Zx2guy19

I wonder if everyone on this site looks at everything in life so black and white. I understand accounting (like you, just the basics...I hated it in college), but there are alternative ways to view things. That's all I'm trying to portray. I'm sorry some of you can't see outside of your 1976 thought process.

I didn't go back and quote your original post, but I have largely been considering selling my personal house and renting until the market corrects itself. I can sell for a ~60k or so profit now and pick up a rental that would pay my rent at an apartment and wait for the market to correct and go buy another house.

Damn, you must be dumb. He has 5k INCOME PRODUCING properties, which are assets. This entire argument is based around a personal house, not investment. Since you're clearly ignorant, I'll put it even simpler: Personal house (non income producing): Liability Investment house (or anything income producing): Asset

That's slicing it down too deep. I could make the case that my house is an asset because it allows me to shower to get to work. The car cost me money every month and doesn't deposit money into my account. Liability.

You got that right lol.

Does it make you money? All of my cars cost me something every month, between gas, insurance and general maintenance. Liability.

I'll just agree to disagree. My mindset is working. Every month, I have a sum of money deposited from my assets, and I write a check for my liabilities (including my personal house). I bet you do 401k too :gabe:

https://www.google.com/#q=rich+dad+poor+dad+asset+examples Is this guy a quack too? Owner of over 5k properties and worth over $100M, sold millions and millions of copies of his book series. He must be an idiot. Because your narrow minds say so.

Again, since I seem to have to repeat myself: I view an asset as something that makes me money. When I finish a house rehab, I typically have 30%+ in equity (always my goal), but I don't view that house as an asset until it's rented and providing me money every month. Maybe there's another name for what I'm referencing, but until I find it, I view my rental properties as assets because they're income producing, and my personal house as a liability (even with over 50k in equity).

Yeah, I get the way a bank views it and the traditional definition. It's just not the way I view it (clearly I'm wrong, because you said so).

Damn, was just about to text you about this thread. Great deal!

I guess I just view it a different way. I view assets as something that makes me money, as do some of the most successful investors in history. If I have a house worth 200k and I owe 100k, I view it as me having 100k in equity. Not the house as an asset. Andrew/Supplicium, please, don't assume that because I don't view it the same way as you that I need any type of lesson. I'm well aware of how to run an effective investment business with multiple assets.

Lol dude that's what this forum is, and I think we're all okay with it. I'm not name calling or anything, just talking about assets vs. liabilities. Calm down brother.

This, x1000! Trish, you are a better person because of her. Just think of all the roofs she is climbing on in doggy heaven. Take comfort in knowing she's at peace now. Stay strong, friend!

Sorry folks, Lauren is right (fucking kill me now). Anything that does not make you money is a liability, plain and simple. And Bigger Pockets isn't "some blog"...it's the largest real estate investing site in the world.

PM>all

PM Title: 614-991-0827 Ask for Daniela

I work with a really good agent. As a buyer, you pay nothing to be represented by them. I'll PM you his number.

I'm not sure what you're referencing? Between 2015/2016, I've owned 4 new cars for a net loss value of 2k. I'll pay that any day to have fun.

I don't flip. I'm surprised you didn't call me a cuckold

As a real estate investor, I hate this shit. I used to pick up houses like pennies on the street. No one wanted them. Now every cock smack in the city wants to rehab a house like they're on Flip or Flop. Fun fact: I just cashed out over 200k in equity on some of my properties I picked up back in 2012/2013 and bought 2 more from Sheriff sale. Downside is you have to pay cash and it's sight unseed. Upside is I got potato prices (I'm 79k into a house fully rehabbed that will appraise for 120k. In this market, that's crazy). I am really considering selling my personal house. I owe about 110k on my house in Hilliard that would sell for 190-200k in a day. I can take that equity and buy a condo or something closer to work. Now that I'm divorced, my house is just too much house.

And the SVT block has oil squirters from the factory. I have a soft spot for the 2.0 Zetec (see my screen name).

I actually didn't do it myself, had a certified plumber do it. Yes, he's a friend, but he usually charges me for labor lol. It is black iron pipes btw. You can T off somewhere existing, get a sweet drill bit and run that shit right through your foundation (that's what he did). I can see if he's interested in doing it again, but he does limited side work now. I have another line running to my grill out back. Fucking awesome...I now have 4 unused propane tanks in my shed "just in case".

Interested for my niece.

Huh?