All Forum Posts by: Abdul Azeez

@Loren Clive My post was just referring to the books, not the courses.

@Jeff Rabinowitz

If the person who owned a company traded to their advantage using non-public information, that would be insider trading. I am not sure he is saying that. So, regardless of whether he asked them or not, if they profited from non-public information, that would be considered insider trading.

All of you make very good points and that's exactly how I felt reading it. Obviously I will have to see how it measures up when the rubber hits the road (i.e. once I make my first investment). The books are definitely an eye opener and frankly any wisdom as long as it makes sense should be the driving force rather than who said it. So, I am not terribly concerned about the absence of rich dad in real life but some folks feel a bit uncomfortable since the whole thing is based on an amalgamation of fiction and reality.

Folks - This may be a bit off-topic but I was just curious. I have read a lot over the last several months since becoming a BP member. One of the books I would say was eye opening was Rich Dad Poor Dad by Robert Kiyosaki. Since then I have gone ahead and borrowed from the library other Rich Dad books - Retire young - Retire Rich, Cash flow quadrant and Guide to Investing by the same author. I find the books very interesting but do find at times that the author swims out of his depth by talking about Options trading strategies etc. I really do like the books but I have also recently learnt that the whole thing could be a work of fiction as in there was no real life Rich Dad in Robert Kiyosaki's life. I do think the books make sense but if such a foundation which is essential to all his books is questioned, am I on a slippery slope in reading these books and rationalizing with the advise provided? Thoughts?

@Fredy Medina A journey of a thousand miles starts with a single step. There is not one recipe for success but success is a combination of efforts (including failures) to reach where you want to go. Learn a lot, read a lot and educate yourself first. Then start putting your education into action. You will fail and tumble at times but use that also as your education in moving forward. Try to treat it as a journey and not a destination per se. When you have this mindset, success becomes a habit.

@Guru Thapar My opinion is that it is difficult to manage out of state properties by yourself (not saying its not possible). When going out of state I strongly recommend a Property manager.

My perspective is that the % number is pretty much a crap shoot. I would prefer setting aside a fixed amount (say $10K) in a separate account that you could dive into when something happens. The key is to replenish the account as you draw from it. This could very well be a HELOC account. When you allocate $10K or $15K or $20K, feel free to adjust based on number of properties you own. The expectation is that its not going to linearly increase i.e. $10k for one property but not $30k for three properties. Long term based on holding patterns, use the average amount divided by the number of properties to average out for your deal analysis.

@Lisa Lincoln I would appreciate if you can PM me some information. I have sent you a request.

chris - I thought I made that pretty clear in my original question. Kindly read my original post which clearly shows the trend I have observed. So a bit surprised by your comment.

there is a 2 pct rule. Not a 1 pct rule. I said it was difficult seeing more than 1 pct through turnkeys, not per second a rule but difficulty in seeing more than this with turnkeys.