Rich Dad Education Blog

Real estate by its nature is a people business. During the course of any given deal, a real estate investor can interact with dozens of various people. In making offers and inspecting properties, a real estate investor can deal with literally hundreds of different people between deals. Without a doubt, real estate is a people business and effectively dealing with people and finding the right people to work with can mean the difference of a lucrative profession or going back to the rat race.

Continue reading "The Real Estate Power Team" »

Posted 11:08 AM | Permalink | Comments (0) | TrackBacks (0)

To succeed as a stock trader at the highest level, one must have developed analytical skills and a level of discipline that would make a Buddhist monk proud. The stock trader makes his living (or supplemental income) in the cold, impersonal, and unforgiving world of numbers. Technically speaking, to succeed in this world, one does not need human interaction, as even the need to talk to a broker has been eliminated in the last decade with easy-to-use trading platforms. Yet even in this cold and calculating world, developing the right connections with people can greatly increase the likelihood of your success.

Continue reading "Your Trading Network" »

Posted 11:03 AM | Permalink | Comments (0) | TrackBacks (0)

It is not a secret that people like doing business with individuals they like. People that are likeable simply have an easier time succeeding than those who are not. Whether you are an entrepreneur looking for capital or a real estate investor trying to close a deal, how people feel about you can be the difference between getting a deal done or not. If it has not been a priority before now, you should make it a priority to develop the personal traits that will help make you a more likeable and well-rounded person.

Continue reading "The People Person" »

Posted 10:52 AM | Permalink | Comments (0) | TrackBacks (0)

Becoming a professional trader has many attractive advantages. Modern technology allows the modern-day trader to work from just about anywhere. Whether it is from the comfort of one's home or a coffee shop, one can access the stocks they are following or research information necessary to make proper decisions. Trading also doesn't require an excessive amount of capital to start with. While you won't be able to quit your day job on a $1,000 account, small initial investments are attractive to an individual just getting their feet wet.

Regardless of your ambition – to manage your current holdings, to provide supplementary income, or quit your day job to eventually trade professionally – there are several areas that need to be mastered before you place your first trade.

Continue reading "Getting Started in the Financial Markets" »

Posted 10:29 AM | Permalink | Comments (0) | TrackBacks (0)

All great products and services first start out as an idea. These ideas can formulate in a boardroom, amongst two friends talking, or while one is taking a shower. Ideas are somewhat sporadic in nature as they seldom can be forced and can arrive in the least expected situations. Regardless of their origination point, whatever success you enjoy in business will be the result of an idea.

So the natural starting point for any new entrepreneur is coming up with an idea for a new business, product, or service. For the new entrepreneur, it is highly probable that you already have at least one, perhaps numerous, ideas that you believe will be successful. So what are the first steps to take once you decide to start making your idea a reality? As action starts to give ideas form, ideas head down one of three paths. Choosing the correct path can be the determining factor on how you spend your time, and whether your dreams become fulfilled.

Continue reading "The Path of the Entrepreneur" »

Posted 10:26 AM | Permalink | Comments (0) | TrackBacks (0)

Those who desire to become entrepreneurs share many similar characteristics. These individuals are driven, ambitious, and oftentimes confident people. This confidence gives them the strength to go out and succeed on their own. This confidence can also bring with it an admirable stubbornness. This stubbornness can bring with it the resilience to get through tough times and succeed where others may fail. This admirable trait can also bring with it some negative aspects. Stubbornness can bring with it the desire to be self contained and not seek out the advice and guidance of others. The desire to do it oneself can have a hampering effect on the growth and even potential success of the would-be investor.

Continue reading "The Value of a Coach" »

Posted 10:24 AM | Permalink | Comments (0) | TrackBacks (0)

Real estate investing offers numerous advantages that are attractive to beginning investors. For those desiring to exit the rat race and increase their passive income, real estate investing can provide the cash flow necessary to accomplish this goal. The techniques and principles behind successful real estate investing are straight forward and allow an individual to get started fairly quickly once the proper educational foundation is in place. At that point, the process of evaluating properties and making offers starts leading up to the much anticipated first deal of the new real estate investor.

Before that first offer is made and first deal finalized, the prospective real estate investor should set the proper foundation. This foundation is based on the knowledge of strategies needed for deals, the techniques necessary for those deals, and the people that will help make that first deal come to fruition.

