Michael Rossi: "1 Minute to Rental Property Riches&quot

[Jimmy NA]

I don't know if anyone has reviewed the book here, but all serious investors must read "1 Minute to Rental Property Riches" by Michael Rossi . This book delievers the truth about rental property purchasing and ownership. Mr. Rossi does away with all the rosy portraits of "making big bucks fast" in real estate. The author tells the reader what the inexperienced investor doesn't want to hear: rentals are work, and its tough work. Though the ideas presented by the author may not be new to the industry, few heed them. Rossi drives home the approach that rental properties must be purchased at a discount. This is a must. The numbers must be scrutinized closely and expenses will run, without fail, higher than must anticipate. Rossi drills in the 45-50% rule for expenses. Expenses will run you 45-50% of Gross Rents, this can not be avoided. He buttresses his ideas with real life experience. Rossi is the anti-guru Guru. He buries the great-rich-quick BS pushed by so many "gurus" selling books, tapes and seminars nowadays will his first-hand accounts. Slow and steady (and with attentiveness to the numbers) wins the race, says Rossi. Though he does not explicitly say it, I think Rossi would agree that new and experienced investors can not get caught up with the excitement of buying without first looking vigilantly at the true costs of running a rental property. It is a business, says Rossi, and with all businesses one must carefully consider true costs and true returns. What the book does not address throughly, and I wish it did, is how to find the properties that will operate as successful "mini businesses." So, toss your rose-colored eye glasses, buy this book and read it twice. I give it a (9).