Get Rich Education

#107: Rich Dad Advisor Garrett Sutton is our guest today. His firm, Corporate Direct, offers smart asset protection and simplifies what seems complex.

Keith is back in Anchorage, AK for today's show.

Want more wealth? Visit GetRichEducation.com and 1) Subscribe to our free newsletter, and 2) Find turnkey real estate investing opportunities.

Listen to this week's show and learn:

02:12 Rely on your team. You don't need to know everything.

04:52 "12 Reasons It's A Great Time To Be A Real Estate Investor."

11:20 Garrett Sutton interview begins.

12:45 Charging orders.

14:48 States offer different protections. You can "borrow" from the best state's protection.

17:05 Texas asset protection.

22:24 Protecting yourself when you own real estate in multiple states.

25:04 Equity stripping.

26:18 Why Garrett wrote his new book, Toxic Client.

28:12 "Entitlementia."

31:24 Why many attorneys get asset protection wrong.

33:18 When Robert Kiyosaki was famously sued, Here's how Garrett protected him.

34:14 Corporate Direct's affordable fees. $695, or $595 for GRE listeners.

Resources Mentioned:

CorporateDirect.com

Phone Corporate Direct 1-800-600-1760

Amazon: Toxic Client book

Entitlementia.com

NoradaRealEstate.com

RidgeLendingGroup.com

GetRichEducation.com

#106: With enough passive income to meet your living expenses, you can potentially quit your job. GRE's Business Developer John Collins just quit his job. He tells us how it feels.

Keith brings you the show from Ontario, Canada today.

Want more wealth? Visit GetRichEducation.com and 1) Subscribe to our free newsletter, and 2) Find turnkey real estate investing opportunities.

Listen to this week's show and learn:

02:38 How close are you to quitting your job? The PPY.

05:42 A metaphor about life being the journey, not the destination.

07:40 If the Dow Jones rises from 19,000 to 20,000 points, that's NOT a gain!

10:41 With zero financial education, stocks are better than real estate. With some education, real estate is better.

12:08 Monthly property management statements.

15:50 The jet pilot.

19:12 GRE's John Collins quit his job that paid $100K-$200K per year.

22:47 Overcoming fear of leaving the job.

24:32 Nothing dispels fear like education; social connections.

28:48 Altering your life structure.

32:35 Do you still know when it's "Payday" at your employer?

36:40 Feel of the "corporate-ocracy."

39:09 With more passive income, here's how you'll begin thinking differently than your co-workers.

41:15 Entrepreneurship is not for everybody. "Turnkey job."

Resources Mentioned:

Book: "Pivot" by Jenny Blake

CorporateDirect.com

NoradaRealEstate.com

RidgeLendingGroup.com

GetRichEducation.com

#105: Texas is a job creation juggernaut. Companies are being lured to Texas at a staggering rate by a business-friendly environment, low labor costs, and tax incentives.

Texas is where you have some of the fastest-growing, most economically stable markets in the nation.

Your durable rent income comes from tenant jobs. Learn about how to get into this market with an award-winning turnkey real estate investment provider at GetRichEducation.com/Texas.

Want more wealth? Visit GetRichEducation.com and 1) Subscribe to our free newsletter, and 2) Find turnkey real estate investing opportunities.

Listen to this week's show and learn:

03:29 Turnkey real estate investing defined.

04:44 Win-wins.

05:16 Why turnkey RE is not too good to be true.

09:30 A "Tenant Inspection Report."

11:34 Carl Dean interview begins.

13:39 Carl moved to Texas because that's where the jobs and better properties are.

15:05 Is the Texas RE market overheating?

18:02 Medical, financial sectors. More than just oil.

20:19 Migration into Texas.

21:53 Property taxes.

24:03 Price sweet spot of $140K-$250K. Rent-to-value ratios.

25:15 Lease duration and 5% rent increases each year.

29:40 Plano and Frisco often have price points that exceed the cash flow "sweet spot." Fort Worth and south Dallas areas are generally better.

32:18 3 Bed / 2 Bath single-family homes are the minimum size criterion.

35:07 Exit strategy.

37:58 A "cheap" property isn't enough for an investor.

38:50 Placing the right tenant. Minimum $1,200 rent amount.

41:04 How does Carl find his inventory?

45:17 Cash flow in Texas vs. other markets.

Resources Mentioned:

GetRichEducation.com/Texas

Trulia.com

CorporateDirect.com

NoradaRealEstate.com

RidgeLendingGroup.com

GetRichEducation.com

104: T.Harv Eker is our guest today. His mega-popular seminars and book, "Secrets Of The Millionaire Mind: Mastering The Inner Game Of Wealth" have transformed countless lives.

Harv tells you: "Think Rich To Get Rich."

