Podcast appearances and mentions of Freddie Mac

In this jam-packed episode, Matty A and Ryan Breedwell break down the Fed's latest interest rate predictions and what Wall Street's betting on for the back half of 2025. They cover the booming stock market, Trump's bold tariff plays and their real economic impact, and why Bitcoin may be taking a back seat to Ethereum in the crypto space. Plus, they tackle the big, beautiful bill moving through Congress, how crypto is now being counted toward real estate lending, and the looming ripple effects for investors and small business owners alike.If you want to understand the direction of markets, inflation, and crypto regulation—and what it all means for your portfolio—this is a must-listen.Timestamps: 00:00 – Fed outlook: rate pause in July, first cut likely in September 02:00 – Why aggressive rate cuts might backfire 04:00 – Powell's balancing act & political pressure 06:00 – Trump's massive global interest rate comparison 08:00 – Breakdown of tariff revenue & impacts on inflation11:00 – Domestic production shift = long-term economic win 13:00 – Real estate + stock market synergy = true wealth15:00 – "Big Beautiful Bill" clears Senate – what it means 17:00 – Tax cuts on tips, small biz wins, W2 vs corp benefits 19:00 – Why omnibus bills suck & how politicians weaponize them 22:00 – Elon vs Trump, Massey vs establishment – a brewing primary battle 24:00 – Cutting spending vs driving more economic growth 25:00 – Pat Bet-David's take on capitalism and state policy 27:00 – California business exodus: policy fallout 28:00 – S&P and Nasdaq hit all-time highs—why the market's surging 30:00 – Domestic equities: overlooked and underweighted31:00 – Oracle & Palantir: why they're leading the charge33:00 – Bitcoin vs Ethereum: Ryan's strong stance 36:00 – Tom Lee's Ethereum fund strategy vs MicroStrategy's Bitcoin bet 39:00 – Fannie Mae & Freddie Mac greenlight crypto as mortgage asset 42:00 – Crypto's bridge to real estate just got real 43:00 – Housing updates: mortgage rates dip, multifamily struggles 44:30 – Why the second half of 2025 looks bullish 45:00 – Napa Wealth Mastermind Announcement – Sept 23–26 47:00 – Eddie Murphy wisdom: stop fearing, start livingWhat You'll Learn:When the Fed is most likely to start cutting rates—and why it mattersHow Trump's tariffs are actually impacting inflation, GDP, and tradeWhy tariffs may spark a resurgence in U.S. manufacturing jobsThe truth behind omnibus bills and political manipulationWhy Ethereum may be the smart long-term crypto bet over BitcoinHow crypto is now playing a real role in real estate lending decisionsNotable Quotes:“Tariffs have worked out very well—and the critics are now backpedaling hard.” – Matty A“If Tom Lee is choosing Ethereum over Bitcoin, that tells you everything you need to know.” – Ryan Breedwell“It's time people stop fearing, and start living. You get 75 summers—don't waste them.” – Eddie Murphy (via Holy Man)“This bill fuels capitalism, not kills it—and that's why the market loves it.” – Matty ACalls to Action:Text “XRAY” to 844.447.1555 to get your portfolio reviewed Text “DEALS” to 844.447.1555 to get access to top investment opportunities Follow @officialmattya on Instagram for daily wealth-building content Visit: Shop.MillionaireMindcast.com – Wealth-building resources & gearWant In On Our Private Napa Mastermind? Text “NAPA” to 844.447.1555 to apply for the 2025 Wealth Builder Experience Only 15 seats available — 6 already claimed! Episode Sponsored By:Discover Financial Millionaire Mindcast Shop: Buy the Rich Life Planner and Get the Wealth-Building Bundle for FREE! Visit: https://shop.millionairemindcast.com/CRE MASTERMIND: Visit myfirst50k.com and submit your application to join!FREE CRE Crash Course: Text “FREE” to 844-447-1555

Jason discussed concerns about Federal Reserve chair Jerome Powell's leadership and the current state of the housing market, including analysis of historical relationships between housing supply and economic downturns. He explored various market conditions, including the impact of interest rates, inventory levels, and differences between single-family and multifamily housing markets. The discussion concluded with insights into current real estate market challenges and opportunities, along with information about available resources and contact options for listeners. #JeromePowell #BillPE #FHFA #CongressInvestigation #Fed #InterestRates #HousingMarket #HousingShortage #EconomicDownturn #NewHomesForSale #ResaleMarket #LockInEffect #PentUpHousingDemand #LowInventory #MarketAppreciation #BuyerMarket #SellerMarket #BuilderConcerns #PopulationGrowth   Key Takeaways: 1:29 Call to investigate Jerome Powell 4:50 No one is paying attention 11:50 Sponsor: https://www.monetary-metals.com/Hartman  21:26 Dramatic population increase 25:00 Buyer sensitivity 27:45 Fannie Mae and Freddie Mac: delinquency rates decrease in May 29:52 Check out JasonHartman.com/Ai or 1-800- HARTMAN OR (714) 820-4200 EXT. 2   Follow Jason on TWITTER, INSTAGRAM & LINKEDIN Twitter.com/JasonHartmanROI Instagram.com/jasonhartman1/ Linkedin.com/in/jasonhartmaninvestor/ Call our Investment Counselors at: 1-800-HARTMAN (US) or visit: https://www.jasonhartman.com/ Free Class:  Easily get up to $250,000 in funding for real estate, business or anything else: http://JasonHartman.com/Fund CYA Protect Your Assets, Save Taxes & Estate Planning: http://JasonHartman.com/Protect Get wholesale real estate deals for investment or build a great business – Free Course: https://www.jasonhartman.com/deals Special Offer from Ron LeGrand: https://JasonHartman.com/Ron Free Mini-Book on Pandemic Investing: https://www.PandemicInvesting.com  

Vincent Daniel and Porter Collins to discuss a range of financial topics. They cover the state of the energy sector, financial markets, specific investment opportunities like Fannie Mae, Freddie Mac, Sable Offshore, and Pure Cycle Technologies. They delve into macroeconomic factors influencing the market such as volatility, geopolitical events, and the Federal Reserve's policies. Discussions also include the rising relevance of AI and uranium, insights into bottom-up investing, short selling, and specific stocks like Tesla, Mr. Cooper, and BGC. The episode explores the impact of economic changes on the consumer credit market, the potential for housing market shifts, and the influence of stablecoins on Visa and MasterCard. Checkout "On The Tape with Danny Moses" YouTube: http://youtu.be/dHkDOnKEOvw Apple: http://apple.co/3Dkf9ZE Spotify: http://tinyurl.com/2b9yb8r5 — FOLLOW US YouTube: @RiskReversalMedia Instagram: @riskreversalmedia Twitter: @RiskReversal LinkedIn: RiskReversal Media

In this episode of The Ethics Experts, Nick welcomes Michael Levin.Michael Levin has a proven track-record of developing strategies and tactics for reducing compliance and ethics risks and has designed best-practice compliance programs for more than 100 companies.Michael spent 10+ years overseeing Compliance and Ethics at Freddie Mac, leading a team of compliance professionals and corporate investigators, and setting the strategy to manage and mitigate Ethics, Culture and Conduct risk across the enterprise. This includes the Compliance Helpline, the Code of Conduct, employee trading controls, corporate investigations, and enterprise risk and compliance training. Levin was the founder of and also served as Secretary of Freddie Mac's Conduct Risk Committee.Connect with Michael on LinkedIn: https://www.linkedin.com/in/michael-levin-0a958a1/

In this week's Friday Five, NLW unpacks a major shift in crypto policy: Fannie Mae and Freddie Mac have been ordered to treat crypto as mortgage-worthy assets—a milestone in crypto's integration into mainstream finance. He also covers BIS's takedown of stablecoins, the surge in Bitcoin dominance, Texas' new Bitcoin reserve law, and the emerging wave of tokenized stocks and private equity offerings. From macro stabilization to tokenization trends, this episode maps where crypto's financialization cycle is heading next. Brought to you by: Grayscale offers more than 20 different crypto investment products. Explore the full suite at grayscale.com. Invest in your share of the future. Investing involves risk and possible loss of principal. To learn more, visit ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Grayscale.com⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ -- ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.grayscale.com//?utm_source=blockworks&utm_medium=paid-other&utm_campaign=brand&utm_id=&utm_term=&utm_content=audio-thebreakdown)⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Enjoying this content? SUBSCRIBE to the Podcast: https://pod.link/1438693620 Watch on YouTube: https://www.youtube.com/@TheBreakdownBW Subscribe to the newsletter: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://blockworks.co/newsletter/thebreakdown⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Join the discussion: https://discord.gg/VrKRrfKCz8 Follow on Twitter: NLW: https://twitter.com/nlw Breakdown: https://twitter.com/BreakdownBW

For this week's Bitcoin Season 2 Writer's Room, a news roundup that includes some terrible advice from the gigachad himself, and why bitcoin may soon count as an asset when you apply for a mortgage. You're listening to Bitcoin Season 2. Subscribe to the newsletter, trusted by over 16,000 Bitcoiners: https://newsletter.blockspacemedia.comWelcome back to Bitcoin Season 2! Today, Charlie and Colin break down Michael Saylor's Bitcoin Prague keynote where he tells people to leverage it all for bitcoin - including borrowing from family members (what could go wrong?). Plus, the FHFA's directive ordering Fannie Mae and Freddie Mac to recognize crypto as legitimate assets for mortgages, a new Bitcoin stablecoin launch, and the weird on-chain "clocking in" game that's creating the only regular fees on Bitcoin right now.NOTES:• Bitcoin trading at $107,000-$108,000• Michael Saylor's BTC Prague Keynote: Debt for BTC• FHFA order for recognition of crypto as an asset for mortgages• Transaction fees only 2 sats per byte • Tether market cap at $157 billion• Crypto market cap over $3 trillion total• Bitcoin market cap over $2 trillion• People clocking in 30+ days straightTimestamps:00:00 Start02:10 Saylor says leverage = good11:37 Bill Putle BTC as loan backing20:18 Stablecoins on BTC29:16 Make sure you clock in!-

Send us a textAbout This EpisodeWhat happens when you are the only one like you in the room? In this episode, media and communications expert Angela Chee shares how she turned that experience into her superpower and how you can too. From betting on herself despite uncertainty to landing her dream job in Los Angeles, Angela's journey is a masterclass in bold decision-making, reframing fear, and creating your own path when others cannot see it. She dives into the five principles from her book The Power of the Only, owning your opportunity, power, voice, communication, and future, while challenging limiting labels like “imposter syndrome.” Whether you are holding back due to perfectionism or struggling with capacity, Angela's insights offer clarity, compassion, and practical tools to help you protect your energy, own your unique voice, and boldly step into what is next. About Angela CheeAngela Chee is a keynote speaker, emcee, media and communication coach, podcast host, and author of The Power Of The Only—Own Your Voice, Thrive In Any Environment. She helps people Own Your Only™ and be YOU, Amplified!®—empowering them to be clear, confident, and connected on-camera and off and step into their full imagined potential. She believes being “The Only” is not a weakness; it is your greatest strength.A former TV news anchor and reporter with more than 20 years of media experience, Angela has worked with top stations including KCBS-TV and KNBC-TV in Los Angeles, and Fox 6 and KNSD-TV in San Diego. She has hosted shows for networks such as E! Entertainment and HGTV, and helped launch Entertainment Tonight China. She was the media mentor and expert on Lifetime's The Pop Game, and made a variety of appearances from The Today Show to the film Blades of Glory.Her speaking career began at age 15, when she became the first Asian American woman to win the title of Miss California National Teenager. Today, Angela emcees events, delivers keynotes, and leads corporate training for companies such as Microsoft, Cisco, Intel, JPMorgan Chase, Freddie Mac, and more. Her topics include leadership, communication, women's empowerment, diversity, and media. Through one-on-one coaching, group workshops, and online programs, she helps clients break through barriers, own their voice and power, and step into their leadership. Additional ResourcesWeb: AngelaChee.comInstagram: @AngelaCheeTVYouTube: @AngelaCheeTVLinkedIn: @AngelaCheeSupport the show-------- Stay Connected www.leighburgess.com Watch the episodes on YouTube Follow Leigh on Instagram: @theleighaburgess Follow Leigh on LinkedIn: @LeighBurgess Sign up for Leigh's bold newsletter

This week, David and guest co-host Tom Schmidt (Dragonfly) unpack a deceptively quiet crypto market with Bitcoin dominance hitting 66% and altcoins eerily still. What meta could flip the trend? They dive into Circle's explosive 10x IPO, Robinhood's surprise crypto surge, and why Coinbase is finally catching up. Plus: the Kalshi vs. Polymarket drama, ICOs creeping back, and how meme coins might soon help you get a mortgage. Also: Vitalik's Layer 1 pivot, prediction markets heating up, and signs of a new retail cycle forming. Tom Schmidt & Chopping Block https://x.com/tomhschmidt https://x.com/_choppingblock https://x.com/dragonfly_xyz ------

A sweeping look at crypto's mainstream march. From Fannie Mae and Freddie Mac counting crypto toward mortgage applications to the SEC signaling ETF redemption upgrades and SoFi relaunching crypto services, today's episode is packed with updates showing how deeply digital assets are integrating with traditional finance. Plus, Republic's controversial plan to tokenize SpaceX equity raises big questions about the future of private markets on-chain. Brought to you by: Grayscale offers more than 20 different crypto investment products. Explore the full suite at grayscale.com. Invest in your share of the future. Investing involves risk and possible loss of principal. To learn more, visit ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Grayscale.com⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ -- ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.grayscale.com//?utm_source=blockworks&utm_medium=paid-other&utm_campaign=brand&utm_id=&utm_term=&utm_content=audio-thebreakdown)⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Enjoying this content? SUBSCRIBE to the Podcast: https://pod.link/1438693620 Watch on YouTube: https://www.youtube.com/@TheBreakdownBW Subscribe to the newsletter: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://blockworks.co/newsletter/thebreakdown⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Join the discussion: https://discord.gg/VrKRrfKCz8 Follow on Twitter: NLW: https://twitter.com/nlw Breakdown: https://twitter.com/BreakdownBW

In this special episode of Swan Signal Live, the team bids a heartfelt farewell to longtime host Steven Lubka as he steps away from his regular role. Steven reflects on nearly five transformative years at Swan, building Swan Private and helping onboard thousands of high-net-worth individuals into Bitcoin. Emotions run high as the crew reminisces on shared experiences and growth.The discussion then dives into major Bitcoin developments:Bitcoin in Mortgages: The FHFA is reportedly guiding Fannie Mae and Freddie Mac to recognize Bitcoin as an asset in mortgage underwriting — a shift that could help Bitcoiners qualify more easily without having to sell their holdings.Texas Bitcoin Treasury: Texas becomes the first U.S. state to establish a Bitcoin reserve, allocating $10M in a move widely seen as symbolic but historic.Bitcoin Treasury Companies: The hosts dissect the growing trend of public companies accumulating Bitcoin on their balance sheets, discussing the implications for decentralization, nationalization risks, regulatory arbitrage, and Bitcoin's long-term monetization.ECB's Capital Control Signals: A concerning ECB statement hints at encouraging — or even mandating — retail savings be redirected into government-prioritized capital markets.Institutional Adoption: Billionaire hedge fund manager Philippe Laffont's recent CNBC confession that he regrets not buying Bitcoin sparks a broader conversation about how major allocators are waking up late — but surely — to Bitcoin's potential.Notable Quote:“This is what it looks like when the world really wakes up to Bitcoin” — Steven Lubka Swan Private helps HNWI, companies, trusts, and other entities go beyond legacy finance with BItcoin. Learn more at swan.com/private. Put Bitcoin into your IRA and own your future. Check out swan.com/ira.Swan Vault makes advanced Bitcoin security simple. Learn more at swan.com/vault.

On today's show we are reporting on a change to financing rules in the US that stand to improve the numbers for multi family apartment projects. We are talking about the HUD financing. This is more difficult financing to get than agency debt like Fannie Mae or Freddie Mac. But it is superior financing. There are several different loan types. I'm going to focus on the HUD 223F loan, but everything I'm about to say also applies to the HUD 221D4 which is a construction loan combined with a permanent loan. The reason we are talking about it now is the result of a new policy change is part of a new announcement .Under the existing rules you can save up to 0.35% on your annual MIP with the Green MIP Reduction program for HUD 223(f) loans. This also applies to new construction loans like the 221d4.  The policy change eliminates the distinction for Green loans and normalizes the mortgage insurance premium at 0.25% for all multi-family loans. This reduction in rate means that all other things being equal, you could borrow 4% more in loan principal for the same monthly loan payment. -------------**Real Estate Espresso Podcast:** Spotify: [The Real Estate Espresso Podcast](https://open.spotify.com/show/3GvtwRmTq4r3es8cbw8jW0?si=c75ea506a6694ef1)   iTunes: [The Real Estate Espresso Podcast](https://podcasts.apple.com/ca/podcast/the-real-estate-espresso-podcast/id1340482613)   Website: [www.victorjm.com](http://www.victorjm.com)   LinkedIn: [Victor Menasce](http://www.linkedin.com/in/vmenasce)   YouTube: [The Real Estate Espresso Podcast](http://www.youtube.com/@victorjmenasce6734)   Facebook: [www.facebook.com/realestateespresso](http://www.facebook.com/realestateespresso)   Email: [podcast@victorjm.com](mailto:podcast@victorjm.com)  **Y Street Capital:** Website: [www.ystreetcapital.com](http://www.ystreetcapital.com)   Facebook: [www.facebook.com/YStreetCapital](https://www.facebook.com/YStreetCapital)   Instagram: [@ystreetcapital](http://www.instagram.com/ystreetcapital)  

Crypto News: The US Government Fannie Mae and Freddie Mac to prepare their businesses to count cryptocurrency as an asset for a mortgage. Robinhood CEO Vlad Tenev says crypto will replace traditional finance.Show Sponsor - ✅ VeChain is a versatile enterprise-grade L1 smart contract platform https://www.vechain.org/ 

Today's headlines: GameStop raises another $450M for BTC buying powerTether CEO Paolo Ardoino tells The Block that firm 'will become the biggest bitcoin miner' by the end of 2025.The state of California issued its first fine under new crypto law, fining Coinme $300,000The U.S. Director of Federal Housing, William J. Pulte, has ordered Fannie Mae and Freddie Mac to prepare their businesses to count cryptocurrency as an asset for a mortgage.The Justice Department has filed for seizure of more than $225.3 million in cryptocurrency stolen from Americans in confidence schemes and scams run out of Vietnam and the Philippines. Mentioned today: Finematics Youtube channel for DeFi videos: https://www.youtube.com/@Finematics/videosMatt's New Political Substack:[Link coming]Friends of the ShowC3The C3 team has more than 20 years of experience in journalism, including leading the editorial and content side of a major Web3 news publication. They are also experienced AI and Web3 PR professionals, regularly placing content in leading web3 and AI publications. C3's members previously co-founded the PR department at SCRIB3, and have experience with clients such as EigenLayer, VanEck, Monad, SKALE Network, LEVR Bet, Symmio, Camp Network, Evmos, Avail, Moonbeam, and others.WHERE TO FIND DCNdailycryptonews.nethttps://twitter.com/DCNDailyCryptoEMAIL or FOLLOW the HostsQuileEmail: kyle@dailycryptonews.netX: @CryptoQuile Hosted on Acast. See acast.com/privacy for more information.

Bit Digital shifts its focus to Ethereum staking. f(x) Protocol introduces sPOSITIONs. And the FHFA directs Fannie Mae and Freddie Mac to consider crypto assets. Read more: https://ethdaily.io/728 Disclaimer: Content is for informational purposes only, not endorsement or investment advice. The accuracy of information is not guaranteed.

Bitcoin daalde deze week tot onder de $100.000 maar maakte daarna een mooie sprong terug naar $108.000. In de marktupdate legt Bert uit wat dat betekent. Daarnaast hebben we het over de vragen van luisteraars en de avonturen van Bart in Praag. Wat vond hij van de talks van Jack Mallers en Michael Saylor? Peter heeft een bookmark gevonden waarin een Amerikaanse ambtenaar het heeft over een ‘accumulation plan'. Als laatste hebben we natuurlijk bullish nieuws: Texas heeft een SBR en bitcoin mag misschien dienen als onderpand voor een hypotheek in de VS.Probeer Bitcoin Alpha 2 weken gratis!Satoshi Radio wordt mede mogelijk gemaakt door: Amdax, Watson Law, HVK Stevens en onze hoofdsponsor Bitvavo.Timestamps(00:00:00) Welkom en Podcast Introductie(00:05:00) Bitcoin Praag: Jack Mallers zijn verhaal over 1971(00:26:00) Bookmark van Peter(00:32:00) Stablecoins: vloek of zegen?(00:42:00) Is bitcoin democratisch?(00:46:00) Is het verdwijnen van cash een symptoom van een verschuiving in het economisch stelsel?(00:49:30) Bookmark van Bert: het regent MICA vergunningen(01:07:00) De Bitkey hardware wallet: is het wat?(01:15:00) Bookmark van Peter: Bitcoin Hashrate drops 29%, coinciding with

Nvidia hits new all-time high and NATO members pledge to boost defence spending to 5% of GDP. The EUR/USD currency pair briefly surpasses 1.17 on a report that US president Trump wants to nominate a new Fed chair as early as September. The US Federal Housing Finance Agency is exploring ways to let Fannie Mae and Freddie Mac consider crypto holdings in mortgage approvals. Carsten Menke, Head of Next Generation Research, notes gold is undergoing a short-term mood-driven consolidation. Nicolas Jordan, CIO Investment Analysis, identifies the gold uptrend and USD downtrend as the most pronounced price patterns in the first half of 2025.(00:00) - Introduction: Bernadette Anderko, Investment Writing (00:34) - Markets wrap-up: Mike Rauber, Investment Writing (05:59) - Gold update: Carsten Menke, Head of Next Generation Research (10:05) - Update from the CIO Office: Nicolas Jordan, CIO Investment Analysis (14:09) - Closing remarks: Bernadette Anderko, Investment Writing Would you like to support this show? Please leave us a review and star rating on Apple Podcasts, Spotify or wherever you get your podcasts.

