Rich Dad - Buying assets to pay for liabilities
One of my favorite take-aways from Rich Dad Poor Dad was the idea of acquiring assets with adequate cash flow to pay for your life "liabilities"
I recently got a call to inform me that I'd be receiving an early payoff on a property I sold a while back. Now, I have the opportunity to place $30,000 to work for me.
I have the following scenarios to choose from - can you calculate the return for each of the choices below
A. Payoff my truck. Currently owe $20,000 at $600/mo and 5.5% interest rate
B. Payoff a Private Money Loan 2nd that I used to buy out a business partner. Currently owe $12,500 at 15.0% interest. 17 payments of $866/mo remaining
C. Reach out to a previous note seller to buy 48 payments of a note they hold. $30,000 for 48 payments of $1083.21. There is a $20/mo service fee that the holder pays.
2
1 comment
Jay Chekansky
3
Rich Dad - Buying assets to pay for liabilities
RE Cash Flow Simplified
skool.com/re-cashflow-wo-tenants-6843
Learn how to control real estate with Seller Finance to create cash today - cash flow - and equity all without the headaches of rentals or tenants
Leaderboard (30-day)
Powered by