Let’s stop for a moment and have a little test to see if you’ve been paying attention. Remember Jason’s 10 Commandments for Investing? Have you taken them to heart? Do you know them forward, backward and upside down? Well, we’ll see about that. The following list of 11 items contains all of Jason’s commandments (out of order) and one screaming falsehood. Can you pick out the dud commandment without looking it up?
• Thou shalt have a professional investment counselor
• Thou shalt use prudent financial planning techniques
• Thou shalt diversify
• Thou shalt borrow to maximize leverage, accelerate wealth creation and reduce risk
• Thou shalt invest only in tax-favored assets
• Thou shalt guard against inflation by maintaining high equity in your home
• Thou shalt only invest where there is universal need
• Thou shalt be Area Agnostic™
• Thou shalt not gamble
• Thou shalt maintain control
• Thou shalt become educated
If you picked the sixth statement, you were…right! Maintaining high equity in your home would be an anti-commandment. That’s like putting your head on the railroad tracks and waiting for the inflation train to flatten you. Get that equity out of there where it’s being devoured by inflation daily and make it work for you with income property investing.
The Platinum Team
