Get Rich Education

Everyone is moving here. Where is "here"? You get an answer that you never expected. Among those that move, it's not for job-related reasons. It's housing-related. The American mobility rate has declined from 20% in the middle of the last century to 8.4% today. Learn three reasons why more Americans are staying in-place. Lower domestic migration can have positive results like: less stress, more community formation, longer tenancies, and a boon for the remodeling industry. The negative impacts include headwinds for real estate agents and mortgage loan companies. Should you rent or own the home that you live in? Learn 18 rent vs. own trade-offs. Paying rent is NOT the same as throwing money away. Join me live on tomorrow's webinar about car wash cash flow. You can ask me questions. Register free now at: www.GREwebinars.com Resources mentioned: Show Notes: www.GetRichEducation.com/432 Join me live on tomorrow's car wash webinar: GREwebinars.com Most Americans Couldn't Afford To Buy Their Own Home Today: https://thehill.com/policy/finance/3791139-most-americans-couldnt-afford-to-buy-their-own-home-today-survey/ Get mortgage loans for investment property: RidgeLendingGroup.com or call 855-74-RIDGE or e-mail: info@RidgeLendingGroup.com Analyze your RE portfolio at (use code "GRE" for 10% off): MyPropertyStats.com Memphis property that cash flows from Day 1: www.MidSouthHomeBuyers.com I'd be grateful if you search "how to leave an Apple Podcasts review" and do this for the show. Top Properties & Providers: GREmarketplace.com Best Financial Education: GetRichEducation.com Get our wealth-building newsletter free—text 'GRE' to 66866 Our YouTube Channel: www.youtube.com/c/GetRichEducation Follow us on Instagram: @getricheducation Keith's personal Instagram: @keithweinhold

What happens when a real estate investment goes sideways? An international business was impacted—Panama coffee farms. The pandemic disrupted coffee supply chains and labor. Erratic weather affected crop yields. It's been about four years since we've discussed this on the show. The Panamanian government shut down many businesses. There was little or no government assistance for idled workers. The co-founder explains Panama coffee problems and opportunities. Learn why the coffee parcel deed issuance has been slow for investors. There's a new distribution partner going forward, named Typica. They help sell the coffee. This is all high-end, specialty coffee, like the geisha variety. Coffee farm parcels are in the volcanic soil highlands of western Panama, near Boquete. It's shade-grown. The provider has acquired their 12th coffee farm. If you'd like to learn more about the investment, start at GREmarketplace.com/Coffee There are upcoming group tours in March and May. Resources mentioned: Show Notes: www.GetRichEducation.com/431 Learn more about Panama coffee farm investing: GREmarketplace.com/Coffee Get mortgage loans for investment property: RidgeLendingGroup.com or call 855-74-RIDGE or e-mail: info@RidgeLendingGroup.com Analyze your RE portfolio at (use code "GRE" for 10% off): MyPropertyStats.com Memphis property that cash flows from Day 1: www.MidSouthHomeBuyers.com I'd be grateful if you search "how to leave an Apple Podcasts review" and do this for the show. Top Properties & Providers: GREmarketplace.com Best Financial Education: GetRichEducation.com Get our wealth-building newsletter free—text 'GRE' to 66866 Our YouTube Channel: www.youtube.com/c/GetRichEducation Follow us on Instagram: @getricheducation Keith's personal Instagram: @keithweinhold

Answer this one question and you won't have money concerns for the rest of your life. The Dow Jones once fell so hard that it didn't recover for 25 years Japan's NIKKEI peaked in 1989 and still has not recovered. I discuss the differences between an economic recession and depression. During the 2008 housing crisis, national housing values only fell 19%. Originally, 401(k)s were called "Salary Reduction Plans". They had to scrap the name to foster participation. Some investing questions are: How do I max out my 401(k)? How can I attend my dream college? How can I become a millionaire? After building context, I reveal the most important question in the investing world. Learn how to keep emotions separate from investing. The vital question is: "Will this property secure an income stream?" Resources mentioned: Show Notes: www.GetRichEducation.com/430 National Median Home Prices: https://fred.stlouisfed.org/series/MSPUS Get mortgage loans for investment property: RidgeLendingGroup.com or call 855-74-RIDGE or e-mail: info@RidgeLendingGroup.com Analyze your RE portfolio at (use code "GRE" for 10% off): MyPropertyStats.com Memphis property that cash flows from Day 1: www.MidSouthHomeBuyers.com I'd be grateful if you search "how to leave an Apple Podcasts review" and do this for the show. Top Properties & Providers: GREmarketplace.com Best Financial Education: GetRichEducation.com Get our wealth-building newsletter free—text 'GRE' to 66866 Our YouTube Channel: www.youtube.com/c/GetRichEducation Follow us on Instagram: @getricheducation Keith's personal Instagram: @keithweinhold Full transcript: Welcome to GRE! I'm your host, Keith Weinhold. Happy New Year! What is the most important question in the entire investing world? It is a vital one - and this coming year makes it as relevant as ever. Asking yourself this question & answering it can make you wealthy - and you've probably never even heard this question before. That & loads of financial education, today on Get Rich Education! _____________ Welcome to GRE! From Lake Champlain, NY to Lake Charles, Louisiana and across 188 nations worldwide, you're listening to one of America's longest-running and most listened-to investing shows. I'm your host. My name's Keith Weinhold. I'm grateful to be here myself. Thank you FOR being here… and you aren't here for me. You're here for you… so let's build your wealth today. What's the most important, vital, essential, and almost MANDATORY question in the investing world today? While you're thinking about that, let me build some context so that it makes sense. Now, why don't we discuss stocks more on the show here? When most people hear the word "investing", they might think of stocks first. Their mind might shoot there immediately. When someone refers to the market, they just simply say, "the market", they typically mean the stock market, like the DJIA or the S&P 500. Look, with persistently higher interest rates, it's likely that economic headwinds are still coming. Now, what if things got worse than a recession and we entered a depression? I'm not saying that it's likely, but let's look at what CAN happen because this actually HAS happened. What can happen in a depression?! The stock market falls and doesn't recover for 25 years. That's not a guess. That really happened in the United States! Yes, the DJIA peaked in 1929. The market crash hit. These were the times of "The Great Depression". Stocks lost nearly 90% of their value. Yes, 90%. That means that after a loss like that, stocks would have to rebound 9X, 900% just to get back to even. Well, I told you that the US stock market crashed in 1929. The Dow didn't fully recover until late 1954. Yes, 1929 to 1954. That is fully 25 years… just to get back to even. 25 years of zero gain. It HAS happened, right here in the USA, the most powerful nation in the world. Well, you might wonder… ah, c'mon, could that really happen to any major stock market in an ADVANCED economy today, in more modern times, even if things got really bad? Oh, yes, things don't even have to get really bad. Understand that the third-largest economy on earth, still to this day is Japan. Japan's NIKKEI peaked in 1989. It still hasn't recovered from its high 34 years ago. Yes, that's the MAIN stock market index for Japan - the Tokyo Stock Exchange. That's still going on right now, today. It still hasn't recovered back to its 1989 level. It's not even close today. So it doesn't even TAKE a depression for those stock market calamities to occur in major world nations' stock markets. Well, what's the difference between an economic recession and a depression? The short story is that a recession is a substantial downturn in ONE nation's economy, and an economic DEPRESSION is widespread across many nations. And there are some other distinctions. Right? And the old joke is that a recession is when your neighbor loses their job and depression is when you lose YOUR job. Well, what about real estate? Real estate values don't always go up. What happened to real estate in its ugly downturn about 15 years ago where we had a mortgage meltdown from liar mortgage loans and a glut of housing supply? (neither of which are happening now, BTW) During the ugly Global Financial Crisis in & around 2008 & 2009. Well, during that time, real estate went down 19% nationally. Yes, on a nominal basis, the national median home price was down 19% from $257K down to $208K. That's it? Maybe you're thinking, "that's it"? 19%. This is when everything was going wrong for housing and it didn't even reach 20% bear market territory fifteen years ago. And btw, I will put the link to the chart that shows this in the Show Notes for you. Yes, we really do put links in the Show Notes for you when I tell you that we will. Haha! You can see that at GetRichEducation.com/430 This is episode 430 of the GRE Podcast, so just go to GetRichEducation.com/430 to see today's resources and today's show notes also, you have access to an entire transcript - all of the lyrics… like we do for some of our episodes here. So that if you have a deaf or hard of hearing person in your life, they can, I suppose "read" today's show rather than listen to it. Or maybe you want to read along as you listen… or read after you listen in order to reinforce your learning. Now, at the start of the recession in 2008, the national median housing value was $234K… and it took all of but four years to recover and exceed that level. Yes, from the start of the GFC, housing values only took four years to recover. The source of that information is the Census Bureau & HUD. That data is also available for you in the Show Notes at GetRichEducation.com/430 So the point is that real estate or stocks can lose value. But real estate is substantially more stable. If you buy RE in a good market and you have an average or better PM (meaning they're "just OK" with screening tenants), then you can sleep well. It's hard to lose big. You might not even be in real estate for the values. You might be in it for the cash flow. This is helping you build context and provide you with a clue about The Most Important Question in the entire Investing World. While you're still pondering what that question might be, because I'll build some more context for you so that this question makes complete sense… and let's start to isolate it here. Real estate builds wealth. Stocks though, can maintain wealth after you've built it. But you've got to build it first. So that's why this most important investing question today… isn't about stocks. Well, what about stocks or mutual funds in a retirement plan? Is that more relevant? Enjoy the compounding growth on PRE-tax dollars & all that. Take stocks' 10% return and like I detailed two episodes ago, adjust that down for inflation, emotion, taxes, fees, and volatility… and what do you have left? I'll tell you what the key question is not. How can I max out my retirement plan? Oh geez. The new annual contribution limit to 401(k)s this year is $22,500 BTW. I'll admit, I used to have a day job and I maxxed out my retirement for a few years before I realized that maxing out my retirement… … was minimizing my present. And minimizing next year, and minimizing next decade, and minimizing my life for decades until I hopefully was still not just alive… but actually healthy enough to truly enjoy DEFERRING my quality of life all those decades. Maximizing your retirement contribution means that you're living a SMALLER life for decades. The risk of delayed gratification is denied gratification. Now there IS something to be said though, for the psychological benefit of you having something saved for the future, even if it certainly diminishes your life in the near-term. Instead, with income property, I discovered that I can invest in something that pays me an income stream TODAY… without jeopardizing my future one bit. In fact, I'm paid an income stream