Manual of Creative Ideas for Real Estate and Paper
Manual of Creative Ideas for Real Estate and Paper by P. Thorpe
First published in 1992, The Manual of Creative Ideas for Real Estate and Paper was sold at real estate investor meetings across the country. Known as “The Little Green Book,” it sold thousands of copies. Because of the unique way it was distributed, unauthorized changes were made to the contents, some good, some bad, some just plain incorrect. Sometimes the author received his royalties, often he did not. Somewhat dismayed, he chalked his foray into publishing up to experience.
In 2017, twenty-five years after he first published his book, someone found a copy of the original at a garage sale and brought it to the author. It was like finding a long-lost friend. It reignited a fire in him and he was motivated to restore the book to its original form.
The book has stood the test of time. It is proof that solid real estate investing strategies work in any market. The first half of the book concentrates on real estate: acquiring, holding and divesting. The second half uses those same categories for Paper — notes, leases, I.O.Us., etc. There are real-life case studies to help you understand how paper can be used in real estate transactions and as a standalone investment.
Best of all, the book gets your creative juices flowing. Seeing how deals are put together triggers your brain into thinking, “What if we did …?” And that is the author’s intent and mission. He wants you to use the ideas, techniques, and strategies in this book as a starting point to help you realize that there are often many solutions to a particular problem.
If you’re in real estate investing, you need to understand the paper. Once you do, you’ll be able to do more deals and create almost exponential leverage while earning well-above-average returns. Paper is all around you, generating cash flows in the quadrillions of dollars. Once you understand that the entire world runs on these streams of income, you will have the upper hand in every transaction.
This book is a must-have for anyone who is serious about investing in real estate.
P. Thorpe started investing in real estate in the mid-1960s and within two years had acquired 89 multi-unit buildings. He quickly realized that real estate at that level was a full-time job, not an investment. He began investing in the business of discounted paper (first and second mortgages) and found he could get bigger returns on his money without the day-to-day management headaches of being a landlord. He liquidated his properties and never looked back.