Want more wealth? Visit GetRichEducation.com and 1) Subscribe to our free newsletter, and 2) Find turnkey real estate investing opportunities.

Listen to this week's show and learn:

03:58 What do you really want in your life?

09:04 Thoughts > Feelings > Actions > Results

11:28 Your mind is set to a "Wealth Thermostat."

14:37 How to change your Wealth Thermostat: 1) Awareness. 2) Understanding. 3) Reconditioning.

19:24 Your thought influences are: verbal conditioning, modeling, specific incidents.

20:35 Are rich people evil?

26:08 Is it ethical to make passive income?

32:15 How rich people specifically think differently than most people.

34:50 The Bible and wealth.

39:14 Dealing with your disapproving family members.

44:28 Seminars.

45:10 How to win the money game.

50:31 The importance of passive income is freedom.

55:20 "SpeedWealth" has 8 principles.

Resources Mentioned:

Get SpeedWealth free at HarvEkerOnline.com/GRE

Secrets Of The Millionaire Mind - book

CorporateDirect.com

NoradaRealEstate.com

RidgeLendingGroup.com

GetRichEducation.com

#103: Tom Wheelwright is a tax genius and regular contributor here. He's the Founder and CEO of ProVision Wealth, which prepares Keith's tax returns. TaxFreeWealthAdvisor.com

Want more wealth? Visit GetRichEducation.com and 1) Subscribe to our free newsletter, and 2) Find turnkey real estate investing opportunities.

Listen to this week's show and learn:

04:04 Every dollar of your income is either taxable or not taxable.

08:08 How you are double and triple-taxed.

09:59 How tax depreciation works for real estate investors.

13:33 Cost segregation.

16:10 Why Donald Trump won't release his tax return.

20:14 Here's when you start a tax and asset protection strategy.

23:40 Holding your real estate in an LLC vs. "S" Corp.

25:55 IRS audits and taking deductions.

28:06 Garrett Sutton.

29:40 Picking the wrong lawyer.

32:48 Audit prevention: 1) Documentation. 2) Competent tax preparer. 3) Don't talk to the IRS.

Resources Mentioned:

TaxFreeWealthAdvisor.com or call 866-467-5809

CorporateDirect.com

NoradaRealEstate.com

RidgeLendingGroup.com

GetRichEducation.com

#102: Hardship in your life changes your mindset, goal, timetable, and your investing risk tolerance.

It changes how your think about your "Return On Time Invested." Meet Ben Leybovich.

Want more wealth? Visit www.GetRichEducation.com and 1) Subscribe to our free newsletter, and 2) Find turnkey real estate investing opportunities.

Listen to this week's show and learn:

03:39 Ben Leybovich Interview begins.

05:30 Ben is diagnosed with Multiple Sclerosis.

07:40 A process of elimination brings Ben to real estate investing.

11:08 Emotional investing.

14:20 Unlike Keith, Ben self-manages his properties. He uses Buildium.com.

16:40 ROI.

30:18 Cash flow rises faster than inflation when you're leveraged.

32:45 Guesswork - rent escalators, fixed mortgage interest rate duration.

33:43 Real estate environment in 2016.

36:50 Ben likes buying "below market." Underwrite to fundamentals.

39:26 Regional housing markets.

44:19 Ten years ago, U.S. housing prices were 24% higher than today, adjusted for inflation.

Resources Mentioned:

JustAskBenWhy.com

Buildium.com

NoradaRealEstate.com

CorporateDirect.com

RidgeLendingGroup.com

GetRichEducation.com

101: Geography is hugely important to real estate investing, economics, demography, and geopolitics.

Peter Zeihan has a remarkable grasp on "location, location, location."

Learn the case for why the United States is not in decline. It will continue as a global superpower.

Want more wealth? Visit www.GetRichEducation.com and 1) Subscribe to our free newsletter, and 2) Find turnkey real estate investing opportunities.

Listen to this week's show and learn:

04:01 The case that America is positioned to continue as a financial, agricultural, and industrial superpower.

06:05 Rivers.

08:38 Urban centers.

10:00 Geography shapes cultural isolation and integration.

13:16 Diffusion of ideas and technology.

14:55 3-D printing changing the geography of distribution.

23:35 Oil and petroleum.

30:28 Inflation vs. Deflation.

33:16 Japan.

38:23 Which countries will prosper.

42:14 Can another nation be like the United States?

43:05 U.S. Midwest, Texas looks great for growth. Alabama.

45:36 Gateway cities: San Francisco, Santa Barbara, New York, Miami and Seattle.

Resources Mentioned:

Zeihan.com

The Accidental Superpower (book)

CorporateDirect.com

RidgeLendingGroup.com

NoradaRealEstate.com

GetRichEducation.com

#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