Get Rich Education

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Complete episode transcript:

Speaker Weinhold** ((00:00:00)) - - Welcome to GRE! I'm your host, Keith Weinhold, talking about a lot of housing market problems today. Capital gains taxes hitting more home sellers. Home affordability is still bad. The American homeownership rate is falling. I've got roof damage on one of my own properties. Then an update on American mortgage delinquencies and foreclosures. It's mostly bad real estate news today on Get Rich Education.

Speaker Syslo** ((00:00:29)) - - Since 2014, the powerful Get Rich education podcast has created more passive income for people than nearly any other show in the world. This show teaches you how to earn strong returns from passive real estate, investing in the best markets without losing your time being a flipper or landlord. Show host Keith Reinhold writes for both Forbes and Rich Dad Advisors, and delivers a new show every week. Since 2014, there's been millions of listeners downloads and 188 world nations. He has A-list show guests include top selling personal finance author Robert Kiyosaki. Get Rich education can be heard on every podcast platform. Plus it has its own dedicated Apple and Android listener. Phone apps build wealth on the go with the get Rich education podcast.

Speaker Syslo** ((00:01:06)) - - Sign up now for the Get Rich education podcast or visit GetRichEducation.com.

Speaker Coates** ((00:01:14)) - - You're listening to the show that has created more financial freedom than nearly any show in the world. This is get rich education.

Speaker Weinhold** ((00:01:30)) - - We're gonna go from Bavaria, Germany, to Batavia, New York, and across 188 nations worldwide. I'm Keith Weinhold, and you're listening to Get Rich education. There is a large online source of foreclosure and bank owned properties that you won't find on the MLS. In fact, they are the largest in the nation, and their VP of Market Economics will be here with us later today. Home price appreciation. That has been wonderful for the last several years. But one negative consequence is the fact that more home sellers now are getting hit with big capital gains tax bills. Now we'll discuss income property shortly, but when it comes to primary residences, you probably know that if you are single, you won't pay any capital gains tax on the first 250 K profit of your s...

409: Negotiate As If Your Life Depended On It with Chris Voss

Get Rich Education

08/08/22 • 43 min

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

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

I bought my first income property 20 years ago today.

In negotiation, emotions trump facts.

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

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

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

Chris likes to let the other side talk first.

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

Self-deprecating humor can work in negotiation.

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

Resources mentioned:

Show Notes:

Black Swan Group:

www.blackswanltd.com

Mike Gundy rant “I’m a man. I’m 40.”:

https://youtu.be/zQ3oXkDPKbM

Get mortgage loans for investment property:

RidgeLendingGroup.com or call 855-74-RIDGE

or e-mail: [email protected]

JWB’s available Florida income property:

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

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

Available Central Florida new-build income properties:

www.b2rdirect.com

Best Financial Education:

www.GetRichEducation.com/Letter

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

Our YouTube Channel:

Top Properties & Providers:

Keith’s personal Instagram:

www.GetRichEducation.com/418

418: How To Build A Home

Get Rich Education

10/10/22 • 43 min

Homebuilder confidence is low. I talk to one today. Then, learn how a home is built.

Join our Jacksonville properties webinar Oct. 20th. Sign up free at: GREwebinars.com.

Text “GRE” to 66866 for our free “Don’t Quit Your Daydream” e-mail letter.

After discussing the best place to invest today, learn how a home is actually built.

Learn how a home is built: zoning, land acquisition, permitting, engineering, drainage, clearing & grubbing, adding earth fill, soil compaction, trenching, adding sanitary systems, stormwater system, lift station, conduit, electrical, foundation, slab-on-grade, plumbing, framing, block, roof truss.

Homebuilder confidence is low among those that sell to owner-occupants. That’s due to higher mortgage interest rates.

Among homebuilders that sell to investors, it’s better. Why? Higher rates mean higher rents.

Tenant demand for fourplexes is strong. In inflation and a possible recession, more people must live frugally.

