The Part-Time Real Estate Investor: How to Generate Huge Profits While Keeping Your Day Job
Fortune Magazine states, “97 out of 100 self-made millionaires made their fortunes through real estate investing, and the next 10 years will be a ‘Golden Era’ for the informed real estate investor.”
If you are saying to yourself, “That sounds great, but I can’t quit my job and begin investing full time. I’ve got bills, kids in school, car payments, and a mortgage to support,” you are in luck. This new book is for you!
You will learn how to become a skilled, professional real estate investor that can generate thousands, and yes, even millions of dollars, in your spare time. Unlike starting a retail business, where you need to be there every day, you can work a full-time job and invest in real estate on the side,and reap huge profits. The key is time. The real estate investing business is a perfect part-time business because real estate is a business in which the assets appreciate and cash flow is generated even when you are absent.
This new book will give you the information and advice necessary to buy, finance, and successfully manage a small number of positive cash flow producing properties in your spare time. Investing in real estate is one of the safest and smartest investments you can make. Real estate appreciates at a rate far greater than the rate of inflation, builds equity, provides a steady return on investment, provides cash flow, and can offer substantial tax benefits. With the sound guidance in this book you will be able to retire comfortably and EARLY!
A sampling of what is covered in this encyclopedic book includes: how to find below-market deals, investing with little or no down payment, seller financing, foreclosures and REOs, investment property, negotiating, purchase offers, managing rental property, flipping, auctions, tax sales, financing, mortgage terms, agents, cash flow, inspections, contracts, tenants, lease agreements, insurance, taxes and accounting, escrow, essential mathematical calculations, sample forms, development, taxation, exchange rules, and regulations. This book is loaded with case studies and success stories — from real people. You will uncover secrets that expert PART-TIME real estate investors use every day. This comprehensive resource contains a wealth of modern tips and strategies for getting started in this very lucrative area. This book is the foundation for understanding how to invest in real estate.
I found it an incredibly hard book to put down. The author offers a solid, common sense approach to investing in real estate. Essentially blows away the get rich quick schemes touted by many popular real estate investment books and seminars today. The author discussed at length, the many different types of real estate investing and what works better given certain situations. He also listed types of contacts to make and how to get investments leads. The information provided gave sound advice that was realistic in scope and ideas. The case studies and bonus tips sprinkled throughout the book add an extra measure of “you-can-do-it-too.”
Even includes an exhaustive glossary listing of real estate and investment need-to-know terminology and definitions. This is definitely a very informative and necessary book to read before and while embarking on the journey of real estate investment. Avoid the pricy seminars and read this book first.
Comment by Leah Lestina — September 28, 2007 @ 9:37 am
I agree with Leah above. Here’s a review I posted at Amazon:
I’ve read and reviewed a number of “how to make millions investing in real estate” type of books, and I didn’t think I’d ever need to read another one, since they are mostly the same (in varying degrees of quality). However, I was attracted to the Part-Time Real Estate Investor precisely because of the humility of its title — it seeks to help real people achieve real income from real estate while keeping their feet planted solidly on the ground. Since I know the realities of the current real-estate market precludes the possibility of doing it full time (at least from my starting position), I decided to take a gamble on this book, and I wasn’t disappointed.
As with any “how-to” real-estate investment book, the Part-Time Real Estate Investor covers a lot of ground, and thus is skimpy on the details in some areas. Fortunately though, this book focuses on some areas that are ignored by the pie-in-the-sky type of investment books. For example, it spends ample time on subjects like “Buying Your First Home,” buying a home with bad credit, “Land Contract and Lease Purchases,” etc. The bad credit chapter was particularly informative, I thought, as it examines whether or not you should buy a home with below-average credit, given the higher interest rates you’ll incur. Most books are simply rah-rah for homebuying (and selling), but this one is more sensitive to individual’s situations.
There is no ONE book that will tell you everything you need to know about being a real-estate investor, but this one is a good place to start, particularly for people with realistic and modest goals. Others, like those from the Rich Dad series or by author William Bronchick, are also helpful, especially from a psychological perspective. But this book contains some of the best pure information of any I’ve read. I would advise others in my shoes to grab this book as well as two others I recently reviewed, Inspect Before You Buy (by Charlie Rose) and Your Real Estate Closing Explained Simply (by Michelle Blain), which go into those two areas in greater depth than this book is able to. No ONE book will teach you all you need to know, but these three books as a set come pretty close!
Comment by J.D. Seagraves — September 28, 2007 @ 10:40 am
Review on Part-Time Real Estate Investor
It is always easy to write a review on a book that appeals to you right from the beginning. And these words are heartfelt. Of course, to see whether this book is good or bad, in any sense, we have to read it. So pluck up your spirits and open it! Once you have done it, it is almost impossible to put the book down.
To better understand how the money world works you do not have to spend years of research and live your life in secret labs. Simply go out for it. Money world is around you, maybe even in your neighborhood. That is what Dan W. Blacharski, the author of the book, tries to explain. But do not get discouraged thinking that the author is going to give a lecture — one of the many on ‘How to Get Rich in a Fortnight’ we can attend any time in any city of the country. That is quite another story.
Holding in mind that there are still lots of things to learn, we are free to choose between seminars, real estate programs and the books on the corresponding topic. I am not sure of whether these seminars are useful, but I am pretty certain of the fact that Part-Time Real Estate Investor really inspires. I am not a real estate guru in terms of buying and selling, but I devoured this book within a single day. Moreover, next morning my first purchase was a newspaper with lots of real estate related materials. Am I going to be an investor? I am sure I am going to try.
