Reading Recommendations

Think and Grow Rich by Napoleon Hill

I read "Think and Grow Rich" by Napoleon Hill back in college. To be honest, I did not put much thought into the content. I was focused on graduating from college and becoming a CPA, working my 8-to-5 job, and living a comfortable life. But once I started investing in real estate and wanting to attain great wealth, I started utilizing the principles in the book without ever realizing it.

As mentioned above, I recently joined a mastermind group and my associate suggested that I write a review on the book since Mr. Hill talks about the importance of these types of groups to help you attain your dreams. So I pulled out my book and quickly reviewed the pages again.

"Think and Grow Rich" was published right after the Great Depression and it is a roadmap to the great success of people such as Ford, Rockefeller, Edison and many more. Hill established 13 principles or Steps Toward Riches that the wealthy utilize such as Desire, Organized Planning and Power of the Mastermind.

We may have heard all of the principles before since most of the motivational speakers touch on the same ideals, but Hill studied the wealthy for 20 years in the early 1900's. I find it interesting that these same principles stand true today.

Before you can achieve great wealth in all aspects of your life, you need to start with big dreams. To achieve those dreams you must have a plan and change your way of thinking. For example, instead of thinking, "Oh, I can't do that," think, "How can I make that happen?"

You may not agree with everything Mr. Hill has to say but the book will definitely leave an impression and hopefully it will inspire you to start changing your mindset so you can achieve all of your dreams.

The Millionaire Maker's Guide to Wealth Cycle Investing by Loral Langemeier

Recently several people mentioned Loral Langemeier's name to me so I decided it was time to read her book - and I'm glad I did.

The description of the book was right on: "Think of this as your personal tool-kit-packed with step-by-step instructions, worksheets to organize your assets, and surefire secrets for making money." I don't know about you, but I'm always interested in ways to make more money!

Though the author doesn't give you every detail about how to invest in specific assets, she does provide some good examples and worksheets to follow. Langemeier also recommends having a diversified portfolio - this is sound advice which I took to heart.

Real estate is my passion and as a result, it is where I am heavily invested. But after reading this book, I realized that I need to diversify into other markets. I need to step out of my safety zone and try new things!

The book also covers topics including "How Assets Drive Wealth Building," "Money Rules," "Due Diligence," and most importantly, "The Next Generation: Building Baby Millionaires."

One of the key messages in the book is that you must remember what your motivations are. Like the author, I am investing for the good of my family. But more importantly, I want to teach my children that if they want something, then we need to figure out how to get the money for it. When I was growing up, I was told that we needed to save up for the things we wanted since we couldn't afford extras. But I want my children to think outside of the box!

Recently my six-year-old son Chase, wanted a new toy and I told him to come up with some ideas on how to pay for the prized item. After giving it some thought, he told me that he wanted to put a comic book together and sell it! That's exactly the kind of thinking I was aiming for.

Overall, I enjoyed this book because it gave me a new perspective on my investment strategies. If you are interested in picking up some good tips, Langemeier's book delivers.

Secrets of the Millionaire Mind: Think Rich to Get Rich by T. Harv Eker

I think it is very important to read books on topics that will help you reach your goals and your full potential. For me, it's important to keep up with the latest trends in real estate and learn "what to do with my money."

I had heard about Secrets of the Millionaire Mind from a few people and decided to see if it was different than other books I have read on the same topic. As I was reading Secrets of the Millionaire Mind, the descriptions about how some people seem to have everything come easily to them while others have to struggle for everything, prompted me to think about my parents.

When I was growing up, my father had a lot of great ideas. One time he had decided he was going to open a cookie kiosk in the mall (before these things existed). We tried several different variations of recipes until we thought we had struck gold with our chocolate chip recipe. Then he designed the cart, figured out which mall to go in, etc. But he never followed through.

I remember a few years later when cookie shops started showing up in the malls--and now they are everywhere. Why didn't he take the leap and start his own business?

After reading Eker's book I realized that my parents were raised to believe they should avoid risk. They worked very hard at their jobs and the little voice inside their heads told them, "Don't blow it. You have a good thing so why risk failing again?" (I found out later that my father had tried to start another business and it failed).

The next question I had was, if my parents were raised this way, why did I have the drive to start my own business? Well, I was pushed into it and didn't have a chance to look back. When I was 19-years old a friend asked if I wanted to be his business partner in a Domino's Pizza. He met all of their requirements to open a store but needed the money. He had known that I was a workaholic, even back then, and that I had saved my money.

After much thought I agreed and spoke to my dad about purchasing the equipment from his company (he designed restaurants and sold the equipment). I left for vacation and when I came back, my father had signed us up to own a sandwich franchise and had started the contract process.

To make a long story short, I worked for almost five years at that business, sold the store and finished college. Once you have worked for yourself it is hard to go and work for someone else, at least for me. I was hooked. It took me several years to figure out what I was passionate about, but I now have my dream job. My biggest fear--and I am sure a lot of moms feel the same way--is that I am so passionate about my work that I am not giving my all to my kids.

After reading Secrets of the Millionaire Mind, I realized that it is okay for me to work hard and stay focused on my goals. If my children see that I enjoy what I am doing, they will have the ultimate reward: their parents' early retirement.

By following the simple steps outlined in the book and changing my mindset, I have already seen several opportunities open up for me and I know now that I will achieve all of my dreams. Good reading!

Other books:

Timing The Real Estate Market by Robert M. Campbell
The Complete Guide to Buying and Selling Apartment Buildings by Steve Berges
Rich Dad Poor Dad by Robert T. Kiyosaki
Bullet Proof Your Corporation by Garret Sutton