Get Rich The Time-Tested Way: Invest In Property

If you are going to get rich, you may have to give up everything you ever learned in school and from your parents and start from scratch. Now that's not a definite by any means. You may not have to start over. If someone along the line taught you, for instance that it doesn't actually take money to make money, then you may already be on the right track.

That's right. Robert Kiyosaki, author of the Rich Dad book series, said it exactly like this: "It doesn't take money to make money. I often hear people say it takes money to make money. I disagree. We had no money when we started and we were also in debt. It also doesn't take a formal education."

Kiyosaki proceeded to cite the case of Bill Gates: the Microsoft mogul never actually graduated from college, but did that keep him from making his fortune?  No way!  Diplomas are nice, but they don't reliably add up to more money.

Robert Kiyosaki says that the only true prerequisites to being rich are that one must be determined and a quick study. Beyond that, it's all about what you know. One of the first things you need to know about becoming rich is where you fall on the Cash Flow Quadrant.

Kiyosaki's "Rich Dad," actually his childhood best friend's father, is the one who introduced him to the Cash Flow Quadrant, a handy diagram that visually illustrates the ways in which individuals with different personalities relate to money.  It consists of a square split into four quadrants, labeled 'E' (Employee), 'S' (Self-employed), 'B' (Business), and 'I' (Investor).  If your aim is to become rich, you're going to have to set your sights on the 'B' and 'I' quadrants of the diagram.

What Robert Kiyosaki means when he says that in order to build wealth, you need to be a quick learner, is that you must learn the ropes of investing.  Following in the steps of "Rich Dad," Kiyosaki himself invested in real estate- a great choice for anyone considering investing, as so much depends on it.  In his "Rich Dad," book, he points out how many of Hawaii's businesses were located on land owned by Rich Dad.

This isn't about learning the minutiae of real estate investing and immersing yourself in every technical point and statistic- these things are important and useful for  investors, but this expertise can come in the form of a profession that you hire to make these in-depth decisions for you.  You only need to understand the subject matter to the extent that you can recognize an expert when you see one.

That is a far cry from thinking like a Self-employed person. According to Kiyosaki, a self-employed person is someone who owns a job, not a business. You don't own a true business, he said, unless you can leave it for a year and return to find it still making money for you. Businesspeople, he said, know better than to try to do everything themselves. In order to save time and money, they hire people to do the things they can't do or don't have time to do. That's why hiring a qualified real estate professional to guide you in your decisions can be a good investment in and of itself.

At the end of the day, you only really need to have a certain level of knowledge regarding the ins and outs of Minnesota real estate, and the experts you hire can guide you the rest of the way. If you take one thing from reading this article, let it be this: if you aspire to be rich, it's time for you to make the move to the 'I' quarter of the Cash Flow Quadrant.