The main point is de Roos shows a value growing $250,000 $4,000 = 62.5 times in his example, whereas various real world stats indicate values growing only around 6 times during that period. This is a specific example of how he makes it sound far easier—ten times easier in this example—than it really is to make money in real estate.debt on appreciating property is a good thing p. 109Actually, what he is trying to say is that fixed-rate debt on assets that go up in value is good. If both the payments and the value go up, you are not making progress. In fact, it’s more complicated than that. If, as is almost always the case, the debt payments on your new acquisition exceed your property’s net operating income, you will have negative cash flow. In order for you to come out ahead in the long run: 1. the appreciation must be great enough to more than compensate for the negative cash flow and 2. you must have the cash reserves to pay the negative cash flow for years so you will be around for the long run to reap whatever appreciation benefits there might be.says plumbers and such will always work on your job first if you pay their bills the day you receive them. claims this is a “foolproof method” p. 120In my experience, subcontractors expect to be paid when they complete the job—before they leave your property. Merely paying them when their bill arrives would actually be slow. Paying them upon completion would be normal. There is no way to make yourself a favorite of contractors other than paying big tips, but that would diminish or eliminate your profits. Read this passage from de Roos’ book to your next subcontractor and see if he agrees with it. I predict they will laugh at de Roos’ claims.says to use property managers p. 124It is almost universal for mass-market gurus to recommend property managers. I suspect this is because it enables them to overcome the objection, “I don’t want to get calls about stopped-up toilets at 3 AM.” A guru frequently cannot sell his real estate investment information until he convinces the prospect that he will not have to manage the property he buys.In reality, property managers almost universally neglect properties and take kickbacks from suppliers and subcontractors who overcharge the client in order to cover the kickbacks.
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