A rental property is an asset as it
generated regular income from the
investment. Your primary home or
recreational property is not an asset,
it's a money pit requiring regular maintenance, renovations, property tax
and if there is a woman in it you will
have to fill it with expensive frilly
crap. At the end of the day it's value
is volatile and highly unpredictable,
money only flows one way into that
sucker and that is a liability by
definition.
generated regular income from the
investment. Your primary home or
recreational property is not an asset,
it's a money pit requiring regular maintenance, renovations, property tax
and if there is a woman in it you will
have to fill it with expensive frilly
crap. At the end of the day it's value
is volatile and highly unpredictable,
money only flows one way into that
sucker and that is a liability by
definition.
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