Continue reading "Getting Started in Real Estate" »

Posted 10:18 AM | Permalink | Comments (0) | TrackBacks (0)

A motivated seller is someone who needs to sell their home, not someone who just wants to sell their home. Someone who just wants to sell their property is usually expecting a full-price cash offer and if they get it fine, but if they don’t, they have the time and resources to wait until they find someone to pay their full asking price for the property.

On the other hand, a motivated seller has to sell the property by any means necessary and is looking for a solution to his or her immediate problem, which is to get rid of the property now! A real estate investor who comes up with a workable solution can usually buy such properties at bargain prices.

Continue reading "The Basics of Real Estate Investing: Finding Motivated Sellers" »

Posted 01:29 PM | Permalink | Comments (0) | TrackBacks (0)

There is a plethora of readily accessible information on effective communication, though a disproportionate amount of counsel is devoted to the honing of one’s verbal communication skills. This is quite unfortunate, since it is estimated that as much as 93 percent of communication is nonverbal in nature. If such statistics are to be believed, a meager seven percent of the message we present is comprised of our words, the remaining amount consisting of such things as eye movement, vocal tone, speed of speech, facial expressions, use of space, gestures, posture, inflection, eye contact, and body movement. To a business person who has predominately focused on verbal communication in his or her efforts to become more successful in their chosen field, this realization should be sobering. This is especially true because a person could have all the right words, and still fail miserably.

Continue reading "Nonverbal Skills" »

Posted 11:46 AM | Permalink | Comments (0) | TrackBacks (0)

Owning rental real estate can be very rewarding, but it can also be very frustrating, especially if you decide to manage your own properties. Rental real estate is really the perfect investment…that is, until you put tenants into the equation. Tenants – you may love them or you may hate them, but you can’t do without them. There is simply no way around it. You must learn how to effectively deal with tenants and become a super landlord.

The first article mainly discussed the tenant-screening process. In review, there is no absolute right way to screen a tenant, but a good screening process will help you become a super landlord and will set you up for success. It is important to develop a system that works for you and use it on every new tenant. Never skip this step!

Continue reading "Secrets to Being a Super Landlord - Part Two" »

Posted 11:44 AM | Permalink | Comments (0) | TrackBacks (0)

A few years ago, few people had ever heard of a short sale. Nowadays, short sales are common real estate lingo. The total number of short-sale transactions has skyrocketed in the past couple of years. The news media throws out all sorts of statistics. For example, one in five real estate transactions now involves a short sale, and in some areas, up to 50 percent of the real estate transactions are short sales. Who knows what the true numbers are but one can say without hesitation that in most parts of the country there are a lot of short sales going on!

In today’s real estate climate, if investors do not take advantage of the opportunity offered by short sales, they are really missing the boat. Investors need to be trained experts at negotiating short-sale deals. Our company offers both online and live courses dealing with foreclosures and short sales. These courses, coupled with a good real estate coach, will prepare investors to compete.

Continue reading "Short Sale Magic - What is a BPO and Why is it Necessary?" »

Posted 05:30 PM | Permalink | Comments (0) | TrackBacks (0)

Owning rental real estate can be very rewarding, but it can also be very frustrating, especially if you decide to manage your own properties. Rental real estate is really the perfect investment…that is, until you put tenants into the equation. Tenants – you may love them or you may hate them, but you can’t do without them. There is simply no way around it – you must learn how to effectively deal with tenants and become a super landlord.

Before you have to deal with tenants, you must first purchase rental property. The first, and most important thing you need to do when getting involved in rental real estate is to buy right. If you don’t buy right, then you may be doomed to failure no matter how good a landlord you might be.

Continue reading "Secrets to Being a Super Landlord" »

Posted 12:12 PM | Permalink | Comments (0) | TrackBacks (0)

While there is a plethora of readily accessible information concerning effective communication, a disproportionate amount of counsel is devoted to the honing of one’s verbal communication skills. This is quite unfortunate, since it has been estimated that as much as 93 percent of communication is nonverbal in nature. If such statistics are to be believed, a meager seven percent of the message we present is comprised of our words, the remaining amount consisting of such things as eye movement, vocal tone, speed of speech, facial expressions, use of space, gestures, posture, inflection, eye contact, and body movement. To a business person who has predominately focused on verbal communication in his or her efforts to become more successful in his or her chosen field, this realization should be sobering. This is especially true because, theoretically, a person could have all the right words, and still fail miserably.

