Rich Dad – Real Implementation Techniques
After reading first 3 books of Rich-Dad I constantly looked for an easy method to implement techniques and building profits from this knowledge.
As expressed in Rich-Dad books there are 3 main aspect to build you own portfolio and build a financial independency:
A. Real-Estate B. Internet C. Business and Business development
Starting with first technique I immediately purchased a 2nd two room apartment on central location at attractive price of $75k while 90% been financed by bank (mortgage) average income of this apartment reach $400 per month.
3 months later I've purchased my 3rd apartment for $102k again at 90% financing and average of $550 return from renters.
Although both of my new apartments consider being an attractive investment, my cash flow was hardly changed as 20 years mortgages are almost identical to rental fees.
Real-Estate is a good long-term investment, however due to complications, cost and time of liquidation; one must use in parallel other techniques to reach a full financial independency.
Note: Today I own 5 apartments, and plan to reach 10 before age of 30.
Internet huge potential for mass markets is a great media that can be used by independent individual utilizing easy tools already exist on market.
One must remember that internet is a media; to its potential you should have following factors:
1. Products or Services 2. Attractive site with selling capabilities 3. Cost effective marketing techniques
To learn about media I've decided to start with a non-commercial site which will be useful and will include various methods of site-building, I found out that there are many hosts that provide easy tools and hosting for free E.g. http://www.20m.com So I built my first websites 5 years ago and it's still online: http://www.155.20m.com http://www.mail2god.20m.com http://www.1800-international.com http://www.itx-group.com http://www.100-dollar.net http://www.cassino-bonus.com http://www.deadsea-shop.com