I’m just starting to learn about a lot of the concepts in the Rich Dad books. I have the computer game version of the cashflow game and am really enjoying it.
My question is why are the downpayments on a property as well as the cost of the property put into the assets collumn?I realize that this is pretty basic but I’m just having trouble wrapping my head around it at the moment.
Thanks
Hi
You count the deposit as an asset because it’s showing how much you put into the deal yourself. The cost is obvious I would think – to show what you paid.
If you didn’t have the down payment in, you could work it out by subtracting the loan balance, but it’s simpler to be able to look at it in the one line – esp as there are various downpayments on similar priced properties.
Say for instance you were in deep trouble, and had bought 2 2/1 houses for $55K each. One down payment was $7K, and one was $2K. You need to sell, and don’t really want to sell both if you can help it. You are offered – $55K. At a glance, which would you sell?
For me, the one with the $7K down, as you know you’ll get this back.
Hope this helps – it’s my reasoning behind it anyway!
Cheers
MelGrong,
Did you get the elec vers of the game of richdad.com? I have the orig board version, but would be interested in the elec vers for one player games.
Michael Maddy
[email protected]
Canberra, AusOk. I think I’ve got it now. Thanks for your help Mel.
Yes Michael, I have the computer game version of Cashflow. It offers one against up to 4 computer players, plus a hot seat multiplayer option where you can play with multiple human players on the same computer as well as against computer players. There is also an option for internet play but this is only available if you pay a monthly fee. According to the Rich Dad website, the E-version of Cashflow 202 will be available soon.
Thanks again,
Grong
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