What Can the Real Estate Investing Mentors Teach Us?

By: Ajay Albertson

Names like Robert Kiyosaki, Ken McElroy and Donald Trump tend to make it into our pop-culture. Even people who haven't heard Robert Kiyosaki's name recognize "the Rich Dad, Poor Dad" guy. But Donald Trump? Most Everyone knows who he is. They know he owns a LOT of investment properties. People don't understand, however, how much they actually have in common with someone like Trump or Mr. Kiyosaki.

The main difference between someone like Robert Kiyosaki and the average American is that he has taken the time to study and learn about investing in real estate. Of course, Trump may have grown up studying the different parts of real estate, just as another young man may have grown up studying the various aspects of football or perhaps his favorite style of music. These mentors realized that learning about buying real estate is a perfectly respectful thing for a reasonably smart person to set out and do. All you have to do is understand what you need to know and take action.

The Rich Dad book-series helps you do just that.

You have to learn the actions of investing in real estate, a how the whole thing works. You have to understand that you need to learn some basic accounting and finance, and familiarize yourself with property law. You don't have to learn a lot, but you do have to be conversant with your accountant and your attorney. After learning how to read the language of real estate, so to speak, it is then time to learn about the markets. It is very important that you learn how to study and keep on top of the investment property markets that hold your interest.

Then there is the business of the negotiation and knowing what to do to make sure that you get all the information on an investment property that you need to make an informed decision - even information that the seller may be withholding. The experienced investor gets this information by making sure to inspect the property his or herself, and by bringing along the appropriate member(s) of the team of experts he will have hired. This team are your eyes and ears. They will see the things that you may miss and they will give you valuable feedback.

The newbie investor has to know how valuable an asset this team is, so he won't attempt to invest without one.

These are the things that the real estate investing gurus know. It is a process that they have mastered. Of course, they have practiced that process so many times that it has become 2nd nature for them. But it is something that you can learn as well.

And that is the main difference between the experts and someone like you is that the gurus understand how easy buying investment property actually is.

Kiyosaki is a man who seized an opportunity when he saw it. The son of an educator, he could have grown up thinking that his destiny was to spend his life as a "wage slave". In his Rich Dad book-series, he writes that his father was an extremely book-smart man, but he referred to him as his "poor dad." The opportunity Kiyosaki saw was that of listening to the wealthy father of his friend, who advised him a better financial future lay ahead for him if he was willing to buy investment property. He took this advice from his "rich dad" to heart and began studying how to do it.

He is still growing today. All the gurus are, because property investing is an ever-changing discipline. The markets are constantly fluctuating, and tend not to stay put. All it takes to become wealthy is to simply sit down and learn how it is done. All you need is the will to study.

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