"The Social Network" and real estate
Many people dream of escaping the 9-5 rat race. In order to succeed at this endeavor, one must realize that leverage and cash flow are essential to reaching one's goal. At this point, some believe that real estate is the answer and that when someone runs out of their own capital, they should joint venture their way to finding more money to buy more properties. This completely misses the point that the best joint venture partner one could ever have is owning your own business! It will teach you how to market yourself, deal in negotiations, present business plans to bankers and other useful skills that propel one forward. A business in and of itself can give you everything you desire in terms of financial freedom far beyond owning numerous rental properties which is what real estate seminars want you to believe. Below is the video of my favorite dialogue from the 2010 movie "The Social Network". Please have a look:
Leslie Wexner's ability to turn four million into five hundred million in two years (aside from the multi millions in cash flow) is far beyond anything that real estate can produce. That is why I strongly advocate creating wealth through business ownership and then going into real estate. This will serve you far better than attending property investment seminars and giving your hard earned money to the event organizer.
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