Welcome to The Chrisman Commentary, your go-to daily mortgage news podcast, where industry insights meet expert analysis. Hosted by Robbie Chrisman, this podcast delivers the latest updates on mortgage rates, capital markets, and the forces shaping the housing finance landscape. Whether you're a seasoned professional or just looking to stay informed, you'll get clear, concise breakdowns of market trends and economic shifts that impact the mortgage world.In today's episode, we go through how oil prices and thus inflation and thus mortgage rates are being impacted by geopolitics in the Middle East. Plus, Robbie sits down with Polunsky Beitel Green's Marty Green discuss why Fannie Mae and Freddie Mac's exit from conservatorship must be carefully structured to preserve market stability, and protect borrowers, lenders, and the broader economy. And we close with a look at what is driving demand at short-duration Treasury auctions.Thank you to Optimal Blue. Optimal Blue bridges the primary and secondary mortgage markets to deliver the industry's only end-to-end capital markets platform, helping lenders maximize profitability and operate efficiently so they can help American borrowers achieve the dream of homeownership. 

Vincent Daniel and Porter Collins to discuss a range of financial topics. They cover the state of the energy sector, financial markets, specific investment opportunities like Fannie Mae, Freddie Mac, Sable Offshore, and Pure Cycle Technologies. They delve into macroeconomic factors influencing the market such as volatility, geopolitical events, and the Federal Reserve's policies. Discussions also include the rising relevance of AI and uranium, insights into bottom-up investing, short selling, and specific stocks like Tesla, Mr. Cooper, and BGC. The episode explores the impact of economic changes on the consumer credit market, the potential for housing market shifts, and the influence of stablecoins on Visa and MasterCard. --ABOUT THE SHOWFor decades, Danny has seen it all on Wall Street and has built his reputation on integrity, curiosity and skepticism that he will bring with him each week. Having traded through the Great Financial Crisis and being featured in "The Big Short" is only part of the experiences Danny wants to share with the listener. This weekly podcast cuts through market noise, offering entertaining and informative discussions with expert guests giving their views of the financial world and the human side of it. Whether you're a seasoned investor or just getting started, On The Tape provides something for all listeners. Follow Danny on X: @dmoses34 The financial opinions expressed are for information purposes only. The opinions expressed by the hosts and participants are not an attempt to influence specific trading behavior, investments, or strategies. Past performance does not necessarily predict future outcomes. No specific results or profits are assured when relying on this content. Before making any investment or trade, evaluate its suitability for your circumstances and consider consulting your own financial or investment advisor. The financial products discussed in 'On The Tape' carry a high level of risk and may not be appropriate for many investors. If you have uncertainties, it's advisable to seek professional advice. Remember that trading involves a risk to your capital, so only invest money that you can afford to lose. Derivatives are not suitable for all investors and involve the risk of losing more than the amount originally deposited and any profit you might have made. This communication is not a recommendation or offer to buy, sell or retain any specific investment or service.

As a property manager, have you ever worked with foreign investors? If not, what is stopping you? Is it because you don't know another language or because you don't know where to find foreign investors? What if there were a service that handled that piece for you? In this episode of the #DoorGrowShow, property management growth expert Jason Hull sits down with the founder of HomeAbroad and Ziffy to talk about how property managers can connect with investors living outside of the United States.  You'll Learn [01:49] Building a Platform that Helps Foreign Investors Find Properties  [08:21] Helping Investors in the U.S. Find Investment Properties  [14:46] How HomeAbroad and Ziffy Can Benefit Property Managers  [25:23] Using Real Estate Investing and Property Management to Move to the U.S.  Quotables “No one wants to be a landlord… They're looking for a good way to maximize return on their investment or return on their cash.” “If you are a smart investor, if you are running this as a business, right, you got to have property management.” “You can't build a portfolio of a hundred properties by managing each property yourself.” “You grow together. It's a small industry, you know, we got to help each other and we grow as a business together.” Resources DoorGrow and Scale Mastermind DoorGrow Academy DoorGrow on YouTube DoorGrowClub DoorGrowLive Transcript [00:00:00] Client finds the property through a platform. We do the mortgage financing, so we will introduce the property manager at the right time and say, "Hey, by the way, you can find the right property manager to help you manage this property, so, we'll kind of introduce you in the right point in that journey to make sure that you have a high conversion as well.  [00:00:20] All right, I'm Jason Hull, the founder and CEO of DoorGrow, the world's leading and most comprehensive coaching and consulting firm for long-term residential property management entrepreneurs. For over a decade and a half, we have brought innovative strategies and optimization to the property management industry. At DoorGrow, we have spoken to thousands of property management business owners, coached, consulted, and cleaned up hundreds of businesses, helping them add doors, improve pricing, increase profit, simplify operations, and build and replace teams. We are like Bar Rescue for property managers. We have rebranded over 300 businesses and we run the leading property management mastermind with more video testimonials and reviews than any other coach or consultant in the industry. [00:01:06] And if you are wanting help with any of that stuff, then reach out to us at DoorGrow. So we believe at DoorGrow that good property managers can change the world, and that property management is the ultimate high trust gateway to real estate deals, relationships, and residual income. At DoorGrow, we are on a mission to transform property management business owners and their businesses. [00:01:28] We want to transform the industry, eliminate the bs, build awareness, change perception, expand the market, and help the best property management entrepreneurs win.  [00:01:38] Now let's get into the show. All right, so my guest today, I am hanging out with Amresh Singh, welcome to the DoorGrow Show.  [00:01:46] Thanks, Jason. Thanks for having me. Appreciate it.  [00:01:49] It's good to have you. So I would love to get into your background so people understand, like who are they listening to or viewing on this, and tell us a little bit about your journey into entrepreneurism and how you kind of got started and that will lead us into your business. [00:02:04] Awesome. So my background has been at the intersection of mortgages and technology. I used to work for a leading international bank before I started HomeAbroad. And originally I'm from India, so I moved to the US 10 years back, working for this big bank who moved me from India to the US to work closer to the headquarters over here. [00:02:25] I managed their international customer acquisition. And you know, in that journey, you know, I realized that two things that we have. Or I should say two really fascinating things about the US real estate market, which is, you know, 30 year fixed state mortgages, which we, in the US you know, we tend to ignore and we take it for granted. [00:02:45] It does not exist in most places around the world. It's a superpower, 30 year fixed state mortgages. Right? Yeah. Plus combine that with, you know, higher rental leads in the US market. You know, you're really looking at a true wealth building too. Right? So that realization coming from, you know, an international market into the US market, seeing the superpower of the, you know, how real estate in the US can really help you build generational wealth. You know, gave me the idea to start HomeAbroad, you know, which was a company that was focused on global investors investing in USD asset market, right? You know, and taking the advantages of, you know, some of these superpowers, I will speak later in your podcast. [00:03:24] Right? But that's how the journey started. And then, you know, as part of that journey, we realized, you know, some similar gaps exist in the domestic market as well that led to formation of Ziffy, which I'll talk about as well as we progress in the podcast. So that's kind of in nutshell, my know, my entrepreneur journey, my background, so.  [00:03:40] Very cool. I've noticed, you know, every now and then I get clients that they've got some special connection to an international market. You know, I've got a client from Israel and he's able to pull in Israeli investors and they're wanting to get into the US market, and he helps them handle all of that. [00:03:56] I had a client that same thing with China you know, and other different foreign countries, you know, and so that's a competitive advantage that each of these property management business owners have, but it's not one that every property manager can just create because they don't know a different language. [00:04:14] They don't have a network or connections overseas, and so that could be a challenge. But I see how that could be a competitive advantage for building up your own portfolio if you could access international investors. And I didn't really realize that, but I just grew up in this bubble of the US but 30 year fixed rate mortgages sounds so normal. You know? Yes. So, okay. So cool. So, so tell us a little bit about what you've got going on.  [00:04:40] Yeah, so, you know, as I mentioned, you know, we operate two brands. HomeAbroad is where we started, right? And that's a shop, that's a PropTech and FinTech shop that's focused on helping global investors invest in the US real estate market. [00:04:52] Right? If you think about, you know, real estate, right? It's kind of, you know, wealth building tool or is a mode of, you know, building generational wealth around the world. People invest in real estate for stability, right? For, you know, that that ease of mind, okay my investment is going to grow, right? [00:05:08] But you know, in most places around the world when you're investing in real estate, you're not doing that with leverage. You know, you are buying that in cash and you are, you know, mode for return on that investment is really banking on the capital appreciation on that property, right? What changes in the US market is because of 30 year fixed rate mortgages, there's no payment shock. [00:05:28] The rate is fixed for the term of the loan. That's 30 years. Since it's amortized for a 30 year period, your monthly payments are lower, right? Rental liens are higher. So what ends up happening in the US market is rent covers mortgage in majority of the scenario. [00:05:44] Yeah. It cash flows day one. Absolutely right. And that is something. So think about it, right? So you are generating cash flow from day one with leverage. I'll repeat that with leverage, right? So 20-25% of your money is able to help you buy a hundred percent of the property with cash flow or passive income from day one. [00:06:05] It just does not happen in most places around the world. Now imagine this: you explain this to someone who has no idea about the US state market, right? And then you tell them, Hey, not only you know the value prop, but as a company HomeAbroad, we are going to give you mortgage financing with no US state history. [00:06:25] Right. And we are going to underwrite you not based on your personal income or assets from your home country. We are going to look at the property's income, right? And we're going to underwrite based on that, right? Suddenly someone who has no affiliation with the US, you know, market or financial market is able to invest or buy US real estate for the obvious benefits I mentioned, right? [00:06:49] Cash flow with leverage, but also you're putting your money in the largest economy in the world. USD is still the reserve currency, right? So you're shielding yourself from currency risk that's might exist in your home country, right? And suddenly when you explain this to a global investor, it's an aha moment for them, right? [00:07:04] Because this is something that does not exist in their home market. You know, they want to, you know, kind of diversify their assets and dip into what US has to offer this kind of opening American dream to the world. Yeah. Without them having to live or work in the US. You can live and work in your home country and dip into what America or American dream has to offer, you know, while you sit in your home country. Right. And that's kind of what was a game changing phenomena for us. Great traction, great, you know, reserves. But what we saw, Jason, you know, these people were coming in and we're like, okay, great. I want to invest in USA asset market. But I don't know where to invest. [00:07:40] Right. I don't know the US market, I don't know which city to invest in. Right. And my team, you know, we found ourselves going onto Zillow doing investment analysis and coming back to them and saying, "okay, this is a good place to invest." And then we said, "okay, wait a minute. Let's just build a tech platform, and that's what led the evolution of Ziffy, which is kind of, you know, Zillow for investment properties, ziffy.ai, where you know, as an investor you can kind of just say, okay, this is my investment objective. [00:08:05] I want to generate X dollar cash flow every month. I want to generate Y percent in rental. I want to find all the rent properties. And the algorithm mines everything that is listed on MLS right now from an investment perspective gives you detailed investment analysis and helps you take the data driven recommendation. [00:08:21] And then we realized only 8% of Americans own investment properties. If it's such a good thing that global investors want to put their money in the USA market, why Americans are not building generational wealth by investing in real estate. Right? Because people don't want to be a landlord, right? [00:08:37] Right. But once you put this data in front of them, suddenly the perspective changes. And that's what we are right now. We are launching ziffy.ai where it's going to be the Zillow for investment properties to really help more Americans buy and invest in US real estate.  [00:08:50] Okay, great. And what's that tool called? [00:08:52] It's Ziffy, Z-I-F-F-Y, dot A-I.  [00:08:56] ziffy.ai. Okay. And you mentioned the big other z name Zillow, you're like, you're trying to take their lunch, I guess. Right? We'll see how...  [00:09:06] not really. Thing about it, zillow is focused on primary market, right? Yeah. It's a much bigger market. Right. And, you know, investment, of course, 16% of the transactions are investment properties. [00:09:17] Right. But having said that, it's a huge market and there's lot of, you know, scope for growth because a lot of Americans still, you know, what they don't know about is there are specialized loan products that exist, you know, that can underwrite based on the rental income of the property. [00:09:32] So if I have a mortgage, I have a car loan, I think, okay, there's no way I can buy investment property. No one's going to give me a loan. I'm going to walk in my local bank or my local branch, and they're going to say, "okay, Jason, you know, what's your current mortgage? What's your car loan? Oh, you don't qualify based on your debt to income ratio." [00:09:49] They don't know that this specialized loan product called DSCR loan, which is debt service coverage ratio loan, where I'm qualifying you for the mortgage based on the rental income of that property versus your personal income. Right. So suddenly now you can build portfolio of hundred of investment properties because each property qualifies based on its own merit. [00:10:11] You buy one investment property, right? Rent covers mortgage from day one generates you cash flow. You wait three, four years, you gain equity in the property, do a cash out refinance, take that money to put down payment on other property. That property is cash positive from day one and the cycle repeats. [00:10:27] So if you're a smart investor can really help that first investment property, help you build a portfolio of investment property over 10 to 15 year period and build that generational wealth for you and your family. And people just don't know about it. And that's what we're trying to democratize.  [00:10:41] All right. [00:10:41] I love the idea. You know, we've leveraged a DSCR loan and it's nice because you don't have to give them all your personal info. You know, it doesn't matter how much debt you already have leveraged with properties you already have. So the rates are a little bit higher. [00:10:55] Right. But if you're able to cash flow it effectively, then I guess it doesn't matter.  [00:11:01] It doesn't matter. But also, I'll tell you, Jason, it's not that much higher either. No. If you think about an investment property loan from Freddie Mac or Fannie Mae conventional loans the rates are going to be higher than what you're going to pay for a 30 year fix it mortgage for a primary home. [00:11:14] Right. If you compare an investment property loan from an, from the jcs versus a DSCR loan, the rate difference you're talking about is 0.25%, or, you know, like, so it's not, it's very competitive.  [00:11:28] So. A lot of the people listening run property management companies. They've got a pool of investors. [00:11:33] These are their clients. How do they leverage  [00:11:37] HomeAbroad or Ziffy? That's a great question. Right? So we are also opening a marketplace for property managers, right? Because think about these foreign clients that are coming over to us, right? Think about domestic clients, right? A lot of these clients, you know, no one wants to be a landlord, as I mentioned earlier, right? [00:11:52] They're looking for a good way to maximize return on their investment or return on their cash. Right. And they don't want to take the day-to-day hassle of being a landlord. Right. Right. That's where property management comes in. Right. And if you are a smart investor, if you are running this as a business, right, you got to have property management. That's what we tell our clients. You can't build a portfolio of a hundred properties by managing each property yourself. You got to get property management in, right? Yeah. And what we are doing is we are trying to, you know, open up a marketplace where, you know, foreign investors, of course, they have no idea about whom to work at in the US so they can connect to property managers in the US through a platform. [00:12:31] Right. But in addition. If you're a property manager and if you have clients who are looking for next investment and so forth, you can white label our Ziffy platform for your clients. Right, okay. To give them as your own tool. And if they come back to us, you know, for a mortgage, we give you a referral fee. [00:12:50] You know X, we give up to 40 to 50 basis point on the loan amount as their referral fee. So that could be not only you're servicing your clients, you're giving them tools to help them find their next investment, which by the way, you will end up managing as well. But you're also increasing your value prop by helping your client find the next investment and adding additional revenue stream to your overall portfolio, right? [00:13:12] So it's a win-win situation for everyone.  [00:13:15] So becomes absolutely profit center. Okay, so. And they can white label Ziffy. What about is the Ziffy and HomeAbroad databases, are these linked? Like, are these properties, because you know, I think a lot of property managers listening are like, "how can I get access to these foreign investors because I don't have that capability?" [00:13:32] They're linked. It's just the branding, right? Because for foreign investors, you know, we go with the brand name HomeAbroad, okay? And for domestic, of course, you know, HomeAbroad will not resonate with the US based customers, right? So that's where Ziffy comes in. And we are kind of actually actively going through a rebranding exercise where HomeAbroad will become powered by ziffy.ai. [00:13:52] You know, so at the end of the day, Ziffy is the overall umbrella brand, right? Ziffy.ai is our AI powered investment property search platform and HomeAbroad is the portion of Ziffy that's focused exclusively on foreign investors. But if you're part of our network, you get access to both clients, you get access to foreign investors, you get access to local investors. [00:14:13] Okay, perfect. So it sounds like property managers, if they're listed in this marketplace, it sounds like 1. You might be feeding them some free business from. Absolutely. HomeAbroad brand. Yep. They wouldn't be able to access otherwise. And they're able to support boots on the ground helping with the property locally. [00:14:32] Yep.  [00:14:33] And then they can also leverage Ziffy and do a white label thing for their existing clients and help get them and facilitate getting them into more property.  [00:14:41] Absolutely. Yep.  [00:14:42] Awesome. Okay, cool. Yeah that's very cool. So how does a property manager get into this marketplace?  [00:14:49] What are your qualifications? [00:14:51] So we of course, want to make sure that our clients are taken care of, you know, so we do initial vetting, just to understand, you know, you have the I would say capabilities and infrastructure to help service our clients. So everyone has a good positive experience, right? And then once we kind of have that initial meeting to vet you out, you will become part of our network. [00:15:10] We'll sign a good partnership agreement. You'll be part of the network and then, you know, you'll be listed prominently. If the customer is looking in that particular area, you know, you'll be listed prominently within that ecosystem. Now, good news is we are vertically integrated shop, right? [00:15:24] So client finds the property through a platform. We do the mortgage financing, right? And you know, we know exactly when the customer, you know, is closing that transaction, right? So we will introduce the property manager at the right time. There's no point introducing a property manager right when they're starting their journey to find an investment property, right? [00:15:42] But as soon as they close on that transaction, we'll introduce the property manager. We will expose our, you know, marketplace to them and say, "Hey, by the way, you can find the right property manager to help you manage this property from our vacant property management, based in say, Phoenix, Arizona, or say, you know, Dallas, Texas, like wherever the client is, you know, closing that transaction. [00:16:03] Right. So, we'll kind of introduce you in the right you know, point in that journey to make sure that, you know, you have a high conversion as well.  [00:16:11] So how do you, at Ziffy and HomeAbroad, how do you determine which markets you want to be in and focus on?  [00:16:21] So the cool thing, Jason, you know, like as the customer decides for us, right? [00:16:24] We are operating in 43 states, right out of 50 states in the US right now, right there are of course hot markets, right? But you know, we let our algorithm, because now, it's data, right? We know the data. We know what's the expected rent, which is our for algorithm to calculate the expected rent across every plus property listed on the MLS right now for sale. What's your monthly mortgage payment is going to be? We are the mortgage shop. So we know what the monthly mortgage payment is going to be. Yeah. Rent minus mortgage is your cashflow. Right? So you can basically punch in those numbers and you say, okay, I want to generate $500 in cashflow every month. [00:16:59] Show me properties in entire us. Show me properties in Midwest us. Show me properties in California. Show me properties in Texas. Right? Whatever is your appetite, right? But you can kind of, you know, find that right investment property with right investment objective, you know, and I would say market agnostic. [00:17:16] Right? Yeah. Find that property and then say, okay, yeah, this makes sense, this doesn't make sense. And what we are adding to our AI layer. You can ask AI question, show me population growth trend in this area in the last five years. Show me rent you know, growth in this area in the last five years. [00:17:30] Show me you know, is this a landlord friendly state? You know, like our AI will help you basically California, evaluate that property.  [00:17:36] So basically, California's out. Florida and Texas are in, or?  [00:17:40] Yep. Yep. And that's what we see. That's what we see. You know, Florida and Texas are two hot markets. Yeah. [00:17:45] Midwest is really picking up, you know, because the property prices are lower, taxes are lower, rents are higher, right? So Midwest US is the new hot market from a rental standpoint Okay. Is what we are seeing a lot of fixed and player opportunities as well. But Florida and Texas continue to be two hot states, you know, from a rental property standpoint. [00:18:03] Got it. Okay. Now, these people that are, you know that they're global investors. They're around, you know, around the world. They're watching the news, they're seeing all this stuff that's going on in the us. I don't know what their perception is, but when they're watching all this, I'm sure that factors into their decision making in which states they want to be in. [00:18:23] Absolutely a hundred percent.  [00:18:25] So they're like, it does, I don't want to be in California. They look like they're crazy there and they're watching the news and they're seeing these, you know, sanctuary cities with homeless people everywhere. And then they're like looking at like areas where it's more conservative and there's like more freedom and more options. [00:18:41] Then they're like, maybe, maybe there. So perception, I would imagine affects where they're choosing to invest as well.  [00:18:49] Yeah, it totally does. Right? And what we tell our clients, you know, you got to think of real estate as a long-term investment game, right? For example, you know, the rhetoric around current administration, right? [00:19:00] From global investor standpoint, you know, like, do I really want to put my money in the US at this point? You know, what happens if like X happens? Y happens, right? And what we tell our investor, right? The basics why US, you know, is a good market for real estate investment has not changed, will not change, right? [00:19:15] It's going to be still remain a good market for US estate investment. The question is, where do you invest, right? And what are your objectives, right? You want to invest in a landlord friendly state, right? You want to invest in, in states with, you know, job growth, population growth, right? And you want to invest in state you know, in a market where you're getting good ROI on your cash investor, right? [00:19:36] And that's a function of, you know, appreciation and function of cash flow, right? That you're generating. Right. So until you have those data points figured out, right, you know, in long term it's going to be a viable investment. Right. And you're going to make money, right? Is what we tell our investors, right? [00:19:51] And when we explain them from that perspective, from that lens, you know, I have not seen someone that has said, okay, USDS investment is off my list. Right? Is something that just still motivates and drives them.  [00:20:04] Very cool. All right. I like it. And the best property managers, they're DoorGrow clients, like we help them figure out how to actually do a good job. [00:20:10] Most property managers suck in most markets. This is... absolutely, yeah. The admission of property managers, they're like, I get a room of property managers. I'm like, how many of you believe all your competitors suck or most of them do? And everyone's hands go up. And everybody that comes to me and says, "Hey, I'm thinking of starting a property management business." [00:20:27] I say, cool. And they tell me their story. It's they have investment properties and they tried property managers and most of them were terrible and they decided to finally start a good company. And so there's this issue. So yeah, maybe we should get all the DoorGrow clients getting into your marketplace. [00:20:43] So  [00:20:43] A hundred percent, you know. Let's talk about that a hundred percent.  [00:20:46] Alright, cool. Have you heard a Blanket, have you heard of these guys? Not really. So I think I should connect you to Lior over at Blanket. They've got a really cool platform as well, and I think there's some synergy. [00:20:59] They're basically like a retention platform. Okay. For property managers. They were one of our sponsors at DoorGrow live. And they've created a platform that allows their clients to see all of... they're basically a white label portal for all their clients to have their portfolios. And it allows them to keep the properties in their portfolio by helping them find and access other owners when that owner wants to sell. [00:21:25] Awesome. Okay. I think there'd be some awesome synergy between these two tools. Yeah. And I'm always making connections. You guys don't see this, those that are watching the podcast behind the scenes, I'm always trying to connect different vendors to each other when I see some synergy. So, but I think that might be a cool connection. [00:21:40] So, because I think what you're doing would work really nicely with that and it'd be a really cool synergistic thing. So we'll just get HomeAbroad, Ziffy, Blanket, DoorGrow, and then some other vendors, we'll just start stacking, we'll create Voltron. Yep. This ultimate, you know, superpower to help.  [00:21:57] This very exciting. [00:21:58] Hey you grow together. You know, that's how I've always believed. You know, you grow together. It's a small industry, you know, we got to help each other and we grow as a business together.  [00:22:06] Yeah, absolutely. So, well, I like what you're doing. What's the easiest way for a property manager to reach out? [00:22:14] Which of the websites should they go to? How do they start getting vetted so they can get into this marketplace? And is this like a free thing because they're providing value or do they pay to become part of the marketplace or how does that work?  [00:22:27] It's a free thing, right? They will be listed on a platform for free. [00:22:31] So it's a two way street, as I mentioned here, right? So we are going to pay a referral fee to our property manager partners, when they refer clients over to us, we're going to give them free tools to help facilitate that process and vice versa. You know, we'll collect a referral fee if our existing client signs up with them as well. [00:22:47] You know, it's a revenue stream for us too.  [00:22:48] So if let's say I have one of those clients that has, a bunch of connections in a particular country like Israel or China or something like this, would there be an advantage to them to leveraging HomeAbroad to facilitate that rather than having to figure out all this work themselves? [00:23:05] Absolutely. Absolutely. Because we are, as I said, you know, we are one stop shop, right? So say for example, you have an Israeli client that is just thinking about investing in US real estate, right? So what we do, we start. From setting up the LLC, right? If you are US based, you know, setting up an LLC, receiving an EIN is pretty easy, straightforward process, right? [00:23:23] If you're a foreign national who has doesn't have an SSN or an IT number, just getting an EIN number from a IRS, you know, you're talking about faxing, you're talking about mailing, you're talking about six months, six to eight weeks to get, you know, your number in mail. Now, you know, we kind of have developed that expertise in this segment so we can get an EIN and with an analysis set for a foreign national not living in the US within a week. Right. Wow. We can help them open a US bank account while they're in their home country. Right. Of course, you know, we'll need the US Bank account as part of the mortgage process, but also they will need a US bank account to manage their property, right. [00:23:58] When they invest in the US market, right? We can, of course, financing for Foreign National, which is our bread and butter, right? So we help them with 75% LTV or 75% leverage to purchase an investment property in the US. So they only need to put 25% down payment on that investment property, as I mentioned, we don't look for any US history. [00:24:18] We don't look for trade lines or create history from their home country as well. It's a pretty straightforward process for foreign nationals. You know, all we are looking for is, you know, they have enough assets to close, which is 25% down payment plus closing costs. Right? And if the appraisal comes in right where we want it to be, right. [00:24:36] So whether they meet the ratio or the DSCR ratio where rent covers mortgage, right? Even if it does not, we have a sub ratio DSCR program for them. So one way or the other. You know, we'll be able to do the loan just based on the property's income versus considering their personal income or assets in their home country. [00:24:52] Right? So we covered them right from helping setting up an LLC you know, opening US bank account mortgage financing, connecting them with a local realtor, which is not just any realtor, but a realtor with CIPS, which is certified International Property Specialty Designation by now. Right. So they have gone through specialized training to work with foreign national, global investors, right? [00:25:13] And then property management connections, you know, through a marketplace, right? So we are kind of one stop shop for everything that foreign national would need to do to invest in the US real estate.  [00:25:23] Interesting. So here's another random idea that comes up. And I don't know if this even relates, maybe this is just completely out of left field, but occasionally I get clients that they've come from a foreign country to the US. [00:25:36] And in order to, you know, to immigrate and to become integrated in the US, they have to start a business. And so they will buy a franchise sometimes, which usually in this industry, buying a property major franchise, I'm pretty outspoken about that. I think it's generally a bad idea. I get a lot of franchisees coming to me that have struggled like, you know, a gal that came, bought into a franchise, she's already invested $100k into this and the franchise gave her poor strategy and she only has one unit under management and she's $100k in and over half a year in invested into this. And she's like, you know, concerned and freaking out. I've got another client, he's immigrated from the uk. [00:26:16] He's built a property management business. They both built their business in Florida, by the way. Nice. So the land of freedom and humidity. So is there some sort of advantage for some of these people that are overseas also? They're like, "you know what? I like the idea of investing in, you know, the US but I want to be in the US." [00:26:37] Is there a way that they could build a business leveraging this and could that be something that is facilitated as well?  [00:26:45] Yeah, that's a great question, Jason. You know, and something like a lot of, you know, foreign clients ask us, right? So I'll give you a two part answer to this question, right? [00:26:52] One, if you are part of E3D countries, right? So US has a E3D, you know, with I think UK, Japan you know, Australia, Canada, and the few other countries on that list, right? Yeah. So if you're part of one of these countries where the, where you have a E3D you know, with the US you get a visa called E2 Visa. [00:27:12] E2 Visa, where, you know, where you can start a business in the us, get that visa to come manage the business. And a lot of our clients in from these countries would start up LLC to manage two to three properties. Show that okay, they're managing a real estate business. Right. To kind of get that E2 visa, right? [00:27:29] And so it's a great way for them to not only build you know, a profitable business in the US right? And kind of benefit from the US estate investment, but then also, you know, try get a residency visa, you know, based on this business. Property management kind of falls under the same aspect as well. [00:27:46] Okay? Then other countries which are not part of the E3D, where you have something called an EV5 Visa, which is you know, which were one of the key differences is that you have to show that you generate 10 employments and invested at least around a million dollars in the US to generate those employments. [00:28:03] Now that is where, you know, it becomes a little bit trickier, right? Because you know, you have to show that you brought that money in, you putting that money in real estate qualifies. Right. But the the important aspect is creation of 10 jobs. You have to show that you've created 10 jobs through that investment, you know, for that purposes. [00:28:21] If you buy, you know, like 10 properties or buy a multifamily unit and you know, you have a property management around it that employs 10 people to take care of it, technically it qualifies. Right. You can also you know, buy a hotel, you know, buy 2 commercial property that employs, you know, 10 people to kind of, you know, to qualify on the, that, that visa rule. [00:28:44] Right? But again, you know, you're talking about a million dollar investment. You know, from your end, you know, which is not, you know, applicable for everyone, right? Yeah. So there are a couple of ways, right? But for E2 Visa, you know, it becomes really easy, right? Because that job requirement criteria is not there. [00:28:59] You have to show that it's a functional business. It's an active business, which could be a real estate business, right? And it becomes, the qualification becomes a little bit easier on from that perspective.  [00:29:09] Got it. Okay. Interesting. If you run into these people, we should totally be homies and... [00:29:15] absolutely. [00:29:15] If you run these people one of the things we're really brilliant at DoorGrow is helping people avoid all the mistakes they make when they get their business started. We help them clean. We're like bar rescue for property managers, as I said in the intro. And for startups, we're ideal. [00:29:29] We help them avoid all the pitfalls of the franchises. We help them come up with their own brand, their own website. We help them build out their hiring process. We help them make sure they get good people, like we help optimize the business and get the right systems and installed. And so we really are like the ultimate franchise alternative. [00:29:46] And I've just gotten tired of seeing the franchises hurting people. And so my mission. Is to get people to sign up with DoorGrow instead of going to these franchises and set ourselves up as a franchise alternative because we can help them get going with a lot less cash involved and a lot more help. [00:30:05] And and then we can help them give them real strategies for growing their portfolios. And it sounds like this might be a really nice addition to any of my client's strategies for growth is to leverage HomeAbroad because they would love to have people that are hands off. Yeah. In another country trusting you to just take care of stuff that, that's a easy, no-brainer type of client they would love to have. [00:30:25] Yeah, absolutely. Jason, and we should talk after this podcast. We'll talk, you know, this. I think there's a lot of synergies.  [00:30:31] Okay. Very cool. So, well, what else should property managers or investors listen to the show know about HomeAbroad or Ziffy that we haven't covered? Or what questions do people tend to ask that they're concerned about? [00:30:45] Yeah, I think, you know, one of the things, you know, that we also advise our clients, right? You know, it's not about, you know, property management eating into my cash flow, right? Because that's something that we see, you know, people concerned about, or people you know, like want to kind of, you know, want to do it by themselves because they want to make sure they maximize their cash flow, right? [00:31:05] But what we tell our clients, you know, at the end of the day, you got to think of it as a business, right? And what's your net return and how do you value your time? Right. What's the hourly rate that you assign to yourself, right? And what would else you'd be doing if you're not managing five properties on your own? [00:31:21] Right? That's an opportunity cost, right? So think about this more from an opportunity cost standpoint versus, you know, okay, it's eating into my cashflow because that opportunity cost can help you buy five more properties, right? That can, you know, overall amplify your return on your cash invested versus nickel and diming, you know, the money that you're trying to save, right? [00:31:42] And you know, when we kind of, you know, talk to them about your, their ROI return cash, we want them to kind of consider this as an expense that goes into it. Because at the end of the day, even though we are not the property management providers, right, we partner with your clients, so to speak, Jason, right? [00:31:58] We are trying to do what's in best interest of that client in order to build that real estate investment portfolio. Right. So that's something that, you know, just want to reiterate to you, to the listeners of your podcast. Right. Why partner with us? You know, because that's something that we inherently, you know, advise our clients, you know, and we position property management as one of the pillars, they need to really succeed to build a successful real estate investment portfolio. [00:32:22] So you kind of insulate, because I know there's some property managers listening and they're like, man, some of these foreign investors are such cheapos. They're like so cheap and they complain about everything and they're really difficult. You kind of insulate them from that. Yep. With your organization and you know, and property management really, yeah. It is a no brainer. I mean, there's a lot of properties that a lot of these investors on their own probably wouldn't even accurately raise rent. And so if they didn't raise rent over the last two to three years, for example, they're probably 10% below market rate anyway. And so if the property manager just kept rent where it actually is in the marketplace, the property management basically is free. [00:33:01] Yeah, it pays for itself. Hundred percent. It's a no brainer. And so, yeah, I think the biggest mistake investors can make period, if you're an investor listening to the show, is to not use a property manager, a good one. Because there are bad ones. But if you can find a good one, that is the biggest game changer because it takes all the work off your plate and you make just as much money. [00:33:22] Absolutely. And another thing for your listeners, Jason, right. You'd be surprised how few people know about the specialized loan products for DSCA investor, right? So if your client is with you managing one property and is thinking in my head, oh, I already have a mortgage in my primary, I have another investment property here. [00:33:38] No way in the world I can buy another investment property. It's an education gap. It's a knowledge gap, right? Yeah. So they can help educate and that's where like and HomeAbroad comes in. because we will educate them on your behalf. You know, you retain the relationship, you retain your brand, right? We'll white label it, but like not only show them properties that will give them their next cashflow investment. [00:33:58] But also educating them, okay, for this loan to qualify, I don't need to see your debt to income ratio. I'm going to qualify based on that property's income. And you know, the only upfront cost is an appraisal cost, right? But us being the mortgage shop, you know, vetting that, okay, this property gives you cash flow, or from a conservative standpoint, it's good for you at the end of the day because you know, you won't invest if the property is not cashflow policy from day one, right? [00:34:24] So something that people don't know, you know, and there's a gap there.  [00:34:27] Yeah, we've had some lenders on talking about DSCR loans in the past, and yeah, a lot of people just aren't aware of it as an option. Yeah. So property managers, if they can have a partner like yourself to, you know, educate them on these alternate sources of funding and methods of getting cash to invest in real estate. [00:34:46] Yeah, it's going to open up the door. Not only that, but I like the idea of those because it kind of creates this veil of protection. So it's not an asset in your name if there ever is a liability with the rental property. Absolutely. They don't even know who the owner is. It's an entity and there's kind of a shield there of protection. [00:35:05] And so there's some additional advantages to going that route as well.  [00:35:09] So, absolutely. And like majority of our clients request the title in an LLC. What's the reason that you just mentioned you always need to have that, you know, protection around you in a litigation rich country, so. [00:35:21] Got it. Cool.  [00:35:22] Well, hey, I think this is a really awesome idea Amresh. It's great to have you on the DoorGrow Show. Any parting words or how can people get in touch and how can they find out more?  [00:35:32] Sure. You know, so if you're a property management company, you can get them in touch with us at partner@homeabroadinc.com or partner@ziffy.ai. [00:35:42] You know, my personal email address is amresh.singh@homeabroadinc.com. You can shoot me an email as well. Website is HomeAbroadinc.com for HomeAbroad and Ziffy.ai for our Ziffy brand. Okay.  [00:35:56] Awesome. Alright, thanks so much for coming to the show. So those of you listening, if you've ever felt stuck or stagnant, you want to take your property management business to the next level, reach out to us at doorgrow.com. [00:36:07] Also, be sure to join our free community just for property management business owners at doorgrowclub.com. We reject 60 to 70% of the people that apply to join that group. And if you found this even a little bit helpful, don't forget to subscribe. Leave us a review. We'd really appreciate it. Until next time, remember, the slowest path to growth is to do it all alone, so let's grow together. [00:36:30] Bye everyone.

