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Building Wealth One House at a Time: Making it Big on Little Deals

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Strategies for creating real estate wealth by star ting small--and always making the right moves Nationally known real estate expert John Schaub learned his craft in the best way possible--on the job, and through every kind of market. Over three decades, he learned to bank consistent profits as he built an impressive real estate mini-empire. Building Wealth One House a Strategies for creating real estate wealth by star ting small--and always making the right moves Nationally known real estate expert John Schaub learned his craft in the best way possible--on the job, and through every kind of market. Over three decades, he learned to bank consistent profits as he built an impressive real estate mini-empire. Building Wealth One House at a Time reveals how virtually anyone can accumulate one million dollars worth of houses debtfree and earn a steady cash flow for life. Unique in that it focuses on buying houses in good-quality neighborhoods, Schaub's nine-step program includes: Renting to long-term tenants, with financial incentives to pay on time Avoiding the temptation of bigger deals, which invariably include bigger problems A 10-year plan to pay off debt and own houses free and clear (20050129)


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Strategies for creating real estate wealth by star ting small--and always making the right moves Nationally known real estate expert John Schaub learned his craft in the best way possible--on the job, and through every kind of market. Over three decades, he learned to bank consistent profits as he built an impressive real estate mini-empire. Building Wealth One House a Strategies for creating real estate wealth by star ting small--and always making the right moves Nationally known real estate expert John Schaub learned his craft in the best way possible--on the job, and through every kind of market. Over three decades, he learned to bank consistent profits as he built an impressive real estate mini-empire. Building Wealth One House at a Time reveals how virtually anyone can accumulate one million dollars worth of houses debtfree and earn a steady cash flow for life. Unique in that it focuses on buying houses in good-quality neighborhoods, Schaub's nine-step program includes: Renting to long-term tenants, with financial incentives to pay on time Avoiding the temptation of bigger deals, which invariably include bigger problems A 10-year plan to pay off debt and own houses free and clear (20050129)

30 review for Building Wealth One House at a Time: Making it Big on Little Deals

  1. 4 out of 5

    Sashi

    The best book if you are looking to get started on Real Estate Investment. The very introduction impressed me which says "I have helped thousands of others make their first million buying houses. " It starts out by saying why buying houses rather than a commercial property is better. Some of the things that you will learn from the books are - Finding ways to spot best deals - Buying and selling with agents - Selling on lease/Option to generate larger profits - Borrowing without having to go to ban The best book if you are looking to get started on Real Estate Investment. The very introduction impressed me which says "I have helped thousands of others make their first million buying houses. " It starts out by saying why buying houses rather than a commercial property is better. Some of the things that you will learn from the books are - Finding ways to spot best deals - Buying and selling with agents - Selling on lease/Option to generate larger profits - Borrowing without having to go to bank - Getting you house free and clear

  2. 5 out of 5

    Kevin Luo

    One of the first real estate books I have read and this was a re-read. A very solid book for beginners with some very solid principles mixed in with a few complex ideas. As a whole, there are portions that I believe are very fundamentally strong and intuitive for beginners to understand, however there are some complex portions of the book that I still have yet to understand. Schaub's principle focuses on 10/10/10 rule, which breaks down to purchasing a property with 10% down, with less than 10% One of the first real estate books I have read and this was a re-read. A very solid book for beginners with some very solid principles mixed in with a few complex ideas. As a whole, there are portions that I believe are very fundamentally strong and intuitive for beginners to understand, however there are some complex portions of the book that I still have yet to understand. Schaub's principle focuses on 10/10/10 rule, which breaks down to purchasing a property with 10% down, with less than 10% interest, and buy at least 10% under the market. He then recommends the buy-and-hold strategy to purchase one house per year and hold onto them until they double in value. I think the principles are sound when it comes to his philosophy and the length of time allows investors to ride the ebb and flow of various markets. However, I think some of the components of the 10/10/10 rule may be difficult to adhere well to depending on the individual. Sections about tenants and negotiation are strong as well. A final critique point is about the financing and level of this book, as it likely catered towards those who are well-versed in real estate concepts and not for complete beginners. A strong recommendation.

