Real Estate Information

Luxury Real Estate Information


Rancho Palos Verdes, California Homes
Palos Verdes, California Homes
South Bay, California Homes
Luxury Mexican Beachfront Homes

Featured Properties


Oceanfront Estate Near Trump National

Related Information


Loan Information
Real Estate Information
Mortgage Refinance Information

How You Will NOT Make Money in Real Estate


We all have seen some book called "How I Turned my last dollar into $1 Million by buying real estate in my spare time". Some of us even bought such books on an impulse with high expectations.

They all start about the same: "I had been young, unemployed and I used borrowed money to buy a foreclosed apartment, which no one wanted to touch with a ten foot pole. Actually the bank was ready to give a full price loan to anyone, who would be foolish enough to take this disaster out of their hands."

Guess what? The lucky buyer painted the apartment bright green and it immediately sold to the next fool for $50,000 more. You don't believe him? Me neither. But check the Internet and you will find plenty of sites teaching you how to flip houses for an instant profit by painting their doors in "happy" colors.

Before you ran out searching for foreclosed apartments badly in need of painting, have patience and finish this article. Most of such books are variations of the popular book series of the 19th century - "How you can become a Happy Millionaire".

They all use primitive hypnotic techniques to fool their readers. They start with: "Your mind will change and grow, slowly and steadily with every page you read. With every thought and insight you gain, your desire and courage will grow as well."

The wild success of such techniques was attributed to the low levels of education of the reading public 150 years ago. Well, we should think again. Look at the amount of books Robert Kiyosaki is selling. His Rich Dad Poor Dad series are great in persuading you about the need to make money, but fall short on particulars about how exactly you can achieve that.

Despite an attempt to put an entertaining face to the age-old scam, most of those books' techniques are surprisingly similar. They all have this line in common: "Since every millionaire started with a desire to become rich, you must develop a burning desire for money as well. And write this down, have a plan. Once you wrote down a plan, you are half-way there."

That course of action remains me of a poor Jewish matchmaker in some remote village in Russia in the 19th century. There was a nice old maid in this village. She had a heart of gold, but was not a great beauty, so no one wanted her. The matchmaker decided that she needs his help. Whom should she marry? The King of England was widowed recently, so he was obviously in search of a spouse. A perfect combination.

The matchmaker spoke with the elders of the village, and they all agreed that it might be a good idea. Than he spoke with the maiden herself, and she also reluctantly agreed. Well, said the happy matchmaker rubbing his hands, half the work is done.

When you hear how easy it is to make money by flipping houses, you should realize that even if some of those stories are true, they are highly selective. They are not representative of the real-life situations. Those books are always telling that you can make a fortune by finding stupid sellers, whom you can swindle out of their money.

There is always a seller in those books, who so badly wants to get out of his house that he is ready to accept half the price. In real life, if the sellers are willing to sell for half price, that means the area around the house is in bad economic situation. There are no jobs in this area or there is a rising crime wave, so most residents want to move out and very few want to move in.

If this seller had a chance to sell for more, do you think he would accept your offer for a half price? Most probably he thinks that a next offer might be even lower. If you will try to sell his house for more, do you think you can fix all its problems by just painting it?

Whoever is trying to sell you such simplistic view of the Real Estate investing, doesn't have your best interests in mind. He is tricking you into buying his books, and he is using the psychological trickster techniques. Most such techniques work on the subliminal level. That means that they can trick you only as long as you are not aware of them.

Now, if you want some self-help book to make you feel better, there is nothing wrong with buying Robert Kiyosaki Rich Dad Poor Dad books series. It might even alleviate your boredom for an evening or two.

But if you want to preserve the value of your investments, or make some money for your retirement, realize that those books are poor substitute for a real learning. In order to make heavy financial decisions, you will need much more than a pep-up talk.

We all need some reassurance here and there. If hypnotic self-help books can provide it to us, so much for the better. As long as you don't start to gamble your life's savings using the advices found in those books.

