Get Rich Education

#40: Graham Parham, Senior Mortgage Loan Officer with Highlands Residential Mortgage in Dallas, TX, tells you how to best obtain mortgage loans for investment real estate in today’s lending environment.   Listen to this week’s show and learn:   03:02  Why you often want a mortgage loan, even if you can pay cash for a property.   04:35  Your downside risk of high leverage.   05:50  Loan-To-Value ratio (LTV) explanation and significance.   08:08  Last chance to invest in your own Panama coffee farm parcels at a discount.   12:38  Mortgage Banker and Mortgage Broker - what’s the difference?   14:00  Why it’s more difficult to qualify for a loan today.   18:01  The three “C”s: Credit, Capacity, Collateral. Your requirements for credit score, reserves, and down payment.   23:44  Interest rates for an investment property are higher than for a primary residence.   24:39  How long will interest rates stay low?   26:08  Are 40-year mortgages coming?   28:50  Your debt-to-income ratio (DTI).   31:26  Can foreign buyers obtain loans for U.S. property?   32:55  LLC formation for income property.   36:38  Seeking more than 10 financed properties?   37:36  How RE investors from one state can buy in a different state.   39:37  Keith’s strategies on reducing your DTI so that you can qualify for income property.   42:23  Use AirBnB income to qualify for rental property?   42:43  Home Equity Lines Of Credit (HELOCs) can help you tremendously.   44:27  Self-employment income and your loan qualification.   Resources mentioned:   GrahamParham.com | (855) 326-6802 | gparham@highlandsmortgage.com     MyFico.com   Dodd-Frank Act   InternationalCoffeeFarms.com (ICFC). One qualifies for the ICFC $1,000 discount per coffee parcel by e-mailing Coffee@GetRichEducation.com and submitting paperwork to ICFC by July 31, 2015. An additional 30 days is allowed to fund.   Visit our website at GetRichEducation.com to subscribe to our free newsletter.   Download the GRE Android App at Google Play and keep the GRE icon right on your phone’s home screen!   We would be grateful if you wrote a review! Here’s how to write one at: iTunes, Stitcher, and Android!  

#39: Josh & Lisa Lannon weathered adversity and came out the other side to serve more people by doing the right thing.   Listen to this weeks show and learn:   01:02  What’s your inner investor purpose?   06:40  Grow up, get good grades, go to college & get a job that you don’t like so you can pay your debts. Is that all?   07:43  The Lannons met at a Las Vegas nightclub.   09:54  Lisa issued Josh an ultimatum. Josh had to stay sober to keep their marriage, sending Josh into the unknown.   14:33  After healing themselves and reading Robert Kiyosaki’s “Choose To Be Rich”, the Lannons opened rehab centers to help others.   17:35  When it comes to finding your business teammates, you will attract what you are.   19:27  The Lannons’ real estate business.   22:42  The B-I Triangle symbolizes the 8 integrities of business. It also guides mission, vision, and values.   23:00  If you’re inside the triangle, you’re working “in” your business. If you’re outside the triangle, you’re working “on” your business.   27:14  Values vs. Competency.   29:49  Though every Rich Dad Advisor book is terrific, why Keith recommends reading The Social Capitalist first.   31:28  A Social Capitalist does good in the world AND profits.   Resources mentioned:   TheSocialCapitalistBook.com - See the "Creating A Rich Life" program.   Amazon: The Social Capitalist by Josh & Lisa Lannon   RichDadAdvisors.com   InternationalCoffeeFarms.com (ICFC). One qualifies for the ICFC $1,000 discount per coffee parcel by e-mailing Coffee@GetRichEducation.com and submitting paperwork to ICFC by July 31, 2015. An additional 30 days is allowed to fund.   Visit our website at GetRichEducation.com   Download the GRE Android App at Google Play and keep the GRE icon right on your phone’s home screen!   We would be grateful if you wrote a review! Here’s how to write one at: iTunes, Stitcher, and Android!  

