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Dolf de Roos - Money in Real Estate

Dolf de Roos - Money in Real Estate

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Published by bongi

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Categories:Types, Business/Law
Published by: bongi on Oct 03, 2010
Copyright:Attribution Non-commercial

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02/28/2014

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Introduction
D
o you dislike your job, distrust your boss, dread eachday, and fear you might lose the job you can’t stand? Well, if you do, then you’re like millions of other Ameri-cans today who want the freedom that more money  would bring. However, unless you’re willing to take massive ac-tion today, in 10 years’ time you will still dislike your job, dis-trust your boss, dread each day, and fear you might lose the job you can’t stand, with the only difference being that you’ll be 10 years older and still longing to be rich, but with 10 years of liv-ing gone forever.Everyone wants to be rich, but few people know exactly  what that means. If you cannot create a mental picture of whatbeing rich means for you, how will you ever achieve it? Let’screate that image together.Imagine being awakened by the sun (no ear-splitting alarmclock for you). Your leisurely breakfast is interrupted by a callfrom a real estate agent asking if you want to sell one of thebuildings you bought the previous year for a profit of $150,000. As you gaze out over the ocean, sipping your freshly squeezedorange juice, you weigh the relative merits of selling and de-cide, in this instance, to keep the building. Your breakfast wasinterrupted and you still have more decisions to make today,such as whether to go snorkeling or surfing and where to havedinner tonight. But with this one business decision, your work-ing day is over. Are you ready to put in the effort to go from where you are
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now to this idyllic scenario? You can make these dreams cometrue with real estate. There’s work involved, to be sure—someof it will be physical, but most of it will be mental. As you read through
The Insider’s Guide to Making Money in Real Estate 
, you might find ideas that challenge what you be-lieve about real estate. Those are the types of ideas that canmake huge differences in your life. Remember that this is an“insider’s guide.” Unlike the stock market, where insider trad-ing can land you huge fines or even jail time, real estate insiderinformation is not only legal, it’s also a critical part of creating  wealth. Insider information also implies that there will bestrategies that are different from what you might have heardthrough others. Rather than opinions or guesses, you’ll learnthe actual facts from successful real estate investors who havehad years of experience in the market.
HE SAID, SHE SAID
Have you and a friend ever had completely different reasons why you should do something and yet came to exactly thesame conclusion? If two different patterns of logic give yousame the answer, that gives you a more confident feeling thatthe conclusion must be right. Well, that’s what has happened for the authors of this book,Dolf de Roos, author of the best-selling 
Real Estate Riches— How to Become Rich Using Your Banker’s Money 
, and DianeKennedy, author of the best-selling 
Loopholes of the Rich— How the Rich Legally Make More Money and Pay Less Tax 
. Dolf has always promoted real estate as not just a little better thanother forms of building wealth, but actually orders of magni-tude better. Diane, a CPA to some of the nation’s most wealthy 
INTRODUCTION
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people, looks to real estate for the tremendous tax benefits. Inother words, he said, “More income!” and she said, “Less tax!”and they both said “Real estate!”
DOES THIS STUFF REALLY WORK?
Is it really possible to make money investing in real estate?This is an easy question for us to answer. We, the authors of this book, have both been active investors for over 20 years.In fact, we added it up and found that together we have 50 years of experience in real estate (and we looked at eachother thinking “That makes
 you 
quite old!”). And, even moreimportant, despite our active schedules due to our respectivebusinesses and speaking calendars, we are both still prolificreal estate investors.Dolf was offered a job at $32,000 per year when he graduated with his Ph.D. in engineering. His classmates would have beendelighted with that offer. But, Dolf had a decision to make. Yousee, he had also closed on a property that made him $35,000 justthe week before he was offered the job. What choice would youhave made—making $32,000 per year, working 50 weeks per year, showing up willing and eager to do your boss’s bidding, day after day after day, or making $35,000 after one week’s activities?Of course if you did not take the job, you would still have to de-cide what to do with the rest of the year. You might decide to work one more week hoping to repeat your success, or maybe you’ll just wonder what to have for lunch and whether you’re go-ing swimming in the morning or the afternoon. For Dolf, the de-cision was easy. Dolf spends time doing what he loves and alarge part of what he loves is real estate deals.Diane’s discovery of the merits of real estate investing was a
I
NTRODUCTION
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