Podcasts about gfci

types ground standards fault circuit interrupters gfci

Play Episode Listen Later Mar 6, 2025 42:32

SHOW NOTES: In today's show, we share special tributes and calls to remember the personal and professional legacy of Tom Kraeutler, including some of his answers to favorite home improvement questions. - Remembering Tom Kraeutler: Money Pit Co-Host Leslie Segrete speaks with some of our colleagues and partners to honor the special legacy of Tom Kraeutler. - Favorite Calls: Listen as we share Tom's expert advice to callers about some favorite home improvement questions. Q & A: GFCI Outlets: Pat is concerned about not having GFCI outlets on the kitchen counter. We explain how they work and why they're important in wet areas like kitchens and bathrooms. Deck Stain: Jeanie doesn't want to reapply deck stain every year. We recommend prepping the surface well and using an oil-based solid color stain that will last longer. Flooring: Moisture is coming up from the concrete slab under the carpet and linoleum. Russell gets tips for improving the outside drainage and installing new vinyl flooring. Refinishing Furniture: What's the best way to refinish oak furniture? It's a lot of work and Ruth may want to consider having a professional strip off the stain and refinish the wood surface. Electrical: Phillip has questions about installing smart switches in his home. We have recommendations for a line of smart home controls by Lutron products. ASK A QUESTION: Need help with your own home improvement or décor question? We'd love to help! Call the show 24/7 at 888-MONEY-PIT (888-666-3974) or post your question here: https://www.moneypit.com/ask. Learn more about your ad choices. Visit podcastchoices.com/adchoices

loved home improvements money pit lutron gfci tom kraeutler

Episode 671: GFCI: Ground-Fault Circuit Interrupter

Home Inspector Podcast

Play Episode Listen Later Jan 20, 2025 16:09

From the How to Perform Residential Electrical Inspections Course.In this chapter, we'll cover the following;Standards of PracticeHistoryHow does a GFCI work?Types of GFCI DevicesGFCI on 2-Wire CircuitsGFCI Location RequirementsBathroomBathtub and Shower Stall ReceptaclesGarage and Accessory BuildingsOutdoor GFCIsOutdoor Deck Outlet LaundryCrawlspace Unfinished BasementKitchenKitchen Dishwasher Branch CircuitIndoor Damp and Wet LocationsSink Boathouse Boat HoistElectrically Heated FloorsGFCI LocationsTesting GFCI Circuits

536: Why the Housing Crisis is Pushing Homelessness to Catastrophic Heights

Get Rich Education

Play Episode Listen Later Jan 13, 2025 39:55

Discover the latest global real estate trends and untapped investment opportunities. Keith uncovers high-yield new build rental properties that can deliver impressive returns, even in today's challenging market. Don't miss your chance to build lasting wealth through strategic real estate investing. Tune in now to get the insider insights you need to get ahead. The podcast dives into dramatic global real estate trends, with home prices skyrocketing over 10% in countries like Colombia and the Netherlands. It also examines the alarming rise in U.S. homelessness, driven by factors like housing shortages and inflation. To counter these challenges, the show spotlights compelling new-build rental properties that could offer attractive returns for passive investors. GRE Free Investment Coaching: GREmarketplace.com/Coach For access to properties or free help with a GRE Investment Coach, start here: GREmarketplace.com Show Notes: GetRichEducation.com/536 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 0:02 Welcome to GRE. I'm your host. Keith Weinhold, we look at global home price change, the asset class rundown, then the homelessness crisis is mega bad. It just reached new, unprecedented levels, and real estate and inflation has a lot to do with the homelessness surge today on get rich education. Speaker 1 0:28 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. Guess who? 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 1:13 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 1:29 Welcome to GRE from Kent Washington to Tashkent, Uzbekistan and across 188 nations worldwide. I'm Keith Weinhold, and you are listening to get rich education. One reason for a not just national, but global, rise in real estate prices is that you can't fake it. Real property is not a derivative, yeah, you can't fake it. So this really emphasizes the word real in real estate. It's not a crypto within infinite supply. It's not an NFT. You can't fake construction. You can't fake real materials put into property, from concrete to kitchen cabinets. So in the year recently ended, as we catch up to global home prices and select nations, per Fitch Ratings. Let's do that because it was not just a US centric thing. In the Netherlands, the home price change last year was 13% you had that much appreciation in the Netherlands. Colombia, 10% Mexico up 9.3% Brazil had 8% home price appreciation. Australia, 5.2% Australia has just seen year over year home price appreciation for such a long time. The UK had 5% appreciation. Spain, 5% as well. The USA, 4% just like I predicted at the end of 2023 for 2024 It did indeed come in at 4% Canada also had exactly 4% home price appreciation last year, just like the USA did. Denmark 3% Italy and Japan each at two and a half percent. Germany home prices were up just one and a half percent. And France had home prices that fell 3% China had home prices that fell 7.8% that supply versus demand thing in China, where they massively overbuilt, that's why home prices are down there. And as I unveil the depths of the USS homelessness crisis later here on the show, you will see that, yeah, those appreciated real estate prices, like I just mentioned, they have a lot to do with it. Now you might think of the youngest generation, the generation after Gen Z, as generation alpha, and that is true. However, they are no longer the youngest generation, because the babies born on New Year's Day of this year not only got to be featured in feel good local news stories. You know what? They are, also the first members of generation, beta, yeah, which will include children born from 2025 through 2039 so that is the future and the future demographic that's going to demand housing. But first of all, let's look at a year that was yes for years here on the show, we have our asset class rundown shortly after most quarters end, and certainly after a year ends. And today is no different, and this is because at times you've got to compare real estate with the other investment options that are out there. We now have music to play for our asset class rundown feature each time for today and. Future shows. And I know the GRE sound engineer has got to like this. He's also a DJ dropit, Vedrand. Here is GRE 's asset class rundown for the 12 months of last year, residential real estate values were up 4% per the NARS. Single Family existing home price, like I said earlier, single family rents up about 2% per core logic, apartment rents pretty flat, down six tenths of 1% for the year per apartment list, office buildings were down in value 9% the 30 year fixed rate mortgage. It started last year at 6.6% everyone, I mean, everyone, thought that they would go lower, but nope, they ended at 6.9% a little higher. That's per Freddie Mac survey. The s5&p 100 index was up over 23% topping out at 6100 last year. That is the first time the s&p has been up 20% plus in back to back years since 1998 and the s&p is meant to represent 500 companies, but it has become so concentrated due to the rise of the Magnificent Seven stocks that its effective diversification is less than 60 stocks. Morgan Stanley just announced that they expect the SP500, 100 returns to be flat for the next decade due to lofty valuations. Do you know that since 2000 gold has outperformed the s&p last year, gold shot up from about $2,000 peaked near $2,800 and then ended up about 30% for last year, the yield on the 10 year T note was up 63 basis points last year, basically rising from four up to 4.6% by year end. What that means is that that signals higher inflation expectations. Bitcoin up an astounding 111% to end last year around 95k and it topped out at an all time high of 108k oil up just 2% to 72 bucks and a wild card for you. Through October, Bible sales were up 22% compared to the same period versus the previous year. That is GRE 's asset class rundown. It was. This is get rich education. Let's drop back and do some learning before I update you on housing and the homelessness crisis. Now, a lot of Americans don't really know history that well, and not very many have a good financial education either. But you know, it is quite possible that even the next person you spot in a Trader Joe's aisle has heard of Adam Smith in his landmark 1776 book The Wealth of Nations. Did you know that Adam Smith is the one credited with actually inventing the very concept of supply and demand? Yeah, Adam Smith, a Scotsman is credited with that. He is known as the father of modern economics. You might have already known that. Well, of course, supply versus demand seems to be a more relevant concept than usual. Here with the housing shortage crisis, Adam Smith, he proposed the idea of what he called an invisible hand, that is the tendency of free markets to regulate themselves using competition, supply and demand and self interest, a Darwinian sort of struggle. Really, did you know that he also created the concept of gross domestic product? Yeah, prior to Adam Smith's work, most people considered a nation's wealth based on the amount of gold and silver reserves that they had stored. But Adam Smith said no, it's more about productivity quantified in this GDP in a lot of his work. It also discusses the evolution of human society from a hunter stage with no property rights and no fixed residences, to nomadic agriculture with shifting residences. And then the next stage after that is a feudal society, where laws and property rights are established to protect privileged classes. And finally, that modern society is characterized by laissez faire or free markets, so a good chunk of Adam Smith's work revolved around real estate. Now, the history of economics like that is a phrase that sounds boring. Maybe it is to some people, but as an investor, the least that you should know about Adam Smith's landmark book The Wealth of Nations from the year 1776 is that to review, he invented the supply demand concept. He created the GDP concept, and he championed free markets. That's something you're going to appreciate knowing in your investor life. And also supply demand, as I discussed that in the homelessness problem shortly. we are a real estate show, and, you know, I just don't hear other real estate shows talk about, well, the unfortunate, I guess, absence of real estate in an increasing number of people's lives now, even if you have a home, learn about how homelessness is gonna make your life worse, too. In fact, it already has. I'm not sure if you've noticed, I will get into that as well. First listen to these two spots, freedom, family investments for an eight to 10% return on your liquid capital and Ridge lending group, they specialize in income property loans. They can really help you, and I would know, because I use them both my self. I'm Keith Weinhold. This is get rich education. Here you go. Oh, geez, the national average bank account pays less than 1% on your savings, so your bank is getting rich off of you. You've got to earn way more, or else you're losing your hard earned cash to inflation. Let the liquidity fund help you put your money to work with minimum risk, your cash generates up to a 10% return and compounds year in and year out. Instead of earning less than 1% in your bank account, the minimum investment is just 25k you keep getting paid until you decide you want your money back. Their decade plus track record proves they've always paid their investors 100% in full and on time. And you know how I'd know, because I'm an investor in this myself earn 10% like me and GRE listeners are. Text family to66866, to learn about freedom. Family investments, liquidity fund on your journey to financial freedom through passive income. Text family to 66866 Hey, you can get your mortgage loans at the same place where I get mine, at Ridge lending group NMLS, 42056, they provided our listeners with more loans than any provider in the entire nation because they specialize in income properties. They help you build a long term plan for growing your real estate empire with leverage, you can start your pre qualification and chat with President Caeli Ridge personally. Start Now while it's on your mind at Ridge lendinggroup.com that's Ridge lendinggroup.com Ken McElroy 12:41 this is Rich Dad advisor, Ken McElroy. Listen to get rich education with Keith Weinhold, and don't quit your Daydream. Keith Weinhold 12:57 Welcome back. You're listening to get rich education Episode 536, I'm your host. Keith Weinhold, it is bad. America just hit a record high homelessness number, and it is up double digits, over 18% in just one year. It is even worse when we look at family homelessness and the rise in that and gosh, get this unaccompanied youth homeless, meaning like a 15 year old kid homeless and drifting by themselves. And this is all in the most powerful nation in the world. And even if you have a home. Homelessness is gonna make your life worse, too. We'll also look at how Trump wants to address this. It is major. And finally, are there any solutions to the homelessness crisis in America today? Well, there are now over 771,000 homeless in America, that's up from 653k just last year. And yes, the homeless can be hard to count, but as long as the methodology stays the same, I mean, there you go with the 18% increase. And here's the thing from all the years, from 2007 to 2023, all 16 of those years, we only saw a total increase of 19% during that entire span, and now 18% in just one year this latest year. I mean, talk about exponential and accelerating homelessness growth. And before I tell you about why this is happening, let's get a better idea of the gravity of this sad situation here, and this is all from HUD's newly released annual homelessness assessment report to Congress among subgroups families with children saw the biggest increase as. At 39% year over year. You think that's sad, but consider how sad this is. Unaccompanied homeless children, they're up 10% in just a year, and that was only up 3.4% all of the previous 16 years combined. Veterans are the only group to see a decrease, and the number of homeless people over 65 so we're talking seniors here that is expected to almost triple by 2030 that is just five years away, and it is just widespread too. I mean, nearly no US geography is immune from this spike in homelessness, from Florida to Maine to California to Alaska. Now, even if you have a home, the shoes of that are pretty good, if you're listening to me, you know, why does this even make your life worse? Well, of course, first of all, homelessness can make your city blighted. But beyond that, just think about how many ways it's just changing your week in and week out routine. I mean, have you noticed, like, just take, for example, when you or I walk into some grocery stores anymore. I mean, I notice how different things are than they were just say, five years ago. I mean, you've got to notice some of these things now, more often than there was just a few years ago, there's an armed guard when you walk into a store near the entrance. Well, someone is paying for that security, whether it's the store passing the price along to you, or whether it's a government or municipality paying that, well, that's where your tax money goes. And what about when you're shopping the aisles of a supermarket, or, say, CVS? Well, now even kind of moderately priced items like bottles of moisturizer, they are under lock and key behind a Plexiglas case. That's inconvenient while you're shopping if you need to use the bathroom, oh, now you need to go get a key or learn the door code to access the bathrooms. That's inconvenient when you're done and as you walk out of the store now, they are more likely to have an attendant that checks your receipts on the way out, and this is just one example at the supermarket. I mean, so many of your patterns are changing due to poor people getting poorer, and the homelessness crisis, if you're in a rural area, it probably affects you less. But just take a look around and notice the change. We're not talking about the change from your parents era, but just in your own life over the past, say, three to five years, homelessness is not good for an area's crime rate either. I mean, it is not good to have desperate people, hungry people, these people have nothing to lose if you're homeless and you commit a crime and go to jail. Hey, that might be an upgrade for some people now you've got a warm, clean place to stay in jail. So now that you and I understand more about why this even affects you and I let's talk about why is homelessness growing at this alarming rate, well, higher prices for real estate, which really accelerated in 2021 and they are not going to relent. As I've said elsewhere, home prices are not going to go down in a meaningful way anytime soon as just three weeks ago. Here on our forecast episode, I forecast another 5% of national home price appreciation this year. And it's not just higher prices, it's higher rents. Rents really started taking off in 2021 as well. Well. Higher rents, that means more evictions, and an eviction is the start of homelessness for a lot of people. And a third reason for this surge in homelessness is just that overall lack of housing. I have covered that extensively elsewhere. Yes, the housing supply crisis, and as I'm known for saying, the housing crash already occurred. Did you miss it? It was a supply crash that occurred about five years ago, and a lot of agencies think we're under supplied by 3.7 million housing units. Now, when you look at the new HUD supplied map of homelessness by state, you can very much see that it is about housing, because those regions with the highest home prices generally have the most homelessness. We're talking about the Northeast, the West Coast and Hawaii. And the fourth reason for the homelessness surge is that, of course, inflation started accelerating about four years ago, and people just cannot make ends meet anymore. CPI inflation peaked at 9.1% back. In June of 2022 and year over year, prices are still going up 3% today. Prices are not going down. They're just rising at a slower rate. And of course, inflation hurts the poor and actually helps the wealthy, exacerbating the inequality Canyon the wealthy have assets. Those assets float up in value with inflation and the prices at the grocery store are just a tiny part of a wealthy person spending. But the poor don't own assets that float up with the inflation and higher grocery prices and things like electric bills, well, they comprise a big part of a poor person's income. And fifthly, the massive arrival of immigrants pushed up homeless numbers these past, oh, three or so years. And it remains to be seen how many of those people really get deported. And you know, a sixth reason for homelessness. It's not something new, it's what I'll call all of these background reasons that have been there for decades and are not going away, like how a medical emergency can even drain a middle class person's savings and things like ongoing substance abuse. I mean, drug users often cannot stay employed. So there you have it. What was that? Six big reasons that I've identified for surging homelessness now let's see what Donald Trump has to say and understand that, due to last June Supreme Court decision, Trump now has got more power to clear out encampments and make life for the homeless more difficult, opening the door now to be criminally charged for trespassing and illegal camping. I mean, you really don't want to be homeless today as part of what Trump calls his agenda 47 his plan to tackle homelessness. Here is his preamble. Donald Trump 21:57 Our once great cities have become unlivable, unsanitary nightmares surrendered to the homeless, the drug addicted and the violent and dangerously deranged. We're making many suffer for the whims of a deeply unwell few, and they are unwell. Indeed, the homeless have no right to turn every park and sidewalk into a place for them to squat and do drugs. Americans should not have to step over piles of needles and waste as they walk down a street in a beautiful city, or at least once beautiful city, because they've changed so much over the last 10 years. Keith Weinhold 22:40 So that's the problem. Here's the solution. I'll boil down the meat of the Trump agenda, 47 homeless statement to just the most salient 40 seconds for you here. Just listen to this, and as you listen in closely, note that this is not a housing first plan for the homeless. Instead, it's treatment first. Donald Trump 23:03 Under my strategy, working with states, we will ban urban camping wherever possible. Violators of these bans will be arrested, but they will be given the option to accept treatment and services if they're willing to be rehabilitated. Many of them don't want that, but we'll give them the option. We will then open up large parcels of inexpensive land, bring in doctors, psychiatrists, social workers and drug rehab specialists, and create tent cities where the homeless can be relocated and their problems identified. But we'll open up our cities again, make them livable and make them beautiful. Keith Weinhold 23:43 Okay, it's not housing first, because, see, he wants to ban urban camping, something that parallels the Supreme Court decision. What this is not is that it is not giving the homeless hotels in the city, like some cities have recently done, converting their hotels into homeless shelters. Instead, this is designating large parcels of cheap land for tent cities, but outside the urban core, like in a big grassy lot, and then bringing in social workers and rehab specialists for them, and that way, his solution is that this city is free of homeless people, and really that is the crux of Trump's plan. But what are some other solutions here? And these are now my insights, not Trump's, that is, build more housing. That's really simple. I mean, this will naturally slow down, accelerating home prices and spiking rents, and we've got to relax regulation and zoning. We had a zoning expert, Nolan gray on the show here last year. Some scholars believe that we should just eliminate zoning in America completely. And one. One way to relax regulation is to Gosh, revisit some of these over the top safety concerns. I mean, look, it increases the cost of the most basic entry level housing when every home needs to have all these thick, fire rated doors and smoke detectors all over the place, and carbon monoxide detectors everywhere, and GFCI electrical outlets all over the place. I mean, hey, it sounds kind of funny to say out loud, but all this stuff contributes to making affordable housing impossible. And another solution is that you've got to kill nimbyism in a lot of cases, yes, that not in my backyard. Ism, you know, a person can act like they're all pro development, and like they're all free market, and they want to have their home built just how they want it, where they want it, but you know what, as soon as their home was built, they don't want others moving near them, yeah, somehow the free market's not so great anymore, okay? And they sure don't want apartment buildings nearby. Well, that is what we need, allowing taller structures to be built. That is called up zoning. It doesn't have to be a gigantic apartment building either. We need more, mmm, properties, multi families, missing middle. That means building more two, three and four unit structures in single family neighborhoods, duplexes, triplexes, fourplexes, because a lot of those can be built so that they look like single family homes. But yet it's something affordable and it helps with density. Another solution to deal with homelessness is to, of course, bring down inflation. The government needs to stop printing, say, $1 trillion to pay for a program, whether that's sending aid to foreign nations or whatever that program is. When more dollars are created like that, it debases the currency everyone else is holding on to, including your dollars, and it makes everyone from landlords to grocers have to raise their prices. And you know, here's the funny thing in the last election for president that we had last year, well, that administration got voted out of office, and many say that the number one reason was due to high inflation, but yet, look at what they voted for with the incoming administration. Everyone expects higher inflation. So there's a real paradox there. On our YouTube channel, you can watch videos of me going out outdoors and interviewing the homeless. In fact, I'm surprised at how many homeless let me into their tents, and they wanted to show me their makeshift shelters and tell me about their life. I mean, that's kind of the good news. They were open. They were friendly people. I think they really wanted that to get exposed, because they were hoping that people would see that to come do something for them. I think that's why they've been so open with me. So that was good on the flip side, oh gosh. One thing that they have in common is that they all seemingly want to blame somebody else for the condition that they're in other than themselves, like the government or including telling me that landlords are greedy. But it really is fascinating to see from our get rich education YouTube channel, which is different content from this show. Just search the word homeless there on the get rich education YouTube channel and you can see it. Hey, I want to ask you something. What is your on ramp to real estate investing? Like, how did you approach it? Or how did you get into it? I mean, mine was as a disgruntled employee. That's it. I didn't come from a complimentary professional place. I mean, that's how I became an investor, and there was nothing wrong with my job position. Specifically, I worked with good people and everything. In fact, I had an easy and safe job, and it paid a little bit well. But, you know, safe is not the place to be. Safety is the opposite of freedom. As an employee, you know, I could see that 401 K type plans. They were designed so that you don't get income from them until you're old. It's a salary reduction plan all those working years as well. Well, no wonder that your employer encourages participation in them. That way they're going to keep you working as an employee until retirement, because that's when they're designed to generate income. But see my point here, really is that I did not have a complimentary skill set to real estate investing, and if you do, it can be to your advantage. So you know what I mean. Let's take a couple of friends of. The show here, Robert Helms, host of the terrific real estate guys radio show. He came from a real estate agent family. His dad was an agent. Well, that can help you find deals. How about Ken McElroy, another frequent guest on the show here, very successful real estate investor. Well, he was a property manager before he became a real estate investor, totally complementary skill set. And by the way, two months ago in New Orleans, I was invited to participate in a collective inner circle mastermind group session that Robert and Ken help run. That was cool, but getting back to complementary skill sets, Michael Becker, a former guest here on the show, he was a lender, so he got to see the paperwork of all these successful investors. So he became one himself. I mean, as a lender, you keep seeing savvy investors leverage themselves with debt and then do cash out refinances, a tax free windfall event, all while they keep the asset too well. He wanted to get in on some of that. And I also know real estate investors that started out as handymen, okay, a hands on trade that can totally help when you're starting out as a real estate investor. So do you have a complimentary skill set that can help make you a successful real estate investor. If you don't, then don't despair, because you know what? I don't have one myself. I was just a former employee that wanted something else. I don't have a complimentary skill set to real estate investing. No transferable professional skill. Instead of that, I just became a reader, but not a massive reader. Of course, I was a learner before I was a teacher. I enjoyed learning this stuff, and I also got a good grasp on the numbers and how that works. But importantly, my advantage was I take action, I just keep adding property to my portfolio. You just got to keep doing that, regardless of what's happening in the larger economy or what prices are or what interest rates are. And as you know, last week, I discussed the advantages of owning and building with brand new build rental property today, and you know, new build and these build to rent properties, those are things that that really wasn't even available when I started out investing. Well, it wasn't. I mean, with new build, oh, your maintenance repair costs are going to be low. You tend to attract a high quality tenant that also tends to stay for a while. Insurance costs tend to be lower on new build. And there's a bigger advantage than all of that in the market cycle right now that I'll get into shortly. Well, historically, the long run average. Do you have any idea what proportion of homes for sale are new build homes? Any guess, like, what share of those homes are new? It's only about one in eight. Yeah, the Census Bureau and the NAR tell us that it's 13% historically. Okay, well, what do you think it is today? Well, today, that number is up. Existing homeowners, they're not selling those homes aren't getting on the market as often due to the lock in effect, and we have to add supply. So in order to do that, we are building more new there's just no other way to bring it to market. Well, today, the proportion of new build homes for sale among all homes for sale is fully double that, at 26% although we're still undersupplied of homes in the US by about 30% you know there are pockets where they've overbuilt with new builds, including in Florida and Texas. So the time could really be right to expand your income property portfolio in one of those places, because builders that we work with at GRE marketplace are really willing to give you a deal now you've got them right where you want them if you're looking for a deal. How does a four and three quarter percent interest rate sound? Yes. Rates on non owner occupied property are about eight right now. They're about seven on owner occupied property, but we've got builders willing to buy your rate down to 4.75% and they're also offering one year of free property management and three months of rent guarantee protection in case your property is not occupied right away. The first one is a brand new build duplex in Inverness, Florida, two beds, two baths, each side, price of 420k projected rent from both sides at $2,830 and the size is 2100 square feet. I mean the. That sounds like it could make your cash flow thin, until you consider that 4.75% fixed mortgage rate the property tax is about one and a half percent and insurance get this projected at just $1,155 a year for an entire new build duplex, and now you might ask, what could the rate of return be on this Florida duplex new build? Well, I projected 5% appreciation for this year. New builds tend to appreciate better than existing property, but let's just use 5% if you have a 25% down payment, that's four to one leverage. So you've got a 20% return on your money. And let's just keep it conservative. When we look at monthly cash flow, that results in a 5% cash on cash return. Add that to your 20% leverage appreciation, you're up to a 25% ROI already. Add in the fact that your tenant is paying down your principal for you by $405 every month. That's 4860 annually, divided by your 105k down payment. That means you've got another four and a half percent return here. Let's just call it four. You're up to a 29% total ROI we haven't even added in yet, your tax depreciation benefit, and now you're up to a return in the mid 30s. Finally, your inflation profiting benefit on your fixed amortizing debt, and you are well into the 40s for a percent return on an annual basis. And of course, most of these are only projections. It could disappoint you at 30 or less, still a nice return, or it could over perform at 50% or more. I mean, this right here is how wealth is built. I mean, this is how you do something that disrupts your entire family tree that was the new build duplex. Then I'll share one other one with you. Here from GRE marketplace. Is a single family rental. This one is in Locust Grove, Georgia. Gosh, it looks really good in the photo here with a two car garage and some brick facing, its price is 339k rent is 2350 The size is 2164 square feet, so only a little bigger than the duplex here in this new build, Georgia, single family rental, four beds, two baths, beautiful looking new construction on the inside, open floor plan, stainless steel appliances, I can't tell whether the floor is LVP or wood laminate, but it's got a flooring type that's resilient, that tenants like, and your rate of return is going to be similar to the duplex ROI that I laid out, though probably not quite as high as the duplex. I mean, with these interest rate buy downs, these could very well be the property types where, in just five years time, maybe even as little as two or three years time after owning them, you look back and you consider how opportunistic you work in this part of the market cycle where there are now more new builds that you can choose from, and a builder was willing To make you a deal to keep their product moving, because they build a little too much in some pockets of Florida, for example. So yes, these and more like them are available, and there are more in Florida, Georgia, Alabama and a number of other states. And you know, something I don't think I shared with you earlier, it's convenient. You can get a spot with one of our GRE investment coaches right on their calendars, you can look at their calendar and pick a date and time that's convenient for you. For a free coaching session, they will learn about you. They'll let you know where the real deals are, if they're right for you at all, all you've got to do is visit GRE marketplace.com, and click on the free investment coaching area. There you are with some real opportunities and an actionable resource. Until next week, I'm your host. Keith Weinhold, don't quit your Daydream. Speaker 2 39:17 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 you Keith Weinhold 39:45 The preceding program was brought to you by your home for wealth, building, get rich, education.com

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Essential Tools Part 2 | Hour 2

Home with Dean Sharp

Play Episode Listen Later Jan 5, 2025 38:45 Transcription Available

Dean advices a caller about installing a GFCI outlet around their home. Dean provides a list of tool brands that are made in the U.S. and what could cause the pressure to weaken out of a faucet. Dean says to get a tape measure that will last you by getting a 25-footer. Dean loves a handy laser level and when to use it. He also, dives about the different tapes: electrical, 3M scotch, and more!

