Wednesday, July 05, 2006

Risk & Grow Rich with The Apprentice

Notes on Kendra Todd's Book
Risk & Grow Rich : How to Make Millions in Real Estate

3 Ates that Make Risk Work:
Calculate
Initiate
Mitigate

10 Steps for Turning Risk into Opportunity include:
- Persistence
- Mentoring
- Take Action
- Positive Thinking
- Learn from Mistakes

Formula for Making First Million
This outlines essentially an equity pyramid. Most people consider this risky except in an advancing market; her point here is that you do your research to find the places that are appreciating and then there is less risk and you can keep it up indefinitely. Unfortunately, there are few details on research statistics to look at for any given area.

In general this is a good book from the standpoint of opening your mind to possibilities and reinforcing the concept that without (educated) risk, there is no reward. I don't personally agree with the millionaire formula she outlines -- not my cup of tea (rather, see John Schaub's Building Wealth One House at a Time : Making it Big on Little Deals).

Worth the read though.

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