This is a busy time for food banks — without school breakfast and lunch programs, more families lean on them. But between millions of dollars slashed from the USDA budget and heightened deportation fears, it's a tougher-than-usual summer. In this episode, we visit Texas food banks with a simple goal: keep kids from going hungry. Plus, Trump wants to privatize Fannie Mae and Freddie Mac, the cost of basic baby items is up 24% since new tariffs were imposed, and retail sales fell in May.Every story has an economic angle. Want some in your inbox? Subscribe to our daily or weekly newsletter.Marketplace is more than a radio show. Check out our original reporting and financial literacy content at marketplace.org — and consider making an investment in our future.

This is a busy time for food banks — without school breakfast and lunch programs, more families lean on them. But between millions of dollars slashed from the USDA budget and heightened deportation fears, it's a tougher-than-usual summer. In this episode, we visit Texas food banks with a simple goal: keep kids from going hungry. Plus, Trump wants to privatize Fannie Mae and Freddie Mac, the cost of basic baby items is up 24% since new tariffs were imposed, and retail sales fell in May.Every story has an economic angle. Want some in your inbox? Subscribe to our daily or weekly newsletter.Marketplace is more than a radio show. Check out our original reporting and financial literacy content at marketplace.org — and consider making an investment in our future.

In this solo episode of Money Moves, Matty A. dives into the explosive Trump vs. Musk feud and unpack what really sparked their public fallout—from spending bills to government contracts and even Epstein allegations. We also break down the controversial "Big Beautiful Bill" and its implications on America's fiscal health, as well as powerful commentary from voices like Thomas Massie.But that's not all—we're covering:The California riots and Gavin Newsom's political blame gameU.S.-China tariff updatesFed chair rumors and rate cut speculationSurging crypto markets and bullish Bitcoin predictionsFannie Mae & Freddie Mac privatization chatterThe state of real estate and the million-plus housing inventory milestoneThis episode is a rollercoaster of politics, policy, protest, and personal finance. Tune in for hot takes, real data, and insights that cut through the noise.Episode Sponsored By:Discover Financial Millionaire Mindcast Shop: Buy the Rich Life Planner and Get the Wealth-Building Bundle for FREE! Visit: https://shop.millionairemindcast.com/CRE MASTERMIND: Visit myfirst50k.com and submit your application to join!FREE CRE Crash Course: Text “FREE” to 844-447-1555

Chris Whalen, chairman of Whalen Global Advisors and author of The Institutional Risk Analyst blog and author of "Inflated: Money, Debt and the American Dream," returns to the show with a monthly update on markets and the economy.Sponsors: Monetary Metals. https://monetary-metals.com/julia Kalshi: https://kalshi.com/juliaIn this episode, Whalen argues the Fed's easy money era is over, with no rate cuts coming this year and traditional monetary policy failing to help Main Street. He warns of a "silent subprime crisis" brewing in multifamily real estate and sees stagflation ahead - low growth with persistent inflation eating away at real purchasing power. Whalen advocates for gold as protection against currency debasement and explains why recession odds have dropped to 27% despite structural economic challenges from commercial real estate to student loan repayments as pandemic-era programs wind down.Links:    Twitter/X: https://twitter.com/rcwhalen    Website: https://www.rcwhalen.com/    The Institutional Risk Analyst: https://www.theinstitutionalriskanalyst.com/   Inflated book (2nd edition): https://www.barnesandnoble.com/w/inflated-r-christopher-whalen/1146303673Timestamps:00:10 - Introduction of Chris Whalen 02:11 - Big picture market outlook and elevated interest rates 04:30 - No rate cuts coming this year discussion 05:38 - Trump's "big beautiful bill" and Senate dynamics 06:17 - Fed balance sheet reduction and inflation persistence 08:02 - Silent subprime crisis in multifamily real estate 09:13 - Mixed bag stock market outlook explanation 10:42 - Recession probability13:20 - Real estate opportunities and putting deals together 14:04 - Jay Gould and Jim Fisk arbitrage between gold and paper 16:57 - Fed's 2% inflation policy and its impact on savers 18:20 - Gold as anti-dollar hedge discussion 19:38 - Fall of fiat and return to sound money debate 21:00 - Why dropping rates no longer stimulates Main Street 22:13 - Chris's proposal to freeze government spending 24:11 - Banking system fluff and lack of credit demand 25:46 - Real vs nominal growth and stagflation 27:43 - Fannie Mae and Freddie Mac conservatorship discussion 30:00 - Closing thoughts and where to find Chris's work