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HPR4282: Backup Power for my Gas Furnace

Hacker Public Radio

Play Episode Listen Later Dec 31, 2024

This show has been flagged as Clean by the host. Hello, again. This is Trey. Before I begin, please note: In the show notes, I include links to several informative videos, and to specific products which might be used for a project like this. I do not endorse, nor support any of the products or influencers linked. I do not profit from anything on or associated with any of the links. They are provided merely for additional information or for reference. I live in the eastern part of the state of Tennessee in the southeast United States. Our summers are fairly hot and humid, but our winters are generally mild. Last winter, we experienced an ice storm, with temperatures dropping into the single digits (Fahrenheit) or below -12 degrees Celsius. This was not a problem until tree limbs heavy with ice began to break off and fall, on occasion taking power lines with them. As a direct result, we lost power at my home. The icy road conditions made it difficult for service vehicles to reach impacted areas, and also made it impossible for us to leave our home. My house is heated by a natural gas forced air furnace. However, the fan which blows hot air throughout the house, and the electronics which control everything from telling the furnace to turn on to igniting the gas, all require electricity. For anyone unfamiliar with how a forced air furnace works, I am including a link to a helpful YouTube video by The DIY HVAC Guy Link So, with the loss of electrical power, came a loss of heat. We experienced a full day of being huddled under blankets and drinking warm beverages. These I could heat up on my gas stove, when I used a match or lighter to ignite the burner. Thankfully, the next day our power was restored, and our home warmed up again. But that got me thinking, and searching for solutions. I needed to provide an alternative electrical power option for my gas furnace so that it would continue to work when the electricity was interrupted. I found a really interesting video, also by The DIY HVAC Guy ( Link ), explaining an option for retrofitting the electrical connections to the furnace, but I never got around to doing it. That changed, a couple months ago, when I found a real deal on a brand new portable solar generator. It is effectively a large lithium iron phosphate (LiFePO4) battery, an inverter, and a charging system, all bundled together in an easy to carry case. It provides over 1,000 watt hours of power. It can be charged using portable solar panels (which I purchased at the same time), or supported using external power sources from 12v to 48v DC. The retrofit of the of the electrical feed line into my furnace was easily accomplished by doing something very similar to what was done in the video linked above. I turned off the circuit breaker for the furnace in the house's main electrical panel, and then located the switch box mounted on the side of my furnace. I removed the switch plate cover and tested the wires inside using a non-contact voltage tester, which would light up and scream at me if there was still any power to any of the wires. No screaming. No power. Good. Next, I removed the switch from the box, disconnected the black power source "hot" wire from the switch. This would carry 120v AC directly to the switch and allow a user to turn the furnace on and off. The wires going into the furnace included a black "hot" wire, connected to the other side of the switch, and a white "neutral" wire which was connected using a wire nut to the white "Neutral" wire from the house wiring. I disconnected all of these wires, and also the ground wire from the house wiring. I removed the front service panel from the furnace so that I could perform the next steps safely. I removed the "single gang" electrical box (which had housed the on/off switch) from the side of the furnace, where it had been attached using a single sheet metal screw. The term "single gang" describes a box which is only wide enough to accommodate a single standard sized switch or a single duplex outlet. A "double gang" box is wide enough for two such devices, and a "triple gang" is wide enough for three. Use the provided link for a more complete description of this naming. I chose to replace the single gang box, which only held a switch, with a double gang box to accommodate both a switch and a duplex outlet. I could have used the existing box and used a single gang outlet/switch combination (Like the one at the provided link ), but I wanted to use a heavier duty switch and outlet. I mounted a new double gang box to the side of the furnace using multiple sheet metal screws. Then I passed the Romex house wiring through a knockout hole in the side of the box and a protective wire clamp. I wired the black "Hot" wire from the house to the brass colored screw on a commercial grade 120v 15A duplex outlet. The neutral wire from the house went to the silver colored screw on the outlet, and the bare ground wire from the house connected to the green ground screw on the outlet. This was now connected just like any other outlet in the house, and controlled by the breaker in the house's main panel. I wrapped this duplex outlet with electrical tape, as I like to do any time I am working in a metal box or a box containing more than one device. Then I secured the duplex outlet to the box with included screws. I knocked out another one of the side holes in the box, and installed another wire clamp, through which I passed some heavy duty 12ga (About 2mm conductor diameter) 3 conductor flexible cable. The black wire from this went to one screw connector on the switch, and the black wire from the furnace connected to the other screw connector on the switch. I connected the white wires (from the flexible cable and from the furnace) together using a wire nut, and connected the ground wire from the flexible cable to the green screw on the box. The final installation steps were to connect a quality, 120v 15A plug to the other end of the flexible cable. Now for the first test. I turned the breaker back on, and used an outlet tester to verify the newly installed outlet on the side of the furnace was working and wired correctly. I use one which displays voltage along with any wiring faults, and which also has a button which can be used to test ground fault circuit interrupts (GFCI) like the one found at the provided link . Everything checked out properly, so I plugged the furnace into the outlet, using the flexible cord. Nothing happened, so I flipped the switch to the "On Position". I immediately saw blinking lights on the furnace controller board. Next, I adjusted the thermostat for heat, and within a minute, the furnace had ignited the burners and was blowing hot air. Good. All my connections were verified, so I turned off the furnace, unplugged it, and installed the faceplate on the box. Yes, I know I could have done this before I plugged in the furnace. However, with over 40 years of experience building, repairing, and modifying electrical and electronic devices. I have learned to never put back together more than you must for a specific test. Otherwise, you will just need to go back and take it apart again when your test fails. What was next? More testing, of course. I needed to figure out how much power the furnace used when generating heat. Because of the way the furnace was now wired, it was simple to connect an inline power meter between the outlet and the furnace plug. I plugged one in and turned everything back on again. The measured peak power use was 375 watts. The solar generator can easily handle this for a couple hours and I can charge it from various sources during gaps in operation. So, I connected the solar generator and... Nothing. The furnace would not even complete its self-test sequence. Great... Did I break something? I plugged the furnace back in directly to the power outlet, and everything worked properly. Well, that's a plus, at least. So, I spent the next several hours troubleshooting two different blinking light error codes on the furnace controller board. One referenced "Hot & Neutral Reversed" while the other referenced "Open Ground". That was odd. Well, I had never actually tested the output of this brand new solar generator, so I plugged my outlet tester into the solar generator, and it verified "Open Ground". Time for a technical support call. THIS is when I learned something important. Apparently, this is a common issue with solar generators, and is part of their design. To resolve the issue, I need to simply connect a bonding plug into any 120v outlet on the generator. You can purchase a Generator Bonding Plug, also called a Ground-Neutral Shunt, and I have included several links as reference. ( Bonding Plug or Ground Neutral Shunt ). I found them selling for anywhere between $10 - $35 USD. But all they are is a $1 - $2 USD plug with a wire connecting the ground terminal to the neutral terminal. So, naturally, I built one using a spare plug I had. I connected it to the solar generator, and the outlet tester was very happy. With fingers crossed I connected the furnace back to the solar generator, with the shunt installed. This is very difficult to do, by the way, when your fingers are crossed. Everything started up properly, and I ran the furnace for 2 hours using just the generator. Hopefully, I will not need it, but If I do, I have options. I would love to hear your episode about what you do to prepare for situations like this. Provide feedback on this episode.

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Mineral Springs Crossing & Understanding HELOCs, Home Equity Loans, and GFCIs

Cleve Gaddis Real Estate Radio Show

Play Episode Listen Later Nov 11, 2024 12:00

In this episode of Go Gaddis Real Estate Radio, brought to you by Modern Traditions Realty Group, we highlight the Mineral Springs Crossing neighborhood in Auburn and dive into key real estate terms, including the differences between a HELOC and a Home Equity Loan. We also break down what GFCI is, why it's important, and what a missing ground fault could mean for home safety. Segment Teaser: Discover Mineral Springs Crossing in Auburn, understand the difference between a HELOC and a Home Equity Loan, and learn about the importance of GFCI and ground faults in home safety. Cleve Gaddis: Helping listeners go from real estate novice to expert, ensuring that home buying and selling can be done with total confidence and without the usual worries of life's biggest investments. Let's Talk: Visit GoGaddisRadio.com to ask questions, leave comments, push back, share your ideas, and explore our Neighborhood Spotlight. Don't forget to subscribe to our podcast! Neighborhood Spotlight: Explore Mineral Springs Crossing in Auburn, a great community with homes available on SureMLS.com. HELOC vs. Home Equity Loan: Veronica from Duluth asks if HELOCs and Home Equity Loans are the same. Cleve explains the differences, covering how each option works and when they might be most beneficial. Understanding GFCI and Ground Faults: Benjamin from Winder asks about a missing ground fault in his inspection report. Cleve explains GFCI, why ground faults matter, and how these elements contribute to home electrical safety. Seller Confidence Plan: Know your options and feel confident before listing your home. Call us before listing with anyone else to learn more about our Seller Confidence Plan. Join us for an informative episode that covers local real estate, essential home finance options, and tips for keeping your home safe and up to code. If you have a question for Cleve, click here : https://gogaddisradio.com/ask-a-question If you are looking to buy or sell your home with Cleve, click here : https://moderntraditionsrealty.net/contact If you are looking to join a real estate team, click here : https://moderntraditionsrealty.net/careers

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Ask Paul | Why are their 30A and 15/20A Receptacles at Marinas

Play Episode Listen Later Oct 11, 2024 15:59

Here is todays Let's Ask Paul Question: Here is my question: I live in a coastal area and have constant contact with customers that have a private dock with boat lifts. Typically, I see a 20- or 30-amp 250 volt rated GFCI protected circuit for the boat lift. Many times, I see a 120-volt as well, 15/20-amp GFCI protected receptacle at the dock. They label this outlets convenience outlets. Since article 555.33(A)(4). Required shore power to be rated not less than 30-amps how should I address this issue. Countless times I go to these boat lifts and see the convenience outlet being used as shore power. I know what the code reads but is there some reason that shore power is rated a minimum of 30-amps. Thank you for taking my question.Become a supporter of this podcast: https://www.spreaker.com/podcast/master-the-nec-podcast--1083733/support.

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Ask Paul | Misunderstood GFCI

misunderstood generators gfci

Play Episode Listen Later Oct 3, 2024 20:56

When you are forced to block folks who spread misinformation on YouTube responses. They fail to understand how GFCI's work and why Generators must be unbounded when connected to a dwelling with no switched neutral.Become a supporter of this podcast: https://www.spreaker.com/podcast/master-the-nec-podcast--1083733/support.

Beware of hair dryer murders and check your GFCI outlets in Today's real estate update

California real estate radio

Play Episode Listen Later Sep 26, 2024 13:08 Transcription Available

In today's real estate market update, we dive into the often-overlooked hazards lurking in your home—specifically, the life-saving role of GFCI outlets. GFCI (Ground Fault Circuit Interrupter) outlets are designed to prevent deadly electric shocks, especially in areas like bathrooms and kitchens, where water exposure is common. But did you know a malfunctioning GFCI could lead to tragic accidents, including the so-called hair dryer murders? In this episode, we'll cover:What are GFCI Outlets? Why it's critical to have them in specific areas of your home.Testing Your GFCI: Step-by-step instructions to ensure your outlets are functioning and prevent potential electrical disasters.Hair Dryer Danger Zones: How bathrooms with faulty outlets become high-risk areas.Importance for Buyers and Sellers: Why ensuring GFCI outlets work properly could make or break your next home inspection.Plus, we'll be updating you on real estate trends in the Santa Clarita Valley and surrounding areas, focusing on the key market indicators:Price movements, new listings, and market fluctuationsBest practices for home inspections during purchase or saleHow staying on top of maintenance can boost home valueIf you're a homeowner, real estate agent, or someone in the market to buy or sell, this episode is packed with must-know tips for keeping your home safe and maintaining property value.GFCI outlet safety tipsHair dryer electrical dangersHome electrical safetySanta Clarita real estate updateReal estate market trends 2020Home inspections for buyers and sellersYoutube Channels:Conner with Honor - real estateHome Muscle - fat torchingFrom first responder to real estate expert, Connor with Honor brings honesty and integrity to your Santa Clarita home buying or selling journey. Subscribe to my YouTube channel for valuable tips, local market trends, and a glimpse into the Santa Clarita lifestyle.Dive into Real Estate with Connor with Honor:Santa Clarita's Trusted Realtor & Fitness EnthusiastReal Estate:Buying or selling in Santa Clarita? Connor with Honor, your local expert with over 2 decades of experience, guides you seamlessly through the process. Subscribe to his YouTube channel for insider market updates, expert advice, and a peek into the vibrant Santa Clarita lifestyle.Fitness:Ready to unlock your fitness potential? Join Connor's YouTube journey for inspiring workouts, healthy recipes, and motivational tips. Remember, a strong body fuels a strong mind and a successful life!Podcast:Dig deeper with Connor's podcast! Hear insightful interviews with industry experts, inspiring success stories, and targeted real estate advice specific to Santa Clarita.

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Replay - Electrician Getting Beat Down on the Bottom Price

Electricpreneur Secrets - The Electrician Podcast

Play Episode Listen Later Jul 26, 2024 20:51 Transcription Available

Is your electrical service business struggling to justify higher rates to skeptical clients? Listen up! This episode of Electricpreneur Secrets promises to arm you with powerful strategies to overcome pricing objections and confidently set your service rates well above $100 an hour. Joe and I dive into the critical need for differentiation in a competitive market, offering insights into creating a solid offer that stands firm against low-ball pricing tactics. We also uncover how delivering premium service and unique solutions can help you effectively communicate the added value of professional installation, helping clients understand why your service is worth every penny, especially when it comes to parts like GFCI outlets.But that's not all. We also discuss the importance of developing a strong foundational mindset to handle repeated objections without succumbing to self-doubt or negative beliefs about your value. Learn how to foster a culture of consistent, high-quality customer interactions that create a perception of premium value and preempt client objections. We'll provide actionable strategies for overcoming sales objections and maintaining confidence in your offerings, ensuring that both you and your team believe in the value you provide. Don't miss this episode, and be sure to catch our upcoming Tuesday session, where we'll further explore problem-solving strategies to benefit your business.—---------------Join our community and get access to strategies that'll help bring your electrical business to the top

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Ungrounded Three-Prong Outlets

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Play Episode Listen Later Jul 22, 2024 42:00 Transcription Available

Attention Home Inspectors: The IEB Summer Mastermind is coming up on August 2nd. Details here: https://events.iebcoaching.com/IEBSummerMastermind2024#/ In this episode, Reuben and Tessa discuss repairing ungrounded three-prong outlets. They explain the importance of testing three-prong outlets and the dangers of ungrounded outlets. They discuss the different options for updating two-prong outlets and ungrounded three-prong outlets in older homes. They cover the importance of grounding, the use of metal conduits, and the limitations of using two-prong outlets or adapters. Overall, they provide valuable insights for home inspectors and homeowners dealing with outdated electrical systems.Check out this link for the blog post related to three-prong outlets: https://structuretech.com/options-for-repairing-ungrounded-three-prong-outlets/TakeawaysTesting three-prong outlets is important to ensure they are properly grounded.Ungrounded three-prong outlets can be dangerous and should be repaired.There are different ways to fix ungrounded outlets, such as grounding the receptacle to a metal box or using GFCI protection.Home inspectors should check a representative number of outlets to identify ungrounded outlets.It is important to understand the basics of electrical grounding and the purpose of the third prong on a plug. Updating two-prong outlets or ungrounded three-prong outlets in older homes can be challenging.Metal conduit provides a continuous path for grounding and is an ideal solution.GFCI protection is an alternative option that does not require grounding.AFCI protection is required for certain areas and should be considered when doing electrical work.Bootleg grounds, where the neutral and ground are connected, can fool basic testers.Specialized testers can detect bootleg grounds and provide more accurate results.Chapters00:00 Introduction and Holiday Recap03:09 Partnership with IEB08:12 The Importance of Testing Three-Prong Outlets21:11 Common Questions and Misconceptions About Grounding Outlets

Ask Paul | Unbonded Generator

Conservative Mouthpiece Radio - Join The "Patriot Party" and have a VOICE

Play Episode Listen Later May 24, 2024 15:32

Will the GFCI or OCPD to the GFCI Function on a Ground Fault?Become a supporter of this podcast: https://www.spreaker.com/podcast/ask-paul-national-electrical-code--4971115/support.

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Ask Paul | Unbonded Generator

Play Episode Listen Later May 24, 2024 15:32

Will the GFCI or OCPD to the GFCI Function on a Ground Fault?Become a supporter of this podcast: https://www.spreaker.com/podcast/ask-paul-national-electrical-code--4971115/support.

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#2415 – Dirty Secrets: Hidden Germs in Your Home | Finding Homes for Foster Kids | Easy-Care Shrubs

Get Paid For Your Pad | Airbnb Hosting | Vacation Rentals | Apartment Sharing

Play Episode Listen Later May 20, 2024 38:55

SHOW NOTES: In today's show, we'll uncover how to find and eliminate hidden germs in your home. Then, learn about a home improvement company dedicated to finding permanent homes for children in foster care. And if your landscaping is giving you a headache, we've got tips on choosing hassle-free shrubs. We're here to help with all your DIY projects, so listen in for more answers to your home improvement questions! - House Cleaning: Keep your home healthy and clean by finding germs that are hiding in plain sight. - Safe Homes: This home improvement company is dedicated to finding safe, forever homes for foster kids. - Easy-Care Shrubs: Sprucing up your outdoor space is easy with low-maintenance shrubs. Q & A: - Garage Construction: Sandy needs suggestions for building a new garage. An architect could design ideas that fit her home and the surrounding neighborhood. - Electrical Wiring: Gary wants to change one existing light to two fixtures on either side of the bathroom mirror. It's an easy project for an electrician to split the wiring. - Floor Stains: There are pet stains and odors in Merilyn's wood floors. She gets tips on how to sand, vacuum, stain, and finish the floors to hide the stains and seal the odors. - Insulation: White moldy areas are appearing on the radiant barrier insulation in Ed's attic. We explain to Ed why it's not very effective and could be trapping moisture. - Tile Floor: Is there a way to fill cracks and chips in a tile floor and refinish the surface? It may not be worth the time and effort, so Margaret should consider replacing the tile or installing a laminate floor over it. - Cracked Bathtub: Tim's new bathtub already has two cracks. It's a big job to remove it, but using a fiberglass repair product from an auto shop could buy him some time. - Home Addition: Joan wants to add an enclosed space over the patio for her cats. It's a large project and she should consult a professional to design the proper specifications to build an addition. - GFCI Outlets: John wants to install GFCI bathroom outlets. Rather than remove the existing outlets that are tiled in place, he can make the entire circuit in the electrical panel ground fault-protected. ASK A QUESTION: Need help with your own home improvement or décor question? We'd love to help! Call the show 24/7 at 888-MONEY-PIT (888-666-3974) or post your question here: https://www.moneypit.com/ask. Learn more about your ad choices. Visit podcastchoices.com/adchoices

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Mitigate Risk and Keep Your STR Properties Safe

Play Episode Listen Later May 10, 2024 40:55

>>> Watch our free Revenue Management training at https://www.getpaidforyourpad.com/cfm-replay>>> FREE E-Book: 5 Most Common Airbnb Revenue Management Mistakes>>> Click here to download Vincent Niemeth, a safety expert in the short-term rental field, shares his insights on safety and liability in the industry. He emphasizes the importance of guest screening and provides tips on how to identify potentially risky guests. Vincent also discusses the need for proper maintenance and safety measures for amenities like pools and hot tubs. He highlights the significance of fire safety, including the use of smoke alarms and fire extinguishers. Vincent advises property owners to think proactively and consider potential hazards to ensure the safety of their guests.TakeawaysGuest screening is crucial for ensuring the safety of your property. Conduct thorough background checks and review social media profiles to identify potential risks.Maintaining amenities like pools and hot tubs is essential. Regular cleaning and water changes are necessary to prevent health hazards.Invest in safety measures like GFCI outlets, smoke alarms, and fire extinguishers to mitigate risks and ensure the safety of your guests.Consider potential hazards and take proactive steps to prevent accidents. This includes securing furniture, using non-slip materials, and installing safety devices.Always prioritize the safety of children and be aware of the risks associated with drugs and alcohol in your property.Before we wrap up today's episode, remember to connect with us on Instagram @getpaidforyourpad for exclusive content and behind-the-scenes moments, and don't forget to hit that 'Subscribe' button on our YouTube channel. We appreciate your support.. Stay tuned, and keep being awesome! Hosted on Acast. See acast.com/privacy for more information.

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#2406 – Brush Up on Tips to Paint Like a Pro | Is Your Home Too Airtight? | Front Doors Add Value

Play Episode Listen Later Apr 18, 2024 38:47

SHOW NOTES: In this episode, we cover a trio of crucial home improvement topics. First, we share top painting tips to achieve a flawless finish. Next, we discuss maintaining healthy indoor air quality without sacrificing energy efficiency. Finally, learn about installing a front door that looks great and increases your home's value and security. Tune in for these and other answers to questions from homeowners like you! - Painting Tips: Avoid painting predicaments by brushing up on these tips to paint like a pro. - Ventilation: Energy efficiency is great, but can your home be too airtight for healthy living? - Front Doors: Learn how to install a welcoming front door that provides curb appeal, value, and security to your home. Q & A: - Garage Trim: Mice and water are coming in through gaps in the corners of Dawn's garage doors. We recommend replacing the vertical pieces of weatherstripping to seal the spaces. - Bathroom Renovation: Is it a good idea to flip the toilet and the shower on a cement slab? Scott learns it's a massive renovation job that's not worth the expense and effort. - Water Quality: The cold water from only one faucet has a sickening taste. Nancy should report it to the water company and have the water tested. - Ceiling Drywall: Kenny can see the outline of the studs behind his ceiling. It's called ghosting and he gets tips on what causes it and how to hide it. - Wood Flooring: George gets advice on installing hardwood flooring in his family room, including how to prep the subfloor and paying attention to the pattern of the boards. - Electrical Outlets: When Belinda installs new GFCI outlets, do they need their own circuit breakers? We explain why it's not necessary and how to use an outlet tester. - HVAC: It would be a shame for Steve to remove his efficient and comfortable steam heat radiators, but he can still add a ducted air conditioning system. - Granite Countertops: How often should granite countertops be sealed? Every two or three years is recommended, but Dave can use some recommended DIY products. ASK A QUESTION: Need help with your own home improvement or décor question? We'd love to help! Call the show 24/7 at 888-MONEY-PIT (888-666-3974) or post your question here: https://www.moneypit.com/ask. Learn more about your ad choices. Visit podcastchoices.com/adchoices

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Spring Maintenance for Minnesota Homeowners

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Play Episode Listen Later Apr 15, 2024 39:05 Transcription Available

In this episode, Reuben and Tessa discuss spring maintenance for homeowners. They cover topics such as gutter maintenance, gutter guards, downspout extensions, and sump pump discharge. They emphasize the importance of keeping gutters clean and ensuring that water is directed away from the house to prevent water damage and basement flooding. They also provide tips for installing underground tubing for sump pump discharge. In this conversation, Reuben and Tessa discuss various spring maintenance tasks for homeowners. They cover topics such as testing sump pumps, challenges with sump pump discharge, air sealing sump pump baskets, plugging sump pumps into GFCI outlets, replacing sump pumps, cleaning dryer ducts, removing screens on dryer duct terminals, taking off air conditioner covers, checking and changing furnace filters, and turning off pilot lights on gas fireplaces. They also include additional listener suggestions for spring maintenance.Here is the link to check Tessa's website: https://www.yourhousecoach.com/TakeawaysRegular gutter maintenance is essential to prevent water damage and ice dams.Gutter guards may not be completely maintenance-free and should be checked regularly.Downspout extensions should be installed to direct water away from the house.Consider installing underground tubing for sump pump discharge to avoid the hassle of attaching and reattaching extensions. Test your sump pump regularly to ensure it is functioning properly.Consider air sealing your sump pump basket to prevent radon and moisture from entering your home.Be cautious when testing sump pumps and avoid sticking your hand in the sump basket.Check and change your furnace filter year-round to maintain good air quality in your home.Remove screens on dryer duct terminals to prevent lint buildup and potential safety hazards.Chapters00:00 Introduction and Spring Maintenance02:02 Tessa's Consulting Work03:43 Types of Homeowner Issues06:04 Gutter Maintenance08:12 Gutter Guards13:27 Downspout Extensions14:43 Sump Pump Discharge16:23 Alternative Sump Pump Discharge22:05 Challenges of Sump Pump Discharge23:16 Testing Your Sump Pump23:55 Air Sealing Sump Pump Baskets25:08 Alternative Ways to Test Sump Pumps26:13 Safety Concerns with Sump Pumps27:24 Plugging Sump Pumps into GFCI Outlets29:00 Replacing a Sump Pump29:35 Other Spring Maintenance Tasks30:06 Cleaning Dryer Ducts31:17 Removing Screens on Dryer Duct Terminals32:08 Taking Off Air Conditioner Covers33:01 Checking and Changing Furnace Filters35:49 Additional Listener Suggestions37:31 Turning Off Pilot Lights on Gas Fireplaces37:57 Preparing to Run Dehumidifiers

#2404 – Flush Out Bathroom Germs | Patio Paver Perfection That Lasts | How to Restore Rotted Wood

Electricpreneur Secrets - The Electrician Podcast

Play Episode Listen Later Apr 11, 2024 38:24

SHOW NOTES: In this one-stop shop for all things home improvement, we'll tackle the war against bathroom germs, explore the art of building a paver patio that lasts, reveal expert tips for restoring rotted wood, and answer more questions from callers. Whether you're a seasoned DIY enthusiast or a novice homeowner, this episode has something for everyone! - Bathroom Germs: Experts are flush with ideas on the best way to stop the spread of bathroom germs. - Paver Patio: Get some tricks of the trade on building a paver patio that will last for years to come. - Rotted Wood: When wet weather leads to rotted wood, learn how to restore and rebuild the damaged areas. Q & A: - Windows: Amy thinks her windows are discolored from water damage, but it's probably normal fading from sun and rain. Sanding and exterior polyurethane can restore the finish. - Shower Plumbing: The shower temperature changes whenever the toilet flushes. Brad needs to install a pressure balance valve to regulate the mix of hot and cold water. - Pest Control: Ick! Kelly wants to get rid of bugs, slugs, and rodents. She must seal any gaps, remove any food that may attract rodents, and hire a professional for general pesticide treatment. - Mortar Repair: The mortar is breaking apart between the doorframes and limestone of Steve's home. He gets tips on removing the loose mortar and how to repoint those areas. - Tree Roots: Large tree roots in Kevin's yard are a problem. We suggest covering them with natural landscaping solutions like mulch, soil, or groundcover plants. - Electrical Outlets: Pat has questions about installing GFCI outlets in his kitchen. They're good to have and we explain how they work and how he can do it. - Sealing Concrete: Past flooding left cracks in Bonnie's basement floor. She can use silicone caulk to seal them and add a two-part epoxy product over the surface. - Plumbing Noise: Robert's new faucet is making a trumpet sound! He get tips on checking the washer and aerator for obstructions before having to replace the faucet. - Ventilation: After reshingling his roof, Ken gets advice about removing the power vent, adding ridge vents, and completely opening the soffits to improve ventilation. ASK A QUESTION: Need help with your own home improvement or décor question? We'd love to help! Call the show 24/7 at 888-MONEY-PIT (888-666-3974) or post your question here: https://www.moneypit.com/ask. Learn more about your ad choices. Visit podcastchoices.com/adchoices

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Ep 291 - Replay - The Secret to All Star Electrician Diagnostic Calls

Play Episode Listen Later Mar 26, 2024 23:30 Transcription Available

Have you ever wrestled with the enigma of a tripped breaker or GFCI, only to discover a deeper electrical issue lurking in the shadows? Join Joseph and yours truly, Clay, as we unravel the intricacies of electrician diagnostics with stories from the field that illuminate the critical need for a meticulous approach. We don't just fix problems; we become sleuths in your homes, ensuring every flicker and spark is accounted for. One such tale from Greenwood Lake reveals how a minor flickering light unraveled into a saga involving a corrosion-ridden breaker panel, a testament to our commitment to leaving no wire unexamined.Our episode not only dissects these technical mysteries but also stresses the apex diagnostic method, a cornerstone of our craft that champions an open mind and an exhaustive home inspection. We delve into our professional pledge to conduct a 10-point safety inspection that aligns our technical prowess with the emotional assurance you seek from a service you can trust. Joseph and I also extend an invite to our private Facebook group and podcast, where the conversation continues with real-world advice on generator knowledge, sales expertise, and more. Tune in and amplify your understanding of electrical services, ensuring safety and satisfaction light up in every corner of your home.Join us LIVE 5 days a week on the Facebook Community page:https://www.facebook.com/groups/electricpreneursecretsAnd see us and our stories and wins at:https://www.servicebyelectricians.com

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Ask Paul | GFCI's and Tankless Water Heaters

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Play Episode Listen Later Mar 6, 2024 16:18

Listen as Paul gives an update on the Fast Trax Basic and Enhanced Program and answers a question about GFCI Protection.

