Get Rich Education

#70: Our guest teaches real estate investment analysis to graduate students at Columbia University. He wrote the popular book “What Every Real Estate Investor Needs To Know About Cash Flow.” His new video-based course is found at: learn.realdata.com. Want more wealth? Visit GetRichEducation.com and 1) Subscribe to our free newsletter, and 2) Receive Turnkey RE webinar opportunities. Listen to this week’s show and learn: 01:46  Novice investors have awful reasons for why they own rental property. 03:48  Assume that a seller pro forma is a lie. 04:17  Frank Gallinelli interview. 05:28  In RE investing, pretty buildings hardly matter. 10:52  How you evaluate a RE investment’s worthiness. 13:20  Your property is only fourth in importance to you. 14:12  Your income stream. 17:20  Emotions have no place in income property investing. 18:09  Lease structures influence on property values. 20:18  Common mistakes made by novice investors. 24:22  Snow removal, bookkeeping, HVAC maintenance. 28:28  Time value of money. 30

#69: Kathy Fettke chats with Keith about what’s happening to real estate and investing in today’s economy. Want more wealth? Visit GetRichEducation.com and 1) Subscribe to our free newsletter, and 2) Receive Turnkey RE webinar opportunities. Listen to this week’s show and learn: 01:14  Keith’s properties were shaken by a magnitude 7.1 earthquake. 05:18  Kathy Fettke relates the 2008 recession to what’s happening today. 11:58  Tame inflation today. 14:01  Is a U.S. recession coming? 15:55  Demographic shifts. 20:25  Rental boom, followed by a housing boom. 24:10  Stock market crash prediction. 26:06  Farcical job growth. 27:56  Fed Rate hikes are nonsense in this economy. 29:54  Where’s the best place to park your money? 34:23  Best geographic areas for RE investing. 37:48  “San Francisco is going to get hammered.” 38:23  Single family home investing. 42:20  International Coffee Farms - A cash-flowing, hard asset uncorrelated with U.S. markets. Resources: RealWealthNetwork.com - Kathy Fettke’s website. Interna

#68: Seth Williams of The Lighter Side Of Real Estate and Bigger Pockets joins Keith to tell you about the best websites & apps for real estate investing, wealth building, and productivity. Seth's website is REtipster.com Want more wealth? Visit GetRichEducation.com and 1) Subscribe to our free newsletter, and 2) Receive Turnkey RE webinar opportunities. Listen to this week’s show and learn: 01:10  You’ll experience bumps on the path toward where you want to be. 04:00  Seth Williams joins Keith. 08:05  Some investor thoughts on the Grand Rapids, Michigan real estate market. 12:27  Some of Seth’s favorite investor resources.     28:55  Some of Keith’s favorite investor resources. 35:38  Real estate intersects with so many other disciples, that there’s no single “go to” resource. Resources: REtipster.com - Seth Williams’ investor resources. EyeJot.com - Send video messages. AgentPro247.com - Generate lists of motivated sellers. Google Earth - Global maps & aerial photos. Zillow - Residential property in

#67: Ken Corsini of Georgia Residential Partners profiles Atlanta, Georgia - a large, investor-advantaged cash flowing real estate market. Want more wealth? Visit GetRichEducation.com and 1) Subscribe to our free newsletter, and 2) Receive Turnkey RE webinar opportunities. Listen to this week’s show and learn: 01:21  A sharp stock market fall in the first month of this year has investors shaken up. 02:50  Some of Keith’s favorite investing books. 03:17  Rich Dad Advisors. 05:00  Atlanta geography and history. 05:56  Ken Corsini interview begins. 07:00  Atlanta population and economy. 08:44  The location of Atlanta’s investor-advantaged counties and neighborhoods. 15:26  Recent appreciation rate in the Atlanta metro. 17:27  Available inventory of turnkey property. 18:51  Rent-to-value (RV) ratio, property taxes in Atlanta. 21:42  Vacancy rate, duration of tenancy, Landlord-Tenant Law. 25:02  Tenant screening. 25:57  Government-subsidized housing (Section 8). 30:48  Cash flow vs. equity growth. 33:04  Georgia R

