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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
13 of 14 people found the following review helpful:
5.0 out of 5 stars
Rich Dad broke the code.,
This review is from: Rich Dad's Escape from the Rat Race: How to Become a Rich Kid by Following Rich Dad's Advice (Paperback)
I ordered this book with a skeptical outlook. The other financial instruction books I purchased for my teen lasted all of ten minutes. This book arrived, she opened it, started reading, and didn't put it down until finished. She was so excited, she called me at work to tell me she had learned about assets, liabilities, expenses, and income. She said the concepts were so simple, she didn't understand why they aren't teaching this in school. Now, she's pointing out investments to me! Rich Dad actually got the attention and respect of a teenager. I'm very impressed.
13 of 16 people found the following review helpful:
5.0 out of 5 stars
Making money can be fun!,
By
This review is from: Rich Dad's Escape from the Rat Race: How to Become a Rich Kid by Following Rich Dad's Advice (Paperback)
Don't let the comic book format fool you! Money is serious business. But let's face it -- that's bor-ring! Yet Tim Turtle makes a strong case for achieving financial intelligence when he runs out of money at the amusement park. He thinks the answer to his money problems is to get a job. When Red Rat laughs at him and says he'll never get rich by working at a job, poor Tim is totally confused. But isn't that how to make money? Instead Red Rat shows him the difference between working for money and making money work for him. Based on Kiyosaki's bestselling book "Rich Dad, Poor Dad", this comic book adventure into the world of finance brings money issues to life. How to find moneymaking opportunities and create assets are explored in ways that are fun and easy to understand.
Copyright (c) 2005 by Peggy Tibbetts
7 of 8 people found the following review helpful:
5.0 out of 5 stars
Help Your Kids Save Their Pennies,
By ReadingTub Reviews (Virginia, USA) - See all my reviews
This review is from: Rich Dad's Escape from the Rat Race: How to Become a Rich Kid by Following Rich Dad's Advice (Paperback)
This is a children's comic book that presents kids with the information that goes way beyond "Save your pennies and the dollars will take care of themselves." There are also subtle lessons on values and ethics, too. It shows--pictorially, using two different styles--how a youngster can put the concepts they represent immediately to work. The book goes well beyond the "save your pennies" philosophy I was raised on. The book introduces terms that some kids never hear until they take their first economics class. I liked the presentation style that looks vaguely like a Tim Allen movie--artistic washes, subtle tones. Kids will love the brightly colored segments. More importantly--for the parents at least--they are sure to absorb some sound ideas about ensuring their own futures. The purpose of the book is clear: the sooner you learn to manage your money, the more you'll have to enjoy.
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