You are holding a negotiated and signed contract in your left hand and a pile of cash in your right hand.
Which one do you think is more valuable? Both are simply pieces of paper, right?
Listen to learn how contracts are just as valuable as cash.
Hi, Jay Massey with the Cash Flow Diary with another tip about real estate and business.
Today we’re going to talk a little bit about money.
Today we’re going to talk a little bit about money. Let me ask you a question. What is this and what is this? What is it really? Aren’t they just pieces of paper? Why do they have any value? Why do we actually kill ourselves trying to get either this or this, depending on where you live, right?
Some of you want some of this, and some of you want more of this. Either way it goes, the question is what is really money? One of the things that I’ve learned is that money is not money. What we call money today actually isn’t money, it’s currency.
There’s a small difference. Here’s that small difference. This is not a store of any value whatsoever. For most of us it’s what’s called a fiat currency. What does that simply mean? It means only it has value because you and I agree, because we’re typically forced to take it to pay our taxes. Our government says that we must do.
What is this really? It’s a piece of paper that’s colored. This piece of paper is also colored. Why is this piece of paper worth more, at least, currently, than this piece of paper? For no other reason than because we say so.
Here’s why this is important. When you’re looking to develop that stream of cash flow, one of the great things about real estate and business is that you and I can create pieces of paper that become valuable.
We can take a sheet of paper right now; we’d just call it a contract. When both parties agree, suddenly that contract has perceived value. That value then can be sold into the marketplace for you and I to create cash or cash flow.
One of the unique things understands the concept of value.
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