#38: After running out of his own money for cash flowing single family homes, Joe Fairless turned to real estate syndication. Listen to this week’s show and learn: 03:24  What to do when you've run out of money to buy property for yourself. 06:42  Joe worked a full-time job for less than minimum wage. Later, he invested $1,000 in a bank CD. 09:20  Starting out buying rental homes in Dallas-Fort Worth. 15:10  How to help ensure that a property manager treats you well. 17:47  A good explanation of a real estate syndication. 20:05  How Joe raised money for a 168-unit apartment building when he’s never owned any multifamily property before. 25:25  The kind of investor returns that are typical in a syndication. 32:03  100% LTV HELOCs on your primary residence are available at a major national bank. 32:55  Impactful message from a GRE listener. 36:28  Rich Dad Advisors appear on GRE next week. Resources mentioned:  Equity Happens book Quotiful app The Social Capitalist book JoeFairless.com and the Best Real Estate Investing Advice Ever podcast InternationalCoffeeFarms.com (ICFC) One qualifies for the ICFC $1,000 discount per coffee parcel by e-mailing Coffee@GetRichEducation.com & submitting paperwork to ICFC by July 31, 2015. An additional 30 days is allowed to fund. See the new website at GetRichEducation.com Download the GRE Android App at Google Play and keep the GRE icon right on your phone’s home screen! We would be grateful if you wrote a review! Here’s how to write one at: iTunes, Stitcher, and Android!

#37: International Real Estate Developer Beth Clifford describes the dynamics of new U.S. real estate development. She also touches on the opportunity in the Central American nation of Belize.   Listen to this week’s show and learn:   01:29  The U.S. population increases by 2+ million annually, and they all need a place to live. This naturally increases demand for real estate.   08:44  Thinking and acting big.   11:33  Why develop a new piece of land rather than just buy an existing building?   13:40  New development = better returns, higher risk.   18:00  Successful developers use design that fits the latest lifestyle trends.   22:40  How to forge relationships so that local government officials will support your new development.   26:27  The financing and funding climate for real estate development today.   33:24  Strong development sectors for investors include residential, medical-office, and travel & leisure.   36:04  New industries like AirBnB, Uber, and autonomous cars influence real estate development trends.   40:26  More Americans are retiring outside the United States. Beth is developing a resort-village in Ambergris Caye, Belize to help serve this need.   Resources mentioned:   MahoganyBayVillage.com   WeWork.com   Zero To One book by Peter Thiel   InternationalCoffeeFarms.com (ICFC) One qualifies for the ICFC $1,000 discount per coffee parcel by e-mailing Coffee@GetRichEducation.com & submitting paperwork to ICFC by July 31, 2015. An additional 30 days is allowed to fund.   New! Check out the beta version site at GetRichEducation.com   Download the GRE Android App at Google Play and keep the GRE icon right on your phone’s home screen!   We would be grateful if you wrote a review! Here’s how: iTunes, Stitcher, and Android.

#36: Keith’s 8-plex has had its share of problems and opportunities since he bought it two years ago. See how he views a property with an “investor’s eyes.” Learn to avoid problems.   Listen to this week’s show and learn:   01:27  A blogger calls Keith the “anti-Dave Ramsey.”   04:44  The only “problem” with having millions of dollars in debt? It's wanting more.   06:48  Problems and operations at Keith’s 8-plex building.   13:20  The trade-offs of owning a large lot along with an apartment building.   17:38  Adding income to your property by leasing space to a cell phone tower provider.   20:57  Big problems with the building’s water well.   31:44  A major maintenance item needed repair. Not all building repairs provide the same returns.   34:45  The 8-plex’s appreciation over two years is a 43% gain on the down payment, amplified with leverage.   Resources mentioned:   www.InternationalCoffeeFarms.com (ICFC)   One qualifies for the ICFC $1,000 discount per coffee parcel by e-mailing Coffee@GetRichEducation.com & submitting paperwork to ICFC by July 31, 2015. An additional 30 days is allowed to fund.   New! Check out the beta version site at GetRichEducation.com   Download the GRE Android App at Google Play and keep the GRE icon right on your phone’s home screen!   We would be grateful if you wrote a review! Here’s how to write one at: iTunes, Stitcher, and Android.  

#35: Ray Dalio, Founder and CEO of the Bridgewater Associates investment firm with his brilliant work, “How The Economic Machine Works”. Listen to this week’s show and learn 1:47  Definition of “economy.” 2:00  Produce more than you consume. 5:59  “How The Economic Machine Works”   Resources mentioned: You Tube video “How The Economic Machine Works”: here. Written .pdf document “How The Economic Machine Works”: here. Ray Dalio Wikipedia Page: here. TheLandGeek.com/GRE MidSouthHomeBuyers.com New! Check out the beta version site at GetRichEducation.com Download the GRE Android App at Google Play and keep the GRE icon right on your phone’s home screen! We would be grateful if you wrote a review! Here’s how to write one at: iTunes, Stitcher, and Android.  

