Read the first review on Amazon of this book. It is quite informative:
“Then we have Sherrena who with her husband runs about 18 buildings (mostly two-family flats) in the African-American neighborhoods on the north side of Milwaukee. In a chapter titled “The ‘Hood is Good” Desmond blithely accepts Sherrena’s boast that she has a net worth of $2 million and nets $10,000 a month in rental income. Desmond is honest in portraying the many difficulties Sherrena has in collecting rent from her struggling tenants but he doesn’t do the background research (available from local court records) about the many thousands of dollars in unpaid rents and damaged units which sort of cut into profits a little bit.
As to her supposed net worth of $2 million, that averages out to $111,000 for each of these 18 ghetto properties – certainly far more than some of the real dumpy ones are worth – but the author does not research the amounts of the recorded mortgages against these properties (ranging between $64,000 and $119,200) which further greatly reduce the claimed net worth. That would have been revealed in the many foreclosures filed against Sherrena’s properties which started within a year after Desmond’s visit to Milwaukee.”
