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A solid introduction, sometimes a bit abstract
on 4 February 2015
Review courtesy of www.subtleillumination.com
Rich Dad Poor Dad is a tremendously popular series, and has sparked a number of spinoffs, including this one, focused on real estate investing. It is intended for a novice in the field, and focuses on apartment buildings, though many of the lessons are also relevant to single-family homes. McElroy’s approach is also quite mathematical: he focuses on calculating your return on investment, and then using that number to calculate what the building is worth. Buy it only if you can get it for less. Words that could have done a lot for people who suffered in the sub-prime crisis, I suspect.
The book is not as strong as some of Rich Dad Poor Dad’s other works, but if you have a particular interest in real estate, it’s a solid introduction. I think for most people, though, the sums he talks about in buying and selling apartment buildings make it seem a bit far away: many families have experience buying single family homes, but most haven’t considered buying multi-million dollar apartments. The principles are the same, but it makes it feel less relevant. Still, if you can get past that (or are considering buying apartments yourself!), then a good introduction to a very popular field.