Page 256 -

INDEX

all cash, 119 Commodore Hotel, New York, 7–8
borrow from family Communication:
and friends, 119 entrepreneurial skill, 27, 91

government-financed loan, 119 great communicators, 27
seller fi nancing, 120 with ourselves, as form of
step 7 (due diligence), 111, 121 programming, 27
dealing with problems, 121–122 with outside world, as infl uence, 27
step 8 (closing the deal), 111, Competition, enjoying, 3, 10–11
122–124 Contract attorney, 51
lease assignments, 122 Corporate securities, 179–180
lien search and fi lings, 123 Corporations:
promissory note, 122 asset protection (see Asset protection)
purchase price allocation, 123 C corporations, 207, 222
transfer taxes—bulk sales fraudulent use of, 225
taxes, 123 limited liability corporations
Buying habits, reducing expenses: (LLCs), 207, 222, 223
buying online, 80 S corporations, 206–207, 222
buying used cars, 81 tax strategies, 206–207
Cost, millionaire mindset and, 16
Capacity, loan underwriting and, 145 “Creative class”, 154, 155
Capital gains, 204 Creativity:
Career risks, as obstacle to focusing on, 23–24
entrepreneurship, 94 leveraging other people’s, 17
Cash: Credit, loan underwriting and, 145
American Express as modern-day Credit cards. See also Debt:
equivalent of, 43, 67 American Express as modern-day
buying business with, 119 cash, 43, 67
loan underwriting and, 145 cash versus, 43–44

Cash flows and real estate investment, cutting up, 67
155–156 lender’s terms, not using, 66–68
Cash-out refi nance, 138 negotiating debt down, 67–68
C corporations, 207, 222, 225 online sources on available rates, 68
Certified Financial Planner (CFP), Cuban, Mark, 27

48, 53 Customer(s):

Character, loan underwriting and, 145 capturing first “magic,” 97, 108–109
Charitable giving plan, 64, 78–79 concentration issues, in buying a
Charitable Remainder Trust (CRT), 215 business, 118
Christmas presents, 80 Customizing products, 108
Chunking, 25
Civil liabilities, 225. See also Asset DBA (Doing Business As), 105
protection Debt:
Closing the deal (buying a business), avoidance, as one of “Seven Prac-
111, 122–123 tices of the Rich,” 58, 64–65
Clothing, saving on, 81 case study (Stan and Barbara), 70–73
Collateral, loan underwriting and, 145 committing 10 percent of gross
Commercial properties, 157–160 income to credit card
Commission-based advisors, 46–47 payments, 68–69

233

8/23/07 4:43:08 PM
bindex.indd 233
bindex.indd 233 8/23/07 4:43:08 PM