Real Wealth Show: Real Estate Investing Podcast

I've had a lot of people ask me if they should use their savings to buy a primary residence or a rental property. As usual, the answer is "it depends." And in this case, maybe the answer is "do both!" At a recent event, a young couple came up to me and told me they had saved $200,000 to buy a home. First of all, I was so impressed! Few people save money today. Then I asked if they had started house shopping yet and if they could afford a home they'd want to live in for a long time. They told me it wouldn't be their dream home. It would just be a condo. Here was my response: If you want to live in a home for a long time for something like raising a family, buying can make a lot of sense if you find a nice community with good schools. The mortgage payments may be a little more than what you'd pay for rent, but when you include the tax benefits, that home loan can be cheaper than rent. Plus, if you have a fixed-rate loan, you don't have to worry about your rent going up. It will remain the same for the life of the loan. However, what if you could buy the home you want to live in with a smaller 3% down payment and use the rest of the funds to buy rental property? The cash flow would offset the difference in your mortgage payment, and you'd be building a bigger portfolio. Lindsey Johnson, President of US Mortgage Insurers, will take a deep dive into mortgage and home financing options, and give us some insights on current public policy on housing and its ramifications on home buyers and investors. www.RealWealthShow.com  

OPM is the key to building wealth quickly. Understanding how to "use other people's money" will help you acquire more than you could just using you own cash.  But you have to do it right. Unfortunately, lots of people are trying to take investor money when they don't really have the experience to do so. My guest today has been putting on events to help people raise money properly. In fact, I'll be speaking at his Raising Money Summit in Denver this weekend. www.RealWealthShow.com For tickets to the Raising Money Summit in Denver this weekend go to: https://www.westword.com/event/raising-money-summit-2019-general-admission-11339043  

Many tech experts are predicting big changes with the new 5G cellular signal. They say 5G will make data connections instantaneous, and will revolutionize many up-and-coming technologies including driverless cars, remote healthcare, emergency services, augmented reality, and many more. Exactly what is 5G? Why are so many people predicting a major transformation? And how will it impact our lifestyles and real estate in particular? Our guest today, Samantha Radocchia, is an emerging Tech and Innovation Expert with Singularity University and  Author of Bitcoin Pizza: The No Bullshit Guide to Blockchain. In this interview, she will share: A user-friendly definition of 5G. Why so many people are predicting a major 5G tech transformation. How it will impact our lifestyles with 10 real-world examples. How it will Impact real estate, in particular. The 5G roll-out timeline, which is already underway. When we should jump in and buy a 5G phone. The downside and obstacles to 5G. www.RealWealthShow.com  

I’m excited for today’s interview with the one and only Ken McElroy. Ken has experienced massive success in the real estate, with over 10,000 doors and over $750 million investment dollars in his projects. He’s the author of best-selling books: "The ABC’s of Real Estate Investing," "The Advanced Guide to Real Estate Investing," "The ABC’s of Property Management," and his most recent title, "The Sleeping Giant," on entrepreneurship. www.RealWealthShow.com  

August has been a volatile month for the global economy and for stock investors. Nearly every news channel is screaming that a recession is around the corner, and some European investors are accepting negative returns for bonds. Should real estate investors be panicking? Should we be mining for gold? Today's guest has been predicting a financial reckoning for some time now. He has been recently associated as the voice of doom and gloom, but I think he's really pointing out the inevitable — that people can't go into debt forever and expect a positive outcome. www.RealWealthShow.com  

I'm not a very good golfer, and I'm even worse at Topgolf because there's an audience and alcohol involved. But I am excited to introduce today's guest, who came up with the wild idea of turning a  high rise bar into a driving range. It's the epitome of cool, and has been quite a success. This interview was done live at Singularity University's Global Summit in San Francisco last month. You may have heard about Singularity through it's famous founders, Peter Diamandis and Ray Kurzweil. SU is located in the Silicon Valley and it's not only a business incubator, it's a global community that uses cutting edge "exponential" technologies to tackle the world’s biggest challenges. I am happy to have as our guest today the Executive Chairman of Singularity University. Erik Anderson. Erik is the Founder and Chief Executive Officer of WestRiver Group (WRG) since 2002. WRG is a collaboration of leading investment firms providing integrated capital solutions to the global innovation economy.  Anderson is also the Executive Chairman of Topgolf Entertainment Group, a global sports entertainment company. In this role, he has received numerous honors, including the Ernst & Young Entrepreneur of the Year Award.  In 2018 and 2017 he was honored by Goldman Sachs as one of their Top 100 Most Intriguing Entrepreneurs. In 2018 he was ranked by Golf Inc.as the No. 3 most powerful person in the golf industry after being ranked No. 8 the previous year. Anderson is Vice-Chairman of ONEHOPE, a cause-centric consumer brand and technology company, most commonly known for their award-winning wine and world-class vineyard in Napa, Calif. Additionally,Anderson is the founder of America’s Foundation for Chess, currently serving 160,000 children in the United States with its First Move curriculum.     www.RealWealthShow.com

Today we're going to talk about how one of our Real Wealth Network employees is living the dream of "real wealth" on a budget. 10 years ago we put out an ad on Craigslist for a receptionist. It was 2009, smack dab in the middle of the Global Financial Crisis. Not too many real estate companies were hiring at that time, but Real Wealth Network was booming. The unemployment rate was massive, so we had thousands of applicants for the receptionist position. I was so overwhelmed I just asked people to show up at our next event to meet in person. Only 3 people showed up and Maggie Pike was one of them. She has been with us ever since in many roles, from receptionist, to event planner, to my assistant, to Director of our Real Wealth Academy, and now as our Director of Syndications. And, as of Saturday, she is now Mrs. McKinnie. Maggie and her new husband Marc are building a real estate portfolio while living their dream of traveling the world. They are such an inspiration, I decided to interview them for this week's Real Wealth Show. Enjoy!   www.RealWealthShow.com

Buying your first rental property may seem like a monumental task. You have to work outside your comfort zone, to try something new and learn as you go. It's even more difficult if your first properties are out-of-state. So what does it take to pull the trigger on a plan to buy rentals many miles from where you live? How do you manage your properties if you don't live nearby? How do you protect yourself from bad tenants? How do you deal with local issues like storms and flooding? What kind of insurance and back-up reserves should you have for unexpected events? Our guest today is based in California. He took took the leap and has become a long-distance landlord with properties in four different markets. He's here to share his story and some of the things that he's learned. It's a great way to help potential investors make that first move, so let's find out how it's going for Alek Mukherji and his portfolio of single-family rentals. www.RealWealthShow.com  

What were you doing during the 2008 financial meltdown? Perhaps you weren't invested in real estate so you weren't affected. Or maybe you got started buying real estate right after the crash and took advantage of record low home prices due to all the foreclosures. Or maybe you got hit hard like millions of Americans, handing the keys to your property back to the bank. Either way, it's important that we don't forget what happened just 10 years ago. Just like me, today's guest was in mortgage lending during the financial crisis. She had helped her family invest in homes in her own name and when they couldn’t pay during the crisis she was hit really hard, and just like me, she learned some tough lessons. But after the crisis she became a realtor because she knew how to do short sales and she became very successful at that. During this time she was helping her relatives Craig and Arlene Turner invest in a duplex in Stockton, and they told her to listen to the Real Wealth Show. Now, she’s been investing her realtor income through Real Wealth Network for the past four years and has learned a lot of lessons but considers it all a blessing. So let's find out the ups and down of her journey. www.RealWealthShow.com  

There's been a lot of headline news about Detroit, specifically that you can buy a home there for $1,000. The Detroit Land Bank Authority is trying to put run-down and vacant properties to productive use. As such, it is now auctioning off thousands of publicly owned properties through its public platform Auction— and the bidding starts at $1,000.  To put that price into context, as of June 2019, the median home price in the Detroit metro area is $163,100. And as of April 2019, the city's median household income is $30,344. So is this a good idea?  I thought it would be a good idea to bring in our Detroit full service property provider /property manager to tell us what's going on.   www.RealWealthShow.com