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Tuesday, May 5, 2009

Great Time to Start Your Own Business

Many people, including some real estate agents, do not know that a real estate agent is a small business owner. Okay some agents are big business owners and I'll admit that I'm not at that level yet. Most agents are independent contractors and are responsible for their own taxes and insurance. This allows them to take advantage of many of the tax loopholes offered to small business owners.



Robert Kiyosaki has introduced us to his Cash Flow Quadrant. The quadrant is made up of employees, small business owner, big business owner and investor. The majority of us like the stability we get as an employee. We are starting to realize that is not so stable. In Robert Kiyosaki's book "Rich Dad Poor Dad" his rich dad diversified himself in the quadrant and took advantage of the tax loopholes offered to all sectors.



What is my pitch? In these tough economic times we need to reinvent ourselves and sometimes diversify our income sources. For those of you who are still employed, you should be looking at ways of creating an income source. For those of you who have recently been laid off you should also be looking at doing the same. Being a real estate agent is not for everyone and I am not suggesting it for everyone. For those of you who enjoy talking to others about financial independence, investing, and/or homes then you should consider starting your own business in real estate.



This is a field that doesn't have huge barriers of entry. You don't even have to buy any inventory. The start up cost is very minimal. It is not a pyramid scheme. It is a business that revolves around relationships. Understanding that owning a home is beneficial to most and for many is the only investment that they will ever make. You are selling a dream and although the financial payoff can be good the biggest reward is knowing you helped someone.



I'm always looking for agents that are self motivated and independent but for those who are just starting I do love to coach and get you to that level where you are independent. I'm also always looking for agents in other areas that I can refer clients to. If you're interested in finding out how you can start or how you can make money from referrals, call or email me.

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