Podcasts about gre

Oscar Wilde once wrote: “Everything is about sex, except sex. Sex is about power.” In this first installment of a two-part series, I discuss the truth of this statement's first claim. Especially when it comes to men, I contend that almost everything really is about sex. The sublimation of the sexual impulse into prosocial ends is what makes it possible for men to do the difficult, dangerous, and uncomfortable tasks demanded of civilization. For better or worse, productive output is largely based on this transformation. This is the true power of male desire. Join my community: https://the-captains-quarters.mn.co Buy my book, "The Value of Others" Ebook: https://amzn.to/460uGrA Audiobook: https://amzn.to/3YfFwbx Paperback: https://amzn.to/3xQuIFK Book a paid consultation: https://oriontarabanpsyd.com/consultations Subscribe to my newsletter: https://oriontarabanpsyd.com Social Media TikTok: https://www.tiktok.com/@oriontaraban Facebook: https://facebook.com/profile.php?id=100090053889622 LinkedIn: https://www.linkedin.com/in/orion-taraban-070b45168/ Instagram: https://instagram.com/psyc.hacks Twitter: https://twitter.com/oriontaraban Website: https://oriontarabanpsyd.com Orion's Theme: https://www.youtube.com/watch?v=WrXBzQ2HDEQ Thinking of going to grad school? Check out STELLAR, my top-rated GRE self-study program based on the world's only empirically-validated test prep system. Use the code "PSYCH" for 10% off all membership plans: https://stellargre.com. Become a Stellar affiliate and earn a 10% commission for every membership purchased by a new student you conduct into the program: https://stellargre.tapfiliate.com. GRE Bites: https://www.youtube.com/@grebites4993 Become a Psychonaut and join PsycHack's member community: https://www.youtube.com/channel/UCSduXBjCHkLoo_y9ss2xzXw/join Sound mixing/editing by: valntinomusic.com Presented by Orion Taraban, Psy.D. PsycHacks provides viewers with a brief, thought-provoking video several days a week on a variety of psychological topics, inspired by his clinical practice. The intention is for the core idea contained within each video to inspire viewers to see something about themselves or their world in a slightly different light. The ultimate mission of the channel is to reduce the amount of unnecessary suffering in the world. #psychology #men #growth

Na gradu Štanjel so odprli razstavo Muzej slovenskega jezika in knjige. Gre za prvo stalno razstavo o slovenskem jeziku in razvoju knjižnega jezika, ki na zgoščen in igriv način predstavi zgodovino, razvoj, značilnosti in rabo slovenščine v vsem njenem bogastvu in raznolikosti.

V Škalah pri Velenju so dopoldne slovesno zaznamovali začetek del na najzahtevnejšem odseku severnega kraka tretje razvojne osi, to je odsek Velunja. Gre za del hitre ceste, kjer se pri umeščanju in graditvi ves čas zapleta. A kot so zagotovili danes, bodo odsek med Velenjem in Slovenj Gradcem zgradili do jeseni 2029, upajo pa tudi, da bodo kmalu zatem odprli tudi odsek med Velenjem in Šentrupertom. V oddaji tudi o tem: - Gospodarstveniki na Dolenjskem so razočarani zaradi zastoja pred graditvijo novomeške vzhodne obvoznice - V Franciji skrajna desnica zaradi rezov v proračun grozi z rušenjem vlade - Letos umrlo enkrat več kot motoristov kot lani, pristojni pozivajo k previdni in strpni vožnji

You are in for a real treat on this episode. My guest this time is Greg Schwem. Greg is a corporate comedian. What is a corporate comedian? You probably can imagine that his work has to do with corporations, and you would be right. Greg will explain much better than I can. Mr. Schwem began his career as a TV journalist but eventually decided to take up what he really wanted to do, be a comedian. The story of how he evolved is quite fascinating by any standard. Greg has done comedy professionally since 1989. He speaks today mostly to corporate audiences. He will tell us how he does his work. It is quite interesting to hear how he has learned to relate to his audiences. As you will discover as Greg and I talk, we often work in the same way to learn about our audiences and thus how we get to relate to them. Greg has written three books. His latest one is entitled “Turning Gut Punches into Punch Lines: A Comedian's Journey Through Cancer, Divorce and Other Hilarious Stuff”. As Greg says, “Don't worry, it's not one of those whiny, ‘woe is me,' self- serving books. Instead, it's a hilarious account of me living the words I've been preaching to my audiences: You can always find humor in every situation, even the tough ones. Greg offers many interesting observations as he discusses his career and how he works. I think we all can find significant lessons we can use from his remarks. About the Guest: Hi! I'm Greg Schwem. a Chicago-based business humor speaker and MC who HuffPost calls “Your boss's favorite comedian.” I've traveled the world providing clean, customized laughs to clients such as Microsoft, IBM, McDonald's and even the CIA. I also write the bi-weekly Humor Hotel column for the Chicago Tribune syndicate. I believe every corporate event needs humor. As I often tell clients, “When times are good, people want to laugh. When times are bad, people need to laugh.” One Fortune 500 client summed things up perfectly, saying “You were fantastic and just what everybody needed during these times.” In September 2024 I released my third and most personal book, Turning Gut Punches into Punch Lines: A Comedian's Journey Through Cancer, Divorce and Other Hilarious Stuff. Don't worry, it's not one of those whiny, “woe is me,” self-serving books. Instead, it's a hilarious account of me living the words I've been preaching to my audiences: You can always find humor in every situation, even the tough ones. You can pick up a copy at Amazon or select book stores. Ways to connect with Greg: Website: www.gregschwem.com YouTube: www.youtube.com/gregschwem LinkedIn www.linkedin.com/in/gregschwem Instagram: www.instagram.com/gregschwem X: www.x.com/gregschwem About the Host: Michael Hingson is a New York Times best-selling author, international lecturer, and Chief Vision Officer for accessiBe. Michael, blind since birth, survived the 9/11 attacks with the help of his guide dog Roselle. This story is the subject of his best-selling book, Thunder Dog. Michael gives over 100 presentations around the world each year speaking to influential groups such as Exxon Mobile, AT&T, Federal Express, Scripps College, Rutgers University, Children's Hospital, and the American Red Cross just to name a few. He is Ambassador for the National Braille Literacy Campaign for the National Federation of the Blind and also serves as Ambassador for the American Humane Association's 2012 Hero Dog Awards. https://michaelhingson.com https://www.facebook.com/michael.hingson.author.speaker/ https://twitter.com/mhingson https://www.youtube.com/user/mhingson https://www.linkedin.com/in/michaelhingson/ accessiBe Links https://accessibe.com/ https://www.youtube.com/c/accessiBe https://www.linkedin.com/company/accessibe/mycompany/ https://www.facebook.com/accessibe/ Thanks for listening! Thanks so much for listening to our podcast! If you enjoyed this episode and think that others could benefit from listening, please share it using the social media buttons on this page. Do you have some feedback or questions about this episode? Leave a comment in the section below! Subscribe to the podcast If you would like to get automatic updates of new podcast episodes, you can subscribe to the podcast on Apple Podcasts or Stitcher. You can subscribe in your favorite podcast app. You can also support our podcast through our tip jar https://tips.pinecast.com/jar/unstoppable-mindset . Leave us an Apple Podcasts review Ratings and reviews from our listeners are extremely valuable to us and greatly appreciated. They help our podcast rank higher on Apple Podcasts, which exposes our show to more awesome listeners like you. If you have a minute, please leave an honest review on Apple Podcasts. Transcription Notes: Michael Hingson ** 00:00 Access Cast and accessiBe Initiative presents Unstoppable Mindset. The podcast where inclusion, diversity and the unexpected meet. Hi, I'm Michael Hingson, Chief Vision Officer for accessiBe and the author of the number one New York Times bestselling book, Thunder dog, the story of a blind man, his guide dog and the triumph of trust. Thanks for joining me on my podcast as we explore our own blinding fears of inclusion unacceptance and our resistance to change. We will discover the idea that no matter the situation, or the people we encounter, our own fears, and prejudices often are our strongest barriers to moving forward. The unstoppable mindset podcast is sponsored by accessiBe, that's a c c e s s i capital B e. Visit www.accessibe.com to learn how you can make your website accessible for persons with disabilities. And to help make the internet fully inclusive by the year 2025. Glad you dropped by we're happy to meet you and to have you here with us.   Michael Hingson ** 01:16 Hi everyone, and welcome to unstoppable mindset. Today we are going to definitely have some fun. I'll tell you about our guests in a moment, but first, I want to tell you about me. That'll take an hour or so. I am Michael Hingson, your host, and you're listening to unstoppable mindset where inclusion, diversity and the unexpected meet. And I don't know, we may get inclusion or diversity into this, but our guest is Greg Schwem. Greg used to be a TV reporter, now he's a comedian, not sure which is funnier, but given some of the reporters I've seen on TV, they really should go into tonight club business. But anyway, Greg, I want to welcome you to unstoppable mindset. We're really glad you're here. I really appreciate you being here and taking the time   Greg Schwem ** 02:04 Well, Michael, it is an honor to be included on your show. I'm really looking forward to the next hour of conversation. I   Speaker 1 ** 02:10 told Greg a little while ago, one of my major life ambitions that I never got to do was to go to a Don Rickles concert and sit in the front row so that hopefully he would pick on me, so that I could say, Yeah, I saw you once on TV, and I haven't been able to see since. What do you think of that? You hockey puck, but I never got to do it. So very disappointed. But everybody has bucket list moments, everybody has, but they don't get around to I'm sorry. Yeah, I know. Well, the other one is, I love to pick on Mike Wallace. I did a radio show for six years opposite him in 60 minutes, and I always love to say that Wallace really had criminal tendencies, because he started out being an announcer in radio and he announced things like The Green Hornet and the Sky King and other shows where they had a lot of criminals. So I just figured he had to be associated with criminals somewhere in his life. Of course, everybody picked on him, and he had broad shoulders. And I again, I regret I never got to to meet him, which is sort of disappointing. But I did get to meet Peter Falk. That was kind of fun.   Greg Schwem ** 03:15 Mike Wallace to Peter Falk. Nice transition there. I know.   Michael Hingson ** 03:21 Well I am really glad you're with us. So why don't we start? We'll start with the serious part. Why don't you tell us, kind of about the early Greg schwim and growing up and all that sort of stuff, just to set the stage, as it were,   Greg Schwem ** 03:34 how far back you want to go? You want to go back to Little League, or you want to   Speaker 1 ** 03:37 just, oh, start at the beginning, a long time ago, right? I was a   Greg Schwem ** 03:41 very strange child. No, I you. You obviously introduced me as a as a comedian, and that is my full time job. And you also said that I was a former journalist, and that is my professional career. Yes, I went from, as I always like to say, I went from depressing people all day long, to making them laugh. And that's, that's kind of what I did. I always did want to be I majored in Journalism at Northwestern University, good journalism school. Originally, I always wanted to be a television reporter. That was as a professional career I was, I dabbled in comedy. Started when I was 16. That is the first time I ever got on stage at my school, my high school, and then at a comedy club. I was there one of the first comedy clubs in Chicago, a place called the comedy cottage. It was in the suburb of beautiful, beautiful suburb of Rosemont, Illinois, and they were one of the very, very first full time comedy clubs in the nation. And as a 16 year old kid, I actually got on stage and did five minutes here and five minutes there. And thought I was, I was hot stuff, but I never, ever thought I would do it for a living. I thought comedy would always be just a hobby. And I. Especially when I went to college, and I thought, okay, Northwestern is pretty good school, pretty expensive school. I should actually use my degree. And I did. I moved down to Florida, wrote for a newspaper called The Palm Beach post, which, don't let that title fool you. It's Palm Beach was a very small segment of of the area that it was, that it served, but I did comedy on the side, and just because I moved down there, I didn't know anybody, so I hung out at comedy clubs just to have something to do. And little by little, comedy in the late 80s, it exploded. Exploded. There were suddenly clubs popping up everywhere, and you were starting to get to know guys that were doing these clubs and were starting to get recognition for just being comedians. And one of them opened up a very, very good Club opened up about 10 minutes from my apartment in West Palm Beach, and I hung out there and started to get more stage time, and eventually started to realize at the same time that I was getting better as a comedian, I was becoming more disillusioned as a journalist in terms of what my bosses wanted me to report on and the tone they wanted me to use. And I just decided that I would I would just never be able to live with myself if I didn't try it, if I didn't take the the plunge into comedy, and that's what I did in 1989 and I've been doing it ever since. And my career has gone in multiple directions, as I think it needs to. If you're going to be in show business and sustain a career in show business, you have to wear a lot of different hats, which I feel like I've done.   