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Today's Guided Visualization is Commandment #5: Do Not Gamble (Avoid Flipping, Speculating, And Other Risks)
The opposite of a prudent investor is a gambler – someone who chases after get-rich-quick schemes, fleeting market trends, or other risky forms of speculation. Only invest in properties that make good financial sense – starting from the day you buy them. While flipping houses and other quick-cash “guessing games” have been popularized by TV and the media, true long-term wealth is generated by making a smart property purchase and letting its value appreciate over time.
Today's Guided Visualization is Commandment #4: Remain Prudent (Keep Your Long-Term Goals In Mind)
Keep your investment goals in mind at all times (i.e. retirement, financial freedom, creating wealth), while always abiding by your own unique risk tolerance limits. In simpler terms: stay true to your investment plan! Of course, this requires actually having a plan, which should be based on a combination of your self-education, your financial resources, the advice offered by an investment counselor, and your specific wealth goals. Some investors are conservative, while others are more aggressive. Some want cash flow, some want capital appreciation, and some are most concerned with tax benefits. Always keep your unique situation in mind to remain a prudent investor.
Website:
www.JasonHartman.com
1. Become Educated (Educate Yourself On Key Investment Principles)
“Self-education is, I firmly believe, the only kind of education there is,” said author and scientist Isaac Asimov. Knowledge – the possession of information – is quite possibly the most powerful tool on the planet. And nowhere is this more true than in the world of real estate investing. It is not about college degrees or special certificates – ultimately, becoming a successful investor requires due diligence on a personal level so that you may become your own best advisor, without relying on anyone else (including professional consultants) to explain core investment concepts to you. Responsible investing is a choice – a choice that every investor can make!
Website:
www.JasonHartman.com
Jason Hartman's 10 Commandments of Real Estate Investing will help you become an educated, empowered investor.
Website:
www.JasonHartman.com/Properties
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