tion。　That　is　why　the　ROI；　or　return　of　and　on　investment；　is　so　important。

For　example；　I　found　a　small　condominium；　a　few　blocks　from　where　I　live；　that　was　in　foreclosure。　The　bank　wanted　60；000；　and　I　submitted　a　bid　for　50；000；　which　they　took；　simply　because；　along　with　my　bid；　was　a　cashier's　check　for　50；000。　They　realized　I　was　serious。　Most　investors　would　say；　aren't　you　tying　up　a　lot　of　cash？　Would　it　not　be　better　to　get　a　loan　on　it？　The　answer　is；　not　in　this　case。　My　investment　pany　uses　this　as　a　vacation　rental　in　the　winter　months；　when　the　〃snowbirds〃　e　to　Arizona；　and　rent　it　for　2；500　a　month　for　four　months　out　of　the　year。　For　rental　during　the　off…season；　it　rents　for　only　1；000　a　month。　I　had　my　money　back　in　about　three　years。 Now　I　own　this　asset；　which　pumps　money　out　for　me；　month　in　and　month　out。

The　same　is　done　with　stocks。　Frequently；　my　broker　will　call　me　and　remend　I　move　a　sizable　amount　of　money　into　the　stock　of　a　pany　that　he　feels　is　just　about　to　make　a　move　that　will　add　value　to　the　stock；　like　announcing　a　new　product。 I　will　move　my　money　in　for　a　week　to　a　month　while　the　stock　moves　up。　Then；　I　pull　my　initial　dollar　amount　out；　and　stop　worrying　about　the　fluctuations　of　the　market；　because　my　initial　money　is　back　and　ready　to　work　on　another　asset。　So　my　money　goes　in；　and　then　it　es　out；　and　I　own　an　asset　that　was　technically　free。

True；　I　have　lost　money　on　many　occasions。 But　I　only　play　with　money　I　can　afford　to　lose。　I　would　say；　on　an　average　ten　investments；　I　hit　home　runs　on　two　or　three；　while　five　or　six　do　nothing；　and　I　lose　on　two　or　three。　But　I　limit　my　losses　to　only　the　money　I　have　in　at　that　time。

For　people　who　hate　risk；　they　put　their　money　in　the　bank。　And　in　t