#66: Learn some broad approaches to getting more money for a down payment so that you can buy income property sooner. Keith also looks at methods of acquiring passive income other than real estate investing. Want more wealth? Visit GetRichEducation.com and 1) Subscribe to our free newsletter, and 2) Receive Turnkey RE webinar opportunities. Listen to this week’s show and learn: 02:14  Real estate can build massive passive income - this is buy-and-hold real estate, not flipping or wholesaling. 03:36  Why you need to buy time, not sell time. 07:34  Focus on increasing income, not cutting expenses. 10:00  How to approach the classic “time vs. money” conundrum. 12:04  Here’s how much the average American investor lost last year. 15:28  Keith is adamant that we still have inflation today. 16:28  Here’s how wealthy people choose their friends. 24:51  The next episode features an Atlanta Market Profile. 26:28  “How To Win Friends and Influence People” 32:12  Your network determines your net worth. Mastermind groups.

#65: There are numerous pros and cons of both Single Family Home Investing vs. Multifamily Apartment Investing. What’s better for you? At the end of the show Keith selects which one he believes is better for 2016 and 2017. Want more wealth? Visit GetRichEducation.com and 1) Subscribe to our free newsletter, and 2) Receive Turnkey RE webinar opportunities. Listen to this week’s show and learn: 01:18  Single family homes attract better tenants than apartments. Here’s a new way to think about this. 04:16  The best investment that Keith plans to make in 2016 is next month’s Investor Summit At Sea. 09:56  Property cost. 10:19  School district. 10:53  Interest rates. 11:15  Here in 2016, it's now easier to get loans for more than 10 single family homes. 11:55  Property Maintenance, Utilities, Property Management. 14:22  Cash Flow, Location. 18:33  Tenant quality, tenant psychology, tenant turnover. 22:02  Appreciation rates in both property types. 23:00  Management fees, asset liquidity, your level of control. 26:5

#64: How do you build and maintain your reputation? How do you get your great reputation to advance your career? How do you repair a damaged reputation? Both in-person and online, your personal brand is more important than ever. Want more wealth? Visit GetRichEducation.com and 1) Subscribe to our free newsletter, and 2) Receive Turnkey RE webinar opportunities. Listen to this week’s show and learn: 02:45  Why you NEED a personal brand. It’s the same as your reputation. 04:30  How you develop your brand and reputation. 06:08  What do others think about you now? How would they describe you? 09:40  Can you really change “who you are” or who you were “born to be?” 11:32  How to stand out in a meeting - before you even walk in the door! 15:21  The Wingman Strategy will make you look like a star. 19;53  Your personal brand works for you like passive income. 21:25  Your virtual reputation - Google, LinkedIn, Twitter, Facebook, Instagram. 22:55  Improve your brand by creating content. 25:22  Your brand is more import

#63: Hear Keith’s latest media appearance. He is interviewed about how he got started in real estate, his investing strategy, and where Keith invests geographically. Want more wealth? Visit GetRichEducation.com and 1) Subscribe to our free newsletter, and 2) Receive Turnkey RE webinar opportunities. Listen to this week’s show and learn: 01:46  Keith brings you the show from near Philadelphia, PA today. 02:04  Be grateful this holiday season. 07:03  Keith Weinhold Interview begins. 08:22  Keith’s first-ever real estate purchase was an Anchorage, Alaska four-plex building. 09:57  To change yourself, change who you spend time with. 11:28  Don’t follow money. Make money follow you and live where you want. 12:37  How to begin exactly how Keith did. 19:40  Using equity from one four-plex to buy a second four-plex. 22:13  Real estate markets dependent upon oil. 24:00  Foreign turnkey real estate with cash flow. 33:28  Open up your time so that you can be a great investor. 36:42  Opportunity cost. 37:25  The real tra

