Points to Remember

■ Owning a million is about turning your investments into actual net worth that shows up on your balance sheet. To do so, you must concentrate on the Buy and Hold strategy, maximizing and accelerating your Equity Buildup.

■ Along the journey, you are likely to encounter issues in five principal areas:

• Criteria: The Guiding Light

♦ Stick or Switch—Pick a niche, learn it and master it. Repetition is the mother of mastery.

♦ Become an Expert—Learn your niche through study and observation, experience and doing, asking and listening.

♦ Think in Units—Consolidating management costs and limiting potential losses on individual units is efficient, and can increase the net cash flow of your investment.

♦ Acquisition Terms—Put the property under contract quickly, negotiate everything, and master creative financing.

♦ Operating Terms—Maximize your NOI by increasing gross rental income, controlling expenses and minimizing vacancies.

♦ Disposition Terms—Knowing why you are selling determines your strategy. Remember, selling only makes sense when you can maximize the cash you take out and then put it into another investment that brings a better return.

• Network: Together Everyone Achieves More

♦ Associate with Talent—Hire carefully and have a process to do so.

♦ Top-Grade—Find the best and demand the best.

Work from Written Proposals and Contracts—"Get it in

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