Real Estate Information Archive

Several business books suggest three ways to become financially independent. It is said that these three methods of building wealth create "multiple streams of income" - a never-ending financial source that continues to grow. So - what are the three "magic beans" that, when planted, yield wealth?

They are: 1) investing in real estate, 2) investing in the stock market, and 3) running your own business. To achieve excellence in any of the three, you must have extensive knowledge, be willing to take risks, and have a passion for achievement.

First comes knowledge. Who do you think might have the best grasp on the ins and outs of real estate - a doctor or someone in the real estate business? An understanding of contracts, real estate law, pricing and values, marketing, financing and math would all be vital, wouldn't they?

Risk-taking does not come easily for most of us. Unless we put our money at risk, however, we cannot expect a favorable return. If you don't believe that, just take a look at what your checking or savings account is paying right now!

Finally, we must have a passion for achievement. That means a burning desire, not a lukewarm, milquetoast attitude. Anything less will leave us in the dust of others who display that desire.

Wealth, a.k.a. financial independence, does not arrive on our doorstep in the form of a visit from Publishers Clearinghouse. Nor does the lottery or an inheritance often pay us a visit. We are able to achieve wealth only by choice. It comes slowly at first, and then builds to a crescendo beyond our wildest imaginings.

It's the "at first" that will govern the final result. So, then, it's your choice - real estate, stocks, your own business, or all three!

STUCK IN PORT?

Imagine the Pearl Harbor attack of 1941 going unanswered . . . Many of our ships found at anchor by attacking planes went down, never to leave the harbor again. Imagine the economy floundering with interest rates at 12%, and learning that the head of "the fed" has taken a six-month, non-working vacation to Tahiti. Imagine how you would have felt on September 12, 2001 if our president had appeared on TV to tell us how sorry he was about the attacks without announcing action to protect us in the future.

We expect our nation's leaders to act in times of crisis, don't we? But - what do we expect of ourselves when a family crisis arises, our sales flounder, or we notice the numbers on our scale beginning to creep upward to uncomfortable levels? Do we set sail, or lie at anchor hoping "someone" will do "something?"

Babe Ruth sailed against the wind more often than with it. He is remembered for his home runs - 714 of them - yet he struck out 1,330 times in his career. Best of all, he set sail and got out of the harbor (took his bat to the plate) 8,399 times. Had he stayed safely in the dugout, he could have avoided all those strikeouts.

So - what about you? Having difficulty setting sail lately? Perhaps it's time to give your engine a little maintenance, or take out a needle and thread to repair torn sails. You may also want to pull out your map to redefine the direction you'll be taking in coming months.

If you've been spending too much time at the "Captain's Table" and not enough time on the bridge with the wheel in your hand, perhaps some planning now will send you full speed ahead out of the harbor and with some exotic port of call in sight. Bon Voyage!

You've heard that it's good to "take time to smell the roses." You may have also read how Steven Covey encourages you in "Seven Habits" to take time to "sharpen the saw." You no doubt have also experienced the frustration of trying to find even a spare moment for yourself.

Why do so many sources advise taking time off for yourself for thoughtful introspection? Don't they know it's impossible in today's fast-paced world of money, soccer games, career challenges, family responsibilities, church & school activities, and so much more?

In fact, our society is totally preoccupied with all of the above. For those living in a big city, or even the suburbs, the pressure is even greater. Those who live in the country at least enjoy a little peace and serenity at the end of the day.

How did this happen? It's simple - or at least it was in the 1950's. Back then there were two kinds of soap - Lifebouy and Ivory. There were four automakers - GM, Ford, Chrysler, and American Motors. There were no computers or Internet, and long-distance was used only to inform relatives of illness or death. A schoolteacher's most serious behavior challenge was passing notes in class. Families watched "I Love Lucy!" together. There was no MTV. Divorces were rare.

Today the choices that face us each day are awesome. Which of many Internet providers or long-distance services should you use? Which cell phone or notebook computer should you have? Where will you find the money for the special dress, chauffeur, and professional photograph required for your daughter's fifth-grade "Prom"?

The world is spinning so fast, and isn't likely to slow down soon. As usual, relief must come from within. While you can't change the world's pace, you are free to change and simplify your own life. Simplify, simplify, simplify. Most importantly, take time to create those special moments that "take your breath away."