This week I have been sharing what I picked up on the weekend at Robert Kiyosaki's workshop.The things I picked up that we can use as KLR Marketers or anything else in business :
CASHFLOW IS KING - He believes the only reason you should invest in something is for Cashflow - it is speculating when you invest for Capital Gain.
TIME & PATIENCE : Robert and Kim are willing to wait sometimes up to 5 years for a peice of real estate to become available and when they purchase real estate they never plan to sell - just collect cashflow every month. I posted about gold and silver last night - they are prepared to stay in for 10 - 15 years if that is what it takes for their investment to mature.
INFINITE MONEY : Now this was an interesting one let's see if i can explain :
Buy 300 apartments $11million
$8 mill Bank loan $3 mill Cash investment
Put in Washers and Dryers/Carports to increase Rentals/ month
Now property is valued on returns not market sentiment so
property increase in value to $14 mill.
Refinance - take out $3 mill and do it again.
It can take 3 -5 yrs to create this and keep on collecting cashflow.
Interestingly they can get up to 40 yrs locked in interest at 6%.
EDUCATION : Robert and Kim were both very strong on this - they beleive everyone MUST educate themselves and never, never give your money or listen to people who may benefit from your investment. They really did come from humble beginnings and started small and have over the last 20 years turned that into an empire.
If you are into learning more he has more books and information than you can read.Hope you have enjoyed my feedback from the weekend. I have tried to share my interpritation of what I heard without agreeing or disagreeing. I do endorse the four heading above because they are keys to success in anything we do.
A couple of people have asked where can you buy Gold/ Silver - if this interests you email me and I can pass on various good sources.
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