Property Magic: How to Buy Property Using Other People's Time, Money and Experience Paperback – 21 Aug 2012
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About the Author
Simon Zutshi is a financially independent, professional property investor with almost two decades of experience investing in residential property in the UK and overseas.Simon started investing in 1995 when, as a first time buyer and a recent graduate in debt, he found a strategy to purchase his first property (his home) using none of his own money. By renting out the spare rooms, he was able to cover the mortgage payments and effectively live for free! Caught by the property bug, Simon started to buy more property and, by the age of 32, he was financially independent due to the passive income generated from his property portfolio. Since an early age, Simon has been interested in the art of magic. He started to perform professionally at the age of 15 and became a member of the world famous Magic Circle in his early 20’s. Simon has often said that investing in property draws many parallels with magic, in that once you know the secret, what seemed impossible before is simple to achieve. As with any magic trick, knowing the secret is not always enough, and in order to become truly successful, you must practice and apply your knowledge with skill.In 2003, Simon founded the Property Investors’ Network, which is now a nationwide organisation, to provide a supportive environment for investors to learn more about investing, with the aim of maximising their return and minimising the risks.Simon now spends most of his time helping and educating other investors by sharing his ‘hands on experience’ gained over many years as a successful investor. He is one of the few property speakers in the UK who is a member of the Professional Speakers Association. As such, Simon is regularly invited to share his residential property investing strategies at the large property exhibitions and entrepreneurial business conferences in the UK and around the world.
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Top Customer Reviews
It is possible to use his method ethically, but you need to make sure greed doesn't cloud your vision.
Having said this, the book does contain some good common sense information about property investing. This can be summarised as:
1. Buy properties at below market value by looking for distressed sales, repossessions, etc.
2. Wait about a year, and then remortgage at full market value (remortgages are done on a valuation basis not on a price paid basis).
3. Use the resulting cash for a deposit for another property.
5. Let out your properties so the tenants are paying the mortgages.
There are no real methods of buying your first property without a deposit in the market today, so I question the subtitle of the book. I was especially sceptical about the chapter on "purchase options" - while they work in theory, I doubt many people have actually used this method in reality to buy a property without a deposit.
But wait... £500 to go on a seminar if you want and he is also providing DVDs and CDs... maybe if i also buy them???
Not impressed, two stars as well its got some intelligent aspects, but not worth the (done in a couple of days) casual read.
After a while, I started to see the book more critical. The book has a couple of case studies which are said to come from real property investors. The investor explains how money was made with a property deal. Suspiciously, almost every author mentions how he attended Simon's Mastermind workshops and how it helped him/her to get into property investing. It becomes fairly annoying towards the end, as the author (to an almost embarassing degree) promotes his seminars in each case study. While I was waiting for more content and more real life examples to come at the end, the content turned into common sense advice. The point where I disliked the book is where I was presented with 11 pages of advertisement for the author's Seminar's in a 167 page book. This annoying self promotion is enough to loose 1 star in the rating. The author states clearly that you should use your time efficiently so you have enough of it to get involved in property investing. I wonder why he puts so much effort in his seminars which raises the question whether teaching what to do may actually be more profitable than doing it.
The second star I have removed is for the super optimistic presentation of the whole subject. Simon rarely mentions the worst case scenario, everything sounds so easy and "magic" to speak in his own words. He teaches to build up property portfolios and mentions that some people (including himself) have portfolios worth over a million.Read more ›
Most Recent Customer Reviews
Great book, Simon Zutchi knows his stuff. I have put some pointers into practice and am benefitting from them now.Published 1 month ago by Diamond
If you want to read one book on property read this book. excellent book.Published 5 months ago by Farrukh I.
This book is fantastic and has taught me a lot of new property investing strategies even though I was an experienced investor before I read the book. Read morePublished 9 months ago by Amazon Customer
Very well delivered book, with a courtesy letter, and other extra gifts, I like the attitude of Simon Zutsi.Published 14 months ago by Alfredo Sanchez