Building Wealth: Achieving Personal and Financial Success in Real Estate and Business Without Money, Credit, or Luck - Softcover

Whitney, Russ

Softcover

ISBN 10: 0743291611 ISBN 13: 9780743291613

Verlag: Atria, 2006

Inhaltsangabe

THE COMPLETELY REVISED AND UPDATED EDITION OF RUSS WHITNEY'S CLASSIC BLOCKBUSTER ON REAL ESTATE INVESTING AND WEALTH BUILDING

Since its first release a decade ago, Building Wealth -- called "an indispensable guidebook for everyone dreaming of something better" by Business Times -- has shown thousands of people how to get rich in the real estate market, based on the proven techniques that took Russ Whitney from working in a slaughterhouse as a high school dropout to a millionaire investor and entrepreneur. Now Whitney brings his invaluable guide fully up to date, allowing readers to take advantage of a real estate market that's exploding with opportunity.

The updated and revised Building Wealth reflects the momentous changes that have occurred in recent years. In addition to his rock-solid tips on negotiating and exploiting the world of real estate, Whitney delivers entirely new advice on such topics as:

• Moving from residential to commercial properties
• Investing in raw land
• Real estate development
• Using the Internet and other technologies to maximize profits
• Making the most of real estate revenue by investing it in the stock market
• And much more.

A revered guide that inspires self-confidence as it demystifies the steps to financial gain, this newest edition of Building Wealth is required reading for everyone interested in making a fortune to enjoy now and leave as a legacy.

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Über die Autorin bzw. den Autor

Russ Whitney is recognized worldwide as a leader in the investment-training field and is chairman and CEO of Whitney Information Network, Inc. (WIN). He is also the bestselling author of Millionaire Real Estate Mentor and The Millionaire Real Estate Mindset.

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Building Wealth

Achieving Personal and Financial Success in Real Estate and Business Without Money, Credit, or LuckBy Russ Whitney

Fireside Books

Copyright © 2006 Russ Whitney
All right reserved.
ISBN: 9780743291613

Chapter 1

Light Your Internal Fire

Destiny is not a mater of chance; it's a mater of choice.
Unknown

When I was 20, I got the best job I thought I'd ever have: I was making $5 an hour killing hogs.

I worked in a slaughterhouse where, on a good day, 1,400 hogs were butchered. The process was very systematic. The 400-pound hogs were herded up a chum. At the top of the chute, they were stunned by an electric shock to the back of the neck, causing them to fall onto a conveyor belt. At that point, we could shackle their hind legs (that was my job) and they were flipped upside down so the man next to me could cut their jugular vein. Then they would bled to death.

It was messy, disgusting work, and I believed I would be doing it for the rest of my life.

Then I noticed a magazine ad for a "get rich" program. I was wary and didn't respond to that ad; in fact, I studied a number of ads before I answered any of them. But just reading the first one set my thoughts in motion, and it wasn't long before I realized I didn't want "a job" -- and certainly not a job in a slaughterhouse.

I waned to be wealthy.

It was quite an ambition for a high school dropout with a bad attitude. And even though I knew what I wanted, I didn't know how to go about getting it. So I started answering some of those ads. I got replies about how to make mail-order millions, how to make $300,000 a year stuffing envelopes, the lazy way to riches, various franchises, and dozens of other responses that were probably a mix of legitimate opportunities and outright scams.

If you've ever responded to any of these ads, you've got a good idea of the kind of stuff that filled my mailbox. If you haven't, I'm going to save you a lot of disappointment, time, and money. I'm going to tell you how to find the real road to more money and security.

But first, it's important that you know how I did it. As I said, when I decided I waned to become wealthy, I was a 20-year-old high school dropout working at a dead-end job. I easily could have used my lousy childhood as an excuse for never achieving anything significant. Also, I had to consider the fact that I was married and my wife was expecting our first child. I had obligations and bills, and I needed a shady income. I didn't have much, but I couldn't afford to risk what I had.

