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Oprah's Debt Diet - How to Get Rich - Not Just Get Out of Debt - David Bach and Robert Kiyosaki Books Give Good Advice

April 7th 2006

Oprah's Debt Diet - How to Get Rich - Not Just Get Out of Debt - David Bach and Robert Kiyosaki Books Give Good Advice

Rich Dad

Oprah has been running a series called the Debt Diet, featuring author David Bach.  Many authors and experts have recommended investing in real estate to build wealth, and David is no different.  Robert T. Kiyosaki, author of the popular book Rich Dad Poor Dad, also recommends investing in real estate, not necessarily the stock market. 

David Bach recommends you buy a home, live in it, and then buy another.  Like millions of other people each, David says build your wealth through real estate.  Amazingly homes can make you money while you sleep.  Some people have realized a profit of $300 per day or more, as their home values increased over the past few years.  Imagine that, an extra $300 per day. 

Everyone needs to start somewhere.  First buy a house to live in, which may seem impossible to some people, but you need to work out a plan to get there.  The Oprah show recommended looking for other sources of income.  For instance, one guest made extra money by helping a friend paint houses.  Another guest took on a summer school teaching job to supplement her income. 

 

Do whatever it takes, because you will need that first house to retire wealthy.  David says this is the “surest” way to reach a seven-figure income.  He says, as long as you are alive, you have to live somewhere.  You might as well live in your own home.  He will tell you how in his book, The Automatic Millionaire Homeowner: A Powerful Plan to Finish Rich in Real Estate.

In the book, Rich Dad Poor Dad, Kiyosaki says that becoming wealthy has a lot to do with the way you think.  In the book, he compared his dad and moms ideas with the ideas of a friend’s dad.  His parents recommended that he go to college, get a steady job, and basically be conservative.  The friend’s dad was a little less conservative. He put more emphasis on business and investing, than on an education and job. 

 

It became clear on Oprah’s show that if you do not make enough money to buy your own home, you may need to supplement your income.  David recommended saving 10% of your income, and both David and Robert would recommend buying a home, and then another, and another...

 
 
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By Dan Wilson
Best Syndication

Books on No Money Down Real Estate

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Important:  The material on Best Syndication is for informational purposes only and is not meant to be advice. You should always seek professional advice before making financial decisions. 
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