After attending the “How to be Truly Rich Seminar” by Bo Sanchez last July 21, 2007, I saw a flyer about the Think Rich Pinoy Seminar that was to be held on the following month.

I was so excited and I hurriedly registered because my wife and I had already read the book “Think Rich Pinoy” by Larry Gamboa about 8 months earlier. We both believed that the book was like an outline on how to apply Rich Dad Poor Dad principles and do foreclosed real estate investing in the Philippine setting. I wanted to learn more!

August 18, 2007 came and it turned out to be a very stormy Saturday, but the flooded streets I encountered on my way to the seminar venue did not deter me from attending. I had a good feeling about this seminar.

I was not disappointed!

Although I was a bit late, I was still able to attend and I met Larry and the rest of the Think Rich Pinoy team.

A stormy Saturday... but the seminar room was full! That's me in the red shirt on the right listening to Larry Gamboa's talk.

I learned about the “desert experience” from Bo Sanchez and how important it is, not just for me, but also for the people around me, especially my son. I Also remember answering a questionnaire that Bo gave to all attendees. It gave an accurate picture of how financially literate I was back then, or the lack of it. Bo also talked about the true purpose of becoming rich. Awesome!

I also saw more examples of investing in real estate in the Philippines through real life real estate deals, not just from Larry, but also from the Think Rich Pinoy franchisees. I wanted to validate what I understood from the book, and I felt I was on the right track.

And then there was also this one thing that happened during the seminar that I shall never forget.

A preview of things to come?

In the afternoon session, seminar attendees played Robert Kiyosaki’s Cashflow 101 board game. I remember that I had already played the board game before, but I was not able to get out of the rat race. (You can read more about cashflow 101 here: Top 7 lessons learned from playing cashflow 101)

That changed however during the game in that fateful day more than 3 years ago. Our team got out of the rat race, in record time(we were the second team to get out), when we simply grabbed an opportunity that came our way in the game and never looked back.

It also helped that the game card we picked was for a truck driver, which meant our expenses were very low, and this really helped us get out of the rat race faster.

It was exhilarating to hear game master Ronald Cagape announce that we got out of the rat race and later on I was congratulated by Larry Gamboa himself!

I shall never forget the words Larry said to me on that day.

“Great work Jay, now you just have to do it in real life.” as he shook my hand.

Our team got out of the rat race! In this picture, we were holding our financial statement and money from the game. (Sorry I forgot my teammate's name and I also lost her number thanks to ondoy)

Was this a preview of things to come? Will I really be able to get out of the rat race for real?!

Of course, getting out of the rat race in the Cashflow 101 game is one thing, but doing it in real life is something totally different… or is it?

You see, last January 31, 2010, I got out of the rat race. But this time around, it was for real.

Yes, it really is possible!

As I look back, I truly believe It was just a matter of believing that it can really be done. Because of the seminar, I was off to a good start!

Now you know why…

Whenever I get the chance, I volunteer to help facilitate the Think Rich Pinoy Seminars. I even bring my own Cash Flow 101 board game to help make sure that there are enough boards for all to play.

I also actively promote the seminar here in Foreclosure Investing Philippines. I believe this is one seminar that I will never regret promoting.

Now I get to share my story

I was invited by Larry Gamboa to speak at the upcoming Think Rich Pinoy Seminar on May 28, 2011, and I look forward to sharing how I got out of the rat race for real.

Let me give you an idea of what I’m going to share. People are known to attend seminars and get to learn new ideas, and do nothing with them. I was also like that before.

But things happen and you just have to believe that it can be done, and you have to start taking charge of your life… and that’s exactly what I did!

I look forward to sharing my story. See you at the seminar!

