Tuesday, January 19, 2010

Real Estate makes one rich...

Real Estate is a tool that many have used to become wealthy, but just as many if not more have become impoverished by investing in Real Estate. Hence the need for a high 'Real Estate IQ.' It is not hard to go and buy a piece of property in the United States. The hard part comes in determining the strategy in which you plan on making money doing so.

I have begun reading the book entitled, "The Richest Man In Babylon." The whole premise of the book is a character, who after squandering all the money he has earned, asks the Gods why he is poor. The answer is simple, but elusive to the average man, as he is. That answer lie in his tactics or in other words, strategy. You have to have a plan to not only make money, as he did making chariots, but also creating ways that your money will create new wealth. Literally anyone can go out and create money by the capabilities and talents they possess. The difference is within those who than take that money and spend it frivolously or reinvest in something to create additional sources of cash flow.

Real Estate is by far one of the best ways to do this, but without having the grand 'strategy' we need, you may as well sit on a wall and complain.

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