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- Sharon L. Lechter is a wife and mother of three, CPA, consultant to the toy and publishing industries and business owner. As co-oauthor of RICH DAD, POOR DAD and THE CASHFLOW QUADRANT, she now focuses her efforts in helping to create educational tools for anyone interested in bettering their own financial education."
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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
987 of 1,069 people found the following review helpful:
5.0 out of 5 stars
Financial Literacy 101,
By barry kaufman (Mishawaka, IN) - 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)
Where do you learn about money? School? No! Too busy memerizing war dates. Parents? Possibly, but not likely.If you dislike this book you have probably bought into the Great American Lie of go to school, get a job and after 40 years you get a gold watch. And you are in rat race my friend.I have a gold watch already. It says to Barry Kaufman the greatest guy in the world from Barry Kaufman the greatest guy in the world. I didn't have to wait 40 years for mine or sell my soul to corporate America for a little cup of soup (called wages)I also suggest reading Who Stole the American Dream, Wave 4 and Turner, Turner, Turner: The King of Network Marketing.
256 of 273 people found the following review helpful:
5.0 out of 5 stars
Definitely NOT for Teenagers,
By A Customer
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)
If some adults can't understand this great work by Kiyosaki, how can we expect our teenagers to understand it?No, instead, I would recommend Rich Dad's Rich Kid Smart Kid and then move them up to Rich Dad Poor Dad and Rich Dad's Success Stories after that. Great to see the the Rich Dad books are still best sellers and that intelligent people are NOT taking that single one star basher too seriously. Poor guy must have a very boring life!
501 of 540 people found the following review helpful:
5.0 out of 5 stars
Why listen to Kiyosaki and add to his wealth?,
By Terry Masterson (Lockhart, Fl) - 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)
Best way to answer that is with another question. What is your net worth and how does that compare to what Mr. Kiyosaki is worth? Here is another question. How does your net worth compare to the many successful Kiyosaki students?
Less than 2% of people in America are doing well. Less than 2% in the richest country in the world! It pays to listen to someone like Robert Kiyosaki.
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