Ask Paul | GFCI's and Tankless Water Heaters

Conservative Mouthpiece Radio - Join The "Patriot Party" and have a VOICE

Play Episode Listen Later Mar 6, 2024 16:18

Listen as Paul gives an update on the Fast Trax Basic and Enhanced Program and answers a question about GFCI Protection.

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Let's Ask Paul | Episode 164 | Basement GFCI's, Adjustments and Corrections, and More

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Play Episode Listen Later Feb 19, 2024 30:38

Listen as Paul Abernathy, CEO, and Founder of Electrical Code Academy, Inc., the leading electrical educator in the country, as he answers more questions from the Let's Ask Paul Portal over at www.PaulAbernathy.com.In this episode, Paul will tackle the questions submitted by a listener. The topics covered in this episode is adjustments and corrections on parallel applications, GFCI requirements in the basements, and more from submissions via PaulAbernathy.com. If you are looking to learn more about the National Electrical Code, for electrical exam preparation, or to better your knowledge of the NEC then visit https://fasttraxsystem.com for all the electrical code training you will ever need by the leading electrical educator in the country with the best NEC learning program on the planet.Become a supporter of this podcast: https://www.spreaker.com/podcast/master-the-nec-podcast--1083733/support.

Let's Ask Paul | Episode 164 | Basement GFCI's, Adjustments and Corrections, and More

ELECTRICIAN LIVE- PODCAST

Play Episode Listen Later Feb 19, 2024 30:38

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Let's Ask Paul | Episode 164 | Basement GFCI's, Adjustments and Corrections, and More

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Play Episode Listen Later Feb 19, 2024 30:38

Let's Ask Paul | Episode 164 | Basement GFCI's, Adjustments and Corrections, and More

Conservative Mouthpiece Radio - Join The "Patriot Party" and have a VOICE

Play Episode Listen Later Feb 19, 2024 30:38

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Episode 279 - I want to win

Sad Dads Club Podcast

Play Episode Listen Later Feb 8, 2024 60:45

Crab feeds and making things for charitable fund raising. The guys haven't won the lottery and wonder how much money makes it to the schools. The Sad Dads make a visit with Dave and Nat Sampson and it's a good time as usual. Can you trade a partial dollar for an actual dollar at the bank? Does anyone use cash anymore? Gym has declined payments with his Apple Watch and has figured out why. Gym had a stigma with the term "that sucks" when he was a kid in the 80's. Parking by braille. There's a buzzer that sounds when we lose power on our recording stack mid show, we appologize for the untimely death of the Belkin Power Strip. Plus more!

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#2382 – Paws-itively Perfect Pet-Friendly Floors | Window Trend Adds Light | Stinky Sink Odors

Tabernacle of Praise SDA Church Podcast

Play Episode Listen Later Jan 25, 2024 38:04

SHOW NOTES: Learn the secrets to a fresh and inviting home in this episode, as we address the challenge of sink odors, discuss windows to brighten your rooms, and suggest pet-friendly floors that look great. Tune in for these and lots more home improvement inspirations! - Pet-Friendly Floors: Make furry friends feel at home with paws-itively perfect pet-friendly floors. - Transom Windows: These trending transom windows add light where you need it. - Sink Odors: Try these simple solutions for stinky sinks. Q & A: - Chimney Removal: Steve's considering removing his brick chimney. It's a big job, but he gets advice on the steps involved. - Ceiling Repair: Rock lath is discovered under a damaged ceiling. We give Maria tips on how to plaster over it before priming and painting the entire ceiling. - Garage Insulation: Mike wants to warm up his cold garage, but there may not be enough room to add insulation above the ceiling. - Dry Rot: Joan finds what she thinks is dry rot when she pulls up a rug. We explain it may be wet rot that has dried out and decayed, or possibly carpenter ants. - Hard Water: How should hard well water be treated? Greg should first have the water tested for contaminants and then try adding a recommended system to treat hard water. - Countertop Noise: Sudden loud noises from the countertop are making Nadine jump! They may be caused by the expansion and contraction of walls or plumbing. - Replacing Insulation: When should insulation be replaced? If Stewart's old insulation is flat or saggy instead of fluffy, it's time to remove and replace it or add more. - Windows: Are triple-pane windows better than double-pane? Double-pane windows should be fine, and Jane Ellen gets tips on ENERGY STAR ratings to look for. - GFCI Outlet: Peter thinks his GFCI outlet has gone bad, but it may actually be tripping because of a short in the circuit that an electrician should investigate. - Garage Doors: The garage door is shimmying and not closing properly. Sounds like the door rollers are failing and we suggest that Nancy replace the door and door opener. ASK A QUESTION: Need help with your own home improvement or décor question? We'd love to help! Call the show 24/7 at 888-MONEY-PIT (888-666-3974) or post your question here: https://www.moneypit.com/ask. Learn more about your ad choices. Visit podcastchoices.com/adchoices

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“All Power And GFCI - Go And Complete Your Mission” Matt 28:18-20 Percy Wellington

Play Episode Listen Later Dec 9, 2023

SERMON - “All Power And GFCI - Go And Complete Your Mission” Matthew 28:18-20 Elder Percy Wellington Jr. | December 9th, 2023 - Saturday, December 9, 2023

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“All Power And GFCI - Go And Complete Your Mission” Matt 28:18-20 Percy Wellington

Tabernacle of Praise SDA Church Podcast

Play Episode Listen Later Dec 9, 2023

SERMON - “All Power And GFCI - Go And Complete Your Mission” Matthew 28:18-20 Elder Percy Wellington Jr. | December 9th, 2023 - Saturday, December 9, 2023

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477: Uncertain and Unsafe

Get Rich Education

Play Episode Listen Later Nov 27, 2023 41:42

Join our free Florida income properties webinar, tonight, Monday, November 27th for 5.75% mortgage rates at: GREwebinars.com Today's topics: Conventional financial advice is God-awful; tertiary real estate markets; I've got a solution to guilt tipping; whether or not the world is uncertain and unsafe. Conventional financial advice is so bad. I attack the practices of setting budget alerts and paying off your smallest debts first. Don't roll a debt snowball; roll a cash flow snowball. In the past five years, tertiary markets are beginning to exhibit the rent stability of larger markets. Guilt tipping is out of control. Learn my elegant solution. You'll never pay a guilt tip again. It seems like the world is increasingly uncertain and unsafe. It isn't. I talk about why it only seems this way. Timestamps: The limitations of budgeting (00:02:43) Discussion on the drawbacks of using budgeting platforms and how they reinforce scarcity thinking. The debt snowball concept (00:05:09) Explanation of the debt snowball method of debt paydown and why it is not aligned with an abundance mindset. Investing in tertiary real estate markets (00:09:43) Exploration of the emerging bullish case for investing in smaller, tertiary real estate markets and their stability compared to larger markets. Tertiary Real Estate Markets (00:10:56) Discussion of the advantages and objections to investing in smaller tertiary real estate markets. Increasing Investor Appetite in Smaller Markets (00:12:02) Exploration of the growing interest and sales volumes in tertiary real estate markets. Guilt Tipping and a Solution (00:20:16) Explanation of guilt tipping and a proposed solution to avoid feeling pressured to leave a tip when making digital payments. Guilt Tipping and the Increasing Expectations (00:21:20) Discussion on the rise of tipping expectations and the use of digital payment prompts to ask for tips. The Problem with Guilt Tipping and the Inconvenience of Undoing Tips (00:23:45) Exploration of the annoyance of guilt tipping and the difficulty of undoing tips after poor service. The Solution: Paying Cash to Avoid Guilt Tipping (00:31:18) Suggestion to pay with cash as an elegant solution to circumvent guilt tipping and ignore electronic payment terminals. The Uncertainty of the World (00:32:25) Discusses how uncertainty has always existed and how waiting for complete clarity can hinder investment decisions. Disasters and Uncertainty (00:33:47) Lists various disasters and events that have occurred in the US, highlighting the constant presence of uncertainty and the relative sense of certainty and safety today. The Ultra Safety of American Society (00:36:13) Examines how society has become ultra safe, discussing the term "safetyism" and providing examples of excessive safety measures. Resources mentioned: Show Notes: GetRichEducation.com/477 Join our Florida properties webinar, free, Nov. 27th at 8:30 PM ET at: www.GREwebinars.com For access to properties or free help with a GRE Investment Coach, start here: GREmarketplace.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” Top Properties & Providers: GREmarketplace.com GRE Free Investment Coaching: GREmarketplace.com/Coach 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 Keith's personal Instagram: @keithweinhold Complete Episode Transcript: Keith Weinhold (00:00:01) - Welcome to I'm your host, Keith Weinhold, with a rant on how conventional financial advice is so terribly god awful an outlook for tertiary real estate markets, then? Are you getting worn down from guilt tipping? I've got a proven solution on how you'll never pay a guilt trip to a business again. And finally, how do you arrange your investing in personal finances in a world that's uncertain and unsafe? All today on get Rich education? When you want the best real estate and finance info, the modern internet experience limits your free articles access, and it's replete with paywalls. And you've got pop ups and push notifications and cookies. Disclaimers. Oh, at no other time in history has it been more vital to place nice, clean, free content into your hands that actually adds no hype value to your life? See, this is the golden age of quality newsletters, and I write every word of hours myself. It's got a dash of humor and it's to the point to get the letter. It couldn't be more simple text to six, 6866. Keith Weinhold (00:01:15) - And when you start the free newsletter, you'll also get my one hour fast real estate course completely free. It's called the Don't Quit Your Day dream letter and it wires your mind for wealth. Make sure you read it, text GRE to 66866. Text GRE to 66866. Speaker 2 (00:01:40) - 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 (00:01:56) - Welcome from Los Angeles, California, to Las Cruces, New Mexico, and across 188 nations worldwide. I'm Keith Wayne holding. This is get rich education. When you pay for a low level service item like a Chipotle burrito, and another human is looking at you to see if you leave a 20% tip on a digital payment terminal, does that make you feel uncomfortable? Well, now you're being asked to. Guilt tip I've got a foolproof way on how to never get put in that situation again. That I'll share with you later here. You know, sometimes you just hear something that triggers a rant. I recently heard an ad for a digital platform that helps you manage your finances. Keith Weinhold (00:02:43) - And what an awful, in scarcity minded way of thinking this reinforces. But this is actually what mainstream financial guidance looks like. All right, it was an ad for a digital platform trying to attract you there. And here's basically how it works. You set up your account. Then based on your income and expenses, you set up your budget. And as you know, that is a bad word around here, a budget. It's not how you want to live long term. All right. Then, when you're close to hitting your spending budget for the month or whatever, this platform triggers a budget alert. Are you kidding me? You get emailed a budget alert. How convenient. Oh, geez. So much for living an aspirational life by design. What a dreadful idea. Like someone that really wants more out of life would actually take effort to set up something like that. You would be building an architecture to establish life patterns that completely say, I think that money is a scarce resource. Now, in the short term, you've got to do what you've got to do, which might mean living below your means for a little while. Keith Weinhold (00:03:55) - But in a world of abundance, delayed gratification should be a short term notion for you. I think that this type of platform that centered around stupid budget alerts is so limiting. Gosh, you've got to feel cheap just saying that out loud a budget alert. But anyway, that sounds conducive to this concept of scarcity based finance called a debt snowball that you can read about the debt snowball on Investopedia. But the debt snowball, that's basically how you pay off your debt with the smallest balance first, not the highest interest rate, but yes, the smallest principal balance it would have basically says is in the first step, what you're supposed to do is list your debts from smallest to largest, and that's regardless of interest rate, just smallest to largest based on the amount. And then the next step is that you make minimum payments on all of your debts except the smallest one, because you pay as much as possible on your smallest debt. And then the last step is you're supposed to just go ahead and repeat that until each debt is paid in full. Keith Weinhold (00:05:09) - That's the debt snowball. So according to that, why do they say to disregard the interest rate, which is your cost of capital? Because they say that when you pay off the smallest debt super quick, that you're going to be jumping up and down with excitement, and that is going to motivate you to keep working hard to get debt free. They say that hope is more important than math. That's the school of thought. And along the way you should lower your expenses, cut spending, work hard and add a side hustle where you can. Oh my gosh, that is all congruent with this debt snowball concept that we sure do not endorse here at. I mean, that is 100% orthogonal to the world of abundance that we believe in. So often on your high interest rate debt. What you would do then is you'd make the minimum payments with this debt snowball, and then you focus it all on your smallest debt amount, regardless of interest rate. You've heard that right? And it even advocates that you stop investing and just focus on that smallest debt amount, even if it's a low interest rate. Keith Weinhold (00:06:22) - That makes no sense. If you've decided that debt paydown is the best allocation of your first expendable dollar. All right, even if that were a yes, then in most cases you'd want to pay down the highest interest rate independent of the total principal balance on each of your debts. I mean, that's arbitrage, but they even bigger question for you, almost existential in nature is why is the best way to allocate your first expendable dollar on debt? Paydown. And. Any way it's or that. First, because one of the first places to look is how you can leverage that dollar 4 to 1 or 5 to 1 as long as you've controlled cash flows. Now, sometimes there are instances where you'd want to pay down debt before investing, certainly like a 20% Apr credit card debt, that could be one such place. So could retiring a debt to help your DTI, your debt to income ratio so that you can originate a new business loan or a new real estate loan first? All right, you might do thatrillionegardless of the interest rate on a loan. Keith Weinhold (00:07:30) - But my gosh, if we want to stick with the snowball analogy, since we're a few days from December here, instead of trying to push a debt snowball up a hill to start rolling a cash flow snowball down a hill, when you buy an asset that pays you a monthly income stream to own it, that is constructive. Compounding your cash flows beats compounding your debt paid out. Instead of trying to push a debt snowball up a hill because you're cutting your one and only quality of life down. Instead, start rolling a cash flow snowball down a hill, and now you've got gravity working with you in the right way. That is the end of my rent. Hey, maybe I just feel like complaining a bit. My Jim was playing Phil Collins and Elton John all weekend, so maybe that's a kind of what in the world kind of mood that had generated in me, I don't know. And hey, nothing wrong with Phil Collins and Elton John. I mean, those guys are truly talented singers, 100%. Keith Weinhold (00:08:28) - I just don't want to be working out to those guys. Michael Bolton, George Michael that's not motivating me to hit 20 burpees. Okay. Hey, well, I hope that you were set up for a great week. Be sure that part of it is that you are signed up for our live event tonight for 5.75% mortgage rates on Florida Income property@webinars.com. Now, whether you're looking at investment property in Florida or most any of the other 49 US states, there's a really nascent and interesting development that's been taking place for at least five years now. And that is what's happening in tertiary markets, smaller markets. I'll define tertiary a bit more shortly, but we're talking about metro statistical areas, MSAs that are probably not under 100,000 population, not that small. From a rent growth perspective. What's happened is that over the last five years, tertiary markets have had similar patterns to bigger markets. And historically, these smaller markets have been more erratic. But in rent growth terms, tertiary markets have stabilized. Now, a primary market is something like New York City or Chicago, a secondary market. Keith Weinhold (00:09:43) - You might think of that as a little Rock, Arkansas, where it's under a million in size, and then a tertiary market that's going to be somewhat discretionary. But we're talking about a population of 100 K up to, say, 300 K. And what's noteworthy is that there are now more analysts and investors that are bullish on vibrant tertiary markets. So let's talk about why this is happening. I think there's an emerging bull case for overcoming some of the historical roadblocks to tertiary market investments in a diversified multifamily or single family rental portfolio. And one classical objection is that tertiary real estate markets are too volatile. Historically, we perceive smaller markets as more volatile. Yes, and some surely are. But over these last five years, markets outside the top 50 in size were regularly more consistent. Okay. They avoided rent cuts in 2020. They recorded sizable but less lawfully rent hikes in 2021 and 2022. And now they remain moderately positive in 2023, even as larger markets have kind of flattened out in the rent growth. Keith Weinhold (00:10:56) - And of course, we're talking about a composite group of tertiary markets here. Some are more stable than others. You got to watch those local trends as always, of course. And you know, classically a second objection with these smaller markets is that, well, it's too easy to add a lot of supply. And yes, that is sometimes true and sometimes it's not. Indeed, there are a handful of small markets that are building like crazy, like Sioux Falls, South Dakota in Huntsville, Alabama. But as a group, the construction rate in what that is is the total units under construction divided by the total existing market, that is 5% in large markets versus the construction rate of just 4% in small markets. See, it can be harder to build in certain small markets due to NIMBYism or a lack of debt availability, especially if local banks aren't interested in the check size needed for construction loans. It can also be harder to build in certain small markets due to a lack. Of equity because it's a tougher sell to ask investors in a syndication to bet on a market that they don't have a lot of knowledge of. Keith Weinhold (00:12:02) - Another objection to these tertiary markets is that small markets are not liquid. Since 2019, sales volumes in dollars going into tertiary markets has doubled. Investor appetite has definitely increased in smaller markets. And that's particularly true among these traditional regional investors that are looking for better yield as the larger cities got pricier. So good small markets, you know, a lot of them really are not secrets anymore. And there's only one more objection to these tertiary real estate markets and that it is harder to scale operations. And yes, there is always benefit in efficiency of scale. But, you know, it's certainly been getting easier with better technology today. Investors can always work with top local property managers. And for investment property owners or managers, they often target small markets adjacent to larger markets where they have a bigger presence. So some other considerations before you as an investor go deep in one of these smaller tertiary markets is you want to be choosy in your market and in your site selection. Look for small markets that have multiple drivers. Keith Weinhold (00:13:13) - You don't just want these one trick ponies. You know, I've discussed with you before about how markets that are heavily focused on commodities or heavily focused on military, they are not favorable because those two sectors, for example, commodities and military, are just pretty volatile. Look for growth or steady markets, lots of small markets. They continue to grow at a pretty healthy clip. And you want to look for markets with an absence of new product. Now why don't I name a few tertiary markets so that you can get a better idea of this. So about 100 K to 300 K in population size. Not that these next ones are necessarily good or bad markets. It's just for size comparison. I'm thinking about Ocala, Florida and Shreveport, Louisiana. You know those two. They're almost getting too big. They're almost secondary markets Wilmington, North Carolina at 300 K. That's a tertiary market. So are Akron and Canton, Ohio Dayton. That's pretty tertiary, but it's also close to Cincinnati. So you got a little more safety in Dayton. Keith Weinhold (00:14:20) - Toledo is secondary. Burlington, Vermont is tertiary. Bellingham, Washington is tertiary. Yuma and Flagstaff, Arizona are both tertiary. Yes. We're talking about the stability in rents in tertiary real estate markets. Conventionally. You know, in the past, I've said that MSAs of 500 K population or more, that's pretty much where you want to be. But anymore, with the rise of remote work after 2019, it's really making some of these smaller tertiary markets more palatable to real estate investors and something that you probably want to consider. So really, that's the takeaway for you here and say this is the kind of stuff that really plays into my interests as a geography guy. See, I'm a real estate guy, but I might be the most geography interested real estate guy out there. Geography is something that I really love, though I could I don't share too much geography here on a real estate show. Sometimes it's relevant because both geography and real estate are location, location, location, but sometimes it's less relevant. Keith Weinhold (00:15:25) - For example, North America's longest river is not the Mississippi, it's the Missouri River. The New York City metro area is so populated that more than one in every 18 Americans live there. That's almost 6% of the entire American population. See, some of this is more trivial or of general interest than it is relevant to real estate. Although you could learn some geography from me. Do you know the closest US state to Africa? If you draw a straight line, the closest state to Africa is not Florida or North Carolina. It is Maine. Look on a globe. Part of the reason that Maine is the closest state is that Africa is primarily in the Northern Hemisphere, not the southern, contrary to popular belief, and to look at a different continent. The entirety of South America is east of Jacksonville, Florida. Here's one more piece of geography. Canada's beautiful and mountainous Yukon Territory is larger than California, yet California has more than 900 times the population of the entire Yukon. Yes, the giant Yukon has less than 45,000 people. Keith Weinhold (00:16:39) - It is the practice of guilt tipping out of control. And how do you respond to our world that seems to be increasingly unsafe and uncertain. That's coming up next. They say, if you give a man a fish you have fed him for. Or a day. But if you teach them to fish, you have fed him for a lifetime. Well, here at gray, we do both. I'm not talking about both in terms of men and women, but we teach you how to fish and give you a fish. Get rich. Education is where we teach you how to fish. With this show, with our blog and newsletter and videos, we also give you a fish. That's it. Gray marketplace. It's one of the few places you'll find affordable, available properties that are good quality there at marketplace. They're all conducive to our strategy of real estate pays five ways I'm Keith Wild. You're listening to get Rich education. Jerry listeners can't stop talking about their service from Rich lending group and MLS. For 256. Keith Weinhold (00:17:45) - They've provided our tribe with more loans than anyone. They're truly a top lender for beginners and veterans. It's where I go to get my own loans for single family rental property up to four plex. So start your pre-qualification and you can chat with President Charlie Ridge. Personally, though, even deliver your custom plan for growing your real estate portfolio. Start at Ridge Lending Group. You know, I'll just tell you, for the most passive part of my real estate investing, personally, I put my own dollars with Freedom Family Investments because their funds pay me a stream of regular cash flow in returns are better than a bank savings account up to 12%. Their minimums are as low as 25 K. You don't even need to be accredited for some of them. It's all backed by real estate, and I kind of love how the tax benefit of doing this can offset capital gains in your W-2 jobs income, and they've always given me exactly their stated return paid on time. So it's steady income, no surprises while I'm sleeping or just doing the things I love. Keith Weinhold (00:18:55) - For a little insider tip, I've invested in their power fund to get going on that text family to 66866. Oh, and this isn't a solicitation. If you want to invest where I do, just go ahead and text family to 66866. Speaker 3 (00:19:16) - This is real estate investment coach Naresh Vissa. Don't live below your means. Grow your needs. Listen to get rich education with Keith Weinhold. Keith Weinhold (00:19:34) - Welcome back. I'm your host, Keith Weinhold. There will only ever be one great podcast. Episode 477. And you're listening to it perhaps on one third of our episodes. Throughout the show's history, there is no guest. It's 100% me, a slack jawed monologue like it is today, and lots of great Jerry episodes coming up in the future, including Robert Helms other real estate guys here soon as he runs alongside me for an episode as we discuss goals. If you get value from and you don't want to miss any future episodes, be sure to hit subscribe or follow on your favorite podcast platform so that you're sure to hear from me again after today. Keith Weinhold (00:20:16) - Is guilt tipping out of control? We have all felt it now. Does this happen to you today when you're about to pay the Starbucks barista or for the subway sandwich and they spin the digital payment terminal around toward you and say, it's just going to ask you a question before you pay. And then they stand there and they look at you in the face and they watch what you choose. All right. Does that right there give you a tinge of anxiety or even stress you out? Well, if you give in to that, that is called guilt tipping. And you know what? I've got a solution to guilt tipping. A simple and elegant way that I'm going to share with you so that you never have to see a payment terminal like this in your face again, that asks you for a tip when you're out shopping or dining and paying for something. Yes, I've got a proven solution for how you'll never even be asked to leave a guilt tip again because I tested it and mastered it. It works. Keith Weinhold (00:21:20) - We even have an unverified report on Reddit of a self-serve digital kiosk now even asking you for a tip. What? I mean, how far will this go? Yes, like a self-checkout for your own groceries at a supermarket like Giant or Safeway? First, let's get some context about why this is so important to you in the first place and how bad it's getting. It might even be worse than what you're thinking here. All right, a new study from Pew Research. It found that 72% of people said that the long standing practice of tipping is now expected in more places than it was five years ago. My reaction to that stat is what? How is it not 100% of people saying that it's happening all over the place, and consumers like you and I are increasingly getting tired of it? The way it works is that today's digital payment prompts, they allow businesses to preset suggested tip levels, so it's easier than ever for them to ask for tips and companies that have not done so in the past. They are definitely doing it now rather than giving employees a raise. Keith Weinhold (00:22:35) - Instead, they're asking you to supplement the employee wage by asking you for tips where they didn't before. Must you fight back like David Horowitz, if you're uninitiated on that? I learned about a popular show that apparently ran on prime time network television in the 1980s. The show was called Fight Back with David Horowitz, and it advocated for how consumers can fight back against unscrupulous business practices. In fact, let's listen into the cornball intro of this show, which your parents might remember. It's something about fight back. Don't let businesses push you around. Speaker UU (00:23:20) - But don't let anyone push you around. Fine, but stand up and hold your ground. I got. Someone tries to you in. Five spot. Just. Speaker 4 (00:23:44) - Oh, jeez. Yeah. Keith Weinhold (00:23:45) - Fight back against guilt tipping, I suppose. See, a few years back, the reason that you began getting asked to leave a tip in places you hadn't before. That's because it was a way for you to provide a gratuity for service workers. Because you were supposed to have appreciated that they showed up during the health crisis when a lot of workers did not want to show up. Keith Weinhold (00:24:09) - But now that the crisis appears largely over with, the tip requests have not gone away. They've gotten worse because by now companies see what they can get away with. Now, look, people don't want to feel like a jerk or a cheapskate. You don't. I don't, but businesses are taking advantage of that fact by making bigger than usual tips. The default option on these payment terminals. It really that's the crux of the annoyance. Say that you're given choices of 20, 25, or 30% on a payment terminal just for someone handing you a pre-made sandwich that's already wrapped in cellophane. I've had it happen to me, and then hoping that you will just go ahead and pay the extra amount, rather than hassling with clicking custom tip and entering a smaller number like 10% or zero. Understand something here. The business call it a sandwich shop. They're not the ones that always decide what tip options you're presented with. Did you know that because the companies that own the payment systems, they can earn a cut of your money from each transaction? Those payment system companies, they also have an incentive to increase those amounts as much as possible, not just the sandwich shop, but they are both complicit in this scheme together. Keith Weinhold (00:25:37) - But now sometimes you get asked to leave a tip beforehand before you're even delivered any good or service. And see, that's getting awkward too. And see the fear of that you and I should have. Now is that in this case, as the customer, as the client, you are going to get punished if you leave a low tip before they deliver the service to you. See, that's another big problem here with guilt tipping. Now, traditionally, tips were thought of as a way to reward good service after you already received what you paid for, right? That's how it works. You pay your server after a meal, you pay your valet. After they bring you your car. You pay the tour guide after your volcano hike or snorkel tour. If you thought that they did a good job. Now, just the other day at a chain fast casual Mexican restaurant that you've certainly heard of, I was being rung up about $35 for two double steak burritos, and there's a lower service level there than a full sit down restaurant. Keith Weinhold (00:26:44) - But I left a 10% tip at the counter on that day. I thought they put lots of steak on them. And then I walked my burritos to the tables and the tables were messy. I could not find a clean table anywhere, but I had already left the tip. It was too late, so I left the tip and then only later did I discover the poor service, the messy tables. Oh gosh, I wasn't going to go back and try to undo the tip, huh? Before I tell you about my elegant solution so that you can forever avoid guilt tipping. So let's understand just where are Americans tipping today? The situations when people add a gratuity. You know, this really offers some insight into the new tipping landscape. And again, this is according to Pew Research for dining at sit down restaurants, 92% of people are tipping there. And of note, a majority said that they would tip 15% or less for an average sit down meal. That kind of surprised me, because etiquette experts say the tipping 20% at a full service restaurant is standard now, and that's what I do. Keith Weinhold (00:27:48) - Okay, getting a haircut 78% of people tip today. Having food delivered 76% for those using a taxi or rideshare service like Uber, 61% of people said that they would tip. I tip for all those things. Buying coffee. Only 25% of people leave tips and eating at fast casual restaurants only 12%. So look, people are upset because we've had years of high consumer price inflation and service inflation on top of that. And then a tip on top of that. Yeah. So it's tip relation on top of inflation. And then there is this preponderance of restaurants especially. It suggests that you tip the post-tax amount. Have you noticed that that means that you're also paying a tip on the tax that you pay? So just pay attention to that next time you're at a sit down, full service restaurant, or really most any other place that suggests a tip amount. And yeah, that's annoying. And I really doubt that that business sends that extra revenue to the IRS where you're paying a tip to the tax amount. Keith Weinhold (00:29:00) - Gosh. But it all comes back to tip and the influx of automatic prompts at businesses like coffee shops, it gives you more chances to tip, and it'll just wear you down and then wear you out, creating this sense of exhaustion thinking what is all this for? It is just wild. If supermarkets are asking you to leave a tip for self checkout, your supermarket wants to outsource their checkout duties from clerks and cashiers to you, asking you to scan your own groceries. By the way, that is an example of service inflation. And then they ask you for a tip. On top of this food inflation and service inflation, you're doing it all yourself. What is next? You're going to have to unload the store's delivery of food from the 18 Wheeler truck in the back, onto a forklift, and onto the shelves yourself. I kind of doubt that. But if grocery stores are convenience stores, self-serve kiosks, if they're requesting tips, then it's more likely that soon enough, your human checkout clerk is going to start requesting tips. Keith Weinhold (00:30:09) - When you're checking out at Whole Foods or Publix or Wegmans or Safeway, that human checkout clerk that's going to appear as some sort of small luxury comparatively. I mean, I would expect that to come to your town next. Expect to see it if you haven't already. There used to be this general understanding of what different tip amounts convey to servers and workers. Now, decades ago, it used to be a 10% tip meant, all right, well, hey, it wasn't horrible, but it wasn't great either. A 15% tip was normal and 20%. That meant that person did an excellent job. But now those amounts have all become expected and they've all been bumped up 5% or more. All right, well, here's my solution to avoid guilt tipping the way to no longer see a digital payment terminal spun around put in your face. Putting you on the spot to make a nice tip is just this two word solution pay cash. Yes, when you pay cash, you don't have to see an electronic payment terminal at all. Keith Weinhold (00:31:18) - And it's far easier for you to ignore a physical tip jar that's sitting on the counter over to the side of you. The elegant and simple solution to guilt tipping is to pay cash. Now go ahead and leave a tip for good service if you want to. I'm not here to suggest that you stop all tipping. It's about how you can make an elegant circumvention of guilt tipping. If you have an eight second long exchange where you ask for a cup of coffee and they turn around and pour it from a spout and hand it to you. And that's all they did. Well, that tips discretionary. The bottom line is that you don't have to tip every time you're prompted. And now go ahead and hit up that ATM with cash. You will be armed and you can avoid guilt tipping completely. And hey, can we say that you will be fighting back like David Horowitz? Tipping is fine, but guilt tipping is out of control. And hey, if you want to see more on guilt tipping, I really brought it to life on a video recently where I really broke it down. Keith Weinhold (00:32:25) - That is on our YouTube channel. We are consistently branded as they say. Our YouTube channel is called get Rich education. So you can watch me talk about guilt tipping and show you more over there. Do you feel like the world that you're living in is increasingly uncertain and unsafe? And is that adversely affecting your investment decisions? That happens to some people and you can't make gains when you stay on the sidelines. I think some people make too much of uncertainty, even though it has always existed. Just look at the last about four years. You know, someone could have said, I am just paralyzed with inaction because of the pandemic. Oh, that's uncertain then the recession fears uncertain, then rising interest rates where they rose fast, uncertain. And today it might be wars uncertain. And you know, the same people that get paralyzed with uncertainty. They will soon say something next year like, well, it's a presidential election year. So. I think uncertainty is going to sideline me again. If you wait for uncertainty to abate, such as you have complete clarity or even great clarity, you're going to be waiting your entire life. Keith Weinhold (00:33:47) - Uncertainty and an absence of complete safety that's existed in the world every single day since the day that you and I were born and before you and I were born. And it will exist after we're gone, too. I mean, really, just look at some of these disasters that have taken place just this century, and we're still in the first quarter of this century. And let's look here at some just in the US, not foreign crises. I'm thinking about the Y2K bug, the September 11th terrorist attacks on the World Trade Towers in the Pentagon, the Iraq war, the invasion into Afghanistan, Hurricane Katrina, where 1800 people were killed, the GREAtrillionECESSION, the Arab Spring, the surprise of Donald Trump becoming our president in 2016. Remember, that was a real upset over Hillary Clinton. How about the jarring events of January 6th of the Capitol less than three years ago, the eviction moratorium, the slow creep of climate change, the riots and civil unrest with the George Floyd protests, the wildflowers from California to Maui. Keith Weinhold (00:35:00) - I mean, I could go on and on about how winners just keep thriving despite a world that's constantly uncertain and unsafe. And I'm only talking about things that involve the United States here, and I'm keeping it confined to this century just a little more than two decades. I mean, before that, we had World wars. We had the Dust Bowl, Cuba's Bay of pigs invasion in the Cuban Missile Crisis that could have led to a nuclear apocalypse that completely destroyed the entire world. There is relative clarity today compared to all that. How about an assassination attempt of our President Reagan? I mean, things are substantially more certain today in a lot of ways. And today, American employment is strong, GDP is growing. Our currency is fairly stable despite our problems, which will always exist. Today, the US economy is outperforming everybody in the world. And in a world that some feel is uncertain and unsafe, just consider the relative sense of certainty and safety you have today. Well, we discuss wars today. As bad as they are when they do happen, they're never on US soil. Keith Weinhold (00:36:13) - Can you imagine an attack on American soil? How would that sound? Like? The enemy has destroyed and taken control of Charleston in Savannah. And next they're moving inland to take down Atlanta. I mean, that's so unlikely that your mind isn't even conditioned to think that way. But the reason that it seems, seems like your world is getting less certain and less safe is because of media. Media is more fractured than it's ever been. It wants your attention. So with more competition with everything from YouTube videos to TikTok clips now competing with legacy media, you get introduced to more fear in order to get your attention. My gosh. I mean, is American life safer than ever? You can make the case that it's become too safe even. I've talked to you before about how things could very well be in safety overboard mode in real estate. Now here we talk about providing clean, safe, affordable and functional housing. But she should need GFCI outlets all over the place in your property, and carbon monoxide detectors and fire rated doors, even when their improvement to your safety is negligible. Keith Weinhold (00:37:32) - American society at large is so ultra safe and in fact, there's even a term for this now it's called safety ism. Yeah, look it up. It's how excessive safety is becoming harmful to society. When you are on your last passenger plane flight at night and you just wanted to take a nice nap, or you wanted to get some sleep, did the pilot come on to the intercom system and wake you up, telling you to sit down and put your seatbelt on every time? Just a small amount of turbulence was being felt. Oh, there are endless instances like that where society's gotten so safe that it's just annoying. The last time that I was shopping at Lowe's, the home improvement store, a forklift driver was slowly driving the aisles really carefully. And besides just the forklift driver sitting on the seat, there was a second man, a flagger, that was out in front of him, walking, holding two little flags. So the shopping customers knew that a forklift. This coming. Like, that's such a wild hazard to human safety. Keith Weinhold (00:38:37) - I mean, gosh, the gross inefficiency of that just to improve safety ever so slightly. Construction workers that have to wear hard hats outdoors in an open field. I mean, our society has become Uber safe. Now, don't get me wrong, some measure of safety is definitely a good thing, but I'm underscoring the fact that historically, this world that you're living in is ultra safe and ultra certain. And then within our investing world, take a look around what can be said to be certain and uncertain. Apple. They're the world's largest company by market cap at about $3 trillion. And their risk is that eventually they might fail to keep innovating. How about Bitcoin? Bitcoin could have government crackdowns or some other lack of certainties, their money in the bank and owning Treasury bonds. All right. That's fairly safe and certain. But you aren't getting any real yield there. And in a world that feels more uncertain and unsafe than it really is, bring it back to the positive attributes of being a real estate investor here. Keith Weinhold (00:39:46) - You know, monetary inflation is a near certainty, and so is the fact that people will pay you rent if you put a roof over their heads. Certainty. It helps to be mindful that safety is the opposite of freedom, and that having security is the opposite of having opportunity. Hey, well, speaking of opportunity, join our investment coach Norris for Grizz Live event that is to night. You can join from the comfort of your own home. You get to select from one of the two options for Florida Income property. You can select either a 5.75% mortgage rate or the 224 program, which means two years of free property management. 2% of the purchase price. In closing cost credit to you and a generous $4,000 lease up fee credit. Sign up. It's free. It's our live event tonight, the 27th at 8:30 p.m. eastern, 530 Pacific. If you're a few days late, be sure to watch the replay soon. register@webinars.com to have a chance at putting some new Build Florida Income property in your portfolio. Keith Weinhold (00:41:00) - Until next week, I'm your host, Keith Winfield. Don't quit your day dream. Speaker 5 (00:41:08) - 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 (00:41:36) - The preceding program was brought to you by your home for wealth building. Get rich education.

