Real Estate Tip: Assets and Liabilities

A really quick tip for you here today.

Assets pay for your liabilities. So they're greater than your liabilities. This is so important. This is something that I learned about seven or eight years ago. It changed my life and I got really tech, but I didn't learn this in school. So your assets are things like cash flow from the stock market, cash flow from rental properties, from apartment complexes, cash flow from a business. Maybe you own a laundromat or something. You own something that gives you money every single month pays you more money in positive cash flow than it costs you an investment. Liabilities are things like your primary house, your car, jet skis, things like that. I think that takes money from your pocket every single month. Your assets, your business, your positive cash flow pay for those liabilities. So you have a $300-car payment. You need something paying you $300 a month. That'll get you richer every month. That pays for a $300 car payment. That is a quick tip for the day.

Remember - assets are greater than your liabilities and you'll be set for life.