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Just remember the old saying, "Never ask an...
Posted on 2010-Feb-11 at 11:32
Just remember the old saying, "Never ask an encyclopedia salesperson if you need an encyclopedia
When I interview any paid professional, I first find out how much property or stocks they personally own and what percentage they pay in taxesAnd that applies to my tax attorney as well as my accountantI have an accountant who minds her own businessHer profession is accounting, but her business is real estateI used to have an accountant that was a small business accountant, but he had no real estateI switched because we did not love the same business
Find a broker who has your best interests at heart'; spend the time educating you, and they could be the best asset you findJust be fair, and most of them will be fair to youIf all you can think about is cutting their commissions, then why should they want to be around you? It's just rolex watch knock off simple logic
As I said earlier, one of the management skills is the management of peopleMany people only manage people they feel smarter than and they have power over, such as subordinates in a work situationMany middle managers remain middle managers, failing to get promoted because they know how to work with people below them, but not with people above themThe real skill is to manage and pay well the people who are smarter than you in some technical areaThat is why companies have a board of directorsYou should have one, tooAnd that is financial intelligenceBE AN "INDIAN GIVER": This is the power of getting something for nothingWhen the first white settlers came to America, they were taken aback by a cultural practice some American Indians hadFor example, if a settler was cold, the Indian would give the person a blanketMistaking it for dior big bags a gift, the settler was often offended when the Indian asked for it back
The Indians also got upset when they realized the settlers did not want to give it backThat is where the term "Indian giver" came fromA simple cultural misunderstanding
In the world of the "asset column," being an Indian giver is vital to wealthThe sophisticated investor's first question is, "How fast do I get my money back?" They also want to know what they get for free, also called a piece of the actionThat is why the ROI, or return of and on investment, is so important
For example, I found a small condominium, a few blocks from where I live, that was in foreclosureThe bank wanted $60,000, and I submitted a bid for $50,000, which they took, simply because, along with my bid, was a cashier's check for $50,000They realized I was seriousMost investors would say, rolex diamond watch aren't you tying up a lot of cash? Would it not be better to get a loan on it? The answer is, not in this caseMy investment company uses this as a vacation rental in the winter months, when the "snowbirds" come to Arizona, and rent it for $2,500 a month for four months out of the yearFor rental during the off-season, it rents for only $1,000 a monthI had my money back in about three years Now I own this asset, which pumps money out for me, month in and month out
The same is done with stocksFrequently, my broker will call me and recommend I move a sizable amount of money into the stock of a company that he feels is just about to make a move that will add value to the stock, like announcing a new product I will move my money in for a week to a month while the stock moves upThen, I pull my initial dollar amount out, and stop worrying louis vuitton fake bags buy about the fluctuations of the market, because my initial money is back and ready to work on another assetSo my money goes in, and then it comes out, and I own an asset that was technically free
True, I have lost money on many occasions But I only play with money I can afford to loseI would say, on an average ten investments, I hit home runs on two or three, while five or six do nothing, and I lose on two or threeBut I limit my losses to only the money I have in at that time
For people who hate risk, they put their money in the bankAnd in the long run, savings are better than no savings But it takes a long time to get your money back and, in most instances, you don't get anything for free with itThey used to hand out toasters, but they rarely do that these days
On every one of my investments, there must be an upside, something for balenciaga bag buy fre
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