Get started with new-build Florida income property (SFR to fourplex) with today’s guest at: GREmarketplace.com/Southeast.

Resources mentioned:

Show Notes:

Today’s guest provider offers new-build Florida property at:

www.GREmarketplace.com/Southeast

Get mortgage loans for investment property:

RidgeLendingGroup.com or call 855-74-RIDGE

or e-mail: [email protected]

JWB’s available Florida income property:

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

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

Available Central Florida new-build income properties:

www.b2rdirect.com

Analyze your RE portfolio at (use code “GRE” for 10% off):

MyPropertyStats.com

I’d be grateful if you search “how to leave an Apple Podcasts review” and do that for this show.

Best Financial Education:

www.GetRichEducation.com/Letter

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

Our YouTube Channel:

Top Properties & Providers:

Keith’s personal Instagram:

www.GetRichEducation.com/405

405: Fixed 12% Income Returns through Real Estate Funds with Dani Lynn Robison

Get Rich Education

07/11/22 • 36 min

Real estate funds invest in multiple properties.

Real estate syndications often invest in just one property.

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

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

Fund pros: More passive than turnkey, stable returns.

Fund cons: Vet your operator.

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

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

The difference between simple and compound interest weighs in here.

Learn what a “preferred return” is.

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

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

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

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

Learn how funds have two audit layers.

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

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

Resources mentioned:

Show Notes:

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

www.GREmarketplace.com/funds

Dani Lynn Robison’s team contact:

Phone | (937) 551-2282

Email | [email protected]

Flip & Dani Lynn Robison’s daily podcast:

Freedom Through Passive Income

Get mortgage loans for investment property:

RidgeLendingGroup.com or call 855-74-RIDGE

or e-mail: [email protected]

JWB’s available Florida income property:

www.jwbrealestate.com/gre

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

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

Available Central Florida new-build income properties:

www.b2rdirect.com

Best Financial Education:

www.GetRichEducation.com/Letter

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

Our YouTube Channel:

Top Properties & Providers:

Keith’s personal Instagram:

TotalControlFinancial.com

249: Beginner's Real Estate Investing Guide

Get Rich Education

07/15/19 • 54 min

Two big mistakes are: 1) Renting out your former primary residence. 2) Only being invested in one market.

This Beginner’s Real Estate Investing Audio Guide also helps you step-by-step with buying an income property:

Credit Scoring
Mortgage Pre-Approval
Writing An Offer
Inspection
Vetting A Property Manager
Appraisal
Insurance
Closing
LLCs

**The entire audio from this episode is transcribed into words and can be found at the end.**

People set up LLCs for asset protection, anonymity, or tax purposes. But there is a lot of administrative work. Is it even worth setting up?

Your FICO credit score has five ingredients. Down payment, debt-to-income ratio covered.

Mortgage pre-approval is better than pre-qualification.

Select income property in: job-growth economies, high rent in proportion to low purchase price.

Cash flow = Rent Income minus “VIMTUM”.

Why would someone sell you a cash-flowing property?

“Turnkey” defined. Should you make a lowball offer to a turnkey provider?

Also discussed: Negotiation Strategy, Earnest Money, Purchase Contracts, Management Fees, Management Agreements, Mobile Notary, Title Company, Rent-To-Value Ratio, Collecting Cash Flow.

__________________

Want more wealth?

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

2) Your actionable turnkey real estate investing opportunity: GREturnkey.com

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

__________________

Resources mentioned:

Mortgage Loans:

RidgeLendingGroup.com

Find Properties:

GREturnkey.com

Memphis & Little Rock Property:

MidSouthHomeBuyers.com

Turnkey Real Estate:

NoradaRealEstate.com

QRP:

JWB New Construction Turnkey:

NewConstructionTurnkey.com

Our Tampa Real Estate Field Trip:

RealEstateFieldTrip.com

Best Financial Education:

Keith’s personal Instagram:

www.GetRichEducation.com/Lending

Complete Audio Transcript:

Welcome to Get Rich Education. I’m your host Keith Weinhold and I’m here to help Beginning Real Estate Investors Today.

