Exactly, we've been taught college degree makes us "smart" but banks do not care about our degrees. Banks want to see assets liabilities, they want to see our financial statement. I am so grateful for rich dad books taught me new points of view and knowledge about money. I understand there are 3 basics" income statement, balance sheet and cash flow(passive income). There are 3 types of income: Active income, Portfolio and Passive income When we learn, when we understand money, we transform everything that we get totally new way of thinking on how to build wealth.
My house is not an asset... but I bought it for $325,000 and now it's worth $850,000. That's a profit of $324,000. According to this video it's not an asset until I sell it LOL. This whole concept is beyond me, why would you go in debt billions of dollars to buy real estate just to avoid paying taxes. Essentially you are just managing the banks assets, you feel like you are making money with the cash flowing in but in reality you don't own anything. Not that smart.
Exactly, we've been taught college degree makes us "smart" but banks do not care about our degrees. Banks want to see assets liabilities, they want to see our financial statement. I am so grateful for rich dad books taught me new points of view and knowledge about money.
I understand there are 3 basics" income statement, balance sheet and cash flow(passive income).
There are 3 types of income:
Active income, Portfolio and Passive income
When we learn, when we understand money, we transform everything that we get totally new way of thinking on how to build wealth.
My house is not an asset... but I bought it for $325,000 and now it's worth $850,000. That's a profit of $324,000. According to this video it's not an asset until I sell it LOL. This whole concept is beyond me, why would you go in debt billions of dollars to buy real estate just to avoid paying taxes. Essentially you are just managing the banks assets, you feel like you are making money with the cash flowing in but in reality you don't own anything. Not that smart.
How much have will you pay for the house on your mortgage, taxes and upkeep? Does that to to more than you house is worth right now?
Why are you putting people down? What makes you so special? Just cuz you got money when you die the money will do you no good and hell😂
Wow, this guy knows a lot about money. Unfortunately that’s it…
Just to remain on this planet lots of money is needed. And you say that's it? Wow, I'm not sure what you're trying to say