Rich Dad Offers Advice on Real Estate Investing

March 26, 2013

Plenty of people are familiar with the Rich Dad Advisors series of audiobooks by Ken McElroy, which are designed to help the average adult build wealth through a number of means, such as managing rental properties, choosing proper tenants, and of course, investing in real estate. It is this last area that is covered in “Rich Dad Advisors: ABCs of Real Estate Investing: The Secrets of Finding Hidden Profits Most Investors Miss”. And while there are certainly plenty of audio books out there purporting to offer similar information, you need only read reviews to discover that this particular offering provides a far more comprehensive compendium of information for the listener looking to make a foray into real estate investing. While others merely proffer so much fluff and generic rhetoric with very little concrete information or strategy, McElroy aims to help listeners take their first steps into the potential profits inherent in the real estate market. And the high praise of your fellow consumers should tell you something about what this updated audio book has to offer.

You’ll be pleasantly surprised by the meatiness of this audio book, as opposed to many competitors which are notably lean on the details. And the process starts with learning how to properly assess properties in order to determine whether or not they’ll make good investments. Now, you should be warned that this isn’t a volume designed for those who are looking to flip houses. This dicey form of investing for those seeking “get rich quick” schemes where real estate is concerned is steadfastly avoided by Rich Dad. McElroy wants to impart the knowledge needed to help you make sound financial decisions, and flipping homes when you’re not an expert definitely doesn’t fall into that category. But if you’re looking to use the assets provided by property purchases for a long-term investing strategy, then you’ve come to the right place.

There’s a lot to love in this audio book if your goal is to hold property. For starters you’ll get the 411 on how to assess potential purchases. This is definitely one of the most difficult things for investors to learn, so you’ll surely appreciate the detail that McElroy lends to the subject. You’ll learn to find properties that offer the most potential and bang for your buck. But Rich Dad will also give you the skills you need to negotiate so that you can get the property you want for a fair price. Overpaying is not the way to become wealthy through real estate, so it’s important to develop the strategies (and the nerve) to negotiate for a price you can live with.

Of course, the process doesn’t end there. Once you’ve signed the paperwork and dispensed with theĀ real estate agents, you’re going to have to manage your properties appropriately if you want them to offer the passive income (rent, lease, etc.) that drove you to purchase them in the first place. Here, too, McElroy delivers with lessons on proven tools for property management. If you want to achieve maximum cash flow from every property you invest in, Rich Dad can give you the knowledge and skills needed to get in at the ideal price point and milk your asset for all its worth.

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