Tuesday, December 29, 2015

The Incredible Secret Money Machine


A reader of this website recommended a book to me I had never heard of before.

THE INCREDIBLE SECRET MONEY MACHINE by author Don Lancaster.

I got a copy, I read it, and I loved it.

I was going to write a detailed review of the book but someone already had.  Great synopsis.

Originally written in 1978, the book details what today is called a "side hustle" or making money on the side other than a full time job and investing the proceeds in other income producing assets like real estate.

This strategy was the quintessential "get rich SLOWLY" approach of real estate gurus in the 1970s and 1980s.  Build income, build cash savings, and then buy properties for long term gains and pyramiding opportunities.


Another great example of this approach is Dave Del Dotto's still exceptional book, HOW TO MAKE NOTHING BUT MONEY from 1989.

I highly recommend both these books above for people who want to invest in real estate the smart, efficient, safe, ethical, and responsible way.

1.  Build cash flow through side hustles other than your full time job
2.  Save your money
3.  Buy bargain priced real estate
4.  Improve what you buy to build equity
5.  Hold, refinance, or sell for profits

The real estate gurus of today teach little more than disguised foreclosure rescue fraud.

AVOID THEM.  Go with the classics.

Thanks for the book recommendation.  KEEP THEM COMING!

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