Reviewed by Kathryn Dalglish on behalf of Landlords Bookstore
Anyone who has read Kieran Trass's book about the Property Cycle in New Zealand will find this book interesting. Ed Ross examines the property cycle in America from his own perspective, and gives advice and cautionary tales about the pitfalls of ignoring the cycle's change until too late.
A recession is full of opportunities for investors who have cash for the deposit on one or more houses. During a recession the banks will not give 100% loans, and often properties will become worth less than their mortgages unless investors can increase their equity in the remaining properties by using cash freed up from sales or from savings.
Based in his experience, Ross has developed a system to take advantage of the property cycle. This consists of accumulating cash before the end of a boom, waiting until recessionary opportunities appear from forced sellers, then acquiring property until the upturn. The boom years are used for upgrading and employing various property trading techniques for cash flow, and finally, the least desirable houses are sold one or two years before the boom ends, to free up cash ready for the following deceleration.
Ross's plan for earning a million dollars per year after five years is well worth reading, and altogether, this book is interesting and informative. Add it to your list of books to read, especially if you are looking for a strategy to take advantage of the current housing market.
Forecasting for Real Estate Wealth $38.95+p&p is available through the Landlords Bookstore www.goodreturns.co.nz/books or call 0800 345 675
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