10 thoughts on “The Automatic Millionaire Homeowner

  1. says:

    My attention to detail skill was absent when I bought this audiobook on iTunes I wanted The Automatic Millionaire, but bought the Real Estate version by accident While I still want to go back and read that book, I cannot recommend this particular book Bach begins by stating the stock market cannot produce the returns of real estate His disclaimer is the book is written in 2006, so some things may change when the reader goes through it He mentions his methods are timeless because everyone ne My attention to detail skill was absent when I bought this audiobook on iTunes I wanted The Automatic Millionaire, but bought the Real Estate version by accident While I still want to go back and read that book, I cannot recommend this particular book Bach begins by stating the stock market cannot produce the returns of real estate His disclaimer is the book is written in 2006, so some things may change when the reader goes through it He mentions his methods are timeless because everyone needs a home He discusses building wealth through borrowing other people s money While he spend 12 chapters talking about building a portfolio of real estate, he does not adequately discuss risks invovled I give him credit for stating that get rich quick does not work and that the reader should take tiime to build their real estate wealth This is because the home is one of our most valuable investments I just cannot begin to agree with his methods of using debt to build wealth If you read the Total Money Makeover by Dave Ramsey and you want to know what this book talks about, then here s what you will find Take most of Dave s principles and do the opposite If you go this route to build wealth, keep Dave Ramsey s phone number ready to call when the banks start calling in your notes I ll take financial peace over wealth with debt any day


  2. says:

    Wow This book was written at the height of the housing bubble As such, many of its assertions are downright laughable For example, the author claims anyone can and should get a home loan, even if you have bad credit and no money for a down payment Also, the author reasons that the average income of homeowners is greater than that of renters therefore, if you want a higher income, buy a home Are you kidding me Correlation is not causation.Certainly there were a few good principles in t Wow This book was written at the height of the housing bubble As such, many of its assertions are downright laughable For example, the author claims anyone can and should get a home loan, even if you have bad credit and no money for a down payment Also, the author reasons that the average income of homeowners is greater than that of renters therefore, if you want a higher income, buy a home Are you kidding me Correlation is not causation.Certainly there were a few good principles in this book which are outlined in it s parent the Automatic Millionaire , but many of the assertions and assumptions were so ridiculous, I must recommend not reading this book Disclosure I must admit I did not completely finish the book it was just too painful


  3. says:

    My wife and I went to a home buying seminar put on by our credit union, and one of the speakers recommended this book It s a quick read, and although it s a little dated author David Bach is writing in 2005 just before the housing bubble crashed, and he also over explains some computer things like how to access Google the main points still seem valid Namely, it s easier andaffordable to buy a house than many renters assume especially if you aren t holding out for a dream home , re My wife and I went to a home buying seminar put on by our credit union, and one of the speakers recommended this book It s a quick read, and although it s a little dated author David Bach is writing in 2005 just before the housing bubble crashed, and he also over explains some computer things like how to access Google the main points still seem valid Namely, it s easier andaffordable to buy a house than many renters assume especially if you aren t holding out for a dream home , real estate that you aren t buying just to flip is one of the best low risk ways to build your finances, and paying half your monthly mortgage fee every two weeks won t squeeze your budget too much but will net you the equivalent of a whole additional month s payment every year, drastically reducing the overall interest you will pay over time.Bach does include some tiresome cliches like cutting out a daily latte as another pathway to prosperity, and he mistakes correlation for causation when he notes that the average renter has far less personal wealth than the average homeowner, but these faults are oddly so glaring that it s easy to see past them to the advice that s good And while theadvanced topics in the book like leveraging one house purchase against the next, converting your home into a rental property, and gaining the millionaire status of the title are not currently as interesting relevant for me, I d still recommend it as a good introduction or crash course for anyone else looking to transition away from renting in the near future


  4. says:

    I found this book to be surprisingly useful Well not a guide on how to become a millionaire, it is a guide on how to buy a home He wrote this book on the way up of the big real estate crash in 2007 and 2008 Much of his perspective is shaped by a real estate market that s going crazy and dubling rapidly Perhaps we ll be in an environment like that again, but most real estate keeps up with inflation and isn t the best investment However, if you re looking to buy a house like I am, you ll find I found this book to be surprisingly useful Well not a guide on how to become a millionaire, it is a guide on how to buy a home He wrote this book on the way up of the big real estate crash in 2007 and 2008 Much of his perspective is shaped by a real estate market that s going crazy and dubling rapidly Perhaps we ll be in an environment like that again, but most real estate keeps up with inflation and isn t the best investment However, if you re looking to buy a house like I am, you ll find a lot of useful tips in this book


  5. says:

    Some good points, but very outdated and out of touch given the choices of examples and publishing in 2006.


