Get Rich Education

#100: How to measure your wealth, a fun retrospective of the first 100 episodes, and a visit from GRE’s Business Developer John Collins. Want more wealth? Visit www.GetRichEducation.com and 1) Subscribe to our free newsletter, and 2) Receive Turnkey RE webinar opportunities. Listen to this week’s show and learn: 03:25  Let’s measure your wealth. Right now. Here’s how. 06:12  Favorite GRE mantras and catchphrases. 09:16  How to increase your wealth. Determine your “PPY” and convert equity to cash flow. 13:02  Traffic and commuting. Appreciate what you’ve already got while you expand. 17:58  A memorable look back at some noteworthy GRE episodes. 28:31  GRE’s John Collins appears. 33:07  Real estate’s advantages and five profit centers. 34:16  Awareness of outdated investment paradigms.   35:05  Nearly every dollar you spend is related to real estate. 37:40  If you wait until you’re old to be gratified, did you win? 38:50  Sabbaticals. 43:30  Exposure to fresh ideas multiplies you in “unthought of” ways.   Resources Mentioned: CorporateDirect.com RidgeLendingGroup.com NoradaRealEstate.com GetRichEducation.com

#99: Income property investors’ most commonly asked mortgage questions are answered by Ridge Lending Group President and CEO Caeli Ridge. There’s a lot of good news - the lending environment is loosening. www.RidgeLendingGroup.com Want more wealth? Visit www.GetRichEducation.com and 1) Subscribe to our free newsletter, and 2) Receive Turnkey RE webinar opportunities. Listen to this week’s show and learn: 02:39  This episode is about conventional financing of income property. 02:58  Next week’s milestone Episode 100 will be special. 04:57  Caeli Ridge interview begins. 07:54  Seasoning of funds. Gift funds. 10:27  Reserve requirements. 60% of your retirement funds qualify for reserves. 13:37  LLCs. Married couples. 15:10  How wife & husband can get 20 conventional loans. 17:17  Cash-out refinances: two types - standard and delayed. 26:05  DTI - Debt-To-Income Ratio. 50% maximum. 28:00  How your DTI changes when you add a rental property. 31:23  Credit score. 33:39  How the mortgage lending industry is loosening, not tightening. 34:25  It’s now up to 80% LTV for your first ten financed single-family income properties.   Resources Mentioned: RidgeLendingGroup.com CorporateDirect.com NoradaRealEstate.com GetRichEducation.com  

#98: Turn your $100K into $300K over five years with five turnkey income properties. See exactly how. Also, Cap Rate, Cash-On-Cash Return, and Equity Management are explored. Want more wealth? Visit GetRichEducation.com and 1) Subscribe to our free newsletter, and 2) Receive Turnkey RE webinar opportunities. Listen to this week’s show and learn: 01:03  Special technique to help you get more rent for your property. 04:37  How to add value to a multifamily property via NOI and Cap Rate. 08:58  Cap Rates versus Cash-On-Cash Return. 11:51  Neighborhood character affecting valuation. 13:50  How to create wealth with five turnkey properties over five years. 21:24  Amazon lockers are changing apartment buildings and consumer behaviors. 25:02  Keith’s HELOC application was denied! Details. 27:02  Earthquakes. The return from home equity is zero. 31:29  The borrower is in control of a loan, not the lender. 32:22  Why “Live Below Your Means” Is Bad Advice. Resources Mentioned: CorporateDirect.com NoradaRealEstate.com RidgeLendingGroup.com GetRichEducation.com  

#97: Generate $36,000 of monthly income and $10,000 of monthly cash flow per single-family residence used as an Assisted Living Home (ALH). Demographics tell the story. Our aging population means there will be more need for senior housing. Gene Guarino of the Residential Assisted Living Academy tells us why and how to own and operate ALHs. Want more wealth? Visit GetRichEducation.com and 1) Subscribe to our free newsletter, and 2) Receive Turnkey RE webinar opportunities. Listen to this week’s show and learn: 01:05  Get $5,000 - $15,000 cash flow per month from one single-family home. 01:37  Upcoming guests on future shows include T. Harv Eker and Tom Wheelwright. 02:50  40 million senior citizens today will balloon to 89 million by 2050. 05:15  Single-family homes - not giant institutional complexes - are a great niche for the individual investor / businessperson. 08:09  Don’t be involved in the day-to-day operation of the ALH. 09:13  Ideal ALH location. Home size 300-500 sf per person. 13:20  No commercial kitchen. Grab bars, wide doors. 14:18  Profit & Loss Statement. $36,000 / monthly avg. income for ten private rooms in one ALH. 17:51  Owning vs. Leasing the real estate to operate your ALH. 19:43  Zoning, Licensing, Liability Insurance. 27:13  How do you find an ALH? 31:19  State-administered trainings vs. business-oriented trainings. 32:39  Financing. 37:15  Occupying your ALH with residents. 39:27  “Mom & Pop” ALHs. 42:04  Caring for others.   43:35  What does an ALH manager do? 45:00  Gene shows others how to provide ALHs with a live 3-day Training, and at RALAcademy.com   Resources Mentioned: RALAcademy.com CorporateDirect.com NoradaRealEstate.com RidgeLendingGroup.com GetRichEducation.com

#96: Keith’s story about starting in real estate, how to think abundantly, and leveraging the efforts of others to create wealth for yourself. Keith is interviewed by Kathy Fettke. Want more wealth? Visit GetRichEducation.com and 1) Subscribe to our free newsletter, and 2) Receive Turnkey RE webinar opportunities. Listen to this week’s show and learn: 03:20  Before you expand, appreciate what you already have. 05:44  Avoid the crowd constantly focused on “spending less.” They live half-dead. 08:41  An inspirational Dale Partridge quote to live by. 12:19  Starting big. Most people move & follow the money. Instead, make money follow you this way. 14:03  Buying a four-plex: 3.5% down, 12 months owner-occupy, minimum 580 FICO score. 15:51  Utilizing other people’s money. 18:26  Compound interest is lame and slow. Here’s why. 22:28  Don’t be debt free. Be financially free. 23:56  In RE investing, the property is only the fourth most important thing. 24:50  Here’s how Keith expanded his real estate portfolio with other people’s money. 27:30  Investment RE markets in Dallas-Fort Worth, and Anchorage, AK. 29:43  Value your time. 33:57  A bar of iron costs $5. What will you turn it into?   Resources Mentioned: GetRichEducation.com CorporateDirect.com NoradaRealEstate.com MidSouthHomeBuyers.com

#95: The United States real estate market is compared with those in Australia and Japan. Want more wealth? Visit GetRichEducation.com and 1) Subscribe to our free newsletter, and 2) Receive Turnkey RE webinar opportunities. Listen to this week’s show and learn: 02:18  Poor stands for Passing Over Opportunity Repeatedly - P.O.O.R. 04:00  A re-cap of Keith’s story. 07:10  Reasons why the U.S. real estate market is special. 09:14  Largest economies by GDP. 13:57  Australian real estate market overview with Marcus Whelan. 21:18  Japanese real estate market overview with Marcus Whelan. 27:14  Why the U.S. is special for income property, and business opportunity. 30:46  English-speaking is a major advantage that’s taken for granted. 32:45  Time vs. Money.   Resources Mentioned: GetRichEducation.com World's largest economies by GDP CorporateDirect.com NoradaRealEstate.com MidSouthHomeBuyers.com

#94: Self-Directed IRAs and Checkbook IRAs potentially enable you to invest your IRA funds into income real estate, coffee farms, a vacation home, gold, a business, and more. But there are rules to follow. Today’s guest made an educational video to help you learn about this: www.premierlawgroup.net/gre Want more wealth? Visit GetRichEducation.com and 1) Subscribe to our free newsletter, and 2) Receive Turnkey RE webinar opportunities. Listen to this week’s show and learn: 01:52  Your Individual Retirement Account (IRA) doesn’t have to be invested in mutual funds. 03:47  Even if you don’t own an IRA, you want to know this in case you aggregate other investors’ money. 05:20  Right after college, Keith admits he actually used to think it was smart to invest in 401(k)s and IRAs. Once enlightened, he tore it down. 07:23  Keith tells you who his Self-Directed IRA custodian is. 12:52  Mauricio Rauld Interview. 14:27  What is a Self-Directed IRA (SDIRA)? 16:17  With a SDIRA, what can you invest in? What’s prohibited? 20:08  Checkbook IRAs. 21:40  What a custodian does. What your limitations are. 24:28  Liquidity - how fast can you use your IRA funds? 25:42  Planning. It’s often best to fund your SDIRA with one larger lump sum. 27:11  Real estate leverage and a SDIRA. 29:53  LLC protection with Checkbook IRAs. 31:05  One option is to just dismantle your IRA. 32:40  Traditional vs. Roth IRAs. 35:00  How you actually set up a SDIRA / Checkbook IRA.   Resources Mentioned: www.premierlawgroup.net/gre CorporateDirect.com NoradaRealEstate.com MidSouthHomeBuyers.com GetRichEducation.com