Photo credits: Jomar Hilario

~~~

To our success and financial freedom!

Jay Castillo

Real Estate Investor
PRC Real Estate Broker Registration No. 3194
Blog: http://www.foreclosurephilippines.com
Follow me in Twitter: http://twitter.com/jay_castillo
Find us in Facebook: Foreclosure Investing Philippines Facebook Page

Text by Jay Castillo and Cherry Castillo. Copyright © 2011 All rights reserved.

Full disclosure: Nothing to disclose.

PS. Join me at the next Think Rich Pinoy Seminar by Larry Gamboa! Click here for more details.

My Think Rich Pinoy Seminar experience and how it changed my life is a post from: Foreclosure Investing Philippines

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*I have turned this into a sticky post for new visitors.

I was supposed to finish writing my “Goodbye and thank you to 2010, Hello 2011…” post, but ended up with this list of the best “How to” articles from Foreclosure Investing Philippines during the year that passed. After all, FIP is so much more than just listings of foreclosed properties and public auctions. I believe you also need to know how to invest in foreclosed properties and bank acquired assets.

I hope this list will help you get started on the right foot. Just in time for the new year right?!

Of course I won’t let 2010 go without counting the blessings that came my way, but for now, here’s a list of “How to” articles from 2010 that can help you get started with real estate investing in 2011:

How to keep the passion burning for real estate investing – 2011 has just started and I know you are all fired up and ready to take on just about anything to succeed with real estate investing. Even with a good start, challenges and problems will surely try to block your path to financial freedom, and how does one “Stay hungry and foolish”? This post aims to help take care of that.

How to turn listings of foreclosed properties into opportunities – So you’ve played cashflow 101 and you got out of the rat race by buying passive income generating real estate, including some foreclosed properties. However, one may realize that buying properties in the game is not as easy in real life. Read this to learn how to start finding those “opportunity cards” for real inside listings of foreclosed properties.

How passive income through real estate investing can lead to financial freedom – What exactly is passive income? Why do you need to start getting those passive income deals to get out of the rat race? Just how does one get out of the rat race faster? Read this to find out.

How to be a proactive real estate investor – We always hear people say “I can’t do this and I can’t do that because of this and that…I have no choice.”. Most of the time, we talk like this to ourselves, unless we begin to be proactive. This article tries to convince us to start believing that we always have a choice.

Are foreclosed properties good deals? – If you think that just because a property is a foreclosed property, then it is automatically a good buy, think again! Before you get started with investing in foreclosed properties, find out why it is often said that real estate investing is a numbers game.

4 reasons why we need to be financially literate real estate investors – More money is never the solution if the problem is lack of financial literacy. Learn how having financial literacy is the only way to get started with real estate investing, and how it also prevents you from becoming like most lotto winners, who lose their money fast.

How to compute for the ARV of foreclosed properties – Okay, so you found a foreclosed property and you want to make an offer, or you want to bid for it. But before anything else, you need to determine what it could be worth, this would help you calculate this.

How to compute for the Maximum Allowable Offer or MAO for foreclosed properties – After computing for a property ‘s “value”, you also need to determine at what maximum price you can pay for it, leaving enough room for you to make enough money and be happy.

How to compute for the projected costs for acquiring, carrying, and selling a property – But wait, how does one know that the estimated costs for buying and holding a property are accurate? One needs to make sure just how much it would cost to buy a property and also the related costs of holding it for the projected amount of time needed to sell it.

How to compute for Net Operating Income or NOI and find good investment properties – Rental properties are not all profit, there are operating expenses that will be incurred, and you need to consider these to get the NOI, and see if a property can really generate positive cashflow and passive income.

Instant gratification versus delayed gratification – Want to learn how practicing a little delayed gratification can help you get started with real estate investing? Read this!

How to find opportunities and get started with real estate investing – If you really want to get started with real estate investing, you need to learn how to see those opportunities and grab them. They can lead to a series of advantages and lead to even more opportunities.

2010 has passed and lessons have been learned, but I would like to say thank you to 2010 one last time.

Happy Investing!

Jay Castillo

Real Estate Investor

PRC Real Estate Broker Registration No. 3194
Blog: http://www.foreclosurephilippines.com
Follow me in Twitter: http://twitter.com/jay_castillo
Find us in Facebook: Foreclosure Investing Philippines Facebook Page

Text by Jay Castillo and Cherry Castillo. Copyright © 2011 All rights reserved.

PS. Don’t be the last to know, subscribe to e-mail alerts and get notified of new listings of bank foreclosed properties, public auction schedules, and real estate investing tips. Mailbox getting full? Subscribe through my RSS Feed instead.

FIP’s best of 2010 to help you get started in 2011 is a post from: Foreclosure Investing Philippines

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Welcome to the fifth and last part of this series on the 3 types of income one can get through real estate investing. Before you begin reading this article, I recommend you review the first four parts:

