National production builders a paying above $2.00+ for raw land - that's way too rich for my blood.  

Good day Bigger Pockets Community,I have do have a current scenario I wish to receive feedback on please (see below).I'm brand new to the community and to real estate investing.I recently stumbled onto this website and have be drawn in as I'm looking for alternatives to working for someone else and the traditional work hard and save mentality.I recently (after hearing in many podcasts) listened to the Rich Dad Poor Dad audio book and was blown away.I now realize that there are other ways.My mind is busy with possibilities but in the short term I plan on learning as much ongoing, getting involved with either bird dogging and or wholesaling hopefully evolving to flipping and or buy and hold in the eventual future.I started to make some contacts with contractors and a possible hard money lender just thru casual conversations.It's exciting, but I know I have alot to learn.I own a home in San Jose, CA and wonder about leveraging the possibilities of the equity I've built.Here are some numbers.Owned for 15 years2Bedroom 1Bath with a 2nd story loft 1090sq ftI Owe $290k on 30yr mortage at 3.375%Owe a non-bank 2nd to my mom for $13.8k at 3.375%Estimates on Zillow $550k and Trulia $623kI was wonder about trying to time this market.Robert Kiyosaki and others talk about a nearing market crash.In hindsight (and we know what they say about that) I could have sold in 2007 for these current prices and entered back in 2009ish at a vast discount.I considered selling back then and now see the opportunity that was missed.Appreciate insights.

Rich Dad Poor DadRich Dads Cash Flow QuadrantRich Dads Increase your financial IQThe Real Book of Real EstateThe ABC’s of RE InvestingThe ABC’s of PMRich Dad RE Tax AdvantagesThe E-MythThe 4 Hour Work Weekhttp://flip2freedomacademy.com - free e-bookFlip2freedom episode 77[http://www.flip2freedom.com/a-3-step-formula-to-a-successful-balanced-and-insanely-profitable-2012/] - podcast - LISTEN TO THIS TODAY!

Read books (try to keep to legitimate books and not get rich quick ones).Attend the REI meetings.  

Rich Dad, Poor Dad by Robert kiyosaki2.

I think it's fascinating how for many, if not most, Americans we don't have much cash savings, and yet are viewed as "rich' to most of the rest of the world.

Right now, I'm reading "Loopholes of Real Estate" from the "Rich Dad Poor Dad" series, and there seems to be a huge opportunity to get major tax breaks if this is all done correcly.  

Cash foreign buyers and cash rich successful tech people are prime examples.

I myself am learning.As all the podcast stated, REI is not quick way to get rich; you have to be willing to invest your time and effort, like anything else.  

The final numbers are the following:Purchase Price: $170,000Total Investment (Down Payment + Renovations) = $25,950Annual NOI = $14,129.40 ($2800 per month in income - $1622.55 per month in expenses which includes mortgage, taxes, insurance, 10% vacancy, and 5% repair)Annual NOI after 30 years = $23,124Cap Rate = 13.6% Cash on Cash return = 54.4%So before reading Rich Dad, Poor Dad, I was under the impression that 401k's were the way to go.