Quotes About Real estate

your money is tied up in your house

People who sell their house on their own must not value their time much.

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.

McDonald's fame, sold hamburger franchises, not because he loved hamburgers, but because he wanted the real estate under the franchise for free.

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.

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.

bought a bigger house for the tax breaks that he never really got.

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.

In America, one of the advantages of investing in real estate over paper assets is this legal loophole in the tax code.

Keep in mind that it's not the asset class that makes a person rich or poor. For example, when a person asks, Is real estate is a good investment? I reply, I don't know. Are you a good investor? Or if they ask, Are stocks a good investment? again my answer is the same, I don't know. Are you a good investor?

simply keep deferring their real estate capital gains and then, at the end of their lives, roll that real estate into something like a charitable remainder trust.

My personal basis is real estate. I love real estate because it's stable and slow-moving. I keep the base solid. The cash flow is fairly steady and, if properly managed, has a good chance of increasing in value. The beauty of a solid base of real estate is that it allows me to take greater risks, as I do with speculative stocks.

put $4,000 into paint and repairs, and put it up for rent.

Your profit is made when you buy, not when you sell." Every property we bought had to have a positive cash flow on the day we bought it, and it had to have a positive cash flow even in a bad economy.

most people will not invest in real estate because of the acquisition, liquidity, and management challenges.

shed his Harvard persona in his late twenties and moved to South Carolina, where he'd immediately made a fortune in real estate. Judging from everything Emily had told me, he'd morphed into a first-class Southern boy, a real straw-chewin', tobacco-spittin' hick, which of course appalled Miranda, the epitome of class and sophistication. B

This is terrific. What a gorgeous kitchen. You've decorated it so beautifully. Now you're going to have to clear all the counters. Vases. Books. Knickknacks. Get rid of all that stuff. I mean, it is just beautiful. Beautiful. I love what you've done with this house. Make sure you put it all away." ~Real estate agent (p.76)

Nothing you will ever do in your lifetime is likely to make you as much money as buying a home and living in it.

Would you invest in landscaping if you knew your property values were going to keep declining? Maybe it's better to spend your money on an escape pod with leather seats and a Bluetooth system.

Liquidate labor, liquidate stocks, liquidate the farmers, liquidate real estate…. It will purge the rottenness out of the system.

I always say, 'What if you had to sell the house tomorrow?' And if it's too idiosyncratic, someone won't buy it and then it's a bad house.