$5 Million In 8 Years: Real Estate Investing on the Side

I've been investing in real estate for some time now. I'm not a big investor, and I go sometimes a year or more without buying anything. This book made me very excited to buy again and I'll try to describe why.Mr. Meng gives tips to success that aren't just the financial details of how to best structure a buy to increase your wealth. He tells you things that all buyers should know that are the behind the scenes view. He mentioned detachment in Chapter 12. That chapter alone is worth more than the price of this book. The ugly truth is that no renter will respect your property like you do. That is why having good renters is very important. If you see your tenants do things that drive you crazy, neglect things or damage things, the experience will kill your spirit. Detachment (at the very minimum, emotionally) is the desensitizing agent that lets you sleep peaceful at night and concentrate on the big picture. I know many first time investors that stop after the first purchase. They sell after a few years. Why? .... they were too attached. And I would add one thing - everything can be fixed, its only money. I also think that Chapter 16 is golden. Courage, resilience and optimism are the ingredients that keep you moving and strategize. Fear is debilitating in real estate. It can prevent us from making foolish moves and understanding our limitations, but if you are confident in your knowledge, then courage and optimism will help you triumph.Thanks to this book I toured a property last night and called my lender today. Many thanks Mr. Meng!

I read the book in one sitting. The author uses his own experience to show us how upper-middle-class can achieve financial freedom by investing in real estate. As a real estate investor with similar experience, I share almost ALL of his views and points. Because he understands the issue so well, he can articulate thoughts and opinions extremely well in plain English. Any upper-middle-class can follow his suggestion to do well. In fact even if you don't have much capital to begin with, you can still use his formula to succeed, only swap "capital" with "skill/resource" that you possess, may it be an analytical skill or sweat equity.Besides financial freedom, the author also talked about freedom of time and freedom of mind. If you read the beginning and the end of the book, you can clearly tell that the author is motivated by love not money. His wisdom, courage and skills enabled him to achieve more freedom so that he can do what he really loves - spending quality time with his family and giving back to the community. All these are built upon financial freedom, which can be achieved if you follow his suggestion by investing in real estate.In summary, this book provided a tried but true road map to financial freedom. I highly recommend this book without any hesitation.

$5M in 8 years, to many this maybe a wishful thinking, for David, it is a living proof, a personal journey of what can be achieved for someone who came from a humble beginning. I highly recommend this book to anyone who wants to retire earlier and reach the financial freedom. It is a book of inspiration, with step by step details of how you can duplicate it. A proven formula for success! Having CPA and audit background, I totally agree with the return calculation. It is a brilliant yet simple concept that is easy to follow with some capital and courage. Thanks David for sharing your success story and inspire many others .

I am a well established real estate professional and investor. I have read many real estate books. This book is among the best that I have read. Its negotiation strategies, and discussions on how to find the best deals, how to build an effective team, and how to control and minimize risk, are all very useful. These are practical and proven and beneficial methods for real estate investors. I also found the real life examples inspiring and helpful. I will recommend this book to my friends and clients. Highly recommend.

I got this book because I have my doubts on the cash flow (15K a year) in the first place. Got the book on Friday night, and finish it Saturday morning. It is well written and it clearly showed the path of the author to achieve financial freedom from the 1st residential rental property at age of 47, to the 2nd, and eventually to at least two commercial buildings. From his story I will learn that we do not have to be handy in real estate business, repair everything by yourself, but we ordinary people can achieve the same, as long as we learn, we practice and be patient. The book is more than just personal experiences (only a few chapters), but all the thoughts about financial freedom, investment ideas, and our relationship with money. Highly recommend it!!!