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FIB - Scams 101 - Ye Olde Archives
Posted By: Larry Foster In Response To: Re: I disagree, as usual. (Cathy)
Tuesday, 17 May 2005, at 2:19 p.m.
Now that you go into detail like you did, it's pretty hard to disagree. It sounds like you may have read Robert Kiyosaki. Love him but I don't do real estate his way.
Since I'm responding only to this recent post and not to your original post, I can't remember what I disagreed with, but I think you're 100% spot on here.
.> Do I think you should give up your day job...no...I view real estate as
> one thing that I am doing in my investment portfolio. I also invest in
> stocks, income trusts, and businesses. Real estate is an excellent hard
> asset to have in your portfolio.
> As for the Guru I alluded to but didn't name..no it was not whitney. It
> was Robert Allen. As I said I don't regret linking up with his program as
> I have learned tons..I do think it is expensive and not all things applied
> to my local area which is why I recommend joining a local real estate
> investment club as they usually have courses you can take for much cheaper
> and then augment your knowledge with books from the library. As for
> stating that there are people in these clubs which will rip you
> off...There are sharks anywhere......but that is why you have a brain and
> why you must do your own due diligence on any deal. You need to research
> the area you are wanting to invest in and find out comparables for houses
> in that area so you have some info as to whether the property's price is
> realistic or not (I don't buy retail however). And do not do any deal
> using your emotions.....if the numbers don't work don't do it no matter
> how good someone tells you the deal is or how "great" the house
> seems.
> Someone else mentioned real estate agents.....there are VERY FEW good ones
> out there that undesrstans some of the financing deals that investors want
> to do. There are some good ones..but you need to find ones that deal with
> investors exclusively. I prefer dealing with owners directly.
> The real estate investing area is huge...I only touched then iceberg of
> what you can do in this area...and not all types of investing in this
> field is suited to everyone..thats why you need to do some research and
> reading to see what strategy suits you personally and your circumstances.
> Regardless of these caveats...I still think (and know personally) that
> real estate is an excellent investment vehicle and worth taking a look
> at.....but learn to only make decisions on the numbers and with your head.
> The biggest mistake is people who make gut decisions in this
> business...which brings me to my last point...It IS a business so treat it
> as such. Every decision you make in this field if you want to continue
> exploring this IS a business decision.
> So..what exactly did you disagree with?
> I can't tell you about mentoring packages but personally if the name
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