Asset Vs Liability

What investments in Nigeria do you think are assets or liabilities?

Is your house/building an asset or a liability? A lot of us cannot tell the difference between an asset and a liability in our investment choices and that is why, we make some wrong investment decisions.

I'll like us to list investments and categorize them into Assets and Liabilities with reasons.

Personally, I think a house or a building is both an asset and a liability. If you live in it, it is a liability because you'll spend money from your "pocket" on repairs and upgrades. If you don't live in it and it gives you a positive cash-flow, then it is an asset.

By positive cash-flow I mean after payment for repairs and upgrade, you still have some money left as "profit" from the rent.

Next time I'll list more assets and liabilities.

are you reading a lot of rich dad poor dad?