Many of us have been taught to go to school, get some tertiary education if at all possible, get a job, invest in a good pension or provident fund (for the long term) and eventually you will have a comfortable little nest-egg which will enable you to retire from the world of work, sit in the sunshine sipping cocktails on the beach.
This past weekend I attended one of Robert Kiyosaki’s free seminars to learn more about his Brick-Buy-Brick training method where he teaches one how to invest in property whether you have your own financial resources or not. For those who don’t have their own financial resources, his training programme teaches how to go about finding other sources of income to create wealth for yourself by investing in property.
I went to the workshop as a sceptic, determined to find faults and flaws and to write this off as just another scam, however, I was not able to find any flaws or faults so if it is a scam, it is a very well disguised one.
In my previous post I mentioned that the property you are living in is not an asset but a liability. In terms of wealth creation, you would need at least one additional property from which you can receive rental income which will then be an asset to you. Your (financial) aim in life should be to increase your assets and reduce your liabilities.
According to Robert Kiyosaki, there are six steps you need to take to become a property investor. These steps are:
1. Decide to learn how – the first part of your investment should be in your education. Education about the property market, the do’s and don’ts of buying property etc
2. Find an area to invest in i.e. find your deals. Focus on the areas closest to your own home so it’s easily accessible should the need arise for you to go there.
3. Identify potential properties in the area(s) you want to work in.
4. Find a good Broker (Estate Agent)
5. Put the deal together
6. Manage the property
What I learned this weekend:
1. You need to have an Action Plan and it needs to be in writing. Having an Action Plan in your head is no good. Do you have a financial Action Plan for the next 12 – 24 months?
2. Success is something you attract by the person you become.
3. You need to work harder on yourself than you do on your job. Of course you still need to give 100 percent at work, but when you’re not at work, you should work harder on yourself than any other part of your life.
4. Self-development for the next 12 months should include: attending at least two seminar/workshop events (more if possible), read at least one book per month (more if you can) and listen to at least one audio book (more if you can).
5. We should not wish for less challenges, we should wish for more wisdom i.e. focus on the opportunities and not on the challenges.
6. Work on that which you can control i.e. you can control your income (cash flow) but you cannot control the Government, inflation and/or recession etc Leave politics to the politicians. Focus on improving your own life.
7. Knowledge equals confidence.
8. Pain can motivate you – embrace your challenges
9. Allow people to help you. Don’t be too proud to ask for help.
10. Three keys to success: Opportunity, knowledge and Action (massive action)
11. We need to have a positive mental attitude (PMA) and a millionaire mindset
12. Study yourself: keep a journal (write daily learnings, your life’s mission, your vision board etc). Go through your journal every quarter and again at the end of the year and see how far you’ve come.
13. Believe in yourself.
“Hell on earth is meeting the person you could have become”.