Most people are fascinated with the prospect of becoming rich that only a few pause and think of a way of getting and staying out of financial trouble. In his book, 'Rich Dad Poor Dad', Robert Kiyosaki is keen to point out that your expense column is a crystal ball. If this does not make sense to you, don't worry - it will be explained in detail as you read on.
It Begins With A Balance Sheet
As an individual, you have assets and liabilities. An asset is any property you own (not necessarily of physical value) that has value and which you can use to meet debt, commitment or legacies. Vehicles, cash, supplies, equipment and accounts receivable are your assets. You will remember that we mentioned that an asset does not necessarily have to be abstract. Well, this is where accounts receivables come in. This refers to any amount owed to you for service delivered. For example, if Alex delivers a parcel but isn't paid immediately then the cash owed to him for the delivery is as asset known to as Accounts Receivable. Other assets include real estate, notes, bonds and royalty payments among others.
Liabilities, on the other hand, are obligations or amounts owed to others. It could be in the form of wages, loans and interest, utility bills and accounts payable (amount owed for goods purchased on credit). In other words, liabilities are expenses. Your assets and liabilities at any particular time can be summarized in a balance sheet. If your asset column is greater than your liabilities column then you are on the safe side. After all, your assets can comfortably pay for your liabilities.
Building your Asset Column
As it has been previously highlighted the key to financial success is assets. Investing in the real estate is the perfect way for you to build your asset column. At assetcolumn.com you can buy and list real estate. Wait, did you read that right? Assetcolumn.com? True to its billing the company provides you with a list of investment opportunities, gives you funding to buy property after which you list your investments for sale.
How it Works:
- Get notified of investment opportunities - just fill in your name, email address, phone number and the state you'd wish to invest in and get alerts whenever an investment opportunity presents itself.
- Buy leads - contact sellers looking for investors just like you
- Get funding - once you have identified the property you wish to buy, find a lender willing to finance the deal
- Advertise with us - with thousands of investors viewing your list of investments you can be assured of a good deal. A lot of people, think that it's hard to come across good deals in real estate. Actually, there are plenty of deals out there and it all begins here at assetcolumn.com.
On a light note, you should remember that unlike carrots, the best thing about you isn't in your roots. What are we driving at? Well, forget what you had then and focus on what you have now. The bottom line: start building your asset column.