Understand the relationship of Taxes and Real Estate
Home ownership is seen as a good public policy. Public policy is supported by taxes.
Mom (head of house hold or not…?)
Apple Pie (deductible as gift ?)
The world is a treacherous place to seek advantage,
but it is the only place we have.
Reduce Risk for more Rewards
Rich Real Estate Dummies understand risk. Risk is part of business. Rewards without risk come from people who love us and give us gifts… not the free market where competition devours the unaware. Read the rest of this entry
Learning Impacts Life
Success is a road not a destination.
The dynamics of the real estate market place change and a Rich Real Estate Dummy needs to be schooled in the latest ideas and trends.
Rich Real Estate Dummies place a high value on education.
As with any business, it is imperative to keep up to date with the current laws, regulations, terminology and trends that shape the market place.
Keeping current requires some effort and work. It should be viewed as an investment in the future of your business. Read the rest of this entry
Referrals Reflect Respect
Savvy Dummies know that it is other people who bring value to their life.
As a Rich Real Estate Dummy we know that it is OPM that lets us HOP. We use “other people’s money” so that we can “help other people”. If we help enough other people we will be advancing our own cause.
Referrals generate a sizable portion of a real estate investors business. This is one reason that relationships are so important. It is critical to employ the “Golden Rule” and treat others as you would want to be treated.
This posture to be of greatest value to the investor must apply to the lowest value tenant as well as the highest value client. Anyone the Rich Real Estate Dummy has relationship with is important because of the potential impact they can have on any one facet of the investor’s life. Read the rest of this entry
Develop a Focus or Niche
Real Estate offers a huge number of options. It is easy to go astray with so many ways to invest in real estate.
There are some who get very emotional and see a home as a nest, where they will cuddle with a loved one in front of a fireplace with a special treat on a cold night. Investors need to be careful about getting too emotional about owing a property that will not be a primary residence.
The dummy knows that investing is so much more than just buying and selling. There are opportunities as an owner, developer, property manager, lender and brokerage. Read the rest of this entry