Get Rich Education

#229: Holy shift! Mortgage rates have hit their lowest level in a year.

5.5% interest rate and a 20% down payment for an income property are today’s terms.

740 credit score gives you the best rates.

Beyond your first 10 properties (single) and 20 properties (married), there is NO LIMIT on the number of properties you can buy (SFHs to four-plexes).

Though after 10 single / 20 married, your interest rate will be higher, though not by much.

Learn from Ridge Lending Group CEO & President Caeli Ridge about what you need to qualify for an income property loan today.

We discuss your DTI: debt-to-income ratio. I give an example of how to determine yours.

Want a cash-out refinance of your income property? 75% LTV for SFHs, 70% LTV for 2-4 unit properties.

Learn about why today’s smart money often buys 1-4 unit properties rather than larger apartment buildings …

… it’s the safety & stability of 30-year fixed loans.

Remember, last month on the show, Jim Rogers told us interest rates will go much higher over the long-term.

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Want more wealth?

1) Grab my FREE E-book and Newsletter at: GetRichEducation.com/Book

2) Actionable turnkey real estate investing opportunity: GREturnkey.com

3) Read my best-selling paperback: getbook.at/7moneymyths

__________________

Resources mentioned:

Mortgage Loans:

RidgeLendingGroup.com

Find Properties:

GREturnkey.com

Cash Flow Banking:

ProducersWealth.com

Turnkey Real Estate:

NoradaRealEstate.com

QRP:

TotalControlFinancial.com

JWB New Construction Turnkey:

NewConstructionTurnkey.com

Follow us on Instagram:

@getricheducation

Keith’s personal Instagram:

@keithweinhold

 

Direct download: GREepisode229_.mp3
Category:general -- posted at: 4:00am EST

#228: Is Trump’s real estate wealth self-made or inherited? You get surprising answers.

Also learn about property hold time, equity flipping, cap rates, health insurance, a mastermind group.

How long should you hold onto an investment property? Short answer is 8 years.

Generally, sell when you have at least 15% more equity than your contemplated replacement.

“Equity flipping” is a term that I introduce to you today.

Don’t flip property, flip equity. This increases your velocity of money.

Learn all about Cap Rates.

Cap Rate is income divided by price. Cap Rates are driven by supply and demand.

Cap Rate excludes financing because you brought a mortgage to a property, the property didn’t come with the mortgage.

Learn about health insurance for entrepreneurs.

Next month on the show: Robert Kiyosaki, Tom Wheelwright, and Ken McElroy will all be here for “Rich Dad Month”.

__________________

Want more wealth?

1) Grab my FREE E-book and Newsletter at: GetRichEducation.com/Book

2) Actionable turnkey real estate investing opportunity: GREturnkey.com

3) Read my best-selling paperback: getbook.at/7moneymyths

__________________


Resources mentioned:

Visual Capitalist:

Trump: The Real Story

World Real Estate Trends & Climate:

GlobalPropertyGuide.com

Collective Genius Mastermind Group:

http://invite.thecollectivegenius.com/

Mortgage Loans:

RidgeLendingGroup.com

Cash Flow Banking:

ProducersWealth.com

Turnkey Real Estate:

NoradaRealEstate.com

QRP:

TotalControlFinancial.com

JWB New Construction Turnkey:

NewConstructionTurnkey.com

Find Properties:

GREturnkey.com

Follow us on Instagram:

@getricheducation

Keith personal Instagram:

@keithweinhold

 

Direct download: GREepisode228_.mp3
Category:general -- posted at: 4:00am EST

#227: You are aging. So is America. The U.S. median age keeps rising.

We need more senior housing. Your demographics are baked in the cake.

Gene Guarino, owner of the Residential Assisted Living (RAL) Academy & I tell you about the opportunity.

Serve seniors by converting Single-Family Homes into Assisted Living Homes (ALHs).

There are two distinct pieces here:

    1) The real estate.

    2) The business with residents & care staff.

Average U.S. ALH tenant pays $4,000 per month x 10 residents = $40,000. Your net is about 30%. That’s $12,000 month.

We discuss how to find the right real estate and strategies for filling it with residents.

Rule of thumb: 300 sf for every resident is quite comfortable.

Learn how an ALH-SFH “Profit & Loss Statement” looks.

ALH tenants are long-term, low impact, and pay above-market “rent”.

My friend Brandon heard Gene here on the show before. Brandon got started. We discuss.

It’s easiest for you to buy an existing business. If you can’t then learn about your care staff’s necessary qualifications.

Financing for ALHs? 80% loans.

__________________

Want more wealth?

1) Grab my FREE E-book and Newsletter at: GetRichEducation.com/Book

2) Actionable turnkey real estate investing opportunity: GREturnkey.com

3) Read my best-selling paperback: getbook.at/7moneymyths

__________________


Resources mentioned:

Gene’s Online Course

Gene’s Live Course

Brandon’s e-mail: thrivealh@gmail.com

Mortgage Loans: RidgeLendingGroup.com

Cash Flow Banking: ProducersWealth.com

Turnkey RE: NoradaRealEstate.com

QRP: TotalControlFinancial.com

Find Properties: GREturnkey.com

Follow us on Instagram: @getricheducation

 

Direct download: GREepisode227_1.mp3
Category:general -- posted at: 4:00am EST

#226: You’re at risk with only one income stream.

Federal government workers thought their income stream was “secure” until the recent shutdown.

Recently, my friend was uprooted when his employer handed their family a job transfer (move or be fired).

With only one income stream, you’re beholden to one boss or one company’s whims.

You need multiple, durable passive income streams.

America uses its land in surprising ways:

  • 4% is urban land.
  • 41% is pasture & range land.
  • 20% is crop land.
  • One company owns a timber stand nearly the size of West Virginia.

Surprisingly, America is becoming less mobile. Fewer people move homes annually. Effects discussed.

__________________

Want more wealth?

1) Grab my FREE E-book and Newsletter at: GetRichEducation.com/Book

2) Actionable turnkey real estate investing opportunity: GREturnkey.com

3) Read my best-selling paperback: getbook.at/7moneymyths

__________________


Resources mentioned:

Bloomberg: How America Uses Its Land

Axios: Americans Less Mobile

2019 State Business Tax Climate

Mortgage Loans: RidgeLendingGroup.com

Cash Flow Banking: ProducersWealth.com

Turnkey RE: NoradaRealEstate.com

QRP: TotalControlFinancial.com

Find Properties: GREturnkey.com

Follow us on Instagram: @getricheducation

 

Direct download: GREepisode226_2.mp3
Category:general -- posted at: 4:00am EST

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