Get Rich Education

#66: Learn some broad approaches to getting more money for a down payment so that you can buy income property sooner. Keith also looks at methods of acquiring passive income other than real estate investing. 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: 02:14 Real estate can build massive passive income - this is buy-and-hold real estate, not flipping or wholesaling. 03:36 Why you need to buy time, not sell time. 07:34 Focus on increasing income, not cutting expenses. 10:00 How to approach the classic "time vs. money" conundrum. 12:04 Here's how much the average American investor lost last year. 15:28 Keith is adamant that we still have inflation today. 16:28 Here's how wealthy people choose their friends. 24:51 The next episode features an Atlanta Market Profile. 26:28 "How To Win Friends and Influence People" 32:12 Your network determines your net worth. Mastermind groups. 33:09 This is what broke people (broke mindsets) say. 34:03 Want to accumulate liquidity faster? Don't get a part-time job. Do this instead. 35:58 Passive income from real estate versus: patent royalties, trademarks, original works of art, stock dividends, etc. 37:40 When you were a kid, your parents never told you, "Don't be broke." Resources: "How To Win Friends and Influence People" - The classic Dale Carnegie self-help book Business Insider article quoted: BusinessInsider.com/rich-people-choose-friends-2014-12 VisualCapitalist.com MidSouthHomeBuyers.com or call (901) 217-4663 for Top-Notch Turnkey Rental Properties. NoradaRealEstate.com or call (800) 611-3060. Your Premier Source for Nationwide Turnkey Cash-Flow Investment Property. GetRichEducation.com - that's where to subscribe to our free newsletter, receive turnkey real estate webinar opportunities, and see all Events. Download the GRE Android App at Google Play to keep the GRE icon right on your phone's home screen! We would be so grateful if you wrote a review! Here's how to write one at: iTunes, Stitcher, and Android. To get a free GRE logo decal for your review, send: 1) A screenshot of your review. 2) Your mailing address to: Info@GetRichEducation.com

#65: There are numerous pros and cons of both Single Family Home Investing vs. Multifamily Apartment Investing. What's better for you? At the end of the show Keith selects which one he believes is better for 2016 and 2017. 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: 01:18 Single family homes attract better tenants than apartments. Here's a new way to think about this. 04:16 The best investment that Keith plans to make in 2016 is next month's Investor Summit At Sea. 09:56 Property cost. 10:19 School district. 10:53 Interest rates. 11:15 Here in 2016, it's now easier to get loans for more than 10 single family homes. 11:55 Property Maintenance, Utilities, Property Management. 14:22 Cash Flow, Location. 18:33 Tenant quality, tenant psychology, tenant turnover. 22:02 Appreciation rates in both property types. 23:00 Management fees, asset liquidity, your level of control. 26:56 Exit Strategy - your options for selling both property types. 30:09 Keith selects which property type he thinks is better in 2016 and 2017. Resources: GetRichEducation.com/Events - Learn about The Real Estate Guys Investor Summit At Sea. MidSouthHomeBuyers.com or call (901) 217-4663 for Top-Notch Turnkey Rental Properties. NoradaRealEstate.com or call (800) 611-3060. Your Premier Source for Nationwide Turnkey Cash-Flow Investment Property. GetRichEducation.com - that's where to subscribe to our free newsletter, receive turnkey real estate webinar opportunities, and see all Events. Download the GRE Android App at Google Play to keep the GRE icon right on your phone's home screen! We would be so grateful if you wrote a review! Here's how to write one at: iTunes, Stitcher, and Android. To get a free GRE logo decal for your review, send: 1) A screenshot of your review. 2) Your mailing address to: Info@GetRichEducation.com

