Russ Whitney's "Building Wealth"

[WORKEROUTER]

I'm interested in getting into some small real estate ventures. At only 19 and having very little credit or income, I decided to first read Rich Dad, Poor Dad, and now, Building Wealth.

I like the mentality he portrays in the book. Some of his claims seem a bit distorted (like how he turned $1000 into $4.7 million in a year and a half!), but overall, it's pretty cool.

First question is..how feasible are his options. He mentions a few things about having the lender "hold the mortgage" and a few interspersed statements of having "no money down" but doesn't really elaborate.

He goes in depth when it comes to what to do after having the property, but my problem (and I think a lot of people who come to his book) is how do I actually GET the property.

I looked up Whitney online and to my dismay found lots of sources claiming his ideas were either outdated, exaggerated, and some even illegal.

Any ideas? Pointers to helping me figure out how I can make it happen?

 

[Cruise]

Yup.

Check out Robert Allen..

He has a couple of books, the most notables are "The Automatic Millionaire" and "No Money Down".

He also has seminars that teach the step-by-step process of the whole real estate game, and how to really buy property with "OPM", or "Other People's Money".

Basically, the idea goes, that there are stacks and stacks of millionaires out there who want to invest and get a more profitable rate of return on their money than what most firms are offering. While the S&P is averaging 12.5% over the past 30 years, you could pretty much present to these investors your plan on taking their money and returning to them 20-50% Interest, if they could trust you to put it into buying, flipping, and selling it.

My brother actually took Robert Allen's seminar, and bought the real product, some $4,500 of text and notes, plus personal counseling from his people. He now lives in Arizona, and just moved in to a $2,000,000.00 house out in Mesa, all within less than 6 months. Not bad from a person who got in the game straight out of college with no capital for himself. He just had a good network of friends (his college football teammates were both lawyers and accountants, as well as real estate agents), and he had the drive, courage, and reason (newly married) to do so.

In any case, he told me that all the programs work really, you just need to have the faith that can carry you through. Hope that helps... good hunting!

 

[WORKEROUTER]

Thanks for the advice. Any other opinions?