Michael Hingson ** 06:40 So tell me more about that. What does that mean exactly?   Greg Schwem ** 06:43 Well, I mean, I started out as a what you would pretty much if somebody said, If you heard somebody say, I'm a comedian, they would envision some guy that just went to comedy clubs all the time, and that's what I did. I was just a guy that traveled by car all over the Midwest and the Southeast primarily, and did comedy clubs, but I quickly realized that was kind of a going nowhere way to attack it, to do comedy unless you were incredibly lucky, because there were so many guys doing it and so many clubs, and I just didn't see a future in it, and I felt like I had to separate myself from the pack a little bit. And I was living in Chicago, which is where I'm from, and still, still exist. Still reside in Chicago, and I started to get involved with a company that did live trade show presentations. So if you've ever been on a trade show floor and you see people, they're mostly actors and actresses that wear a headset and deliver a spiel, a pitch, like every, every twice an hour, about some company, some new product, and so forth. And I did that, and I started to write material about what I was seeing on trade show floors and putting it into my stand up act, stuff about business, stuff about technology, because I was Hawking a lot of new computers and things like that. This was the mid 90s when technology was exploding, and I started to put this into my stand up act. And then I'd have people come up to me afterwards and say, hey, you know those jokes you did about computers and tech support, if you could come down to our office, you know, we're having a golf tournament, we're having a Christmas party, we would love to hear that material. And little by little, I started transitioning my act into doing shows for the corporate market. I hooked up with a corporate agent, or the corporate agent heard about me, and started to open a lot of doors for me in terms of working for very large corporations, and that's pretty much what I've been doing. I stopped working clubs, and I transitioned, instead of being a comedian, I became a corporate humor speaker. And that's what I do, primarily to this day, is to speak at business conferences. Just kind of get people to loosen up, get them to laugh about what they do all day without without making it sound like I'm belittling what they do. And also when I'm not doing that, I work about eight to 10 weeks a year on cruise ships, performing for cruise audiences. So that's a nice getaway.   Speaker 1 ** 09:18 It's interesting since I mentioned Don Rickles earlier, years ago, I saw an interview that he did with Donahue, and one of the things that Don Rickles said, and after he said it, I thought about it. He said, I really don't want to pick on anyone who's going to be offended by me picking on them. He said, I try to watch really carefully, so that if it looks like somebody's getting offended, I'll leave them alone, because that's not what this is all about. It isn't about abusing people. It's about trying to get people to have fun, and if somebody's offended, I don't want to to pick on them, and I've heard a number of albums and other things with him and just. Noticed that that was really true. He wouldn't pick on someone unless they could take it and had a lot of fun with it. And I thought that was absolutely interesting, because that certainly wasn't, of course, the rep that he had and no, but it was   Greg Schwem ** 10:16 true. It is, and it doesn't take long to see as a as a comedian, when you're looking at an audience member and you're talking to them, it, you can tell very quickly, Are they enjoying this? Are they enjoying being the center of attention? A lot of people are, or are they uncomfortable with it? Now, I don't know that going in. I mean, I you know, of course. And again, that's a very small portion of my show is to talk to the audience, but it is something particularly today. I think audiences want to be more involved. I think they enjoy you talk you. Some of these, the new comedians in their 20s and 30s and so forth. Them, some of them are doing nothing, but what they call crowd work. So they're just doing 45 minutes of talking to the audience, which can be good and can be rough too, because you're working without a net. But I'm happy to give an audience a little bit of that. But I also have a lot of stuff that I want to say too. I mean, I work very hard coming up with material and and refining it, and I want to talk about what's going on in my life, too. So I don't want the audience to be the entire show, right?   Speaker 1 ** 11:26 And and they shouldn't be, because it isn't about that. But at the same time, it is nice to involve them. I find that as a keynote and public speaker, I find that true as well, though, is that audiences do like to be involved. And I do some things right at the outset of most talks to involve people, and also in involving them. I want to get them to last so that I start to draw them in, because later, when I tell the September 11 story, which isn't really a humorous thing. Directly,   Greg Schwem ** 12:04 i know i Good luck. I'm spinning 911 to make it I don't think I've ever heard anybody say, by the way, I was trapped in a building. Stick with me. It's kind of cute. It's got a funny ending. And   Speaker 1 ** 12:20 that's right, and it is hard I can, I can say humorous things along the way in telling the story, but, sure, right, but, but clearly it's not a story that, in of itself, is humorous. But what I realized over the years, and it's really dawned on me in the last four or five years is we now have a whole generation of people who have absolutely no memory of September 11 because they were children or they weren't even born yet. And I believe that my job is to not only talk about it, but literally to draw them into the building and have them walk down the stairs with me, and I have to be descriptive in a very positive way, so that they really are part of what's going on. And the reality is that I do hear people or people come up and say, we were with you when you were going down the stairs. And I think that's my job, because the reality is that we've got to get people to understand there are lessons to be learned from September 11, right? And the only real way to do that is to attract the audience and bring them in. And I think probably mostly, I'm in a better position to do that than most people, because I'm kind of a curious soul, being blind and all that, but it allows me to to draw them in and and it's fun to do that, actually. And I, and   Greg Schwem ** 13:52 I gotta believe, I mean, obviously I wasn't there, Michael, but I gotta believe there were moments of humor in people, a bunch of people going down the stairs. Sure, me, you put people get it's like, it's like when a bunch of people are in an elevator together, you know, I mean, there's I, when I look around and I try to find something humorous in a crowded and it's probably the same thing now, obviously it, you know, you got out in time. But I and, you know, don't that's the hotel phone, which I just hung up so but I think that I can totally see where you're going from, where, if you're if you're talking to people who have no recollection of this, have no memory where you're basically educating them on the whole event. I think you then you have the opportunity to tell the story in whatever way you see fit. And I think that however you choose to do it is there's no wrong way to do it, I guess is what I'm trying to get at.   Speaker 1 ** 14:55 Well, yeah, I think the wrong way is to be two. Graphic and morbid and morbid, but one of the things that I talk about, for example, is that a colleague of mine who was with me, David Frank, at about the 50th floor, suddenly said, Mike, we're going to die. We're not going to make it out of here. And as as I tell the audience, typically, I as as you heard my introduction at the beginning, I have a secondary teaching credential. And one of the things that you probably don't know about teachers is that there's a secret course that every teacher takes called Voice 101, how to yell at students and and so what I tell people is that when David said that, I just said in my best teacher voice, stop it, David, if Roselle and I can go down these stairs, so can you. And he told me later that that brought him out of his funk, and he ended up walking a floor below me and shouting up to me everything he saw. And it was just mainly, everything is clear, like I'm on floor 48 he's on 47/47 floor. Everything is good here, and what I have done for the past several years in telling that part of the story is to say David, in reality, probably did more to keep people calm and focused as we went down the stairs than anyone else, because anyone within the sound of his voice heard someone who was focused and sounded okay. You know, hey, I'm on the 44th floor. This is where the Port Authority cafeteria is not stopping. And it it helps people understand that we all had to do what we could to keep everyone from not panicking. And it almost happened a few times that people did, but we worked at it. But the i The idea is that it helps draw people in, and I think that's so important to do for my particular story is to draw them in and have them walk down the stairs with me, which is what I do, absolutely, yeah, yeah. Now I'm curious about something that keeps coming up. I hear it every so often, public speaker, Speaker experts and people who are supposedly the great gurus of public speaking say you shouldn't really start out with a joke. And I've heard that so often, and I'm going give me a break. Well, I think, I think it depends, yeah, I think   Greg Schwem ** 17:33 there's two schools of thought to that. I think if you're going to start out with a joke, it better be a really good one, or something that you either has been battle tested, because if it doesn't work now, you, you know, if you're hoping for a big laugh, now you're saying, Well, you're a comedian, what do you do? You know, I mean, I, I even, I just sort of work my way into it a little bit. Yeah, and I'm a comedian, so, and, you know, it's funny, Michael, I will get, I will get. I've had CEOs before say to me, Hey, you know, I've got to give this presentation next week. Give me a joke I can tell to everybody. And I always decline. I always it's like, I don't need that kind of pressure. And it's like, I can, I can, I can tell you a funny joke, but,   Michael Hingson ** 18:22 but you telling the   Greg Schwem ** 18:23 work? Yeah, deliver it. You know, I can't deliver it for you. Yeah? And I think that's what I also, you know, on that note, I've never been a big fan of Stand Up Comedy classes, and you see them all popping up all over the place. Now, a lot of comedy clubs will have them, and usually the you take the class, and the carrot at the end is you get to do five minutes at a comedy club right now, if that is your goal, if you're somebody who always like, Gosh, I wonder what it would like be like to stand up on stage and and be a comedian for five minutes. That's something I really like to try. By all means, take the class, all right. But if you think that you're going to take this class and you're going to emerge a much funnier person, like all of a sudden you you weren't funny, but now you are, don't take the class, yeah? And I think, sadly, I think that a lot of people sign up for these classes thinking the latter, thinking that they will all of a sudden become, you know, a comedian. And it doesn't work that way. I'm sorry you cannot teach unfunny people to be funny. Yeah, some of us have the gift of it, and some of us don't. Some of us are really good with our hands, and just know how to build stuff and how to look at things and say, I can do that. And some of us, myself included, definitely do not. You know, I think you can teach people to be more comfortable, more comfortable in front of an audience and. Correct. I think that is definitely a teachable thing, but I don't think that you can teach people to be funnier   Speaker 1 ** 20:10 and funnier, and I agree with that. I tend to be amazed when I keep hearing that one of the top fears in our world is getting up in front of an audience and talking with them, because people really don't understand that audiences, whatever you're doing, want you to succeed, and they're not against you, but we have just conditioned ourselves collectively that speaking is something to be afraid of?   Greg Schwem ** 20:41 Yes, I think, though it's, I'm sure, that fear, though, of getting up in front of people has only probably been exacerbated and been made more intense because now everybody in the audience has a cell phone and to and to be looking out at people and to see them on their phones. Yeah, you're and yet, you prepped all day long. You've been nervous. You've been you probably didn't sleep the night before. If you're one of these people who are afraid of speaking in public, yeah, and then to see people on their phones. You know, it used to bother me. It doesn't anymore, because it's just the society we live in. I just, I wish, I wish people could put their phones down and just enjoy laughing for 45 minutes. But unfortunately, our society can't do that anymore, so I just hope that I can get most of them to stop looking at it.   