OnlyCritiques.com Review:

In 1959, Bill Nickerson wrote the real estate masterwork How I Turned $1,000 into Five Million in Real Estate in My Spare Time.  His other books include How to Make a Fortune Today Starting from Scratch and Nickerson's No-Risk Way to Real Estate Fortunes.

Bill Nickerson’s Method of real estate investment is practical and simple. Today the term Nickersoning has taken a generic meaning. For a beginner, the book is a good guide. Bill Nickerson describes a conventional but common sense approach to earning wealth through real estate investment. It explains in simple language methods to leverage current assets into more valuable ones. He stresses on the need for hard work and sincerity to be successful in the real estate business.

Bill Nickerson has based his investment strategy on three basic principles. The first is to earn profits in real estate. Hence, one should buy properties for selling them profitably. He suggests one should purchase a rundown property, renovate it and then sell or exchange it for a better property. In this way, one can earn a high return on equity by churning the investment portfolio and simultaneously increase the equity on which to earn higher profits.

Second, Bill Nickerson advises patience and caution. He counsels against excessive advantage and recommends a savings plan to save for the first down payment. He believes in fiscal discipline and warns against the unethical nature of the real estate business. He cautions against taking more debt than one can repay.

Lastly, the book contains some good real life examples. He does not dress up properties or exhibit sellers as ignorant people who are willing to sell their property to a novice without credit or experience. He warns against unscrupulous brokers and highlights other ills of the business. Thus, Bill Nickerson’s book is as relevant today as it was forty years ago.

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