Get Rich Education

#142: Keith’s $530,000 four-plex dropped in value to $480,000 during the 2007-09 Mortgage Meltdown.

Lessons from the Housing Crisis of 2007-2009 still influence Keith’s investing today. Our guest, Damion Lupo, lost worse than Keith at this time. His $20M portfolio imploded.

Damion spent over a million dollars on seminars alone. He recklessly went all-out by purchasing 150 rental units across 7 states more than a decade ago - without regard for cash flow. It crashed.

Today, his firm, Total Control Financial, helps you control your financial future with self-directed IRA and Solo 401K services for optimized retirement planning.

Top takeaway: Buy for cash flow in stable economic metro markets.

Grab Get Rich Education’s new book at GetRichEducation.com/Book

Want more wealth? Visit: 1) www.GetRichEducation.com to grab our free newsletter.  2) www.GREturnkey.com for actionable turnkey real estate investing opportunities.

Listen to this week’s show and learn:

00:57  Keith’s $530,000 four-plex dropped in value to $480,000 in the 2007-09 Mortgage Meltdown.

15:37  If Damion could do it all over again, what would he do differently?

20:04  Harvesting equity.

24:29  Damion won’t do deals with people in their 20s.

26:30  The next crash.

34:14  Hard money loans.

42:25  Retirement.

49:26  Choose stable markets in the Midwest and South.

Resources Mentioned:

TotalControlFinancial.com

Investopedia.com

NoradaRealEstate.com

HighlandsMortgage.com

MidSouthHomeBuyers.com

GetRichEducation.com

GREturnkey.com

 

 

Direct download: GREepisode142_1.mp3
Category:general -- posted at: 4:00am EDT

#141: Real estate hedonics and inflation effectively mean that real estate goes down in price over time. So then how can it be such a great investment? Keith answers.

We run the numbers on a Memphis duplex. Keith calculates a 32.4% ROI right before your eyes.

Keith tells you how to make more income if you’re living paycheck-to-paycheck.

Learn about the opportunity cost of renting out a $620,000 south Florida home for $2,900.

Grab Get Rich Education’s new book at GetRichEducation.com/Book

Want more wealth? Visit: 1) www.GetRichEducation.com to grab our free newsletter.  2) www.GREturnkey.com for actionable turnkey real estate investing opportunities.

Listen to this week’s show and learn:

01:37  Giving.

04:57  Real estate hedonics.

09:46  Calculating Total Rate Of Return from real estate.

17:57  Most real estate investors can’t “keep score”.

19:34  Living paycheck-to-paycheck. How to get started?

24:34  People want change, but don’t want to change.

32:25  Renting out a $620,000 south Florida home.

Resources Mentioned:

NoradaRealEstate.com

HighlandsMortgage.com

MidSouthHomeBuyers.com

GetRichEducation.com

GREturnkey.com

Clickbank.com | Kajabi.com

 

Direct download: GREepisode141.mp3
Category:general -- posted at: 4:00am EDT

#140: Keith’s new book is now out in paperback form at: www.GetRichEducation.com/Book.

Direct investment in single family income properties has strong demand from both investors and renters.

Single-family home (SFH) income property advantages include: they trade independent of market cap rates, stronger appreciation than apartments, inflation protection, amortization, tax depreciation, lower cost, easier financing, more understandable, no shared walls, divisibility, less tenant turnover, and better locations than apartments.   

Today’s guest, HassleFreeCashFlowInvesting.com’s David Campbell helps Keith break down single-family investing advantages.

Grab Get Rich Education’s new book at GetRichEducation.com/Book

Want more wealth? Visit: 1) www.GetRichEducation.com to grab our free newsletter.  2) www.GREturnkey.com for actionable turnkey real estate investing opportunities.

Listen to this week’s show and learn:

01:15  Ken McElroy in 2017: “It’s a terrible time to buy multifamily in most metros.”

06:23  SFHs trade independent of cap rates.

09:57  Appreciation vs. Inflation.

11:03  SFHs are approachable because they’re lower cost and financing can be easier.

14:52  No shared walls: pests, fires, noise.

15:48  Arbitrage.

18:00  Keep a low equity position for asset protection.

20:17  Divisibility.

20:53  The fallacy of “buying cash flow”.

25:08  Prepaying the mortgage is a huge mistake.

27:55  SFH: no or low utility payments.

29:00  Neighborhood quality.

32:00  Cash flow.

33:51  Income tax-free states.

34:57  Tenant psychology in SFHs. It “feels like their own”. Exit strategy.

36:50  GREturnkey.com has many of the best income property SFHs.

38:25  Ask: “Mr. Manager, what would like to manage?”

40:40  SFHs have less tenant turnover than apartments.

43:10  SFHs is where you typically start.

45:46  “Leaving a trail behind” with 3.5% down payment FHA loans.

48:30  David’s free e-book at HassleFreeCashFlowInvesting.com.

Resources Mentioned:

HassleFreeCashFlowInvesting.com

GetRichEducation.com/Book

NoradaRealEstate.com

HighlandsMortgage.com

MidSouthHomeBuyers.com

GetRichEducation.com

GREturnkey.com

 

Direct download: GREepisode140_1.mp3
Category:general -- posted at: 4:00am EDT

#139: Grab Get Rich Education's new book at: GetRichEducation.com/Book.

You need money in order to trade it for time. You can’t trade anything other than money for time.

The housing inventory shortage will reach a peak before new construction can relieve the problem.

Paying rent is not like “throwing money away every month.” Keith breaks down the trade-offs between renting vs. owning your primary residence.

