Friday, January 21, 2005

Venture Costs to Date

Here is how much money I've spent on this venture to date (not including opportunity costs, time, and whatnot):
  1. Retire Young, Retire Rich (Kiyosaki), 17.95
  2. Cashflow 101 the e-Game (Kiyosaki), $99.00
  3. Flipping Properties (Bronchick/Dahlstrom), $18.95
  4. The Weekend Millionaire's Secrets to Investing in Real Estate (Summey/Dawson), $14.95
  5. Making Big Money Investing in Real Estate (Conti/Finkel), $18.95
  6. Wholesaling for Quick Cash (Cook) and Rehabbing for Big Cash (Cook), $249.00
Total: $418.80

Now, that seems like a lot of money (and it is to someone who decides not to leverage the opportunities in the material), but I figure with just a single flip I will cover the costs - and then some.

2 comments:

Dave and Christy said...

Just wondering if you could give a little input on the books you mentioned. I've read the Kiyosaki one, and though Ifound it a little motivating, I also found it to be rubbish in the sense of practical information. Further, Kiyosaki comes across as a greedy, materialistic snob in most of his books. I'm starting up my rehab business, and I'm curious about the other material you've read.

Dozer

Steve said...

Retire Young, Retire Rich - Good "why-to" book, but don't expect any "how-to" information. Kiyosaki says this several times in the book, and he is right. Good book to start lighting the fire for a beginner. It's what got me interested in REI.

Cashflow 101 the e-Game - Fun game, but not worth the sticker price. Not configurable at all. Most of the education gotten from the game, you can gather from REI web sites.

Flipping Properties - Very good book for anyone interested in the mechanics of flipping properties. Has sample forms, flyers, biz cards, ads, bandit signs, etc., but they are printed in the book (i.e., not on CD). Best getting started book for flipping on the market.

Weekend Millionaire ... - Best all-around book. Different philosophy. Teaches landlording instead of flipping/rehabbing/LO. Shows how to use NOI to give infinite options for deals. Best book on negotiating I've found, too.

Making Big Money ... - Very good book on Lease/Optioning. Gives good examples. A lot of real-world examples that seem to fill-up the book to me. Still very informative.

Wholesaling/Rehabbing for Cash - I haven't gotten these courses yet, but heard they are the absolute best for the money. Many fulltime investors say these are the courses that got them actually making deals.

Hope this helps!