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The author of the rags-to-riches real estate bestseller
Nothing Down for the '90s presents advice drawn from 20 years of writing and promoting get-rich books through seminars, infomercials, and home-study courses. In
Multiple Streams of Income, Robert G. Allen shows you how to create income with little or no investment. Says Allen: "Today, very few families can survive on less than two streams of income. In the volatile future, you will need a portfolio of income streams--not one or two--but many streams from completely different and diversified sources."
Beginning with advice on controlling spending and increasing savings, Allen hits his stride in chapters on stock market and real estate investing. He draws on the investment advice of others, including Peter Lynch, and even suggests that you invest in Berkshire Hathaway and let Warren Buffett manage your money. Allen also shares his real estate strategies for finding motivated sellers, securing creative financing, and buying foreclosures and tax liens. Additional chapters cover multilevel-network marketing, information and product licensing, and marketing on the Internet. Throughout are checklists, work sheets, and testimonials, as well as pointers to more articles and materials on the author's Web site. It's useful to have so much information so concisely and well explained, and many who read this book will find it hard to resist implementing one, if not several, of Allen's recommended income strategies. --Scott Harrison
From Publishers Weekly
The man behind Nothing Down: How to Buy Real Estate with Little or Nothing Down is back; this time, he stops just short of promising every reader untold riches. A quick look at the chapter titles--"Infopreneuring: How to Turn a Tiny Classified Ad into a Fortune," "The Internet: Your Next Fortune Is Just a Click Away," etc.--prepares readers for the journey ahead. Allen's basic advice is to get paid multiple times for the same work: write a book or a song or license an innovative idea and collect royalties for years; become a multilevel marketer and get a piece of every sale made by others in the organization. The dollars will literally roll in while you sleep, Allen claims, hardly wasting a comma on the fact that most people fail to create recurring streams of income from these ventures. The hype obscures the sound financial advice he does offer: live well within your means, save regularly and invest a significant portion of your money in index funds. However, Allen doesn't help his case by making it sound as if a 20% return in the stock market is commonplace or by suggesting that engaging in esoteric investment strategies such as writing "covered calls" is as easy as falling off a log, and much more profitable. It is too bad the book doesn't come with a money-back guarantee for readers who don't become millionaires. At least that would have been a sure thing. 150,000 first printing; $300,000 ad/promo; 15-city author tour. (Apr.)
Copyright 2000 Reed Business Information, Inc.
