Investing In Real Estate, Lesson 6: Investing In A Local Limited Partnership
If you tell a financial planner you’d like to invest part-time in real estate, he’ll suggest either REITS (real estate investment trusts) or limited partnerships. REITS are like stocks. You have no control over them, you have little chance to interact with management, and your knowledge of the business and…
READ MOREInvesting In Real Estate, Lesson 5
“Failure is the opportunity to begin again, more intelligently.” – Henry Ford Here’s a very nice and easy way to make good money in real estate. It’s something you can’t do all the time, but when you can it’s golden. The idea is to buy pre-construction homes/condos in very promising,…
READ MOREWhat To Do With Good Employees, Part 3
“Everything that is really great and inspiring is created by the individual who can labor in freedom.” – Albert Einstein (Out of My Later Years, 1950) On Wednesday, we talked about money — how much good employees should be paid. Yesterday, we talked about benefits — both standard and fringe.…
READ MOREInvesting In Real Estate, Lesson 4
“Little and often make much.” – Confucius Yesterday, we talked about buying and selling fixer-uppers in bad neighborhoods. But you don’t HAVE TO start at the bottom. If you have more money to invest, you can do all of the above in a better neighborhood. In fact, if you can,…
READ MOREDirect Mail Will Work for Anybody
People sometimes say, “Jay, I’m not a retailer or a mail order company I don’t see how in the world I could possibly use direct mail.” To which I reply: “Nonsense-you can use it, and you should use it, because if you don’t think you can use it, then chances…
READ MOREBuying and Selling Local Rental Properties
“If you fall, pick something up while you’re down there.” – New England proverb Yesterday, I told you a story that highlighted just about every mistake you want to avoid when buying real estate for rental purposes. Today, let’s talk about what you should do. It seems to me that…
READ MOREF 2 Real Estate Lesson 2
“Seek not proud riches, but such as thou mayest get justly, use soberly, distribute cheerfully, and leave contentedly.” – Francis Bacon (Essays, 1625) My first experience in real estate was an unforgettable disaster. KFF and I were living in a little town house in the Dupont Circle area of Washington,…
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“An acre in Middlesex is better than a principality in Utopia.” – Thomas Babington Macaulay (Lord Bacon, 1837) Last week, we talked about wealth building in terms of “five secrets”: Secret #1. Get to work an hour early. Secret #2. Practice a financially valuable skill devoted to profitable endeavor.…
READ MOREWealth Building Secret #4: Invest In What You Know
“The first man to fence in a piece of land, saying ‘This is mine,’ and who found people simple enough to believe him, was the real founder of civil society.” – Jean-Jacques Rousseau (Discourse on the Origin and Bases of Inequality Among Men, 1754) Yesterday, I explained my approach to…
READ MOREChoose Investments That Keep Risks Low And Profits High
“Be not penny-wise: riches have wings, and sometimes they fly away of themselves; sometimes they must be set flying to bring in more.” – Francis Bacon (Essays, 1625) If you get up early and make good use of your time, you will have a higher-than-average income. If you commit to…
READ MOREChoose investments that keep your risks low and your profits high
If you get up early and make good use of your time, you will have a higher-than-average income. If you commit to saving a significant portion of that extra income and check your net worth every month, your net worth will grow quickly. How quickly depends on three things…
READ MOREWealth Building Secret #2: Earn More Than You Spend
“I didn’t want to be rich, I just wanted enough to get the couch reupholstered.” – Kate (Mrs. Zero) Mostel If you continue to get up early and read Early to Rise your income will climb. How do I know that? Because the world is starved for ambitious, hardworking, and…
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