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Posted over 3 years ago

Become a Millionaire in 1 year. Possible but not probable.

I thought this title would get your attention. That's how most of todays so called experts get you to buy whatever they are trying to sell to you. In reality the first step to becoming financially free is not freedom at all but through bondage. Yes that's right. You will be a slave to hard work, long hours, frustration, financial losses and sleepless nights. If anyone tells you different then just pick up a book abut some of the most successful businessmen and woman who got into real estate or started their own business. Nearly all struggled and some were about to quit. Your first test is to look in the mirror and ask yourself. How bad do I want this? How much am I will to sacrifice? Am I willing  to pay my dues and delay all gratification? Sometimes you will work for years and not see a dime. In fact you may work for years and it can cost you money. I call it tuition. HK university. "Hard Knocks".  I have done this investing game for 25 years and I am finally seeing the fruits of my labor. Imagine that. Working this for 25 years and really never seeing significant cash flow. Now my net wealth is growing each month at a rapid pace and I can decide whenever I want to stop working. Until now its been a lot of work and many times I have wanted to give up and cash out. Sell it all and live a simpler existence. There is so much to learn and in fact I learn something every day  Sometimes its a small lesson and sometimes is a business or life changing lesson. When you think you know it all then its time to hang up the gloves and retire. Here is what I suggest to at least shorten the learning and pain curve.

1. Start slow. Continue to raise your real estate I.Q.

2. Hang around folks who are proven successes at whatever you want to become good at and listen to what they have to say and how they say it.

3. Listen to your gut

4. Focus and work hard and start small

5. Always know and try to limit your risk

6. Once you feel comfortable then take massive action. Remember this. You can be the smartest real estate investor on the planet but if you dont take action you will be the poorest real estate investor on the planet. 



Comments (1)

  1. This is some good and sane advice.  I think that too many people are coming into real estate with a lot of dollar bills in their eyes. Yours truly probably included.  It seems that 2008-2010 has been largely forgotten.  Yeah, there is a housing shortage in the US. Yeah, we're in a real estate boom. Is that going to last for a long time given an aging population and dropping birth rates?  We'll see.  

    Alex: Thanks for taking the time out of your day to write this!