First of all, I have a confession. I was involved in so many writing projects this past year that I've forgotten what exactly I said in which book. My latest book with New York Times best-selling author Dolf de Roos, "The Insider's Guide to Making Money in Real Estate," comes out in two weeks. I remember when we wrote the book that we struggled to make sure the information was fresh and included real, concrete strategies for the investor who was ready to make some serious money in real estate. Wow! I went back through the book today and I was astounded again at some of the insights that came to us as we wrote the book.
One chapter deals with the five fundamental wealth-building strategies of real estate. The Insider's Guide to Making Money in Real Estate even includes tests that measure how well you are currently using these strategies in your own wealth-building plan.
One of the five fundamental wealth-building strategies is leverage of money. What is your current comfort level with the leverage of money? Here are a few of the questions from this part of the book:
(1) When it comes to credit cards,
(2) I feel secure when I:
(3) The bank calls you and tells
you that you are eligible for a home equity loan on your house, you:
(4) The safest place to keep your
(5) Regarding the five baskets of
money: security, emergency, income, growth and high risk, you:
Leverage of money can work for you or against you. That's the difference between good debt and bad debt and understanding the basics of financial planning for real estate investors.
The second wealth-building strategy is understanding the leverage of time. There are five leverage points for this second strategy. They are: knowledge, systems, other people's time, other people's knowledge and other people's systems. When you understand and fully utilize these five leverage points, you can create the lifestyle, along with the income, that you want.
How well do you handle the leverage of time? Here are a few of the questions from The Insider's Guide to Making Money in Real Estate:
1) A system is defined as something
that you could give to a reasonably skilled person and after one day or less
of instruction, could then turn the task over to them. How many systems have
you created and implemented in your own business or real estate investing?
2) How much of your work time do
you spend on things that you truly love and that give you energy?
3) What is your first thought when
someone suggests adding an expert to your team?
4) The best deal I've ever done in
5) I spend most of my time on:
In a second, I'll tell you about the three remaining wealth-building strategies for real estate investing. First, though, I want to tell you about a special deal that we're only offering for the first 75 people who respond. You might remember the last time we did a special deal for just the first 20 people who responded. It sold out before we had even finished sending the whole email out. In fact, we couldn't pull it off of our Web site fast enough and ended up having to refund money to over 120 people. I didn't want a repeat of that, so we've upped the number that can qualify for this. But, the fact is that last time over 140 people responded to our offer before we could get it off the Web site. This time it's only for the first 75 people. Please do not hesitate if you are serious about your real estate investing career. Go to http://www.TaxLoopholes.com/s/HSP75 for this special deal.
For the first 75 people ONLY we are reducing the price of the Real Estate Home Study Program, a best-seller at $799, to just $649. That's a savings of $150. PLUS we'll include a copy of our brand new book, "The Insider's Guide to Making Money in Real Estate." Please note that the product will not ship until 4/7. These are PRE-ORDERS for the first 75 people only. As soon as those first 75 copies are sold, this offer will no longer be available. Go to http://www.TaxLoopholes.com/s/HSP75 today if you're serious about building and protecting your wealth from real estate.
The third wealth-building strategy is velocity. We have a way to calculate that as well in The Insider's Guide to Making Money in Real Estate. In fact, you'll find your answer will be somewhere between one and nine. The fastest velocity is 9, the slowest is 1. As you begin investing in real estate, it's often best to start with a slow velocity. You might want to ensure cash flow by putting more money down and by being very careful with your other sources of debt or income. Additionally, it might be a good idea to also do many of the tasks of renovating and leasing your property in the beginning. This will give you experience that will be helpful as you develop systems and begin working with professionals.
But, if you have a low velocity and you're not a brand new investor, consider pushing outside your box a little. The higher the velocity, the more potential wealth you can create for yourself, your family, and your community.
The fourth wealth-building strategy is cash flow. We have a lot to say about cash flow and ways to maximize it. Cash flow is fundamental. It's the lifeblood of your investments. Without cash, your empire crumbles.
The fifth wealth-building strategy is risk reduction. That's where the Real Estate Home Study Course is especially important.
As soon as you start making money, you have risk from excess tax. You have risk of an IRS audit. And, you have risk from lawsuits. You will likely spend hundreds of thousands of your money and the bank's money on your property. Learn how to protect against all these risks for just $649 (ONLY for the first 75 to take me up on this offer) PLUS get a copy of Dolf's and my new book, "The Insider's Guide to Making Money in Real Estate." Go to http://www.TaxLoopholes.com/s/HSP75 right now to make sure you're one of the first 75 to receive this vital information for real estate investors. You'll save $150 plus you'll get a copy of our new book.
In future editions of the Loopholes
Update I'll share more of the insights I got from writing The Insider's Guide
to Making Money in Real Estate, such as:
Best of luck in your investing!
P.S. If you're ready to learn more about what it really takes to make money in real estate plus learn how to protect your real estate investments from the risk of an IRS audit, frivolous lawsuits, and excess tax AND save money doing so, then go to http://www.TaxLoopholes.com/s/HSP75 right now and say you want to be one of those first 75 to get the special package.