  3. 5 out of 5

    Katie Burkey

    Very comprehensive book for those who have zero previous knowledge of buying investment properties. My husband and I are testing the waters to possibly buy a passive-income property, and I found his advice on dealing with tenants particularly helpful. I definitely have more risk aversion than he does, but trying to buy one home per year with his 10/10/10 plan doesn’t seem too out-there! I really appreciate how he seems to try and give his readers the confidence to go this road alone. I had read Very comprehensive book for those who have zero previous knowledge of buying investment properties. My husband and I are testing the waters to possibly buy a passive-income property, and I found his advice on dealing with tenants particularly helpful. I definitely have more risk aversion than he does, but trying to buy one home per year with his 10/10/10 plan doesn’t seem too out-there! I really appreciate how he seems to try and give his readers the confidence to go this road alone. I had read a book by female CPA who basically said “go ahead and hire an attorney, a CPA, a property manager, a handyman, a realtor” and I’m just like ummmm so I will literally be losing tens of thousands of dollars with this model, cool. Mr. Schaub gives you the tips and tricks to have the confidence to try it on your own.

  4. 5 out of 5

    Patrick

    Basic book as an introduction to buying and selling houses. Has some good checklists and info on finding property, negotiating, managing tenants, etc. It's a good book as an overview of how people make a living buying and selling many houses, even if they don't have a lot of money on hand. Basic book as an introduction to buying and selling houses. Has some good checklists and info on finding property, negotiating, managing tenants, etc. It's a good book as an overview of how people make a living buying and selling many houses, even if they don't have a lot of money on hand.

  5. 5 out of 5

    Alexa

    I don't think I learned anything from this book. Like....anything. And yet I went in knowing basically nothing about real estate investing. There's a lot of very general guidelines, but no real "how-to" in this book. It's made with Americans in mind. Not so handy for a Canadian. This book really isn't that old (I read the updated 2nd edition), but some of the advice seems so incredibly dated. It's akin to your grandfather giving you advice on how to get a job: "Just go in the store and ask the manag I don't think I learned anything from this book. Like....anything. And yet I went in knowing basically nothing about real estate investing. There's a lot of very general guidelines, but no real "how-to" in this book. It's made with Americans in mind. Not so handy for a Canadian. This book really isn't that old (I read the updated 2nd edition), but some of the advice seems so incredibly dated. It's akin to your grandfather giving you advice on how to get a job: "Just go in the store and ask the manager for a job! He'll love your charisma and probably hire you on the spot!" Uh-huh, sure.

  6. 4 out of 5

    Rachel Meyers

    Buy at a deep discount and rent out houses and once they're paid off from the renters payments and have doubled in value, you'll have a million dollars once you sell them. That's the premise anyway. I'm not sure if I'm committed to this strategy and it seems like a lot of work and risk- but it was a well written and researched book. Buy at a deep discount and rent out houses and once they're paid off from the renters payments and have doubled in value, you'll have a million dollars once you sell them. That's the premise anyway. I'm not sure if I'm committed to this strategy and it seems like a lot of work and risk- but it was a well written and researched book.

  7. 4 out of 5

    Mario

    My big gripe with this book is it really didn't detail HOW to do something. It talked about the benefits of certain actions without a gameplan. For example, the author discusses the advantages of owner financing, closing within a week, and knowing how to write contracts. He doesn't detail how to actually do any of that though. As a result, most of the potential value was lost in this book. My big gripe with this book is it really didn't detail HOW to do something. It talked about the benefits of certain actions without a gameplan. For example, the author discusses the advantages of owner financing, closing within a week, and knowing how to write contracts. He doesn't detail how to actually do any of that though. As a result, most of the potential value was lost in this book.

