Comments on: Do You Want To Be Cheap Or Do You Want To Be Rich? http://www.biggerpockets.com/renewsblog/2008/07/23/do-you-want-to-be-cheap-or-do-you-want-to-be-rich/ Learn, Network, Invest Sat, 11 Feb 2012 23:51:37 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Brian Scullyhttp://www.biggerpockets.com/renewsblog/2008/07/23/do-you-want-to-be-cheap-or-do-you-want-to-be-rich/#comment-58685 Brian Scully Fri, 25 Jul 2008 13:34:01 +0000 http://www.biggerpockets.com/renewsblog/?p=1125#comment-58685 It takes money to make money. Companies have decisions to make with profits.....buy back stock (invest in themselves) or give up and distribute dividends back to the shareholders.If you are not reinvesting in YOU and YOUR business, I would say you don't believe in YOU or YOUR success.Successful people surround themselves with knowledge whether through staff and/or their own education.Everyone in this business should have a business plan and as a part of that plan should have a knowledgeable counsel and an accountant as a part of your team. Interview them before engaging. Insure that they understand what you will be doing as a real estate investor.DON'T JUST CHOOSE ANY ATTORNEY. GREAT ATTORNEYS COST MORE..YES. HOWEVER, JUST LIKE INSURANCE...YOU GET BETTER COVERAGE. It takes money to make money. Companies have decisions to make with profits…..buy back stock (invest in themselves) or give up and distribute dividends back to the shareholders.

If you are not reinvesting in YOU and YOUR business, I would say you don’t believe in YOU or YOUR success.

Successful people surround themselves with knowledge whether through staff and/or their own education.

Everyone in this business should have a business plan and as a part of that plan should have a knowledgeable counsel and an accountant as a part of your team. Interview them before engaging. Insure that they understand what you will be doing as a real estate investor.

DON’T JUST CHOOSE ANY ATTORNEY. GREAT ATTORNEYS COST MORE..YES. HOWEVER, JUST LIKE INSURANCE…YOU GET BETTER COVERAGE.

]]> By: real estate investinghttp://www.biggerpockets.com/renewsblog/2008/07/23/do-you-want-to-be-cheap-or-do-you-want-to-be-rich/#comment-58664 real estate investing Thu, 24 Jul 2008 22:57:24 +0000 http://www.biggerpockets.com/renewsblog/?p=1125#comment-58664 theres a lot to be said for being 'thrifty'. anyone that gives someone crap for being a wise about how they spend their money on things like vehicles and food, would be better informed if they were to read millionaire next door. theres a lot to be said for being ‘thrifty’. anyone that gives someone crap for being a wise about how they spend their money on things like vehicles and food, would be better informed if they were to read millionaire next door.

]]> By: Miami Real Estate Attorneyhttp://www.biggerpockets.com/renewsblog/2008/07/23/do-you-want-to-be-cheap-or-do-you-want-to-be-rich/#comment-58655 Miami Real Estate Attorney Thu, 24 Jul 2008 16:57:53 +0000 http://www.biggerpockets.com/renewsblog/?p=1125#comment-58655 Great points in the article! I do like to remind people, though, that it is important to make sure you spend the money on a bona fide "product." In this case, the writer mentioned following the advisor's work and promotions for a while, until he was sure the product was "for real." There are a lot of Realtors, mortgage brokers, etc., putting on various seminars for shortsales, REO tips, etc., that are simply good talkers who went to a seminar themselves, and are only trying to make a few bucks while sales are slow. Get references and check people out! Great points in the article! I do like to remind people, though, that it is important to make sure you spend the money on a bona fide “product.” In this case, the writer mentioned following the advisor’s work and promotions for a while, until he was sure the product was “for real.” There are a lot of Realtors, mortgage brokers, etc., putting on various seminars for shortsales, REO tips, etc., that are simply good talkers who went to a seminar themselves, and are only trying to make a few bucks while sales are slow. Get references and check people out!

]]> By: Upstart Agenthttp://www.biggerpockets.com/renewsblog/2008/07/23/do-you-want-to-be-cheap-or-do-you-want-to-be-rich/#comment-58647 Upstart Agent Thu, 24 Jul 2008 12:57:28 +0000 http://www.biggerpockets.com/renewsblog/?p=1125#comment-58647 Being cheap is an art I've decided. Some do it very well, others do it all wrong...I hope your mailers prove effective for you! Being cheap is an art I’ve decided. Some do it very well, others do it all wrong…I hope your mailers prove effective for you!

]]> By: Kathyhttp://www.biggerpockets.com/renewsblog/2008/07/23/do-you-want-to-be-cheap-or-do-you-want-to-be-rich/#comment-58640 Kathy Thu, 24 Jul 2008 05:52:37 +0000 http://www.biggerpockets.com/renewsblog/?p=1125#comment-58640 Great advice Jason! You described so many people I have known. A solid plan and alot of knowledge does make the "big picture" more clear. My family and I did the same thing when we went to Disneyland. Great advice Jason! You described so many people I have known. A solid plan and alot of knowledge does make the “big picture” more clear.
My family and I did the same thing when we went to Disneyland.

]]> By: Nadinehttp://www.biggerpockets.com/renewsblog/2008/07/23/do-you-want-to-be-cheap-or-do-you-want-to-be-rich/#comment-58639 Nadine Thu, 24 Jul 2008 02:59:21 +0000 http://www.biggerpockets.com/renewsblog/?p=1125#comment-58639 " Only spend money if it will make you money" is not an easy thing to do for some people, including me. But I couldn't disagree no more as this is totally right. Self discipline takes role here. ” Only spend money if it will make you money” is not an easy thing to do for some people, including me. But I couldn’t disagree no more as this is totally right. Self discipline takes role here.

]]> By: St. George Rentalshttp://www.biggerpockets.com/renewsblog/2008/07/23/do-you-want-to-be-cheap-or-do-you-want-to-be-rich/#comment-58620 St. George Rentals Wed, 23 Jul 2008 21:48:47 +0000 http://www.biggerpockets.com/renewsblog/?p=1125#comment-58620 I couldn't have said it any better myself. A lot of people are in trouble with their money because they do not know how to handle it. I couldn’t have said it any better myself. A lot of people are in trouble with their money because they do not know how to handle it.

]]> By: Joshua Dorkinhttp://www.biggerpockets.com/renewsblog/2008/07/23/do-you-want-to-be-cheap-or-do-you-want-to-be-rich/#comment-58619 Joshua Dorkin Wed, 23 Jul 2008 21:35:19 +0000 http://www.biggerpockets.com/renewsblog/?p=1125#comment-58619 I agree with Charles on this one. It actually applies in most businesses -- not just real estate. I agree with Charles on this one. It actually applies in most businesses — not just real estate.

]]> By: charleshttp://www.biggerpockets.com/renewsblog/2008/07/23/do-you-want-to-be-cheap-or-do-you-want-to-be-rich/#comment-58616 charles Wed, 23 Jul 2008 20:34:35 +0000 http://www.biggerpockets.com/renewsblog/?p=1125#comment-58616 Your advice on spending money to make money is very sound and something many (most) don't understand! Your advice on spending money to make money is very sound and something many (most) don’t understand!

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