Real Estate Debt Can Make You Rich: What You Owe Today Is What You Will Be Worth Tomorrow

Having seen Steve Dexter speak at our Real Estate Club meeting, I liked the information he shared with us. In the book he adds to the knowledge I already have gained in real estate for the last 22 years. It's never too late to keep on learning. His information will help my clients best of all.

While perhaps aimed at newer investors, this book also provides useful information for experienced investors. I particularly liked the section describing "rate sheets". Rate sheets are what lenders, like the author, use to set the interest rate that borrowers receive for their home loans. The more risk factors that a borrower has, the more points they have to pay, and ultimately the higher the interest rate. The author has a table with a column of all the risk factors that are considered, and a column of the points each risk factor will cost you. A few examples: credit score below 620% = 0.5 points non-owner occupied with 75-80% down = 2.0 points loan amount loan amount manufactured home = 0.5 points. The whole process is explained in a very understandable way. The author writes in a way that is very accessible to the reader. He allows the reader to understand the process behind a loan, and describes how to improve one's chances of getting the best loan for his needs. I liked his advice to hold free and clear properties, and for rapidly paying down loans with appreciated equity and not after-tax income. The author provides a long list of useful web addresses in the Appendix that I found quite helpful. This is a book well worth reading.

This book explains how to select what type of mortgages you may want for investing in real estate based on your situation. It gives pros and cons of each type of mortgages such as stated income and no documemtation programs. Also it suggests how to use different types of mortgages according to the type of investment strategy you plan. This book is a must read for new investors who want to know about mortgages tailored for investors of real estate.

Got good overview on whatch outs and not to do things in investment. Eye opener. first part tied in to what I was doing, which I thought was wrong. But what was more imoprtant, was the way I was figuring out what to do next. Lots of good information and explanations, specially for me, a begining investor.

I have taken two all day classes from Steve. He is highly experienced as a borrower and lender of money, an investor in real estate and a property manager. He came across to this highly skeptical guy (me) as a person of integrity. I highly recommend him to all my friends. I will use him when searching for a loan. I am ordering this book.