The Rich Dad Real Estate Summit 2009

How to find and analyze great investment opportunities in this economic climate.

Great investments are made when you buy…not sell. This is the time to be buying. To achieve success in real estate you have to know how to find great investments, analyze, finance, and manage property. That kind of knowledge isn’t inherent – it has to be learned. Develop your inner real estate genius at the Rich Dad Annual Real Estate Summit.

Regardless of whether you are an expert or just beginning in real estate, this event is for you. This event is exclusively designed for investors looking for long-term, positive cash flow.

Call it journalism, or call it joblessness or just plain curiosity, but in the past two weeks, I went to two free “workshops” on Real Estate investing – one by the Rich Dad, Poor Dad author Robert Kiyosaki’s team, and one by Donald Trump’s team. Having time in the middle of the day means that I can attend programs that I wouldn’t be able to, if I was busy at work.

I claim it was journalistic purposes because I have no interest in being a real estate investor whatsoever. I don’t even own a primary residence. But I went because I was very curious about the people who attend these seminars (in the middle of weekdays) and I wanted to study the presenters and hey, it was free.

These were both 90 minute sessions, and as I learned the main intent of these workshops was to get people to sign up for 2 and 3 day advanced seminars, where they teach you lots of Real Estate techniques in great detail.

Here are some of my impressions and notes from the free pre-class:

• Behold the power of Branding. Thanks to the popularity of TV shows (The Apprentice) and books, people like Donald Trump and Robert Kiyosaki have become household names. They are able to capitalize on that by essentially franchising themselves. Trump’s is called Trump U., and Kiyosaki markets it as “Rich Dad Education.”

• Though it is not the intent, you can learn a lot about good presentation techniques by studying these presenters. Their task is to take disbelievers (who are most likely not economically well off and quite possibly unemployed) and try to sell them expensive course packages. The presenters were without exception great sales people.

• One clever technique I saw was to ask everyone to hold all the questions till the end. This is because they don’t want disbelievers disrupting the sales pitch, casting doubts.

• They will repeatedly make fun of anyone who has any doubts whatsoever.

• These folks must have all gone to the same NLP techniques class, because they all use it. Programming the audience first and then repeatedly making them shout out the same words and phrases over and over again. “Because I am going to help you make what?” and the real estate market has been really going where? and so on. (Correct responses: “Lots of money” and “Down”)

• They will pretend to get very angry when the audience doesn’t respond to moronic questions. “So does working for only 4 hours a week sound good to you?” “Would you like to make $20,000 on your very first deal?” (Hint: You are supposed to scream your Yes very loudly.)

• They make fun of books and CD’s that you see on late-night TV infomericals, and yet they try to tempt you with books that you absolutely must own and will get only if you attend the 3 day seminar.

I am really not knocking these multi-day seminars. They might be just the thing for people who have the willingness, but not the know-how. I approve of a lot of what they say – yes Knowledge is very important, and yes everyone has to take action if they are serious about improving their lot in life. I know that these Real Estate techniques (pre-foreclosure, short sales etc.) do work for some, and that the fees for these 2 and 3 day classes will pay for themselves for some people.

I just don’t approve of how easy they make it sound.

In his Rich Dad book series, Robert Kiyosaki trumpets the benefits of investing, especially those of real estate investing. Those include tax benefits, and the ability to have your money go to work for you without your lifting a finger. It sounds wonderful, doesn’t it? The idea that you can turn a dollar into two just by placing it in what can seem like a magical realm can seem very enticing.

In order to actually turn a good idea into money in your bank account, however, you have to know a little something about how the magic works. It is a good idea, for instance, to take apart this term “real estate.” Just what is real estate, and what are the types of real estate investing that are open to you?

“Real estate” is a term that refers to a piece of land and everything that sits on it, usually meaning structures. In terms of investment, its value is affected by local market conditions more than global conditions. There are several different ways to invest in real estate.

Real Estate Investment Trusts (REITs) allow you to make money by investing in real estate, either by owning the properties themselves or by owning the mortgages on them, or to do a combination of both. The benefits of this type of investing are high yields and tax considerations. This is also a highly liquid type of investing, which means that it is easily converted to cash.

