Get Rich Education

#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

#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 ca

#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 parce

#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 busine

#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?

#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 pri

#30: What do common investor vocabulary terms mean and why do they matter to you? Listen to this week’s show and learn: 01:19  Get Rich Education has a new Android App at Google Play. 01:36  Why Keith sold stock when the S&P 500 Index was at 1,960 points. 03:05  S&P 500 Index and Dow Jones Industrial Average. 05:29  Why your local real estate team is often biased and cannot impartially serve you. 08:42  Why you want to build streams of income, not pools of cash. 10:32  Why real estate is not an “alternative” investment. Stocks are. 12:05  A damaging hail storm occurred in Dallas - a popular RE investor market. 14:57  International Coffee Farms and the benefits of diversifying in real assets internationally. 21:05  Hyperinflation. 22:50  Leverage, Leverage Ratio. 25:10  Title Insurance. What is it? 26:40  Value. The acronym D-U-S-T: Demand, Utility, Scarcity, Transferability. 30:32  How sharing Get Rich Education with others ultimately helps you.   Resources mentioned: International Coffee Farms websit

#29: Don Hobbs of “The One Thing” speaking tour tells us how to create more time and happiness in our lives. Listen to this week’s show and learn: 02:33  Listener feedback. They’re acting toward changing their lives. 06:06  Turnkey real estate investing. 11:03  Don Hobbs interview begins.   13:03  What is “The One Thing” that you do that will make everything else in your life easier? 16:05  Aspire to your best-and-highest use. 17:12  “The Domino Principle” optimizes your efficiency. 20:20  Multi-Tasking is a waste! 21:44  Time Blocking.   Resources mentioned: The One Thing live training webinars The One Thing – book     International Coffee Farms – cash-flowing coffee farms where you own the land Jim Rohn Kassandra Taggart Boltman’s book Mid South Home Buyers – Memphis turnkey property Join the GRE Facebook Page at Facebook.com/GetRichEducation Just launched - the GRE podcast Android App!

#28: How to invest in cash-flowing, turnkey agricultural real estate with Keith’s trusted provider. You own the land. Listen to this week’s show and learn: 02:33  Agriculture is one of the earliest human uses of real estate. 03:52  Coffee has sustainable world demand. Specialty coffee has short supply and high demand. 04:30  Some of the world’s most savvy economists are now investing in agriculture. 09:21  David Sewell, Founder of International Coffee Farms (ICFC), compares Panama’s infrastructure and business climate to other world nations. 13:56  David has a history of success by providing cash flow to investors with Colombian coffee farms. Today, he does this for you in Panama. 15:51  The difference between specialty coffee and commercial coffee. 18:41  The points grading system for coffee quality. 20:00  The strength of ICFC’s management team and harvest methods optimize investor cash flow. 25:15  Social sustainability - investors help farm hands. 27:41  Your investor rates of return.  31:51  The timing o

#27: Mark Podolsky tells Get Rich Education how he produces cash flow from raw land. Listen to this week’s show and learn: 02:05  Residential property management, fees, and an operations example at Keith’s 11-plex apartment building. 06:51  The classic professional management vs. self-management debate. 07:47  Mark Podolsky’s model eliminates the need for any property management at all. 09:57  Mark Podolsky interview begins and he explains his business model. 15:10  How to find out when & where land auctions are. 16:28  An example of how to structure a cash flowing raw land deal. 18:06  Why you can buy others’ raw land for pennies on the dollar. 19:29  How to identify the best land parcels. 25:45  How to start with essentially zero money. 28:11  What one needs to know before starting. 30:02  Mark’s big mistake.   Resources mentioned: www.TheLandGeek.com The Best Passive Income Model podcast www.Naco.org www.WeGoLook.com New: You can now hear GRE on SoundCloud

#26: Keith takes the microphone himself this week, helping cultivate an abundance mindset to give investors new epiphanies and motivation. Listen to this week’s show and learn: 02:14  Do you seek information or affirmation? 04:59  The quickest path to your wealth is guided by The Law Of Conformity. You might want to edit your existing friends list! 07:25  A profound comparison between slug, ant, hen, and human. How this helps you elevate awareness. 10:08  How expansionary investing thought permeates into other facets of your life. 12:45  A spin on how to define your goal. 15:55  “Maslow’s Hierarchy Of Needs” applied to your real estate investing life. 21:23  The value in “thinking about how you’re thinking”.   23:03  For more shows like this, listen to Get Rich Education episodes 1, 2, 5, and 17.   Resources mentioned: Maslow’s Hierarchy Of Needs Peter Sage Robert Kiyosaki’s new book Second Chance Get any free audiobook & 30-day free trial at AudibleTrial.com/GetRichEducation Join the GRE Facebook Pag

#25: There aren’t many famous real estate investors. There’s Barbara Corcoran, Donald Trump, Ted Turner, and today’s guest…Ken McElroy. Listen to this week’s show and learn: 02:00  Keith cannot think of a greater contributor to real estate investing education this generation than Ken McElroy. 04:04  Last month, Robert Kiyosaki, Ken, and Keith were in the same room when Robert dubbed Ken McElroy “The Greatest Real Estate Investor In The World Today.” 05:08  Ken began in real estate as a Seattle property manager. 08:12  RE agents often don’t own investment real estate and they try to “sell buyers on the future.” Instead, use a Property Manager to find what rents really will be.   11:30  Buy investment real estate for cash flow rather than capital gains. 13:23  “Real estate is really dumb and it moves slow.” Buy where the jobs are going to be. 15:40  How Ken looks for opportunity in a new purchase. 16:50  When Ken would want to buy a vacant four-plex rather than an occupied one. 20:18  Actionable ways to add val

