What I Learned On Wall Street, Why Real Estate is the Best Investment documents the experiences of Lex Levinrad over a 15 year career on Wall Street. His story begins in a "boiler room" brokerage firm in Chicago and follows his experiences as a trader, registered options principal, and branch manager. The story illustrates what it was like to be a stockbroker during the years 1996 through 1999, while consistently being one of the largest commission generators at his brokerage firm.
Levinrad details his experiences recovering from the technology stock crash of 2000. The story continues as he becomes a real estate investor in Florida and then describes his experience buying wholesale real estate. Ultimately, Levinrad explains why he feels that real estate is the best investment.
This book shows you what you need to know when dealing with a financial advisor and why these individuals do not always act in your best interest. It also clarifies why it's sometimes better to have a money manager or financial planner instead of a financial advisor or stockbroker.
Customer Review: Wasted my time
I learned nothing from this book. It's the story of a stock broker's rise and fall. There is no instruction about real estate.
Customer Review: An Interesting Analysis Of Stocks Vs Real Estate
I thought this book would be more related to real estate. Instead, it is a story of the authors experiences with the stock market as a stockbroker and money manager. Having said that, what is interesting is why the author chose to abandon his work with stocks and devote himself exclusively to real estate.
The examples of comparison between investing in stocks versus real estate were very clear and the author tries to impress upon the reader the merits of real estate investing (rental properties) compared to other investments such as investing in stocks, bonds, or mutual funds.
The author makes a compelling case for why real estate is better for the average Joe. In the book, the author describes how it is possible to buy real estate with no money down. He then proceeds to explain how any other investment requires an initial investment. This fact alone, although presented in many other books is something that I think most investors overlook.
The author turns the old tried and true isms such as put down 20% and get a mortgage on it's head. Instead the author shows you how to buy real estate for 70% of it's appraised value and how to do it with no money down!
I would like to have had more real estate and less stock information but nonetheless, the author makes a very clear case for why he thinks that the average person is better off buying investment properties instead of putting money in mutual funds. Read More