Speaker 1 ** 21:32 I don't make any comments about it at the beginning, but I have, on a number of occasions, been delivering a speech, and I hear a cell phone ring, and I'll stop and go, Hello. And I don't know for sure what the person with the cell phone does, but by the same token, you know they really shouldn't be on their phone and and it works out, okay, nobody's ever complained about it. And when I just say hello, or I'll go Hello, you don't say, you know, and things like that, but, but I don't, I don't prolong it. I'll just go back to what I was talking about. But I remember, when I lived in New Jersey, Sandy Duncan was Peter Pan in New York. One night she was flying over the audience, and there was somebody on his cell phone, and she happened to be going near him, and she just kicked the phone out of his hand. And I think that's one of the things that started Broadway in saying, if you have a cell phone, turn it off. And those are the announcements that you hear at the beginning of any Broadway performance today.   Greg Schwem ** 22:39 Unfortunately, people don't abide by that. I know you're still hearing cell phones go off, yeah, you know, in Broadway productions at the opera or wherever, so people just can't and there you go. There that just shows you're fighting a losing battle.   Speaker 1 ** 22:53 Yeah, it's just one of those things, and you got to cope with it.   Greg Schwem ** 22:58 What on that note, though, there was, I will say, if I can interrupt real quick, there was one show I did where nobody had their phone. It was a few years ago. I spoke at the CIA. I spoke for some employees of the CIA. And this might, this might freak people out, because you think, how is it that America's covert intelligence agency, you think they would be on their phones all the time. No, if you work there, you cannot have your phone on you. And so I had an audience of about 300 people who I had their total attention because there was no other way to they had no choice but to listen to me, and it was wonderful. It was just a great show, and I it was just so refreshing. Yeah,   Speaker 1 ** 23:52 and mostly I don't hear cell phones, but they do come up from time to time. And if they do, then you know it happens. Now my one of my favorite stories is I once spoke in Maryland at the Department of Defense, which anybody who knows anything knows that's the National Security Agency, but they call it the Department of Defense, as if we don't know. And my favorite story is that I had, at the time, a micro cassette recorder, and it died that morning before I traveled to Fort Meade, and I forgot to just throw it away, and it was in my briefcase. So I got to the fort, they searched, apparently, didn't find it, but on the way out, someone found it. They had to get a bird Colonel to come to decide what to do with it. I said, throw it away. And they said, No, we can't do that. It's yours. And they they decided it didn't work, and they let me take it and I threw it away. But it was so, so funny to to be at the fort and see everybody running around crazy. See, what do we do with this micro cassette recorder? This guy's been here for an hour. Yeah. So it's it. You know, all sorts of things happen. What do you think about you know, there's a lot of discussion about comedians who use a lot of foul language in their shows, and then there are those who don't, and people seem to like the shock value of that.   Greg Schwem ** 25:25 Yeah, I'm very old school in that. I guess my short answer is, No, I've never, ever been one of those comedians. Ever I do a clean show, I actually learned my lesson very early on. I think I think that I think comedians tend to swear because when they first start out, out of nerves, because I will tell you that profanity does get laughter. And I've always said, if you want to, if you want to experiment on that, have a comedian write a joke, and let's say he's got two shows that night. Let's say he's got an eight o'clock show and a 10 o'clock show. So let's say he does the joke in the eight o'clock and it's, you know, the cadence is bumper, bump up, bump up, bump up, punch line. Okay, now let's and let's see how that plays. Now let's now he does the 10 o'clock show and it's bumper, bump up, bump up F and Okay, yeah, I pretty much guarantee you the 10 o'clock show will get a bigger laugh. Okay? Because he's sort of, it's like the audience is programmed like, oh, okay, we're supposed to laugh at that now. And I think a lot of comedians think, Aha, I have just discovered how to be successful as a comedian. I will just insert the F word in front of every punch line, and you can kind of tell what comedians do that and what comedians I mean. I am fine with foul language, but have some jokes in there too. Don't make them. Don't make the foul word, the joke, the joke, right? And I can say another thing nobody has ever said to me, I cannot hire you because you're too clean. I've never gotten that. And all the years I've been doing this, and I know there's lots of comedians who who do work blue, who have said, you know, who have been turned down for that very reason. So I believe, if you're a comedian, the only way to get better is to work any place that will have you. Yeah, and you can't, so you might as well work clean so you can work any place that will have you, as opposed to being turned away.   Speaker 1 ** 27:30 Well, and I, and I know what, what happened to him and all that, but at the same time, I grew up listening to Bill Cosby and the fact that he was always clean. And, yeah, I understand everything that happened, but you can't deny and you can't forget so many years of humor and all the things that that he brought to the world, and the joy he brought to the world in so many ways.   Greg Schwem ** 27:57 Oh, yeah, no, I agree. I agree. And he Yeah, he worked everywhere. Jay Leno is another one. I mean, Jay Leno is kind of on the same wavelength as me, as far as don't let the profanity become the joke. You know, Eddie Murphy was, you know, was very foul. Richard Pryor, extremely foul. I but they also, prior, especially, had very intelligent material. I mean, you can tell and then if you want to insert your F bombs and so forth, that's fine, but at least show me that you're trying. At least show me that you came in with material in addition to the   Speaker 1 ** 28:36 foul language. The only thing I really have to say about all that is it? Jay Leno should just stay away from cars, but that's another story.   Greg Schwem ** 28:43 Oh, yeah, it's starting to   Greg Schwem ** 28:47 look that way. Yeah, it   Michael Hingson ** 28:49 was. It was fun for a while, Jay, but yeah, there's just two. It's like, Harrison Ford and plains. Yeah, same concept. At some point you're like, this isn't working out. Now I submit that living here in Victorville and just being out on the streets and being driven around and all that, I am firmly convinced, given the way most people drive here, that the bigoted DMV should let me have a license, because I am sure I can drive as well as most of the clowns around here. Yeah, so when they drive, I have no doubt. Oh, gosh. Well, you know, you switched from being a TV journalist and so on to to comedy. Was it a hard choice? Was it really difficult to do, or did it just seem like this is the time and this is the right thing to do. I was   Greg Schwem ** 29:41 both, you know, it was hard, because I really did enjoy my job and I liked, I liked being a TV news reporter. I liked, I liked a job that was different every day once you got in there, because you didn't know what they were going to send you out to do. Yes, you had. To get up and go to work every day and so forth. So there's a little bit of, you know, there's a little bit of the mundane, just like there is in any job, but once you were there, I liked, just never known what the day would bring, right? And and I, I think if I'd stayed with it, I think I think I could have gone pretty far, particularly now, because the now it's more people on TV are becoming more entertainers news people are becoming, yeah, they are. A lot of would be, want to be comedians and so forth. And I don't particularly think that's appropriate, but I agree. But so it was hard to leave, but it gets back to what I said earlier. At some point, you got to say, I was seeing comedians making money, and I was thinking, gosh, you know, if they're making money at this I I'm not hilarious, but I know I'm funnier than that guy. Yeah, I'm funnier than her, so why not? And I was young, and I was single, and I thought, if I if I don't try it now, I never will. And, and I'll bet there's just some hilarious people out there, yeah, who who didn't ever, who just were afraid   Michael Hingson ** 31:14 to take that chance, and they wouldn't take the leap, yeah,   Greg Schwem ** 31:16 right. And now they're probably kicking themselves, and I'm sure maybe they're very successful at what they do, but they're always going to say, what if, if I only done this? I don't ever, I don't, ever, I never, ever wanted to say that. Yeah,   Speaker 1 ** 31:31 well, and there's, there's something to be said for being brave and stepping out and doing something that you don't expect, or that you didn't expect, or that you weren't sure how it was going to go, but if you don't try, then you're never going to know just how, how much you could really accomplish and how much you can really do. And I think that the creative people, whatever they're being creative about, are the people who do step out and are willing to take a chance.   Greg Schwem ** 31:59 Yeah, yeah. And I told my kids that too. You know, it's just like, if it's something that you're passionate about, do it. Just try it. If it doesn't work out, then at least you can say I tried   Speaker 1 ** 32:09 it and and if it doesn't work out, then you can decide, what do I need to do to figure out why it didn't work out, or is it just not me? I want   Greg Schwem ** 32:18 to keep going? Yeah. Yeah. Yeah.   Speaker 1 ** 32:21 So what is the difference between being a nightclub comedian and a corporate comedian? Because they are somewhat different. I think I know the answer. But what would you say that the differences between them? I think   Greg Schwem ** 32:33 the biggest thing is the audiences. I think when you when you are a nightclub comedian, you are working in front of people who are there to be entertained. Yeah, they, they paid money for that. That's what they're expecting. They, they, at some point during the day, they said, Hey, let's, let's go laugh tonight. That's what we really want to do when you're working in front of a corporate audiences. That's not necessarily the case. They are there. I primarily do business conferences and, you know, association meetings and so forth. And I'm just one cog in the wheel of a whole day's worth of meetings are, for the most part, very dry and boring, maybe certainly necessary educational. They're learning how to do their job better or something. And then you have a guy like me come in, and people aren't always ready to laugh, yeah, despite the fact that they probably need to, but they just they're not always in that mindset. And also the time of day. I mean, I do a lot of shows at nine in the morning. I do shows after lunch, right before lunch. I actually do very few shows in the evening, believe it or not. And so then you you have to, you kind of have to, in the while you're doing your act or your presentation or your speech, as I call it, you kind of have to let them know that it is okay. What you're doing is okay, and they should be okay with laughing. They shouldn't be looking around the whole time wondering if other people are laughing. You know, can I, can I? Can I tell you a quick story about how I drive that point home. Why not? Yeah, it's, I'll condense it into like five minutes. I mentioned that I worked on that I work on cruise ships occasionally, and I one night I was performing, and it was the first night of the cruise. And if anybody's ever been on a cruise, note, the first night, first night entertainers don't like the first night because people are tired. You know, they're they're a little edgy because they've been traveling all day. They're they're confused because they're not really sure where they're going on a ship. And the ones that have got it figured out usually over serve themselves because they're on vacation. So you put all that, so I'm doing my show on the first. Night, and it's going very well. And about five, six minutes in, I do a joke. Everybody laughs. Everybody shuts up. And from the back of the room in total darkness, I hear hat just like that. And I'm like, All right, you know, probably over served. So the rule of comedy is that everybody gets like. I was like, I'll let it go once, yeah. So I just kind of looked off in that direction, didn't say anything. Kept going with my active going with my act. About 10 minutes later, same thing happens. I tell a joke. Everybody laughs. Everybody shuts up. Hat now I'm like, Okay, I have got to, I've got to address the elephant in the room. So I think I just made some comment, like, you know, I didn't know Roseanne Barr was on this cruise, you know, because that was like the sound of the Yeah. Okay, everybody laugh. Nothing happened about five minutes later. It happens a third time. And now I'm just like, this is gonna stop. I'm going to put a stop to this. And I just fired off. I can't remember, like, three just like, hey man, you know you're you're just a little behind everybody else in this show and probably in life too, that, you know, things like that, and it never happened again. So I'm like, okay, mission accomplished on my part. Comedians love it when we can shut up somebody like that. Anyway. Show's over, I am out doing a meet and greet. Some guy comes up to me and he goes, hey, hey, you know that kid you were making fun of is mentally handicapped. And now, of course, I don't know this, but out of the corner of my eye, I see from the other exit a man pushing a son, his son in a wheelchair out of the showroom. And I'm just like, Oh, what have I done? And yeah. And of course, when you're on a cruise, you're you're on a cruise. When you're a cruise ship entertainer, you have to live with your audience. So I couldn't hide. I spent like the next three days, and it seemed like wherever I was, the man and his son in the wheelchair were nearby. And finally, on the fourth day, I think was, I was waiting for an elevator. Again, 3500 people on this ship, okay, I'm waiting for an elevator. The elevator door opens. Guess who are the only two people the elevator, the man and his son. And I can't really say I'll wait for the next one. So I get on, and I said to this the father, I said, I just want you to know I had no idea. You know, I'm so sorry. I can't see back there, this kind of thing. And the dad looks at me. He puts his hand up to stop me, and he points to me, and he goes, I thought you were hysterical. And it was, not only was it relief, but it kind of, it's sort of a lesson that if you think something is funny, you should laugh at it. Yeah. And I think sometimes in corporate America, my point in this. I think sometimes when you do these corporate shows, I think that audience members forget that. I think very busy looking around to see if their immediate boss thinks it's funny, and eventually everybody's looking at the CEO to see if they're like, you know, I think if you're doing it that way, if that's the way you're you're approaching humor. You're doing yourself a disservice, if right, stopping yourself from laughing at something that you think is funny.   