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One is physically realizing cash flow, or rent from the tenants. The mortgage of these types of properties is an asset because holding a mortgage holds economical value to you the owner. Same with a home in rural america cash flowing 200 a month. For an accredited investor showing proof of assets in the form of cash is difficult because how can I as a third party prove the cash is absolutely yours. Assets in this case are tangible items you can legally prove ownership of. Cash is tangible but difficult to prove absolute ownership and difficult to collect if lost in court. Renting a home is not economically superior to the homeowner because owning your residence inherently states you will live in the exact location. People do not need to stop inventing their own words and changing the fundamental meaning of words. Your statement is the following " If you own a home then the home itself is an asset, and the mortgage on that home is a liability. This is what I mean about the loan until payday owner not thinking it is an asset to the owner. The physical home is an asset to your lender, insurance company, the contractor because it generates them cash flow. The mortgage is not an asset to you the homeowner because it does not generate economical value unless traded. A mortgage is not an asset to you, the homeowner, it is an asset for the lender. Its purpose of existence is to generate an asset, your home.

The instant loans online today loans for bad credit in maryland home is an asset because it holds economical value. For the homeowner it is a liability because it leads to an outflow of cash, paying the mortgage. The mortgage industry profits from providing you a home once the mortgage is completely paid for.

During the life of the mortgage it is a liability to the owner and an asset to the lender because it is an asset with economical value that can be collected in court or foreclosure. Not because one thinks they are realizing a saving by not paying rent. By this I mean you can not say you are saving money because your mortgage is less than someone whos paying rent. You are simply comparing apples to oranges and stating your "saving" however, no physical cash flow is being earned.

Its an analysis derived by the mortgage industry to sell you a mortgage.

The asset itself is a liability because it does not cash flow and can be lost in court either by civil lawsuit or bankruptcy. The government understands this, which is why the preforeclosure and foreclosure laws where enhanced. The original argument was a mortgage is an asset because instead of paying 3000 a month in rent one pays 900 towards a mortgage thus realizing 2100 a month.

I said that was incorrect because theres no cashflow.

The physical structure or land is an asset,yes, but not the mortgage, regardless of the savings one thinks they are realizing by comparing it to someone paying guaranteed payday loan direct lender rent. Furthermore, your last statement, "How do you own something that is nothing but a liability, and end up profiting massively from it? The only reason you profit massively from it is because you rid yourself of the liability, thus now realizing a profit by no longer holding on to the liability.

Liability in the sense that the home did not cash flow before you sold it. You traded the liability for a profit because the mortgage industry are great at making people think taking out a mortgage backed by the physical asset of the home is an asset to the owner. When in fact even after paying off the mortgage the home continues to out flow cash.

The asset, the home, in this case hold economical value because the mortgage is backed by the physical asset, the home. The liability of holding the asset generates you a profit when traded. Not during the course of holding on to the liability. To a financial institution it is an asset because it holds economical value long after the mortgage has matured.

If the fact that it will ultimately be traded for a gain is the new definition of asset that you wish to use, then the house that I live in will also be ultimately traded for a gain. Neither the gold bar, nor the house that I live in generate me any cash flow on a monthly basis. The only time money is made is when the asset is sold. If the gold bar is an asset because it will eventually be sold for profit, then my home is also an asset because I will also ultimately sell it for a profit, or if I die prior to selling then my children will at some point sell it for a profit. Do you see what kinds of problems you run into when you start magically changing the definition of terms?

But wait, You also said when I sell I will realize cash flow. This is what happens when you invent your own terminology for what an "asset" means.

Then you say the gold will provide cash flow when you sell and is therefor an asset but the house can do the same thing. This fictitious definition of words leads to circular installment loans michigan logic that no longer makes any sense and is mental drivel.

What kind of mental gymnastics is this that it is both an asset and a liability at the same time. The correct logic cash advance no credit check direct lender is that the house is an asset, the debt on the house is a liability. By the definition of terms an item can not be both an asset and a liability at the same time. If an item is an asset and a liability at the same time, the net worth equation changes from being..


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If I buy at 950, as opposed to rent at 1600, then in 30 years I will have paid 342k towards my mortgage.