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11/25/23 - OPEN HOME HOUR! #ChristmasTree101

Rosie on the House

Play Episode Listen Later Nov 25, 2023 37:49

The decorated evergreen has been around for a long, long time. In light of that, we thought it would be fun to have a slightly different look at this holiday symbol with tips to keep your real tree from drying out. Electrical check for those holiday lights. And homeowner questions about GFCI outlets, shower replacement and a murphy door. Original broadcast archive page with expanded content https://rosieonthehouse.com/podcast/open-home-hour-live-listener-call-ins-texts-emails-weekly-to-do-christmas-tree-101/

original electrical gfci open home

9/23/23 - ON THE HOUSE HOUR! Electrical Maintenance & Improvements

Rosie on the House

Play Episode Listen Later Sep 23, 2023 37:51

Jon Bolenbaugh is a Mighty Electrician! He discusses everything electrical. Electrical panel inspections and proper upgrades especially for electric vehicles, lighting, fire, smoke and carbon dioxide detectors, GFCI circuits and more tips so you can plug in safely. Original broadcast archive page with expanded content https://rosieonthehouse.com/podcast/on-the-house-common-electrical-system-maintenance-and-improvements-with-jon-bolenbaugh-of-the-mighty-electricians/

original maintenance improvements electrical gfci

463: America's Frightening Homeless Problem, Crazy Investing Manias—Tulip Bulbs, Beanie Babies

Get Rich Education

Play Episode Listen Later Aug 21, 2023 53:24

More homeless people have been created due to the housing supply crisis. Homelessness is up 11% since last year, per the WSJ. The opioid crisis, consumer inflation, and NIMBYism have contributed too. California has the most homelessness on both a total and per capita basis. States with higher housing costs have more homeless people. I share our poll results: “Should we pay to house the homeless?” Are you a NIMBY? We find out today. We can increase housing supply with rezoning, construction training, and lower mortgage rates. The cycle of investor emotions led to wild investing manias. It was tulip bulbs in the 1600s Netherlands and Beanie Babies in the 1990s United States. I discuss exactly why “buy low, sell high” is more difficult than it sounds. Timestamps: The correlation between homelessness and the housing market [00:00:00] Discusses the relationship between the housing market and the increasing problem of homelessness in America. Investing manias and lessons from history [00:00:00] Explores the phenomenon of investing manias and the lessons that can be learned from historical examples. The tight inventory market conditions and potential solutions [00:04:56] Lawrence Yun, Chief Economist of the National Association of Realtors, discusses the tight housing market conditions and suggests tax incentives to increase housing supply. Timestamp 1 [00:10:32] Affordability of moving to different cities and the proposal of a tax incentive for real estate investors. Timestamp 2 [00:11:49] Discussion on the housing supply crisis, mortgage rates, and the homeless population in the US. Timestamp 3 [00:14:14] Increase in homelessness in America, reasons behind it, and the correlation between housing prices and homelessness rates. The impact of high density housing on quality of life and home value [00:21:12] Discussion on the potential negative effects of building high density housing near single family homes, including reduced home value, increased traffic and noise, and loss of nearby open space. Alternative solutions to increase housing supply and reduce homelessness [00:23:30] Exploration of alternative measures to address homelessness, such as trade training for the homeless and relaxing excessive safety requirements in home building. Giving real change to the homeless [00:25:50] Encouragement to give directly to homeless shelters or soup kitchens instead of giving small change to individuals on the street, with the concept of "give real change not small change" explained. Note: The timestamps provided are approximate and may vary slightly depending on the podcast episode. The Origins of Tulip Mania [00:31:37] Tulips were introduced to Europe in the 1500s and became a luxury item for the affluent. The cultivation of tulips locally in the Netherlands led to a flourishing business sector. The Tulip Bubble [00:32:55] By 1634, tulip mania had swept through the Netherlands, with the demand for tulip bulbs exceeding supply. Prices reached exorbitant levels, and futures contracts were being bought and sold. Lessons from Tulip Mania [00:37:53] Tulip mania serves as a model for financial bubbles, with similar cycles observed in other speculative assets like beanie babies, baseball cards, NFTs, and stocks. It highlights the dangers of excess, greed, and speculation without tangible value. The cycle of investor emotions [00:44:32] Explanation of the different stages of investor emotions, from optimism to panic, in relation to stock market investing. The peak of the stock market [00:46:43] Discussion on the peak of the stock market being the point of maximum financial risk and the difficulty of selling at the right time. Real estate as a stable investment [00:51:56] Comparison of real estate investment to speculative bubbles, highlighting the stability and income stream provided by real estate. Explains how the integration of HOA (Homeowners Association) helps maintain uniformity and cleanliness in the rental property investing world. Details about the upcoming real estate event [00:38:31] Promotion of a live event where listeners can learn about new construction fourplexes and have their questions answered in real time. Resources mentioned: Show Notes: www.GetRichEducation.com/463 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” Top Properties & Providers: GREmarketplace.com GRE Free Investment Coaching: GREmarketplace.com/Coach 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 Keith's personal Instagram: @keithweinhold Complete episode transcript: Welcome to Get Rich Education. I'm your host, Keith Weinhold. America's homeless problem has become FRIGHTENING. I describe how that correlates… with the housing market. Then, investing MANIAS. What drives people to spend more for one tulip flower bulb than they would for an entire luxury home? And lessons you can learn that'll benefit you the rest of your life from other manias throughout history. All today, on Get Rich Education. ___________ Welcome to GRE! From Seaford, DE to Carmel-by-the-Sea, CA and across 188 nations worldwide, you're listening to one of America's longest-running and most listened to shows on real estate investing. Along with plenty of ongoing hot takes on wealth mindset and the real estate economy. I'm your host, Keith Weinhold. See, the crash in the SUPPLY of available American homes is bad and it isn't just creating more upward prices, it's a contributor to homelessness. Let's talk about some of the drivers of homelessness, understand the problem a little more, how many homeless people ARE there in America, and then… what can we do about it? As you'll soon see, one prominent real estate industry influencer actually suggests that you actually SELL your rental single family homes in order to help serve the homeless. More on that shortly. Also, I have the results from a GRE Instagram Poll. The poll question is: “Should we pay to HOUSE the homeless?” And the answers that you - the GRE listeners gave… actually surprised me. I'll give you those super-interesting poll results later, because I have more to explain there. But first, what IS a homeless person? Let's define it. I think most anyone knows that since it's a person without a home, it's thought of as living on the street. Really, then, that person might not be homeless but “houseless” in a literal sense. Even if they live in a tent under a bridge, that is then, their home. Though it might be INADEQUATE housing. More accurately, the unsheltered or undersheltered population could be more apropos. Then there's vagrancy. A vagrant is defined as a person without a settled home OR regular work… who wanders from place to place and lives by begging. So vagrants are PART of the homeless population then. This all helps DEFINE what we're discussing. Now, the lack of available American housing supply - especially the affordable segment - is OBVIOUSLY a big contributor to homelessness. For example, anymore, how many builders even construct a new-build entry-level home for $200 or 250K? Practically nobody… anywhere. And just how bad is the supply problem now? Well, the NAR has been tracking housing supply since 1982 and it just hit its lowest level ever this summer - EVER - and that's in 40+ years of tracking. That's one reason why just last week, it was announced that Warren Buffett is making a big bet on housing by investing in homebuilders. Now to keep consistent with the same stats I've been reporting to you for you, to update that, again 1-and-a-half million available homes is the baseline supply. That's the long-term “normal” per the FRED Active listing count. And through last month, it's still under 650,000. That is STILL a housing SUPPLY crash of 57% from its peak of 1 ½ million. I want you & I to listen to this upcoming piece together. This recent interview with NAR Chief Economist Lawrence Yun is from the 8th of this month. Yes, HE is the one that basically wants you to sell your SF rental properties. And he makes his case for an inducement to get you to do this. (Ha!) He's not proposing anything COMPLETELY ludicrous. It's REALLY interesting. Listen closely for that. This about 5 minutes in length and there's a lot of material here within this clip - a nutrient dense piece, so I've got SO much to say about this when I come back to comment. [Yun clip] Yeah, the NAR Chief Economist there talking about how, much like I have for years, great opportunity is in the Midwest and Southeastern parts of the US. With this greater ability for people to work from anywhere, when people move in from the pricy coasts, it's sooo affordable to them. Moving from Manhattan to Cincinnati feels incredibly affordable. Moving from San Francisco to St. Louis feels like you've upgraded from serfdom to a kingdom. Moving from Boston to Jacksonville feels like a total life makeover. That's why, here at GRE, we're focused on properties in those INbound destinations. Before I continue, especially for those outside the US, I know that it seems a little odd that Ohio and Indiana are in what we call the Midwest when they're actually in the northeastern quadrant of the nation. But the fact that they ARE midwestern states is rooted in history and in cultural tradition. So, getting back some new angles on the housing supply crisis. Lawrence Yun proposed that a tax incentive be introduced to unleash the inventory of SF rentals from individual REIs. And says that there are over 20 million single-family housing units that are rented out. If we reduced or canceled the capital gains tax & just got 1% of that inventory on the market, he states that that would help. Well, yeah, but even that then would only put about 200,000 units of the market - and they'd get snatched up so fast. Now, if mortgage rates come down to say, 5%, it would unleash both housing demand AND supply. Both - like Lawrence Yun says. So it's not apparent that that would help this shortage, if both demand and supply go up. In a nation of about one-third of a BILLION people now - that's how I like to express it this year - America now has one-third of a billion people… also known as 333 million - how many do you think are classified as homeless? As you think about that - as you think about how many of America's 333 million Americans are homeless, this homeless population figure that I'm about to share with you is from HUD and it's through last year, so it's their latest year-end figure. And I'll tell ya, it's hard to believe this number. The Department of Housing and Urban Development states that about 582,000 Americans are experiencing homelessness. Now, how HUD does this is that their number is a snapshot of the homeless population as of a single night at the end of January each year. The total number of people who experience homelessness for SOME PERIOD each year will be higher than that. I just did the math and then that means that just 1 in every 572 Americans are homeless. C'mon. Do you believe that? Only one in every 572 Americans are homeless? I might believe that it's something like more than 1 in 200. What are your thoughts? Even HUD would probably concede that there are shortcomings in that stat and that it's only a starting point. And over the last decade, according to HUD, the homeless population is little changed… apparently until just this past year. Homelessness is surging in America. The number of people experiencing homelessness in the US has increased 11% so far this year over 2022. That would be the biggest jump by far in equivalent government records beginning in 2007. Now this 11% homeless jump is according to a WSJ analysis of hundreds of smaller & local agencies. Most agencies say the alarming rise is because of the lack of affordable housing and rental units, and the ongoing opioid crisis. Inflation is part of that affordable housing problem. Inflation widens the disparity between the haves and have-nots. To cut some slack to census-type of surveying, homelessness can be hard to measure. Some live on skid row, some live in the woods, some homeless people live in their cars. Some aren't interested in being counted. Others are essentially invisible. I mean, if someone's between jobs and needs to couch surf at their aunt and uncle's place for three months, are they homeless or not? So, to be sure, there's a lot of leeway in those numbers. One in 572 as homeless - that should just be a minimum - a starting point in my opinion. Now, homelessness broken down by STATE is really interesting. California at 171,000, has the most of any state, more than double of next-most New York, and then Florida is third. But let's break that down by rate - on a per capita basis. So… think of this as the highest CONCENTRATION of homeless: Washington DC has 65 homeless per 10,000 people. That's not really a state though, so… #1 on a per capita basis is STILL California, with 44 per 10,000. So California leads in the nation in homeless on both bases then - both absolute and relative. The second highest rate is Vermont. Third Oregon Fourth Hawaii Fifth is New York And then numbers 6 through 10 on the most homeless per capita are Washington, Maine, Alaska, Nevada, and Delaware. Now, strictly anecdotally. You've probably seen just what I've seen in the last year-plus - more visible homeless people in your city and other cities. The state with the FEWEST homeless of all 50 states is Mississippi - and see, housing is quite affordable there. MS is one of the most affordable states for housing. There is at least SOME correlation between your cost of housing and homelessness. Recently on our Instagram page, and the handle there is easy to remember - it's @getricheducation - if you want to participate in future polls, we ran a poll on homelessness. Here is the poll question that we ran - and I'd like you to think about your answer to this too. “Should we pay to house the homeless?” That's the question. And in polling, the way that the question is phrased, of course, can skew your answer. See, if instead, we phrased it as, “Should the government house the homeless?” you might have more ‘yes' answers - even though it's the same question - because you FUND the government. But the question as we phrased it: “Should we pay to house the homeless?” - it also showed a photo of vagrants on a street curb under the question. Here we the results, which surprised me, to: Should we pay to house the homeless? Those answering “Yes” were just 6% The no's were 45% But we also had a third option: “It's complicated”. 48% answered with that option. So again, just 6% of you said we should pay to house the homeless and 45% said “no”. “48% said it's complicated”. In a way, that makes sense to me since we have a largely entrepreneurial, self-made type of audience. I thought that might have happened. But what surprised me is in how emphatic it was. It was a landslide. 7 to 8 TIMES as many of you said we should not pay for the homeless as those that said we should. Well, the reason that I added - and I'm the one that ran the poll myself - they're quick to do. I added the paying to house the homeless “It's complicated” option because it IS complicated… that WAS the most popular answer. I mean, why should you go to work and pay to house a stranger that has no income because he or she doesn't want to work? But what if they're disabled and they can kinda work but not really work… or a zillion other complications. Substance abuse is obviously a big problem that keeps homeless people homeless… and there's a substantial thought paradigm that says, if they're an abuser, then why would I pay for THEIR housing? Substance abuse is just one reason that there is a population that's VOLUNTARILY homeless. They don't want to have to comply with a group home's ban on substances. I wanted to address the homeless problem somewhat today, because here we are on Episode 463 of a real estate show and this is the most that we've even discussed it. I think the perspective it gives you is that it helps you be grateful for what you've got. But it's abundance mentality here. You can be grateful for what you have and at the same time, grow your means. What else would help with more housing supply which would also move us toward mitigating the homeless problem? Well, we've already discussed a number of them so I'll only go in depth with some fresh angles here. Obviously, more homebuilding. We've done episodes on how 3D printed homes and shipping container homes are not quick, easy answers. Tiny homes might be but then you could get into a zoning density problem again. Just last week, my assistant brought me this Marketwatch article that reported that the average American home size is shrinking just a little & that often times, new-build houses tend to be a little closer together. That's what gets us into relaxing zoning requirements. But you know something, OK, this is going to be interesting. This plays into NIMBYism. Not In My Backyard: communities saying that they don't want high-density housing built next to them. Now, I think that there are a lot of critics of NIMBYism. But the criticism comes from people that live far out of that area and aren't affected. Let me just play a fun little experiment with you here. Let me paint a picture of a fictitious life for you and just… place yourself there. Say that you live in a nice single-family home, with a quarter acre lot. It's not a sprawling estate but you've got a good measure of privacy that way. You're in a SFH, quarter-acre lot and two car garage. That is classic suburbia. And… just a hundred yards away from your home there's a big, wide-open field where you walk your dog and use as a little makeshift golf driving range or whatever. Nice open space nearby. Say you've got a fairly idyllic life here. It's always been this way since you bought the home years ago. Suddenly, in your neighborhood of all SFHs, you learn that they want to build a bunch of fourplexes in the nearby lot where you used to throw tennis balls to your dog. What can that do to your quality of life & your home's value, now that a bunch of new fourplexes and eightplexes were built nearby? It reduces your home's value because there are less valuable, high density properties nearby. It also increases the amount of traffic & even noise in your neighborhood. Now you can't use that nearby park anymore - it's been all-built up with these higher-density apartments. So, let me go back and ask - point blank - did you really want all those new high-density developments near your home? If that made you uncomfortable, that's NIMBYism. So it's quite natural to evoke that feeling type. You're just a human being. How else can we increase housing supply to help reduce homelessness? NOT with rent control. Over time, capping the amount of rent that a LL can charge gives property owners no incentive to improve their property and neighborhoods end up dilapidated. We need more training for tradesman and laborers. How about training the homeless for that? But then someone's got to pay for that training. Another measure that's become ridiculous is that we've gotta relax these excessive safety requirements in homebuilding. Now, some safety is good. But when every single home - entry-level and all needs to have fire-rated shingles and fired-rated doors and GFCI outlets and smoke detectors in every room and carbon monoxide detectors all over the place, sheesh! Well, that raises the cost of housing for everyone. In some earthquake-prone areas, you've got to have seismic restraining straps on your water heater or you can't even sell your home. Do you know how big of an earthquake it would take to damage your water heater like that? And an excessive safety PROPONENT might say, yeah, but did you hear about that one family that died ten years ago that would have lived if they had carbon monoxide detectors? Well, the counterargument to that is, yeah, but what about all the homeless people that were exposed to the elements and died in the cold because they couldn't AFFORD the more basic housing, the prices of which have escalated for all this excessive safety stuff. Are you saying a middle class person's life is worth more than a poor, homeless person's life? That's the counterargument. Again, some safety is good. But we've gone overboard in too many places - in housing & beyond. Rising housing costs keep people homeless. A few weeks ago, I did that episode about escalating insurance costs. I now own some properties that have extremely low mortgage rates and the insurance has gone up to the point where I pay more in monthly escrow expenses than I do principal & interest. But, hey. I'm not homeless, and if you're listening to this, neither are you. So when it comes to helping the homeless in the short-term, that campaign called, “Give real change, not small change.” - that really resonates with me. Don't give 5 bucks to a vagrant on the corner. That just keeps them showing up at that corner, plus they're going to spend your 5 bucks on a cheap bottle of Monarch vodka. Instead, if you're going to give, give to a homeless shelter or soup kitchen. That's what's meant by “Give real change, not small change.” And that's something actionable. Coming up next, investing MANIAS. How wild it gets - paying more for a tulip flower than a SFH, shooting and killing someone over a Beanie Baby toy… and then I'm going to wrap it all up with what all this has to do with the cycle of your investor emotions. Around here, we don't run ads for the Swiffer. This week's sponsors that support the show are people that I've personally done real estate business with myself and have benefited from. Ridge Lending Group specializes in INVESTMENT property loans in nearly all 50 states. Start your prequalification at: RidgeLendingGroup.com Then, for super-passive real estate returns, check out Freedom Family Investments. Right now, what you can do, is just text “FAMILY” to 66866. I'm Keith Weinhold. You're listening to Get Rich Education. ___________ Welcome back to the GRE Podcast. I'm your host and my name is Keith Weinhold. If you've got a friend or family member that you think would benefit from the knowledge drops here on the show, you can simply tell them to grab the free Get Rich Education mobile app. That's a convenient option for listening every week for both iOS and Android. Today's topics of homelessness and investing manias could very well bring a new audience here, so… A little more about my backstory. I'm from PA but got my real estate comeuppance in Anchorage, Alaska of all places & grew out nationally & internationally from there. I had humble beginnings and wasn't born anywhere near wealthy. I had to figure out how to build it myself. But see, if I were born wealthy, I wouldn't have learned how to build it, and then I wouldn't be of much help to you. Likewise, if you're building it yourself, you'll be able to help others too. BTW, I was born in the same PA town as Taylor Swift. Though she & I don't have much ELSE in common, I guess that she & I are both best-known for using a microphone. Though I think that I'm about as likely to start using this microphone to sing into your ears like Taylor Swift does… as Taylor is to launch a real estate investing show. For hundreds of years, the tulip has been one of the most-loved flowers in the Netherlands. It's an enduring icon - as synonymous with the country as clogs, windmills, bicycles, and cheese. The tulip has a long and storied history - including the infamous shortage in the 1600s known as “tulip mania”. If you're someone that has even a fleeting interest in investing, you should at least know what this is. Tulips first appeared in Europe in the 1500s, arriving from the spice trading routes… and that lent this sense of exoticism to these imported flowers that looked like no other flower native to the continent. It's no surprise, then, that tulips became a luxury item destined for the gardens of the affluent. According to The Library of Economics and Liberty, “it was deemed a proof of bad taste in any man of fortune to be without a collection of [tulips].” Hmmm. Well, following the affluent, the merchant MIDDLE classes of Dutch society sought to emulate their wealthier neighbors and also demanded tulips. So to start out with, it was purchased as a status symbol for the sole reason that it was expensive. But at the same time, tulips were known to be notoriously fragile, and would die without careful cultivation. In the early 1600s, professional cultivators of tulips began to refine techniques to grow and produce the flowers locally in the Netherlands. They established a flourishing business sector that persists to this day. By 1634, tulipmania swept through the Netherlands. The Library of Economics and Liberty writes, “The rage among the Dutch to possess tulip bulbs was so great that the ORDINARY INDUSTRY of the country was neglected, and the population, even to its lowest dregs, embarked in the tulip trade. Now, everyone's in - rich to poor. It's a little hard to say for sure how much people paid for tulips. But Scottish journalist Charles Mackay, wrote an extremely popular 1841 book - you've probably heard of this book - it's called the Memoirs of Extraordinary Popular Delusions and the Madness of Crowds… It does give us some points of reference such that the best of tulips cost upwards of $1 million in today's money (but a lot of bulbs traded in the $50,000–$150,000 range). By 1636, the demand for the tulip trade was so large that regular markets for their sale - like a little Dow Jones Industrial Average - got established on the Stock Exchange of Amsterdam, in Rotterdam, Haarlem, and other towns. It was at that time that PROFESSIONAL TRADERS got in on the action - that's all that some people do now - is trade tulips… and everybody appeared to be making money simply by possessing some of these rare bulbs. Dutch speculators at the time spent incredible amounts of money on bulbs that only produced flowers for a Week—many companies were formed with the SOLE PURPOSE of trading tulips. To everyone, at the time, it seemed that the price could only go up forever. Pretty soon, demand for tulips EXCEEDED THE AVAILABLE SUPPLY of tulips by so much that people were into buying futures contracts, basically saying, I'll pay you this much money TODAY for a tulip that you provide to me in 3 years. By the last 1630s, these futures contracts were like a crack that appeared in the price runup. Demand began to wane when people were just buying a token for a future tulip that hadn't even started growing yet. People felt like they weren't buying anything tangible anymore. That's one factor that helped create an oversupply of tulips in the market and started depressing the prices. Supply caught up with - and exceeded - demand. A large part of this rapid decline was driven by the fact that people had purchased bulbs on credit, hoping to repay their loans when they sold their bulbs for a profit. But once prices started to drop, holders were forced to sell their bulbs at any price and to declare bankruptcy in the process. So people had begun buying tulips with leverage, using margined derivatives contracts to buy more than they could afford. But as quickly as the run-up began, confidence was dashed. By the end of 1637 is when prices began to fall and never recovered. And the bubble burst. Buyers announced that they could not pay the high price previously agreed upon for bulbs, and that made the market fall apart. While it wasn't actually a devastating occurrence for the entire nation's economy, it did undermine social expectations. The event destroyed relationships built on trust and people's willingness and ability to pay. It's been said that “the wealthiest merchants to the poorest chimney sweeps jumped into the tulip fray, buying bulbs at high prices and selling them for even more.” Well, this is what can happen - today it happens with financialization and nothing real backing up purchases. Tulipmania is a model for the general cycle of a financial bubble. That's what happened with Dutch tulips. Now, here in more recent times, similar cycles have been observed in the price of Beanie Babies, baseball cards - I got caught up in the baseball cards as a kid, owning more than 100,000 baseball cards at one time, also non-fungible tokens (NFTs), and shipping stocks. The example of tulipmania is now used as a parable for other speculative assets, such as cryptocurrencies today or dotcom stocks from around the year 2000. So, when you hear someone likening an investment to a Dutch tulip bulb, now you'll know what they're talking about. It's a symbol of excess, greed, and FOMO. But there has been a good bit of more modern scholarship that tells you that tulip mania did indeed occur in the 1600s Netherlands. But that the tale has been exaggerated and it's something that the upper classes of society were mostly involved in. Now, that's the Dutch tulip bubble. But for a more modern-day parable about an investing mania, there's a new movie about the rise & fall of BEANIE BABIES that's on Apple TV+. These were little stuffed, plush toy animals that became more popular among adults than children. The rise and fall of Beanie Babies—toys that people mistakenly thought would make them rich. The movie is called “The Beanie Bubble”. It's a MOSTLY TRUE account of the lovable toys' boom and bust in the '90s - comparable to the meme stock frenzies that took place during the Covid-19 pandemic. These $5 pellet-stuffed plush toys had astronomical appreciation estimates: Stripes the Tiger, released in 1996, was predicted by collectors to surge from $5 to $1,000 by 2008. Forecasts like these were so enticing that one dad invested his kids' college funds in Beanie Babies, thinking he'd resell them later for a hefty profit. At the height of the frenzy, people were ruining relationships and committing felonies to get their hands on some of these sacks of fuzz. Border officials confiscated more than 8,000 smuggled Beanie Babies at a US–Canada border crossing in 1998. A West Virginia man shot and killed a former coworker in 1999 after an argument partly about $150 worth of Beanie Babies. That same year, a divorcing couple couldn't agree on how to split up their collection, so the judge made them divvy up the toys in person, right on the courtroom floor. How did that all happen? Barely anyone cared about Beanie Babies when a company called Ty Inc. launched them in 1994. Stores only got lines out the door once the toy's creator, now-billionaire Ty Warner, began pulling strings to juice demand. Here's what Warner did. OK, so here's how you induce people into a speculative bubble. He refused to stock Beanie Babies at Toys R Us and Walmart. Instead he created an illusion of rarity by only selling them at small toy stores and independent shops. Even if you did find a retailer, every store's supply of Beanie Babies was limited to 36 of each animal, so inventory restocks drew a crowd. This, combined with Warner's decision to start “retiring” certain animals in 1995, created artificial scarcity and a mass panic to stock up on Beanie Babies. Soon, an aggressive resale market was born, replete with magazines and blogs and even trade shows for these Beanie Babies. One woman's guide to the secondary Beanie Babies market got so popular that she was selling 650,000 copies per month and, on many days, she did two or three radio interviews before her kids woke up for school. Ty Inc. later gave her an award for boosting sales. At Peak Beanie mania, Ty Inc. and legions of speculators actually made hordes of money: The stuffed animals accounted for 6% of eBay's sitewide sales in 1997 and 10% in 1998. Beanies averaged a resale value of $30—six times their retail price—but rare ones, like the Princess Diana bear, went for hundreds or thousands of dollars (and now you can find one online for $15 bucks). Ty Inc. hit $1.4 billion in sales in 1998, which is what Mattel grossed in Barbie dolls in 1995. At the end of the year, Ty Warner gave all ~250 employees holiday bonuses equal to their annual salaries. But most regular people didn't sell their Beanie Babies at their peak price. And unfortunately for them, the hype subsided. Anticipating a drop in interest as more kids reached for Pokémon and Furbies, Ty Inc. announced it would stop making Beanie Babies at the end of 1999, and that poked a hole in collectors' this-will-never-not-be-popular mentality and that sent demand plummeting. There were no underlying fundamentals to Beanie Babies' value. That's all that I've got on that speculative craze. So let's review how this happened with both speculative crazes - Dutch tulips and Beanie Babies: Investors lose track of rational expectations. Psychological biases lead to a massive upswing in the price of an asset or a sector. A positive-feedback cycle keeps inflating prices. And soon, investors realize that they are holding an irrationally-priced asset. Prices collapse due to a massive sell-off, and an overwhelming majority go bankrupt. Now, much stock market investing is based off of buy low and sell high mentality. And stock investors can get caught up in similar crazes. But because many stocks are tied to productive companies, the stock investor deals with smaller bubbles. A lot of times, the stock price can double, triple, or even 10X even though that company is not even profitable. Buy low & sell high. Well, that sounds easy. But why is this harder to do than it sounds? It's called the cycle of investor emotions. It starts here with… optimism. Because you HEAR about 10% stock returns or people making money with Dutch tulips or Beanie babies. Let's say that you aren't fully invested in the stock market. But some friends are, and they're achieving small gains. Then comes excitement. The market is now up some more. Hey, what's in motion tends to stay in motion. More friends are telling you how much money they're "making". You're soon experiencing a full-blown case of FOMO—Fear Of Missing Out. The next stage is the Thrill you feel. So you jump into the stock market fully, rationalizing with something like, "Hey, I'm a momentum investor". Sounds pretty good, I guess. Now that you're in, it actually feels fantastic to you for a short time. You figure that some days, you're making more from stocks than your job. Winning activates dopamine. Dopamine is a brain chemical that's known as the “feel-good” hormone. It gives you a sense of pleasure. It also gives you the motivation to DO SOMETHING when you're feeling the pleasure. So then, you add MORE shares… at an elevated price until you are FULLY invested. Now everyone is "making money", even your Uber driver. The next stage is Euphoria - The peak! As you can see, this is the Point of Maximum Financial Risk. OK, now, remember the simplicity of “buy low, sell high”? Well then, savvy stock investors should now be SELLING here in my example - at the HEIGHT. Now be “selling”? Leaving the party at its crescendo? Stopping the dopamine flow? Yes, exactly… and THAT'S why it's so difficult. What happens after the stock market peak? Overbought, with bloated price-to-earnings ratios, the market soon drops 10% from its recent high. That's what's known as a correction - a drop of 10% or more. Now you feel a little ANXIETY. Your dopamine flow is stifled. Next, you tell yourself, "I shouldn't be worried because I'm a long-term investor." It's down 15%. You're experiencing DENIAL & FEAR. Now you're checking the Robinhood app almost hourly to see if it will recover. Next, comes Desperation & Panic - Stocks are down 20%, that's the definition of a bear market. You're devoting more mindshare to this each day than what's healthy. Then there's Capitulation - Down 30%, you finally surrender to a FEAR of FURTHER LOSS. You're getting so sick of months of losing. You finally do it and cash out your stocks into a safe money market fund. Now you're out. And you rationalize and justify doing this because you tell yourself, "You know, at least when I wake up tomorrow, I'll know that I haven't lost money AGAIN. And THAT gives me certainty.” The next stage in the Cycle of Investor Emotions is Despondency - You realize that what you've done is the polar opposite of successful investing. It's complete. You've now bought high… and then sold low. Next, stocks completely bottom out. But this is actually the Point of Maximum Financial Opportunity. Instead, you should be buying. But you can't. Because you're experiencing the next investor stage - Depression. You're so full of contempt for the situation that the idea of actually buying at bargain-basement levels again is simply inconceivable. You've been burnt badly. Then, there's Hope & Relief - The market has begun ticking up after the crash. It soon should be clear that share prices are FAIRLY VALUED again. But you don't buy the recovery story. You wait until enough price growth occurs that the confidence and Optimism stage is felt again before you'll even consider getting back in and buying. And the entire pattern repeats. That's the “cycle of investor emotions”. There's an average of 3-and-a-half years between each stock bear market, BTW. Of course, we've been kind to call this all “investing”. It's more like speculating. But here's the real problem—most investors THINK they're better than average stock pickers, so they keep playing this game. This effect has a name. It's called illusory superiority. It's like how at least 70% of people think they're better than average drivers, despite the statistical impossibility. Even professional money managers fall prey to this! Fewer than 10% of active U.S. stock funds manage to beat THEIR benchmarks. The renowned British economist and value investor Benjamin Graham once said: "The investor's chief problem—even his worst enemy—is likely to be HIMSELF." Well, as real estate investors, we largely SIDESTEP the cycle of investor emotions for two main reasons. Returns are more stable. Real estate, we sidestep this emotional roller coaster. Not only do we have stable prices, but appreciation is one of just 5 ways that you're simultaneously paid. RE also has monthly income. Dutch tulips or Beanie Babies don't pay you a durable monthly income stream. They don't provide an income stream at all. And finally, RE is a REAL asset that fulfills a REAL human need. I hope that you enjoyed this journey through speculative bubbles today and how they play into human psychology and investor emotions. Go ahead and tell a friend about Get Rich Education. If you've got a friend or family member that you think would benefit from the knowledge drops here on the show, you can simply tell them to grab the free Get Rich Education mobile app. That's a convenient option for listening every week for both iOS and Android. My name's Keith Weinhold and I'll be back with you right here… next week. Don't Quit Your Daydream!

