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7 of 7 people found the following review helpful
5.0 out of 5 stars Street Magic
Paul is a game keeper turned poacher. His street-wise style and insider knowledge from his estate agent days make so many other property books look light-weight and fluffy.

The information here is from 20 years of experience and is given in a straight to the point style with many, many tips and pieces of inside knowledge. Paul's strategy for buying cheap and...
Published on 16 Nov 2011 by Martin L

versus
47 of 48 people found the following review helpful
1.0 out of 5 stars Risky "Bigger Fool" Investment Strategy
I am a property investor with ten years' experience and property is what I make my living from - i.e. I don't have a "day job". I not only survived the credit crunch, but kept improving my cashflow regardless, while watching other landlords' properties being sold at auction for a fraction of what they had paid for them (and I still thought they were too expensive!)...
Published 21 months ago by A UK Customer


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47 of 48 people found the following review helpful
1.0 out of 5 stars Risky "Bigger Fool" Investment Strategy, 25 Nov 2012
Verified Purchase(What is this?)
I am a property investor with ten years' experience and property is what I make my living from - i.e. I don't have a "day job". I not only survived the credit crunch, but kept improving my cashflow regardless, while watching other landlords' properties being sold at auction for a fraction of what they had paid for them (and I still thought they were too expensive!) because they had not done their arithmetic when they bought them. So I like to think I know a thing or two.

Now, when a UK-focussed property book comes out I am interested in reading it, to see how other investors shape their strategies. Although I enjoyed the humour in this book and could relate to some of the experiences it describes, I would NOT recommend the investment philosophy it propounds, far from it!

In a nutshell, the Author says he buys distressed (and usually unmortgageable and quite possibly uninsurable) properties FOR CASH, does not refurb them (in fact, he says sometimes he distresses them further, although he does not explain why) and then flips them at auction.

Not only is this a very cash-intensive way to invest but, let's face it, if you take a grotto to auction the only guaranteed thing is the Auctioneer's hefty fees, which you will incur whether the property sells or not, let alone for the price you need to realise to make a profit or even break even.

And while it is possible to pull this off in an overheated, fast-rising market, it is still a risky strategy and one I would not recommend to anyone at any time, let alone in the middle of a recession - which is what we are in at the time of writing.

You also have to consider that if you flip a property you will expose yourself to Capital Gains Tax (currently 40% above about 10k profit) which makes any returns far less attractive.

Oddly enough, the Author also says he can auction off a property when he has only exchanged contracts on it but not yet completed the purchase. I find this rather hard to believe because auctioneers expect to see proof of title before accepting any instruction.

And even if there were auctioneers prepared to accept a property that you have only exchanged on, isn't that a big risk FOR YOU? I say this because even after exchanging you cannot assume the property is in the bag - the transaction CAN STILL FALL THROUGH. It's quite rare, but it does happen, and on one occasion it nearly happened to me. Suppose it happens with a property you have `sold' at auction. If you cannot complete on it yourself, you cannot sell it, so you will not only pay the Auctioneer's fees, but also hefty compensation to your auction buyer. Now, that's a nightmare scenario.

But let us return to the Author's main strategy again. He advises you to PAY ALL CASH to buy a type of property that any sensible person would see more as a liability than an asset - you know, something that needs complete gutting and/or has structural issues, etc.

That's what I call the strategy of a LEMMING jumping off a cliff!!

Excuse me if I have a strong resistance to such `investments'. When I buy a house it's because it's lovely and someone would be very happy to live in it. Then I find a good tenant and ensure I keep the house in good repair and the tenant happy in it. If you follow this strategy and do your homework and maths right, you end up with an ASSET that will bring you a positive monthly cashflow for the rest of your life while at the same time providing a decent, affordable home to someone who could not afford to buy one of their own.

Compare my (perhaps boring and conservative) strategy with the Author's strategy of flogging a ghastly dump to someone who will either end up suffering financially, or will hastily `tart it up' hiding the serious defects and then in turn flog it to an unsuspecting first time buyer - and believe you me, I have seen many such dodgy refurbs in my time! While these tarted up properties cause professional investors to turn on their heels, they invariably attract first time buyers like flies. Lacking the 'clinical eye' they are easily dazzled by the shiny fixtures without noticing that perhaps the roof needs replacing or the foundations underpinning.

My advice is, read this book for fun. You can genuinely profit from some of the 'people skills' it describes, but steer clear of the types of property it encourages you to buy.
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7 of 7 people found the following review helpful
5.0 out of 5 stars Street Magic, 16 Nov 2011
Paul is a game keeper turned poacher. His street-wise style and insider knowledge from his estate agent days make so many other property books look light-weight and fluffy.

