Real Estate Advices that I love
drt on Mar 28 2007 at 8:57 am | Filed under: RE Investing
I think I have mentioned in one of my posts or my comments, maybe in response to some of the postings in John Chow’s make money online blog that I love the Rich Dad Forum. It’s a good place for newbies to learn various aspects in real-estate investing, and in the last six or seven years, I have picked up a lot of good advices that had helped me made some money in real-estate investing.
One of the article that I always suggested to a newbie is a post by Marcos on How to get started in Creative Real Estate for $150 or less . Up until recently that post had been anchored in the top of the First Time Real Estate Investors forum. However, I found out last night that the Top Posting status seems to have been taken away and the thread has started to move down the list when more newer postings keep coming in. That’s why I post this entry so that any time if I want to find it, I could simply come to this post and click the link above and don’t need to search through the whole bunch of postings there.
A long that line, I also like the thread by Les Gee on How I Began in Real Estate And What you can do, as well as another thread by Bounce on How Long Does it Take to Make $100K in Real Estate?
These are from people that just really wanted to share their experiences without trying to sell anybody any training materials or seminars. At least that was my perception to date. That’s why I love the Rich Dad forum. You can find so many honest people there that would simply want to lend you their helping hands.
Last night I also visited Kenric’s website, and two of his postings caught my attentions. First, he did some reverse engineering and show why he thought making $25,000 in passive income in 10 years would not be a crazy idea. Recently I visited many blogs and I read so many advices on how to do this or that. Those are great ideas until someone start to ask, why should I believe what are you saying? ….
From what I know, that wouldn’t happened to Kenric’s postings due to the millages under his shoes. That’s why I always love his writing, even though while reading the plan, some naughty ideas came to mind. When I write mine, I would shorter the time to reach the number Kenric put for 10 years because of my late start and my official retirement age is coming much sooner than Kenric’s. No, I won’t tell you the detail now, since I haven’t started with my own plan yet. 
Once you have become a real-estate investor, of course the second post on the $25,000 real estate loss limit and AGI greater than $150,000 is really a good read particularly in the tax time like this. I really enjoy reading this since I would have gone through this kind of trouble should I not getting many free advices from the seasoned real estate investors in Rich Dad community such as Kenric few months ago. I learned about 1031 Exchange to postpone or simply avoid the capital gain tax legally.
BTW, for the disclaimer, please consult your accountant or real-estate lawyer before taking any advice from what you will find in the links mentioned above.
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