Know the difference between an Asset and a Liability. April 9, 2008
Posted by Sören Zschoche in : Uncategorized , comments closed
Many people say their house is the greatest asset they got and also their largest investment. In the most cases their car is the second greatest asset they got and they are really proud of it. But are these thing really assets? Unfortunately I have to say the in most cases they aren´t they are liabilities and the reason for that fact is that they absorb your money like a sponge. For example a car has many extra costs gas, taxes, repairs and so on, also a house needs very much money for energy, repairs to say nothing of the price you have to pay to buy it. So when you want to become rich it´s very important to know the difference between an asset and a liability.
Asset = Money into your pocket
An asset puts money into your pocket, an asset should generate income on a regular basis. The traditional definition of an asset is anything that you own is worth something-that could be “turned into money” if you needed it to be. Look around your room. Is there anything that might be worth something? You probably have more than you think… a computer, a TV, a cell phone? Skis? Your assets also technically include the balance in any bank accounts in your name, or the current value stocks bonds that you have your wallet.
But here´s the catch: While might consider everything of value in your room an “asset” (because you could sell it for decent money on eBay), it´s not really an asset until it is sold. Why? Because it´s not putting any money into your pocket until then. (And then, it´s not longer an asset because it not longer belongs to you!) Same thing goes for cash in your wallet, your cash is not secretly reproducing itself, putting more money into your pocket. But there are places other than your wallet where cash “reproduces itself”- when it´s invested in assets that give you a passive portfolio income. Anything you own that produced passive portfolio income is an asset.
Liabilities = Money out of your pocket
Liabilities are the opposite of assets. Liabilities take money out of your pocket. In fact, a lot of things mentioned above- the TV or computer in your room that that might traditionally be considered “assets”-are actually liabilities right now, because it took money out of your pocket just to get them. And many of them, when converted to cash, would give you back less money than you would pay for them. So just if the value of your house or your car grows more than you pay for it you can call it an asset.
Source: Rich Dad Poor Dad for Teens
How to Live Rent-Free April 9, 2008
Posted by jshum in : Rent, realestate , add a comment
Learn how to keep that money in your pocket
and also how to get FREE REAL ESTATE, houses, apartments and raw land using little-known methods, insider secrets, corporate sponsors and special laws that allow _anyone_ to use the governments help to acquire abandoned or mismanaged property with NO MONEY. (I didn’t say “no money down” I said… NO MONEY …FREE!) Check it out!
Don’t even think about getting a First or Second Mortgage until you read this! April 9, 2008
Posted by jshum in : Lending, Mortgage , add a comment
If you want a mortgage with the lowest rate… for the lowest points and fees… here’s exactly how you do it! If you want to avoid the schemes and tricks mortgage brokers use to “gouge” you for extra fees and “points”, avoid the common mortgage shopping blunders people make everyday that cripple them financially over 15… 20… even 30 years, or if you just want manage your mortgage to build financial security rather than sell yourself into financial “slavery” for 30 years- then this might be the most important letter you ever read. See for youself!
Discover What Real Estate Deal Makers Know April 9, 2008
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Have you ever wondered what some of the secret ways master real estate deal makers use in structuring real estate deals? Well, you are about to discover what is in that gap between you and what master real estate deal makers know!
Their knowledge that comes from experience is a KEY difference! …And their secret financing strategies are about to be disclosed to you right here…
Pay Your Mortgage Off In 10 Years Or Less April 9, 2008
Posted by jshum in : Lending, Mortgage , add a comment
Learn How To Quickly Build At Least $40,000 Worth Of Home Equity And Pay Your Mortgage Off In 10 Years Or Less Without Making Biweekly Mortgage Payments- Or Changing Your Current Mortgage.
After 4 years of research, some clever individual has developed a simple mortgage reduction program that will quickly build your home equity and pay your mortgage off faster than any other mortgage reduction strategy available…without changing your current mortgage and without the use of a biweekly mortgage plan.
You’re probably thinking it sounds too good to be true…And I completely understand your skepticism. But please allow me to further explain how your mortgage can be reduced through Mortgage Cycling: