Audible Audio Edition
Listening Length: 2 hours and 53 minutes
Program Type: Audiobook
Version: Unabridged
Publisher: Efficient Alpha
Audible.com Release Date: February 11, 2016
Language: English
ASIN: B01BMWBRF6
Best Sellers Rank: #2 in Books > Business & Money > Small Business & Entrepreneurship > Franchises #12 in Books > Business & Money > Finance > Wealth Management #816 in Books > Audible Audiobooks > Business & Investing
In the interest of full disclosure, this book came to my attention because the author offered to exchange reviews on a promo day. The description was sufficiently interesting that I didn't wait, but immediately bought a copy at the regular price. I was not disappointed. The book is exactly what it says it is. It quickly surveys 4 or 5 areas giving you the lowdown including *realistic* expectations for the amount of work and what you might really make, and identifies particular problems you may have. It is an easy read, and most people will find the instructions and supplementary resources enough to get started. Of course once you pick the area you want to pursue you may want to research more detailed information.The first area is real estate, which I am not familiar with personally but I have several friends and family relations that invest in real estate. The advice and problems and rates of return after expenses, tenant problems, and so forth, seem to be accurately described. Hogue advises, don't buy a property (if it is residential) in a neighborhood you wouldn't be willing to live in yourself. If things go bad, you might have to. This kind of simple and compelling advice is present throughout the book.Hogue's professional background is as a securities market analyst, not a real estate person. But there is one curious thing he did I'd like him to explain further in a future edition. He got out of real estate in 2006 and got back in during 2009. That seems like a bit of miraculous market timing. How the heck did he know to do that, I want to know? This is the kind of thing you might not realize if you were getting into a new area yourself. For example, a friend of mine said she wanted to start "flipping houses" in early 2008.
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