Speaker 1 ** 38:09 I do think that that all too often the problem with meetings is that we as a as a country, we in corporations, don't do meetings, right anyway, for example, early on, I heard someone at a convention of the National Federation of the Blind say he was the new executive director of the American Foundation for the Blind, and he said, I have instituted a policy, no Braille, no meetings. And what that was all about was to say, if you're going to have a meeting, you need to make sure that all the documentation is accessible to those who aren't going to read the print. I take it further and say you shouldn't be giving out documentation during the meeting. And you can use the excuse, well, I got to get the latest numbers and all that. And my point is, you shouldn't be giving out documentation at a meeting, because the meeting is for people to communicate and interact with each other. And if you're giving out papers and so on, what are people going to do? They're going to read that, and they're not going to listen to the speakers. They're not going to listen to the other people. And we do so many things like that, we've gotten into a habit of doing things that become so predictable, but also make meetings very boring, because who wants to look at the papers where you can be listening to people who have a lot more constructive and interesting things to say anyway?   Greg Schwem ** 39:36 Yeah, yeah. I think, I think COVID definitely changed, some for the some for the better and some for the worse. I think that a lot of things that were done at meetings COVID and made us realize a lot of that stuff could be done virtually, that you didn't have to just have everybody sit and listen to people over and over and over again.   Speaker 1 ** 39:58 But unless you're Donald Trump. Up. Yeah, that's another story.   Greg Schwem ** 40:02 Yes, exactly another podcast episode. But, yeah, I do think also that. I think COVID changed audiences. I think, you know, we talked a little bit earlier about crowd work, right, and audiences wanting to be more involved. I think COVID precipitated that, because, if you think about it, Michael, for two and a half years during COVID, our sole source of entertainment was our phone, right? Which meant that we were in charge of the entertainment experience. You don't like something, swipe left, scroll down, scroll, scroll, scroll, find something else. You know, that kind of thing. I'm not I'm not entertained in the next four or five seconds. So I'm going to do this. And I think when live entertainment returned, audiences kind of had to be retrained a little bit, where they had to learn to sit and listen and wait for the entertainment to come to them. And granted, it might not happen immediately. It might not happen in the first five seconds, but you have to just give give people like me a chance. It will come to you. It will happen, but it might not be on your timetable,   Speaker 1 ** 41:13 right? Well, and I think that is all too true for me. I didn't find didn't find COVID to be a great inconvenience, because I don't look at the screen anyway, right? So in a sense, for me, COVID wasn't that much of a change, other than not being in an office or not being physically at a meeting, and so I was listening to the meeting on the computer, and that has its nuances. Like you don't necessarily get the same information about how everyone around you is reacting, but, but it didn't bother me, I think, nearly as much as it did everyone else who has to look at everyone. Of course, I have no problems picking on all those people as well, because what I point out is that that disabilities has to be redefined, because every one of you guys has your own disability. You're light dependent, and you don't do well when there's dark, when, when the dark shows up and and we now have an environment where Thomas Edison invented the electric light bulb, and we've spent the last 147 years doing everything we can to make sure that light is pretty ubiquitous, but it doesn't change a thing when suddenly the power goes out and you don't have immediate access to light. So that's as much a disability as us light, independent people who don't   Greg Schwem ** 42:36 care about that, right? Right? I hear, I agree, but it is but   Speaker 1 ** 42:41 it is interesting and and it is also important that we all understand each other and are willing to tolerate the fact that there are differences in people, and we need to recognize that with whatever we're doing.   42:53 Yeah, I agree.   Speaker 1 ** 42:57 What do you think about so today, we have obviously a really fractured environment and fractured country, and everyone's got their own opinions, and nobody wants to talk about anything, especially politics wise. How do you think that's all affecting comedy and what you get to do and what other people are doing?   Greg Schwem ** 43:18 Well, I think Pete, I think there's, there's multiple answers to that question too. I think, I think it makes people nervous, wondering what the minute a comedian on stage brings up politics, the minute he starts talking about a politician, whether it's our president, whether it's somebody else, you can sense a tension in the room a little bit, and it's, it's, I mean, it's funny. I, one of my best friends in comedy, got to open for another comedian at Carnegie Hall a couple of years ago, and I went to see him, and I'm sitting way up in the top, and he is just crushing it. And then at one point he he brought up, he decided to do an impression of Mitch McConnell, which he does very well. However, the minute he said, Mitch McConnell, I you could just sense this is Carnegie freaking Hall, and after the show, you know, he and I always like to dissect each other's shows. That's what comedians do. And I just said to him, I go. Why did you decide to insert Mitch McConnell in there? And I, and I didn't say it like, you moron, that was stupid, yeah, but I was genuinely curious. And he just goes, well, I just really like doing that bit, and I like doing that voice and so forth, but, and it's not like the show crashed and burned afterwards. No, he did the joke, and then he got out of it, and he went on to other stuff, and it was fine, but I think that people are just so on their guard now, yeah, and, and that's why, you know, you know Jay Leno always said he was an equal opportunity offender. I think you will do better with politics if you really want. Insert politics into your act. I think he would be better making fun of both sides. Yeah, it's true. Yeah. And I think too often comedians now use the the stage as kind of a Bully, bully pulpit, like I have microphone and you don't. I am now going to give you my take on Donald Trump or the Democrats or whatever, and I've always said, talk about anything you want on stage, but just remember, you're at a comedy club. People came to laugh. So is there a joke in here? Yeah, or are you just ranting because you gotta be careful. You have to get this off your chest, and your way is right. It's, it's, you know, I hate to say it, but that's, that's why podcast, no offense, Michael, yours, is not like this. But I think one of the reasons podcasters have gotten so popular is a lot of people, just a lot of podcast hosts see a podcast is a chance to just rant about whatever's on their mind. And it's amazing to me how many podcast hosts that are hosted by comedians have a second guy have a sidekick to basically laugh and agree with whatever that person says. I think Joe Rogan is a classic example, and he's one of the most popular ones. But, and I don't quite understand that, because you know, if you're a comedian, you you made the choice to work solo, right? So why do you need somebody else with you?   Speaker 1 ** 46:33 I'm I'm fairly close to Leno. My remark is a little bit different. I'm not so much an equal opportunity offender as I am an equal opportunity abuser. I'll pick on both sides if politics comes into it at all, and it's and it's fun, and I remember when George W Bush was leaving the White House, Letterman said, Now we're not going to have anybody to joke about anymore. And everyone loved it. But still, I recognize that in the world today, people don't want to hear anything else. Don't confuse me with the facts or any of that, and it's so unfortunate, but it is the way it is, and so it's wiser to stay away from a lot of that, unless you can really break through the barrier,   Greg Schwem ** 47:21 I think so. And I also think that people, one thing you have to remember, I think, is when people come to a comedy show, they are coming to be entertained. Yeah, they are coming to kind of escape from the gloom and doom that unfortunately permeates our world right now. You know? I mean, I've always said that if you, if you walked up to a comedy club on a Saturday night, and let's say there were 50 people waiting outside, waiting to get in, and you asked all 50 of them, what do you hope happens tonight? Or or, Why are you here? All right, I think from all 50 you would get I would just like to laugh, yeah, I don't think one of them is going to say, you know, I really hope that my opinions on what's happening in the Middle East get challenged right now, but he's a comedian. No one is going to say that. No, no. It's like, I hope I get into it with the comedian on stage, because he thinks this way about a woman's right to choose, and I think the other way. And I really, really hope that he and I will get into an argument about to the middle of the   Speaker 1 ** 48:37 show. Yeah, yeah. That's not why people come?   Greg Schwem ** 48:40 No, it's not. And I, unfortunately, I think again, I think that there's a lot of comedians that don't understand that. Yeah, again, talk about whatever you want on stage, but just remember that your your surroundings, you if you build yourself as a comedian,   48:56 make it funny. Yeah, be funny.   Speaker 1 ** 49:00 Well, and nowadays, especially for for you, for me and so on, we're we're growing older and and I think you point out audiences are getting younger. How do you deal with that?   Greg Schwem ** 49:12 Well, what I try to do is I a couple of things. I try to talk as much as I can about topics that are relevant to a younger generation. Ai being one, I, one of the things I do in my my show is I say, oh, you know, I I really wasn't sure how to start off. And when you're confused these days, you you turn to answer your questions. You turn to chat GPT, and I've actually written, you know, said to chat GPT, you know, I'm doing a show tonight for a group of construction workers who work in the Midwest. It's a $350 million company, and it says, try to be very specific. Give me a funny opening line. And of course, chat GPT always comes up with some. Something kind of stupid, which I then relate to the audience, and they love that, you know, they love that concept. So I think there's, obviously, there's a lot of material that you can do on generational differences, but I, I will say I am very, very aware that my audience is, for the most part, younger than me now, unless I want to spend the rest of my career doing you know, over 55 communities, not that they're not great laughers, but I also think there's a real challenge in being older than your audience and still being able to make them laugh. But I think you have to remember, like you said, there's there's people now that don't remember 911 that have no concept of it, yeah, so don't be doing references from, say, the 1980s or the early 1990s and then come off stage and go, Man, nobody that didn't hit at all. No one, no one. They're stupid. They don't get it. Well, no, they, they, it sounds they don't get it. It's just that they weren't around. They weren't around, right? So that's on you.   Speaker 1 ** 51:01 One of the things that you know people ask me is if I will do virtual events, and I'll do virtual events, but I also tell people, the reason I prefer to do in person events is that I can sense what the audience is doing, how they're reacting and what they feel. If I'm in a room speaking to people, and I don't have that same sense if I'm doing something virtually, agreed same way. Now for me, at the same time, I've been doing this now for 23 years, so I have a pretty good idea in general, how to interact with an audience, to draw them in, even in a virtual environment, but I still tend to be a little bit more careful about it, and it's just kind of the way it is, you know, and you and you learn to deal with it well for you, have you ever had writer's block, and how did you deal with it?   