The biggest beginner mistakes to avoid, when you make an offer - can you lowball a turnkey provider, and all those buyer steps like LLCs, mortgage pre-approval, inspection, appraisal, and closing. Today, on Get Rich Education.

_____________________

Welcome to GRE. This is Get Rich Education Episode 249 - and this is your Beginner’s Real Estate Investing Audio Guide. Hi, I’m your host Keith Weinhold.

We’re talking about how to get into long-term buy & hold RE investing - and that’s because it’s the most generationally-proven way to build wealth.

First, let’s talk about a couple of the biggest mistakes that real estate investors make - it’s being invested in only one geographic market. Often, that’s the market that they just happen to live in.

There is more risk with being in only one market than most realize, because you’re now tied to the fortunes or misfortunes of just one area’s economy.

Another substantial, common real estate investor mistake is that they continue to hold onto one - I’ll call it - special - property in their portfolio that they usually need to get rid of - but they have either sentimental ties to it - or they just hold onto it for convenience, and do you know what that property is?

I’m actually talking about a specific property here.

It’s the home that THEY YOU USED TO LIVE IN yourself. Well, what’s wrong with renting out the home that you used to live in yourself?

You might still have the preferable owner-occupied financing locked in on that one - and afterall, that’s a better rate than you could get on a non-owner-occupied rental.

The problem is that the property probably doesn’t perform BEST as a rental.

But you might be clearing, say $500 per month by using your former primary residence as a rental today.

Look, for you, it’s often about the cash flow - and yes, it is about the cash flow.

...

299: Turnkey Behind-The-Scenes, Predictable Cash Flow via Private Lending

Get Rich Education

06/29/20 • 41 min

Turnkey RE providers must acquire distressed property at a discount in order to stay in business.

We go behind-the-scenes and see how these companies really operate.

They take risks, maintain relationships with myriad parties, coordinate contractors, bear holding costs, buy & store materials, screen & place tenants, and operate a management division.

It’s a ton of work that investors can outsource to turnkey providers. They are professional fix & flippers.

The “consumer-profit chain” helps you understand this.

Dani Lynn Robison of Freedom Real Estate Group near Dayton, Ohio offers private lenders like you 8-10% cash-on-cash returns at www.GetRichEducation.com/Lending

The funds are used to purchase and rehabilitate distressed property. They’re transformed into turnkey property.

Your loan collateral is tied to a specific address. A note and mortgage is produced. You have first lien position.

This provider has performed 300+ fix-and-flips since 2015.

Get the report and connect with the provider for predictable 8-10% cash returns for four to twelve month terms at: www.GetRichEducation.com/Lending

Minimum investment amount is $50K. You DON’T need to be an accredited investor.

Resources mentioned:

Private Lending with 8-10% cash return:

Mortgage Loans:

RidgeLendingGroup.com

QRPs: text “QRP” in ALL CAPS to 72000 or:

NewConstructionTurnkey.com

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

New Construction Turnkey Property:

Best Financial Education:

Keith’s personal Instagram:

TotalControlFinancial.com

277: How To Build Wealth Faster with the Pareto Principle, QRPs

Get Rich Education

01/27/20 • 37 min

You only need to be 1% better ... to go from good to great.

This is due to accumulative advantage, which is the engine that drives "The Pareto Principle" (80 / 20 rule).

Lessons from nature extrapolated to business and real estate investing provide cues on how you can grow your wealth faster.

Damion Lupo tells us about important new changes that make the eQRP - Enhanced Qualified Retirement Plan - even more beneficial to you.

To learn more, text “QRP” in ALL CAPS to “72000”.

With the eQRP, you pay no UBIT tax on leveraged real estate. Self-Directed IRAs sting you this way.

eQRPs can provide tax credits of $15,000 for starting a plan, and a tax deduction on your income by paying your kids.

Open your eQRP before you file your taxes, and you can make the benefits retroactive.

