on your back, and after dieing your shirt will eventually disappear too. It's the interim that scares everyone--"What if I lose my shirt now?" Personally, I'd rather lose my shirt and be able to say, "Damn it, at least I tried!" And, as far as security goes, real estate is a much better investment than stocks, because at least you have more control over your building (though the neighbors might drag yours down a little). Now, I wouldn't quit my regular job (just yet), but I'd like to think that some day, using the techniques in Allen's book and that of other investment entrepreneurs, I will be able to some day. Allen's book is intellectually invigorating, and he offers concepts that can be really helpful. He doesn't suggest "cheating" anyone out of anything; rather, he promotes honesty and "I win; you win" situations. He doesn't promote ripping anyone off. I can find properties that are distressed at rock-bottom prices, fix them up, and re-sell them quickly at fair market value by offering creative terms. If the real estate market "bottoms out" and prices go down 20 percent, which contradicts trends over the past 30 years that have shown 4 to 7 percent increases per year in most major areas (except, perhaps, in areas of L.A. where there were major fires brewing several years back and many dangerous and angry people) I'm still going to make at least a 200 percent return on my investment and under-cut everyone else if I must. The beauty of real estate is that no matter the situation, everyone needs shelter. In summation of Allen's book, I'll say that I have a habit of bending the top of a page if I come across a good idea on it. After reading "Nothing Down for the 90s," half the book has bent pages. The only thing his book doesn't cover very well is the lease with option to purchase, and I think "Lease Purchase America" by John Ross covers that topic quite well (for small investments, i.e. 1-4 family buildings; it lacks for commercial investment ideas). Much like Ross's book, I'd give this one five stars, but nothing is perfect (though I think Allen's book is the best real estate investment book I've read out of over a dozen).
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Summary: Creative and Specific
Review: My perception: if an author promises me I can build enormous wealth from nothing, the scheme is one of two things. Either I'll be learning to take advantage of someone else's ignorance, or the author is planning to do the same to me.
Not so with Robert Allen's "Nothing Down for the 90s". There are ways to acquire real estate with little or no risk to the buyer and nothing up front invested. Allen is specific, detailing many creative deals he and others have made. His prose is readable and inspiring, making the book a fast and informative read.
His credibility lies in this: to execute such deals requires research and cunning. "Sweat equity" in a sense, in negotiating a buy; replacing money with effort. Although these ideas are not for getting rich quick, they do enable one to buy with nothing down. Even better, the seller is happy too.
Not for the faint at heart, but definitely do-able ideas.
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Summary: Ethics doesn't seem to matter
Review: Nothing Down for the 90's is simply another way of saying that "Greed is Good." The author's unethical use of SPAM marketing invades the privacy of countless email accounts and further undermines legitimate attempts by people to use the internet in positive non-offensive ways.
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Summary: Worked for me too. Happy Easter Robert
Review: Nothing Down is the all time real estate classic and still selling for only one reason--It works. There are other books out there written by non real estate investors who just like to write books. Allen is a real estate investor. This book is for real estate investors who want to know what works, not theory on what might work. I highly recommend Nothing Down. It's the best. Also recommend anything else written by Robert Allen that you can get your hands. It has not been nicknamed "The Millionaire Teacher" by his students for nothing. HE KNOWS WHAT HE IS TALKING ABOUT. Great book. Thank you Robert and Happy Easter!
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