How to get portfolio income through real estate investing

Earned income through real estate investing

Passive income through real estate investing – the path to financial freedom(Part 1)

How passive income through real estate investing can lead to financial freedom(Part 2)

In this series finale, let me share some final words and how one can use all three types of income to achieve financial freedom. Here goes…

Recap and some afterthoughts…

Portfolio Income

In a nutshell, portfolio income in real estate is basically income on paper in the form of equity. You still need to either sell or refinance a property to make use of your equity. Any property bought below market value should have a big potential for a gain in equity, if it really was bought below market value.

Portfolio income may boost one’s net worth and may give one bragging rights, but as Rich Dad would put it, someone’s net worth is often “worth less” than they think. In other words, if one’s equity cannot be turned into cash, or if the property cannot generate any positive cashflow, then those properties are “worth less” as they really are not  assets that put money in your pocket but are rather liabilities that take money away from your pocket.

Speaking of paper assets, one may soon be able to invest in a Real Estate Investment Trust or REIT here in the Philippines, which I believe is a form of paper asset. More information about REIT in the Philippines can be found here: Real Estate Investment Trusts (REIT) – The next big thing in real estate

Earned income

Earned income that one can gain through capital gains, and commissions(now referred to as professional fees because of the RESA LAW) is a relatively quicker way of earning from real estate investing, but should not be looked at as a means to get rich quick.

I believe that the earned income one can get through capital gains from flipping properties should be used to acquire passive income generating assets later on.

Although it may appear that earned income through flipping properties received a bashing from me when I compared it to the rat race, make no mistake, I still believe that we still need to flip properties for capital gains as it is a great way to build capital. This can then be used later on to buy bigger deals that can produce bigger positive cashflow, much like lesson #2 in the Top 7 lessons I learned from playing Rich Dad’s Cashflow 101 game.

Passive income

Passive income, considered by many as the holy grail of real estate investing, can really help one become financially free, but there are a lot of things one should remember when investing for passive income. Let me summarize them below.

1. Proper pre-screening of tenants is needed to avoid “tenants from hell”. Failure to do this can spell disaster.
2. Rental properties require competent property management and maintenance.
3. It is the hardest real estate investing technique to do because finding properties that can generate positive cashflow is more difficult than finding properties that can be flipped for a profit, and this applies whether you buy foreclosed properties from banks, or those that are for sale by owners or FSBO’s.
4. It may sound simple, but is definitely not easy.
5. Although it may not be easy, it is easier than most people think. It is definitely easier than spending most of your life stuck in the rat race as an employee.
6. Negatively geared rental properties can become positively geared eventually through rental escalation(Thanks Gio for reminding me about this through your comment), provided the property is in a good location. Of course, it would be ideal to have a rental property produce positive cashflow from the very start.

Which investing strategy should you use?

Do you invest for equity and build you net worth, or for capital gains through flipping (wholesaling and retailing), or for passive income by acquiring rental properties? If you ask me, I believe it would be better to combine all of them! let me try to explain as follows:

1. “Make money when you buy, not when you sell…”

In other words, make sure you buy properties below market value. How much below market value? That would depend on your profit targets but a safe target would be to acquire properties between 40% to 50% below market value. In effect, that discount would translate to a bigger potential for equity gain. This would help ensure that a deal will really be profitable, provided you were able to arrive at a fairly accurate estimate of a property’s market value.

2. Raise capital through earned income/capital gains

As mentioned earlier in this post, one can potentially raise capital faster by flipping properties that are bought at a price below market value for capital gains, or even through the accumulation of “professional fees” by acting as a real estate broker or agent. These can then be used later on to buy bigger deals that can produce bigger positive cashflow.

3. Use the capital to acquire passive income generating assets

The capital that can be raised through flipping properties can then be used to acquire income generating rental properties.

There you have it folks…

I hope you have enjoyed reading this series as much as I enjoyed writing it.  I would like to believe that I have this burning passion for real estate investing and I wish that somehow, I was able to share this passion of mine through this post. Feel free to let me know what you think by leaving a comment below. Thanks!

Let me leave you all with a quote from Herbert Spencer, which I often hear from Ebb, a teammate of mine in the RYP team:

“The great aim of education is not knowledge but action.”

Herbert Spencer-English philosopher (1820 – 1903)

To our success and financial freedom!

Jay Castillo

Real Estate Investor
Real Estate Broker License #: 20056
Blog: http://www.foreclosurephilippines.com
Follow me in Twitter:http://twitter.com/jay_castillo
Find us in Facebook:Foreclosure Philippines facebook page

