Get Rich Education (general)

Is the economy healthy or unhealthy?

We’ve had two consecutive quarters of GDP contraction. High inflation and supply problems persist. On the other hand, we have a strong jobs market, low unemployment, and high rent increases.

Ultimately, the NBER decides whether or not we’re in a recession.

Today’s guest, Tom Wheelwright of Wealthability, tells us why he thinks we’re in a recession. 

I share with you the exact rent increase numbers I’ve had on my rental single-family homes.

Historically, a recession occurs every five years, on average.

Whether we’re there yet or not, I believe there’s a likelihood of a recession soon.

Tom thinks whether or not a recession is declared is important; it affects consumer sentiment.

He breaks down the new “Inflation Reduction Act”. It does not appear to help reduce inflation. 

Rather, it appears that it will: increase union wages, enact climate change policy, add taxes to pharmaceuticals, hurt small business, and increase IRS enforcement.

“People who have never seen an IRS audit will see IRS audits.” -Tom Wheelwright

Resources mentioned:

Show Notes:

www.GetRichEducation.com/410

Get started on lowering your taxes with Tom Wheelwright:

GetRichEducation.com/Tax

All U.S. Employed Persons: 

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

30-Year Mortgage Rate History (gray bars are recessions):

https://fred.stlouisfed.org/series/MORTGAGE30US

Get mortgage loans for investment property:

RidgeLendingGroup.com or call 855-74-RIDGE 

or e-mail: info@RidgeLendingGroup.com

JWB’s available Florida income property:

www.jwbrealestate.com/gre or (904) 677-6777

To learn more about eQRPs: text “GRE” to 307-213-3475 or:

eQRP.co

Available Central Florida new-build income properties:

www.b2rdirect.com

Analyze your RE portfolio at: (use code “GRE”):

MyPropertyStats.com 

Best Financial Education:

GetRichEducation.com

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

www.GetRichEducation.com/Letter

Our YouTube Channel:

www.youtube.com/c/GetRichEducation

Top Properties & Providers:

GREmarketplace.com

Follow us on Instagram:

@getricheducation

Keith’s personal Instagram:

@keithweinhold

Direct download: GREepisode410_.mp3
Category:general -- posted at: 4:00am EDT

Is today’s housing market healthy? “Yes” for rental property owners, existing homeowners, and sellers. “No” for renters, wannabe first-time home buyers.

“Unbalanced” is a better word to describe today’s housing market.

I bought my first income property 20 years ago today.

In negotiation, emotions trump facts.

Chris Voss, former FBI hostage negotiator, joins us for real estate negotiation tips. 

If you need a decision from someone, get it in the morning before they have decision fatigue.

In a negotiation, try to get agreement. Don’t try to get the other party to say “yes”.

Chris likes to let the other side talk first.

Let “no” out slowly. A great way to say it is, “How am I supposed to do that?”

Self-deprecating humor can work in negotiation.

Learn how to motivate people to finish projects in a timely fashion for you.

Resources mentioned:

Show Notes:

www.GetRichEducation.com/409

Black Swan Group:

www.blackswanltd.com

Mike Gundy rant “I’m a man. I’m 40.”:

https://youtu.be/zQ3oXkDPKbM

Get mortgage loans for investment property:

RidgeLendingGroup.com or call 855-74-RIDGE 

or e-mail: info@RidgeLendingGroup.com

JWB’s available Florida income property:

www.jwbrealestate.com/gre or (904) 677-6777

To learn more about eQRPs: text “GRE” to 307-213-3475 or:

eQRP.co

Available Central Florida new-build income properties:

www.b2rdirect.com

Best Financial Education:

GetRichEducation.com

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

www.GetRichEducation.com/Letter

Our YouTube Channel:

www.youtube.com/c/GetRichEducation

Top Properties & Providers:

GREmarketplace.com

Follow us on Instagram:

@getricheducation

Keith’s personal Instagram:

@keithweinhold

Direct download: GREepisode409_.mp3
Category:general -- posted at: 4:00am EDT

We compare the safety of all these investments: cash, savings accounts, treasuries, CDs, gold, cryptocurrency, stocks, mutual funds, ETFs, raw land, a primary residence, and income properties.

Listen to a mainstream media video clip about inflation from NBC Nightly News.

We get a Florida market update from GREmarketplace.com/Orlando.

Overall housing supply is low. It’s even lower for entry-level properties.

For renovated properties, Florida insurance premiums have risen dramatically in the past few years. However, for new-builds, premiums are about 70% lower.

These particular available properties in Palm Bay, FL are typically: 4 BR, 2 BA, 2-car garage, concrete block, single-family rentals, new-build, vinyl flooring, granite counters, and infill quarter-acre lots. $319,000 is what buyers pay. 

Today, these properties appear to appraise for $370,000+. You have $51K+ of built-in equity.

For those that select property at GREmarketplace.com/Orlando, your insurance is paid for the first year. 

Resources mentioned:

New-build Florida income property for $319,000:

GREmarketplace.com/Orlando

Show Notes:

www.GetRichEducation.com/408

NBC Nightly News on Inflation:

https://youtu.be/Lco2EjA-6IA

Get mortgage loans for investment property:

RidgeLendingGroup.com or call 855-74-RIDGE 

or e-mail: info@RidgeLendingGroup.com

JWB’s available Florida income property:

www.jwbrealestate.com/gre or (904) 677-6777

To learn more about eQRPs: text “GRE” to 307-213-3475 or:

eQRP.co

Available Central Florida new-build income properties:

www.b2rdirect.com

Best Financial Education:

GetRichEducation.com

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

www.GetRichEducation.com/Letter

Our YouTube Channel:

www.youtube.com/c/GetRichEducation

Top Properties & Providers:

GREmarketplace.com

Follow us on Instagram:

@getricheducation

Keith’s personal Instagram:

@keithweinhold

Direct download: GREepisode408_.mp3
Category:general -- posted at: 4:00am EDT

When mortgage rates rise, home builders slow down on building. This constrains supply and supports housing prices.

A record share of Americans say inflation is their No. 1 concern. The CPI is 9.1%.

Property operating expenses are rising with inflation, like insurance and property tax. What helps you pay for it? Rising rent.

Philosophically, why should you raise the rent on your tenants? 

Besides adjusting it to the market amount, you took time learning, you built your credit, you accumulated a 20% down payment, you originated an 80% loan, your operating expenses are rising, you weathered pandemic uncertainty.

If an auto mechanic makes $60 an hour, in ten years, they might make $90 an hour. Where’s the growth in this?

Kathy Fettke from Real Wealth joins us.  

We disagree on the housing market being “healthy”.

I believe a good description of the housing market is: "unbalanced":

Healthy for: rental property owners, existing homeowners, sellers.

Unhealthy for: renters, homebuyers. 

She believes that the Fed has overstimulated the economy, prices are high, and housing is undersupplied.

We discuss real estate’s demographic advantage.

We agree that it’s a bad market for prospective first-time buyers and renters, and good for those that have rental properties.

A housing price crash anytime soon is highly unlikely.

She & I each believe that today, it makes sense to add carefully-bought rental properties to rent to others.

Resources mentioned:

Show Notes:

www.GetRichEducation.com/407

Real Wealth with Kathy Fettke:

https://realwealth.com/

Get mortgage loans for investment property:

RidgeLendingGroup.com or call 855-74-RIDGE 

or e-mail: info@RidgeLendingGroup.com

JWB’s available Florida income property:

www.jwbrealestate.com/gre

To learn more about eQRPs: text “GRE” to 307-213-3475 or:

eQRP.co

Available Central Florida new-build income properties:

www.b2rdirect.com

Best Financial Education:

GetRichEducation.com

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

www.GetRichEducation.com/Letter

Our YouTube Channel:

www.youtube.com/c/GetRichEducation

Top Properties & Providers:

GREmarketplace.com

Follow us on Instagram:

@getricheducation

Keith’s personal Instagram:

@keithweinhold

Direct download: GREepisode407_.mp3
Category:general -- posted at: 4:00am EDT

National home prices are up 275% since 1991. I break it down state-by-state for you. Slowest? Connecticut with 137%. Fastest? Utah with 599%.

Two misleading RE statistics are: real estate sales volume, home price cuts.

I tell you where I’m spending my summer.

Next, Tom Wheelwright joins us. He authored the new book, “The Win-Win Wealth Strategy”.

He tells us about the 7 investments that the government will pay you to make.

You don’t pay up to 12.3% Social Security Tax on rental income like you do with your day job.

Tax depreciation is explained.

Bonus depreciation is being gradually phased out after this year. 

Resources mentioned:

Show Notes:

www.GetRichEducation.com/406

Tom’s New Book:

“The Win-Win Wealth Strategy”

State-By-State Home Appreciation Since 1991:

https://advisor.visualcapitalist.com/growth-in-u-s-house-prices-by-state/

Get mortgage loans for investment property:

RidgeLendingGroup.com or call 855-74-RIDGE 

or e-mail: info@RidgeLendingGroup.com

JWB’s available Florida income property:

www.jwbrealestate.com/gre

To learn more about eQRPs: text “GRE” to 307-213-3475 or:

eQRP.co

Available Central Florida new-build income properties:

www.b2rdirect.com

Best Financial Education:

GetRichEducation.com

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

www.GetRichEducation.com/Letter

Our YouTube Channel:

www.youtube.com/c/GetRichEducation

Top Properties & Providers:

GREmarketplace.com

Follow us on Instagram:

@getricheducation

Keith’s personal Instagram:

@keithweinhold

Direct download: GREepisode406_.mp3
Category:general -- posted at: 4:00am EDT

Real estate funds invest in multiple properties. 

Real estate syndications often invest in just one property.

“What is the worst deal that you’ve ever done?” Ask your fund provider that question.

I’m willing to share that I invest my personal real estate fund dollars with Flip & Dani Lynn Robison of Freedom Capital Investments.

Fund pros: More passive than turnkey, stable returns. 

Fund cons: Vet your operator.

Learn more or get started at: GREmarketplace.com/funds

There are short-term funds for liquidity, and longer-term funds for higher returns.

The difference between simple and compound interest weighs in here. 

Learn what a “preferred return” is.

Fund returns of up to 10-12% are offered. Learn where your return comes from.

Fund objectives: safety, certainty, reliability, and growth. 

We’re talking about high-yield, fixed income fund.

Dani Lynn has been a part of more than 600 multifamily deals.

Learn how funds have two audit layers.

There are funds for both accredited and non-accredited investors.

Learn more or get started at: GREmarketplace.com/funds

Resources mentioned:

Show Notes:

www.GetRichEducation.com/405

Get started with real estate funds. It’s the same place I invest:

www.GREmarketplace.com/funds

Dani Lynn Robison’s team contact:

Phone | (937) 551-2282

Email | invest@freedomcapitalinvestments.com

Flip & Dani Lynn Robison’s daily podcast:

Freedom Through Passive Income

Get mortgage loans for investment property:

RidgeLendingGroup.com or call 855-74-RIDGE 

or e-mail: info@RidgeLendingGroup.com

JWB’s available Florida income property:

www.jwbrealestate.com/gre

To learn more about eQRPs: text “GRE” to 307-213-3475 or:

eQRP.co

By texting “GRE” to 307-213-3475 and opting in, you will receive periodic marketing messages from eQRP Co. Message & data rates may apply. Reply “STOP” to cancel.

Available Central Florida new-build income properties:

www.b2rdirect.com

Best Financial Education:

GetRichEducation.com

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

www.GetRichEducation.com/Letter

Our YouTube Channel:

www.youtube.com/c/GetRichEducation

Top Properties & Providers:

GREmarketplace.com

Follow us on Instagram:

@getricheducation

Keith’s personal Instagram:

@keithweinhold

Direct download: GREepisode405_.mp3
Category:general -- posted at: 4:00am EDT

Your Financial Independence Day happens when your residual income stream amount exceeds your basic monthly expenses.

Rental demand is high for three big reasons: rates are rising, stringent mortgage qualification standards, housing undersupply.  

I answer three listener questions: Should I make a big down payment? Is borrowing at lower than inflation profitable? What about prepayment penalties?

Ridge Lending Group President Caeli Ridge joins us to discuss today’s mortgage lending landscape.

Today, are ARMs beginning to make more sense than fixed-rate mortgages? We explore.

Learn about the cash-out refinance climate. Second mortgages on income properties are still limited.

Does it ever make sense to refinance to a higher mortgage interest rate? We discuss.

Caeli Ridge thinks mortgage rates will keep rising.

Resources mentioned:

Show Notes:

www.GetRichEducation.com/404

Get mortgage loans for investment property:

RidgeLendingGroup.com or call 855-74-RIDGE 

or e-mail: info@RidgeLendingGroup.com

Freddie Mac Includes On-Time Rent Payments Into Underwriting:

https://www.housingwire.com/articles/freddie-mac-to-include-on-time-rent-payments-into-underwriting/

Airbnb Enacts Permanent Party Bans:

https://www.cnbc.com/2022/06/28/airbnb-makes-its-party-ban-permanent.html

JWB’s available Florida income property:

www.jwbrealestate.com/gre

To learn more about eQRPs: text “GRE” to 307-213-3475 or:

eQRP.co

By texting “GRE” to 307-213-3475 and opting in, you will receive periodic marketing messages from eQRP Co. Message & data rates may apply. Reply “STOP” to cancel.

Make passive income with apartment and other syndications:

www.imaccredited.com

Best Financial Education:

GetRichEducation.com

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

www.GetRichEducation.com/Letter

Our YouTube Channel:

www.youtube.com/c/GetRichEducation

Top Properties & Providers:

GREmarketplace.com

Follow us on Instagram:

@getricheducation

Keith’s personal Instagram:

@keithweinhold

Partial transcript:

Welcome to GRE! I’m your host, Keith Weinhold. Happy Financial Independence Day on American Independence Day.

 

I answer some of your most burning listener questions today. 

 

Shifts in the mortgage market could now change your strategy. 

 

Does a cashout refinance to a higher mortgage rate make sense or not? 

 

Is an adjustable rate mortgage actually feasible for you now and lots more… on Get Rich Education.

_____________________

 

Hey, welcome in to GRE. From San Luis Obispo, CA to Saint Louis, Missouri and across 188 nations worldwide, you’re back in that abundant place.

 

And you’ve got to lead with an abundance mentality around here. How many places can you do that when the scarcity mentality is abundant and the abundance mentality is scarce. 

 

I’m Keith Weinhold. This is Get Rich Education. Though it’s American Independence Day… is it your financial independence day. 

 

Are you drawing closer to that day… as you add income streams in your life.

 

With 8.6% government-admitted inflation and stagnant wages and a higher cost of living… has there EVER been a more important time in your entire life to add an income stream through real estate?

 

You can make the case that this is the most important time for you to do that.

 

I am about to answer your listener questions here on July 4th. It’s also Episode 404. There’s no chance that this becomes an error 404. Some dorky humor there.

 

First…

 

Freddie Mac is going to include on-time rent payments into underwriting. Yes! This starts next week. 

 

This is a good thing for you. This incentivizes renters to make on-time payments to you if they ever want to become homeowners.

 

…and…

 

Airbnb enacts a permanent ban on parties. They & VRBO have long struggled with what to do about parties.

 

I just shared those stories with you in Friday’s newsletter. If you didn’t see them, they’re in the Show Notes of today’s episode.

 

Be sure to get our free “Don’t Quit Your Daydream” newsletter.

 

We’ve been really informing you about so much in the real estate world there. We’ve also been telling you about our webinars. I know that some of you enjoyed last week’s Texas properties webinar.

 

Stay up-to-date with our newsletter at: GetRichEducation.com/Letter

 

Now, let me tell you. Back in the year 2004, eighteen years ago. Yes, I was an active REI then. My tenants were increasingly leaving. They were vacating my property and I had to find a new renter.

 

This was increasingly happening for a few reasons:

 

#1 is that mortgage rates were falling then.

 

But secondly, and really the big reason is that anyone could qualify for a loan. Mortgage underwriting standards were so lax that nearly any human could get a loan, even if they had zero income. So… loans were too easy to get.

 

Then the third reason that my tenants seemed to be vacating is that there was ample supply - and an oversupply of properties - first-time homes - for them to move into.

 

Well, today, all THREE of those criteria are flip-flopped.

 

First, mortgage rates are rising.

 

Second, mortgage qualification standards are tough. Tougher than Kevlar.

 

And thirdly, there’s an undersupply of homes, especially these entry-level homes that make the best FTHB places.

 

That’s precisely why rental demand is sky high today, tenants are not fleeing to become homeowners, rental occupancy is close to 100% in many markets, and rents are rising multiples faster than historic norms.

 

These phenomena can move you closer to you financial independence day. 

 

I had a group of financing-themed listener questions come in recently, so I want to get to three of those before we talk more about today’s lending landscape later.

________________

 

The first question comes from Dave in Bellingham, Washington. 

 

“Keith, I thought it was good to make a big down payment on a property. That way, I’d have not only less debt, but I’d have the benefit of having a smaller mortgage payment over time.

 

This means I’d pay less interest over the life of the loan too. Can you tell me more about how FF beats DF?” 

 

That’s from Dave. 

 

Good question, Dave. Common question. In fact, there was a time in my life, before I ever owned any real estate where that same line of thinking made complete sense to me. 

 

I even thought, “If I could be mortgage-free and own a property, I’d have it made.”

 

Dave, let me answer this in a somewhat different way than I’ve answered it before for other listeners’ benefit. 


If you can borrow at a 6 or 7% mortgage interest rate, which, after tax deductions might be an effective 5% interest rate, many think that they can beat that in the market over time.

 

One probably can.

 

The riskiest thing that a lot of people do by making a big down payment is now they don’t have much liquidity. If the cash is already in the home, then that borrower might worry about not having much cash for other disruptions or expenses that come up in life.

 

The worst one could be, “What if you lose your job and your job was, say, 70 to 100% of your income?”

 

Now that cash is trapped in the home as equity… and you can better believe that today, banks aren’t going to let you access your equity if you don’t have a job.

 

The best way to keep equity separated from your home is to make sure it never goes in there.

 

The other reality too, is that the more than you borrow, the more you make use of OPM. 

 

So the great question to ask yourself, Dave, is “How big of a real estate portfolio could I ever build if I limit myself to only using my own money… and NOT other people’s money?”

 

We’re going to discuss this more later in the show today… but that should provide some sufficient context and food for thought to your question, Dave. Thanks for writing in.

 

You, the listener, can always contact us with any questions at GetRichEducation.com/Contact

________________

 

Andrew from New York state had a question through our Contact Page. 

 

Andrew’s been an avid listener for quite a while. I remember your name, Andrew. You’re a veterinarian from New York state. I hope that we can meet sometime in the future. Andrew asks:

 

“Is it a true statement to think that even in today's High "er" interest rate environment   any mortgage rate under the rate of inflation roughly 8% is a bargain??

 

Today ..I am not getting great cash flow...$100/month or break even..on new builds...but still see the upside in RE investing due to its inflationary hedge.” Alright, thanks for that Andrew.

 

With the first question, is any mortgage rate under the 8% inflation rate a bargain. Well, it could be. Many think that the real rate of inflation - the true diminished PP of the dollar is 15%. 

 

But let’s just stick with 8%. Yes, if you get a mortgage at 6 or 7% today, you are effectively being paid to borrow.

 

That is because with the money that you’ve borrowed from the bank, over time, you get to repay the bank with dollars that debase on the bank faster than THEIR interest can accrue on you. 

 

That’s how it can stealthily build wealth.

 

The risk associated with that is - besides being most attentive to your personal cash flows, Andrew - is that at some point over your loan term, there’s a good chance that inflation will duck back below mortgage interest rates.

 

We’re in this inversion now where the opposite is true. So, enjoy it while it lasts. I’d think of your interest rate being lower than inflation as a short-to-medium term tailwind.

 

Your second question was about how today, you’re not getting great cash flow when you buy a new-build rental property. It might be positive $100 or just a break even. But you still like investing in RE for the inflation hedge.

 

First, I think of RE as more of an inflation-profiting center than a mere inflation-hedging vehicle. I take you point though… and then…

 

Yeah, a lower $100 positive cash flow or less on new-builds is lower than what we’ve all been used to in recent years.

 

There’s a chance that this will widen - certainly no guarantee.

 

It like how I described a couple weeks ago that we think of the housing market in two waves. First the housing price increase wave hit hard, then there’s a trough, then later the rent increase wave hits. The trough between waves is when cash flow is lowest.

 

Though you can’t absolutely count on it, rents are increasing torridly. Andrew, I can tell that you’re a close listener just by the words and concepts that you’re thinking over in your questions. I love that. Thanks for you longtime following.

________________

 

The third question comes from JW. This question came from our YouTube Channel so I don’t know where you’re from JW. But you ask:

 

Keith, what are your views on PPPs on commercial loans? 

 

On my current 8-unit property I am pursuing, I am getting financing offers that all have PPPs.

 

OK, thanks for the question JW. I think one reason that I chose your question is because I, myself, have owned an 8-unit apartment building that had a 5-year PPP attached to it.

 

First of all, let me tell you what a PPP is. And it’s funny. I have been at RE meeting in the past and some people that have never heard of them seem incredulous that a PPP even exists.

 

A prepayment penalty is a fee that some lenders charge if you pay off all or part of your mortgage early. If you have a prepayment penalty, you would have agreed to this when you closed on your home.

 

Now, in my experience, you don’t often see these on loans for 1-4 unit properties.

 

I commonly see PPPs on 5+ unit apartment buildings and other commercial loan types.

 

The way that it often works is that your penalty is less severe as each of the five years transpires. It fades.

 

For example, you’d have a higher penalty if you pay it off in 2 years than the lower penalty would be if you pay it off in 4 years.

 

Then with a 5-year PPP, that means that your penalty disappears completely if you pay it off AFTER five years.

 

PPP loans can obviously be a poor choice if you, say, want to add value to a distressed apartment building and do a cash-out refinance in, say two years.

 

So, therefore, for long-term buy-and-hold strategies, 5-year PPPs often fit.

 

I’ve had 5-year PPPs on numerous occasions on my own apartment buildings, and I have never paid any penalty because I have only accepted those penalty conditions when I plan to hold for more than 5 years.

 

Now that you know about cases when you do and don’t want these as part of your loan, maybe you’re wondering why banks have PPPs at all.

 

Lenders charge prepayment penalties to provide a borrower with a disincentive for paying off a loan ahead of time… because that causes lenders to lose out on interest income. Lenders have to commit considerable time to evaluate a borrower and underwrite the loan in the first place.

 

That’s how PPPs work. Thanks for the question, JW.

 

Stay up-to-date with our newsletter. You can sign up free at: GetRichEducation.com/Letter

 

We also make sure that you get the 5-part video course where I’m your instructor. It’s one video on each of the 5 Ways Real Estate Pays.

 

What would it look like if I wrote a short letter about weekly… written by me… sent directly to you… that supplemented this show about real estate and personal finance trends and opportunities.

 

It can help bring you closer to your financial independence day.

 

Get it & my free video course all in one place at GetRichEducation.com/Letter

_________________

 

Yeah, concise, updated intell from Caeli, as always.

 

All these markets are constantly changing:

  • The market for housing prices
  • The market for rents
  • The market for mortgages

 

Working within them can help get you closer to your Financial Independence Day - that day that your real estate income meets or exceeds all of your basic living expenses.

 

Underwriting guidelines are staying tight, just like they have for more than 10 years now. Dodd-Frank and consumers proving that they have the ability to repay a loan has really helped with that. That’s a big reason that the mortgage delinquency rate has fallen to ALL-TIME lows.

 

In fact, that update on second mortgages on rental properties demonstrates that the market still has a pretty limited appetite for that product.

 

You might want it but it still comes with low LTVs if you can get them at all.

 

Some brighter new is that ARMs - Adjustable Rate Mortgages - are making more sense than they used to - when compared to your more typical long-term FRM.

 

There are both risks and rewards to compare there. I like that the good people over there at Ridge help you with decisions like those.

 

So many great & important shows coming up here on GRE - the return of Tax Advisor Tom Wheelwright, a 2-person housing market panel comprised of Kathy Fettke and I… and… oh geez, the return of Chris Voss - the hostage negotiator from Masterclass. 

 

Remember when I mock negotiated him for a fourplex building last year right here on the show & I lost… to perhaps the world’s top negotiator?

 

Well, here we go, Chris Voss is returning here to discuss how to negotiate in a housing market when the odds are against you. 

 

What do you think? Should I mock negotiate him again… I don’t know. That’s awfully entertaining for you but I don’t know how many losses I can take publicly like that. 

 

Big thanks to Caeli Ridge today. It’s where I go for my own income property loans. You can too, I’m happy to share that with you at RidgeLendingGroup.com

 

Until next week, I’m your host, Keith Weinhold. Happy Financial Independence Day! Though you might quit your day job, don’t quit your day dream!

