Do you *really* need money to make money? Not according to best selling author and real estate investor Phil Pustejovsky! I was given the chance to read his book How to Be a Real Estate Investor, a guide on how to get started in real estate investment even for folks who don’t have cash or credit to put on the line.
This book is written in a very user-friendly manner, in a style that makes you feel like Phil is already mentoring you through the process (which he basically is). It begins with the author’s personal “rags to riches” experience as he entered into the world of real estate investing. He discusses how broke he was, how he stumbled into the field, and how he went about making his very first deal (with the help of a mentor). That first chapter makes you believe that this is something that you, too, could do.
There’s a LOT of information in this book, especially for people like me who aren’t very familiar with the ins and outs of real estate. Pustejovsky does a great job breaking it all down and simplifying the vast amount of information for the newbie, providing explanations and definitions along the way. He talks about how there are different strategies for real estate investing in up or down markets, and the importance of figuring out your “why” (as in, why do you want to get into real estate investing?) He asks you to consider also what you want to get out of real estate – do you want a tax-friendly way to put money you already have available to work, or do you need fast cash to stay afloat right now? He covers both “fast cash” and “build long term wealth” for both types of potential investors.
One thing I really appreciate is that Pustejovsky emphasizes honesty and integrity in all business dealings – as he puts it, don’t do anything that you’d be ashamed to have described in detail on the front page of your local paper. He also provides helpful “Wisdom Keys” and lots of Real World Examples from students he mentored, with anecdotes about some of the successful strategies they’ve used to invest in real estate.
Another bonus? People who purchase this book get free access to a list of great resources through a website link contained within it:
- Real Estate Investor IQ Test ($49 Value)
- 7 Habits of Highly Successful Investors Audio Training ($97 Value)
- “Think & Grow Rich” by Napolean Hill Book ($17 value)
- “How to Win Friends and Influence People” by Dale Carnegie Book ($17 Value)
- Special VIP Access to apply for Phil Pustejovsky’s exclusive Apprentice Program (Priceless)
Near the end of the book is a section on choosing your niche, with bulleted lists that break down the basics of various types of investment opportunities: wholesales, commissions/fees, pre-foreclosures, short sales, foreclosures, tax deeds, rehabs, traditional purchases, buy and holds, creative finance, tax lien certificates, and notes. (If you don’t know what some of these are, don’t worry – neither did I, and he covers them all in enough detail to get you started within the pages of the book). Personally, my husband and I had a lot of luck with a bank foreclosure property (although we purchased it to live in rather than as an investment), a house that also falls under rehab (aka a “fixer-upper”). Our house, a century-old Victorian that had been chopped up into apartments by the previous owner before the bank foreclosed on it, already has an estimated value of double what we paid for it, and will only increase in value as we repair, remodel, and restore it.
If you’ve ever been curious about real estate investing but had no idea how to get started, this is definitely a book you need to grab! Learn more by clicking here.
Disclaimer: I received a copy of this book free of charge to facilitate the review. This post was created in partnership with Mom Buzz Media and all views and opinions expressed above are my own.