Dolf de Roos - Real Estate Riches: How to Become Rich Using Your Bankers Money

Contents

Copyright 2005 by Dolf de Roos, Ph.D. All rights reserved.

Published by John Wiley & Sons, Inc., Hoboken, New Jersey.

Published simultaneously in Canada.

No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, scanning, or otherwise, except as permitted under Section 107 or 108 of the 1976 United States Copyright Act, without either the prior written permission of the Publisher, or authorization through payment of the appropriate per-copy fee to the Copyright Clearance Center, Inc., 222 Rosewood Drive, Danvers, MA 01923, (978) 750-8400, fax (978) 646-8600, or on the web at www.copyright.com . Requests to the Publisher for permission should be addressed to the Permissions Department, John Wiley & Sons, Inc., 111 River Street, Hoboken, NJ 07030, (201) 748-6011, fax (201) 748-6008.

Limit of Liability/Disclaimer of Warranty: While the publisher and author have used their best efforts in preparing this book, they make no representations or warranties with respect to the accuracy or completeness of the contents of this book and specifically disclaim any implied warranties of merchantability or fitness for a particular purpose. No warranty may be created or extended by sales representatives or written sales materials. The advice and strategies contained herein may not be suitable for your situation. The publisher is not engaged in rendering professional services, and you should consult with a professional where appropriate. Neither the publisher nor author shall be liable for any loss of profit or any other commercial damages, including but not limited to special, incidental, consequential, or other damages.

For general information on our other products and services please contact our Customer Care Department within the United States at (800) 762-2974, outside the United States at (317) 572-3993 or fax (317) 572-4002.

Wiley also publishes its books in a variety of electronic formats. Some content that appears in print may not be available in electronic books. For more information about Wiley products, visit our web site at www.wiley.com .

Library of Congress Cataloging-in-Publication Data:

De Roos, Dolf.

Real estate riches : how to become rich using your bankers money / Dolf de Roos.[New ed.]

p. cm.

Originally published: New York : Warner Books, 2001.

Includes index.

ISBN 0-471-71180-2 (pbk. : alk. paper)

1. Real estate investment. 2. Real estate investmentFinance. 3. Mortgage loans. I. Title.

HD1382.5.D47 2004

332.6324dc22

2004058398

Foreword

Baseball has blessed me with a sensational career and an avenue to reap rich financial rewards. However, the hard work does not stop in the baseball diamond, nor does it end with the paychecks. I am acutely aware that many professional athletes are paid well for their talents but, sadly, are victims of poor financial planning.

When I landed my well-publicized 10-year, $252 million contract, I set about finding an investment vehicle that would ensure my financial fitness long after baseball. I read many books on wealth, entrepreneurship, and investing, as well as biographies of successful individuals, but nothing inspired or captivated me as much as Real Estate Riches by Dolf de Roos. Dolf makes real estate investing simple and accessible to anyone who has the will to succeed. He is an All Star in his field!

On my journey to verify the opportunities available in real estate, I met with Joanne Mitchell, a good friend and local real estate advisor who owns and operates several thousand apartments in Miami. She immediately recognized the copy of Real Estate Riches under my arm and consequently pulled her copy out from her desk. Her book had been highlighted, and notes had been scribbled in the marginsit had been an inspiration to her as well. This book holds powerful recipes for prosperity.

I had to meet this wizard of real estate called Dolf de Roos. After great effort due to scheduling conflicts, we met in Dallas. To his surprise I was a baseball player and not a basketball player, and to my surprise he was accessible and eager to teach a newcomer his strategies. Clearly whether you are on the baseball field or a field slated for real estate investing, life is a numbers game. Some days you score big, and others, well... you dont; but if you practice hard, learn from your mistakes, stay focused, and above all have passion, then the numbers start to work in your favor and your success fuels even more success.

I credit Real Estate Riches and Dolf de Roos as valuable guides that helped give me the confidence to form Newport Property Ventures. I began by investing in a small duplex in an emerging area of South Florida, which led to the acquisition of several other income-producing properties. With hard work and determination my projects and portfolio continue to grow with phenomenal returns. Dolfs principles are working strong!

That Dolf has passion is apparent from the first few pages of this book. This passion and enthusiasm for his game is even more apparent when you meet him in person. Recently we met in New York where we once again reviewed the principles that lead to great success in a newfound sport from which I will never have to retire!

Alex Rodriguez, #13

M.L.B. American League MVP

Founder and CEO, Newport Property Ventures

August 2004

Praise for Real Estate Riches

I have always been interested in property but have never had the courage to admit to myself that property is in fact a passion of mine and not just an interest. Your book, Real Estate Riches , has helped me make that final leap and as a result I have decided to pursue my passion and restructure my life to make more time for real estate investment.

Paul Dinis, South Africa

I read your book, Real Estate Riches , and I loved it. Thanks for breaking things down in such a simple fashion. I am now looking to get into real estate investing.

Mike Desroches, New York

I just closed my first Las Vegas property last week and want to thank you for pointing me in the right direction and giving me the tools to begin my investing. I feel like I have begun building my real estate dynasty! I am very happy; thank you so much!!!!!!!!

Pamela, California

Thank you so much for the great book Real Estate Riches.

Moshe Mizrachi, California

I have read Dr. Dolf de Roos book titled Real Estate Riches. Two weeks ago I bought my first rental flat, then a week later my first rental building (six flats). Its magic to create wealth out of thin air. Thank you for your inspiring books.

L.C., France

I bought your book Real Estate Riches and your course Property Investors School and used the information to buy a $1.2 million commercial building. Thanks for all of the great information. I couldnt have done the deal without the information I learned from you. I used your advice to do the deal and immediately raised the building value by $160,000.

Sam Beckford, Vancouver, Canada

I have just finished reading your book Real Estate Riches. The information was helpful and encouraging. Thanks for your willingness to share your experiences.

Along with my partner (older sister) I am a novice investor. Six months ago, we purchased our first property, a six-unit commercial building. Last week, we made an offer on a second commercial property. So far, it is exciting work. I hope that the excitement and profits continue!