Greg Schwem ** 51:57 Yes, I have had writer's block. I don't I can't think of a single comedian who's never had writer's block, and if they say they haven't, I think they're lying when I have writer's block, the best way for me to deal with this and just so you know, I'm not the kind of comedian that can go that can sit down and write jokes. I can write stories. I've written three books, but I can't sit down and just be funny for an hour all by myself. I need interaction. I need communication. And I think when I have writer's block, I tend to go out and try and meet strangers and can engage them in conversation and find out what's going on with them. I mean, you mentioned about dealing with the younger audience. I am a big believer right now in talking to people who are half my age. I like doing that in social settings, because I just, I'm curious. I'm curious as to how they think. I'm curious as to, you know, how they spend money, how they save money, how what their hopes and dreams are for the future, what that kind of thing, and that's the kind of stuff that then I'll take back and try and write material about. And I think that, I think it's fun for me, and it's really fun to meet somebody who I'll give you a great example just last night. Last night, I was I there's a there's a bar that I have that's about 10 a stone's throw from my condo, and I love to stop in there and and every now and then, sometimes I'll sit there and I won't meet anybody, and sometimes different. So there was a guy, I'd say he's probably in his early 30s, sitting too over, and he was reading, which I find intriguing, that people come to a bar and read, yeah, people do it, I mean. And I just said to him, I go, and he was getting ready to pay his bill, and I just said, if you don't mind me asking, What are you reading? And he's like, Oh, it's by Ezra Klein. And I go, you know, I've listened to Ezra Klein before. And he goes, Yeah, you know? He says, I'm a big fan. And debt to debt to dad. Next thing, you know, we're just, we're just riffing back and forth. And I ended up staying. He put it this way, Michael, it took him a very long time to pay his bill because we had a conversation, and it was just such a pleasure to to people like that, and I think that, and it's a hard thing. It's a hard thing for me to do, because I think people are on their guard, a little bit like, why is this guy who's twice my age talking to me at a bar? That's that seems a little weird. And I would get that. I can see that. But as I mentioned in my latest book, I don't mean because I don't a whole chapter to this, and I I say in the book, I don't mean you any harm. I'm not trying to hit on you, or I'm not creepy old guy at the bar. I am genuinely interested in your story. And. In your life, and and I just, I want to be the least interesting guy in the room, and that's kind of how I go about my writing, too. Is just you, you drive the story. And even though I'm the comedian, I'll just fill in the gaps and make them funny.   Speaker 1 ** 55:15 Well, I know that I have often been invited to speak at places, and I wondered, What am I going to say to this particular audience? How am I going to deal with them? They're they're different than what I'm used to. What I found, I guess you could call that writer's block, but what I found is, if I can go early and interact with them, even if I'm the very first speaker, if I can interact with them beforehand, or if there are other people speaking before me, invariably, I will hear things that will allow me to be able to move on and give a relevant presentation specifically to that group, which is what it's really all about. And so I'm with you, and I appreciate it, and it's good to get to the point where you don't worry about the block, but rather you look at ways to move forward and interact with people and make it fun, right,   Greg Schwem ** 56:13 right? And I do think people, I think COVID, took that away from us a little bit, yeah, obviously, but I but, and I do think people missed that. I think that people, once you get them talking, are more inclined to not think that you're you have ulterior motives. I think people do enjoy putting their phones down a little bit, but it's, it's kind of a two way street when I, when I do meet people, if it's if it's only me asking the questions, eventually I'm going to get tired of that. Yeah, I think there's a, there has to be a reciprocity thing a little bit. And one thing I find is, is with the Gen Z's and maybe millennials. They're not, they're not as good at that as I think they could be. They're more they're they're happy to talk about themselves, but they're not really good at saying so what do you do for a living? Or what you know, tell me about you. And I mean, that's how you learn about other people. Yeah,   Speaker 1 ** 57:19 tell me about your your latest book, Turning gut punches into punchlines. That's a interesting title, yeah, well, the more   Greg Schwem ** 57:26 interesting is the subtitle. So it's turning gut punches into punch punch lines, A Comedian's journey through cancer, divorce and other hilarious stuff.   Speaker 1 ** 57:35 No, like you haven't done anything in the world. Okay, right? So   Greg Schwem ** 57:38 other than that, how was the play, Mrs. Lincoln. Yeah, exactly. See, now you get that reference. I don't know if I could use that on stage, but anyway, depend on your audience. But yeah, they're like, What's he talking   Speaker 1 ** 57:50 who's Lincoln? And I've been to Ford theater too, so that's okay, yes, as have I. So it was much later than, than, well, than Lincoln, but that's okay.   Greg Schwem ** 57:58 You're not that old, right? No. Well, okay, so as the title, as the title implies, I did have sort of a double, double gut punch, it just in the last two years. So I, I got divorced late in life, after 29 years of marriage. And while that was going on, I got a colon cancer diagnosis and and at this end, I was dealing with all this while also continuing work as a humor speaker, okay, as a comedian. And I just decided I got it. First of all, I got a very clean bill of health. I'm cancer free. I am finally divorced so and I, I started to think, I wonder if there's some humor in this. I I would, I would, you know, Michael, I've been on stage for like, 25 years telling people that, you know, you can find something funny to laugh at. You can find humor in any situation. It's kind of like what you're talking about all the people going down the stairs in the building in the world trade center. All right, if you look around enough, you know, maybe there's something funny, and I've been preaching that, but I never really had to live that until now. And I thought, you know, maybe there's something here. Maybe I can this is my chance now to embrace new experiences. It was kind of when I got divorced, when you've been married half your life and all of a sudden you get divorced, everything's new to you, yeah, you're, you're, you're living alone, you you're doing things that your spouse did, oh, so many years. And you're having to do those, and you're having to make new friends, yeah, and all of that, I think, is very humorous. So the more I saw a book in there that I started writing before the cancer diagnosis, and I thought was there enough here? Just like, okay, a guy at 60 years old gets divorced now what's going to happen to him? The diagnosis? Kind. Made it just added another wrinkle to the book, because now I have to deal with this, and I have to find another subject to to make light of a little bit. So the book is not a memoir, you know, I don't start it off. And, you know, when I was seven, you know, I played, you know, I was, I went to this school night. It's not that. It's more just about reinvention and just seeing that you can be happy later in life, even though you have to kind of rewrite your your story a little   Speaker 1 ** 1:00:33 bit. And I would assume, and I would assume, you bring some of that into your ACT every so   Greg Schwem ** 1:00:38 very much. So yeah, I created a whole new speech called Turning gut punches into punchlines. And I some of the stuff that I, that I did, but, you know, there's a chapter in the book about, I about gig work, actually three chapters I, you know, I went to work for Amazon during the Christmas holiday rush, just scanning packages. I wanted to see what that was like. I drove for Uber I which I did for a while. And to tell you the truth, I miss it. I ended up selling my car, but I miss it because of the what we just talked about. It was a great way to communicate with people. It was a great way to talk to people, find out about them, be the least interesting person in the car, anyway. And there's a chapter about dating and online dating, which I had not had to do in 30 years. There's a lot of humor in that. I went to therapy. I'd never gone to therapy before. I wrote a chapter about that. So I think people really respond to this book, because they I think they see a lot of themselves in it. You know, lots of people have been divorced. There's lots of cancer survivors out there, and there's lots of people who just suddenly have hit a speed bump in their life, and they're not really sure how to deal with it, right? And my way, this book is just about deal with it through laughter. And I'm the perfect example.   Speaker 1 ** 1:01:56 I hear you, Oh, I I know, and I've been through the same sort of thing as you not a divorce, but my wife and I were married for 40 years, and she passed away in November of 2022 after 40 years of marriage. And as I tell people, as I tell people, I got to be really careful, because she's monitoring me from somewhere, and if I misbehave, I'm going to hear about it, so I got to be a good kid, and I don't even chase the women so. But I also point out that none of them have been chasing me either, so I guess I just do what we got to do. But the reality is, I think there are always ways to find some sort of a connection with other people, and then, of course, that's what what you do. It's all about creating a connection, creating a relationship, even if it's only for a couple of hours or an hour or 45 minutes, but, but you do it, which is what it's all about?   Greg Schwem ** 1:02:49 Yeah, exactly. And I think the funniest stuff is real life experience. Oh, absolutely, you know. And if people can see themselves in in what I've written, then I've done my job as a writer.   Speaker 1 ** 1:03:03 So do you have any plans to retire?   Greg Schwem ** 1:03:06 Never. I mean, good for you retire from what   1:03:09 I know right, making fun of people   Greg Schwem ** 1:03:12 and making them laugh. I mean, I don't know what I would do with myself, and even if I there's always going to be I don't care how technology, technologically advanced our society gets. People will always want and need to laugh. Yeah, they're always going to want to do that. And if they're want, if they're wanting to do that, then I will find, I will find a way to get to them. And that's why I, as I said, That's why, like working on cruise ships has become, like a new, sort of a new avenue for me to make people laugh. And so, yeah, I don't I there's, there's no way. I don't know what else I would do with   Speaker 1 ** 1:03:53 myself, well and from my perspective, as long as I can inspire people, yes, I can make people think a little bit and feel better about themselves. I'm going to do it right. And, and, and I do. And I wrote a book during COVID that was published last August called Live like a guide dog. And it's all about helping people learn to control fear. And I use lessons I learned from eight guide dogs and my wife service dog to do that. My wife was in a wheelchair her whole life. Great marriage. She read, I pushed worked out well, but, but the but the but the bottom line is that dogs can teach us so many lessons, and there's so much that we can learn from them. So I'm grateful that I had the opportunity to create this book and and get it out there. And I think that again, as long as I can continue to inspire people, I'm going to do it. Because   Greg Schwem ** 1:04:47 why wouldn't you? Why wouldn't I exactly right? Yeah, yeah. So,   Speaker 1 ** 1:04:51 I mean, I think if I, if I stopped, I think my wife would beat up on me, so I gotta be nice exactly. She's monitoring from somewhere

Več kot četrtina odraslih v Sloveniji je sposobnih prebrati in razumeti le preprosta besedila, bralna pismenost je vse slabša. V dobi informacij pa je pismenost izjemnega pomena. Še posebej tudi za ranljive skupine, ki zaradi različnih oviranosti potrebujejo lahko berljive informacije. V tokratnem Studiu ob 17.00 se bomo ukvarjali z lahkim branjem. Gre za besedila, ki jih lažje beremo in razumemo. V Sloveniji je na voljo le malo več kot sto knjig v lahkem branju, prvi javni obrazci na občinah so šele ugledali luč sveta. Kako nastajajo novice v lahkem branju, ki jih objavljamo na portalu Enostavno.info v okviru MCC RTV Slovenija. Kako taka jezikovna različica vpliva na slovenski jezik in da bo v prihodnje verjetno vse več ljudi potrebovalo takšna besedila. Gostje: dr. Boris Kern, ZRC SAZU, Inštitut za slovenski jezik Frana Ramovša in Univerza na Primorskem; Aljaž Verhovnik, direktor Koroške osrednje knjižnice dr. Franca Sušnika; Branka Mrđenović, strokovna sodelavka v kompetenčnem centru za lahko branje; Veronika Rot, strokovna sodelavka za dostopnost na RTV Slovenija, ustvarjalka portala Enostavno.info; Marko Rusjan, državni sekretar na ministrstvu za kulturo; Mira Rožej, testna bralka lahkega branja.

Na svetu je debelih že več kot milijarda ljudi – debel je torej že vsak osmi človek; samo v Sloveniji po oceni NIJZ približno 400.000. Kdo je kriv? Kje tiči razlog? Ali je vzrok v tako imenovanem debelilnem okolju, ki nas sili v nezdrave izbire? Kakšno vlogo imajo pri epidemiji debelosti geni, hormoni, sladke pijače, procesirana hrana, gibalna neaktivnost, sedeč življenjski slog? Ali trend sploh še lahko zaustavimo, ali gre za začaran krog, za spiralo brez konca? O teh vprašanjih v Intelekti razpravljajo pediatrinja dr. Irena Štucin Gantar iz Bolnišnice za otroke s Šentvida pri Stični, mlada raziskovalka Kaja Kranjc, magistrica inženirka prehrane z Biotehniške fakultete v Ljubljani, profesor športne vzgoje dr. Gregor Starc s fakultete za šport in pediater dr. Primož Kotnik z ljubljanske Pediatrične klinike. Gre za ponovitev oddaje Intelekta, ki je bila premierno na sporedu Prvega septembra 2024.