Continue reading "More than Words" »

Posted 10:24 AM | Permalink | Comments (0) | TrackBacks (0)

You may have heard that one of the biggest obstacles to your success is yourself. We get in the way of our true potential in many ways. Fear and doubt are huge hindrances, but another is our lack of organization. When we are unorganized, outcomes are haphazard at best and efficiency is nowhere to be found. You will find that successful people are organized and efficient. They organize their tasks, workspaces, and the tools they use to get work done.

It all begins with knowing what you want (goals), then mapping out how to get there (a plan). One of the main reasons people do not take the time to organize their lives is they think it will take too much time. I can vouch from experience that it costs considerably more time to plow through life unorganized. When I fully organize my week and then each day, I achieve many times more tasks than on the days that I fail to plan. The same is true with my workspaces and the tools I use to get my work done. If my workspace is a mess or my tools are scattered, I spend more time finding what I need than actually doing the tasks.

Continue reading "Organizing for Success" »

Posted 02:03 PM | Permalink | Comments (0) | TrackBacks (0)

The past year has been a wild ride in the real estate and financial markets, a ride that has produced record numbers of foreclosures and declines in residential home values. The financial backbone of the country has been shaken to the core. Multitudes of banks have gone under, and those that are left have tightened their lending criteria to the point that only those with excellent credit and large down payments qualify for mortgage loans.

Even with the massive government bailout package, the economy is still weak; the unemployment rate is at double digits in some areas of the country and the auto industry is all but bankrupt. However, there are signs that the depression is waning; a glimmer of light can finally be seen. Even so, the housing market is turning toward apartment living. Many people still do not qualify for mortgage loans, as many have high credit card debt, and others are dealing with the tough realities of bankruptcy.

Continue reading "Are You Ready for the Next Apartment Boom?" »

Posted 11:49 AM | Permalink | Comments (0) | TrackBacks (0)

Although we negotiate on a daily basis, whether we realize it or not, most people are not naturally gifted negotiators. It is a skill that must be learned and honed overtime.

According to Harvard Business Essentials, “Negotiation– whether brokering a deal, mediating a dispute, or writing up a contract – is both a necessary and challenging aspect of business life.” Unfortunately, far too few people are prepared for or equipped to handle this aspect of life. The purpose of this article is to give you a basic overview of the skill of negotiation, and some general tips for its use.

There are two-main types of negotiation: distributive and integrative negotiation.

Continue reading "The Powers of Negotiation" »

Posted 01:41 PM | Permalink | Comments (0) | TrackBacks (0)

What is a business mixer? A business mixer is a networking event that offers business people a chance to meet and greet other professionals. The purpose of a mixer is to help business people make new contacts that can benefit their businesses in a number of ways at some point in the future. Hosting a party for your associates and peers may sound intimidating, but there are 15 easy steps to follow to make your event a hit.

1. Make a list of your business contacts. The list should include anyone with whom you have had business dealings in the past, as well as any professionals with whom you are even casually acquainted. Next, think of any people in your community who you know by reputation only who might be looking for an opportunity to network

Continue reading "Steps to Throwing Business Mixer" »

Posted 12:25 PM | Permalink | Comments (0) | TrackBacks (0)

This series of articles on the basics of real estate investing discusses what an investor needs to know in order to take advantage of the current real estate market and build a profitable real estate investing business. To some, real estate investing may seem somewhat complicated, but it’s actually easier than one might think. This doesn’t mean you can just read a book or go to a seminar or two and gain all the knowledge you need to safely invest, but it does mean that with some effort, you can get the training you need to start investing. Rich Dad Education provides numerous courses (online and live) covering the basics of real estate investing. If you couple those courses with a personal real estate coach and a Mentor, you can gain the knowledge you need to start investing in record time.

Nothing will give a real estate investor more confidence than having a super buyer’s list. It helps to take away the number one fear that investors have—the fear of not being able to sell a property that they buy. This is especially worrisome for many investors in the current buyer’s market where it is more difficult to sell a property; however, with a good buyer’s list the property can easily sell.

