Hi all. Just wondering if anyone here has purchased the book written by Scott McGillivray and Michael Sarracini titled "Cash Flow For Life"? I am thinking about getting into real estate investing and thought this would be a great place to start. The book is at http://www.lifetimewealthacademy.com for anyone interested.
Fonz, I checked out Scott's website several months ago and briefly looked at this program. It's part of that Donald Trump weekend seminar scam. IMHO, it's more about separating you from your **$ than helping you -
Personally, I'm disappointed that Scott would be associated with it. Although he's a reality tv host, it appears he does a reasonably good job analyzing properties and financially qualifying the show participants prior to shooting an episode and completing the reno.
Have you considered any RE classes at your local junior college? Or, auditing a course at a regular university? The jc's usually offer a series of courses to prep for the RE exam. They might also offer 1 overall course that would serve your purpose.
In addition, it's probably less expensive, by far, and hopefully, would allow you to learn basic principles over a semester instead of the rushed weekend format. Besides that, a local course might help you network to meet a few valuable, local contacts. Do you have a financial background?
Anybody on the boards taken Scott's program? (If so, Fonz, they may have a different opinion.) I was simply concerned to see that Scott had joined that group. BTW, it's much harder IRL than it looks on HGTV or the other glitzy, faux-reality, programs.
If you'd like to PM me, feel free. ETA: I apologize, if I didn't exactly answer your question regarding the book. Haven't looked at the book but it's part of the seminar program. Therefore, IMHO, it's suspect.
Good Luck!This message has been edited. Last edited by: RErocker,
Youre profit can not be earned from just reading a book...books would be their profit.
Takes some real estate courses at a local community college..smartest move.
This program is done in Canada, and the houses there lend themselves to become income properties.
They all have full basements, and they are in the middle of either downtown or very centrally located.
That type of property, is rare in the US. You may find it in Boston, New York, DC but in general, but availability is really not there at least that I have seen in other States.
You may find small apartment homes with four units, that you can renovate and then rent, but converting basements like he usually has, I really don't think that you are going to see them in many States.
You're definitely correct WRT the availability of suitable residential, shared income properties in the U.S. In addition, local zoning laws often disallow multiple family properties.
OTOH, IIRC, Scott's book offers general real estate investing information. (BTW, I only quickly skimmed the information on the website, so I may be incorrect.)
I would still recommend, however, jc college classes instead of Scott's expensive weekend seminar and general materials. Hopefully, a class or two would also allow fonz (the OP) to network and develop contacts within his/her local community. After learning at least the basics, real world experience will be invaluable.
Let us know how everything works out, fonz.
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