  6. says:

    I remember reading this book when it was new, around 2006 or so, and the advice not to buy condominiums as investment properties has stuck with me ever since This book says condos have too many rules and regulations which will drive you nuts and waste your time, such as demanding doors and shutters be repainted a certain color by a certain date etc.


  7. says:

    One might think that a book about making millions in the real estate market that was written in 2005 would be hopelessly irrelevant today However, that is decidedly not true about The Millionaire Homeowner David Bach turns out to have been remarkably prescient about the housing and lending crash of these past few years In fact, in this book, he describes the causes and effects of the crash in detail, before they happen, and advises against each of them return return I d highly recommend thi One might think that a book about making millions in the real estate market that was written in 2005 would be hopelessly irrelevant today However, that is decidedly not true about The Millionaire Homeowner David Bach turns out to have been remarkably prescient about the housing and lending crash of these past few years In fact, in this book, he describes the causes and effects of the crash in detail, before they happen, and advises against each of them return return I d highly recommend this book to anyone for several reasons First, it is short and an easy read Second, it is an excellent primer for basic real estate and finance terms and concepts Lastly, I firmly believe in his path to wealth and that he has grasped a measured, sober way to build wealth and value that is pretty approachable He has lots of gems like It isn t timing the market, it is time in the market return return If you are renting, or if you own your own home, you should read this so that you can better understand your next step This book is great even for those who think that buying their own home would be impossible And shockingly, it is probably even good for those who have been bit by the downturn and need to know what went wrong, or what to do differently next time


  8. says:

    Yes, I m reading yet another David Bach Finish Rich book I ve just really been enjoying his quick read books and simple, easy to understand approach to financial planning I thought this book would be a good refresher course to home buying as we look to buy our second home in a few months This one focuses on how to use your house to become a millionaire by basicly explaining how to get the best mortgage and saveon interest, as well as how to invest in second and third homes to create eve Yes, I m reading yet another David Bach Finish Rich book I ve just really been enjoying his quick read books and simple, easy to understand approach to financial planning I thought this book would be a good refresher course to home buying as we look to buy our second home in a few months This one focuses on how to use your house to become a millionaire by basicly explaining how to get the best mortgage and saveon interest, as well as how to invest in second and third homes to create evenwealth All this info is really great considering he gives info that is useful regardless of what the current housing market is doing He doesn t suggest flipping homes, but as like other investments, buy properties and hold And as usual, his style is very motivating and encouraging


  9. says:

    Practical advise aimed at the first time home buyer If you are thinking about giving up renting, but aren t sure, if you are confused by the various types of mortgages and financing, if you are scared of picking a realtor, this book will be helpful If you ve already purchased a home, it is simply a refresher.It has a brief section on the value of renting your first home while living in your second which is interesting The author is careful to not over hype the value of homeownership, and he c Practical advise aimed at the first time home buyer If you are thinking about giving up renting, but aren t sure, if you are confused by the various types of mortgages and financing, if you are scared of picking a realtor, this book will be helpful If you ve already purchased a home, it is simply a refresher.It has a brief section on the value of renting your first home while living in your second which is interesting The author is careful to not over hype the value of homeownership, and he certainly didn t underplay the risk its interesting to note that this book written in 2005 warns about the risk of the housing bubble bursting before it happened The author doesn t blow smoke to make sales.Recommended for First time home buyers, especially single people in their 20s


  10. says:

    Similar ideas to Bach s The Automatic Millionaire A Powerful One Step Plan to Live and Finish Rich only with specific application to owning a home mortgages, etc Similar ideas to Bach s The Automatic Millionaire A Powerful One Step Plan to Live and Finish Rich only with specific application to owning a home mortgages, etc


Leave a Reply

Your email address will not be published. Required fields are marked *