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  • Entrepreneurs

    Can I invest in property with little money?

    That is our accountant's office, but is listed as our registered address; so not sure it is quite as busy as 470 companies in reality!


    Rob

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    **All comments made from this account are not to be relied upon; you should always seek independent advice**

    Rob Davis BA (Hons) MSc MRICS

    Co-Founder

    Harben House, Finchley Road, London NW3 6LH

    Mobile: +447 92112 5161

    Email: Rob.davis@joiningventures.com

    Website: http://www.joiningventures.com


    There are three key lessons from the RDPD series of books.

    Assets & Liabilities

    An Asset is something that puts money into your pocket, a Liability is something that takes money out of your pocket each month.

    Cashflow Quadrant

    Understanding how to transition from "E" to "S" to "B" to "I" .

    All other words in the books are a very long winded way of explaining and motivating you on what I've just summarised above. Don't get me wrong it's a great read.

    Where I disagree with Kiyosaki is on "Good Debt vs Bad Debt" which is what you're alluding to with your original post.

    Debt is debt.

    I absolutely hate the way Kiyosaki is encouraging you to ask the question in the thread title "Can I invest in property with little money?"

    You can't, it's dangerous.

    The third good lesson he teaches is rather than saying "I can't afford it" he encourages you to ASK "HOW can I afford it??"

    That's the key to building a successful investment portfolio.

    Forget getting into Property with little money, focus on rectifying things so you DON'T have little money.

    And that is where I part with Kiyosaki, the answer to that question is not what he suggests, but hard work, focus on career development or change, or start a business.

    High paid job or business to CREATE wealth, Investment portfolio to STORE & GROW wealth.

    Figure out how to bank 100 grand plus, as your starting pot THEN look at becoming an Investor.

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    I read it in late 90s and it changed my life but we don’t have Donald Trump as PM

    Some of it still works with a company formation but even then it’s still taxed higher then personal BTL

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    Learn Change and Adapt ?????

    All comments are for casual information purposes only. If you wish to rely on any advice I have given please ensure you obtain independent specialist advice from a third party. No liability is accepted for comments made.


    Out of interest DL which part changed your life, what were the specific bullet points you actioned?

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    Basically the fact that there is good borrowing and bad borrowing

    ie borrow mone for something that puts positive cash flow only

    ie for a property

    dont borrow for a car ect

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    Learn Change and Adapt ?????

    All comments are for casual information purposes only. If you wish to rely on any advice I have given please ensure you obtain independent specialist advice from a third party. No liability is accepted for comments made.

    Surely you didn't need Kiyosaki to teach you that?!

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    To be truthful yes it did teach me a lesson and I am not alone that’s why the book is a best seller

    I lived in a beautiful country property with no mortgage and I went to visit my local bank manager and I started borrowing big time

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    Learn Change and Adapt ?????

    All comments are for casual information purposes only. If you wish to rely on any advice I have given please ensure you obtain independent specialist advice from a third party. No liability is accepted for comments made.


    I fully agree with your comments RDPB is not the best book out there and is a little narrow focus. Don’t get me wrong it is a good book, but to much focus on properties I think.

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    Great! I looked at his teaching from a different point!

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    Great! I looked at his teaching from a different point!

    Out of interest what points did you take from it?

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