Purchasing Books


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Purchasing Books sorted by Average customer review: high to low .

Purchasing
Managing the Demand-Supply Chain
Published in Hardcover by Wiley (2001-02-15)
Authors: William E., Jr. Hoover, Eero Eloranta, Jan Holmström, and Kati Huttunen
List price: $85.00
New price: $19.94
Used price: $15.42

Average review score:

a waste of time
Helpful Votes: 0 out of 0 total.
Review Date: 2006-05-30
totally descriptive, with little structured analysis, focused on process issues and very high level strategic considerations, my summary of this book holds in six pages.

Enlightning reading
Helpful Votes: 0 out of 0 total.
Review Date: 2003-09-27
This book take a refreshing new look at SCM, by setting the customer in the center of all avtivities. How many books have not told us how to position the decoupling point? This book helps us understand how to syncronize our supply chain with our customers demand chains. Great book!!

Fantastic Book on Demand-Chain and Market-Based Operations
Helpful Votes: 0 out of 0 total.
Review Date: 2002-12-14
I had the pleasure of discovering "Managing the Demand-Supply Chain" at a book store in Seoul, Korea. What luck!!! The authors provide a wealth of knowledge that is immediately implementable. When so many business books merely serve as "sales pieces" for their consultant-authors, it is sometimes surprising to find one that is actually actionable. I highly recommed this book to anyone interested in market-based management and value-chain management. [One note of caution: This book is ALL business. In otherwords, it can take a little "work" to read through a small number of dry and technically written sections. However, I think you'll agree with me when I say that it is more than worth the effort.] Two thumbs way up!!

Fantastic Book on Demand-Chain and Market-Based Operations
Helpful Votes: 2 out of 2 total.
Review Date: 2002-12-14
I had the pleasure of discovering "Managing the Demand-Supply Chain" at a book store in Seoul, Korea. What luck!!! The authors provide a wealth of knowledge that is immediately implementable. When so many business books merely serve as "sales pieces" for their consultant-authors, it is sometimes surprising to find one that is actually actionable. I highly recommed this book to anyone interested in market-based management and value-chain management. [One note of caution: This book is ALL business. In otherwords, it can take a little "work" to read through a small number of dry and technically written sections. However, I think you'll agree with me when I say that it is more than worth the effort.] Two thumbs way up!!

Purchasing
Price-Based Commitment Decisions in the Electricity Market (Advances in Industrial Control)
Published in Kindle Edition by Springer (1998-12-10)
Authors: Eric Allen and Marija Ilic
List price: $137.00
New price: $109.60

Average review score:

useness,new,needed by dev-ing country! If Free,Best!
Helpful Votes: 0 out of 7 total.
Review Date: 2000-01-06
useness,new,needed by dev-ing country! If Free,Best

Sophistry
Helpful Votes: 1 out of 1 total.
Review Date: 2001-08-23
The unit commitment problem is stated using math formulas which contain 28 symbols. To understand the formulas, it is necessary to memorize the definition of each symbol. If you have the patience, you can translate the formulas into something coherent in about 3 hours. The result is rather straight forward and forms a basis for understanding which, theoretically, is the purpose for which the book was written.

For those who are already familiar with the symbols, see the review by the reader from Yonkers.

Review
Helpful Votes: 1 out of 5 total.
Review Date: 2000-06-07
Excellent book. Definite keeper for anyone working in the market. Appreciate the source code and data which backs up the paper. For those who believe in cost based world, get this book and compare your results

Waste of time and money
Helpful Votes: 6 out of 6 total.
Review Date: 2001-06-14
This text appears to have been a technical report or a PhD thesis that was modified to become a book. The authors did their best to stretch the page count by providing basic information that is generally known by most senior-level students in electrical engineering or operations research. Even after this exercise, the "real" page count is 108. The remainder of the book was made possible by copying several standard formulas from a statistics book, by downloading and plotting some of PJM's data (isn't the Internet great?), and by providing an amateurish source code for some of the material suggested in the book for the single-unit case.