#93: U.S. Single-Family Homes rented as income property could be the best investment class on earth today. Here’s why, and here’s how to be strategic about it. Want more wealth? Visit GetRichEducation.com and 1) Subscribe to our free newsletter, and 2) Receive Turnkey RE webinar opportunities. Listen to this week’s show and learn: 02:15  Most people mistakenly think “real estate investing” means “house flipping.” 04:06  Keith is now a Contributing Author at Kiyosaki’s Rich Dad Advisors blog. 06:35  The S&P 500 Index recently closed at an all-time high. Who cares? 08:50  Size of the U.S. single-family rental market. 10:15  Demographic demand for SFHs. 12:35  SFHs: low cost, time value of money, liquidity, divisibility, school district. 16:00  Buy in 3-5 geographic markets. 18:42  Good turnkey providers avoid property in “war zones.” 23:04  Recession resistance. 23:42  Condominiums. 24:53  No common walls mean problems are confined. 25:57  Utilities, tenant quality, tenant psychology. 27:46  Autonomous cars and technology. 31:20  Rent-To-Value (RV) Ratios. 32:01  Single-Family Income Property “poetry.”   Resources Mentioned: Keith’s first Rich Dad Advisors blog article CorporateDirect.com NoradaRealEstate.com MidSouthHomeBuyers.com LittleRockTurnkey.com GetRichEducation.com Want a free GRE logo decal? Just write a podcast review. Here’s how at: iTunes, Stitcher, and Android. Send: 1) A screenshot of your review. 2) Your mailing address to: Info@GetRichEducation.com for your decal.

#92: Garrett Gunderson is our guest today. A polished and articulate speaker, he leads Wealth Factory to help you build wealth with limited risk. He helps you find spendable cash that you didn’t even know you had. He tells you why 401(k) plans are awful. Want more wealth? Visit GetRichEducation.com and 1) Subscribe to our free newsletter, and 2) Receive Turnkey RE webinar opportunities. Listen to this week’s show and learn: 02:33  Garrett was kicked off CNBC for telling the truth about stocks and diversification. 05:12  Where Garrett’s “abundance mindset” began. His upbringing in coal-mining Price, Utah. 08:30  A millionaire is not financially wealthy. Think bigger. 11:04  “Financial planners” and “advisors” are just commission-based salespeople. 12:45  Myths to avoid. 15:15  Long-term, stocks return zero or post negative returns. 19:42  Cash flow matters more than net worth. 21:02  Your four types of expenses. 27:03  Discover your “Investor DNA.” 30:33  “Budget” should be a swear word. 33:00  How Get Rich Education differs from Dave Ramsey. 34:59  401(k) plans are terrible.   46:10  Find Garrett at WealthFactory.com. Resources Mentioned: WealthFactory.com CorporateDirect.com NoradaRealEstate.com MidSouthHomeBuyers.com GetRichEducation.com Want a free GRE logo decal? Just write a podcast review. Here’s how at: iTunes, Stitcher, and Android. Send: 1) A screenshot of your review. 2) Your mailing address to: Info@GetRichEducation.com for your decal.

#91: While a rich man digs for gold, a poor man is concerned with the cost of a shovel. Learn how to think like a wealthy person, and make it actionable. Learn what Keith did during his typical week. Doing this yourself will build your wealth. Want more wealth? Visit GetRichEducation.com and 1) Subscribe to our free newsletter, and 2) Receive Turnkey RE webinar opportunities. Listen to this week’s show and learn: 02:50  Most financial advice is flawed and limiting. 04:14  Are you living your dreams or living your fears? 06:50  Delayed gratification. 09:00  401(k)-type contributions crush your current lifestyle. So what’s the answer? 12:38  Why would anyone contribute to a 401(k)? 15:13  Here’s exactly what Keith did this week himself that can build your wealth. 18:17  Actionable step on how to increase your property’s cash flow. (Loss runs.) 24:54  Keith applied for a 100% loan-to-value HELOC on his own home. He wants every last penny of equity pulled out of his home. Here’s why. 30:42  Refusing a REIT advertisement. 31:57  A smart GRE listener has these two great questions for Keith: reserves, cutting expenses, living below your means. 38:35  A new way to think about real estate problems.   40:04  Looking for turnkey income property? Do this.   Resources Mentioned: CorporateDirect.com NoradaRealEstate.com MidSouthHomeBuyers.com GetRichEducation.com Want a free GRE logo decal? Just write a podcast review. Here’s how at: iTunes, Stitcher, and Android. Send: 1) A screenshot of your review. 2) Your mailing address to: Info@GetRichEducation.com for your decal.