WHAT INVESTORS ARE SAYING ABOUT The Millionaire Real Estate Investor “The Millionaire Real Estate Investor finally brings a book to the real estate investing market that’s been missing . . . A real model for success that works in the real world and not just in the bookstore.” Tony E. Holloway Winston-Salem, NC “Gary Keller has captured the essence of the successful real estate investor. If you have the desire and you apply the lessons of The Millionaire Real Estate Investor, wealth and success are sure to follow.” Dyches Boddiford Marietta, GA “Fear keeps so many aspiring investors from taking that first step.This book turns that fear into the confidence they need to begin building their financial future.” Pat Puckridge Asheville, NC “I was honored to be asked to participate and to share my ideas on how to build wealth through real estate investing but was skeptical that the experience of 120 diverse investors from all parts of the country could be consolidated and put into text. Gary and Dave have done an exceptional job of pulling it all together. The Millionaire Real Estate Investor is a concise, easily understandable, very engag- ing, condensed version of the combined experience of us all.I read it cover to cover at the first sitting! It’s a must for real estate investors, at any level. Great for the novice investor and required reading for everyone thinking about building a real estate portfolio. The systems in the book will work for anyone. I only wish I had had it 25 years ago. It could have saved me 10 years of trial and error and gotten me off to a head start in building my portfolio.” George Castleberry Austin, TX “Wow! First The Millionaire Real Estate Agent. Now The Millionaire Real Estate Investor!We are blessed to be in a world where the small price of a book can yield millions in return. And all you have to do is to read and then do! I can’t thank Gary and his team enough for the excellent research and insight.” Rick Geha Freemont, CA “This is the greatest investment book I’ve found. It makes investing incredibly easy.” Cathy Manchester Norway, ME “Years back I cleared $83,000 profit in nine months using $5,000 borrowed on a visa. It never occurred to me to do it over and over and over again. Thanks for turning the lights on! The Millionaire Real Estate Investor is definitely going to become one of those books that people enjoy reading and re-reading.” Alex Delgado Nashville, TN “The Millionaire Real Estate Investor is a six-lane highway, complete with navi- gational aids, to get you to financial wealth. Read it and reap the benefits.” Mike Tavener Asheville, NC “As a part-time real estate investor with a full-time career, I certainly found that The Millionaire Real Estate Investor spoke to those who have a career and may hesitate to take those first steps toward financial freedom through real estate.This book amaz- ingly captures the best knowledge of years of investing experience and creates a solid plan that will inspire the beginner as well as the seasoned real estate investor.” Renata Circeo Atlanta, GA “The Millionaire Real Estate Investorgathers all of the information into one book and provides a proven path to real estate investing success and wealth.” Dennis Nevius Edmond, OK “We have been investing in real estate for years and currently have 22 properties. After reading this book, we are looking forward to purchasing many more. This book has made us confident that our investments will put our six children through college and help us retire early, so we can travel the world!” Joe and Loree Rozanski Naperville, IL “The Millionaire Real Estate Investor gives investors a road map to greater success based on their personal financial goals. It’s a must-read for the attentive investor.” Mike Brodie Plano, TX “The Millionaire Real Estate Investor will awaken the sleeping giant in us all, with purpose, systems, and proven models led by confidence.The possibilities are endless. This truly is ‘The Blueprint’ for the future of residential investors.” Bobby and Janet Faulk Lake Norman, NC “What a realistic way to identify, analyze and purchase investment property to become independently wealthy. The sky’s the limit with these proven models and systems.” Gene Arant Austin, TX “The Millionaire Real Estate Investor is absolutely ideal for investors. I’ve been helping people build and manage their wealth through buying real estate for years and this book will help me serve my network of investors even better! Thanks, Gary.” Chris D. Hake Madison, WI “This book provides the most direct and easy-to-understand platform from which to take my investment portfolio to its next level.” W. Darrow