accounting: Do you think your home is your greatest asset?
- 03/03/07 03:05 AM
Most people we speak to in the real estate biz think that their home is their most valuable asset. Unless they live in a multi-family that generates positive cash flow they are seriously mistaken. Put quite simply an asset puts money in your pocket. If your house is costing you on a monthly basis how is this viewed as an asset? In my eyes, and in the opinion of many accomplished investors, your home is your greatest liability. In order to truly become wealthy you need to have your assets generate enough passive income to surpass your monthly expenses. This is accomplished not only … (1 comments)
Most people we speak to in the real estate biz think that their home is their most valuable asset. Unless they live in a multi-family that generates positive cash flow they are seriously mistaken. Put quite simply an asset puts money in your pocket. If your house is costing you on a monthly basis how is this viewed as an asset? In my eyes, and in the opinion of many accomplished investors, your home is your greatest liability. ;)
;)