Keith Weinhold plays a “financial superhero”, defending investors against the "greedy landlord" myth. A Zillow survey reveals the secret sauce of rental success: budget, location, and bedroom count - with pets stealing the show as the ultimate tenant dealbreaker. He exposes the dollar's sneaky inflation plot, showing how savvy investors can turn borrowing into a wealth-building adventure. Imagine homes that cost half their gold price from 100 years ago - mind-blowing!  Real estate investing isn't just a strategy - it's an epic journey of wealth creation!  Resources: GREmarketplace.com/OklahomaCity GREmarketplace.com/Tulsa Show Notes: GetRichEducation.com/episode/557 For access to properties or free help with a GRE Investment Coach, start here: GREmarketplace.com GRE Free Investment Coaching: GREinvestmentcoach.com Get mortgage loans for investment property: RidgeLendingGroup.com or call 855-74-RIDGE  or e-mail: info@RidgeLendingGroup.com Invest with Freedom Family Investments.  You get paid first: Text FAMILY to 66866 Will you please leave a review for the show? I'd be grateful. Search “how to leave an Apple Podcasts review”  For advertising inquiries, visit: GetRichEducation.com/ad Best Financial Education: GetRichEducation.com Get our wealth-building newsletter free— text ‘GRE' to 66866 Our YouTube Channel: www.youtube.com/c/GetRichEducation Follow us on Instagram: @getricheducation Complete episode transcript:   Automatically Transcribed With Otter.ai    Keith Weinhold  0:01   Welcome to GRE I'm your host, Keith Weinhold. Are Real Estate Investors greedy by nature? Learn why? In a sense, today's homes are actually half price compared to 100 years ago. Then results from a huge tenant survey that reveals the amenities that you must give renters or else they will leave how media headlines can trick you and more today on get rich education.   Mid south home buyers, I mean, they're total pros, with over two decades as the nation's highest rated turnkey provider. Their empathetic property managers use your ROI as their North Star. So it's no wonder that smart investors just keep lining up to get their completely renovated income properties like it's the newest iPhone. They're headquartered in Memphis and have globally attractive cash flows and A plus rating with the Better Business Bureau and now over 5000 houses renovated. There's zero markup on maintenance. Let that sink in, and they average a 98.9% occupancy rate, while their average renter stays more than three and a half years. Every home they offer has brand new components, a bumper to bumper, one year warranty, new 30 year roofs. And wait for it, a high quality renter, remember that part and in an astounding price range, 100 to 180k I've personally toured their office and their properties in person in Memphis, get to know Mid South. Enjoy cash flow from day one. Start yourself right now at mid southhomebuyers.com that's mid south homebuyers.com   Corey Coates  1:56   You're listening to the show that has created more financial freedom than nearly any show in the world. This is get rich education.   Keith Weinhold  2:12   Welcome to GRE from Cape Hatteras, North Carolina to the Cape of Good Hope, South Africa and across 188 nations worldwide. I'm Keith Weinhold, and this is get rich education. 100 years ago, you could buy the average home with eight kilos of gold. Today, it only costs you four more on that later. But first, as a real estate investor, has a critic or a tenant ever insinuated some form of these two questions to you, either, is it ethical for you to own multiple homes, or even, are you greedy? Now, I doubt that you're going to be asked that question directly, but sometimes you can feel that that's the vibe that someone else is on. Well, there sure are greedy people in the world. You could be rich and greedy, or you could be poor and greedy. Even the definition of greed is an excessive and selfish desire for more wealth than one needs, often driven by a destructive motive. All right, that's the definition like you're willing to destroy other people in the pursuit of wealth that is rather different than acquiring wealth, which is usually done only when you first fulfill the needs of others. All right? Well, say that your critic makes $60,000 per year. Oh, well, then that means that they're in the top 1% of global income earners. I mean, sheesh, then they're like the Jeff Bezos of the developing world. So to help even things out, should your critic have to send half of their salary to Senegal or Mauritania or Burkina Faso if the critic's home has more than one bathroom in it, or they even own one car. Well, then they're fabulously wealthy by world standards. Then do they have to give it away to avoid being greedy? What if they ever worked overtime for extra money? Like is that evidence of certain greed? All that stuff is ridiculous, preposterous amounts don't create greed Spirit does. There is no implicit Machiavellian intent. If you have more wealth than average, where would you even draw the line? Like, once you hit seven rental properties? Oh, that's just fine, but eight of them is too many, or once you live in a home that costs 50% more than an area's median, then is that when it becomes greed? I mean, this doesn't make sense. Higher housing prices these past five years has to do with the lack of housing supply and with the. Abundance of dollar printing. It's those two things. The culprits aren't rental property owners. The culprits are burdensome development regulations and the Federal Reserve printing all the dollars, not your local landlord. Responsible landlords provide and maintain sound housing, and they do that for complete strangers, they're taking a lot of faith. Oh, so then could the tenant actually be the greedy one, if they both resent and expect that treatment from a stranger for free? I mean, real estate investors, hey, we take on risk, DEBT, TAXES, maintenance, insurance, market volatility, and we have the responsibility of building and maintaining a good credit score in most cases. I mean, you're the one that's truly invested in the property, not a tenant that can choose to move out in 30 or 60 days. Landlords are a bit like umpires. They're rarely appreciated, and they only get noticed when they do something wrong. I know I mentioned to you before that when I buy a property pretty soon, I casually mention to my tenant that, you know, each month, I just have to make them aware. Each month I make a big mortgage payment and I have to pay for property tax and insurance on this place. I mean, it's amazing to see how far that little mention goes with both timely rent collection and that they don't resent you as a landlord over time. See, tenants often don't know this because they've never owned property themselves, and actually, as you know, since I use property managers now, I don't make this mention to tenants anymore. See, to tenants often it can feel like they're just sort of renting air, and the rent payments they make to you are very visible to them. What's invisible to them are all of your expenses. You're the one as the investor that's contributing to communities. You are the good steward of a neighborhood's housing stock, and you provide homes for people who either can't or don't want to buy the myth of the evil landlord. It really just ignores realities. I mean, mom and pop investors own 72% of single family rental homes, and the typical landlord owns fewer than three units. Many don't have 401 Ks. I mean, rental properties are their retirement plan. So most landlords, real estate investors, they're not cigar chomping tycoons twirling mustaches atop piles of gold like Scrooge McDuck. They're regular people. So perspectives like this that can really help you ward off both critics and unaware tenants. And you know what odds are, if they had the opportunity, they would often do the same thing at a time when pensions are rare and inflation runs rampant. Who could blame anyone for seeking assets that grow in value and generate income. Here's what you need to know. Everyone plays the financial game in the context of their own economy. You Your critic and your tenant, your awareness and your mindset from listening to the show is merely more broad than others. If everyone understood that being wealthy is actually a choice like you do, we would all be better off. So the bottom line here is that real estate investors are not villains. They're just people trying to build a financial life raft in a financial ocean that is full of icebergs. Rich people aren't necessarily greedy, just like poor people aren't necessarily lazy. Greed exists in somebody's spirit, not in the amount of your net worth or whatever your income level is,.    All right., Well, heading into the summer here, there are more tenant moves than any other season. Rental demand has stayed fairly strong, not super strong, just fairly strong, with rents only up about 2% annually. When you amalgamate single family rentals and apartments, the share of rentals with a concession is dropping because the rental market is fairly strong, and when renters find a place, a lot of them are staying put, like it's the last lifeboat off the Titanic. Of course, these are all phenomena on a national level, and each local area is different. I mean that right, there is something that I could say on nearly every episode with low affordability, the home ownership rate is down and renter numbers are up. Now. I told you a while ago that it would go down that home ownership rate, and in the latest quarter ended, that home ownership rate has dropped from 65.7 down to 65.1 Percent. And that might not sound like much, but homeownership down six tenths of 1% in just a quarter. That means that there are at least about 500,000 new renters in America. More renters means more rental demand, more occupancy, and it's crucial for you to know what those renters want so that you can best serve them again. You're not greedy. You're trying to serve them as well as you can now, Zillow has an arm. It's called the Zillow group population science. It's something I hadn't even heard of until recently. What Zillow did with this group is they surveyed 36,000 US renters of both single family rentals and apartments to find out what trends are and what renters want. And I read their entire lengthy report. I think it was 40 pages, so that you don't have to and what I did is I pulled out the most salient pieces to help you attract and retain tenants, and the top three criteria that renters really consider essential when deciding whether or not to rent your property are the first thing, and 95% said this is that it's got To be within their budget, second, at 85% preferred location. Hmm, does that mean near tacos and coffee shops? And then the third most important thing renters consider essential at 84% is the preferred bedroom count. After that, the Floor Plan and the layout that fits their preferences was most important. After that, it's the preferred number of bathrooms. So note that the preferred number of bedrooms, then, is more important in making the rental decision than the preferred number of bathrooms, although they both matter. And then after that, in order of decreasing importance, is broadband internet, allowing pets and having common amenities like a gym, a business center, a rooftop and a lounge and those things, those common amenities, they were substantially more important for apartment renters than for single family home renters, as you would imagine. And here's key, a separate survey question was asked, What is the main reason that you passed on a particular property and decided not to rent it. Number one easily was that the property prohibited pets. The second biggest choice had to do with pets as well. It was that the property restricted the pet breed or size. The reasons that renters passed on a particular property are so centered around pets. What do pets rule this housing market? Now, that's kind of how it seems. Now, another thing that this survey revealed is like, gosh, it also seems like the age for doing almost anything in America is up. The median renter is age 42 did you have any idea there? 42 probably older than you thought. And the older people are, generally, the quieter they are, and the less they move. The most common application fee paid is $50 that's what the survey found. Hey, maybe that's one thing that hasn't been slapped with tariffs. It's an online world. The typical renter surveyed reported taking only one in person tour. Everything else is swiping, scrolling or going deep on Google Street View. Basically what tenants do is they check out everything online, and then once they've chosen the place that they want to rent, they often make that decision right there online, and then basically that one in person visit is just them showing up to confirm that there aren't any red flags at that place, that they mostly know that they won. And this is good for you if you're self managing and you're showing the places yourselves. I mean, there are just fewer tire kickers than there were back in the day. I mean, hey, talk to your parents. 25 years ago, rental ads were like four lines in a newspaper, no photos at all, so tenants then they had to show up in person to see what a rental place even looked like. Let's look at the percent of renter households in America by household income, less than $50,000 57% of renters were in that range, 50 to 100k 29% and 100k or more, 15% as far as how much security deposit you need to give, 75% of renters said their first month's rent was required to Secure the rental, and only 25% said that they also had to fork over last month's rent to secure it. In a really strong rental market, you can more often ask for that both first and last month's rent to get in. 40% reported getting their entire security deposit back at the end of the rental. Hmm, I guess the. Others pay for that mysterious carpet stain. Most pay additional fees on the rental, 58% and that's things like water, sewer, garbage, recycling or other utilities. And it even includes payment processing. There some landlords charge for that. And again, what I'm talking about here is single family rentals and apartments combined. All right, so more single family renters are going to pay for separate utilities on top of the rent. Of course, about half of American renters have renter's insurance. At 48% I suppose the others are living dangerously. A typical renter uses four websites or apps in their search and as I'm continuing on here with the results from this Zillow Rental survey of 36,000 renters, it also showed that the top three reasons that current renters say that they decide to stay long term are and this is big. I mean, this is about your retention rate. 72% stay long term because they say rental costs are a good deal, that's why they stay next most important is quiet neighbors. Yes, no drum kits or free range toddlers will help in apartments. One noisy neighbor can upset a lot of tenants, but a noisy neighbor that might not be a problem at all when people are dispersed in a single family rental and then the third most important thing in long term retention is 68% of renters stay in a unit because they can't afford to move elsewhere. Two thirds of tenants said their landlord or property manager notified them of a rent increase in the past two years, 37% of renters said they would be very or extremely likely to buy a home if mortgage rates fell. All right, that's about three in eight renters say that as far as the length of leases in America, 64% signed on for a one year lease, and 24% said their lease is longer than a year. So really, to summarize what you've learned here from that survey is that you need to know your audience, 42 year olds with pets and a strong preference for quiet neighbors. Keep your pricing competitive. Embrace tech. People want to apply and pay and do things online, and your tenants will stick around longer. You can either give a man a fish and feed him for a day, or teach a man to fish and feed him for a lifetime.    Here at GRE, we do both get riched occasion.com. Is where you learn through this very show and our videos over there, and our blog articles and more. The name gre marketplace.com is where you take action and see the markets and providers that make the best income properties nationwide. GRE marketplace is also where you get access to our totally free investment coaching strategy sessions with a real human being that has both an MBA and investing experience. And that's something we added three or four years ago that really helps you be profitable as an investor, get paid five ways so that you can have more income and wealth and perhaps even retire early. We help you find the right exact property addresses. That's what we help you do compared to 100 years ago, homes are half price today. This is fascinating. I'll get into that shortly. I'm Keith Weinhold. You're listening to get rich education.    The same place where I get my own mortgage loans is where you can get yours. Ridge lending group NMLS, 42056, they provided our listeners with more loans than anyone because they specialize in income properties. They help you build a long term plan for growing your real estate empire with leverage. Start your pre qual and even chat with President Caeli Ridge personally while it's on your mind, start at Ridge lendinggroup.com. That's Ridge lendinggroup.com. You know what's crazy?    Your bank is getting rich off of you. The average savings account pays less than 1% it's like laughable. Meanwhile, if your money isn't making at least 4% you're losing to inflation. That's why I started putting my own money into the FFI liquidity fund. It's super simple. Your cash can pull in up to 8% returns, and it compounds. It's not some high risk gamble like digital or AI stock trading. It's pretty low risk because they've got a 10 plus year track record of paying investors on time in full every time. I mean, I wouldn't be talking about it if I wasn't invested myself. You can invest as little as 25k and you keep earning until you decide you want your money back. No weird lockups or anything like that. So if you're like me and tired of your liquid funds, just say. They're doing nothing. Check it out. Text family to 66866, to learn about freedom. Family investments, liquidity fund again. Text family to66866   Speaker 1  20:17   what's up? Everyone? This is HGTV. Tarek al Musa. Listen to get rich education with Keith Weinhold, and don't quit your Daydream.   Keith Weinhold  20:35   Welcome back to get rich Education. I'm your host. Keith Weinhold, the headlines say homes are so expensive that you'd think millennials would be forced to live in IKEA showrooms. Now, a year or two ago, here on the show, I think I mentioned to you that at that time, it took eight kilos of gold to buy the average home, about 100 years ago, and at that time, only six. Well today, it took eight kilos of gold to buy an average home in 1920 but it's only four kilos now, in terms of gold, homes are half the price today, and I sent you that pretty shocking image showing this in our newsletter a month or two ago. So what in the monetary twilight zone has happened in the past 100 years? Well, a lot of things. The 1913 creation of the Federal Reserve inflated away your dollar's purchasing power over time. This was basically like giving your teen a credit card with no limit and hoping for the best, then removing the dollar's last link to gold redeemability in 1971 that freed the rains for unlimited dollar creation. And Robert Kiyosaki was here to discuss exactly that on the show with us on episode 358 go back and listen to episode 358 if you haven't heard it and you want to. Before long, dollars got so flimsy that dive bars started stapling them to the wall as decor, and it seems like the next stop for the dollar is kindling for your backyard fire pit. Now, there is, however, an affordability problem today that keeps renters staying as renters. But part of the calculus here is that homes only seem expensive because their values are usually compared to dollars. But that's faulty, because dollars are a moving measuring stick. This is like saying that an hour has 60 minutes in it this year and next year, it'll only have 55 minutes in it. That doesn't work. I mean, she should a few years, everyone would run a marathon in under an hour at that rate. Okay, so changing the measuring stick defeats the very purpose of a measuring stick. Here's what's even more amazing than that fact about the gold, despite that, homes only cost half as much today as they did in 1920 in terms of gold, you also get more home today. Today's homes have smaller lot sizes, smaller yards, but otherwise they have amenities that people couldn't have even dreamed of in 1920 I mean, this is really interesting. Let's compare a typical 1920 new home to a 2025 new home. We've gone from 1048 square feet up to 2411 so the size has more than doubled. Back then there was no Garage. Today you've got a heated garage. Back then you had one bathroom or even an outhouse in 1920 Oh, today you have two or three or even more indoor bathrooms in just the average new build home back in 1920 you had a wood burning stove that you had to keep loading, and you're like splitting and stacking firewood and storing that somewhere. Today, you have central heating. Just push a button. Back more than 100 years ago, you had no AC. Today, AC is completely standard. You had no insulation a lot of times in 1920 homes today you've got smart insulation. You used to have a very basic kitchen. Today you've got a center island and granite and quartz countertops. You had an ice box back in 1920 and a nice refrigerator or two. Today, back then, you had no dishwasher or garbage disposal. Today, you have both. Back in 1920 you had to use a washboard in a ringer to wash and dry your clothing. Can you imagine that today you have a washing machine? You had an outdoor clothesline back then today you have a dryer back in. 1920 you had these claw foot bathtubs, and often no shower. Today you have both bathtubs and showers, and several of them. Back then you had nothing where today you have a dedicated laundry room, and a lot of times a home office, and sometimes even a gym. I mean, so all those changes right there over the last 105 years. This really puts the exclamation point on the fact that homes are cheaper today. In terms of the value that you get, today's homes might be a third or a quarter of the price that they were a century ago. You can't point to mortgage rates either. They're still below their long run average of 7.7% per Freddie Mac the thing you've got to point to, the big problem here, the elephant in the room, is that salaries have not kept up with inflation, and that is the real crux of the problem in hurting homes affordability. Look, and this could be a real epiphany for you here that affordability fact is even more reason to move today's depreciating dollars into real assets and move that with emphasis and with urgency, dollar savers are just such massive losers. All right, so then, what is the opposite of saving dollars? Some people think it's spending dollars. No, the opposite of saving is not spending. It's borrowing dollars. That's how you go negative on that. The opposite of spending is not saving, it is borrowing. That is how you go negative and short the falling dollar. This really it's all just a fresh approach on what people need to consider doing. Borrow dollars, own income property, let tenants pay your debt, let inflation also shrink your debt like a cheap shirt that spends too much time in a clothing dryer, and just watch inflation pump up your asset price at the same time. Now you are just winning all over the place. You are racking up more wins than Novak Djokovic at the Australian Open. That's why I am resolute about saying what no one else out there says real estate done right is not an inflation hedge. A hedge is a defensive investing strategy where you break even. I mean, no one plays a game hoping for an outcome of a tie, spending money as an inflation hedge. That's why I refer to borrowing for income property as inflation profiting. That's the reason why. And see, other people's money pays down your debt, both the tenant and the inflation are whittling that away for you. Oh, and hey, for my fellow math weirdos, in 1920 a new home cost $6,300 and there are 35 ounces in a kilo of gold, and you can figure out the rest from there to see that homes cost half as much in gold. Now the bottom line here is that the real estate market is not broken. The dollar is and that dollar measuring stick is so miserably distorted and perverted that some people can't even see what's going on anymore. I've got another interesting way of helping you see this.    Let's look at something more recent than 1920 let's go back 30 years. Do you have any idea what the median us home price was then? Any guess 30 years ago, that's kind of charming. It was a modest $130,000 All right, with an 80% loan and zero principal pay down your mortgage balance would be a featherweight 104k today, that is a clear way of seeing how inflation debases your debt. And of course, the tenant would have paid it off for you by now as well. But I mean a loan balance of $104,000 without any principal pay down, sheesh, that's less than some people's American Express card limit. Really think about that by removing the principal pay down component, you can really see with transparency and lucidity the effect of inflation whittling down a loan balance to 104k and that is just 25% of today's median home price of $416,900 that is a stark example of inflation profiting, how your debt got relentlessly debased by the Fed. And of course, rental properties tend to be less expensive than this median number that I'm talking about. So the typical rental property is. In this scenario, you might just have a loan balance of 75k today, here, 30 years later, and the property would be worth, say, 300k inflation makes your loan balances feel like a featherweight over time. All right, now let's go somewhat further back in time again, 1950s Florida.    Last month, in our newsletter, I sent you those fascinating old newspaper clippings from a real estate sales ad from 1955 in the Miami area and a two bedroom, single family home, one bath, screened porch and a carport. Its price was $7,450 for the entire Miami area home. And the ad also showed that your monthly payment is $48 and then, okay, so that was a two bedroom, single family home this Miami area, three bed, one bath home with a screen porch, $7,900 so only an extra 450 bucks for an extra bedroom, that is the purchase price of the entire asset. And the monthly payments on this three bedroom are 50 bucks a month, a little more than the 48 bucks a month that it was for the two bedroom. And here's the thing, the monthly payment amount, as shown in this old newspaper advertisement, $48 and $50 that was principal, interest, taxes and insurance all together, a jaw dropping sub 8k for a Miami area home, not just Florida, but pricier Miami. I mean, can you imagine a Florida couple's home buying conversation in the mid 1950s there at Florida, honey, you're crazy if you think we're going to pay an extra $2 per month for a third bedroom. I mean, this is just astonishing. And yeah, my apologies for leaving you flabbergasted so many times in one episode. Gosh. Now to be sure, wages were lower back then, but back then, only one parent had to work. They still managed to buy homes, raise a family, and even pay for a milkman who actually delivered the milk. And now, you know, if we fast forward to the future, future generations, they're going to marvel at today's incredibly low median home price of 400 to 450k Yes, therefore you will be the one doing the flabbergasting, and you'll leave people From 2070 feeling abjectly flabbergasted when the median home price is $4 million then, I mean, it realistically could be, it could be more than that. It's the same way that today we're astonished at 1960s McDonald's menus where a burger was 15 cents. Yes, 15 cents is seriously how much McDonald's hamburger cost in the 60s. And of course, this is when restaurants also serve real meat and french fries cooked in tallow rather than seed oils, and shakes had real cream in them. That's all evidence of simultaneous skimpflation. But getting back to the monetary inflation, you know, as recently as 2011 we can even feel dazed and amazed about how the median home price, then was just $211,100 Yes, as recently as 2011 you're surely dazed and stupefied here, one thing I know, though, is that this did not leave you slack jawed, because Between you and I, we know there's only one slack job between us, and we know full well that that's not you. The bottom line, the bottom line here is that zooming out over time reveals a clear, uncomfortable truth. Savers get roasted, borrowers get rich. This is just a new way of looking at it.    And if you're a newer listener and you don't get our newsletter yet, it is free, full of value, and I write every word myself. There are more AI generated newsletters out there. That is not what this is. This is me to you, and to get the newsletter right now. Text. GRE to66866, 66866, we don't send you a bunch of texts that would be intrusive. It's an email newsletter. You can get it by texting GRE to 66866   Now, earlier this year, I talked with you about how home sales have crashed. When people read a media headline like that, home sales crash. You know, some people think that home prices are falling, but that's not. What that means is, you know, it means that the quantity of sales has fallen a lower transaction volume. With that in mind, to help you out in the future, when you're reading. For real estate and economic headlines, I jotted down a few fictitious headlines here, but yet they're the same type that you've seen before, and you'll see these again in the future, and they can be misleading. So let's straighten this out. Okay, here's the first fictitious yet realistic sounding headline, what people often think it means and what it really means. Developer uses tax loophole to deliver 200 unit apartment complex All right. Now, some people read that and they think that the developer is doing something nefarious or underhanded. No. Sometimes reporters use this word loopholes to describe legally created incentives to get much needed housing built. Reporters are often doing yeoman's work on behalf of NIMBYs. If this thing is producing more housing, then we need more loopholes, which are really incentives just like it. Here's another misleading headline. Now, almost all of the 50 states have a lower level of housing inventory than they did pre pandemic, but this headline says, Tennessee housing supply 4% more than pre pandemic levels. All right, some might see that headline and think, Oh, I guess that housing is a little oversupplied. Now, no, not necessarily, because most states had a scarce supply of inventory even before the pandemic hit back in 2020 the next headline is existing home sales fell off a cliff. All right, Did you note that this only includes existing homes, meaning resale homes, because, again, the headline is existing home sales fell off a cliff. So this doesn't include new builds. And there's nothing inherently falsified about some of these headlines. They just get misinterpreted. Softwood lumber prices hit all time record high. Okay, well, with persistent inflation, this might not be reason for alarm. Is it even an inflation adjusted high or not? Here's a headline, California leads the nation in out migration. All right, some people see this and assume that the California population is dropping. Well, maybe, maybe not. Again, the headline was, California leads the nation in out migration? Well, raw numbers aren't per capita. Cali is the largest state by population at almost 40 million. And also, if their in migration exceeds this out migration, well then they had positive net migration. And all of this doesn't even count births or deaths. You'd have to factor that in as well. The next headline is foreclosures Spike 50% year over year. Ooh, that sounds bad. And although this is a fake headline, just like the other ones that I'm telling you about, a phenomenon like this did recently occur, actually, but it's still at a really low level. It just rose from an extremely low level, two tenths of 1% up to three tenths of 1% that's a 50% gain. Here's a headline. You might see mortgage rates have dropped 2% this year. Maybe you'll see that in the future. Most people read something like this, and they assume that real estate values will resultantly soar. Well, maybe, maybe not. It sounds like homes are more affordable, and they would be, but the Fed might be cutting rates because the economy needs the help. It could mean we're in a recession. So if wages are down, even if mortgage rates are down, it might not actually be less affordable. The next fictitious headline is Philadelphia new build home prices surge 8% Oh, you're thinking that's got to be good, right? Well, I don't know what if new build Philly homes are constructed with 10% more square footage this year, but the price is only up 8% so they're actually selling at a lower cost per square foot. And this is also why existing home price change is more meaningful. The next fictitious headline is unemployment claims jump 30% in a week. All right? Well, this usually doesn't mean that there are mass layoffs and some economic Armageddon. If initial jobless claims rise from 200 up to 260k that's a 30% jump, but it's still low relative to recession levels, which are typically 400k plus and the last fictitious headline, Warren Buffett, b, u, F, F, E, T, invests $10 billion in apartment REITs. Oh, well, Buffett was spelled with only 1t Buffett should be spelled with a double T. Have you ever noticed that it is the most frequently misspelled name in financial media that's all for the headlines, so having the wherewithal about these sorts of things can help you better interpret what's happening in Real Estate's Future and the economy's future.    One of the most inexpensive national markets, I'll say, outside the Midwest, where you can own income property, where the numbers really make sense. An investor advantage place is in the state of Oklahoma. Some of these Oklahoma properties that we've begun dealing with here, they're pretty small. Like check out this single family rental I want to tell you about that's just 864 square feet. You know, more tenants desire this type of housing. Family sizes are smaller today, yet they want separation in the privacy of a single family home. And this one is brand new build, two beds, two baths, and the price is, get this $155,000 for new build. Yes, you heard that, right, and the projected rent is really strong. $1,250 I mean, this sort of cottage sized new build home is the type of product that can make the best rental, because if it were double the size, you might only get 50 or 60% more in rent. Now there's no garage on this new build 155k property, and you get all the finishes that you would expect from new construction. The second Oklahoma property to tell you about is this Tulsa duplex. This one really stands out. And Tulsa has over a million people in the metro. It was built just several months ago, $2,900 rent on a purchase price of about 360k and these ones, they've consistently appraised in the 375 to 380k range. So you could very well get some built in equity here with this duplex, where the numbers work pretty well as it is, each side of this new duplex has over 1300 square feet, three beds, two baths on each side, free management the first year, $3,000 cash to you post closing, all the nice finishes you'd expect with new build in this Tulsa duplex. So these two properties I've discussed here are really investor advantaged all new build. And that 155k single family rental was in Chickasaw, Oklahoma. And then the Tulsa duplex in the mid to high three hundreds. The next one is the last one. I'll mention. It's not as good of a deal, but it does look nicer because it's a brick faced new build single family rental for 320k in Lawton, Oklahoma. Lawton is more southwestern Oklahoma, with $2,400 rent, and it's 1800 square feet in this new build and just a little positive cash flow. The property tax rate is 1.1% property insurance is just 1250, a two car garage, all the types of finishes that you would expect with new build. So a property like this is if you're looking for a better quality tenant. Oklahoma City has had more happening than usual. You might have heard that the tallest building in the United States is planned to be built in Oklahoma City, yes, taller than anything in New York or Chicago. The Oklahoma City Thunder NBA team has been performing well. You know, those things are merely interesting and have almost nothing to do with the investor advantage. Rental properties, again, all three that I mentioned, there are new build. Not only are we in this persistent national housing shortage, but these entry level homes that make the best rentals, they're the ones that are in even shorter supply. That's a fact I probably don't mention to you often enough. The home ownership rate is down because of strained affordability, so you may very well have a long term tenant in these properties, and then you layer on the fact that they're new build, and it really looks promising for tenants wanting to stay for the long term. Check out the market and the provider. Learn more at either gre marketplace.com/oklahomcity or slash Tulsa. Yes, new build Oklahoma properties, if you're not sure about the exact address, that's going to provide you with the highest returns, our free investment coaching can help you with that as well borrow dollars with long term fixed interest rate debt that both tenants and inflation just relentlessly pay down for you while your expected price appreciation. Can leverage dollars at the same time. Start at gre marketplace.com/oklahoma, city or slash Tulsa until next week. I'm Keith Weinhold. Don't quit your Daydream.   Speaker 2  44:52   Nothing on this show should be considered specific personal or professional advice. Please consult an appropriate tax, legal, real estate, financial or business professional. Additional for individualized advice. Opinions of guests are their own. Information is not guaranteed. All investment strategies have the potential for profit or loss. The host is operating on behalf of get rich Education LLC exclusively.   Keith Weinhold  45:16   You know, whenever you want the best written real estate and finance info, Oh, geez. Today's experience limits your free articles access, and it's got pay walls and pop ups and push notifications and cookies disclaimers. It's not so great. So then it's vital to place nice, clean, free content into your hands that adds no hype value to your life. That's why this is the golden age of quality newsletters. And I write every word of ours myself. It's got a dash of humor, and it's to the point because even the word abbreviation is too long, my letter usually takes less than three minutes to read, and when you start the letter, you also get my one hour fast real estate video. Course, it's all completely free. It's called the Don't quit your Daydream letter. It wires your mind for wealth, and it couldn't be easier for you to get it right now. Just text gre 266, 866, while it's on your mind. Take a moment to do it right now. Text, gre 266, 866,   The preceding program was brought to you by your home for wealth, building, getricheducation.com.