Being extremely generous, and for simplicity sake we will omit annual rent increases due to inflation and say that you just pay a flat rate of 1600 per month for renting.

That total then comes to 576k over the same 30 year time frame.

Thats a 634k spread in net worth between you and I when I decide to sell my home, and if I never sell my home and simply die then its still net worth for my children.

You can call it an asset, you can call it a liability, you can call it a whatsamacallit for all I care, but at the end of the day it makes me a ton of money. My rich dad always taught me not to listen to snake oil salesman, and that is what Kiyosaki is. He made his money in writing books and ripoff scheme workshops (search Robert Kiyosaki CBC on youtube), not in real estate.

I think you guys are missing the forest for the trees. Money used to be a medium of exchange, a unit of account, a unit of deferred payment and a store of value. Given that inflation can eat your money up, then having that store of value in real estate will preserve your capital. My rich dad always taught me not to listen to snake oil salesman, and that is what Kiyosaki is. He made his money in writing books and ripoff scheme workshops (search Robert Kiyosaki CBC on youtube), not in real estate. My rich dad always taught me not to listen to snake oil salesman, and that is what Kiyosaki is. He made his money in writing books and ripoff scheme workshops (search Robert Kiyosaki CBC on youtube), not in real estate. Kiyosaki is a (very good) author and a merchant marine. He teaches common sense, but his ideas that teachers are slaves and will never make it for example, is wrong. New York (outside the city), northern New Jersey and lower Fairfield County teachers are millionaires by the time they retire. I scrolled down a while and just saw a bunch of people arguing. Actionable advice guaranteed payday loan direct lender for getting started,Discover the 10 Most Lucrative Real Estate Niches,Learn how to get started with or without money,Explore Real-Life Strategies for Building Wealth,And a LOT more. Sign up below to download the eBook for FREE today! I have two small homes in the back that share a water and electric meter. How do I handle utilities for these homes since they share a meter?? Should I ask the two tenants to split the bills down the middle?? Do I put it in my name and have tenants pay me for the utilities?

Decided to add it into the rent and have one flat rate. Too much hassle to split the bill and play bill collector every month in my opinion.

If for pure convenience, I cant see it being worth it unless you can split the units down and sell them individually in the future.


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I would take the average usage per the utility company, use that to determine what you think the monthly bill would be and then pad it some to account for using more than the average. No gas If you do not have the funds to separate the utility meters, then you have two options (which one is a PITA). Each month when utility bills arrive separate the total by the number of tenants in each unit, then bill tenants. This is your option if tenants are already in the unit with a lease in place or.... Call utility and get a 12 month average on both meters and add this amount to rent for new tenants or a new lease. You will need to get a 12 month average each guaranteed payday loan direct lender year so you are not paying a partial of their utilities. Next time you purchase a rental make sure you have enough reserve funds to cover issues that are unforeseen. In light of they fact that they have no history your only option is to have the utilities in your name and bill the tenants each month by splitting the costs.

If you do not do this you will end up losing money. Once you have a history established over a couple of years you can then add it to the rent (plus a premium) for new tenants.

No other option, aside from separate meters, will work in your case. You should look into the cost of separate meters in the future. One of my rear homes is about 470 sq ft and the other is about 750 sq ft. And I hear him constantly bitching about various meals the LL cooks, the number of people living there, the guests coming etc. This compares to his simple life with his wife where they did little cooking.

Saves all guaranteed payday loan direct lender the trouble of billing them separately, following up on it, and arguing about it with the tenants. Aka separate water taps, separate water lines, and completely separate plumbing. You have to hire an electrician to rewire the whole house so the other unit has completely separate breaker box and electric lines.

Aka separate water taps, separate water lines, and completely separate plumbing.

Where I am, zoning rules restrict the number of meters already to prevent the proliferation of illegal rental units. When my co-worker was complaining about the landlord splitting the gas bill with him, he said "all you need is another meter". Even if one can be installed, around here, each gas bill contains a fixed charge per month for having the service. Over the years, I tell tenants to take it easy on using utilities, especially like AC in the summer. Funny, I have a unit I used myself as an office that has a separate electric meter.