#34: Author, Investor, and Entrepreneur Gena Lofton transformed her life from homeless in southcentral Los Angeles to owning 2,000 rental units today. Listen to this week’s show and learn: 02:12  What the concept of “Sending the elevator back down” means. 10:55  One wealth-building element is being a contrarian. 13:34  Gena didn’t have a “Rich Dad” or a “Poor Dad.” 15:45  The value in Gena’s book is its beautiful simplicity. 16:41  How to know when your “why” is strong enough. 20:24  The “genie” inside of us. 21:14  How Gena gets rich with debt.   Resources mentioned: Book - Escape The Madness: 10 Steps To Get Out Of The Rat Race PassiveIncomeAdvisors.com – Gena’s website TheLandGeek.com/GRE MidSouthHomeBuyers.com New! Check out the beta version site at GetRichEducation.com Download the GRE Android App at Google Play and keep the GRE icon right on your phone’s home screen! We would be grateful to you for writing a review. Here's how to write one on: iTunes, Stitcher, or Android!

#33: Millionaires are not wealthy. In the end, you ultimately don’t seek financial wealth anyway. Listen to this week’s show and learn: 01:31  GRE is perhaps the only show that regularly delivers all three: education, actionable content, and motivation. 02:35  Listeners are taking action toward a GRE mantra of “Don’t follow money. Make money follow you.” 04:38  If you aspire to be a U.S. dollar millionaire, you’re losing. 08:24  Inflation debases a dollar’s value and the worth of a millionaire. 09:54  Why America continues to have an inflationary mandate. 11:58  Wealthy people buy time. Middle class and poor people sell time. 14:44  Living well and giving well trumps the financial wealth created through real estate investing. Most forget this. 16:58  How wealthy people buy fun toys that enhance their lifestyle. 18:40  Keith’s “hero”. 20:22  At the end of your life, how will your autobiography or obituary read if it tells the truth? 23:12  Mark Podolsky, aka “The Land Geek”, has a compelling, profitable business model that you can learn. 25:01  How to contact Keith if you would like him as a live speaker at your event.   Resources mentioned: www.TheLandGeek.com/GRE www.MidSouthHomeBuyers.com New! Check out the beta version site at GetRichEducation.com GRE has a new Android App. Download it at Google Play and keep the GRE icon right on your phone’s home screen!  

#32: Future technologies like 3-D Printing, Drones, Robotics, Bionics, and Asteroid Mining promise to change your real estate and other investing. Listen to this week’s show and learn: 02:38  Technological change over the last 10 years. 05:32  Learning about the future does not dispense fear; it dispels fear. 08:03  How 3-D Printing will change real estate investing. 12:56  Asteroid mining could change earth’s resource extraction industry. 18:58  3-D Printing of consumer products, medical devices, food, and even cars. 22:30  A user-friendly interface is what turns an emerging technology into mainstream adoption. 24:30  Robotics can change the geographic distribution of jobs. 26:31  Technology often doesn’t eliminate employment. Rather, it shifts. 29:04  The future’s influence on residential real estate versus other real estate types. 30:30  Does technological gain correlate with urbanization or de-urbanization? 32:33  Bionics. When will technology disrupt culture such that it changes what “being human” means?   Resources mentioned: StevenKotler.com Steven Kotler Wikipedia Page Steven’s latest book: Tomorrowland PlanetaryResources.com X Prize International Coffee Farms website  E-mail Coffee@GetRichEducation.com with your contact info. for a generous discount on this investment, only for Get Rich Education listeners. You are not obligated to buy anything. New! Check out the beta version site at GetRichEducation.com GRE has a new Android App. Download it at Google Play and keep the GRE icon right on your phone’s home screen!

#31: Mortgage interest rates are just one of many influences on real estate values and rent income. Listen to this week’s show and learn: 01:28  Get Rich Education vs. College Education. 03:58  The rate of home ownership has declined over the last decade. This is good for income property investors. 06:03  The irony that the greatest investment asset – real estate - is ubiquitous. 08:55  Other people’s money. 11:30  How are 25% to 30%+ annual rates of return with investment real estate considered common? 16:28  Some U.S. real estate advantages compared with Canada. 18:42  What will higher mortgage rates do to housing prices? 21:24  Housing price-to-income ratios in the U.S., Canada, Europe, South Africa, Australia. 23:11  What makes renters keep renting rather than be homeowners. 29:43  Why it’s better to invest in residential - rather than retail, office, industrial, and other types of real estate.   Resources mentioned: Mortgage News Daily – Keith’s favorite mortgage resource Numbeo.com – A great housing price indicator resource International Coffee Farms website For a generous discount on this investment, E-mail your contact info. to Coffee@GetRichEducation.com  GRE has a new Android App! Download it at Google Play. You can keep the GRE icon right on your phone’s home screen!