Get Rich Education

Latest Episodes:

357: A New Investor City Is Revealed Aug 09, 2021

Show notes

Homes in car-dependent areas have appreciated at 33%; mass transit areas 16% over the last eighteen months. Suburban real estate wins.

Alabama and Tennessee have: net in-migration, low cost of living, high rents with a low purchase price, low property tax, jobs, and housing affordability.

SFRs and duplexes are offered in: Chattanooga, Birmingham, and Huntsville.

In many Alabama markets, low income areas have appreciated more than high income areas.

Chattanooga duplexes: $2,200 rent / $240,000 price. 0.9% RV ratio.

SFRs are 3 bed, 2 bath: $1,300-$1,500 / $160K-$210K price.

Get the report & connect with the provider at: GetRichEducation.com/Chattanooga

Resources mentioned:

Show Notes:

www.GetRichEducation.com/357

Alabama & Chattanooga Investment Property:

GetRichEducation.com/Chattanooga

GetRichEducation.com/Birmingham

GetRichEducation.com/Huntsville

Get mortgage loans for investment property:

RidgeLendingGroup.com

JWB's available Florida income property:

www.CashFlowAndGrowth.com

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.

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

@getricheducation

Keith's personal Instagram:

@keithweinhold

356: How To Reduce Property Insurance Costs Aug 02, 2021

Show notes

You achieved 95% total rate of return if you bought a turnkey property one year ago, on average.

How can that be true? It's the "Five Ways Real Estate Pays" revisited.

Get our free, wealth-building "Don't Quit Your Daydream" newsletter. It's the real estate industry's best at: GetRichEducation.com/Letter

Doug Fudge joins us. He's President and CEO of Fudge Insurance. They are a brokerage where customers get a choice of insurance provider.

Fudge provides insurance in: CA, CO, FL, GA, NC, TN and KY.

He suggests higher deductibles and lower premiums for well-off investors.

Doug & I discuss trade-offs between replacement cost and actual cash value insurance.

Vacant land is generally not insured.

Every policyholder in Florida has had a rate increase in the last year. This is largely due to frivolous lawsuits.

Get a lower insurance rate with property that is: new-build, concrete block (not frame), further inland (not coastal), hip roof (not gable).

Flood and earthquake coverage are separate policies.

We discuss how to administer renters' insurance and umbrella insurance policies.

Learn which insurance document you should never sign.

Resources mentioned:

Show Notes:

www.GetRichEducation.com/356

Fudge Insurance:

www.FudgeInsurance.com

(407) 965-4253

Get mortgage loans for investment property:

RidgeLendingGroup.com

JWB's available Florida income property:

www.CashFlowAndGrowth.com

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.

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

@getricheducation

Keith's personal Instagram:

@keithweinhold

355: Home Prices Stall, Tom Wheelwright on Green Energy Tax Breaks Jul 26, 2021

Show notes

Housing inventory could finally be turning the corner. There are now more available homes (549K) today than one month ago (504K) and two months ago (492K).

56% of homes still sell above their asking price.

Get our free, wealth-building newsletter. It's the real estate industry's best at: GetRichEducation.com/Letter

I provide a condensed history of the income tax. In 1913, the top income tax rate was 7%.

Tom Wheelwright joins GRE for a record 21st time on green energy tax breaks.

Wind, solar, hydrogen, geothermal, nuclear, and car charging stations will likely receive more tax incentive support under Joe Biden.

Oil & gas tax deductions could be limited or eliminated.

Resources mentioned:

Show Notes:

www.GetRichEducation.com/355

Tom Wheelwright's network:

Wealthability.com

Watch Tom & I on YouTube:

GetRichEducation.com/YouTube

Active Listing Count Of Homes:

https://fred.stlouisfed.org/series/ACTLISCOUUS

The Income Tax Since 1913:

https://bradfordtaxinstitute.com/Free_Resources/Federal-Income-Tax-Rates.aspx#

Get mortgage loans for investment property:

RidgeLendingGroup.com

JWB's available Florida income property:

www.CashFlowAndGrowth.com

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.

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

@getricheducation

Keith's personal Instagram:

@keithweinhold

354: Rents Are Skyrocketing, Tom Wheelwright on Biden Taxes Jul 19, 2021

Show notes

Rents are shooting up in many metros, including GRE cities.

Cyclically, housing prices shoot up first. Rent raises follow.

Inflation is hot: CPI is up 5.4%, PPI up 7.3%.

Tom Wheelwright, CPA of Wealthability joins us. Topics:

Will income tax and capital gains tax increase?

The 1031 Exchange is at risk!

How to contest your property taxes.

Involving your children in your business for tax breaks.

A more active tax audit climate.

This is Tom's record 20th GRE appearance.

