by John W. Schaub
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Product Description
Strategies for creating real estate wealth by star ting small--and always making the right moves Nationally known real estate expert John Schaub learned his craft in the best way possible--on the job, and through every kind of market. Over three decades, he learned to bank consistent profits as he built an impressive real estate mini-empire. Building Wealth One House at a Time reveals how virtually anyone can accumulate one million dollars worth of houses debtfree and earn a steady cash flow for life. Unique in that it focuses on buying houses in good-quality neighborhoods, Schaub's nine-step program includes: - Renting to long-term tenants, with financial incentives to pay on time
- Avoiding the temptation of bigger deals, which invariably include bigger problems
- A 10-year plan to pay off debt and own houses free and clear
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Average Customer Review:
1 of 1 people found the following review helpful:
 Common Sense Approach to Building Equity, 2008-02-13
Schaub provides a common sense approach to building equity over time via long-term ownership of single-family homes. Purchase one or more homes per year at 90% or less of market value, place 10% or less of the purchase price down and pay no more than a 10% interest rate. If you then hold those homes until they double in value, you may be on your way to generating over $1 million in equity in less than 10 years. Apply the "Rule of 72" (72/projected property appreciation rate per year)to project the holding period necessary for the home to double in value.
Unfortunately, Schaub does not advocate that a property should produce a positive cash flow, instead assuming that an investment home will appreciate 5% per year year in and year out. Such appreciation may or may not occur. What happens if you purchase a house that merely breaks even (rental revenues cover operating expenses, capital improvements and mortgage payments) but the house declines in value due to a falling local real estate market? This is currently the case throughout Florida, Nevada, Arizona, California, etc.
Some of the non-investment advice is rather basic (i.e., don't quit your day job until you have an emergency cash reserve), but the book provides a feasible road map to generating wealth via single-family real estate investments.
1 of 1 people found the following review helpful:
 Great book, 2008-02-08
This book is especially great for a beginner. It made concepts that I have read about in other books much clearer. If you are thinking about investing in real estate, this book will help you. If you have read other books and want to gain a better understanding, or have things simplified for you,this book will help you.
2 of 2 people found the following review helpful:
Great Value, 2007-09-11
This is just great basic but very valuable information, and a keeper for a long term reference for anyone investing in houses. I've been a student of John's (and also Peter Fortunato, who has also commented here), for years and always continue to learn from his good quality advise.
I've bought several and give them away to folks that ask about how to invest in real estate and has been a great start for several and a good reference for experienced investors that often find themselves venturing into high risk, marginal properties instead of staying with a good old house.
2 of 2 people found the following review helpful:
Building Wealth One House at a Time Describes the Big Picture, 2007-07-31
This is one of the outstanding real estates investment books on the market. John Schuab writes as one who has years of experience and knows the ropes.
The advice in this book is rock solid: buy good houses in good neighborhoods, learn to buy at wholesale prices, and attract long-term low-maintenance tenants who will pay off your loans and improve your property value.
One thing I really like about this book is that John Schuab sees the big picture. He may act in the short-term, but he always has a view of the long-term consequences. So, he doesn't' buy a house because it is priced well, or near a school or a shopping mall. He's thinking 20-30 years ahead to what that house's value and rental desirability will be way down the line.
You have to admire that kind of thinking. That's the kind of thinking that invests in houses that will pay big dividends. Good investments and patience pay off in John Schuab's world. Patience is more than a virtue with John Schuab, it's a commandment. The guy still has the first house that he bought 30 years ago, and its one of his best rentals.
Lincoln said, "I will study and get ready, and perhaps my chance will come." "Building Wealth One House at a Time" is one book worth studying.
Terry Sprouse -- author of the book "Fix 'em Up, Rent 'em Out: How to Start Your Own House Fix-up and Rental Business in Your Spare Time"
2 of 2 people found the following review helpful:
Great Read for All RE Investors, 2007-07-24
John Schaub's book is a must read for all Real Estate Invesotrs. From the beginner to the experienced investor, all will gain some very useful insight from this book.
It is not a get rich quick book hyping up Real Estate, but rather a very
low no nonsense way to wealth build through Real Estate one house at a time. John Schaub is not just a promoter, he still buys and sells houses for his own portfolio today.
It's great to learn from such a pro. He also does a couple of seminars a year on Real Estate. They are also a must for any one wanting to get into the Business (I've been to several of them-they are great!).
Bottom line-Great Book, a must read.
Reggie Lal, Be The Smart Investor . com
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