R
obert Kiyosaki, author of "Rich Dad Poor Dad," challenges conventional wisdom on wealth-building. He advocates for real estate as a foundation of wealth and shares his top investment tips. Key to building wealth is not working for money, according to Kiyosaki. Instead, he advises becoming an entrepreneur, citing that he doesn't have a paycheck or pay taxes.

    Another crucial tip from Kiyosaki is using other people's money (OPM) by raising capital and leveraging debt to buy properties. He emphasizes the importance of assembling a team of advisors, including brokers, lenders, attorneys, bookkeepers, and accountants, to avoid costly mistakes. A good team can help investors navigate complex real estate investing.

    Kiyosaki also promotes trading up by selling smaller properties and using the proceeds to acquire larger ones that generate more income. He suggests taking advantage of a "1031 exchange" to minimize capital gains taxes. However, novice investors should consult with licensed professionals before making any investments and seek tax advice on proposed strategies.

    Finally, Kiyosaki stresses the importance of education in real estate investing. His website offers various resources, including online courses, books, and communities, such as a "30-Day Wealth Building Challenge" that includes reading personal finance books, watching wealth-building content, taking an online course, and joining a wealth-building community.