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The Value of Membership with TCI!
| | Monday, September 06, 2004 @ 08:00 AM EDT
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Contributed by: John Michael
John Michael Properties
Read more archived articles about Managing
real estate investing educational choices are still influenced by family circumstances, costs, income level, role models, and social and economic rules and assumptions.
When making choices, many are not fully aware of the long-term consequences of their selection.
New Investors may also have inflated views regarding their personal income-generating ability. Likewise, many new investors place a premium on immediate gratification and consumer spending, as opposed to deferred gratification and an investment in human capital."
1. Real Estate Investors economize. Real Estate Investors choose the alternative that seems best to them because it involves the least cost and greatest benefit.
2. All choices involve cost. Cost should never be second choice! Real Estate Investors give up when they make their best choice based upon cost of education.
3. Real Estate Investors respond to incentives. Incentives are actions or rewards that encourage Real Estate Investors to act. When incentives
change, Real Estate Investor's behavior changes in predictable ways.
4. Economics systems influence individual choices and incentives. How Real Estate Investors cooperate is governed by written and unwritten rules. As rules change, incentives change and behavior changes.
5. Voluntary trade creates wealth. Real Estate Investors can produce more in less time by concentrating on what they do best.
6. The consequences of choices lie in the future. The important costs and benefits in economic decision making are those which will appear in the future. Economics stresses making decisions about the future because it is only the future that we can influence. We cannot influence things that have happened in the past.
Education doesn’t mean anything. Don’t get me wrong: We can say the word “education” and get that special feeling inside, like we’re chanting some sacred incantation. We can also use the educational system to get a job, or use prestigious universities as resume fluff:
In this manner, education is nothing more than a disposable product. This may seem outrageously idealistic, but I was under the impression that the meaning of education fell somewhere near enlightenment. I’m not talking spiritually. I’m talking in terms of knowledge that goes beyond the mere storage and repetition of mundane information, or workshop lingo that alienates everyone outside your workplace or vocation.
I’m talking about the difference between treating education like a dear loved one, and treating it like a cheap one-night stand. The prevailing attitude in our mainstream culture is the latter. Although we can get so worked up about funding, class size, and pedagogical methods, what does any of this mean if we do not infuse education with human value?
Education should be about encouraging the importance of learning in concert with knowing. The emphasis on knowing something is overrated and serves to further the degradation of learning in our society. It’s the same emphasis that encourages “knowing everything you need to know”
This prevailing attitude will never value education past its practical function as a disposable package to be tossed into the trash once its contents have been consumed. With such an approach, it is next to impossible to spark the desire to learn.
If it cost you $10,000 to learn how to profit in real estate you can profit from it for the rest of your life.
A student of mine sold his car and cashed out his savings just to learn how to become an investor, his education cost was $7,000 he spent 4 days with me at a cost of $1,750 per day. Last year he made $300,000 and his net worth went from just under $5,000 to $875,000 in 12 months.
Not all have what it takes to be successful as the above student, but all can have moderate success as an investor and easily make $50,000 to $100,000 their first year if they are willing to learn and work hard!
I am not advocating this extreme desire to learn, but you have to decide as an Investor what you are willing to do what you are willing to spend to become a success.
In just, no matter the costs invest in your self, your family, and your future!
So in my opinion the cost to join this forum is worth its weight in gold!
Note: John Michael is the author of many guides that can help you become more successful as an investor. See http://www.thecreativeinvestor.com/ChanPart-JohnMichael.html
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