If you think Kendra Todd is just a pretty winner’s face yousaw on Donald Trump’s “The Apprentice” television show, her new book”Risk and Grow Rich” will change your thinking. This 27-year-oldtycoon is a very savvy real estate investor who shares her strategies forbuilding wealth by accepting risk.
The book’s emphasis is on accepting risk, planning for it,and using risk to your advantage. Todd is obviously wise beyond her years. Nowonder “The Donald” selected her as his apprentice to supervisedevelopment of his Palm Beach, Fla., property. However, the book is remarkablysilent about the apprenticeship and the TV show, although Trump says on thebook jacket, “Kendra Todd has done a great job as an Apprentice, so I’mnot surprised that she has also written a terrific book.”
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Todd understands the challenge and importance of takingrisks to create wealth. Her specialty, along with co-author Charles Andrews, ishelping investors acquire properties that are likely to appreciate in marketvalue. The book includes several examples. Her concentration is onpre-construction condominiums, a high-risk investment.
Although Todd is a real estate investor, the book is mostlyabout how realty investors should tolerate risk. She explains there are smartrisks that can produce positive results. “Think like a poker player,”she advises for evaluating risks and rewards.
“If you want to grow, you must risk” is a greatsummary of this book’s message. However, Todd shares how to carefullyinvestigate real estate risk before proceeding. She suggests having plans andcontingencies in place to anticipate unexpected problems.
Calculate, initiate and mitigate summarize Todd’s advice. Bythat, she means calculate the specific opportunity, take action, but beprepared to look for ways to benefit even if the realty investment doesn’t payoff as expected. Although Todd is a very positive person, she never forgets tocreate a “fall back” position to cut losses if all does not go well.
Throughout the book are “Kendra’s Rules of Risk,”such as, “risk is the father of reward” and, “if you wait untilyou feel 100 percent ready to move, you will never take the first steps.”Her other rules are equally profound, especially for a highly focused27-year-old.
Particularly enjoyable are Todd’s bits of wisdom, such as,”The self-employed shall inherit the earth,” and “the morecontrol you have over your financial destiny and the growth of your income, thebetter your odds of becoming wealthy.”
Although Todd is just at the start of her real estateinvestment career, her book focuses her thinking and shows readers how they canalso benefit from her sage advice for what she calls “risk diving.”
Chapter topics include: “How Risk Became a Four-LetterWord”; “The 10 Biggest Myths About Risk”; “Risk andReward”; “Mars, Venus, and Risk”; “‘Entrepreneur’ is JustRisk Misspelled”; “How to Become a Risk Diver”; “10 Stepsfor Turning Risk into Opportunity”; “Setting Yourself Up forSuccess”; and “Formula for Making Your First Million.”
Whether you are a beginner or an experienced real estateinvestor, this book offers sound advice from which every reader can benefit.The author can’t point to dozens of years of real estate success, but sheorganizes her techniques into a format from which every reader can improvetheir lives by taking reasonable risks. On my scale of one to 10, thisexcellent book rates a solid 10.
“Risk and Grow Rich,” by Kendra Todd with CharlesAndrews (Harper Collins-Regan Books, New York), 2006, $24.95, 244 pages;available in stock or by special order at local bookstores, public libraries,and www.Amazon.com.
(For more information on Bob Bruss publications, visit his
Real Estate Center).
Copyright 2006 Inman News