Casey Ryan Richards

This past week I took a trip back in time to re-read the investment classic "The Richest Man in Babylon" by George Clason. Originally written in 1926, it details the seven simple rules for building wealth:   1. Start they purse to fattening 2. Control thy expenditures 3. Make thy gold multiply 4. Guard thy treasures from loss 5. Make of thy dwelling a profitable investment 6. Insure a future income 7. Increase thy ability to earn.   I've always felt this is a perfect starter book for anyone seeking to improve their life and start a journey towards financial success. It ranks along side of Rich Dad Poor Dad on the must read list for aspiring investors. Personally, I try to read it once every few years just to refresh myself on the basics and to help keep me motivated on the path to success.   BIGGEST TAKEAWAY: "A part of all you earn is yours to keep." Or put another way, pay yourself first!

Summary: Dolf loves real estate and in his book "Real Estate Riches" he basically goes on a 150 page rant about its many benefits. However, there were a few notable nuggets of information found in the book worth remembering.   Main   When I started reading "Real Estate Riches" I thought it was just another bare bones sales pitch book on buy and hold real estate, but I was surprised. I found several items worth remembering:   * How to beat the averages with property: 1) Averages move slowly and predictably. 2) Invest in areas where growth is over the national average. 3) Stats can tell you which suburbs to invest in to beat average returns.   * Slow Real Estate Agents cane be a gold mind! If you are having trouble dealing with an agent, so are the other buyers! Frequent horrible agents and you will find lots of great deals.   * Sign Contracts "as nominee": You may not know what entity you want ...

In the genre of inspirational books, Chip and Dan are my favorite authors. I can still remember every word of their book "Switch" which is about how to motivate change in both ourselves and others. Its was a helpful and inspirational book for me which is why I saw a new book had been released from them I snatched it up right away.   "The Power of Moments" is a book that basically looks at the secret formula for what makes some moments stand out in our memories while others fade. They call these memorable and impactful events "defining moments."   A defining moment is a short experience with a lasting effect. Defining moments have some (or all) of the following elements:   * Elevation - "Creating moments of elevation involves boosting sensory pleasures, raising the stakes, and breaking the scripts (defying people's expectations of how an experience will unfold). They are experiences that rise above the rout...

Part biography and part how-to book, "My Life & 1000 Houses: Failing Forward" follows Mitch Stephen's road to success which started with the purchase of two condos in Texas while he was working as a bar tender and serial entrepreneur.   All went well with Mitch's investments until the recession hit in the mid-1980s and the banks required him to pay off the condo mortgages. He has the money, but barely. He observed " when a recession hits and/or interest rates go up, fewer people can qualify to buy properties. As a result, rents go sky high. In the simplest of terms, if the market ain't buyin', they're rentin' (or owner financing)." Which makes me think "aren't interest rates headed up now? Maybe we are about to repeat history.   Eventually, Mitch got a job as an apartment manager for some local judges. They would buy an $80,000 house, break it into 8 one bedroom units with a shared bathroom, an...

Summary: A review & notes from David Greene's "Long Distance Real Estate Investing: How to Buy, Rehab, and Manage Out-of State Rental Properties".   Body:   When I saw BiggerPockets Publishing was coming out with a book on long-distance real estate investing, it became a priority for me to read. I am interested in investing out-of-state and in many states, but there remains so many unanswered questions about the process because most books assume you will be there to physically view the property.   "Long Distance Real-Estate Investing" by David Greene assumes the opposite. It goes in to detail about how to buy, fix, and flip or rent a property without ever visiting the property. It focuses on investment properties for rental and assumes you will be doing all the work yourself. It doesn't cover turnkey properties except to explain what they are.   I was particularly impressed with some of the ideas in the book ...

Each weekend I spend at least 20 hours watching Real Estate shows.. I love watching various styles and trying to find that one new piece of information from the show that could make me a better investor. Over the years I've seen them all and as much as I love my real estate shows, I grow tired of all the fake drama that is inserted into many of the shows such as "Flipping Vegas" or "Zombie House Flipping." I want more real estate and less MTV-style drama.   The search for drama free real estate TV is what made me fall in love with Fixer Upper. Chip and Joanna Gaines are everything I hope to be as a real estate investor and I draw inspiration not only from their designs, but from how they live their lives. They are such good people I just love watching them succeed.   That is why I grew very concerned when I heard that the show was ending and rumors of divorce were plastered on the evening news. I ordered a copy of Chip's l...

The title of this book caught my eye. "52 Homes in 52 weeks!" If they can do that then it should be easy for me to do 10 in a year I thought. After reading the book I'm not sure their method could be replicated today, but it did lead to to some new insights.   Written in 2006 (before the real estate crash), the authors attempted this experiment in Las Vegas.. They boast about Vegas' great metrics which I found entertaining since we all know what happened in Vegas a few short months after this book was published. However, their location selection factors are worth nothing.   FACTORS FOR CHOOSING AN INVESTMENT DESTINATION: * Population Growth * Climate * Sustainable Work   I would add to this list: * Low Cost of Living * Cheap Real Estate * Low Property Taxes   Dolf De Roos and his partner Gene Burns bought these 52 homes from motivated sellers over a 9 month period using a Buy/Hold strategy. Most of t...