Resources mentioned:

Show Notes:

www.GetRichEducation.com/354

Tom Wheelwright's network:

Wealthability.com

Get mortgage loans for investment property:

RidgeLendingGroup.com

JWB's available Florida income property:

www.CashFlowAndGrowth.com

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.

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

@getricheducation

Keith's personal Instagram:

@keithweinhold

353: Landlords Get Vilified, Housing Market Update with Damion Lupo Jul 12, 2021

Show notes

Society and media often lambaste landlords.

I discuss an absurd article titled: "Landlord System Morally Unethical… Contributing Nothing To Society".

Some slumlords exist, but many landlords are responsible.

Many landlord critics think money is inherently evil.

Damion Lupo joins me to discuss what happened at the latest Real Estate Guys' Investor Summit.

The homeownership rate is expected to decrease, meaning more renters.

It will take at least a decade to raise housing supply to meet demand.

We discuss whether inflation is here to stay or not.

Damion provides you with the best retirement plan that I've ever heard known - the eQRP. Make gains truly tax-free, have $100K+ annual contribution limits, and invest in virtually anything - real estate, crypto, your own business.

Learn more. Text: "EQRP" to "72000".

Resources mentioned:

Show Notes:

www.GetRichEducation.com/353

Chantilly News on landlords:

https://chantillynews.org/7141/opinions/landlord-system-morally-unethical-contribute-nothing-to-society/

Get mortgage loans for investment property:

RidgeLendingGroup.com

JWB's available Florida income property:

www.CashFlowAndGrowth.com

Ali Boone's Recommended Book:

https://amzn.to/2NsMVlF

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.

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

@getricheducation

Keith's personal Instagram:

@keithweinhold

352: Rich People Have The Most Debt Jul 05, 2021

Show notes

Paid-off properties have an opportunity cost that few consider.

Wealthy celebrities that choose mortgages are: Mark Zuckerberg & his wife, Elon Musk, Megan Markle & Prince Harry, Beyonce & Jay-Z, Chrissy Teigen & John Legend, and Charlie Sheen.

I personally have held millions in mortgage debt from a young age. I've long had the ability to pay it off, have not, and will not.

Good debt defined: 1) Secured. 2) Low mortgage interest rate. 3) Payments outsourced to tenants.

How your bank sees your debt: 1) You have insured their collateral. 2) When you improve the property, you improve their collateral. 3) 1-4 unit properties - comparables. 5+ properties - income & debt coverage ratio.

The risk of high mortgage debt is being overleveraged. This means you cannot service the debt payments.

Chris Naghibi joins me. Though he dispenses financial guidance to celebrities, he helps everyday people qualify for mortgages.

We discuss mistakes to avoid with your credit score and debt-to-income ratio.

Learn about today's appraisal environment.

Today, on average, homes sell for more than the asking price. That's weird!

The average credit score is now 786 for mortgage borrowers.

Resources mentioned:

Show Notes:

www.GetRichEducation.com/352

Chris Naghibi:

TikTok: @ChrisNaghibi

Instagram: @ChrisNaghibi

YouTube: Chris Naghibi

Get mortgage loans for investment property:

RidgeLendingGroup.com

JWB's available Florida income property:

www.CashFlowAndGrowth.com

Ali Boone's Recommended Book:

https://amzn.to/2NsMVlF

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.

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

@getricheducation

Keith's personal Instagram:

@keithweinhold

351: Jim Rogers - Inflation & Your Economic Future Jun 28, 2021

Show notes

Legendary investor and business mogul Jim Rogers joins us from Singapore.

Inflation is on the rise. I was just asked to leave a tip at Subway for the first time.

Inflation nudges most people toward poverty. It moves GRE listeners toward prosperity.

Rents for detached SFHs are up 7.9% year-over-year.

The NAR just told us America is 6.8 million housing units short of demand.

World governments are printing, spending, and driving interest rates to all-time lows. Historically, this has led to higher inflation.

I ask Jim Rogers about inflation and the prospects for U.S. hyperinflation.

He believes interest rates will go higher "in the next few years". He likes tying up 30-year fixed rate mortgages.

Jim thinks the free market might take control of interest rate policy away from The Fed (wow!).

"The next recession is going to be the worst in my lifetime." -Jim Rogers

Jim Rogers & I also discuss: MMT, agricultural real estate, cryptocurrency, and advice for a young person.

I explain what CBDCs are - Central Bank Digital Currencies.

