REI BOOK REVIEW – The Book on Investing in Real Estate with No (and Low) Money Down

At a Glance: The PRIME Breakdown

This card provides a snapshot of the book’s core focus, helping you decide if it aligns with your learning goals.

The PRIME Takeaway:

This book masterfully demonstrates that a lack of capital is not a barrier to real estate investing, but an invitation for creativity and strategic action.

Who Is This Book For?

This book is a must-read for aspiring or new investors who feel stuck because they lack a large down payment. It is also an excellent resource for intermediate investors looking to scale faster by adding creative financing techniques to their arsenal. It is not recommended for individuals seeking guidance on property management, tenant relations, or advanced portfolio scaling.

In-Depth Review & Analysis

Ever felt the ambition to invest in real estate, only to have it crushed by the thought, “I can’t afford it”? Brandon Turner’s The Book on Investing in Real Estate with No (and Low) Money Down is the definitive answer to that paralyzing belief. This isn’t a book about getting rich quick; it’s a tactical manual for replacing cash with creativity, determination, and well-executed strategies.

The book is an absolute powerhouse in the Invest phase of the PRIME framework. Turner essentially provides a comprehensive toolbox filled with creative financing methods designed to get a deal across the finish line, no matter the size of your bank account. The core message is a powerful

[Mindset] shift: you don’t need to wait years to save up a 20% down payment. Instead, Turner provides chapter after chapter of actionable

[Strategy] blueprints, from leveraging partnerships to harnessing seller financing.

While the book excels at the transaction, it spends less time on the other phases. The

Prepare phase is addressed through the lens of building your reputation to attract partners and understanding the basic financial readiness needed to execute these creative deals. The

Research phase gets a surprisingly deep treatment in the chapter on wholesaling, which is a masterclass in marketing for deals and running the numbers. However, the

Manage and Expand phases are largely outside the scope of this book, which is laser-focused on acquisition.

Each chapter introduces a new

[Tool] for your investor toolbox, whether it’s a specific loan product like the FHA 203k loan , a legal structure like a lease option , or a funding source like private money. By the end, you’ll feel equipped not just with one path forward, but with a dozen different ways to structure a deal.

Chapter-by-Chapter Deep Dive: The Heart of the Review

This section offers a unique, chapter-by-chapter analysis of the book, providing critical insights beyond a simple summary.

Chapter 1: The Art Of Creative Real Estate Investing

• Summary: Turner establishes the book’s core philosophy: real estate investing is unique in its ability to let you trade creativity, motivation, and determination for cash.
• Our Takeaway/Insight: This chapter’s value lies in its crucial mental reframing. By challenging readers to shift from saying “I can’t afford it” to asking “How can I afford it?” , Turner makes real estate accessible to anyone with drive, not just those with deep pockets. This mindset shift is the foundation for every strategy that follows.
• Impactful Quote: “This is what creative finance is all about: replacing cash with creativity, money with motivation, and dollars with determination.”
• Quote Analysis: This quote perfectly encapsulates the book’s central thesis. It empowers the reader by stating that their most valuable asset isn’t their bank account but their own resourcefulness, setting a powerful tone for the entire book.

Chapter 2: Owner-Occupied Investment Properties

• Summary: This chapter details how to use low-down-payment, owner-occupant loans (like FHA, 203k, VA, and USDA) to acquire your first investment property, often a small multifamily, with very little cash.
• Our Takeaway/Insight: This is one of the most practical and accessible strategies for beginners. Turner shows how “house hacking” isn’t just a trendy concept; it’s a powerful government-supported on-ramp to real estate investing. The breakdown of the 203k rehab loan is particularly valuable, as it allows new investors to buy distressed properties and build equity from day one.
• Impactful Quote: “I believe the FHA loan, when used correctly, can be a powerful tool for new investors to acquire their first deal with minimal cash out of pocket.”
• Quote Analysis: This statement highlights the book’s practical nature. Turner isn’t just presenting abstract ideas; he’s pointing to specific, widely available tools and explaining exactly how a new investor can leverage them to get started.