  8. 4 out of 5

    Anuj Tyagi

    Excellent concepts; however, the concepts are more relevant for those countries where the rental yield is high. Positive cash flow in a residential unit in India is only possible if you commit to a huge down payment thereby bringing down your EMI’s

  9. 5 out of 5

    Azat Jumayev

    Thank you for sharing your knowledge with a reader like me!!!! It is well written and practical to apply. Rather than theory, the pages and data provide invaluable information for a little money!!!

  10. 4 out of 5

    Ashleigh Bonner

    This book gave me tons of information and made me feel like I can buy and rent my first property. I can do this, and so can you! Schaub offers hundreds of useful tips from his twenty years of experience, and these tips will save you a bunch of time, money, and effort.

  11. 4 out of 5

    Vince

    As a beginner, this book was very helpful. Has tips and advice from a wide angle and covers many aspects of getting started in real estate. Will definitely be coming back to use as reference

  12. 4 out of 5

    Taylor

    A good book about houses as investments. Really went into more detail than I actually wanted so I skimmed a bunch. This is the book to read when you’re about to actually apply it.

  13. 5 out of 5

    Jonathan Wylie

    Not the strategy I am going to use but I appreciate some of the thoughts.

  14. 5 out of 5

    K Sagolsem

    Fantastic book

  15. 4 out of 5

    Gilberto De Leon

    This book will def be a re-read. I’m a rookie investor that just locked in our first door. This book amongst others guided me with solid and analytical information!!!!!

  16. 4 out of 5

    Josh

    Straight forward and informative read. A simple strategy to buy one house at a time to build wealth is supported by various tactics such as how to find the deals, what makes a good investment, how to negotiate, how to partner, etc. There is no fuss, or anything too complicated. There is no get rich quick gimmick in here. It is definitely a great book to support those getting into real estate investing.

  17. 4 out of 5

    CP (Wayne)

    Overall, this is a great introductory book to the the world of real estate investing. It is perfect for those with zero prior knowledge and wants to learn more about this niche. As someone with little prior knowledge, I definitely learned more than I bargained for with this one book. It reminds me that outside of working, having your own business or even inheriting; there is money to be made through real estate investing. Many people neglect this method by mistakenly believing that only the ultra w Overall, this is a great introductory book to the the world of real estate investing. It is perfect for those with zero prior knowledge and wants to learn more about this niche. As someone with little prior knowledge, I definitely learned more than I bargained for with this one book. It reminds me that outside of working, having your own business or even inheriting; there is money to be made through real estate investing. Many people neglect this method by mistakenly believing that only the ultra wealthy can participate in this game. But this book demonstrates how it is very possible to get started even with little of your own money down. But like any craft it does take time, practice and the right knowledge to become successful. I don’t think one could immediately become a successful investor after reading this book. I see it more as an appetizer that’s helps you decide if this is something you want to further pursue. Some limitations with this book: The majority of the advice and content in this book is geared towards the american market and applies to those interested in the US market. Readers interested in non-american markets may need to look elsewhere for more practical advice. This book was published in 2004. With major growth and advancement in information and technology some of the advice in this book may be too dated to apply in today’s market. Aside from these Limitations: I was impressed how this book highlights many details and nuances to consider in this field such as: Understanding Contracts and Real Estate Laws Tax and Financial Benefits Loans, Financial planning, Financial forecasting, Refinancing Property, Finding good deals, Negotiating deals How to manage Loans, Cash flows, Tenants etc… I also liked how financial information was presented in an easy to read balance sheet form. The forecast information was presented in a way that is very easy to understand even for those with no knowledge of finance and accounting. On a side note, it convinced me that real estate investing is a very smart way to make passive income. With time being a valuable nonrenewable resource, it helps us avoid the concept of trading time for money. If one sets up a successful portfolio and manages it efficiently, they can accumulate millions of dollars worth of assets and earn a steady cash flow for many years to come. For more honest book reviews come to my website (www.firetoinspire.org)!