Send us a textIn this episode, we sit down with Olga Gorodetsky, a Director in Capital Markets at Fannie Mae, for an in-depth conversation about the role of Government-Sponsored Enterprises (GSEs) in the U.S. housing finance system. Olga walks us through the history and mission of Fannie Mae and Freddie Mac, explaining how these institutions provide liquidity and stability to the mortgage market. We explore how mortgage-backed securities (MBS) are created, who trades them, and why they are essential to the broader financial ecosystem. Olga also offers a clear explanation of what happened during the 2008 financial crisis that led to the conservatorship of the GSEs, what conservatorship means in practice, and how it continues to shape the debate over housing finance reform. Finally, we discuss the current state of the mortgage and capital markets, including recent policy developments and headlines that are evolving in realtime. Whether you're an investor, a homeowner, or simply curious about how mortgages connect to Wall Street, this episode offers timely insights and expert perspective on one of the most important — and often misunderstood — parts of the U.S. economy.Shop our LIBRARY of Self Paced Online Courses HEREJoin the Fixed Income Sales and Trading waitlist HERE Our content is for informational purposes only. You should not construe any such information or other material as legal, tax, investment, financial, or other advice.

Steve Forbes makes the case for privatizing Fannie Mae and Freddie Mac, a move that has just been proposed by President Trump.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Freddie Mac and Fannie Mae reported a slight drop in serious mortgage delinquencies for single-family homes in April, signaling a bit of relief for homeowners. But beneath the surface, a very different story is playing out in the multifamily sector. While homeowners benefit from low fixed rates and rising equity, many multifamily investors are finding themselves stuck with maturing loans and no easy refinance options. Meanwhile, ICE data shows price growth is cooling—especially in the condo market. Today's episode breaks down what this all means for real estate investors, lenders, and the broader market. Subscribe to the BiggerPockets Channel for the best real estate investing education online! Become a member of the BiggerPockets community of real estate investors - https://www.biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices

Elon Musk's xAI is launching a $300mn share sale that values the group at $113bn, and China's property sector woes are compounded by tariff worries. Plus, Poland's new president is going to make life hard for the country's prime minister, and the FT's Amelia Pollard explains why US president Donald Trump wants to take mortgage giants Fannie Mae and Freddie Mac private. Mentioned in this podcast:EU companies more concerned about China slowdown than tariffsDonald Trump's plans for Fannie and Freddie would mean payday for hedge fundsNationalist candidate Karol Nawrocki wins knife-edge Poland presidential electionElon Musk's xAI seeks $113bn valuation in $300mn share saleToday's FT News Briefing was produced by Sonja Hutson, Ethan Plotkin, Kasia Broussalian, Fiona Symon, Mischa Frankl-Duval, and Marc Filippino. Additional help from Blake Maples, David da Silva and Gavin Kallmann. Our intern is Michaela Seah. Topher Forhecz is the FT's acting co-head of audio. The show's theme song is by Metaphor Music.Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.

