Hi Readers- One thing you'll begin to see is how I love a good self improvement book!
At Tyler Ward Estate agents & Architecural and Building Services -one book stands head and shoulders above them all - the daddy of them all - and thats Rich Dad Poor Dad by Robert Kiyosaki- It simply is A MUST READ- not just to try and work out how to become financially free- but it really brings home how conditioned our minds become over time.
As somone who trained and qualified as a chartered accountant, its premise is quite basic i.e buy assets that produce income and that we are conditioned to go to school to get a job for life - however the style its written in really makes you realise how little we question the choices are parents conditioned us to make.
The title of the book loosely corresponds to a true story whereby the author has his own biological dad who believes in education and getting a professional job to do well in life, and his best friend's dad who is a entrepreneur and who believes in making money via businesses.
As someone who pursued the former and who how follows the latter path, the book has had a profound impact on my life and I know its had a smilar impact on my others I have met.
Howeve the book isn't just about getting rich, its about cash flow and lifestyle and that where its impact on property people is so important.
Most people chase equity growth i.e buy a property for 100k and hope it goes up and value.
What I focus is on cashflow. I.e buy a property thats worth 100k (hopefully buying it at discount for 75-85k - this will be discussed in a later blog ) and making sure that the rent i.e 650pm is greater than the mortgage i.e 400pm and buying multiple properties to produdce extra cash flow.
That way the extra cash flow pays for my expenses e.g running my car.
We all hope that the equity growth comes, but its dangerous to reply on it.
Quite simply - go and buy this book - I can't recommend it highly enough
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