This is an AI translated post.
[Investment Story] Loans You Must Know to Become Rich (by Rich Dad)
- Writing language: Korean
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Base country: All countries
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- Economy
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Summarized by durumis AI
- To become rich, you should analyze and implement the successful methods of the rich, and it is especially good to follow the methods of those who have become rich through real estate investment.
- Robert Kiyosaki explains that loans are divided into good and bad loans depending on whether they generate cash flow.
- Buying a house and renting it out to earn income is a good loan, while buying a house for your own residence or taking out a loan to buy a vehicle is a bad loan.
The first thing you need to do to become rich is to find a rich person who you can become, and
figure out how they got rich.
You should try to figure out how they did it and implement it, making it your own method.
Personally, I'm too far down the road to become a wealthy entrepreneur.
Excluding those who became rich through stocks, I should find the way of those who became rich through real estate investments and follow
them.
Robert Kiyosaki introduced the following about loans, which he used as a major tool in his investments. Understand and remember it in your
heart.
There are good loans and bad loans.
The criteria is whether or not the loan can generate cash flow.
If you say you bought a house, if you live in that house, there is no cash flow and that loan is a bad loan. On the other hand, if you rent out the house you bought, that's a good loan.
If you buy a car with a loan, it's a bad loan. If you buy a house with a loan and live there (assuming the house price doesn't go up), it's a bad loan. If you buy a house with a loan and rent it out to generate cash flow, it's a good loan.
Remember this well and act when the opportunity arises.
https://youtu.be/ipvqn8oA8Gw