Direct download: GREepisode404_.mp3
Category:general -- posted at: 4:00am EDT

“You DO care about what others think of you. That’s your reputation.” -Keith Weinhold

People care about your brand when you create value for them. Next, you must reach people.

A construction worker in London decided that he wasn’t where he was meant to be in life. He’s our guest, Steve D. Sims.

He started asking others why they were wealthy but he wasn’t.

A personal branding expert, Steve tells us why the right brand for you is the “authentic you”.

When you meet someone, ask them about themselves. They are their own favorite subject.

“A brand is what people say about you when you’ve left the room.” -Steve Sims

Brands are either solution-based or aspirational.

Every person has a brand.

Donald Trump was well-branded because he had clear slogans like “Make America Great Again” and “Build A Wall”.

The lesson? Be clear about who you are or what you stand for.

It’s OK to know what you’re “not”. For example, I didn’t know how to hire a COO for GRE and still don’t have experience managing people.

Resources mentioned:

Show Notes:

www.GetRichEducation.com/403

Steve Sims’ website:

https://www.stevedsims.com/

Get mortgage loans for investment property:

RidgeLendingGroup.com or call 877-74-RIDGE

JWB’s available Florida income property:

CashFlowAndGrowth.com

To learn more about eQRPs: text “GRE” to 307-213-3475 or:

eQRP.co

By texting “GRE” to 307-213-3475 and opting in, you will receive periodic marketing messages from eQRP Co. Message & data rates may apply. Reply “STOP” to cancel.

Make passive income with apartment and other syndications:

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GetRichEducation.com

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

www.GetRichEducation.com/Letter

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Top Properties & Providers:

GREmarketplace.com

Follow us on Instagram:

@getricheducation

Keith’s personal Instagram:

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Partial transcript:Welcome to GRE! I’m your host, Keith Weinhold. There’s so much to pack into one show today - inflation at its highest rate in over 40 years, the Fed raising interest rates the most in 28 years, rents are going up fast, then GRE’s COO Aundrea Newbern & I on our favorite REI resources. Today, on Get Rich Education.

 

_______________________

 

Welcome to GRE! I’m your host, Keith Weinhold.

 

When it comes to developing your personal brand to it’s highest potential, what are those traps you might be falling into that have prevented you from doing so. And…

 

There was once a construction worker in London and one day he realized that this just wasn’t where he was meant to be in life. 

 

He contributes to the personal brand discussion today too… on this week’s episode of Get Rich Education.

______________

 

Welcome to GRE! From Franklin, MA to Franklin, TN and across 188 nations worldwide… I’m Keith Weinhold. 

 

With more than 4 million listens, though you’re tuned into one of America’s longest-running and most listened-to real estate shows, today, it’s about how to develop your personal brand which applies most anywhere.

 

There are a few definitions of a brand. A more strict one is that a brand is an intangible marketing or business concept that helps people identify a company, product, or individual.

 

OK, I guess that’s pretty good. Another definition of a brand I’ve heard that I like is: “Your unique promise kept over time.” That’s what a brand is.

 

A big part of keeping promises is doing what you say you’re going to do. Therefore, it’s a commitment.

 

In my mind, a big part of that is keeping your appointments. 

 

If I’m going to collaborate with someone and we have a pre-determined date & time, I put that on my calendar and I would not change that commitment unless some inordinate or unusual circumstance came up.

 

That person trusted me with their time and I trusted them with my time. If someone tells me later that they’d like to re-schedule with me, well, often I don’t do it. 

 

With all the choices I have for spending my time, their wavering commitment doesn’t really reflect so well on their personal brand.

 

Also, other people would have liked to have that time with me & they couldn’t get it because I already committed it to that person that wanted to cancel or postpone.

 

People that have their act together, well-branded people, commit and show up on time.

 

I’ll give you an example of a well-branded person that keeps commitments - whether you like him or not, in my experience, that is, yep, Rich Dad, Poor Dad author Robert Kiyosaki.

 

Robert & I have done a bunch of collaborations in the past, I used to be a writer for the Rich Dad Advisors, he’s been a guest right here with us on the GRE Podcast four times.

 

Not once have we tried to re-schedule or cancel an appointment on each other. 

 

Even if we plan something a month in advance, we keep it. We don’t have to send each other reminders. It was put on our calendar at the time we made the appointment, so what more do you need?

 

And you wonder why that guy is so successful. Well, one reason could be that he keeps commitments. 

 

Now, when it comes to your personal brand - which includes your belief systems, your values, commitment levels, there’s one thing that some people need to “get over” - and I think that Hal Elrod & I touched on this here on the show 3 weeks ago.

 

It’s this myth. There are people that brashly say, “Hey, I don’t care about what other people think of me.” 

 

Oh, that’s wrong. You do too care about what other people think. Because that’s your reputation. 

 

It can be interesting to see the person that says they didn’t care about what other people think, say, have a fake social media account made up impersonating their likeness and embarrassing them.

 

You had better believe that person that said they don’t care about what other people think… frantically tries to point out that, “Hey, I don’t want you thinking that was me over there spamming you.” Someone is impersonating my account. 

 

“Oh, well didn’t you just say that you don’t care about what other people think?” See you did care… and you should. That’s your reputation.

 

What if you own a restaurant & people leave negative reviews about your business & you as a businessperson, you care.

 

DO CARE… about what others think. That’s honesty. But yeah, don’t care too much. 

 

People will care about your brand when they know that you can bring them value. When you start with creating value first, second is how are you going to reach people, and then thirdly, it’s how are you going to create income.

 

It’s value, reach, then income. 1-2-3

 

I’m reaching you right now with this show. In fact, there was a time, between 5 & 10 years ago, that even by having a show like this, one could create value, reach, and income.

 

For new entrants, those days are gone. The podcast landscape became saturated a few years ago and it’s almost impossible to get substantial reach today. 

 

For startups today, a podcast is a lot like a website was 20 years ago.

 

Neither one stands out just by virtue of having one. 

 

You can have a website just like you can have a podcast, but anymore, how would you ever get enough website visitors to make a difference or how would you attract enough podcast listeners to make a difference.

 

Even celebrities that have name brand recognition that have crossed over and started podcasts usually don’t get much traction anymore. They are drowned out in a saturated field.

 

So if you want your brand to reach people today, well, that’s a really long discussion and this isn’t a marketing show. So I’d start with just two pieces of guidance:

 

#1 - Look for that new media source that isn’t crowded today. It might be that “next” media type. For a while, people thought that it might be voice-activated media like Alexa or Siri. I don’t really know that that’s getting traction like some thought. But that’s the way to be thinking. “What’s next?”

 

Secondly, if you know of a thought leader that wants to get their message out with a podcast today, rather than starting their own show and entering a crowded field… gosh, starting your own show, you could spin your wheels with many episodes and unlike a website that doesn’t need to be constantly updated…

 

… a podcast takes regular releases, and production, advertising, sound engineering and marketing, transcription, and a support network of complimentary resources from video to social media and more.

 

Well, I’ve got a great shortcut to that… in the podcasting world that will save you a lot of time, money, and frustration.

 

If you know someone that wants to get their message out through a podcast today, the big shortcut is to be a guest on another show that already has a big following.

 

That way, you’ve outsourced all of the production and marketing and everything else to a proven channel. That can save you hundreds or thousands of hours in your life.

 

Rather than starting a podcast, be a guest on a few big name shows.

 

Now that you know how you’re going to provide value to the world, you’ve got your reach too.

 

Hey, I’ve got more thoughts like this for you on building your personal brand. Before I share those, let’s talk to today’s remarkable guest on how to build your personal brand.

___________

 

Oh, yeah, a really interesting interview with Steve Sims today.

 

One thing we discussed is that you can’t snap your fingers and instantly make yourself someone that you’re not. It’s about gradually being who you are becoming.

 

Now, here at GRE, our show keeps growing and about two years ago, I needed to make a new key hire to run the internal operations here so that I could have enough time clear to make the best content for you every week.

 

But, gosh, I really didn’t know how to make a quality hire here - like, to bring in an experienced pro.

 

Realizing I didn’t even know how to hire someone, I looked around my network of people… and I knew that Ken McElroy had employed a Hiring Manager, Jennifer, to help him and I tapped her so that Jennifer could find a COO for GRE. 

 

Jennifer & I worked on the position advertisement, she interviewed the top candidates, narrowed it down to three, and Aundrea was selected.

 

Then I got Garrett Sutton to help me write the work contract.

 

So, I had acknowledged that hiring a top pro was beyond my skillset.

 

And Aundrea is such a professional here - she has her MBA too - that when GRE added more staff later, she’s the one that does the interviewing - not me.

 

And then… continuing in this vein of, “Don’t pretend to be someone you’re not.”

 

When we make a new hire here at GRE, I don’t pretend like I have some lofty corporate experience at knowing how to run things around here.

 

When I first talk to that new hire here, I simply tell them the truth. I say something like:

 

“I found myself with a show here that a lot of people seem to like to listen to… but don’t have any experience managing people. So I really want you to feel comfortable in speaking up when you think I could be doing something better.” Yeah, I tell everyone something like that.

 

Alright, well, what did that just do when I told them this? 

 

  • First, it’s honesty.
  • It makes me more comfortable
  • It made the new hire more comfortable
  • And finally, I’m not pretending to be someone that I’m not. When I was in the working world, I didn’t climb up the corporate ladder. I didn’t get that corporate experience. Instead, I decided to leave that world behind.

 

Steve made a terrific point at the end about brand clarity - being clear on what your brand stands for - whether that’s your personal brand or your company’s brand.

 

I told you near the start of the show that commitment & respecting other people’s time is a big part of my personal brand. Certainly, attention to detail too.

 

GRE’s brand clarity is in four words: Real Estate Financial Freedom. Those four words tell you where you & I are going together & how you’re getting there too.

 

Once you’re in the GRE world and tribe, then we can get more nuanced, for example, with our strategy and brand of “FF beats DF”. And with that, you see how “RE FF” is achieved faster.

 

I sign off each show with “Don’t Quit Your Daydream” and it’s a trademark that we own here at GRE.

 

So the point is, be clear and memorable in order to have a successful brand for yourself.

 

This doesn’t have to be that well-developed and you don’t have to have terms trademarked to have a strong brand.

 

Juan, my landscaper wacks all the weeds along my fence and doesn’t leave any clippings behind. I can see that his brand was there - imprinted in my backyard.

 

Speaking of some other well-branded real estate figures, if you want to listen to Grant Cardone & I together here on the show, where we 10X your wealth together, he was with us on Episode 264.

 

Robert Kiyosaki’s latest appearance here on GRE was last year. You will find he & I together most recently on Episode 358. 

 

As far as today’s chat, you might be interested in SEEING Steve Sims & I’s chat from today other than just listening to the audio here. It might help reinforce some of these branding concept for you.

 

He’s also just a really interesting figure to see and listen to. You can do that on your YouTube Channel… which is really easy to find and remember… because we’re - I suppose - consistently-branded - ha!

 

That’s because our YouTube Channel is called “Get Rich Education”. I’d expect that video to be published there by about now.

 

Personal branding means that there is… perhaps… a better investment than leveraged income property.

 

That investment… is YOU.

 

Until next week, I’m your host, Keith Weinhold. Don’t Quit Your Daydream!

 

Direct download: GREepisode403_.mp3
Category:general -- posted at: 4:00am EDT

For many, it’s become a scary world with $5-$6 gas, soaring food prices, spiking rents, the medical system is still a mess, and wages aren’t keeping up with inflation.

Inflation is at a 40-year high of 8.6%. The Fed raised rates ¾%, the biggest jump in 28 years.

For every $1M in real estate debt that you have, you’re benefiting $86,000 each year due to your debt debasement.

Affordability has become so bad for wannabe first-time home buyers that increasingly, they’re becoming your renter.

Many project rent growth to exceed home price growth this year. Rent.com’s Rent Report shows a 26% annual rent increase nationally.

Every 1% in a mortgage rate increase decreases a buyer’s purchasing power by 12%.

GRE’s COO Aundrea Newbern, MBA joins me. We discuss our favorite RE information sources.

Aundrea expects to diversify her RE portfolio into more markets. She’s been focused on southeast Georgia.

Some RE resources we use: www.city-data.com, US Census Bureau data, CNBC.com, HousingWire.com, FRED data, the MLS, AirDNA.co, GREmarketplace.com.

When considering adding to your RE portfolio, simply talking to a Property Manager can be more valuable than the best website.

Aundrea sees a balanced market at prices $250K+, and a sellers’ market at prices below $250K in southeast Georgia.

Days On Market (DOM), Sale-To-List Price Ratio discussed.

LTRs are in high demand and low supply. STRs are saturated in many markets.

Resources mentioned:

Show Notes:

www.GetRichEducation.com/402

Rent.com’s Rent Report:

https://www.rent.com/research/average-rent-price-report/

Get mortgage loans for investment property:

RidgeLendingGroup.com or call 877-74-RIDGE

JWB’s available Florida income property:

CashFlowAndGrowth.com

To learn more about eQRPs: text “GRE” to 307-213-3475 or:

eQRP.co

By texting “GRE” to 307-213-3475 and opting in, you will receive periodic marketing messages from eQRP Co. Message & data rates may apply. Reply “STOP” to cancel.

Make passive income with apartment and other syndications:

www.imaccredited.com

Best Financial Education:

GetRichEducation.com

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

www.GetRichEducation.com/Letter

Our YouTube Channel:

www.youtube.com/c/GetRichEducation

Top Properties & Providers:

GREmarketplace.com

Follow us on Instagram:

@getricheducation

Keith’s personal Instagram:

@keithweinhold

 

Partial transcript: Welcome to GRE! I’m your host, Keith Weinhold. There’s so much to pack into one show today - inflation at its highest rate in over 40 years, the Fed raising interest rates the most in 28 years, rents are going up fast, then GRE’s COO Aundrea Newbern & I on our favorite REI resources. Today, on Get Rich Education.

 

_______________________

 

Welcome to GRE! From Auckland, NZ to Oakland, CA and across 188 nations worldwide. This is Get Rich Education. I’m your host, Keith Weinhold.

 

Before I discuss real estate, what’s happening with inflation & interest rates is so exceptional that I want to cover this first.

 

When the latest inflation reading came in at 8.6%, it dashed hopes that it's peaked. We have no evidence that it’s peaked.

 

And as I like to say, that 8.6% is just the level that the government is willing to admit to. It's really higher.

 

It's the third month in a row that it has exceeded 8%.

 

Treasury Secretary Janet "Grandma" Yellen has already warned of what she calls "unacceptable levels of inflation".

 

And Yellen looks like my late Grandma Weinhold. Yeah, they look a lot alike. One difference though, is that Grandma was not wrong about inflation. 

 

Another difference between my grandmother and Yellen is that… Janet Yellen never gave me Star Wars action figures on Christmas like my Grandma did.

 

Well, for many people, especially in the lower middle class, it's become a scary world with devastating $5-6 gas, soaring food prices and spiking rents. (I’ll get to that shortly). The medical system is still a mess. Wages are up perhaps only 5%.

 

Their quality of life is really suffering now.

 

Libertarians point out that fiat inflation is theft of one's private property. You earned a dollar. Now your prosperity has been stolen.

 

Sneaky shrinkflation is stealing from you too. Yeah, you're not imagining it, 

 

Gatorade has trimmed its 32 ounce bottles down to 28 ounces. A small box of Kleenex has shrunk from 65 tissues down to 60. 

 

Package sizes are shrinking faster than Lake Mead, all while producers charge the same price or more. That’s what shrinkflation means.

 

It's become an awful economic malady for consumers.

 

So, let’s talk about higher interest rates since that’s what can keep inflation from soaring.

 

Many interest rate types are based off of the Federal Funds Rate.

 

Now, I like to look at history to see what typically happens in like scenarios. History doesn’t tell you everything, but many people don’t look at it.

 

Rewinding three years, this rate was hiked up to 2.5% by early 2019… and the stock market was freaking out by then. Trump even demanded a rate cut. He got it and that, turned stocks around.

 

Yes, Presidents are supposed to stay independent of the Fed, but, in any case…

 

Just last week, the Fed Funds Rate was raised up to 1.75%... and the stock and crypto markets have already taken a swan dive off the high board.

 

Everyone thinks that rates are going to be raised again at the next Fed meeting next month.

 

So how do you think that equity markets are going to like that? History shows us that they don’t.

 

But see, history shows us that even when the Fed Funds Rate is raised to 10%, it can take years to quell inflation.

 

Commodities like housing, food, and energy, often excel in either inflationary times or recessionary times.

 

That’s where you want to be. Buy & own what people need, not what they want.

 

These things have a finite supply. Bringing them into existence takes "proof of work". 

 

Proof of work means that it takes real world resources to extract or produce something—like framing roof trusses, growing timber for lumber, mining gold, extracting oil, or growing wheat. 

 

If you held any of these commodities individually, you might merely hedge inflation.

 

But if you can control an entire commodity by only putting one-quarter or one-fifth of your "skin in the same", then you get to short the dollar too.

 

"Shorting" means that you're betting that something is going to fall in value—the dollar in this case.

 

Now you're creating leverage and arbitrage. You're really profiteering from inflation ehre.

 

Real estate is like a basket of commodities. It is made of: lumber and copper and glass and all kinds of commodities.

 

So, if you have $1M in real estate debt, it's now being debased at a rate of 8.6%. Great.

 

This effect alone has increased your prosperity by $86,000 this year—$86,000 this year alone, and that’s besides appreciation, income, tax benefits, and amortization.

 

Yeah, you’ve got an $86K tailwind.

 

Do you remember back in 2019 when I did the podcast episode called The Debt Decamillionaire? It was Episode 260. You might remember that episode.

 

That's when I touted the counterintuitive merits of taking out $10M in real estate debt... with the payments outsourced to tenants.

 

Now, I know that not everyone has the wherewithal to do that. But if you were able to implement that plan, it has now created an extra $860,000 of annual wealth for you.

 

Yes, as one of just five ways you’re paid.

 

If you think that sounds scary - or unconventional - it’s definitely unconventional. Because being conventional gets one nowhere.

 

So, though you might have not been able to amass that much good debt, I was ahead of the inflation, helping you get out in front of it to take advantage of it. Of course, I talked about it well before 2019 too.

 

And, no, I sure didn’t know that a pandemic was coming in 2020 and it was going to bring all this inflation this quickly… but that is how things worked out.

 

Now, if you’re uninitiated on this, if you originate $10M in loans, understand something. Your net worth didn’t just decrease by $10M on the day that you got the loan. 

 

The day that you originate the loan, what happens is that you’ve now got $10M in your asset column and $10M in your debt column.

 

Leverage amplifies the $10M in your asset column… and then your debt column erodes through both tenant-made principal paydown - and this higher inflation.

 

Maybe I’m stretching your thinking just merely by discussing 8-figure debt like that.

 

So why is someone really compelled to be a real estate investor today?

 

One big reason is that soaring inflation is going to be around for a while.

 

So last Wednesday, when the Fed raised interest rates three-quarters of 1% - their highest daily increase since 1994.

 

Understand that higher interest rates decrease demand. There's another name for substantially decreased demand. That is called a recession. I don’t know if we’ll get that far.

 

Now, capitalism is not inherently inflationary.

 

Sure, as employers' demand for labor rises, that's inflationary.

 

But as businesses compete to offer goods and services at the lowest price - which is capitalism - that's deflationary.

 

Libertarians are quick to point out that America has too much government intervention to be considered a truly capitalist economy anymore. That’s a different conversation.

 

But some have speculated that politicians are plotting another stimulus check drop on American citizens so that they can deal with inflation.

 

I really hope that they do not do that. Sheesh, this would be a policy blunder. This would be like shooting a man that's already dead.

 

This absurd approach of "printing up currency" would be to help people deal with the consequences of... "printing up currency".

 

If you think that’s preposterous, well…

 

Quebec is actually doing this. They're issuing $500 stimulus checks to help the Canadian province's residents deal with inflation.

 

Yeah, that’s really happening. 

 

Soaring gas prices aren’t just painful for summer road-trippers. Because fuel is a critical input for so many goods and services, higher costs are causing havoc across the economy in a lot of places that you wouldn’t expect it…

Aviation: Airfares in the US skyrocketed 19% in April from a month earlier, an increase that is almost exclusively driven by a jump in jet fuel prices, United CEO Scott Kirby said. Now, you might have expected that one. But get this…

Law enforcement: A sheriff’s department in Michigan instructed its deputies to cut back on visits for non-urgent calls because it had blasted through its fuel budget with months remaining until a new one kicks in. (Yeah, inflation affecting law enforcement!)

Emergency services: An ambulance crew in Pittsburgh said it was limiting its service outside of 911 calls after facing a similar budget crunch. Its fuel expense for the full year is typically $50,000, and it’s already got close to that entering June.

Landscaping: Lawnmowers and trimmers use gas to make your front yard the envy of the neighborhood. But after absorbing all of the cost increases they can, some landscapers have slapped a surcharge on customers, and others are even looking into electric mowers and propane as an alternative fuel.

In any case, a look at history tells us that we could be in for high inflation for a full decade.

 

So make financial decisions accordingly.

 

Risk assets are typically really sensitive to big moves in inflation and interest rates.

 

Major stock indices are down, down, down.

 

And cryptocurrencies are in an all-out historic meltdown. They’re more volatile than stocks, and many have lost 50%-60%+ of their value just this year. 

Crypto trading platforms have halted withdrawals

Companies cut jobs

Panicked investors dumped their holdings

The public is finally dismissing promoters' claims of "Hey, I made $50k on doodoo coin. So you can you!". You don’t really hear that lately.

 

Let's Go Brandon Coin, now worth $0.00. And “Let’s Go Brandon” coin makes Dogecoin look like some sort of respectable family heirloom.

 

I actually still think bitcoin could have some potential, but…

 

So then where to look? Where do you go for yield today?

 

Some feel that the "true rate of inflation" is 15% today. Then that's how much prosperity you lose by storing cash.

 

(I believe it's wise to hold at least 3-5% of your real estate portfolio's value in cash.)

 

One place could be oil if you think there’s still a runup to be had there. But oil has performed well so far this year. Gold still hasn’t really awakened despite inflation.

 

What you can do… is…

 

Follow the money. Big institutional buyers like American Homes 4 Rent keep plowing money into real estate, especially single-family rental homes.

 

That’s historically the place to be in times of either high inflation or a recession.

 

Though the institutional share is increasing, the overwhelming majority of homes are still bought by individuals just like you.

 

In the fourth quarter of 2021, institutional buyers only comprised 18% of home purchases. 

 

As affordability clamps down on wannabe first-time homebuyers, unfortunately, many of these fine people never make it to the closing table.

 

Every 1% in a mortgage rate increase decreases a buyer’s PP by 12%.

 

Mortgage interest rates are now 6%+ on OOs, about 7% on rentals. I believe that the only way houses are going to get more affordable anytime soon is if mortgage rates come down. That’s because home prices aren’t coming down anytime soon.

 

So what do these priced-out people do? Increasingly, they become your renter. 

 

Rent price growth is predicted to outpace home price growth this year.

 

Though some measures are lower, Rent.com's Rent Report shows an astounding 26% annual national rent increase.

 

While a lot of major markets are struggling with a streak of Fed rate hikes that could drag on longer than the final two minutes of an NBA game...

 

...for real estate investors, the rent just keeps flowing in. 

 

And here’s what it comes down to. Picture this. Like I’ve discussed before, first home prices rise, and then rents follow later.

 

Picture two waves. Say that these two waves are 18 months apart. The first wave is home prices. Today, prices are still climbing but the wave has likely crested.

 

That second wave that’s coming in now are the torrid rent price increases.

 

The trough between the two waves is where the cash flow is worst on new purchases.

 

And now the second wave - that rent increase wave - is building. 

 

That’s the ah… seafaring here in the rental housing market ocean if you will. 

 

Hey, In the past, I’ve discussed where I’ve invested and what RE types I like to own. Why don’t we hear from GRE’s own COO Aundrea Newbern, MBA about how she’s positioning her portfolio in this environment of normalizing prices & spiking rents. 

Also, she & I will discuss some of our favorite resources & websites for real estate info. That’s straight ahead. I’m Keith Weinhold. You’re listening to Episode 402 of Get Rich Education!

__________________

Yeah, great stuff from Aundrea, as always. 

We discussed markets. Of course, it’s about the submarket too. As an example, maybe you don’t feel like Erie, PA or Toledo, OH or Grand Rapids, MI are fast-growing markets. 

Actually, I think Grand Rapids, for one, is growing, but the point is, that even if a metro has a stable population but it’s, say, medical district is booming - like a lot of cities’ medical districts are… you may very well be better off in an OK metro with a booming medical SUBmarket than you are elsewhere.

It’s often about that SUBmarket within a metro that really matters to you.