#64: How do you build and maintain your reputation? How do you get your great reputation to advance your career? How do you repair a damaged reputation? Both in-person and online, your personal brand is more important than ever. 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: 02:45 Why you NEED a personal brand. It's the same as your reputation. 04:30 How you develop your brand and reputation. 06:08 What do others think about you now? How would they describe you? 09:40 Can you really change "who you are" or who you were "born to be?" 11:32 How to stand out in a meeting - before you even walk in the door! 15:21 The Wingman Strategy will make you look like a star. 19;53 Your personal brand works for you like passive income. 21:25 Your virtual reputation - Google, LinkedIn, Twitter, Facebook, Instagram. 22:55 Improve your brand by creating content. 25:22 Your brand is more important today because you no longer work for the same company for 30 years. 27:28 Having zero online profile can be nearly as problematic for you as having a negative profile. 29:52 Trusted advisors help build your brand. Resources: DorieClark.com and DorieClark.com/Join MidSouthHomeBuyers.com or call (901) 217-4663 for Top-Notch Turnkey Rental Properties. NoradaRealEstate.com or call (800) 611-3060. Your Premier Source for Nationwide Turnkey Cash-Flow Investment Property. GetRichEducation.com - that's where to subscribe to our free newsletter, receive turnkey real estate webinar opportunities, and see all Events. Download the GRE Android App at Google Play to keep the GRE icon right on your phone's home screen! We would be so grateful if you wrote a review! Here's how to write one at: iTunes, Stitcher, and Android. To get a free GRE logo decal for your review, send: 1) A screenshot of your review. 2) Your mailing address to: Info@GetRichEducation.com

#63: Hear Keith's latest media appearance. He is interviewed about how he got started in real estate, his investing strategy, and where Keith invests geographically. 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: 01:46 Keith brings you the show from near Philadelphia, PA today. 02:04 Be grateful this holiday season. 07:03 Keith Weinhold Interview begins. 08:22 Keith's first-ever real estate purchase was an Anchorage, Alaska four-plex building. 09:57 To change yourself, change who you spend time with. 11:28 Don't follow money. Make money follow you and live where you want. 12:37 How to begin exactly how Keith did. 19:40 Using equity from one four-plex to buy a second four-plex. 22:13 Real estate markets dependent upon oil. 24:00 Foreign turnkey real estate with cash flow. 33:28 Open up your time so that you can be a great investor. 36:42 Opportunity cost. 37:25 The real tragedy of self-management is that you've lost your time. 38:48 Be financially free, not debt free. Resources: MidSouthHomeBuyers.com or call (901) 217-4663 for Top-Notch Turnkey Rental Properties. NoradaRealEstate.com or call (800) 611-3060. Your Premier Source for Nationwide Turnkey Cash-Flow Investment Property. GetRichEducation.com - that's where to subscribe to our free newsletter, receive turnkey real estate webinar opportunities, and see all Events. Download the GRE Android App at Google Play to keep the GRE icon right on your phone's home screen! We would be so grateful if you wrote a review! Here's how to write one at: iTunes, Stitcher, and Android. To get a free GRE logo decal for your review, send: 1) A screenshot of your review. 2) Your mailing address to: Info@GetRichEducation.com

#62: Rich Dad Advisor and Provision Wealth Founder Tom Wheelwright updates you about recent tax changes; provides tips for avoiding and dealing with an audit; and how to make your travel, meals and entertainment tax-deductible. Keith brings you the show from Juneau, Alaska today. 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: 02:35 Actually, the U.S. has the best tax compliance record in the world. 06:02 Now you can lose your passport for tax non-compliance! 09:25 During audits, the IRS is becoming more difficult & invasive. 14:00 Tips to help avoid an audit. It includes: call the deduction "continuing education" rather than a "seminar." 17:37 Why you should never talk to the IRS. 20:45 Tax actions you can take now: 1) Pay your children, 2) Home office, 3) Automobile use. 4) Accelerate income. 27:30 Making your travel, meal, and entertainment expenses tax-deductible. 34:18 "Low-hanging fruit" ways to save on your taxes. 35:32 Tom believes in focusing on an investment niche. "A niche makes you rich." Resources: ProvisionWealth.com - Tom Wheelwright's Tax and Wealth Strategy firm. TaxFreeWealthBook.com - Tom Wheelwright's popular book, Tax-Free Wealth. MidSouthHomeBuyers.com or call (901) 217-4663 for Top-Notch Turnkey Rental Properties. NoradaRealEstate.com or call (800) 611-3060. Your Premier Source for Nationwide Turnkey Cash-Flow Investment Property. GetRichEducation.com - that's where to subscribe to our free newsletter, receive turnkey real estate webinar opportunities, and see all Events. Download the GRE Android App at Google Play to keep the GRE icon right on your phone's home screen! We would be so grateful if you wrote a review! Here's how to write one at: iTunes, Stitcher, and Android. To get a free GRE logo decal for your review, send: 1) A screenshot of your review. 2) Your mailing address to: Info@GetRichEducation.com

