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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.
I really think the reader from Chicago is missing the point. The fact is more wealth has been made in real estate than in any other venture. No other business or investment can compare. Writing books? C'mon now! Do you have any idea on how many books get turned down each year? And of those that are published, how many do you suppose really make any real money?
Many of Kiyosaki's critics have been asking for evidence that his strategies work. Well here it is in Real Life Success Stories from Real Life People who followed the Rich Dad lessons.
Like it or not, this is how "Real People" are making "Real Money" in Real Estate.
Perhaps in some future volume, Kiyosaki will profile business success stories and I look forward to those as well. But for the masses, Real Estate is the key.
Good book Mr. Kiyosaki but I doubt this will silence your critics----too bad for them!
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