So dudes on the coli really think owning is more important than money lol.

[Jekyll]

The everyday man is not a corporation.

Ok and? Money is just a number. Numbers are just math. Math generally applies at every level regardless of the numbers involved. The same reason a company like apple would utilize a portion of their credit to fund their business is the same reason an average Joe would.


You just have to actually know what’s going on…

 

[RareHunter]

How does this logic make any sense when ALL CASH buyers are running the real estate game now making it almost impossible for a middle class family to purchase a home?


Please stop this nonsense thinking. Money is the most valuable asset in the world. You literally can’t do anything without it including owning anything

You’ll learn the true value of cash very soon, and you’ll realize owning home and land are far more important. You do know there’s people who live without cash.

 

[fifth column]

Banks take your money and invest it, depending on which type of account you use, that’s the whole point of operation for a bank. Either that or it gets stored with the Fed Reserve.

Banks use your money to run their business then put the bank’s profits in whole life insurance which earn them safe 7-9 percent every year.

 

[Taadow]

Wrong, dominion over chit is control. For example the banks have control over non cash buying homeowners. Cash gives you control brother

Control is only part of dominion, it doesn’t trump ownership.

Would you let somebody try to control something you own against your wishes?

 

[fifth column]

Control is only part of dominion, it doesn’t trump ownership.

Would you let somebody try to control something you own against your wishes?

Default on your mortgage and see what happens. Ford company doesn’t own any of the car dealerships that sell their cars but they control the allocation and set msrp etc.. who do you think is more important the CEO of Ford or one of the car dealership owners that sell Ford cars?

 

[UberEatsDriver]

Let me help you out.

If you own a business and you make a million dollars in profits and take it out the company then you pay taxes on it. 40% I believe.

However if you instead use that million dollars to buy a million dollars worth of real estate (within the company) and then borrow against the real estate and get a million dollar loan with a very low interest rate 1.You don't have to pay taxes on the loaned money 2. Don't have to pay taxes on the repayment.

You can do the same thing with stocks.

That is why assets are better. They hedge against inflation because they appreciate and they give you the ability to get cash that is not taxed.

I think the best to have high cash flow, live debt free and reasonable and then use the excess cash to purchase assets. Also set aside a small amount of cash for emergencies.

If?

there’s no “if’s” when you have lots of money in your bank account.


You can literally own a business that is failing or produces no money.





Bonus - Most of the wealthiest people on this earth who got their money from scratch actually practiced excellent financial habits in the early parts of their life that gave them lots of money to do the things they are doing today.

all the assets that they own now came after they hit the jackpot in cash flow.

 

[itsyoung!!]

While yall debating over hypotheticals, my properties making me money and im looking to buy another more.

How are they making you money ?

 

[UberEatsDriver]

Another bonus - I didn’t actually expect most of you to agree with me. Middle class and poor people tend to get trapped in their style of thinking which is why they’ll be middle class and poor forever.


You got landlords and mom and pop shops struggling right now as we speak and they own something. How many millionaires do you know what’s struggling right now?


I don’t know any.

 

[xiceman191]

Money is more important because without it you can't own anything but in terms of building more wealth then owning is more important that just having the cash.

 

[UberEatsDriver]

I know home owners who ask people to lend them money




All my friends who put up their own money to start their business were less stressed than my other friends who took out business loans.




But keep believing that money takes a backseat




ALL CASH buyers are literally eliminating you middle class people from the real estate game but you still want to be ignorant about the importance of cash. Of course owning is important but owning is a stress reliever when you got these DOLLLA BILLZ

 

[Standing on business]

There’s so many different scenarios in regards to this that y’all can debate each other and all be right

 

[UberEatsDriver]

There’s so many different scenarios in regards to this that y’all can debate each other and all be right

True all I’m saying is that cash is the true bridge to being a boss. Dudes with cash have the easiest experiences with owning assets

 

[Taadow]

Default on your mortgage and see what happens.

Mortgages matter because they get the money and technically still have the house. lol

 

[Taadow]

True all I’m saying is that cash is the true bridge to being a boss. Dudes with cash have the easiest experiences with owning assets

If cash is "the bridge" to being a boss - then it ain't being a boss.

The dudes with "the easiest experiences with owning assets" are the people who have assets just given to them.

 

[Standing on business]

Thank you for proving that cash wins again. Rich people are able to get over on poor credit because of how much money they have.

This is true, money in the bank and a proven source of high income will make the lenders credit restrictions go straight out the window.