To learn more, text “QRP” in ALL CAPS to “72000”.

__________________

Resources mentioned:

Text “QRP” in ALL CAPS to 72000 or:

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

Book:

The Slight Edge by Jeff Olson

Pareto Principle:

Business Insider article

Mortgage Loans:

RidgeLendingGroup.com

New Construction Turnkey Property:

NewConstructionTurnkey.com

Best Financial Education:

Find Properties:

GREturnkey.com

484: How to Avoid Living Below Your Means and Leverage Debt

Get Rich Education

01/15/24 • 36 min

Join our live, virtual event for Alabama income properties tomorrow at: https://gremarketplace.com/webinar/

Learn a lesson from a story about when I was a landlord. My neighbor was a fourplex owner-occupant, just like me. We built a fence together. He told me that he can’t wait to get his building paid off.

Don’t pay down your mortgage debt. In most cases, you can invest those dollars elsewhere for a higher return.

I discuss two things build wealth: 1) Leverage. 2) Borrowing against your assets, tax-free.

You don’t have substantial equity in your properties because you paid them down. You have substantial equity because its value has appreciated.

Today, you can report tenant rent payments to the credit reporting agencies.

Alabama has low property prices and the nation’s 2nd-lowest property taxes.

GRE Investment Coach, Aundrea Newbern, MBA, joins me.

Join our live event for Alabama income properties Tuesday, January 16th at 8 PM Eastern. The provider is offering 5.99% interest rates and 3% PM fees on your first three properties. Sign up now at: https://gremarketplace.com/webinar/

Timestamps:

The introduction (00:00:01)

Keith Weinhold introduces the podcast and mentions the topics to be covered, including lessons from being a landlord, a formula for wealth, and a focus on a lucrative property market.

Keith's early real estate experience (00:02:46)

Keith shares his early experience as a landlord, comparing notes with another landlord and discussing their strategies for living for free in their fourplexes.

Debt mindset and wealth building (00:05:30)

Keith discusses his divergent mindset from his fellow landlord, emphasizing the importance of leveraging debt for wealth building and portfolio expansion.

The power of leverage and portfolio growth (00:10:08)

Keith explains how he leveraged equity to expand his real estate portfolio, emphasizing the benefits of using accumulated equity to acquire more properties.

Real estate market diversification (00:11:22)

Keith advocates for buying properties across different states and markets to access better deals and maximize portfolio growth.

Tenant management and credit reporting (00:13:42)

Keith shares tips on tenant management, including the option to report rent payments to credit bureaus to incentivize timely payments and manage tenant relations.

Financial perspectives and real estate strategies (00:16:12)

Keith discusses contrasting financial perspectives with a CFO friend, highlighting the benefits of leveraging debt for real estate investments.

Market pulse and expense control (00:20:26)

Andrea discusses the market pulse for income properties, focusing on the Southeast region, and addresses the trends in controlling investors' expenses, particularly related to insurance rates.

Conclusion and invitation (00:22:02)

Keith and Andrea conclude the segment by discussing the migration trends in the Southeast and the importance of controlling expenses for real estate investors.

Lower Property Management Costs (00:22:55)

Discussion on the stabilization and decrease of property management costs due to technology and institutional investment money.

Investment Timing and Market Trends (00:25:01)

Encouragement for investors to take advantage of the current market conditions, including interest rates, prices, and inventory.

Alabama Market and Incentives (00:28:24)

Details about the Alabama market, including low property prices and incentives such as the 333 property management fee and 5.99% interest rate.

Live Event and Registration (00:32:33)

Information on how to register for the live virtual event to learn about the Alabama market and have questions answered in real time.

Final Encouragement and Event Promotion (00:33:27)

Encouragement to attend the live event to learn about the Alabama market and connect with an investment coach.

Resources mentioned:

Show Page:

GetRichEducation.com/484

Join our live, virtual event for Alabama income properties at: https://gremarketplace.com/webinar/

For access to properties or free help with a

GRE Investment Coach, start here: