(Note: Since there have been folks who have asked my recommendations on business and finance books to read, I’ve decided to go ahead and start a new series of posts – book reviews.)
“Start with your why. Design what you want your typical day to look like, and then make every investing decision with that in mind. Take action, surround yourself with great support, and change your goals as you grow and evolve.”
— Julie Broad
Today, I’d like to share with you a special real estate investing book that was just released called More Than Cashflow: The Real Risks and Rewards of Profitable Real Estate Investing by Julie Broad.
Julie is a longtime real estate investor and blogger that somehow found me through my blogging pals. She has been blogging about her real estate investing journey even before I have and has been an inspiration to me as a blogger and writer. As an authority figure on real estate investing in Canada, Julie took an interest in my blog and the subject of mobile home investing during the early days.
(Note: Her interest definitely surprised me as most real estate investors, especially the more “experienced” ones, tend to look down on mobile home investing. Ask anyone who’s ever been to a real estate investing club meeting!)
Over the years, I’ve worked with Julie on several occasions writing article pieces and helping her coaching students. What I’ve found is that we both have similar philosophies when it comes to real estate investing. So when I picked up her new book, it came to no surprise how much I could relate.
This is not an ordinary real estate investing book. It does not paint a rosy picture of how easy real estate investing can be. Nor does it tell you how easy it is to make money in real estate investing. What it does is give you a realistic viewpoint of what it’s really like to be a real estate investor based on Julie’s firsthand experience. And let me tell you, it’s not all sunshine and roses.
From the very beginning, Julie reiterates the importance of aligning your real estate investing goals with the kind of life you want to live. Many do just the opposite by chasing deals and following instructions from courses and books.
Julie did the same thing and found her life to be filled with stress, chaos, and exhaustion. Her stories show you exactly what can happen when you follow the wrong advice and do what others want for you instead of doing what you want for yourself. This is not a subject to be taken lightly.
(Note: Reading about Julie’s progression starting with multi-family to single family real estate investing was quite interesting. It kind of reminded me when folks bring up the topic on mobile home investing vs mobile home park investing. Sometimes you just don’t know what you’re geting yourself into until you’re in it!)
With every statement she makes, Julie backs it up with stories from her own firsthand experience as a real estate investor. She leaves no stone unturned as she tackles topic after topic about the joys and pitfalls of real estate investing. Her goal is not to discourage but to inform others about the pros and cons of real estate investing. There is a lot of golden nuggets of advice that is not said in the real estate investing space that you can find right here in the book.
(Note: There were many statements she made that I’ve heard so many times from seasoned real estate investors who have learned from their mistakes. Much of what is said is not really talked about in books and courses out there.)
This is not a book only for beginners but for the seasoned as well. While reading the book, there were a lot of “a-ha” type moments for me. Being experienced, I learned a lot of small tips from her stories about what worked and what did not work for her. Plus, she had many other tales that made for some great entertainment. Her method and style of storytelling draws you in making it an intimate read. At times, I found myself turning the page in anticipation of what would be said next.
With over 11 years of real estate investing experience, Julie covers a lot of ground and touches on topics I’ve seen so many real estate investors ask about. I especially found the section on becoming an area expert as well as the chapter on raising money to fund your deals very valuable. To my surprise, I learned the creative financing deals were not the ones that brought her the most peace — it was just the opposite. These deals actually made life more stressful and chaotic.
(Note: For those who have read my book, you’ll know I don’t do much creative financing. Though there are others that do, it does carry its own share of risk.)
At its core, this is a very life changing book. It exposes the truth and dispels the myths about real estate investing based on Julie’s own experience. She opens up your eyes by revealing the stories behind what is said out there versus what is really true. Julie writes from the heart to share with you her experiences so that you don’t make the same mistakes that she did. And, she does it all in a way that makes it completely honest, fun and entertaining.
Her message is simple and that is to align your real estate investing goals with the kind of life you want to live. She begins with the end in mind starting with the “why,” not the “how-to,” to show you there is life at the end of the tunnel. Though, you need to choose your path wisely. And in sharing her stories with you, she hopes you will avoid the pitfalls making life more enjoyable for you.
Whether you are new or experienced, I think there is something to gain from reading this book. Many of the stories and statements are timeless and will be useful in your real estate investing business for many years to come. Definitely check it out!
(Note: For those who are interested, Julie has a special promotion for a limited time to anyone who buys the book. She has assembled a great package of gifts good only for the next few days, grab a copy today!)
I hope you enjoyed reading this book review. With the high amount of requests for my opinions on these, it’s something that I’ve decided to start doing from time to time.
p.s. Feel free to leave comments on any post either here and/or my Facebook Page. Comments are always welcome, thanks for reading!
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Interested in learning more about mobile home investing? Be sure to check out my book, thanks for reading!