TODAY AND I will get a better return than my 401(k) long-term and the tax benefits too. Today's mainstream media tells you that it's a bad time to buy real estate because prices & interest rates are up in the past year. But they're talking about primary residences. Instead, with rental property, your tenant pays all of your mortgage principal & interest for you & all of the operating expenses & a little on top of that called cash flow. So "How do I max out my retirement?" That is not a great investing question. You're contemplating how to defer your quality of life, delay your standard of living, and live a life of less. Now, here's another bad question. I heard a teenager say this the other day, "I want to attend my dream college." "How can I attend my dream college?" Dream college? What? College is still necessary for some skilled professions. But like we touched on last week here on the show, the value of a college degree is down yet the price of a college degree is up. That's why enrollment has been steadily declining since 2012. But, even worse, "How do I attend my dream college?" Who would even ask that question? It COULD matter whether you have a degree or not. But no one cares what school you went to. No one cares what your college grades are either. The last time that you went to go see the doctor, do you feel like you got a good quality of care from them or not? That's what you REALLY care about. Did you want to know what college or medical school your doctor graduated from before you saw them? Do you even know what college they went to? It doesn't matter. Did you ask your medical doctor about what their college GRADES were? See. It doesn't matter. Now, I actually don't think college is a complete waste. I got a 4-year-degree. I learned some things. But it wasn't the most efficient use of my four years. But "dream college"? Who cares? Not a good question. "Attend My Dream School". It makes no sense. Here's a third question that is NOT the best question that you can ask yourself in investing today: "How Can I Become A Millionaire?" Ugggh. Awful question. I think that longtime listeners know where I'm going with this one. But let me update it because we've had some substantial inflation for almost two years now. Let me tell you - you don't want to be a millionaire. The definition of a millionaire is not someone that makes a million dollars a year. It's having a million dollar net worth. So if you add up the value of all of your assets and it totals 1-and-a-half million dollars and then add up the sum of your debts and that a HALF million dollars. Well, your net worth is 1.5 million in assets minus a half million in debts which equals 1 million. That is not where you want to be. Now, maybe if your 75 years old and you think you've got ten years left to live, you could live a somewhat modest life on a million dollars. But, as you can see, that's not where most people want to be. Inflation has rendered the term "millionaire" nearly to middle class now. The middle class is getting eaten by wages that don't keep up with inflation. A single millionaire will probably be a POVERTY marker within my lifetime. Now, if you're a millionaire that has $200K of CASH FLOW each year, that's different. That's better. Net worth is not as important a measure as your residual income stream. But just a millionaire? Wrong trajectory. Avoid. Avoid. Avoid. So maxxing out retirement plans, attending a dream college, or setting out to be a millionaire are all losing financial plans… and they are all losing life plans. We are building some context and eliminating some paradigms as I'll soon posit "The Most Important Question in the entire Investing World". There is one question that can make you wealthy - and you've probably never heard this question before. And if you act on the ANSWER to this premium best investment question to ask yourself… you probably won't have money concerns for the rest of your life. I think it'll all make sense when I reveal it later today. While you're been thinking about it, I've been building some context and a foundation about why this question matters, and why those other ones don't. If you're new to the show, again, I'm Keith Weinhold. I'm a 20-year REI in the US. I am an active member of the Forbes RE Council. I write all of our articles on GetRichEducation.com too. I'm also a financial columnist for the Epoch Times. I host this weekly Get Rich Education podcast every single Monday - this show right here. We don't miss shows. I have never missed a week. And we also don't replay old shows. Fresh material here for you every single week. Most every financial influencer has been here with me as a guest on the show, running alongside me, including Robert Kiyosaki, Grant Cardone, Jim Rickards, Chris Martenson, T. Harv Eker, most anyone that you've heard of. Besides writing for GetRichEducation.com, Forbes and Epoch Times, I also write our weekly "Don't Quit Your Daydream" newsletter that I send directly to you. Then, I am the "talent" - if you can call it that - that's what it's called in the industry "the talent". It makes a slackjaw like me feel uncomfortable saying it. I am the "talent" on the Get Rich Education YouTube Channel as well - building your wealth over there. I also host webinars to help you get started with real estate. That's where we look at actual addresses together and more. That's something that we just began a few months ago. I am also your instructor for a fastcourse that I made specifically for you at: GetRichEducation.com/Course Those five course videos that average just 12 minutes each could comprise the most powerful and impactful 1 hour of investing instruction that you will ever see. That's free, again, at GetRichEducation.com/Course When you know what you're doing in real estate, you're often getting paid five ways. And when you're profiting like this, you're not tempted to cut corners. When you're not cutting corners, you are providing others with good housing. Let's do good in the world. Provide good housing and let's abolish the term "slumlord" in this nation. Everything that I do here is completely free for you - every single thing that I just mentioned is free. If you like our mission, and our direction - doing the right thing before you do things right - I invite you to "Subscribe" to our show now. You don't have to. But consider it. Subscribing to Get Rich Education on your podcatcher is the only way you're certain to NOT miss one wealth-building show. More next. I'm KW. This is Get Rich Education. __________ Welcome back to GRE Podcast 430. I'm your host, Keith Weinhold. We are in our 9th year of coming at you every single week, 52 weeks a year. There is one question that can make you wealthy - and you've probably never asked yourself this question before, or perhaps even HEARD this question before. And if you act on the ANSWER to this premium best investment question to ask yourself… you probably won't have money concerns for the rest of your life. It begins with keeping your emotions separate from investing. When it comes to buying a LT rental property, some of the worst advice that I've ever heard is: "Only buy a rental property if you would live in it yourself." Oh! That really limits your ability to put the most profitable income properties into your portfolio. Now, of course, you had better only buy a primary residence that you would want to live in yourself. But it's definitely NOT that way with income property. It is not that way with rentals. Yet you need some standard here, however. Look, years ago, I had a friend that saw me as a successful REI, so he wanted me to tag along with him to go out and tour rental properties on the weekends so that my experience might inform him on which property to buy and which ones to avoid. Most of them were unsuitable. Unsuitable SFR, unsuitable condos, unsuitable duplexes and triplexes and fourplexes. But we found one together - a fourplex - that I thought was suitable and he didn't. The reason that he didn't like this, oh, about 1980-built fourplex building is because - though it was well-kept, some of its finishes looked dated. One of the four units had a pink color-themed bathroom that had this sorta weird-looking pink wall tile and pink sink and pink bathtub. It all matched though. But yeah, it looked dated. And another one of the fourplex unit bathrooms had those same bathroom fixtures but in a dated-looking olive green. And the third a light blue, and then the fourth was a totally renovated new bathroom. Well, it didn't matter that the bathrooms didn't match each other. Each family in the fourplex had their own unit in these 2 bed, 1 bath units. And here's the thing. The building was well-kept, it was fully-occupied, and it had a good history of occupancy. That's why the fourplex checked my "buy box" but my friend didn't want to buy it. He just couldn't get over the emotions that he felt in, say, a pink bathroom. See, he couldn't see living there himself. But he was not GOING to live in the fourplex himself. He would be an investor that lived offsite. That didn't make any sense to me. He gave in to emotions, and lost out on a profitable property. So when an investor says that they wouldn't live in an income property themselves, my response is often, "Oh, I didn't know that you planned to live there." Because often times, the investor does not. Emotions got the best of my friend… and he didn't buy this property that would have been a winner. Here's a different case. Now, being sentimental is an emotion. I've known someone that strongly considered buying a rental property in their own neighborhood chiefly because they used to play basketball at that house back when they were a teenager. Sheesh, that's an awful strategy. Investing is about facts, not feelings. And certainly not the feelings that are evoked because you slam-dunked a basketball for the first time on an 8' rim when you were 13. Ugggh. Dreadful investing strategy! Would that property's income exceed its expenses? Sentimental feelings are an emotion. Instead, investing is about the facts. Now, we're building some backstory and context. We are hitting closer to home for what I soon want to reveal as the best investment question that you can possibly ask yourself. Now it's pretty likely that you want to avoid buying property in a badly blighted, crime-ridden neighborhood that's also trending in the wrong direction, even if the property is CHEAP. Because in those areas, it's hard to find a respectful, rent-paying tenant… and the property could depreciate in value at the same time - in a tough neighborhood. Actually, you typically want to avoid BEAUTIFUL neighborhoods too. Yes, "avoid beautiful". That can sound unusual to newer REIs, but for LTRs, beautiful isn't profitable. The rents aren't high enough there. So, depending on your target market, to go from a working class neighborhood (where the numbers often make sense) to an upper crust neighborhood, rents might triple but purchase prices could 10X. That's a losing formula for you. So because you want to avoid rough neighborhoods and avoid beautiful ones, what you want to be attracted to are working class, SAFE enough neighborhoods that are just a little below the median home price. You don't want to go so low that you're beneath the safe bar. What are the condition of the cars like in the neighborhood? If someone would park a decent car outdoors overnight, that's one sign that the neighborhood is safe, in addition to crime and school district data that you can find online. So again, don't let emotions prevail. Also, don't let PERSONAL PREFERENCES dictate what you do too much. Ah, you'll learn some funny quirks about me here. I've spent my life living in places that have a real change in seasons, including a substantial winter - that's mostly in Pennsylvania and also in Alaska, BTW. But distinct seasons are my personal preference. A lot of people don't care about seasons. They just want year-round warmth. So that's why I invest in the Sun Belt states - because I know that it's what OTHERS want. It's not about where I want to live. It's not about me. It's not about my emotions. I also know that even people who dislike cold will still live in a cold place if they have a job. Money is very attractive to people and money trumps climate for some people… so it can be good to invest in growing pockets of, say the Midwest. Personally, I don't prefer to live on HW floor. It's harder, colder, and noisier than carpeting. I prefer plush, padded carpeting… and I've got some reasons for that. But I know that I'm in the minority on that one. We actually did a poll on that on our Get Rich Education Instagram Stories and 83% preferred to live on a hard surface, only 17% on carpet. But see, in my rentals, I use either vinyl plank flooring or hardwood laminate flooring - even in the bedrooms sometimes. Not only is it more durable, but tenants actually seem to prefer it - even if I can't figure out why. Ha! So I keep emotions out of investing, I'm keeping sentimental reasons out of investing, and I'm even keeping my own personal preferences - like plush wall-to-wall carpet out of investing. Stick with facts and demographics and infrastructure and migration trends, and jurisdictions that have strong protections for landlords. So, with all of this in mind, what is the best REI question that you can ask yourself during the course of your entire investing career? It is: Will this property secure an income stream? Yeah, that's the big question. And it is unemotional. When you ask yourself, "Will this property secure an income stream" for yourself, now you're accounting for the quality of tenant that you can attract there. Now you're accounting for the long-term building maintenance question, and now you're accounting on if you're in a good market with enough job and population vibrancy for a long-term tenant base. That's the stuff that matters. "Will this property secure an income stream?" And what makes that question multi-dimensional is that even though the word "property" is in that question, the question is really asking more about what SUPPORTS the property - like the metro economic market and the neighborhood that it's in. See, a modest, 1950-built, 500 sf studio apartment can support an income stream for you if it's in a thriving job market with a future. Well, as far as your investing for the year ahead, we are still in high inflation - though it's come down, and many feel that a recession is ahead. Where do you invest in high inflation & a recession? Well, gold is the classic inflation hedge. But long-term, it's price merely tracks inflation, so though it could be good to have a little, it won't grow your prosperity. Bitcoin has been beleaguered in this brutal crypto winter as they call it. Bitcoin has a few redeeming attributes in my opinion. But it's risky. In fact, during the GFC of 2008, the pseudonymous creator, Satoshi Nakamoto was just publishing his white paper. We really don't have any history of what bitcoin does in a prolonged recession. Here's the thing. If there's a bad recession and you lose your job… what are you really going to need in your life badly? You're going to need more income streams - like a RE income stream. And you're not going to be able to get a loan for a property anymore once you lose your job. If high inflation persists, as any longtime listener knows, RE crushes it - income property with a loan. Yes, by now, you know that you win the Inflation Triple Crown - winning with RE 3 ways at the same time - c'mon - recite them with me - Asset Price Inflation, Debt Debasement, and Cash Flow enhancement. That's the ITC. This is why rental property with a loan is the singular best investment in high inflation and a potential recession. History over hunches. RE has proven itself historically. You can have a hunch. But it's typically best to look at what happens historically over & over & over again. My question for you today is: "Will this property secure an income stream?" That's the key investment question. But over the years, I've learned that you've also had a question for me. It's something like: "Where do I find the properties conducive to securing an income stream?" These are exactly the types of income property at GRE Marketplace. That's a resource that our team & I put together for you where I share the same exact property providers with you… that I buy from myself. Gosh, I wish that this would have existed 20 years ago when I bought my first rental property through a RE agent that didn't know what they were talking about & I wasn't even aware of it. It is free to signup just like thousands of investors already have. There's no subscription fee and just one login gives you access to all of the property providers - and they're typically in the profitable Midwest and South. You don't have to invest in your own local market. The best deals usually are not there. When you open up your investing possibilities to the entire nation & beyond, you're no longer limiting yourself. And see, when you aren't limiting yourself & you buy in a market with a strong rent income into a low purchase price, what have you done? You've made your investment profitable. How are you more incentivized to think when you're profitable - you don't cut corners. Those that aren't making money on their rentals can be tempted to cut corners and for example, not replace faulty electrical outlets and not replace rickety porch stairs. When you invest out-of-market and you're profitable, you're less likely to do those slumlord type of things… and that's how this is congruent with our mission to do some GOOD in the world. It's not complete altruism. You want to be a profiteer like me. So I buy from these providers myself at GRE Marketplace. Prices over there are often discounted because it's a DIRECT model. There's no real estate agent to pay at all. We even video-interview the PMs in the markets there for you… since that PM can manage the property for you on Day 1… if you so choose… making this largely passive for you. So, armed with this best-ever question of "Will this property secure an income stream?" Understand that GRE Marketplace is not like a big box store. It is more like an organic farmer's market where we help match you with experienced property providers. Much like an organic farmer's market, you check back regularly for new offerings. It's a vibrant market. Check back every few weeks. Make this the year when you take action & think big with income property. Hey, I'll see you over there. I've got a video for you over there too to help walk you through GREmarketplace.com Until next week, I'm your host, Keith Weinhold. Don't Quit Your Daydream!

Greed is defined as an "intense and selfish desire for something, especially wealth, power, or food". Should wealth be redistributed so that everyone is equal? "I have never understood why it is "greed" to want to keep the money you have earned but not greed to want to take somebody else's money." -Thomas Sowell When I was a fresh college graduate, I resented the rich. I discuss the catharsis that made me change my mind. Our guest, Doug Casey, believes that college reinforces the wrong wealth mindsets. Today, one often hears that one should "pay their fair share" of tax. What does this really mean? If one obtains wealth with integrity, that wealthy person makes everyone else wealthy. I give the example of Jeff Bezos and Amazon. Learn why Doug believes that Social Security is a redistribution scam. Resources mentioned: Show Notes: www.GetRichEducation.com/429 Learn more about Doug Casey: www.InternationalMan.com His YouTube show is: Doug Casey's Take 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 or (904) 677-6777 To learn more about eQRPs: text "GRE" to 307-213-3475 or: eQRP.com Analyze your RE portfolio at (use code "GRE" for 10% off): MyPropertyStats.com Memphis property that cash flows from Day 1: www.MidSouthHomeBuyers.com I'd be grateful if you search "how to leave an Apple Podcasts review" and do this for the show. Best Financial Education: GetRichEducation.com Get our wealth-building newsletter free—text 'GRE' to 66866 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. Should we "eat the rich"? Are wealthy people greedy? And where does that belief come from? Should everyone be financially equal and taxed equally too. I answer, "Are rich people greedy?" Today, on episode 429 of the GRE Podcast. Welcome to GRE! From Hartford, CT to Weatherford, TX and across 188 nations worldwide. You're back where FF beats DF. I'm Keith Weinhold. This is Get Rich Education. Welcome to the last show of the year. Are rich people greedy? First, what's the definition of greed? Well, the world's best known search engine puts the Oxford dictionary definition at the top. Yeah, I think this is a good definition. It says greed is: An intense and selfish desire for something, especially wealth, power, or food. That's the definition. And then the example of the use of the word in a sentence is "mercenaries who had allowed greed to overtake their principles". You know, the example really hints that greed is a corruption of sound morals or principles in order to get more for oneself. Greed is not good. Now, for some reason, actors and entertainers can make gigantic salaries and high-flying paydays but people don't seem to resent them as much as entrepreneurs or CEOs that make a lot of money. For some reason, the actors and entertainers as seen as lovable and the entrepreneur or CEO is deemed greedy. Recently, soccer star Cristiano Ronaldo became the highest-paid athlete ever at $200M per year. Yankees slugger Aaron Judge $360M over nine years. Those athletes entertain others. I like watching sports. But I don't know that they're advancing society like the innovation that Steve Jobs brought to Apple. Yet it seems like an entrepreneur could get more criticism. Now, there are bad examples too. I specifically remember when Shark Tank's Kevin O'Leary criticized crypto. Then he seemed to do a 180. Later, we learned that Kevin O' Leary accepted $15M to promote the crypto company, FTX, that had horrible financial records and was committing fraud. Was O'Leary greedy? Then you & I need to ask ourselves, if YOU were offered $15M to do crypto commercials, then would you be incentivized to put your $15M on-hold while you did due diligence on a company that even had pro sports arenas named for them. So, when we think about what is & what isn't greed, you also need to think about what YOU would do in these situations & hope that YOU would do the right thing. I do too. Do the right thing before you do things right. And, as you know from being a listener to the show here, I don't take money from just ANY sponsor. They must be aligned with GRE's mission here of financial freedom over debt freedom and prioritizing ideals like cash flow and prudent use of leverage. Most of my income does not come from the sponsorship of this show, not even close, so I can BE selective. But what if that were one's primary income source. You can begin to understand how they would be less selective. Could THAT degrade into greed? Now, when it comes to wealth, poverty & greed, think through the prism of "redistributions of wealth". And, in just a minute here, this is going to lead us to the greatest quote about greed that you've ever heard in your life. How about something like college student loan forgiveness, which, depending on the borrower's status is up to either $10K or $20K. It looked like that was going through and then it got held up in the courts. Well, what about those that didn't go to college because they didn't want debt. But now, if every American effectively gets taxed at a higher rate to pay for student loan forgiveness, then the people that decided not to go to college in order to avoid the debt have to pay for those that did decide to go to college & take on the debt. Now, as you hold that thought, here is what American economist and academic Thomas Sowell said about greed. Sowell said: I have never understood why it is greed to keep the money you have earned but not greed to want to take somebody else's money. Yeah, gosh that's good. And the first time I heard that years ago, I found it remarkably thought-provoking. Therefore, you can at least ask the question then, just posit the question, is it greed for someone to EXPECT student loan forgiveness? Well, International Man Doug Casey is waiting in the wings here. Later on the show, he & I are going to volley this "eat the rich" topic back & forth. BTW, have you ever realized that no one wants to be called rich or poor. If you call someone "rich", they're uncomfortable and they like to spurn what you just said. If you call someone poor, that's seen as a pejorative & quite hurtful. Everyone wants to be known as middle class. No one want to be called rich or poor - but almost anyone would rather have more money than less. The song says, "Mo money, mo problems." But I think most people would accept $10M if you offered it to them right now. Yeah, I'll try living with that problem. Well, when Doug comes on with my shortly, I'll tell you about my cathartic experience with "Are wealthy people greedy" - and how my turning point was about that light bulb moment with regard to "opportunity". Virtually all 8 billion people on this earth have the opportunity to make their life better. But I think it's important to acknowledge that some people have more opportunities than others. The United States is one world nation with more robust opportunities than average. Look, if you were born in the US, or even if you emigrated to the United States, globally, you won the "opportunity lottery". That's because the US only has 4% of the world's population. It's not much different in Canada, which has less than 1% of the world's population. Then, within the US, I won what I call the "parent lottery". No, it is not because I was born wealthy. I was not. Not even CLOSE. It's because I was born to two parents that provided a stable home, were married & committed to each other before they had me, and nurtured the environment where I could thrive & fail & succeed & learn and not have to deal with dysfunction of any kind. I'm really grateful for that. Now, what about real estate investors today? Do you deserve to prosper? Think about how made time to listen this show because you care about your future. Your future is worth caring about… because you're going to spend the rest of your life there. Then you established good credit in order to get a mortgage loan. Then you took on the risk of repaying a mortgage loan. Then you took on property owner risk during COVID and inflation and a possible recession… all to do good and provide housing for others. So… do you deserve to prosper and build wealth for doing all of that for others? For strangers even? Hey, if you did, you overcame many people's almost inherent laziness. Got up early, worked hard at times, took risk, how about confronting your PM? Or confronting your tenant? If you learned how to make the world a better place & helped others, is that greed to prosper? No. Not at all. Our guest, prolific author & thought influencer, International Man Doug Casey, I saw in an article where he quoted his contemporary Rick Rule. Rule said: "Eat the rich. Prepare to starve." That gives you a clue as to where Doug Casey is coming from. That's straight ahead. I'm Keith Weinhold. There will only ever be one GRE Episode 429… and you're listening to it.

Higher returns and lower risk are expected with carefully-chosen real estate. Two hosts put me on the hot seat about rental property. I'm the guest. You get to listen to one of my recent interviews in the media today. Real estate deals are not as attractive today as they were 5-10 years ago. But it's still the best place to invest your dollars today. The property is only the fourth-most important thing in real estate investing. I discuss the three bigger ones. I detail why real estate returns are multiples higher than those from the S&P 500. Learn why a total return of anything less than 20% in real estate is actually disappointing. Housing inventory is up year-over-year, down over the past five years. From 1 (worst quality) to 10 (best quality), a 4 yields the best cash flow in long-term rentals. I describe why. Resources mentioned: Show Notes: www.GetRichEducation.com/428 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 or (904) 677-6777 To learn more about eQRPs: text "GRE" to 307-213-3475 or: eQRP.com Analyze your RE portfolio at (use code "GRE" for 10% off): MyPropertyStats.com Memphis property that cash flows from Day 1: www.MidSouthHomeBuyers.com I'd be grateful if you search "how to leave an Apple Podcasts review" and do this for the show. Best Financial Education: GetRichEducation.com Get our wealth-building newsletter free—text 'GRE' to 66866 Our YouTube Channel: www.youtube.com/c/GetRichEducation Top Properties & Providers: GREmarketplace.com Follow us on Instagram: @getricheducation Keith's personal Instagram: @keithweinhold

Metaverse real estate is virtual. Can you make money with it? First, I discuss updates to 3-D printed homes and Boxabl homes. Next, our guest, Steve Hoffman, describes that metaverse is a virtual space where you can interact with virtual objects. There is no single metaverse. There are apps in the metaverse, like Second Life and Decentraland. Learn what makes a piece of metaverse real estate valuable or worthless. You often buy NFTs on the blockchain. With Upland, you can buy NFTs of real properties, like the Statue Of Liberty or Dodger Stadium. Our guest feels that metaverse real estate investing is highly speculative. It is risky and often akin to gambling. Metaverse economies are subject to monetary inflation. Does metaverse RE have any value? Steve runs the global innovation hub, Founders Space. Resources mentioned: Show Notes: www.GetRichEducation.com/427 Learn more about Steve Hoffman: FoundersSpace.com A current popular metaverse app: https://decentraland.org 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 or (904) 677-6777 To learn more about eQRPs: text "GRE" to 307-213-3475 or: eQRP.com Analyze your RE portfolio at (use code "GRE" for 10% off): MyPropertyStats.com Memphis property that cash flows from Day 1: www.MidSouthHomeBuyers.com I'd be grateful if you search "how to leave an Apple Podcasts review" and do this for the show. Best Financial Education: GetRichEducation.com Get our wealth-building newsletter free—text 'GRE' to 66866 Our YouTube Channel: www.youtube.com/c/GetRichEducation Top Properties & Providers: GREmarketplace.com Follow us on Instagram: @getricheducation Keith's personal Instagram: @keithweinhold

At times, 3-D printed homes, modular, and shipping container homes are not the answer for both single-family home and apartment construction. The promise of new truss and framing technology can substantially speed up conventional construction. This can solve many problems at once: housing shortage, labor shortage, and stubbornly persistent materials supply shortages. FrameTec is a technology that builds the roof truss, floor truss, and walls all in a forthcoming Arizona factory. Guests Damion Lupo and David Morris tell us about it today. The FrameTec process uses solar technology and reduces material waste. Learn more at FrameTec.com. It's possible that there is still room for accredited investors. This is Made In America technology. Resources mentioned: Show Notes: www.GetRichEducation.com/426 Learn more about FrameTec: www.FrameTec.com Join me live on Thursday's Florida properties webinar: www.GREwebinars.com 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 or (904) 677-6777 To learn more about eQRPs: text "GRE" to 307-213-3475 or: eQRP.com Analyze your RE portfolio at (use code "GRE" for 10% off): MyPropertyStats.com Memphis property that cash flows from Day 1: www.MidSouthHomeBuyers.com I'd be grateful if you search "how to leave an Apple Podcasts review" and do this for the show. Best Financial Education: GetRichEducation.com Get our wealth-building newsletter free—text 'GRE' to 66866 Our YouTube Channel: www.youtube.com/c/GetRichEducation Top Properties & Providers: GREmarketplace.com Follow us on Instagram: @getricheducation Keith's personal Instagram: @keithweinhold

