Chapter 1
The Myths
and the Magic
In every business and every industry there are people who just
seem to drip with success. They seem to know all the right people,
make all the right decisions, be in all the right places at exactly the
right time. They seem destined for success whether they even try or
not. Real estate investing is no different. In every city or town, there
seem to be real estate tycoons that struck it rich through real estate.
These are the people who just make success look easy They ap-
pear confident, knowledgeable, savvy, and seem to see opportuni-
ties where others don't. It's easy for onlookers to think the
achievements of these golden few are the result of luck or some sort
of magic. But magic and luck have absolutely nothing to do with it.
About fifteen years ago, I decided I was going to be one of the
people I just described. I was going to make my own success, be my
own boss, and achieve financial freedom. And I chose property
management as my route. Call it instinct, call it impatience, call it
burning desire. I wasn't about to wait for a lucky break or a magic
charm. I set out to make my dream happen, and I did it through
action.
In the eariy days of my first property management and real estate
deals, there was a lot of trial and error and I made my share of mis-
takes. But for every one mistake I made, I learned ten lessons and got
smarter every day I started to see patterns, discover formulas and
systems, and develop a network of people I could count on. It took
time and it took work, but the more I pursued my dream, the luckier
I felt and the more often magical opportunities presented them-
selves to me.
Maybe there is a bit of luck and magic in success. But it's luck
and magic that comes from working hard and being prepared. At
the Rich Dad Seminars, where I often speak, I see people all the
time who are taking the first steps toward future success, much
like I did nearly two decades ago. Many have what it takes: the
drive and desire that will help them overcome obstacles and be
prepared.
Unfortunately, I also see at the seminars some who lack what it
takes. They are the ones looking to get rich quick and have litde or
no idea of the commitment required to achieve business success.
Others have a lot of desire, but lack the technical skill and the
knowledge that can only come from experience. I wrote this book
for them. This is not a get-rich-quick book. It is not a book written
to motivate, although I hope you'll be inspired to follow your real
estate investment dreams. Instead, it is a book that will disclose
proven methods, remove the unknowns, and shorten the learning
curve for anyone who chooses investment real estate as his or her
path to financial freedom.
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