Text by Jay Castillo and Cherry Castillo. Copyright © 2010 All rights reserved.

PS. Are you a new visitor? Click here NOW to start learning more about foreclosure investing in the Philippines

PPPS. Don’t be the last to know, subscribe to e-mail alerts and get notified of new listings of bank foreclosed properties, public auction schedules, and real estate investing tips. Inbox getting full? Subscribe through my RSS Feed instead!

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Another quarter has passed and the next Think Rich Pinoy Seminar is almost here, how time flies! The next Think Rich Pinoy Seminar  will be be held on May 15, 2010, Saturday, at the PhilamLife Building, Manila, Philippines. Special mention goes to Erwin who texted me and asked about the schedule of the next seminar, which is why I am posting the details here for everyone’s reference. Thanks Erwin!

When I checked the Think Rich Pinoy website , I was glad to find out that there is still time to take advantage of the “Early Bird Fee”, which is Php2,450 or USD53 and this is valid only until April 16, 2010. That’s Php500 off the regular fee of Php2,950 or USD63 which takes effect on April 17, 2010.  Learn more about the upcoming Think Rich Pinoy Seminar after the jump.

What is the Think Rich Pinoy Seminar all about?

Let me share with you what to expect during the Think Rich Pinoy Seminar which happens on May 15, 2010.

Think Rich Pinoy Wealth Seminar on May 15, 2010: Your Passive Income Mentoring Starts Here

Learn from the Think Rich Pinoy TEAM who’s been buying and selling foreclosed real estate for four years now in the Philippines! Yes it can be done. You don’t need to wait for a “recession” to buy property. Get into passive income now!

Buy your seminar ticket here!

What to expect in the Think Rich Pinoy Seminars

Aside from hearing how several young people purchased their first (or 2nd, 3rd, 4th ) properties from the bank at foreclosed rates, complete with pictures, you can expect:

1. Talk 1 – Are you Financially Ready for the Future?
2. The Theology of Money: Talk 2 – Are God and Money really enemies?
3. The Technology of Money: Talk 3 – Pinoy Real Estate Riches Today and Updates
4. The Game of Money: – Cashflow 101 and 202, play the game for 3 hours with like-minded people, guided by seasoned experts
5. Talks 4,5,6 – Real experiences in buying and selling Pinoy Properties from the actual (young) people who did them.
6. Talk 7 – The Think Rich Pinoy Clubs and Pinoy Millionaire Vision 2020

OFWs-teach your family the value of money-in a fun way-via this seminar and the board game. Buy your family a couple of seats to this March 15, Saturday,2010 event.
As you will see, the seminar/workshop is not the same as the book. It adds many dimensions of practicality to it. Come and join us as you continue on your journey towards passive income.
How? It all starts at the Think Rich Pinoy Seminars + Cashflow 101 /202 Game on May 15, 2010

Buy your seminar ticket here!

Free Bonuses:

1. The Breathlessly valuable: *Jay Abraham‘s “Master of Passive Income” transcript. “How to Create Multiple Streams of Revenue That Work 24/7 For you”. This 60+ page ebook is going to change the way you think–and earn! Who is Jay Abraham? Perhaps the world’s #1 expert on Passive Income and #1 Guru of Gurus when it comes to marketing. This ebook’s value alone is more than enough to pay for the seminar price.
2. Special Report compiled for Think Rich Pinoy only (not available anywhere else): The top mistakes pinoy real estate buyers commit.
3. We’re be raffling off a mentoring session: 1 Hour with Larry Gamboa. Ask him anything you want!
4. Enjoy a MARKETING TABLE, where you can leave your calling cards, brochures for people to pickup.

Attend the Think Rich Pinoy Seminar with Cashflow 101/202
Join Larry & The TRP Team

What : Think Rich Pinoy Workshop
When : May 15, 2010, Saturday
Where: PhilamLife Building, Manila
Text : 0926-999-9999 to get your slot or
Email: thinkrichpinoyseminar@gmail.com

Fee:
P2450/ US $ 53 – Early Bird Fee until April 16, 2010
P 2950/ US $ 63 – Regular Fee from April 17 to May 10, 2010

You can pay through Paypal or BPI bank deposit.
See payment details and additional discounts below

Buy your seminar ticket here!

P.S. Yes, bring a friend with you and learn together. It’s better that way!
P.S. Do you have any relatives who work abroad? Tell them about this so they can sponsor you. They will be glad to, just tell them to read this website! You’ll see.

FAQs Think Rich Pinoy! Seminar

1. Who are the speakers & topics?
Mystery Speaker – Your finances
Bo Sanchez – God vs Money, Is there really a conflict?
Larry Gamboa – Think Rich Pinoy Millionaire Network, Think Rich Pinoy Vision, Think Rich Pinoy Clubs
Ronald Cagape – Cashflow Game Facilitation
Guests – Your Personal Experiences with the game
Think Rich Pinoy Franchise members- Actual Real Estate deals (around 2-3 short talks)
Autograph Signing / Q&A Session

2, What is the difference from previous Think Rich Pinoy seminars?

a. Some attendees can get to play Cashflow 202. This is a more advanced GAME w/c contains stock options (puts and calls), network marketing, easier to bankrupt and harder to leave the rat race. Don’t know what I mean? That’s okay, play Cashflow 101 instead. 202 is designed for the “veteran player” and those who believe they have what it takes to become wealthy in a short short time.

b. To enhance enjoyment, there will be a contest among tables to see w/c one group gets out of the rat race more. If your group wins, congratulations, you have learned more!

c. People who wish to leave brochures, calling cards, samples to market to the seminar attendees may do so using a promotion/marketing table.

d. One of the attendees (you?!) can get to win a one hour mentoring/Q&A session with Larry Gamboa. It’s a raffle.

e. All attendees get to receive (after the event) access to special ebooks:
- Master of Passive Income – by Jay Abraham
- 10 Mistakes Most Real Estate Investors Make