Chapter 3: Partnerships

• Summary: Turner explains how to overcome a lack of cash or credit by partnering with someone who has it, structuring deals where you bring the knowledge and hustle while your partner brings the funds.
• Our Takeaway/Insight: The key concept here is that a great deal is the ultimate currency. The chapter’s focus on building your personal brand—your reputation, knowledge, and experience—is a game-changer. It teaches that you attract money by becoming a trustworthy operator, not by begging for it.
• Impactful Quote: “I believe 50% of a great deal is better than 100% of no deal.”
• Quote Analysis: This simple, powerful line cuts to the heart of partnership logic. It reframes giving up equity not as a loss, but as a necessary and intelligent trade-off to achieve forward momentum in your investing career.

Chapter 4: Home Equity Loans/Line Of Credit

• Summary: This chapter explores using the equity in an existing property (like a primary residence) as a source of capital to fund the down payment or entire purchase of a new investment property.
• Our Takeaway/Insight: This strategy is a fantastic “next step” for homeowners who have some equity but limited liquid cash. The distinction between a HELOAN and a HELOC is explained clearly , giving the reader a versatile tool that can be used repeatedly for multiple deals.
• Impactful Quote: “…if you have equity in your home… understanding the concepts is key in becoming a proficient creative real estate investor.”
• Quote Analysis: This emphasizes that creative financing isn’t about finding one magic bullet. It’s about understanding all the tools available so you can select the right one for the job, and home equity is a powerful tool many people overlook.

Chapter 5: Strategies For Using Hard Money

• Summary: Turner demystifies Hard Money, positioning it as a short-term tool used to acquire and rehab a property quickly before refinancing into a long-term, conventional loan.
• Our Takeaway/Insight: This chapter does an excellent job of showing that hard money, despite its high cost, is not something to be feared but a strategic bridge. The “Hard-Money-to-Refinance” strategy is a cornerstone of creative investing, allowing investors to compete with cash buyers for distressed properties that banks won’t initially finance.
• Impactful Quote: “The success of these strategies hinges on your finding an incredible deal. Incredible deals give you options and options help you build wealth.”
• Quote Analysis: This quote is a critical reminder that runs through the entire book. Creative financing tools amplify the results of a good deal; they cannot save a bad one. This keeps the reader grounded in the fundamentals of value creation.

Chapter 6: Raising Private Money To Fund Your Deals

• Summary: This chapter distinguishes private money from hard money and provides a framework for finding and working with individuals to fund your deals, often at better terms than institutional lenders.
• Our Takeaway/Insight: The interviews with experienced investors like Will Barnard and Brian Burke are the highlight of this chapter. They provide real-world, tactical advice on everything from deal structure to legal entities, offering a rare look behind the curtain of how professional investors raise and manage private capital.
• Impactful Quote: “Raising private money is about having great deals, building relationships, and ultimately delivering on the promises you’ve made.”
• Quote Analysis: This summarizes the ethics and strategy of private lending perfectly. It’s not just a transaction; it’s about building a reputation-based business where trust is the most important asset.

Chapter 7: Lease Options

• Summary: Turner breaks down the mechanics of lease options, detailing how an investor can use this strategy to control a property with little money down, generate cash flow, and profit from appreciation.
• Our Takeaway/Insight: The “Lease Option Sandwich” is the star of this chapter. It’s a truly creative strategy that allows an investor to become the middleman, controlling a property and collecting a spread without ever needing to obtain a loan. It’s a complex but potentially powerful technique for the right situation.
• Impactful Quote: “Use your power for good, not evil. This means only entering a lease option with tenants who could very reasonably obtain a loan within several years…”
• Quote Analysis: Turner’s emphasis on ethics is crucial here. He warns against the predatory use of lease options, reminding the reader that sustainable success is built on creating win-win scenarios, not on taking advantage of people.