The book begins by describing the unit commitment problem, referencing a total of 9 journal articles (Page 9), but skipping most of the important references in this area. It is strange to discuss unit commitment (in a book) without mentioning the original work of Muckstadt and Koenig (1977), Merlin and Sandrin (1983), or that of Zhuang and Galiana (1988), to name a few. The authors quickly discount all previous work as being inadequate as it does not handle many of the important elements of a system (leading you to believe that they are going to discuss these issues), such as network constraints or losses. I suggest that they refer to "The Generalized Unit Commitment Problem" by Baldick, IEEE Transactions on Power Systems, 1995, for a discussion on this subject. I also strongly recommend that Mr. Allen and Ms. Ilic obtain a copy of (the outdated) "Unit Commitment Literature Synopsis" by Sheble and Fahd, IEEE Transactions on Power Systems, 1994. It may serve as a starter on this subject. The most impressive aspect of this book is its depth, or lack there of. The authors manage to provide their deep knowledge of the unit commitment problem and its solution techniques in less than 5 pages.

Chapter 3 describes the unit commitment in a deregulated environment in the most simplistic fashion possible (indicating the authors' lack of any true experience in this business) resulting in six pages of basic material. In chapter 4, the reader is presented with a pathetic review of dynamic programming. Chapter 5 is even more interesting. The authors assume a known price process in the market and optimize each individual generating unit based on these prices. They discuss (in less than 7 pages) the use of dynamic programming to solve the unit commitment (in reality a single generator) with and without generation limits using normal and lognormal price distributions. For those of us teaching dynamic programming to senior or master level students, the three models could serve as a homework assignment. If you are a "quant" on the trading floor, you may want to derive these formulas during your lunch hour.

Chapter 6 is entitled "Price Process of Electricity". Thanks to the statisticians of this world, the reader is bombarded with endless tests and distributions describing electricity prices. The authors skillfully demonstrate their ability to use Matlab to draw a large number of graphs.

I must admit that I stopped reading when I reached Chapter 7 "Computational Complexity of the Unit Commitment". The authors say that the dynamic programming is widely used for solving stochastic optimization problems "however, it also has the disadvantage of non-polynomial (NP) growth of operation count with respect to problem size." They refer the reader to the book by Bertsekas on Dynamic Programming and Optimal Control. The authors abruptly shy away from discussing this subject. Given the depth of the book, I would have expected a proof showing that the problem being discussed (the unit commitment) is NP. It is not sufficient to say that their formulation suffers from exponential growth. If the matter is so simple, I have several problems that I modeled as dynamic programs and would like to claim that they are NP (including a couple of linear programs that I solved using dynamic programming as I was lazy to call the LP solver).

In summary, the book is a waste of time and money. It is a sad demonstration of how tenure and graduation pressure can lead people to publish garbage. If you need to learn about this subject, I suggest searching the web for articles related to deregulation. Then, you can buy Bertsekas's book (or refer to your notes from college), use your good old Schaum's Series on statistics, and derive the results that truly fit your problem.

Purchasing
Purchasing & Evaluating Airplanes
Published in Paperback by Odyssey Aviation Publications (1997-01)
Author: Brian M. Jacobson
List price:
New price: $15.50
Used price: $8.84

Average review score:

This book could save you serious $ later! Great for newbies.
Helpful Votes: 11 out of 11 total.
Review Date: 2001-11-13
Mr. Jacobson is probably the top-rated aircraft appraiser in the USA: He's the guy who teaches the appraiser certification courses at the National Aircraft Appraisers Association. So he definitely knows his stuff.

In many ways, buying a used airplane is actually MORE complicated, and financially risky, than buying a house. Yet buyers will launch into their first airplane purchase, often spending MORE than a house costs, based on half-truths gleaned from friends at the airport or a few magazine articles. Newbie buyers don't know the right questions to ask the seller or are too quick to trust brokers and dealers. They get so worried about money that they skip $350 for an independent review of the airplane by a professional appraiser. (Do you know of anyone who buys a house without an appraisal in this day and age? Then why would you buy an airplane that costs $50,000+ without one?!!!) Or they don't know exactly what to have the mechanic search for during the pre-purchase inspection, or accept a "rubber stamp" inspection given by a friend of the broker, so they later learn that the airplane has more serious problems than they expected. BUT NOT IF THEY HAD READ THIS BOOK.