#62: Rich Dad Advisor and Provision Wealth Founder Tom Wheelwright updates you about recent tax changes; provides tips for avoiding and dealing with an audit; and how to make your travel, meals and entertainment tax-deductible. Keith brings you the show from Juneau, Alaska today. Want more wealth? Visit GetRichEducation.com and 1) Subscribe to our free newsletter, and 2) Receive Turnkey RE webinar opportunities. Listen to this week’s show and learn: 02:35  Actually, the U.S. has the best tax compliance record in the world. 06:02  Now you can lose your passport for tax non-compliance! 09:25  During audits, the IRS is becoming more difficult & invasive. 14:00  Tips to help avoid an audit. It includes: call the deduction “continuing education” rather than a “seminar.” 17:37  Why you should never talk to the IRS. 20:45  Tax actions you can take now: 1) Pay your children, 2) Home office, 3) Automobile use. 4) Accelerate income. 27:30  Making your travel, meal, and entertainment expenses tax-deductible. 34:18  

#61: Learn why your long-term rate of return from stocks, as measured by the S&P 500 Index, is 0%. Learn how to act to overcome this “zero-return investing.” Want more wealth? Visit GetRichEducation.com and 1) Subscribe to our free newsletter, and 2) Receive Turnkey RE webinar opportunities. Listen to this week’s show and learn: 01:10  Keith is back in the United States for today’s show. 02:04  The S&P 500 historically returns 10% per year. Your return is 0%. 02:51  When the Federal Reserve raises interest rates, how that impacts you and your tenants. 04:50  How inflation, emotion, and fees make your stock market return 0%. 11:25  This regards the very long-term. If you plan to live for the very long-term, then this approach makes sense. 13:24  Knowledge and rationale in stock investing vs. real estate investing. 19:27  Real estate still hasn’t returned to its 2006 national price peak. 20:30  Powerful education: how 25%+ returns are common with leveraged, cash-flowing income real estate in investor-ad

#60: Learn how to invest in cash-flowing Panama coffee farm parcels and diversify in an asset outside the US. It’s completely uncorrelated with residential real estate. Learn more at GetRichEducation.com/Coffee Want more wealth? Visit GetRichEducation.com and 1) Subscribe to our free newsletter, and 2) Receive Turnkey RE webinar opportunities. Listen to this week’s show and learn: 01:00  Keith comes to you from Boquete, Panama today, where he completed a 3-day group tour for coffee farm investors. 02:00  Why coffee? 03:54  Why Panama? 04:55  The business model - it's like “turnkey” coffee farm investing. 07:11  What it’s like to walk the coffee farm plantations. 09:22  The investor crop harvest is developing ahead of schedule. 10:12  David Sewell interview begins. 14:14  Three pillars of sustainability: 1) Economic. 2) Environmental. 3) Social. 17:16  Four complete farms have now been sold out to dozens of investors. 17:34  The professionally-trained team includes a General Manager whom is an Engineer and Far

#59: Learn why buying fully renovated, already rehabbed, already tenanted, cash-flowing property in Memphis, Tennessee can put you on the path to financial freedom with Terry Kerr of MidSouthHomeBuyers.com Want more wealth? Visit GetRichEducation.com and 1) Subscribe to our free newsletter, and 2) Receive Turnkey RE webinar opportunities. Listen to this week’s show and learn: 02:18  You want more money with less of your time invested. Today’s episode makes this actionable. 03:58  “Instead of wondering when your next vacation is, maybe you should set up a life you don’t need to escape from.” 04:22  The element of altruism in turnkey real estate investing. 06:10  An advantage of single-family home investing that you’ve likely never thought of. 07:50  Keith joins you from Managua, Nicaragua today. 11:24  Terry Kerr interview begins. He answers “Why Memphis?” 14:34  These $60K-$70K cash-flowing homes are in decent Memphis neighborhoods. 16:07  Advantages of MidSouth having both their renovation and management com

#58: What is “seller financing” of real estate? Why might you want to use it? David Campbell of Hassle-Free Cash Flow Investing is our guest today. Want more wealth? Visit GetRichEducation.com and 1) Subscribe to our free newsletter, and 2) Receive Turnkey RE webinar opportunities. Listen to this week’s show and learn: 01:14  Keith is in coastal San Juan Del Sur, Nicaragua today. 05:18  What is seller financing? 08:06  Why use seller financing? 10:08  Examples of creatively structuring a purchase offer with seller financing. 13:42  When a buyer needs to educate a seller. Hint: talk about the “benefits” to motivate the seller. 21:07  Other names for seller financing are: seller carry, carry-back financing, “subject to,” “carrying paper.” 21:58  The Due-On-Sale Clause. 23:53  What part of the market cycle does seller-financing work best in? 27:58  How do you FIND a seller-financed deal 28:49  Drawing up documents for a seller-financed contract. Use a Letter Of Intent. 30:46  Risks with this technique. 31:58  Wh

#57: Keith comes to you from Little Rock, Arkansas today. Our guest is Old Capital Lending’s Michael Becker of Dallas, TX, to tell us about originating Multifamily Apartment Building loans. Want more wealth? Visit GetRichEducation.com and 1) Subscribe to our free newsletter. 2) Receive Turnkey RE webinar opportunities. Listen to this week’s show and learn: 01:05  Keith is in Little Rock, Arkansas this week for an investment real estate tour. 04:53  Michael Becker of Old Capital Lending appears. 06:50  Single Family Homes vs. Multifamily Apartment advantages / disadvantages. 08:57  Recent happenings in this lending space. 10:20  Loans for 5+ unit residential property are called commercial loans. 11:55  Multifamily commercial loans are primarily qualified by the asset, not the borrower. 15:48  Residential 1-4 lending is like a formulaic science; multifamily commercial 5+ is closer to an art. 17:48  Debt Service Coverage Ratio (DSC or DCR). 1.25 minimum is typical. 19:00  How much liquidity do you need for a mul

#56: Learn today’s financing qualification requirements for investment property with Caeli Ridge, Owner and CEO of Ridge Lending Group. This pertains to conventional financing of: single family homes, duplexes, triplexes and four-plexes that you do not intend to occupy. Want more wealth? Visit GetRichEducation.com and 1) Subscribe to our free newsletter, 2) Receive turnkey RE webinar opportunities. Listen to this week’s show and learn: 00:52  If you want to control more property, you need good loans. 04:50  Compared to last year, are borrower requirements more rigid or more lax? 07:39  Your credit score, debt-to-income ratio, percent down payment, reserve requirement. 12:46  Qualifying for your first 4 properties is different from your 5th through 10th financed properties. 15:47  Qualifying for your 11th through 35th financed properties. 17:13  Can foreign buyers qualify? Also, LIBOR comments. 19:28  Maximizing your cash-on-cash return when structuring a financed offer. 21:21  Buying income property outside t

#55: Gary Carmell, author of “The Philosophical Investor: Transforming Wisdom Into Wealth”, is our guest today. Gary discusses how you think about investing, interest rates, and monetary policy. Want more wealth? Visit GetRichEducation.com and 1) Subscribe to our free newsletter, and 2) Receive Maverick turnkey RE webinar opportunities. Listen to this week’s show and learn: 01:32  A frustrated GRE listener in the Netherlands gives programming feedback. 08:11  Most real estate is a bad investment. Maverick Investor Group’s 2015 report excerpts. 13:16  Interview: Gary Carmell, author of The Philosophical Investor: Transforming Wisdom Into Wealth. 16:21  An example of transforming wisdom into wealth. 17:43  Investors get discouraged at exactly the time they should be buying. 19:56  In investing, discipline and courage often trump hard work and intelligence. 21:53  “The Munger Moment.” 24:00  You never know when a market is at the high or the low. 24:59  Real estate investing is a game of attrition. 27:18  Does G

