The sought-after trinity of wealth, income, and real estate are the central themes of this book, themes which I have attempted to present realistically and in context. I freely admit that in a harsh world prospective investors will have to work and save and that such success as one may achieve won t come easily or overnight. Thus this is not a book about instant wealth, guaranteed suc- cess, buying property without capital, getting loans without credit, or predatory investment tactics. Nor is this book so gen- eralized that readers will feel compelled to call a toll-free num- ber and buy seminar seats or audio tapes costing hundreds of dollars. Instead, I have focused on realistic strategies and usable infor- mation that readers can employ within the bounds of a mean- ingful investment program. The idea is that wealth-building is an evolutionary process, one that can be accelerated with infor- mation, ideas, capital, and personal energy. Real estate has always been an attractive investment choice, because it--along with labor, capital, and entrepreneurial ef- forts-is one of the four classic sources of wealth. It s a commod- ity that can be rented, traded, sold, subdivided, financed, refi- nanced, or developed, and because so many ways to manipulate real estate exist, there are numerous opportunities to increase value and create income. In addition to its basic economic advantages, real estate has been blessed with a variety of tax benefits and preferences. Even after tax reform, substantial incentives remain for those
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