Robert Kiyosaki’s book ‘Rich Dad, Poor Dad’ opened the doors wide open on the topic of real estate, and the potential profit and success that can be achieved without a formal education. The book emphasized how a formal education wasn’t necessarily the path to success, and many wealthy business owners and investors had simply attained success through other means.
Real estate investing isn’t for everybody, but it’s an industry that has attracted many successful and unsuccessful people. Educated or not, investors can be found in all ages and backgrounds but it seems that the only surety to success is found with experience. Kiyosaki’s book outlines how two people from completely different walks of life have determined success. One works a standard 9-5 job and finds comfort and security in earning a static paycheck; sure, they may get raises and move up the corporate ladder, but there is not a high level of risk involved and they may have to work extra hours and make sacrifices in other areas of life in order to reach their best position. The ‘Rich Dad’, on the other hand, is highly involved in the real estate market; he is obtaining wealth by creating his own business, and achieving personal goals in the process. Ironically, Rich Dad is getting richer each month without a formal education or having to work at an official company. He is learning the industry with a direct, hands-on approach. There is not training involved here.
Poor Dad on the other hand is struggling to reach his full potential with a career. He is clocking in time at a job in order to pay his bills, secure his future, and spends weekends relaxing, possibly making time for family and friends. Rich Dad also has spare time; however, it is a part of his life so he doesn’t need to work 40+ hours each week and then take time off. When he is earning a passive income, it really doesn’t matter!
By learning the real estate market inside out, a savvy investor can make leaps and bounds towards success. Experience is the key to a steady financial future in this oftentimes turbulent market, but many successful real estate investors have handled and managed the risks involved, and boldly stepped forward to find their next investment property!