Want to get started investing in rental property, but not sure how? Do you want to become a full time real estate investor, but not sure where to start or how to buy rental property with confidence? Have you heard about real estate loopholes, but not sure how to use them to benefit you? This useful and informative guide will break down all the barriers you have to get started investing in real estate. Skip The Flip teaches you the fundamentals you have to know to be a successful investor.
The system is broken. What was once great advice of going to school, getting good grades, saving money and investing in a 401K is long gone. Many things in our financial system are broken and pitted against you. Were you taught in school how you can use other people's money to make yourself wealthy? Were you taught how you can generate millions a year in passive income through buying assets that puts cash in your pocket each month? Were you taught how to legally avoid paying a dollar in taxes.
No, you weren't.
Skip The Flip busts down all those walls and shares with you in an easy to read format exactly how you can use the information that the wealthy 1% has been using for decades.
Skip the Flip gives you the knowledge you need to change your financial life. After reading this book you will be able
Invest in Real Estate with no money Pay no taxes (legally) so you can keep all the money you earnUse debt to grow you wealthValue any piece of real estate so you will know what is a good dealBuild your monthly cash flow so you never have to worry about money again.Follow the advice in this easy to read book and your bank account will compeltely different in less than a year.
What is stopping you from building enough wealth and passive income to quit your job and live the life of your dreams?
Spoiler alert: this is not the secret 1% knows... more like what 99% property investors know.
Two stars because it’s good enough overview of property investing. It could’ve been 1-star because of the misrepresentations and overly optimistic view of property investing.
Samples: Equity from repayment is NOT tax-free. Property value - debt = equity, but the equity from the tenants’ monthly repayments are still income, and will be taxed accordingly.
Commercial real estate has less risk than residential: personal opinion. Number of tenants alone does not make a better, lower risk investment, especially in a product so different from residential investment. At this I would argue that 100-blocks of apartment is still not commercial, more like residential but scaled.
Opinion: cringe on “not paying tax is more patriotic”. No wonder USA is in such deep shit if enough amount of its citizen thinks like this 🧐 which seems to be wide enough gap for people to rise up nowadays.
About depreciation... it’s not what the book hypes them up to be. It’s money already spent after all, the benefit is in the retained value after it goes to “$0”. I.e., depreciation is NOT free money. It’s your post-tax money that you’ve spent, expenses away to prepare for FUTURE EXPENSE to replace it. This is the tax tail wagging the investment dog.
I’d be quite surprised if the 40% depreciation on first year didn’t trigger an investigation. Just because it could be done, doesn’t mean it’s the norm.
The calculations are fine. Chapter 57 is not really investment, more for someone who wants to become property investment dealer. Same tendency to paint everything bright.
Find a more realistic/pessimistic book to read after this to balance it out. With long-term investments, it’s time in the market that counts: keep yourself safe, find ways to mitigate and be aware of the pitfalls - things that are not covered in this book.
The short version: read Investopedia. Watch some YouTube. Save your money.
The longer version:
> The information in the following chapters has cost me more than $50,000 in college education, and $20,000+ in seminar and coaching fees.
Or he could have gotten the same quality for the price of internet access.
> Think of debt as a chainsaw. When used correctly, a chainsaw can help you cut down trees in a tenth of the time it would take without a chainsaw. With an axe it may take you an hour to cut down a tree. With a chainsaw, you can do it in less than 10 minutes.
The gods of math have not been generous with this one. Welcome to the 100 minute hour.
> Flipping houses can produce a tremendous income for people who do it successfully.
I'm not ironic, I love the one page chapters. This is probably the best part of this book.
> But remarks like that point out the author is winging it. The same way, one can make a lot of money if you dog dirt successfully. Replace with just any verb. Clean toilets, do make-up, play video games.
So does the author get the business? Or he's just another moronic motivational speaker?
> Also, flipping and wholesaling do not provide many of the tremendous behind the scenes benefits that real investing does.
This is a short book, yet so much space is wasted to tell the reader what flipping houses is not. Usually that is the mark of the ignorant trying to be deep.
> I actually prefer wholesaling to flipping because wholesaling is like flipping, but takes out a lot of your risk.
So he hasn't defined any of the terms so far, but he already has preferences.