There aren’t too many places that you can invest & get yield today. But high inflation is the motivator to do so. 

Create one login, one time, it’s free & get access to all of our provider at GREmarketplace.com

For everyone here… COO Aundrea Newbern, MBA, Content Manager Matthew Blunt, Producer - me &, Sound Engineer, Investment Coach Naresh Vissa, Website Marvin Diaz Jr, Advertising Jake Madoff, I’m your host Keith Weinhold. 

Don’t Quit Your Daydream!

 

 

Direct download: GREepisode402_.mp3
Category:general -- posted at: 4:00am EDT

The housing market has calmed, but it’s still strong.

The homeownership rate of 65% is poised to fall these next few years. People must live somewhere. This should make for more renters.

Mortgage delinquencies have fallen for seven straight quarters. The forbearance program kept people in their homes.

“The Great Reshuffling” describes the US housing market since 2020.

Inflation flips money upside-down. Focus on prudent borrowing, not saving.

International Man Doug Casey joins us. He calls for a “Greater Depression” ahead.

For consumers, the costs of energy, food, and housing have become crippling. 

Doug thinks that the decline of world economies will continue. World cities have more people living on the streets. 

He thinks that the Fed can’t hike rates very high. It will result in too many debt defaults. Then how will inflation be curbed?

Doug thinks you should save, but don’t save in dollars.

Are price controls coming? That’s when the government tells companies that there’s a ceiling on the price they can charge for their goods and services.

We discuss what you can do to prevent being wiped out in a crisis.

I discuss living well vs. austerity.

Resources mentioned:

Show Notes:

www.GetRichEducation.com/401

More on Doug Casey:

https://internationalman.com/

Current US debt level is over $30T:

www.usdebtclock.org

Get mortgage loans for investment property:

RidgeLendingGroup.com or call 877-74-RIDGE

JWB’s available Florida income property:

CashFlowAndGrowth.com

To learn more about eQRPs: text “GRE” to 307-213-3475 or:

eQRP.co

By texting “GRE” to 307-213-3475 and opting in, you will receive periodic marketing messages from eQRP Co. Message & data rates may apply. Reply “STOP” to cancel.

Make passive income with apartment and other syndications:

www.imaccredited.com

Best Financial Education:

GetRichEducation.com

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

www.GetRichEducation.com/Letter

Our YouTube Channel:

www.youtube.com/c/GetRichEducation

Top Properties & Providers:

GREmarketplace.com

Follow us on Instagram:

@getricheducation

Keith’s personal Instagram:

@keithweinhold

 

Partial transcript:

 

Welcome to GRE! I’m your host, Keith Weinhold. While much of America & the world keeps getting crushed by inflation, you’re profiting from it.

 

I provide you with a housing market update… then, as higher inflation reduces the quality of life for so many WORLD residents, today’s guest gives both us a global and national perspective on the prospects for a DEpression, today on Get Rich Education.  

__________________

 

Welcome to GRE! From NYC’s Brooklyn Bridge to Bainbridge Island, WA and across 188 nations worldwide, I’m Keith Weinhold. This is GRE!

 

And it’s Episode 401. Now, no, it’s definitely not episode 401(k). No life deferral plans here! Uh, oh excuse me… they’e called… uh, tax deferral plans. Though life-deferral plans would be a more apropos moniker.

 

I’m grateful that you’re here for another wealth-building week.

 

Now… asking an angry spouse to calm down is not exactly a tactic that's... effective.

 

By now, Jerome Powell has been effective at raising interest rates to help America's housing market calm down.

 

Though mortgage rates have inched lower in recent weeks, they're still 2% higher now than they were a year ago today.

 

In fact, the rate rise from early March to early May was the swiftest that I've seen in my entire life.

 

Rates scaled a wall. Clearly, this impacts affordability

 

The rate of property sales is a little lower now… off its peak.

 

It's getting more Darwinian out there. The NAR estimates that 15% of wannabe first-time homebuyers will be priced out of the market this year. 

 

People have to live somewhere. If they can't own, they'll have to rent... or keep living in their parents' basement… that’s an option for some people too.

 

Right now, the homeownership rate is 65%... and that is pretty close to the average of the past few American generations.

 

I’ll tell you… that 65% homeownership rate is poised to fall faster than dogecoin. 

 

Well, what this likely falling home ownership rate means is that the renter pool should swell, putting more upward pressure on rents.

 

That’s what happens. If home ownership goes from 65% to 60%, then America’s renter proportion basically goes from 35% up to 40%.

 

You know how I've talked about how home prices rise first, then rent increases lag behind? Well, this is it. This is the place and time where rents catch up.

 

With housing prices, are we set up for a recipe of "housing crash" or is it more like "housing calm"?

 

Looking at purchase applications, demand is probably past its peak. But housing demand still drastically exceeds supply

 

Normal housing supply is about 1.5 million units. We've come up from a jaw-dropping paucity of 376,000 homes back in February. And it's still just 516,000 now (chart).

 

We're only up a tad from famine-like levels.

 

America still needs about 300% more inventory just to bring the market back into supply-demand balance.

 

Housing supply is inelastic; it cannot be increased quickly. It'll take several years to reach balance.

 

How else can we measure this balance? One way is with days on market (DOM).

 

Pre-pandemic it was 45 days. Now, despite higher interest rates, it's under 30 days & under 20 days in a lot of markets.

 

Mortgage delinquencies have fallen for seven straight quarters. The forbearance program worked. One can critique its morality. But it kept people from losing their homes.

 

As the market entropy - with wild bidding wars & a “free for all”, couldn't last forever - nor was it good that that condition persist - it's still a strong housing market. 

 

Expect a gradual return to a calmer, more normalized condition. Yes, “calmer” market conditions are poised to emerge here.

 

Hey, pretty soon, you might not have to offer more than the list price for a property.

 

Expect less competition from all-cash buyers. Sheesh, “all-cash buyers”. What are those zero-leverage psychos doing anyway?

 

Hey, property inspections are coming back. Imagine that you can ask a seller to fix some things for you and not fear that they'll reject your offer.

 

So what is the bottom line with today’s housing market?

 

Rents should keep rising faster than historic norms.

 

Supply is so low that housing price crash prospects are near zero, probably even through 2023.

 

20%+ annual price increases still exist in many markets. Nationally, this is calming now.

 

By the end of the year, home price appreciation should still be higher than the historic norm of 5%.

 

And you know…

 

Back on December 1st of last year, I published GRE's 2022 National Median Housing Price Forecast and I also announced it on this show at that time that I expected a 9% to 10% rate of home price appreciation this year.

 

We’re nearly at mid-year here, and I still like how that forecast looks.

 

In America, you’ve heard of the Great Resignation or the Great Migration but I think that the term that best encapsulates what’s gone on in American housing since the start of this decade is “The Great Reshuffling”.

 

Working from home was a significant driver of this "Great Reshuffling" and accounted for more than half of the steep increases in home prices seen during the pandemic. That’s what new research has found by the Nat’l Bureau Of Economic Research.

 

By now, you’ve got more Americans that are shuffled into place. That found that long-term home with the realities of their new life.

 

That’s the bottom line. There is a Great Reshuffling, and now people are settling into place so we’re kind of seeing this welcome “calming” of the housing market as we move toward eventually settling into more normal conditions.

 

Well, hey. Thank you for the “Instant Reaction” from so many of you after last week’s milestone Episode 400 where Hal Elrod & I discuss how to improve relationships and be a person of value.

 

Greg from the United States remarked: “Two of my favorite people were together in one episode. I’ve been following Keith since the beginning of his podcast and journey… and I love “The Miracle Morning” and practice it habitually.

 

Roxana from Romania said, This was just phenomenal! A terrific talk that I listened to three times already. Thank you for all the good that you do through GRE! Congratulations for 400 episodes.”

 

I appreciate the remarks there, thanks.

 

You know, I want to hear from you, the listener. 

 

If you’ve been following along here and you’ve acted by putting income property into your portfolio and you’re now the beneficiary of inflation & you’re profiting from this inflation… with the Inflation Triple Crown… from time-to-time, we like to have a listener on the show.

 

If that interests you, reach out to us through: GetRichEducation.com/Contact

 

There’s no guarantee that we can get you on the show here. We have 50x as many requests to appear on the show as available slots.

 

But if you’ve had your life impacted, we want to hear from you. You don’t need to be a big name. 

 

In fact, if you’re just sort of salary or wage-earning person that’s had their life impacted by taking GRE principles and putting them into action, I want to hear from you.

 

Again, get started there at: GetRichEducation.com/Contact

 

Inflation flips money upside-down.

 

Though inflation isn’t a new story, most experts believe that inflation is going to stay elevated for a longer period of time here.

 

I think that some people - everyday people - let themselves be coerced by inflation. So they cut back on grocery spending & complain about car gasoline prices & lament that their 401(k) is plummeting & live small and maybe even live miserable.

 

Then there’s this increasingly popular narrative that seems to enforce that - you’ll do with less & you’ll be happy about it. 

 

And you hear more about buzzy terms, like, well “Reducing your standard of living is what “sustainable” looks like. Don’t you want to live sustainably?”

 

And people will try to conserve gasoline consumption by biking in the rain and having a muddy streak up their back.

 

Now, all things equal. I think that doing this for the environment can be good. That’s fine.

 

Rather than sustainability, some try to mask the quality of life degradation (from inflation)... justifying it with… well, I’m practicing “minimalism”. 

 

Minimalism. Yeah, I don’t need to go on vacations. Translation = I’m too fearful of my financial security to even get out and see the very world that I live in.

 

Whoever said that less is more never had more… and why have more when you can “have it all”? I kid a little bit here…

 

But… if you keep your quality of life because you invested in real assets with good debt… then go ahead and recycle some more consumable items in your household if you want to help the environment.

 

You don’t get to recycle your life. You’ve only got one of those… at least here on this earth.

 

Today’s guest believes that the prospect of a Greater Depression lies ahead. Let’s explore this together, today.

_________________

 

Yeah, it’s good to get the bigger-picture perspective sometimes.

 

Doug feels that future RE price increases could be in question. Well, even if appreciation completely stopped in the future, today you can still lock in low mortgage interest rates & rent that property to others… with persistently high inflation debasing your debt all along.

 

I brought up price controls in our chat today, which is when the government steps in & says something like, no, gas station, you absolutely cannot charge more than $6 per gallon for gasoline, or no, leaf lettuce grower, you cannot charge more than $4 for a one pound bunch of leaf lettuce. 

 

That ceiling - that price control - has often led to disastrous consequences for economies.

 

Prices often got high in the first place because there’s a relative scarcity of those goods.

 

Then if you put a price control on, say, leaf lettuce, then producers are less incentivized to produce. They won’t produce at a loss. 

 

When producers stop producing, then there’s even less reason for anyone to produce the item, making it more scarce, making your consumer choices more narrow & making your life worse.

 

Price controls can turn out to be a form of austerity. 

 

Then there’s more direct austerity - which is analogous to saying that you cannot run your air conditioner below 80 degrees in order to conserve electricity. 

 

Well, that DIRECT austerity measure also reduces your quality of life… and it’s politically unpopular. A President doesn’t want to institute a direct austerity measure like electricity conservation.

 

So a price control has more political expediency than austerity but it can have the same drastic result - reducing your consumer choice and quality of life.

 

If you picked up on what Doug was saying, he said that you can save. But don’t save in dollars. Saving in dollars guarantees a diminishment of your purchasing power.

 

My take is that saving in dollars guarantees a loss in you & your family’s standard of living. So the best way to avoid a “Greater Depression” at home, is to be vigilant that…

 

Inflation flips money upside-down. Get out of dollars. Get into real assets & debt. 

 

We’ve built a resource here to help you do exactly that. Get out of dollars, get into real assets & good debt at GREmarketplace.com

 

You’ve got the best markets & proven providers of income property. Create one login one time and connect with providers right there at GREmarketplace.com

 

Until next week, I’m your host, Keith Weinhold. DQYD!



Direct download: GREepisode401_.mp3
Category:general -- posted at: 4:00am EDT

You often relate to other people when you show yourself as vulnerable and fallible. In many contexts, this is even better than acting professionally.

Today’s guest, “Miracle Morning” author Hal Elrod, tells us that people spend too much effort trying to impress others.

When you give the most, it’s liberating.

“You SHOULD care about what others think of you. That’s your reputation.” -Keith Weinhold

Once, Hal e-mailed friends, ex-girlfriends and colleagues to seek criticism about himself. That feedback hurt.

Everyone wants change, but no one wants to change.

Generosity, selflessness, and contribution foster meaningful relationships.

I share that viewers were recently critical of my YouTube video. Hal admits that he believes that he’s not a great listener.

Hal strives to add value to every single person that he meets.

Aundrea Newbern, GRE Operations Lead, joins us for milestone Episode 400. 

Resources mentioned:

Show Notes:

www.GetRichEducation.com/400

Hal Elrod’s books and movie:

www.MiracleMorning.com

Hal’s friend John Ruhlin’s book “Giftology”:

https://www.amazon.com/Giftology-Increase-Referrals-Strengthen-Retention/dp/1732095604

Get mortgage loans for investment property:

RidgeLendingGroup.com or call 877-74-RIDGE

JWB’s available Florida income property:

CashFlowAndGrowth.com

To learn more about eQRPs: text “GRE” to 307-213-3475 or:

eQRP.co

By texting “GRE” to 307-213-3475 and opting in, you will receive periodic marketing messages from eQRP Co. Message & data rates may apply. Reply “STOP” to cancel.

Make passive income with apartment and other syndications:

www.imaccredited.com

Best Financial Education:

GetRichEducation.com

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

www.GetRichEducation.com/Letter

Our YouTube Channel:

www.youtube.com/c/GetRichEducation

Top Properties & Providers:

GREmarketplace.com

Follow us on Instagram:

@getricheducation

Keith’s personal Instagram:

@keithweinhold

 

Partial transcript:

Welcome to GRE! I’m your host, Keith Weinhold. Being a person of value and building lasting relationships often comes down to self disinterest, empathy, and connection. You’re going to build not just your wealth mindset, but your skillset.

 

It’s milestone Episode 400, today, on Get Rich Education!

 

Welcome to GRE! From Cherry Hill, NJ to Cherry Springs Dark Skies Park, PA and across 188 nations worldwide, you’re listening to one of America’s longest-running and most-listened to shows on real estate investing. 

 

That’s our major so to speak… with minors in economics and wealth mindset. I’m your host, Keith Weinhold. You probably know that after 400 episodes. 

 

Today’s guest doesn’t often do podcast conversations like this. But GRE’s Operations Lead, Aundrea introduced me to “Miracle Morning” author Hal Elrod last year. 

 

So Hal is standing by, and then, a bonus, as Aundrea joins me near the end of the show today as well.

 

Yeah, so here on milestone Episode 400, there aren’t any balloons falling out of the sky or anything. It’s an opportunity to expand your thoughts & mindset & skillset in a different direction that should benefit you both within real estate investing & your broader life outside of it - from relationships with your real estate agent to your spouse.

 

In human relations, more than ever, people relate more to you as a vulnerable and even fallible person than they do as one that acts strictly like a professional in a lot of circumstances.

 

The best way to show others in a business relationship (that you don’t know very well) that you’re a real human being & that loosens up both of you & make you laugh is when you go out of your way to point out that when you left home this morning… you’ve got mismatched socks on… and you make some joke about it… something innocuous yet relatable like that.

 

Then there’s handling ego and criticism in a way that makes you endearing and empathetic. 

 

And by the way, the definition of empathy is “the ability to understand and share the feelings of another person.”

 

Now, we get overwhelmingly positive feedback and comments about the show here… and I am grateful to you for that, whether it’s through Apple Podcasts reviews, or where you can always reach out if you’ve got a question or concern or suggestion at GetRichEducation.com/Contact… or increasingly, we get more & more comments from you on our Get Rich Education YouTube Channel.

 

There is a rather robust comments section there…

 

… and there’s one popular video that we have over there. It has more than 100,000 views and a lot of “Likes” and “Comments”. And I was rather criticized for how I handled this video - it was an interview. 

 

Now, it was the type of video that crossed over, it didn’t bring in our usual real estate investor crowd. It was kind of a hybrid crowd of geography & real estate.

 

And, again, we get overwhelmingly positive feedback here. But the nice remarks aren’t where you get the lessons, so… I got dozens of critical comments on this video… and these commenters were clearly critical of the way that I handled the interview. It wasn’t the guest.

 

Comments were rather disparate. Some said that I brought no value to that interview - I was the host with a fairly prominent guest. Others said that I talked too much, some said I talked too little, it just seemed like I couldn’t do anything right with that crowd.

 

Now, one way that I could have handled it is set a policy here that any negative comments have to be deleted. We could have just deleted them all.

 

Well, I don’t want to do that. You can disagree. In fact, some say that a disagreement is actually the start of a great conversation.

 

We could go in there & reply and tell the commenter that they’re being dumb or say something else disparaging.

 

Here’s how I handled it once I learned about this. I went into the YouTube comments myself, read a bunch of the criticism, and made individual responses to a bunch of them. My response was something like:

 

Hey, thanks for the feedback. Others seem to take exception to this material too. It is probably in my best interest to read all of these comments, see what I can learn from this, and I’ve got to do better next time. I have clearly disappointed a lot of people.

 

That was my response. Something like that.

 

Well, what did that do… it appeared to engender… empathy, really. Some of the detracting commenters then came back to me & said, “Aw, you know, that wasn’t so bad. I don’t think there’s much that you need to change. I still learned a lot from your video.”

 

See, when I showed the world that I’m listening and that I’m a fallible human being, just like we all are, sometimes it makes the critic come back and sort of repent or even reconsider.  

 

Next week, here on the show, “International Man” Doug Casey & I are going to discuss economics and what he thinks the prospects of entering what he calls “The Greater Depression” are.

 

Today, Hal Elrod & I on how you can be a person of value and build meaningful relationships…

Direct download: GREepisode400_.mp3
Category:general -- posted at: 4:00am EDT

Have you ever met anyone that created wealth with stocks? I haven’t. Why not? 

Inflation, emotion, taxes, fees and volatility are the reasons. I break this down.

The Rule of 72 is what traditional advisers cite as a wealth-builder. I describe why this does not work.

Learn why returns from stock and mutual funds are often less than zero.

What really creates wealth? Leverage.

Learn trade-offs between long-term rentals and short-term rentals.

Zach Lemaster joins us. A licensed optometrist and captain for the US Air Force, he’s become financially-free through real estate. 

We discuss the pros and cons of owning “Build-To-Rent” new construction income properties. It takes patience during the build process.

Find Build-To-Rent income properties by e-mailing GRE’s Investment Coach:

naresh@getricheducation.com

Resources mentioned:

Show Notes:

www.GetRichEducation.com/399

Get income properties by e-mailing GRE’s Investment Coach:

naresh@getricheducation.com

When I interviewed the 401(k) inventor:

https://www.getricheducation.com/episode/197-inventor-of-401k-ted-benna-joins-us/

Get mortgage loans for investment property:

RidgeLendingGroup.com or call 877-74-RIDGE

JWB’s available Florida income property:

CashFlowAndGrowth.com

To learn more about eQRPs: text “GRE” to 307-213-3475 or:

eQRP.co

By texting “GRE” to 307-213-3475 and opting in, you will receive periodic marketing messages from eQRP Co. Message & data rates may apply. Reply “STOP” to cancel.

Make passive income with apartment and other syndications:

www.imaccredited.com

Best Financial Education:

GetRichEducation.com

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

www.GetRichEducation.com/Letter

Our YouTube Channel:

www.youtube.com/c/GetRichEducation

Top Properties & Providers:

GREmarketplace.com

Follow us on Instagram:

@getricheducation

Keith’s personal Instagram:

@keithweinhold

Partial transcript:

 

Welcome to GRE! Why Don’t Stocks Create Wealth? After answering that, learn about some tradeoffs between LTRs and STRs, and the pros & cons of getting a construction loan and new-build rental properties. Today, on Get Rich Education.

____________________

 

Welcome to GRE! From Hialeah, FL to Haleakala, HI and across 188 nations worldwide - that’s almost all of them - I’m Keith Weinhold. This is Get Rich Education.

 

I find it interesting that there are still smart people out there who think that stocks create wealth.

 

Everyday people could create wealth just by investing in stocks or mutual funds or ETFs?

 

I’ll tell ya. I have never met anyone in my entire life that has become wealthy from investing in these vehicles.

 

Now, that’s something that shouldn’t offend stock adherents. That has been my personal experience. 

 

Just asking around here at GRE a bit, I found that our Content Manager, Matthew… he said that he once knew just one person that did get wealthy with stocks… and that is because that person’s company IPO’ed.

 

OK, well that’s worth knowing. But as for everyday investors, what one might call a retail investor that buys and owns Apple stock or Amazon stock or bought the S&P 500 Index fund from a big mutual fund company… I mean… do you know anyone that ever created wealth from stocks? Or do you even know anyone that ever knew someone that created wealth with stocks.

 

I'm talking about creating wealth. For example, someone that started at a level of either "just getting by" or starting at a level of "middle class" and then transitioned to "wealthy", simply through shrewd and savvy stock investing.

 

I think a lot of people invest in stocks just because that’s what the herd does.

 

But they never ask themselves at all… "Have I actually met anyone that's ever created wealth from stocks?"

 

And if you run with the herd, you don’t get ahead.

 

So why is this? How come virtually no one gets wealthy with stocks?

 

Well, look. We all learn and understand the world through different lenses. I'm about to share the thought paradigm that shifted my own personal journey… and why I have not personally - or through an LLC - or in any way, owned any stock, or mutual fund, or ETF since the year 2014.

 

Right now, major stock indices are flirting with bear market territory. This means a value loss of 20% from a recent peak. 

 

Recently, the Dow Jones posted its eighth straight weekly loss. That's its longest weekly losing streak since 1923.

 

Could we say that misery loves companies? Big Tech has shrunk to Medium Tech. Even staid reliables like Apple, Target, and Walmart are tanking.  

 

Other than a one-month virus "flash crash" in March of 2020, many Millennials and Gen Zers have zero experience with a sustained bear market.  

 

None have occurred for thirteen years, which is an unusually long time frame.

 

Perhaps these investors will "sell low"; maybe they'll stay the course.

 

Now, investing in the stock market is so common - and so herdlike - that if you’re talking in a general conversation and say: “the market” - people just assume that you mean the stock market.

 

Well, shouldn’t “the market” be creating wealth for people. 

 

After all, the S&P 500 has averaged a 10% annual return over time. In order to emphasize compounded returns, something that traditional, old school advisers often cite is "The Rule of 72".

 

You've probably heard of it.

 

What you do is take the number 72, divide it by your annual percent return (10), and that's how many years it takes your money to double. 

 

Therefore, an S&P 500 investor should double their money every 7.2 years. Well, that sounds pretty good to most people..

 

Then over the decades, several doublings should ensure a fantastic retirement and perhaps even a taste of wealth.

 

But why doesn't it?

 

Why doesn’t it provide a fantastic retirement most times?

And why doesn’t it put people on that wealthy echelon… ever? 

 

This is due to five chief drags—inflation, emotion, taxes, fees, and volatility. I’ve glossed over that before. But lets see how this all negates what so many investors think is some kind of good return.  

 

Let's subtract each one from this 10% unadjusted stock return.

 

Inflation

Many experts agree that the CPI, currently 8%+, understates the true rate of inflation. It could be 15% now.

 

But let’s just say that long-term, true inflation averages 5%.

 

Yes, you could make the case that it’s more. But let’s just use 5% inflation. Well then...

 

…your long-term 10% stock return minus 5% inflation = 5% inflation-adjusted return.

 

Emotion

Everyone knows you're supposed to "buy low" and "sell high". But many do the opposite.

 

Why?

 

One has difficulty buying low because prices have often fallen for a long period of time before the dip. The predominant emotion is discouragement.

 

When stock prices have gone down, down, down, like they have this year, so many people get emotional and sell low… and they justify that by saying… I’m sick of losing money… and if I sell, I guarantee that I’ll stop losing money. So many sell low.

 

But on the flip side, why isn't everyone selling high? It's because prices have grown. It's hard to sell out of upward momentum. Up, up, up, up, up, friends are making money. You’ve got FOMO. This emotion is euphoria. This makes people buy - maybe not at the peak - buy they often buy higher that what they sold for.

 

But despite all this, most people believe that they're above-average investors—despite the statistical impossibility. This effect is called illusory superiority.

 

It's like how 7 out of 10 people believe that they are above-average drivers.

 

People often sell lower & buy higher.

 

We'll just say this takes one's 5% inflation-adjusted stock return down to 4%. That's being kind.

 

Taxes & Fees

Long-term capital gains taxes start at 15%. The highest ordinary income tax rate is 37%, which is the short-term capital gains tax equivalent.

 

Those percentages are what get taken out of your profit - that’s what eats into the entire 10% return that we started out with here.

