Over the past while, it's been interesting to hear some comments during the virtual events regarding folks' preferances re: rent - or purchase - Furnace and AC units. Both for principal, single family and multi family rentals. I'm getting at the stage that I'll be needing to make some upgrades - and would appreciate hearing your opinions - and why, you prefer one over the other.
- April 21, 2021
REASON-1: Robert Kiyosaki always recommend to buy assets (they appreciate and they put money in your pocket...like a house) and rent / lease liabilities (they depreciate and they take money out of your pocket...like a car...or a furnace...) REASON-2: It helps your cashflow when you only have to pay say $50 a month to rent a furnace versus paying say $9000 up front... REASON-3: when you rent their equipment, you can get them to service it for very little money. WARNING: Just make absolutely certain when you sell a house that has rental equipment that the lawyer closing your deal will inform the rental company...or they will be still be charging you rent a year...two years after you no longer own the house...I can't tell you how much time was wasted trying to get Reliance to stop taking money from us a year after we sold 4 of our houses in NOTL. Total nightmare!