Product Description

Why do some folks get rich while others just get by? The biggest stumbling block for most people is believing they lack the capital required for serious wealth-building. Untapped Riches dispels this myth. This remarkable book reveals that most homeowners are in fact sitting on "untapped riches." Working diligently to pay down mortgages, they are unwittingly tying up money in equity they could be investing elsewhere for greater return.

Offering 40 wealth-building and wealth-protection strategies, many of which fly in the face of conventional wisdom, Untapped Riches will change how readers think about borrowing money, investing, and mortgages. Challenging the idea that it is more financially sound to be debt-free, the authors believe that there is both good and bad debt -- and that the former is essential to generating cash flow and building significant wealth. Real estate tycoons know it’s all about leverage. Now, the authors, who made their own fortune in real estate, show how anyone can get the cash they need, and really put it to work.

Product Details

• Amazon Sales Rank: #631928 in Books
• Published on: 2007-01-02
• Original language: English
• Number of items: 1
• Binding: Paperback
• 240 pages

Features

• ISBN13: 9780814473962
• Condition: USED - VERY GOOD
• Notes:

About the Author
Susan Cutaia and Anthony Cutaia (Boca Raton, FL) run the Cutaia Mortgage Group, Inc., and host a daily television and radio program called Talk About Mortgages and Real Estate. Broker Magazine rated them number one in Florida for generating the most real estate revenue.

Customer Reviews

More Strategies Please!
I was really looking forward to reading this book but I have to say, it's been a bit of a let-down. The basic premise of the book is to take out a "New Smart Loan" aka an option-arm, and make the minimum payment (negative amortization). Then take the rest of the money you would have spent on a regular mortgage payment, and invest it into an account that earns compound interest. That's a valid idea, and I'm sure it works if you have enough discipline to follow through with it and not spend the money elsewhere, but that's pretty much all they talk about. I keep looking for some other strategies to imply, but they aren't there. What's frustrating is that they keep dragging this one concept on and on, writing new chapters that all say the same thing, and constantly fall back on their "New Smart Loan." I honestly wouldn't recommend this book.

Very Dangerous Advice
This type of thinking is what has led us to the credit crisis, real-estate implosion and record foreclosures. It works great when real-estate goes up, but if the value goes down, the mortgage is worth more than the house and the owner is underwater. This causes people to mail in the keys to the bank which add to the real estate glut.

This book is the road to financial ruin and a little research will tell you that this is what happened to the author. Look forward the the sequel: My life as a homeless person: How to buy the best cardboard boxes on the street with no money down.

Seriously, use fixed rate, conforming loans and do it the old-fashioned way. You will come out ahead.

Missed Fortune - Light
Smart loans, option ARMs, Pick A Payment what every you want to call them are blunt instruments used by the not so sophisticated buyer. While the concept presented in Untapped Riches does have some validaty a similar and more powerful concept is presented in a much more comprehensive and meaningful way in Douglas Andrew's Missed Fortune. Untapped Riches is a good place to start but will leave most with too little knowlege to do anything meaningful.