#61: Learn why your long-term rate of return from stocks, as measured by the S&P 500 Index, is 0%. Learn how to act to overcome this "zero-return investing." 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: 01:10 Keith is back in the United States for today's show. 02:04 The S&P 500 historically returns 10% per year. Your return is 0%. 02:51 When the Federal Reserve raises interest rates, how that impacts you and your tenants. 04:50 How inflation, emotion, and fees make your stock market return 0%. 11:25 This regards the very long-term. If you plan to live for the very long-term, then this approach makes sense. 13:24 Knowledge and rationale in stock investing vs. real estate investing. 19:27 Real estate still hasn't returned to its 2006 national price peak. 20:30 Powerful education: how 25%+ returns are common with leveraged, cash-flowing income real estate in investor-advantaged geographic markets. 25:19 Harvesting & re-deploying accumulated equity results in better RE returns in an appreciating environment. 25:56 Keith's take: Return ON Equity (ROE) vs. Return FROM Equity (RFE). 28:02 "Market Agnostic." You'll often want to invest in RE outside your home market. 30:15 People invest in "out of market" stocks, but curiously they doubt investing in "out of market" real estate. That's nonsense. Resources: How human emotion makes you lag the stock market: Longer article from Wall Street Journal. Shorter article from BP Wealth Advisors. MidSouthHomeBuyers.com or call (901) 217-4663 for Top-Notch Turnkey Rental Properties. NoradaRealEstate.com or call (800) 611-3060. Your Premier Source for Nationwide Turnkey Cash-Flow Investment Property. GetRichEducation.com - that's where to subscribe to our free newsletter, receive turnkey real estate webinar opportunities, and see all Events. Download the GRE Android App at Google Play to keep the GRE icon right on your phone's home screen! We would be so grateful if you wrote a review! Here's how to write one at: iTunes, Stitcher, and Android. To get a free GRE logo decal for your review, send: 1) A screenshot of your review. 2) Your mailing address to: Info@GetRichEducation.com

