Get Rich Education

#56: Learn today's financing qualification requirements for investment property with Caeli Ridge, Owner and CEO of Ridge Lending Group. This pertains to conventional financing of: single family homes, duplexes, triplexes and four-plexes that you do not intend to occupy. 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: 00:52 If you want to control more property, you need good loans. 04:50 Compared to last year, are borrower requirements more rigid or more lax? 07:39 Your credit score, debt-to-income ratio, percent down payment, reserve requirement. 12:46 Qualifying for your first 4 properties is different from your 5th through 10th financed properties. 15:47 Qualifying for your 11th through 35th financed properties. 17:13 Can foreign buyers qualify? Also, LIBOR comments. 19:28 Maximizing your cash-on-cash return when structuring a financed offer. 21:21 Buying income property outside the state where you reside. 22:44 Minimum loan amount is $50,000 to $60,000. 26:10 What is a Good Faith Estimate? 27:58 Closing costs - what are they and where do they all come from? 30:58 Why you would want to pay a 2% Origination Fee rather than 1%. It's by paying 1 Discount Point to "buy down" your interest rate. 32:55 Recording costs, transfer taxes, escrow charges, appraisal fees, processing fees. 36:02 Title Insurance Resources: RidgeLendingGroup.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 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

#55: Gary Carmell, author of "The Philosophical Investor: Transforming Wisdom Into Wealth", is our guest today. Gary discusses how you think about investing, interest rates, and monetary policy. Want more wealth? Visit GetRichEducation.com and 1) Subscribe to our free newsletter, and 2) Receive Maverick turnkey RE webinar opportunities. Listen to this week's show and learn: 01:32 A frustrated GRE listener in the Netherlands gives programming feedback. 08:11 Most real estate is a bad investment. Maverick Investor Group's 2015 report excerpts. 13:16 Interview: Gary Carmell, author of The Philosophical Investor: Transforming Wisdom Into Wealth. 16:21 An example of transforming wisdom into wealth. 17:43 Investors get discouraged at exactly the time they should be buying. 19:56 In investing, discipline and courage often trump hard work and intelligence. 21:53 "The Munger Moment." 24:00 You never know when a market is at the high or the low. 24:59 Real estate investing is a game of attrition. 27:18 Does Gary see a better investment class than Keith's preferred investment? 30:14 Why institutional RE investor groups buy low yield, Class A properties. 32:46 Cap rates. Recency bias. Interest rates. 34:48 Inflation vs. Deflation. 37:08 Demographics. An aging population's effect on world economies. 39:14 QE vs. interest rate hikes. 40:19 LIBOR and variable interest rate loans for real estate. 44:24 Arbitrage creation. Resources: Book: The Philosophical Investor: Transforming Wisdom into Wealth by Gary Carmell. Gary's website: GaryCarmell.com Company website: www.cwscapital.com Maverick Investor Group's report, "How To Avoid The 7 Biggest Mistakes Investors Make In The 2015 Boom Cycle" authored by Matthew Bowles. 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

#54: Today you are going to learn more about credit scores than you ever have. We're joined by 720 Credit Score's Philip Tirone. 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: 01:33 A high credit score reduces your cost of capital, and maximizes your ROI. 08:28 You can have bad credit even if you pay your bills on time. 09:04 Credit scores matter for: property loans, car loans, insurance, employment, credit cards, more. 61% of employers run your credit report before hiring you. 10:21 Why credit scoring is a monumental scam. Yes, a scam. 11:45 You can have a clean credit report, yet poor credit score. 13:45 Many credit repair companies use illegal tactics. 15:03 46% of credit cards in your wallet do not report proper information to the credit bureaus. 18:28 You need 3 to 5 credit cards. 20:20 Get credit cards that: 1) Report to all three bureaus. 2) Report the proper credit limit. 21:03 Credit card utilization ratios. American Express often behaves differently. 23:30 FICO credit scores are the ones that matter. 26:07 U.S. vs. Canadian credit scoring Other developed western countries like Great Britain and Australia are similar. 27:10 The well-known pie chart at www.MyFico.com. 28:10 Installment loans' importance. 29:02 Credit utilization ratio "breaks" at 100%, 90%, 70%, 50%, 30%, 10%, and 0%. 31:57 Credit inquiries and how much they matter; controlling credit report errors. 33:50 If your credit score is already above 720, you could still be brought down by one error. 34:55 Collections. 36:42 Get free credit reports (not scores) annually here: AnnualCreditReport.com 40:00 Why banks lack motivation to help you improve your credit score. Resources: 720CreditScore.com - Philip Tirone's company that helps clients rebuild their credit. MyFico.com AnnualCreditReport.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 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

