[...]... California PRAISE FOR REAL ESTATE RICHES xi “I have recently joined a real estate company and have read your book Real Estate Riches I am a keen businessman, and after reading your book property makes a lot of sense Thank you for the great inspiration.” —Rudi Maritz, South Africa “I recently purchased one of your books (I already had Real Estate Riches) I just wanted to say that I am really enjoying them... experiences.” —Patrick Mintel, Florida “Just finished Real Estate Riches and enjoyed it very much Can’t wait to continue my search for the riches. ” —Becky Moran, Erie, Pennsylvania “I read your book Real Estate Riches, and found it both empowering and life changing THANKS You added value to my life.” —Wikus Strydom, Cape Town, South Africa xii PRAISE FOR REAL ESTATE RICHES “Thank you for your assistance I greatly... excitement and profits continue!” —Mike W Sanderson, Virginia “I have just completed your book Real Estate Riches What a great book.” —Brian Hunter, Boulder, Colorado “I am a mother of four and awaiting my turn in real estate riches. ’ (That was a great book; I’m reading it again.) Because of the book Real Estate Riches, my husband and I felt bold enough to take over my parents’ property (they didn’t want...x PRAISE FOR REAL ESTATE RICHES “I bought your book Real Estate Riches and your course Property Investor’s School and used the information to buy a $1.2 million commercial building Thanks for all of the great information I couldn’t have done... Acknowledgments M y thoughts, theories, methods, mistakes, successes, wins, and learnings in real estate have been formulated over many years Countless people have—wittingly or unwittingly—contributed to my thinking, from real estate agents, bankers, mortgage brokers, and appraisers to tenants, members of real estate investment associations, and thousands of investors (both budding and experienced) who... Articles followed, then books, and a weekly two-hour radio show on property I have lectured on real estate in over fifteen countries, have made software available to analyze and manage property, and appeared on radio and television shows discussing the merits of real estate Today there are many books on real estate Almost all are correct in what they teach (as you’ll learn in this book, there is no right... PART ONE Why Is Property So Good? Chapter 1 FOUR MAGIC QUESTIONS T he purpose of this book is not so much to give you the “how-to” of real estate although there will be plenty of how-to advice—but to make you sit bolt upright and exclaim: “Wow, I never realized real estate was this good!” The reason is that once you “get it,” once you understand why property is such a phenomenally lucrative and astoundingly... may be asked to go back East 12 REAL ESTATE RICHES to sell dearly departed Grandpa’s house and small shopping mall, because no one else in the family can take the time off work However, the reason Tommy doesn’t have a job is because he likes partying, so back East he does not bother to do his homework to get the best price—he assigns the task to a randomly chosen real estate agent (a rookie with two... the next 8 REAL ESTATE RICHES chapter why I am not overly concerned with this risk of a downturn Question Two The moment you buy your $100,000 worth of stock using your $100,000 cash, how much is your stock worth? If Question 1 (from a few pages back) as it relates to stocks draws blank stares during seminars, Question 2 creates discomfort, as most people seem to assume that this time it must really be... Smith, Kentucky “I just wanted to pass along a thank-you for inspiring me to start my real estate investing career I have been successful in one jointly owned short-term rental property I am in the process of laying the basic foundation for residential rentals and hope to own my first one June 2004 “Out of all the real estate gurus I’ve listened to and read, you have reached me the most The message I . Piña, California x PRAISE FOR REAL ESTATE RICHES fbetw.qxd 9/20/04 11:31 AM Page x “I have recently joined a real estate company and have read your book Real Estate Riches. I am a keen businessman,. Florida “Just finished Real Estate Riches and enjoyed it very much. Can’t wait to continue my search for the riches. ” —Becky Moran, Erie, Pennsylvania “I read your book Real Estate Riches, and found.