Get Rich Education

#235: Under age 30? Then you've never been smacked in the face with an economic recession. I discuss.

At 33, Tim Bratz is an expert in apartment buildings, finding deals, raising money, coaching, personal development, and mindset.

Tim's real estate epiphany came when he saw a lucrative Manhattan real estate deal from the inside.

He bought his first house in Charleston, SC in 2009 with a credit card for $14,000.

Today, he has substantial equity in 2,000 doors and $150M+ in value.

The key? "Give before you ask."

I ask Tim about falling apartment cap rates today. He has an answer and plan for resilience.

He buys distressed properties at a discount and forces appreciation.

Tim attributes his rapid success to attending mastermind groups.

__________________

Want more wealth?

1) Grab my FREE E-book and Newsletter at: GetRichEducation.com/Book

2) Your actionable turnkey real estate investing opportunity: GREturnkey.com

3) Read my best-selling paperback: getbook.at/7moneymyths

__________________

Resources mentioned

Tim Bratz Websites:

CommercialEmpire.com

CLEturnkey.com

Tim Bratz Facebook:

Facebook.com/tlbratz

Mortgage Loans:

RidgeLendingGroup.com

Cash Flow Banking:

ProducersWealth.com

Turnkey Real Estate:

NoradaRealEstate.com

QRP:

TotalControlFinancial.com

JWB New Construction Turnkey:

NewConstructionTurnkey.com

Find Properties:

GREturnkey.com

Follow us on Instagram:

@getricheducation

Keith's personal Instagram:

@keithweinhold

#234: Learn why Millennials still cannot buy homes, and why real estate sales are down.

Real estate cannot be flash-printed or mined. It has a finite supply.

If you live in an investor-advantaged market in the Midwest or South, should you still buy out-of-market?

Get mortgage pre-approval before you make offers on property at GREturnkey.com.

Wealth Factory's Garrett Gunderson & I discuss why net worth is not the top wealth measure.

Learn the "one question" to define another's scarcity and abundance mentality.

Two key formulas:

Cash Flow Index = Loan Amount / Min. Monthly Payment

Investment Index = Down Payment / Monthly Cash Flow

I'm bringing you today's show from the southern Caribbean island of Bonaire.

__________________

Want more wealth?

1) Grab my FREE E-book and Newsletter at: GetRichEducation.com/Book

2) Your actionable turnkey real estate investing opportunity: GREturnkey.com

3) Read my best-selling paperback: getbook.at/7moneymyths

__________________

Resources mentioned

Garrett's Website:

WealthFactory.com

Garrett's Book:

Text "WWRD" to (801)503-9667

Mortgage Loans:

RidgeLendingGroup.com

Cash Flow Banking:

ProducersWealth.com

Turnkey Real Estate:

NoradaRealEstate.com

QRP:

TotalControlFinancial.com

JWB New Construction Turnkey:

NewConstructionTurnkey.com

Find Properties:

GREturnkey.com

Follow us on Instagram:

@getricheducation

Keith's personal Instagram:

@keithweinhold

#233: It's Rich Dad Month, Week 4 of 4.

Guest Robert Kiyosaki joins us.

Robert authored the landmark book "Rich Dad, Poor Dad" and is the #1-Selling Personal Finance Author Of All-Time.

He & I discuss the difference between real assets and fake assets.

Real assets put money into your pocket every month; they feed you.

Fake assets need you to feed them.

Robert thinks all this is wrong: Go to school. Get a job. Work hard. Save money. Get out of debt. Invest in the stock market for the long-term.

Savers are losers.

We also discuss: the dollar and the gold standard, teachers, taxation, derivatives, debt, socialism, infinite returns, and the Alaska Permanent Fund Dividend.

It's Robert's third all-time Get Rich Education appearance.

__________________

Want more wealth?

1) Grab my FREE E-book and Newsletter at: GetRichEducation.com/Book

2) Your actionable turnkey real estate investing opportunity: GREturnkey.com

3) Read my best-selling paperback: getbook.at/7moneymyths

__________________

Resources Mentioned

Rich Dad Website:

RichDad.com

Kiyosaki's New Book:

Fake

Nixon Gold Standard speech

Mortgage Loans:

RidgeLendingGroup.com

Cash Flow Banking:

ProducersWealth.com

Turnkey Real Estate:

NoradaRealEstate.com

QRP:

TotalControlFinancial.com

JWB New Construction Turnkey:

NewConstructionTurnkey.com

Find Properties:

GREturnkey.com

Follow us on Instagram:

@getricheducation

Keith's personal Instagram:

@keithweinhold

#232: It's Rich Dad Month, Week 3 of 4. Learn how to pummel your tax bill with Rich Dad Tax Advisor Tom Wheelwright.

Retail store closures continue to change the complexion of American malls and retail.

Hear a humorous comparison between spending your retirement at an Assisted Living Home vs. the Holiday Inn.

Learn how to take the home office deduction, about real estate Opportunity Zones.

Did you know that to take advantage of Opportunity Zones, you basically must be a developer?

With Bonus Depreciation, it could now make sense for you to tear down your IRA. Consider converting it to cash, then invest it for cash flow.

__________________

Want more wealth?

1) Grab my FREE E-book and Newsletter at: GetRichEducation.com/Book

2) Your actionable turnkey real estate investing opportunity: GREturnkey.com

3) Read my best-selling paperback: getbook.at/7moneymyths

__________________

Resources mentioned:

Tom Wheelwright:

Wealthability.com

Freddie Mac House Price Index:

FreddieMac.com

Mortgage Loans:

RidgeLendingGroup.com

Cash Flow Banking:

ProducersWealth.com

Turnkey Real Estate:

NoradaRealEstate.com

QRP:

TotalControlFinancial.com

JWB New Construction Turnkey:

NewConstructionTurnkey.com

Find Properties:

GREturnkey.com

Follow us on Instagram:

@getricheducation

Keith's personal Instagram:

@keithweinhold

#231: It's Rich Dad Month, Week 2 of 4. Learn how to optimize your rent income with Ken McElroy.

Learn how to create a profit spread just like the banks.

Case-Shiller vs. Freddie Mac - learn who has the best U.S. Housing Price Index.

Freddie Mac tracks all 50 states; Case-Shiller only tracks 20 large cities.

Freddie tracks sales from mortgages. Case-Shiller gets data from county assessor and recorder offices.

Real estate prices have an inverse relationship with rent amount.

If rent demand exceeds supply (tight market), learn how quickly you should raise rents.

If rent supply exceeds demand (slow market), learn how low you should let your standards drop.

Learn how to avoid "over-improving" a rental unit.

__________________

Want more wealth?

1) Grab my FREE E-book and Newsletter at: GetRichEducation.com/Book

2) Your actionable turnkey real estate investing opportunity: GREturnkey.com

3) Read my best-selling paperback: getbook.at/7moneymyths

__________________

Resources mentioned:

Ken McElroy:

www.KenMcElroy.com

Freddie Mac House Price Index:

FreddieMac.com

Mortgage Loans:

RidgeLendingGroup.com

Cash Flow Banking:

ProducersWealth.com

Turnkey Real Estate:

NoradaRealEstate.com

QRP:

TotalControlFinancial.com

JWB New Construction Turnkey:

NewConstructionTurnkey.com

Find Properties:

GREturnkey.com

Follow us on Instagram:

@getricheducation

Keith's personal Instagram:

@keithweinhold

#230: It's Rich Dad Month, Week 1 of 4.

If you work at a W-2 job, learn how to reduce your taxes.

Become a "real estate professional". If you're married with a stay-at-home spouse, you increase your chances.

To qualify as a real estate professional, RE must be your principal activity and consume at least 750 annual hours.

There are four income types for tax treatment:

1) Earned

2) Ordinary

3) Capital gains

4) Passive

Passive losses are only deductible against passive income.

We've recently undergone the most sweeping tax changes since 1986.

Your bonus depreciation benefit was introduced in Trump's Tax Cuts And Jobs Act - are you taking advantage of it?

__________________

Want more wealth?

1) Grab my FREE E-book and Newsletter at: GetRichEducation.com/Book

2) Your actionable turnkey real estate investing opportunity: GREturnkey.com

3) Read my best-selling paperback: getbook.at/7moneymyths

__________________

Resources mentioned:

Tom Wheelwright:

www.Wealthability.com

Mortgage Loans:

RidgeLendingGroup.com

Cash Flow Banking:

ProducersWealth.com

Turnkey Real Estate:

NoradaRealEstate.com

QRP:

TotalControlFinancial.com

JWB New Construction Turnkey:

NewConstructionTurnkey.com

Find Properties:

GREturnkey.com

Follow us on Instagram:

@getricheducation

Keith's personal Instagram:

@keithweinhold

#229: Holy shift! Mortgage rates have hit their lowest level in a year.

5.5% interest rate and a 20% down payment for an income property are today's terms.

740 credit score gives you the best rates.

Beyond your first 10 properties (single) and 20 properties (married), there is NO LIMIT on the number of properties you can buy (SFHs to four-plexes).

Though after 10 single / 20 married, your interest rate will be higher, though not by much.

Learn from Ridge Lending Group CEO & President Caeli Ridge about what you need to qualify for an income property loan today.

We discuss your DTI: debt-to-income ratio. I give an example of how to determine yours.

Want a cash-out refinance of your income property? 75% LTV for SFHs, 70% LTV for 2-4 unit properties.

Learn about why today's smart money often buys 1-4 unit properties rather than larger apartment buildings …

… it's the safety & stability of 30-year fixed loans.

Remember, last month on the show, Jim Rogers told us interest rates will go much higher over the long-term.

__________________

Want more wealth?