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Why do some home inspections take so much time

Play Episode Listen Later Aug 7, 2023 28:02 Transcription Available

In this episode, Reuben and Tessa discuss the factors that can affect the duration of a home inspection. Tessa mentions how complicated houses with multiple additions, large square footage, and older construction can significantly extend the time it takes to complete an inspection. They also talk about the challenges of inspecting attics, crawlspaces, and roofs, which can add to the overall time due to setup, access, and the need to inspect different roof coverings. They emphasize the role of the home inspector themselves, highlighting that individual inspectors may complete inspections at varying speeds based on their experience, thoroughness, and efficiency. The hosts also touch upon the influence of clients, agents, engineers, and even deferred maintenance on the inspection time. They share anecdotes of challenging inspections and how certain unexpected situations can extend the process, such as needing to reset multiple GFCI outlets and handling unforeseen problems. Ultimately, Reuben and Tessa conclude that a longer home inspection doesn't equate to a problematic house. Instead, it reflects the complexity of the inspection process and various variables at play.

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2023 NEC Updates (with John Williamson)

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Play Episode Listen Later Jul 31, 2023 59:57

In today's podcast, Reuben and Tessa are joined by John Williamson, a retired Chief Electrical Inspector and electrical expert from Minnesota. The main topic of discussion revolves around the adoption of the 2023 National Electrical Code (NEC) in Minnesota and its impact on residential properties and its date of effectivity. The podcast delves into significant changes, such as the expanded use of GFCI protection in kitchens, now covering all receptacles, including wall outlets. They also highlight updates for specific appliances, and outdoor outlets, and touch on AFCI protection when replacing electric panels. Throughout the discussion, John provides valuable insights and explanations behind these changes to ensure electrical safety and compliance for homeowners, electricians, and contractors. Reuben and Tessa emphasize the importance of staying informed about these changes to ensure that home inspections, sales, and purchases comply with the updated NEC for enhanced electrical safety. The episode wraps up by directing listeners to additional resources for more information about the 2023 NECPlease see the link below for the NEC Changes and detailed information.https://www.dli.mn.gov/sites/default/files/pdf/NECFAQ23.pdfAlso, here's a link to some of John's articles on LinkedIn: https://www.linkedin.com/in/john-williamson-ab678138/recent-activity/all/

The Latest James Beard Award Winner in Atlanta; GFCI What does it mean and why are they needed?

Cleve Gaddis Real Estate Radio Show

Play Episode Listen Later Jul 3, 2023 12:00

Are you looking to eat delicious, award-winning food in Atlanta? This week on the radio show, we talk about the latest James Beard award winner in Decatur. Then, real estate expert, Cleve Gaddis dives into GFCI. What does it stand for and what is it used for? Host of GoGaddis Radio, Cleve Gaddis, has been a fixture in metro Atlanta real estate since 2000. He has served Atlanta since 1987 by helping thousands of buyers and sellers make smart decisions. As a Co-Team Leader of Modern Traditions Realty Group, he is able to help clients and real estate agents alike. He has the heart of a teacher and is passionate about helping listeners learn the ups and downs and the ins and outs of smart home buying and selling all throughout metro Atlanta. If you have a question for Cleve, click here : https://gogaddisradio.com/ask-a-question If you are looking to buy or sell your home with Cleve, click here : https://moderntraditionsrealty.net/contact If you are looking to join a real estate team, click here : https://moderntraditionsrealty.net/career-opportunity

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Let's Ask Paul | Episode 136 | Paul disagrees AGAIN with NECA's QOD “Charlie.”

Play Episode Listen Later Jun 28, 2023 15:20

Listen as Paul Abernathy, CEO, and Founder of Electrical Code Academy, Inc. the leading electrical educator in the country, as he answers more questions from the Let's Ask Paul Portal over at www.PaulAbernathy.com.In this episode, Paul will tackle the questions submitted by a listener. The topics covered in this episode are GFCIs in bathrooms and what happens if a lighted mirror with built-in receptacles is installed. Are they required to be GFCI Protected? Listen as Paul explains his opinion and it differs from the NECA opinion. If you are looking to learn more about the National Electrical Code, for electrical exam preparation, or to better your knowledge of the NEC then visits https://fasttraxsystem.com for all the electrical code training you will ever need by the leading electrical educator in the country with the best NEC learning program on the planet.

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Ep 96 - Pushing options a high season sales risk - June 21 Clay and Joseph discussed the common problem of sales teams getting complacent during high season and relying on customers' natural interest to push sales, leading to a decrease in conversions. They emphasized the importance of consistent processes and tracking data to avoid falling into this trap. Joseph and Clay discussed the importance of sticking to the process and offering six options to customers, even during times of high demand. They emphasized the need to practice and perfect the process to make it efficient and muscle memory. - PLAY Clay and Joseph discussed the benefits of offering multiple options to customers, including creating a sense of helpfulness and providing choices for different budgets and needs. They also briefly brainstormed six potential options for a customer who wanted to relocate a GFCI. -Clay and Joseph discussed various options for a customer who wanted to move a GFI in their kitchen, including localizing all GFIs in the home, adding USB and backlit outlets, and offering whole home electronics protection. They were able to come up with 12 options in 9 minutes and emphasized the importance of understanding the customer's needs and offering a range of choices. Want options help for your next job??Come join us live on our facebook community:https://www.facebook.com/groups/electricpreneursecretshttps://www.facebook.com/groups/electricpreneursecrets

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Crisis is Seasonal | Faith Over Fear with Sarah Cruse