In a real estate partnership, you are pairing with (who or what?) in order to make money from existing structures or to build new ones. You can even make money off the sheer appreciation of undeveloped land itself. This is a good bet because of high growth potential and tax benefits (shelter).

The rental of vacation property is pretty self-explanatory. Your vacation property is one that is used for recreational purposes and is not your primary residence. (Define primary residence.)

Rental property is another almost self-explanatory concept, as we have all done business with landlords at some point in our lives. However, there may be a difference between residential and business rental property.

You may also invest in raw, or undeveloped, land.

It is a good idea to learn about each type of real estate investment to determine which yields the greatest benefits, determined by your particular needs. Kiyosaki named tax benefits as a good reason to become a real estate investor. After all, money you keep in your pocket is just as good as money earned.

If you are particularly interested in pursuing real estate investment because of tax benefits, you may even wish to become a real estate professional, as the IRS allows people who spend at least 750 hours a year to have nearly unlimited tax deductions. If you are not considered a professional, and your salary is high, that can actually cost you deductions on your real estate. You must have the time to participate in your real estate activities yourself, even if you have hired another real estate professional, to qualify for all tax benefits.

Alex Anderson

http://www.articlesbase.com/real-estate-articles/real-estate-investing-which-approach-is-right-for-you-124853.html

See the original post here:
Real Estate Investing – Which Approach Is Right For You?

What exactly is it that separates the wealthy from the rest of us? This is an essential question that isn’t asked nearly often enough. On first considering the question, you may be tempted to give answers such as, “Having wealthy parents” or “Winning the lottery” or even “Working at a cushy, high-paying job.” Indeed, anyone in any of the aforementioned circumstances can count his or herself among the very lucky.
 

Unfortunately for these people, however, being lucky isn’t all it takes to become rich. Robert Kiyosaki, author of the best-selling Rich Dad, Poor Dad books claims that being rich has more to do with how much money you hold on to than how much money you have coming in.

Kiyosaki’s father, the so-called “Poor Dad,” is a great example of a well educated man blessed with a great career who was nonetheless poor, because he couldn’t seem to keep any of the money he was earning.

The good news for you, is that becoming rich has less to do with external factors like your job or whether you were born a Rockefeller, which you can’t control, and more to do with internal factors which you can.

Whether you ever become rich or not is determined, in large part, by nothing more than how you think.

Kiyosaki’s “Rich Dad” used a graph entitled the Cash Flow Quadrant to explain this principle, separating people into four groups. ‘E’s and ‘S’s, or employees and those who are self-employed, occupy one half of the graph. ‘B’s and ‘I’s, or businesspeople and investors were on the other. Robert Kiyosaki claimed that, in addition to representing the source of a person’s cash flow, these categories served as a window into how different type of people think about money.

Furthermore, Kiyosaki explains, individuals don’t land in one quadrant or another by a roll of the dice.

According to Kiyosaki, the people who fit into these four categories are fundamentally different in their thoughts and emotions, and these essential differences drive individuals to behave differently towards their money.

What’s more, Kiyosaki says, it is that emotional difference that determines to which quadrant a person is drawn. And, he says, you can always tell which quadrant a person is coming from simply by listening to what they say. If you hear a person talking primarily about their benefits and job security, then that person is coming from Kiyosaki’s E or employee quadrant. He also goes on to say that it is perfectly all right to live your life in the E quadrant if security is indeed the most important thing to you. But, he adds, the E quadrant is the most difficult quadrant from which to become rich.

Though the revelation that wealth simply depends on your attitude and personality may initially seem rather intimidating, you should take it as encouragement. Even if you don’t see yourself as a lucky person right now, rest assured that you can, if you have the drive, become wealthy.

Real estate is a great place to start for prospective investors; it’s what made “Rich Dad” rich in the first place! In order to become a real estate investor and start building your fortune, all you have to do is make a decision to stop working for a paycheck, and put your paycheck to work for you.

Read more:
When You Think Real Estate, You Think Rich

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