Fri, 30 December 2016
#116: Rich Dad Advisor Tom Wheelwright says that the U.S. could become a tax haven. We discuss other potential tax changes that President-Elect Donald Trump will make. Keith also recaps what happened in financial markets this year: real estate, stocks, gold, inflation, dollar index, interest rates and more. Want more wealth? Visit GetRichEducation.com and 1) Subscribe to our free newsletter, and 2) Find turnkey real estate investing opportunities. Listen to this week’s show and learn: 01:42 This year: real estate up, stocks up, gold & silver up, dollar index even, interest rates up, inflation up, autonomous cars hit streets, Chinese yuan into IMF, Brexit, Trump election. 06:36 Robert Kiyosaki and Harry Dent predictions. 09:48 Donald Trump parallels with Ronald Reagan. No individual income tax reform in first term. 12:53 Tax rates won’t go up next year. Oil & gas tax benefits will be retained or expanded. 14:11 Carried interest. 17:59 Trump’s company lobbied for the “real estate professional” tax designation. 21:28 Limit on itemized deductions coming? 23:32 Expect U.S. corporate taxes to be lowered down from 35%. 28:25 Trump wants a 15% “business tax rate.” Amnesty. 30:03 Why is the U.S. successful with such high corporate tax rates? 31:10 Tom Wheelwright: The U.S. could become a tax haven! 32:37 How will we pay for tax reduction? Not growth, but even more debt. 34:08 Financial crash implications. 36:52 Here’s how you can act now. 40:37 Keith: Let’s lower tax rates, and increase the number of taxpayers.
Resources Mentioned: TaxFreeWealthAdvisor.com or 866-467-5809
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Fri, 23 December 2016
#115: Obtaining your RE license isn’t that difficult in many states. Would this help you land deals for income property? Yes, and there are tons of other benefits...and drawbacks. Kevin Cross of Foundations Real Estate Experts is a savvy real estate investor, licensee, and former President of the Anchorage Association of Realtors. He tells us the advantages and disadvantages of getting your RE license. Want more wealth? Visit GetRichEducation.com and 1) Subscribe to our free newsletter, and 2) Find turnkey real estate investing opportunities. Listen to this week’s show and learn: 02:06 Keith likes BombBomb.com video-e-mail service and the Blinkist.com condensed reading app. 08:11 How can getting your RE license help you get into the deal flow? 12:20 Saving yourself the agent commission - and using that as a down payment. 15:06 The benefits you realize as an agent when you build a network of home inspectors, HVAC companies, roofers, etc. 18:27 When you sell property, act as your own agent. Referral fees. 24:59 Licensing requirements - educational hours, exam, licensing fees. Often $3,000 - $5,000 out-of-pocket to start. 26:55 Difficult to be a “part-time” agent. 28:48 You don’t get paid for 90 days. 31:16 Fiduciary responsibility and disclosure. 36:42 90% of sales are made by 10% of agents. 37:11 Do you split your commission with your broker? Must you have an office there? 41:06 After marketing fees and dues, agents earn about 1.5% per transaction.
Resources Mentioned: |
Fri, 16 December 2016
#114: Your mental map is stimulated today as we discuss what geographies will be prosperous for real estate investors. Geopolitical Strategist Peter Zeihan of Zeihan.com takes us on a virtual cross-country journey economically, geographically, and demographically. Want more wealth? Visit GetRichEducation.com and 1) Subscribe to our free newsletter, and 2) Find turnkey real estate investing opportunities. Listen to this week’s show and learn: 03:46 The Mississippi River System promotes continental commerce. Luckily, it’s superimposed atop the U.S. agricultural belt. 06:47 Demographic luck. 13:54 Capital flight to “Gateway Cities”: Toronto, Montreal, Vancouver, Santa Monica, San Francisco, Seattle, New York City, and Miami. 17:38 “Reinvented Cities”: Oklahoma City, Austin, Salt Lake City, Charleston (SC). 20:05 Migration to low-cost-of-living cities. 25:27 New England. 26:58 New York. 28:42 Pennsylvania. 31:44 New Jersey through DC to the Carolinas. 34:22 Georgia. 36:21 Florida. 38:12 Alabama. 40:53 Tennessee. 43:12 Great Lakes Region. 44:11 Missouri. 45:16 Arkansas & Louisiana. 46:58 Texas. 50:01 Upper Great Plains. 51:07 Denver and Salt Lake City. 53:16 Arizona and Nevada. 56:53 California. 59:33 Washington and Oregon. 62:47 Alaska and Hawaii.
Resources Mentioned: |
Fri, 9 December 2016
#113: You can be a lender instead of a borrower with Mortgage Note Investing. Real estate is your collateral, securing your loan. Why would you want to give a loan to someone that can’t qualify for a bank loan? David Campbell from Hassle-Free Cash Flow Investing tells us why and how. 9-10% cash-flowing rates of return are common. Compared to buy-and-hold RE investing, this is more liquid, less risky, and incurs lower transaction costs. Want more wealth? Visit GetRichEducation.com and 1) Subscribe to our free newsletter, and 2) Find turnkey real estate investing opportunities. Listen to this week’s show and learn: 07:05 Why now is a good time to move chips from the equity side to the debt side. 10:48 Mortgage Note Investing is also similar to terms like “Hard Money Lending,” or “Private Lending.” Also, discussion of Mortgage vs. Deed Of Trust. 15:45 Buy notes where the borrower has 20-25%+ equity in the property. 23:02 Mortgage Notes provide higher cash flows, less risk, more liquidity, lower transaction costs compared to owning real property. 26:47 Example on a $75,000 mortgage. 34:50 Use your IRA or HELOC to create arbitrage. 36:38 Knowing good from bad, and avoiding fraud. 43:14 Turn your equity into cash flow.
Resources Mentioned: |
Fri, 2 December 2016
#112: Two undercover thieves are robbing you of your dreams. They’re stealing your prosperity both now and in the future. This is why people think they’re “getting ahead,” but they’re falling behind. Learn about the problems with 401(k)s and inflation - it’s even worse than you think. Learn how to get on top of this and get empowered today. Keith brings you today's show from Dallas, TX. Want more wealth? Visit GetRichEducation.com and 1) Subscribe to our free newsletter, and 2) Find turnkey real estate investing opportunities. Listen to this week’s show and learn: 02:33 Be unusual. 03:33 A terribly naive statement: “Socking away money in your 401(k) will make you a millionaire.” 07:08 401(k) saving is misdirected. It’s herd mentality pumped up by a billionaire-dollar Wall Street marketing campaigns. 09:40 History of the 401(k) and Ted Benna, creator of the Plan. “Salary Reduction Plans.” 13:35 Dollar-for-dollar matches in 401(k)s. 17:12 A 401(k) is a ZERO cash flow plan. 24:24 The secret monthly bill that you don’t know that you’re paying. 26:57 Real ROI vs. Nominal ROI: How “winning” is really losing. 28:38 Taxation is not adjusted for inflation. 30:40 The first step to solving your problem is recognizing that there is one. 32:04 Your real estate cash flow increases faster than inflation over time. See at: GetRichEducation.com/videos Resources Mentioned: |
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