Continue reading "Real Estate Basics: Real Estate Investing Secrets to Building a Super Buyer’s List" »

Posted 12:11 PM | Permalink | Comments (0) | TrackBacks (0)

Many think creative financing involves complex, difficult strategies; however, it simply means finding an alternate way to solve financial problems. When faced with a challenge to finance a property, always use a simple solution.

In a previous article in this series, we discussed the importance of putting together an easy-to-understand loan-request package. With this package, you may get the best (and cheapest) financing available, whether your source is a traditional lender, like a bank, or a private lender.

There are situations, however, in which traditional financing is not available (or not practical), and an investor has to be very creative just to get the deal done. In this series of articles on creative financing, we will discuss numerous methods and techniques to get a property financed. The more methods you understand, the easier it will be to find solutions to sellers’ problems

Continue reading "The Art of Creative Financing: Using the Seller as a Financing Source" »

Posted 01:35 PM | Permalink | Comments (0) | TrackBacks (0)

Many think creative financing involves complex, difficult strategies; however, it simply means finding an alternate way to solve financial problems. When faced with a challenge to finance a property, always use a simple solution.

In a previous article in this series, we discussed the importance of putting together an easy-to-understand loan-request package. With this package, you may get the best (and cheapest) financing available, whether your source is a traditional lender, like a bank, or a private lender.

There are situations, however, in which traditional financing is not available (or not practical), and an investor has to be very creative just to get the deal done. In this series of articles on creative financing, we will discuss numerous methods and techniques to get a property financed. The more methods you understand, the easier it will be to find solutions to sellers’ problems

Continue reading "The Art of Creative Financing: Using the Seller as a Financing Source" »

Posted 01:35 PM | Permalink | Comments (0) | TrackBacks (0)

If you have to develop ways to invest in real estate without using your own money, you will soon master techniques that allow you to buy in any market, under any conditions. Along the way, you will also develop numerous sources of funding and not be short of money for your real estate deals. In addition, you will always be glad you learned to invest in real estate without using your own money.

Probably the single-most asked question by new real estate investors is, “How do I start investing when I don’t have money or good credit?” There are many answers to that question and we will address different methods for investing in real estate with little or no money in this series of articles.

What every new investor needs to realize is that you don’t need excellent credit and a surplus of cash to get started in real estate investing. In addition, you don’t need to own a property to profit from it; you only need to control it to harness its money-producing potential.

Continue reading "Where do I Start When I’m Broke?" »

Posted 02:07 PM | Permalink | Comments (0) | TrackBacks (0)

The current economy is very shaky at best and no one seems to really know what is coming next. Will we soon be on the road to recovery or are we headed for another Great Depression? What we do know is that money is tight and most people are trying to save and build themselves a little nest egg for the future. But banks are paying extremely low interest rates on deposited funds and savings are actually shrinking, rather than growing, when inflation is considered. It’s no wonder that real estate investing is something that more and more people are becoming interested in. Many are choosing to invest in real property as a way to get their money to grow faster.

Continue reading "The Basics of Real Estate - Determining Property Value" »

Posted 12:06 PM | Permalink | Comments (0) | TrackBacks (0)

What is probate?

Probate is a process that occurs when a person with assets passes away. Simply put, it is a legal process to clear and transfer the deceased person’s assets to the appropriate beneficiary, be it a person, entity, corporation, or charity. Each state has its own rule concerning the dollar-amount value at which an estate must go through the process of probate. The set of statutes, limitations, and laws defining and governing this process vary by state, so be mindful that learning the particulars of specific states’ process is essential if you plan to be able to navigate the process successfully. You may want to consult with an attorney to ensure that you are sufficiently educated concerning the potential parameters and criteria with which you may be dealing. Your local title company may be able to answer some questions as well.

Continue reading "What Does Probate Mean to the Investor?" »

Posted 11:09 AM | Permalink | Comments (0) | TrackBacks (0)

Probably the most frequently asked question by new real estate investors is, “Where do I start when I don’t have any money?” There are many answers to that question and we will be addressing several different methods for investing in real estate with little or no money in this series of articles. What every new investor needs to realize is that you don’t need excellent credit or a surplus of cash to get started in real estate investing.

