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CASHFLOW Quadrant
INCOME STATEMENT
Income
Expenses
Interest
BALANCE SHEET
Assets
Liabilities
$75,000
Mortgage
And remember rich dad’s rule: “If you take on debt and risk, then
you should be paid.” Well, in this transaction, I would have taken on
both the debt and the risk, and I was the one paying for it.
About a month later, we found a piece of land for $115,000 that
was even more beautiful. It was 87 acres of tall oak trees with a stream,
and it had a house. I offered the seller full price if he would give me
my terms, which he did. To make a long story short, we spent a few
dollars fixing the house and sold the house and 30 acres for $215,000,
using the same idea of “low down payment, easy monthly payments.”
We kept 57 acres for ourselves.
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