You may be surprised to hear that your home is not the investment you thought it was. When buying a home most people think that they are buying an investment. But what if I told you that this may not always be true. While the bank will view your home as an asset, you should not!<\/p>\n
Let us look at why: <\/strong> Rule One. You must know the difference between an asset and a liability. Robert Kiyosaki author of “Rich Dad, Poor Dad” explains, “the primary cause of financial struggle is simply not knowing the difference between an asset and a liability.”<\/p>\n Ask yourself these simple questions:<\/strong> Here’s how we tell the difference between an asset and a liability: An asset is something that puts money in your pocket. A liability is something that takes money out of your pocket.<\/p>\n Conclusion: <\/strong>If you want to buy an asset, buy something that puts money into your pocket. Maybe your first home should be a duplex or triplex. Why? Because it generates revenue.<\/p>\n <\/p>\n","protected":false},"excerpt":{"rendered":" You may be surprised to hear that your home is not the investment you thought it was. When buying a home most people think that they are buying an investment. But what if I told you that this may not always be true. While the bank will view your home as an asset, you should […]<\/p>\n","protected":false},"author":2,"featured_media":3558,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","sfsi_plus_gutenberg_text_before_share":"","sfsi_plus_gutenberg_show_text_before_share":"","sfsi_plus_gutenberg_icon_type":"","sfsi_plus_gutenberg_icon_alignemt":"","sfsi_plus_gutenburg_max_per_row":"","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[6],"tags":[],"class_list":["post-120","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-estate-investing"],"yoast_head":"\n
\n1. Will this put money into my pocket? (Rents, laundry machines, signage, etc.)
\n2. Will this take money out of my pocket? (Need a new fence, repave the driveway, mortgage, condo fees… )<\/p>\n