That's the reason why a lot of people end up bankrupt. If the market value is lower than the amount owing to bank, and in most of the case it does, when the market crisis the owner will have to pay the shortfall. When the property is foreclosed in Singapore, the bank will immediate sell the property according to the market value. However, in most of the Asian countries, especially Singapore, it's not end when the property is foreclosed. In US, upon the time when a property is foreclosed, the owner would not have to pay the short fall if the property's market value is not worth the amount owing to the bank. They end up have to declare bankrupt, carry with millions of debts. They then can't afford to pay up the mortgage payment and the properties was foreclosed by the back. The market value of most of their properties sunk below the loan they had with the bank. Before 1998, there are a lot of millionaires who find their properties, assets We have to recall the last economic crisis back in 1998. Someone ever asked me: "Why do you want to pay off ALL LIABILITIES before getting out of rat race in Cashflow101? The original Cashflow101 rules doesn't required that!" Visit Rich Dad Asia to find out the Secrets of the Rich. You can choose to keep the club informal, or set up a more formal structure with a committee and paid membership. Usually a sufficient number of members will have their own Cashflow® games so there'll be enough per meeting to accommodate the attending players. Players can contribute a small sum to cover the costs of the venue and tea or coffee.
#Rich dad cashflow 101 free#
As the club grows, find a suitable regular venue and continue placing your free monthly ads in the paper. But eventually you'll want to buy your own game. If all the interested parties agree, you can purchase your first Cashflow® 101 game jointly. You need 4-6 players per game, so you can start with a very small group. You can offer your house as a first-time venue, or book a meeting room at your local library. Community announcements are usually free. If there isn't a Cashflow® 101 club in your area, it's a fairly simple process to start one. If you're in Asia, you may do it through Rich Dad Asia. So I extracted from one of the source which I think is well-written:įind a Cashflow 101 club around your area, you can do it through Rich Dad's Community.
#Rich dad cashflow 101 how to#
Many people asked me to talk about how to start a Cashflow 101 Game, eventhough it can be found throughout the Internet.
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