Get Rich Education

#55: Gary Carmell, author of “The Philosophical Investor: Transforming Wisdom Into Wealth”, is our guest today.

Gary discusses how you think about investing, interest rates, and monetary policy.

Want more wealth? Visit GetRichEducation.com and 1) Subscribe to our free newsletter, and 2) Receive Maverick turnkey RE webinar opportunities.

Listen to this week’s show and learn:

01:32  A frustrated GRE listener in the Netherlands gives programming feedback.

08:11  Most real estate is a bad investment. Maverick Investor Group’s 2015 report excerpts.

13:16  Interview: Gary Carmell, author of The Philosophical Investor: Transforming Wisdom Into Wealth.

16:21  An example of transforming wisdom into wealth.

17:43  Investors get discouraged at exactly the time they should be buying.

19:56  In investing, discipline and courage often trump hard work and intelligence.

21:53  “The Munger Moment.”

24:00  You never know when a market is at the high or the low.

24:59  Real estate investing is a game of attrition.

27:18  Does Gary see a better investment class than Keith’s preferred investment?

30:14  Why institutional RE investor groups buy low yield, Class A properties.

32:46  Cap rates. Recency bias. Interest rates.

34:48  Inflation vs. Deflation.

37:08  Demographics. An aging population’s effect on world economies.

39:14  QE vs. interest rate hikes.

40:19  LIBOR and variable interest rate loans for real estate.

44:24  Arbitrage creation.

Resources:

Book: The Philosophical Investor: Transforming Wisdom into Wealth by Gary Carmell.

Gary’s website: GaryCarmell.com    Company website: www.cwscapital.com

Maverick Investor Group’s report, “How To Avoid The 7 Biggest Mistakes Investors Make In The 2015 Boom Cycle” authored by Matthew Bowles.

MidSouthHomeBuyers.com or call (901) 217-4663 for Top-Notch Turnkey Rental Properties.

NoradaRealEstate.com or call (800) 611-3060. Your Premier Source for Turnkey Cash-Flow Investment Property.

GetRichEducation.com - that’s where to subscribe to our free newsletter, receive turnkey real estate webinar opportunities, and see all Events.

Download the GRE Android App at Google Play to keep the GRE icon right on your phone’s home screen!

We would be so grateful if you wrote a review! Here’s how to write one at: iTunes, Stitcher, and Android.

To get a free GRE logo decal for your review, send: 1) A screenshot of your review. 2) Your mailing address to: Info@GetRichEducation.com

Direct download: GREepisode55.mp3
Category:general -- posted at: 4:00am EDT

#54: Today you are going to learn more about credit scores than you ever have. We’re joined by 720 Credit Score’s Philip Tirone.

Want more wealth? Visit GetRichEducation.com and 1) Subscribe to our free newsletter, and 2) Receive turnkey RE webinar opportunities.

Listen to this week’s show and learn:

01:33  A high credit score reduces your cost of capital, and maximizes your ROI.

08:28  You can have bad credit even if you pay your bills on time.

09:04  Credit scores matter for: property loans, car loans, insurance, employment, credit cards, more. 61% of employers run your credit report before hiring you.

10:21  Why credit scoring is a monumental scam. Yes, a scam.

11:45  You can have a clean credit report, yet poor credit score.

13:45  Many credit repair companies use illegal tactics.

15:03  46% of credit cards in your wallet do not report proper information to the credit bureaus.

18:28  You need 3 to 5 credit cards.

20:20  Get credit cards that: 1) Report to all three bureaus. 2) Report the proper credit limit.

21:03  Credit card utilization ratios. American Express often behaves differently.

23:30  FICO credit scores are the ones that matter.

26:07  U.S. vs. Canadian credit scoring Other developed western countries like Great Britain and Australia are similar.

27:10  The well-known pie chart at www.MyFico.com.

28:10  Installment loans’ importance.

29:02  Credit utilization ratio “breaks” at 100%, 90%, 70%, 50%, 30%, 10%, and 0%.

31:57  Credit inquiries and how much they matter; controlling credit report errors.

33:50  If your credit score is already above 720, you could still be brought down by one error.

34:55  Collections.

36:42  Get free credit reports (not scores) annually here: AnnualCreditReport.com

40:00  Why banks lack motivation to help you improve your credit score.

Resources:

720CreditScore.com - Philip Tirone’s company that helps clients rebuild their credit.

MyFico.com

AnnualCreditReport.com

MidSouthHomeBuyers.com or call (901) 217-4663 for Top-Notch Turnkey Rental Properties.

NoradaRealEstate.com or call (800) 611-3060. Your Premier Source for Turnkey Cash-Flow Investment Property.

GetRichEducation.com - that’s where to subscribe to our free newsletter, receive turnkey real estate webinar opportunities, and see all Events.

Download the GRE Android App at Google Play to keep the GRE icon right on your phone’s home screen!

We would be so grateful if you wrote a review! Here’s how to write one at: iTunes, Stitcher, and Android.

To get a free GRE logo decal for your review, send: 1) A screenshot of your review. 2) Your mailing address to: Info@GetRichEducation.com

Direct download: GREepisode54.mp3
Category:general -- posted at: 4:00am EDT

#53: Your income and cash flow tell you about yourself and your allocation.

What proportions are active, earned, and passive income? Where are you vulnerable?

Want more wealth? Visit GetRichEducation.com and 1) Subscribe to our free newsletter, and 2) Receive Maverick turnkey RE webinar opportunities.