The majority of people out there think starting their own business is a risk and even a waste of time. Let them think so. I am sure we are not this kind of men. Yes, there are some obstacles on your way to good money and even wealth. But they are nothing comparing with what you will get. Dan W. Blacharski gives compact and precise information on how the whole business works. Unlike the lecturers and tutors in a college, the author opens you the doors to the core of real estate business and quite clearly states that ‘there really are no secrets in real estate wealth building’.
The book is perfectly designed. The chapters consist of subtitles, which give you direct information on how this or that method/trick works or does not work. Then there are lots of myths of the trade that help you escape the reefs of the business. PART-TIME REAL ESTATE INVESTOR TIP is a common insertion where the author either summarizes the ideas of the chapter or provides examples of real estate routine work. Such notions as creative financing, REIT, tax deduction, promotion of homeownership are not just labels — they are thoroughly explored and clearly explained by the author. A friend of mine, who is a teacher, said when she finished the book, “Well, this book sounds like Zero Conditional!” I could not have expressed myself better.
You know, after the first reading of Part-Time Real Estate Investor I was not satisfied. I realized I need a second reading. I was so much overwhelmed by the book having finished the last chapter that I was thinking of it the whole night. The whole business turns out to be quite a nice deal to try and there are no limitations! Real estate investors get to be rich by learning from their mistakes, and by not giving up after the first failure. Paraphrasing Margaret Thatcher’s famous words, I want to say that you have to sell/buy a house more than one to get rich. And frankly, that seems not a very hard work to do…
Comment by Artem Chobanian — November 9, 2007 @ 3:24 pm
Not only was this an enjoyable read, but also intriguing. I have always wondered how it would be to dabble in real estate. The Part-Time Real Estate Investor lets you see into this world, and actually see yourself in it. Mr. Blacharski gives all the detail a reader needs to jump in and invest in that first property. He outlines how to proceed slowly at first and become knowledgeable about your properties. Then take it to the next level to build a real estate portfolio. The information in this book will give you the confidence to delve into investing for yourself.
This book not only gives you solid advice and strategy, but also discusses and dispels many of the get rich quick schemes that have been so popular of late. You can not get something for nothing and the author explains exactly how the “no money down” schemes work. There are lots of easy to follow financial examples that demonstrate how to figure profits, expenses, closing costs and the like. When he talks about doing things that are risky, because nothing in this world is secure, it really hit’s the mark with me. This book goes into detail about the confusing real estate world. It’s really a no nonsense guide to real estate investing.
I would recommend this book to anyone - really! This may very well change your life.
Comment by Edie Jewell — November 13, 2007 @ 3:06 pm
You gotta love a guy who opens a book about part-time real estate investing with the information that he hasn’t “had a real job in 15 years.” Dan W. Blacharski then proceeds to explain in exhaustive detail how you, in 15 years (perhaps less), can write the same sentence.
Among the many things you’ll learn from reading The Part-Time Real Estate Investor: How to Generate Huge Profits While Keeping Your Day Job is the fact that while the shortest distance between the two points (idea and success) isn’t really all that long, the actual path can be long and winding and you should, first and foremost, prepare yourself for a less than instantaneous journey.
“There may well come a point when you will be working only a few hours a day and taking in millions,” he writes, “but that point is not today. It will take a lot of hard work to get there.”
You will also learn that in many ways, bankers and real estate agents are not going to be your best friends in this investment endeavor of yours. In fact, Blacharski will explain, they will often be at odds with your goals. Real estate agents earn commissions from the sale of a home and are likely, therefore, to view alternative methods of purchasing real estate with considerable skepticism. Banks are in business to make money. They are not in the business of making you money, so like the real estate agents, they will tend to view any creative financing ideas with the same sort of skepticism. Alternative methods of purchasing real estate and creative financing ideas are the backbone of the method(s) that Blacharski details in the book.
He walks you through it all, clearly and concisely, detailing all of the alternatives and creative financing arrangements that are available and desirable to the potential, part-time real estate investor. What seems clear is that many of the people who’ve trod this path (i.e., those who’ve made initial investments and parlayed the profits into millions) did so by using some combination of the techniques outlined in this book.
What is not so clear is whether you, dear reader, will be able to do the same thing, especially if the plan actually entails maintaining a full-time ‘day job’ while you explore the possibilities inherent in real estate investment. To his credit, Blacharski makes no claim, offers no guarantee and doesn’t climb on a media soapbox claiming that you’re going to be a success through the simple application of the principles he outlines. He tells you upfront that it’s going to be hard work and in many cases, will involve failure. He recommends that you absorb such failure and soldier on, using each instance of failure as a lesson learned, not to be repeated.
If there’s a concern about how this information is laid out for you, it’s that it has a tendency to come at you like a comfortable shower, which is all well and good, as long as you don’t have to pay strict attention to and retain a specific memory for each drop of water that lands on you. It’s just a lot to absorb in a single setting, or two even, or even the amount of time it would normally take you to read a book. Without a photogenic memory, you’re going to have to go back and re-visit the concepts and specific details of each situation in order to effectively utilize the strategies and tactics that Blacharski has outlined in this book. Some of it, of course, will come with experience, but even initial experiences with this investment route will need to be supported by a strong knowledge base that can’t realistically be learned simply by reading the book.
This is not necessarily a bad thing. The devil, as we all know, is in the details, which, no matter how clearly Blacharski outlines them (and he does do that), will still be your responsibility to execute. Bearing this in mind and being aware that this book is a blueprint, not the finished ‘building’ of wealth that you, as a potential part-time real estate investor, are seeking, the 290 pages of clearly articulated and well-written information are well worth your time.
Comment by Skip Maloney — January 9, 2008 @ 12:32 pm