Top positive review
Education, Education, Education...
22 December 2013
This is a well written and provides a broad base of understanding concerning tax, finance and legalities of residential investment. A broad and working knowledge of the various financial structures (unit trusts, family trusts, companies, personal investors, to name a few) is provided. Practical pros and cons plus learned directions are conveyed throughout. The book leads into, and provides, a foundation for seeking effective tax strategies. There is a good introduction to the basic legalities too, including some contractual tips, experience, and pitfalls to watch out for. You will come away with a broad working knowledge of the fundamentals. It took 2 full days to read thoroughly and once finished you realise the more you know the less you know. Just as the book indicates throughout; this area of investment requires education, education and more education. The need to surround yourself with experts and the key reasons to do so become apparent. After becoming comfortable with the idea of large amounts of good debt (read Michael's other book and this one) you now must assess the shear effort and expertise involved in establishing the structures and financial practices of a successful residential real estate investment business. It can be likened to a university textbook where the fundamentals are given and further learning is required in many (if not all) areas - yet unlike a university textbook much valuable practical experience is shared.