Ep47: Good Debt vs Bad Debt - Marco Kozlowski
Big Fat Real Estate Checks
Marco Kozlowski
5 • 957 Ratings
🗓️ 28 December 2020
⏱️ 23 minutes
🧾️ Download transcript
Summary
There's a lot of factors you need to consider in determining whether a debt is good or bad. A simple rule is any debt that you use to generate more income is a good debt and if it doesn't do that, then it's a bad debt. Additionally, a good debt can also take form as an investment to an existing business that would pay you more money in the future.
So, is there really such a thing as good debt? Listen in if you need more help in determining whether the debt you're about to take on is good or bad!
WHAT YOU'LL LEARN FROM THIS EPISODE
- Credit card debt- is it a good or bad debt?
- Any debt that doesn't make you money is bad debt
- The Concept of Asset and Liability
- Good debt is used to generate more income
- Bad debt will require more expenses
- How to use credit card as a profit generating center?
- How to make money from borrowed money?
- How to make your house generate income
- Get educated to know what to buy and the cashflow and to protect yourself with the right asset protection
- Is mortgage good for you?
- How to use a mortgage properly?
- Money in the bank is a bad asset
- It's the asset that you can acquire with the money is what important
RESOURCES FROM THIS EPISODE
Click here for the free quick start course "Get Deals By Tuesday" Masterclass.
CONNECT WITH US
- Email: [email protected]
- Website: https://marcokozlowski.com
- Facebook: https://www.facebook.com/realmarcokozlowski/
- Instagram: https://www.instagram.com/marco.kozlowski/
Transcript
Click on a timestamp to play from that location
| 0:00.0 | So money, cash to asset, back to cash, back to cash, back to asset back to cash, is the secret to wealth. |
| 0:05.8 | And it's making it grow every time there's a conversion. |
| 0:10.4 | Welcome to the big fat real estate checks podcast with Marco Kuzlowski |
| 0:15.8 | where we help investors like you get the knowledge and skills you need to |
| 0:19.4 | replace your J-O-B with passive cash flow for life. |
| 0:25.0 | Hey Marco here, I really wanted to share with you our earlier |
| 0:28.5 | podcast that we created. |
| 0:30.5 | Now our mics were not the best, but the content was really strong and I know you will learn a lot. |
| 0:37.0 | We had an absolute blast recording this and I know you're absolutely going to love it as much as we loved recording it. |
| 0:44.0 | This extremely content-rich information will not only give you the edge in your |
| 0:49.8 | real estate investing business but in everyday life. Enjoy. |
| 0:55.0 | Welcome back to yet another episode where we're going to discuss good debt versus bad debt. |
| 0:59.0 | Things that you should be thinking about. |
| 1:02.0 | Some debt is good, some debt not so good. |
| 1:05.6 | And I know there are many schools of thought where all dead is bad and there are other schools of |
| 1:11.0 | thought that are all dead is good. I think there's a balance |
| 1:14.2 | between both. I think some debt is extremely good and some debt is actually terrible. |
| 1:20.0 | So let's get into that and the nuances between good debt and bad debt and take it from there. |
| 1:25.0 | So, Gabe, you want to start on this one? |
| 1:27.0 | Sure. |
| 1:28.0 | I mean, debt in general is a topic that you kind of learn from the household and how you're the people |
| 1:35.0 | around you have been dealing with that so a lot of this stuff over here today may be |
... |
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