#53: Your income and cash flow tell you about yourself and your allocation. What proportions are active, earned, and passive income? Where are you vulnerable? Want more wealth? Visit GetRichEducation.com and 1) Subscribe to our free newsletter, and 2) Receive Maverick turnkey RE webinar opportunities. Listen to this week's show and learn: 02:45 Most people's #1 cash flow source is their work-a-day job. But they're trading their time for dollars. 04:02 Here's how to best determine your cash flow. Cash flow is simply income minus expenses. 05:54 Current U.S. median household income, Top 10%, and Top 1%. 10:02 You need cash to function in an economy, not equity. 11:32 How you can have a negative net worth, yet be financially free. 15:25 Trace your personal cash flow to different industry sectors. 22:04 "Budget" is almost a swear word. 25:07 Turning equity into cash flow. 28:14 "Retirement calculators" don't work for real estate investors. 32:12 The Outsourcing Myth. 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 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

#52: Financially, how much are you worth? Here's how to determine your net worth and what it means to you. Want more wealth? Visit GetRichEducation.com and 1) Subscribe to our free newsletter, and 2) Receive Maverick turnkey RE webinar opportunities. Listen to this week's show and learn: 02:43 Here on GRE's 1 Year Anniversary show, what's in the name, "Get Rich Education?" 05:30 Your Financial Net Worth is what you own minus what you owe. 11:32 Your Net Worth compared to other Americans. 17:00 GRE's John Collins appearance. 20:55 Your liquidity. 23:06 The interest rate you're paying on your debt. Credit card arbitrage. 25:56 Your Net Worth worksheet helps make leverage's power transparent. 28:15 Real estate investing is a game of attrition. 30:56 Generations ago, there was a wealth gap between families. Today, it's within families. Resources: Mint.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 Turnkey Cash-Flow Investment Property. Visit GetRichEducation.com 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

#51: What if the real estate market crashes? Our guest, Hassle Free Cashflow Investing's David Campbell, tells us how to hedge yourself against this with Mortgage Note Investing. Learn why this could be the ideal time in the real estate market cycle for Mortgage Note Investing. This can provide stable returns to you, yet more liquidity than owning real estate. Want more wealth? Visit GetRichEducation.com and 1) Subscribe to our free newsletter, and 2) Maverick turnkey RE webinar opportunities. Listen to this week's show and learn: 02:36 You can be the bank. Rather than be the real estate investor, you can be the real estate lender. 05:08 Our guest, HassleFreeCashflowInvesting.com's David Campbell invests based on the real estate market cycle. 08:58 Terms similar to Mortgage Note Investing are: Hard Money Lending, Private Lending, Deed Of Trust Investing, Seller Financing. 12:36 What's the minimum amount of money you need for Mortgage Note Investing? 13:20 How you get money for this investment. Arbitrage. 17:10 How Mortgage Note Investing's advantage over Peer-To-Peer Lending instruments like Lending Tree and Prosper. In a word, the answer is "collateral." 19:25 Why this is a good time in the market cycle to be a Mortgage Note Investor. 24:35 Many people are equity rich and cash poor. 27:48 Mortgage Note Investing with IRA funds and how this is tax-savvy. 30:00 How to buy a good Mortgage Note and what to avoid. 31:26 How David's company, Hassle-Free Cashflow Investing, makes Note investing easy for you. 32:30 Mortgage Notes are more liquid than real estate. 36:05 When David began investing, it included tons of hassle. He changed course. Resources: Visit HassleFreeCashflowInvesting.com for a free report and videos on Mortgage Note Investing and more. MidSouthHomeBuyers.com or call (901) 217-4663 for top-notch turnkey rental properties. Visit GetRichEducation.com 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

