Wednesday, February 10, 2010

How does a real estate guru make money? They know the 3 little words!

These two quotes below come from the site listed at the bottom, they were in reference to Tom Vu, the real estate mogul who "suckered" many people into 'coming to his seminars' only to learn techniques that were not very applicable in real life.

In TV commercials, Tom Vu would lure people to come to his seminars by saying to them they will learn the 3 little words that will teach them to become millionaires, how could anyone resist such an offer and many people did go to his seminars. The three little words were, Don't Give Up! Quite true!

Even to this day there are many people that I run across that want to make fast money and easy money.

I love these two lines below, they are perfect and really sum up many people:

How does a real estate guru make money?
Answer: By taking it from chumps with illusions of making lots of easy money.

How does a poker player make money?
Answer: By taking it from chumps with illusions of making lots of easy money.

...so please, don't have the illusion of earning 'lots of easy money' it's just not there often enough and you will more often than not, lose all your money!

Try real estate for the long term, not short term, and you will profit.
Read more here:
http://www.mississauga4sale.com/Lock-In-Short-Term-Long-Term-Mortgage.htm

Just like the stock market, when people make money in the stock market they buy low and sell high. When someone sells high, that means that someone has purchased high and will lose.

That sounds a lot like me and my dealings with the stock market, any stock I seem to buy ends up in the tank, two in particular that I have lost over $10,000 NO MORE, I am not buying any more stocks, only real estate and some RSP's in the markets in mutual funds, that's it! LOL

This is the site where the quote above came from
http://www.mymoneyblog.com/archives/2007/01/bikini-girls-waterfalls-90s-real
-estate-guru-tom-vu.html

All the best!

Mark

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