#60: Learn how to invest in cash-flowing Panama coffee farm parcels and diversify in an asset outside the US. It's completely uncorrelated with residential real estate. Learn more at GetRichEducation.com/Coffee 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: 01:00 Keith comes to you from Boquete, Panama today, where he completed a 3-day group tour for coffee farm investors. 02:00 Why coffee? 03:54 Why Panama? 04:55 The business model - it's like "turnkey" coffee farm investing. 07:11 What it's like to walk the coffee farm plantations. 09:22 The investor crop harvest is developing ahead of schedule. 10:12 David Sewell interview begins. 14:14 Three pillars of sustainability: 1) Economic. 2) Environmental. 3) Social. 17:16 Four complete farms have now been sold out to dozens of investors. 17:34 The professionally-trained team includes a General Manager whom is an Engineer and Farm Foreman whom is an Agronomist. This team understands management of people and soil. 18:22 An on-site coffee processing mill is being added. This provides coffee traceability. 20:28 A coffee laboratory exists nearby for coffee grading and scoring. 22:12 Coffee is scored on attributes like: taste, aroma, acidity, and body. 27:44 International Coffee Farms' longer-term goals and future. 29:28 How this investment protects you from creditors and predators. 30:58 Deeded parcel ownership for investors. 33:40 Your price per parcel and your projected ROI. 35:08 The next investor group tour. 36:16 You can invest with either cash or IRA funds. 39:09 The $500 IRA setup fee is waived for GRE listeners that register their interest (no obligation to act) at GetRichEducation.com/Coffee by Feb. 29, 2016. 40:18 This is a long-term investment. Your first investor cash flow check is typically received 12-15 months after your parcel purchase. 42:36 As an investor, ask "How am I doing good in the world?" 43:15 After the coffee tour, Keith & a GRE listener climbed Panama's highest mountain together. Resources: GetRichEducation.com/Coffee - Register here to receive your free investor report, and for a $500 discount on IRA setup through Feb. 29, 2016. (No obligation to act). scaa.org - Specialty Coffee Association of America. This is coffee's international quality scoring system. MidSouthHomeBuyers.com or call (901) 217-4663 for Top-Notch Turnkey Rental Properties. NoradaRealEstate.com or call (800) 611-3060. Your Premier Source for Nationwide Turnkey Cash-Flow Investment Property. GetRichEducation.com - that's where to subscribe to our free newsletter, receive turnkey real estate webinar opportunities, and see all Events. Download the GRE Android App at Google Play to keep the GRE icon right on your phone's home screen! We would be so grateful if you wrote a review! Here's how to write one at: iTunes, Stitcher, and Android. To get a free GRE logo decal for your review, send: 1) A screenshot of your review. 2) Your mailing address to: Info@GetRichEducation.com

#59: Learn why buying fully renovated, already rehabbed, already tenanted, cash-flowing property in Memphis, Tennessee can put you on the path to financial freedom with Terry Kerr of MidSouthHomeBuyers.com 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 You want more money with less of your time invested. Today's episode makes this actionable. 03:58 "Instead of wondering when your next vacation is, maybe you should set up a life you don't need to escape from." 04:22 The element of altruism in turnkey real estate investing. 06:10 An advantage of single-family home investing that you've likely never thought of. 07:50 Keith joins you from Managua, Nicaragua today. 11:24 Terry Kerr interview begins. He answers "Why Memphis?" 14:34 These $60K-$70K cash-flowing homes are in decent Memphis neighborhoods. 16:07 Advantages of MidSouth having both their renovation and management company under one roof. 18:04 MidSouth now has their own warehouse. This reduces maintenance costs. 21:00 Renovating to "retail standards" vs. "rental standards." 24:06 Memphis submarkets and neighborhoods. 28:12 Single family homes often work best for Memphis cash flow. 29:17 In Memphis, tenants supply their own appliances! 31:01 In Memphis, one utility company supplies: water, wastewater, gas, and electricity. 32:30 Tenant qualification. 34:08 Occupancy is currently 98%+ in an 1,155-unit management portfolio. 35:35 Warranties and guarantees to investors. 36:30 The vital importance of property management. 38:52 Why the distribution business sector is more durable in supporting cash-flowing real estate income streams. 40:02 You'll spend about $15K-$19K as a down payment & closing costs to invest in these cash-flowing homes. Resources: MidSouthHomeBuyers.com or call (901) 217-4663 for Top-Notch Turnkey Rental Properties. NoradaRealEstate.com or call (800) 611-3060. Your Premier Source for Nationwide Turnkey Cash-Flow Investment Property. GetRichEducation.com - that's where to subscribe to our free newsletter, receive turnkey real estate webinar opportunities, and see all Events. Download the GRE Android App at Google Play to keep the GRE icon right on your phone's home screen! We would be so grateful if you wrote a review! Here's how to write one at: iTunes, Stitcher, and Android. To get a free GRE logo decal for your review, send: 1) A screenshot of your review. 2) Your mailing address to: Info@GetRichEducation.com

