Turn Your Home into an Asset | PPhREI Network Roundup | 1-13-2023

by The Darwinian Doctor

In this PPhREI Network Roundup, we discuss cutting the cable cord, how to transform your home from a liability into an asset, and how to see the big picture in real estate investing.

This post may contain affiliate links.

Carpe Diem MD

In this post, Ian Cook discusses the trend of “cutting the cord,” which is when people ditch their landline cable service for internet streaming TV options like YouTube TV or Hulu. I think the last time I had traditional cable service was medical school. For a long time, I’ve had more than enough entertainment via the various streaming services like Netflix and Amazon Prime.

Read Ian’s post to get his take on cord cutting from the perspective of a short term rental owner.

Read the original post on the Carpe Diem MD blog: Cutting the Cord: Hulu + Live TV vs You Tube TV

The Darwinian Doctor

In this post, I discuss how to turn your primary home from a liability into an asset. Here we’re talking about the Robert Kiyosaki definition of liability, which is something that takes money out of your pocket every month. A traditional primary home generates no income, so by definition it’s a liability. The long term gains in appreciation and equity don’t apply here, though I honestly am a good example of someone who benefited from those factors quite nicely.

Here are the four ways to turn your home into an asset:

  • Start a business out of your home
  • Move and turn your primary home into a rental property
  • Rent out a portion of your home while you still live there
  • Take out equity from your home and invest it into cash flowing assets

As of this month, I’ve now used all four of the options I discussed here and have successfully turned my (former) primary home into an asset.

Take a look at the original post to read all the details: How to Transform Your Home From a Liability into an Asset

The Prudent Plastic Surgeon

To finish up our roundup, Jordan Frey gives us a 7 step plan to visualize the “big picture” in real estate investing. By that, he means his long term plan for real estate investing. I read this with interest, as everyone is different when it comes to investing. Some people are investing only for themselves, which is fine, while others are investing for to generate generational wealth.

Are you interested to see what his long term vision is?

Read the original post on the Prudent Plastic Surgeon blog: 7 Steps to Visualize the Big Picture in Real Estate Investing

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A Darwinian Disclaimer

Since everyone is different, it may not be appropriate to generalize my doctorly advice to your own situation. Please run all medical, life, and financial advice by your own physician or financial professionals before applying it to your own life! Consider all information for your entertainment only!

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