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Summary: Chapter 22 - How to get rich panhandling
Review: Is about the only chapter you wont find in this slop. I dont know why he left that one out. He wrote a few pages about anything else he could think of. You would probably make more money begging on a street corner than with what this joker proposes. What a pathetic job this convict author has done.
Please read through all the reviews and get a good picture about what is going on. Notice the same theme in all the cult-like glowing, positive reviews? Makes you wonder what kind of stake all these reviewers have in the success of this book.
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Summary: CD version- pointless gobledegook
Review: I listened to the cd version of this book out on Nightingale Conant and I couldn't wait to post here.
Robert Allen tries very hard to project the kind of emotional excitement that a Tony Robbins does and falls weirdly, woefully short. Two quotes from the book standout: He describes ideas coming from California as a "Stench" that crosses the country (helloooo all my California listeners!) and he LAMENTS that an employee of his sexually harrassed another employee and he missed out on the "fun" (exact quote) while getting sued. Sexual harrassment is "fun" to Robert Allen? I listened to that three times because it made no sense, but it's his words, not mine.
Let's hammer out some financial details. Allen spends way too much time talking about compound interest. We all learned about that in Junior High "Consumer Math." He uses examples of 20% gains year-by-year over a period of 40 years to prove his point. It is irresponsible for anyone to suggest to a reader that you can get consistant 20% gains over the long haul (anyone have single digit stock market gains after 9/11/2001?) - therefore all of Allen's compound interest examples are fantasies. All he had to do was live with acceptable 10-15% interest gains for 40 years and I wouldn't have complained. Allen then backtracks on a chapter on "Tax Lien Certificates" and says people could be pleased with 14% gains. What happened to 20% gains? Allen also backtracks claiming that to get 20% growth one needs to invest in real estate properties as well as the stock market. Individual Real Estate properties do NOT provide compound interest- it's a great investment and can provide 20% gains annually, but it's not an example of compound interest it's an example of the rising value/cost of an item.
Allen claims that investing in real estate is a way to generate multiple income streams without getting paid for "hourly" work, but the reality is that real estate investment as a landlord is a sizeable amount of work OR one pays someone to manage properties which reduces profitability. There is no win/win with properties, you either work or you pay- no one is lucky with 8 great tenants- one is going to give you headaches. Allen's section on Tax Lien Certificates fails to mention that investor groups dominate the auctions and that in many counties, the tax lien on more than 50% of the properties is more expensive than the property is worth- aka lose/lose. No one talks about Tax Lien Certificates because in the real world they don't work (although you can probably make some $ giving seminars about them).
one last comment galled me. Allen claims that people buy "too much house" for themselves and if they lived in a smaller house they'd reduce their costs and could get richer faster. wrong. a) people don't pay more money for house SIZE Robert, they pay more for real estate locations in good neighborhoods with good schools and low crime rates. In a subdivision, most houses are the same general size. b) More expensive houses in my city appreciated at greater percentages in the 1990s than less expensive houses. Large house = better investment, so where's the problem with a big investmant property?
I have multiple streams of income right now that require a lot of effort and I wanted help to expand into new ideas and new markets, but this book is wacked.
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Summary: Reveal your potential Gold Mine(s) and money stream(s)
Review: Don't look any further than yourself, this book will introduce you to what you need to do to unleash the potential within. The book starts with the basics about money management and then expands into a phylosophy of money management that opens-up more than one source of income. Not any source of income, but sources that develop residual income - business income you develop in the medium term that allow you to get paid many times for work you do. Although Robert Allen is very enthusiatic about the techniques presented, there are no get rich quick schemes here, just sound strategies you can apply to suit your own style. Methods are presented to allow you to manage your money effectively, invest money effectively, write books or other information products with information you already know, network marketing possibilities, internet businesses, and of course Real estate. After reading his book, I was very excited and started taking steps to improve my financial situation. I am now a successful self-employed consultant, solid investor and developping internet business owner. A must-read book for everybody trying to understand how to improve his or her situation.
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Summary: Something Fishy Here...
Review: I've noticed (and you will too) that a lot of the "reviews" for this book also contain ads for websites that the "reviewer" says you should go to "to get more Robert Allen Info!". Of course, when you go there, you find that it's a site dedicated to some network marketing/pyramid scheme. These aren't reviews, they're ADVERTISEMENTS.
Now, there IS some good advice in this book, but it's really only news to people with little to no education. Compound Interest...wow.
POSITIVES: The Tax Lien Certificate thing. Good Basic financial advice. Fun to read while you're drunk and come up with crazy get-rich schemes.
NEGATIVES: Hopelessly naive appreciation of the internet (when was this written? The author refers to *choke* COMPUSERVE as an example of a successful online business). Same old No-Money-Down stuff you've seen a million times on late-night TV.
Anyway, probably the best advice these guys give is to start a business where you advise others on how to make money. Of course, you bought the book so you already knew that!
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Summary: Robert Allen Does it Again
Review: This is without doubt Robert Allens best book. I have read all of his books including Multiple Streams of Income and The 1 Minute Millioniare along with Creating Wealth and Nothing Down. I am a huge fan of Robert Allen. He is a fantastic coach,writer and businessman.
In well written, Robert teaches you everything you need to know to get into cyberspace and successfully operate an internet business. While there are many books purported to help you get online and build a internet business, how many actually work? There is so much junk on this subject.
Also recommend Multiple Streams of Income for ideas that will make you think out of the box. I also found an interesting website that corresponds with Mr. Allen's ideas. Check it out at http://Choose.successfulpeople.com This is the link Robert Allen Recommends in the book and has additional FREE Robert Allen Reports.
I hope you find this as inspiring as my team has
PS Using the info I got in this book I completely replace my Executive income in less then a year. Now I can stay home with my kids.
Rating: 
Summary: Surprisingly down to earth
Review: After reading the reviews I was prepared to find a lot of crackpot information in this book, but I was very surprised with the soundness of the financial advice.I ordered it with the thought that, well, I can take the advice with a grain of salt, but it will be good for inspiration and ideas. And it is. Mr. Allen's advice is to build a solid financial foundation first, then try to add one stream of income per year. Enough time for anyone to do their homework and thorougly investigate any of the ideas and income streams and make up their own mind what's right for them. Very useful and inspirational.
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