f. What’s an ebook? It’s an electronic book, you read it from your computer. The format is normally Adobe Acrobat. To read it you’ll need the free Adobe Acrobat Reader from Adobe.com

3. How to register for the Think Rich Pinoy Events so I can participate?
You can pay the seminar fee via:

Bank Deposit: BPI Account Name: ESTI-TRP(Think Rich Pinoy); Account# 8291-0083-57. (Checking)
Paypal/Credit Card: Buy your seminar ticket by clicking this link.

Early Bird Fee is P2450 (until April 16, 2010) Regular fee is P 2950

4. How to confirm my registration?
Just email thinkrichpinoyseminar@gmail.com with the scanned deposit slip or paypal acknowledgment receipt with following data: Name, Address, Email Address, Cell # and Landline # AFTER you have paid via paypal or bank deposit.

5. Can we get a group discount?
If there are five of you, you can avail of the early bird discount (P2450.-) even until the last day of payment (May 10).

6. Other discounts?
If you want to attend AGAIN, you can pay 50% of the fee (P 2950 * 50% = P 1475.00) – just P 1475.00 to attend again and play cashflow 202 or 101, perhaps to challenge yourself. But you must hurry because there are very limited slots for these.

7. Maximum number of participants?
We can only accommodate 120 participants per session.

8. Is this a scam?
No. This is a financial education seminar and Cashflow game. The game uses play money. However, if your mindset is “scam” – unfortunately this is not the place to go – you won’t find any.

The goal of Think Rich Pinoy is to create wealth –using whatever legal means-though primarily through real estate – because that’s the safest way to go. You will not be required to buy property from Think Rich Pinoy people (at any given time we actually have only a handful available properties and we don’t get investors just because they have the money) -you go buy them from sellers out there in the world. We just enable you to start building your wealth.

Real Estate Investing Wisdom is not taught in schools. That’s why we’re doing this. But the Think Rich Pinoy is NOT an end of learning,it’s a beginning -so please do not make the mistake of thinking you’ll become wealthy because of this one seminar.

You might get one idea that can propel you to become a millionaire, it happens quite a lot. You might get it from the people, the game, the seminar, who knows? The important thing is -you’re ready to accept that idea and run with it. That’s where Think Rich Pinoy comes in-we make you ready or at least we set you off to the path of becoming wealthy.

9. Can I pay on the site (UN Avenue Venue)?
You may but there’s no guarantee of being able to play cashflow as the slots are very limited. Better to secure your seat via credit card (using paypal.com Buy your seminar ticket here!) or deposit to the bank. If you’re abroad, the best way is to open a free paypal.com account, connect your credit card to it–following it’s directions –so you can buy a ticket online. Connecting your credit card to a paypal account is not a quick thing to do-so I suggest you do so now-even if you’re planning to pay later.

10. Schedule?
May 15, Saturday, 2010, 8am (we start promptly) to 6pm.

11. Venue?
Training Pavilion of Philam Life, UN Avenue, Manila

12. How to get there?

Commuting:
Go down at the UN Avenue LRT station, walk towards the Manila Bay with Manila Doctor’s Hospital on your right. The Philamlife Building is in front of the Manila Pavilion/Casino Filipino.

Yes, it’s ironic but that’s where the Think Rich Pinoy event is held. Enter Philamlife entrance (not the casino). Just tell the guard “Think Rich Pinoy” and you’ll be pointed to a training room just beside the nice outdoor chapel in a garden is located – so it isn’t really ironic. Just fitting.

Toilets would be opposite the direction of the training room.

Car
If you have a car, the parking is on the back of the building. You’ll have to take the other street parallel to UN Avenue, that’s Padre Faura (from Taft in the direction going to Robinson’s Place Mall Faura Wing) and turn right at M Orosa, so you can reach the Philam Parking (w/c would be to your right.)

Map
A google earth/maps copy of the area is found in
http://fireurl.com/cggb

13. Lunch/Snack included?
Yes, we will serve a morning snack and lunch.

14. What should I bring?
If you want an autographed copy of your Think Rich Pinoy books, bring them.Bring a camera and get a photo shoot with Larry Gamboa. Why? Because it works. Most successful people do that, why shouldn’t you? Your choice.

15. When do you plan to do a seminar here in (Country,City)?
We’re coming up with a manual on how someone in your city can host a Think Rich Pinoy event. If you’re really serious about this, please contact thinkrichpinoyseminar@gmail.com and say “I want to HOST Think Rich Pinoy” and we’ll take it from there.

Right now TRP events are all held in Manila. You can “count the cost” and fly in- like some people do or simply wait it out. The most important thing is to DO SOMETHING.

Buy your seminar ticket here!

Source: Think Rich Pinoy Seminar site

I just might help facilitate one of the cashflow 101 games in the afternoon. I hope to see you there!

Happy learning!

To our financial freedom!

Jay Castillo

Real Estate Investor
Real Estate Broker License #: 20056
Blog: http://www.foreclosurephilippines.com
Click here to contact me via E-mail
Mobile phone (Call/SMS): +639178843882
Follow me in twitter:http://twitter.com/jay_castillo
Become a Fan in Facebook:Foreclosure Philippines fan page

Text by Jay Castillo. Copyright © 2010 All rights reserved.

PS. Are you a new visitor? Click here NOW to start learning more about foreclosure investing in the Philippines and don’t forget to  subscribe to e-mail alerts and get notified of new listings of bank foreclosed properties, public auction schedules, and real estate investing tips. Inbox getting full? Subscribe through my RSS Feed instead!