> The idea that a home is a great investment is sold to us by the big banks who need customers for loans.
Yea. The guy is a moron, parroting the investment forums, well as much as he can grasp.
"Big banks". Because small banks are there for charity. Because the biggest owner of mortgages is a government entity. Because banks are in the business of real estate.
> To increase their profits, they need to make more loans.
Stupidity like this brought the housing bubble. Not more. Of better quality. So this guy can be a bank executive, but I guess he lacks the schooling. And he has no idea what's going on. Which is a positive signal: any ignorant can be a speaker. Or write a book.
> You do control real estate.
This reminds me of the various YouTube real estate gurus. He controls it in the sticks where momma raised him with the chickens and the pigs. Back where the gentlemen wear shoes you have more control over real estate, than with stocks, and that is about it. The State can tell you which plants you can cut, can fine you indefinitely for what you have on your lawn, it can even take your house for not trimming the said lawn.
> Real estate gives its owner the ability to control the value of his or her assets.
Right. Because the market buys at whatever value this brat says. You improve the house and than the bubble bursts and you are the best in the market with a loss of half a million. You control the value said he.
> This concept, leverage, allows us to buy more assets than we could buy on our own.
This is a crap ripoff Kyosaky.
> A wholesaler can sometimes be referred to as a bird dog.
A Must-Read for High Net Worth Traders and Investors
As someone who makes tens of millions annually through day trading in the Forex market, I’m always on the lookout for ways to maximize my wealth and protect my hard-earned money from excessive taxation. Hayden Crabtree's Skip the Flip is a goldmine of information for anyone serious about preserving and growing their wealth, especially if you’re in the upper echelons of income like myself.
This book goes beyond the basic strategies you find in most investment books. Hayden lays out actionable, sophisticated tactics for leveraging real estate in a way that complements high-income trading. The tax advantages alone are worth the read—these insights can easily save someone in my income bracket a substantial amount of money each year.
What I really appreciate is how accessible Hayden makes these advanced concepts. Even if you're deeply entrenched in the fast-paced world of Forex, this book will open your eyes to new avenues of wealth preservation and growth. If you're serious about maintaining and expanding your wealth, Skip the Flip is an absolute must-read.
Pros: author is enthusiastic, and explains things really well until 3/4 of the book in. Cons: I have a feeling these concepts are oversimplified but as a beginner, I couldn't tell you exactly what. He started to lose me with all the calculations. Also, it really annoys me when authors say go to my website and read this or watch this video. PUT IT IN THE BOOK. This is why I am reading the book!
Great for a new investor but for someone who’s seasoned perhaps not the best read.
The average millionaire has 7 streams of income.
Adopt a new mindset.
The main fundamental to follow to avoid pain in a recession is to buy real estate for cash flow rather than to flip it for a one time profit.
“Ghost expenses” - loopholes and incentives in the US tax code to at allows real estate investors to write off.
Don’t bend your rules on flipping - to make the numbers work.
Realtor is service based business than a real estate business
Underwriting - fancy word for analyzing
Inflation - every year, the value of the dollar is supposed to go down by 2%.
2% increase in rent per year minimum
The cap rate tells us what % of the purchase price the NOI is going to be over a 12 month period
Accelerated depreciation ⭐️⭐️⭐️⭐️⭐️
1031 - when you sell your property you have 45 days to identify a replacement property and 180 days to actually buy the property you say you are going to. The purchase price of the propertie(s) you buy has to more than the sales price of the property you sold.
If you can only identify 3 potential properties, if more you have to buy them all or pay all your taxes ⭐️
Interest paid = interest rate/12 x balance
Don’t wait to buy real estate, buy real estate and wait.
Value add investing ⭐️
Time value of money - a dollar today is worth more than a dollar tomorrow
Decent information on the topic, but most of this can be gleaned from other free sources. He did have some good examples and clear explanations though which were the shining aspect of this book.
I’ve been reading books on real estate for a while now. I came across this one because its title called my attention. Not a fan of the fix and flip strategy (I’m not capable of doing it and also in my country it is not a great business) so I got curious to know which advice or strategies the author could provide.