Play Episode Listen Later Jun 17, 2023 38:40

Sarah Cruse joins us to talk about how to succeed in this market. It's a hard road to success and there are always more things to learn. ResourceCheck Out Her WebsiteReal Estate Marketing DudeThe Listing Advocate (Earn more listings!)REMD on YouTubeREMD on InstagramTranscript:00:00:00:03 - 00:00:28:01UnknownSo how do you attract new business? You constantly don't have to chase it. Hi, I'm Mike Webster, Real Estate Marketing Dave. And this podcast is all about building a strong personal brand. People have come to know, like trust and most importantly, refer. But remember, it is not their job to remember what you do for a living. It's your job to remind them, Let's get started.00:00:31:05 - 00:00:47:10UnknownWhat's up, ladies and gentlemen, welcome to other episode of the Real Estate Marketing Dude Podcast. Folks, what we're going to get to is a look the title of today's episode. You're like, What the hell is that mean? Crisis is seasonal. And this is I've been talking to people all over the country. I always do. And I asked one of the questions I ask is, how are people doing?00:00:47:10 - 00:01:06:23UnknownHow are people doing? If you click on social media right now, you would think that nothing's wrong because everyone's, oh, just a great old God damn well I don't like saying that word. It's just a damn good time. And you probably are like, you wouldn't think anything's going wrong, but, you know, I think we're all lying to us and people who are who are crushing it right now.00:01:07:00 - 00:01:24:19UnknownGod bless you. Like congratulations. Keep going. But the reality is there's a lot of people who are not. As a matter of fact, 60,000 are real estate agents just left the industry according to some recent stats. I've seen them from multiple places. I'm sure that number is not higher because once renewal comes around, I think that's going to even increase greater.00:01:25:14 - 00:01:46:23UnknownI don't know what show we're on, but probably about six months ago I said multiple shows. I said the amount of agents leaving the industry is going to be greater than the less amount of homes that are being sold within the same marketplace. And if you guys remember that episode, if you didn't go listen to my shit because I know what the fuck I'm talking about and it's happening right now.00:01:46:23 - 00:02:09:15UnknownSo yes, transactions are down. But don't get me wrong, there's still opportunity out there. And what changes is the way you market your business, the way you look at your business, the way you approach your business, because if you keep doing the same thing, you're not adapting the business, you're just the salesperson chasing the check. So we're going give you some fucking real world advice today and if that's you right now, listen, pay attention to this, because this might be the episode you're waiting for.00:02:09:22 - 00:02:30:01UnknownAnd we're going to just talk about business life, how you overcome these peaks and valleys, trials and tribulations within your lifetime. If you also listen to my show, I always talk about my faith in Christ. The reason for that is because that's what got me through all of my seasons. And trust me, I've had quite a roller coaster in my lifetime, so so is our guest.00:02:30:08 - 00:02:42:11UnknownSo what we're going to do today is introduce our guests. You actually, we just got out here. She thought we were going to prepare for the show. I'm like, no, we're going fucking live right now. You're not. We're going to take notes and prepare on how we're going to go out and do this show. I'm like, No, I've never done that in my life.00:02:42:18 - 00:03:02:20UnknownSo what we're going to do is we're going to go live right now and just roll with it. So I've known her for quite a while. I actually should probably since 2015 ish, I'm guessing. Yep. And I remember when I first met her was at a club wealth event, I would believe, and I was speaking and she was an attendee and she came up and grabbed me.00:03:02:20 - 00:03:17:23UnknownShe's like, Tell me how you doing this? Tell me how Eunice She was asking all the questions and she was, you know, like you could just tell she was going to do something and then she ended up wrecking crushing it and really doing well. And you have quite a story to tell. So sorry for the long, drawn out informational introduction here.00:03:17:23 - 00:03:54:02UnknownBut without further ado, Sarah Cruz. Hi, Sarah. Hey, thank you for having me on that was a really good intro. Um, yeah. So yeah, like he said, I did not prepare for this, so just, you know, hopefully don't sound whiny or anything, but back in 2015, I left emotionally abusive husband packed up, my kids left. 2016, I was divorced and I, I had been a stay at home mom.00:03:54:02 - 00:04:28:05UnknownAnd so I felt at the time that real estate was my only option because I couldn't afford daycare. All three all three kids were not old enough to be in public school. And so low income just straight. Just no. And just like boom. Yep. You got I think that what I had going for me is I had been a loan officer back before 2008 and then I had I went ahead and by the grace of God had my real estate license.00:04:28:05 - 00:04:58:06UnknownSo I was ready to roll. But we all know like it's when you're a solo agent, you get out there and it's a rollercoaster. So I was in foreclosure twice. I dug myself out a couple of times. And just looking back on that time, it I, I may I was able to make six figures within two years, which I think for a single mom that's pretty good.00:04:59:01 - 00:05:20:10UnknownI had three kids at home screaming. I mean, take you take a phone call and you have people you have kids crying in the background, which in the beginning that stressed me out. I mean, I would hide in my master closet and then after time, I just let it roll because I mean, the kids would build trust. No one seemed to care.00:05:20:10 - 00:05:48:11UnknownMost of the families that I helped had kids, so they totally understood. So just moving. They became part of your brand too, though, right? Yeah. Without even, you know, that was something that I didn't even think about. I didn't know I needed a brand or anything, but I that is how I am known across the United States in the real estate coaching world.00:05:49:16 - 00:06:19:16UnknownAnd then, yeah, here at home, single mom and still single mom. So yeah. So getting through. Let me ask you a couple questions right here on this and just that, because I want us to resonate with some people. Things always just sort of work out. I believe and I believe that it's like, you know, if you're like animals, like if you're a cat, you're going to find a way to eat.00:06:20:08 - 00:06:42:18UnknownMm hmm. Dogs do the same thing. Mammals do this in natural like habitats. And when you're in and your back's against a wall and you have housing payments to make kids to feed, you know, all the above, like you're going to figure it out. But we can't do is just stay frozen. Exactly. And I so I'm super thankful for their I know there's a reason I went through all of that.00:06:43:06 - 00:07:09:20UnknownAnd I'm super, super thankful that I went through it. I don't know why it is beyond my understanding. I'm just really excited. You know, I, I know God has huge plans for me and I mean, not just with that situation. I just recently went through another one and I'm just just that much more ahead. And so let's unpack this really quick, because like in real estate, you have to like fall on your face.00:07:09:20 - 00:07:24:17UnknownIt's really the only time you ever learn. And I'm going to give you an example, and this might be some you guys listening every this happens every single age. I mean, doing this for so long, I could I could literally tell you this. So after that, 3 to 4 years, when you start making it might start making six figures.00:07:24:24 - 00:07:48:21UnknownYou're had get so fucking big, your ego floats up and you literally think you're shit don't stink. It is a disease. I've seen it with everybody. I literally don't know anyone who hasn't done it. And the same story happens. It's happened to me too. Your egos run in. You think you're walking on water, folks. We're just fucking real estate agents.00:07:48:21 - 00:08:25:05UnknownOkay. All right. At the end of the day, get over ourselves. The ego will kill your business. The ego is what brought me bankrupt. Thinking, not planning ahead, not working on business, thinking that I could always just figure it out. Did you have an ego? 2.0, I'm sure. I mean, I just I was going through files last night and I had taken a screenshot of my backend software with my brokerage, and I had all these like you had to scroll to go through all my deals and I was like, look, it was like, look where I'm at, you know, like I've got this figured out.00:08:25:11 - 00:08:49:22UnknownBut the thing is, it's like you have to a lot of people in that position become reactive. So winners are proactive like we that a lot of us should have planned on a market like this. I grew my business in this market and then I got, you know, got to sell it and it was easy. And then, bam, here we are again.00:08:50:06 - 00:09:17:01UnknownAnd and that wasn't the experience that I, I, I did experience. There was other things going on in my life, but I was not proactive. I, I was reactive since November. So let's unpack these things first. What did you know from 2016 to 17 to that you didn't know in 2019, but you only realize in hindsight, right? You probably didn't do a panel before.00:09:17:21 - 00:09:43:09UnknownOh, no. Okay, that's necessary. In my case, like when I got to San Diego, I was so bad with numbers. I just learned the piano in the last 18 to 24 months. That's when I really started making money like I had the fall to frickin learn the case here. So that's not a loss, though, at the same time, because you can't pay for that knowledge.00:09:43:09 - 00:10:13:14UnknownNo, that's a really good point. Pianos are I mean, there's other things that I'm sure I wish I would have known back then, but when you're just I mean, it was a shit show and just throwing wet noodles against the wall to see what would stick, you know? But when you do that, when you get your business and your bank accounts all set up and you get that PNL, which I finally just hired somebody to help me, which, by the way, she's been amazing.00:10:14:00 - 00:10:36:12UnknownBut you find that you are not making as much money as you think you are. And it really puts you you have to be put you have to be forced into that headspace. You guys have to know every number in your business. Every number. Like I know my number so well right now that I just know every moment, any business I'm involved, they know every dollar and know where it spent.00:10:36:12 - 00:10:47:11UnknownI know what my budget is. I know what my groceries cost. I know everything it is in this market. That's probably the number one thing that people and if you don't know, yeah, trust me, you're going to fall on your face and you're going to learn it. You're going to come out of it, though, learning it. And that's what it takes.00:10:48:21 - 00:11:18:19UnknownWhat about just looking at, you know, looking at just business generation, obtaining clients? What did you find when you didn't have any money to spend? Where did you put that effort? What did you do to generate it? What did you do to make that happen? Okay. So when I was new and I didn't realize it at the time, I was doing open houses, maybe events, and then so what?00:11:18:19 - 00:11:40:18UnknownIt wasn't necessarily the open houses that grew my bit. In fact, it was not the open houses. I remember one client that I got and he ended up being a repeat client, but isn't for as many open houses as I did. I don't know if I can say that it was worth it or not, but it was posting on social media about not my cute little graphics, but like, oh, here I am putting up signs.00:11:41:01 - 00:12:08:03UnknownOh, here I am. It's, you know, in Galveston, it's windy, it's about to have a hurricane. But I have this open house planned and just I well, I didn't realize at the time, but I was showing the real life of a real estate agent or, you know, of Sarah Cruz. So told me posting about like your your what is it the home snap award that like 99% of the real estate population gets that says like congratulations.00:12:08:03 - 00:12:22:10UnknownYou're like in the top 1% and everyone posts and they're like, oh my God, I post the award or they or maybe it's the just listed like or it just sold like, I hate that shit. It makes me a court, folks. You just have to tell your damn story. She's just hitting her database. So in other words, your business came from your relationships.00:12:23:01 - 00:12:53:01UnknownYes. Yes. And when you're doing that, which it's super important to reach out to your your sphere, because those are your warm relationships. But thank God for social media. And by the way, if that's ever ripped out from under us, but so many more agents, there's probably going to be about 2% of agents that are still in the business because they have an email list.00:12:53:01 - 00:13:13:23UnknownI think a lot of us rely way too much on social media, and I'm one of them still. And, you know, just doing all the things it it's you really have to leverage your time. And that's another thing I learned through this last one. I had lover. I paid for leverage and then I had to let all of it go and it's like I'm building back up.00:13:15:00 - 00:13:34:03UnknownWe'll take a quick a quick small second for a commercial break. If you've not heard about referral suite dot com, referral suite dot com. What that does it helps you market your database on social media through video email and automated through direct mail. It's the only place you need to nurture, grow, manage and stay in front of your damn relationships so they stop forgetting who the fuck you are.00:13:34:04 - 00:13:57:03UnknownAll right, let's go back to the regular episode because you're not marketing in your database. Someone is. That's right. And that damn software that I finally moved out here for this finally day, I'm ready and I'm launching it next week. Fuck, yeah. Boom. That's a ten year road. $600,000 down the drain. But I didn't quit. And neither will you in this market.00:13:58:04 - 00:14:17:22UnknownNo. Now, so let's get back into this, because you started making it. I saw you start like speaking and creating a lot of content. And yes, like guys get the business right in front of you, but if you're hiding in the closet, you're chasing a bunch of strangers. Like your business is just never going to take off. You're just going to get burnt out unless you're a fucking robot.00:14:17:22 - 00:14:38:01UnknownThere are some robots out there. And if you're a robot, congratulations. But the vast majority of us aren't. We have feelings. It's emotional, stressful. We can't cold call every day like this is the reality of it. A lot of us are salespeople. It's very rare to find a good salesperson. Now you're going through some else right now, and I don't know what you want to share about that.00:14:38:01 - 00:14:56:07UnknownYou don't share any of it. However, you're going through another season like you this is only two years. You thought you were probably you were like, Oh, fuck, I got it made and then I'll send it crash again. Yeah, well, I which I know you know a lot about this, but I went, I slid right into a deep depression.00:14:56:07 - 00:15:23:06UnknownAnd it wasn't because of the market, it was just things that were I was burnt out. I was really burnt out because it's I one of the things that I pride myself on, oh, maybe I shouldn't say that, but a lot of my clients use me because I'm so responsive and I think I just wore myself out and, you know, still three boys.00:15:23:06 - 00:15:53:11UnknownI try I run my ass off for them and I like I try to make it to where it doesn't feel like a one parent household because it's not their fault that their parents are stupid and had a failed relationship. So all three play sports. I'm constantly driving them around. I pay for everything my ex-husband does. I don't even care about throwing him under the bus anymore.00:15:54:00 - 00:16:22:05UnknownHe does not hold his weight. He is not a good dad. He has no respect for women. So he has no respect for me. I think there's one woman in this world that he has respect for, and that's his aunt and that's it, not even his mom. So he I do everything on my own and running a business, you know, I yes, I do make great money.00:16:22:05 - 00:16:41:10UnknownIt just got to the point where I just I got tired and I just but here's what I learned from all of that. And that was months and months of just let's go through that. I remember days that like I literally like full disclosure and I left Chicago. I was like, I can't get the fuck out of here.00:16:41:10 - 00:17:02:00UnknownI can't even look at a granite countertop anymore. Like, I swear to God, if I hear the word fucking stainless steel appliance upgrades GFCI outlets, I'm going to fucking throw up. Yeah, because like, it's so emotional like the $10 people are fighting over. It got to the point where people are fighting over like a what is $1,000 on a home inspection item and I'm making like 15 grand.00:17:02:00 - 00:17:19:09UnknownI'm like, I'll fucking pay it. I don't give a shit, shut the fuck up. Like, I don't care. Like just get out of here. Like, stop fighting. Yeah, honestly, I personally kind of I'm like, but I love the marketing side of the business. I love the Legionary side. That's why I moved. But if you guys feel that way right now, that's real shit.00:17:19:09 - 00:17:40:14UnknownLike, I think it happens, everybody. And I just don't think anyone talks about it because you could get just burnt out in this business, you know, over everyone. How many clients have you shown it and show them 80 houses and in a buy anything or how many times have you logged on and found out one of your friends fucking hired your other friend or you know, the stuff gets it's like a dagger go through your heart.00:17:41:12 - 00:18:09:02UnknownYeah. I mean I, my own views on that. I just I'm normally, I'm just like, well, what, what did I for some reason they didn't use me and whether somebody else could have built that trust. So they liked somebody more than me. And it doesn't I don't want it hurt my feelings and that's that's a huge thing in the real estate world is don't get if your mom doesn't use you you should ask yourself why.00:18:09:02 - 00:18:36:12UnknownBut it's like if you have to look in the mirror, well, yeah, that's their job to remember what you do. It's your job to remind them. That is exactly right. And there's, you know, if if there's a lot more short sales and a lot more foreclosures, you can bet your like, you need to be like getting cold business because those people aren't going to be using their friends like they're in a financial dilemma.00:18:36:21 - 00:19:05:23UnknownSo giving me a little bit of a preview of where we're headed, I don't really I don't know. I in my area, the markets always good. It was really good obviously during COVID, but I don't I so after Hurricane Harvey I thought that was it was like my business is done. I just I had only been in business for like two years and I was building up and I'm like, Well, there we go.00:19:06:09 - 00:19:33:06UnknownAnd it just like it took off. So, I don't know, I think if you acclimate to the market because now we have a ton of flooded homes and we are super saturated with investors and that's actually that specific part of investing is not my niche, but like my investors buy you construction, but you just have to acclimate to the market, whatever.00:19:33:06 - 00:20:00:09UnknownYou have to be proactive and just not reactive, just be proactive, acclimate to the market, learn whatever is coming our way. And so I don't know. I don't think our market's going to be bad, not here in Houston. I'm curious about what's going to happen in San Diego because I don't know, like no one in their right mind is going to buy a house at a 7% interest rate at like 1.5 million when you can rent the same house for a third less.00:20:00:23 - 00:20:29:23UnknownYeah, that's the problem I see in this market, but it's so different. A lot of people are living here too. They're not like excited about like the future of California. So barely. But we have a lot of y'all come in here. Yeah, I know. We're keeping you damn busy. All right, so where do we take this? Like, I think there's a lot here, because the second thing that you're you're coming through now is what you you keep you don't stop.00:20:29:24 - 00:20:51:22UnknownYou keep going out there. And then I believe that opportunities as long as you're really loud. So I like content creation so much as that. We have a client that is running for fucking mayor because he's on video like it's crazy. And the amount of brand you could just build doing it consistently never fails. But there's always the real win in it isn't the amount of clients you get, it's the other opportunities that come your way.00:20:52:10 - 00:21:16:03UnknownAnd I think if people just because it just creates more conversations when you're just putting yourself out there and these different conversations leave different opportunities and I'm sure I don't we haven't talked since, but I'm guessing that these little opportunities that have happened your way, you have a course that you created, you have a another business. You're running and running on a leadership level.00:21:16:10 - 00:21:42:20UnknownBut those didn't just come to you because you were sitting in the closet, not doing anything, not hustling. They're doing it as a result of those. But none of that has a deal with a direct client for real estate, does it? No. And it's actually so during this most recent rough patch that was my therapy is I just would get on my computer and I would just write and I would shoot video for my course.00:21:43:14 - 00:22:08:07UnknownBut yeah, so back and I'm back. When you were making my videos, it wasn't even I didn't even have to run ads. I mean, I would just post it and the organic reach my business just like took off that's and I, I'm shooting myself in the foot because I don't do as much videos I need to be doing.00:22:08:24 - 00:22:32:17UnknownBut I just wanted to throw that out there because you're probably going to need it. Yeah. Like you need to open houses. You don't need to do events, you just need to be on video, on social media. You don't even have to run ads behind it. Now, I didn't have to be good to. Kristen was coaching and she's all about like rich ads and everything.00:22:33:02 - 00:23:00:01UnknownBut if you don't have the money to start that you just you you can just use that organic reach. But yeah, back on these life events, just going through this last one, the biggest thing that I learned and, and this has nothing to do with real estate, but I know like everybody goes through this is when you are I got I got to the point where I was super upset with my ex-husband.00:23:01:19 - 00:23:35:19UnknownAnd we have this cycle of abundance like it's like this ongoing. Like we just we all the cycle of abundance you give, you receive. And when you are hung up on something that completely stops. And I let that control my mental peace and in turn that like my business came to a complete halt. And I every day, like, like the resentment, like you were so pissed off about this thing that you couldn't move forward.00:23:36:06 - 00:24:06:16UnknownSo right now, my oldest is in Cooperstown, New York, for a tournament that I busted my ass to get them to me and the other parents. We were fundraising like crazy I every it's my blood sweat and tears I pay for his baseball every month. I take them to practice. I take them to games. I fundraised. I bought his plane ticket.00:24:06:18 - 00:24:40:08UnknownHis new client studies wearing like everything and my ex-husband doesn't pay child support. Didn't help at all. Doesn't help. And guess who's at the tournament right now watching my son. And I'm here at home because I couldn't go. And I have been so stuck on that. And it like every day I have to work on forgiveness and letting it go so that the rest of my life can run at the speed that I want.00:24:40:08 - 00:25:21:05UnknownAnd it's not completely all his fault. Like when I'm producing, none of this matters. None of this matters. I'm like, You know what? You're hurting yourself. Because I get to see the boy's little quirks. I get to see them grow. I get I that's my gift. And he doesn't get that. But he's looking like super dad right now and Cooperstown am and did absolutely zero to get his son there but I guarantee he had his travel plans all paid for all made while the rest of us were bussing our house to get our kids to Cooperstown.00:25:21:14 - 00:25:52:24UnknownSo like I it if anyone knows it's me. Like, I feel that pain and I on a daily basis have to forgive him or I just. I'm going to live in this turmoil and I'm not going to make any money. My business is not going to run and I need it to. I mean, worst enemy. Yes. Yes. It's crazy what our minds do.00:25:52:24 - 00:26:31:23UnknownIt's there's so elaborate. And you have to learn to control and have peace. Mm hmm. How much how much do you rely? And then I'm assuming this is where faith comes in for you. I want you to rely back on. Yes. Yeah. And I. And I know. And back in 2015, 20, 16,017, when I was 13, when I was Laina Wake at 3:00 wondering how I'm going to, you know, pay the electricity bill or whatnot.00:26:31:23 - 00:27:03:00UnknownI was always I made sure that I was always thanking God for what I did have. I did have a roof over my head. I owned my home. So I didn't I didn't have to worry about getting evicted. In fact, like I totally I used like I knew the bank wasn't going to come after me and I had a good six months, but I would dig myself out like every three months and then I would go on that roller coaster again.00:27:03:00 - 00:27:25:14UnknownI was brutal. Yeah, but I. I swear, like, the last six months have been even worse than what I went through back then. And I'm. And that's what a lot of people I think are happening right now. But tell them and, you know, you're not out of it yet. No, no. I have to build my business back up.00:27:26:05 - 00:27:49:23UnknownBut my bit and and just to be super authentic and transparent. Yes, I had things set up. I had my pal whatever. But I, I had to go through what I went through for a reason. And now ramping back up, it is just so much more organized like I know what to do now and know putting those steps in place.00:27:49:23 - 00:28:15:03UnknownAnd I, I, I'm super excited to see what God has in plan land for me because just everything that I've been going through and experiencing, like it's just that much better just coming out and you realize too, your real friends are too okay. You get to see who the fake people are, who the real people are, who really has your back.00:28:15:10 - 00:28:30:04UnknownMy dad told me I was younger. If you have two friends in your life, you actually had a good life. And I used to say, look at thousands of friends and hundreds of friends, like I'm the most popular kid in college. What do you mean? And he was right. I'm like, you know, because once, you know, money goes away.00:28:30:04 - 00:28:52:02UnknownAnd then I went from to be okay, pretty much everyone left with it. And then also and you see who's around. But yeah, most people today are all talk. I can tell you firsthand, a lot of people you listen to, I'll talk, bitch, you know, just the way it is. But I think the point here is, is that life isn't always what it seems to be.00:28:52:02 - 00:29:09:20UnknownAnd this isn't meant to doom and gloom, but motivate for you guys listening to this, because you guys are a lot of you going through this shit right now in my life, I relied back on my own faith, same way it was like for maybe just four years ago. And I remember as Christmas and I only had like $300 in my checking account.00:29:10:09 - 00:29:30:21UnknownAnd it was I think I was like the 23rd of December. And I bought $300 worth of gifts at Tuesday morning. And that's the name of the store for Chris for Christmas. But I still had presents and I'm like, All right, what am I going to do for dinner the next day? And like and who knows? Like, money just showed up and I stopped worrying about my monthlies and whatnot.00:29:30:21 - 00:29:51:00UnknownI actually started tithing. It wasn't until I started tithing that business started growing, oddly enough. So I encourage you guys, I'm not trying to preach the word to you because that's I could just tell you about it. And it's up to you to take that and accept that into your life. But if what I just said resonated or what Sara just said resonated, then give it a shot.00:29:51:00 - 00:30:12:18UnknownBecause what do you got to lose at the same time? And I think if you could find peace through strength and just do it inner what happens is that like magical it's just what happens with everyone who tries it. So I would encourage you to take a look at faith if you haven't yet. Anything went Oh, I mean a ton.00:30:12:18 - 00:30:39:05UnknownI mean I just going through those things and I just tell you, I'm one of my best friends. The other day, like I I've been very lazy about taking my boys to church, but we, they know who Jesus is. They know who God is. But the fact that I was raised on Christian values have helped me tremendously. Has I?00:30:39:05 - 00:31:04:07UnknownIt that event brought me so much closer to God and I had to one day I remember so clearly. I just had I had to I just threw my hands up and I just gave it all to God. I was just I can't do it on my own. I was trying to control everything. I was trying to control the Cooperstown situation and my ex-husband and myself.00:31:04:13 - 00:31:30:12UnknownAnd I just I finally had to just throw my hands up and I just I was not forced, but I just was constantly talking to God. And I this is the whole story. But I would hate for my clients to know. But whatever, once that happens and this was just last month, once that happened, an acquaintance called me.00:31:30:13 - 00:32:00:14UnknownHer house was had been on the market for six months in my neighborhood. And if your your house is on sale on the market six months later in my neighborhood, our house fly off the market. Something's wrong. And I their listing expired. I took over immediately. I sold that house within 2 hours of it being listed on the MLS for almost as much as it had been listed for before.00:32:01:01 - 00:32:23:23UnknownAnd it was all cash and like I had money in my account within two weeks and that was like I, I was wondering how I was going to be paying my mortgage in June. That's how bad my business and like I listen to all the gurus, I had six months of reserve in my bank account and that's that's how long I had been going through that fund.00:32:23:23 - 00:32:48:23UnknownAnd I was running out of money. And as soon as I just let it go and gave it to God, like, boom, now it's like life. And every single day something happens to where like the, the brokerage I just joined and partnered with. We have four divisions coming up. We started a leasing division because of my leasing course that took off and is going great.00:32:49:02 - 00:33:05:21UnknownWe're building a team and then one of my best friends calls and says, I want to just sit in front of my computer and come to my. And I was like, awesome, because that's like it that we've needed that we, there's investors that need somebody to do that and we can make a lot of money off of that.00:33:05:21 - 00:33:31:17UnknownSo and then we're starting a home swap division where it's where we are going to be. The experts on estimable rates. You don't want to sell your house because you don't want to get in a higher rate. Well, here's somebody else that needs the same thing. Home swap. So it's just I mean, business is awesome now and I just had to let go and forgive, let go, let God.00:33:31:17 - 00:33:51:09UnknownAnd so I'm a huge yeah just for a lot give it all up here. I was like Mike and Darren covered like I'm like, why don't you want to wear a mask? I'm like, because if Scott thinks I'm going to die, I would go, but I'm going to get it. No matter whether or not I have a fucking mask on or not, I don't give a fuck about no stupid, you know, COVID, whatever.00:33:51:09 - 00:34:09:03UnknownLike, even if the people were turning into zombies, I'd say when my time to go, my time to go. But I'm not going to stop doing what I'm doing today because of what someone else says. And that's what faith over fear is, folks. So great episode, folks. This is, you know, to really do like these motivational type things, but it just felt we should.00:34:09:23 - 00:34:30:17UnknownI think we did a good job. I thought it was good show. Any closing thoughts once you talk about your leasing course that you mentioned, now that we do have a business side, let's see if we can help sell some of your courses. Why don't you tell them how they could get involved in that? Folks, what you just said was for different, unique selling propositions, adapting to the current market conditions.00:34:31:19 - 00:34:54:14UnknownAnd you have to people are still going to be moving. You have to be a problem solver for those who are. So you have to shift and you have to shift the way you market your business. You have to shift the way you generate business because yes, she's right. The truth is that people who are safe right now aren't going to move as likely because they can't replace the same house they're living in with today's rates at the same price, they're paying for it.00:34:54:19 - 00:35:16:08UnknownAnd that's one of the biggest problems. Hence this home swap creation she's come up with. She's solving a problem. And anytime you could be a problem solver on your business, regardless of market conditions is going to happen. I'm going hard into distressed. I'm focusing on high debt, bankruptcy, foreclosure, short sale, 60, 90 day lates because those are the transactions that are going to happen right.00:35:16:08 - 00:35:41:21UnknownThat's what happens in a shift. So buy your course and tell me about that and let's get this show wrap so you guys can get back to your day. Yeah, the main course, the core offer is how to be a six figure agent and it's not it's not business coaching. It is like the art of how to get business.00:35:43:14 - 00:36:11:16UnknownAnd then what I'm an expert at Lisa, is because I have a lot of investors, we buy, buy and holds and I turn around and I list and for lease I get tenants and I'm sorry my dog was not supposed to be in my room and so I did a leasing course. So if you need money right away, if you're an agent and you're struggling and you need money, this is a course that teaches you how to make immediate money.00:36:12:05 - 00:36:45:17UnknownAnd while you're building your business and honestly, like I put lead gen stuff in my leasing course, which you can totally use for buyers and sellers. So and it's much cheaper where do I get it? And well, I can send you the link I have, but I don't even know my link tree link. But if you go on link tree and you search Sarah Kors S.A. RH C r us e it will take you to there that up program.00:36:46:19 - 00:37:11:21UnknownSarah Cruz Keep crushing it and don't stop folks listen to this a couple times. Do you? I know a lot of you. I feel exactly what we were talking about. I just know it and take notes and just sit back. Zero in. Don't run around like a chicken. That's what happens. You know, you're that animal trying to get out of the hole that you got stuck in and you can't really sit back and think of an intelligent way to get out of a hole.00:37:11:21 - 00:37:27:08UnknownYou just keep clawing at what's next and that's where these folks, that's when you start spinning wheels like a hamster wheel. You don't get out of it. So get the fuck out of it. It's up to you to do. And yes, you can do it because I guarantee you, chances are probably what me and her have gone through.00:37:28:02 - 00:37:46:02UnknownAnd I don't mean this in a negative way, but it's probably a lot worse than what you're probably going through right now yourself, because we've gone through some shit and a lot of it wasn't shared on this, but maybe it will get really, really deep on another episode if we get a good response on this one, I'll be happy to go really, really deep.00:37:46:10 - 00:38:03:16UnknownSo thanks for listening, guys. Check out our new software we just launched. It's called Referral Suite. AECOM is a component of suite assist. If you want to learn about that, it's called suite assist. Visit that W WW dot sweet assist dot com piece we'll see you next week. Thank you for watching. Another episode of the Real Estate Marketing Do podcast.00:38:03:16 - 00:38:24:11UnknownIf you need help with video or finding out what your brand is, visit our Web site at WW dot real estate marketing dude dot com. We make branding and video content creation simple and do everything for you. So if you have any additional questions, visit the site, download the training and then schedule time to speak with the dude and get you rolling in your local marketplace.00:38:24:15 - 00:38:41:06UnknownThanks for watching. Another episode of the podcast will see you next at.

Let's Ask Paul | Episode 122 | Multipole GFCI in Old Homes and EV Chargers on NM Cable.

ceo founders prep preparation quiz tests homes chargers cable exam electrical nec electricians ev chargers gfci national electrical code paul abernathy

Play Episode Listen Later Mar 26, 2023 23:32

Listen as Paul Abernathy, CEO, and Founder of Electrical Code Academy, Inc. the leading electrical educator in the country, as he answers more questions from the Let's Ask Paul Portal over at www.PaulAbernathy.com.In this episode, Paul will tackle the questions submitted by a listener. The topics covered in this episode include the use of GFCI's on multiwire branch circuits in older homes and how to pick the correct NM Cable for use with an EV Charger in a dwelling unit.If you are looking to learn more about the National Electrical Code, for electrical exam preparation, or to better your knowledge of the NEC then visits https://fasttraxsystem.com for all the electrical code training you will ever need by the leading electrical educator in the country with the best NEC learning program on the planet.

Let's Ask Paul | Episode 122 | Multipole GFCI in Old Homes and EV Chargers on NM Cable.

ELECTRICIAN LIVE- PODCAST

Play Episode Listen Later Mar 26, 2023 23:32

Listen as Paul Abernathy, CEO, and Founder of Electrical Code Academy, Inc. the leading electrical educator in the country, as he answers more questions from the Let's Ask Paul Portal over at www.PaulAbernathy.com.In this episode, Paul will tackle the questions submitted by a listener. The topics covered in this episode include the use of GFCI's on multiwire branch circuits in older homes and how to pick the correct NM Cable for use with an EV Charger in a dwelling unit.If you are looking to learn more about the National Electrical Code, for electrical exam preparation, or to better your knowledge of the NEC then visits https://fasttraxsystem.com for all the electrical code training you will ever need by the leading electrical educator in the country with the best NEC learning program on the planet.

ceo founders code homes compliance chargers cable electrical licensing installation nec electricians nfpa ev chargers gfci national electrical code paul abernathy

Let's Ask Paul | Episode 122 | Multipole GFCI in Old Homes and EV Chargers on NM Cable.

Play Episode Listen Later Mar 26, 2023 23:32

Listen as Paul Abernathy, CEO, and Founder of Electrical Code Academy, Inc. the leading electrical educator in the country, as he answers more questions from the Let's Ask Paul Portal over at www.PaulAbernathy.com.In this episode, Paul will tackle the questions submitted by a listener. The topics covered in this episode include the use of GFCIs on multiwire branch circuits in older homes and how to pick the correct NM Cable for use with an EV Charger in a dwelling unit.If you are looking to learn more about the National Electrical Code, for electrical exam preparation, or to better your knowledge of the NEC then visits https://fasttraxsystem.com for all the electrical code training you will ever need by the leading electrical educator in the country with the best NEC learning program on the planet.

ceo founders code prep homes chargers cable exam electrical licensing nec electricians ev chargers gfci national electrical code paul abernathy gfcis

