3 out of 4 stars
Share This Review
You might recognize the name Terry Records from the show Rent it? Flip it? or Run? which she stars in with her husband, Jason. I've personally never seen their show as I live in a different country with different channels, but ever since I learned about real estate investment I've been getting my hands on as many books about it as I can. Imagine my delight when I saw Records' book Millionaire Mom: $5K to $6.5MM Real Estate Investing (You Can, Too!) up for review! The fact that she has her own TV show and has been in the real estate investment business for over 20 years assured me that I wouldn't be wasting my time reading this book.
Millionaire Mom: $5K to $6.5MM Real Estate Investing (You Can, Too!) follows Records' journey and starts in the 1990s when she was a single mom trying to make ends meet as a real estate agent. It describes how she found out about real estate investment, what methods she used to decide upon and purchase her rental properties, how she upped her monthly cash flow and refinanced to purchase even more units, and how she built her team. Records went from holding 2 units to 100, making her net worth millions of dollars.
I was genuinely impressed by her success, but as I said earlier, I have read up on real estate investment before. None of her concepts were particularly surprising, although she did use some terminology that was new to me. Her explanations of the processes and calculations she used were very vague, although this could be because she offers calculation sheets and other resources for free on her website. The book itself is very short, so overall I got the feeling that it was more of an introduction to the idea of real estate investing rather than a how-to guide or book for investors who are actually ready to take the plunge and are looking for something a little more thorough.
I did find a handful of minor mistakes through the book. Also, two other things bothered me a little. At the end of the chapters, Records would answer questions, kind of like an FAQ. However, some of her answers did not actually relate to what was being asked, and a majority of the time the answer was, "We'll talk about that in a later chapter." Also, she often put links at the ends of the chapters promoting her website and encouraging readers to make appointments with her for investment counseling. I wouldn't have minded the self-promotion if it was just once at the end of the book, but every other chapter was a bit much.
Overall, I would give Millionaire Mom: $5K to $6.5MM Real Estate Investing (You Can, Too!) 3 out of 4 stars. It is definitely more for beginners and should only be viewed as a light introduction to the subject. I would recommend it to people who watch HGTV and are interested in flipping houses or renting out properties, but have no idea where to start or what is involved in the process. I would not recommend it to people who want a technical, in-depth guide to real estate investment, although if you really are interested in the subject it never hurts to see what other successful people are doing.
Millionaire Mom $5K to $6.5MM Real Estate Investing (You Can, Too!)
View: on Bookshelves | on Amazon
Like katiesquilts's review? Post a comment saying so!