As a fellow NAAA-certified appraiser and an aircraft broker, I have read all the books out there on buying used aircraft. This book is probably the best in the category of "general" information about buying airplanes...he doesn't get into specific models of airplane. It's designed for beginners: those who have never purchased a plane before. He tells you how to find the right plane and covers every step of the pre-sale and sales process. The reference material at the back of the book, "Brian's Guide to Purchasing A Used Airplane" and "Walkaround Inspection Checklist," is alone worth the price. And his various tips and tricks could really keep you from getting stung at various steps of the process.

But even though it's best for beginners, there is plenty of information for everyone: Even with my experience, I found several little tidbits I didn't know. Overall, I'd recommend this book to anyone who hasn't purchased at least two or three airplanes in his or her time, or hasn't purchased one recently. It is best read before you begin the used aircaft search process, and then referred to again at various times during the process. I would have given it 5 stars if it had more information for advanced readers. When coupled with specific reviews from Aviation Consumer, information from the "type club" for that airplane, an independent appraisal, and the right pre-purchase inspection, this book will keep you from spending thousands on a pig-in-a-poke.

By the way: I disagree with the previous reviewer about appraisals. One does not need to be buying a Bonanza or light twin to justify an appraisal. Did you know that buyers who get an appraisal done before purchase back out of about 50% of aircraft purchase deals after they see the appraisal? It turns out that, when viewed by a professional, the airplanes simply aren't worth what the seller says they are, but it takes an appraiser to find that out. That is PROOF that they work. (And the fact that over 5,000 banks require appraisals of aircraft they finance is further proof.)

An appraiser is your "eyes and ears" about an airplane. He cuts through all the fluff being put forth by the seller or his agent. If you live a considerable distance from the airplane, an appraiser can help you verify that the plane is what the seller says it is (never believe the pictures!) before you spend the time and money traveling to the bird. He'll review the logbooks for damage history and missing pages or books (which can affect the value of the plane by 10% or more), take pictures, inspect every visible inch of the airframe, enter it all into his special valuation software (which is updated monthly with data provided by banks), and generate a 6-page report on the airplane, including its REALISTIC value. It could be the best $350 you ever spent! (In many cases, the appraiser is also an A&P mechanic and can do a full pre-purchase inspection as well.) Spend a nickle to save a dollar...you'll be glad you did.

Marc C.,
Aircraft Appraiser/Broker
Portland, OR

Purchasing and Evaluating Airplanes
Helpful Votes: 2 out of 3 total.
Review Date: 2003-02-15
While the book is interesting, ..... I have known many private pilots who have purchased small aircraft in much the same way they purchase used car, and never had any problems. Mr. Jacobson seems intent on creating a "buyer beware paranoia" for private plane purchasers by telling many "good deals gone bad" and "horror stories" about consumers buying their own planes without a professional appraisal and/or inspection. It almost seems this book is an advertisement for the airplane appraisers and inspectors more than anything. In summary, while this book has some interesting points, the author's perspective must not be forgotten, as he is in the business of making money off prospective buyers who have worries or concerns about their plane purchase.

Use your money to join AOPA instead
Helpful Votes: 7 out of 9 total.
Review Date: 2002-03-27
Mr. Jacobson has good advise and presents it in a logical manor. However, I felt it was overpriced for what was offered. I would recommend that anyone looking to purchase an airplane (or planning to do anything else in aviation for that matter) join the Aircraft Owners and Pilots Association ...and take advantage of their extensive website. Along with a great monthly magazine, AOPA offers a multitude of resources for anything you can think of relating to general aviation including purchasing & evaluating airplanes. No I don't work for AOPA, I just kept thinking as I read "Purchasing & Evaluating Airplanes" that the price of the book would have paid my annual dues. And AOPA offers so much more.