1) Grab my FREE E-book and Newsletter at: GetRichEducation.com/Book

2) Actionable turnkey real estate investing opportunity: GREturnkey.com

3) Read my best-selling paperback: getbook.at/7moneymyths

__________________

Resources mentioned:

Mortgage Loans:

RidgeLendingGroup.com

Find Properties:

GREturnkey.com

Cash Flow Banking:

ProducersWealth.com

Turnkey Real Estate:

NoradaRealEstate.com

QRP:

TotalControlFinancial.com

JWB New Construction Turnkey:

NewConstructionTurnkey.com

Follow us on Instagram:

@getricheducation

Keith's personal Instagram:

@keithweinhold

#228: Is Trump's real estate wealth self-made or inherited? You get surprising answers.

Also learn about property hold time, equity flipping, cap rates, health insurance, a mastermind group.

How long should you hold onto an investment property? Short answer is 8 years.

Generally, sell when you have at least 15% more equity than your contemplated replacement.

"Equity flipping" is a term that I introduce to you today.

Don't flip property, flip equity. This increases your velocity of money.

Learn all about Cap Rates.

Cap Rate is income divided by price. Cap Rates are driven by supply and demand.

Cap Rate excludes financing because you brought a mortgage to a property, the property didn't come with the mortgage.

Learn about health insurance for entrepreneurs.

Next month on the show: Robert Kiyosaki, Tom Wheelwright, and Ken McElroy will all be here for "Rich Dad Month".

__________________

Want more wealth?

1) Grab my FREE E-book and Newsletter at: GetRichEducation.com/Book

2) Actionable turnkey real estate investing opportunity: GREturnkey.com

3) Read my best-selling paperback: getbook.at/7moneymyths

__________________

Resources mentioned:

Visual Capitalist:

Trump: The Real Story

World Real Estate Trends & Climate:

GlobalPropertyGuide.com

Collective Genius Mastermind Group:

http://invite.thecollectivegenius.com/

Mortgage Loans:

RidgeLendingGroup.com

Cash Flow Banking:

ProducersWealth.com

Turnkey Real Estate:

NoradaRealEstate.com

QRP:

TotalControlFinancial.com

JWB New Construction Turnkey:

NewConstructionTurnkey.com

Find Properties:

GREturnkey.com

Follow us on Instagram:

@getricheducation

Keith personal Instagram:

@keithweinhold

#227: You are aging. So is America. The U.S. median age keeps rising.

We need more senior housing. Your demographics are baked in the cake.

Gene Guarino, owner of the Residential Assisted Living (RAL) Academy & I tell you about the opportunity.

Serve seniors by converting Single-Family Homes into Assisted Living Homes (ALHs).

There are two distinct pieces here:

1) The real estate.

2) The business with residents & care staff.

Average U.S. ALH tenant pays $4,000 per month x 10 residents = $40,000. Your net is about 30%. That's $12,000 month.

We discuss how to find the right real estate and strategies for filling it with residents.

Rule of thumb: 300 sf for every resident is quite comfortable.

Learn how an ALH-SFH "Profit & Loss Statement" looks.

ALH tenants are long-term, low impact, and pay above-market "rent".

My friend Brandon heard Gene here on the show before. Brandon got started. We discuss.

It's easiest for you to buy an existing business. If you can't then learn about your care staff's necessary qualifications.

Financing for ALHs? 80% loans.

__________________

Want more wealth?

1) Grab my FREE E-book and Newsletter at: GetRichEducation.com/Book

2) Actionable turnkey real estate investing opportunity: GREturnkey.com

3) Read my best-selling paperback: getbook.at/7moneymyths

__________________

Resources mentioned:

Gene's Online Course

Gene's Live Course

Brandon's e-mail: [email protected]

Mortgage Loans: RidgeLendingGroup.com

Cash Flow Banking: ProducersWealth.com

Turnkey RE: NoradaRealEstate.com

QRP: TotalControlFinancial.com

Find Properties: GREturnkey.com

Follow us on Instagram: @getricheducation

#226: You're at risk with only one income stream.

Federal government workers thought their income stream was "secure" until the recent shutdown.

Recently, my friend was uprooted when his employer handed their family a job transfer (move or be fired).

With only one income stream, you're beholden to one boss or one company's whims.

You need multiple, durable passive income streams.

America uses its land in surprising ways:

• 4% is urban land.
• 41% is pasture & range land.
• 20% is crop land.
• One company owns a timber stand nearly the size of West Virginia.

Surprisingly, America is becoming less mobile. Fewer people move homes annually. Effects discussed.

__________________

Want more wealth?

1) Grab my FREE E-book and Newsletter at: GetRichEducation.com/Book

2) Actionable turnkey real estate investing opportunity: GREturnkey.com

3) Read my best-selling paperback: getbook.at/7moneymyths

__________________

Resources mentioned:

Bloomberg: How America Uses Its Land

Axios: Americans Less Mobile

2019 State Business Tax Climate

Mortgage Loans: RidgeLendingGroup.com

Cash Flow Banking: ProducersWealth.com

Turnkey RE: NoradaRealEstate.com

QRP: TotalControlFinancial.com

Find Properties: GREturnkey.com

Follow us on Instagram: @getricheducation