 

Even if your funds are sheltered in a 401(k) or many retirement account types, yes, you could get tax-deferred growth. But you must begin paying taxes in retirement.

 

Fees are something that vary quite widely.

 

So… an S&P 500 investor's return adjusted for: inflation, emotion, taxes, and fees is often below 2%. Maybe far below 2%.

 

We're not done.

 

Volatility

So many people miss this.

 

The Rule of 72 and other projections are based on a fixed annual rate of interest.

 

It's called the compound annual growth rate (CAGR).

 

Our example… with this Rule Of 72 assumed a smooth, exact 10% return every single year.

 

This is irresponsibly quixotic. The real world doesn't work this way.

 

Let's say that a price falls 20%—which again is a bear market. Now, you must gain 25% to get back to "even". That's just math.

 

Now, if it falls 40%, it must gain 66.7% just to return to sea level.

 

Using a smoothed CAGR diminishes the damaging effect of return volatility.

 

So let's take our 2% return that's already been adjusted for: inflation, emotion, taxes, fees. Now subtract out this volatility.

 

And now, you can see why real rates of return are often less than 0% for stock, mutual fund, and ETF investors. Maybe they’re minus 3%. Maybe they’re minus 12%.

 

Real stock returns often crumble faster than a Nature Valley granola bar. They're not good for you either—full of sugar and canola oil.

 

Note that I even used what many consider "good times" in my example—where we started with a 10% unadjusted return.

 

This is an audio format here on GRE Podcast Episode #399 so my analysis wasn't deeply technical nor replete with formulas for pinpoint accuracy.

 

You might remember when we had Garrett Gunderson here on the show a few times. He really goes deep on how stock & mutual fund investors typically lose prosperity year-after-year and Garrett thinks that I’m being kind when I say that a stock investor’s real return is “0”.

 

It helps you begin to understand why you rarely—if ever—met anyone that acquired wealth with these vehicles.

 

About ten years ago, while working at the state Department of Transportation in an 8' x 10' blue cubicle, I began to realize some things:

  • Investing in retirement plans makes me safe and normal. I don't want a life that's safe and normal. That’s not extraordinary at all.
  • Every dollar invested in stocks and mutual funds is a dollar that cannot leverage other people's money.
  • Retirement plans provide zero income until I'm old.
  • I won't get ahead by following the herd.

Later, I interviewed the actual man that invented the 401(k) plan, Ted Benna.

 

Benna told me directly that the plans don't serve people the way they were intended. This helped complete my catharsis.

 

And my interview with Ted Benna is recorded. You might remember that episode. That was GRE Podcast Episode 197… if you haven’t heard it. 

 

Yeah, the guy that actually invented the 401(k) in the late 1970s. That’s here on Episode 197.

 

So, now you understand much of why I haven't owned any stock, mutual fund, or ETF-based investment at all since 2014.

 

This show is called “Get Rich Education”. So I could talk about anything related to wealth-building and stay on-point. 

 

But now you understand why I don’t discuss stocks. 

 

Real estate has some drags too. For example, investors often underestimate their maintenance and repair costs.

 

Ultimately, the fact that Real Estate Pays 5 Ways™ is why it's superior. It's how anything less than a 20% to 25% fully-adjusted rate of return is disappointing (learn more). 

 

Because real estate is an illiquid asset, this acts as a healthy barrier against "panic" buying or selling. Illiquidity diminishes the deleterious effects of emotion and volatility.

 

I do know investors who have created financial freedom through real estate, a lot of them, and I'm one.

 

If I can distill it down into one word for you, the short story about why I've met countless people that have graduated from middle class to wealthy through real estate is leverage.

 

Some of this is natural bias because I hang out in real estate circles, so I just tend to meet more of these people.

 

To stock investors, leverage is only available to more sophisticated types. Even then, it often comes with margin call risk. It's in a more limited measure than its wide availability in real estate.

 

Bear markets… like we have right now in stocks make people re-evaluate things.

 

To a younger investor that's potentially experiencing their first sustained stock bear market now, it's important to understand that...

 

...generally, stocks are not a game designed to build wealth for everyday people anyway

 

Times like these make people revert to fundamentals.

 

Ultimately, your success as an investor hinges upon your ability to provide others with value.

Be a person of value in the world.

 

There have been few times in modern history when owning real estate demonstrates more intrinsic value than it does today.

 

You're providing others with what has increased in usefulness and is historically scarce in supply… at the same time.

 

Wealth comes down to your ability to be valuable.

 

When it comes to residential real estate, there are so many ways that we can segment it. Later on today, we’ll discuss new-build properties vs. existing properties and what’s going on in those markets today.

 

We can also parse the space with LTRs vs. STRs.

 

When we define that, of course, as the name would allude to, it is based on the duration of resident stay.

 

Depending on the jurisdiction and more, a rental period of under 30 days could be considered a STR (some people refer to these as AirBNBs or VRBOs)… or even up to lease periods of less than 6 months could be considered STR.

 

LTRs have more predictable long-term income… because a tenant often signs on for a lease period of one year or more… and LTRs are also more recession-resilient.

 

STRs have lower occupancy - but because the daily rate is so much higher, they can be more profitable than LTRs.

 

When you look at any investment, it’s so fundamental to understand who you serve. Back to my point about stocks, it helps you understand how you can be a person of value.

 

In LTRs, you serve families, roommates, and everyday mom & pops.

 

Until just five years ago, STRs principally served two groups of people -  Vacationers & business travelers. 

With what happened in the world starting in 2020 with the virus, the STR community was concerned that the business traveler would go away & not come back.

 

But it didn’t seem to matter, because increasingly, over the last 5+ year, you have more & more digital nomads and WFA-types that rent STRs.

 

LTRs - Midwest & South, away from city center

STR Location - resorts, beach communities, ski resorts

 

HOA limits are something that you have more of with STRs.

    STR lodging or rental tax to the resident, you also get to charge the resident with the cleaning fee

 

Property Mgmt. costs tend to be 8-10% of each month’s for the owner of LTRs.

For STRs, you’ll often pay 20% or more since there are more resident turns & more advertising & listings to manage. 

 

When it comes to financing, you’ll often find LTRs to have more availability than STRs. This is huge… since leverage is what really creates wealth. 




Damages: STRs tenants pay upfront and usually place a CC on file to cover any damages. So there is some more protection that way.

 

One great piece of REI guidance is that the best STRs are the property types where if that market dried up, you could fall back onto them and use that same property as a viable LTRs.

 

To summarize what you’ve learned so far today…

 

  • The definition of a bear market is when a market has lost 20% or more of its value from a recent high.

 

  • Stocks don’t create wealth due to inflation, emotion, taxes, fees, and volatility. A lot of people miss that until it’s too late and it’s nearly retirement time - or when they thought they could retire.

 

  • LTRs and STRs have a lot of trade-offs. LTRs are easier to finance and have more recession resistance. STRs can provide more income when its dialed in just right. LTRs have the longer track record.

 

Coming up, a guest & I are going to discuss today’s opportunity on brand new construction rental property. 

 

That’s straight ahead. I’m Keith Weinhold. This is Get Rich Education.

______________________

 

Oh, yeah. Some good content from our guest on the pros and cons of using a construction loan with these new-build rental properties. You sure don’t have to go that route if you don’t want to.

 

For this batch of properties, and it is an ongoing batch of constantly refreshing properties, if you want to get to the front of the line, go ahead and e-mail our investment coach Naresh.

 

You not only get access to available properties - SFHs up to four-plex & sometimes larger, existing build & new-build, some properties conducive to STRs at times - though most are LTRs… some really inexpensive properties, at times less than $150K - they would tend to be existing, renovated properties, not new ones. 

 

For access to all those property types and free coaching, contact Naresh here.

 

You can do that at: naresh@getricheducation.com

 

Coming up here on the show… next week, for milestone episode 400 - it is Miracle Morning author Hal Elrod & I, discussing investor mindset and relationship-building in real estate. Yes, it look longer than I expected to get Hal & I together at the same time. That finally happens next week. Our Operations Lead here at GRE, Aundrea, is expected to be here with you & I for that show next week too.

 

The week after Hal Elrod, the “International Man”, Doug Casey joins us. Last time he was here, we discussed ideals like liberty & freedom. This time, it’s going to be about economics & it’s usually pretty gloomy commentary with Doug… but he keeps it real.

 

Then, down the road, Rich Dad Tax Advisor Tom Wheelwright is back on the show with us yet again to help you cut your taxes toward zero.

 

So with Hal Elrod, Doug Casey, and Tom Wheelwright coming up… I’d say that one inspires you, one depresses you, and one informs you. 

 

Hal being the inspiration

Doug being the source of the depression - he knows that I kid, I was joking with Doug Casey about that last time

And then, Tom Wheelwright being informative with… seemingly… some new tax plan that he has to tell you about.

 

Then after that, negotiation expert Chris Voss returns to the show. You might have seen his masterclass course. 

 

So… GRE is so stacked with great shows in the near future here.

 

In inflationary times, there is no better place to invest than in real estate.

 

I mean, even if you bought a property with no loan & with no tenant in it, real estate would be an inflation hedge just based on that alone… just based on it’s capital price tracking inflation.

 

But then you get the leverage where you can 4X or 5X inflation… while also having your debt debased… while also having your cash flow OUTPACE inflation since your biggest expense - the mortgage - stays fixed.

 

This is just one of so many reasons why real estate is what’s made more ordinary people wealthy than anything else. 

 

I really encourage you to get started… not only do we have this new coaching service steeped in GRE principles… but it’s also free… and we also have available properties.

 

I encourage you to reach out to our friendly GRE Investment Coach, Naresh at

 

naresh@getricheducation.com 

 

Until next week for Episode 400, I’m your host, Keith Weinhold. DQYD!

Direct download: GREepisode399_b.mp3
Category:general -- posted at: 4:00am EDT

Are “coffin homes” coming to the United States? This is concerning. Housing is so expensive that people live in cocoons.

A new Biden plan makes efforts to increase American housing supply.

Finally! We need help on the supply side, not the demand side.

I explore recession prospects with you. 

During 7 of America’s 8 recessions (over the last sixty years), home prices only fell once.

What Really Matters: “If you had invested $1,000 in JP Morgan in 1882, you’d be dead today.”

You can borrow against your RE portfolio’s value with a cash-out refinance, tax-free. It’s like “lump sum cash flow”.

Add properties to your portfolio through our international network at GREmarketplace.com

Resources mentioned:

Show Notes:

www.GetRichEducation.com/398

GRE Video: What Really Matters

https://youtu.be/Yhkvjg-gj9Q

California’s Cocoon-Like Pods:

https://www.cbsnews.com/news/sleeping-pods-startup-800-a-month-brownstone-shared-housing/

Biden’s plan to increase American housing supply:

https://www.whitehouse.gov/briefing-room/statements-releases/2022/05/16/president-biden-announces-new-actions-to-ease-the-burden-of-housing-costs/

American Median Home Price Since 1963:

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

Get mortgage loans for investment property:

RidgeLendingGroup.com or call 877-74-RIDGE

JWB’s available Florida income property:

CashFlowAndGrowth.com

To learn more about eQRPs: text “GRE” to 307-213-3475 or:

eQRP.co

By texting “GRE” to 307-213-3475 and opting in, you will receive periodic marketing messages from eQRP Co. Message & data rates may apply. Reply “STOP” to cancel.

Make passive income with apartment and other syndications:

www.imaccredited.com

Best Financial Education:

GetRichEducation.com

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

www.GetRichEducation.com/Letter

Our YouTube Channel:

www.youtube.com/c/GetRichEducation

Top Properties & Providers:

GREmarketplace.com

Follow us on Instagram:

@getricheducation

Keith’s personal Instagram:

@keithweinhold

Direct download: GREepisode398_.mp3
Category:general -- posted at: 4:00am EDT

Will you be banned as a real estate investor? Some jurisdictions consider adopting this stance to keep soaring prices in check.

Some workers cannot afford to return to the office. If they leave home, they would have new expenses for gasoline, meals, parking and the big one—child care.

Of the “5 Ways Real Estate Pays”, historically: three are now high, one is low, and one is the same.

Caeli Ridge joins us. She’s the President of Ridge Lending Group. They specialize in income property loans.

Despite higher mortgage interest rates, investor-centric mortgage companies like Ridge haven’t seen much decline in business. Learn why.

Their “All-In-One Loan” can reduce the amount of property interest that you pay over time. It’s a 30-year line of credit with high flexibility.

Use Ridge’s All-In-One Loan Simulator to see if you save: https://ridgelendinggroup.com/aio-loans/

We discuss interest-only loans (which I like) and negatively amortizing loans. The latter got borrowers in trouble during the Global Financial Crisis; LTVs were as high as 115%.

Interest rate lock periods are up to 90 days at Ridge.

Investing out-of-state is easy. A mobile notary comes to your home, office, or even on vacation at a resort.

Ridge helps you sequence your investor loans, taking a long-term, holistic approach to your financial freedom.

Resources mentioned:

Show Notes:

www.GetRichEducation.com/397

Get mortgage loans for investment property:

RidgeLendingGroup.com or call 877-74-RIDGE

All-In-One Loan Simulator to see if you save: 

https://ridgelendinggroup.com/aio-loans/

Dallas’ proposal to limit REIs:

https://www.businessinsider.com/hoas-and-legislators-consider-taking-action-against-real-estate-investors-2022-5

JWB’s available Florida income property:

CashFlowAndGrowth.com

To learn more about eQRPs: text “GRE” to 307-213-3475 or:

eQRP.co

By texting “GRE” to 307-213-3475 and opting in, you will receive periodic marketing messages from eQRP Co. Message & data rates may apply. Reply “STOP” to cancel.

Make passive income with apartment and other syndications:

www.B2Rdirect.com

Best Financial Education:

GetRichEducation.com

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

www.GetRichEducation.com/Letter

Our YouTube Channel:

www.youtube.com/c/GetRichEducation

Top Properties & Providers:

GREmarketplace.com

Follow us on Instagram:

@getricheducation

Keith’s personal Instagram:

@keithweinhold

Direct download: GREepisode397_.mp3
Category:general -- posted at: 4:00am EDT

The mad scientist of multifamily is here today. 

Neal Bawa is a data scientist. He keeps emotion out of real estate for investors in his $947M portfolio.

He believes that higher mortgage interest rates are a smaller obstacle than the Fed’s currency creation and destruction. He says: “Accept the risk.”

We discuss investor confirmation bias.

Neal thinks American cash flow will keep diminishing.

Of all emerging trends, Neal believes that the work from home trend is among the most substantial.

Learn more about Neal at www.MultifamilyU.com or by searching “Neal Bawa”.

The blockchain is a digital ledger. It allows everyone to access information publicly and securely. It allows for the democratization of information.

Blockchain looks to disrupt the real estate title industry. Exorbitant title insurance fees could go extinct.

Tokenization is easier with blockchain. This means that you can sell real estate shares without friction.

Institutional investors are poised to own more of the real estate market, taking share from mom-and-pop operators.

Resources mentioned:

Show Notes:

www.GetRichEducation.com/396

Neal Bawa’s resources:

Google search “Neal Bawa”

Grocapitus.com

MultifamilyU.com

Get mortgage loans for investment property:

RidgeLendingGroup.com or call 877-74-RIDGE

JWB’s available Florida income property:

CashFlowAndGrowth.com

To learn more about eQRPs: text “GRE” to 307-213-3475 or:

eQRP.co

By texting “GRE” to 307-213-3475 and opting in, you will receive periodic marketing messages from eQRP Co. Message & data rates may apply. Reply “STOP” to cancel.

Make passive income with apartment and other syndications:

www.B2Rdirect.com

Best Financial Education:

GetRichEducation.com

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

www.GetRichEducation.com/Letter

Our YouTube Channel:

www.youtube.com/c/GetRichEducation

Top Properties & Providers:

GREmarketplace.com

Follow us on Instagram:

@getricheducation

Keith’s personal Instagram:

@keithweinhold

Direct download: GREepisode396_.mp3
Category:general -- posted at: 4:00am EDT

Rents are spiking 13-15% annually in America today. When they rise, they rarely ever fall again. This is why rent amounts are called “sticky”. Learn why.

Even when I was a landlord during the GFC fifteen years ago, my rents didn’t fall.

Rents are skyrocketing due to:

  • Low housing supply
  • Higher prices
  • Higher interest rates
  • Demographics. 25-34 year-olds are in prime household formation years. They want their own place. This is America's most populous age cohort.

Next, I talk with an Alabama / Florida builder about how he overcomes today’s material supply chain and labor shortage difficulties.

They have a 93-day build time.

How? They store windows so that they cannot run out. 

Cabinets have been a problem so bad that they’ve had to leave homes 99% complete until cabinets were ready. 

Lumber and petroleum product price volatility has been a challenge.

They have their own division for titling vacant land for future building. 

Alabama has America’s 2nd-lowest property taxes. As an out-of-state investor, you get to pay property tax in the state where you own property, not where you live.

To get started with Alabama income property, start at: www.GREmarketplace.com/Alabama

This build-to-rent provider uses fixtures like: LVP, granite or quartz countertops, stainless steel appliances.

LTRs and STRs will be available shortly. Start at: www.GREmarketplace.com/Alabama

Resources mentioned:

Show Notes:

www.GetRichEducation.com/395

Get started with new-build AL & FL long and short-term rentals:

www.GREmarketplace.com/Alabama

Get mortgage loans for investment property:

RidgeLendingGroup.com or call 877-74-RIDGE

JWB’s available Florida income property:

CashFlowAndGrowth.com

To learn more about eQRPs: text “GRE” to 307-213-3475 or:

eQRP.co

By texting “GRE” to 307-213-3475 and opting in, you will receive periodic marketing messages from eQRP Co. Message & data rates may apply. Reply “STOP” to cancel.

Make passive income with apartment and other syndications:

www.B2Rdirect.com

Best Financial Education:

GetRichEducation.com

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

www.GetRichEducation.com/Letter

Our YouTube Channel:

www.youtube.com/c/GetRichEducation

Top Properties & Providers:

GREmarketplace.com

Follow us on Instagram:

@getricheducation

Keith’s personal Instagram:

@keithweinhold

Direct download: GREepisode395b_.mp3
Category:general -- posted at: 4:00am EDT

The housing crash is 100% certain. That’s because it’s a supply crash, not a price crash.

I define a price crash as a loss in valuation of 20% or more.

Here are the bubble factors that I consider in today’s show: 

Price, inflation-adjusted price, interest rates, affordability, bond yields, personal incomes, foreign buyers, equity position, housing supply and more.

From 2018 to 2022, I tell you about my recent housing forecast history.

Redfin shows us signs of a housing market slowdown. 

For Jacksonville investment property, start here: www.GREmarketplace.com/JAX

Properties that don’t cash flow with a 20% down payment often do with a 40% down payment. But your leverage falls from 5-to-1 down to 2.5-to-1.

Jacksonville has low cost properties, favorable climate, strong population growth, and growing industries like the Port Of Jacksonville.

Get started with Jacksonville property at: www.GREmarketplace.com/JAX

Resources mentioned:

Show Notes:

www.GetRichEducation.com/394

Get started with Jacksonville property:

www.GREmarketplace.com/JAX

Get mortgage loans for investment property:

RidgeLendingGroup.com or call 877-74-RIDGE

JWB’s available Florida income property:

CashFlowAndGrowth.com

To learn more about eQRPs: text “GRE” to 307-213-3475 or:

eQRP.co

By texting “GRE” to 307-213-3475 and opting in, you will receive periodic marketing messages from eQRP Co. Message & data rates may apply. Reply “STOP” to cancel.

Make passive income with apartment and other syndications:

www.B2Rdirect.com

Best Financial Education:

GetRichEducation.com

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

www.GetRichEducation.com/Letter

Our YouTube Channel:

www.youtube.com/c/GetRichEducation

Top Properties & Providers:

GREmarketplace.com

Follow us on Instagram:

@getricheducation

Keith’s personal Instagram:

@keithweinhold

Direct download: GREepisode394_.mp3
Category:general -- posted at: 4:00am EDT

One niche that people are passionate about is investing in self-storage facilities (SSF).

SSFs are recession-resilient and there’s less to maintain. Your “tenants” are often cardboard boxes, not humans. This makes it easy to manage.

Tenants often expect to stay for 6 months, but stay for 3 years.

A 10 x 10 storage space might rent for $200. You could increase the rent by 10% to $220. They won’t move out due to a $20 increase, but you got a 10% rent hike across all your units.

The best SSF locations are accessible, for example, near an expressway interchange.

SSFs are little more than 4 pieces of sheet metal, a floor, and a door. 

You can invest alongside today’s SSF expert guest, Dave, at: www.gremarketplace.com/selfstorage

This business model: Buy property from a mom-and-pop operator, add size and scale, and sell to a REIT, all in a 3 to 6-year span.

One must be accredited and invest at least $50K. Investors receive reports quarterly.

SSF cash flow is modest, typically 3-7%. This is an equity play, where you could 2-3X your funds on the sale at exit time.

Learn more and get started at: www.gremarketplace.com/selfstorage

Resources mentioned:

Show Notes:

www.GetRichEducation.com/393

Get started. Learn more about self-storage investing:

www.GREmarketplace.com/selfstorage

Get mortgage loans for investment property:

RidgeLendingGroup.com or call 877-74-RIDGE

JWB’s available Florida income property:

CashFlowAndGrowth.com

To learn more about eQRPs: text “GRE” to 307-213-3475 or:

eQRP.co

By texting “GRE” to 307-213-3475 and opting in, you will receive periodic marketing messages from eQRP Co. Message & data rates may apply. Reply “STOP” to cancel.

Make passive income with apartment and other syndications:

www.B2Rdirect.com

Best Financial Education:

GetRichEducation.com

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

www.GetRichEducation.com/Letter

Top Properties & Providers:

GREmarketplace.com

Follow us on Instagram:

@getricheducation

Keith’s personal Instagram:

@keithweinhold

Direct download: GREepisode393_.mp3
Category:general -- posted at: 4:00am EDT

Why are home prices surging? I’ve got 10 big reasons and break down every one. Some reasons are not obvious.

America’s residential loan-to-value ratio is just 31%. 

Interest-only loans are my favorite loan type. You don’t need to make any principal payments.

Most people think interest-only loans awful. I explain why they’re often so advantageous. 

You meet GRE’s Investment Counselor, Naresh Vissa. For off market property, e-mail him at naresh@getricheducation.com.

Naresh’s service is free to you. He guides you through the purchase process.

He owns 8 properties in 4 states himself. 

Contact Naresh. GRE has 50+ properties available today - SFR up to 5-plex, LTR, STR, and more.

Resources mentioned:

Show Notes:

www.GetRichEducation.com/392

E-mail GRE’s Naresh Vissa for off-market property:

naresh@getricheducation.com

Get mortgage loans for investment property:

RidgeLendingGroup.com or call 877-74-RIDGE

JWB’s available Florida income property:

CashFlowAndGrowth.com

To learn more about eQRPs: text “GRE” to 307-213-3475 or:

eQRP.co

By texting “GRE” to 307-213-3475 and opting in, you will receive periodic marketing messages from eQRP Co. Message & data rates may apply. Reply “STOP” to cancel.

Make passive income with apartment and other syndications:

www.B2Rdirect.com

Best Financial Education:

GetRichEducation.com

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

www.GetRichEducation.com/Letter

Top Properties & Providers:

GREmarketplace.com

Follow us on Instagram:

@getricheducation

Keith’s personal Instagram:

@keithweinhold

Direct download: GREepisode392_.mp3
Category:general -- posted at: 4:00am EDT

Uncertainty is high. Inflation is spiking, supply chains are unreliable, and COVID keeps hanging around. 

Russia’s invasion of Ukraine threatens to make inflation and supply chain reliability worse.

Amidst this backdrop, today’s guest, Richard Duncan, discusses prospects for a US recession.

Richard reiterates that the US needs credit growth of at least 2% annually (inflation-adjusted) to avoid a recession.

In a recession, nearly every asset class would be affected.

The wealth-to-income ratio’s importance is discussed.

The Fed has begun hiking interest rates. They soon plan to begin destroying dollars with quantitative tightening.

Richard wrote a new book, The Money Revolution. It includes a history of the Fed, and points out that China is positioned to become more powerful than the US.

But the US can stay in power if it creates tons of money in order to finance infrastructure, green energy, biotech, nanotech, and more innovation.

Richard maintains that capitalism no longer drives the economy. It’s “creditism” and “consumerism”.

I ask Richard about the risk of creating more dollars than production and innovation.

Contrary to seemingly everybody, Richard believes that the Fed is a force for good.