A Well-organized reference for first-time airplane buyers
Helpful Votes: 9 out of 9 total.
Review Date: 2001-08-05
This guide carefully outlines the steps necessary in evaluating and purchasing a general aviation aircraft. Jacobson's down-to-earth writing style on a subject that can be quite complex is refreshing and appreciated. He tells you what to look for and what to look out for when searching for the right plane.

I researched the purchasing of an airplane quite extensively before I purchased this book and still found many more valuable details which helped me secure my first bird.

What is most appreciated in this book are the many 'horror' stories Jacobson has collected through his years of experience. He illustrates these scenarios carefully so that the reader is aware of the many pitfalls when purchasing an aircraft. One almost gets the feeling that one has an 'inside track' on the ins and outs of the dos and don'ts of the purchase process.

The only stumbling block on this book's journey to aircraft reference stardom is Jacobson's nagging reference to chapter 11 (and no, not bankruptcy). In chapter 11 of the book, Jacobson practically demands the use of a professional aircraft appraiser. Don't get me wrong, the idea of an appraiser is an excellent one, especially when purchasing what are considered 'top end' GA aircraft such as Bonanzas and big twins, but the continued 'plug' for an appraiser's services (like himself) is a bit hokey. It's no doubt that the raving review on the back cover of the book was written by the executive director of the NAAA! I hope that Jacobson relizes that his book is a hit-the-nail-on-the-head guide even without the numerous plugs.

I may also have 'gotten lucky' like he did with his first aircraft purchase whe I became the proud owner of a handsome '57 Pacer. I made use of his book, outside research, and (if not mostly) the invaluable assistance of one of the best pilot/A&P I have come across. My trust in his wealth of experience and opinion of my future purchase were truly invaluable.

My suggestions are: research the subject (this includes getting hold of a copy of this book), read the book and pay attention to the details (its chock full of them), and find yourself a few trusted, experienced individuals who want you to fully enjoy the experience of aircraft ownership. It's amazing what you can absorb in a few rainy days of hangar flying.

Good luck!

Purchasing
The Purchasing Handbook: A Guide for the Purchasing and Supply Professional
Published in Hardcover by McGraw-Hill (1999-12-17)
Authors: Joseph L. Cavinato and Ralph G. Kauffman
List price: $99.95
New price: $200.00
Used price: $74.50
Collectible price: $129.99

Average review score:

The Purchasing Handbook: A Guide for the Purchasing and Supply Professional
Helpful Votes: 0 out of 1 total.
Review Date: 2006-07-02
it't not what I expected contents

Complete disappointment.
Helpful Votes: 15 out of 15 total.
Review Date: 2003-01-25
This book is unnecessarily verbose, incoherent, and nowhere close to what its title suggests.

This book is a collection of articles/chapters written by different authors. As a result of that, not only there is no connection and coherency among chapters but also topics covered in the seemingly related chapters are different and unrelated. The coherency and relationship among chapters are just limited to their names not what is inside them. For example, in "Part 5: Item and Industry Practice" there are separate chapters on "Raw Material", "MRO Materials", "Software and Intellectual Properties", "Capital Equipments" to name a few. I would imagine that each of these chapters will discuss purchasing process, nuances, and best practices for these items. But unfortuantely, all these chapters are independant and adderess totally different issues.

I guess, if you want to learn about purchasing, you would be better off searching on the web and reading different articles on purchasing then spending money on this book.

This book is the guide for the new role of Purchasing today
Helpful Votes: 27 out of 39 total.
Review Date: 2000-04-20
The purchasing Handbook has allow me as a professional in this field to make confident, informed decisions everyday at work, the Handbook goes beyond to just informing the current trend in purchasing because it takes an innovative look at future trends and issues while delivering today's accurate purchasing and supply information, integrating the direction of today's business.

Thanks...