Author and financial expert, Chris Whelan, joins Keith as they explore the intricacies of the housing market's potential future. Chris drops an intriguing prediction of a possible 20% price correction. They dive deep into the complex world of real estate, examining the pandemic's significant impact on mortgages and economic trends. The conversation reveals the behind-the-scenes challenges of the housing market, from government interventions to the nuanced effects of interest rates and forbearance programs. They unpack the struggles in commercial real estate, particularly highlighting the unique challenges in markets like New York's rent-controlled properties. Chris's new book "Inflated: Money, Debt, and the American Dream" promises an insightful journey through America's economic transformation, tracing how the nation evolved from an agrarian society to a global economic powerhouse. Show Notes: GetRichEducation.com/556 For access to properties or free help with a GRE Investment Coach, start here: GREmarketplace.com GRE Free Investment Coaching: GREinvestmentcoach.com Get mortgage loans for investment property: RidgeLendingGroup.com or call 855-74-RIDGE  or e-mail: info@RidgeLendingGroup.com Invest with Freedom Family Investments.  You get paid first: Text FAMILY to 66866 Will you please leave a review for the show? I'd be grateful. Search “how to leave an Apple Podcasts review”  For advertising inquiries, visit: GetRichEducation.com/ad Best Financial Education: GetRichEducation.com Get our wealth-building newsletter free— text ‘GRE' to 66866 Our YouTube Channel: www.youtube.com/c/GetRichEducation Follow us on Instagram: @getricheducation Complete episode transcript:   Automatically Transcribed With Otter.ai    Keith Weinhold  0:01   Welcome to GRE. I'm your host. Keith Weinhold, what's the state of the housing market for the next five years, and could what's happening in the foreclosure market affect it? I see relative housing market price stability. My guest sees cracks. This could be somewhat of a debate today, then two great new cash flow and real estate markets in the same state that we're helping your portfolio with on get rich education, mid south home buyers, I mean, they're total pros, with over two decades as the nation's highest rated turnkey provider. Their empathetic property managers use your ROI as their North Star. So it's no wonder that smart investors just keep lining up to get their completely renovated income properties like it's the newest iPhone. They're headquartered in Memphis and have globally attractive cash flows and A plus rating with the Better Business Bureau and now over 5000 houses renovated. There's zero markup on maintenance. Let that sink in, and they average a 98.9% occupancy rate, while their average renter stays more than three and a half years. Every home they offer has brand new components, a bumper to bumper, one year warranty, new 30 year roofs. And wait for it, a high quality renter, remember that part and in an astounding price range, 100 to 180k I've personally toured their office and their properties in person in Memphis, get to know Mid South. Enjoy cash flow from day one. Start yourself right now at mid southhomebuyers.com that's mid south homebuyers.com.   Corey Coates  1:56   You're listening to the show that has created more financial freedom than nearly any show in the world. This is get rich education.   Keith Weinhold  2:12   Welcome to GRE from Edison, New Jersey to Edinburgh, Scotland, where I am today, and across 188 nations worldwide, I'm Keith Weinhold, and you are back for another wealth building week on get rich education. Today's guest came to me recommended. It came from a guest that we've had on the show here before, Jim Rickards and his daughter Ally Rickards. His name is Christopher Whelan. He has a distinguished background. Comes from a prominent family, and he's the author of a new book that just published a few weeks ago. His father, Richard Whelan, was the biographer of Joe Kennedy, and was advisor to presidents and Fed chairman and today's guest, his son there, Chris. He has done a lot of work in DC. He lives just north of New York City today. So I guess coming recommended from Jim Rickards and learning a few things about today's guest helped me want to host him on the show. So though I'm just meeting him for the first time right here on the show, as it turns out, I learned that he has mentioned on other channels that real estate prices could correct down 20% and fall back to 2020 levels. I absolutely don't see how that's possible in any way. I'm going to bring that up with him, so we'll see. This could turn into somewhat of a debate. Like I said last week, I believe that significantly falling housing prices. That's about as likely as grocery store prices falling back to 2020 levels. Yes, I am in Edinburgh, Scotland today. It's my first time here. My mom, dad and also my brother's entire family came over from the US to meet up. It's been great. We're taking in all the best sites, Edinburgh Castle, other castles, the Scottish Highlands, Loch Ness, though I don't believe in any Loch Ness monster at all. I mean, come on, what a hoax. And we're seeing some other sites, though it didn't really interest the others, which I could understand. I visited the home where Adam Smith once resided, and I might put my video about that on our get rich education YouTube channel, so you could check that out over there. Of course, Adam Smith is considered the father of modern day economics for his work on supply versus demand and the GDP concept, the invisible hand, concept, much of that work conveyed in his magnum opus, The Wealth of Nations, published in 1776 as for the present day, let's meet this week's guest, including me, meeting him for the first time.     I'd like to welcome in a first time guest. He's the author of a widely acclaimed new book. It's named inflated money, debt and the American dream. It just released, and the book couldn't be more timely with the multitude of challenges related to inflation, many involving the housing market in his earlier books, he's been known, frankly, for just telling his readers the truth. He's worked at the Federal Reserve Bank of New York in politics and as an investment banker for more than 30 years. Today, he runs Whalen Global Advisors. You've seen him on CNBC in the Wall Street Journal, and now you're hearing him on GRE Welcome to the show. Chris Whalen.   Chris Whalen  5:43   Thank you, Keith, appreciate your invitation.    Keith Weinhold  5:45   Whalen is spelled W, H, A, l, e, n, if you're listening in the audio only, Hey, Chris, we're in a really interesting time in the economic cycle. We all know the Fed has a dual mandate, high employment and stable prices. What's interesting to me is, late last year, they cut rates by a full 1% and this is despite inflation being above target. Makes me wonder if they care more about high employment and they're rather willing to let inflation float higher. What are your thoughts?    Chris Whalen  6:18   I think historically, that's been the case. You know, the dual mandate Humphrey Hawkins, that drives the Fed's actions today was a largely socialist compromise between the Republicans and the Democrats. The Democrats wanted to guarantee everybody a job after World War Two, the legislation was really about soldiers and people who had served their country in many, you know, places around the world, for a long time, and then you would have the depression. So you had a whole generation or more of people that were looking for help when they came home. And that's what this was. But today, you know, there's another mandate, which is called keeping the treasury bond market open. We saw it was during COVID in 2020 President Trump got up, declared that people didn't have to pay their rent or their mortgages, and then didn't do anything. There was no follow up. At the time, folks in mortgage industry kind of looked at each other funny for about 60 days and said, What's going to happen? Because they have to advance principal, interest, taxes and insurance to protect the house. The first rule in mortgage finances protect the asset. But it all worked because the Fed dropped interest rates to zero and we had a boom. We refinanced two thirds of every mortgage in the United States, and that cash flow allowed the finance forbearance for millions of Americans. Now the unfortunate part, of course, was home prices went up double digits for six years. So why we had no affordability today? So, you know, it helped, but it certainly didn't help in some ways,   Keith Weinhold  7:48   mortgage loan forbearance back in the COVID era about five years ago, where you could basically just skip your mortgage payment and then they increase the overall duration of your loan period.   Chris Whalen  8:00   That's right. So you know, your government market, your conforming market, were falling. They also had various schemes, state forbearance for non agency loans. Nobody thought at all about the multifamily sector and the developers that didn't get paid for two years. And we're feeling the impact of that. Of course, today, that's probably the biggest pain point in US economy today is commercial real estate and multi family real estate, and neither one of them involves a consumer. So it gets no attention at all. You read about it in the specialty press, but that's about it.    Keith Weinhold  8:34   And by talking about multi family not affecting the consumer, you're just talking about who's on the owner side there?   Chris Whalen  8:40   precisely if all of the consumers have problems, you'd hear about it, and you do, especially in some of the blue states. I live in New York, so we have some of the more aggressive rent stabilization, rent control laws in the country. And they go back to World War Two. They go back almost a century,   Keith Weinhold  8:58   right? It's those people in the one to four unit space in residential real estate investing that really got the help there.    Chris Whalen  9:06   Well, at least, you know, the world didn't end. Imagine if all of those people had gone to foreclosure. The industry wouldn't have done that. Of course, they would have thrown up their hands and cried for help. But the point is, they made it work. But the cost of making it work that zero interest rate regime that the Fed put in place is still being felt today. If you look at banks which typically have prime large mortgages on their books, the loss given default is zero. Home prices are so high that if somebody actually goes to foreclosure, they sell the house, they pay off the loan easily, and there's usually a large residual left, which would go to the homeowner. So today, you know, if somebody gets in trouble, we do a short sale, we do a deed in lieu, and off they go. And that's why the stats don't show you the pain that many American families are feeling today, because about 60% of all payoffs of one to four family mortgages are people who. Are exiting the market, they're not going to buy another house. So what that means is that the cost of home ownership, or whatever other factors are involved, has made them make the decision not to go to another home mortgage.    Keith Weinhold  10:13   Yes, we have this historically low affordability that's beginning to be reflected in the home ownership rate. It's trended down from about 66 to 65% recently, we continue to be in this environment here, Chris in the one to four unit space, where those existing homeowners are in really good shape. They have record high equity levels of over 300k A lot of them have their home paid off. About 40% of American homeowners own their home free and clear, and of the remainder, those borrowers, 82% still have a mortgage rate of under 5% and of course, that principal and interest payment stays fixed. So even if there's economic hardship, it's pretty easy for people to make their payments and stay in their homes.   Chris Whalen  11:02   Well, it certainly is for most of the marketplace. If you look at the bottom 20% the FHA market, also the VA market, there's a little more stress there. There's still an awful lot of people who are in various types of forbearance in that market. That's going to end in October. So the Trump administration is pushing most of the rules back to pre COVID approaches for delinquency, for example, what we call the waterfall. And what that basically means is that if an FHA borrower gets in trouble, they'll have one shot at a modification where they lower the loan cost and stick part of the loan out the back to be paid off when the house is sold. If that doesn't take, if they don't re perform, then they're going to go to a foreclosure. We just ended another program for veterans. You know, they had three weeks notice, so now you're going to see a lot of veterans going to foreclosure. Unfortunately.   Keith Weinhold  11:56   yes, this administration is basically making sure that people are responsible or resume their payments. We've seen that student loan repayments needing to resume as well. Most foreclosure rate types are still pretty low, but yes, FHA foreclosure rates are higher than those for conventional loans.    Chris Whalen  12:15   Yeah, the interesting thing is, the veterans delinquency rate is half of the FHA rate, and even though people in uniform don't make a lot of money, they pay their bills. Yeah, it's quite striking.   Keith Weinhold  12:25   Why don't you talk to us more about areas where you see distress in the housing market before we talk about more inflation? Chris, the   Chris Whalen  12:34   key areas of housing stress at the moment are commercial real estate that has become underutilized. COVID drove a lot of this, but also the fact that industries could change their work practices. It could have people work from home. Look at housing. We sent everybody home in 2020 while we increased headcount by a third to address a surge in lending volume. It was insane. I gotta tell you, we were hiring people that we didn't see for months that changed the business model assumptions for a lot of industries. A lot of them moved out of blue states and went down to Florida and Texas. In the mortgage industry particularly, and so we have a lot of older real estate particularly, that is suffering. It has dropped in terms of appraised values. You also have higher interest rates and higher cap rates, that is to say the assumption of returns on the part of investors. So that hurdle has made a lot of these properties impaired, essentially. And then the other subclass is older multifamily properties. Think about those beautiful old apartments in the middle block up on the east side or the west side of Manhattan. They're not big enough to be viable, and so they have become this kind of subprime asset class, much in the way if you recall the signature bank failure, they typically bank these sorts of real estate properties, and now there's nobody that wants them. I think you're going to see some very specific pain coming out of HUD, and also Fannie Mae and Freddie Mac because they bank some of these smaller properties that really aren't bankable by commercial banks. That's what it comes down to. If you're going to read about this and hear about it a lot in the commercial market over next several years. And again, you know, the losses on bank owned multifamily properties today are averaging 100% so that means that there are a lot that have more expenses than simply losing the full loan amount. And you know, if you want to have a bank loan, they're not taking these properties. They don't want them, right? So the bank, REO rate, if you look at the data from the FDIC, is zero. And what that tells you is that they can't sell the properties they don't want them, because if they take ownership, the city's not going to let them abandon the property. They'll have to keep it and maintain it. It's a tough situation. This is. Has evolved over the last 20 years or so, because consumer incomes have been kind of stagnant in real terms. But the cost of operating a property in New York City is not going down. It's going up quite a lot, and the legislation we've seen from Albany doesn't allow owners to recapture expenses, doesn't allow them to renovate apartments. So if I have a rent stabilized apartment, I'll use a real example, in a beautiful building on Central Park South right, to renovate a unit that's been occupied for 20 years, new kitchen, new bathroom, sir, everything services. That's $150,000 so if I'm the owner and I can't recapture that cost. What do I do? I lock the door, I gut the apartment, and I lock the door, and I hope that the laws will change in the future, because I can't rent it, my insurance underwriter will not allow me to rent out an apartment that's not brought up to code. That's New York law, but the folks in Albany don't care about that. We have some really unreasonable people in positions of authority, unfortunately, in some of these states, and you talk to them about these issues, and they don't care. They just pander to consumers, regardless of whether or not it makes sense or not. And that's just the way it is.   Keith Weinhold  16:15   Those evil landlords, quote, unquote, most right evil. They're just mom and pop investors that are trying to beat inflation with real assets, and they have real expenses. Rent Stabilization basically just being a genteel term for rent control, which gives no one an incentive to improve a property for sure   Chris Whalen  16:35   and it reduces the availability of housing ultimately, because nobody builds. You see that in New York right now the home market is pretty tight, up to the conforming limit for Fannie Mae and Freddie Mac so you figure a million, 1,000,002 here in New York. But above that, it's quieted down quite a lot. There's compression in some of the higher end homes. And you know, if you go down south, you see a different problem, which is over building. They didn't want to build here, so they went down to the Carolinas and Texas and Florida. There's a huge amount of both multi family condo type developments and single family homes too. But above that average price level way above half a million dollars.   Keith Weinhold  17:15   Sure, it's made this dynamic where things have been flip flopped in the Northeast and Midwest, where the populations aren't growing very fast, those markets have been appreciating more than those in the high growth southeast, all coming back to supply. They're not bringing on enough new supply in the Northeast and Midwest, Chris has just laid out a few reasons for that, due to this high regulation. And then in the southeast, a high growth area, even though that's where people are moving, we're not getting much appreciation there, because you're able to build and that supply is able to keep up with demand. Well, Chris and I are going to talk more about the housing market and about inflation. When we come back, you're listening to get rich education. Our guest is Chris Whelan, the author of a great new book. I'm your host. Keith Weinhold.   the same place where I get my own mortgage loans is where you can get yours. Ridge lending group and MLS, 42056, they provided our listeners with more loans than anyone because they specialize in income properties. They help you build a long term plan for growing your real estate empire with leverage. Start your pre qual and even chat with President Caeli Ridge personally. While it's on your mind, start at Ridge lendinggroup.com. That's Ridge lendinggroup.com.    You know what's crazy? Your bank is getting rich off of you. The average savings account pays less than 1% it's like laughable. Meanwhile, if your money isn't making at least 4% you're losing to inflation. That's why I started putting my own money into the FFI liquidity fund. It's super simple. Your cash can pull in up to 8% returns and it compounds. It's not some high risk gamble like digital or AI stock trading. It's pretty low risk because they've got a 10 plus year track record of paying investors on time in full every time. I mean, I wouldn't be talking about it if I wasn't invested myself. You can invest as little as 25k and you keep earning until you decide you want your money back. No weird lockups or anything like that. So if you're like me and tired of your liquid funds just sitting there doing nothing, check it out. Text family to 66866, to learn about freedom. Family investments, liquidity fund again. Text family to 66866.   Kathy Fettke  19:45   this is the real wealth network's Kathy Fettke, and you are listening to the always valuable get rich education with Keith Weinhold.    Keith Weinhold  20:00   You welcome back to get rich education. We're talking with the author of a great new book, Chris Whelan, it's called inflated money, debt and the American dream. Chris, I see the residential housing market and their price points as being resilient. I'm kind of looking around and seeing if you have any places where you think that there are any cracks in that? I've heard you talk elsewhere about a housing price correction. Were you talking in the one to four unit space? And how do you think that could happen?   Chris Whalen  20:31   I didn't come up with that idea. I did a biography of my good friend Stan middleman, who's the founder of freedom mortgage. It's a real rags to riches story of a successful entrepreneur, a great guy, by the way, is a beloved man in the mortgage industry. And so what he believes is that cycles are about a decade in terms of human behavior. And he says misery on the eights, which is kind of a cute way of saying it. And what Stan is basically saying is you eventually see so much price appreciation that affordability goes to zero. You run out of buyers, is another way to put it. And then once the Fed gooses it, he thinks we see an interest rate decline this year next year, perhaps you get rates to run a little bit. You get volumes to jump the way they did last summer. You remember, in the third quarter, we had great volumes in the mortgage industry, carried everybody through to the end of the year, and then after that, he says, we get a price correction, maybe back down to 2020 21 levels. So we're talking about a 20% price correction, and we're talking about the loans that have been made in the last few years being underwater. That's something we haven't talked about in a long time. We haven't talked about that since 2008 so I think that Americans inevitably have to see some kind of a correction. What the Fed did was wrong, what they did was excessive. I write about that in the end of my book, but unfortunately, the result is home prices that have galloped along, and eventually you got to reset it. Part of its supply coming online. Part of it is simply, like, I say, you run out of buyers, and when it's simply that purchase buyer who is either all cash or happens to have the deposit, and that's all you have. And there's no flexibility for people that want to get into the market. You know, that's tough. I could recall Paul Volcker years ago, we were talking about that in the book too. He ratcheted down home prices. He raised interest rates so much that home prices went down, and a lot of builders went out of business who had had a lot of snls go out of business, and, you know, the previous decade. So that was a tough time. We didn't even start to do that this time around, because they were afraid to the Fed is worried about keeping the Treasury market open, so they are afraid of deflation, which unfortunately means you don't get those opportunities to get into the market. I remember my parents, when I was very young, they would buy busted homes in Washington, DC. It was a great way to make a lot of money, and in five years, the House would double. That's the kind of market Washington was   Keith Weinhold  23:05   in my opinion, I don't see how there could be any substantial residential home price correction. Historically that happens when there's a wide swath of homeowners that get into financial trouble, like I was talking about earlier, the homeowner is in great financial shape today. In fact, since World War Two, we've only seen home prices drop substantially during one period. That was that period around 2008 and that's when we had conditions that are opposite of what they are today. We had loans underwritten with liar loans. We had an over supply of homes, like I was saying earlier, inflation can't touch one's principal and interest payment. We're still under supplied with homes. Most experts don't think we'll get that into balance for at least five years. I really don't see how home prices could fall substantially. I also don't see how they could rise substantially, like, say, 10% due to that low affordability, but I expect continued stability in prices?    Chris Whalen  24:02   Well, we'll see. I'm not as sanguine about that, because a lot of people feel house rich on paper, but when the bottom of the stack is really hurting as it is now, FHA delinquency rates really are in probably the mid teens. You don't see that yet in the middle with the 727, 40 FICO type borrowers. But I think over time you could, and if, again, it depends on the economy and some other factors, but I'll tell you right now, you're already seeing a correction in the hyad the bottom half, no. And there's a supply problem here, which I agree with you on. It's going to keep those home price is pretty firm. And even where I am in New York, for God's sake, Keith, there's no construction here. So we just had a house across the street from me go from million one. I live in Sleepy, hollow New York, and you know, this is typically around the conforming limit for prices for most of these homes, and it went for 150 $1,000 over the ask, it was crazy. Went in two weeks now, during COVID, we saw this sort of behavior, and we thought, Well, okay, you had zero interest rates. I got a 3% mortgage, by the way, awesome. But here we have a situation when markets cooled down a lot, and yet the lack of availability is really the driver. So in that sense, I agree with you, but I do think the high end could correct rather substantially.   Keith Weinhold  25:24    And of course, in multi family apartments, that's different. That's where values in a lot of markets have been depressed by more than 30% they were subject to those interest rates being jacked up, and we're still going to see balloon loans mature and people default on those in apartments. The pain is not over with air, but at some point that's going to bottom out, and that'll be a buyer opportunity in apartments.   Chris Whalen  25:47    Well, the thing is, new stuff is going fine. It's what happens is when the new gets built, the older assets down the road get discounted. That's really what's going on. People love new as you know, these kids love a new house, as opposed to an older house.   Keith Weinhold  26:02   Yes, that'll help reset the prices in the new market when you can compare those to what existing values are. Well, Chris, talk to us more about your new book and what the overall thesis of the book is in these critical times.    Chris Whalen  26:16   Inflated is meant to help people understand how our country went from agrarian, sleepy, isolationist America in the 1900s to being the dominant economy in the world and the provider of global money. We talk about how we got here. We talk about Abraham Lincoln and Franklin Roosevelt and many other characters. Obviously, we had to talk about Andrew Jackson, who is now embodied in our president, Donald Trump. We try and frame how this is all going to evolve in the future. And my thesis is basically the global currency role is something you get during or after a war. We took the baton from Great Britain after the First World War, and then by the end of World War Two, everybody in the world was broke, except for us. It was last man standing. And so rebuilt the world. We let everybody take advantage of us, and now President, who's saying, Nope, we got to change this. I think if it wasn't Trump, it would be somebody else. To be honest with you, Americans are tired of high inflation. They're tired of some of the other costs that come along with being the global reserve currency, so we try and frame all of this in an understandable way. And I particularly talk about housing during COVID and how that all really, I think, changed things for many Americans. Home ownership has been one of the basic ways we create wealth in this country, and the fact that we didn't have an opportunity for people to get in cheap with a fixer upper or a house that was foreclosed. You know, I think it's unfortunate, but the system just can't tolerate it. We've gone in 2008 and then in 2020 through two very significant crises when the government bond market stopped working. So we talk about that as well.   Keith Weinhold  28:03   I don't predict interest rates. I think it is really difficult to do you mentioned earlier about the prospect for lower interest rates coming. Everyone wants to know about coming. What's your outlook for the future of interest rates and inflation for just say the next five years? Chris,    Chris Whalen  28:19   I think interest rates will drop. That is to say what the Fed controls, which is short term interest rates. In the next year or so, we'll have a little bit of a boom as a result. But I think the concern about the federal deficit and US debt, the volatility caused by President Trump's trade strategy, and just general I think a sense of uncertainty among investors is going to keep long term interest rates higher than we saw during COVID And really the whole period since 2008 the Fed bought a lot of duration and took it out of the market, so they kept rates low. They're not going to do that as much in the future. I don't think they'll buy mortgage securities again, they are very chastened by that experience. So if they don't buy mortgage backed securities, and if the banks don't become more aggressive buyers, and I don't think they will, then you know, the marginal demand that would drive mortgage rates down is just not going to be there. Banks have been holding fewer and fewer mortgages and mortgage backed securities on their books for 35 years. If you look at the growth in the industry, the dollar amount of one to four family mortgages hasn't changed very much. So when you look at it that way, it's like, you know what's wrong? Two things. They want to only make mortgages to affluent households. They want to avoid headline risk and litigation and fines and all of that. And I think also, too some of the Basel capital rules for banks discourage them from holding mortgages and mortgage servicing rights, which is an area I work in quite a lot.   Keith Weinhold  29:55   It seems to me, like increasingly, the powers. It be the United States government just won't let the homeowner fail. They want to do so much to promote home ownership over the long term, we see relative ease with getting a mortgage. We've seen lower down payment requirements during other times, including COVID. We see the government jump in with things like mortgage loan forbearance and an eviction moratorium for renters. They just don't want to let people lose their homes. It just seems like there's more propensity to give homeowners a greater safety net than ever. Well,   Chris Whalen  30:29   we've turned it into an entitlement. Yeah, and Trump is changing that at the federal level. The states, the blue states, are going to continue to play that game at the state level, and they can even have state moratoria. But what's going to happen, and I think sooner rather than later, is you may see the federal agencies start to tier the states in terms of servicing fees, simply to reflect the cost. It takes over 1400 days to do a foreclosure in New York. Gosh, that is a big problem. You can lose the lien in New York now, it takes so long. So I think that, you know, from an investor perspective, from a developer perspective, it's not an attractive venue. That's just the reality. Then you even California is as progressive and as activists as it is, you can still get a foreclosure done very quickly using the trustees. It's just a totally different situation. If there are complications, you can get into a judicial foreclosure, which will take longer. But still, California works. New York is deliberately dysfunctional. We have people in the state legislature who are in foreclosure themselves, and they keep passing these laws. So, you know, I think at the federal level, you're going to see it roll back to pre COVID, but I will say that forbearance, both with respect to the agency and conventional market and private loans, is kind of the rule. Now we work with the borrower much more than we would in the past. It's it is really night and day.   Keith Weinhold  32:00   Chris, your new book has gotten a lot of acclaim. Let us know anything else that we should know about this book, and then if we can get it in all the usual places   Chris Whalen  32:10   you can buy it at Barnes and Noble Amazon. I have a page on my website, RC, waylon.com, with all the relevant links. But the online is the best way to get it. Most of the sales are on Kindle anyway, but well over 90% are online, so we don't have to worry about physical books. I think we'll be doing some book signings in the New York area. So we'll definitely let you know about that.   Keith Weinhold  32:33   One last thought is that the rate of inflation means more to a real estate investor than it does to a layperson, maybe five times as much or more, because when we borrow for an income property, our asset floats up with inflation. That part's really just a hedge on inflation. Our debt gets debased by inflation, which is really a mechanism for profiting from inflation over time. And then, thirdly, our cash flow tends to go up even faster than the rate of inflation, since our principal and interest stays fixed, so real estate investors can often be the beneficiary of inflation. It's sort of strange to go root for a force like inflation that can impoverish so many people. But what are your thoughts with respect to real estate investors and inflation?   Chris Whalen  33:19   Well, you know, it's funny when Jerome Powell at the Fed says that they have a 2% inflation target, my response is, well, we better have at least 2% inflation if we're going to make commercial real estate work. Commercial real estate went up for 75 years after World War Two. I can remember when I was in the rating business at Crowell bond ratings going to see some of the banks here in New York, their multifamily books had only seen the equity underneath the asset go up and up and up. In other words, the land ended up being 90% of the value, you know, 1520, years after the purchase and the improvements were almost worthless simply because the land appreciated so much. Now that has changed since COVID. A lot of commercial real estate, particularly has gotten under a bit of a cloud. You've seen falling prices. However, in parts of the country that are growing where you have a positive political environment, positive economic environment, you're still seeing fantastic growth in both commercial and multifamily markets. So I think being very careful and patient in doing your homework in terms of picking venues is more important now than ever before. You know, I'll give you an example. Down in Florida, we're building new malls every day. The mall down the road that's 15 years old. There's nothing wrong with it, but it's 15 years old. And so the price discounts that you're seeing for existing assets are rather striking. Same thing down in the Carolinas, down in, you know, Atlanta, and going down to the Texas growth spectacle, I'm always astounded by what's going on in Texas. They built so much in that whole area around South Lake, out by the airport. It, they're going to basically subsume used it. So, you know, in those markets, you have great opportunities, but you also have over building. And so we're going to see some cycles where they're going to be deals out there for projects that maybe were a little too ambitious have to get restructured, and astute investors can come in and do very well on that   Keith Weinhold  35:20   like we often say around here, in real estate investing, the market is typically even more important than the property itself. The name of Chris's new book, again, is inflated money, debt and the American dream. It has an awful lot of intersections with real estate investors and how they can play inflation. Uh, Chris has been a terrific conversation about the real estate market and larger market forces. It's been great having you here on the show.   Chris Whalen  35:47   Thank you, Keith. Let's do it again.   Keith Weinhold  35:49   Yeah, some good insights from Chris, a smart guy. And gosh, what a really sad state for rent stabilized apartments in New York City, where landlords of some of those properties, they would have to spend sometimes hundreds of 1000s of dollars in order to bring them up to code, but then they couldn't charge enough rent to offset those expenses due to government intervention and price fixing, so landlords just lock up the property vacant. And this sort of harkens back to when we were talking about some of this last year, when we had documentary film maker jen siderova on the show with her film called shopification, and it was about how rent control slowly makes neighborhoods fall into disrepair. All right, Chris and I had some difference of opinion there on the prospects for a home price correction. I think I made most of my points. He did, though, talk about running out of home buyers. If I have him back, maybe I'll pick up right there. More buyers are baked into the demographics, like I think I shared with you one time the US had its highest ever birth rate years between 1990 and 2010 more than 4 million births per year for a lot of those years. Just to review this with you, you might remember that 2007 was the US is peak birth year. Add 38 years to that for the average first time homebuyer age, and that housing demand won't even peak until 2045 and it will continue to stay high for a few years after that. So that's where the demand is just going to keep coming from, just piling on. And when I say that loan conditions have eased for American homeowners, like I did there during the interview, of course, what I'm talking about is the long term. I mean, lending conditions got more rigid after 2008 and with the adoption of Dodd Frank. What I'm talking about is, before the Great Depression, it was most common to have to make 50% to 60% down payments on property, and you had to repay the entire note in five to 10 years. I mean, can you imagine how that would hurt affordability today and then later, by 1950, 15, year loans were the common one. I mean, even that would impair affordability today. Today, 30 year loans are the common one, and you can put as little as 3% down on a primary residence. A lot of people don't know that either. It does not take 20% on a primary residence. So that's what I mean about the relative ease of credit flow today. Now, Chris has knowledge about other parts of the real estate market that I don't for his work inside DC and in other places like the foreclosure market. We talked about some of that right after the interview. For example, He was letting acronyms like NPL roll off his tongue, and I had to ask him what that meant. That's a non performing loan. Check out Chris's new book. Again, it's called inflated money debt in the American dream. And again, his website is RCwhalen.com and Chris also has a great sense of history, which we didn't get into, longtime real estate guys radio show co host Russell gray and I will discuss monetary history here on the show soon. Like I said, I'm coming to you from Edinburgh, Scotland this week, even if you don't see great sites, you know, it's interesting just walking the historic streets here, if you're an American that's visited here before, you surely know what I mean. And I told you that I'd let you know, the current real estate transaction I'm involved in is paying $650 a night for the hotel here in Edinburgh. Yes, that's a lot. I've actually paid less for fancier places in Dubai, but this hotel here is on the Royal Mile. Of course, I could have found less expensive accommodations elsewhere.    Speaking of less expensive, here's an announcement. And we have new investment property providers at GRE marketplace, two of them, the markets are both in Oklahoma, and they are Oklahoma City and Tulsa, Oklahoma as a state, is known for landlord friendly eviction processes and legal systems, kind of the opposite of New York. So this makes your property management more predictable. Now, when we look at this city, OKC has the lowest priced new single family rentals. I can think of it under 160k Yes, that really puts the exclamation point on inexpensive and favorable rent to price ratios often exceeding 1% which is obviously attractive for cash flow, meaning a 150k single family rental could yield over $1,500 in rent. There's high rental demand in certain sub markets. We have scouted out those exact places for you in the OKC metro, like Edmond Moore spelled M, O, O, R, E, and Midwest City, all supporting consistent rent income, though it was once really oil dependent, OKC has diversified economically, reducing your risk tied to commodity cycles and ok sees local economy that's supported by industries including aerospace, energy, health care and logistics. Then there's Tulsa. Tulsa has the highest cash flowing new build duplexes, perhaps anywhere in the US that I know about. On the single family rental side, a lot of Tulsa investors can find properties under 150k with monthly rents again exceeding 1% of the purchase price, clearly ideal. So yes, both Oklahoma City and Tulsa are now on GRE marketplace. You can either visit the pages and see them there, or one of our qualified, experienced GRE investment coaches. Meet with them. They can help guide you to the very best deals and show you the specific property addresses available right at this time for whatever best meets your needs. If you're looking to either start or expand to another market and you seek cash flow, you really need to consider Oklahoma. Yes, it is free to have a strategy session with an investment coach, whether that's for Oklahoma or other investor advantage regions. I often like to leave you with something actionable. You can start at GREinvestment coach.com start book a meeting for a free strategy session remotely. That's at GREinvestment coach.com, until next week, I'm your host. Keith Weinhold, don't quit your Daydream.   Dolf Deroos  42:51   Nothing on this show should be considered specific, personal or professional advice. Please consult an appropriate tax, legal, real estate, financial or business professional for individualized advice. Advice, opinions of guests are their own. Information is not guaranteed. All investment strategies have the potential for profit or loss. The host is operating on behalf of get rich Education LLC exclusively.   Keith Weinhold  43:14   You know, whenever you want the best written real estate and finance info, oh, geez, today's experience limits your free articles access and it's got pay walls and pop ups and push notifications and cookies disclaimers. It's not so great. So then it's vital to place nice, clean, free content into your hands that adds no hype value to your life. That's why this is the golden age of quality newsletters, and I write every word of ours myself. It's got a dash of humor, and it's to the point because even the word abbreviation is too long, my letter usually takes less than three minutes to read, and when you start the letter, you'll also get my one hour fast real estate video. Course, it's all completely free. It's called the Don't quit your Daydream letter. It wires your mind for wealth, and it couldn't be easier for you to get it right now. Just text gre to 66866. While it's on your mind, take a moment to do it right now. Text, gre to 66866.   The preceding program was brought to you by your home for wealth, building, getricheducation.com.

Trump just announced plans to take Fannie Mae and Freddie Mac public — but without ending government conservatorship. In this episode, Kathy Fettke breaks down what this could mean for the mortgage market, investor profits, and homebuyers. Will mortgage rates go up? Is this privatization in disguise? And how are analysts reacting to Trump's unusual approach to housing finance reform? LINKS Download Your Free Top 5 Cities to Invest in 2025 PDF!https://www.realwealth.com/1500 JOIN RealWealth® FOR FREE https://realwealth.com/join-step-1 FOLLOW OUR PODCASTS Real Wealth Show: Real Estate Investing Podcast https://link.chtbl.com/RWS Real Estate News: Real Estate Investing Podcast: https://link.chtbl.com/REN TOPICS DISCUSSED:  00:00 Freddie and Fannie Removed from Conservatorship?  00:26 Trump's Comments 01:03 Government Conservatorship 01:30 Bill Pulte's Comments 02:29 Effect on Mortgage Rates 03:16 Bail Out and Dividends 

Is the housing market finally tipping in favor of buyers? This week on On the Market, Dave Meyer is joined by Kathy Fettke, Henry Washington, and James Dainard to break down a critical shift in housing market trends. With sellers now outnumbering buyers in many cities for the first time in over a decade, investors are facing new opportunities and new risks. The panel dives into how mortgage rates, housing inventory, and even the potential privatization of Fannie Mae and Freddie Mac could impact housing prices, interest rates, and your 2025 housing market forecast. Links from the Show Join the Future of Real Estate Investing with Fundrise: https://www.fundrise.com/bpmarket  Join BiggerPockets for FREE

Welcome to The Chrisman Commentary, your go-to daily mortgage news podcast, where industry insights meet expert analysis. Hosted by Robbie Chrisman, this podcast delivers the latest updates on mortgage rates, capital markets, and the forces shaping the housing finance landscape. Whether you're a seasoned professional or just looking to stay informed, you'll get clear, concise breakdowns of market trends and economic shifts that impact the mortgage world.In today's episode, we look at potential impacts on mortgage rates from the privatization of Fannie Mae and Freddie Mac. Plus, Robbie sits down with CHLA's Scott Olson to discuss the rising costs of credit scores, the monopoly power of FICO, and how increased competition, from VantageScore to new credit scoring models, could reshape the mortgage lending landscape. And we close with some predictions about what this week's economic calendar will bring.Today's episode is sponsored by CreditXpert—the credit optimization platform that helps today's top mortgage originators and more than 60,000 mortgage professionals qualify more applicants, make more competitive offers, reduce LLPA premiums and close more loans. Download your free copy of the credit optimization playbook today at creditxpert.com/chrisman. 

Katie and Matt discuss Katie’s new bird, the legality of tariffs, the TACO trade, rooting for the nondelegation doctrine, implicit guarantees, the money to be made if Fannie Mae and Freddie Mac are re-privatized, stuffing Bitcoins into public companies and owning the global financial asset portfolio.See omnystudio.com/listener for privacy information.

President Trump made an announcement that he plans to privatize Fannie Mae and Freddie Mac in a deal that could provide trillions of dollars of revenue to the federal government.