PPS. Due to the large number of inquiries from readers who either want to buy or sell properties, I have created online forms where interested parties can enter details online which helps us all save a lot of time  as all the required information can be answered in one shot. If you are a buyer looking for a property, please fill-up this form: http://www.foreclosurephilippines.com/tools/buyproperty. If you want to sell your property, please fill-up this form: http://www.foreclosurephilippines.com/tools/sellproperty. Thanks!

Think Rich Pinoy Seminar on May 15, 2010 is a post from: Foreclosure Investing Philippines

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I first played Rich Dad’s Cashflow 101 game way back in 2007, after I found Think Rich Pinoy Seminar attendees who organized their own cashflow 101 game sessions.

I was hooked ever since. I play cashflow 101 whenever I get a chance to do so as part of “sharpening the saw”.

I believe that the cashflow 101 game effectively simulates one’s  journey out of the rat race and I would like to share here what I have learned from playing what I consider to be a “life changing game” and its practical applications in real life.

Here goes my Top 7 lessons learned from playing Rich Dad‘s cashflow 101 game…

A photo of the cashflow 101 board game courtesy of Earth del Mundo

1. Simplify and get out of the rat race faster

I noticed that whenever I played the cashflow 101 game and was able to choose a “simple” profession like a truck driver for example, I was able to get out of the rat race faster. This happened during the Think Rich Pinoy Seminar I attended last August 2007. As a truck driver, although my salary was low, my monthly expenses were also very low.

Because I had  low monthly expenses, I already had a positive cashflow and all I needed to do was just get those passive income generating deals. After each payday, I had more money to invest, and with just a few passive income generating deals, I had enough passive income that exceeded my monthly expenses, and I was able to get out of the rat race faster.

In real life, I am applying the same strategy by reducing my monthly expenses by leading a simple life. This was also described by Bo Sanchez in his book “Simplify and Live the Good Life” and T. Harv Eker in his book “Secrets of the Millionaire Mind“. My family and I lead simple lives, which explains my very low target monthly passive income which is why I know I am going to get out of the rat race in real life very soon!

2. Start with small deals first, and the big deals will follow

In the beginning of the game, I always chose small deals even if they produced little cashflow. Later on, when the market presents good opportunities, I was able to sell or “flip” these small deals and then I used the profit to buy the bigger deals that produced greater cashflow, allowing me to get out of the rat race.

My four “green houses” which I’ll exchange for a “red hotel” during a recent game I played with Earth. I was not able to get out of the rat race during this game but we only played for an hour due to time constraints.

In real life, I am also following the same path. I focus on single family homes or properties which may produce little cashflow at  the very least, but can actually generate significant profits if “flipped” or sold through “rent-to-own”. I can then use the profit later when they are enough to get bigger deals that can produce bigger positive cashflow.

3. Over-leverage often leads to bankruptcy

During the game, we often encounter great deals that produce a lot of positive cashflow but require a big downpayment and it is tempting to borrow money from the bank just to be able to buy those great deals. However, there is such a thing as becoming over-leveraged which can produce negative cashflow situations because of the high monthly payments for those loans.

Even if one’s passive income is enough to cover the monthly payments for those loans, imagine if something happened and the monthly income of one’s investment properties were affected, suddenly the monthly payments for the loans cause a negative cashflow and can lead to bankruptcy. The same can also happen when one is downsized. This is the reason why one should avoid deals that lead to too much exposure or over-leverage.

Applying this is real life is a no brainer. I would not dare buy those multi-unit apartments unless they were in the same price range as the single family homes I focus on. As mentioned in lesson number 2 above, I can go for those bigger deals later when profits from my small deals are enough.

4. It is better to wait for a good opportunity than settle for those not so good deals

In the game, good opportunities come in the form of deals that have big ROI potential, and can be bought with little or no downpayment, while producing positive cashflow. If any of these elements are missing, I consider a deal as “not so good” and I pass them up and just wait for the good deals.

In real life, I do the same and patiently wait for good opportunities. If a not so good deal comes my way, I can either look for ways to make it into a good deal, or I just pass it up and wait for another more worthwhile deal to pursue.

5. Learn how to spot a good deal and grab it

One of the biggest challenges one faces in the game is how to spot those good deals so that you can grab them. Sometimes a good deal is right under your nose and it slips away because you didn’t realize soon enough that it was a good deal.

I believe spotting good deals is a skill and you can only learn this skill by continuously analyzing deals. Once you get the hang of it, you will start seeing those good deals more often. Normally those deals would have slipped away without you knowing it. If you see good deals often, it’s just logical that you will eventually grab one of those deals right?!

6. Learn how to protect your investments

I distinctly remember games where apartment buildings getting toppled by mud and all the cashflow generated by these properties are gone, unless I am covered by insurance.

Does Ondoy and Pepeng ring a bell? Who would have thought that a game like cashflow 101 actually teaches us to protect our investments from such disasters and calamities. Better get your investments insured with “Acts of God nature” coverage pronto!

