Robert Kiyosaki Blog

Financial Education Portal inspired by Robert Kiyosaki

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Small Deal / Cash Flow Deal

Jeff Howard of Cape Cod AREI and a partner are looking for $25K to help them refinance a great 2-family property on the beach in Marshfield, MA. To facilitate this, they are looking to get another 5% cash to bring their LTV to 75% because of the changing mortgage landscape. As always, do your own do diligence. You can lend as little as $50 and you’d get paid 18.26% APR on this! Prosper does all the tracking and collects a small amount of your earnings as a fee. When you set up as a lender using the link below, you get paid $25 just for funding your first loan! If you lend $50 to Jeff, if the loan goes full term, you’ll make $14.33 on your $50 while your principle is being returned monthly! 43% is a spectacular CCR. So check it out. You might just find this a vehicle that helps. Need to borrow? Give Prosper a try! Rates start at 7% and go up to 29%. You create a request to borrow, set your rate and lenders try to fund you. Be reasonable and you should get your listing funded. Small Deal / Cash Flow Deal Share and...

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Self-employed in the Rat Race

For a while now, we’ve been talking about adding a house rule that allows someone in the Rat Race to leave their job and become a full-time real estate investor. If you’ve been around real estate investment clubs for any length of time, you’ve met someone who’s done this. Starting with the game on Saturday, October 20th 2007, we’ve finally pulled the trigger on this rule. Essentially, when you are down-sized, you can choose to go to work for yourself if you like. Instead of waiting two turns to get a new job, you pay your expenses and roll normally on your next turn if you want. Your income is limited now to your passive income. Pay close attention as you play or you will be bankrupt! If land on down-sized again, you roll one die. Role a 3 or less: the space acts as a another pay check. Essential, as a self-employed person, you control your destiny and work life. You take a month off, you can even if it’s not always the most wise thing to do. And lose a turn. Role a 4 or higher: there is an economic downturn and your passive income cuts in half for 3 pay checks. But you don’t lose a turn. If you choose to wait two turns and get another job, everything is the same. View original post here: Self-employed in the Rat Race Share and...

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Jim Cramer: Cash is king

Tonight, on “Mad Money”, Jim Cramer said “cash is king”. I know it’s not the first time he’s made this pronouncement and he was talking about stock portfolios. He says that if you have only 5% cash in your portfolio, you are maxed out. He recommended keeping at 10% cash portfolio with a strategy of taking some gains off of the table (he calls it “schnitzel”), even if that means you raise your cash position to 40%. He talked about making this mistake himself in the past. I think this applies to real estate also. I know I’ve made this mistake before and I’ll bet most real estate investors have too. Read the original: Jim Cramer: Cash is king Share and...

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Real estate tools

I’m pretty sure that everyone reading this blog is trying to escape the rat race. We need tools to do that so to help you evaluate real estate, I’ve posted some mortgage calculators at Beko Investments. So now you all have access to this kind of tool and don’t have to go searching for them. I still prefer a good old financial calculator (link to come so you can buy one) but they aren’t always with you. So check these omortgage calculators out. Source:Real estate tools Share and...

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Top Tips For Taking Control of Your Financial Future

1. To get where you want to go, you need to know where you are. Complete your own financial statement. This is your first step in taking control of your financial future. How much passive income do you have today? 2. Pay yourself first. Put aside a set percentage from each paycheck or each payment you receive from other sources. Deposit that money into an investment savings account. Once your money goes into the account, NEVER take it out, until you are ready to invest it. 3. Look for real estate "for sale" signs in your area. Call on three or four and ask the brokers to tell you about the properties. Find a real estate investor (mentor) and ask them to visit a property with you to tell you what to look for. 4. Attend business opportunity conventions or trade expos. See what franchise or business systems are available in your area. 5. Who you spend your time with is your future. Surround yourself with people who will support you, not discourage you. 6. TAKE ACTION! Put a little money down. Start small. It’s amazing how quickly you learn when you have real money in the deal. Make mistakes, learn from them, and then take action again! 7. Set a long-term financial goal for where you want to be in five years. Also set a smaller short-term goal for where you want to be in twelve months. Passive income is the key. 8. How do you spend your spare time? Commit five hours of your time each week to do one of the following: – Read the business page and The Wall Street Journal – Read financial magazines and newsletters – Listen to the financial news on television or radio – Listen to educational material on investing and financial education – Play CASHFLOW® 101 9. Meet with a business broker to see what existing businesses are for sale in your area. It is amazing what you can learn by just asking questions and listening 10. Find people in your area to play CASHFLOW® with or create your own circle. Visit RichDad.com and click on CASHFLOW CIRCLES in the Message Forum to find people in your area who play CASHFLOW® 101 11. Join Rich Dad’s INSIDERS! Plot your own course to financial freedom and surround yourself with people who will support you every step of the way! 12. TAKE ACTION! Start small, learn from our investing mistakes, and continue your financial education. Share and...

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Congratulations and Welcome to the Rat Race!

For Millions of People, Graduation Means Joining the Rat Race 1.3 million college graduates will exit academia for the work force this year, armed with a sheepskin and laden with debt. This debt, $22,221 on average… as reported by Student Monitor LLC, a leading market research firm, represents both credit card debt and student loans. Debt that, according to that company’s survey stats, will take eight years to pay off. And, in most cases, there’s more where that came form. It’ll take the shape of car loans, revolving credit and even mortgages.  In Rich Dad’s world, the Rat Race is that vicious cycle of living paycheck to paycheck… and the conventional wisdom that getting a good education, good grades and a safe, secure job (with “good benefits”) will lead  to “the good life.” Or, at least, a steady pay check so that there’s money to make monthly payments on expenses and debt.  These new grads are in good company: millions of Americans contribute their fair share to the $100+ billions in credit card debt ($46.6 billion with Capital One Financial alone) in the US. Debt that, in many cases, will take decades to pay off.  Nearly 90% of college grads surveyed in 2004* reported that they were “prepared” for the responsibility of credit cards… over half (56%) of them didn’t know the APR (annual percentage rate of interest) on those cards. In this case, ignorance may not be bliss.  So what is Rich Dad’s answer to the Rat Race dilemma so prevalent in our society? That’s easy: Financial Education. And we’re not alone in that mission. In mid-April of 2005, the Federal Reserve unveiled a new website that Fed chairman Alan Greenspan calls “an online tool that offers students easier access to a wealth of information in the areas of economics, banking and financial services.”  In 2002, Greenspan was quoted as saying that a good foundation in math would improve financial literacy and “help prevent younger people from making poor financial decisions that can take years to overcome.” He added, “People need to be able to read, write and speak basic financial concepts in order to make informed investment decisions.”  “The challenges Americans face – with social security, consumer debt, bankruptcy law changes, and retirement planning – don’t begin at age 65. They begin at age five, when kids enter school.”   – Robert Kiyosaki  Sources: Student Monitor research; MBNA and Capital One Financial reports; The New York Times Lessons for Graduates:  1. Work to learn… not to earn Sometimes a pay check is less important than the lessons you get from working. 2. Who’s giving you advice? Most people...

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