CASH FLOW PLANNING
At least once every year investors need to sit down at the kitchen table with a big yellow pad and plot out exactly where they’re headed, where they’ve been and most im¬portantly, are they still on course to get where they’d like to be! You’d be amazed how many folks I talk to who don’t have the foggiest notion whether they are headed in the right direction or not! If you don’t know where you’re going, it’s nearly impossible to tell where and how you’ll end up. That’s far too much uncertainty.
Making a million dollars in real estate is
a lot harder than most people say its is. That’s the bad news, but there is some good news too! Making the second million is a good deal easier than most folks think it is. Strange how it works out that way, but I think I can tell you the reason why.
Most instructors who teach people how easy it is, haven’t done it themselves, so they really don’t know how. Most investors, who have made a million starting from scratch, get very protective about their new wealth and likely won’t tell you anything. Naturally there are a few exceptions.
Even if you have a few dollars in reserve, you must never forget a basic principal of wealth-building-you can’t get very rich writing checks; it’s deposits that will get you there.
