Get Rich Education
This show has created more financial freedom for busy people like you than nearly any show in the world.Wealthy people's money either starts out or ends up in real estate. But you can't lose your time. Without being a landlord or flipper, you learn about strategic passive real estate investing to create wealth for yourself. I'm Show Host Keith Weinhold. I also serve on the Forbes Real Estate Council and write for Forbes. I serve you ACTIONABLE content for cash flow on a platter. Our bottom line in real estate investing together is: “What’s your Return On Time?” Where traditional personal finance merely helps you avoid losing, you learn how to WIN. Why live below your means when you can expand your means?Since 2002, international real estate investor Keith Weinhold owns multifamily apartment buildings to single family homes to agricultural real estate. New episodes are delivered every Monday. "Subscribe" on Apple Podcasts so that you never miss one. Want more wealth? Get my international best-selling E-book on creating wealth for yourself FREE at www.GetRichEducation.com
227: $10K Monthly Cash Flow With Each SFH
You are aging. So is America. The U.S. median age keeps rising. We need more senior housing. Your demographics are baked in the cake. Gene Guarino, owner of the Residential Assisted Living (RAL) Academy & I tell you about the opportunity. Serve seniors by converting Single-Family Homes into Assisted Living Homes (ALHs). There are two distinct pieces here: 1) The real estate. 2) The business with residents & care staff. Average U.S. ALH tenant pays $4,000 per month x 10 residents = $40,000. Your net is about 30%. That’s $12,000 month. We discuss how to find the right real estate and strategies for filling it with residents. Rule of thumb: 300 sf for every resident is quite comfortable. Learn how an ALH-SFH “Profit & Loss Statement” looks. ALH tenants are long-term, low impact, and pay above-market “rent”. My friend Brandon heard Gene here on the show before. Brandon got started. We discuss. It’s easiest for you to buy an existing business. If you can’t then learn about your care staff’s necessary qualifications. Financing for ALHs? 80% loans. __________________ Want more wealth? 1) Grab my FREE E-book and Newsletter at: GetRichEducation.com/Book 2) Actionable turnkey real estate investing opportunity: GREturnkey.com 3) Read my best-selling paperback: getbook.at/7moneymyths __________________ Resources mentioned: Gene’s Online Course Gene’s Live Course Brandon’s e-mail: firstname.lastname@example.org Mortgage Loans: RidgeLendingGroup.com Cash Flow Banking: ProducersWealth.com Turnkey RE: NoradaRealEstate.com QRP: TotalControlFinancial.com Find Properties: GREturnkey.com Follow us on Instagram: @getricheducation
226: You Need Multiple Income Streams, Real Estate & Land Use Facts
You’re at risk with only one income stream. Federal government workers thought their income stream was “secure” until the recent shutdown. Recently, my friend was uprooted when his employer handed their family a job transfer (move or be fired). With only one income stream, you’re beholden to one boss or one company’s whims. You need multiple, durable passive income streams. America uses its land in surprising ways: 4% is urban land. 41% is pasture & range land. 20% is crop land. One company owns a timber stand nearly the size of West Virginia. Surprisingly, America is becoming less mobile. Fewer people move homes annually. Effects discussed. __________________ Want more wealth? 1) Grab my FREE E-book and Newsletter at: GetRichEducation.com/Book 2) Actionable turnkey real estate investing opportunity: GREturnkey.com 3) Read my best-selling paperback: getbook.at/7moneymyths __________________ Resources mentioned: Bloomberg: How America Uses Its Land Axios: Americans Less Mobile 2...
225: Property Manager Expectations & Mistakes To Avoid, Houston Market
Learn what manager fees you should pay & not pay. The “glue” that binds you & your profitable property together is your Property Manager (PM). Higher PM fees might be better or worse for you - it depends on what duties they perform. You pay both a Management Fee and a Leasing Fee. If there’s an activity that you DON’T want to do with your property, then make sure your PM will do it as stated in your Management Agreement. What should Managers DO? Collect rent, find tenants, market vacant property, perform maintenance, pay bills, handle emergencies. What DON’T Managers do? Sell or refinance a property for you. What falls in between? Extensive renovations, evictions, regular maintenance inspections. We discuss Property Management Agreements. GRE-Houston is perhaps the best investment market we’ve never discussed before. As America’s 4th-largest city, Houston has good rent-to-value ratios, low property prices, a vast economy, stunning growth, and laws benefit landlords over tenan...
See More Episodes on Himalaya