Resources mentioned:

Show Notes:

www.GetRichEducation.com/391

Get MacroWatch for a 50% discount with the code “GRE”:

www.RichardDuncanEconomics.com

Richard’s new book:

The Money Revolution

Get mortgage loans for investment property:

RidgeLendingGroup.com or call 877-74-RIDGE

JWB’s available Florida income property:

CashFlowAndGrowth.com

To learn more about eQRPs: text “RICH” to 307-213-3475 or:

eQRP.co

By texting “RICH” to 307-213-3475 and opting in, you will receive periodic marketing messages from eQRP Co. Message & data rates may apply. Reply “STOP” to cancel.

New Const. Florida SFHs & multifamilies:

www.B2Rdirect.com

Best Financial Education:

GetRichEducation.com

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

www.GetRichEducation.com/Letter

Top Properties & Providers:

GREmarketplace.com

Follow us on Instagram:

@getricheducation

Keith’s personal Instagram:

@keithweinhold

Direct download: GREepisode391_.mp3
Category:general -- posted at: 4:00am EDT

Now you have to earn your money twice. The first time is when you work for it, the second time is when you must invest it to beat inflation. My explainer on why higher interest rates slow inflation.

“Inflation is legalized counterfeiting. Counterfeiting is criminalized inflation.” -Robert Breedlove

When wages don’t keep pace with inflation, I explain why it destroys families.

We compare short-term (STR) and long-term rental (LTR) property in southwest Florida. Get started with buying properties yourself at: https://gremarketplace.com/SouthwestFlorida

Of course, Florida is an in-migration hotbed. Home price appreciation and rents are both 10%-20%+ year-over-year.

Today’s LTR tenants seek: infill lots, more square footage, an extra bedroom / den, and grocery store proximity.  

STR tenants want a pool. You really make your money November through April.

LTRs have more recession resistance than STRs. LTRs have more predictable, year-round income.

STRs often have $4,000-$5,000 a week of rent income. They have a 20% management fee. You can charge the tenants a cleaning fee. You owe utility costs and ~$100 monthly yard maintenance. 

Single-family rental properties are 1,500-1,900 sf on a ¼ acre lot, LVP flooring, granite countertops, stainless steel appliances, 9’4” ceilings, and concrete block exterior walls.

Pricing is in the low $300Ks to low $400Ks. Long-term rents are $2,000-$2,400 / month.

To get started with buying single-family homes and duplexes (long-term and short-term rentals) in southwest Florida, start at: https://GREmarketplace.com/SouthwestFlorida 

Resources mentioned:

Get started with SW Florida long-term and short-term rentals:

https://GREmarketplace.com/SouthwestFlorida

Show Notes:

www.GetRichEducation.com/390

Get mortgage loans for investment property:

RidgeLendingGroup.com or call 877-74-RIDGE

JWB’s available Florida income property:

CashFlowAndGrowth.com

To learn more about eQRPs: text “RICH” to 307-213-3475 or:

eQRP.co

By texting “RICH” to 307-213-3475 and opting in, you will receive periodic marketing messages from eQRP Co. Message & data rates may apply. Reply “STOP” to cancel.

New Const. Florida SFHs & multifamilies:

www.B2Rdirect.com

Best Financial Education:

GetRichEducation.com

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

www.GetRichEducation.com/Letter

Top Properties & Providers:

GREmarketplace.com

Follow us on Instagram:

@getricheducation

Keith’s personal Instagram:

@keithweinhold

Direct download: GREepisode390_.mp3
Category:general -- posted at: 4:00am EDT

Bitcoin Beach is a real world place. It’s in the tropics and has zero property tax. It’s on the Pacific Ocean.

It reminds many of coastal California, but without the sky-high prices.

Both bitcoin and the US dollar are legal tender here. Unlike the US, there is zero capital gains tax on bitcoin. 

A beautiful 40-acre property is being developed on a hill overlooking Bitcoin Beach.

Besides luxury homes, condos, and tiny homes, the property plan includes Pacific views from every unit. Home sizes can range from 300 sf up to 10,000 sf.

Novel concepts are planned in the community: a gym that powers energy for bitcoin mining, earth embed homes, aquaponics eco-farm, orchards, gardens. More common amenities like a pool, restaurant, and bar are planned.

Get started with Bitcoin Beach real estate at: https://gremarketplace.com/BitcoinBeach

There’s an option for residency in a second nation for you.

Resources mentioned:

Get started with Bitcoin Beach real estate:

https://gremarketplace.com/BitcoinBeach

Show Notes:

www.GetRichEducation.com/389

Get mortgage loans for investment property:

RidgeLendingGroup.com or call 877-74-RIDGE

JWB’s available Florida income property:

CashFlowAndGrowth.com

To learn more about 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.

New Const. Florida SFHs & multifamilies:

www.B2Rdirect.com

Best Financial Education:

GetRichEducation.com

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

www.GetRichEducation.com/Letter

Top Properties & Providers:

GREmarketplace.com

Follow us on Instagram:

@getricheducation

Keith’s personal Instagram:

@keithweinhold

Direct download: GREepisode389_.mp3
Category:general -- posted at: 4:00am EDT

Today’s high inflation rate is poised to go higher. The latest CPI was up 7.9%.

Home prices hit an all time high of $364,000 per Redfin, up 16% annually.

Safety factors, building restrictions and the environmental movement all contribute to higher home prices and more homelessness.

Larry Reed, the longtime former President of FEE - the Foundation for Economic Education - joins us.

He believes that free market principles incentive the best of human behavior - prudent risk-taking, hard work, innovation, and ethics.

Larry is an expert on the Great Depression. He relates those lessons to today’s economy.

We discuss real estate, economics, inflation, interest rates, and taxes.

Learn about the danger of the government “giving away free stuff”.

One fault with government intervention is favorable short-term action that results in long-term destruction. 

Resources mentioned:

Show Notes:

www.GetRichEducation.com/388

Foundation for Economic Education:

www.fee.org

Lawrence W. Reed’s website:

www.lawrencewreed.com

Get mortgage loans for investment property:

RidgeLendingGroup.com or call 877-74-RIDGE

JWB’s available Florida income property:

CashFlowAndGrowth.com

To learn more about 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.

New Const. Florida SFHs & multifamilies:

www.B2Rdirect.com

Best Financial Education:

GetRichEducation.com

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

www.GetRichEducation.com/Letter

Top Properties & Providers:

GREmarketplace.com

Follow us on Instagram:

@getricheducation

Keith’s personal Instagram:

@keithweinhold

Direct download: GREepisode388_.mp3
Category:general -- posted at: 5:00am EDT

The greatest tax gift that your government gives real estate investors could be the 1031 Like Kind Exchange. This allows you to defer your capital gains tax and depreciation recapture.

There is no limit to the number of times that you can do this during your lifetime. You can make millions more with 1031 Exchanges.

But there are some specific rules to follow, like the 45-day identification period and 180-day timeframe in which to close upon replacement property.

You must use a Qualified Intermediary (QI) to facilitate your exchange.

Learn the pitfalls that nullify one from doing an exchange. 

This is a highly educational show. 

Resources mentioned:

Show Notes:

www.GetRichEducation.com/387

Get started with a 1031 Exchanges:

www.GREmarketplace.com/1031

Sign up for our free “Don’t Quit Your Daydream” newsletter:

www.GetRichEducation.com/Letter

Get mortgage loans for investment property:

RidgeLendingGroup.com or call 877-74-RIDGE

JWB’s available Florida income property:

CashFlowAndGrowth.com

To learn more about 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.

New Const. Florida SFHs & multifamilies:

www.B2Rdirect.com

Best Financial Education:

GetRichEducation.com

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

www.GetRichEducation.com/Letter

Top Properties & Providers:

GREmarketplace.com

Follow us on Instagram:

@getricheducation

Keith’s personal Instagram:

@keithweinhold

Direct download: GREepisode387_b.mp3
Category:general -- posted at: 4:00am EDT

Residential and warehouse real estate have been two hot sectors.

With spiking house prices, investors are pushing out first-time home buyers. This increases the size of the renter pool.

Historically, when mortgage rates rise, so do home prices. It’s the opposite of what most people think.

For income property loans, get started at: RidgeLendingGroup.com

Learn what it takes to qualify for a conventional loan on investment property: down payment, credit score, debt-to-income ratio, etc.

There’s an update on today’s refinance climate.

Appraisals are generally keeping up with today’s hotter appreciation rates.

Learn about the easiest loan to qualify for that you’ve potentially ever experienced - the “DSCR”. 

Resources mentioned:

Get mortgage loans for investment property:

RidgeLendingGroup.com or call 877-74-RIDGE

Sign up for our free “Don’t Quit Your Daydream” newsletter:

www.GetRichEducation.com/Letter

Show Notes:

www.GetRichEducation.com/episode/386

JWB’s available Florida income property:

CashFlowAndGrowth.com

To learn more about 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.

New Const. Florida SFHs & multifamilies:

www.B2Rdirect.com

Best Financial Education:

GetRichEducation.com

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

www.GetRichEducation.com/Letter

Top Properties & Providers:

GREmarketplace.com

Follow us on Instagram:

@getricheducation

Keith’s personal Instagram:

@keithweinhold

Direct download: GREepisode386_.mp3
Category:general -- posted at: 4:00am EDT

Inflation hit its highest since 1982. The government admits that the CPI is now 7.5%. 

Even if your wages don’t keep up proportionally with inflation, learn about how to profit from inflation with real estate.

What happens when your tenant can’t afford today’s higher rents? You get answers. 

Get my prediction on what will happen in a higher interest rate environment.

Our COO Aundrea Newbern, MBA, joins us. She tells us about the snowball effect of scaling up your real estate portfolio.

In a tight market with low real estate inventory, rather than the buyer waiving their inspection, it’s often better to shorten your due diligence period.

Aundrea tells us how to pay yourself a W-2 salary through your LLC. This helps you qualify for more mortgage loans.

E-mail Aundrea about finding Georgia income property at: info@getricheducation.com

Resources mentioned:

Sign up for our free “Don’t Quit Your Daydream” newsletter:

www.GetRichEducation.com/Letter

Show Notes:

www.GetRichEducation.com/episode/385

Get mortgage loans for investment property:

RidgeLendingGroup.com

JWB’s available Florida income property:

CashFlowAndGrowth.com

To learn more about 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.

New Const. Florida SFHs & multifamilies:

www.B2Rdirect.com

Best Financial Education:

GetRichEducation.com

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

www.GetRichEducation.com/Letter

Top Properties & Providers:

GREmarketplace.com

Follow us on Instagram:

@getricheducation

Keith’s personal Instagram:

@keithweinhold

Direct download: GREepisode385_b.mp3
Category:general -- posted at: 4:00am EDT

A laid-back lifestyle in a tropical climate typifies “Margaritaville”.

Margaritaville is a popular and flourishing real estate brand. There’s also short-term rental income stream for you here.

A new location is opening in Belize. It is closer to more of the US than Hawaii, and with warmer water. 

It has the largest reef in the hemisphere, good for snorkeling, diving, and fishing. 

This under-construction project has Caribbean beachfront.

The partners with the development are the largest private employer in Belize and the nation’s largest law firm.

Learn more about owning a Margaritaville villa in Belize at: www.GREmarketplace.com/belize

My guest & I discuss the lifespan of tourist locales. They emerge with visits from young backpackers. Later in the cycle, once “discovered”, it matures into visits from affluent tourists.

This is a rare opportunity for an everyday investor to partner with a strong brand - Margaritaville.

You can own a villa, use it for a few weeks a year, and rent it out for the remainder of the year. You can leverage Margaritaville’s STR management partner.

Prices start in the low $200Ks.

Real estate contracts are brief and written in English. In Belize, you don’t need title insurance. The government backs all titles. 

In-person tours are available and encouraged. Our show guest really wants to show you Belize.

Learn more and get started at: www.GREmarketplace.com/Belize

Resources mentioned:

Get started with this opportunity at:

www.GREmarketplace.com/Belize

Show Notes:

www.GetRichEducation.com/episode/384

Get mortgage loans for investment property:

RidgeLendingGroup.com

JWB’s available Florida income property:

CashFlowAndGrowth.com

To learn more about 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.

New Const. Florida SFHs & multifamilies:

www.B2Rdirect.com

Best Financial Education:

GetRichEducation.com

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

www.GetRichEducation.com/Letter

Top Properties & Providers:

GREmarketplace.com

Follow us on Instagram:

@getricheducation

Keith’s personal Instagram:

@keithweinhold

Direct download: GREepisode384_.mp3
Category:general -- posted at: 4:00am EDT

Housing prices surged 20% annually. Rents have now caught up, rising 19.3%.

New homebuilding hit a 45-year high.

There are three ways to measure housing market vibrancy: months of available inventory, sale-to-list price ratio, and days on market (DOM).

The level of available housing is now just one-fifth of what it needs to be.

A new poll shows that “work from home” trends benefit both bosses and employees.

I tell you about my Ecuador trip.

Our Operations Lead, Aundrea Newbern, MBA interviews me about real estate and my personal life. 

Resources mentioned:

Show Notes:

www.GetRichEducation.com/383

Today’s American housing supply:

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

Video: Fitness & Financial Freedom, Age:

https://youtu.be/jqxjEFC_CYM

To learn more about 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.

Get mortgage loans for investment property:

RidgeLendingGroup.com

JWB’s available Florida income property:

CashFlowAndGrowth.com

New Const. Florida SFHs & multifamilies:

www.B2Rdirect.com

Best Financial Education:

GetRichEducation.com

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

www.GetRichEducation.com/Letter

Top Properties & Providers:

GREmarketplace.com

Follow us on Instagram:

@getricheducation

Keith’s personal Instagram:

@keithweinhold

Direct download: GREepisode383_.mp3
Category:general -- posted at: 4:00am EDT

A high school teacher reveals the sad state of financial education today.  Most students still think the path is: go to school, get good grades, go to college, get a job, work until you’re 65, and then start enjoying life. 

Dan Sheeks is a Denver, Colorado-based high school teacher and real estate investor. 

He enjoys working with teenagers. He also volunteers for the Colorado Attorney General to advance financial education.  

Just last month, Dan released a book with Bigger Pockets: “First to a Million: A Teenager’s Guide to Achieving Early Financial Independence”. See it here.

He discusses solutions for teenage financial independence: 

1) When you turn 18, get your first credit card 

2) “House hack” real estate by age 21

3) Good debt vs. bad debt - do teens understand?

4) Mindset

5) Avoiding mistakes like “meme coins”

6) Saving

Dan tells us the two main reasons why there’s a pathetic lack of financial education in school today - funding and politics.  

Resources mentioned:

Show Notes:

www.GetRichEducation.com/382

If you have a child, get Dan’s book:

First to a Million: A Teenager’s Guide to Achieving Early Financial Independence

Dan Sheeks’ online community for young people:

www.SheeksFreaks.com

Dan Sheeks’ e-mail (It’s OK to message him):

dan@sheeksfreaks.com

To learn more about 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.

Get mortgage loans for investment property:

RidgeLendingGroup.com

JWB’s available Florida income property:

CashFlowAndGrowth.com

New Const. Florida SFHs & multifamilies:

www.B2Rdirect.com

Best Financial Education:

GetRichEducation.com

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

www.GetRichEducation.com/Letter

Top Properties & Providers:

GREmarketplace.com

Follow us on Instagram:

@getricheducation

Keith’s personal Instagram:

@keithweinhold

Direct download: GREepisode382_.mp3
Category:general -- posted at: 4:00am EDT

There are two main ways to create wealth. Debt-free is not one of them. If you only use your own money, you’ll stay small.

Learn why most investments are like baseball cards.

One market in America has such astounding resilience that prices were hardly dented in the 2008 financial crisis. 

Median home prices are still below $300K here today.

Dallas-Fort Worth now spans 11 counties, with 7.6M people. 

This real estate provider focuses on the DFW suburbs. That’s where the growth is happening.

Importantly, they use a plan for mitigating their higher Texas property taxes. 

Housing here appears undervalued and underpriced. People are often underhoused.

Due to supply shortages, next day appliance delivery has disappeared.

This real estate provider has plenty of available inventory right now. They offer you in-house property management at 6.5%. SFR prices are $160K-$225K.

This is an actionable resource where you could buy property and benefit from the five ways you’re paid at: www.GREmarketplace.com/Texas

Resources mentioned:

Show Notes:

www.GetRichEducation.com/381

Get started with Texas property:

www.GREmarketplace.com/Texas

To learn more about 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.

Get mortgage loans for investment property:

RidgeLendingGroup.com

JWB’s available Florida income property:

CashFlowAndGrowth.com

New Const. Florida SFHs & multifamilies:

www.B2Rdirect.com

Best Financial Education:

GetRichEducation.com

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

www.GetRichEducation.com/Letter

Top Properties & Providers:

GREmarketplace.com

Follow us on Instagram:

@getricheducation

Keith’s personal Instagram:

@keithweinhold

Direct download: GREepisode381_.mp3
Category:general -- posted at: 4:00am EDT

You’ve been making $438 each night in your sleep. That’s one result if you’ve been following my plan. 

I compare real estate’s annual performance to: stocks, gold, silver, bitcoin, bonds, and oil.

This state ranked 3rd in Moody’s Housing Affordability Index, has the 7th-largest domestic economy, and is a two-hour flight from 75% of the US & Canada. 

This state is also home to offices for Google, Facebook, Carvana, and more. In 2020, it ranked 4th of 50 states in U-Haul’s net in-migration. 

You can still achieve a full 1% rent-to-value ratio here. Get started at: gremarketplace.com.

Today’s guests own a turnkey company with three models: 

     Signature Series - fully renovated

     Instant CashFlow Series - occupied, not rehabbed

     Equity Advantage Series - vacant, not rehabbed

This provider has stopped charging leasing fees for property management. Remarkable.

Resources mentioned:

Show Notes:

www.GetRichEducation.com/380

Get started with Ohio property:

www.GREmarketplace.com/Cincinnati

www.GREmarketplace.com/Dayton

Check out Flip & Dani Lynn’s new podcast:

Freedom Through Passive Income

To learn more about 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.

Get mortgage loans for investment property:

RidgeLendingGroup.com

JWB’s available Florida income property:

CashFlowAndGrowth.com

New Const. Florida SFHs & multifamilies:

www.B2Rdirect.com

Best Financial Education:

GetRichEducation.com

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

www.GetRichEducation.com/Letter

Top Properties & Providers:

GREmarketplace.com

Follow us on Instagram:

@getricheducation

Keith’s personal Instagram:

@keithweinhold

Direct download: GREepisode380_.mp3
Category:general -- posted at: 4:00am EDT

A homeowner’s average equity position is now $294K. That’s what the median home value was not long ago - now it’s one’s equity.

I give a quick recap of major economic and real estate events this past year.

Last year, there was an average $56,700 of equity growth per property.

Our new website, GREmarketplace.com is rolling out. Register and get access to all of our: turnkey providers, pro formas, and sample properties. See videos of us interviewing property managers too.

Jeff Deist, President of the Mises Institute joins me. 

The Mises Institute champions liberty and free market principles. Learn more about them at www.Mises.org

Jeff & I discuss: real estate and rental markets, inflation, work from home, cash, low interest rates, debt. 

I ask Jeff how long he thinks we’ll see real price inflation through the 2020s decade, and prospects for a double dip recession.

Get our free wealth-building “Don’t Quit Your Daydream” Letter. I write it myself: www.GetRichEducation.com/Letter

Resources mentioned:

Show Notes:

www.GetRichEducation.com/379

Mises Institute website:

www.Mises.org

To learn more about 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.

Get mortgage loans for investment property:

RidgeLendingGroup.com

JWB’s available Florida income property:

CashFlowAndGrowth.com

New Const. Florida SFHs & multifamilies:

www.B2Rdirect.com

Best Financial Education:

GetRichEducation.com

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

www.GetRichEducation.com/Letter

Top Properties & Providers:

GREmarketplace.com

Follow us on Instagram:

@getricheducation

Keith’s personal Instagram:

@keithweinhold

Direct download: GREepisode379_.mp3
Category:general -- posted at: 4:00am EDT

With higher property prices, what rent-to-value ratio makes sense today? I answer this thoroughly.

Lower RVs make sense today due to: lower interest rates, new-build properties, the timing of equity harvesting and more.

GRE Marketplace is coming soon.

Tom Wheelwright joins us to help you reduce your property tax and cryptocurrency tax. 

Learn why some states have higher property tax than income tax or vice versa - CA, TX, NY, NJ, AK, and more.

Many property tax professionals only get paid based on how much they reduce your property tax.

Learn what works in actually getting your property tax reduced: comparables.

In cryptocurrency, you are taxed on either a sale or an exchange - not just a sale. For example, if you trade bitcoin for ethereum, you have a tax consequence.

If you buy a $3 cup of coffee with crypto, that is usually taxed.

Miners of crypto are taxed when they mine it, not only when they sell it.

Crypto is taxed at capital gains tax rates.

Tom does not believe that crypto will be outlawed in the US. Rather, it will be regulated through taxation and reporting.

Get our free wealth-building “Don’t Quit Your Daydream” Letter. I write it myself: www.GetRichEducation.com/Letter

Resources mentioned:

Show Notes:

www.GetRichEducation.com/378

Tom Wheelwright’s website:

www.WealthAbility.com

Tom’s popular book (I’ve read it):

Tax-Free Wealth

To learn more about 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.

Get mortgage loans for investment property:

RidgeLendingGroup.com

JWB’s available Florida income property:

CashFlowAndGrowth.com

New Const. Florida SFHs & multifamilies:

www.B2Rdirect.com

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: GREepisode378_.mp3
Category:general -- posted at: 4:00am EDT

I sold an eight plex apartment building for $789,000 last week. Learn lessons from my sale.

Dr. Randall Wray joins us to discuss where our economy is headed. He tells us about inflation, taxes, interest rates, and supply chain disruption dynamics.

Is Modern Monetary Theory (MMT) a utopia or disaster?

Taxes remove currency from the economy. This reduces inflation.

What about Universal Basic Income (UBI)? This basically means writing regular monthly checks to every citizen. Dr. Wray has strong opinions here.

Rapid currency creation and inflation is explored.

Dr. Randall Wray provides his recipe for full employment and stable prices.

It includes his answer of a “job creation program”.

Resources mentioned:

Show Notes:

www.GetRichEducation.com/377

Learn more about Dr. Randall Wray:

www.levy.org

Bill Mitchell’s MMT blog:

http://bilbo.economicoutlook.net/blog/

To learn more about 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.

Get mortgage loans for investment property:

RidgeLendingGroup.com

JWB’s available Florida income property:

CashFlowAndGrowth.com

New Const. Florida SFHs & multifamilies:

www.B2Rdirect.com

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: GREepisode377_.mp3
Category:general -- posted at: 4:00am EDT

Tax The Rich. Learn how this theme is gaining traction in Congress.

Wealthability’s Tom Wheelwright joins us. 

Which taxes make sense: property tax, consumption tax, flat income tax, progressive tax?

In Tom’s opinion, learn why flat taxes will never happen. 

Oh no! A new 3.8% net investment income tax on business owners appears likely.

Will the 1031 Exchange benefit survive?

Next, The eQRP Company’s Damion Lupo joins us.

He tells us that the Checkbook IRA has been outlawed.

The eQRP is the retirement plan answer. It has: 10X the contribution limits of Traditional and Roth IRAs, zero UBIT tax, and you can invest in real estate, bitcoin, gold, or your own business.

Resources mentioned:

Show Notes:

www.GetRichEducation.com/376

Tom Wheelwright’s Wealthability:

Wealthability.com

To learn more about 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.

Get mortgage loans for investment property:

RidgeLendingGroup.com

JWB’s available Florida income property:

CashFlowAndGrowth.com

New-Build Florida income property is here:

GetRichEducation.com/SunshineState

New Const. Florida SFHs & multifamilies:

www.B2Rdirect.com

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: GREepisode376_.mp3
Category:general -- posted at: 4:00am EDT

To get a rent increase, learn what NOT to tell tenants.

Memphis, Tennessee’s Mid South Home Buyers has supplied more property for GRE followers in history.

The longest-tenured GRE providers, Terry Kerr and Liz Brody tell us how they built and maintain this 20-year-old turnkey real estate investing company.

They start with buying the ugliest house on the block.

Rents & prices on SFRs in Memphis, TN: $675-$1100 and $79K-$120K

Rents & prices on SFRs in Little Rock, AR: $800-$1300 and $90K-$130K

You can get started with buying investment property yourself at: MidSouthHomeBuyers.com. They’re popular. There’s a wait list.

Resources mentioned:

Mid South Home Buyers:

www.MidSouthHomeBuyers.com

Show Notes:

www.GetRichEducation.com/375

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.

New-Build Florida income property is here:

GetRichEducation.com/SunshineState

New Const. Florida SFHs & multifamilies:

www.B2Rdirect.com

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: GREepisode375_.mp3
Category:general -- posted at: 4:00am EDT

Doug Casey tells us that freedom and liberty don’t mean much anymore.

