The Millionaire Real Estate Investor
by Gary Keller with Dave Jenks and Jay Papasan
When Wendy Patton bought her first investment property she was living in a hotel, made $20,000 a year, and owed that much in student loans. Today Wendy has bought and sold more than 600 houses.
Jimmy and Linda McKissack struggled for years to turn a restaurant and nightclub into a sustainable business. They began supplementing their income through investment properties. Within five years they went from a handful of investment homes to 83 residential properties worth over $10 million.
When Danny Williams accepted an early retirement package from Delta, he owned 11 rental properties and had two children in college. Danny says he’s now “totally unemployable" by choice and in complete control of his destiny.
Based on extensive research and interviews with over 120 millionaire real estate investors like these, Gary Keller’s new “how to" guide reveals the models, strategies and fundamental truths millionaires use to become wealthy through real estate investing.
His book, The Millionaire Real Estate Investor (McGraw-Hill; May; Paperback: $21.95), written with Dave Jenks and Jay Papasan, hits bookstores just as real estate investing has gone mainstream. According to the National Association of REALTORS®, in 2004 nearly a third of all sales were second homes or investments.
“By tapping the wisdom of millionaire investors from across the country, we’re sharing investment models that can be duplicated by anyone in any market." Keller explains, “These are the foundational strategies every investor must know in order to maximize their financial wealth." But the book isn’t just about real estate. Through his research Keller discovered that millionaires think about money quite differently than others. As a result, this book also takes a hard look at the money myths that hold some people back and the money truths that let others soar. The book begins by exploring the “MythUnderstandings" about the way people view investing. For example, Keller explains despite what most people think, investing by definition and design isn’t risky. Millionaire real estate investors employ time-tested strategies to avoid risk and, in the end,
take luck out of the game.
By the end of the book readers will be able to:
• Think a Million: Develop the financial literacy and mindset of a millionaire investor
• Buy a Million: Amass a real estate portfolio with a market value of a million dollars or more
• Own a Million: Turn investments into an asset-based business with ever-increasing net worth
• Receive a Million: Build an investment empire that provides a million dollars a year in passive income
Keller concludes with twenty-one inspiring and enlightening profiles of real-life Millionaire real estate investors whose wisdom permeates the book, as well as appendices containing a series of easy-to-use worksheets.
According to Mike Summey, co-author of the bestselling The Weekend Millionaire’s Secrets to Investing in Real Estate, “This book is not just a bargain, it’s a steal. It’s filled with practical, workable advice for anyone wanting to build wealth."