The Learning Annex Weekend - Part 2
After such a long day at the Annex on Saturday we were feeling it when we woke up bright and early the next morning! It was pretty cold out, there was even ice on our windshield! So off we drove to the West Side Drive in Manhattan where the Jacob Javitz Center is located. It's so big, it spans a number of blocks and I hear they are planning on expanding it even more!
That Sunday we got there but somehow missed Robert Kiyosaki speaking unfortunately. We did go to some more real estate classes on flipping properties, and rehabbing. Also, we went to a class about the importance of a personal mentor and how we all need someone who can help us in every area of life, not just one. I personally believe that God is the one first and foremost to have as your life mentor but I also think it's a great idea to have role models as long as God is first.
Later on that day we were treated to a lecture by Kim Kiyosaki, nice to get some females in there! She spoke about choosing the type of investing that's right for you. Kim mentioned how one of her friends just wasn't into real estate investing and instead she invested in silver and bought some at the local coin shop. Her education on the topic of commodities training soared because she was in the game, she made an investment and began to self - educate herself on the topic. Another one of her friends decided to invest in coin operated laundromats and she enjoys a healthy profit from that. Kim said she's involved in real estate and just loves it. Recently, she began investing for the first time in commercial real estate and since she was new to it she had her lawyers and accountants giving their opinions and almost handling the deal for her. Well, that really went nowhere and after about 5 months of confusing negotiations, the seller pulled the deal off the table. At this point Kim said to herself, "what am I doing? I know real estate?" and in real estate you never let your attorney nor accountant negotiate deals. They are there to handle the legal issues and the money issues, that's it. All the other negotiating is handled by the buyer, who happened to be Kim in this instance. She found an even better deal that she bid on and took the main role in all the negotiations, everything was handled much quicker and the deal was even better than the other one.
After a few more classes we were feeling pretty tired and ready to go home, so we went off to the parking garage, got our car and drove home, Sunday traffic is pretty light and we were glad for that.
Overall, the whole experience was a really interesting one. I learned a lot and plan on researching many different topics. As Mark from the FIO can attest, I have been asking a lot of questions about real estate! haha. Well if any of you who went to the Annex in NYC in November or any of you are going to a future one and have questions or comments, let me know!