“America is no longer the land of the free.” -Doug Casey, GRE Podcast 374

He believes that a tax protester is a patriot. Doug also believes that roads, bridges, ports and schools should be run by the private sector, not governments.

“Regulation is the enemy of landlords and tenants.” -Doug Casey, GRE Podcast 374

Doug is a prolific author. He produces the International Man website, blog, and newsletter, and a YouTube podcast called “Doug Casey’s Take”

Resources mentioned:

Doug Casey’s website:

InternationalMan.com

Show Notes:

www.GetRichEducation.com/374

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.

New-Build Florida income property is here:

GetRichEducation.com/SunshineState

New Const. Florida SFHs & multifamilies:

www.B2Rdirect.com

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: GREepisode374_.mp3
Category:general -- posted at: 4:00am EDT

Learn why I believe US home prices will rise 9-10% next year. 

That’s higher than historic norms and lower than this year.

Expect higher mortgage interest rates too. 

Counterintuitively, higher mortgage rates correlate with higher housing prices. Higher rates also correlate with lower supply.  

Today, inflation (6.2%) is double of mortgage interest rates (3.1%). 

This means that when you repay the bank, those dollars debase on them twice as fast as the bank’s interest charges can accrue on you.

Since 1994, mortgage rates have risen six times. House prices rose every time. Next year, the same thing is expected to happen; it will be seven in a row.

I explain why higher rates correlate with lower housing supply.

Housing supply has dropped an astounding 63% from two years ago. That’s the housing crash; it was a supply crash.

Resources mentioned:

Today’s low housing supply:

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

Show Notes:

www.GetRichEducation.com/373

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.

New-Build Florida income property is here:

GetRichEducation.com/SunshineState

New Const. Florida SFHs & multifamilies:

www.B2Rdirect.com

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: GREepisode373_.mp3
Category:general -- posted at: 4:00am EDT

Real estate investing and geography are both: location, location, location.

Economic guru and geopolitical strategist, Peter Zeihan, walks us around each US region to describe its economic strengths, weaknesses, opportunities, and threats.

“The next 24 months will be the greatest period of change that we have seen… at least since the second World War.” -Peter Zeihan

Get your map out.

We discuss the US: New England, Mid-Atlantic, Southeast, Deep South, Great Lakes, Ohio, Texas, Great Plains, Intermountain West, California, Pacific Northwest. 

Learn the three best states that are attracting foreign direct investment.

Peter loves Houston, Texas’ economic future.

Resources mentioned:

Learn More About Peter:

Zeihan.com

Show Notes:

www.GetRichEducation.com/372

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.

New-Build Florida income property is here:

GetRichEducation.com/SunshineState

New Const. Florida SFHs & multifamilies:

www.B2Rdirect.com

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: GREepisode372_.mp3
Category:general -- posted at: 4:00am EDT

I talk with the person who I lend money to in order to rehab distressed properties. We discuss how it works and the 6-12% annual returns.

Importantly, many properties are secured in stable, cash flowing Ohio and around the Midwest and South. SFHs are common.

You are the lender, not the borrower. 

Get started at: GetRichEducation.com/Lending

Unlike owning a rental property where a tenant pays you to live there… a private lender program means that someone pays you to “rent out” the use of your money, typically for a year or less.

The operator, Dani Lynn Robison of Freedom Capital Investments in Springboro, Ohio, tells us how she has never lost an investor’s money. 

They have always paid back the lenders’ initial investment, plus interest, as agreed.

Learn about investing on the “debt side” of real estate rather than the “equity side” with private money lending at: GetRichEducation.com/Lending

Resources mentioned:

Learn More & Get Started:

www.GetRichEducation.com/Lending

Show Notes:

www.GetRichEducation.com/370

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.

New-Build Florida income property is here:

GetRichEducation.com/SunshineState

New Const. Florida SFHs & multifamilies:

www.B2Rdirect.com

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: GREepisode371_.mp3
Category:general -- posted at: 4:00am EDT

Buying a huge $5M apartment building is daunting to most people.

We discuss how you get the money and experience for this.

Investor vocabulary explained: Capital stack, General Partner, Limited Partner, Non-recourse loan, Acquisition fee.

Owning a duplex is different from owning a 200-unit building. With the latter, you’ll have private investors, an on-site manager, and perhaps Yelp reviews to manage. Advertising is different.

Our guest, Michael Blank, emphasizes the importance of doing your first deal - big or small. Do it. That’s when the real learning begins.

Michael excels in teaching you how to find other investors to fund your big apartment deal. To start, merely educate others. Don’t ask for money.

Get started in learning more with Michael at: GetRichEducation.com/Apartments

Resources mentioned:

Get started with Michael:

www.getricheducation.com/apartments

Show Notes:

www.GetRichEducation.com/370

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.

New-Build Florida income property is here:

GetRichEducation.com/SunshineState

New Const. Florida SFHs & multifamilies:

www.B2Rdirect.com

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: GREepisode370_.mp3
Category:general -- posted at: 4:00am EDT

Will Rogers said, “Find out where the people are going and buy the land before they get there.”

Florida in-migration has been a persistent trend since the late 1800s. Again, Florida led US in-migration between 2020 and 2021.

I interview a Florida property provider that I have heard other developers comment about, saying: “I don’t know how they deliver such low prices.”

You don’t have to pay agent markups. Buy direct.

These are new-build SFRs up to four-plexes. Get the report and connect with the provider at: GetRichEducation.com/SunshineState  

These Build-To-Rent properties are in central Florida, including Palm Bay (halfway down the Atlantic coast), Ocala, The Villages (both nw of Orlando) and more.

Growth of industry has been both varied and substantial: medical, technology, finance, international trade, agriculture, aerospace, and more than just tourism. Amazon, Space X, and Blue Origin all have a substantial presence.

This is path of progress real estate investing.

Recent sample property: New-build SFR, 3/2/2, 1,400 sf, concrete block construction, $225K sale price and $249K appraisal. (Appraisals don’t always exceed sale price; that’s a wider gap than usual.)

Build-To-Rent advantages: everything is new, warranties, higher tenant retention, location, provider buys in bulk, built-in equity, lower insurance cost.  

These new-build properties are on both infill and contiguous lots on tracts of land.

SFR communities often have amenities like pickleball courts, swimming pools, and gyms.

Tenant demand is so high that this provider gets first & last month’s rent for you in addition to security deposit.

Get actionable. New-Build Florida income property (with property management) is available here: GetRichEducation.com/SunshineState

Resources mentioned:

Show Notes:

www.GetRichEducation.com/369

New-Build Florida income property is here:

GetRichEducation.com/SunshineState

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.

New Const. Florida SFHs & multifamilies:

www.B2Rdirect.com

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: GREepisode369_.mp3
Category:general -- posted at: 4:00am EDT

One question that I’m asked is: “How do I actually buy an investment property?”

I’m going to walk you through it all today, step-by-step.

You know, even after I bought my first property, it would have been difficult to recite all the steps. This is partly due to the process's 30-60+ day duration.

Though real estate has made more ordinary people wealthy than anything else, it is illiquid.

[Watch the video version of this podcast here: https://youtu.be/9jH4_-Bwujs ]

It takes more time to buy and sell real property.

There's no brokerage "point-click-done" or Robinhood swipes here.

This is both a good and bad thing.

Because there are several steps involved, there is no panic selling in real estate.

This illiquidity keeps real estate prices more stable than nearly any other asset class.

This stability (via illiquidity) is one reason why real estate comprises the heart of so many wealthy peoples' portfolios.

Real estate prices are a smooth, glassy lake compared to the raging sea storm of volatile gold, silver, cryptocurrency, oil, and stock markets.

In under 28 minutes, I lay out every step that you must know for buying rental property.

This masterclass-level instruction comes to you without paywalls or logins. I've made it public and free. It includes:

Myriad mistakes to avoid

Improving your credit report and score

A clever way to show a higher income to underwriters

Where I get my loans

Market selection

Property due diligence

Making an offer

Get an inspection (Always!)

Appraisal

Signing a Management Agreement

Property Closing

Own and collect rent (Cha-ching! Finally.) 

More

Resources mentioned:

Show Notes:

www.GetRichEducation.com/368

Watch the video version of this podcast here:

https://youtu.be/9jH4_-Bwujs

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.

New Const. Florida SFHs & multifamilies:

www.B2Rdirect.com

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: GREepisode368_.mp3
Category:general -- posted at: 4:00am EDT

I’m in Birmingham, Alabama for a real estate field trip today.

Alabama is an investor-advantaged real estate market: low cost of living, some of the nation’s lowest property taxes.

Mindset: I tell a story on affording the time.

One of the most prolific real estate authors, Ken McElroy, joins us. 

I ask him about what happened to his 2021 housing crash prediction.

Ken & I discuss why there haven’t been more evictions since the national eviction ban ended.

We explain why don’t believe this will be massively disruptive. It matters. But to me, evictions will be a diffuse condition, not a sudden one.

Sadly, if a tenant owes their landlord tens of thousands of dollars, they’ll rarely pay.

Ken describes how he’s actively buying big real estate deals in today’s environment.

Ken gives a new “mark my words” prediction today.

Resources mentioned:

Learn more about Ken McElroy:

www.KenMcElroy.com

Birmingham, AL investment property:

www.GetRichEducation.com/Birmingham

Huntsville, AL investment property

www.GetRichEducation.com/Huntsville

Show Notes:

www.GetRichEducation.com/367

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.

New Const. Florida SFHs & multifamilies:

www.B2Rdirect.com

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: GREepisode367_.mp3
Category:general -- posted at: 4:00am EDT

Landlords collect rent payments. "Lienlords" collect mortgage payments.

Learn how to obtain a stream of mortgage payments by owning the note (an IOU).

I tell you why banks would sell mortgage notes.

Learn the difference between performing and non-performing mortgage notes.

Bob Fraser from Aspen Funds joins us to tell us more.

Fewer borrowers defaulted on their mortgage payments in-pandemic due to forbearance.

Learn why a bank will sell you a mortgage note at a discount.

What happens when a borrower stops paying their mortgage.

There are either first lien or second lien positions to occupy. You wouldn’t expect this, but second liens can often be better due to their deep discounts.

Resources mentioned:

Learn more about Aspen Funds:

www.AspenFunds.us

Get mortgage loans for investment property:

RidgeLendingGroup.com

Show Notes:

www.GetRichEducation.com/366

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.

New Const. Florida SFHs & multifamilies:

www.B2Rdirect.com

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: GREepisode366_.mp3
Category:general -- posted at: 4:00am EDT

Learn how to qualify for an income property loan today.

We discuss what just made mortgage interest rates for investment property drop 1% overnight.

First, I discuss the difference between adequate safety vs. too much safety for tenants in investment properties.

Too many safety regulations have a cost that gets passed onto tenants and even increases homelessness. 

Caeli Ridge, President of Ridge Lending Group joins me.

A few weeks ago, mortgage interest rates for income property fell a full 1% due to the suspension of added risk layers that were added back in March. 

For an income property loan, you need: 1) 15-20% down payment and ~4% closing costs. 2) Credit score of 680 or better, 3) Show sourced & seasoned liquid assets, and 4) 50% maximum debt-to-income ratio. 

There are pros and cons of paying monthly PMI.

Today’s “typical” income property interest rate = 3.75%.

What happens when you try to get more than 10 income property loans? We discuss the terms, called “non-QM” loans.

Get started on your income property loan at: www.RidgeLendingGroup.com

Resources mentioned:

Get mortgage loans for investment property:

RidgeLendingGroup.com

Show Notes:

www.GetRichEducation.com/365

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.

New Const. Florida SFHs & multifamilies:

www.B2Rdirect.com

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: GREepisode365_.mp3
Category:general -- posted at: 4:00am EDT

When money supply is high, this lowers interest rates. I explain why.

Interest rates & inflation are positively correlated.

Interest rates are usually higher. This upside-down today. 

When interest rates rise, real estate prices rise too (Yes, not fall). Learn why.

Join me this Thursday, Sept. 30th, for a live Texas Properties webinar. Learn more here: www.GetRichEducation.com/Texas

Brien Lundin, organizer of the world’s longest-running investment conference, joins me. It’s the 47th Annual New Orleans Investment Conference. He’s also editor of the Gold Newsletter.

I will attend the event in-person.

Meet me Oct. 19th to 22nd. Sign up here: New Orleans Investment Conference.

Brien does not believe interest rates will rise appreciably anytime soon, nor will the Fed taper. He feels that this will be good for real estate.

The Fed must continue with massive currency creation.

Like many, Brien feels that inflation is not transitory.

Why isn’t the gold price higher than $1,700 - $1,900 per ounce?

Brien likes owning physical bullion. He thinks that crypto is worthwhile.

Resources mentioned:

Sign Up & Meet Me At the New Orleans Investment Conference: GetRichEducation.com/Events

Brien Lundin’s Gold Newsletter:

www.GoldNewsletter.com

Show Notes:

www.GetRichEducation.com/364

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.

New Const. Florida SFHs & multifamilies:

www.B2Rdirect.com

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: GREepisode364_.mp3
Category:general -- posted at: 4:00am EDT

Should you buy for negative cash flow? Afterall, rents are rising fast; maybe they will catch up. I have a firm answer for you.

With a tight rental market, landlords can skimp on repairs because tenants have few alternative places to live.

Do the right thing. Make repairs. Don’t be a slumlord.

Property bidding wars are subsiding.

Meet me in-person Oct. 19th to 22nd at the New Orleans Investment Conference.

A provider of brand new construction Florida & Georgia investment properties joins me to discuss industry trends, including the challenge of supply shortages.

Developing vast tracts vs. infill lots.

Tenants love living in a new construction. This provider builds SFRs up to 13-unit buildings with vinyl plank floors and stainless steel appliances.

They sell investment properties to individual investors like you, with SFRs in the $200Ks. Start buying property at: GetRichEducation.com/Southeast

Resources mentioned:

Buy new-build FL & GA investment property. Start: 

GetRichEducation.com/Southeast

Sign Up & Meet Me At the New Orleans Investment Conference: GetRichEducation.com/Events

Show Notes:

www.GetRichEducation.com/363

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.

New Const. Florida SFHs & multifamilies:

www.B2Rdirect.com

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: GREepisode363_.mp3
Category:general -- posted at: 4:00am EDT

Steep rent increases are spreading like a… pandemic.

Some metros are seeing annual rent increases of 10% to 15%.

It's all part of real estate's new "space race".

It’s easier to get big rent increases *between tenancies*, not with your long-term tenants.

GRE’s own Aundrea Newbern joins us to answer, “Should you become a real estate agent?”

Aundrea has her RE license in GA and is now training in her new home state of MI.

Pros of obtaining your license: more information, better access to MLS, training, networking, and income from representing buyers & sellers. 

Cons of obtaining your license: your time, upfront cost & ongoing fees, splitting commissions with your broker, disclosures and liability, traditional licensee activity has little to do with investors. 

Summary: You need to use your license for at least 2-3 deals per year to potentially make it worthwhile.

For real estate in MI and GA, e-mail Aundrea at: aundrea@getricheducation.com 

Resources mentioned:

Show Notes:

www.GetRichEducation.com/362

Contact Aundrea:

aundrea@getricheducation.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.

New Const. Florida SFHs & multifamilies:

www.B2Rdirect.com

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: GREepisode362_.mp3
Category:general -- posted at: 4:00am EDT

Rents are skyrocketing, up 11.4% just since the start of this year per Apartment List.

Increases like this could mean a 25% increase in your cash flow.

Rod Khleif has made big failures. I mean that in the best way. Ultimately, he was willing to fail often in order to become the giant success that he is today.

He lost $50M in the 2008 crash, even though his properties were at 30% LTV (70% equity).

Rod is a multifamily apartment building investor and syndicator. He motivates many with his successful seminars.  

We discuss “The Law Of The First Deal”.

Who you spend time with is who you become.

He’s an active RE buyer now, with 296 units under contract in San Antonio.

However, he sees an economic contraction coming.

To hedge against a potential RE market downturn, Rod likes to avoid C-Class property. He likes investing in “A” and “B” areas in southern states.

Resources mentioned:

Show Notes:

www.GetRichEducation.com/361

Rod Khlief’s website:

RealEstateWithRod.com

Rod’s podcast:

Lifetime CashFlow Through Real Estate 

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.

New Const. Florida SFHs & multifamilies:

www.B2Rdirect.com

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: GREepisode361_.mp3
Category:general -- posted at: 4:00am EDT

Today’s guest has been a GRE listener since 2019. 

He’s an MBA and Industrial and Manufacturing Engineer at a Fortune 500 Company. He still works at this full-time job.

Eric Schodowski learned about GRE and listened from Episode 1. Leverage, arbitrage, and inflation-profiting were new concepts to him.

When he switched jobs, he was able to access 401(k) and pension funds. Then, rather than living below his means, he expanded his means.

Eric Schodowksi has added 11 rental units: a four-plex in his home market of Baton Rouge, LA,  and turnkey properties in: Memphis, west Florida, and northwest Indiana.

His returns have been as high as 120% per year. 

Eric prefers turnkey real estate investing because it’s “hands-off”. Turnkeys are designed to perform for investors.

Resources mentioned:

Show Notes:

www.GetRichEducation.com/360

Eric’s e-mail address:

Eric.LaBlue@gmail.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.

New Const. Florida SFHs & multifamilies:

www.B2Rdirect.com

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: GREepisode360_.mp3
Category:general -- posted at: 4:00am EDT

A 60% housing drop is what I’m talking about today. That's the real estate crash.

What has driven housing prices 23.4% higher year-over-year? Scarcity, utility, and demand.

I’m talking about a housing *supply* crash, not a price crash.

The guys from Wealth Without Wall Street, Joey Mure and Russ Morgan, join us.

They discuss why Wall Street makes money managers profitable, not individual investors.

Most individual investors are so used to abandoning what they really want, that it’s difficult to remember what their dream even is anymore. 

Racing to “zero debt” is a losing game for most people.

Resources mentioned:

Show Notes:

www.GetRichEducation.com/359

WWWS’s financial passport resource:

WealthWithoutWallStreet.com/Passport

CNBC: Rent Prices Rising Faster:

https://www.cnbc.com/2021/08/11/rental-bidding-wars-

heat-up-as-economy-improves-in-tight-housing-market.html

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: GREepisode359_.mp3
Category:general -- posted at: 4:00am EDT

Fifty years ago, money changed forever. Robert Kiyosaki joins us. He’s the “Rich Dad, Poor Dad” author.

President Richard Nixon effectively removed the dollar from the gold standard on August 15th, 1971. We play the audio clip.

Inflation ensued, exceeding 10% in the 1970s and 1980s.

What is money, anyway? I answer.

Gresham’s Law - bad money drives out good.

Kiyosaki tells us why he promotes freedom and economic decentralization.

My solutions to monetary inflation: 1) Real estate debt. 2) Gold. 3) Bitcoin. 4) Spend. 

Resources mentioned:

Show Notes:

www.GetRichEducation.com/358

Nixon removing dollar from gold standard:

https://www.youtube.com/watch?v=4-cB1Z9qceI

Jerome Powell on dollar printing:

https://www.youtube.com/watch?v=lK_rYS8L3kI

Buy real estate:

www.greturnkey.com

Buy gold:

www.apmex.com

Buy bitcoin:

www.coinbase.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: GREepisode358_.mp3
Category:general -- posted at: 4:00am EDT

Homes in car-dependent areas have appreciated at 33%; mass transit areas 16% over the last eighteen months. Suburban real estate wins.

Alabama and Tennessee have: net in-migration, low cost of living, high rents with a low purchase price, low property tax, jobs, and housing affordability.

SFRs and duplexes are offered in: Chattanooga, Birmingham, and Huntsville.

In many Alabama markets, low income areas have appreciated more than high income areas.

Chattanooga duplexes: $2,200 rent / $240,000 price. 0.9% RV ratio.

SFRs are 3 bed, 2 bath: $1,300-$1,500 / $160K-$210K price.  

Get the report & connect with the provider at: GetRichEducation.com/Chattanooga

Resources mentioned:

Show Notes:

www.GetRichEducation.com/357

Alabama & Chattanooga Investment Property:

GetRichEducation.com/Chattanooga

GetRichEducation.com/Birmingham

GetRichEducation.com/Huntsville

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: GREepisode357b_.mp3
Category:general -- posted at: 4:00am EDT

You achieved 95% total rate of return if you bought a turnkey property one year ago, on average. 

How can that be true? It’s the “Five Ways Real Estate Pays” revisited.

Get our free, wealth-building “Don’t Quit Your Daydream” newsletter. It’s the real estate industry’s best at: GetRichEducation.com/Letter

Doug Fudge joins us. He’s President and CEO of Fudge Insurance. They are a brokerage where customers get a choice of insurance provider.

Fudge provides insurance in: CA, CO, FL, GA, NC, TN and KY.

He suggests higher deductibles and lower premiums for well-off investors.

Doug & I discuss trade-offs between replacement cost and actual cash value insurance.

Vacant land is generally not insured.

Every policyholder in Florida has had a rate increase in the last year. This is largely due to frivolous lawsuits.

Get a lower insurance rate with property that is: new-build, concrete block (not frame), further inland (not coastal), hip roof (not gable).

Flood and earthquake coverage are separate policies.

We discuss how to administer renters’ insurance and umbrella insurance policies.

Learn which insurance document you should never sign.

Resources mentioned:

Show Notes:

www.GetRichEducation.com/356

Fudge Insurance:

www.FudgeInsurance.com

(407) 965-4253

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: GREepisode356_.mp3
Category:general -- posted at: 4:00am EDT

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

Legendary investor and business mogul Jim Rogers joins us from Singapore.

Inflation is on the rise. I was just asked to leave a tip at Subway for the first time.

Inflation nudges most people toward poverty. It moves GRE listeners toward prosperity.

Rents for detached SFHs are up 7.9% year-over-year.

The NAR just told us America is 6.8 million housing units short of demand.

World governments are printing, spending, and driving interest rates to all-time lows. Historically, this has led to higher inflation.

I ask Jim Rogers about inflation and the prospects for U.S. hyperinflation. 

He believes interest rates will go higher “in the next few years”. He likes tying up 30-year fixed rate mortgages.

Jim thinks the free market might take control of interest rate policy away from The Fed (wow!).

“The next recession is going to be the worst in my lifetime.” -Jim Rogers

Jim Rogers & I also discuss: MMT, agricultural real estate, cryptocurrency, and advice for a young person.

I explain what CBDCs are - Central Bank Digital Currencies.

Resources mentioned:

Jim Rogers’ resources:

www.JimRogers.com

SFH Rents See Huge Gains:

https://www.cnbc.com/2021/06/15/rents-for-single-family-homes-just-saw-the-largest-gains-in-nearly-15-years.html

America Is Short 6.8 Million Homes:

https://www.businessinsider.com/housing-market-short-millions-homes-homebuilding-real-estate-nar-report-2021-6

Show Notes:

www.GetRichEducation.com/351

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: GREepisode351_.mp3
Category:general -- posted at: 4:00am EDT

Rents are up, up, up. This is because surging home prices are displacing the first-time affordable homebuyer.

Rich Dad Sales Advisor Blair Singer joins us. He helps you get that “little voice” in your head to tell you the right thing.

When you master your little voice, you more often move from employee to business owner or entrepreneur. It takes self-belief. Begin with the end in mind.

Blair tells you why you don’t have to be an attack dog in sales. Just help others!

I try my sales pitch with Blair, then he tells me that my sales style is a retriever.

In a selling situation, the person with the highest energy wins.

Resources mentioned:

Blair Singer’s resources:

www.BlairSinger.com

Show Notes:

www.GetRichEducation.com/350

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: GREepisode350_.mp3
Category:general -- posted at: 4:00am EDT

Learn the housing price level every year from 1963 to present with an entertaining retrospective - from $18K to $372K.

Top takeaways over time: 1) Real estate usually goes up. 2) Real estate does not always go up.

Housing rents and prices often correct toward each other.

Home prices are rising globally. The highest: Turkey, New Zealand, Luxembourg, and Slovakia. Some of the lower rises are in East Asia.

Canadians can hardly believe that Americans get 30-year fixed rate mortgages, 1031 Like-Kind Exchange.

Redfin CEO Glenn Kelman believes that high housing demand is cooling off and the market is normalizing.

Building a home has never been more expensive.

I cover a case study for you about how new-build Boise single-family ranch homes had a sale price increase of $472K up to $747K over the last two years.

Your tenant is probably doing better this year than last. Unemployment is down to 5.8%.

Rent amounts are more stable than home prices.

I draw the line. Current rent vs. own dividing lines are 0.7% RV ratio and $250K purchase price.

