Get Rich Education

207: The Spender vs. The Saver | DealCheck app Sep 24, 2018

Show notes

#207: I am a spender. Our guest is a saver. Spenders defer financial wealth. Savers defer quality of life.

This interview takes a sweeping turn when our guest tells us he's "very frugal", because I'm not.

Hear my "The Spender vs. The Saver" commentary in the last ten minutes of the show.

The creator of one of the world's most successful real estate investing apps, Anton Ivanov and the DealCheck app, joins us today.

I've used myself. It's great, and free. For 25% off the optional premium upgrade, use Discount Code GRE25OFF.

From his San Diego homebase, Anton has grown his nationwide portfolio to 35 units and $11K of monthly cash flow.

He owns in Kansas City, Birmingham, and Atlanta.

The Spender vs. The Saver: there is no right or wrong. This is why it is called PERSONAL finance.

__________________

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

__________________

Listen to this week's show and learn:

02:05 Infographic: 5 Ways Real Estate Investors Get Paid.

04:43 Anton Ivanov's investor story: duplex, turnkeys, apartments.

19:35 The Spender vs. Saver.

31:18 DealCheck phone app: analyze cash flow, cap rate, CCR, etc. Integrates with MLS. It's free.

For 25% off a premium upgrade, use Discount Code GRE25OFF

39:21 My commentary: The Spender vs. The Saver.

Resources mentioned:

DealCheck app: Code GRE25OFF

New Orleans Investment Conference

206: Your Questions: Debt, BRRRR, Mortgage History Since 1935 Sep 17, 2018

Show notes

#206: Student loan debt vs. real estate investing. Where should you devote your dollars? You get answers.

I tell you how to eliminate investing "uncertainty".

The "BRRRR" real estate investing strategy is discussed - pros and cons. It's a hybrid between flipping and buy-and-hold.

Turnkey vs. BRRRR real estate investing.

I cover the history of mortgages from the 1930s to today. FDR and World War II had substantial impact.

Fannie Mae was born in 1938. Freddie Mac didn't begin tracking mortgage rates until 1971.

2000 was the last year that mortgage rates (30-year FRMs) exceeded 8%.

The median 30-year mortgage rate since 1971 is 7.7%.

Let's meet in-person at the New Orleans Investment Conference.

__________________

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

__________________

Listen to this week's show and learn:

02:13 Student loan debt vs. real estate investing.

07:53 The BRRRR Strategy: pros and cons.

17:00 Turnkey vs. BRRRR real estate investing.

19:44 History of mortgages: 1930s to today.

26:33 The median 30-year mortgage rate since 1971 is 7.7%.

28:56 Let's meet in-person at the New Orleans Investment Conference.

Resources Mentioned:

GetRichEducation.com/Cleveland

205: A Diamond In The Rust Belt Sep 10, 2018

Show notes

#205: A dollar is not money. Money serves three purposes. It is a:

#1: Medium Of Exchange

#2: Unit Of Account

#3: Store Of Value

There is an opportunity for you to invest in cash-flowing real estate in Cleveland (link).

After discussing the roles of money, currency, and real assets, we discuss the Cleveland, Ohio real estate investing market.

Generally, if a place is too desirable to live in, it is a bad place to invest in long-term rental real estate for cash flow. But it must be attractive enough to retain residents.

Cities must reinvent themselves when manufacturing wanes. Cleveland has doubled-down on medical technology and has become a world leader in health care.

Eight Fortune 500 companies are headquartered here. The Cleveland Clinic is a world health care leader.

Neighborhood selection, pockets for long-term appreciation and cash flow discussed.

Typical in Cleveland: 3 BR / 2 BA, $700 - $1,000 rent, $80,000 price, 2% property tax.

This provider: financing-friendly, in-house management, guarantees, annual inspection, give tours.

__________________

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

__________________

Listen to this week's show and learn:

02:06 Money and currency roles.

04:08 Real assets.