Get an update on how the work-from-home trend is good for residential RE and bad for office RE. Office space values are down 17.5% from their recent peak. Americans must now earn at least $107,281 to afford the monthly mortgage payment on a median-priced home. The NAR expects 10% home price appreciation this year, 1% in 2023, and 5% in 2024. The tiny home movement is both architectural and structural. It's defined as a home of 400 sf or less. Tiny homes are hard to find. In the US today, just 0.3% of listed homes are tiny homes. You can own a new-build tropical tiny home near the beach in Nicaragua for under $200K. Our own COO, Aundrea, bought one. She tells us about it. It's on Nicaragua's west coast. It's not just an isolated tiny home experience. There's a community with a: restaurant, bar, bird watching area, butterfly garden, viewing tower, yoga area, and communal garden. Often, loans aren't available for foreigners. Here, you can get 50% or 80% loans. You can live in this tropical tiny home year-round, or keep it as a short-term rental. The provider can manage your rental. Resources mentioned: Show Notes: www.GetRichEducation.com/425 Get started with tropical tiny homes at: GREmarketplace.com/tinyhomes 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 or (904) 677-6777 To learn more about eQRPs: text "GRE" to 307-213-3475 or: eQRP.com Analyze your RE portfolio at (use code "GRE" for 10% off): MyPropertyStats.com Memphis property that cash flows from Day 1: www.MidSouthHomeBuyers.com I'd be grateful if you search "how to leave an Apple Podcasts review" and do this for the show. Best Financial Education: GetRichEducation.com Get our wealth-building newsletter free—text 'GRE' to 66866 Our YouTube Channel: www.youtube.com/c/GetRichEducation Top Properties & Providers: GREmarketplace.com Follow us on Instagram: @getricheducation Keith's personal Instagram: @keithweinhold

The ideal inflation rate is zero just like the ideal theft rate is zero. When lower inflation (7.7%) was recently reported, mortgage rates experienced a record daily drop. I detail the implosion of crypto exchange, FTX. It was a Ponzi scheme. 2022 is the 2008 of crypto. Garrett Sutton and his son, Ted Sutton, announce the father-son succession plan. They are attorneys that help protect your real estate from lawsuits at Corporate Direct. Ted's experience at a Chilean copper mine helped make him pivot from a mining engineering track and into law. RE investors have three main lines of defense: 1) Ethical operations. 2) Insurance. 3) LLC. Learn how to properly form and maintain an LLC. Don't try to win a lawsuit. Avoid it in the first place. Learn why landlords get sued today. Corporate Direct provides free 15-minute consultations. Resources mentioned: Show Notes: www.GetRichEducation.com/424 Corporate Direct protects your biz & real estate from lawsuits: Corporate Direct Garrett Sutton's newest book: Veil Not Fail 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 or (904) 677-6777 To learn more about eQRPs: text "GRE" to 307-213-3475 or: eQRP.com Analyze your RE portfolio at (use code "GRE" for 10% off): MyPropertyStats.com Memphis property that cash flows from Day 1: www.MidSouthHomeBuyers.com I'd be grateful if you search "how to leave an Apple Podcasts review" and do this for the show. Best Financial Education: GetRichEducation.com Get our wealth-building newsletter free—text 'GRE' to 66866 Our YouTube Channel: www.youtube.com/c/GetRichEducation Top Properties & Providers: GREmarketplace.com Follow us on Instagram: @getricheducation Keith's personal Instagram: @keithweinhold

A housing crash is upon us. But it may not be the kind of crash that you think. I explain what this sales crash means to the future of the housing market. Caeli Ridge, President of Ridge Lending Group joins us. She gives an exact prediction about where and when mortgage interest rates will peak. 37% of homeowners have no mortgage at all. Among those with a mortgage, 85% have an interest rate under 5% per Redfin. They don't want to sell and give up their rate, constraining supply. It's a nationwide lock-in effect. A housing PRICE crash is not expected. Existing homeowners can afford their mortgages and have record equity. This is reflected in the low delinquency rate. The average age of first-time home buyers hit a record 36. Caeli Ridge tells you how to get a lower mortgage interest rate with different loan types. Investors keep their loan an average of 5-6 years. Ridge offers mortgage loans specifically for investors: plain fixed rates, non-recourse, DSCR, asset depletion, bridge loans, commercial loans, cross-collateralization of residential properties, and the All-In-One Loan which operates like a first lien HELOC. See how much interest you save with the All-In-One Loan interactive simulator here: https://ridgelendinggroup.com/aio-loans/ Caeli sees lots of appraisals. They've all been coming in "on-value". When it comes to higher mortgage rates, get used to it. The long-term average is 7.7%. Ridge Lending is where I get loans for my own properties. You can use them too. Start at RidgeLendingGroup.com or (855) 747-4343. Resources mentioned: Show Notes: www.GetRichEducation.com/423 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 or (904) 677-6777 To learn more about eQRPs: text "GRE" to 307-213-3475 or: eQRP.com Available Central Florida new-build income properties: www.b2rdirect.com Analyze your RE portfolio at (use code "GRE" for 10% off): MyPropertyStats.com Memphis property that cash flows from Day 1: www.MidSouthHomeBuyers.com I'd be grateful if you search "how to leave an Apple Podcasts review" and do that for the show. Best Financial Education: GetRichEducation.com Get our wealth-building newsletter free—text 'GRE' to 66866 Our YouTube Channel: www.youtube.com/c/GetRichEducation Top Properties & Providers: GREmarketplace.com Follow us on Instagram: @getricheducation Keith's personal Instagram: @keithweinhold