  18. 5 out of 5

    Jeshua Newman

    My high praise of this writing is based more on how well it addressed specific questions I had about Real Estate Investing, and less on a close analysis of its literary style. That being said, this book is well written, succinct, and written with a beginner in mind. Schaub uses examples throughout the book and the occasional personal story, but for the majority of the text he dispenses with vibrant examples/personal stories and gets straight to the point using well organized topic headings, well My high praise of this writing is based more on how well it addressed specific questions I had about Real Estate Investing, and less on a close analysis of its literary style. That being said, this book is well written, succinct, and written with a beginner in mind. Schaub uses examples throughout the book and the occasional personal story, but for the majority of the text he dispenses with vibrant examples/personal stories and gets straight to the point using well organized topic headings, well organized numbers from actual deals, and no-nonsense information. Throughout the book I personally felt as though the author was answering my questions directly, as though I had emailed him myself. Based on this experience, I feel it is the best choice for a beginner because Schaub writes with a clear style that addresses what he has found to be the most common questions in his 30+ year career. Compared to other works on this topic of investing in real estate, this work is from a HIGHLY conservative perspective. It is important to clarify in this context that I use the word “conservative” to express an overall strategy that emphasizes quality over quantity, buying fewer properties and holding them for long-term, and carrying no more than 50% debt on your assets. What I am not referring to is any political platform, opinion, doctrine, talking point, or other opinion-based perspective. This being clear, I find this book an excellent starting point for ANYONE, because it is on the more fiscally conservative end of Real Estate Investing philosophies, which means after reading this book you will have a point of reference to compare other works that assert slightly more liberal, or debt tolerant, strategies such as Robert Kiyosaki’s writings. Therefore, I highly recommend this work to anyone new to the subject of Real Estate Investing.

  19. 5 out of 5

    Brian Vickery

    Very easy book to read, and I appreciated that it focused on the long term buy-and-hold strategy...and generating the wealth via (1) monthly income through rent and (2) the fact that the rental payments are paying down your loan debt for you. It talks about houses doubling in value in about 14 years (with an average annual return of 5%), so he is definitely not trying to sell you on the "get rich quick via appreciation". If I had felt the book *was* designed to "get rich quick" via appreciation a Very easy book to read, and I appreciated that it focused on the long term buy-and-hold strategy...and generating the wealth via (1) monthly income through rent and (2) the fact that the rental payments are paying down your loan debt for you. It talks about houses doubling in value in about 14 years (with an average annual return of 5%), so he is definitely not trying to sell you on the "get rich quick via appreciation". If I had felt the book *was* designed to "get rich quick" via appreciation and speculation, I would have set it down. I prefer tried-and-true (the author has about 40 years of experience) even if it is a longer time horizon (with less risk) than other investments. The more I've read blogs, reviews, and books like this, I'm developing the attitude of treating the rent payments almost like "matching contributions to the 401k". And I'm willing to rent at below market value to still generate a positive cash flow while keeping long-term renters. I also like how he uses sound judgment (in my opinion), of using cash out refinances to eliminate debt on other rental properties...his goal is to patiently get to "free and clear" on the loan debts while keeping those renters happy and in your properties. And recommending you and your properties to their friends. I'd recommend this book as a great primer with ideas you can apply immediately and repeatedly.

  20. 5 out of 5

    Jesse Mac Dougall

    Video review: https://www.youtube.com/watch?v=eYUVT... instagram: jmacdougca twitter: @jmacdougca snapchat: jmacdougca website: jwmca.com Good book for people brand new to real estate rental game. The book is American written but tactics still apply to Canadians, just not all of them. As a seasoned real estate investor I learned alot from this book. Mostly that what I am doing is working. I picked up a few tips here and there as well. Video review: https://www.youtube.com/watch?v=eYUVT... instagram: jmacdougca twitter: @jmacdougca snapchat: jmacdougca website: jwmca.com Good book for people brand new to real estate rental game. The book is American written but tactics still apply to Canadians, just not all of them. As a seasoned real estate investor I learned alot from this book. Mostly that what I am doing is working. I picked up a few tips here and there as well.