Resources mentioned:

Jim Rogers' resources:

www.JimRogers.com

SFH Rents See Huge Gains:

https://www.cnbc.com/2021/06/15/rents-for-single-family-homes-just-saw-the-largest-gains-in-nearly-15-years.html

America Is Short 6.8 Million Homes:

https://www.businessinsider.com/housing-market-short-millions-homes-homebuilding-real-estate-nar-report-2021-6

Show Notes:

www.GetRichEducation.com/351

Get mortgage loans for investment property:

RidgeLendingGroup.com

JWB's available Florida income property:

www.CashFlowAndGrowth.com

Ali Boone's Recommended Book:

https://amzn.to/2NsMVlF

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.

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

@getricheducation

Keith's personal Instagram:

@keithweinhold

350: Blair Singer - Why Sales Solves Nearly Every Problem Jun 21, 2021

Show notes

Rents are up, up, up. This is because surging home prices are displacing the first-time affordable homebuyer.

Rich Dad Sales Advisor Blair Singer joins us. He helps you get that "little voice" in your head to tell you the right thing.

When you master your little voice, you more often move from employee to business owner or entrepreneur. It takes self-belief. Begin with the end in mind.

Blair tells you why you don't have to be an attack dog in sales. Just help others!

I try my sales pitch with Blair, then he tells me that my sales style is a retriever.

In a selling situation, the person with the highest energy wins.

Resources mentioned:

Blair Singer's resources:

www.BlairSinger.com

Show Notes:

www.GetRichEducation.com/350

Get mortgage loans for investment property:

RidgeLendingGroup.com

JWB's available Florida income property:

www.CashFlowAndGrowth.com

Ali Boone's Recommended Book:

https://amzn.to/2NsMVlF

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.

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

@getricheducation

Keith's personal Instagram:

@keithweinhold

349: Rent vs. Price Relationship, House Prices 1963-Present Jun 14, 2021

Show notes

Learn the housing price level every year from 1963 to present with an entertaining retrospective - from $18K to $372K.

Top takeaways over time: 1) Real estate usually goes up. 2) Real estate does not always go up.

Housing rents and prices often correct toward each other.

Home prices are rising globally. The highest: Turkey, New Zealand, Luxembourg, and Slovakia. Some of the lower rises are in East Asia.

Canadians can hardly believe that Americans get 30-year fixed rate mortgages, 1031 Like-Kind Exchange.

Redfin CEO Glenn Kelman believes that high housing demand is cooling off and the market is normalizing.

Building a home has never been more expensive.

I cover a case study for you about how new-build Boise single-family ranch homes had a sale price increase of $472K up to $747K over the last two years.

Your tenant is probably doing better this year than last. Unemployment is down to 5.8%.

Rent amounts are more stable than home prices.

I draw the line. Current rent vs. own dividing lines are 0.7% RV ratio and $250K purchase price.

You can still find decent $100K - $150K properties in: Memphis, Little Rock, Cincinnati and Dayton.

Resources mentioned:

Median New House Prices (Census, HUD):

https://fred.stlouisfed.org/series/MSPUS

Bloomberg: Global Home Price Rise:

https://www.bloomberg.com/news/articles/2021-06-03/global-home-prices-rise-most-since-2006-fueling-bubble-concerns

Music samples used with permission.

Show Notes:

www.GetRichEducation.com/349

Get mortgage loans for investment property:

RidgeLendingGroup.com

JWB's available Florida income property:

www.CashFlowAndGrowth.com

Ali Boone's Recommended Book:

https://amzn.to/2NsMVlF

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.

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

@getricheducation

Keith's personal Instagram:

@keithweinhold

348: How To Raise Rents, Update On Florida Income Property Jun 07, 2021

Show notes

With only small rent increases, your cash flow can rise 20-50%. Learn how to successfully achieve these small rent increases.

Also, learn what to never say to your tenant. It's a mistake that I made.

Make gradual rent raises and provide justification for the increase.

Florida's surging net in-migration provides tons of rent-paying tenants. The numbers work here for out-of-state investors.

Learn more & get properties at www.GetRichEducation.com/CentralFlorida

These new construction SFRs are often $200K. Investors must come in all-cash and do a cash-out refinance later.

This BRRR is: Buy, Rent, Refinance, Repeat. (No rehab.)

Rent-to-price ratios are near 0.8%. Insurance premiums are often extremely low on these brand new builds.

Renter demand is astounding. There are more than 1,000 tenants on waiting lists for these new-build Florida SFRs on quarter-acre infill lots.

Get started with new construction Florida income property at: www.GetRichEducation.com/CentralFlorida

Resources mentioned:

Find new-build Florida income property:

www.GetRichEducation.com/CentralFlorida

Show Notes:

www.GetRichEducation.com/348

Get mortgage loans for investment property:

RidgeLendingGroup.com

JWB's available Florida income property:

www.CashFlowAndGrowth.com

Ali Boone's Recommended Book:

https://amzn.to/2NsMVlF

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.

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

@getricheducation

Keith's personal Instagram:

@keithweinhold