#24: On the brink of homelessness, J. Massey pulled himself up. He became a master of raising private capital for deals without using any of his own money – because he didn’t have any. In fact, he’s amassed a fortune and has still never used a bank for a real estate loan. Listen to this week’s show and learn: 00:56  People’s worst financial trade of their life is one that they keep making every week. 06:07  J. and his wife’s touching story and rise from nowhere. They had to sell items on eBay to pay monthly utility bills.   13:04  By the time J. owned 117 houses, how others responded. 14:40  Real estate “wholesaling” is where J. first gained traction. 17:22  Today, “raising private capital” is the skill that J. helps others with to obtain wealth. 23:14  Raising private capital from others. 27:01  How does a beginner start to raise private capital from others? Details at CashFlowDiary.com/MoneyTool 31:20  How much time and what character traits are needed to raise private capital?   Resources mentioned: CashFl

#23: John Lee Dumas, likely the world’s best-known podcaster, joins us today. John has grown the popular Entrepreneur On Fire podcast to generate several million dollars of revenue every year. Listen to this week’s show and learn: 02:31  Keith is on a mission to turn more “nobodies” into “somebody” than anybody. 04:10  A great tip for those that manage their own investment properties. 05:15  Keith is picky with whom he has on the show, and why he arranges episodes in a certain order to best serve you. 07:09  Why Get Rich Education chooses to release episodes on Fridays. 07:51  The Get Rich Education podcast is a money loser. Keith opens up with how he feels about podcasting. 11:21  The importance of relationships. Attend events in-person. 12:32  John Lee Dumas has pushed the limits of the podcasting frontier and helps others start podcasting with Podcasters Paradise. 15:31  John Lee Dumas makes his debut on Get Rich Education. 18:25  Why John began podcasting and how he does a show 7 days a week! 23:25  When

#22: Jay Hartley, Director Of Investments at Classic Property Management in Arlington, TX acquires, leases, and manages property in the Dallas-Fort Worth (DFW) metro. They’re often newer-built brick single-family rental homes. Listen to this week’s show and learn: 03:14  Why Keith lives in Anchorage, Alaska. 06:03  Comparing Memphis, TN and Dallas-Fort Worth, TX real estate investor markets. 08:12  A quick determination of how a property can provide you with monthly cash flow. 13:44  DFW’s “sweet spot” for investment properties is between $130,000 and $170,000. 15:26  How Jay advises you about higher Texas property taxes. 18:15  The character of your tenant and occupancy rate in this market. 27:35  Property Manager interview role-play with Jay Hartley. 32:54  How Classic Property Management screens tenants. 38:26  Classic’s fee structure, monthly reporting, and how they pay you your cash flow. 41:20  Jay wants to interview prospective investors to see if they’re a good fit for Classic. 42:04  Bonus: Listeners

#21: Get Rich Education is about you. In a personal episode, this turns around and you learn more about your host, Keith Weinhold. You also discover Anchorage, Alaska’s real estate market, economy, and great quality of life. Listen to this week’s show and learn: 02:06  The parenting influence that Keith grew up in helped foster an abundance mentality. It wasn’t wealth. 04:58  Keith spent a year living in a swimming pool maintenance hut. 08:00  Moving from Pennsylvania to Anchorage, Alaska. 09:10  The time and money lies people tell themselves. 11:53  You cannot buy happiness. You live happiness. 14:10  The first property Keith ever bought was an Anchorage four-plex building. 18:10  The secret is this: “There is no secret.” 22:12  You can be a fountain or be a drain. 23:23  Anchorage, Alaska and its real estate market. 26:15  Alaska’s #1 economic driver is oil, making it one of the wealthiest US states. North America’s largest oil field is in Alaska. 27:50  Anchorage has the 2nd-busiest cargo airport in the Un

#20: Vocabulary is integral to advancing your investor life. It attracts the right people so that you can form the right relationships. Learn how these terms are defined in a clear way, used in an example, and how you might use them in a sentence. Listen to this week’s show and learn: 02:28  Keith discusses New York City. 06:55  How you pull yourself up from middle class. 09:28  Being the best version of yourself. Vocabulary Terms: 10:44  Accredited Investor. 13:08  Appraisal. 15:30  Assessment. 16:35  Capex (Capital Expenditure). 17:33  Capital Gain, Capital Gains Tax. 20:08  1031 (Tax-Deferred) Exchange. 23:12  Debt Service. 23:48  Mortgage. 25:06  Rate Hike. 29:12  Rent Control. 30:07  ROTI.   Resources mentioned:  Investopedia.com Investor.gov Janet Yellen MidSouthHomeBuyers.com Rent Control laws by state Get a free audiobook & 30-day free trial at AudibleTrial.com/GetRichEducation Join the Facebook Page at Facebook.com/GetRichEducation Now on Twitter! @GetRichEd

#19: Benjamin Franklin said, “In this world, nothing can be said to be certain except death and taxes.” Has today’s guest, Rich Dad Advisor Tom Wheelwright, CPA, turned that upside down with his popular book, Tax-Free Wealth? Tom’s firm could help you permanently reduce your taxes, like he has done for Keith. That’s like a risk-free return. Listen to this week’s show and learn: 03:30  Michael Jordan had coaches and teammates. To grow large, you’ll eventually need them too. 06:25  Over the course of your life, your greatest financial expense will be taxes. 11:43  This is the largest new tax change for real estate investors since the 1980s. 15:07  How to save tens of thousands in taxes with a Cost Segregation. 22:20  The “magic” of depreciation. 29:31  Why you should pay zero tax on your real estate – no capital gains tax and no tax on your cash flow. 32:35  Why not to use your IRA to invest in real estate. 35:55  The tax benefits of oil & gas direct investing vs. oil & gas stock investing.   Resources