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Saturday, February 23, 2013

Learning From Real Millionaires...

I had the opportunity recently to attend a conference where the majority of the attendants were field supervisors in a construction related industry. As a project manager I send these guys out to my different projects and they are basically in charge of getting the work done.

The reason I bring this up is because their job would not be the first one to come to your head if I asked you to mention a high-paying profession.

The interesting part is that these individuals mostly have a High School diploma only, they live in rural parts of the country like Alabama, Mississippi and Louisiana, they mostly drive trucks (American of course), many of them consider themselves "rednecks" and...they are millionaires!

That's right. You would never guess it by looking at them because typically the image of a millionaire that is presented to you and me is something like this:

Yet most of these guys look like this:

Saturday, February 9, 2013

How I Messed Up A Potential Great Deal

In real estate like so many other business opportunities, every once in a while a "deal" comes up and you have to jump on it faster than you can say "deal or no deal". Well, it turns out that I just learned exactly how fast that needs to be…

Saturday morning I am looking in the multiple listing service to see what potential house flipping deals I might find. I have specific target areas, at specific price points and I look for specific conditions.

For example, one of the areas that I look in is close to me, has good schools, houses are not too old and resale values are in the upper $100's - $250k range. I look for houses that are at least 3 bed/2 bath with a basement or if they don't have a basement then it has to be a 4 bedroom.

In my search I noticed a house in this area listed at $99,000. The price was attractive and I dug some more…

Thursday, February 7, 2013

7 Ways To Change Your Family Financial Tree

As a father I have the ability to change my family tree. That means that If I come from a family where money was a problem, either there wasn't enough of it, it wasn't managed correctly or it was wasted, then I am completely capable of changing that "inheritance".

We parents are responsible for imparting on our children numerous life lessons, teaching them about money and building wealth is one of them.

The way parenting works you can’t say one thing and then do another…

What do you think happens when a child observes the following behavior: