National home prices are up 275% since 1991. I break it down state-by-state for you. Slowest? Connecticut with 137%. Fastest? Utah with 599%. Two misleading RE statistics are: real estate sales volume, home price cuts. I tell you where I’m spending my summer. Next, Tom Wheelwright joins us. He authored the new book, “The Win-Win Wealth Strategy”. He tells us about the 7 investments that the government will pay you to make. You don’t pay up to 12.3% Social Security Tax on rental income like you do with your day job. Tax depreciation is explained. Bonus depreciation is being gradually phased out after this year. Resources mentioned: Show Notes: www.GetRichEducation.com/406 Tom’s New Book: “The Win-Win Wealth Strategy” State-By-State Home Appreciation Since 1991: https://advisor.visualcapitalist.com/growth-in-u-s-house-prices-by-state/ Get mortgage loans for investment property: RidgeLendingGroup.com or call 855-74-RIDGE or e-mail: info@RidgeLendingGroup.com JWB’s available Flo...
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: www.GetRichEducation.com/405 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 | invest@freedomcapitalinvestments.com 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: info@RidgeLendingGroup.com JWB’s available Florida income property: www.jwbrealestate.com/gre 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. Available Central Florida new-build income properties: 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
Your Financial Independence Day happens when your residual income stream amount exceeds your basic monthly expenses. Rental demand is high for three big reasons: rates are rising, stringent mortgage qualification standards, housing undersupply. I answer three listener questions: Should I make a big down payment? Is borrowing at lower than inflation profitable? What about prepayment penalties? Ridge Lending Group President Caeli Ridge joins us to discuss today’s mortgage lending landscape. Today, are ARMs beginning to make more sense than fixed-rate mortgages? We explore. Learn about the cash-out refinance climate. Second mortgages on income properties are still limited. Does it ever make sense to refinance to a higher mortgage interest rate? We discuss. Caeli Ridge thinks mortgage rates will keep rising. Resources mentioned: Show Notes: www.GetRichEducation.com/404 Get mortgage loans for investment property: RidgeLendingGroup.com or call 855-74-RIDGE or e-mail: info@RidgeLendingGroup.com Freddie Mac Includes On-Time Rent Payments Into Underwriting: https://www.housingwire.com/articles/freddie-mac-to-include-on-time-rent-payments-into-underwriting/ Airbnb Enacts Permanent Party Bans: https://www.cnbc.com/2022/06/28/airbnb-makes-its-party-ban-permanent.html JWB’s available Florida income property: www.jwbrealestate.com/gre 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. Happy Financial Independence Day on American Independence Day. I answer some of your most burning listener questions today. Shifts in the mortgage market could now change your strategy. Does a cashout refinance to a higher mortgage rate make sense or not? Is an adjustable rate mortgage actually feasible for you now and lots more… on Get Rich Education. _____________________ Hey, welcome in to GRE. From San Luis Obispo, CA to Saint Louis, Missouri and across 188 nations worldwide, you’re back in that abundant place. And you’ve got to lead with an abundance mentality around here. How many places can you do that when the scarcity mentality is abundant and the abundance mentality is scarce. I’m Keith Weinhold. This is Get Rich Education. Though it’s American Independence Day… is it your financial independence day. Are you drawing closer to that day… as you add income streams in your life. With 8.6% government-admitted inflation and stagnant wages and a higher cost of living… has there EVER been a more important time in your entire life to add an income stream through real estate? You can make the case that this is the most important time for you to do that. I am about to answer your listener questions here on July 4th. It’s also Episode 404. There’s no chance that this becomes an error 404. Some dorky humor there. First… Freddie Mac is going to include on-time rent payments into underwriting. Yes! This starts next week. This is a good thing for you. This incentivizes renters to make on-time payments to you if they ever want to become homeowners. …and… Airbnb enacts a permanent ban on parties. They & VRBO have long struggled with what to do about parties. I just shared those stories with you in Friday’s newsletter. If you didn’t see them, they’re in the Show Notes of today’s episode. Be sur...
“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 ...
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 short...
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 ...
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 endearin...
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 th...
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://...
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