Chapter 8: Seller Financing

• Summary: This chapter covers the classic creative strategy of having the property seller act as the bank, creating a private mortgage that allows the buyer to acquire the property without conventional financing.
• Our Takeaway/Insight: The most important lesson here is identifying the right seller. Turner correctly points out that this strategy is safest and most effective with sellers who own their property “free and clear”. The chapter does a great job explaining the seller’s motivations, such as tax benefits and steady income, which is key to successful negotiation.
• Impactful Quote: “Seller financing is about creating a win-win situation, not trying to take advantage of someone.”
• Quote Analysis: Similar to his advice on lease options, Turner stresses the importance of understanding and solving the other party’s problem. This collaborative mindset is what separates successful creative investors from those who just see deals in terms of numbers.

Chapter 9: Real Estate Wholesaling

• Summary: This chapter provides a comprehensive guide to wholesaling, which Turner defines as the art of finding incredible deals, getting them under contract, and selling that contract to another investor for a fee.
• Our Takeaway/Insight: This is arguably the most valuable chapter for developing a core investor skill: finding great deals. The detailed breakdown of marketing tactics, from “Driving for Dollars” to direct mail , and the deep dive into deal analysis (the 70% Rule and Fixed Cost Method) provide a complete business model that any investor can learn from.
• Impactful Quote: “The ‘secret’ to making good money from wholesaling is being able to consistently find great deals. This also happens to be the most difficult part of the wholesaling experience.”
• Quote Analysis: This highlights the unfiltered honesty of the book. Turner doesn’t sell wholesaling as an “easy button.” He acknowledges the difficulty but then provides the reader with a detailed, step-by-step roadmap to overcome that challenge.

Chapter 10: Creative Combinations

• Summary: The final chapter serves as a capstone, showing how experienced investors rarely use just one creative strategy in isolation but instead combine them to solve complex deal-making puzzles.
• Our Takeaway/Insight: This chapter solidifies the book’s core concept of the “investor’s toolbox”. The examples, like combining a partnership with a hard money loan and a refinance, teach the reader to think fluidly and see every deal as a unique problem that can be solved by mixing and matching the right tools.
• Impactful Quote: “Creative finance is a puzzle, and partners can be just the piece you need.”
• Quote Analysis: This quote, though from an earlier chapter, perfectly captures the spirit of the conclusion. It emphasizes that real estate investing at this level is less about following a rigid formula and more about being a creative problem-solver who can assemble the right pieces to make a deal work.

Key MST Highlights

This section summarizes the single most impactful Mindset, Strategy, and Tool from the book.

• [Mindset] Core Belief: The most profound takeaway is the mental shift from the restrictive “I can’t afford it” to the empowering question, “How can I afford it?” . This single change opens up a world of possibilities and is the psychological foundation for every creative technique in the book.
• [Strategy] Top Tactic: The “Hard-Money-to-Refinance” strategy is the book’s most powerful tactic for buy-and-hold investors. It provides a clear, step-by-step process for acquiring a distressed property that needs work (using hard money) and converting it into a stabilized, cash-flowing rental with long-term financing, often with none of your own cash left in the deal.
• [Tool] Most Valuable Resource:Partnerships are presented as the ultimate tool for overcoming personal limitations. Whether you lack cash, credit, or time, finding a partner who complements your weaknesses allows you to move forward on deals you could never do alone, proving that 50% of a great deal is infinitely better than 100% of no deal.

Final Thoughts

Brandon Turner’s The Book on Investing in Real Estate with No (and Low) Money Down lives up to its promise and then some. It is a dense, highly actionable, and empowering guide that systematically dismantles the single biggest obstacle for aspiring investors: the down payment. While it won’t teach you how to be a landlord or manage a large portfolio, it is an unparalleled resource for the art of the acquisition.

Unlock Your Investing Potential with the PRIME Framework

Enjoyed this breakdown? This review was structured using the REI PRIME framework, a comprehensive system for navigating every stage of your real estate journey. While this book offers powerful insights, the PRIME framework provides the overarching roadmap to connect them all. Understanding it will help you identify which books you need to read next and how to systematically build your knowledge from a solid foundation to a scalable empire.