Buy this before you spend big $$ on a seminar
Most of this audio program (13 CDS and 1 DVD) is from an actual weekend seminar recorded in New Zealand. These seminars typically cost a lot of money, sometimes over $1000, so this CD/DVD program is a bargain. I listened to it driving to and from work and for the most part Dolf kept me engaged. I'm on a first name basis with Dolf, because after listening to him speak and interact personally with the audience for 15 hours, I feel like I know him pretty well.
His style is disarming and low key. He seems very approachable and works to make the content accessible. That's great for a beginner or intermediate investor. However it can drag if you are very familiar with the fundamental elements of real estate investment (REI).
Psychology and motivation are doled out liberally. He works to help us believe anyone can do this and that you can learn 90% of what you need to know in a couple of months. He spends a good amount of time on the psychology of negotiation and the value of finding motivated sellers. The audience role plays and then reports back. They look for deals in the newspaper, call the sellers, then evaluate the deals. Audience members describe their actual deals for the group's evaluation. Dolf tells about his own winning deals.
Dolf tells us that REI is really easy. Perhaps it is if you really know what you are doing, but he doesn't warn enough about making mistakes. And one mistake in REI can cost you for a very long time. He really glosses over the risks, especially of over leveraging. He ignores or downplays transaction and ownership expenses. Once you are experienced, what he describes can become easy.
His signature proposition is: "The deal of a decade comes along every week." I have found this to be true when I am actively out looking. This makes it a lot easier when you miss a property that you want, knowing that another great one is around the corner. "Don't fall in love with the property, fall in love with the deal." Let the numbers do the talking.
He also teaches to hold for the long-term and finance all your properties. And as you build equity, borrow more cash against your holdings to do more deals. Don't pay off any of your properties. Hmmm, this has burned plenty of investors over the past couple of years.
He wants us to use property managers so we don't get bogged down in the nitty gritty of land lording. He is all about tax efficiency. He teaches that you should invest in the best possible areas, whether that means out of state or internationally. I would only recommend that to experienced investors.
This gets 4 stars for newbies, and 3 stars for moderately experienced investors. Dolf really is a good and entertaining presenter, but for more depth and techniques, look elsewhere.
This review on Amazon:
http://www.amazon.com/gp/cdp/member-reviews/A1M2I4A22YXB1A/ref=cm_pdp_rev_all?ie=UTF8&sort%5Fby=MostRecentReview