  21. 5 out of 5

    Claudia

    Great investing book for somebody that would like to do real estate investing on the side. However I attended John Schaub seminar (with the same title) and I felt the book was just a repetion of the seminar. However if you have attended the seminar and just didn't get off your feet after it, this book would be a great refresher. Great investing book for somebody that would like to do real estate investing on the side. However I attended John Schaub seminar (with the same title) and I felt the book was just a repetion of the seminar. However if you have attended the seminar and just didn't get off your feet after it, this book would be a great refresher.

  22. 5 out of 5

    A.E. L.

    I picked this up after John Schaub made a presentation at an investment group meeting. It is about how to build a successful portfolio of cash-flowing rental properties. I enjoyed many of John's suggestions for property aquisition and tenant relations. I have recommended it to friends who are also interested in rental property investing. I picked this up after John Schaub made a presentation at an investment group meeting. It is about how to build a successful portfolio of cash-flowing rental properties. I enjoyed many of John's suggestions for property aquisition and tenant relations. I have recommended it to friends who are also interested in rental property investing.

  23. 5 out of 5

    Stephanie Grassie

    I am very glad to have read this book...but my goodness did it take me awhile to get through. There was something about his voice that would only get me through a couple of chapters at a time. I cannot say I drank his kool-aid, but there was a lot of interesting and helpful information that has helped me and I am sure will continue to help me.

  24. 4 out of 5

    Antwanika Saxon

    One of the best, but could be better I'd buy this book again and will refer to it as reference. While I found it useful as a beginner I felt some parts were glossed over and not fleshed out enough. All in all one of the best books for beginners, but missed the mark in some spots. I'd still recommend to all beginners. One of the best, but could be better I'd buy this book again and will refer to it as reference. While I found it useful as a beginner I felt some parts were glossed over and not fleshed out enough. All in all one of the best books for beginners, but missed the mark in some spots. I'd still recommend to all beginners.

  25. 4 out of 5

    Ashley McMichael

    This book covers many of the fundamentals of buying houses and different strategies to do so. I found the layout of the book kind of annoying however, with all the subtitles on every page, and the writing a bit dry. I love investing and learning but I struggled with keeping my focus on this one.

  26. 5 out of 5

    Darin Davis

    The sixth book in my recommended curriculum of self-study on personal finances and investing. See www.ProfitableForAllThings.com for more details. The sixth book in my recommended curriculum of self-study on personal finances and investing. See www.ProfitableForAllThings.com for more details.

  27. 4 out of 5

    Monica Breckenridge

    Charles is such a delight. I've been to his seminars and he's is a smart man who invests wisely. Since I've been to his seminar about 6 months ago, I have accumulated 20 rental properties. Charles is such a delight. I've been to his seminars and he's is a smart man who invests wisely. Since I've been to his seminar about 6 months ago, I have accumulated 20 rental properties.

  28. 5 out of 5

    Ann

    A helpful resource for anyone who wants to own investment properties.

  29. 5 out of 5

    Alison

    Very informative, but a lot of the advice doesn't apply to our current economy. Very informative, but a lot of the advice doesn't apply to our current economy.

  30. 4 out of 5

    Hannah

    Good to read in conjunction with 'Investing in Duplexes, Triplexes and Quads' since they have conflicting ideas about which investment strategy is easier/most profitable. Good to read in conjunction with 'Investing in Duplexes, Triplexes and Quads' since they have conflicting ideas about which investment strategy is easier/most profitable.

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