Friday, January 13, 2006

Real Estate Thoughts

I have recently read 2 good articles real estate investing that I wanted to share. My only experience with real estate has been my 2 houses (not at the same time...bought and sold my first one and then bought the one that I am currently living in). My first house was a great investment and I am hoping that my current one will turn out to be also. What about rental properties and vacation homes though? I have no experience with how these work, but I think that they would be good investments.

The first article that I read was on MSN Money and it was about real estate investing, more specifically, real estate seminars. I personally have never taken any real estate investing seminars or even read any books on the subject, but real estate investing in general does interest me. On my way to work lately, there is a sign for a real eastate seminar coming up about how to use your 401(k) to buy a house. Wow...I feel bad for the people that pay money for that sounds pretty shady to me and unless I am missing something here, doesn't sound like a good idea.

The second one that I read last month was by Robert Kiyosaki entitled "Investments That Pay Today - and Tomorrow" and I agree that I need to increase my cash flow. Right now, my investments are all concentrated on stocks and I am counting on capital gains for my future. Robert suggests investing in rental property in order to increase cash flow, he says that "when you invest for cash flow, you're investing in a money-back guarantee. If you invest for capital gains, you invest in hope." Good point and something that I would like to look into.


Blogger busy joe park said...

Hey what's up? I was searching through blogs and came upon yours. I'm interested in finance and investing and thought it'd be cool to share some thoughts with like-minded people.

I saw a comment you left on Neo's blog about Turbo Tax, going to a professional, etc. Would you recommend Turbo Tax for completing taxes? Have you tried any other software?


1/14/2006 5:49 PM  
Blogger RS said...

Busy Joe,
Glad you found us, happy to have you here.

As for tax software, I personally like Turbo Tax the best. I once used Tax Cut because it was cheap and TT got a lousy review that year, but didn't love it. The problem is, I cannot tell you exactly didn't do anything wrong, it was just a general feeling that I had that I liked using TT better. As for a professional vs software, I have now realized that I don't have anything too special or complicated about my taxes, so I don't need to pay $200 or more to have an accountant do my taxes. For some people, a professional may make total sense, just not for me. Overall, I give Turbo Tax the thumbs up.

If you have any more specific questions about your position and if you need an accountants help, just let me know. Again, it is good to hear from you. Good luck.

1/15/2006 6:51 PM  
Blogger RS said...

Another thought on TT, if you have a Media Play store around where you live you can get it there and it should be about 50% off. They are going out of business and they have a ton of boxes left. You could possibly check online too and see if they have it with 50% off.

1/15/2006 6:52 PM  
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7/20/2010 3:04 AM  
Blogger FSAL said...

Robert Kyosaki has some good articles. The talk of real estate seminars made me think of Carlton Sheets.

That program was the bigest scam ever. Offer you a $9.95 trial for 6 weeks but wait 5 weeks to send it out to you if it ever arrives and they charge your credit card for $800 for the program all the while your thinking you still have 3-4 weeks to return it.

The program is garbage materail as well. Buy real estate with no money down. One of the actual suggestions was this. If you find a property you want to buy and it has lots of trees contact a lumber company and see if they will chop them down adn pay you. Then use that money for a down payment...Really?

Another one was if you have a boat and the guy who owns the property you want happens to see your boat and wants to buy it you can use the boat as a barter for your down payment. I dont have a boat not gonna work for me.

It's been years since I read the program but I recall these instances or somethign similar were the type of suggestions they were giving.

6/10/2011 1:56 AM  

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