Today's Headlines: Trump dismissed Wall Street's new "TACO trade" nickname — Trump Always Chickens Out — used by investors profiting off his tariff tweets, calling it “the nastiest question.” Meanwhile, he continued his pardon/commutation spree, finalizing the Chrisley's as well as to a corrupt Virginia sheriff, ex-Rep. Michael Grimm, a convicted gang leader, and rapper NBA YoungBoy, among others. He also announced plans to take Fannie Mae and Freddie Mac public while keeping government loan guarantees, boosting their stocks to 2008 levels. Stephen Miller and Kristi Noem reportedly pressured ICE to triple daily immigrant arrests to 3,000, using job threats as leverage. Lastly, the Tate brothers now face 21 charges in the UK tied to rape, trafficking, and abuse, while also battling similar cases in Romania, where they remain under legal proceedings. Resources/Articles mentioned in this episode: CNN: Trump was just asked about the ‘TACO trade' for the first time. He called it the ‘nastiest question'   Axios: Trump pardons criminals with MAGA credentials or big money Bloomberg: Fannie, Freddie to Keep US Guarantee If Taken Public, Trump Says Axios: Scoop: Stephen Miller, Noem tell ICE to supercharge immigrant arrests  AP News: Tate brothers face rape and trafficking charges in the UK  Morning Announcements is produced by Sami Sage and edited by Grace Hernandez-Johnson Learn more about your ad choices. Visit megaphone.fm/adchoices

In this episode, we discuss the impact of rising mortgage rates following Trump's consideration of privatizing Fannie Mae and Freddie Mac. Homeowners like Maria are caught in the crossfire in an unstable market, leading to increased rates and stricter lending standards. The episode also critiques the traditional real estate agent model, advocating for a more competitive approach where agents invest upfront to secure listings. The discussion emphasizes the importance of working with committed agents to navigate the complexities of today's housing market. BUT BEFORE THAT, hear the news about Wall Street's $10 trillion plan that is going to keep you renting forever! Get started with off-market deals: https://docs.google.com/document/d/1EV7cmIuBujFRZqOswpj5Rz5NwdMdY7EddVxbux3rAMY/edit?tab=t.0 About that thing we're doing in Vegas this month: https://intensive2025.com/ Make Agents Compete for You—Get Paid Before You Sell. Don't Let Rates Sink Your Profits: https://drive.google.com/file/d/1T_qDlkeecWRox1TKTeIUIcv-18RugXoL/view Learn more about your ad choices. Visit megaphone.fm/adchoices

President Trump announces plans to take Fannie Mae and Freddie Mac public while maintaining government guarantees—a move that could reshape the $9 trillion mortgage market. Host Matt Myre breaks down what this privatization plan means for mortgage rates, housing affordability, and real estate investors. We explore the 17-year government conservatorship, why Wall Street is betting big on these stocks, and the six key ways this could impact your investment strategy. From mortgage rate stability to potential lending changes, this episode covers everything investors need to know about the biggest housing finance story since 2008. Subscribe to the BiggerPockets Channel for the best real estate investing education online! Become a member of the BiggerPockets community of real estate investors - https://www.biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices

Nvidia on the move after reporting its latest results. How the Fast Money traders are handling the chip giant's stock reaction, and what one top semi analyst thinks about the quarter. Plus Mortgage maneuvers out of the White House, as Presiden Trump weighs ending the conservatorship for Fannie Mae and Freddie Mac. The impact it could have on mortgage rates and the housing market.Fast Money Disclaimer

Carl Quintanilla, Jim Cramer and David Faber engaged in a wide-ranging discussion about what to expect from Nvidia when the chip giant reports quarterly results after Wednesday's close of trading. What's at stake for the AI trade? Rates also in the spotlight: New data showmortgage rates hitting highs not seen since January -- and President Trump elaborates on his push to take Fannie Mae and Freddie Mac public. The anchors reacted to FHFA director Bill Pulte's blunt call for Fed Chair Jerome Powell and his fellow policymakers to cut interest rates. Squawk on the Street Disclaimer

Nvidia front and center ahead of results after the bell: Carl Quintanilla, Sara Eisen, and David Faber discussed what to expect tonight with Wedbush's Dan Ives – and broke down the key reports of the morning when it comes to the consumer… In addition to extra color from the CEO of Abercrombie & Fitch, as shares surge on record Q1 sales from the name.  Plus: Could President Trump's policies dent the dollar's dominance? Former Goldman Asset Management Chairman Jim O'Neill arguing yes – hear his defense, this hour… Along with Jefferies' top picks within one sector they say could be a major winner in the AI revolution, and a deep-dive on Trump's promises to take Fannie Mae and Freddie Mac public.  Also in focus: A live read from the ground at Bitcoin 2025; Why Loop Capital says tariffs could be a good thing for Apple; and Family offices get bullish – the details.   Squawk on the Street Disclaimer

Cliff Rossi, Professor of the Practice and Director of the Smith Enterprise Risk Consortium at the University of Maryland, joins the podcast to discuss the future of housing finance and the potential release of Fannie Mae and Freddie Mac from government conservatorship. The team also delves into Dr. Rossi's proposal for fixing the homeowners insurance market and explores concerns surrounding private credit.Guest: Clifford Rossi, Professor of the Practice, Director, Smith Enterprise Risk Consortium Executive-in-Residence PhD, Cornell UniversityHosts: Mark Zandi – Chief Economist, Moody's Analytics, Cris deRitis – Deputy Chief Economist, Moody's Analytics, Marisa DiNatale – Senior Director - Head of Global Forecasting, Moody's AnalyticsFollow Mark Zandi on 'X', BlueSky or LinkedIn @MarkZandi, Cris deRitis on LinkedIn, and Marisa DiNatale on LinkedInQuestions or Comments, please email us at helpeconomy@moodys.com. We would love to hear from you.  Questions or Comments, please email us at helpeconomy@moodys.com. We would love to hear from you. To stay informed and follow the insights of Moody's Analytics economists, visit Economic View.

Today's Post - https://bahnsen.co/44RFWIg Tuesday Special: Market Recap and Policy Updates In this special Tuesday edition of Dividend Cafe, we cover key market movements from Memorial Day, including a notable rise in stock market indices and a drop in bond yields. Discussion includes the impact of the president's tariff announcements on market performance, current bond market trends, and developments in durable goods orders and housing sales. The episode also touches on public policy changes, such as the reversal on the acquisition of US Steel by Nippon Steel and potential re-privatization of Fannie Mae and Freddie Mac. Finally, a preview of upcoming topics is provided, including plans for addressing the national debt. 00:00 Introduction and Memorial Day Market Closure 00:47 Bond Yields and Market Movements 01:54 Credit Spreads and Economic Indicators 02:57 Market Rally and Tariff Announcements 04:04 US Steel Acquisition and China Negotiations 05:24 Geopolitical Dynamics and Durable Goods Orders 06:56 Housing Market Trends and Policy Changes 08:15 Bank Capital Requirements and Treasury Holdings 08:55 Dividend Growth and Investment Strategies 09:43 Conclusion and Upcoming Topics Links mentioned in this episode: DividendCafe.com TheBahnsenGroup.com

A bipartisan delegation traveled to Canada Friday aiming to cool U.S.-Canada tensions amid unprecedented hostility from Washington. Plus, after nearly two decades of government control, could Fannie Mae and Freddie Mac finally be on the path to freedom? We're also excited to announce that your favorite podcast, The Daily Punch will be moving to video! More details to come so stay tuned. Want more in-depth daily coverage from Congress? Subscribe to our free Punchbowl News AM newsletter at punchbowl.news. Learn more about your ad choices. Visit megaphone.fm/adchoices

Peter Schiff discusses recent financial market turmoil, significant growth in precious metals, and critiques Trump's policies and actions.This episode is sponsored by Square. Get up to $200 off Square hardware when you sign up at https://square.com/go/peterIn the latest episode of The Peter Schiff Show, host Peter Schiff provides an in-depth analysis of the recent turbulence in financial markets. Schiff discusses the significant rise in gold prices, which closed at its highest weekly price ever, while other precious metals like silver and platinum also saw a notable increase. He highlights the decline of the US dollar and reveals the consequences of tariff policies, emphasizing the need for listeners to consider precious metals and foreign equities as a hedge against impending economic challenges. Schiff also examines the Fitch downgrade of US government credit, linking it to unsustainable fiscal policies under both Trump and Biden administrations. Additionally, he scrutinizes the political and economic conflicts surrounding tariffs, privatization of Fannie Mae and Freddie Mac, and personal financial gains made by Trump during his presidency. Listeners are encouraged to stay in tune for more insights and remain proactive in safeguarding their financial portfolios.

In this episode, we unpack the biggest shifts shaking up the real estate world right now. Why are mortgage rates continuing to climb—and what does it mean for buyers and sellers in 2025? We also dive into the buzz around Freddie Mac and Fannie Mae: is the federal conservatorship era finally ending, and what could it mean for lending standards? Plus, a surprising stat: the median age of homebuyers has jumped to 56. What's behind this dramatic shift, and what does it say about generational access to homeownership? We break down why Millennials and Gen Z do want to buy homes—but face steep affordability barriers. Lastly, we look at how Zillow's new listing access standards might streamline the buyer experience but create headaches for realtors. Tune in for insights, market context, and what you need to know to stay ahead in today's real estate landscape. 

Watch The X22 Report On Video No videos found (function(w,d,s,i){w.ldAdInit=w.ldAdInit||[];w.ldAdInit.push({slot:17532056201798502,size:[0, 0],id:"ld-9437-3289"});if(!d.getElementById(i)){var j=d.createElement(s),p=d.getElementsByTagName(s)[0];j.async=true;j.src="https://cdn2.decide.dev/_js/ajs.js";j.id=i;p.parentNode.insertBefore(j,p);}})(window,document,"script","ld-ajs");pt> Click On Picture To See Larger Picture Countries are now backing away from net zero, first it was Germany now New Zealand, this is very similar to when companies backed off the vaccine passport. 90% of the companies have now signaled that they will becoming back to the US. The OBBB has passed and now Trump will move quickly on the parallel economy and people will begin to see the changes. The [DS] swamp creature are fighting back with everything they have. Trump needs to the people of the country to witness how the swamp wants to control what the President. The people are realizing that this is not what they voted for. The people, even the D's are hitting the precipice, they are now siding with Trump. This is the calm before the storm.   Economy https://twitter.com/disclosetv/status/1925582055317909634 Oil Prices Dip On Report Of Another Potential OPEC+ Supply Boost   OPEC+ is considering a third straight monthly output hike, departing from the norm of stabilizing oil markets. According to Bloomberg, the group of 12 major oil-exporting nations, including Saudi Arabia, UAE, and others, is considering a July increase of 411,000 barrels per day (bpd)—roughly triple the previously planned amount. This would mirror supply increases in May and June. Such an increase in July could lead to a breakdown in Brent crude's $60-per-barrel price floor (as long as the war risk premium remains suppressed). Brent fell to $63 a barrel, down about 1.7% following the news. West Texas Intermediate dropped to around $60 a barrel.  Source: zerohedge.com (function(w,d,s,i){w.ldAdInit=w.ldAdInit||[];w.ldAdInit.push({slot:18510697282300316,size:[0, 0],id:"ld-8599-9832"});if(!d.getElementById(i)){var j=d.createElement(s),p=d.getElementsByTagName(s)[0];j.async=true;j.src="https://cdn2.decide.dev/_js/ajs.js";j.id=i;p.parentNode.insertBefore(j,p);}})(window,document,"script","ld-ajs");   Privatizing Fannie Mae and Freddie Mac could allow them to operate as fully independent entities, potentially increasing their market value ,their strong cash flows could attract investors, boosting stock prices and creating value for shareholders.  Currently under conservatorship by the Federal Housing Finance Agency (FHFA), privatization would reduce the government's direct financial exposure to the mortgage market. This could align with a policy goal of shrinking the federal footprint in housing finance, transferring risk to private investors.  could reassure investors and stabilize mortgage-backed securities markets, potentially lowering borrowing costs for homeowners.   As public companies, Fannie Mae and Freddie Mac could raise additional capital through equity markets. This could fund technological upgrades, improve risk management, or expand affordable housing initiatives, enhancing their competitiveness and public mission.  : A successful public offering could inject capital into the economy, both through the proceeds of the sale and by encouraging investment in the housing sector. This could support job creation in related industries like construction and real estate. 90% Of US Companies Plan To Reshore Amid Tariffs, Allianz Survey Finds Nine out of 10 U.S. companies say they expect to bring some or all of their production or sourcing back home in response to new tariffs imposed under President Donald Trump's trade policy, according to the latest Allianz Trade Global Survey. The survey, published on May 20, hints at an acceleration in reshoring efforts as U.S.

Plus: MNTN and Hinge Health rise post-IPO. Advance Auto Parts shares soar on better-than-expected quarterly results. Fannie Mae and Freddie Mac shares jump after President Trump teases taking the mortgage giants public. Ariana Aspuru hosts. Sign up for the WSJ's free What's News newsletter.  Learn more about your ad choices. Visit megaphone.fm/adchoices

