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Heru Nekhet. Recession Driven Riches
Recession Driven Riches. The Untold Secrets to Creating and Preserving Wealth in the New Economy. Heru Nekhet
Dedication
Acknowledgements
Foreword
Introduction
How to Use This Book
What Really Is Wealth?
How Was This Economic Disaster Created?
Greed and Fear Create Bubbles and Recessions
The Real Estate Bubble and Crash
Acknowledge and Accept the New Normal
Important Changes to Pay Attention To:
Resistance is Futile
Reinventing Yourself for the New Job Market
A New Way to Measure Risk
Risk Assessment
Managing Risk
Risk Recovery
Profiting From the Real Estate Crash
Key Current Trends to Consider
Important Rules to Remember
Rule # 1: Only invest in what you understand
Rule #2: Don’t try to predict the future
Rule #3: Understand the difference between price and value
Rule # 4: Know your ultimate goal for the investment
Rule #5: Minimize risk
Rule# 6: Be patient
Rule# 7: Avoid overleveraging
Rule #8: You can’t do good deals with bad people
Strategies to Consider
Lease Option
Why Use a Lease Option Now?
Additional Lease Option Benefits:
Best Use Principle
Short Sales
Assigning Short Sale Contracts
The Real Estate Auction
Kinds of Auctions
Types of Bidding
Bank Owned Properties or Real Estate Owned (REO)
How to Find REOs
Property Management
Trash out
Conquer the Crash by Building a Solid Investment Portfolio
Cash Value
Why Saving Cash in a Bank No Longer Makes Sense
The New Gold Rush
Gold Bullion
Numismatics
Gold Exchange-Traded Funds (GETF)
Other Ways to Invest in Gold
Bonds
Bond Funds
Stocks
Mutual Funds
Exchange Traded Funds
Debt
Important Rules to Remember
A Good Business Finds a Want and Fills It
Become a Business Owner Not Self Employed
Why Most Business Owners Fail
Start With the Right Purpose in Mind
Where to Find a Hot Target Market
How to Choose the Right Product/Service
Ask Yourself the Following Questions:
How to Conduct Market Research
Make Sure You Understand Market Trends
Systematize Every Detail of Your Business
Operations entail:
Marketing entails:
Finance entails:
Human resources entails:
Financing Your Business
Always Have an Exit Strategy
Potential Exit Strategies:
Introduction to Part III
Shift Your Priorities
Growth Requires You to Challenge Your Core Beliefs
Equity vs. Cash flow
Rethink Retirement
Make An Honest Assessment Without Judgment
Some Things to Assess
Stop the Bleeding, Start the Breathing and Prevent Shock
Strategic Default
Cut Costs Not Lifestyle
Additional Cost Cutting Strategies
Prevent Shock
Focus on Opportunities
It All Starts with the Right Question
Beware of the Laments of Others
Develop Value Vision
Decode the Market
Matrix for Success in the New Economy
Get Organized for Success
Organize Your Physical Environment
Organize Your Thoughts
Organize Your Time
Time Savers
Become Market-centric (Global is the new local)
Never Leap Before You Look
Global is the New Local
Fail Proof Your Ideas
Become an Expert on One Thing
Innovate, Innovate and then Innovate Some More
Forward Thinking
Maximize the Use of Technology
Accessibility
Efficiency
Research
Time
Sales
Marketing
Internet Resources
Flexibility and Adaptability Have Replaced Durability
Create Strategic Alliances
The Short Cut to Success
Develop a Team of Skilled Professionals
3C’s of Compatibility
Questions You Should Ask Before Hiring a Professional
Build Strength into Your Team
Additional Things to Know
Financing Through Strategic Alliances
Maintaining Strategic Alliances
Masterminding
About the Author
Отрывок из книги
To my father for showing me what true courage and strength is in the face of adversity.
Genuine thanks and much appreciation go to the heart and soul of Insiders Group, Curtis John, for his tireless efforts and support over the past several years.
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Much has been written and even exploited in the past few years about creating the proper mindset to “attract” wealth as though a positive mental attitude and affirming that you want something is enough to make your dreams come true. The real secret to a success oriented mindset is based upon how you process and act on information. Rarely has the truth been told that no matter how many books you read, expensive seminars you attend, wish lists or picture boards you create, you will always be on the losing side of wealth unless and until you begin to process information like a business owner or investor. I’m sure you’ve seen enough examples of athletes, entertainers and lottery winners gain and lose millions of dollars to realize that it takes a change in your cognitive analysis (awareness, perception, reasoning, and judgment) of opportunities to create financial freedom for yourself. The hard and fast truth is that if you think like a poor person, you will always be poor. No matter how much money is dropped in your lap, you will find a way to lose it.
In order to succeed, you must have the courage to immediately abandon nearly everything you ever thought you knew about making money. Success requires the strategic mindset of a forward thinking business owner or investor to see the great opportunity that this economy presents to realign your assets and reposition yourself by letting go of all current liabilities (nonperforming 401(K), upside down properties, high interest credit card debt, dead end job, etc.) and focusing on the new opportunities that have been created from the chaos (real estate short sales, foreign ETFs, new green business opportunities, etc.). It requires you to constantly analyze your financial position by simply doing the math and finding ways to cut costs and increase income. A strategic mindset focused on effective, efficient opportunity exploitation and minimization of loss is needed to increase your chances of success.
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