V Franciji je skupno več kot 1200 muzejev z zelo različnimi področji interesa. Najbolj znan in verjetno tudi eden najbolj obiskanih muzejev na svetu je pariški Louvre, ki hrani več kot 35.000 umetnin, tudi da Vincijevo Mono Liso in Miloško Venero.A v Franciji lahko najdemo tudi druge zanimive ali pa nenavadne muzeje, na primer posvečene kajenju, sivki, parfumom, veliko je tudi takih, ki so posvečeni zgodovini medicine. Prav tej temi hkrati pa tudi pisatelju Gustavu Flaubertu je posvečen muzej v Rouenu, in to ne brez razloga. Gre namreč za rojstno hišo pisatelja, ki je bila del bolnišnice, v kateri je kot glavni kirurg služboval Achille-Cléophas Flaubert, oče slavnega pisatelja. Pred hišo je še vedno vrt z amfiteatrom, skoraj popolnoma enak, kot je bil v času, ko je v njem oče pred študenti opravljal avtopsije in ko se je na vrtu igral mali Gustave. "Kot otrok je Gustave Flaubert skupaj s sestro pogosto opazoval očeta pri opravljanju avtopsij. Pozneje je večkrat dejal, da se spomni, kako je vedno, ko je videl muhe na truplih, pomislil, aha, to so iste muhe, ki jih bomo pozneje našli v kuhinji in jedilnici. Ko je odrasel, pa je rekel, da kadarkoli vidi lepo žensko, si ne more pomagati, da ne bi pomislil, kako bi bila videti mrtva." Sogovornica:  Lisa Concato, turistična vodnica po Rouenu 

Register here for the live online event to learn about ‘Unlocking BRRRR Deals in Little Rock' on Thursday, 7/17. Keith discusses the rising cost of real estate, predicting that million-dollar homes will become common by 2033 due to: supply scarcity, demographic demand, inflation, and regulatory costs. Over half of U.S. states have cities with starter home prices over $1 million.  Hear about the challenges of investing in beach towns, citing rising insurance costs and maintenance expenses GRE Investment Coach, Naresh, joins the conversation to highlight the BRRRR strategy for income property investment. Resources: Register here for the live online event to learn about ‘Unlocking BRRRR Deals in Little Rock' on Thursday, 7/17. Show Notes: GetRichEducation.com/562 For access to properties or free help with a GRE Investment Coach, start here: GREmarketplace.com GRE Free Investment Coaching: GREinvestmentcoach.com Get mortgage loans for investment property: RidgeLendingGroup.com or call 855-74-RIDGE  or e-mail: info@RidgeLendingGroup.com Invest with Freedom Family Investments.  You get paid first: Text FAMILY to 66866 Will you please leave a review for the show? I'd be grateful. Search “how to leave an Apple Podcasts review”  For advertising inquiries, visit: GetRichEducation.com/ad Best Financial Education: GetRichEducation.com Get our wealth-building newsletter free— text ‘GRE' to 66866 Our YouTube Channel: www.youtube.com/c/GetRichEducation Follow us on Instagram: @getricheducation Complete episode transcript:   Automatically Transcribed With Otter.ai    Keith Weinhold  0:01   Welcome to GRE. I'm your host. Keith Weinhold, million dollar homes will be normal by 2033 I'll discuss why and exactly where they'll be arriving. Why are more beach towns going bust? What's in the big, beautiful bill for real estate investors? Then how to own income property with just 10% equity in it today on get rich education.    Keith Weinhold  0:28   Mid South home buyers, I mean, they're total pros, with over two decades as the nation's highest rated turnkey provider. Their empathetic property managers use your ROI as their North Star. So it's no wonder that smart investors just keep lining up to get their completely renovated income properties like it's the newest iPhone. They're headquartered in Memphis and have globally attractive cash flows and A plus rating with the Better Business Bureau and now over 5000 houses renovated, there's zero markup on maintenance. Let that sink in, and they average a 98.9% occupancy rate, while their average renter stays more than three and a half years. Every home they offer has brand new components, a bumper to bumper, one year warranty, new 30 year roofs. And wait for it, a high quality renter. Remember that part and in an astounding price range, 100 to 180k I've personally toured their office and their properties in person in Memphis, get to know Mid South. Enjoy cash flow from day one. Start yourself right now at mid southhomebuyers.com that's mid south homebuyers.com.   Speaker 1  1:53   You're listening to the show that has created more financial freedom than nearly any show in the world. This is get rich education.   Keith Weinhold  2:10   Welcome to GRE from Palm Bay Florida to Palm Springs, California and across 188 nations worldwide, you are inside one of the longest running and most listened to shows on real estate investing. This is Get Rich Education. I'm your host. Keith Weinhold, I think you know that by now, you can also find my written work in both Forbes and the USA. Today, million dollar homes could be coming to right where you live only as the average home, a typical home. Best said is the million dollar median priced home. They're increasingly common across America. We're going to look at the exact areas where this is going to happen next, and why. Though, real estate prices are only up about 2% annually. This time, a plethora of forces are conspiring to push median American home prices ever higher to a million bucks by 2033 the reasons for ever higher future prices on a national basis are supply scarcity. Though, homes aren't as scarce as they were, say three years ago, incessant demographic demand, continued inflation, tariff pressures, heightened regulatory costs, the rate lock in effect remote work and a perpetual construction labor shortage that makes it easier to find a unicorn than, say, a good plumber out there. All these things are conspiring to push long term prices up, up, up, and sadly, this will make first time home buyer dreams, well only dreams, not a reality for so many Americans. CBS News recently called first time homebuyers an endangered species for this reason. Hmm. Then I wonder if the US Fish and Wildlife Service is now protecting these beleaguered, endangered first time homebuyers. Now the typical Canadian single family home costs 779,500 Canadian dollars today. And get this now, of course, some US regions will have rising prices, and others falling prices in the shorter term, although the general direction is up, but more than half of us, states, 28 out of 50, already have at least one city where the median price for a starter home, just a starter home, is a million dollars or more. This is per realtor.com economist. More than half of states have that condition. Now I want a starter home that's defined as 80% or less of the price of an area's median Well, here we go. It is not just trophy cities anymore that are on the precipice of the million dollar club. It's these moderately priced cities that are next in line, and one trend is that they're located near already expensive markets. For example, Stockton, California is two hours inland from San Francisco, and Stockton is best known for well being two hours from San Francisco. That's about it, all right. Well, here is the 2023 median price. And it's 2033 projection, only eight years away, really, just a little over seven years away. This is where we're going. All right, Boise, from 465k up to $1,163,000 million $163,000 Boston, from 623k to 992k and again, these are 2023 median home prices, and then what they're projected to be in 2033 as these million dollar homes become typical, just in these somewhat moderately priced. US areas, let's continue Colorado Springs. 455k up to $1,020,000 I've made two trips to Colorado Springs in the past two years. I really like it. They're really livable with a nice little airport Denver. 548k up to $1,297,000 Honolulu, 638k up to $1,144,000 Portland, 501k to more than doubling to $1,052,000 Sacramento, 558 up to over $1.1 million Salt Lake City, more than doubling from 493k up to $1,064,000 Seattle, 694k up to $1,486,000 and finally, the aforementioned their Stockton, California, 579k up to $1,447,000 million dollar homes are increasingly abundant into places that are surely Not trophy cities anymore. They're projected to come to all these places by 2033 and this is very realistic, because consider this, what will a million dollars even be worth in 2033 just a little more than seven years away, what will a million dollars even be worth then at 3% inflation, just $789,400 All right. Well, what should you do with this information? It gives you perspective, waiting is not helping get comfy with million dollar homes that are like just kind of all right? And here's the thing, a million dollar home that used to be like posh that used to come with a waterfront view or a celebrity neighbor, and today you just get a popcorn ceiling in a mysterious draft in some entire counties, like I've told you before, in San Mateo County, California, the median home price is already over $2 million just an average home county wide. And I also mentioned to you that there's another California County, Santa Clara, California, where the median price is over $2 million but there are more Nantucket, Massachusetts, Pitkin, Colorado and Teton County, Wyoming, all over $2 million county wide. I mean, in places like this, a million dollar home is a gut job. I mean, it needs a renovation. In these places, a million dollar home costs less than half of the county median. So therefore it is so broken down that you might not even be able to get a conventional loan for that property. And notice that the Sun Belt is not on any of these lists for now, despite its growth, there's still vast land and cheaper housing there the southeast and the Midwest, they still feel like America's affordable housing frontier. But you've got to wonder, for how long and what else does this continued low affordability mean? It's the American. Emerging trend that few people see coming, but we've talked about here, it's that common tidal wave, this horde of new renters that are coming, priced out of million dollar homes. Your renters are coming, and what does this mean for you? Well, consider owning low cost rental property in those low cost parts of the nation. We help you do that here, completely free, at GRE investment coach.com a tidal wave of future renter demand means higher rents and higher occupancy rates. Your renters are coming.   Keith Weinhold  10:39   now, last week, on the show, I discussed the Airbnb arms race, how short term rentals really need a serious glow up and some major investment to compete in a lot of markets anymore. This week, let's discuss the trends in another real estate niche that's largely fallen on some harder times, and that is investing in beach town, something that might be more top of mind for us, as we are here in mid summer. The very best beach town for a bikini slim budget is Pascagoula, Mississippi, a gulf shore escape, where the typical listing will run you a mere 166k can you believe that now this gulf coast town of 22,000 people, it is somewhat of an aberration, though, be careful, Pascagoula is affected by a FEMA rule that really limits the amount of renovation that you can do there? Atlantic City, New Jersey, it's another beach town with a jaw droppingly Low typical list price of 242k yeah. Atlantic City, AC is the name long synonymous with gambling and Trump property port. Ritchie, Florida is another notably cheap beach town with just a 255k typical list price. And it's notable because back in 2019 GRE did a real estate field trip there where I and the property provider and a few speakers, we hosted you, and then we toured properties together in a coach, a tour bus, but those neighborhoods were actually about two miles inland, Myrtle Beach, South Carolina, still just 299k. Corpus Christi, Texas and Ocean City, Maryland, are two more notably cheap beach towns now, especially after talking about the million dollar homes and then you hearing about these cheap beach towns. You might be wondering, gosh, should I buy property for cheap in these beach towns? But, you know, buying the beach house is just the start. Rising. Insurance costs and maintenance costs have forced a lot of investors to question whether beach homes are too big of a gamble now with a few investor profiles here were interviewed first Levi Rogers, a retired Green Beret and a real estate broker in San Antonio, he recently shared how his property on the Gulf Coast went from $3,200 a year for insurance to over $11,000 and that's if you can even get coverage without bizarre exclusions, throw in new flood zone Redeterminations and wild HOA fee hikes due to inflation, and your profits are wiped out in an instant. That's what Levi Rogers says about his particular situation. Honestly, coastal property makes me more nervous than my first Million Dollar Listing. Despite loving beachfront real estate, that's what Los Angeles real estate agent Wesley Kang says he's seen changes that would shock most investors. Insurance costs broke another record at his Marina del Rey listing the owner just got hit with a $68,000 annual premium up from 15k last year, while his neighbor, two blocks inland, pays just 7k so in addition to hurricanes and slow and steady beach erosion, that has caused some homes to simply collapse and fall into the sea. Kang, the Los Angeles real estate agent, said his Malibu client just spent his entire summer rental income on mandatory seawall repairs. Another had to install $100,000 worth of water barriers just to keep his insurance. So is a beach home a good investment? Well, owning it really is not the easy, dreamy investment that it used to be. There are some investors that still think it's worth it, but they need to change their strategy. Roger said that he hasn't sold yet. He just. Had to adapt. That's the San Antonio real estate broker. He cut his rental period down to only the high season months. Raised his rates by 22% just totally ended low season bookings, and he promoted high end upgrades to make the numbers work. He says you have to run it like a hospitality business now, not a passive rental, so the ROI can still be there, but only if you're really on top of it, actively managing risk and costs and the guest experience. Otherwise, what you're doing is that you are just financing someone else's vacation. And this is along the lines of what I was discussing last week with short term rentals in general. Real Estate Investor Daniel Roberts, based in Idaho, he says beach properties are now riskier. He has reinvented his approach to stay solvent. He says we improved our rental by presenting the property as a luxury destination, adding concierge services with dining and boat tours and even fitness sessions. With this rental arrangement, we earned 18% more on rental income last year compared to the previous year, is what he says. However, still, our profits have decreased a little since we now pay so much more each month for insurance and for maintenance, if you're shopping for a beach house and hoping for a deal, it might pay to search a bit inland for cheaper properties and insurance rates, and then it's not really a beach house anymore. Elevation is your friend. Certain oceanfront areas are experiencing a steep drop in some places like Florida. I mean, can you buy the dip if you're looking for opportunities in investor areas like Florida, which saw a huge run up of people heading there during the pandemic, but their jobs require them to return to the office. If you're in the market for a vacation property that you can rent out and possibly use as a second home. There are beginning to be more and more choices. So the bottom line here is that many beach towns are in a bust. Their profitability is under attack, chiefly from these insurance premiums that have as much as 3x or more for many in the past three or four years, Hoa costs are up due to inflation, and then there's just simply the threat of more storms and more beach erosion, and just the stress and concern that causes even outside of the insurance cost, short term rentals tend to be right on the coast or A short walk from the beach. The best long term rentals tend to be inland, inland. Long term rentals are long where we have focused here on this show, and they tend to be stable and steady and frankly, kind of boring, but somehow boring in an interesting way, if that's possible, they plod along paying you five ways.    