The information here is from 20 years of experience and is given in a straight to the point style with many, many tips and pieces of inside knowledge. Paul's strategy for buying cheap and flipping at auction is simple - but not necessarily easy. However, I suggest anyone who needs to deal with estate agents could learn a thing or two here.

Summary: 20 years of knowledge for 10? Looks like you've just found a bargain....
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7 of 7 people found the following review helpful
5.0 out of 5 stars One of the best property books ever, 18 Nov 2011
This is one of the best property books I have ever read. It's for people who are committed to making serious money in property. The book is to the point and is full of practical advice and humour. Paul Ribbons is one of the most experienced people in the property industry and he has overcome adversity in writing this book. Thank you Paul, you are an inspiration.

Patrick Souiljaert - [...]
I am the first property investor with Cerebral Palsy.
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4 of 4 people found the following review helpful
5.0 out of 5 stars Flipping for Fun, 30 Oct 2011
"HUSTLE your way to Property Success" provides a solid foundation in how to become successful as a property trader drawing on 15 years experience and over 500 transactions.
For anyone looking to buy and sell property this book takes you through a collection of steps ,stages,rules,tips and mistakes to avoid using many practical examples so that you can take action and start searching for deals in your area immediately.
I have read the book twice now - first time to get an overview and the second time making key points to cement the information to help me remember.
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3 of 3 people found the following review helpful
5.0 out of 5 stars Short, sharp and straight to the point, 10 Jun 2012
Verified Purchase(What is this?)
Anyone looking for a book on the 'magic formula' to invest in property then this probably isn't for them, as that book doesn't exist! It is a no-nonsense short read with the basic premise of getting off your backside and going out and finding the deals. There are no short cuts or 'get rich quick' themes just a great insight into the authors property dealings. A great motivational read for a novice or experienced investor.
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3 of 3 people found the following review helpful
5.0 out of 5 stars A no-nonsense guide to making money in Property, 31 Oct 2011
By 
Paul E. Reddington "Spike" (Nottingham, UK) - See all my reviews
(REAL NAME)   
Verified Purchase(What is this?)
Part autobiography and part how-to book, this compact manual is full of gems on how to make money buying and selling property.

It's written in Paul's no-nonsense style, even though he's dyslexic, which illustates how determined he is to succeed despite the odds being stacked against him.

I bought it when it first came out at full cover price, and now it's BMV (Below Market Value) so snap it up and make some money!

Spike
P.S. Why is 'dyslexic' such a hard word to spell and read?
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14 of 16 people found the following review helpful
1.0 out of 5 stars Over hyped, not enough detail and too risky, 5 May 2012
Over hyped and not full of relevant property investing strategies and facts relevant to todays market. The book focuses on probably the hardest and most risky way to invest in property, and does not give enough details for you to feel you can do it yourself. Seems more like a PR exercise from the author. You get what you pay for I suppose, because if I am honest I have bought many of the cheaper property books on Amazon and have left feeling like they're all just railroading you in to their hype or courses or whatever.
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7 of 8 people found the following review helpful
5.0 out of 5 stars A great introduction to buying houses for profit, 20 Oct 2011
By 
Andy Churchill (Nottingham, England) - See all my reviews
This book is a really easy read. Paul has written just like he speaks, which is good. It is easy-going yet well-informed and very understandable.

The book is broken down into logical sections, highlighting the different areas of knowledge that are required to buy property and the techniques that should be employed, within each of those areas, to achieve your goals.

Well worth a purchase!
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1 of 1 people found the following review helpful
5.0 out of 5 stars Easy read, packed full of tips, 27 May 2013
Verified Purchase(What is this?)
This review is from: Hustle Your Way to Property Success: Love it or Hate it...There's No Inbetween (Kindle Edition)
I read this book over a couple of days and found it a really enjoyable read. Paul has a writing style that is no nonsense, packed full of relevant information and useful tips and peppered with interesting anecdotes from his years at the coal face. I would thoroughly recommend this book to anyone aspiring to break into the property market or those already doing it and looking to improve their performance.
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1 of 1 people found the following review helpful
5.0 out of 5 stars A quick and easy read, 14 April 2013
Verified Purchase(What is this?)
He wrote this book in 2 weeks and it feels like it when you read it. That's not a deterrent though and there's stacks of info that is totally relevant.
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