Enough: True Measures of Money, Business, and Life

Bogle mostly laments the fact that many of the old values in American, and presumably world, business are all but defunct. It seems that simple ideas like long-term service to clients, fair employee compensation and the level of expected business returns have all but gone out the window in favor of a single goal. Profit. And more of it.

He also points out, in great detail, the systemic problems now becoming plainly visible in the financial systems of the world’s developed countries today. That part in itself was a very interesting and educational read.

Bogle comes from the “old school” in that, he way he was raised (“to save rather than to spend”) which is all but looked down upon these days especially in America, in my opinion. Bogle says that too much emphasis is put on success and what success is supposed to look like when really, success is subjective. You are the one who must decide what makes your life a  successful one. And I have to agree wholeheartedly.

This book definitely gave me some homework to do with my own perception of success.

In the interest of full disclosure; I have been a Vanguard customer for about 8 years and I love their products, customer service and philosophy in general.

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Book Review: “Enough” by John C. Bogle

Ms. Evans goes into quite a lot of necessary detail regarding the purchase of properties at various stages of foreclosure. She is clear and to-the-point about many misconceptions the general public has about buying properties in foreclosure.

One point that bears repeating, is that properties advertised for sale as “foreclosures” are typically listed at or very near market prices. This is due to the fact that the bank holding the mortgage lists the property for the appraised value or a value based on a broker price opinion (BPO).

Another good point imparted by this book is that buying foreclosures, whether by investors or individuals intending to occupy the property, is not to be entered into without preparation….or a strong stomach. It seems that there are a great many things that could go wrong with the sale and there is so much work involved that, from an investor’s (my) perspective, the payoff had BETTER be worth it.

According to this book, the work involved coupled with the problems that can arise make investing in foreclosed properties not worth it in my personal opinion.

In general though, this book does a great job of explaining the complexities involved in purchasing properties in pre and post foreclosure and the one big take away is that, if you’re not experienced in this area of real estate, retain a good attorney who is.

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Book Review: The Make Money On Foreclosures Answer Book

So I set up a bookstore to feature these books. Most of the books in the bookstore, I have found to be quite helpful and informative. I should note, however, that certain books I’ve read on the subject, namely those written by Robert Kiyosaki of Rich Dad Poor Dad fame, I DO NOT recommend as I have found them to be over simplified and not very true-to-life.

In fact, the only book of his that I recommend is Rich Dad Poor Dad mostly because of the “cashflow quadrant” device he uses to explain why you usually can’t get rich working as an employee for someone else.

If anyone has any suggestions for additions, please let me know and I’ll consider adding them to the list.

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Landlord Success Bookstore

Retire Rich from Real Estate

This is a great book because not only is the subject of investing in residential real estate covered completely but there are lots of interesting tidbits of information that can help you decide which type of rental property is right for your market, location and temperament.

Also, the complete “life cycle” of the investment is covered. There are explanations about how to determine which property to buy, how to finance it the best way, how to manage the property properly(i.e.- deal with tenants effectively) and finally, how to sell the property and cash in.

One of my favorite chapters is chapter two which goes into the demographic makeup of renters and how they affect the local rental market. This chapter also sheds some light on what the future demand for rental property will be and how you can profit from it.

Another plus is that the author presents some pretty in-depth formulas for valuing a property and determining its suitability as an investment. From my own experience, these formulas are way more in-depth than those I used for selecting my properties. On some of those deals, I wish I had used the author`s formulas.

In my opinion, this book is required reading for anyone interested in residential real estate investing. The key would be to read this book BEFORE jumping in head first.

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Book Review – Retire Rich From Real Estate