Listen to this week’s show and learn:

02:45  Most people’s #1 cash flow source is their work-a-day job. But they’re trading their time for dollars.

04:02  Here’s how to best determine your cash flow. Cash flow is simply income minus expenses.

05:54  Current U.S. median household income, Top 10%, and Top 1%.

10:02  You need cash to function in an economy, not equity.

11:32  How you can have a negative net worth, yet be financially free.

15:25  Trace your personal cash flow to different industry sectors.

22:04  “Budget” is almost a swear word.

25:07  Turning equity into cash flow.

28:14  “Retirement calculators” don’t work for real estate investors.

32:12  The Outsourcing Myth.

Resources:

MidSouthHomeBuyers.com or call (901) 217-4663 for Top-Notch Turnkey Rental Properties.

NoradaRealEstate.com or call (800) 611-3060. Your Premier Source for Turnkey Cash-Flow Investment Property.

GetRichEducation.com - that’s where to subscribe to our free newsletter, receive turnkey real estate webinar opportunities, and see all Events.

Download the GRE Android App at Google Play to keep the GRE icon right on your phone’s home screen!

We would be so grateful if you wrote a review! Here’s how to write one at: iTunes, Stitcher, and Android.

To get a free GRE logo decal for your review, send: 1) A screenshot of your review. 2) Your mailing address to: Info@GetRichEducation.com

Direct download: GREepisode53_1.mp3
Category:general -- posted at: 4:00am EDT

#52: Financially, how much are you worth? Here’s how to determine your net worth and what it means to you.

Want more wealth? Visit GetRichEducation.com and 1) Subscribe to our free newsletter, and 2) Receive Maverick turnkey RE webinar opportunities.

Listen to this week’s show and learn:

02:43  Here on GRE’s 1 Year Anniversary show, what’s in the name, “Get Rich Education?”

05:30  Your Financial Net Worth is what you own minus what you owe. 

11:32  Your Net Worth compared to other Americans.

17:00  GRE’s John Collins appearance.

20:55  Your liquidity.

23:06  The interest rate you’re paying on your debt. Credit card arbitrage.

25:56  Your Net Worth worksheet helps make leverage’s power transparent.

28:15  Real estate investing is a game of attrition.

30:56  Generations ago, there was a wealth gap between families. Today, it’s within families.

Resources:

Mint.com

MidSouthHomeBuyers.com or call (901) 217-4663 for Top-Notch Turnkey Rental Properties.

NoradaRealEstate.com or call (800) 611-3060. Your Premier Source for Turnkey Cash-Flow Investment Property.

Visit GetRichEducation.com to subscribe to our free newsletter, receive turnkey real estate webinar opportunities, and see all Events.

Download the GRE Android App at Google Play to keep the GRE icon right on your phone’s home screen!

We would be so grateful if you wrote a review! Here’s how to write one at: iTunes, Stitcher, and Android.

To get a free GRE logo decal for your review, send: 1) A screenshot of your review. 2) Your mailing address to: Info@GetRichEducation.com

Direct download: GREepisode52_1.mp3
Category:general -- posted at: 4:00am EDT

#51: What if the real estate market crashes? Our guest, Hassle Free Cashflow Investing’s David Campbell, tells us how to hedge yourself against this with Mortgage Note Investing.

Learn why this could be the ideal time in the real estate market cycle for Mortgage Note Investing. This can provide stable returns to you, yet more liquidity than owning real estate.

Want more wealth? Visit GetRichEducation.com and 1) Subscribe to our free newsletter, and 2) Maverick turnkey RE webinar opportunities.

Listen to this week’s show and learn:

02:36  You can be the bank. Rather than be the real estate investor, you can be the real estate lender.

05:08  Our guest, HassleFreeCashflowInvesting.com‘s David Campbell invests based on the real estate market cycle.

08:58  Terms similar to Mortgage Note Investing are: Hard Money Lending, Private Lending, Deed Of Trust Investing, Seller Financing.

12:36  What’s the minimum amount of money you need for Mortgage Note Investing?

13:20  How you get money for this investment. Arbitrage.

17:10  How Mortgage Note Investing’s advantage over Peer-To-Peer Lending instruments like Lending Tree and Prosper. In a word, the answer is “collateral.” 

19:25  Why this is a good time in the market cycle to be a Mortgage Note Investor.

24:35  Many people are equity rich and cash poor.

27:48  Mortgage Note Investing with IRA funds and how this is tax-savvy.

30:00  How to buy a good Mortgage Note and what to avoid.

31:26  How David’s company, Hassle-Free Cashflow Investing, makes Note investing easy for you.

32:30  Mortgage Notes are more liquid than real estate.

36:05  When David began investing, it included tons of hassle. He changed course.

Resources:

Visit HassleFreeCashflowInvesting.com for a free report and videos on Mortgage Note Investing and more.

MidSouthHomeBuyers.com or call (901) 217-4663 for top-notch turnkey rental properties.

Visit GetRichEducation.com to subscribe to our free newsletter, receive turnkey real estate webinar opportunities, and see all Events.

Download the GRE Android App at Google Play to keep the GRE icon right on your phone’s home screen!

We would be so grateful if you wrote a review! Here’s how to write one at: iTunes, Stitcher, and Android.

To get a free GRE logo decal for your review, send: 1) A screenshot of your review. 2) Your mailing address to: Info@GetRichEducation.com

Direct download: GREepisode51.mp3
Category:general -- posted at: 4:00am EDT

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