In the 15th installment of the complete audio book recording of Free From Corporate America, I head into the most biting section of the book on “False Assets.” “False” assets like home ownership are not hardly worthless, but they are not all what they are cracked up to be either. I launch into an explanation of why homes are not the assets we think they are, and how to approach real estate as a business.
As I recorded this one, I thought about my many friends who truly enjoy sprucing up their homes as a lifestyle. I’m not criticizing that way of life as long as it is not cloaked in easy rationalizations about improving the value of the underlying asset. And as long as there is a well thought plan for income stability beyond “I hope my job holds out even though my company is going to be acquired” or what have you.
I also think that real estate can be overrated as an entrepreneurial path – if you don’t have a passion for mastering a particular aspect of real estate, then your chances are limited to the hopes of riding a bubble. I once enjoyed real estate but time has sharpened my focus. Hear the chapter for more.