Reviews
Gosh...today was a hectic day. Went out yesterday afternoon for a meeting with my non-profit,non-government environmental group to discuss about an upcoming new e-newsletter. Thereafter, I went to work at about 1900Hrs local time and got off work this morning 0830Hrs. Straight away went to the zoo to do up some recruitment stuffs for the new batch of volunteers and there after went to give tuition to my colleague's daughter. And in the evening, came back home to help my friend to do some video editing. Overall, a very very very EXHAUSTING day! Whew! Glad it ended with me writing this blog.
Next, since I've finished reading Ken's book, The ABCs to Real Estate Investing, I'd like to make a personal reviews on it:
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This book is great! It shows you what he as done and what to look for in any deals. Also in every chapter, there are exercises for the readers to follow up and what they have read. It started by clarifying all the myths and believes that people have. Things/issues that people have set in their mind that prevents them from taking that very first step.It also followed by the a chapter which I feel is the most important one before proceding on to the rest of the book. It is setting GOALS. And the goals set are really SPECIFIC. So much so that one will not loose track of what they are heading for.
It then went to talk about how to go around doing IT. Building a team (knowing who to look for to be in your team), Research, understanding what is a real deal and a swampland. Basically, the preparation phase. A really in dept step by step guide in SEARCHING for that deal.
After locating the deal, next is to analyse it. Calculating the Net operating costs and such. After getting bank loans and what to look for when calculating. From there, one will be able to derive a offering price for the deal. And the book also explains the neccesary stuffs to note when purchasing over a deal. Doing due diligence to make sure the deal is in the expected condition before fully taking it over from the seller. Also, what to do AFTER aquiring it.
He is a believer of buying the right property to hold on to it to generate cashflow. Nonetheless, this book he includes what one should do to sell the property at the best possible price.
Now, talking about the negative points on this book;
IF you are looking for a slow start, you will only find the first few chapters on the preparation part useful. He base his examples on big deals. Like plexes and such. Pretty hard to apprehend especially for newbies like me who wants to start small. But after taking a step back and looking over the book again, I think it can work. Just take his advices and use it on what you are looking for. 2BR1BA or something like that. I definately will give it a shot! No point reading a book and not put it into actions.
I must say, I will follow the advice of this book and work with it. And for all out there who wants to start, it's really a good book to keep as reference. Especially chapter 7: "Is it really a Diamon". This teaches you HOW to caluclate the intigrinty stuffs and puting up offer price.
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Since I've bought the 6 steps in buying a property, I will make a comparison again when I finish that. Which would most probably come after I finish the "Choose to be rich".
While working on shift last night, i ran into the book "7 Habits of Highly effective people". A book which I was quite skeptical about. However, I gave it a shot and read the first chapter. It caught my attention. It made me wanted to go on to finish up the book. But I stopped. I didn't want to deviate from my priority. So now, I'm thinking if i should read up the book "7 habits of highly effective people" or "6 steps in buying a property". Will made a decision again on a later date when I finish what I have now.
Last thing to add, I've listen the first 4 CDs of "Choose to be rich". The first 4 CDs is the THINK IT portion. After going thru them, I've realized how important it is to have a DESIRE for something. Setting a goal is really not enough. There should be a strong enough reason to cause a desire to make one want to achieve the goal set. If not, a goal is just only a goal. A mere target that will eventually be forgotten with time. DESIRE is everything, it will push you through even in the worst situation. Without it, even the simplest tasks would be a chore seem to hard. With it, anything is possible. One's biggest enemy is one's self. You can do what ever you want to. All you need to do is dare to dream, and put your desire in it. Nothing is impossible! Same goes for achieveing financial freedom. The person must find the reason WHY, and hence this DESIRE will push him/her through anything!
I have my DESIRE to be financially free. And I have more of it coming. As said before in my first blog, I want to be financially free so that I can dedicate my life to serving the community without worries! Also, such that my family can concentrate on whatever they want without worrying financially.
0154Hrs, 7th March 2005 Singapore time...signing off~
Next, since I've finished reading Ken's book, The ABCs to Real Estate Investing, I'd like to make a personal reviews on it:
------------------------------------------------------------------------------
This book is great! It shows you what he as done and what to look for in any deals. Also in every chapter, there are exercises for the readers to follow up and what they have read. It started by clarifying all the myths and believes that people have. Things/issues that people have set in their mind that prevents them from taking that very first step.It also followed by the a chapter which I feel is the most important one before proceding on to the rest of the book. It is setting GOALS. And the goals set are really SPECIFIC. So much so that one will not loose track of what they are heading for.
It then went to talk about how to go around doing IT. Building a team (knowing who to look for to be in your team), Research, understanding what is a real deal and a swampland. Basically, the preparation phase. A really in dept step by step guide in SEARCHING for that deal.
After locating the deal, next is to analyse it. Calculating the Net operating costs and such. After getting bank loans and what to look for when calculating. From there, one will be able to derive a offering price for the deal. And the book also explains the neccesary stuffs to note when purchasing over a deal. Doing due diligence to make sure the deal is in the expected condition before fully taking it over from the seller. Also, what to do AFTER aquiring it.
He is a believer of buying the right property to hold on to it to generate cashflow. Nonetheless, this book he includes what one should do to sell the property at the best possible price.
Now, talking about the negative points on this book;
IF you are looking for a slow start, you will only find the first few chapters on the preparation part useful. He base his examples on big deals. Like plexes and such. Pretty hard to apprehend especially for newbies like me who wants to start small. But after taking a step back and looking over the book again, I think it can work. Just take his advices and use it on what you are looking for. 2BR1BA or something like that. I definately will give it a shot! No point reading a book and not put it into actions.
I must say, I will follow the advice of this book and work with it. And for all out there who wants to start, it's really a good book to keep as reference. Especially chapter 7: "Is it really a Diamon". This teaches you HOW to caluclate the intigrinty stuffs and puting up offer price.
------------------------------------------------------------------------------
Since I've bought the 6 steps in buying a property, I will make a comparison again when I finish that. Which would most probably come after I finish the "Choose to be rich".
While working on shift last night, i ran into the book "7 Habits of Highly effective people". A book which I was quite skeptical about. However, I gave it a shot and read the first chapter. It caught my attention. It made me wanted to go on to finish up the book. But I stopped. I didn't want to deviate from my priority. So now, I'm thinking if i should read up the book "7 habits of highly effective people" or "6 steps in buying a property". Will made a decision again on a later date when I finish what I have now.
Last thing to add, I've listen the first 4 CDs of "Choose to be rich". The first 4 CDs is the THINK IT portion. After going thru them, I've realized how important it is to have a DESIRE for something. Setting a goal is really not enough. There should be a strong enough reason to cause a desire to make one want to achieve the goal set. If not, a goal is just only a goal. A mere target that will eventually be forgotten with time. DESIRE is everything, it will push you through even in the worst situation. Without it, even the simplest tasks would be a chore seem to hard. With it, anything is possible. One's biggest enemy is one's self. You can do what ever you want to. All you need to do is dare to dream, and put your desire in it. Nothing is impossible! Same goes for achieveing financial freedom. The person must find the reason WHY, and hence this DESIRE will push him/her through anything!
I have my DESIRE to be financially free. And I have more of it coming. As said before in my first blog, I want to be financially free so that I can dedicate my life to serving the community without worries! Also, such that my family can concentrate on whatever they want without worrying financially.
0154Hrs, 7th March 2005 Singapore time...signing off~
posted by Wilson Ang a.k.a ShamU at 5:54 PM
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