Page 110

Unfair Advantage 3. Learn to invest in real estate. Learn how to manage debt to achieve wealth. Rich dad was very aware of Nixon’s change in the rules of money in 1971. That is why, in 1972 while I was in Vietnam, rich dad suggested I follow gold in the papers and take note of how the Vietnamese people responded to the changes in money. In Conspiracy of the Rich, I wrote about handing a Vietnamese fruit vendor a $50 bill and having her turn it down. She was my glimpse into the future and the coming crisis with the dollar, a crisis that is still coming. When I asked my rich dad to explain why I should take classes in real estate investing, he replied, “The dollar is no longer money. The dollar is now debt. If you want to be rich, you need to learn to use debt to grow your wealth.” When I asked if he would teach me, he replied, “No. Invest in your education first.” He did not want to waste his time with someone who knew nothing about real estate and debt. Encouraging me to learn, he said, “I will guide you after you have done your courses. I will be your mentor and your coach, but first you must seek your own education.” I left his office a little dejected. I had no idea where to find any real estate investor education. I knew there were courses to become a real estate agent, but I knew real estate agents are not investors. I knew this because my rich dad often made jokes about stockbrokers and real estate brokers, saying, “The reason they’re called brokers is because they’re broker than you are.” Explaining further, he said, “Most real estate brokers take courses to get their license to sell real estate, not invest in real estate. A real estate license allows them to sell houses and earn money in the S quadrant. Most real estate agents know little to nothing about real estate in the I quadrant.” Leaving his office, I knew I needed to find real estate education for the I quadrant. I knew I did not want to be a real estate broker in the S quadrant. Late one night, as I prepared for an early morning flight at the Marine Air Station, an infomercial came on TV, enticing viewers to sign up for a real estate investment course. I dialed the number on the screen and signed up for a free preview to be held in a few days. At the free 101

Profile for Jamiel Cotman

Unfair advantage ebook  

by Rich Dad, Robert Kiyosaki

Unfair advantage ebook  

by Rich Dad, Robert Kiyosaki

Profile for jfcotman
Advertisement