#54: Today you are going to learn more about credit scores than you ever have. We’re joined by 720 Credit Score’s Philip Tirone. Want more wealth? Visit GetRichEducation.com and 1) Subscribe to our free newsletter, and 2) Receive turnkey RE webinar opportunities. Listen to this week’s show and learn: 01:33  A high credit score reduces your cost of capital, and maximizes your ROI. 08:28  You can have bad credit even if you pay your bills on time. 09:04  Credit scores matter for: property loans, car loans, insurance, employment, credit cards, more. 61% of employers run your credit report before hiring you. 10:21  Why credit scoring is a monumental scam. Yes, a scam. 11:45  You can have a clean credit report, yet poor credit score. 13:45  Many credit repair companies use illegal tactics. 15:03  46% of credit cards in your wallet do not report proper information to the credit bureaus. 18:28  You need 3 to 5 credit cards. 20:20  Get credit cards that: 1) Report to all three bureaus. 2) Report the proper credit lim

#53: Your income and cash flow tell you about yourself and your allocation. What proportions are active, earned, and passive income? Where are you vulnerable? Want more wealth? Visit GetRichEducation.com and 1) Subscribe to our free newsletter, and 2) Receive Maverick turnkey RE webinar opportunities. Listen to this week’s show and learn: 02:45  Most people’s #1 cash flow source is their work-a-day job. But they’re trading their time for dollars. 04:02  Here’s how to best determine your cash flow. Cash flow is simply income minus expenses. 05:54  Current U.S. median household income, Top 10%, and Top 1%. 10:02  You need cash to function in an economy, not equity. 11:32  How you can have a negative net worth, yet be financially free. 15:25  Trace your personal cash flow to different industry sectors. 22:04  “Budget” is almost a swear word. 25:07  Turning equity into cash flow. 28:14  “Retirement calculators” don’t work for real estate investors. 32:12  The Outsourcing Myth. Resources: MidSouthHomeBuyers.com or

#52: Financially, how much are you worth? Here’s how to determine your net worth and what it means to you. Want more wealth? Visit GetRichEducation.com and 1) Subscribe to our free newsletter, and 2) Receive Maverick turnkey RE webinar opportunities. Listen to this week’s show and learn: 02:43  Here on GRE’s 1 Year Anniversary show, what’s in the name, “Get Rich Education?” 05:30  Your Financial Net Worth is what you own minus what you owe.  11:32  Your Net Worth compared to other Americans. 17:00  GRE’s John Collins appearance. 20:55  Your liquidity. 23:06  The interest rate you’re paying on your debt. Credit card arbitrage. 25:56  Your Net Worth worksheet helps make leverage’s power transparent. 28:15  Real estate investing is a game of attrition. 30:56  Generations ago, there was a wealth gap between families. Today, it’s within families. Resources: Mint.com MidSouthHomeBuyers.com or call (901) 217-4663 for Top-Notch Turnkey Rental Properties. NoradaRealEstate.com or call (800) 611-3060. Your Premier Sourc

#51: What if the real estate market crashes? Our guest, Hassle Free Cashflow Investing’s David Campbell, tells us how to hedge yourself against this with Mortgage Note Investing. Learn why this could be the ideal time in the real estate market cycle for Mortgage Note Investing. This can provide stable returns to you, yet more liquidity than owning real estate. Want more wealth? Visit GetRichEducation.com and 1) Subscribe to our free newsletter, and 2) Maverick turnkey RE webinar opportunities. Listen to this week’s show and learn: 02:36  You can be the bank. Rather than be the real estate investor, you can be the real estate lender. 05:08  Our guest, HassleFreeCashflowInvesting.com‘s David Campbell invests based on the real estate market cycle. 08:58  Terms similar to Mortgage Note Investing are: Hard Money Lending, Private Lending, Deed Of Trust Investing, Seller Financing. 12:36  What’s the minimum amount of money you need for Mortgage Note Investing? 13:20  How you get money for this investment. Arbitrage.