How to Buy and Sell Real Estate, Tax Free

Play Episode Listen Later Jan 28, 2023 29:21

In today's market, we should all seek to be investor friendly, especially as agents. We are looking at how investing is a great way to accumulate tax free real estate.Mat has been at the forefront of the Self-Directed IRA industry since 2006. He's CEO of Directed IRA, a partner at KKOS Lawyers, a national speaker, a top-ranked podcast host, a best-selling author, and a self-directed retirement investor. Mat is a VIP Contributor at Entrepreneur and is an expert author at Cryptopedia.Three Things You'll Learn in This EpisodeThe benefits of real estate investing.What is the best way to make your money earn money?How to avoid taxes on real estate investing.ResourceCheck Out Mat's WebsiteReal Estate Marketing DudeThe Listing Advocate (Earn more listings!)REMD on YouTubeREMD on InstagramTranscript:So how do you track new business, you constantly don't have to chase it. Hi, I'm Mike Cuevas to real estate marketing. And this podcast is all about building a strong personal brand people have come to know, like trust and most importantly, refer. But remember, it is not their job to remember what you do for a living. It's your job to remind them. Let's get startedWhat's up ladies and gentlemen, welcome another episode of the real estate marketing dude, podcast, market shifted, folks, we're gonna talk about something not so much on marketing today. I mean, I guess it can be, but more so on skill sets, something very important, I believe is gonna be coming up into the market. And although interest rates went down to 5%, I still don't think we're at the end of this thing. Yeah, do you guys, I'm almost positive, I could tell you that, but I can't predict the future. I've seen a couple shifts in my age. But what one of the skills I'm getting out is, whatever you're gonna decide to do, you need to become investor friendly. If the only types of transactions you guys are creating are just residential buy, sell and moves, you're gonna be missing a major opportunity in the upcoming market. Because the reality is, is that the real estate industry has a large shortage of investor friendly agents. Most agents aren't even know what the fuck we're talking about right here when we start talking about this. And if I didn't personally know someone who taught me all this stuff, like five or six years ago, I would be completely lost. But how cool would it be? If you were able to teach your clients, all people, anyone you knew how to buy tax free real estate, and not pay any taxes on it at all? Because that's basically what self directed IRA investing is. I'm gonna tee up and I don't know what Matt here is gonna talk about. We just met like, what how long goes like two minutes ago? Yeah, I'm great, though. I'm gonna dumb this down for everybody. Okay, and just break this down in human language. So I know Matt's an attorney and get into these big terms and stuff. So I'm gonna put them in real estate terms. We call them layman's. Alright, so all this says you can build you can install certain amount of money into a Roth. And after that Roth is season season, he'll define what season means you can literally treat it like a bank account that doesn't get taxed. Is that a fair statement? Yeah, the number one way to make money in the US tax free and not go to prison. The number one thing people are gonna be looking for is an agent that understands this type of skill set one of them all the investors skill sets. And even the rookie investors, this is how you pull them in once you know more than what they do. Great. That's the whole point of having a fucking license to begin with, and having a job you guys. So without further ado, we're gonna go ahead and introduce our guests as an expert here at the top book on self directed investing and IRAs. And you want to take notes on this episode, because you don't get hired for what the hell you do you get hired for how you do it. Matt, why don't you go ahead and introduce yourself to the listeners here who may not know you yet? Why don't you say hello and tell them a little bit about what you do. And I got a bunch of questions for you. Yeah, love it. Thanks for having me. I love this topic. I'm Matt Sorenson. I'm an attorney wrote the number one book the self directed IRA handbook. In the field, I self direct my own retirement account, my IRA and 401 K's into real estate. I've been doing this since 2006, for clients, and I'll give you an example of my first client I did this with that was the whole reason I got into this space and specialized in it. But I have a Ira company where a trust company called directed IRA, we have over a billion assets primarily invested in real estate. So you know, every day we're opening 3040 new accounts, the majority of which are buying real estate, there's $30 trillion in the US in retirement accounts. $30 trillion. So for anyone listening, like, I don't care if you have zero money in retirement accounts, and you're like, This isn't for me, I don't have $1 in an IRA or 401k. Yeah, but everyone else does your potential clients do other people that can fund deals for you do? And then for those either in the real estate space, wouldn't it be nice if you could invest tax deferred, or tax free dollars like IRA and 401, K's into something you actually know, like real estate instead of buying a stock bond or mutual fund. So it's a huge topic, huge topic. It's where all the money's at so. So everybody's got to know this.Exactly right, dude. So here's what I want to start with. Because I'm gonna I'm gonna ask you questions based upon what I'm pretty positive. A lot of the agents don't know, just so they understand how this process works. Alright, so forgive me if I asked you. So first first question I have on this isyou just sort of said it. Why is it important for real estate agents and lenders to know about what a self directed IRA is? Why the hell do I need to know that? Yeah, well, if you have your own retirement account, wouldn't it be nice to invest it in what you know? I mean, if you're in the real estate space, you have a competitive advantage to see deals and opportunities. You know, I used to teach classes to the Realtors Association all the time. I'd ask people howMany of you have an IRA or 401k, like two thirds of the room, raise your raise, how many of your IRA or 401, k's are invested in, in mutual funds, as you know that same groups hands still up? How many of you know a good mutual fund that you're excited to buy and you think is going to make you money? Everyone puts their hand down? Like how many of you know a real estate deal? You think you can make money on? The frickin whole classroom goes up, let alone people don't even have an IRA or 401 K, I'm like, why are you not investing in what you know? Like, you're like LeBron James, playing ping pong go dominate what you're good at, like, you're gonna get better return. So if you're in the real estate space, this is you actually have a huge advantage over everyone else to make money in these specialty accounts. And when we say there's a self directed IRA, and there's an IRA, and correct me if I'm wrong, but an IRA is like when you get a financial planner, like, Hey, do give me like, 10% of your money, and I need to go invest it. And then these guys go out there, and then they put it in some kind of computer algorithm or whatnot, and they're trading all these stocks, you get statements for it, no one knows what the fuck they may or say, or when your expenses were made. You don't know it. But you know, I've a lot of financial planner, friends, but self is like you control your own investments. That's the difference, right? You could invest into like a financial planner and have like a, what's it called, like, creating a mutual account? I guess, is that the word?But or you could control your own destiny by investing that self RA into hard assets? You can buy gold with them, can you silver, you could you can lend that money as a lending source. So I could lend someone 10 grand and charge them 12 and get back to 20% interest. You know, you could do whatever you want you direct the investments. Right? Yeah, I think the easiest way is self directed IRA is basically an IRA that can invest in any asset allowed by law. So like, there's 30 companies that do what we do. We're the best directed IRA, you don't need to know anyone else. And look us up, you know, check our reviews versus our competitors and our fees and everything. I don't think anybody's even close to us. But if you let's say you have an IRA at Fidelity or TD Ameritrade and you call it fidelity or TD Ameritrade you say, hey, I want to buy real estate with my IRA. They're gonna be like, you can't do it. And it's not because IRAs can't do it. It's because fidelity IRAs and TD Ameritrade, IRAs can't do it like their broker dealers, they let you buy what they sell, they don't sell real estate, they're gonna let make you click a button to buy something they sell, which is stocks, bonds and mutual funds. So you have to just move that account. So if you're at fidelity, and you have a Roth IRA, they're buying stocks or mutual funds, and you got 100 grandson over there, and you're like, Oh, I'd rather put this 100 grand on a real estate deal. I want to be a private money lender to somebody doing a flip whatever the case may be. We just transfer that 100 grand from Fidelity over to your Roth IRA directed, which is self directed and will let you do real estate. I mean, other stuff. You mentioned precious metals, like gold and silver. Clients about crypto, I have clients on a Mexican soccer team with their IRA, racehorse sauce, avocado farms, like weird stuff. But these are people that are into that they know that space and they invest in what they know. That's a good point is like, I don't know anything about the stock market like nothing, zilch, zero, like I just don't, I wouldn't invest in it because of that, because I don't like not being in control.Okay, but getting started off isn't like when you're just starting. So let's just say I'm a real estate agent or lender, I'm somewhere around the home in Ohio.How does it how do I start, you could have an IRA and I could actually convert it into a self? And then once I have the self, like how much money can I contribute? If I don't have an IRA already, so you could you could convert an existing IRA, or you have to start from scratch if you don't have one yet walk me through that process. Okay, 80% of people who self direct and are going to do real estate with an IRA or 401 K, already have retirement account money, they got an old employer 401k, they've had for 10 or 20 years, and they're rolling that over, or they already got an IRA at TD Ameritrade or fidelity. And so for those ones, it's the easiest, because let's just take the money you have or the piece of it, you want to self direct, and you just do what's called a transfer a trustee to trustee transfer, you set up a self directed IRA with the self directed IRA custodian for my company's case, directed IRA, and then we go request that money from TD Ameritrade or fidelity. Now if you're zero, though, and you're like, I haven't seen anything, and this is common for real estate agents, yeah, you know, a lot. I've never had a yeah, get a 401 K, you know, I don't have the 401k that coming out of their paycheck. For any real estate agents, the best option is what's called a solo 401 K. This is basically a 401k, you get a set up for yourself. And it's actually an awesome plan because you can put $66,000 A year into this thing. It could be Roth or traditional or you could mix it up between Roth and traditionalsolar, okay. It's not to interrupt you, but say that the dollar amount I can invest because you can pick how much money you want to invest in IRA. There's rules put in each year. It right from one end, unless it's income from the investment, right. Exactly. Yeah. So like income from the investment is unlimited. Like you could be Peter Thiel, who has a $6 billion Roth IRA. You know, my largest client has a 300 million Roth IRAA. And you know, there's no cap on how much you can make in these accounts. But there is a cap on how much you get to put in each year, that's kind of your investment capital, you can only put in so much every year. And in the IRA space at 6500 bucks, this is the new number for 2023. It used to be 6000 for many years, but starting now in 2023, you can put 6500 bucks in an IRA. Well, if I'm a real estate agent, I mean, I got some you can do a 6500 bucks, I'll give you some examples of clients that have hit homeruns with that. But if you're like, Well, I want to buy a rental property or I want to do something else, well do the solo 401 K, because you can put $66,000 a year in this. It's basically a 401k plan for someone self employed with no other employees. And so that's a very popular option, then new real estate clients is that a consumer option, probably about 12 years ago is when it came around. Yeah, sometimes called an individual K or individual, individual 401k. And that's 60. You guys, you guys, this is tax, this is you write this off to Yeah, if you want to do traditional. So remember, like in the retirement space, you got traditional dollars, where I'm getting a write off today, if I put 66 grand in it, I get a $66,000 tax deduction on my tax return. If I max it out. Now, the rules on how you contribute, you'd have to have made about 180 grand approximately, to max out and do 66 grand, but as long as you did, that's a 66,000 Our tax section, or you could be like, I don't care about tax deductions. Now. I'd rather have a Roth account, where I put that 66 grand in no tax deduction, but this thing grows and comes out tax free in retirement. Because remember, when you do a traditional IRA or 401 K, you get a tax deduction when you put the money in which you love. Now, later in retirement, when you start drawing on it, you're paying taxes on the way out, you got to pick which one you want. And there's debates on which one's better. And I would, I would guess, the majority of realtors are gonna go to solo route just because it most people don't, they don't already have an established investment most times set up. But I speak into real estate professionals, nine times out of 10 That's what you should be doing. I just focused on the solo form. Okay, I got a whole chapter in my book. We have webinars and podcasts on our website, just specific to the soul. Okay.I like the idea of just because, you know, the here's how I see that I see this as a marketing thing I see is from an agent's perspective, that is, I see it as a positioning thing, and all of that because I know you guys are probably talking to the number one guy right here that knows about what's coming up in the real estate market because he's got the smartest money in the fucking world. And he's investing with it. So all his clients, I'm sure informing you, you're probably a real estate geek to my guess.What's what's what's gonna, the reason why I see this as tell me if you think I'm right or wrong. But the reason I see this for you guys of making this such a advantage is because people are going to be looking to invest when the market shifts, and they already are starting to just people are too scared to buy in the beginning of a shift. That's like the dumbest investing move ever. You wait till we hit bottom of that shift, and then people gonna start buying. But if you get out of that ahead right now, you know, agents and lenders always have homebuyer seminars, I'd have home investor seminars, like most of the investors don't know how this is the day you show me how to make money and save money and screw over the government is the day you have my business. Yeah, right. Because that's a win win. Really, right? Yeah, IRS gets nothing. We get to keep it all. So, you know, I thinkthis like, this is a tool, right? These retirement accounts, which think of it in many different ways on how you can access it. One is, if you're doing deals yourself, and I have lots of real estate clients that are they're in the business of real estate every year, whether they're a broker or a developer, contractor, whatever. Like they see stuff like they're just out there to see things. But the retirement accounts like this tool, and sometimes your mentality can be I'm use other people's retirement accounts to fund my deals. I had I did a podcast, or sorry, a webinar about a month ago with one of my clients. He did 250 flips here in Phoenix. 60% of his money came from IRAs and 401 K's like the majority of the funding on his flips, which was this is purchase money and rehab was from retirement accounts. And that's just because he knows the strategy. I had another client a real estate fundthat never raised from retirement accounts. Well, we did a webinar to their investor group. And we basically taught them how you can use your retirement account to invest into their next real estate fund. We opened over 300 accounts in two months for those people investing into that font there. Like we didn't even have to go to new people. We just talked to the existing people we already knew. And if you're a real estate professional, how many clients do you already have that you've done so far? That never knew they could buy real estate with an IRA or 401k They've already used you for business before just talk to them you don't need a new client. Just think of how they can use this money to buy real estate which is what most people love and trust over mutual funds in the stock market. Sois it safe opportunity in this? Is it safe to say like, Look,you create a buyer's list guys no differently thanA wholesaler would or an investor would. And that buyers list is, you know, the what's great about these markets that are coming, everyone's so scared.This is when you take advantage, this is when things shift. This is when you get positioning, market share, and all the above because in a shift like this, the best client is the one who doesn't give a shit about the GFCI outlets are the light bulb not working, or the toilet fucking ring, whatever. It's annoying if you want to deal with $15 GFCI outlets and go ahead. But the difference is, is that the investor will buy multiple properties per year, whereas the client you sold the house to you're gonna have to wait another six to nine years until they frickin need to sell that. So you're looking at leverage if you're looking at smart business, you guys at the end of the day, plus there's no emotion involved. I would assume that most people that have a Roth IRA just jump on a deal with one pops up. Yeah, yeah, they jump on a deal. And some people like investing in different things. You know, like, like me, I buy more long term buy and hold stuff. Rental and I do some private money lending. I'll tell you one client I had this was what made me decide to specialize in this field period, I was helping some clients buy real estate. But I had a client that had a Roth IRA with about 10,000 bucks in it, he was a real estate developer. And there was a piece of land, he wanted to get an option on. And he knew that this land, what was going to happen was the state and the city were going to put a freeway exit in, they already planned it in the next three years. And so he knew that this property is going to go from agricultural to like freeway commercial. What he did is he went to the landowner that had land right next to it, there was how to for agricultural use, he put an option on the property from his Roth IRA. So what is his Roth IRA did is he opened up the Roth IRA, he transferred money from wherever the brokerage Roth account IRA, he had before moved into his self directed Roth IRA, and then his Roth IRA paid 5000 bucks for the rights to purchase this property in a five year window. Now, at the time, the agricultural property is worth like 350. So my client offered the guy 450 grand, he said, Now you gotta give me five years to buy it. And if I don't, you keep my 5000 bucks. But if I do, I get to buy at the 450 price. Well, freeway exit comes in this property is now worth over over one and a half million dollars. And he sells the option for over a million dollar profit. Now this was this client, I just remember this like, vividly because he, I saw it through to the close a few years later, and this million bucks going back to his Roth IRA off a $5,000 investment. Nuts, he was pissed off, this client was pissed off, because he's like, You know what, I had the big law firm, the Big Four CPA firm, the financial advisor, they all knew I frickin know how to make money in real estate, they see my tax returns, they talk to me, that's where all my money comes from. And no one told me I could use a Roth IRA and pay zero tax on it. Like, he's like, this is an amazing tool. And he's got a 10 million plus account now with us. But like, that's a good example of, you know, just someone who's, you know, if your audience here's like real estate people in the real estate space every day, just using this tool to keep more of what he made, because like, you know, my client would have paid a lot of taxes on now he, you know, the IRS and the state would have got a pretty hefty check for the profits on that. You gotta keep it all. That's awesome. Okay, so let's keep moving on to this piece. Yeah. Sotell me about when when can I withdraw? Is there still seasoning rule on this? Are you can you invest? When can you actually withdrawmoney out of these accounts. So the general rule of thumb is, these are, this is long term wealth building. So until you hit 59 and a half, you're not pulling money out. So if you're a real estate, I'm not saying and you're 40 years old, I'm not saying do everything in this account. But for your long term wealth building in the most tax efficient way, be buying real estate with your retirement account, still be doing stuff personally. But there is a long term wealth aspect to it, you got to think about now on the other hand, you know, as I gave the example of my client that flipped 250 Plus houses, you know, he was doing that personally, like, this is just his S corporation, buying and flipping houses, that other people's IRAs were funding the deal. So to him, this topic is super powerful, not for his own account, but just so we can make money today, he's just using other people's money that happens to be in retirement accounts. Because those people you know, if you think about like the people, you know, that are going to cut a deal to invest 100,000 Plus, it's most likely it's not in a savings account or investment account, they're more likely to have this in an old IRA or 401 K account sitting around that they're bored with that they're dying to invest in something that could give them a 10% return, you know, like as a hard money lender, so.So I every is a little different on how they approach it. But this is long term wealth that we're talking about using your own account.So you might totally make fun of me for this. But the only reason I know about Ross is because I had one I had it seasoned and I almost went bankrupt. And I had to cash it out. Like I just fell on my face. I went from, you know, hero to zero in a 18 month timeframe. Just likeGot six, seven years ago. So the reason I just look back at it was season nearly had like 20 $25,000 in there. So I'm I did a couple investments out of it, and that worked out well. Butyour parents could open up a Roth for them, you could help them invest. But just know that if you open up your own Roth, you can't touch that money until you're 59 and a half, right? Yep. Yeah, you can keep investing out of it free and treat it like a person. It's like a little like your little bank, when you you could only put so much in there. But once you have enough in there, I mean, dude, you could really, you could really build some wealth on it. It's like, it's crazy. Yeah, I mean, the nice thing is, it doesn't hit your 1040. Like, it's not showing up on your personal tax return, even if you're selling properties and getting gain or rental income, right. It's all just growing outside of anything you're sending to the IRS or your state. So, so it is different. The other thing people got to know though there are some called prohibited transactions. So like if you're buying real estate with your own retirement account, you're not staying at that property like this is not for personal use or benefit. This is held for investment purposes. Couple also can't like work on it. If it's a flipper or rehab type project, you can't go do the work on it, you got to hire third parties, and the retirement account pays it. They pay them. And they obviously you're getting the money on the income from whether it's rent or on the sell the property. Yeah, I remember taking me a little bit of time to understand it. But ultimately, like the way this helps you guys understand it is like you invest into this different business, that different business investing on your behalf at your direction. And you're just rolls around, you only put in so much. I did not know about the solo one. Yeah, I always. I didn't know about that at all. Like that's a huge deal, because I always thought it was six 6000 a year. And it was hard to build that kitty up to make some, you know, valuable investments. Yeah, yeah, it took me three years, like, you know, I knew everything about self directing, even before I started dumping money into my own retirement accounts. But it took me three years using a 401k strategy, because you can do more, you know, and I also self direct my Roth, but that, you know, sometimes it might take you five years to do a deal. Now, again, I have a client like the one I told you that can see a deal, like an option or a wholesale deal they can do for 5000 bucks. Yeah, like, that's not me, like I'm running two businesses and have 120 employees. I can't like, I don't have enough time to go in real estate. But if you're in the real estate space, and I have lots of clients, I was five or six grand you can wholesale a deal. Do you have a?Do you have a buyer's listthat I can shop on for you?Because that's really, really interesting.Other so we have Roth IRA, the solo, one Ra, and then which can be Roth or traditional? You can either one in there, and the solo. The solo the Solo is the 401k. Yeah, it's called a solo 401k. Just solo Okay, for sure. So what would be if you let's close with this? If you are, what's your advice, like to an agent right now? How do you position it? Why did they do it? Just give me afinal tip on it. I think for an agent, this is like the perfect person for a self directed IRA or solo 401k. And why you you should know this. One is you're going to need to save for retirement yourself. Like most agents do not have a 401k at a company like you need a retirement account in a long term plan. Well, this is the best thing out there because you can invest in real estate, the stuff that you know, but also this makes you a supervaluable person, because this is an information and a skill and something you bring to the table that your clients want. You know, and I have, you know, I've done a lot of seminars at different real estate brokerages over the years. Everybody's like blown away. And how did I not know this? Like, it's crazy. I'm in the real estate space. A lot of people just don't even know you could do this. Well, once you learn it, and it's not rocket science, I tell people, it's like playing a board game. He's got to play it a few times with someone who knows what they're doing, or read the rulebook, which I would say is my book. But once you've done it a couple of times, it's the same thing over and over, it does take a little bit to learn. But now you have an advantage over those clients that are that are looking to use you where you can have a lot of knowledge and, and stuff that bring to the table then, and money that they can do deals with. You know, like the baby boomers are the classic ones right now that have large retirement accounts, they've moved around jobs, they can roll it over.They are a perfect client that needs to know this information about how to buy real estate and they want to they just been through this roller coaster on the stock market, right? We're seeing deals that can happen in real estate. So I think it's a powerful concept for building wealth yourself because you have a competitive advantage to find deals that like I don't or other people don't. And also it's a skill set that you can bring to your customer base that can just make you more money today from commissions. We're actually just started this process in the office where with where agents have an opportunity to invest into a Roth as part of their Commission's grow, and we're just building a portfolio soA lot of real estate agents are looking for ancillary income and looking for streams of income. So over in our office we have coming out soon as you can direct your own investments. And how it works is just you'd pick up much of your commission you want to put into it, everything is set up through a Roth, or through a custodian and all the above and, and it's beautiful, and we like it as a recruiting tool, but also is like to help the agents because not very few agents actually invest themselves.Which is crazy, you got you shouldn't do what you you know, eat what you preach.So like, but knowing this stuff is how you get there you guys, at the end of the day, I can't tell you how many good deals I've seen over my lifetime in real estate. And there's always like, Oh, I can't get that one now, because I gotta pass up on it being an agent you come across, at worst, maybe two or three home runs a year. That's all you need, dude, like you left for five years in a row. You're good, right? Yeah. So I tell my clients, probably with the Roth accounts is like those homeruns. You see, like the real estate developer I gave, he knew that was a little bit amount of money he did put down to get the option, little risk, but it could have a huge reward that he didn't want to pay tax on, he did it in a Roth account. So like, those are the ones it's like, I'm gonna grab that one and do it in my Roth. And it does just take a couple of those a year. So but I'll say this, you know, for my clients that but 10 million plus accounts, here's a little more pay more attention to what they're doing. First of all, most of them are in real estate, but they're all doing different strategies. It's, there's not one person to the same. They're all in different markets, some people are doing lending, some people are doing apartment buildings, some people are just doing a lot of little deals that add up butbut they just got good at doing what they know. You know, and they focused in on that. And they're using a tool that they can build tax free wealth with where they don't have to cut the IRS a check, you know, the, the dirty silent partner that doesn't do anything, but you know, once a third of whatever you take, take take take. I get it. Awesome, dude. Very cool. Any final things you want to say? Or you want to you have a you have a we got a gift or some you gotta like a little? Yeah, you're giving us that book for free guide? Yeah.This is only 20 bucks, you know, but you can get on my website with the Matt sorenson.com and at SRN sen.com. But if you go to directed ira.com.And click on real estate, we have our real estate quickstart guide, it's right on the homepage that you can download. That's really like a six pager that explains how it works. I have a lot ofmy clients that use this real estate professionals that use it to give to their customers. Did you know about this, it's just a good overview of how it works and what's possible to get into this 30 trillion in US retirement accounts that can all be invested in real estate. I would there's a big opera a lot of these people are like looking to do other things right now guys, big up. And like this is just an email. And it's a case study how this how this single mom just generated a $250,000 tax free investment all because she had a 401 IRA. Here's how you do it that she is going to take off like it just does. It's really good. I like it. All right, dudes. Appreciate you guys listen another episode of the real estate marketing dude, you guys know where to find us? Go ahead and subscribe to our channels and us on Facebook IG and more importantly, don't forget to sign up for the content creator challenge we're going to show you over a two week time period how to script and distribute videos as well as create a ton of social media video email content, basically everything you need to stay in front of people, because 80% of them will use the first person they think of when they think of real estate this year. Is that going to be you? Well, you got to start creating content to lessen those chances. I'll see you guys next week. appreciate you listening in and see you then peace. Thank you for watching another episode of the real estate marketing dude podcast. If you need help with video or finding out what your brand is, visit our website at WWW dot real estate marketing dude.com We make branding and video content creation simple and do everything for you. So if you have any additional questions, visit the site, download the training, and then schedule a time to speak with the dude and get you rolling in your local marketplace. Thanks for watching another episode of the podcast. We'll see you next time.Transcribed by https://otter.ai