7. Net worth is worth less, cashflow is king

Once you play cashflow 101, you will notice its emphasis on the importance of cashflow over one’s net worth. You will see that it really is more important to have positive cashflow from passive income. What is the use of having a big net worth if you don’t have any positive cashflow?

In real life, we should apply this by focusing on building our positive cashflow with income generating assets. Even if we have to use leverage to buy these assets, it really is okay. We call this good debt. Don’t be afraid to have good debts that buy real assets that produce the cashflow we need to get out of the rat race for real!

Get out of the rat race in the game, and in real life!

So you got out of the rat race when you played cashflow 101. So what?! That’s useless if you don’t take action and apply the lessons you have learned from the game in real life. But playing a game is one thing, doing it in real life is an entirely different thing… or is it?

I can truly say that Robert Kiyosaki‘s Cashflow 101 game is a “life changing” game because my life has really changed ever since I decided to apply in real life the lessons I have learned from it. Take note that I only listed the top 7 lessons I have learned and I can assure all of you that there are more lessons one can learn from this game.

People may find it hard to believe that one can learn so much from a game and can have such a huge impact in life. I guess you just have to play the game and experience it for yourselves.

How about you, have you played Rich Dad’s cashflow 101 game? What did you learn? Are you applying them in real life?

—

My vision – financial freedom for all!

Jay Castillo
Real Estate Investor
Real Estate Broker License #: 20056
Blog: http://www.foreclosurephilippines.com
Twitter: http://twitter.com/jay_castillo
Facebook: Foreclosure Philippines fan page

Text by Jay Castillo. Copyright © 2009 All rights reserved.

PS. If you are a new visitor, please start here to learn more about foreclosure investing in the Philippines.

Top 7 lessons I learned from playing Rich Dad's Cashflow 101 game is a post from: Foreclosure Investing Philippines

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Learn from the Think Rich Pinoy TEAM who’s been buying and selling foreclosed real estate for four years now in the Philippines! Yes it can be done. You don’t need to wait for a “recession” to buy property. Get into passive income now!

Buy your seminar ticket here!

What to expect in the Think Rich Pinoy Seminars…

Aside from hearing how several young people purchased their first (or 2nd, 3rd, 4th ) properties from the bank at foreclosed rates, complete with pictures, you can expect:

1. Talk 1 – Are you Financially Ready for the Future?
2. The Theology of Money: Talk 2 – Are God and Money really enemies?
3. The Technology of Money: Talk 3 – Pinoy Real Estate Riches Today and Updates
4. The Game of Money: – Cashflow 101 and 202, play the game for 3 hours with like-minded people, guided by seasoned experts
5. Talks 4,5,6 – Real experiences in buying and selling Pinoy Properties from the actual (young) people who did them.
6. Talk 7 – The Think Rich Pinoy Clubs and Pinoy Millionaire Vision 2020

OFWs-teach your family the value of money-in a fun way-via this seminar and the board game. Buy your family a couple of seats to this November 21, Saturday,2009 event.
As you will see, the seminar/workshop is not the same as the book. It adds many dimensions of practicality to it. Come and join us as you continue on your journey towards passive income.
How? It all starts at the Think Rich Pinoy Seminars + Cashflow 101 /202 Game on November 21, 2009

Buy your seminar ticket here!

Free Bonuses:

1. The Breathlessly valuable: *Jay Abraham’s “Master of Passive Income” transcript. “How to Create Multiple Streams of Revenue That Work 24/7 For you”. This 60+ page ebook is going to change the way you think–and earn!
Who is Jay Abraham? Perhaps the world’s #1 expert on Passive Income and #1 Guru of Gurus when it comes to marketing. This ebook’s value alone is more than enough to pay for the seminar price.
2. Special Report compiled for Think Rich Pinoy only (not available anywhere else): The top mistakes pinoy real estate buyers commit.
3. We’re be raffling off a mentoring session: 1 Hour with Larry Gamboa. Ask him anything you want!
4. Enjoy a MARKETING TABLE, where you can leave your calling cards, brochures for people to pickup.

Attend the Think Rich Pinoy Seminar with Cashflow 101/202

Join Larry & The TRP Team

What : Think Rich Pinoy Workshop

When : November 21, 2009, Saturday

Where: PhilamLife Building, Manila

Text : 0915-499-1999 to get your slot or

Email: thinkrichpinoyseminar@gmail.com

Fee:
P1975/ US $ 43 – Early Bird Fee until November 3, 2009
P 2450/ US $ 53 – Regular Fee from November 4 to November 21, 2009

You can pay through Paypal or BPI bank deposit.
See payment details and additional discounts below

Buy your seminar ticket here!

P.S. Yes, bring a friend with you and learn together. It’s better that way!
P.S. Do you have any relatives who work abroad? Tell them about this so they can sponsor you. They will be glad to, just tell them to read this website! You’ll see.

FAQs Think Rich Pinoy! Seminar

1. Who are the speakers & topics?
Mystery Speaker – Your finances
Mystery Speaker – God vs Money, Is there really a conflict?
Larry Gamboa – Think Rich Pinoy Millionaire Network, Think Rich Pinoy Vision, Think Rich Pinoy Clubs
Ronald Cagape – Cashflow Game Facilitation
Guests – Your Personal Experiences with the game
Think Rich Pinoy Franchise members- Actual Real Estate deals (around 2-3 short talks)
Autograph Signing / Q&A Session

2, What is the difference from previous Think Rich Pinoy seminars?
a. Some attendees can get to play Cashflow 202. This is a more advanced GAME w/c contains stock options (puts and calls), network marketing, easier to bankrupt and harder to leave the rat race. Don’t