Most of the content is not applicable to my country. On top of that, most of the concepts that Crabtree reveals as Coca Cola’s secret formula are the ones I’ve read and watched on tons of blog posts or YouTube videos. Her style is interesting and engaging. The chapters are really short what makes them easy to read but at the cost of being shallow most of the time. Despite that she manages to include a couple of financial analysis and offers her website for get deeper on the topics. But she does it so frequently that at times it feels as if the book is just a sort of an ad for her website and services.
Concepts she introduced that I liked: you don’t need to be a realtor to invest (and sometimes it makes is worse), many “passive investments” are in reality quite active investments (like flipping), the difference between gambling and investing, why she prefers real estate over stocks and commercial over residential real estate, how she uses some financial tools like IRR, how to take into account taxes that she says are most people’s #1 largest expense and how to use debt to your advantage (unfortunately this is the core of the book and it doesn’t apply at least in my case).
In summary, it is not a disruptive reading but if you are doing some research on this topic, especially if you are in the States, you might find it useful.
If everybody wins then everybody wins. Disciplined investor who thinks big. Mr. crabtree is the real deal.
What my 👂 heard ⤵️
contrary to what most people believe I think you should share your business secrets flipping houses will make you money investing in cash flow real estate will make you wealthy what's your strongest limiting belief? if we bet on appreciation we're gambling not investing the great thing about investing is in real estate is that you own a piece of the world cars are one time money pass up deals with no margins you need to make 30% on a flip house house flipping can be profitable but it's less stable most of the time the only time I hear from a tennant is when they're paying me money commercial real estate has more profit potential less risky and less emotions involved if everybody wins then everybody wins once you correctly invest in real estate you'll be hooked forever
This book was very valuable for the information on how to analyze properties, especially because the concepts were broken down well and had spreadsheet screenshots to explain. Really appreciated being walked through how to set up these spreadsheets myself, as that helped me to understand even better than just at a conceptual level. The rest of the book was elementary, but did break down concepts well. The tone was relaxed and conversational, which is unusual for this topic which is normally very professional.
Found the information clear and easy to understand. I was blown away by some of the exit strategies and the refi till you die was. Really eye opening. I have several friends who invest in real estate notes and although that is strictly a cash investment it is a safe high yield that cash flows for long lengths of time. Your section on cap rates and value add was again very eye opening. Thank you for this book. GOOD READ!
If you are a beginner, this is a great book to start with. I found it extremely helpful with resources to aid you in understanding. As a beginner, terminology was explained in a manner I could understand and if I didn't, there's a free Facebook group to ask questions. This definitely whets my appetite and makes me want to delve into commercial real estate investing seriously.
For a free book specially, this was a great read. This a good summary of all the great genes of commercial real estate investment. I recommend this book even if you want to invest in the future,or currently own residential properties only. The shared knowledge here will be beneficial for you caree. Remember, it's all about education and network.
The author covers a lot in this book, but one thing stands out - focusing on cash flow, holding and optimizing real estate is the “secret” to wealth. Hitting on everything from taxes to modeling and property selection, you get high level views of the real estate asset class.
This book provides great insight and tips for newbies to start investing in real estate. I like the simple way the author explained the concepts of real estate investing. Just hoping the author would go deeper on explaining how to derive with certain numbers. Overall, very good information. Thank you sharing your knowledge.
I was planning to get started on my real estate journey into single family homes and after reading this I am rethinking my entire strategy. The numbers and strategies Hayden lays out are so simple to understand and he does this in 219 pages no less! Very valuable!
Basic intro to CRE. But the tax info is completely wrong (passive losses do not offset wages from W2 income) and the math on depreciation and taxes and depreciation + interest and taxes are completely wrong.
Fundamentals explained in easy to understand fashion. However, not enough advanced concepts for more experienced investors. I would rename the book as what 10% know.
This boos is an excellent summary of real estate investing. The writing style is clean, crisp and easy to understand even when discussing complicated topics.
I really enjoyed this primer on real estate investing. It breaks down essential concepts into lay terms and makes them accessible to beginners like me.
Skip the Flip is a great book for a beginner real estate investor. It goes over a lot of terms and ideas in depth with great examples that are easy to follow. I would recommend it to those who are looking to start their real estate investing career and build wealth.
This could definitely be tightened up but it was easy to follow and includes lots of free resources. You won’t find anything totally unique here, but I got what I came for.