Purchasing Handbook ** An All-In-One Guide
Helpful Votes: 4 out of 6 total.
Review Date: 2001-05-13
As a person who developes Purchasing/Inventory Software, this book has brought to my mind a deeper understanding of the process of Purchasing and how it relates to Inventory and Procurement methods, worldwide purchasing problems and methods. Things that, after many years in the business, I have never thought of or considered before.

The scope of this book is fantastic! A true bible of Purchasing...

This is a definite resource of anyone in the purchasing environment (or even programing environment)! A must Have!!!

Purchasing
Supply Chain Management: The Basics and Beyond (The St. Lucie Press/Apics Series on Resource Management)
Published in Hardcover by CRC (1997-04-03)
Author: William C. Copacino
List price: $74.95
New price: $4.00
Used price: $2.99

Average review score:

Outstanding! Worth the $$$.
Helpful Votes: 1 out of 7 total.
Review Date: 1998-05-22
Perfect book for anyone interested in learning the fundamental and competitive advantages of supply chain planning. Very interesting and enlightening. It's quite rare that I respond to book reviews, it's that good!

A series of articles does not make a book.
Helpful Votes: 13 out of 14 total.
Review Date: 1998-08-05
I was disappointed. Make sure you understand that this book is a compilation of a series of articles that appeared from mid-1980 to mid-1990. Two problems arise: 1) Since each article is brief, there is no depth to the subject matter, and 2) though a valiant attempt was made to organize the articles into logical chapters and categories, the truth-of-the-matter is that the flow of information from one article to another can be disjointed and difficult to follow. With all due respect, the author points this out in his Introduction, but alas, I had already purchased the book.

basic and introductory, a mix of articles on logistics
Helpful Votes: 3 out of 3 total.
Review Date: 1998-02-09
Gives a rough idea on supply chain management.Fails to elaborate on he subject, sometimes no link between one article to other. The author has the ability to explain very well. Better to take some leading journal articles for discussion.

Good Compilation of thoughts on Supply Chain
Helpful Votes: 7 out of 8 total.
Review Date: 1998-09-04
This is a Compilation of good articles. It gives an idea about Supply Chain thoughts developed over a period of time. We cannot see all articles connected and establish a chain of thoughts because it seems a book was not planned when the author was writing these articles. However,Very good book for knowing the fundamental concepts of supply chain.

Purchasing
101 Ways to Make Money in the Trading-Card Market
Published in Paperback by Bonus Books (1994-08)
Authors: Paul Green and Kit Kiefer
List price: $8.95
New price: $6.44
Used price: $0.74

Average review score:

Super Advice. Forget about the publishing date.
Helpful Votes: 0 out of 0 total.
Review Date: 2003-11-06
If you want to buy this book for advice on which specific players cards to buy, probably the others reviewers are right, but if you want to know the lasting secrets and advice regarding what makes a card good, this is the book for you. I even liked the advice on players, because I checked the last price guides, and it was good as a lesson. Use this book to get knowledge of the craft, that is the intention of this book.

Great!
Helpful Votes: 2 out of 8 total.
Review Date: 2000-05-17
This book is great im now making tons of extra money by selling and buying cards at the right time i say buy it if you want to make some cash.

Avoid this outdated book!
Helpful Votes: 9 out of 10 total.
Review Date: 2000-09-22
This book was written in 1990 and reprinted in 1994! The trading card market has undergone a drastic change since then with the market for baseball cards at an all time low. The authors give stupid advice reflecting the time span missing since it was updated. A few examples: One chapter is titled," SELL YOUR MARK MCGUIRE, RUBEN SIERRA, IVAN RODRIGUEZ,............................CARDS'!!?? The author tells us "McGuire is just not enough of an all-around player to land in Cooperstown"??? Another Chapter tells you to "sell your Nolan Ryan cards". Very bad advice. If you followed this advice in 1990 you would have lost tons of money. Equally bad advice is given on who to buy for the long term investment, they suggest Greg Jefferies, and Larry Walker to name two. They are unremarkable players whose careers are near the end or over. They also suggest to sell the basketnball cards to invest in baseball. This made sense in 1990 when Basketball was not very popular but is now much more popular than Baseball. Now to be fair, they do advise to purchase Jose Caanseco,Barry Bonds, Don Mattingly, etc. The point is, these players are already at the top of their careers and so are the prices for their cards. This book needs to be updated with a new list of potential superstars to invest in. In other respects the book offers some good advice on special issues to collect.