05:53 "Too desirable" to live in a place.

10:18 Medical and technology replaces manufacturing.

11:00 Why companies are spending more to renovate homes.

16:24 Cleveland culture.

19:12 Fortune 500 companies - eight headquartered in Cleveland.

21:49 Forbes named Cleveland the top cash-flowing rental market.

24:22 Why SFHs?

29:58 Typical: 3 BR / 2 BA, $700 - $1,000 rent, 2% property tax.

32:04 Provider, financing-friendly, in-house management, guarantee, annual inspection.

35:45 Interested? Get the investing report at www.GetRichEducation.com/Cleveland.

Resources Mentioned:

The Real Estate Guys

Cleveland Turnkey Real Estate

204: Why Your Property Could Never Appreciate | Guest Matt Theriault of Epic Real Estate Investing Sep 03, 2018

Show notes

#204: Your real estate ROI could be a billion dollars.

Even if your property never appreciates nor pays you the other four ways, I discuss a little-considered way where you're STILL profiting.

Real estate price and value are different.

"Return ON Equity" vs. "Return FROM Equity" discussed.

Are you leveraging appreciation or leveraging inflation?

Inflation assists leveraged real estate investors 3 ways: asset inflation, debt debasement, and higher cash flows.

Real estate flipping vs. investing is discussed with Matt Theriault.

Matt and I discuss the mindsets around passive income vs. active income.

The importance of markets and teams.

__________________

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

__________________

Listen to this week's show and learn:

02:13 Your ROI.

03:54 If your property never appreciates or pays you, here's how you profit.

07:08 Leveraging inflation, not appreciation.

13:10 Cleveland cash-flowing property.

15:33 Matt Theriault joins us.

22:25 Retirement. Piles vs. streams of income.

29:12 Flipping vs. Investing.

31:08 Markets and teams.

35:42 You must act.

Resources Mentioned:

Warren Buffett Quote

Matt Theriault Website

Video Course: Wealth Formula Roadmap

203: Wealth Without Debt Is Impossible, Doctors & Investing - with Dr. Buck Joffrey Aug 27, 2018

Show notes

#203: Doctors' debt is $200K-$600K+ after medical school. Should they pay it off or invest in real estate instead?

Most view doctors as "successful" - they help people and earn more than most.

Dr. Buck Joffrey joins us. Are doctors "too academic" to be concerned with investing? They miss out.

Get his great Wealth Formula Roadmap Course.

Young doctors often ask veteran doctors what to do with their money. They get referred to a typical financial advisor.

"The Rule Of 72" is misleading. Mutual fund investors often make zero return.

It is impossible to build substantial wealth without (good) debt. That is, debt that's outsourced to others, like tenants.

I give a concrete example of how debt creates wealth for you with a $1M building where you make a small down payment.

Inflation dilutes the weight of your debt.

Wealth Formula = Mass x Velocity x Debt

Dr. Joffrey's first apartment building was bought based on "a promise" - a pro forma on a Class D building. It was awful.

_______________

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

_______________

Listen to this week's show and learn:

02:10 My chat with a new medical doctor and his $450K debt.

06:00 Dr. Buck Joffrey interview begins.

09:05 Are doctors "too academic" to be concerned with investing? They miss out.

12:15 When you have a Dad that's in real estate investing.

14:35 "The Rule Of 72".

16:43 Flawed conventional wisdom.

20:00 Debt.

24:58 Inflation-profiting from debt.

28:39 The mathematical wealth formula.

30:13 Dr. Joffrey's first apartment building was a loser.

31:50 Wealth Formula podcast.

33:47 Dr. Buck Joffrey's video course: Wealth Formula Roadmap.

Resources Mentioned:

Book: Cashflow Quadrant

Reuters: Home Sales Sag, Prices Rise

202: Rise Of Single-Family Rentals, Buckets vs. Sprinklers Aug 20, 2018

Show notes

#202: $108,000 was my highest salary from my day job. I discuss.

There's high housing demand and low supply. Then why are homebuilders slowing down? You get answers.

SFHs comprise 30-35% of all U.S. rentals. 90% of rental SFHs are owned by "mom & pops".

Learn how to exploit real estate's geographic arbitrage.

How are you living? Metaphorically, are you using water buckets or a sprinkler system?

Meet me in-person at the New Orleans Investment Conference, Nov. 1st to 4th.

I made an infographic to send you: "The 5 Ways Real Estate Investors Get Paid".

_______________

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

Listen to this week's show and learn:

02:12 Supply vs. Demand and "Capacity To Pay".

03:59 Homebuilding slowdown.

10:40 SFHs comprise 30-35% of all rentals. 90% of rental SFHs are owned by "mom & pops".

13:02 Geographic arbitrage.

16:39 Water Buckets vs. Sprinkler Systems.

19:06 Security vs. Freedom.

23:48 Meet me in-person in at the New Orleans Investment Conference, Nov. 1 - 4th: https://goldnewsletter.com/wp-content/uploads/2018/07/NOIC_2018_GRE.html

27:32 Infographic: "5 Ways Real Estate Investors Get Paid."

Resources Mentioned:

Meet Me In New Orleans, Nov. 1st - 4th

Book: "How To Be In The Top 1%"

201: How To Qualify For Income Property Loans with Caeli Ridge Aug 13, 2018

Show notes

#201: Your down payment, credit score, reserves, debt-to-income ratio necessary for an income property loan are discussed.

Ridge Lending Group President and CEO, Caeli Ridge, also tells you 15% of appraisals come in low, 80% right on, and 5% above the contract sale price.

Can a bank call your mortgage loan payment due-in-full anytime? Short answer is "no". We discuss.

Learn some good options after your first 10 loans (single) or 20 (married) are exhausted.

We discuss the effect of higher mortgage interest rates on your cash flow.

HELOC interest is not always tax deductible. Be mindful that Trump doubled the standard tax deduction threshold.

_______________

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

Listen to this week's show and learn:

02:58 Receiving sale price discounts for paying cash rather than financing property.

08:48 Two sets of underwriting guidelines: loan spots 1-6, loan spots 7-10.

18:40 Can a bank call your loan due-in-full anytime?

22:50 Max. LTVs on cash-out refis.

26:56 Portfolio financing beyond ten loans: 6.375% interest rate.

31:00 Higher interest rates than last year.

33:27 Appraisals.

36:26 Underwriting guidelines: too loose or too tight today?

39:15 Phone 855-74-RIDGE | www.RidgeLendingGroup.com | info@ridgelendinggroup.com

40:23 HELOCs on income property: difficult to find, 65% LTV.

41:27 Tax-deductible interest, standard deduction threshold.

Resources Mentioned:

Videos: GetRichEducation.tv

200: Die With Memories, Not Dreams Aug 06, 2018

Show notes

#200: Discover your "why" in life and real estate.

You should have a selfish why and an altruistic why in real estate investing.

I summarize today's economy and asset values: GDP growth, real estate, stocks, interest rates, cryptocurrency, oil, dollar, precious metals, The Fed.

As a Forbes writer, I'm going on offense, not defense.

You hear the audio clip: "7 Minutes To A Wealthy Mindset".

Enjoy this milestone 200th Episode - the Bicentennial Installment of GRE!

_______________

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

Listen to this week's show and learn:

00:52 Up and down market cycles.

02:02 You live a great life.

04:33 Your "why".

10:02 Why I'll never paint a wall or mow a lawn again.

14:58 Programming changes.

16:07 Today's economy, GDP, asset values.

25:12 At Forbes, I'm going on offense, not defense.

26:52 Audio clip: "7 Minutes To A Wealthy Mindset" video.

Resources Mentioned:

My Forbes article: Home Equity

Apartment Investor Mastery: BradSumrok.com