XML FeedsMillionaire Real Estate Investor: Introduction and Overview
by: Brian.Brady on October 17, 2007 22:29:38 4 comments »
A Millionaire Real Estate Lender is a mortgage advisor who knows how to help Millionaire Real Estate Investors build their net worth. Recommending appropriate loan solutions, for aggressive investors in the wealth acquisition stage of their life, has been a strength of mine since I started my lending career. I draw upon my background as a securities broker, apply suitability principles, and integrate the loan into a financial plan. This series will deal with the principles taught in Gary Keller's book, The Millionaire Real Estate Investor.
The Overview chapter introduces the reader to Mr. Keller's philosophy towards succes as a property investor. He opens up by explaining the importance of modeling. Bill Thomason, NLP Trainer, defines behavior modeling:
Behavior Modeling is a primary way that humans learn. Children "model" or copy the behaviors of the people in their world. School children, for example, emulate their heroes. As adults, people tend to identify with people at their own economic level or the one just above them. In business, you may look for mentors or coaches to guide your career path. You model behaviors from people whom you perceive as possessing the qualities and abilities you want to emulate.
If we are to achieve success in investing, then it helps to choose a successful system or methodology to "model". In Security Analysis, Benjamin Graham outlined the "value" approach to investment analysis. Warren Buffett describes himself as a value investor. In actuality, while Mr. Buffett is simply modeling the system and behavior of Benjamin Graham in his approach. Gary Keller suggest that we do the exact same thing that Warren Buffett does when Mr. Keller suggests we "model" successful people. In other words, don't reinvent the wheel; copy other people's success.
Paraeto's principle reminds us that 20% of our efforts will determine 80% of our results. Gary Keller describes the three areas of focus for the Millionaire Real Estate Investor:
- Criteria identifies potential deals.
- Terms determine the real deals
- Your network supports all of your deals.
Closing the Overview chapter, the author identifies the four stages a Millionaire Real Estate Investor progresses through:
- Think a million- identify your goals
- Buy a million- acquire the property portfolio
- Own a million- improve the property portfolio to a certain equity position
- Receive a million- have the property portfolio produce seven figures annually
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· http://www.TheRealEstateTextBook.comA well put together presentation. I followed the lead to Jeff Brown's article on baby Boomers and the Tax Man Cometh and it was excellent as well. Good Stuff! . You site looks awesome Brian and It should make you very proud. Beautifully done!
Permalink October 17, 2007 23:50:04 Permalink October 18, 2007 04:33:47 · http://www.floridamortgagedaily.comBrian,
Nice job on the new site, whether Jeff's brain's or not. I congratulate you on upgrading your blog to this and I look forward to more great work.
Are you still blogging on AR? I have not been since the end of Sept as it requires cut and pasting my current blog posts over there, which I will do later, but I do not have the time right now.
I have to admit I have not read this book yet. It is sitting on my stack of books to read, about 4 or 5 down, so it will be read soon. With your post about it, I feel the need to move it to the #2 slot as I think I may need to apply things now.
Keep up the good posts!
Permalink October 18, 2007 06:32:29 Thanks Rob and Chris !
I've been posting lead-ins on AR, Rob. I'll be posting chapter summaries of MREI here, on Mortgage Rates Report for the next 3-4 weeks.
Chris, you asked me, on Active Rain...
Brian Brady, are you a fan of the Keller Williams culture or are you just trying to get to me thru Gary Keller? LOL
The answer is...both. I''ve been involved with KW Market Centers since 1999. I was approved as an OP in 2001 (we didn't open the MC). As for the latter part of the question? I want to evoke a visceral reaction in all of my readers; if it takes Mr. Keller, as a conduit, to evoke that in you, I'll do it shamelessly. ; )
Permalink October 18, 2007 06:57:42This post has 3 feedbacks awaiting moderation...
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