#50: If you don't have a concrete day dream, then how will you know what success is? How do you reach your day dream? What must you avoid to reach it? Want more wealth? Visit GetRichEducation.com and Subscribe to: 1) Our free newsletter, and 2) Maverick turnkey RE webinar opportunities. Listen to this week's show and learn: 01:02 When you own enough cash flowing rental units, you are financially free. What's your number? 03:18 Goals vs. Dreams. 10:04 One big key to reaching your day dream and what you must avoid. 14:24 Leverage, abundant thought. 17:30 The #1 question that you need to ask about an investment. 19:44 Employer-sponsored retirement plans like 401(k)s are costly. You're committing Life Deferral just to get Tax Deferral. Stop. 25:55 The exotic Panama Coffee Farm Tour is November 13 - 15th, and you're invited! And it's free. Come meet Keith. Send an e-mail to Coffee@GetRichEducation.com 34:20 Quit committing Life Deferral. 35:18 Dan Sullivan and the four Cs: Commitment, Courage, Capability, then finally, Confidence. 37:52 Why be a millionaire? You already own a multi-billion dollar asset. 38:48 Dr. Martin Luther King, Jr. and Margaret Thatcher were day dreamers. Don't quit your day dream. Live it. Resources: E-mail Coffee@GetRichEducation.com to buy your cash-flowing Panama coffee farm parcels. MidSouthHomeBuyers.com or call (901) 217-4663 for top-notch turnkey rental properties. Visit GetRichEducation.com 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

#49: Your ramifications from U.S. home ownership plummeting to Its lowest rate in 48 years. Current trends: latest home price appreciation rate, rental vacancy rate, and how you can profit. Want more wealth? Go to MaverickInvestorGroup.com/GRE to download our most-recommended report for free. Listen to this week's show and learn: 02:50 Upcoming Memphis real estate market visit. 04:57 The U.S. home ownership rate has plummeted to a 48-year-low of 63.4%. 06:25 Four reasons that economic forces will drive the home ownership rate even lower in the future. 09:48 U.S. median home price is now $229,400. That's up 8% year-over-year. 11:42 Why renters stay renters, not buyers. 13:12 San Francisco. 19:58 If real estate values go down, do rents go down? 23:19 Transcending the investor psychology of markets and crowds. 25:21 Stringent lending standards means your renter can't get a loan. 27:30 Matt Bowles appearance on the Kansas City market. Resources: MidSouthHomeBuyers.com or call (901) 217-4663 for top-notch turnkey rental properties. Visit GetRichEducation.com 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

#48: Our guest is Maverick Investor Group's Matt Bowles, a nationally-recognized investment property specialist. Offering turnkey properties in 7 of the best U.S. geographic markets, the Maverick model offers you professionally renovated property, with a rent-paying tenant and management already in place. Get Maverick's free 36-page report at: MaverickInvestorGroup.com/GRE Want an invitation to Maverick's next free webinar to buy turnkey property not available to the general public? Then sign up for the Get Rich Education newsletter at GetRichEducation.com Subscribe on iTunes so you never miss an episode. Listen to this week's show and learn: 02:25 Matt was named one of the "Top 50 RE Investment Opinion Makers and Market Leaders" by Personal Real Estate Investor magazine. 09:30 How Matt began in real estate investing with buying a $325,000 4BR single-family home in Washington, D.C. 12:40 Matt begins buying investment homes in Las Vegas and Phoenix. 15:33 Some companies misuse the term "turnkey" real estate investing. 23:23 Sadly, local providers are always trying to convince you to buy in their market. 25:10 Why the best RE markets change over time. 32:12 The myth that people pay more for turnkey property than other property. They don't. 38:38 How do you know that you're paired with the right provider within a good market? 43:39 Keith's due diligence with Maverick. Resources mentioned: MaverickInvestorGroup.com/GRE Book: What Every Real Estate Investor Needs To Know About Cash Flow MidSouthHomeBuyers.com or call (901) 217-4663 for top-notch turnkey rental properties. Visit GetRichEducation.com to subscribe to our free newsletter, receive Maverick 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

#47: Inflation is your "friend" when you're a real estate investor with a financed property. Inflation is expected long-term. In the short-term, low oil prices are slowing inflation. This affects you. Subscribe on iTunes so you never miss an episode. Listen to this week's show and learn: 01:11 Income property pays you five ways at the same time. 03:33 Why RE investors with loans want inflation. Examples given. 07:42 Two big reasons why the U.S. government wants to ensure that inflation continues. 12:52 Why Keith is an inflation "cheerleader". 15:14 How low oil prices are slowing inflation. Why oil is a "leading indicator" of inflation. 17:28 Regional influences from low oil prices - Texas, Oklahoma, upper Midwest, more. 20:24 $15 minimum wage and real estate investors. 22:17 Why every human being pays a different rate of inflation. 23:20 Savers are losers. Debtors are winners. How? 23:55 The action you can take to benefit from inflation. Resources mentioned: http://www.innovativewealth.com/alternative-investment/inflation-the-secret-to-building-wealth-in-real-estate/ MidSouthHomeBuyers.com or call (901) 217-4663 for top-notch turnkey rental properties. Visit GetRichEducation.com to subscribe to our free newsletter or 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