Continue reading "WHERE DO I START WHEN I’M BROKE?" »

Posted 04:31 PM | Permalink | Comments (1) | TrackBacks (0)

By Harold Moses

I now hear, “It’s a great time to buy property!” several times a day. With all the inventory surpluses available and the builder incentives being offered, many wonder how a buyer could go wrong. It is important to keep in mind, however, that an investor buys a property for completely different reasons than a home owner does. There are numerous ways an investor can go wrong if he or she is not careful. So how can an investor be sure to make a sound buying decision? The answer comes down to the age-old question of how to make money in real estate.

Investors typically make money from cash flow, equity going into the deal, appreciation, and/or depreciation.

Continue reading "Why are you buying that investment property?" »

Posted 01:35 PM | Permalink | Comments (0) | TrackBacks (0)

The decision has been made – you are going to start a business. You have put a lot of thought into this new venture, completed extensive research into your market, and have written a stellar business plan to guide you through start-up and the first year of running your business. Your business has great potential and everything seems to be in place except for one minor detail: the money.

Continue reading "How to Find the Right Funding for Your Business" »

Posted 11:03 AM | Permalink | Comments (0) | TrackBacks (0)

By Jacquelyn Lynn

The rate of foreclosures and the potential profits they offer to investors mean that they are likely to remain a popular real estate strategy for the foreseeable future. But there’s an old saying, “the devil is in the details,” meaning that the fate of even the largest projects depends on the success of its smallest components, a fact that is certainly true when it comes to foreclosure investing. One of those details you need to understand and keep in mind is the right of redemption.

The right of redemption is the right of a property owner to redeem his or her real estate from foreclosure by paying the lender the outstanding principal and interest due, plus the lender’s costs in foreclosure, or to redeem foreclosed real property from whoever purchased it at the foreclosure sale. The specifics, such as how long the owner has after the property goes to auction, exactly what has to be paid, and even what the process is called, will vary by state.

Continue reading "Foreclosure Investing Detail: Understanding the Right of Redemption" »

Posted 09:44 AM | Permalink | Comments (1) | TrackBacks (0)

It is the best of times and the worst of times! Yes, everyone can agree that in almost all areas in the country it is a strong buyer’s market − the best of times for buying property at big discounts. But it’s also the worst of times when it comes to selling those same properties. The old rule of buying low and selling high doesn’t work in a buyer’s market. You must buy even lower and sell low. And even then, you have to be creative in how you sell.

Continue reading "Round Robin Auctions" »

Posted 10:51 AM | Permalink | Comments (0) | TrackBacks (0)

January came, a new year and a new beginning, and you made goals. Hopefully, you broke the bigger goals down so that you had weekly activities to help you achieve those goals. Now, time has passed, you have hit some road blocks, and you are starting to get discouraged.

Continue reading "Networking" »

Posted 11:49 AM | Permalink | Comments (1) | TrackBacks (0)

By Mark Gilliland

It is no secret that if you have two similar homes, the home that looks nicer typically sells faster. A concept people fail to understand however, is that with a few smart choices you can make your rehab look nicer without much additional cost and in some cases, not even a penny more!

In this market, asking a realistic price is crucial and this article is intended to help sell your home faster for market value.

Continue reading "Sell Your Home Faster Using Color" »

Posted 11:07 AM | Permalink | Comments (0) | TrackBacks (0)

At some point in time virtually every broker of discount residential mortgage notes will be drawn to the lucrative commercial side of the cash flow industry and the world of invoice factoring and alternative commercial finance. And, rightfully so. With its almost legendary potential for earnings and its uniquely prestigious nature, factoring offers an exceptional career option for those exploring opportunities in the cash flow industry.

Continue reading "Introduction to Factoring" »

Posted 04:31 PM | Permalink | Comments (2) | TrackBacks (0)

Real estate investing can generally be summarized into three steps:

• Find It
• Fund It
• Finish It

You must be good at all three steps in order to be a successful real estate investor. In today’s real estate market, “finding it” has become a lot easier. Foreclosures are at record highs. REOs (Real Estate Owned) are numerous. Motivated sellers are everywhere. All you have to do is go out and spend a little time, and you can usually find all the properties you want. The third step, “finish it” (sell or rent), is a topic for another day. But if we can’t “fund it,” we don’t have to worry about “finishing it,” because we won’t even have it!

