The difference between being rich
and being wealthy is simple. Without changing
your current lifestyle, would you still be able to keep your current standard
of living in ten years if you stopped working today? If you answered, “no”, you are not
wealthy. Being wealthy comes from
residual income. Weather it is the hefty
interest checks individuals like warren buffet and bill gates make each year on
their mass amounts of money in the bank, or if it’s residual income from 30
households paying you rent each month on houses that are paid off. But what does it take to be wealthy? What character traits set those that are
wealthy apart from those who are rich?
A true
understanding of where you want to be.
“Successful people are what they
think about most of the time.” Brian
Tracey
The ability
to make decisions
Bottom line, avoid analysis paralysis.
A good team
Sometimes finding a good team is only
done by trial and error. There are ways
around this learning curve. There are
resources such as Dennis Henson’s AREA meetings that you can go and network with
investors, and market professionals for little to no cost. If you
are not in the DFW area, more than likely there are industry professionals in
your market that can help you network with the right individuals to help you achieve
your goals.
Understanding
leverage
Would you rather put 20% down on a
deal, pay 13.99% interest and 4pts, or buy a deal using all cash?
For more information on Hard Money investment financing in Texas, call me at
214-650-5493
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