Rich Dad Education – Real Estate Blog

Dedicated to Elevating the Financial Well-Being of People from All Walks of Life

Category Archives: Keith Gensor

Keith Gensor sounds off on Finding Comparable Properties

Education, Real-World Knowledge, and GoldPerhaps you’ve heard someone tell you how much their vehicle is worth, the value of their piece of jewelry, or a certain collectible? In order for something to have a particular value and be worth a certain price, you have to have a buyer for it.

The more unique your jewelry or collectible is, the smaller the percentage of buyers you may or may not have; which reduces what someone will pay for it. That is why “comparables” are so valuable because it is not an arbitrary value, but one that shows the past history of what a buyer actually paid for a similar property. No guess work or prejudice is involved; simply the facts and actual numbers of what one buyer paid one seller for their particular piece of real estate. If that doesn’t determine value, I don’t know what does!

Even though it may appear that houses & properties, neighborhoods & zip codes may be all over the map, if you step back and look intently and over time, you will see patterns & trends in values of real estate. These patterns and trends can be over a particular time frame, e.g. seasons of the year; a particular style house e.g. split foyer, 4 bedrooms, etc.; or a certain zip code, street or neighborhood in a town.

And when you start to see what the norm is, you also see the anomalies. You can determine when a house is overpriced, or better yet, underpriced. It will literally stick out as a property that when compared to the “comparables” is less than what it should be.

Even though all houses are unique in one way or the other on the micro-level, on the macro-level they are also commodities. A particular 3 bedroom/2 bathroom/2-car garage house with 1800 square feet & a pool should sell for approximately the same as another identical house on the same street – all things being considered.

All things being considered is also known as rehab costs. What will it take to bring the subject property in line aesthetically with the comparable houses?

At Rich Dad Education, we call this: Segmenting the Market and Scanning for Equity and is the foundation of our new CORE Class. We teach you how to break your market down and how to find deals. The next & final step is the deal mechanics – close deals with the appropriate strategy. Not only do we teach you how to do this from the comfort of your own home, we have created proprietary software that does this in seconds, allowing you the time to focus on your highest & best use.

We have taken Real Estate Investing and created a step-by-step SYSTEM that, if done correctly, is fail-proof. And we call it CORE.

Yes, it truly is amazing!

Happy New Year and here’s to 2014 being the best year for you yet.

successAs an entrepreneur you are responsible for your own fate. In other words, you design your own life, piece by piece, day by day, week by week, until you have built your life, and ultimately your legacy.

Each & every day you get to determine how happy you want to be, how productive you are going to be, how successful you are going to be, and so on…

You see, you are not a victim of circumstances, instead you create your own circumstances. You are responsible for everything that happens to you. (If you don’t believe that right now, then realize that you are responsible for how you react to everything that happens to you and we can start from there.) This is called being proactive, in other words, making a choice.

And when you are fully aware that you are responsible for everything that happens to you, for everything that you do, for everything that you attract & manifest into your life, then you will realize the enormous power that you wield coupled with your ability to achieve it – then, and only then, will you get anything & everything that you want.

So how do you go about achieving this? First you need to determine what it is you really, really want. Who do you want to be? What do you want to do? What do you want to have? Now, you can make this list out with tangibles or intangibles, nouns or adjectives, but this is going to be your endgame – what it is you really want out of life. From there, you have to come up with a plan, what it is that you need to do annually, monthly, weekly, and eventually daily to ensure that you are doing exactly what you need to in order to get exactly what you want to.

I’m sure you’ve heard the expression: the whole is greater than the sum of its parts. This applies to your life as well. The small things you constantly do on a consistent basis over time is what will lead you to the life of your design, but more importantly to the legacy that you truly want to leave behind.

In order to BE successful, you have to ACT successful. You have to do exactly what successful people do. Find someone who is successful and model them. In simple terms, do more of what works and less of what ins’t working. Simple? Yes. Easy? No. Why? Because it requires re-programming yourself from years of conditioning, years of schooling, of media messaging that being average is great. Well, being average is not great; it is OK. That’s all it is. If you want to be average, than surround yourself with average people and model them. If you want to be wildly successful, than surround yourself with wildly successful people and model them. Find someone who will mentor you. Build a network and a Mastermind. Come to our Rich Dad Education Symposiums and surround yourself with other Investors who are successful.

Remember, you are in control of your own life. You need to determine what exactly you want in this life and your legacy that you leave behind for others (tangible & intangible, wealth or debts, will the world have been a better pace for you having lived on it?) Then you need to do the things that will get you there – consistently & constantly over time. You need goals, you need habits, you need routines, you need support, you need accountability, you need knowledge, and you need a network of people who support you and who will share in your successes.

You will find all of this at Rich Dad Education. Begin 2014 right and make this the best year of your life. Determine who & what you want to be this year and map out a strategy to go forth and get it. You have an entire network of supportive Trainers, Mentors, Elite training Advisors, & fellow Students who are willing & able to help you. It is up to you to apply yourself.

Have a great 2014! We look forward to working together with you as you make this your best, most productive, & successful year ever.


Keith Gensor

%d bloggers like this: