Get Rich Education

Housing inventory could finally be turning the corner. There are now more available homes (549K) today than one month ago (504K) and two months ago (492K).

56% of homes still sell above their asking price. 

Get our free, wealth-building newsletter. It’s the real estate industry’s best at: GetRichEducation.com/Letter

I provide a condensed history of the income tax. In 1913, the top income tax rate was 7%.

Tom Wheelwright joins GRE for a record 21st time on green energy tax breaks.

Wind, solar, hydrogen, geothermal, nuclear, and car charging stations will likely receive more tax incentive support under Joe Biden. 

Oil & gas tax deductions could be limited or eliminated.

Resources mentioned:

Show Notes:

www.GetRichEducation.com/355

Tom Wheelwright’s network:

Wealthability.com

Watch Tom & I on YouTube:

GetRichEducation.com/YouTube

Active Listing Count Of Homes:

https://fred.stlouisfed.org/series/ACTLISCOUUS

The Income Tax Since 1913:

https://bradfordtaxinstitute.com/Free_Resources/Federal-Income-Tax-Rates.aspx#

Get mortgage loans for investment property:

RidgeLendingGroup.com

JWB’s available Florida income property:

www.CashFlowAndGrowth.com

eQRPs: text “EQRP” in ALL CAPS to 72000 or:

eQRP.co

By texting “EQRP” to 72000 and opting in, you will receive periodic marketing messages from eQRP Co. Message & data rates may apply. Reply “STOP” to cancel.

Best Financial Education:

GetRichEducation.com

Get our free, wealth-building “Don’t Quit Your Daydream Letter”:

www.GetRichEducation.com/Letter

Top Properties & Providers:

GREturnkey.com

Follow us on Instagram:

@getricheducation

Keith’s personal Instagram:

@keithweinhold

Direct download: GREepisode355_.mp3
Category:general -- posted at: 4:00am EDT

Rents are shooting up in many metros, including GRE cities.

Cyclically, housing prices shoot up first. Rent raises follow.

Inflation is hot: CPI is up 5.4%, PPI up 7.3%.

Tom Wheelwright, CPA of Wealthability joins us. Topics: 

Will income tax and capital gains tax increase? 

The 1031 Exchange is at risk!

How to contest your property taxes.

Involving your children in your business for tax breaks.

A more active tax audit climate. 

This is Tom’s record 20th GRE appearance.

Resources mentioned:

Show Notes:

www.GetRichEducation.com/354

Tom Wheelwright’s network:

Wealthability.com

Get mortgage loans for investment property:

RidgeLendingGroup.com

JWB’s available Florida income property:

www.CashFlowAndGrowth.com

eQRPs: text “EQRP” in ALL CAPS to 72000 or:

eQRP.co

By texting “EQRP” to 72000 and opting in, you will receive periodic marketing messages from eQRP Co. Message & data rates may apply. Reply “STOP” to cancel.

Best Financial Education:

GetRichEducation.com

Get our free, wealth-building “Don’t Quit Your Daydream Letter”:

www.GetRichEducation.com/Letter

Top Properties & Providers:

GREturnkey.com

Follow us on Instagram:

@getricheducation

Keith’s personal Instagram:

@keithweinhold

Direct download: GREepisode354_.mp3
Category:general -- posted at: 4:00am EDT

Society and media often lambaste landlords.

I discuss an absurd article titled: “Landlord System Morally Unethical… Contributing Nothing To Society”.

Some slumlords exist, but many landlords are responsible.

Many landlord critics think money is inherently evil.

Damion Lupo joins me to discuss what happened at the latest Real Estate Guys’ Investor Summit.

The homeownership rate is expected to decrease, meaning more renters.

It will take at least a decade to raise housing supply to meet demand.

We discuss whether inflation is here to stay or not.

Damion provides you with the best retirement plan that I’ve ever heard known - the eQRP. Make gains truly tax-free, have $100K+ annual contribution limits, and invest in virtually anything - real estate, crypto, your own business.

Learn more. Text: “EQRP” to “72000”.

Resources mentioned:

Show Notes:

www.GetRichEducation.com/353

Chantilly News on landlords:

https://chantillynews.org/7141/opinions/landlord-system-morally-unethical-contribute-nothing-to-society/

Get mortgage loans for investment property:

RidgeLendingGroup.com

JWB’s available Florida income property:

www.CashFlowAndGrowth.com

Ali Boone’s Recommended Book:

https://amzn.to/2NsMVlF

eQRPs: text “EQRP” in ALL CAPS to 72000 or:

eQRP.co

By texting “EQRP” to 72000 and opting in, you will receive periodic marketing messages from eQRP Co. Message & data rates may apply. Reply “STOP” to cancel.

Best Financial Education:

GetRichEducation.com

Get our free, wealth-building “Don’t Quit Your Daydream Letter”:

www.GetRichEducation.com/Letter

Top Properties & Providers:

GREturnkey.com

Follow us on Instagram:

@getricheducation

Keith’s personal Instagram:

@keithweinhold

Direct download: GREepisode353_.mp3
Category:general -- posted at: 4:00am EDT

Paid-off properties have an opportunity cost that few consider.

Wealthy celebrities that choose mortgages are: Mark Zuckerberg & his wife, Elon Musk, Megan Markle & Prince Harry, Beyonce & Jay-Z, Chrissy Teigen & John Legend, and Charlie Sheen.

I personally have held millions in mortgage debt from a young age. I’ve long had the ability to pay it off, have not, and will not.

Good debt defined: 1) Secured. 2) Low mortgage interest rate. 3) Payments outsourced to tenants. 

How your bank sees your debt: 1) You have insured their collateral. 2) When you improve the property, you improve their collateral. 3) 1-4 unit properties - comparables. 5+ properties - income & debt coverage ratio.

The risk of high mortgage debt is being overleveraged. This means you cannot service the debt payments.

Chris Naghibi joins me. Though he dispenses financial guidance to celebrities, he helps everyday people qualify for mortgages.

We discuss mistakes to avoid with your credit score and debt-to-income ratio.

Learn about today’s appraisal environment.

Today, on average, homes sell for more than the asking price. That’s weird!

The average credit score is now 786 for mortgage borrowers. 

Resources mentioned:

Show Notes:

www.GetRichEducation.com/352

Chris Naghibi:

TikTok: @ChrisNaghibi

Instagram: @ChrisNaghibi

YouTube: Chris Naghibi 

Get mortgage loans for investment property:

RidgeLendingGroup.com

JWB’s available Florida income property:

www.CashFlowAndGrowth.com

Ali Boone’s Recommended Book:

https://amzn.to/2NsMVlF

EQRPs: text “EQRP” in ALL CAPS to 72000 or:

eQRP.co

By texting “EQRP” to 72000 and opting in, you will receive periodic marketing messages from eQRP Co. Message & data rates may apply. Reply “STOP” to cancel.

Best Financial Education:

GetRichEducation.com

Get our free, wealth-building “Don’t Quit Your Daydream Letter”:

www.GetRichEducation.com/Letter

Top Properties & Providers:

GREturnkey.com

Follow us on Instagram:

@getricheducation

Keith’s personal Instagram:

@keithweinhold

Direct download: GREepisode352_.mp3
Category:general -- posted at: 4:00am EDT

1