Adapting to Shift With Investors

Play Episode Listen Later Dec 10, 2022 41:54

Today we are talking about how investors are handling this recession. Like agents, they have to adapt to survive this market, and with the right strategy, thrive.Martin is the founder and host of the Stroudsburg Real Estate Investors club. With his leadership the group has gone from zero to over three hundred members in less than two years. He currently manages and operates a Real Estate Investing firm operating over five million dollars in assets and he helps investors get above average returns by investing passively in multifamily Real Estate with him and his team.Three Things You'll Learn in This EpisodeHow do you make sure everyone knows your name?How are top agents thriving during a recession?Why you need to be making content and developing a brand.ResourceCheck Out Martin's WebsiteReal Estate Marketing DudeThe Listing Advocate (Earn more listings!)REMD on YouTubeREMD on InstagramTranscripts:So how do you track new business, you constantly don't have to chase it. Hi, I'm Mike Cuevas to real estate marketing. And this podcast is all about building a strong personal brand people have come to know, like trust and most importantly, refer. But remember, it is not their job to remember what you do for a living. It's your job to remind them. Let's get started.What's up ladies and gentlemen, welcome another episode of the real estate marketing dude, podcast, folks, where we chat about today is how you diversify. When the market stops transacting by 33%. What are you gonna do during this recession, this is gonna be the best opportunity that most of us will see to actually start building wealth and you don't make a lot of money when everyone else is buying houses, you make a lot of money when no one else is, because that's where the opportunity is. And if you're not adopting the mindset of becoming a real estate problem solver, right now, people are going to be eating your lunch. So what I wanted to do today was bring on a investor, not any investor, Latino investor. That's why we got on the show here, because we support our Latinos on this show. But what we're going to talk about guys is sort of how to start thinking outside the box, here's the reality, right? You're gonna, there's gonna be a lot of opportunities. And when the market shifts like there's, there's gonna be recession, people are going to be losing their houses, their jobs, and other things. And they're going to need help. And this is why every real estate investor in the country is self attaining on the sidelines right now. They're not getting in yet, but they're just sitting there. They're putting on their helmet. They're strapping on their chin strap, and they're putting in their mouthpiece, because they're about to go to freakin feast. And that's why these markets are so exciting. And real estate agents, lenders, you guys are in the best position to take advantage of this different stuff. So we're gonna get into that a little bit further right now. But without further ado, let's go ahead and introduce our guest, Mr. Martin. Perdomo. A Superdome. All right. That's correct. Port demo. All right, Martin, why don't you go ahead and tell everyone Hello, and tell him a little bit about yourself. Hey, everyone. Thanks. Thanks for having me, Mike.Really appreciate it's an honor to be here on your show and talking to your audience. I've been investing in real estate since 2007. Man I first fell in love with real estate. When I was 1616. I grew up in New York City, born and raised in Washington Heights, and those of you that are familiar with New York, that's the hood man, it's rough in the 80s and 90s. And at 16th on my 16th on my 16th birthday. My mom kicked me out for the ninth time she said it says she got home she kicked me out. And I quickly realized my sleeping in trained and and rooftops and and parks in New York City. And then the beaches in Far Rockaway Beach, that human beings needed something really important that shelter and food, right. And that's when I first fell in love with real estate, I made a decision unconsciously that I was going to own a lot of real estate, so I never have to go through that pain again. And that's what I've done. So that was, you know, that was my debt. When I made that decision. I bought my first investment I bought my first real estate piece of real estate when I was 21.And I bought my first prop my first investment in 2007. So I was a mortgage broker. And you know, I was the guy giving people those all those bad loans. subprime loans. I was countrywide days baby. Right. I remember that remember countrywide and all those never, never before in the history of real estate has a college graduate at 21 years old had the ability to make 750 to a million dollars a year just right out of college at their first entry level job. That's the type of market it was for those you guys that weren't around back then. It was crazy man. It was we were making so much money. I rememberMike being in my conference room with my sales team and telling them I didn't know what I knew now, right? Obviously, and I remember telling my people say, Hey, man, we're giving these these loans these 300,000 loan to someone making $40,000 a year. Fundamentally, it just doesn't make sense. But I wasn't intelligent enough. I wasn't smart enough astute enough to know how to look for the opportunities. I didn't know how to prepare. Like you said, when we started earlier.The real estate investors are salivating right? They're chomping at the bit right for the opportunities that are gonna come.And you know, last year I was saying the same thing like this is not sustainable people offering me $60,000 over asking over the weekend, like put a property in the market and it's like I'm like this shit doesn't make sense. Like it's like deja vu right?It's not gonna sustain long term. When I say one thing real quick why he says that you guys gonna support point I mean cut you off. The 90% of the markets never seen a market like this. Like the agents out there. 90% of them never been through this market. Because 90% of licensed real estate agents have never seen a shift. Alright, we've been on abull market for 12 1314 fucking years. Right so no one knows what to expect, including some of the top we have one of the top agents here in San Diego, I got a little Facebook's back. You're listening. I'm talking about you, bro.The market crashed up. It's like the top agent and Sandy Berg's ever gonna crash been doing business seven, eight years? Do you guys all have egg on your face? For anyone who's saying the market is crashing? Whenever it goes up like that it is unsustainable In today's internet. Today's it's not a supply and demand issue? I don't think so. They're people want to buy houses, even though they're they're overpaying for them.It's an affordability issue. Right now that that said, that's one of the reasons of why we decided so I told you told your audience earlier we flip houses, right? So we decided our strategy now is when we flip, right? Because you got to be careful when you're flipping houses in a market like this.What you're doing, you got to really understand the data. And that is one of the things that you know, I learned from 2007 After buying my first, like 100 bought my first investment 100,000 I was $100,000 underwater, within two years. Pricing property was worth I bought it for 272 75. Same property was worth 179 Two years later, and you bought in oh seven. So you got caught your pants down? Yeah, man. Yes, sir. However, I just saw a comp of that property burned out. I had college kids and they burned it down. And that saved me. But I just saw a comp, I just bought a triplex not to combat a month ago. And the appraisal comes in here. He's like, Hey, what are you gonna bring that in at? And he's like, I don't know yet. But here's my comps. I just saw come for a property two doors down from there. Same like exact square footage of that property sold for 385. So my lesson, right? Is Real Estate is very forgiving long term. Right? If don't wait to the good old saying don't wait to buy real estate, buy real estate. Don't wait. So even if I would have hung in there 14 years later, I would have I would have I would have turned around to give up. Yeah, yeah. So so so if you know, it's about that mindset of having that long term thinking in terms of long term and not just right now, when you flip properties,like some of the things that one of the strategies I do, if you don't know what you're doing, and a lot of the pretenders are already out, right? You got Redfin just left you got glass door, leftdoor,or whatever their name or open door, whatever the name of that, like glass or that's, that's a really good way tothey all got out. And I remember talking to my team Mike, last year saying, you know, those guys can compete with us. And the reason I say that those guys can compete with us is because while they have virtually unlimited funds, right, they have all this money. We're intimate in this market. Can you imagine those of us that are seasoned? Alright, think about this for a second. Those of us that are seasoned investors.What is the toughest part of the rehab process is dealing with those freaking contractors, right? That is the toughest part, right? Those contractors will eat your freakin lunch. And can you imagine what contractors if they try that shit with us? And we're local, we're here we have boots on the ground. We have a team assembled everything. What are they doing when they get a call from Zillow? Hey, I'm Zillow in California and I want to rehab they're killing those guys. Right there. They're like, can you imagine what they're doing to them so and no disrespect to them not not throwing shade on them I just on a one to one that really can't compete right with us locally, because we're local, right? They're not they're not in the business of making money. They're in the business of spending money.And they have to spend X amount of money in those hedge fund worlds, whereas the mom and pop or the individuals are actually in the business of making money. And when I never understood what all these pods is, like, why you guys like out and like the worst times to buy, like they came out in oh seven, two member they started buying and they went out right away. It's like, Dude, you got to you create the fun, like in six months from now, then you buy all the properties, you know, by him whenever I was paying peak dollars for him, that's just like, you would think that they would do like more research on like how real estate works for these high end funds, but none of them do because they're just spending money. Like a drunken sailor. It doesn't make sense to me like, like, I study the data man. And I'm like, you know, what, why would you like why are how are you guys justifying those decisions? Right? One of the decisions we made earlier this year when we saw this, all the correction and interest rates going up. Actually, late last year, I said we're going to now shift to when we do flip a property we're only going to do properties be low sub 250, right? ARV is up to 50. And that's because in our market that's considered affordable. And what I did was I went back and I studied 1981 when interest rates were 16% Right?those kind of environment that we're kind of projecting we're going into. So I studied what investors were doing that and right. And I looked at, hey, people were still buying houses. I bought my first house in 2000. And it was I paid I had an FHA loan 9.75% interest rate was my rate, people are bitching about 7% interest rate right now, I'm like, stop it, stop, like,you know, that's not my first investment. And I was a mortgage broker, and oh, seven was 7.75. Right. And I had a 740 credit score, and I was a mortgage broker, I gave myself the absolute best deal.And so we decided we're going to only buy properties that are in the affordable space, because in 1981, the investors that were making money were were were selling properties that were affordable, then we feel based on the data income and things like that, demographically, we feel that 250 Regardless of where interest rates go, we give a good product, good clean product turnkey, we're always going to have a product, we're always going to have a buyer for that. So it's about studying the market, right, Mike? Like really knowing your shit, like really just studying and understanding what it is that you mean, I can't, I can just go buy a house and throw on some paint and granite countertops, stainless steel appliances, refinish the floors and make a bunch of money. That's what that's what the novice is doing. That's how they lose money.So let's see here. Here's you guys, if you listen in to what he's saying, like real estate investors are a large part. I've been become investor friendly. First and foremost, like for all the realtors listening to this guy become investor friendly. Because that's where the transactions are gonna go. Like, would you rather work with an investor that does like 10 houses a year would you rather work with one individual buyer is going to pitch about the GFCI outlets, and their dad is going to come to the inspection and give you a heart attack. So which wild you really want to go with it? And with that you're going to have this is why I bring him on the show is because you're going to have these conversations. I got some questions for you, Martin, because there's a lot of agents and I want to get more into your strategy. But the question for you as would you like if you had like First off, I mean, investor friendly real estate agents, you really know what I'm talking about like that know their shit, like investor friendly people that are gonna go out there and source deals for you. People that did be like, Hey, yo, do you know like, the zoning in here is way under built. If you brought this to its highest and best use, you could probably do this with that. How many people are talking that way?Dude, I host the local real estate investors meet up in my market. And I talk about this exact same exact same thing you just bought up. There is a handful, maybe three in my market that I can that can have that kind of conversation with me. And not it's not the realtors fault. They're taught to stay out of trouble. In real estate agents school, they taught they're taught to be scared and this is they've taught that anything outside of a mortgage traditional 30 year mortgage or 15 year mortgages Oh, it's illegal. And they and this is what I tell Realtors when they come is learn how to provide value to a guy like me because I'm the gift that keeps on giving right? Like I'm the gift that you know I'm the guy that's gonna give you transaction after trends you want to partner with guys it doesn't have to be me but a guy like me right? Fortunately for me my wife is a realtor so I've trained her on how to think as an investoryou got you guys are probably like going to like Valentine's day talking about cash on cash return and cap ratesyeahunderstood how to speak the languageand how to provide value to like just exactly like a ton of money with with guys like us that are we're constantly buying right the you know we're not going to pitch about little GFCI outlet we're not gonna bitch about the roof and a bunch about this like we just wanted to do it makes sense we run the numbers it makes sense our students do and you sell it to us and you're going to step in and then you're going to sell it for us so it's a double whammy right that's that's Mark playing that's playing a small well most people don't think that eight investors have a bad name like really agents Oh get the investors waiting someone's getting ripped off that's not true like guys got I'm gonna rewind what happened in oh seven people are gonna need investors to bail them out. I mean, that's just what's gonna happen. Investors yes, they make money but so do you.Right? Are you are you a dick for fucking selling me a house at a 5% rate that you just put on the MLS and you just let the MLS sell? Let's be honest, right? So you have to open your eyes to this stuff you guys and that's my only goal to show today is to really get you thinking outside the box get you guys really looking at why not only do you want to become investor friendly in this upcoming market, but also work with different investors and honestly, like, Who here wants to sell real estate for the rest of their life? Nobody. Nobody can last the reason why 90% of the business hasn't been throughshift like this is because no one last in this business for more than 10 years because it can be a grueling job. And most of the people that start out and do very well become investors themselves, you would think that makes common sense. It's like sort of the natural progression of a real estate agent, learn the market, go in there, and then eventually become the investor become your own best client at the end of the day. So let's get into some of these strategies. Now just wanted to pick that up, because I want to point you guys in the right direction to head during this recession. Because just do it, trust me.Where I wouldn't had as just being a regular residential agent anymore, I just would stay away from a adept it's time. So let's get into this, you're gonna go into the buy and hold, which is attractive. A lot of investors like to make a quick buck. It's harder to find a buy and hold. Let's get into that. strategy. First. Buy and hold is different by the bind flip. Guys, I'm sure you guys understand that. But what do you look for in a buy and hold? Like, I just want to play real estate agent and you play investor? That's what you are. And I paid you What do I look for? What kind of properties are you to buy? What's the strategy in this? So when I'm looking for buy and hold, I'm looking for bigger plays. But if you know, I don't know who your audience is, let's just I just bought a triplex. Let's just Let's just Let's just look at that right, I just bought a triplex a couple blocks from here. So that's the most recent one I bought less than a month ago. And when I looked at that, I look at a couple things, right? It's a little you run the numbers differently, right? I'm looking at, I'm looking at Cap rates, I'm looking at income, I'm looking at value, add opportunity. So So those of you that don't know capitalization, what capitalization rate is capitalization rate is my rate of return on my on what that's the rate that properties are trading at,in a particular market, right. That's how you could calculate the value. So I look at a What's the rent? Was it current rent, and that particular asset? And then I look at what can I get this rent to? And what do I have to do to the place to get it to that rent? So for instance, if I have four let's just say make even even if even numbers if I'm getting $36,000 a year for let's call it $40,000, a year from that triplex currentlyperforming so it's underperforming by like 15 grand a year, right? 15 grand a year, so I can get it to 15 to 55,000 hours a year. How much money do I have to put into the property? To get it to give me that? And then what's my valuation once I increase it to that income? So it's a it's a little bit different? Beast, right? I'm running different animals, and I'm running different different numbers. And then can I exit on a refi?too, to burn it. And maybe the people know that you're people familiar with the buy, renovate,rent, refinance, and repeat. If I can borrow it, then what's my, what's my, what's my tenants? Andwhat can I refinance it out, and while they're still cashflow, so there's a lot of different moving parts. And I'm looking at, for instance, this particular one, Mike, we it was a three units or three unit. We have crappy tenants in there, places falling apart, it's way underperforming, I mean, the rents, I can get another $600 in rents, what do I have to put into it, though I have to put in there's a hole in the roof like roofs getting done tomorrow, there's a hole in the roof is just falling apart. I have no idea how people will live like that. But my value add my upside in this particular and agents pay attention if you're predominantly listeners or agents. My value add was that there is a there's a meter in the meter base electrical meter base, there's a fourth meter in the basement. It's a walkout basement. And that was grandfathered in and there was an apartment there at one time there's a kitchen and already a bathroom in there. It's full of junk right now. But that right there turns changes that whole property, I can go in there now. But a new meter, put it rewired, put new, redo the bathroom, redo the kitchen, turn it into a brand new place, right, and I go from buying that place, I'm gonna wind up putting about 60 grand in rehab into that property. Bought that place at 219. These let's call it 201 96. Let's just call it 200 200. I'm going to put 60 in and I'm going to have 260 The after we call it ARV after repair value the new valuation because I'm fourth appreciating it the new valuation of the property projected after I'm done it's $475,000. So what can I refi it out right what what can i What can I get with that right? How much equity do I have? I just created a ton of equity for myself. This particular and I have a cash flowing asset and the asset will be paid by the by the debt is paid by the residents. And I keep the assets and I still cashflow it's a win win win win situation. You got to know how to buy. I don't kind of give you the long, long view. But that's theAre the Fit kind of the 50,000 foot view of all the moving parts? When when I'm looking at buying multifamily now something that's small, I'm gonna look at it. That simple, right? Something bigger, we purchase a 57 unit earlier this year. And that one similar strategy Hey, what was the wrench wrench for 700 we pushed him all the way to $1,100 a month, we sealed the driveway, we dropped about 200,000 The property did a bunch of a bunch of things to add value to the place. And we forced appreciate it. The asset at that scale. Now we force depreciated by about $2 million in less than a year. That's a bigger scale. It's a little bit more sophisticated, but it's same same, same product Minister same process. And if agents just learned how to like if they just got educated, listen to guys like you and learn how to do things like this man, like, like, learn how to run these numbers and bring deals like this to guys like myself. Holy smokes man, like, sky's the limit for you. Your life will be so much easier. I do have a question for you, Mike, what do you rate your projections? What are you seeing?2023 is going to look like? I think it's going to change on where you're at geographically. I think the blue states are gonna get their ass kicked. Like they already are. I'm in San Diego. They're getting crushed.I think it's an affordability issue. So the high peak markets, the Phoenix, Las Vegas, all of California.The Midwest markets seem pretty safe for the time being. But yeah, it's because I don't everyone, the typical real estate agents, oh, supply demand, there's demand. And they're just reading these talking points from National Association of Realtors. Right. But in reality, no one's considering gas prices, no one's considered inflation. And no one's talking about the stuff that takes the average Joe out of the market, and more concerned about what's going to happen tomorrow for their kids. And that's the reality of it. The average nope, people don't have savings. You guys like people act like there's a bunch of people have savings. No, the vast majority of people out there have are living paycheck to paycheck. And when everything goes up two or $300 up a month, like I'm sorry, you no longer think about buying that house, you think about your future kids tomorrow. So I don't think it's an a supply and demand issue. I think it's all affordability. And I personally think that our government is trying to crash the real estate market. That is many evidence of that they're trying to why they're doing it, we won't go into conspiracy theories. But point being is that it's happening. Right. So now with that, I think that as the recession hits, and the more and more stuff they do to crush the market here, there's gonna be people that are in distressed, and if I'm focusing on anything gets motivated sellers, and that's why we built owner advocate.com. So if you guys wanna check that out, go and check that out. I'm going all after motivated sellers. But I believe everyone needs to be a problem solver. Because when I do know from the last crash, if you guys been listened to show I mentioned a couple times, but we are Big Short Sale 25 to 35, close short sales a month, I was buying a percent of those and flipping them. But I didn't care about the transaction, what I focused on was just helping people. We did that for about two years in a row, largest short sale team in the country, doing the exact same stuff that I believe is about to happen. It's not going to be as bad as it was in oh seven. I don't think they'll I think they'll Don't ever let those foreclosures go to public. I think they'll transact and behind closed doors to the funds, and all the other things so that the public perception doesn't crash like it did last time. But there's going to be a million opportunities for the mom and pops because the eye buyers are now exiting. So there's our big cash buyer competition. And where you're at a smart like focusing on the lower dollar, the affordability within your issue is probably where I would play too, because no one knows what's going to happen tomorrow. So if you're rehabbing, I wouldn't go for the luxury rehabs right now, I wouldn't even touch them. I don't even think about them. I would do exactly what you just said. You want to be right. And the affordability areas. It's not supply and demand affordability. That's your issue. And nobody wants to get caught with their pants down. Because I could tell you I know I tell you so many people who have like I said, you guys, we both were both talking here. We both were around and oh seven doing the same stuff. And you just have to be a little bit careful. Now on the flip side of that, get excited because I'm not trying to paint doom and gloom. I think you'll have more opportunities. I think it'd be tonic opportunities right here in San Diego because I think it's going to crash you here. More so than like Florida.The Texas is the Florida's all the inbound states are still inbound. We have clients all over the country, and they're not as effective as much. But the Midwest states I think are going to be safe. But the high end luxury is what I'm seeing struggle right now. The higher end of your markets.Yeah, I'll share this with you. I went to a conference and I'm not gonna mention the conference name. It was in February, in Colorado, because I don't want to I don't want to put them in bad light. But it was this very same day, Mike that that Ukraine got invaded by Russia. And so I just flew into Colorado.And the news hit that morning and I was like, Okay, this is great. I mean, the biggest commercial real estate investors conference in our, in our industry, right, one of the biggest. So we're gonna talk about this stuff, you know, gas is starting to soar rightly, all these things and we're gonna talk about and I was so disappointed man.To your point ofwhat you said earlier how people are getting affected I was so disappointed that you had some really smart people there were people from Marcus Miller champ really, really intelligent people. And they were saying that interest rates going up at that time probably interest rates had just started going up, interest rates going up, gas prices going up and electricity going up to the level that it is right now. 30 40% increase in some some places in electrical and electrical that it was not going to affect multifamily apartment buildings. And I was so disappointed dude, I was so disappointed. I was like, how could you insult my intelligence? How could you insult my intelligence I flew all the way out here from from Pennsylvania to Colorado and you insult my intelligence and say that this war is not going to have an impact that interest rates is not going to have an impact in that we're just going to keep riding this gravy train. It's an absolute insult you understand what I'm saying?when gas prices go up and your average working class person gas prices are going up again have you looked at the gas pump they're going up because OPEC cuts production? Oh the elections over of course they're gonna Yeah. Right. Exactly right. So so so when when that occurs, right gas prices goes up and now regular Mom and Pop working class America has to spend another two or $300 a month Do you not think is going to impact my read collections? Do you not think is going to an electrical now you got to spend another 20 another 20 30% Extra in to heat up your apartment? Do you not think that's going to have an impact like you are foolish? If you expect me to believe that and we as Americans as individuals we have to be able to look at this stuff we got to be listened to people and discern and make our own decisions as to what makes sense and what doesn't make sense. I wouldn't I would go out and say that especially as a commercial because the same thing happened oh seven I was one of them. Markets number one that's what I got caught with my pants down Marcus I forgot about always appreciate the market doesn't go down. It was just my my inexperience you know, in the market. Like what you said earlier? Yeah, if you stick it in the long run, you're always gonna win. But there will go in and out and out. Like it's like we've been sampling the crypto right now. It's getting its ass kicked.But you have to just be ready to just no one knows the answer. But when things are going good no one ever wants to talk about what the negativity of it because the same thing happened. Same thing in the residential side. I was like, oh, Martin's gonna go you should buy right now. And I'm always like, Dude, I wouldn't freakin buy right now, this guy just paid off my old neighborhood, there was a house listed for three mil and it sold it for $1 million over list price. $1 million over list price. Insane. Like it's crazy, like, and then you would think that the people buying those houses aren't like you would think they're intelligent, and they think about this stuff. But they're just most times that people are buying in that price point they have so much money, they don't really give a shit like an extra 500 $250,000 isn't going to do much. But you're right where it's gonna hit his middle America. And it's gonna hit that middle America right when the spot that you're playing. So you're gonna hit distressed assets, plus, you're gonna be able to liquidate them and exit out of them.You know, what was the most interesting thing last year, when when we were flipping last year, I had quote unquote, investors. First of all, most of us investors, we don't buy real investors. And if this is you, I'm gonna apologize for you up front if you're an investor. Real investor knows how to find off market deals, get off market deals. You've mentioned it multiple times.When I had the funniest thing to me was when I had I sold multiple properties last year 40 50,000 over asking price Mike to quote unquote, Airbnb investors. And I'm like, holy shit how I'll be buying this property. You're gonna be buying that back in about six months. Back in a couple years, right? Because I was like, I look at that I'm saying how are you making these know how you penciling these numbers? I caught what investor buys first of all, you're not an investor. If you're paying 40 $50,000 over asking on the retail marketing, you're competing with retail buyers. Like like likeyou love and you competing with retail buyers. You're not a real investor. Right because a real investor is not competing with retail buyers. We're not buying to live retail buyers have the luxury of overpaying and falling in love with properties. We don't fall in love with properties.It is we running the numbers. The numbers gotta make sense if the numbers make sense we do with you. Yeah. Sherry non-emotional either works or doesn't. Like, that's why I like it.It works or it doesn't. And that's a problem with a lot of real estate guys, a lot of real estate agents. We investors have a bad rep amongst the real estate agent community at times that all but at times, oh because they look we lowball Well, that's how we make our money understand that we have to buy at a certain price point in order to be profitable. If we pay what mom and pops pay when they buy like a regular tradition. We can't be profitable. We can't We can't make a profit. Yep, make sense? What? Any final words here like what? You know, where do you think we're gonna go? You think you're gonna do more holes here? You're gonna do more flips when you think the markets gonna head? Back to you? Yeah, well, we're, I think that the market is headed for a correction. But I got to tell you, Mike, I got it wrong. And 2020 I got it got it wrong, right. 2020 I was preparing I'm salivating when when COVID hit. I was like, Yeah, this is it like this is it? I did, we're gonna I got it wrong and went the other way. I'm looking at the data, or the fear mongering has already been done. As you know, it's already all over the media, that rental housing market and this housing market that? Well, I gotta tell you, man, I just looked at the numbers. I spent a couple of hours this week looking at the numbers in my market, quarter over quarter. And men were steady, like, we are still steady. We are still like, like, I'm like, okay, yeah, interest rates are going up. People still buying. I'm looking, I'm comparing quarter over quarter like what's happening, comparing it to last year. And it's like, it's steady. So my advice is if you're going to be playing and you're going to be investing is don't be listening just to the media and word even. Don't even don't even listen to me, right? Like, if I'm telling you something, go do your own due diligence and research it and do your own due diligence. Pay attention to what's happening in your market prepare. Like I was saying, I got it wrong in 2020 I thought that we were going to the market was gonna blow up and I was gonna buy a ton of shit. And it was gonna be, you know, an amazing time. It didn't it went the other way market just demand went up, prices went up. Remember that?I could be wrong man. I, I looked at I'm looking at the data. And wow, the the interest rates are going up. And in some markets prices prices are coming down for sure we are seeing prices, but a crash. I don't know. You know, what I what we're doing is we're staying couple things. We're staying disciplined with our numbers. We're buying, right? And we're planning for a worst case and we're getting ready for if that crash does come, where we're going to continue to buy, what we are doing is we are staying in the game. We're not going to stop playing. We're paying attention. We're watching the data. We're being disciplined, and we're not deviating and we're not making any crazy bets right now in this market, because we don't know where the market is going. Overall, we're staying disciplined, and we're studying the market. We're watching the data closely. And we're watching where things go. We're watching what the feds are doing. Like, if you're in this business, you need to be paying attention to what the feds are doing. You need to be paying attention to what they're doing. I do you believe that there will be opportunity in the multifamily space. Becauseyou're here. Here's my thought, right? There's guys that had that bought larger multifamily bridge, in the garden bridge loan, were 90% LTV, and their margins were thin. So because those guys that were betting that the market is never going to stop and rinse, we're never going to stop going down and all that shit, right? Those guys that had thin margins, and their value add was 50 or 75 or 100 bucks. And now they're in this position where the banks the capital markets are saying wait a minute, rates are going up, we don't want to now they can't cash flow, and they can't make those numbers pencil out at these ratios, though things are gonna go going to be on sale next year, just just because of interest rates. So that just makes logical sense for me, I yeah, man that that's an error of the get those people with those bridge loans that can't refi into long term, they're gonna be in trouble. If their margins were thin, and they were betting that it was going to rents were going to continue to go the way they're in trouble. Those guys are in trouble. They're going to have to fire yourself. So I'm gonna be looking for those and I'm going to be for those larger more times. But as for the single family, think about it, brother is not like when you and I were back in oh seven, right? Where it was those two year arms right? 9.75 gonna reset in two or three or four years. We don't have that. Now, we have an inventory issue because people are not selling they have those two 3% interest rates. They're looking at this or saying we can weather this where am I going with it? Seven 600% Right, where am I going? Right? So so it's just a weird time. It's very different. And I'm just we're just preparing my advices prepare, getting cash every position but be disciplinedBe disciplined with the numbers and pay attention to where the opportunities are, where the puck is going, right? where the opportunities are good in either way, like it's around how you buy, right? It's on how you sell or when you say it's on how you buy, you got to buy, right, and you're good no matter what it is.And you guys just got to be careful. But I mean, just by listening to the show, you guys, can you see how you could reposition your brand and niche down in these times when the residential market slows down a little bit, you niche down, you find a niche. And that's what you lead gen. And you do one thing really well, real estate investors never have a listing issue. And I don't understand why agents ever do. And it's because they know where to put their solution and who to put in front of us is why I'm saying become a problem solver, guys, people are gonna need it. And there's gonna be a lot of opportunity out there. The only thing I would saythe one number and I agree with everything, the one thing I'm worried about, what I would put is that anyone who bought from 2022, first quarter to 12 months prior, and I'm talking specifically about the FHA as the VA loans and the 100% of your financing, like all those people, if the market does shift, like in California, we've already shifted 5.3%. So the cost of sale is 8%. In 5.3%, if you only put down 2%. Those people are already underwater. Yeah, that is that's the that's the one that's the thing, I can't get my head around. Becauseonce people see that they're underwater like Phogat. Done SWAK. That's what happened. That was the snowball effect that took place last time and I can't get my head around that. So yeah, the affordability but people want to buy people are out there that they need to buy. But they're like worried about the affordability aspect of it. But there will be a lot of opportunity. Regardless of how you look at it. Go ahead where you say, there definitely will be opportunities. My the other side to that though, Mike is yes, there's already people under water agreed agreed with you, we've seen a 7% drop in value here. We peaked here in we peaked here in April and April of this year here in the Poconos. And we've seen a 7% drop April to now which is a significant amount of time, and that's a lot. That's a big significant drop. However, the the other side to that is you have those people right to have those fHh vas, they still have those two 3% interest rates.So while they're on paper, on their water, on paper, they're on the water, what's their payments? And remember, what do people buy? You know, and this why they buy payment, they buy payments, so Hey, am I going to walk away because on paper, it says I'm 50,000 on water. And if I move my payment, my expenses for my family is gonna go up. So it's again, it's a tricky time. Like I've thrown that shit around in my head. Yeah. Tricky time. When when people pencil the numbers out, okay, do I walk away? My payment is 1500 for this 350,000 Not alone? If I go someplace else, what can I get for 1500? Right? What kind of Prop work? Can I rent for 1500? Why would I get and people have to do that math people will do that math. Some people will smart people will do that math.Right. And it's like, and like I said earlier, if you buy real estate and wait over the long haul, if this is you and you're listening, remember what I said I bought mine in oh seven for 2000 for 275. And oh nine that was 100,000 it was worth 179 and 2022 Property two doors down from there exact same property a duplex sold for 385. So if you hang in there over time, over time,real estate is very forgiving over the long haul. If you can think the long term can weather the storm maybethe data has shown me that and my message to your listeners if you're listening and you're that homeowner is hang in there and think of the long haul, right because you're gonna just make it worse for your neighbor for the economy for everyone. So if you couldn't hang in there, hang in there. If you're distressed now and you have to sell you have to sell because you lost your job and you have no choice that's a different that's a totally different story different conversations and you know guys like Mike and myself will buy themfor short sale, right?Well, you hang in there very interesting dude great conversation. Why don't you go ahead and give our listeners your closing thoughts where can they find you? Where can they learn more about your business some of your trainings and whatnot. Yeah, so so you guys can find me on check out my podcast Latinos and real estate investing podcast on Instagram. As the lead strategists look me up the lead strategist. I have a ton of stuff or you can check out my YouTube as well. I have a lot of content on YouTube. Lead strategist where I put a lot of my rehabs and a lot of a lot of cool stuff on there live videos of evicting tenants and things like that I show I like to share with people the real the real stuff, a lot of a lot ofguys out here like to show the fluff. I like to show the real, real deal.Open upI have a video like that with the with the actual constable putting this lady out. And it's interesting because people on the insert in the Internet are like, Oh, you're such an asshole. You're such this. What people don't know is they don't know the full story right? They know the full story like, Hey, I gave this lady two months free rent, I let her like, this is it like, you know, like people don't know the full context and the internet is kind of brutal like that. So anyways, go check it out. I have a bunch of stuff like that out there where we put it out real life stories. It's not a pretty business. It's a profitable business but ultimates a problem solving business, right? Someone you don't make really good at solving problems, someone's problems. That's all real estate is, Folks, we appreciate you listening to other episode the real estate marketing podcast if you like what you heard today, once you go check out one of our products is called owner advocate agent.com. If you need to sharpen in your listing strategy and get more investor friendly, that's where you do that. And if you need seller leads, we have all kinds of a for you. So go ahead and look at that. Check that out and keep listening to our show. You can reach us at real estate marketing do.com referral suite.com or the owner advocate.com. Appreciate you and have a good week and I'll see you guys next week. Bye. Thank you for watching another episode of the real estate marketing dude podcast. If you need help with video or finding out what your brand is, visit our website at WWW dot real estate marketing dude.com We make branding and video content creation simple and do everything for you. So if you have any additional questions, visit the site, download the training, and then schedule time to speak with a dude and get you rolling in your local marketplace. Thanks for watching another episode of the podcast. We'll see you next time.Transcribed by https://otter.ai

Home Inspection Mistakes, part 2

Play Episode Listen Later Dec 5, 2022 50:58

This week, we continue to talk about home inspection mishaps, misadventures, and costly mistakes which we learned valuable lessons from. Reuben starts by sharing a shocking story about finding valuable items before or during the testing of dishwashers and ovens, changing thermostat settings in appliances, and getting locked out of the house. He and Tessa also talk about testing GFCIs and remember breaking into a garage after testing GFCI outlets on the outside. They also talk about ladder safety on roofs, attics, and decks. They share amusing experiences about falling from roofs, walking on wet wood roofs, putting ladders on wet and icy surfaces, and the use and dangers of A-frame and telescoping ladders, and forgetting to tie down the ladder on vehicles. They also talk about horrific truss stories, paying for damaged ceilings, and exploding propane fuel. Reuben hilariously remembers inspecting the wrong house and finding out halfway through. They talk about leaving behind tools and belongings and losing them. Tessa shares momentous experiences with cats; from escaping the house during a showing inspection, herding the cat out of the attic, and cats attacking agents and clients. To see some of the photos that accompany these stories, check out Reuben's blog post on this topic: Top 20 Home Inspection Mistakes (I've made) Share your home inspection mistakes. Send your stories to podcast@structuretech.com.

mistakes home inspections gfci gfcis

How to Position Yourself to Win in a Down Market