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In this very quick wrap-up video of the Billionaire Inside, Donald Trump shares his most important rule to live by:

Above all else, never ever quit.

He says there are many important tips for success such as "love what you do", "know what you're doing", but the number one thing is to never quit.

For more information about this program visit billionaireinside.cnbc.com

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In part 5 of the Billionaire Inside, Donald Trump talks about how your business and personal lives overlap and how to get balance between the two. 

 Part 5 Summary:

•  business begins with an idea but you must be able to implement
• only you can know when the right time is to leave your job in order to build your own business and it's a tough decision to make
• it's very hard to have balance in your personal life when you love your business
• if your spouse is not understanding of what you're doing it's not going to work
• too much of a distinct personality / look can be a liability but you've got to be yourself
• the biggest mistake he's made in business was losing focus
• his idea of a vacation is a working vacation
• you can position your business at either end of the spectrum and still succeed
• on branding: you have to get the word out
• you may need to be more creative with advertising when starting out on a small budget
• prenuptial agreements are sad, ugly instruments but you have to protect yourself from the downside

I'll have the final installment of the Billionaire Inside for you tomorrow.

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Alright, here is part 4 of our six part video series with Donald Trump.  Today's clip concludes the discussion on real estate investing from yesterday.  Enjoy.

 Part 4 Summary:

• there's so much going on in Dubai it's hard to resist
• the US better get smart or it will get left behind
• there's great opportunities outside the US
• China and India are probably the most exciting markets right now
• real estate is largely a local business so make sure you have great partners when investing away from home
• now is definitely the time to go out and pick up some residential properties at a big fat discount but you will probably want to rent them out and hold them for a while
• it's easier to rent out in a down market
• the worst of the real estate recession is close to being behind us

Feel free to leave a comment below.  And we'll continue with part 5 tomorrow.

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Today's excerpt of the Billionaire Inside is pretty short and unfortunately the audio drops out for a moment at one point.  However it gives you an insight into Donald Trump's opinions about the state of the real estate market and what that means for investors.  So here it is along with the summary below.

 Part 3 Summary:

• now is THE time to get into real estate
• there is less interest in real estate now when there should be more than ever
• it is not a time to sell though - so don't be thinking that it's a bad time because you can't find buyers
• to get into commercial real estate learn from a good commercial firm
• commercial is more of a people business - you need contacts

Okay, that's all for part 3 but we have three more parts of this program to review this week so stay tuned.

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Here is part 2 of our 6-part video series with Donald Trump for this week.  The summary is below and part 3 tomorrow is where he talks most about real estate so stay posted.

Part 2 Summary:

• face-to-face is often the only way to do business
• he has been lucky in building his brand but you still have to know what you're doing
• education isn't a must but it gives you a big advantage
• on luck he quoted golfer Gary Player: "The harder I work, the luckier I get."
• keep great people around you and keep them motivated but stay smarter than them
• persistence is a state of mind

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Whether you love him or hate him it would be rather silly to imagine you can't learn a thing or two from Donald Trump about success and real estate.  But, to be honest, I hadn't paid much attention to his information myself because I just didn't imagine there was much relevance for the average RE investor who invests in single family homes.  However, I've started reading a book called "Trump Strategies for Real Estate: Billionaire Lessons for the Small Investor" by George Ross and have been surprised how much relevant information there is. And due to that fact, I went hunting for some videos of Donald sharing some tips for success.

Low and behold, I found a 6-part series on YouTube which is actually from a special episode of the Millionaire Inside that premiered in October 2007.  The special was named the Billionaire Inside for obvious reasons and I thought I'd share each of the 6 parts with you over the coming week.  Keep an eye out for the third part in particular where he talks about real estate, the credit crisis, and what that means for investors.

Full article… Donald Trump Video: Success Tips and Insights Pt.1

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As a follow up to my previous post about whether now is a good time to invest, I just found this Rich Dad video on YouTube which is very helpful.  I wish I had found this earlier in the year given it is about predictions for 2008 but it is still very pertinent to this discussion since the major trend at the start of the year is still very much in force - the housing and mortgage crisis.

The views expressed by Robert and his advisers should really provide some clarity for people who are trying to determine what action they should take given the current state of real estate markets.

Well, I hope that has shed some light on the current state of the markets and will help you make more confident decisions regarding your investing activities.  Don't forget to submit your questions and comments below.

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We've been talking about ways to reduce risk for beginners so you can muster enough courage to do that first deal.  One of the best ways to mitigate risk in real estate is by doing a thorough financial evaluation as part of your due diligence.

But here's a great tip from our friends over at FlippingHomes.com.  Using a Letter of Intent to make your offers is a great way to ease your nerves as a beginner and I strongly encourage you to start applying this idea if you are having trouble getting started.  I used this approach myself when starting out and it certainly helped me.  I remember being quite anxious signing a contract for the first time.  So for those of you looking for a little more peace of mind, this might help.

So, there you have it.  A quick and easy tip today but a very effective one for beginners.

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