Keith Weinhold  18:05   Hey, is get rich education the number one real estate investing podcast in America. Are we number one? I've got an answer for you on an upcoming episode. It looks like the big, beautiful bill that was signed into law on the Fourth of July will be advantageous for real estate investors. It extends a lot of Trump's 2017, tax cuts and Jobs Act. There are modifications to opportunity zones in the big, beautiful bill. But the big story is that 100% bonus depreciation has been restored, reset, huge that applies to qualified property placed in service from January 20, 2025 through the end of 2029 now is the Time to accelerate acquisitions and renovations to leverage 100% bonus depreciation. I mean, this is great for investors. And what this does is it allows you to fully deduct the cost of qualifying renovations, property improvements and certain building components immediately, instead of you, having to spread the deductions out over several years. Major however, the big, beautiful bill does not do much of anything to help those beleaguered first time homebuyers that endangered species. In fact, in a previous version of the bill, it was going to open up millions of acres of public lands for new development. Now, if that happened, that could have added more housing supply and therefore kept home prices from perpetually rising, and therefore maybe helped first time home buyers. But that provision was removed from the bill before it got passed. All right, so those public. Lands will not be developed. That was not part of this bill, and that's a quick overview of what Trump's big, beautiful Bill means to real estate investors. To review what you've learned so far. Today, million dollar homes are coming to more places, and that's due to supply scarcity, demographic demand, incessant inflation, tariff pressures, heightened regulatory costs, the rate lock in effect, remote work and a perpetual construction labor shortage. More beach town properties are going bust due to surging property insurance costs and the big beautiful Bill has some serious positives for real estate investors, but not for first time home buyers.    Keith Weinhold  20:45   There is a lot happening here at GRE we, including me and our investment coaches here, are talking with you, our investors. We're talking with the nation's top property providers, as we always do, and there's just a lot of real estate news. How can you follow us to keep up on all this? Well, there are three main ways, and they're all free. There's no subscription cost. That is, firstly, through this show, the get rich education podcast. Secondly, our YouTube channel called get rich education. Yes, we are consistently branded. And the third main way to follow us is with our Don't quit your Daydream newsletter. Sign Up Free by texting GRE to 66 866, that's text GRE to 6668 66 and there you go. They're in they are the three main ways to follow us, podcast, YouTube channel and newsletter, and then also our social media channels, get rich education can be found at all the usual places, Facebook, Instagram, Tiktok and x, but our handle is Get Rich ed on x because there is a character count limit there. That's how to follow us. You can find our recommended property providers at GRE marketplace when you're getting actionable, and then to engage with us for a free strategy session to learn your goals and really put you on a financially free trajectory. You can do that with our investment coaches directly book time on their calendar at GRE investment coach.com   Keith Weinhold  22:25   what is happening with the future of the Fed and interest rates, and how can you put as little as 15% even 10% down on an income property? That's next. I'm Keith Weinhold. You're listening to get rich education    Keith Weinhold  22:39   the same place where I get my own mortgage loans is where you can get yours. Ridge lending group and MLS, 42056, they provided our listeners with more loans than anyone because they specialize in income properties. They help you build a long term plan for growing your real estate empire with leverage. Start your pre qual and even chat with President Caeli Ridge personally, while it's on your mind, start at Ridge lendinggroup.com. That's Ridge lendinggroup.com.   Keith Weinhold  23:11   You know what's crazy? Your bank is getting rich off of you. The average savings account pays less than 1% it's like laughable. Meanwhile, if your money isn't making at least 4% you're losing to inflation. That's why I started putting my own money into the FFI liquidity fund. It's super simple. Your cash can pull in up to 8% returns and it compounds. It's not some high risk gamble like digital or AI stock trading. It's pretty low risk, because they've got a 10 plus year track record of paying investors on time in full every time. I mean, I wouldn't be talking about it if I wasn't invested myself. You can invest as little as 25k and you keep earning until you decide you want your money back. No weird lockups or anything like that. So if you're like me and tired of your liquid funds just sitting there doing nothing, check it out. Text family 266, 866, to learn about freedom. Family investments, liquidity fund again. Text family to 66 866   Naresh Vissa  24:21   you this is peak prosperity. Chris Martenson, listen to get rich education with Keith Weinhold, and don't quit your Daydream.   Keith Weinhold  24:42   It's terrific to have a familiar voice back on the show. It's an in house discussion with our own GRE investment coach since 2021 he's met with you, usually over zoom or the phone completely free to learn your own personal goals. Find the market that's right for you. Two. And he even goes as far as helping connect you with the exact property address that would make your next real estate pays five ways property, like say, you find 654, Maple Street in Little Rock, Arkansas or Indianapolis, Indiana. For you, he helps you through it all. And then he even helps you if you have any trouble after owning the income property. He's got the formal education with his MBA, and he walks the talk because he's a direct real estate investor, just like I am. Hey, welcome back to the show investment coach Naresh Vissa.   Naresh Vissa  25:32   thanks for having me back on. It's always a pleasure to talk to you and the loyal GRE listenership that we have. I think   Keith Weinhold  25:40   we enjoy talking to each other more than President Donald Trump and Fed Chair Jerome Powell do for sure. And I think if anyone's been paying any attention, there's been quite a feud between Trump and Powell, and it's been pretty entertaining. Trump has referred to Powell as Mr. Too late, like too late to make a decision. He has called Powell a numbskull. He has said Powell has a low IQ for what he does. That drama has been really interesting now. Powell's term ends in May of next year, so about 10 months from now. And I think most anyone knows that Trump wants an interest rate cut badly, but Powell keeps holding tight, and what Trump says is that he wants to lower the interest costs on our national debt. That's the reason that Trump gives for lowering the rates. But Powell's been reluctant to lower rates because it might stoke inflation. In reality, I suspect that Trump wants lower rates just to juice economic growth, like that's the real reason, and then Trump sort of hopes that inflation only catches up with the next president who comes in in 2029 and interestingly, back on July 1, Jerome Powell said, if it weren't for tariffs, he would have already lowered rates. What are your thoughts?   Naresh Vissa  26:55   Well this is a lot more complicated than it seems, and here's why Trump called Powell a lot of names, and I think some of those names hold true if we go back to when Biden was president, because it was in April, May 2021, that I was saying, hey, it's time to start increasing the interest rates, because inflation was going up significantly, very quickly, it was going up. And if you recall, Keith, I know you did many episodes on this, Powell kept saying, Oh, this is transitory. It's just transitory. And my whole justification was, well, look, a 25 basis point hike ain't gonna kill anybody. And they refused to do it for an entire year. Once we started seeing inflation going up. And by that point, inflation went up close to 10% that's how bad it got. That's it didn't hit the double digits, but it was very close to hitting the double digits. So yes, I do think Powell was a numbskull for not raising the rates back in 2021 but today I'm actually on Powell's side, because there are still inflationary pressures. And remember, Keith, the inflation target is 2% it's not two and a half percent. They haven't moved the goalposts. It's still 2% and last month, this is the media is not talking about this, except for get rich education today, inflation went up last month. So yes, it beat expectations, but it still went up. The expectations were that the terrorists were going to create this massive inflation and we would be back up at the three handle. And it didn't do that. But regardless, inflation still went up. So let's wait. Let's see what the CPI numbers show. I don't think we're going to be close. I don't think we're going to be under that 2% figure within the next two months, and that's why I think Powell is justified in holding to rate study. Now, with that being said, I do think because of Doge, we did an episode earlier this year on Doge, because of Doge, because of the latest ADP job numbers, the latest unemployment numbers, the private sector cuts that are happening at Microsoft and Google and a lot of other big name companies. I do think that inflation will eventually dip below 2% you look at the gas prices have hit four year lows. Look at egg prices have hit, I think four year lows or three year lows. I do think we'll dip below the 2% at some point. The question is, is, when is it going to be? You know, three months from now? Is it going to be a year from now? It all depends. So what does that mean for your question of, is Powell right? Is he wrong? Is he a numbskull? Who's right? I completely understand what you said is why Trump wants the rates cut, and that is, he wants to juice everything because he looks great, and it's a midterm election year, next year, and he doesn't want to lose his Congress. And I understand the political side of it, but the number one issue, the number one issue, according to almost every poll out there before. Election, the number one issue on voters minds was inflation. It's had things. The bleeding has not stopped, and the inflation is out of control. The groceries are too expensive. That's what's important. And I'm on Powell's side here. I think you have to be patient. On the other hand, Trump is being very aggressive, and he's looking to replace Powell, and he's going to put in his guy in there. I mean, the basic requirement for the job is you're going to get in there and slash entry. You're not even going to do a 25 basis point cut. You're going to go down to 1% fed upon rates overnight. That's what Trump wants. I don't know if you saw that, but Trump wants a 1% Fed funds rate pretty much overnight, because he's saying, oh, is going to save us all this money on the debt that we're paying, interest payments and data I get where both of these guys are coming from. I think the ideal scenario, because Powell, it looks like he's safe until maybe the end of the year. I think we hit that 2% point, definitely by the end of the year, and Powell will start cutting in September, we'll see a 25 that's what I think. I think we'll see a 25 basis point cut in September, maybe a 50 basis point cut in the next meeting after that, and and maybe even a 75 basis point cut in December. And that way, when the new guy comes in, he doesn't have to do this drastic COVID March, 2020, type of cut, of slashing rates close to zero overnight. We do it in a gradual I think that would be better for the country and for the economy and for the global economy. So that's where I see things. But regardless, regardless, we know for a fact that the interest rates, the cutting is beginning soon, and the rates are going to be very low sometime next year, if not by the end of next year, we know for a fact that the rates are going to be very, very low. And what that means for the housing market is that, and let's talk about the housing market really quickly, the inventory in the housing market is the supply side is very high. This is not 2021 2022 when homes are flying off the shelves and people were paying above asking price for homes. We're in a situation where the inventory has piled up. Home values have somewhat stagnated. If rates are going to bottom next year, then buying real estate. I don't want to say I'm not calling a bottom, but I'm saying that you can expect real estate home values to skyrocket once rates hit that 1% because of the Fed funds rate. So right now, we're seeing demand from investors because they're thinking what I'm saying, hey, the Fed is going to slash. We know that for sure because of Trump. And when that happens, institutions, individuals, they're going to start taking out debt, and the housing market's going to skyrocket just like stocks. I mean, really, most assets are going to skyrocket. So right now, I think, is an excellent, excellent time to be looking at buying real estate, and then you can just refinance later, when the rates bottom in a year or two,   Keith Weinhold  32:50   when you talk about high housing supply, I think what you mean is higher housing supply. Nationally, we're still 12% under supplied. It's just the fact that we have 30% more available housing supply in the one to four unit space than we did a year ago. At this time when we're talking about interest rates and things that have to do with the larger economy, here, you the listener should be aware that Naresh has often been tapped and interviewed by major network television on his opinions on these sort of broader economic issues, so he is qualified that way. And to give you an idea with what we're talking about with this desire to get the Fed funds rate down to 1% whether that happens or not, today's Fed funds rate is around 4.3% just to give you an idea of the magnitude of the potential cut, I don't forecast interest rates because it's very difficult to do, but it's interesting that Naresh has done some of that, and let's remember that Trump is actually the one that appointed Jerome Powell back in Trump's first term, and there's been a good bit of speculation around who the next appointee might be. In fact, if that appointee is named several months before Powell's termination of his term in May. Some people think that could be Treasury Secretary Scott Besant, that that alone could change the dynamic, that you would get someone more likely on board to make rate cuts and name them before they actually come into office.   