Continue reading "Is "Hard Money" Really that Hard?" »

Posted 11:53 AM | Permalink | Comments (0) | TrackBacks (0)

If you are taking the time to read this magazine, you are probably seeking to gain the knowledge necessary to create wealth through improving your financial intelligence. Whether or not one is conscious of such a fact, we all seek to discover investment opportunities which fit our personal “investor DNA.” As you read, aren’t you just waiting for that one, life-changing idea to pop out of the pages, give you a V-8 smack on the forehead, and experience that satori moment that will change and charge your future forever?

Continue reading "Opportunities Abound Through Real Estate" »

Posted 11:59 PM | Permalink | Comments (2) | TrackBacks (0)

Savvy landlords set and enforce clear rules for their tenants, but tenant rules and policies are not a “one size fits all” proposition. What do you need to consider when establishing rules and regulations for your tenants?

By Jacquelyn Lynn

Whether you own one rental property or hundreds, whether they are single-family homes or multi-unit buildings, your rental agreement should include a clear list of the rules and regulations by which you expect your tenants to abide, as well as the consequences for failure to do so. The rules need to be reasonable, appropriate for the property (for example, you don't need rules for pools or playgrounds if you don't have them), and specific enough to protect your interests.

Continue reading "Setting Rules for Your Tenants" »

Posted 10:26 AM | Permalink | Comments (0) | TrackBacks (0)

By Mark Gilliland

It is no secret that if you have two similar homes, the one that looks nicer typically sells or rents faster. A few smart color choices can make your rehab stand out in a positive way with little or no additional cost.

Color is a powerful tool and very useful in attracting people to a property. Consider that small details have a huge impact on our subconscious appreciation for any work of art. Your rehab is your canvas. Before you begin painting, consider all of the colors you intend to use and how they will work together to create a masterpiece both inside and out.

Continue reading "Sell or Rent Your Property Faster Using Color" »

Posted 10:45 AM | Permalink | Comments (1) | TrackBacks (0)

Developing a Playbook: The 5 T’s of Trading

By Tyler Craig

Is it realistic to expect consistent returns from your trading if you have an inconsistent, unsystematic approach? Of course not. Most traders would concede the fact that developing a trading plan is essential to becoming a successful, savvy trader. However, while most accept this, few choose to actually take the time to develop a plan.

Continue reading "5 Ts of Trading" »

Posted 07:48 PM | Permalink | Comments (1) | TrackBacks (0)

Keep It Covered: Insuring Your Real Estate Investments

As an investor, your insurance needs are different than a typical consumer—and as your portfolio grows, those needs will change

By Jacquelyn Lynn

As part of the terms of a mortgage loan, most lenders require borrowers to carry property insurance. But simply meeting the requirements of your lenders does not necessarily mean that you are adequately insured. To be sure that your real estate investment business is properly covered, understand what your risks are, how much liability you are able to accept, and what types of policies are available.

The basic types of business insurance include:

Continue reading "Insuring Your Real Estate Investments" »

Posted 07:42 PM | Permalink | Comments (0) | TrackBacks (0)

Being an Investor Means Being an Investigator

By Mich Christensen

Why do we need to investigate properties when investing?

For the investor to choose a property wisely, he must find out everything about who owns the property, the history, and what is happening to the property. In anything we do in life there is a process—a procedure, a logical reason, and a methodology to accomplish our goals. Just as you follow a recipe for consistency in the kitchen, there is also an optimum plan when investing in property.

Continue reading "Real Estate Investors are Investigators" »

Posted 07:38 PM | Permalink | Comments (0) | TrackBacks (0)

Is Your Mind Geared for Investing?

By Kim Kiyosaki

Do you want to be a Rich Woman?

Most women will answer, “Yes!” Or “Well, I’d rather be a rich woman than a poor woman.” And, of course, there are those who will reply, “You know, money isn’t everything. And I’d rather be happy than rich.”
I never understand why some people think happy and rich are mutually exclusive–that you must choose one at the expense (or exclusion) of the other. My question is: Why not be both? Why not be rich and happy?

Continue reading "Kim Kiyosaki: Is Your Mind Geared for Investing?" »

Posted 07:26 PM | Permalink | Comments (9) | TrackBacks (0)