Purchasing
1998 Edmund's New Cars: Prices & Reviews98 (Edmundscom New Car and Trucks Buyer's Guide)
Published in Paperback by St. Martin's Press (1998-01)
Author: Edmunds Publications
List price: $8.99
New price: $1.48
Used price: $1.47

Average review score:

Review for Car Pricing and Luxuries
Helpful Votes: 0 out of 2 total.
Review Date: 2000-06-15
This is a good resource. I used it for research on my own new car. Good source of information.

This book had everything i needed
Helpful Votes: 1 out of 1 total.
Review Date: 1998-09-27
This book had every thing that had to do with new cars

Not for the future suv buyer, no information in the book.
Helpful Votes: 2 out of 2 total.
Review Date: 1998-07-02
I purchased this book for details and comparison reviews of 1998 suvs. This book does not contain any although the book summary led me to believe that it did. Now I must buy a Trucks review book, because that's the category of vehicle suvs fall under.

Purchasing
Blueprints 2: Composition Skills For Academic Writing
Published in Paperback by Houghton Mifflin Company (2005-06-08)
Authors: Keith S. Folse, M. Kathleen Mahnke, Elena Vestri Solomon, and Lorraine Williams
List price: $38.95
New price: $24.45
Used price: $4.99

Average review score:

blue print
Helpful Votes: 0 out of 0 total.
Review Date: 2008-06-17
it was ok. It has so meny things wriiten in ti, but I got it for a very cheap price.

grammar for ESL
Helpful Votes: 0 out of 1 total.
Review Date: 2007-01-18
The workbook is good but the format is a little bit jumbled. Lists should be in the appendix and cross referenced

A Solid Book for Intermediate/Advanced ESL students
Helpful Votes: 1 out of 1 total.
Review Date: 2007-05-25
This solid book provides ESL students and community college members with a strong foundation in academic writing.
Grounded in both classic techniques and modern readings, Blueprints 2 helps fill that awkward, and considerable, skills gap between what weak students know and what college courses require. An excellent resource for IEP summer programs - and low level community college composition courses.

Although I currently teach another text, Introduction to Academic Writing for Graduate Students (Swales), I also know that many of my so-called "Intermediate ESL" graduate students would benefit a great deal from this fine text.

By the way, the author Folse has made many contributions to the ESL field from his excellent Great Essays and Great Paragraphs to Clear Grammar 2 and Discussion Starters.

Purchasing
The Book of Yields
Published in Hardcover by John Wiley & Sons Inc (2003-01-13)
Authors: F.T. Lynch, Andrew H. Feinstein, John M. Stefanelli, and NRA Educational Foundation
List price:

Average review score:

School Text reference book
Helpful Votes: 0 out of 0 total.
Review Date: 2008-05-15
I received this book in excellent condition. It arrived one day earlier than expected, which was great. I would definitely order again from this vendor and I actually am placing another order today.

NOT WORTH THE TROUBLE
Helpful Votes: 0 out of 0 total.
Review Date: 2007-10-11
The print quality of this book is awful. It is barely readable.

0 Stars!The Book of Yields: Accuracy in Food Costing and Purchasing

THE BOOK OF YIELDS
Helpful Votes: 1 out of 1 total.
Review Date: 2007-06-10
This is an excellent book for any chef or food and beverage manager looking to save time while maintaining accuracy of food cost work sheets. Contains a lot of food yield tables as well as many excellent examples of worksheets that you can use. Money well spent to save time.