#58: What is "seller financing" of real estate? Why might you want to use it? David Campbell of Hassle-Free Cash Flow Investing is our guest today. 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: 01:14 Keith is in coastal San Juan Del Sur, Nicaragua today. 05:18 What is seller financing? 08:06 Why use seller financing? 10:08 Examples of creatively structuring a purchase offer with seller financing. 13:42 When a buyer needs to educate a seller. Hint: talk about the "benefits" to motivate the seller. 21:07 Other names for seller financing are: seller carry, carry-back financing, "subject to," "carrying paper." 21:58 The Due-On-Sale Clause. 23:53 What part of the market cycle does seller-financing work best in? 27:58 How do you FIND a seller-financed deal 28:49 Drawing up documents for a seller-financed contract. Use a Letter Of Intent. 30:46 Risks with this technique. 31:58 When you sell your own property, why you should offer seller financing. Resources: HassleFreeCashFlowInvesting.com - David Campbell's website, full of investor educational resources. MidSouthHomeBuyers.com or call (901) 217-4663 for Top-Notch Turnkey Rental Properties. NoradaRealEstate.com or call (800) 611-3060. Your Premier Source for Nationwide Turnkey Cash-Flow Investment Property. GetRichEducation.com - that's where to subscribe to our free newsletter, receive turnkey real estate webinar opportunities, and see all Events. Download the GRE Android App at Google Play to keep the GRE icon right on your phone's home screen! We would be so grateful if you wrote a review! Here's how to write one at: iTunes, Stitcher, and Android. To get a free GRE logo decal for your review, send: 1) A screenshot of your review. 2) Your mailing address to: Info@GetRichEducation.com

#57: Keith comes to you from Little Rock, Arkansas today. Our guest is Old Capital Lending's Michael Becker of Dallas, TX, to tell us about originating Multifamily Apartment Building loans. Want more wealth? Visit GetRichEducation.com and 1) Subscribe to our free newsletter. 2) Receive Turnkey RE webinar opportunities. Listen to this week's show and learn: 01:05 Keith is in Little Rock, Arkansas this week for an investment real estate tour. 04:53 Michael Becker of Old Capital Lending appears. 06:50 Single Family Homes vs. Multifamily Apartment advantages / disadvantages. 08:57 Recent happenings in this lending space. 10:20 Loans for 5+ unit residential property are called commercial loans. 11:55 Multifamily commercial loans are primarily qualified by the asset, not the borrower. 15:48 Residential 1-4 lending is like a formulaic science; multifamily commercial 5+ is closer to an art. 17:48 Debt Service Coverage Ratio (DSC or DCR). 1.25 minimum is typical. 19:00 How much liquidity do you need for a multifamily loan? 21:12 Borrower credit scores. 24:10 Loan duration. 26:08 Balloon payments, Pre-payment Penalties, Assumable Loans. 29:26 Recourse vs. Non-Recourse Loans. "Bad Boy Carve Outs." 31:26 Can you buddy up with friends to buy a big apartment building together? 34:38 Qualifying for multifamily property loans out-of-state. 35:49 Higher closing costs for apartment building loans 39:32 How many states does Old Capital lend in? Resources: OldCapitalLending.com - Multifamily / commercial lending. SPIAdvisory.com - Michael Becker's syndicating company. MidSouthHomeBuyers.com or call (901) 217-4663 for Top-Notch Turnkey Rental Properties. NoradaRealEstate.com or call (800) 611-3060. Your Premier Source for Turnkey Cash-Flow Investment Property. GetRichEducation.com - that's where to subscribe to our free newsletter, receive turnkey real estate webinar opportunities, and see all Events. Download the GRE Android App at Google Play to keep the GRE icon right on your phone's home screen! We would be so grateful if you wrote a review! Here's how to write one at: iTunes, Stitcher, and Android. To get a free GRE logo decal for your review, send: 1) A screenshot of your review. 2) Your mailing address to: Info@GetRichEducation.com