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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
46 of 51 people found the following review helpful:
5.0 out of 5 stars
Excellent Reading for Real Estate Investors,
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Amazon Verified Purchase(What's this?)
This review is from: The Real Book of Real Estate: Real Experts. Real Stories. Real Life. (Paperback)
This book is worth it's weight in gold! I've liked all of Kiyosaki's books and courses but this one really stands out. Mr. Kiyosaki has brought together some brilliant minds and what they wrote is easy to understand and makes absolute sense. As an investor specializing in lease options, I tried to do it all on my own and got 4 contracts but then they were not with motivated sellers. While reading this book, it became very clear to me the importance of having a team of people to help you out. My biggest take away is "Investing is a team sport." Yes, I know that's a 'no-brainer' but now I truly realize what he and the others who contributed are trying to say in this volume. Lately, I've switched over to specializing in tax deeds and liens and the chapter on lien investing by Mr. Wheelright is very good - he makes it very simple and easy to understand. I highly recommend this book. It is in the top 3 books on real estate investing that I've ever read, and I'm a book and seminar junkie. Get this book today!!
29 of 34 people found the following review helpful:
3.0 out of 5 stars
Very Repetitive,
By
This review is from: The Real Book of Real Estate (Kindle Edition)
Theres alot of information in this book in regards to RE, but most of it is geared towards Commercial RE as opposed to Residential RE. Being that this book is a compilation of 22 different people, it will repeat itself more than once. So I would recommend it for the info just be prepared for repetition.
21 of 25 people found the following review helpful:
4.0 out of 5 stars
Good Tip book from a group of real estate professionals,
This review is from: The Real Book of Real Estate: Real Experts. Real Stories. Real Life. (Paperback)
If you want to gain some insights from real estate professionals do check out this book. It is like a tip book from a group of real estate professionals (investors, lawyers, accountants...) on their top past mistakes or right things they did. Learned couple of new ways to invest in real estate.
If you are just getting into real estate investing, first go read something from Ken McElroy, his books are more hands on.
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