2007-09-17 21:26:21 · 4 answers · asked by LaPalma 2 in Business & Finance ➔ Renting & Real Estate
The basic principles are sound. Putting them into practice, well, that's a bit different.
If someone is trying to escape an alligator, they will often be willing to sell at a bargain. If you can turn the situation around, you can make some money. If you can't, you'll soon be trying to escape that alligator and you will be willing to sell it for even less.
If you head for the public library, you can find a LOT of books by other authors on the same topic. Have they read Allen? You can bet most of them have. Are they better at explaining it than Allen is? Individually, perhaps not; but if you study ten of them, you think there's anything Allen can still teach you?
Just remember: you make expensive mistakes until you get experience, and you get experience by making expensive mistakes.
So buy the cheapest house on the block. Buy a house that is cosmetically ugly, but fundamentally sound, because that's the greatest bargain. Fix up the house quickly because mortgage payments will eat you alive. Remember that nobody will pay more for your house than what the rest of the neighborhood is worth. Find a tenant who wants to buy, but doesn't have a down payment. Charge him too much for rent, with a lease/purchase agreement that says after 5 years, the rent he's paid becomes his down payment towards purchase of the house at a fairly high price. He'll take good care of the property, because he thinks of it as *his* house, and if he decides to move to Minneapolis after three years, you have had a very good tenant at a very high rent. Otherwise, you have saved 7% on a realtor, and you've sold the property at a favorable price.
2007-09-17 21:50:09 · answer #1 · answered by Anonymous · 1⤊ 0⤋
It makes a ton of money for Robert Allen -- selling his "plan" to rubes all over the country. If it really was such a great money-maker, he'd keep it to himself and make a hell of a lot more than he does flogging his scam.
2007-09-17 21:32:17 · answer #2 · answered by Bostonian In MO 7 · 3⤊ 0⤋
Bostonianinmo has is dead on. Most people selling "solutions" are making the money selling the solution ... not implementing it.
2007-09-18 01:35:10 · answer #3 · answered by CPA/PFS 2 · 3⤊ 0⤋
It REALLY makes HIM money.
2007-09-18 01:59:32 · answer #4 · answered by Roland'sMommy 6 · 2⤊ 0⤋