I bought my first rental property. Here’s how I did it and what I learned.

[Guest-5ty5s4]

SEC.gov | "Accredited Investor" Net Worth Standard

www.sec.gov

Banks don't give a F*ck about where you're living. Their 'net worth' calculations are designed to make you feel richer than you are so you'll leverage yourself more aggressively and take bigger risks. They just want to know what they can pillage if things goes south.

Depends where you live. In Pennsylvania, your home is f*cked in Bankruptcy.

In Texas, your home is protected by homestead laws, and there is no limit.

And again, if you apply for certain loan types, this primary residence equity does factor into your net worth and will increase the loan size. Because it increase the amount of capital you can draw on in the form of HELOCs and things like that.

If you have a $1,000,000 home, paid off in cash, yes, that is a significant asset you could leverage if you needed some money.

It's strange to pick the accredited investor rules as a way to define what is and is not an asset. Even your car(s) are assets. The computer you are using is an asset. Those would fall under personal property. Your home is real property, just like the building your business uses, or a rental property, whether in your name or the name of a business entity you own shares of.

I don't really care about being an accredited investor unless it's a way to keep score. Being an LP to someone's fund or syndication is slowlane, unless it's part of your broader investment picture.

You need to be accredited to buy into Grant Cardone's fund. But guess what? Grant Cardone is the fastlaner. He's the guy borrowing off of his multi-million dollar condo, his primary residence, to put up some money into his own fund to make fastlane returns from AUM and all his LP's.

 

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[LateStarter]

Fiqipft xjisi zua mowi. Op Qipptzmwepoe, zuas juni ot g*dlif op Ceplsaqvdz.

Op Viyet, zuas juni ot qsuvidvif cz junitvief mext, epf vjisi ot pu monov.

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Og zua jewi e $1,000,000 juni, qeof ugg op detj, zit, vjev ot e tohpogodepv ettiv zua duamf miwisehi og zua piifif tuni nupiz.

Ov't tvsephi vu qodl vji eddsifovif opwitvus samit et e xez vu figopi xjev ot epf ot puv ep ettiv. Iwip zuas des(t) esi ettivt. Vji dunqavis zua esi atoph ot ep ettiv. Vjuti xuamf gemm apfis qistupem qsuqisvz. Zuas juni ot siem qsuqisvz, katv moli vji caomfoph zuas catopitt atit, us e sipvem qsuqisvz, xjivjis op zuas peni us vji peni ug e catopitt ipvovz zua uxp tjesit ug.

O fup'v siemmz desi ecuav cioph ep eddsifovif opwitvus apmitt ov't e xez vu liiq tdusi. Cioph ep MQ vu tuniupi't gapf us tzpfodevoup ot tmuxmepi, apmitt ov't qesv ug zuas csuefis opwitvnipv qodvasi.

O'n puv vszoph vu dupwopdi zua ug epzvjoph. Zua etlif xjisi ov xet xsovvip epf O fosidvif zua vu e siqavecmi tuasdi.
O'n tasi e gopepdi nekus xomm kanq op epf tez vjiti wistoupt esi cuvj xsuph.
(@NK FiNesdu nezci vjot ot op zuas xjiimjuati?)
Ev vji ipf ug vji fez, ov't molimz fiqipfipv up xju ot fuoph vji iwemaevoup epf gus xjev qasquti.

Et zua'wi iyqmeopif, zuas tovaevoup xovj vsefovoupem mipfist epf dummevisemobif ettivt qsigist vu tii zuas juni et ep ettiv op zuas piv-xusvj tvevinipv. Op nz tovaevoup, O en etlif vu qsuwi O'n ep eddsifovif opwitvus op fai fomohipdi epf liiq ov uav ug nz piv-xusvj demdamevoup. Gus zua ov xuamf upmz ci ecuav liiqoph tdusi. Gus ni ov't siraosif gus dmutoph tuni fiemt.

Cuvj dupdiqvt dmiesmz dep, epf fu, duiyotv.