Retire Young Retire Rich: How to Get Rich Quickly and Stay Rich Forever! by Robert T. Kiyosaki

Author:Robert T. Kiyosaki
Language: eng
Format: azw3, epub
ISBN: 9781612680415
Publisher: Plata Publishing
Published: 2012-07-29T22:00:00+00:00

Chapter Twelve

It Got Very Easy

At the start of this book, I wrote about how easy it was to retire early by borrowing money from the banks. Once Kim and I were willing to push beyond our reality, our comfort zone, we found out that it is just as easy to borrow money from the government.

I have written about the tax laws being in favor of those who are in the B and I quadrants and against those in the E and S quadrants.

I also wrote that most of the people who complain about taxes are E’s and S’s. That’s because the government wants to be the partner of the B’s and I’s since they create jobs and provide housing. I had always known this, because my rich dad had told me, but I had no idea how much the government helps those that help the government until I began looking into real estate investments over $5 million, until I was willing to expand my context.

Our search was on. We were now looking for larger projects that were far beyond our comfort zone. At our first meeting in 2001 with a real estate sales person who specializes in low-income government-sponsored housing, Kim and I showed the salesperson our existing real estate portfolio. In our portfolio we had millions of dollars in real estate, mainly in unit sizes of 30 to 50 apartments.

“You know how to manage multifamily apartment houses,” said the real estate agent, a young woman in her late thirties. “That’s good.”

“Why is that good?” asked Kim.

“Because one of the government’s requirements is that anyone it lends money to must have a successful track record at managing multifamily apartment houses. You’ve been doing that for over ten years and have run them profitably. Many people want these government loans, but very few people qualify for them,” said the agent. “As you know, most people who do own a few investment properties want to manage their own real estate, collect their rents, and do their own repairs. That is why they never learn how to manage larger properties as you do.”

Kim and I nodded. We knew there was much more to real estate than simply collecting rent and fixing a few toilets. We had learned a lot in the last ten years. But now it was time for us to move on. If we 188

Retire Young Retire Rich

were to move on, we had to meet new people, learn a new vocabulary, and be willing to play a much bigger game. Listening to these two new people in our lives, I realized that over the past ten years we had become hares and swans in the real estate market up to $4 million. We were the proverbial big fish in a small pond. It was now time to move on and again become uncomfortable, become slow tortoises and ugly little ducklings in a much bigger game.

Sitting next to the agent was an investment banker who specialized in tax-exempt, rated and nonrated government housing bonds.

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