Review of The Employee Millionaire - Personal Workbook
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Jason Hainsely B
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Review of The Employee Millionaire - Personal Workbook
[Following is a volunteer review of "The Employee Millionaire - Personal Workbook" by H. J. Chammas.]
The Employee Millionaire – Personal Workbook by H. J. Chammas - is the result of a previous, much broader body of work that focuses on manifesting long-term wealth by investing in rental properties. This edition focuses on specific actions to start investing. Inside is a practical workbook with template documents to draw on, called an Investment Blueprint.
The educational series was inspired by Chammas' mentor, Papa Joe. As a reader, you will learn to break down your asset classes, restrict your disposable income and start thinking like a wealthy person, as Chammas did. How, one may ask, can reducing your disposable income create wealth? Papa Joe taught Chammas answers to many questions like that. Including legally bypassing capital gains taxes and the difference between earned and unearned income.
This book teaches you the nuts and bolts processes that separate the amateurs from the professionals. You will, indeed, acquire skills to know your market, know your houses, know your systems and know your contracts. Before the finish line, you will master closing a win/win deal, do final checks and gather the correct documents for transfer day. Then there are new ideas where to start looking for your tenants. There will be Papa Joe in the back of your mind reminding you of how to do it right, all the way.
Chammas nails it when he comments that the modern person is more interested in audio and video stimulation. Many are reading less - that is true. Even for myself, I am reading less and less. I get all my news from on-demand news video media. In the rental property game, the rules need to be known and therefore read. And, as this book is a manual. I have summarized its core mission as an educational tool. It is seemingly straightforward, but I feel it would have its dramatic moments in the real world. It's the reaction to an issue that is the problem, not the issue itself.
This topic is already widely discussed in many self-empowerment book series in this industry. I did pick up a few challenging nuggets. Chaman's opinion on precious metals and the stock markets do break the norm, but I can agree with his justification of these opinions. He accurately describes the differences between the elite's and the typical layperson's mind of thought.
While reading the book, I decided to take a look on Youtube. I found that Chammas has a large following already. He has done many interviews and is prolific in his field. Many people are already taking action and completing these steps. They also publish their successful experiences online. I would be very interested in what he thinks about Cryptocurrency.
This book is highly suited to property climbers that want to make the right decisions. I knew a property climber that tended to ignore the 'Cash on Closing' principle. The climber was constantly topping up the mortgages from earned income. After taking on a retail business also, it proved too much, so downsizing had to take place at a hefty loss. Instead of buying in the city at high rates, why not go a few hours out of the suburbs for properties at a third of the price that guarantees no topping up.
Overall, this book has excellent content. I rate it 3 out of 4 stars. It is compact and fast to read, but you will have to read it a few times and take notes. It is practical and full of real-world know-how. I am sure there will be plenty of drama and action as soon as you start buying your first property.
******
The Employee Millionaire - Personal Workbook
View: on Bookshelves | on Amazon
The Employee Millionaire – Personal Workbook by H. J. Chammas - is the result of a previous, much broader body of work that focuses on manifesting long-term wealth by investing in rental properties. This edition focuses on specific actions to start investing. Inside is a practical workbook with template documents to draw on, called an Investment Blueprint.
The educational series was inspired by Chammas' mentor, Papa Joe. As a reader, you will learn to break down your asset classes, restrict your disposable income and start thinking like a wealthy person, as Chammas did. How, one may ask, can reducing your disposable income create wealth? Papa Joe taught Chammas answers to many questions like that. Including legally bypassing capital gains taxes and the difference between earned and unearned income.
This book teaches you the nuts and bolts processes that separate the amateurs from the professionals. You will, indeed, acquire skills to know your market, know your houses, know your systems and know your contracts. Before the finish line, you will master closing a win/win deal, do final checks and gather the correct documents for transfer day. Then there are new ideas where to start looking for your tenants. There will be Papa Joe in the back of your mind reminding you of how to do it right, all the way.
Chammas nails it when he comments that the modern person is more interested in audio and video stimulation. Many are reading less - that is true. Even for myself, I am reading less and less. I get all my news from on-demand news video media. In the rental property game, the rules need to be known and therefore read. And, as this book is a manual. I have summarized its core mission as an educational tool. It is seemingly straightforward, but I feel it would have its dramatic moments in the real world. It's the reaction to an issue that is the problem, not the issue itself.
This topic is already widely discussed in many self-empowerment book series in this industry. I did pick up a few challenging nuggets. Chaman's opinion on precious metals and the stock markets do break the norm, but I can agree with his justification of these opinions. He accurately describes the differences between the elite's and the typical layperson's mind of thought.
While reading the book, I decided to take a look on Youtube. I found that Chammas has a large following already. He has done many interviews and is prolific in his field. Many people are already taking action and completing these steps. They also publish their successful experiences online. I would be very interested in what he thinks about Cryptocurrency.
This book is highly suited to property climbers that want to make the right decisions. I knew a property climber that tended to ignore the 'Cash on Closing' principle. The climber was constantly topping up the mortgages from earned income. After taking on a retail business also, it proved too much, so downsizing had to take place at a hefty loss. Instead of buying in the city at high rates, why not go a few hours out of the suburbs for properties at a third of the price that guarantees no topping up.
Overall, this book has excellent content. I rate it 3 out of 4 stars. It is compact and fast to read, but you will have to read it a few times and take notes. It is practical and full of real-world know-how. I am sure there will be plenty of drama and action as soon as you start buying your first property.
******
The Employee Millionaire - Personal Workbook
View: on Bookshelves | on Amazon
Latest Review: Red Wave Imperative by Alan Schein
