Most Helpful Customer Reviews
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31 of 32 people found the following review helpful:
3.0 out of 5 stars
Hard to get into, sells the idea but not much step by step guidance, 10 Aug 2007
I agree totally with some earlier reviews saying that, whilst Andy obviously knows what he is talking about, there is a lot of waffle in the book, it could easily have been half the length, and you tend to switch off a bit when reading it.
The format and layout is hard to follow, there are no set sections on raising money, equity release, etc, you have to search hard through the book to find specific references to these topics and to find out exactly how he did it! I became quite frustrated reading it and wished he would just get to the point.
I feel the book is more about selling the idea of property investing, which he does very well, but doesn't actually explain in great detail how to do it and, in particular, how to build up a portfolio. He also talks a lot about pulling out equity from properties to put down as deposits on other properties, but he doesn't take into account any of the fees associated with this, and makes it sound a lot simpler and cheaper than it is. Mortgage companies don't provide these services free of charge!
A few people have mentioned his website and we have joined since reading the book. I have to say that the website is far more educational than the book, there are other investors on there all asking the same questions and you get lots of responses when you post a question, and you can actually pose questions to Andy himself, which we have done a few times, and he always answers. So I think the website is good value for money, particularly when you are just starting out and have hundreds of questions. It's very good to be able to get advice from other more experienced investors that you wouldn't be able to get anywhere else unless you knew people that were investing.
So yes the book is ok, but I personally think his website is better! Yes it costs £40 p.m. but you can unsubscribe at any time and once you are up and running with your property portfolio you probably would no longer need it. He seems like a nice genuine guy, I was just expecting a bit more step by step guidance in the book.
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45 of 50 people found the following review helpful:
3.0 out of 5 stars
An advert for the website and passive investments, 9 April 2007
I purchased this book and read it from cover to cover but was continually irritated with constant references to the website of which you have to pay to be a member. References also to Passive Investments where if you don`t want to do this yourself because as the author states the way he did it is nuts, then the very easy way would be to hand over at the present time a fee of £35,000.
First of all I do not want to join the website and secondly I bought the book to explain the vital cogs in the wheel.
The author enthusiastically tells the reader that you can borrow the money but doesn`t recommend specifically who from and doesn`t explain the best way to go about this, but of course go to the website.
Oh yes raise the money through equity, did he explain specifically how? No. The author did not explain needed step by step procedures about getting this equity only that you can get equity.
To finalise, for me the book explains what the author did and you can do but not how to do it.
Then later to find emails from the author and no response from mine by the way about Open Day seminars but don`t come along if your credit rating is not good. What? I thought anyone can do this now I`m told I need a good credit rating.
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32 of 36 people found the following review helpful:
1.0 out of 5 stars
440 Pages of Drivel - Avoid Like the Plague!, 11 Nov 2007
Make no mistake, I love property and property books, but this one is bad beyond belief! The author heavily borrows from all the self-development best-sellers and mangles their ideas into a pitiful mess lacking all of the original clarity, detail and wit. He rambles incessantly about how he `made it' rather `despite himself' and then he calls himself an `expert' - oh, yes, and he claims he is a `logical person' too! As well as not providing any valuable information whatsoever, this book's standard of English is nothing short of cringeworthy - and I have the 2nd edition!
Perhaps I should also warn prospective readers that some of Andy Shaw's so-called `advice' is in fact WRONG and could cost them money. For example, apart from demonstrating that he does not know the difference between a survey and a valuation, on p. 345 he also writes in his customary cringeworhty style:
"When buying a flat you have not got the problem with roofs, you have not got the problem with the structural [sic] because that is the free holder's [sic] responsibility. The chance of getting big, big mistakes is really limited to the electrics and the boiler. So your level of mistakes is not going to be high on the type of properties I am advising you to go for."
Now, this is complete and utter rubbish because any structural repairs will always be paid for by the lessees, not the freeholder. In fact, if there is a greedy or dishonest freeholder, the lessees are likely to be presented with an inflated bill. Sadly, this is not an uncommon occurrence. It is therefore quite surprising that Mr Shaw does not know this, as he purports to own over 200 flats - or does he?
If you really want to learn about property investment, read Real Estate Riches by Dolf De Roos and Beating the Property Clock by Ajay Ahuja. These two books are packed with real insights and information, and together will give you all the tools you need.
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