Quotes About Property

Un buen administrador me permite comprar más bienes raíces porque no tengo que ocuparme de reparar los inodoros.

Real estate gives the investor much more hands-on control over their assets.

Why not buy a property that makes you money every month and get a tax break every month.

there were other ways to finance a property rather than through the bank.

The owner wanted $102,000, but we offered only $79,000. He took it immediately and agreed to carry back the loan with a 10 percent down payment.

As soon as the owner moved, my friend put the house up for rent. After all expenses were paid, including the mortgage, he put about $125 in his pocket each month.

I advised that he sell it, using a 1031 tax-deferred exchange.

Today, McDonald's is the largest single owner of real estate in the world, owning even more than the Catholic church. McDonald's owns some of the most valuable intersections and street corners in America and around the globe.

My house is a liability, and if your house is your largest investment, you're in trouble.

you should understand the difference between an asset and a liability. When I want a bigger house, I first buy assets that will generate the cash flow to pay for the house.

mortgage interest is a tax deduction.

I simply let the idea of investing in real estate for passive income rattle around in my brain for years before I bought my first property.

tax-lien certificates

A bigger home meant bigger expenses

They treat their home as their primary asset, instead of investing in income-producing assets.

your money is tied up in your house

Unless you're getting passive income from your house, it is a liability and not an asset.

The more apartments he builds, the more the price of rent goes down.

1031: Jargon for Section 1031 of the Internal Revenue Code, which allows a seller to delay paying taxes on a piece of real estate that is sold for a capital gain through an exchange for a more expensive piece of real estate.

I collect real estate simply because I love buildings and land. I love shopping for them, and I could look at them all day long. When problems arise, the problems aren't so bad that it changes my love for real estate. For people who hate real estate, they shouldn't buy it.

Is it an investment property? Is it rented? What is the current rent? What is the vacancy rate? What are the average rents in that area? What are the maintenance costs? Is there deferred maintenance? Will the owner finance? What types of financing terms are available?

Section 1031 of the Internal Revenue Code, which allows a seller to delay paying taxes on a piece of real estate that is sold for a capital gain through an exchange for a more expensive piece of real estate.

Rich Dad Lesson: "Your house is not an asset.

From Rich Dad Poor Dad, you may recall that Ray Kroc, McDonald's founder, said, "My business is not hamburgers. My business is real estate.