You can still find decent $100K - $150K properties in: Memphis, Little Rock, Cincinnati and Dayton

Resources mentioned:

Median New House Prices (Census, HUD):

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

Bloomberg: Global Home Price Rise:

https://www.bloomberg.com/news/articles/2021-06-03/global-home-prices-rise-most-since-2006-fueling-bubble-concerns

Music samples used with permission.

Show Notes:

www.GetRichEducation.com/349

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: GREepisode349_b.mp3
Category:general -- posted at: 4:00am EDT

With only small rent increases, your cash flow can rise 20-50%. Learn how to successfully achieve these small rent increases.

Also, learn what to never say to your tenant. It’s a mistake that I made.

Make gradual rent raises and provide justification for the increase.

Florida’s surging net in-migration provides tons of rent-paying tenants. The numbers work here for out-of-state investors.

Learn more & get properties at www.GetRichEducation.com/CentralFlorida

These new construction SFRs are often $200K. Investors must come in all-cash and do a cash-out refinance later. 

This BRRR is: Buy, Rent, Refinance, Repeat. (No rehab.)

Rent-to-price ratios are near 0.8%. Insurance premiums are often extremely low on these brand new builds.

Renter demand is astounding. There are more than 1,000 tenants on waiting lists for these new-build Florida SFRs on quarter-acre infill lots.

Get started with new construction Florida income property at: www.GetRichEducation.com/CentralFlorida

Resources mentioned:

Find new-build Florida income property:

www.GetRichEducation.com/CentralFlorida

Show Notes:

www.GetRichEducation.com/348

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: GREepisode348_.mp3
Category:general -- posted at: 4:00am EDT

Will the rise of 3-D printed homes make housing construction so cheap that values of all existing homes will depreciate?

I explore this with you. 

It’s the third installment of our 3-part housing supply crisis series.

3-D printing uses lots of concrete. It is the world’s most popular building material.

No matter how one builds, there are still costs of: labor, land, materials, design & planning, architecture & engineering, site work & drainage, and regulation.

A recent NAHB study shows that the regulatory cost of building a new single-family home is a staggering $94,000. 

Resources mentioned:

Show Notes:

www.GetRichEducation.com/347

$94K Regulatory Cost To Build A New Home:

https://www.nahb.org/news-and-economics/industry-news/press-releases/2021/05/regulatory-costs-add-a-whopping-93870-to-new-home-prices

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: GREepisode347_.mp3
Category:general -- posted at: 4:00am EDT

What one thing could crash the housing market … even more than expiring forbearance? It’s something that NO ONE is talking about. 

Is the economy REALLY coming back? 

Where is inflation headed? 

Hyperinflation & real estate is discussed.

I tell you what surprising investment I personally made last month. 

Then, what’s an important part of your investor mindset that you probably haven’t thought about before? 

Through Q3 of last year, homeowners have an all-time inflation-adjusted high of $257K in equity.

Some NYC mayoral candidates have embarrassing perceptions of Brooklyn housing costs. 

Aundrea Newbern from GRE Operations & I review a book we like: “NOT Your How-To Guide To Real Estate Investing” by Ali Boone.

My new 5-part Video Course on the “5 Ways Real Estate Pays” is free and open to all. Go to “Get Rich Education” YouTube now.

Resources mentioned:

Show Notes:

www.GetRichEducation.com/346

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: GREepisode346_.mp3
Category:general -- posted at: 4:00am EDT

A shipping container costs less than $5,000. Why doesn’t America build more housing with them?

Gregg Cohen of JWB Real Estate Capital in Jacksonville, FL reveals how their 18-unit shipping container apartment complex created financial loss.

The shipping container apartments are 320 square feet each.

Learn about: what a vertically integrated company is, build-to-rent homes, turnkey real estate, the pros and cons of shipping container housing, permitting, and zoning constraints. 

Making shipping containers livable adds expense: windows, heating, cooling, electricity, water, ventilation and fire safety. 

JWB blew their budget! $1.3M budget vs. $2M reality. 

Gregg estimates that shipping container building costs them 20-30% more than conventional wood frame construction.

Their non-pandemic rent collection = 98.5%

In-pandemic rent collection worst = 97%

2020 rent collection total = 98%

JWB has available inventory of Jacksonville income property now - during the housing supply crisis. How can they do that? He tells us.

If you seek more income property, start at: www.CashFlowAndGrowth.com or phone (904) 677-6777.

Resources mentioned:

Show Notes:

www.GetRichEducation.com/345

JWB’s available Florida income property:

www.CashFlowAndGrowth.com

JWB’s Facebook Group:

www.JWBFacebookGroup.com

Get mortgage loans for investment property:

RidgeLendingGroup.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: GREepisode345_.mp3
Category:general -- posted at: 4:00am EDT

Kristin B. Tate (FOX News, CNN, MSNBC) joins me to discuss Biden tax and housing policies, inflation, and investing.

President Joseph R. Biden, Jr.’s bill to create a $15,000 first-time homebuyer tax credit is wrong. It helps the demand side. America needs help on the supply side. I give ideas.

Biden wants to severely limit the 1031 Tax-Deferred Exchange for real estate investors. Only your first $500K of gains would be exempt from capital gains tax.

This would cause a rush of sales in the real estate market. It would also hurt long-term liquidity for larger apartment buildings. 

Zumper’s National Rent Report shows substantial rent increases in many Midwest and South real estate markets. I detail them.

Next, Kristin B. Tate tells us why printing trillions of dollars means that investors should get out of the dollar.

We discuss Joe Biden’s proposed increases to both income tax and capital gains tax.

Kristin favors buying real estate assets to hedge against inflation: real estate, physical gold & silver, and cryptocurrency.   

Resources mentioned:

Kristin B. Tate on Twitter:

@KristinBTate 

Kristin B. Tate’s website & books:

www.KristinBTate.com

Show Notes:

www.GetRichEducation.com/344

Zumper National Rent Report:

https://www.zumper.com/blog/rental-price-data/

Get mortgage loans for investment property:

RidgeLendingGroup.com

New Construction Turnkey Property:

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: GREepisode344_.mp3
Category:general -- posted at: 4:00am EDT

Today, available homes are as scarce as a rare earth mineral. 

Under 500K homes are available for sale today, well below the historic 1M-1.5M at any given time Source: Federal Reserve.

High demand exists independent of low inventory.

Developers and homebuilders need years to help us build our way out.

The development team of Rob Fuller and Jared Garfield tell us how today’s developers cope with the rising cost and unpredictable supply of: copper, lumber, PVC and other building materials.

Their project in Colorado Springs, CO is in the path of progress. In 2019, U.S. News & World Report named the area the #1 Economy In America.

The Denver Post stated that by 2050, Colorado Springs will be larger than Denver. (Wow)

The project is 800 acres of higher-end homes on 2.5-acre lots. Homes start in the high $600Ks. That does not work for cash flow via direct ownership.

This is not “spec building”. Homeowners have already funded with non-refundable earnest money.

You can project a construction loan to the project yourself. Cash-on-cash returns are 9% to 15%, depending on the investment amount. $100K minimum. Learn more about this project at www.GetRichEducation.com/ColoradoSprings

Investors have substantial guarantees and financial buffers. 

This is an A+ real estate asset class.

You can view weekly project drone footage. On-site visits are available. I might attend one where you could meet me in-person in Colorado Springs.

Resources mentioned:

Private Lending in the Path Of Progress:

GetRichEducation.com/ColoradoSprings

U.S. Active Home Listing Count:

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

Show Notes:

www.GetRichEducation.com/343

Get mortgage loans for investment property:

RidgeLendingGroup.com

New Construction Turnkey Property:

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: GREepisode343b_.mp3
Category:general -- posted at: 4:00am EDT

Three reasons NOT to buy income property: 1) It is illiquid. 2) Speculative mania without cash flow. 3) You want zero involvement.

With that understanding, direct ownership of rental real estate still has the best risk-adjusted return today.

President Biden wants to keep people in their homes. He doesn’t want residents removed from their homes under his watch - both homeowners and renters.

Higher mortgage interest rates lead to both higher prices and lower supply. This is counterintuitive to many. I explain why. 

The last six times that interest rates rose in America, housing prices rose too.

I read the menu prices from McDonald’s restaurant in 1974. It makes inflation’s effect apparent.

Then Ken McElroy joins me. Together we discuss how inflation affects consumers and real estate investors from an in-person video at his Scottsdale, AZ office.

Ken reminds us how high inflation can go. It was 15% for a time in the 1980s.

Resources mentioned:

KenMcElroy.com

Show Notes:

www.GetRichEducation.com/342

Get mortgage loans for investment property:

RidgeLendingGroup.com

New Construction Turnkey Property:

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: GREepisode342_.mp3
Category:general -- posted at: 4:00am EDT

These homes are tiny, eco-friendly, and affordable, with the option of having smart home technology.

Panama has friendly people, safety, a low crime rate, and robust economy.

Organic food is grown on-site, recycled graywater waters your garden, there are community orchards, hiking trails, a yoga area, bird-watching stations, pool, river, and a sense of community. 

This tiny home community in the highlands often experiences temperatures in the 70s and 80s fahrenheit. It is a lush greenscape, not close to the beaches.

These tiny homes have 300 - 600 sf of interior space. 

Rachel Jensen joins us to tell us more. Only a few tiny homes are available now at: www.getricheducation.com/tinyhomes

Foreign owners can get full title to their property.

You can earn rental income from your tiny home, with in-house property management. 

You can fund your property via: all-cash, 50% loans, 80% loans, IRAs, gold, or cryptocurrency. Property prices start at $119K.

Second residency in Panama is an option for property owners. The next property tour is June 23rd - 27th, 2021. 

Learn more and get the report at: www.getricheducation.com/tinyhomes

Resources mentioned:

Panama Tropical Tiny Homes:

www.GetRichEducation.com/TinyHomes

Show Notes:

www.GetRichEducation.com/341

Get mortgage loans for investment property:

RidgeLendingGroup.com

New Construction Turnkey Property:

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: GREepisode341b_.mp3
Category:general -- posted at: 4:00am EDT

Your home is a liability, not an asset.

That’s according to Robert Kiyosaki. This is because your home takes money out of your pocket every month. An asset puts money into your pocket. 

Today’s guest, author and economist Daniel Amerman, has a different perspective. 

He states that forces like inflation and a mortgage (leverage) make your primary residence a strong investment vehicle.

Daniel’s research shows that historically, homeowners nearly double their equity in three years, triple it in seven years, and quadruple it in ten years (80% LTV loan).

We discuss whether home price increases are derived from appreciation or inflation.

First, I remind you why financially-free beats debt-free. Convert equity to cash flow. Extra mortgage principal paydown does the opposite - it converts cash flow to equity.

Classically, on a balance sheet, your home is an asset.

Remember that a homeowner’s return is not generated from equity. It is generated from the local housing market.

Hear my rant about how carpet beats hardwood floors.

Resources mentioned:

Daniel Amerman’s website:

www.DanielAmerman.com

Show Notes:

www.GetRichEducation.com/340

Get mortgage loans for investment property:

RidgeLendingGroup.com

New Construction Turnkey Property:

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: GREepisode340_.mp3
Category:general -- posted at: 4:00am EDT

Learn how to bring as little money as possible to the property closing table. 

Ridge Lending Group President Caeli Ridge tells us how to do this. She also predicts the future interest rate direction.

Mortgage interest rates hit all-time lows three months ago. Freddie Mac has tracked rates since 1971.

The 30-year fixed rate mortgage debuted in America in 1948. It’s an incredible tool that few, if any, other world nations have.

Before this, it took a 50% down payment and refinancing every 3-5 years.

Mortgage rates have been falling for 700 years! From the year 1311, we look at interest rate history in the French Crown, Spanish Crown, Italian merchants in Milan, Genoa.

The latest marker of today’s low housing supply is the fact that there are currently more real estate agents than available homes.

Is rush hour traffic a thing of the past? We explore this.

Caeli Ridge helps us understand the ominous new 7% Fannie Mae funding limit on single-family mortgages on second homes and investment properties. Result = higher loan prices.

Does it make sense to pay discount points at the closing table? Discount points are like prepaid interest. We explore pros and cons.

Often, a seller can pay up to 2% of your purchase closing costs.

Caeli predicts the future direction of interest rates. I’m refinancing properties with Ridge myself right now. Start at: www.RidgeLendingGroup.com

Resources mentioned:

Get mortgage loans for investment property:

RidgeLendingGroup.com

Show Notes:

www.GetRichEducation.com/339

Early 1900s Mortgage Rate Charts:

https://www.thetruthaboutmortgage.com/check-out-these-mortgage-rate-charts-from-the-early-1900s/

Interest Rates Have Been Falling For 700 Years:

https://www.visualcapitalist.com/700-year-decline-of-interest-rates/

There Are More RE Agents Than Homes For Sale:

https://www.wsj.com/articles/new-realtors-pile-into-hot-housing-market-most-find-it-tough-going-11616328002

New Construction Turnkey Property:

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: GREepisode339_.mp3
Category:general -- posted at: 4:00am EDT

The Fed is about to unleash a tidal wave of liquidity that you probably don’t know about.

I was recently at my favorite Mexican takeout restaurant. It was the first time they began asking for tips. This is inflation. It is likely not measured in CPI or Core PCE.

Richard Duncan from MacroWatch joins us to discuss how the coming monetary tsunami will stoke asset prices. 

This can continue the “price runup party” in real estate, stocks, crypto, and other assets.

Key learning: The Fed changes inflation policy when they see wage price growth, not commodity price growth.

Inflation won’t be high enough to cause interest rates to rise anytime soon.

We know that the Fed currently creates $120B per month. What few know about is the new, simultaneous $900B that the Fed is releasing from their Treasury General Account by the end of June. 

More currency + monetary velocity = inflation? No. Richard says there’s more to it, like credit expansion.

The newly passed $1.9T American Rescue Plan, plus a new Biden-proposed multi-trillion dollar infrastructure bill could stoke inflation in the short to medium-term. Richard does not believe high inflation is sustainable long-term. 

Get 50% off Richard Duncan’s “MacroWatch” when you use Discount Code “GRE” at: www.RichardDuncanEconomics.com

Though consumer price inflation should stay low, a lot of asset price inflation should continue.

Richard also reveals a scenario where interest rates could decline.

Resources mentioned:

Get 50% off MacroWatch. Use Discount Code “GRE”:

www.RichardDuncanEconomics.com

Show Notes:

www.GetRichEducation.com/338

Mortgage Loans:

RidgeLendingGroup.com

New Construction Turnkey Property:

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: GREepisode338_.mp3
Category:general -- posted at: 4:00am EDT

With shrinking national housing supply amidst surging demand, some investors cannot find sufficient inventory.

People are moving to places like: Texas, Tennessee, and Florida.

Suburban properties have higher appeal with today’s work-at-home trends.

New construction properties in infill areas have advantages: an established area, neighbors with equity. 

Learn about a system to help keep your property taxes discounted.

With all this in mind, learn about what capitalizes on all of these trends - and there’s available inventory.

Purchase prices are from the $140Ks & up - new construction - SFHs up to fourplexes and larger. Who knows how long this will last? Get started at: GetRichEducation.com/Texas.

You will receive a report and an invitation to a live Texas properties webinar with me this coming Friday, March 26th at 3PM ET.

Resources mentioned:

Show Notes:

www.GetRichEducation.com/337

Learn more & attend Friday’s Texas properties webinar:

www.GetRichEducation.com/Texas

Mortgage Loans:

RidgeLendingGroup.com

New Construction Turnkey Property:

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: GREepisode337_.mp3
Category:general -- posted at: 4:00am EDT

I hope that it changed you.

Don’t quit your daydream.

-Keith

Resources mentioned:

Show Notes:

www.GetRichEducation.com/336

First American Real HPI:

https://www.firstam.com/economics/real-house-price-index/

Mortgage Loans:

RidgeLendingGroup.com

New Construction Turnkey Property:

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: GREepisode336_.mp3
Category:general -- posted at: 4:00am EDT

To get money for real estate, you don’t always have to save up every dollar yourself.

You can use: 

Equity from another property - my favorite

Seller-paid closing costs

Seller financing

House hacking

Rent income from duplexes and fourplexes

Lease-Purchase Agreement

Mortgage assumptions

Seller-held second mortgages 

Syndication

Partnerships

Ken McElroy joins me to discuss how to attract investors to your real estate deal and more.

He outlines borrowing from your 401(k) and using your retirement plan for real estate.

Teach others about what you know. Just give with nothing in return expected. People will trust you later when you have a real estate deal.   

Resources mentioned:

Ken’s free resource:

www.kenmcelroy.com/getricheducation

Show Notes:

www.GetRichEducation.com/335

Mortgage Loans:

RidgeLendingGroup.com

New Construction Turnkey Property:

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: GREepisode335_.mp3
Category:general -- posted at: 4:00am EDT

Will a housing price crash occur when homes can be foreclosed upon again?

Sean O’Toole of PropertyRadar.com and I compare 2007’s housing crash with 2021’s health crisis-related recession.

“Home prices never go down.” That’s what many people said in 2005! Wrong.

Learn the housing differences between the last recession and the current one: lending standards, housing supply, regulatory change, construction labor force, construction supply disruptions, household formation.

Sean tells why we will not have a big dump of housing supply on this market anytime soon.  

There will still be some delinquent homeowners after the forbearance period ends.

The Biden Administration plans to work with borrowers that have federally-backed mortgage companies and provide them with repayment plans.

Prediction from Sean: mortgage rates will dip below 2%. 

Resources mentioned:

PropertyRadar.com

Show Notes:

www.GetRichEducation.com/334

Mortgage Loans:

RidgeLendingGroup.com

New Construction Turnkey Property:

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: GREepisode334_b.mp3
Category:general -- posted at: 4:00am EDT

If you hold a savings account, you’re a lender. You lent money to the bank and they pay you under 1%.

You can lend for real estate, get a 6-12% cash yield with low hassle, and hold real estate as collateral.

This is some of the most passive, hassle-free income in all of real estate.

Learn more at: www.getricheducation.com/lending

Typically, a real estate company seeks to: buy a distressed home for $50K, pay another $20K to rehab it, then sell it for a profit. That $70K is what they seek private lenders for.

This means that the real estate company can provide the distressed seller with a quick, all-cash closing. (Remember, these properties can’t be financed with banks.)

Loan duration is often twelve months.

Dani Lynn Robison of Springboro, Ohio-based Freedom Real Estate Group tells us how Private Money Lending works.

Everyday investors like you can fund this with cash, retirement accounts and HELOCs.

Resources mentioned:

Begin with Private Lending at:

www.GetRichEducation.com/Lending

Show Notes:

www.GetRichEducation.com/333

Mortgage Loans:

RidgeLendingGroup.com

New Construction Turnkey Property:

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: GREepisode333_.mp3
Category:general -- posted at: 4:00am EDT

Today’s guest reveals how he gets $10,755 of monthly cash flow with four SFHs. They’re long-term rental tenants.

Get our free newsletter here: www.getricheducation.com/letter

I tell you why a man with $20 million of debt is a financial winner, making analogies to Brett Favre and Cy Young.

Ryan Chaw of Sacramento, CA joins us. A full-time pharmacist, he’s age 29, on track to retire from real estate income by age 31.

Unusually, he invests in California single-family homes (SFHs). It’s not an area known for cash flow. 

He rents them to carefully-screened college students. He self-manages, but hasn’t visited his properties in over a year.

In areas like Stockton, CA, he gets $3,000 rent from a $300K SFH.

Ryan uses his “PRIME” Method: Placement of ads, Review applicants’ social media, Identify tenant type, Measure responsiveness, and Ensure proof of income.  

He has 17 tenants in four SFHs. 

Ryan gets money for down payments with his W-2 job. He also uses a HELOC to reset his leverage and create arbitrage.

He travels the world too. He won’t delay all gratification.

Resources mentioned:

Show Notes:

www.GetRichEducation.com/332

Ryan Chaw’s free guide:

www.NewbieRealEstateInvesting.com

Mortgage Loans:

RidgeLendingGroup.com

New Construction Turnkey Property:

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: GREepisode332_.mp3
Category:general -- posted at: 4:00am EDT

Hear a mock negotiation between Chris Voss & I for a fourplex building today!

The former lead international hostage negotiator for the FBI, Chris is now America’s top negotiation coach.

In a negotiation: Who goes first? Does “anchoring” work?

In real estate, terms are often more important than price.

“Never be so sure of what you want that you wouldn’t take something better.” -Chris Voss, today's show

He does not use the term “win-win”. It’s a giveaway that someone is trying to pick your pocket.

The “other side” always has hidden cards that could benefit you.

Be curious. A positive mind frame makes you 31% smarter.

At times, it helps to address “fairness” at the beginning of a negotiation.

Let the word “no” out softly.

If there’s an elephant in the room, address it.

Chris uses the “mirroring” technique on me. He makes me think that conceding was own idea! Amazing.

He has free negotiation resources for you. For his newsletter, text blackswanmethod to 33777. Outside the U.S., go to: www.blackswanltd.com 

Silence and humor are effective negotiation techniques in certain situations.

I tell Chris my favorite negotiation line and get his opinion: “What flexibility do you have?”

Resources mentioned:

Show Notes:

www.GetRichEducation.com/331

Get free newsletter from Chris Voss:

U.S.: Text blackswanmethod to 33777

Outside U.S.: www.blackswanltd.com

Chris Voss’ book:

https://www.amazon.com/Summary-Never-Split-Difference-Analysis/dp/1683784391

Mortgage Loans:

RidgeLendingGroup.com

New Construction Turnkey Property:

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: GREepisode331_.mp3
Category:general -- posted at: 4:00am EDT

After your first 10 rental properties, what comes next?

Buying more than 10 financed properties of 1-4 units often incurs an interest rate about 2% higher.

Apartment buildings of 5+ units is an option.

You can become a real estate syndicator. It is sophisticated. This means you identify a big real estate complex and attract other investors’ money to the deal. 

Syndications often SEC-regulated. To attract investors, you must also build your brand.

You can be a private money lender with a stable 10% cash-on-cash return. Real estate is your collateral. See: www.getricheducation.com/lending

With agricultural real estate, the trees are the tenants. They don’t vacate the property and they’re low maintenance. The asset literally grows; land is titled to you. See: www.getricheducation.com/teak   

“Family offices” manage wealth for affluent families and individuals. They might cost $1M per year, meaning you’d often need assets of $100M+.

Direct real estate investors “feel the bumps”. I recently had a truck accident-damaged property that was in disrepair for 9 months!

This year, John Burns RE Consulting predicts existing home prices to rise +8%, new homes +9%.

It took Tesla 17 years to make a profit. You often do this in 1 month with real estate.

Damion Lupo drops by with crucial eQRP updates. An eQRP lets you: invest your retirement funds in nearly anything, $58,000 annual contribution limit, no custodian, and avoid a 37% UBIT tax hit (like you have with SD-IRAs).

Resources mentioned:

Get the free eQRP book; text “EQRP” in all capital letters to: 72000

Great turnkey provider for beginners:

www.MidSouthHomeBuyers.com

Rare provider with 1% rent-to-price ratio:

www.GetRichEducation.com/Dayton

Private Money Lending:

www.GetRichEducation.com/Lending

Teak hardwood trees:

www.GetRichEducation.com/Teak

New fourplexes in West:

www.GetRichEducation.com/Fourplex

New fourplexes in Southeast:

www.GetRichEducation.com/Southeast

Turn $100K into $300K in five years:

https://www.getricheducation.com/turn-100k-300k-five-years/

Show Notes:

www.GetRichEducation.com/330

Mortgage Loans:

RidgeLendingGroup.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.

New Construction Turnkey Property:

CashFlowAndGrowth.com

Best Financial Education:

GetRichEducation.com

Get our free “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: GREepisode330_.mp3
Category:general -- posted at: 4:00am EDT

Joe Biden’s economic plan for real estate investors is detailed.

Expect: higher income tax, extended eviction & foreclosure moratoriums, $15 minimum wage, $15K first-time homebuyer tax credit, more stimulus checks.

Can landlords still evict tenants for non-payment of rent? Yes. I explain how.  

With all this money printing, I expect inflation to stay low due to low velocity.

Ken McElroy joins me again today. He’s the Rich Dad real estate advisor.

Migration patterns per U-Haul favor these top 5 states: TN, TX, FL, OH, AZ. #1 for out-migration last year was CA.

72% of people move within the same state, per Ken.

Today’s tenant trends: Larger units, security gates, pets, outdoor lighting, small yards, remote rent collection. Proximity to central business districts is less important. Pets attract seniors.

Ken has increased income by embracing pets, and reduced expenses by requiring that tenants have Renters Insurance.

Learn about how he handled recessionary apartment income disruptions for his investors.

Resources mentioned:

See Ken McElroy’s predictions video:

www.KenMcElroy.com/GetRichEducation

Show Notes:

www.GetRichEducation.com/329

Mortgage Loans:

RidgeLendingGroup.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.