Fiedler Los Angeles, CA “Thanks, Gary, Dave, and Jay, for the opportunity to participate in the research for The Millionaire Real Estate Investor. I look forward to sharing it with like- minded people!” Pat LaMonica Charlotte, NC “An excellent, comprehensive, common sense primer on real estate investing.” Joe Arlt Virginia Beach, VA This page intentionally left blank. THE MILLIONAIRE RealE state Investor Anyone can do it— not everyone will Gary Keller with Dave Jenks and Jay Papasan McGraw-Hill New York Chicago San Francisco Lisbon London Madrid Mexico City Milan New Delhi San Juan Seoul Singapore Sydney Toronto Copyright © 2005 by Keller Williams® Realty, International. All rights reserved. Manufactured in the United States of America. Except as permitted under the United States Copyright Act of 1976, no part of this publication may be reproduced or distributed in any form or by any means, or stored in a database or retrieval system, without the prior written permission of the publisher. 0-07-146953-2(cid:13)(cid:10) The material in this eBook also appears in the print version of this title: 0-07-144637-0. All trademarks are trademarks of their respective owners. Rather than put a trademark symbol after every occurrence of a trademarked name, we use names in an editorial fashion only, and to the benefit of the trademark owner, with no intention of infringement of the trademark. Where such designations appear in this book, they have been printed with initial caps. McGraw-Hill eBooks are available at special quantity discounts to use as premiums and sales promotions, or for use in corporate training programs. For more information, please contact George Hoare, Special Sales, at [email protected] or (212) 904-4069. TERMS OF USE This is a copyrighted work and The McGraw-Hill Companies, Inc. (“McGraw-Hill”) and its licensors reserve all rights in and to the work. Use of this work is subject to these terms. Except as permitted under the Copyright Act of 1976 and the right to store and retrieve one copy of the work, you may not decompile, disassemble, reverse engineer, reproduce, modify, create derivative works based upon, transmit, distribute, disseminate, sell, publish or sublicense the work or any part of it without McGraw-Hill’s prior consent. You may use the work for your own noncommercial and personal use; any other use of the work is strictly prohibited. Your right to use the work may be terminated if you fail to comply with these terms. THE WORK IS PROVIDED “AS IS.” McGRAW-HILL AND ITS LICENSORS MAKE NO GUARANTEES OR WARRANTIES AS TO THE ACCURACY, ADEQUACY OR COMPLETENESS OF OR RESULTS TO BE OBTAINED FROM USING THE WORK, INCLUDING ANY INFORMATION THAT CAN BE ACCESSED THROUGH THE WORK VIA HYPERLINK OR OTHERWISE, AND EXPRESSLY DISCLAIM ANY WARRANTY, EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED TO IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. McGraw-Hill and its licensors do not warrant or guarantee that the functions contained in the work will meet your requirements or that its operation will be uninterrupted or error free. Neither McGraw-Hill nor its licensors shall be liable to you or anyone else for any inaccuracy, error or omission, regardless of cause, in the work or for any damages resulting therefrom. McGraw-Hill has no responsibility for the content of any information accessed through the work. Under no circumstances shall McGraw-Hill and/or its licensors be liable for any indirect, incidental, special, punitive, consequential or similar damages that result from the use of or inability to use the work, even if any of them has been advised of the possibility of such damages. This limitation of liability shall apply to any claim or cause whatsoever whether such claim or cause arises in contract, tort or otherwise. DOI: 10.1036/0071469532(cid:13)(cid:10) ������������ Want to learn more? We hope you enjoy this McGraw-Hill eBook! If you’d like more information about this book, its author, or related books and websites, please click here. Financial Wealth ( ) n. The unearned income to finance your life mission without having to work. The Millionaire Real Estate Investor is dedicated to the men and women who have a passion for their work and yet dream of someday achieving financial independence, of someday being able to finance their mission in life without having to work. It’s dedicated to all those who want the biggest life possible, who are actively seeking ways to finance that vision, who want to go as far as possible with as few roadblocks as possible, and who want to say at the end of the day, “I’m glad I did” instead of “I wish I had.” This page intentionally left blank.