Get Rich Education

“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:

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! 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

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