I have long thought that “Real Estate Investing” by McLean and Eldred was perhaps the top book for beginning real estate investors. But after reading “Real Estate Investing for Dummies,” I now think the Dummies is equally as good, although it may not cover quite as much ground. Dummies is excellent in what it presents because it written in a manner that is easily understood, it provides sufficient depth, and it covers the key topics.

I particularly like the chapter on “Due Diligence.” The chapter does an outstanding job of describing the components of reviewing books and records, and inspecting a property that you have bid on and have had the bid accepted by the seller. Purchase contracts provide that the sale can be canceled without loss of earnest money if the buyer’s physical inspection isn’t satisfactory. Following the suggestions in this chapter assure that you won’t be surprised with what you get, and gives tips on how to cancel or renegotiate the deal, if you need to.

I also like the final chapter, which lays out in plain English the time tested (non-infomercial guru) principals of how to make money in real estate. Buy when market conditions are conducive to buying, when properties are distressed and available as foreclosures or on favorable terms with seller financing. Add value to properties. Hold on to properties that offer long-term stable growth in rental rates. Refinance to tap into investment property equity and to further your real estate investments. Read…

“…we do not spoonfeed our students.”, said a professor from Singapore Management University.

I had an interview there recently. I was with four other prospective interviewees who were like me, trying to secure a place in a relatively new establishments in Singapore.

“The Singapore education system is a conveyor belt.”, remarks a Polytechnic student in Singapore.

I was sighing as I was pondering over her quotes.

From a young age, I have been told that I must make it to university and be a lawyer or doctor. For years, I have been told to get good grades and degrees. For years, I have been taught to be a cog in this ‘machine’ called school.

I remembered Robert.T.Kiyosaki (author of Rich Dad,Poor Dad) criticizing education systems in schools.

I was chucking as I was listening to the professor’s speech. In an education system, everyone goes through a fixed set of syllabus. Everyone is taught the same rules and protocols. In that case, how can it breed initiative and entrepreneurship if all is taught to conform?

Some of you may argue that every university has its own style of teaching and incorporating entrepreneurship, I beg to differ. By choosing the typical (and safe) route to university, everyone is now a conformist. Learning comes through experience, it doesn’t comes through rote learning. A better oiled cog is still a cog. It is still part of the system.

Am I part of a cog in this dreadful education system which Robert.T.Kiyosaki described?

In that case, you may be asking why I am still going into University. The reason is simple. I plan to equip myself with the essential skills necessary to be an entrepreneur. Thereafter, I will remove myself from the ’system’ and embark on my entrepreneurial dream.

I guess I am the intelligent cog which studies how the machine works and learns how to jam and defeat it.

The author is a student and budding entrepreneur.
Please goto my blog @ http://www.therichestmanonearth.blogspot.com

For information on ways to be an entrepreneur, please visit The Millionaire Mind

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