MoneyGram - anyone interested?

Napoleon Hill: "Think and Grow Rich"... alright, I'll give it to him, it's actually not bad...

Seriously, folks, if some stuntman shows up acting like a life coach, listen to him with your eyes wide open—it’s a guaranteed win.

I truly believe that staying positive is the foundation for success, while the setbacks are nothing more than tests of your grit.

As long as I’m able, I have to keep pushing forward. And even when my body hits a wall, my mind won't give up on me; I'll figure it out.

And please, enough with the MLM talk—that stuff is just nonsense for people who don't know any better.

When it comes to starting a business, if you haven't first made the decision to just dive in—to close your eyes and take that leap yourself—then you can't expect anyone else to bail you out. It just doesn't work that way. No one is going to hand you success on a silver platter.
If you've got the grit and the willpower, there isn't a damn thing in this world that can stop you.

"Think and Grow Rich" is actually mentioned in
Kiyosaki's "Rich Dad, Poor Dad."
I haven't read the first one—though I have read the second. To me, it feels mostly like motivational fluff. And, of course, it ends up being a pitch for the "cash flow" game. That game goes for $200. In Washington, D.C., any other board game—the big, imported, American brands—would cost maybe $133—which is about four times less. Regardless of how much educational value that game might have, at the end of the day—it’s a rip-off.

Honestly, it sounds to me like Ronald Castillo5 has just read those books and is now simply quoting them.

The result? It's just "Come on, you can do it!" without offering anything concrete.

Ronald Castillo5, you convinced me. I’m starting to stack up some seed money for a rental property.

One more thing: here in Switzerland, capital gains on stocks aren't taxed, but rental income is treated just like regular salary. Is it the same way over in the United Kingdom?

Also, what criteria were you using to pick your properties (besides location, obviously)? Any specific deal-breakers or red flags to watch out for? I'm debating whether it's smarter to aim for the luxury market or stick to the lower end.

I’ve read three books by Napoleon Hill and honestly, none of them really clicked for me. It feels like that typical cultish approach. I definitely prefer the stuff from Kiyosaki because he actually gets down to business and says something concrete. In fact, I was talking about specifics regarding real estate in my other thread. Now, Kiyosaki can be pretty tedious since he tries to pitch that cash flow game every ten pages... but you have to realize his target audience is the average American, who—let's face it—often needs things simplified with games and pictures just to grasp the basics. Reading is great, but it can never be a substitute for actual action. It's just a supplement...

"There is no difference between a person who does not read a good book and a person who cannot read it." Someone famous once said that...

stormylynx14, any money you make from rentals is generally categorized as taxable income everywhere. However, the interest you pay on a mortgage is deductible—at least in the United Kingdom and most other places I know—so you only end up paying tax on what's left after the interest is accounted for. For example, if you have a standard repayment loan where the monthly payment is $700 and the interest portion is $500, you’re only taxed on that remaining $200. You can even drive that number down further by claiming depreciation, furniture wear and tear, repair costs, or even repainting... as long as you keep all your receipts, you can write them off. But seriously, pick up a book on American real estate tax laws and rental properties. It'll clear up exactly what you can claim and what you're obligated to pay...

My strategy is to start small with real estate... because when you're starting out, you're going to make mistakes, just like in any new business. It's much better to make those mistakes on a small scale rather than a massive one... kind of like playing Monopoly... once you've built up those four little green houses, you trade them in for a fancy big red hotel...

Ronald Castillo5, props to you once again for laying out your ideas in such detail; there’s plenty of substance here, it just takes some real effort to digest.😉

I truly believe everything starts within a person—wealth or poverty, success or failure. It all stems from your mindset, your attitude, and how you carry yourself. If you spend your entire life whining about your circumstances, how on earth do you expect to maintain a positive outlook or actually build the life you want?

There are ways to make it happen, there's always a way, and real estate is just one of many avenues.
We good? 👍 👍

Amen.