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Real Estate Investing - Getting Rich Quickly
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Finding the Ideal Real Estate Agent
This article will offer tips on finding the ideal real estate agent for you. But first, we need to define the word "ideal" as it's used in this context.
The ideal agent is not always the one with the most sales under his or her belt, or the most years on the job. The ideal agent is one who (A) listens to you, (B) is easy to get along with, and (C) has the tools and skills to address you... Read real estate article
Real Estate Investing - The Magic Rule
If you've spent much time around people who invest in Real Estate you know they all have their favorite rules. In Investment Club meetings, online chat rooms, even at the corner coffee shop, you catch snippets of conversations including phrases like,
"Location, location, location,"
"Buy low, sell high,"
"Invest in what you know,"
and many others.
... Read real estate article
Real Estate Investing - Getting Rich Quickly
If you are going to get rich, you may have to give up everything you ever learned in school and from your parents and start from scratch. Now that's not a definite by any means. You may not have to start over. If someone along the line taught you, for instance that it doesn't actually take money to make money, then you may already be on the right track.
That's right. Robert Kiyosaki, author of the Rich Dad book series, said it exactly like this: "It doesn't take money to make money. I often hear people say it takes money to make money. I disagree. We had no money when we started and we were also in debt. It also doesn't take a formal education."
He then mentioned Bill Gates as someone who never completed a college education. Which would you rather have, a collection of doctorates or Bill Gates' money?
What it does take, Kiyosaki says, is determination and a willingness to learn quickly. But you also have to know what to do with your talents and, most importantly, to know which part of the Cash Flow Quadrant to generate your income from.
The Cash Flow Quadrant is an icon taught to him by his best friend's father, a man to whom he refers in his books as his "rich dad." It is an illustration of what his rich dad called the four different types of people in relation to money: Employees, the Self-employed, Businesspeople and Investors. Each quadrant comes with its own outlook on the world. The outlook of those in the B and I quadrants are the ones that help make them rich.
When Kiyosaki says you need to be willing to learn quickly, he doesn't mean go back to school to improve your job skills. He means you should learn about investing, preferably investing in real estate. The rich dad on whom he based his books was a real estate investor. You can get rich investing in real estate because everything else depends on it. At the beginning of his book Cash Flow Quadrant, he pointed out how so many of Hawaii's businesses were sitting atop real estate that his rich dad owned.
But he doesn't just mean you have to learn the nuts and bolts of investing. You do have to learn about those things, at least to the point that you are able to intelligently choose a professional to help you with your investments. But more importantly than that, you have to learn how to think like an investor, and possibly a bit like a business person too.
That is a far cry from thinking like a Self-employed person. According to Kiyosaki, a self-employed person is someone who owns a job, not a business. You don't own a true business, he said, unless you can leave it for a year and return to find it still making money for you. Businesspeople, he said, know better than to try to do everything themselves. In order to save time and money, they hire people to do the things they can't do or don't have time to do. That's why hiring a qualified real estate professional to guide you in your decisions can be a good investment in and of itself.
However you decide to do it, learning the nuts and bolts of real estate investing yourself or by hiring a qualified person to advise you, it is definitely time for you to move to the I quadrant - that is, if being rich is something you'd like to consider.
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Buyers Agent
The Buyers Agent is a role that has become increasingly more significant in recent years. This is for many reasons, but perhaps the most important of these is that home buyers have come to realize the necessity of having a professional to see to their specific needs in the purchase of a home or property.
Historically speaking, the process of a home purchase was simply handled by the listing agent. This is, the agent who is actually selling the home. However, this presents a clear case of conflict of interest to the buyer as the listing agent's main responsibility both financial and otherwise lies with their client, the seller. Keep in mind that this is not to say that the listing agent is not capable of handling both concerns, simply that the home buyer's interests are better served by an independent agent.
The Buyer's Agent has several responsibilities when it comes to the purchase of a new home. The most important of these is the locating of a property that suits the need of the individual buyer. It is at this point of the agent/buyer relationship when the agent can summarize the needs of their client and evaluate the available homes in their target area to find that particular home or homes that fulfill the requirements set out by the buyer.
Once a target home is located, the Buyer's Agent can then concentrate of the negotiation of a sale price and the contract terms if an agreeable price is reached. Once an agreeable price is reached, the Buyer's Agent can then organize a professional inspection of the property in question and ensure that the terms of the contract are carried out to the letter. At this point in the process the Buyer's Agent can also help to streamline the financing process and ensure that the other parties involved in the sale of the property meet their contractual obligations.
In today's real estate market the practice of working with a Buyer's agent is becoming ever more necessary. In fact there are now Agents who specialize in this field and can provide the buyer with a wealth of information and experience that are of undeniable value in the purchase of a home.
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