The final law sums up the other four:
"Gold flees the man who would force it to impossible earnings or who followeth the alluring advice of trickster and schemers or who trust it to his own inexperience and romantic desires in investment." The Richest Man in Babylon
Tuesday, February 23, 2010
Monday, February 22, 2010
Great Article about buying a home...
10 Rookie Home buyer Mistakes
I read this and thought I had to share it with everyone, what a great list to generate of things to consider, I agree with the author 100%.
Enjoy,
Geoff Dearing
www.ReturnRealEstate.com
I read this and thought I had to share it with everyone, what a great list to generate of things to consider, I agree with the author 100%.
Enjoy,
Geoff Dearing
www.ReturnRealEstate.com
Thursday, February 18, 2010
Why not to take advice from a bank rep...
I was in a local branch of a national bank today and I could not help but overhear the advice that the 'financial expert' was giving to a customer.
The first thing that bothered me was the voice level this rep. was using. I could hear the entire conversation from across the building. For starters, The person he was speaking to must have thought he was angry at them. I have never enjoyed taking advice from someone screaming at me, let alone someone who knows absolutely nothing about what he is talking about.
This bank rep. then proceeds to tell this person that the bank Mutual Fund was the best place for the customer to put their money. Using arguments like, "the stock market is still down 4000 points from where it was, it is going to come back" and "this stock has an average return of 6% since 2001, it is a safe investment." Don't get me wrong, I do believe the stock market could quite possibly return to it's former glory, but predicting when this will happen is impossible to know. This gentleman was acting like he knew exactly what was going to happen and insisted that the customer place his hard earned money in their hands.
What bothered me the most about this situation was the way in which this rep. acted that there was only one option for this person he was helping. It also bothered me how this person seemed to be eating it up without giving any thought to who he was speaking to.
The bottom line is you should not listen to investment advice from a CLERK making 10 dollars an hour. The only motivation they have is the commission they will make from placing you in that investment. As I was walking out I heard him say that he just bought a motorcycle and got a loan to do it! I wonder what was motivating him that day?!
Be Careful who you take advice from,
To your success,
Geoff Dearing
The first thing that bothered me was the voice level this rep. was using. I could hear the entire conversation from across the building. For starters, The person he was speaking to must have thought he was angry at them. I have never enjoyed taking advice from someone screaming at me, let alone someone who knows absolutely nothing about what he is talking about.
This bank rep. then proceeds to tell this person that the bank Mutual Fund was the best place for the customer to put their money. Using arguments like, "the stock market is still down 4000 points from where it was, it is going to come back" and "this stock has an average return of 6% since 2001, it is a safe investment." Don't get me wrong, I do believe the stock market could quite possibly return to it's former glory, but predicting when this will happen is impossible to know. This gentleman was acting like he knew exactly what was going to happen and insisted that the customer place his hard earned money in their hands.
What bothered me the most about this situation was the way in which this rep. acted that there was only one option for this person he was helping. It also bothered me how this person seemed to be eating it up without giving any thought to who he was speaking to.
The bottom line is you should not listen to investment advice from a CLERK making 10 dollars an hour. The only motivation they have is the commission they will make from placing you in that investment. As I was walking out I heard him say that he just bought a motorcycle and got a loan to do it! I wonder what was motivating him that day?!
Be Careful who you take advice from,
To your success,
Geoff Dearing
Wednesday, February 17, 2010
The Five Laws of Gold: Law #4
"Gold slippeth away from the man who invests it in businesses or purposes with which he is not familiar or which are not approved by those skilled in its keep." -The Richest Man in Babylon
We better understand the basics of what we are investing in. I have seen people put money in things they were not familiar with and lose it. Fortunes, both large and small have been lost in this manner.
This is why education is such a basic, yet necessary aspect of any new endeavor. I spent nearly a year researching and learning before I ever made my first real estate purchase. To this day I don't approach anything without having a team together that can advise me on what to consider, even in a new real estate transaction.
