Real Estate Gurus - What Can They Teach You?

2007-09-06 Word Count: 645 Category: Real Estate

Names like Robert Kiyosaki, Ken McElroy and Donald Trump tend to make it into our pop-culture. Even people who don't exactly know Robert Kiyosaki's name recognize “the Rich Dad, Poor Dad” book-series. But Donald Trump? Everybody knows of him. They know he owns a LOT of real estate. People don’t understand, however, how much they are similar to someone like Mr.Trump or Mr. Kiyosaki.

The main difference between people like Donald Trump and the average person is that he has made the time to study and learn about buying investment property. Of course, Rich Dad may have grown up dabbling in the various parts of real estate, just as another kid may have grown up investigating the various parts of baseball or perhaps his favorite genre of music. These gurus realized that learning about real estate investing 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 take action.

The Rich Dad series helps you do just that.

You must learn the actions of buying real estate as an investment property, a how the whole thing works. You need to understand that it is necessary 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 accountant and your attorney. After learning how to read the language of real estate, so to speak, it is then time to learn about the markets. It is very important that you learn how to research and keep abreast of the real estate markets that hold your interest.

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 savvy investor gets this info by making sure to inspect the potential investment his or herself, and by taking along the appropriate member(s) of the team of experts he will have hired. This team are your “extra sensory receptors”. They will see the things that you may miss and they will give you valuable advice.

The newbie 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 real estate investing gurus know. It is a process that they have mastered. Of course, they have been through that process so many times that it has become automatic for them. But it is something that you can learn as well.

And that is the main difference between the gurus and someone like you is that the gurus understand how do-able a thing investing in real estate actually is.

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 series, he writes that his father was an extremely book-smart 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 future lay ahead for him if he was willing to buy investment property. He took this advice from his “rich dad” to heart and began the process of learning.

He is still growing today. All the teachers are, because property investing is an ever-changing discipline. The markets are constantly fluctuating, and tend not to stay put. All it takes to become wealthy is to simply sit down and learn how it is done. All you need is the will to study.

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