Purchasing
Formulas for Wealth: How to Create a Fortune in Real Estate
Published in Hardcover by Skyward Publishing (2001-12-28)
Author: Ph.D, Albert J. Lowry
List price: $29.95
New price: $7.50
Used price: $7.50
Collectible price: $89.85

Average review score:

"Almost as exciting as a college anatomy textbook"
Helpful Votes: 6 out of 11 total.
Review Date: 2002-09-13
I had high hopes when I purchased this book. I am sorry to say, I was not impressed. As a budding Real Estate student, I hoped to get a lot of great information on buying and selling properties. It seemed to me, that Dr. Powelsons only interest is to take advantage of unsuspecting victims (Caveat Emptor). That wasn't my biggest gripe, however. This book was just plain tough to read, It's not that it contains big words or anything, it's just plain confusing. I also felt that the print was too small. Almost every time I start reading it I fall asleep. Perhaps it is written only for advanced investors. I will keep my book as a reference guide,as there is a lot of great information in it. "The Real Estate Bible", as he calls it... hardly... Sorry, thats just my opinion. Modern Real Estate Practice, by Galaty, Allaway, and Kyle--now that is more like the Real Estate Bible. That book covers just about everything pertaining to Real Estate. This book is just about buying and selling for nothing down, etc.. As I've said, this book does have a lot of advise concerning creative financing, and I may have some of its information tucked away somewhere in my gray matter. Someday this book may make more sense to me, but not now.

Change the way you see things.
Helpful Votes: 6 out of 7 total.
Review Date: 2002-07-11
I enjoyed reading this book. Lowry & Powelson made things simple to understand...and exciting. You cannot help but want to get up everytime you put the book down and go out to try the techniques put forward by the authors of the book.

Most of us have only been exposed to the usual ways of thinking. The usual models. The usual methods of dealing with real estate. Reading this book expanded my horizons and one cannot help but start to think and see things differently.

There are books that lecture you. This book inspires me to go out and do something - to try.

A TEN OUT OF TEN--EXCELLENT
Helpful Votes: 69 out of 75 total.
Review Date: 2001-11-22
Since the book has received rave reviews from the LA Times and other national newspapers, this book is a must read for all those serious about gaining wealth in real estate transactions.

By ROBERT J. BRUSS, Special to The Times
If you are a serious real estate investor, or if you want to be, don't miss Richard C. Powelson's new book, "Formulas for Wealth." The author, a former president of the Illinois Assn. of Realtors, former director of the National Assn. of Realtors and a longtime real estate investment seminar instructor, knows his topic.

Powelson focuses on how to get started investing in real estate with zero or little cash and build a fortune. Along the way, he explains dozens of techniques he has used, such as land contracts, lease-options and wraparound mortgages. The author doesn't overlook the downsides of these investment techniques, and he shows how to avoid problems. For example, in the section on land contracts (where the seller retains title but the buyer is the equitable owner), Powelson emphasizes the importance of using an escrow agent to collect the buyer's payments, to make payments on the existing mortgages and to hold the property deed until the buyer is entitled to receive it.

If the book has a flaw, it is the unrealistically low prices in the examples. The author lives in the Midwest, near Kansas City, Mo., where realty prices are cheap. His low-price illustrations, such as being able to buy houses for $40,000 or $50,000 when the nationwide average is more than $100,000, test readers' skills in relationship to their local residential markets. This is a sophisticated book that novice realty investors will probably need to read several times to fully understand.

When I read my first real estate book back in 1963 by Nickerson ("How I Turned $1,000 into $1,000,000 in My Spare Time"), I outlined it to understand its unique realty techniques, which had never been explained in print before. Powelson's book, which is excellent, isn't quite in Nickerson's class. But it is a modern summary of dozens of real estate investment techniques. Not every method will work on every property purchase, but all you need is one.

The book's theme is "how to invest in real estate with little or none of your own cash." Along the way, the author shares creative techniques he has used to build his estate over his long realty investment career. Some methods seem more relevant than others, but it's up to the reader to decide which methods to use.

Although I don't agree with all of the book's advice, especially about using bonds to purchase real estate, this new book is a worthwhile read.

It is filled with old and new real estate finance ideas that most readers either haven't learned yet or have forgotten. On a scale of one to ten, I give this excellent book a solid 10.


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