New Construction Turnkey Property:

CashFlowAndGrowth.com

Best Financial Education:

GetRichEducation.com

Get our free “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: GREepisode329_.mp3
Category:general -- posted at: 4:00am EDT

My housing prediction for the next few years is revealed at the beginning of the show.

Learn why higher interest rates mean less housing supply. 

Learn how to buy new construction income properties as inexpensively as $169K at: www.getricheducation.com/southeast

Last year: Real estate was up 11%, mortgage rates fell from 3.72% down to 2.67%, inflation fell from 2.5% to 1.4%, S&P 500 up 16%, dollar weakened, bitcoin surged 400%+, gold & silver had their best years since 2010, oil down 21%. 

“Build-To-Rent” (B2R) means that properties are constructed with tenant-occupants, not owner-occupants. 

Durable finishes are used, like cement hardie board, vinyl plank flooring, and granite countertops.

B2R single-family homes as low as $169K (new construction). Duplexes, triplexes, and fourplexes are also offered in Florida and Georgia at: www.getricheducation.com/southeast

Tenants in these B2R properties often have incomes of $100K+.

Today’s renters want a yard, even if it’s small. They don’t want a fireplace. With remote working trends, proximity to an urban area is now less important.

Resources mentioned:

Build-To-Rent FL & GA property:

www.GetRichEducation.com/Southeast

Show Notes:

www.GetRichEducation.com/328

Mortgage Loans:

RidgeLendingGroup.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.

New Construction Turnkey Property:

CashFlowAndGrowth.com

Best Financial Education:

GetRichEducation.com

Get our free “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

Chris Voss on Masterclass:

www.Masterclass.com

Direct download: GREepisode328_.mp3
Category:general -- posted at: 4:00am EDT

Has “debt-free” now become a poverty marker?

Debt is good when: 1) The interest rate is lower than inflation, and 2) When tenants pay your debt for you.

Get our free “Don’t Quit Your Daydream” Letter at: www.getricheducation.com/letter

Home equity is: unsafe, illiquid, and its rate of return is always zero.

If you pay an extra $100 toward your mortgage principal, you just converted your cash flow to equity. That’s the opposite of financial freedom.

Learn myriad reasons for removing equity from property: a litigious society, natural disasters, job loss, and more.

Paying down your low interest rate debt won’t create wealth. But using debt to create residual income streams can.

More equity = more risk.

Why would you even want to be debt-free?

Resources mentioned:

Show Notes:

www.GetRichEducation.com/327

Mortgage Loans:

RidgeLendingGroup.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.

New Construction Turnkey Property:

CashFlowAndGrowth.com

Best Financial Education:

GetRichEducation.com

Get our free “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: GREepisode327_b.mp3
Category:general -- posted at: 4:00am EDT

The largest building you can buy with the best loan terms is a residential four-unit building.

Noticing high fourplex demand years ago, one savvy developer has been successfully providing new build-to-rent fourplex communities in the U.S. Intermountain West.

Get the report and connect with the provider at: www.getricheducation.com/fourplex

These often have a price point of $750K or more, and require a 25% down payment. You’re rewarded with Fannie / Freddie 30-year loans at low interest rates.

High-growth Utah, Idaho, and Arizona markets are served with these new construction fourplexes.  

Learn how a developer selects land tracts at the edge of metro areas.

I use what is considered a profane term in the industry.

Resources mentioned:

New Build-To-Rent Fourplexes:

www.GetRichEducation.com/Fourplex

Show Notes:

www.GetRichEducation.com/326

Mortgage Loans:

RidgeLendingGroup.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.

New Construction Turnkey Property:

CashFlowAndGrowth.com

Best Financial Education:

GetRichEducation.com

Get our free “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: GREepisode326_.mp3
Category:general -- posted at: 4:00am EDT

A summary of major housing and economic stories this year.

Then, a framework for how you can achieve any goal is revealed. 

Our own Aundrea Newbern joins me.

She describes her concrete goal of going from her current $10K up to $30K of monthly residual real estate income.

Get our free “Don’t Quit Your Daydream Letter” here: www.getricheducation.com/letter

Resources mentioned:

Show Notes:

www.GetRichEducation.com/325

Mortgage Loans:

RidgeLendingGroup.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.

New Construction Turnkey Property:

CashFlowAndGrowth.com

Best Financial Education:

GetRichEducation.com

Get our free “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: GREepisode325_b.mp3
Category:general -- posted at: 4:00am EDT

Learn mistakes to avoid and how to buy a distressed property at a discount at a foreclosure auction.

First, the average borrower now has $194K in home equity due to high recent home price appreciation. Only 3% have a negative equity position.

Freddie Mac shows home prices up 9.7% year-over-year.

First American’s Real House Price Index accounts for home prices, interest rates, inflation, and affordability. The surprise? Real prices are down 26.8% since January 2000.  

Today’s guest, Colin Murphy, is an acknowledged expert in buying properties at foreclosure auctions. He reveals how it works in some Florida counties.

Death, divorce, drugs, and unemployment can all lead to a borrower missing mortgage payments and having their property fall into foreclosure.

Foreclosure auctions have moved online in states like Florida (but not Texas). Often, you must give a 5% deposit at bid time, 95% balance paid same-day.

2 minutes of bidding per property. 

Learn how high one should bid on a foreclosure property. You can find mortgage, lien and permit information online. You must know how to estimate renovation costs. Assume the worst.

Foreclosure moratoria have created low inventory levels in the market.

Resources mentioned:

More about Colin Murphy:

ColinInvestments.com

FATCO’s Real House Price Index:

https://www.firstam.com/economics/real-house-price-index/

Recent Homeowner Equity Gains:

https://www.cnbc.com/2020/12/10/homeowners-gain-1-trillion-from-pandemic-driven-housing-boom.html

Show Notes:

www.GetRichEducation.com/324

Mortgage Loans:

RidgeLendingGroup.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.

New Construction Turnkey Property:

CashFlowAndGrowth.com

Best Financial Education:

GetRichEducation.com

Get our free “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: GREepisode324_.mp3
Category:general -- posted at: 4:00am EDT

The deal is the debt. Why? Because mortgage rates are at all-time lows. People are buying property like crazy.

Learn why 30-year fixed rate mortgages are a great deal for the borrower and a bad deal for the lender. 

Caeli Ridge, President of Ridge Lending Group, tells us about qualifying for income property loans today. 

Your first 10 loans single / 20 loans married for 1-4 unit properties have the best rates and terms: 20-25% down, 50% max. DTI, super low interest rates.

For more loans, called “non-QM” loans: $135K minimum size, 75% LTV, higher interest rates. 

Opinion: Fannie & Freddie will stay in conservatorship, keeping mortgage rates low.

Conforming loan limits will increase from $510,400 to $548,250 (SFH), and higher for 2-4 unit properties.

Rate & term refinances - SFH: 80% LTV | 2-4 unit: 75% LTV

Cash out refinance terms - SFH: 75% LTV | 2-4 unit: 70% LTV

We get an update on appraisal climate. I educate you on the three appraisal approaches: cost, income, comparison.

Ridge does loans in 43 of the 50 states, all except: AK, ME, ND, NY, VT, WV, WY. 

Resources mentioned:

Mortgage Loans:

RidgeLendingGroup.com

Phone:

(855)747-4343

E-mail:

info@ridgelendingroup.com

Show Notes:

www.GetRichEducation.com/323

Top Properties & Providers:

GREturnkey.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.

New Construction Turnkey Property:

CashFlowAndGrowth.com

Best Financial Education:

GetRichEducation.com

Follow us on Instagram:

@getricheducation

Keith’s personal Instagram:

@keithweinhold

 

Direct download: GREepisode323_.mp3
Category:general -- posted at: 4:00am EDT

How would you value a four-plex in bitcoin?

The world’s largest cryptocurrency, bitcoin, needs more stable pricing to gain faith for widespread currency use.

Crypto pros: Generational, international, blockchain, increasing faith.

Crypto cons: Security, not widely accepted, short history, volatile, government intervention fear, no price bottom.

Learn the pros and cons of buying rehabbed & tenanted turnkey property vs. doing it all yourself. Find property here: www.GREturnkey.com

Three big reasons people don’t invest in real estate:

  1. They don’t understand the rates of return.
  2. They don’t know about turnkey real estate.
  3. Many think you must be a flipper or landlord.

Turnkey pros: Save time & hassle, leverage economies of scale, leverage professionals, geo-diversification. 

Turnkey cons: Higher initial cost, risk of suspicious pre-placed tenants. 

I explain why it’s best to own properties in 3 to 5 different markets from www.GREturnkey.com.

Resources mentioned:

Show Notes:

www.GetRichEducation.com/322

Top Properties & Providers:

GREturnkey.com

Mortgage Loans:

RidgeLendingGroup.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.

New Construction Turnkey Property:

CashFlowAndGrowth.com

Best Financial Education:

GetRichEducation.com

Follow us on Instagram:

@getricheducation

Keith’s personal Instagram:

@keithweinhold

 

Direct download: GREepisode322__.mp3
Category:general -- posted at: 4:00am EDT

A crystal ball prediction for the housing market does not exist. 

The best measure may be the forward-looking Homebuilder Confidence Index. It just hit an all-time high for optimism.

Interest rate direction has little to do with housing prices. But it helps.

Real estate is not an asset. Real estate derivatives are assets, whether it be a mortgage or a lease.

Gregg Cohen of JWB Real Estate Capital joins us. He’s a longtime provider of new construction turnkey rental property in Jacksonville, FL. See their properties at: CashFlowAndGrowth.com 

We discuss how appreciation makes long-term real estate investors more money than cash flow, amortization, tax benefits or inflation-profiting.

Resources mentioned:

Jacksonville new turnkey property:

CashFlowAndGrowth.com

FHFA Home Price Index:

https://www.fhfa.gov/DataTools/Tools/Pages/FHFA-HPI-Top-100-Metro-Area-Rankings.aspx?

Suburban Rents Rise:

https://www.realtor.com/news/real-estate-news/race-for-space-pushing-up-suburban-rents/

Show Notes:

www.GetRichEducation.com/321

CNBC on home price rise:

https://www.cnbc.com/video/2020/11/13/rise-in-home-prices

-will-be-tremendous-for-builders-analyst.html

Mortgage Loans:

RidgeLendingGroup.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.

New Construction Turnkey Property:

CashFlowAndGrowth.com

Best Financial Education:

GetRichEducation.com

Top Properties & Providers:

GREturnkey.com

Follow us on Instagram:

@getricheducation

Keith’s personal Instagram:

@keithweinhold



Direct download: GREepisode321_.mp3
Category:general -- posted at: 4:00am EDT

Learn how to keep insidious thieves from stealing your wealth - taxes and inflation.

Higher taxes = lower inflation. I tell you why.

The IRS does not recognize inflation in regard to capital gains.

I discuss property tax, income tax, and sales tax state-by-state. Many coastal states have high property tax and income tax; southern states have high sales tax. 

A recent Harris poll showed that work-from-home types value saving money on lunch and gas more than being with their family or having extra time! (Geez.)

Subscribe to our Don’t Quit Your Daydream Letter here

Tom Wheelwright joins me. Tax brackets are marginal, so use your childrens’ lower tax brackets.

The last dollar you earn is taxed at your highest taxable rate.

The first dollar of a tax deduction comes off your highest taxable rate.

Tax credits beat tax deductions.

Reducing your property tax can be fairly easy. 

Resources mentioned:

Connect with Tom:

www.Wealthability.com

Show Notes:

www.GetRichEducation.com/320

Mortgage Loans:

RidgeLendingGroup.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.

New Construction Turnkey Property:

CashFlowAndGrowth.com

Best Financial Education:

GetRichEducation.com

Top Properties & Providers:

GREturnkey.com

Follow us on Instagram:

@getricheducation

Keith’s personal Instagram:

@keithweinhold

 

Direct download: GREepisode320_.mp3
Category:general -- posted at: 4:00am EDT

Before you buy foreign property, consider: access in rainy season, infrastructure, water pressure, safety, community, and developer track record.

Learn about a real estate performance bond and why it’s important. 

Own tropical tiny homes, including over-the-water property, as low as $92K. Start here: www.getricheducation.com/tinyhomes

Subscribe to our Don’t Quit Your Daydream Letter here

These exotic, affordable homes in vacation destinations are in Belize, Nicaragua, and Panama - both beaches and mountains.

As a foreigner, you can own full title to these Central American properties.

These homes are truly “tiny”, often 300 - 400 square feet, a little larger than an RV.

You can live in the property, or rent it out.

The developer has been in business 20+ years. I personally met them nearly 5 years ago.  

You can get 50 - 80% financing. Use self-directed IRAs, gold, or crypto for purchase.

To get started, get the Tropical Tiny Homes Report and contact the provider through: www.getricheducation.com/tinyhomes

Resources mentioned:

Tropical Tiny Homes Report & Provider Contact:

www.GetRichEducation.com/TinyHomes

Show Notes:

www.GetRichEducation.com/319

Mortgage Loans:

RidgeLendingGroup.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.

New Construction Turnkey Property:

CashFlowAndGrowth.com

Best Financial Education:

GetRichEducation.com

Top Properties & Providers:

GREturnkey.com

Follow us on Instagram:

@getricheducation

Keith’s personal Instagram:

@keithweinhold

 

Direct download: GREepisode319_.mp3
Category:general -- posted at: 4:00am EDT

In this recession, people still ask me how housing prices and demand are surging. I explain.

Then, I discuss the highest cash-flowing hands-off investment I’ve ever heard of. Learn more here.

Subscribe to our Don’t Quit Your Daydream Letter here

Cash use is increasing, not declining. In fact, the CEOs of PayPal and Venmo even say that cash will be in use for decades.

An individual investor like you can own a lot of 6 ATMs.

ATMs are profitable because some users pay a $2-$3 surcharge to access a $20 bill.

$2,184 is your monthly cash flow. The operator has never missed a monthly payment nor their pro forma projection. ~19% ROI plus tax benefits like bonus depreciation.

In the pandemic, some ATM locations have fared worse, like airports; some better, like a Walgreens. Many people want to withdraw & store money in the pandemic.

If you’re an accredited investor, learn more about ATM investing and contact the provider through: www.GetRichEducation.com/ATM

Resources mentioned:

For ATM Report & Provider Contact:

www.GetRichEducation.com/ATM

Show Notes:

www.GetRichEducation.com/318

Mortgage Loans:

RidgeLendingGroup.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.

New Construction Turnkey Property:

CashFlowAndGrowth.com

Best Financial Education:

GetRichEducation.com

Top Properties & Providers:

GREturnkey.com

Follow us on Instagram:

@getricheducation

Keith’s personal Instagram:

@keithweinhold

Direct download: GREepisode318_.mp3
Category:general -- posted at: 4:00am EDT

“Miracle Morning” author Hal Elrod tells us that to turn the impossible into the inevitable, you need unwavering faith and extraordinary effort.

Subscribe to our newsletter here

“The Miracle Morning” has been translated into 37 languages and sold more than two million books. More than 500,000 people actively practice his work daily. 

Hal overcame a car accident where he was clinically dead, then a rare form of cancer. This made him genuinely grateful for every moment thereafter.

In your life, you will pursue what you feel is probable, not possible.

The purpose of your goal is not to reach a goal.

It’s to attain the qualities and characteristics of becoming the best version of yourself on your way there.

Hal’s new book is called “The Miracle Equation”. 

Resources mentioned:

Show Notes:

www.GetRichEducation.com/317

Hal Elrod’s website & books:

The Miracle Morning

Book recommended by Hal:

Man’s Search For Meaning - Victor Frankl

Mortgage Loans:

RidgeLendingGroup.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.

New Construction Turnkey Property:

CashFlowAndGrowth.com

Best Financial Education:

GetRichEducation.com

Top Properties & Providers:

GREturnkey.com

Follow us on Instagram:

@getricheducation

Keith’s personal Instagram:

@keithweinhold

 

Direct download: GREepisode317_.mp3
Category:general -- posted at: 4:00am EDT

Will home prices stop rising soon? No. I tell you why. It’s my prediction.

Subscribe to our newsletter here

Four reasons home prices will keep rising in the short and intermediate-term are:

  1. Undersupply. America is already undersupplied 2.5 - 3.3 million housing units.
  2. Pent-up demand. More 18-29 year-olds live with their parents now at any time since The 1930s Great Depression. When they get jobs & move out, pent-up housing demand will be released.
  3. Homebuilder roadblocks. The top factor is wildly elevated lumber costs that has made some builders stop building.
  4. Population growth. America grows at 4,800 people every day, nearly 2 million annually.

Many Americans have been suffering from a lapse in federal pandemic stimulus relief. Hear a Nancy Pelosi clip about this.

I discuss hands-on ways to improve your properties’ appeal: paint, flooring blemishes, light fixtures, cabinets, vanities, front door.

GRE’s own Aundrea Newbern joins us. Learn about finding properties and tenants with guaranteed rent income.

You can find these properties and tenants at: GetRichEducation.com/Section8

Concerns about the HUD Section 8 Program are: you must screen tenants harder, property inspections from the HUD case manager. 

Section 8 tenants have more motivation to pay rent because they don’t want to lose their housing voucher. They have longer tenancies and are less demanding during tenancies.

If you’re pre-qualified for a mortgage loan and want investment property with guaranteed rent income, start at: GetRichEducation.com/Section8

Resources mentioned:

Show Notes:

www.GetRichEducation.com/316

Find Section 8 properties & tenants:

www.GetRichEducation.com/Section8

Get the Don’t Quit Your Daydream Letter:

www.getricheducation.com/letter

CNN: Blitzer, Pelosi on stimulus:

https://www.cnn.com/videos/politics/2020/10/13/nancy-pelosi-intv-stimulus-bill-trump-offer-coronavirus-tsr-vpx.cnn

Post free to find Section 8 tenants:

GoSection8.com

U.S. and World Population Clock:

www.census.gov/popclock

Mortgage Loans:

RidgeLendingGroup.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.

New Construction Turnkey Property:

CashFlowAndGrowth.com

Best Financial Education:

GetRichEducation.com

Top Properties & Providers:

GREturnkey.com

Follow us on Instagram:

@getricheducation

Keith’s personal Instagram:

@keithweinhold

Direct download: GREepisode316_.mp3
Category:general -- posted at: 4:00am EDT

Learn how to avoid getting ripped off from a: 

Vacant land scam

Foreclosure relief scam

Loan flipping scam 

Escrow diversion scam

Rental ad scam

Common consumer scams

More

Subscribe to our newsletter here

Asset Protection Attorney Garrett Sutton joins us for the fourth time on the show.

His new Rich Dad Advisor book, Scam-Proof Your Assets, releases this month.  

Scammers sell other scammers lists of names of gullible people.

Tell scammers that you want to share their deal with your attorney or CPA. They’ll run away.

Those that get scammed tend to be: less educated, vain, both young & old, crave a good deal, feel isolated, and are more impressionable.

Scammers are often someone you already know; they’re close to you.

Resources mentioned:

Garrett Sutton’s New Book: 

Scam-Proof Your Assets

Corporate Direct for LLC Formation:

1-800-600-1760

CorporateDirect.com

Report and track scams at:

ftccomplaintassistant.gov

Mortgage Loans:

RidgeLendingGroup.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.

New Construction Turnkey Property:

CashFlowAndGrowth.com

Best Financial Education:

GetRichEducation.com

Top Properties & Providers:

GREturnkey.com

Follow us on Instagram:

@getricheducation

Keith’s personal Instagram:

@keithweinhold

 

Direct download: GREepisode315_.mp3
Category:general -- posted at: 4:00am EDT

Your goal might be $15K of monthly real estate income and a $3M net worth within twenty years.

To achieve this, I explain why getting trapped in the future is as bad as getting trapped in the past. 

Start early, understand there will be bumps in the road, don’t overanalyze, the worst case scenario almost never occurs, and don’t “time the market”.

Today’s guest offers both rehabbed and new construction rental homes in a thriving market where the numbers work - west Florida. 

If you’re pre-qualified for a mortgage (or paying all-cash), get started buying investment property at: GetRichEducation.com/WestFlorida.

Buying one property, one time won’t change your life.

When you’re young, you’re more likely to want a low-priced rental property with higher cash flow and higher maintenance = existing construction.

When you’re older, you’re more likely to afford a higher-priced rental property with lower cash flow and less maintenance = new construction.

House flippers have spending money; buy-and-hold investors build real wealth.

At its core, it’s simple - rent houses to people.

Resources mentioned:

West Florida Income Property:

GetRichEducation.com/WestFlorida

Mortgage Loans:

RidgeLendingGroup.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.

New Construction Turnkey Property:

CashFlowAndGrowth.com

Best Financial Education:

GetRichEducation.com

Top Properties & Providers:

GREturnkey.com

Follow us on Instagram:

@getricheducation

Keith’s personal Instagram:

@keithweinhold

Direct download: GREepisode314_.mp3
Category:general -- posted at: 4:00am EDT

Learn how income tax rates, capital gains tax rates, the 1031 Exchange, the estate tax and more will change - or not. 

The outcome depends upon whether Donald Trump gets a second presidential second term or Joe Biden is elected as the new president.

Subscribe to our weekly newsletter here.

Tom Wheelwright, the most recurrent guest in show history, joins Keith.

He’s the world’s foremost expert at reducing your taxes permanently. He can help you at Wealthability.com

Resources mentioned:

Tom’s company:

Wealthability.com

The Tax Foundation:

www.taxfoundation.org

Mortgage Loans:

RidgeLendingGroup.com

QRPs: text “QRP” in ALL CAPS to 72000 or:

eQRP.co

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

New Construction Turnkey Property:

NewConstructionTurnkey.com

Best Financial Education:

GetRichEducation.com

Top Properties & Providers:

GREturnkey.com

Follow us on Instagram:

@getricheducation

Keith’s personal Instagram:

@keithweinhold

Direct download: GREepisode313_b.mp3
Category:general -- posted at: 4:00am EDT

You can only have one job. But you can own as many rental properties or vending machines as you want.

Trillions flow through the economy. Build a device to divert this flow to you; you'll see that money is an abundant resource.

Dr. Michael Ehrlich from NJIT’s Martin Tuchman School Of Management joins us to discuss asset bubbles and real estate technology.

We discuss financial bubbles, narrowing credit spreads, debt, overleveraging, NYC overbuilding and financial technology.  

Dr. Ehrlich is a general advocate of borrowing for cash-flowing residential real estate today.

Solutions to avoid bubble damage include: residential real estate, water, agriculture, even connectivity.

I discuss real estate technology: 3-D printed homes, autonomous cars, iBuying, indoor drones, virtual tours & staging, remote online notarizations.

Subscribe to our weekly newsletter here

Resources mentioned:

NJIT’s Martin Tuchman School Of Mgmt.:

https://management.njit.edu/

Dr. Michael Ehrlich e-mail:

ehrlich@njit.edu

iBuyer:

Opendoor.com

Virtual staging:

Rooomy.com

Mortgage Loans:

RidgeLendingGroup.com

QRPs: text “QRP” in ALL CAPS to 72000 or:

eQRP.co

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Direct download: GREepisode312_.mp3
Category:general -- posted at: 4:00am EDT

What does the CDC eviction ban really mean to you?

Learn how to win home price bidding wars in today's hot market.

GRE's own Aundrea Newbern joins us!

Besides working with GRE, Aundrea is an active RE agent in Brunswick, GA. She owns 28 rental doors and has her MBA in Finance.

She owns long-term rental SFHs and apartments, including some Section 8 tenants. She self-manages.

Rock & Roll Hall Of Famer Flavor Flav “drops in” to congratulate the show on 3 million listener downloads.

Aundrea tells you nine ways to avoid being outbid in today’s hot real estate market:

1 - Pick a buyer agent that’s courteous to the selling agent.

2 - Write a letter or send a video to the seller.

3 - Agree to use the seller’s preferred title agent, lender.

4 - Offer more than the asking price. 

5 - Offer more earnest money than the customary 1-2%.

6 - Add an escalation clause.

7 - Simply ask what it takes to get your offer accepted same-day.

8 - State that you’ll pay out of pocket in case there’s a low appraisal.

9 - Consider waiving the inspection. (This is risky.)

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Resources mentioned:

CDC Eviction Moratorium:

https://www.nytimes.com/2020/09/16/business/eviction-moratorium-renters-landlords.html

Aundrea Newbern email:

Aundrea@GetRichEducation.com

Mortgage Loans:

RidgeLendingGroup.com

QRPs: text “QRP” in ALL CAPS to 72000 or:

eQRP.co

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

New Construction Turnkey Property:

NewConstructionTurnkey.com

Best Financial Education:

GetRichEducation.com

Top Properties & Providers:

GREturnkey.com

Follow us on Instagram:

@getricheducation

Keith’s personal Instagram:

@keithweinhold



Direct download: GREepisode311_b.mp3
Category:general -- posted at: 4:00am EDT