Robert G Allen's name is synonymous with "financial success". And with his seminars sweeping the nation, he is now more than ever at the cutting edge of strategic wealth creation. In this book, Allen gives you the basic principles that you need to stop thinking poor and start growing rich by developing a wealthy mind set. Moving beyond just real estate, Allen goes straight to the core of people's inner motivations and beliefs about money to give you all the fundamentals of wealth creation. In his trademark, easy-to-understand style, Allen spells out all his practical applications and shows you how to:(1). Take advantage of recent tax laws; (2). Benefit from high-yield discount morgages; (3). Set up corporation and trusts to protect assets; (4). Acquire long-term profits in gold and silver coins; (5). Find the highest rate of return with the greatest liquidity; and (6).Use leverage to multiply holdings whilst minimising risks. Digest this book and you will be able to retire in 10 years.
As a beginner real estate investor, this book is very informatove. Mr Allen starts off with some much needed "fluff" in Parts 1 and 2. It is always a good idea to lay the foundation of your investment philosophy. Part 3 is by far the bread and butter of the book. He still refers to "nothing down" deals and he adds to this formula using the "cookie cutter" method(Ch.6). His tips on locating motivated sellers and developing a formaula to weed out prospective properties is priceless (p90). The book is intriguing until you hit Part 4. Robert's strong point is real estate which is evident from the material in Part 4. His chapters on discounted mortgages, numismatics, lower taxes, financial counseling, etc. does not seem to gel with the 1st 3 parts. This part strays from his own advice which is to stick to one investment and throw yourself into it (p20). The only redeeming chapter in part 4 is protecting your assets using various entities like LLC's or LP's. This is extremely good advice for the beggining investor. Creating Wealth is a very good book and gives good motivation to begin or continue building real estate investments.
Many books on investing try to pump you up, motivate you, but they don't tell you exactly how to make money. But this book, and all of Robert Allen's, tell you how to calculate each possible deal ahead of time as well as why so you can come out ahead; or on the other hand, what would cause you to lose money. That is, his books are specific rather than just vague wild dreams. And what could be more motivating than having the workable techniques in your hands! This is his very best book yet, in my opinion--the actual formulas, the numbers, that he uses himself. It is great. This is that most vtial thing, the arithmetic itself.