While on deployment back in 2010 I discovered Robert Kiyosaki's "Rich Dad Poor Dad" and like many I believe, was very intrigued with the thought of using vehicles like real estate to someday reach financial freedom.

Yes it's very nice.I started to have a head ache...I wonder if they are legal residents...It's not a war zone area, probably very nice people who work hard, some of the residents do not have vehicles, but the building is only 3 blocks from a major road with public transportation.The numbers do work.But I doubt I can raise rent without upsetting the dynamics of that group.I also don't think these tenants found this place online, it's word of mouth.Something doesn't feel right.

However, you would also have G&A mileage such as driving to your PO BOX, driving for dollars, driving to houses when putting in an offer etc.The larger companies also will most likely be using the direct vehicle expense rules which allows them to directly expense or depreciate all vehicle expenses (if they are 100% company use).

I still love real estate for its other benefits (depreciation, appreciation, etc) but if you have the cash and you want income, private lending is the right vehicle to do so.

I saw some flooring on sale that I wanted, but had the wrong vehicle.

Just an update on this house.I went and looked at the house yesterday and had my agent give me real numbers $110k ARV, $950-$1100 rentShort version: I gently offered $70k, they declined and said they would hang on to it and keep trying.My evaluation:Seems like a nice neighborhood alot of older people, and decent incomes (assuming based of the vehicles in the driveways and landscaping)First thing I noticed as I pulled up was the house was an ugly color and inconveniently narrow driveway lolThe inside was actually very nice the kitchen was all new, (everything was cheap materials i.e. vinyl "tile" floor, formica countertops, nice big cabinets but no hardware) But the original hardwood throughout the rest of the house was very nice, bathroom looked new but again cheaper materials.

It seems that real estate is the best vehicle to accomplish that goal.

It is a great vehicle for real estate investors.

The downside is you may be in a high (or higher) income tax bracket in retirement, so you will be paying lots of tax on your withdrawalsIf you earn a modest salary now or have a business which carries some of your living expenses (i.e. vehicle) - or have rental properties in your own name which are not producing huge cash-flow {yet} - but expect to have larger income/assets in retirement, then a {Self Directed} TFSA may be a better fit.While I have both, at the moment I keep most of may capital in my companies and only draw a minimal salary.

Vehicles and titled trailers, toys like a 4 wheeler the lien is perfected by completing the lien section on the title and sent in to the DMV or similar state agency.It the interest is in connection with a land deal, file a notice of the other lien in the land records with the subject property, if they will do it, but it at least throws caution in a title search that may cause contractual issues, but aren't liens on the property.Don't file a note unless your recorder requires it for personal property, you may need to prove the debt was created. :).