Tuesday, May 18, 2010

Think Rich Pinoy Wealth Seminar Review

As promised, this post will discuss the lessons I got from the Think Rich Pinoy Wealth Seminar.

There were a lot of speakers who shared valuable information. They were:
a. Larry Cleto from Philam
b. Larry Gamboa

c. Bo Sanchez

d. Ronald Cagape
e. Eden Dayrit

f. Victor Gamboa

g. Randy Manaloto

h. Jay McLean

LESSONS Learned from the SPEAKERs:

1. Proper Wealth Management: Accumulate, Preserve, Transfer
2. Financial Freedom is relative to lifestyle
3. Income is a source of Wealth.
4. There is WEALTH more than enough for everyone.
5. Wealth FACTOR: Discipline and Time.
6. Why Real estate investment is SAFE: Bank accepts Real Estate Properties as collateral compared to Stocks.
7. Going to PROMISE LAND:
  • a. Phase1: Desert Experience
  • b. Phase2: Desert with Manna Experience
  • c. Phase3:Promise Land Experience
8. We need to allow our Kids to Experience desert
9. Three Steps to Enjoy Promised Land
  • a. Depeat the Giants
  • b. Work the Land
  • c. Remember the Lessons of the Desert
10. Use Wealth to LOVE.
11. Be Ready for Failures.
12. Fail Quickly and Try Again.
13. If there's a Problem, Fix it! Don't wish that it will go away because it won't.
14. Pay attention to details.
15. Factors on Implementing Every RE Strategy
  • a. Change your Mindset
  • b. Pre-screen the location. Best if near were you live.
  • c. Do Extreme Marketing
  • d. Always Think of Positive Cashflow
  • e. Build Relationship: buyer, seller, tenant, broker, lender, bank, supplier, lender, staff, colleagues, mentors, students.
  • f. Leverage on Money, Time, People, Relationships, Skills, Personal Knowledge.
  • g. Self- Improvement: Continuous Learning. Learn from Mistakes.
  • h. Giving Back and Paying Forward. *** Always be grateful and SHARE your blessings!
16. FACEBOOK is one of the best channel to do your marketing.
  • - let your contacts: Know, Like, Respect, Trust and Invest in You.
17. Real Estate Investors Problems
  • - Nobody knows that they exist.
  • - Nobody knows the VALUE they can Provide.

After the talks and lunch, we played CASH FLOW 101 for 2 hours. It was my 2nd time playing the board game. I was happy that i got out of the rat race after 1hour and the fast track after 25mins. I believe that I could have gotten out of the Fast Track earlier if I didn't act as a banker at the same time. By the way, I was the 3rd person who got out of the rat race and also placed 3rd getting out of fast track.

My tablemates while Playing

HOW did I get out of the RAT RACE:

1. Profession: Truck Driver

2. Strategy: Build CASH enough to cover my whole expenses if I will be downsized.
3. After accumulation enough cash, did small deals.
4. Bought a Property.
5. After buying the property, the player next to me stopped on the "MARKET" and got this CARD.
6. Immediately sold my Property.
7. On my next step to the opportunity track, I selected a BIG deal, I was blessed enough to find a very GOOD DEAL that moved me out of the RAT RACE.

HOW did I get out of the FAST TRACK:

1. I acquired business which gave me a cash flow equal to the requirement.

LESSONS Learned on my 2nd time Playing CASH FLOW 101:

1. Your occupation will not make you rich. It is your MINDSET and ACTIONS=STRATEGY.
2. Build Emergency Fund before Investing.
3. CASHFLOW remains king to get out of the RAT RACE and FAST TRACK.
4. Real Estate can either bring you CASH or CASHFLOW depending on how you deal with Deal.
5. Be open for opportunities.
6. Real Estate and Businesses are the sources of your CASHFLOW. The more you have, the better.
7. Get out of the Rat Race the soonest so you can help others.
- I played the role of the banker after getting out of the Rat Race and while playing on the FAST TRACK.
- I helped the other players on the issues they encounter while they are playing.
8. Get out of the FAST Track the soonest, to help more.
- I was able to answer more of my co-players questions after getting out of the track because I already stopped working "IN" my "BUSINESS".
- By that time, I have more time helping others.

After the game, there was a sharing of the things that we learned while playing. 4 people shared. It was a very nice experience.

What I like about the seminar:

1. It started with a PRAYER.
2. It has a mission of making 1(one) Million Millionaires by 2020.
3. There are a lot of inspirations that we got from the speakers.
4. The CASH Flow game is a worthwhile experience. It's addicting.
5. The free Book (TRP or TRQ ) they gave after answering the Survey Sheet.

*** I will definitely recommend this to my family and friends.

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