You can ask, aren't there some good books on Real Estate investing with sound financial advise? Yes, there is plenty of good information available and you can also find smart books on the subject. But that will be the story in my next article.

To learn more about financial and investment advise and retirement planning visit new Money Management Forum at Wise-Investment.info


MORE RESOURCES:
This RSS feed URL is deprecated, please update. New URLs can be found in the footers at https://news.google.com/news


New York Times

Recent Commercial Real Estate Transactions
New York Times
$14.25 MILLION. 186-188 First Avenue (between East 11th and 12th Streets). Manhattan. A local investor bought these two five-story East Village walk-ups, totaling 14,900 square feet with 50 feet of frontage. They offer 16 two-bedroom apartments, which ...



Macy's, Inc. Real Estate Sales Will Continue in 2018
Motley Fool
Despite the improving sales trends, many analysts expect Macy's to face continued earnings pressure in 2018. The average 2018 EPS estimate -- which probably ignores the recently implemented tax reform law -- is just $2.86. Bears often point out that ...

and more »


Mother Jones

Eric Trump Stands to Profit Bigly From Sweetheart Real Estate Deal With His Dad
Mother Jones
He bought two previously unsold condominium apartments at Trump Parc East for just $350,000 each, about half of the price they had recently been listed for. Such bargain basement sales are usually treated as gifts by the IRS. But they might not have ...

and more »


Made a real estate deal? Tell us about it
Crain's Detroit Business (blog)
For my new weekly Real Estate Insider email newsletter — which you get with a Crain's Enhanced Membership — we are creating a weekly roundup of submitted commercial real estate deals. The purpose is to add value that you won't be able to get ...



The essential guide to real estate and tax reform
Inman.com
In what analysts are calling a non-political sacrifice, the GOP put longstanding real estate tax breaks on the chopping block. Indeed, the Republican overhaul of the nation's tax code, dubbed the Tax Cuts and Jobs Act and signed into law by the ...

and more »


6 secrets to getting a real estate listing every day
Inman.com
We all know that listings are essential to success. Increasing the number of listings you collect each month allows for more possibilities for your business, and it's the most direct way to improve your real estate productivity. The keys to achieving ...



Realtor.com News

Really Bad MLS Photos: 5 Horrific Real Estate Pics | realtor.com®
Realtor.com News
Real estate photos can be gorgeous—or horrifyingly ugly. As proof, look no further than the Facebook group Really Bad MLS Photos, where members share the biggest clunkers they've seen. Seven years ago, Paul Meleedy, a real estate agent in Lakeville ...

and more »


How real estate pros can survive the Facebook news feed change
Inman.com
Facebook's founder, Mark Zuckerberg, announced that the company will overhaul the algorithm for the platform's news feed. Gearing toward “meaningful social interaction” and away from, what it deems, “relevant content.” Why is this important for real ...

and more »


WK Real Estate Earns RELO Quality Certification
RisMedia.com (press release)
Boulder, Colo.-based WK Real Estate has been awarded the RELO® Quality Certification (RQC) from Leading Real Estate Companies of the World® (LeadingRE), the network recently announced. The only program of its kind, the RQC quantifies and qualifies true ...



Washington Post

How to expand your real estate investing business into a new market
Washington Post
In my last article, I talked about what I see as danger signs for the Washington-area real estate investment market. I have had those concerns for quite a while, and for the past year or so I've been putting together a plan to diversify my real estate ...
Regal Real Estate Investment Trust (HKG:1881): Is Real Estate An Attractive Sector Play?Simply Wall St
Canadian Real Estate Investment Trust Announces January 2018 DistributionMarkets Insider
Financial Newsletter - Zacks Investment ResearchZacks Investment Research
Zacks Investment Research
all 164 news articles »

Google News

home | site map
© 2006 TIGER MEDIA