I hope people are taking something away from these laws, as they are literally ancient principles, although the author is not.
To your success,
Geoff Dearing
http://www.ReturnRealEstate.com
We better understand the basics of what we are investing in. I have seen people put money in things they were not familiar with and lose it. Fortunes, both large and small have been lost in this manner.
This is why education is such a basic, yet necessary aspect of any new endeavor. I spent nearly a year researching and learning before I ever made my first real estate purchase. To this day I don't approach anything without having a team together that can advise me on what to consider, even in a new real estate transaction.
I hope people are taking something away from these laws, as they are literally ancient principles, although the author is not.
To your success,
Geoff Dearing
http://www.ReturnRealEstate.com
Thursday, February 11, 2010
The Five Laws of Gold: Law 3
"Gold clingeth to the protection of the cautious owner who invest it under the advice of men wise in its handling." -Richest Man in Babylon
This law is very complicated, although simple in principle. Most people believe that they are going to a professional when they have their taxes done, visit a financial planner, invest with a real estate group, or a myriad of other activities. How much homework are they actually doing before they invest with these groups?
Most people don't put nearly enough thought into this process before making such an important decision. I have to say your cousin, the financial planner, may not be the best choice for such financial decisions.
I encourage you all to take a closer look at what you are doing in your investments and decide if the person you are working with is a 'wise person' as this rule talks about. If you are giving your money to fools, you are going to lose it quickly.
Geoff Dearing
www.ReturnRealEstate.com
This law is very complicated, although simple in principle. Most people believe that they are going to a professional when they have their taxes done, visit a financial planner, invest with a real estate group, or a myriad of other activities. How much homework are they actually doing before they invest with these groups?
Most people don't put nearly enough thought into this process before making such an important decision. I have to say your cousin, the financial planner, may not be the best choice for such financial decisions.
I encourage you all to take a closer look at what you are doing in your investments and decide if the person you are working with is a 'wise person' as this rule talks about. If you are giving your money to fools, you are going to lose it quickly.
Geoff Dearing
www.ReturnRealEstate.com
Friday, February 5, 2010
Law of Gold #2 Continued
I realize I said Wednesday, but the week got away from me.
Here is the second law of Gold again as a reminder:
"Gold laboreth diligently and contentedly for the wise owner who finds for it profitable employment, multiplying even as the flocks of the field."
When I first read this I could tell that many people would think, 'how can gold be employed?'
It is a simple meaning of the word 'employ' that will help us make sense of the phrase. In other words, We are putting our money to work for us.
There are many forms of getting your money to work for you. These can include savings plans, venture capital, hard money lending, note brokering, real estate investing, stock trading, and commodity trading. I specifically like real estate because of the predictability and stability that rental property provides with the right knowledge.
Getting your money to work for you is a key to success no one can do without.
Here is the second law of Gold again as a reminder:
"Gold laboreth diligently and contentedly for the wise owner who finds for it profitable employment, multiplying even as the flocks of the field."
When I first read this I could tell that many people would think, 'how can gold be employed?'
It is a simple meaning of the word 'employ' that will help us make sense of the phrase. In other words, We are putting our money to work for us.
There are many forms of getting your money to work for you. These can include savings plans, venture capital, hard money lending, note brokering, real estate investing, stock trading, and commodity trading. I specifically like real estate because of the predictability and stability that rental property provides with the right knowledge.
Getting your money to work for you is a key to success no one can do without.
Monday, February 1, 2010
The Five Laws of Gold: Law #2
"Gold laboreth diligently and contentedly for the wise owner who finds for it profitable employment, multiplying even as the flocks of the field." -The Richest Man In Babylon.
What do you think the author is saying with this law?
I will elaborate my thoughts on Wednesday, I want to hear what you all have to say about it first!
What do you think the author is saying with this law?
I will elaborate my thoughts on Wednesday, I want to hear what you all have to say about it first!
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