✔ Retire Early With Real Estate
All You Need To Know About Your Investment Options
Saturday November 5, 2016
1:00 PM to 2:30 PM
Centre For Wellbeing
480 Roncesvalles Avenue
✔Education ✔Empowerment✔Access to Deals
It seems like every financial “expert” says, “Your house is your biggest asset.”
When Robert Kiyosaki wrote Rich Dad Poor Dad, he said that your house was a liability.
Your financial planner, real estate agent, and accountant all call your house an asset. But in reality, an asset is only something that puts money in your pocket. If you have a house that you rent out to tenants, then it’s an asset. If you have a house, paid for or not, that you live in, then it can’t be an asset. Instead of putting money in your pocket, it takes money out of your pocket. That is the simple definition of a liability.
This is doubly true if you don’t own your home yet. Then it’s the bank’s asset, and it is working for them, but it’s not earning you anything.
So what is an asset?
In business terms, assets are your pros and liabilities are your cons. You need assets to offset your liabilities. But what exactly are assets?
The simple definition of an asset is something that puts money in your pocket. This is accomplished through four different categories, one of which is real estate. When I say real estate, I don’t mean your personal residence, which is a liability. What I mean is investment real estate, which is a great investment because it puts money in your pocket each month in the form of rent.
There are three other primary assets: business, paper, and commodities. If you are an entrepreneur or a business owner, your business is an asset. Paper assets are stocks, bonds, mutual funds, and so on. Finally, commodities include gold, and other resources like oil and gas, and so on.
Robert and his wife started out making their money in real estate, putting their money to work in properties that they could rent out and see ongoing returns. After that, they diversified, so now they have some money in all of four of these asset areas.
Laure will show you how you can transform your house (= liability) into an asset (= puts money in your pocket)!
Presenter: Laure Ampilhac
Mortgage Agent & Certified Wealth Management Advisor
✆ (416) 358-9686 ✆ (877) 764-9492
iBrokerPower Capital Inc (The Mortgage Centre) Lic# 10538