Book Review: "The Millionaire Real Estate Investor"
About the Author
The Millionaire Real Estate Investor is authored by Gary Keller of Keller Williams Realty International. Gary has over 25 years of real estate investing and industry experience. In this book, he uses that experience to explain how to layout a framework to becoming a successful real estate investor.
Why I Like this Book
I like this book because it is not a “get rich quick” program that promises to make you rich with no money down tactics. On the contrary, it explains a method that is a lifelong approach to investing in real estate. His method focuses on always being “out looking” at properties and buying every 1 or 2 years when a great deal comes along. He hits home the message of: learn your market, look for properties that are selling at a 20% discount to fair market value, putting 20% down on the mortgage, and becoming a master of your niche. This is a very similar mindset to Warren Buffett. Buffett teaches us that we don’t have to understand every kind of investment, but we need to define a circle of competency and stick with it. Gary Keller does a good job of carrying this thinking into real estate investing.
Living Below Your Means
During the book, he talks about budgeting personal expenses, living within you means, and tracking your net worth. The idea of living below your means and saving for down payments on properties is something I have never heard from a Robert Kiyosaki book or a “Get Rich” program, but is so important to building wealth.
Profiles of Successful Real Estate Investors
At the end of the book, Gary profiles 21 real estate investor success stories. These stories are encouraging for real estate newbies and all include the same common theme of doing something you love and working very hard at it. I found these stories entertaining and inspirational.
Conclusion
Overall, I think this is a really good book for a new to intermediate investor. It provides very practical advice on how to get started in the business as well as some inspiration. So if you are looking for a good read, I definitely recommend “The Millionaire Real Estate Investor” by Gary Keller.
Comments (8)
We need more book reviews on here
Russell Brazil, almost 9 years ago
Thanks Joel! Appreciate it. Nolo has several really good tax and legal books that are in layman's terms.
I haven't read E-Myth yet, but I need to read it and the 4 Hour Work Week both.
Michael Rogers, about 9 years ago
Hello Michael, I listened it last week in Audible, just a few days after The E-Myth Revisited by Michael Gerber. Both books are really great, I am definitely getting a paper copy of both, I know I'll be using them a lot from know on. I have already use them in business whit a customer, and with a potential partner as well, I felt awesome having this books, inspiring and backing up my approach.
Very Nice Review!
Joel Rodriguez, about 9 years ago
I was looking through some of my really old blog posts and saw this one. It's been 6 years since I wrote this book, but it's still one of my favorite real estate books I'd recommend any new/intermediate real estate investor read. I thought I'd bump this one back up to the top the comments.
Has anyone else read this book lately?
Michael Rogers, about 9 years ago
Thanks guys! I appreciate the positive feedback. I'm always amazed how many books, programs, etc. are out there that aren't very good. I sometimes think there are as many "get rich quick" programs available as there are newbie investors. So it's nice to come across a good book every once in a while.
Michael Rogers, about 15 years ago
Your right this book is great. Because as you said its not as the other books that has "get rich quick†program that promises to make you rich with no money down tactics.
SouthbendBankOwned, about 15 years ago
Nice review. Keller's books are used in class study at the university level while most others aren't. That should tell you all you need to know.
Brian Levredge, about 15 years ago
Gary Keller does a real good job with this book. Highly recommended. Accurate review!
Jaime Vasquez, about 15 years ago