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Beyond Robert
T. Kiyosaki's Rich Dad, Poor Dad |
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Yes, Robert T. Kiyosaki is right in Rich Dad, Poor Dad. It is important to have
a dream and detailed, well thought out plans to accomplish that
dream. As Lao Tzu said several thousand years ago, "The
journey of ten thousand miles begins with the first step."
Rich Dad, Poor Dad cultivates the dream and helps you to plan for
the journey. Building wealth via real estate is a long term
process. Yes, some people get rich over night, but most
successful real estate investors work hard at it, have a long term
plan and stick with it. You can shorten the journey by
acquiring knowledge and expertise and by making smarter and more
profitable investment decisions. The use of investment
tools and concepts which improve the decision making process can
also shorten the journey. The savvy real estate investor
understands real estate investment terminology and uses knowledge
and experience to make better, more profitable investment decisions.
He understands important real estate concepts and ratios such as
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Depreciation, Cash flow, Leverage, Taxable Income, Appreciation,
Future Wealth / Net Worth, Capital Gains Rates, Marginal
Income Tax Rate, Operating Expense, etc.
Ratios
that Measure Profitability and Risk Assessment such as Cash on Cash
Return, Cap Rate, Internal Rate of Return, Debt Coverage Ratio,
Gross Rent Multiplier, Break Even Point, etc. |
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The savvy real estate investor uses tools to measure the
profitability of potential real estate investments. A sound
understanding of real estate ratios and concepts will speed up your
journey on the road to acquiring wealth via real estate investment.
If you would like to learn more about some of the above ratios and
concepts, click on the following link.
Advanced
Topics
The savvy real estate investor knows when to buy and when to keep
looking. Real estate investment analysis software can speed
up, simplify and improve the decision making process.
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Make smarter and more profitable investment decisions.
Quickly size up the profitability of potential
real estate investments.
Compare multiple income properties to determine which one
provides the greatest return.
Determine the future wealth / net worth building potential of
an income property by running low, medium and high anticipated future
appreciation growth rates through the software.
Quickly assess the use of
leverage to increase your return on investment.
Help you to systematically meet your real estate wealth
building goals.
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Don't make rash, uninformed investment decisions. At a bare
minimum, you should understand and use several real estate ratios
that measure profitability and risk. If you would like to
learn more about Real Estate Investment Analysis Software, go to
Software
Features
Feature Comparison
Software
Description
Purchase
Software
The savvy real estate investor knows the market place where he
invests and understands the local economy and future building trends
that can impact the market place.
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How strong is the local economy and local job market?
Are mortgage interest rates increasing or decreasing and
how will that impact local real estate prices?
How fast have property values increased in the past?
Will they continue to increase in the future and why?
Are vacancy rates high or low for different types of
income properties in the market place and how will that impact future
prices?
How will anticipated future building trends and patterns
impact the price of existing rental property?
Should you avoid investing in high crime areas? Is anything being done
to improve those areas or will they continue to decline? If
so, is the potential gain sufficient to take on the added risk?
Should you invest to maximize cash flow or should you
invest for appreciation?
What is the market cap rate
and market gross rent multiplier for different types of income
properties in a given market place and how can I use this
information to determine when I've found a bargain?
Etc. |
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The savvy real estate investor will periodically drive through areas
that he is interested in looking for income property that is "For
Sale by Owner" or recently listed income properties to get a jump on
other investors. He will develop a good relationship with a realtor
so that he gets information as new listings become available.
He will talk to people who own income property and find out what
they think about the local real estate market and why. Being
knowledgeable about your local market place will help you to make
smarter and more profitable real estate investment decisions.
Yes Robert T. Kiyosaki is right in Rich Dad, Poor Dad. You need to get
caught up in the dream and you need a good investment plan.
You need to need to work hard, work smart and keep your eyes on the
objective and continue to expand your real estate knowledge and
expertise. Understanding important real estate investment concepts
and tools such as real estate investment software can help you to
make better financial decisions and help you to systematically reach
your financial goals. A well thought out investment strategy and the
use of cutting edge real estate analysis tools can help you to turn
your dream into a reality.
If you choose not to use real estate analysis software, don't let
that stop you from investing. You can buy income property
without real estate analysis software and most people do and the
majority of them do well. As you become more knowledgeable and
sophisticated at investing, you will understand the advantages that
it offers and how it can help you achieve your goals and dreams.
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Software LLC |
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