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partner is. Most people don’t know that my partner is my cat. If they
accept the offer, and I don’t want the deal, I call home and speak to
my cat. I make this ridiculous statement to illustrate how absurdly easy
and simple the game is. So many people make things too difficult and
take it too seriously.
•
Finding a good deal, the right business, the right people, the
right investors, or whatever is just like dating. You must go
to the market and talk to a lot of people, make a lot of offers,
counteroffers, negotiate, reject, and accept. I know single
people who sit at home and wait for the phone to ring, but it’s
better to go to the market, even if it’s only the supermarket.
Search, offer, reject, negotiate, and accept are all parts of the
process of almost everything in life.
•
Jog, walk, or drive a certain area once a month for 10 minutes.
I have found some of my best real estate investments doing
this. I will jog a certain neighborhood for a year and look for
change. For there to be profit in a deal, there must be two
elements: a bargain and change. There are lots of bargains, but
it’s change that turns a bargain into a profitable opportunity.
So when I jog, I jog a neighborhood I might like to invest in.
It is the repetition that causes me to notice slight differences.
Chapter Nine: Here Are Some To Do’s
170
I notice real estate signs that are up for a long time. That
means the seller might be more agreeable to deal. I watch for
moving trucks going in or out. I stop and talk to the drivers. I
talk to the postal carriers. It’s amazing how much information
they acquire about an area. I find a bad area, especially an
area that the news has scared everyone away from. I drive it for
sometimes a year waiting for signs of some thing changing for
the better. I talk to retailers, especially new ones, and find out
why they’re moving in. It takes only a few minutes a month, and
I do it while doing something else, like exercising, or going to
and from the store.
•
Shop for bargains in all markets. Consumers will always be
poor. When the supermarket has a sale, say on toilet paper, the
consumer runs in and stocks up. But when the housing or stock
market has a sale, most often called a crash or correction, the same
consumer often runs away from it. When the supermarket raises
its prices, the consumer shops somewhere else. But when housing
or the stock market raise their prices, the same consumer often
rushes in and starts buying. Always remember: Profits are made
in the buying, not in the selling.
•
Look in the right places. A neighbor bought a condominium for
$100,000. I bought the identical condo next door for
$50,000. He told me he’s waiting for the price to go up. I told
him that profit is made when you buy, not when you sell. He
shopped with a real estate broker who owns no property of her
own. I shopped at the foreclosure auction. I paid $500 for a
class on how to do this.
My neighbor thought that the $500 for a real estate investment
class was too expensive. He said he could not afford the money,
or the time. So he waits for the price to go up.
Rich Dad Poor Dad
171
•
Look for people who want to buy first. Then look for someone who
wants to sell. A friend was looking for a certain piece of land.
He had the money but did not have the time. I found a large
piece of land, larger than what my friend wanted to buy, tied
it up with an option, called my friend, and he said he wanted
a piece of it. So I sold the piece to him and then bought the
land. I kept the remaining land as mine for free. Moral of the
story: Buy the pie, and cut it in pieces. Most people look for
what they can afford, so they look too small. They buy only
a piece of the pie, so they end up paying more for less. Small
thinkers don’t get the big breaks. If you want to get richer,
think big.
•
Think big. Retailers love giving volume discounts, simply
because most business people love big spenders. So even if
you’re small, you can always think big. When my company
was in the market for computers, I called several friends and
asked them if they were ready to buy also. We then went to
different dealers and negotiated a great deal because we wanted
to buy so many. I have done the same with stocks. Small
people remain small because they think small, act alone, or
don’t act all.
•
Learn from history. All the big companies on the stock
exchange started out as small companies. Colonel Sanders did
not get rich until after he lost everything in his 60s. Bill Gates
was one of the richest men in the world before he was thirty.
•
Action always beats inaction.
These are just a few of the things I have done and continue to do
to recognize opportunities. The important words are “have done” and
“do.” As repeated many times throughout the book, you must take
action before you can receive the financial rewards. Act now!
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