Review by Cash-Centered Creep -- The Employee Millionaire

[Cash-Centered Creep]

[Following is a volunteer review of "The Employee Millionaire" by H. J. Chammas.]

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4 out of 4 stars

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The genesis of The Employee Millionaire by H.J. Chammas was the Great Recession of 2008. The financial havoc of a decade ago compelled Chammas to educate himself about real estate, and thereby transition from living off checks earned from his own labor to living off passive wealth generated from a real estate portfolio. The lessons that Chammas learnt in his pursuit of financial independence forms the content of this book; Chammas clearly takes the view that if he can do it, so can you.

The book is divided into two parts, which in turn are divided into two sections: the first part covers general finance topics in the sections “Where Am I Now?” and “Why Am I Here?” In this first part, the basics of personal financial management are outlined, and concepts such as assets, liabilities and cash flow are dealt with. There is little to quibble with here; Chammas outlines how someone can better their financial position in general here, and this alone would be enough to recommend it.

The second part is the real meat of the book. Here, in the sections “Where Do I Want To Be?” and “How To Get There?” Chammas lays out the tools that a prospective real estate tycoon would need to achieve that status. Controversially, Chammas advises putting yourself into a position where you would qualify for bank loans to help fund your investments, using your status as an employee as the basis for qualifying. However, he states that it is necessary to take such risks and not to allow “limiting beliefs” to hold you back, and the plan he outlines does recommend sensible ways to appraise the real estate investments on offer.

The Employee Millionaire benefits from Chammas’ accessible prose and clear argumentation. The conversational tone that he employs, and the anecdotes he weaves into his arguments, are both much easier to relate to than is the case with many finance and investment textbooks. Consequently, many people who are looking to get off the 9-to-5 treadmill yet lack fundamental understanding of real estate will benefit greatly from the practical, down-to-earth advice that Chammas offers within this book. For Chammas does not just address the practical aspects of investing in real estate, but also the mindset needed to successfully invest.

In summary, The Employee Millionaire deserves 4 out of 4 stars. It is a well-written, practical work that has plenty of charts and illustrations to help elaborate the points made in the book. Chammas has performed a real service here, and one suspects that he has written the sort of book that he wished was available to him when he was starting out. Those wishing to follow in his footsteps will benefit from the roadmap that he has provided here.

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The Employee Millionaire
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[Chi Chiu Michael Mak]

Real estate is a proven passive income method, but many people running the nine-to-five treadmill may not be familiar with its concepts and daring enough to take some risks. This book serves as a proven roadmap. Appreciate the review!