Want more wealth? Visit: 1) www.GetRichEducation.com to grab our free newsletter.  2) www.GREturnkey.com for actionable turnkey real estate investing opportunities.

Listen to this week’s show and learn:

01:34  Apartment buildings between 2 and 9 units are no longer being built as often.

06:06  The overall shortage of housing inventory for sale.

07:23  Feeling imprisoned in your own home due to low inventory, rising interest rates.

12:39  Housing builder confidence is up. More new construction.

14:00  There is currently income property inventory in Jacksonville, FL: GetRichEducation.com/jax

17:39  Why do you think you need to own a home?

18:57  Paying rent is “not throwing money away”. Here’s why.

20:04  16 tradeoffs between Renting vs. Buying your own home.

28:06  Time vs. Money.

Resources Mentioned:

GetRichEducation.com/Book

NoradaRealEstate.com

HighlandsMortgage.com

MidSouthHomeBuyers.com

GetRichEducation.com

GREturnkey.com

 

Direct download: GREepisode139.mp3
Category:general -- posted at: 4:00am EDT

Yes! Our first-ever book has been released today at GetRichEducation.com/Book.

Brief and to-the-point, with no guest writers or ghost writers, Keith dispels seven of the most common money myths that limit your financial growth potential including: “Be debt-free” (a myth), and “Get your money to work for you” (another myth, believe it or not).

“7 Money Myths That Are Killing Your Wealth Potential” has already hit Amazon #1 bestseller status in multiple categories.

Grab it now before the price goes up after Friday at: GetRichEducation.com/Book

Direct download: GRE_Book_Episode.mp3
Category:general -- posted at: 7:26am EDT

#138: You’ve run out of money to buy real estate. What do you do now? You pool other people’s money for the down payment through a process called real estate syndication. Learn how.

Urban real estate investing involves: exploiting geographic class segregation, “moving the gentrification line”, rent control, and public transit proximity.

Today’s guest, Victor Menasce, is an Ottawa, Canada-based real estate syndicator. He’s an expert at teaching you how to raise capital from others for real estate deals in his book, Magnetic Capital.

Want more wealth? Visit: 1) www.GetRichEducation.com to grab our free newsletter.  2) www.GREturnkey.com for actionable turnkey real estate investing opportunities.

Listen to this week’s show and learn: 

00:48  How can “real estate syndication” make you wealthy?

03:59  Investing in the U.S. vs. Canada: the biggest difference.

05:28  Urban investing: “Buy on the line. Move the line.”

07:48  Infill development.

09:22  New construction and low inventory.

10:18  Example on a buy-and-hold million dollar building.

13:07  Urban areas: higher appreciation risk and reward?

17:31  Leading indicators of up-and-coming areas.

19:58  Rent control discussion.

24:33  Raising capital from others.

29:26  Establishing trust, track record, compelling opportunity, alignment.

34:53  “Borrow” someone else’s track record.

40:19  Give yourself a promotion.

Resources Mentioned:

VictorJM.com

NoradaRealEstate.com

HighlandsMortgage.com

MidSouthHomeBuyers.com

GetRichEducation.com

GREturnkey.com

 

 

 

Direct download: GREepisode138.mp3
Category:general -- posted at: 4:00am EDT

#137: GRE listener Eric Pratt is today’s guest. His passive monthly RE income is $3,600, soon to be $4,600.

He bought turnkey income properties: 6 in Memphis, 1 in Atlanta, and soon expects to close 1 in Birmingham. He carries 7 mortgages.

Eric is in his 40s, married, and is a police officer in Anchorage, Alaska. Learn about how GRE has changed his life, and learn about one speed bump that he hit on the way.

This show has been on the air every week for more than 2 ½ years and it’s changing lives. It’s time to hear your story. Keith tells you how you can be on the show with him.

Keith brings you today’s show from Anchorage, Alaska.

Want more wealth? Visit: 1) www.GetRichEducation.com to grab our free newsletter.  2) www.GREturnkey.com for actionable turnkey real estate investing opportunities.

Listen to this week’s show and learn:

04:23  Today’s guest, Eric, had never heard of a podcast before learning about GRE.

06:04  Growing up in a financial family: Dad - banker; Stepmom - accountant.

09:34  Eric’s first investment property was bought in Las Vegas in 2001.

14:20  Eric used to invest out-of-state without knowing about turnkey RE investing. He previously tried to put the “team ingredients” together himself.

15:25  His first turnkey investment property was bought in Memphis in 2015 through Mid South Home Buyers.

16:45  Some think turnkey real estate investing is too good to be true.

19:01  Guest’s former mission to be debt-free changed to becoming financially-free.

24:40  Paid 6 ways at the same time?

26:26  Eric self-manages one property. Lesson learned: buy from a provider with in-house management rather than third-party management.

29:17  Paying $61,000 cash to own a Memphis property free-and-clear.

31:12  Carrying 7 mortgages.

32:06  Offering full asking price on turnkey properties?

33:21  Eric’s passive monthly RE income is $3,600, expects it will soon be $4,600.

38:23  He has an employer pension.

39:27  The Abundant Mindset.

41:32  Birmingham, Alabama’s surprising revitalization.

43:50  Eric leaves his personal e-mail address for you: pratts@ak.net

Resources Mentioned:

MidSouthHomeBuyers.com

Birmingham Turnkey Property

NoradaRealEstate.com

HighlandsMortgage.com

GetRichEducation.com

GREturnkey.com

Guest E-mail: pratts@ak.net

Direct download: GREepisode137_1.mp3
Category:general -- posted at: 4:00am EDT

#136: Get a pay raise from your employer with this innovative approach.

Also, increase your rental income with this technique. Learn how to raise the rent on your tenant without losing them. It starts with you thinking about how your tenant is thinking. Use this “3 Options Strategy”.

Think about your “Salary Reduction Plan” vs. your “Salary Increase Plan”. Don’t ask your boss for a raise. You’ll learn how to give yourself one.

Keith also has a fresh take on property management.  

Keith brings you today’s show from Philadelphia, Pennsylvania.

Want more wealth? Visit: 1) www.GetRichEducation.com to grab our free newsletter.  2) www.GREturnkey.com for actionable turnkey real estate investing opportunities.

Listen to this week’s show and learn:

01:32  Raise the rent on your tenants in this innovative way.

03:59  Lease Renewal Options Form - give your tenant three rent amount and duration options.

05:34  Justification for increasing your rent: higher property tax, hazard insurance, utility costs, etc.

08:39  Why a subtle 3-5% rent increase helps you more than you think.

10:23  How to get a pay raise from your employer.

13:14  Negative cash-flowing property: perspective.

17:56  Don’t even ask your boss for a raise.

23:55  Property Managers - you want one, but yet you don’t. Discussion.

26:45  Subway restaurant analogy.

30:54  How many income properties could you own if you self-managed?

32:36  Find the right income properties through: www.GREturnkey.com

Resources Mentioned:

Keith's Whiteboard Video: Cash Flow vs. Inflation

NoradaRealEstate.com

TheRealAssetInvestor.com/GRE

HighlandsMortgage.com

MidSouthHomeBuyers.com

GetRichEducation.com

GREturnkey.com

 

Direct download: GREepisode136.mp3
Category:general -- posted at: 4:00am EDT

#135: From $50 million to zero. That’s what happened to the net worth of today’s guest, Rod Khleif, in the mortgage meltdown of 2008.

His mistake was that he focused on real estate appreciation rather than cash flow, and he lost control. He’s owned 2,000 single-family homes and multifamily units.

Rod is a motivating guy. He talks to us about Single Family vs. Multifamily Property, self-management of property, and the psychology of success and fulfillment.

Keith brings you today’s show from upstate Pennsylvania.

Want more wealth? Visit: 1) www.GetRichEducation.com to grab our free newsletter.  2) www.GREturnkey.com for actionable turnkey real estate investing opportunities.

Listen to this week’s show and learn:

02:40  Single Family vs. Multifamily.  

09:09  Professional management vs. self-management of property.

11:31  Self-visualization and motivation.

15:51  Goal-setting. The psychology of taking action. Visualization.

20:52  Gratitude.

22:46  How to find achievement and fulfillment.

29:49  Trade-offs: Single Family vs. Multifamily.

32:18  Should you ever self-manage property?

34:53  Giving yourself a pay raise at work and increasing your rent income on your properties.

Resources Mentioned:

RodKhleif.com | Text “ROD” to 41411

NoradaRealEstate.com

TheRealAssetInvestor.com/GRE

HighlandsMortgage.com

MidSouthHomeBuyers.com

GetRichEducation.com

GREturnkey.com

SpotCrime.com

 

Direct download: GREepisode135.mp3
Category:general -- posted at: 4:00am EDT

#134: Tom Wheelwright, Rich Dad Advisor and Founder of ProVision talks with Keith about classifying income property repairs vs. improvements.

We discuss how 401(k)s are for people that care little about involvement in their financial future.

Will taxes ever get simpler? Tom says no.

Classifying repairs vs. improvements is a big deal. There’s a $2,500 threshold distinguishing the two categories.

Want more wealth? Visit: 1) www.GetRichEducation.com to subscribe to our free newsletter.  2) www.GREturnkey.com for actionable turnkey real estate investing opportunities.

Listen to this week’s show and learn:

03:40  Early civilizations collected taxes: Ancient Egypt, Imperial China, the U.S. vs. Britain.

07:22  Income tax hurts employees most, beginning in 1944.

09:03  Will taxes ever get simpler? No.

11:30  Classifying repairs vs. improvements. “The $2,500 Rule.”

23:53  401(k) participation. Why would educated people be interested in one?

30:10  401(k)s are Salary Reduction Plans.

32:22  Before-tax vs. after-tax rates of return.

34:06  How to find the right tax advisor.  

Resources Mentioned:

TaxFreeWealthAdvisor.com

NoradaRealEstate.com

TheRealAssetInvestor.com/GRE

HighlandsMortgage.com

MidSouthHomeBuyers.com

GetRichEducation.com

GREturnkey.com

 

Direct download: GREepisode134.mp3
Category:general -- posted at: 4:00am EDT

#133: Now you can put just a 20% down payment on your first 10 financed properties. Requirements for cash reserves are now lower too. We discuss the details.

You need a loan for income property. Loans mean leverage. Leverage can produce great rates of return for you in an appreciating environment

Graham Parham, Senior Mortgage Loan Officer with Highlands Residential Mortgage talks about today’s terms for income property loans on 1-4 unit properties: down payment, interest rates, credit score, reserve requirements, debt-to-income ratios and more.

We’re talking about conventional Fannie Mae / Freddie Mac financed property requirements on non-owner occupied real estate.

Keith brings you today’s show from Philadelphia, PA.

Want more wealth? Visit: 1) www.GetRichEducation.com to subscribe to our free newsletter.  2) www.GREturnkey.com for actionable turnkey real estate investing opportunities.

Listen to this week’s show and learn:

01:30  Keith thinks that real estate will keep appreciating for a while, though at a slower rate.

04:35  20% down payments in your first ten 1-4 unit properties! Details.

06:57  Reserve requirements are now more loose. It’s now based on your unpaid balances.

11:12  Husband and wife: up to 10 loans each.

12:27  Home Equity Lines Of Credit and your Debt-To-Income Ratio.

15:14  The advantage of using an income property-oriented Mortgage Loan Officer.

19:00  Interest rates: owner-occupied vs. investor mortgage rates.

21:55  Down payments of 20% vs. 25%. Lower interest rate with 25% down?

23:57  Mortgage sequencing when you want multiple loans.

27:36  Looser lending climate today.

30:46  Property inspection reports.

Resources Mentioned:

Graham Parham Team: 1-855-326-6802

TexasInvestorLoans.com

GREturnkey.com

NoradaRealEstate.com

TheRealAssetInvestor.com/GRE

HighlandsMortgage.com

MidSouthHomeBuyers.com

GetRichEducation.com

Direct download: GREepisode133.mp3
Category:general -- posted at: 4:00am EDT

#132: Create wealth and time for yourself with these ideas, websites, apps, secrets, and shortcuts.

Get a 51% ROI from turnkey real estate investing. How? Example given.

Seth Williams of Bigger Pockets and the Lighter Side Of Real Estate joins us. Learn more about Seth at www.retipster.com.  

Want more wealth? Visit: 1) www.GetRichEducation.com to subscribe to our free newsletter.  2) www.GREturnkey.com for actionable turnkey real estate investing opportunities.

Listen to this week’s show and learn:

02:52  Achieve a 51% ROI from turnkey real estate investing with: appreciation, cash flow, tenant principal paydown, tax depreciation, and inflation-hedging.

07:26  Risks.

09:34  GREturnkey.com - Turnkey cash flowing property in investor-advantaged markets.

12:42  NeighborhoodScout.com - Aggregating neighborhood data like crime, school district.

16:45  Overcast podcast listening app.

19:30  BombBomb.com - Send video e-mails.    

22:00  RocketLawyer.com - Access to legal documents, contracts, real estate agreements. Convenient Q & A format completes documents for you.

23:28  Cozy.co - Free self-property management platform.

25:38  LeadPropeller.com - User-friendly website builder for real estate investors.

27:14  UnSplash.com - Free high-quality, rich images. Royalty-free and legal for your use.

29:00  InvestorCarrot.com - User-friendly website builder for real estate investors.

29:14  The importance of having a real estate investor website.

31:12  BluePay.com - Accept real estate payments through credit cards.

33:30  Trello.com - Cloud-based project management. Communicate with your team.

35:18  TextExpander.com - Productivity app that lets you conveniently insert boilerplate phrases. This way, you don’t need to type the same thing over-and-over.

37:34  Wunderlist.com - Create shared cloud-based checklists.

Resources Mentioned:

REtipster.com

NoradaRealEstate.com

TheRealAssetInvestor.com/GRE

HighlandsMortgage.com

MidSouthHomeBuyers.com

GetRichEducation.com

GREturnkey.com

 

Direct download: GREepisode132_1.mp3
Category:general -- posted at: 4:00am EDT

#131: Ken McElroy is our guest today. He’s the Rich Dad Advisor for real estate. Why does your tenant move out, and what will keep them inside your rental property?

He tells us what tenants want today and how rental trends have changed over the last 5, 10, and 20 years. With over 10,000 units in multiple markets in his company’s control, he knows.

In many markets, rent increases are not coming as easily as they were a few years ago.

Ken & I discuss the best ways to increase income on your property.

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

Listen to this week’s show and learn:

02:12  Polling tenants at move-out to determine why they moved.

05:05  Tenants are more mobile today. They go where jobs are.

06:40  Service level to tenants is more important today - fitness center, activities directors, shuttle vans, and even bartenders.

07:35  Living spaces of 200 - 300 square feet in urban cores and college towns.

09:44  Why can’t tenants pay more rent? Discussion on negative rent growth.

13:52  High rents can be a threat to public safety.

22:20  Why did your tenant move out?

28:03  School districts, crime.

30:19  Forecasting infrastructure improvements and how that boosts local real estate.

34:47  Websites that Ken uses for real estate market research.

37:22  Increasing your Net Operating Income - best ways, dumbest ways.

40:49  Pushing rents too high.

44:12  Ken feels real estate is still the best asset class to be invested in. But he tells us to exercise caution in a hot market.

46:22  Catch up with Ken at KenMcElroy.com  Check out his great video series, KenFlix.

47:53  A lot of people are going to lose everything in the next five years.

Resources Mentioned:

KenMcElroy.com

Nmhc.org | Uli.org

NoradaRealEstate.com

TheRealAssetInvestor.com/GRE

HighlandsMortgage.com

MidSouthHomeBuyers.com

GetRichEducation.com

 

Direct download: GREepisode131_1.mp3
Category:general -- posted at: 4:00am EDT

#130: The U.S. housing market shortage is on. Inventory is getting squeezed in many markets. Keith discusses.

Jordan Goodman is our guest today. He’s “America’s Money Answers Man” and you’ve seen him answer money questions across the decades on The View, Fox News Network, CNN, CNBC, the CBS Evening News, Money Magazine, and terrestrial radio.

He’s also authored 13 books on personal finance.

Jordan tells us: how you can use leverage, how to create a cash flow stream by making a real estate loan to others, what Donald Trump means to real estate investors, about the future of interest rates, consumer sentiment, and more.

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

Listen to this week’s show and learn:

01:22  The U.S. housing squeeze is on. For example, in Seattle, one in only 263 homes is for sale.

04:24  Bubbles.

07:02  Jordan Goodman interview begins.

09:27  Leverage: dolphins vs. sharks.

16:28  Build an income stream of 8% cash flow by being a lender on commercial real estate.

27:18  Donald Trump and the real estate market.  

31:21  The U.S. real estate shortage.

33:10  Interest rates.

34:27  Consumer sentiment and jobs.

37:32  Banks are not paying more on deposits, even with higher interest rates.

39:40  Reclaim your lost escrow dollars by using these websites.

Resources Mentioned:

MoneyAnswers.com

NoradaRealEstate.com

TheRealAssetInvestor.com/GRE

HighlandsMortgage.com

MidSouthHomeBuyers.com

GetRichEducation.com

CommercialRealEstateIncomeFunds.com

VerifyMyMortgage.com

VerifyMyEscrow.com

Article: 10 U.S. Cities With Biggest Housing Shortages

 

Direct download: GREepisode130.mp3
Category:general -- posted at: 4:00am EDT

#129: Dallas, TX could be the strongest real estate market in the entire U.S. as it keeps experiencing staggering business, job, and population growth.

In fact, Forbes has named Dallas, TX as the #1 place to invest in 2017.

But if you live outside Dallas-Fort Worth, how do you capture the upside yourself? With turnkey single-family income property.

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

Listen to this week’s show and learn:

02:50  Texas has had great economic fortune for decades. Geopolitical Strategist Peter Zeihan tells us that this will continue.

04:18  Dallas-Fort Worth’s astounding population growth.

05:16  Why to invest in single-family homes rather than apartment buildings.

09:55  In a hot market, have a relationship with a team that can get housing inventory.

12:03  Competing for housing inventory. Targeting 7%+ cash-on-cash return.

15:31  Product type: SFHs with minimum of 3 BR, 2 BA, 2-car garage.

17:14  Don’t “over-improve.” Examples.

20:30  What type of person invests in turnkey real estate? Busy people.

22:38  In-house property management.

25:58  The economies of scale advantage with contractors.

28:30  Averages: rent income $1,600 and sale price $170,000.

29:51  Investors have one point of contact.

31:18  Management companies propose solutions, not just pose problems.

32:30  April 21-23: Attend the upcoming Dallas Income Property Tour & Workshop.

34:45  High tenant quality.

36:05  Positive cash flow.

Resources Mentioned:

GetRichEducation.com/Texas

Blog Article: Triple Your Equity In Five Years

TheRealAssetInvestor.com/GRE

HighlandsMortgage.com

MidSouthHomeBuyers.com

GetRichEducation.com

 

Direct download: GREepisode129_1.mp3
Category:general -- posted at: 4:00am EDT

#128: These five money myths are killing your wealth potential.

Don’t believe: 1) Get your money to work for you. 2) Compound interest creates wealth. 3) Be debt-free. 4) Home equity has a rate of return. 5) Live below your means.

All five of the above are money mindset myths. If you believe them, you won’t create wealth.

Real estate investing cures all five money mindset myths.

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

Listen to this week’s show and learn:

02:07  Your brain is programmed to survive rather than thrive.

06:10  Why dispelling mindset myths is important.

10:46  Other people’s money.

16:23  Example of financial leverage.

17:39  Don’t be debt-free; be financially-free. Examples.

24:45  Inflation-hedging.

26:15  Compound Interest vs. Leverage.

28:41  “Millionaire.” Who cares?

31:12  Equity has zero rate of return. It’s unsafe and illiquid. Examples.

35:25  Equity transfers.

37:29  Should you pay off your primary residence?

39:26  Lawsuits.

40:28  Myth: “Live below your means.”

43:10  Don’t budget.

44:32  Question your answers.

45:49  The power of being bold.

 

Resources Mentioned:

PassiveRealEstateInvesting.com

NoradaRealEstate.com

TheRealAssetInvestor.com/GRE

HighlandsMortgage.com

MidSouthHomeBuyers.com

GetRichEducation.com

 

Direct download: GREepisode128.mp3
Category:general -- posted at: 4:00am EDT

#127: You are invested in a zero-return investment. Home Equity is unsafe, illiquid, and its rate of return will always be zero. Then why are you so heavily invested in home equity?

We discuss strategies to turn this around, and use home equity as a wealth-builder for you.

Making extra mortgage principal payments on one’s home is usually a terrible idea.

Striving to be debt-free often prevents one from becoming financially-free. You'll see why.

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

Listen to this week’s show and learn:

03:57  ROI.

04:28  Turnkey income property inventory keeps tightening.

06:33  You have money that you didn’t know you have.

07:35  Your value as a listener.

12:04  How much of a zero-return investment would you want?

13:44  Debt-Free vs. Financially-Free.

17:01  Property equity is unsafe, illiquid, and has zero rate of return.

20:18  Equity transfers.

24:46  Making extra principal payments on one’s home.

26:55  “Feelings.”

27:32  30-year fixed vs. 15-year fixed amortizing mortgage loans.

34:56  Control.

41:51  HELOCs.

 

Resources Mentioned:

NoradaRealEstate.com

TheRealAssetInvestor.com/GRE

HighlandsMortgage.com

MidSouthHomeBuyers.com

GetRichEducation.com

 

Direct download: GREepisode127.mp3
Category:general -- posted at: 4:00am EDT

#126: Robert Kiyosaki is our guest today. He’s the #1 Selling Personal Finance Author Of All-Time. He’s authored numerous titles, including the mega-popular “Rich Dad, Poor Dad”.

He leads the Rich Dad Company, whose mission is “Elevating the financial well-being of all humanity.”

Don’t work for money. Let your assets produce money for you.  

Kiyosaki’s enduring mantras include: The Rich Don’t Work For Money | Your House Is Not An Asset | Don’t Live Below Your Means, Expand Your Means | Savers Are Losers, Debtors Are Winners and countless other influential quotes and statements.

Keith hosts today’s show from Anchorage, Alaska.

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

Listen to this week’s show and learn:

02:12  The power of the book “Rich Dad, Poor Dad”.

04:23  Robert Kiyosaki interview begins.

05:12  Kiyosaki: Our school system is corrupt.

07:36  The Communist Manifesto (1848) by Karl Marx and Friedrich Engels.

10:16  If you own enough production, you won’t work for money.

11:16  Dying capitalism in the United States.

13:05  “Don’t live below your means. Expand your means.”

15:25  Kiyosaki adds 300-400 properties to his portfolio annually.

16:39  “Printing money on demand.”

18:17  Oil prices.

21:21  You Are The President Of Your Own Life.

24:28  Before buying real estate, consider the amount of debt you can get. Net Operating Income. Consumer Debt vs. Investor Debt.

26:44  20th Anniversary Edition of Rich Dad, Poor Dad.

29:18  The rich, middle class, poor. Concern about a crash. Debt and taxes.

30:32  What can the everyday person do?

31:04  Kiyosaki: We’re going into a depression.

34:45  Weinhold on debt.

36:10  Eight old rules of wealth. It’s faulty financial programming.

39:35  Ripping 401(k)s.

41:16  Telling yourself the truth.

41:53  Donald J. Trump. Keith gives a political opinion.

Resources Mentioned:

RichDad.com

Amazon: Rich Dad, Poor Dad

NoradaRealEstate.com

TheRealAssetInvestor.com/GRE

HighlandsMortgage.com

MidSouthHomeBuyers.com

GetRichEducation.com

Direct download: GREepisode126_1.mp3
Category:general -- posted at: 4:00am EDT

#125: Your passive income streams are durable to the extent that they’re diversified.

Specialty agriculture can realize spectacular gains as the world’s amount of arable land diminishes. At the same time there are more mouths to feed.

There is a massive undersupply of fine cacao for the world's strong market demand.

Chocolate is derived from the cacao tree. Quality cacao thrives in the stable Central American nation of Belize. Finished products include gourmet chocolate and cacao butter.

You can realize a cash flow stream from the annual harvest of the cacao beans, and it's all managed for you.

Learn about the returns, risks, cacao supply vs. demand, and more.

Keith hosts today’s show from Anchorage, Alaska.

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

Listen to this week’s show and learn:

01:40  Durable wealth means having multiple diverse income streams.

03:12  Cacao (chocolate) farm investing in Belize.

05:00  Panama coffee farm parcel investing update.

07:01  Cacao farming business model.

09:11  Why Belize was chosen for cacao crops.

11:21  Supply vs. Demand for fine-flavored cacao.

16:05  Chocolate is a proven product with sustainable demand.

22:20  What a cacao farm looks like.

28:29  Risks.

31:48  $24,500 per half-acre parcel. Investors need not be accredited, no loans, 11-12% cash return expected over time (not including potential land appreciation). IRA funds eligible.

36:13  Exit strategy.

38:42  Proven product, stable government, secure, turnkey managed, social benefit.

41:53  Attend a cacao farm tour.

43:43  Cacao trees produce fruit regardless of how financial markets perform.

44:40  Nationalism.

45:50  Provider track record, and retaining local labor.

48:20  Learn more at GetRichEducation.com/Chocolate

 

Resources Mentioned:

GetRichEducation.com/Chocolate

NoradaRealEstate.com

TheRealAssetInvestor.com/GRE

HighlandsMortgage.com

MidSouthHomeBuyers.com

GetRichEducation.com

 

Direct download: GREepisode125.mp3
Category:general -- posted at: 4:00am EDT

#124: Why mobile home parks of all investment vehicles? Guest Kevin Bupp tells us by explaining why they’re so misunderstood and he helps dispel stigmas.

Mobile home park (MHP) residents stay in their home longer because they actually own the mobile home. Therefore, they also take better care of their place. As the investor, you rent the lot to the tenant. This also makes MHPs easier to manage.

Keith brings you today’s show from Bridgetown, Barbados.

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

Listen to this week’s show and learn:

03:02  There is a stigma with mobile home parks (MHPs). Here’s how that can actually benefit you.

05:04  Dealing with municipalities.

07:55  Management of MHPs.

10:31  Lack of competition.

14:07  Community aspect.

20:40  Utilities.

25:32  Financing for MHPs. Owner financing is more common than bank financing.

29:02  How do you find a mobile home park for sale?

33:29  Your Return On Time Invested.

37:24  Syndication opportunity.

38:10  Mistakes to avoid.

42:39  In two weeks, Robert Kiyosaki returns here to the show.

 

Resources Mentioned:

KevinBupp.com

MobileHomeParkAcademy.com

Loopnet.com

MobileHomeParkStore.com

NoradaRealEstate.com

TheRealAssetInvestor.com/GRE

HighlandsMortgage.com

MidSouthHomeBuyers.com

GetRichEducation.com

Direct download: GREepisode124.mp3
Category:general -- posted at: 4:00am EDT

#123: What if the value of your income properties falls 40% vs. the value of stock falls 40%?

We explore the strategic, emotional and practical side of this.

Learn how you stop losing money by paying the opportunity cost of not being invested strategically. How to use desktop methods to research the right properties and markets.

Keith is invested in a real estate market where there’s a recession. Here’s how he deals with it.

Keith brings you today’s show from San Juan, Puerto Rico.

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

Listen to this week’s show and learn:

02:50  Most real estate investors buy property for convenience, not strategy.

05:34  Reading about 3-D printing before investing in Memphis real estate (really?).

07:17  Use these desktop methods to research property.

09:12  When your stocks fall 40%, a story of what happens tactically and emotionally.

17:20  There have been 25 stock bear markets since 1929.

18:27  Corporate Direct for asset protection.

21:58  The mortgage meltdown of 2009.

23:31  What happens if you income property portfolio fell in value by 40%?

26:56  In a stock meltdown, companies disappear. In a real estate meltdown, you still own land, brick, concrete, wood, copper wire, and glass.

28:23  Warren Buffett’s Rule No. 1: “Don’t lose money.”

29:07  Keith owns income property in Anchorage, Alaska, and there’s a recession there.

31:34  Submarkets and business sectors.

34:58  Invest in 3-5 different metros.

37:11  Home inspections.

Resources Mentioned:

WeGoLook.com

NoradaRealEstate.com

TheRealAssetInvestor.com/GRE

HighlandsMortgage.com

MidSouthHomeBuyers.com

GetRichEducation.com

 

Direct download: GREepisode123_new-pre-roll.mp3
Category:general -- posted at: 4:00am EDT

#122: How do you invest in resort property? Why would you want to?

Ambergris Caye is Belize’s largest island. It has been named Trip Advisor’s #1 Island In The World two years in a row. Learn why.

Ambergris Caye, Belize has world-class water sports, the longest living reef in the world, stable banking, is close to the U.S., English is the official language, and housing demand there far outstrips supply.  

Belize has business-friendly government officials and strong property ownership rights.

A new construction resort development project on Ambergris Caye promises to help ease the supply constraint. There is an investment opportunity for you here.

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

Listen to this week’s show and learn:

02:00  Serving resort-goers often means serving Baby Boomers.

04:25  What’s riskier: investing outside your home nation, or having everything tied up in one nation’s economy and currency?

06:36  Belize is closer to more Americans than Hawaii. Airlines are adding passenger seats to Belize at an astonishing clip.

07:58  Why resort investing? Why Belize?

11:30  Belize is Central America’s only nation where English is the official language.

15:14  Ambergris Caye’s transition from a sleepy fishing village to world-renowned destination.

17:15  The large barrier reef is just hundreds of yards off the island. This attracts sportfishing, snorkeling, and diving. It also acts as a natural hurricane buffer.

21:37  Mahogany Bay Village on Ambergris Caye.

24:00  Belizean wood products and Belizean labor are utilized to construct the project.

24:38  What’s the opportunity for the investor?

26:58  Lack of financing is a problem. It’s also an opportunity.

30:08  For an investor, this investment is passive. Professional management is in place. Low property tax, low rental income tax.

31:16  Imagine owning income property that you can enjoy visiting and using.

33:10  Investors can expect double-digit returns. Hotel management fees are low due to economies of scale.

34:22  This resort is so well thought-out that Hilton recently came in and branded it. Hilton's due diligence has validated the development. Their marketing power promises to be transformational.

36:13  Your opportunity to visit Ambergris Caye, Belize for a real estate field trip.

40:17  REVPAR means revenue per available room.

42:11  Locally-sourced development upholds the culture.

 

Resources Mentioned:

TheRealAssetInvestor.com/GRE

NoradaRealEstate.com

MidSouthHomeBuyers.com

GetRichEducation.com

 

Direct download: GREepisode122.mp3
Category:general -- posted at: 4:00am EDT

#121: What’s your personal “Money Operating System”?

Hilary Hendershott is the personal finance expert on the NBC Evening News in California’s Silicon Valley. An MBA, CFP, and TEDx Speaker, she’s an an authority on money strategy and mindset.

Money has an infinite supply; then why do most people have a limiting belief about money? Also, we discuss how men and women approach money differently.

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

Listen to this week’s show and learn:

01:05  Rising mortgage interest rates.

05:00  Hilary Hendershott interview begins.

06:03  Limiting beliefs about money.

08:47  Money isn’t real; it’s a concept, an abstraction, a promise.

11:43  Lottery winners that go broke.

13:44  Common “Money Operating Systems”.

18:18  Does society spend too much time emphasizing money?

20:00  Men vs. women and money.

26:04  Real estate investing for cash flow.

28:22  Tax depreciation on rental property. Avoiding depreciation recapture.

31:38  “Money is the root of all evil.” Really? Keith analyzes.

 

Resources Mentioned:

HilaryHendershott.com

NoradaRealEstate.com

TheRealAssetInvestor.com/GRE

MidSouthHomeBuyers.com

GetRichEducation.com

MortgageNewsDaily.com

Direct download: GREepisode121.mp3
Category:general -- posted at: 4:00am EDT

#120: One of the few coastal markets where you can find cash flow is Jacksonville, Florida.

Fortune 500 companies, the military, and the seaport support this market, not tourism.

Learn about investing in these single-family homes with two and three-year leases, how unscrupulous management companies can manipulate you, and how to protect your cash flow.

Learn more at GetRichEducation.com/Jax

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

Listen to this week’s show and learn:

00:54  Don’t follow money. Make money follow you.

03:31  Have a sound strategy. Don’t “throw darts at a map”.

04:02  In real estate investing, your team of pros (Property Manager) could be more important than the geographic market itself.

05:01  Gregg Cohen interview begins.

06:29  Cash flow in a coastal market?

08:04  Population growth, business sectors and industry. Amazon.

11:31  Jacksonville is younger than the rest of Florida. Age 35 vs. 42.

12:27  Panama Canal expansion and Jacksonville.

14:59  Property Management: How some companies manipulate you with 1-year leases.

20:46  2-year and 3-year leases as “the norm.”

24:42  Renovation & management companies have the same ownership. Communication.

29:15  How to protect your cash flow amount.

30:40  3 bedroom, 4 bedroom, and 5 bedroom single-family homes. Screening tenants.

33:54  Florida Landlord-Tenant Law.

35:16  Property improvements.

38:10  Hurricanes and Jacksonville.

40:05  Rent-to-price ratio.

41:04  Minimum investment to get started, current inventory.

42:17  As a new client, provider pays up to $1,000 for your Jacksonville trip.

45:00  Our guest wrote three great Jacksonville turnkey RE investing reports you can get at: GetRichEducation.com/Jax

 

Resources Mentioned:

GetRichEducation.com/Jax

NoradaRealEstate.com

TheRealAssetInvestor.com/GRE

MidSouthHomeBuyers.com

GetRichEducation.com

 

Direct download: GREepisode120.mp3
Category:general -- posted at: 4:00am EDT

#119: Harry Dent is our guest today. He’s among the world’s best-known financial prognosticators. Does Harry still think the Dow Jones will fall to 6,000 points this year?

Dent answers questions most won’t: Where are real estate prices headed? Oil? Interest rates? Stock market? Inflation vs. Deflation? Gold? GDP growth?

Author, Economist, Demographer Harry Dent’s latest book, released this month, is called “The Sale Of A Lifetime: How The Bubble Burst Of 2017 Can Make You Rich”.

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

Listen to this week’s show and learn:

01:28  Harry Dent likes making predictions. People listen because the depth of his research is so extensive.

05:16  Harry believes the stock market will trend up until the summer, then a potential crash begins.

10:30  Growth that the U.S. experienced in prior decades won’t return due to demographics.

12:53  Stock market bubble catalysts / indicators: Demographics, Trump, bonds.

15:30  How China’s overbuilt infrastructure affects you & the world.

19:42  Can Trump control demographics?

24:00  Dent: Why interest rates are headed up, then going lower than ever.

28:15  Which real estate will falter? Which will do well?

30:57  Dent: Mortgage interest rates will peak this year at 4% to 4.5%, bottoming around 2020.

33:07  Dent: In a downturn, positive cash-flowing residential real estate looks great.

33:53  Dent: Oil prices won’t go over $62. Could fall to $20-$30 again.

35:45  Dent: Deflation more likely than inflation. 5-10% inflation is impossible. Gold comments.

39:05  What can you do to position yourself  for prosperity?

44:30  Your demography is your destiny.

 

Resources Mentioned:

HarryDent.com

NoradaRealEstate.com

TheRealAssetInvestor.com/GRE

MidSouthHomeBuyers.com

GetRichEducation.com

 

Direct download: GREepisode119.mp3
Category:general -- posted at: 4:00am EDT

#118: What’s your risk tolerance? Keith discusses risk with mortgage loans for 1-4 unit properties, then for apartment building loans.

Later, Marco Santarelli joins Keith to tell you why they believe that real estate is the best asset class compared to stocks, businesses, commodities, and cash.

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

Listen to this week’s show and learn:

01:37  Should you get a 30-year mortgage loan or 15-year?

05:02  Risk with apartment building loans - balloon terms, interest-only loans, prepayment penalties.

11:31  Keith’s personal habits and faults.

12:58  Get Keith’s free wealth-building newsletter is at GetRichEducation.com  Read Keith’s blog at GetRichEducation.blog

18:51  Marco Santarelli interview begins. “Why real estate?”

22:03  Real estate provides five profit centers at the same time.

23:00  What is an asset class?

25:24  Paper assets.

27:08  Stock dividends, options trading.

28:59  Commodities.

30:43  Investing in businesses.

34:18  Real estate investing.

35:32  Liquidity, control, passivity, stability.

37:20  Cash’s importance for emergencies, opportunity to fund a deal.

 

Resources Mentioned:

NoradaRealEstate.com

PassiveRealEstateInvesting.com

TheRealAssetInvestor.com/GRE

MidSouthHomeBuyers.com

GetRichEducation.com

 

Direct download: GREepisode118.mp3
Category:general -- posted at: 4:00am EDT

#117: Surprisingly, Alabama is one of the most economically forward-looking U.S. states.

Here’s why, and here’s how you can profit from this at the right time in the business cycle by investing in Birmingham income property.

Birmingham is Alabama’s largest city amidst a growing population, diverse economic sectors, and a business-friendly climate.

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:

01:01  Alabama is one of the most economically forward-looking states in the U.S.

03:44  Geopolitical Strategist Peter Zeihan’s remarks about Alabama’s top ability to attract foreign capital.

05:22  Disloyalty to markets.

06:14  Don’t be a flipper or landlord. Be an investor.

08:00  Maureen McCann interview begins; Birmingham’s business sectors.

10:14  The right Birmingham submarkets and neighborhoods.

12:17  Average $104,000 purchase price, $1,050 rent, 3 BR/2 BA, 1,500 sf.

15:55  Renovation extent.

18:41  Tenant retention.

19:39  Property manager communication with you.

22:10  When you close, property is occupied 96% of the time.

25:12  Turnkey Provider and Property Manager all in-house.

27:44  Tenant screening.

29:29  Alabama as a landlord-friendly state.

30:28  Geographic pitfalls?

32:32  Choosing the right team.

34:45  Minimum investment to get started.

35:22  Learn more at GetRichEducation.com/Birmingham

38:00  “VIMTM.”

 

Resources Mentioned:

GetRichEducation.com/Birmingham

NoradaRealEstate.com

TheRealAssetInvestor.com/GRE

MidSouthHomeBuyers.com

Direct download: GREepisode117_1.mp3
Category:general -- posted at: 4:00am EDT

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