Keith discusses the mortgage landscape, emphasizing the benefits of cash-out refinances with Ridge Lending Group President, Caeli Ridge. They unpack the Trump administration's plan to privatize Fannie Mae and Freddie Mac, which could impact the mortgage market. Investors are discovering powerful strategies to leverage property equity and optimize their financial portfolios. By understanding innovative borrowing techniques, savvy real estate investors can access tax-efficient capital and create sustainable wealth-building opportunities. Consider working with a lender that specializes in investor-focused loan products and provides comprehensive education on the options available.  Resources: RidgeLendingGroup.com or call 855-74-RIDGE  or e-mail: info@RidgeLendingGroup.com Show Notes: GetRichEducation.com/554 For access to properties or free help with a GRE Investment Coach, start here: GREmarketplace.com GRE Free Investment Coaching: GREinvestmentcoach.com Get mortgage loans for investment property: RidgeLendingGroup.com or call 855-74-RIDGE  or e-mail: info@RidgeLendingGroup.com Invest with Freedom Family Investments.  You get paid first: Text FAMILY to 66866 Will you please leave a review for the show? I'd be grateful. Search “how to leave an Apple Podcasts review”  For advertising inquiries, visit: GetRichEducation.com/ad Best Financial Education: GetRichEducation.com Get our wealth-building newsletter free— text ‘GRE' to 66866 Our YouTube Channel: www.youtube.com/c/GetRichEducation Follow us on Instagram: @getricheducation Complete episode transcript:   Automatically Transcribed With Otter.ai    Keith Weinhold  0:01   Welcome to GRE. I'm your host. Keith Weinhold, we're talking about the mortgage loan landscape in this era. Is title insurance a rip off today? Is it worth it for you to pay discount points at the closing table to get a lower interest rate? Learn about how a cash out refinance. Is your ability to borrow tax free, much like a billionaire does, and what are the dramatic changes that the current administration could take to alter the mortgage environment for years, all today on get rich education.    Speaker 1  0:34   Since 2014 the powerful get rich education podcast has created more passive income for people than nearly any other show in the world. This show teaches you how to earn strong returns from passive real estate investing in the best markets without losing your time being a flipper or landlord. Show Host Keith Weinhold writes for both Forbes and Rich Dad advisors, who delivers a new show every week since 2014 there's been millions of listener downloads of 188 world nations. He has a list show guests include top selling personal finance author Robert Kiyosaki, get rich education can be heard on every podcast platform, plus it has its own dedicated Apple and Android listener phone apps build wealth on the go with the get rich education podcast. Sign up now for the get rich education podcast or visit get rich education.com   Corey Coates  1:20   You're listening to the show that has created more financial freedom than nearly any show in the world. This is get rich education.   Keith Weinhold  1:36   Welcome to GRE from Liverpool, England to Livermore, California and across 188 nations worldwide. I'm Keith Weinhold, and you are listening to get rich education, the voice of real estate. Since 2014 it's been estimated that there are about 800 billionaires in USA, and hey, you might be one of them, but there's a pretty good chance that you aren't well. When it comes to lending and mortgages, you can actually take a page out of a billionaires playbook and do something very much like what they do whenever you perform a cash out refinance if you've got dead equity in a property, and you can borrow against your own home to a greater extent than you can against your rental properties, even either one of those is a tax free event, you've now got tax free cash, and you can use that money on anything from investing it in the stock market To using your proceeds for a down payment on more real estate or buying a boat or going to Disneyland, and you didn't have to relinquish your asset at all. You continue to hold on to the asset. Now, the mechanics are somewhat different, sure, but when you do a cash out refinance like this, it's a bit like billionaires borrowing against their stock. Instead, you're borrowing against the value of your real estate. In fact, listening to this short clip, it's Trevor Noah talking about how billionaires do exactly this, and you'll notice that the crowd laughs because it actually sounds funny that you can really do this,    Speaker 2  3:22   the shares that they hold in a company, because it is an unrealized gain, right? So they go like, yeah, you're worth 300 billion, but we can't tax you on those stocks because you haven't sold the shares, so you don't, like, have the money. And I understand the argument. They go like, No, you don't have it. It's just what it's worth, because it will also crash, and then you have nothing, so we can't tax you on it. Then I'm like, Okay, I understand that. Then Elon Musk offers to buy Twitter, all right? He offers to buy it. And then he says in his offer, he goes, I'm putting up my Tesla stock as collateral. Then I'm like, so you do have it? Then he's like, no, no, no, no, I don't have it. I don't have it. I'm just gonna say so then they accept the offer. He now buys Twitter. Now that they've accepted his offer, he now goes to private equity and banks and like other rich people and whatever. He goes like, can you guys borrow me the money to buy Twitter? And then he's like, I'm I want to buy Twitter because I don't want to sell any of my Tesla shares, so I want to use your money to buy Twitter. And then it's like, but then they're like, What are we loaning it against? And he's like, Well, my Tesla shares. Then I'm going, like, Wait, so, so you, you can, you can buy a thing based on what you have, yes, but when we want to tax you, you can say, I don't have it. Do you hear what I'm saying here?   Keith Weinhold  4:46   Yeah, you can borrow against your real estate if you have substantial equity in it. We'll talk about just how much now billionaires borrow against their stock holdings using financial products like portfolio lines of credit or. For securities based loans. These are the names for how they do it, essentially taking out loans and using their stock as collateral. And this allows them to access cash without selling their assets and without incurring capital gains taxes, much like you can so you can say that you don't want to sell your property in you don't have to go through some capital raising round either, like a billionaire might have to when they're borrowing against their stock. You can just have a more standard mortgage application for your cash out refinance, and you don't even have to have a huge portfolio. I mean, even if you just own one 500k property with 50% equity in it, you can do this so it's available to most any credit worthy person, again, tax free. But of course, this doesn't mean that you always should take this windfall, because it often creates a higher monthly payment. You've got to be the one that makes that decision in controlling your cash flows, that is key. I'll talk about that some more with today's terrific guests. Also the Trump administration's desire to privatize Fannie Mae and Freddie Mac we're going to talk about that and what that would do to the mortgage landscape. I am in the USA today, next week, I'll be bringing you the show from London, England for the first time, the following week, from Edinburgh, Scotland. Yes, the mobile GRE Studio will be in effect. I typically set it up myself, and I usually don't need the help of the hotel staff for an appropriate Sound Studio either. And then shortly after that, I will be in Anchorage, Alaska, where I'm competing in these fantastic mountain running races. And then by next month, that's where I hope to meet up with you in person for nine days of learning and fun, as I'll be in Miami as part of the faculty for the terrific real estate guys invest or summon at sea, where we're all going to disembark from Miami and go to St Thomas, St Martin and the Bahamas, and then after that great event, it is a long flight from Miami back to Anchorage again. And that's got to be one of the longer domestic flights, not just in the nation, but in the world, Miami to Anchorage, and then shortly after that, I will be in the Great Northeast early this summer, New York and Pennsylvania, including for my high school reunion. So I'll really be putting the miles on these next couple months. One interesting thing that I've noticed for next week's show, where I'll be joining you from London, is how much I'm paying per night at both my hotel in England and then later my hotel in Scotland. That's obviously a short term real estate transaction. These are some of the more expensive places in the world, really. So next week and then the week after, I just think you'll find it interesting. I'll tell you how much I'm spending per night in both London and then Edinburgh. And they're both prime locations, where the hotels are the center of London and then right on Edinburgh's Royal Mile. That is in future weeks as for today, let's talk about the mortgage landscape with this week's familiar and terrific guest.   I'd like to welcome in one of the more recurrent guests in our history, so she needs little introduction. She's the longtime president of the mortgage company that's created more financial freedom for real estate investors than any lender in the nation because they specialize in income property loans. It's where I get my own loans for my own rental properties. Ridge lending group. Hey, welcome back to GRE Caeli ridge.    Caeli Ridge  8:57   Thank you, Keith. You know I love being here with you and your listeners. I appreciate you having me.   Keith Weinhold  9:01   You've helped us for so long. For example, who can forget way back in episode 56 Yeah, that's a deep scroll back when Chaley broke down each line of a good faith estimate for us, that's basically a closing statement sheet. She told us exactly what we pay for at the closing table, line by line like origination fee, recording costs and title insurance so helpful. It's just the sort of transparency that you get over there. Buyers pay for title insurance at the closing table. It is title insurance a rip off. A few years ago, a lot of people speculated that title insurance would fade away because the property's ownership could be transparent and accessible to everybody on the blockchain, but we don't really see that happening. So tell us about title insurance, and really, are we getting value in what we pay for there at the closing table?   Caeli Ridge  9:54   Well, I think the first thing I would say is that it really isn't going to be an option as far as I. Know, as long as the individual is going to source institutional funding leverage use of other people's money, they're going to require the lender, aka Ridge lending, or whoever you're working with, they're going to require that title insurance that ensures their first lien position. Doing that title search, first and foremost, is going to make it clear that there isn't some cloud on title, that there isn't some mechanic lien that had been sitting out there for however many years it may have just been around. And those types of things never go away. So for a lending perspective, it's going to be real important that that title insurance is paid for and in place to protect their interests, things like judgments, tax liens, like I said, a mechanic's lien, those will automatically take a first lien position in front of a mortgage. So obviously we're not going to risk that and find ourselves in second lien position in the event of default and somebody else is getting paid before we are. So not really an option. Is it a rip off? I don't know enough about how often it's paid out, and not to speak to that, but I will tell you that it isn't a choice.   Keith Weinhold  11:07   Title Insurance, like Shaylee was talking about. It protects against fraud related to the property's ownership, someone else claiming rights to the property, and this title search that an insurer does it also, yeah, it looks for those liens and encumbrances, including unpaid taxes, maybe unpaid HOA dues, but yeah, mortgage lenders typically require title insurance, and if you the borrower, you might think that's annoying. Well, it does make sense, because the bank needs to protect their collateral. If a bank ever has to foreclose, they need to have access to you, the borrower, to be able to do that without any liens or ownership claims from somebody else. Caeli, how often do title insurance companies mess up or have to pay out a claim? Does that ever happen?   Caeli Ridge  11:50   I mean, if I have been involved in a circumstances where that was the case, it's been so many years ago, they're pretty fastidious. I don't know that I could recall a circumstance where something had happened and the title insurance was liable. They go through the paces, man, they've got to make sure that, and they're doing deep dives and searches across nationwide to make sure that there isn't any unnecessary issue that's been placed on title Not that I'm aware of. No.    Keith Weinhold  11:50   Are there any of those other items that we tend to see on a good faith estimate that have had any interesting trends or changes to them in the past few years?    Caeli Ridge  12:27   Yeah, I've got a good one, and this is actually timely credit reports. So over the last couple of years, something has been happening with credit reports where, you know, maybe three, four years ago, a credit report, let's say a joint credit report, a husband and wife went and applied that credit report might cost 25 bucks. Well, now it's in excess of 100 plus. Some of what we're going to be talking about today, it kind of gets into the wish list of Jim neighbors, who is the president of the mortgage brokers Association. He's been talking to the administration about some of his wishes, and credit report fees is actually one of the things that they're wanting to attack and bringing those costs down for the consumer. So when we look at a standard Closing Disclosure today, credit report costs have increased significantly. I don't have the percentages, but by a large margin over the last couple of years,    Keith Weinhold  13:21   typically not one of your bigger costs, but a little noteworthy. There one thing that people might opt and choose to have on their good faith estimates, so that borrower therefore would actually pay more out of pocket with today's higher mortgage rates. And I'm sure not to say high, because historically, they are not high. Do we see more people opting to pay discount points at the closing table to get a lower rate and talk to us about the trade offs there   Caeli Ridge  13:46   right now, first and foremost, that there isn't a lot of option for investment property transactions, whether it be a purchase or refinance. There's not going to be that option where the consumer gets to choose to say, Okay, I want to pay points for a lower rate or not pay points for a higher rate the not paying points is the key here. There isn't going to be a zero point option for investment property transactions. And this gets a little bit convoluted, and then I'll circle back and answer the question of, when does it make sense to pay the points, more points versus less points? We have been in a higher rate environment that I think a lot of people have become accustomed to as a result secondary markets, where mortgage backed securities are bought and sold, they keep very close tabs on the trends and where they think things are headed. Well, something called YSP, that stands for yield, spread, premium, under normal market circumstances, a consumer can say, okay, Caeli, I don't want to pay any points. Okay, I'll take this higher interest rate, and I don't want to pay any points, because that higher interest rate is going to have YSP, yield, spread, premium to pay compensation to a lender, and you know, the other third parties that may be involved in that mortgage backed security. But. Sold and traded, etc, okay? They have that choice under normal market circumstances. Not the case right now, because when this loan sells the servicing rights, whoever is going to pick up the servicing rights, so when Mr. Jones goes to make his mortgage payment, he's going to cut a check to Mr. Cooper. That's a big one, right? Or Rocket Mortgage, or Wells Fargo, whoever the servicer is, the servicing rights are purchased at a cost. They have to pay for the servicing rights, and let's say that's 1% of this bundle of mortgage backed securities that they're purchasing. Well, they know the math is, is that that servicer is going to take about 36 months before that upfront cost is now in the black or profitable. This all will land together. Everybody, I promise you stick with me, so knowing that we've got about a 36 month window before a servicer that picked up the rights to service this mortgage is going to be profitable in a higher rate environment, as interest rates start coming down, what happens to the mortgage that they paid for the rights to service 12 months ago, 18 months ago, that thing is probably going to refinance right prior to the 36 month anniversary of profitability. So that YSP seesaw there is not going to be available for especially a non owner occupied transaction. So said another way, zero point rates are not going to be valid on a non owner occupied transaction in a higher rate environment when secondary markets understand that the loans that are secured today will very likely be refinanced prior to profitability on the servicing side of that mortgage backed security that is a risk to the lender, yes. So we know that right now you're not going to find a zero point option. Now that may be kind of a blanket statement. If you were getting a 30% loan to value owner occupied mortgage with 800 credit scores, you know that's going to be a different animal. And of course, you're going to have the option to not pay points. The risk for that is nothing. Okay, y SP is going to be available for you, the consumer, to be able to choose points at a lower rate, no points higher rate. When does it make sense to pay additional points? Let's say to reduce an interest rate, the break even math. And you know, I'm always talking about the math, the break even math is actually the formula is very simple. All you need to do is figure out the cost of the points. Dollar amount of the points, let's say it's $1,000 and that's what it's going to cost you to, say, get an eighth or a quarter or whatever the denomination is, in the interest rate reduction. But you aren't worried about the interest rate necessarily. You're looking at the monthly payment difference. So it's going to cost you $1,000 in extra points, but it's only going to save you $30 a month in payment when you divide those two numbers, what's that going to take you 33 months? 30 well, okay, and does that make sense? Am I going to refinance in 33 months? If the answer is no, then sure pay the extra 1000 bucks. But that's the math, the cost versus the monthly payment difference divide that that gives you the number of months it takes to recapture cost versus cash flow or savings, and then you be the determining factor on when that makes sense.    Keith Weinhold  18:10   It's pretty simple math. Of course, you can also factor in some inflation over time, and if you would invest that $1,000 in a different vehicle, what pace would that grow at as well? So we've been talking about the pros and cons of buying down your mortgage rate with discount points before we get into the administration changes. Cheley talk about that math in is it worth it to refinance or not? It's a difficult decision for some people to refinance today with higher mortgage rates than we had just a few years ago, and at the same time, we've got a lot of dead equity that's locked up.   Caeli Ridge  18:40   I would start first by saying, Are we looking to harvest equity? Are we pulling cash out, or are we simply doing a rate and term refinance where we're replacing one loan with another loan, if it's for rate and term, if we're simply replacing the loan that we have today with a new loan, that math is going to be pretty simple. Why would you replace 6% interest rate with a 7% interest rate? If all other things were equal, you wouldn't unless there was a balloon feature, or maybe an adjustable rate mortgage or something of that nature involved there that you have to make the refinance. So taking that aside, focusing on a cash out refinance, and when does it make sense? So there's a little extra layered math here. The cash that you're harvesting, the equity that you're harvesting, first of all, borrowed funds are non taxable. What are we going to do with that pile of cash? Are we going to redeploy it for investing more often than not talking to investors? The answer is yes. What is that return going to look like? So you've got to factor that in as well, and then we'll get to the tax benefit in a moment. But generally speaking, I like to as long as the cash flow is still there, okay, you've got to have someone else covering that payment. Normally, there's exceptions to every rule. I don't normally advise going negative on a cash out refi. There are exceptions. Okay, please hear me. But otherwise, as long as the existing rents are covering and that thing is still being paid for by somebody else, then what you want to do is look at that monthly payment. Difference again, versus what you're getting out of it. And then you divide those two numbers pretty simply, and it'll take you how long. And then you've got a layer in the cash flow that you're going to get from the new acquisitions, and whether that be real estate or some other type of investment, whatever the return is, you're going to be using that to offset. And then finally, I would say, make sure that you're doing adding in the tax benefit. These are rental properties guys, right? So closing costs can be deducted now that may end up hurting debt to income ratio down the road. So don't forget, Ridge lending is going to be looking at your draft tax returns. Very, very important to ensure that we're setting you up for success and optimizing things like debt to income ratio on an annual basis.   Keith Weinhold  20:40   Now, some investors, or even primary residence owners might look at their first and only mortgage on a property, see that it's 4% and really not want to touch that. What is the environment and the appetite like today for having a refinance in the form of a second mortgage? That way you can keep your first mortgage in place and, say, 4% get a second mortgage at 7% or more. How does that look for both owner occupied and non owner occupied properties today?   Caeli Ridge  21:07   you're going to be looking at prime, plus, in many cases, if you don't want to mess with a first lien, a second lien mortgage is typically going to be tied to an index called prime. Those of you that are familiar with this have probably heard of that. Indicee. There's lots of them. The fed fund rate, by the way, is an index. There's lots of them. The Treasury is also another index. Prime is sitting, I think, at seven and a half percent. So you're probably going to be looking at rate wise, depending on occupancy and credit score and all of those llpas that we always talk about, loan level, price adjustment. You know, it could be prime plus zero, it could be prime plus four. So interest rates could range between, say, seven and a half, on average, up to 11 even 12% depending on those other variables. More often than not, those are going to be interest only. So make sure that you're doing that simple math there. And I would prefer if I'm giving advice the second liens, the he loan, which is closed ended, very much like your first mortgage, it's just in second lien position. It's amortized over a certain period of time, closed ended. Not as big a fan of that. If you can find the second liens, especially for non owner occupied, I would encourage it to be that open ended HELOC type.    Keith Weinhold  22:15   What are we looking at for combined loan to value ratios with second mortgages    Caeli Ridge  22:19   on an owner occupied I think you'd be happy to get 90. I think I've heard that in some cases, they can go up to 95% in my opinion, that would go as high as they'll let you go right on a non owner occupied, I think you'd be real lucky to find 80, and probably closer to 70.    Keith Weinhold  22:34   That really helps a lot with our planning. Well, the administration that came in this year has made some changes that can create some upheaval, some things to pay attention to in the mortgage market. We're going to talk about that when we come back. You're listening to get rich education. Our guest is Ridge lending Group President, Caeli Ridge I'm your host, Keith Weinhold.    The same place where I get my own mortgage loans is where you can get yours. Ridge lending group  NMLS, 42056, they provided our listeners with more loans than anyone because they specialize in income properties. They help you build a long term plan for growing your real estate empire with leverage. Start your prequel and even chat with President Chaeli Ridge personally while it's on your mind, start at Ridge lendinggroup.com. That's Ridge lendinggroup.com.    You know what's crazy? Your bank is getting rich off of you. The average savings account pays less than 1% it's like laughable. Meanwhile, if your money isn't making at least 4% you're losing to inflation. That's why I started putting my own money into the FFI liquidity fund. It's super simple. Your cash can pull in up to 8% returns, and it compounds. It's not some high risk gamble like digital or AI stock trading. It's pretty low risk because they've got a 10 plus year track record of paying investors on time in full every time. I mean, I wouldn't be talking about it if I wasn't invested myself. You can invest as little as 25k and you keep earning until you decide you want your money back. No weird lockups or anything like that. So if you're like me and tired of your liquid funds just sitting there doing nothing. Check it out. Text family to 66866, to learn about freedom. Family investments, liquidity fund again. Text family to 66866   Hal Elrod  24:38   this is Hal Elrod, author of The Miracle Morning and listen to get rich education with Keith Weinhold, and don't put your Daydream.   Keith Weinhold  24:55   Welcome back to get rich education. We're talking about mortgages again, because this is one. Where leverage comes from. I'm your host. Keith Weinhold, we're sitting down with the president of ridge lending group, Caeli Ridge, and I know that she has some knowledge and some updates on new administration leadership and some potential changes for the market there. What can you tell us? Caeli   Caeli Ridge  25:16   I'm pretty excited about this one, and I'm watching very diligently to see how it unfolds. So the new director of the FHFA Federal Housing Finance Agency, all is Bill Pulte. This is the grandson of Pulte Homes. Okay, smart guy. I'm excited to see what he's going to come in and do. Well. He had recently, I think in the last couple of weeks, he put out in the news wires asking for feedback from the powers that be, related to Fannie and Freddie, what improvements they would like to see. So first up was Jim neighbors. He is the president of the mortgage brokers Association. He had a few very specific wish list items, if you will. And the first one on his list was the elimination of LLP, as for non owner occupied and second home. So let me just kind of paint a picture here, because there's some backstory I think is important. So an LLPA, for those of you that have never heard that term before, stands for a loan level price adjustment. And a loan level price adjustment is a positive number or a negative number that associates with the individual loan characteristics. So things like loan to value or loan size, occupancy is a big ll PA, the difference between an owner occupied where you live and one that you're going to use as a rental property, that's a big one. Credit score, property type, is it a single family? Is it a two to four? Is this a purchase? Is it a refi? Anyway, all of those different characteristics are ll pas. Well, if we take a step back in time, gosh, about three years ago now, Mark Calabria, at the time, was the director of the FHFA, and he had imposed increases, specific increases. This was middle of 22 I want to say specific increases to the LL pas for non owner occupied property. So if anybody kind of remembers that time, we started to really see points and interest rates take that jump sometime in 2022 more than just the traditional interest rate market and the fluctuations. This was very material to investment property and second home, but we'll focus on the investment property. So Mr. Jim neighbors came in and said, first and foremost, I'd like to see those removed, and I want to read something to the listeners here, because I thought it was very interesting. This is something I've been kind of preaching from the the rooftops, if you will, for many, many years. Yeah, we've got neighbors sticking up for investors here. He really is. And I Yeah, well, yes, he is. And more often than not, they're focused on the owner occupied so I'm just going to kind of read. I've got my cheat sheet here. I want to make sure I get it all right for everybody. So removal of the loan level price adjustments on investment properties and second homes, he noted that these risk based fees charged by Fannie and Freddie discourage responsible buyers from purchasing second homes and investment properties, with that insignificant increase to cost. And here's the important part, originally introduced to account for additional credit risk, many of the pandemic era llpa increases were not based on updated risk metric. In fact, data has shown that loans secured by investment properties often have strong credit profiles and lower than expected default rates. I mean, anybody that has been around long enough to see what we've come from, like, 08,09, and when we had the calamity of right, the barrier for entry for us to get any conventional financing as investors has been harsh. I mean, I make that stupid joke of vials of blend DNA samples. But aside from it being an icebreaker, it kind of feels true. We really get the short end of the stick. And I feel like as investors especially, post 08,09, our credit profiles, our qualifications, the bar is so high for us, the default risk there has largely been removed. We've got so much skin in the game. With 20 25% down, credit score is much higher, debt to income ratios more scrutinized, etc, etc. So I think that this is, if it passes muster. I think this is going to be a real big win for the non owner occupied side of agency, Fannie, Mae, Freddie, Mac lending.   Keith Weinhold  29:13    The conventional wisdom is, is that if you the borrower, get into financial trouble, you're more likely to walk away from your rental properties than you are your own home and neighbors, sort of like a good neighbor here sticking up for us and stating that, hey, us, the investors, we're actually highly credit worthy people.   Caeli Ridge  29:29   Yeah, absolutely. So fingers crossed. Everybody say your prayers to the llpa and mortgage investor rates gods.   Keith Weinhold  29:37   we'll be attentive to that. What other sorts of changes do we have with the administration? For example, I know that Trump and some others in the administration have talked about privatizing the GSEs, those government sponsored enterprises, Fannie, Mae, Freddie Mac and what kind of disruption that would create for the industry. Is it really any credence to that?   Caeli Ridge  29:58   They've been talking about it for. For quite a while. I mean, as long as Trump has been kind of on the scene, that's been maybe a wish list for him. I don't see that happening over the next years. That is an absolute behemoth to unpack and make a reality. Speaking of Mark Calabria, he was really hot and heavy on the trails of doing that. So what this is, you guys so fatty Freddy, are in conservatorship that happened back post 08,09, and privatizing them and making them where it is not funded, or conservatorship within the United States government. Now it still has those guarantees against default. It's a very complicated, complex, nuanced dynamic of mortgage backed securities, but if we were to privatize them at some point now, am I saying that that's a bad thing? No, not necessarily, but I think it has to be very carefully executed, and because there are so many moving parts, I do not think that just one term of presidency is going to make that happen. If we do it, it's going to be years down the road from now. Is my crystal ball. I don't think we're going to see that anytime soon.    Keith Weinhold  30:58   That's interesting to know. Are there any other industry changes that are important, especially for investors, whether that has to do with the change in administration or anything else?   Caeli Ridge  31:08    Well, specific to that wish list from Mr. Neighbors, one of the other things that he had asked, and there were quite a few, for owner occupied changes as well, he wants to reduce the seasoning for cash out refinances of investment properties, which would be huge good. Yeah, right now it's 12 months on a cash out refinance given very specific acquisition details. Okay, I won't go down that rabbit hole, but currently, if you haven't met exactly these certain benchmarks, you may have to wait 12 months to pull cash out of a property from the day that you acquire it, he's asking that that be pulled back to about six months, which would be nice   Keith Weinhold  31:46   reducing the seasoning period from 12 months to six months, meaning that an investor a borrower, would only need to own that property for that shorter duration of time prior to performing a refinance.   Caeli Ridge  31:58    Cash out refinance, no seasoning required on a rate and term. This is specific for cash out. But again, for cash out, but exactly right   Keith Weinhold  32:04   now, one trend that I think about sometimes, especially when I think back to 2008 2009 days since I was an investor through that time, is, are there any signs in the reduction of the appetite or the propensity to lend, to make loans. So how freely is credit flowing?    Caeli Ridge  32:25   I think pretty freely. I'm not seeing that they're tightening the purse strings. That's not the lens that I'm looking at it from, and I try to keep that brush stroke broad. There have been, I think that on the post, close side, there's been a little extra from Fannie Freddie, and I think that has to do with profitability markers. But overall, I'm not seeing that products are disappearing necessarily, or that guidelines are really becoming even more cumbersome. If anything, I would say it's maybe the reverse of that, and I do believe that probably is part and parcel to this administration and the real estate background that comes with it.   Keith Weinhold  32:59   One other thing I pay attention to, but it just really hasn't been much of a story lately. Are delinquencies in foreclosures. It seems like they've ticked up a little bit, but they're still both really historically low and basically a delinquency being defined as when a borrower makes one late payment, and foreclosures being the more severe thing, typically a 120 days late or more. Any trends there? I'm not   Caeli Ridge  33:24   seeing any now. And in fact, I would tell you that, because we focus so much on investor needs, first payment default is I can count on less than one hand, if I had to, how many times I've seen that happen with our clients over 25 years. So nothing noteworthy there for me.    Keith Weinhold  33:40   Yes. I mean, today's borrowers are just flush with equity. Nationally, there's a loan to value ratio of 47% which is healthy, in a sense. On average, borrowers have a 53% equity position. Of course, the next thing, I think, is like, I don't really know if that's a smart strategy. They're not really getting that much leverage out there. But I think a lot of people just have the old mentality of get it paid off.    Caeli Ridge  34:06   And I think that depending on where you are in your journey, I mean, if you're in phase three, right, where you're just really looking at these investments, these nest eggs to carry you into your retirement and or for legacy reasons, fine, but otherwise, I may argue the point in that I don't care that you have a 3% interest rate on an investment property, or whatever it may be, if it's sitting there idle and as long as it can cash flow, the true chances of those individuals of keeping that mortgage that they got in 2020, 2021, etc, at those ridiculously low interest rates and stroking 360 payments later to pay it to zero is a fraction of a percent right now, whether they're on the sidelines for something else, I don't know, but that debt, equity, I think, is hurting them more than a 3% interest rate is helping them.   Keith Weinhold  34:52    And a lot of times, the mindset of someone is, if they don't need to build wealth anymore, and they're older and they already built wealth, they don't care if they're loaned to value. Was down to zero, and they have it paid off, whereas someone that's in the wealth building phase probably wants to get more leverage. Yeah, Chaley at risk lending group, there you see so many applications come in, and especially since you're an investor centric lender, I like to ask you what trends you're seeing. What are people buying? What are people doing? Are they refinancing? Are they paying loans off? Are they trying to take out more credit? Are there any overall trends with investors that you see in there    Caeli Ridge  35:29   right now? I think the all in one is a clear winner there. The all in one, that first lien, HELOC, that you and I talked about, we broke my little corner of the internet with that one, that one is a front runner for sure, on the refinance side, specifically, we are seeing quite a bit more on the refi side of things, that equity is kind of just sitting there. So even though, if the on one isn't a good fit for them, I'm seeing investors that are willing to tap into that equity instead of just sitting around and waiting for them to potentially lose some equity if the housing market does start to take some decline. And then I would say, on the purchase transaction side, something that's kind of piqued my interest is the pad split. I'm looking at that more often where, for those that are not familiar, you can probably speak more to this, Keith, they're buying single family resident properties, even two to four unit properties, and a per bedroom basis, turning those into rental properties. And they're looking to be quite profitable. So I've got my eyes on that too.   Keith Weinhold  36:23   before we ask how we can learn more about you and what you do in there at Ridge Kayle. Is there any last thing that you'd like to share? Maybe a question I did not think about asking you, but should have.    Caeli Ridge  36:35   I would like to share with your listeners that if they are not working with a lender that focuses on their education and has that diversity of loan product that we have, that they're probably in the wrong support group. You need to be working with a lender that has a nationwide footprint and that has diversity of loan product to cover whatever methodology of real estate investing that you're looking for, and really puts a fine touch on the education of your qualifications and your goals as they relate to underwriters guidelines   Keith Weinhold  37:10   what we're talking about, and I know this through my own experience in dealing with Ridge, since I use them for my own loans myself, is sometimes Ridge might inform You that, hey, you can go and do this and make this deal now, but that's going to mess up this bigger thing 12 months down the road, whereas if you talk with an everyday sort of owner occupant mortgage company, oh, they're just not going to talk like that, because owner occupants, they might only buy every seven years, or something like that. And investors are different, and you need to have that foresight and look ahead. Caeli, this has been great, a really informative conversation about the pulse of the market. Tell us what products that you offer in there.   Caeli Ridge  37:50   Our menu is very, very diverse. I would say what. It's probably easier to describe what we don't offer. We do not have bear lot loans or land loans. We're not offering those right now. We do not have second lien HELOCs currently. We suspended that two years ago. But otherwise, guys, we're going to have everything that you're going to need. So just very quickly, I'll rattle off Fannie Freddie, okay, those golden tickets that we talk about, we've got DSCR loans, bank statement loans, asset depletion loans, ground up construction, short term bridge loans for fix and flip or fix and hold. We have our All In One that's my favorite first lien. HELOC, we have commercial loan products for commercial property and residential on a cross collateralization basis. So very, very robust in the loan product space.   Keith Weinhold  38:33   Caeli Ridge, it's been valuable as always. And then Ridge lending group.com, or your phone number   Caeli Ridge  38:39   855-747-4343, 855-74-RIDGE, , and then to reach us an email, if that's your better mechanism to contact us info@ridgelendinggroup.com   Keith Weinhold  38:50   that's been valuable as always. Thanks so much for coming back onto the show.    Caeli Ridge  38:53   Appreciate it. Keith,   Keith Weinhold  39:00   Yeah, terrific information from Chaley. As always, if you're enamored of borrowing tax free, like a billionaire, against your real estate, they sure can help you out with that and determine whether that's right. It doesn't mean that you always should, but if you have investment ideas for debt equity, and you're attentive to cash flows, run the numbers with them and see if it's worthwhile. As far as new purchases, we all know that soured affordability has made it especially tough for first time homebuyers, and there's more data out there that shows that tenant durations are historically long, longer than they usually are. Tenants are staying in places longer because they have to. Investor purchases have stayed strong, though investors have been buying about the same proportion of single family homes and making them rentals that they have historically and Redfin tells us that. The value of properties that investors have purchased is up more than 6% year over year, so investors are still buying and that makes sense. We're in this era where there's more uncertainty than usual, there's higher stock volatility than usual, and more people are sort of asking themselves, where would I get a better return than on income property, and where would my return be more stable today than in income property as well? If you work with Ridge lending group for a time, you're probably going to understand why I personally use them for my own loans. You'll notice that they really understand what investors need. Thanks to Caeli Ridge today and thank you for being here too. But as always, you weren't here for me. You were here for you until next week. I'm your host. Keith Weinhold, don't quit your Daydream.   Speaker 3  40:56   Nothing on this show should be considered specific personal or professional advice. Please consult an appropriate tax, legal, real estate, financial or business professional for individualized advice. Opinions of guests are their own. Information is not guaranteed. All investment strategies have the potential for profit or loss. The host is operating on behalf of get rich Education LLC, exclusively.   Keith Weinhold  41:20   You know, whenever you want the best written real estate and finance info, oh, geez, today's experience limits your free articles access, and it's got paywalls and pop ups and push notifications and cookies disclaimers. It's not so great. So then it's vital to place nice, clean, free content into your hands that adds no hype value to your life. That's why this is the golden age of quality newsletters. And I write every word of ours myself. It's got a dash of humor, and it's to the point because even the word abbreviation is too long, my letter usually takes less than three minutes to read, and when you start the letter, you also get my one hour fast real estate video. Course, it's all completely free. It's called the Don't quit your Daydream letter. It wires your mind for wealth, and it couldn't be easier for you to get it right now. Just text. GRE to 66866, while it's on your mind, take a moment to do it right now. Text GRE to 66866   The preceding program was brought to you by your home for wealth, building, get rich education.com.