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Questions from Readers for Robert T. Kiyosaki
Hello and thank you for the question, I want to start off by saying that this is your life, your money and your decision. Asking for advice is good, but you must do your own research and ultimately make the decision. While one great advantage for real estate in the US is the 1031 exchange, it is certainly not the only advantage. Real estate generally has many tax and legal advantages. It also has the ability for one to take on great debt, have someone else (your tenants) pay off your debt while you keep the asset. I do not know the taxes or laws in Bangkok, but I would take the time to get educated about them to know if investing there is good for you. The idea of your turning over your hard earned money and giving it to someone else is the mindset that has eroded our society. It is a lazy mindset and one that refuses to take responsibility. If you do not know what to due with your money, then find out! Look at the four assets (commodities, paper, real estate and business) find out what interest you, get educated, build a team and take control of your future. It sounds like you have the start to a good real estate team in Austin. Leading a great team is the way to wealth. From what you've written, it sounds like you are missing a good broker to bring you the deals. Ask your existing team members for recommendations. Interview until you find a broker who has access to deal flow, understands the cash flow investing mindset and who invests him/herself. Once your team is solid, you will get the deals you need and have the ability to take advantage of the laws and tax benefits to real estate. You are off to a good start. Keep getting educated and build up your team.
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Most Helpful Customer Reviews
644 of 695 people found the following review helpful:
4.0 out of 5 stars
Everyone should read this.,
This review is from: Rich Dad, Poor Dad - The Rich Teach Their Kids About Money - The Poor And Middle Class Do Not! (Paperback)
It is unfortunate that in America, the greatest nation in the free world, few people including those with high incomes understand the value of investing and the proper use of money strategies.You can live off your income, but you can't get wealthy off your income. Wealth is the result of using principles such as are in this book.I also strongly recommend "Millionaire Next Door" and for managers and leaders, read"Direct from Dell" by Michael Dell. Great books.
707 of 764 people found the following review helpful:
5.0 out of 5 stars
Great books RTK,
By We're Going Places!! (www.travelganza.gttrends.net) - See all my reviews
This review is from: Rich Dad, Poor Dad: What the Rich Teach Their Kids About Money--That the Poor and Middle Class Do Not! (Paperback)
I just purchased Rich Dad, Poor Dad, Retire Young, Retire Rich and Rich Dad's guide to investing. I also have the tapes from RD, PD, CFQ, and RDGTI. These excellent programs by RTK have already made a profound change in my personal and financial life. They are a must for anyone who wants success.Two others are Millionaire Next Door and The Millionaire Mind.
628 of 678 people found the following review helpful:
5.0 out of 5 stars
RD/PD the power of MLM????,
By Wimge (USA) - See all my reviews
This review is from: Rich Dad, Poor Dad: What the Rich Teach Their Kids About Money--That the Poor and Middle Class Do Not! (Paperback)
I have read more than a half dozen reviews (probably same person) attributing the success to Rich Dad, Poor Dad to network marketing (MLM).I don't know if there is any truth to that or not, but I sure hope so.You see, I just signed up into a MLM company (not Amway) and if MLM can turn a book into a mega best aeller like some people have indicated, then that certaintly prooves the power of network marketing.And obviously Network Marketing (MLM) is far more powerful than that cheesy, supposedly well researched (it's not) website that gets getting mentioned here or the constant barrage of 1 star bashers (really just one person with a attitude problem) and obviously more successful than the self publishing industry.Thanks to RD/PD, I have reorganized my investments, started a successful business and am sharing this info with family and friends.1 star reviewer (s), get a life already!
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