know what I mean? That’s okay, play Cashflow 101 instead. 202 is designed for the “veteran player” and those who believe they have what it takes to become wealthy in a short short time.

b. To enhance enjoyment, there will be a contest among tables to see w/c one group gets out of the rat race more. If your group wins, congratulations, you have learned more!

c. People who wish to leave brochures, calling cards, samples to market to the seminar attendees may do so using a promotion/marketing table.

d. One of the attendees (you?!) can get to win a one hour mentoring/Q&A session with Larry Gamboa. It’s a raffle.

e. All attendees get to receive (after the event) access to special ebooks:
- Master of Passive Income – by Jay Abraham
- 10 Mistakes Most Real Estate Investors Make

f. What’s an ebook?
It’s an electronic book, you read it from your computer. The format is normally Adobe Acrobat. To read it you’ll need the free Adobe Acrobat Reader from Adobe.com

3. How to register for the Think Rich Pinoy Events so I can participate?
You can pay the seminar fee via:

Bank Deposit: BPI Account Name: ESTI-TRP(Think Rich Pinoy); Account# 8291-0083-57. (Checking)
Paypal/Credit Card: Buy your seminar ticket by clicking this link.

Early Bird Fee is P1975 (until November 3, 2009) Regular fee is P 2450

4. How to confirm my registration?
Just email thinkrichpinoyseminar@gmail.com with the scanned deposit slip or paypal acknowledgment receipt with following data: Name, Address, Email Address, Cell # and Landline # AFTER you have paid via paypal or bank deposit.

5. Can we get a group discount?
If there are five of you, you can avail of the early bird discount (P1975.-) even until the last day of payment (November 3).

6. Other discounts?
If you want to attend AGAIN, you can pay 50% of the fee (P 2450 * 50% = P 1225.00) – just P 1225.00 to attend again and play cashflow 202 or 101, perhaps to challenge yourself. But you must hurry because there are very limited slots for these.

7. Maximum number of participants?
We can only accommodate 120 participants per session.

8. Is this a scam?
No. This is a financial education seminar and Cashflow game. The game uses play money. However, if your mindset is “scam” – unfortunately this is not the place to go – you won’t find any.

The goal of Think Rich Pinoy is to create wealth –using whatever legal means-though primarily through real estate – because that’s the safest way to go. You will not be required to buy property from Think Rich Pinoy people (at any given time we actually have only a handful available properties and we don’t get investors just because they have
the money) -you go buy them from sellers out there in the world. We just enable you to start building your wealth.
Real Estate Investing Wisdom is not taught in schools. That’s why we’re doing this. But the Think Rich Pinoy is NOT an end of learning,it’s a beginning -so please do not make the mistake of thinking you’ll become wealthy because of this one seminar.

You might get one idea that can propel you to become a millionaire, it happens quite a lot. You might get it from the people, the game, the seminar, who knows? The important thing is -you’re ready to accept that idea and run with it. That’s where Think Rich Pinoy comes in-we make you ready or at least we set you off to the path of becoming
truly wealthy.

9. Can i pay on the site (UN Avenue Venue)?
You may but there’s no guarantee of being able to play cashflow as the slots are very limited. Better to secure your seat via credit card (using paypal.com Buy your seminar ticket here!) or deposit to the bank. If you’re abroad, the best way is to open a free paypal.com account, connect your credit card to it–following it’s directions –so you can buy a ticket online. Connecting your credit card to a paypal account is not a quick thing to do-so I suggest you do so now-even if you’re planning to pay later.

10. Schedule?
November 21, Saturday, 2009, 8am (we start promptly) to 6pm.

11. Venue?
Training Pavilion of Philam Life, UN Avenue, Manila

12. How to get there?

Commuting:
Go down at the UN Avenue LRT station, walk towards the Manila Bay with Manila Doctor’s Hospital on your right.
The Philamlife Building is in front of the Manila Pavilion/Casino Filipino.
Yes, it’s ironic but that’s where the Think Rich Pinoy event is held. Enter Philamlife entrance (not the casino).
Just tell the guard “Think Rich Pinoy” and you’ll be pointed to a training room just beside the nice outdoor chapel in a garden is located – so it isn’t really ironic. Just fitting.

Toilets would be opposite the direction of the training room.

Car
If you have a car, the parking is on the back of the building. You’ll have to take the other street parallel to UN Avenue, that’s Padre Faura (from Taft in the direction going to Robinson’s Place Mall Faura
Wing) and turn right at M Orosa, so you can reach the Philam Parking (w/c would be to your right.)

Map
A google earth/maps copy of the area is found in
http://fireurl.com/cggb

13. Lunch/Snack included?
Yes, we will serve a morning snack and lunch.

14. What should I bring?
If you want an autographed copy of your Think Rich Pinoy books, bring them.Bring a camera and get a photo shoot with Larry Gamboa. Why? Because it works. Most successful people do that, why shouldn’t you?
Your choice.

15. When do you plan to do a seminar here in (Country,City)?
We’re coming up with a manual on how someone in your city can host a Think Rich Pinoy event. If you’re really serious about this, please contact thinkrichpinoyseminar@gmail.com and say “I want to HOST Think Rich Pinoy” and we’ll take it from there.

Right now TRP events are all held in Manila. You can “count the cost” and fly in- like some people do or simply wait it out. The most important thing is to DO SOMETHING.

Buy your seminar ticket here!

Think Rich Pinoy Wealth Seminar on November 21, 2009: Your Passive Income Mentoring Starts Here! is a post from: Foreclosure Investing Philippines

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