Book Reviews On Real Estate
Rich Dad, Poor Dad by Robert Kiyosaki
What we like about this book is it gives the fundamental underlying idea of how your money can work for you versus you working for your money. Although the book is simplistic in nature, it offers an abundance of theories on why it is so important to have your money work for you. To obtain true wealth, you must come to realize that having all your money work for you, i.e. mortgage equity, stocks, bonds, retirement accounts, etc., is essential. Understanding the power of leveraged money makes you wealth at a much greater velocity. This is a great entry level book.
Why We Want You to be Rich by Donald Trump and Robert Kiyosaki
This book focuses on taking control of your own destiny, which is what FDC truly stands for. The book has some unique perspectives on the philosophy and education of real-estate investing. If one pays attention to the different takes that each author has, you can obtain a greater insight to how both Trump and Kiyosaki became wealthy.
Last Chance Millionaire by Douglas Andrew
This book is one of the favorite books of the FDC Services group. It goes into great detail, both in literature and in diagrams, to show you how equity sitting in your home or any financial vehicle, if it is not leveraged properly, it is actually losing you money due to inflation, etc. The book also covers time value of money, and how taxes can erode your retirement in the future. Having your money be in tax structures that allow you to maximize your retirement dollars is essential, and this book does a great job on going over those strategies. Although FDC Services believes in investing with the power of real-estate more than insurance programs as Andrew covers, this book will definitely open one’s eyes to the power of numbers. Andrew’s book is one of the single best books I believe any investor can read.
IRA Wealth: Revolutionary IRA Strategies for Real Estate Investment by Patrick Rice with Jennifer Dirks
An excellent read on just what an IRA, 401K, Roth or traditional instrument can do for you. This book covers A to Z on how to set up a self directed retirement account. The book covers buying real-estate, real-estate notes and other non-traditional real-estate investments within a self-directed IRA or 401K plan. The book also covers how to buy a business using a self-directed retirement plan, and goes into great depth on the rules and regulations of these retirement plans. A great book on not only how to set up but all the advantages of having your own self-directed retirement plan. Please see here for more information on IRA/401K retirement plans.
All About Self-Directed IRA Investing by Steve Merritt, MBA
This book is in the same venue as IRA Wealth, as it discusses why the self-directed IRA is such a great investment. It also looks at how to take advantage of a self-directed IRA. This book takes a more in-depth look at self-directed retirement plans, with charts and plenty of details, such as on tax strategies on tax deductibles and non-deductible IRAs/401K plans. Merritt’s book is good to read after IRA Wealth, as you will take the knowledge from IRA Wealth and go further into that information with Merritt’s book. If you are a small business owner looking to invest some of your gains and alleviate tax consequences, this is the book for you. Please see here for more information on IRA/401K retirement plans.