So there I was, accumulating a drawerful of money-making ideas that wouldn't work for me, primarily because they required large up-front investments. Then I saw an ad for a book on building wealth that did not brag about overnight success. I discussed it at length with my wife, because the book (long since out of print) was $10 -- a significant amount of money for us at the time. We debated, and since the publisher offered a money-back satisfaction guarantee, we finally agreed to give it a try. I mailed in my order, and when the book came, I started to read it.

I literally stayed up all night reading, taking notes, and making plans. I was young and naive, but I wasn't stupid. I immediately realized there was no magic to building wealth. It was definitely something I could do.

Three weeks later, I made $11,000.

Now that's not a tremendous amount of money, but it was more than I made in a year at the slaughterhouse -- and I did it on a very part-time basis. I thought, d I could make that much money that quickly after reading one tittle book, imagine what I could do if I read a few more! I began building a library of these types of books, focusing on the fundamental principles, and selectively following the advice that sounded realistic and sensible.

By the time I turned 23, I was able to quit my job, because I had become financially independent. By the time I was 27, I had been written up in several publications as one of the youngest self-made millionaires in the United States!

The methods I used were not complicated. I've refined them slightly over the years, and they we still working for me today. They can be used by virtually anyone, anywhere, on a full- or part-time basis, and they don't necessarily require a let of capital or credit. They do, however, require Sat you redirect your thinking and develop a game plan.

I've taken the fundamental principles -- the ones that work -- and figured out how anyone, regardless of their experience or education level, can use them to become wealthy, too. Basically I have cut out the pie-in-the-sky stuff, the empty premiss, and put together a program that I know works -- and I know it works because I've done it, and I've already taught countless others how to do it.

I can't tell you how wealthy you will eventually become, but I can tell you this: If you will follow the steps outlined in this book, you will see a very rapid improvement in your financial circumstances, and you will be on your way to building your own personal fortune.

Think like a High School Dropout

At the age of 20, it seemed as if my life had been just one hardship after another. My mother left my father and me when I was 3, and then he died when I was 14. Not only was I emotionally devastated, but I had to get a job to support myself and wound up quitting school in the eleventh grade. I was very naive, and I was desperate for something or someone to believe in. Everywhere I turned, I hit a wall.

But I kept on looking. I found my wife, and knew almost from Se minute we were introduced that this was the woman I would spend the rest of my life with. We both came from working-class backgrounds where the accepted life pattern was to work at a job, save up enough to make a down payment on a house, work until you were 65, retire wis a gold watch and a meager pennon, and die a few yews later. After we were married, we realized we waned more for ourselves and our children. I began my search for financial security, and Ingrid prodded the much-needed moral support. It wasn't easy, but we knew that America was full of rags-to-riches stories, and if it could happen for someone else, it could happen for us.

All we had to do was figure out a way.

In my own case, I went out and aphid one idea -- and made $11,000 in throe weeks. I had faith in a system. Had I been a little mom sophisticated, a little mom educated, I might have questioned it, and I might not have tried it. But I was thinking like the high school dropout I was, and it worked.

As I travel around the country giving lectures, I frequently ask audiences for a show of hands of those who have gone to college. The usual response is about 90 percent. This means the vast majority of the people I speak to about wealth building have a college education -- and they're coming to hear a high school dropout tell them how to make more money. And the real irony is that their education may well be the mason why they don't have mom money than they do.

Let's be very clear on this: A college education does have value, but formal schooling will not teach you how to make money. You probably know some very wall educated people who are living a life of financial failure, or at least economic mediocrity. You may be one of them. If you are, take heart: You can overcome your education.

The Paralysis of Analysis

I once had a business partner who held an MBA dong with degrees in engineering and accounting. Every time I came up with a new idea, he would sit at his...

Details zur Ausgabe

• Verlag: Atria
• Erscheinungsdatum: 2006
• Sprache: Englisch
• ISBN 10: 0743291611
• ISBN 13: 9780743291613
• Einband: Taschenbuch
• Anzahl der Seiten: 320
• Kontakt zum Hersteller: Nicht verfügbar
• Verantwortliche Person: Simon and Schuster Netherlands BV; info@simonandschuster.nl; ; Herculesplein 96; Utrecht; 3584 AA; Niederlande