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Names like Robert Kiyosaki, Ken McElroy and Donald Trump tend to make it into the common language. Even people who haven’t heard Robert Kiyosaki's name recognize “the Rich Dad, Poor Dad” guy. But Trump? Everybody knows of him. They know he owns a LOT of investment properties. People don’t understand, however, how much they actually have in common with someone like ”The Donald” or Mr. Kiyosaki.
The main difference between people like Robert Kiyosaki and the average person is that he has taken the time to learn about buying investment property. Of course, Trump may have grown up dabbling in the different parts of real estate, just as another young man may have grown up investigating the various elements of baseball or perhaps his favorite style of music. These gurus realized that learning about buying real estate is a perfectly reasonable thing for a reasonably intelligent person to set out and do. All you have to do is understand what you need to know and do it.
The Rich Dad book-series helps you do just that.
You have to learn the process of buying real estate as an investment property, a how the whole thing works. You need to know that you need to learn some basic accounting and finance, and familiarize yourself with property law. You don't have to learn a lot, just enough to be conversant with your attorney and your accountant. After learning how to read the language of real estate, so to speak, it is then time to learn about the markets. It is vitally important that you learn how to study and keep on top of the investment property markets that you are interested in.
Then there is the business of the negotiation and knowing what to do to make sure that you get all the information on an investment property that you need to make an informed decision – even information that the seller may be withholding. The experienced investor gets this information by making sure to inspect the property his or herself, and by bringing along the member(s) of the team of experts he will have hired. This team are your eyes and ears. They will see the things that you may miss and they will give you valuable advice.
The new investor has to know how valuable an asset his or her team is, so he won't attempt to invest without one.
These are the things that the investment property experts know. It is a process that they have mastered. Of course, they have been through that process so many times that it has become 2nd nature for them. But it is something that almost anyone can learn.
And that is the main difference between the experts and someone like you is that the gurus understand how possible investing in real estate actually is.
Robert Kiyosaki is a man who seized an opportunity when he saw it. The son of an educator, he could have grown up believing that his destiny was to spend his life as a “wage slave”. In his Rich Dad book-series, he writes that his father was an incredibly intelligent man, but he referred to him as his “poor dad.” The opportunity Robert saw was that of listening to the wealthy father of his friend, who advised him a better financial future lay ahead for him if he simply got into real estate investing. He took this advice from his “rich dad” to heart and began studying how to do it.
He is still growing today. All the teachers are, because investing in real estate is an ever-changing endeavor. The markets are like liquid, and tend not to stay stationary. All it takes to become wealthy is to simply decide that you are going to learn how it is done. All you need is the commitment to studying. |