Naresh Vissa  34:14   Well, the President decides he appoints that position, and we know for a fact 100% Trump is only going to put his person in there, man or woman, we don't know, but he's going to put his person. And the basic requirement for the job, it's not a PhD from Harvard or being a multi billionaire like Scott Besant. The basic requirement for the job is cutting the rates to 1% the Fed funds rate to 1% that's the bare minimum basic requirement for the job, and there are apparently lines of people who are lining up because they think they fit that requirement. So we know that's coming. We know it's coming at the latest, next year, like I said, Because Trump said it himself, and to be calling somebody a numbskull and all these names, he's very serious about this. It's an issue that means a lot to him. And again, I get where Trump's coming from. The government would save a lot of money on interest payments. And Trump's justification is, inflation is low, let's just try it, which I somewhat agree with. He says, Let's just try it, and if the inflation goes back up, then you just raise the rates. Don't you know, Powell was too late in 2021 the next guy won't be too late in raising rates this time around if the inflation does go back up. So it's a different strategy that would definitely juice the economy overnight. Of course, he wants that. Everyone's got their own opinions. I'm of the opinion. I think the Fed actually is for the most part. Post 2022 has done a good job. In fact, I did an episode with you, I think, a year and a half ago, saying that the Fed should have done more rate hikes, because we would have been at 2% inflation a year ago had the Fed done one or two more rate hikes, in my opinion. And we saw at the end of Biden's presidency, inflation started going back up when the Fed actually cut rates, when they should have been raising rates previously. So with that being said, this is a good opportunity for investors, because we are in that doldrum right now where we know the rate cuts are coming, at least we, you and I and GRE listeners know that the rate cuts are coming. Not everybody knows that they're coming, because they may not pay attention or follow this stuff as closely as we do. We know that they're coming, and what that means for the housing market is, like I said, juice. We can see juice in stocks. We can see juice and housing. We can see juice and Bitcoin and other commodities.   Keith Weinhold  36:35   Well, you use the word doldrum. Yes, the housing market is in somewhat of a doldrum. We have lower transaction volume than we have historically, for sure, and really that's led by we need to keep in mind as investors, that that's lower owner, occupant purchase volume, because investor purchases have stayed pretty steady.   Naresh Vissa  36:56   Yes, I'll say this, Keith, we work with a lot of different providers all around the country. I want to say we're up to something like 30 different providers in 20 different markets or so. When these partners are calling me saying, Hey, we got all these properties and send me your people and you know, let's do business together and help us find more investors, then I know that the housing market has somewhat stalled. It's not doing terrible, but I know that it's when those providers aren't calling me, or when they even cut off the relationship and say, Hey, I don't want to talk to you anymore. I don't want to work with you anymore. Then I know, hey, it's a really hot housing market. They don't really need me. And I'll tell you right now, every other day I have a partner of ours, I had to tell them to stop call. I said An email will do, or a text message will do. You don't need to call and leave me a bunch of voicemails. I have people calling me every day saying, Hey, we got all these properties, and they're amazing and they're beautiful, and send your people to us, which tells me that it could be actually a good time to start buying. Because it's not like I said, 2021 it's not 2022 it could be a good time right now, because the investor will hold more leverage, and the incentives that these partners are offering are second to none. I've never seen incentives this good. I mean, it's not just the free property management, it's not just the closing cost credit. It's negotiating prices of homes. It's getting cash back at closing, so just literally having a check overnighted to you that's in the five figures, cash back for buying property. So overall, I think it's a really, really good time right now to get into real estate, probably one of the best times, if not the best time since I joined GRE at the end of 2021   Keith Weinhold  38:40   of course, Ken McElroy was just here on the show with us a couple weeks ago, talking about what a good time it is to buy from his perspective as well. But yeah, Naresh, I appreciate that you're kind of letting the listener peek behind the curtain a little bit. We really get a good read on the pulse of the market here, and part of our job is to vet those providers that we work with, yeah, the race. Well, one property strategy that almost transcends eras is the BRRRR strategy. It's such a popular strategy with investors, because you can get in to a deal and have so little of your money left in the deal that you could end up with 10 to one levered. So the burr strategy, that's probably the most popular strategy with our investors. So tell us more about that.   Naresh Vissa  39:27   We've done several webinars already about Bert, and this has become the most popular strategy with our investors, hands down the amount of volume that we're seeing with our investors, people who keep buying more and more because the first one worked out. Now there are some that didn't work out, and that has more to do with the provider than it has to do with the strategy. The strategy is simply buy a property that needs to be completely rehabbed, refurbished. It's you buy a property, as is, you take out a hard money loan to renovate the property, to gut it, to update. It, bring it up to speed. Or you can pay cash. So a lot of people say, Oh, I don't have the cash to pay for such a property. So they're the hard money loan is there. Or you could pay cash. Our recommendation, my recommendation, personally, is take out the hard money loan, because you have that extra layer of protection, that extra body who will make sure that you're not getting taken advantage of, because that's a problem that we've seen with BRRRR, where some of the providers, some of the sellers, they'll sell the property, and then they just disappear after that. And we don't want that to happen. We want the rehab to actually get done, because the real value is by doing the rehab, making the house nice, renting it out to a tenant, and then refinancing the property, because the home value is going to appreciate so much. In some cases, some of our investors got 100% appreciation from what they bought the property at, and they were able to use that equity, 100% of that equity into the down payment, into other fees, so they didn't have to pay anything out of pocket for the property. So that's the beauty of the BRRRR strategy. And like I said, what's most important? Because we've already done two web it. We've done a Memphis burr webinar, we've done a Cleveland burr webinar. Now we're doing a little rock BRRRR webinar, and I think this is the best burr out of all the burs that we've done. And the reason is because the team we're working with, they have a legitimate company operation. They have a property management division, they have a rehab division, they have a sales division, they have a management division. This is not like a one man show or a two person company trying to do all these rehabs all at once. So they're very here's the schedule. This is what we have to do, very accurate and so yes, their pro forma numbers aren't going to be as aggressive as what our investors have seen with previous BRRRR providers. But the problem with those aggressive numbers is that a lot of the providers, they overinflate those numbers, and they don't follow through, let's say, on the rehab, or they do the rehab, and the appraisal does not come back at an amount that met the proforma. So I'm just really excited about this, because Little Rock is a new market that we've entered into. We have not done a lot of Little Rock promotion, a lot of Little Rock property. So it's a new market, number one and number two, it's the team that's there. This is the best of the best team. And if somebody came to me and said, Hey, I want to do a bur. Where should I do it? You've got all these different webinars and podcasts on burrs. Where should I do it? I would say bur Little Rock is where you want to do it, because you're going to sleep way better at night, and the process is going to be way smoother than the others. Yes, the pro forma numbers, they're not going to be as appealing, or they're not going to be as outlandishly high as those other markets, but those other markets, Memphis, Cleveland, there's a reason why those numbers are so high. And like I said, it's this team in Little Rock, amazing team, Keith, I know you've had some calls with them. We interviewed the their head Alex on last week's podcast episode. He and I are going to be doing this upcoming webinar on BRRRR little rock this Thursday, and we hope to see everybody there go to gre webinars.com, gre webinars.com, right now to register for that webinar.   Keith Weinhold  43:14   It's this Thursday, a live event that you can attend from your own home. And the benefit of you attending live is you can have your questions answered in real time. You can hear other attendees questions, which will help educate you on this process. And yes, I don't know if this will ever happen again. We do have Alex leading the bur strategy in Little Rock. He's been doing this for 15 years. He's got his vetted, proven team and a great system for doing this, so that so much of it is all done for you. And   Naresh Vissa  43:47   one more thing that I'll say, because this has become very popular with our online special event attendees, they hear podcast episodes like this, and they say, Hey, I want to jump on this before the live event, because all those other people are going to be on, and I want to jump. So I want to share, or Keith, I'll let you share our link for people to just reach out to me if you want to schedule a meeting or just email me. Just reach out to me if you don't want to wait until the webinar, the online special event this Thursday, if you want to get a head start, please absolutely reach out to me.   Keith Weinhold  44:20   That's a great thought. You can go to GRE investment coach.com right now and get on the race's calendar so that you can have a free meeting. Any last thoughts about Thursday's big event?   Naresh Vissa  44:32   like I said, it's going to be Thursday evening. The time is going to be at 8pm Eastern Time. Thursday, 8pm eastern the webinar, online special event will last about two hours. Our listeners, our followers, love these online events because they're highly interactive. We get everybody involved. They're fun, and the reason why they last two hours is because the people who attend are having such a good time. Them that they want it to last that long. I remember a long time ago when we used to do these online events, and they'd only last 30 or 40 minutes, and then that was the end. But now our file loves them so much. I think if you've never attended one of our online special events, you'll definitely want to attend this, because it is the timing is perfect before all these rate cuts, as the housing supply inventory is at a 12 month high. So the timing is is really good. The incentives are excellent. And like I said, we know interest rates are going to be slashed sometime next year, so you can always refinance later, but but getting in at these prices is going to be a true gift. So gre webinars.com, to register for this online special event.   Keith Weinhold  45:52   We are all looking forward to it this coming Thursday. Narration, it's been great having you back on the show.    Naresh Vissa  45:57   Thanks, Keith.    Keith Weinhold  45:58   Yeah. Fruitful in house chat, as always, with one of our investment coaches, Naresh, that's how you can leave as little as 10% down on an income property. When you do that, cash out refi with the burr strategy, you'll get in at today's lower prices, they tend to be 140 to 160k in Little Rock, Arkansas. You'll lock in this year's rates with that low price, with the BRRRR acronym, meaning buy, renovate, rent, refinance, repeat. Well, that refi is a little ways down the road after your initial purchase. Longer term, if interest rates go up, you'll be glad that you got today's rates. And if interest rates go down, which many expect, then you'll refi. The only thing bigger than the next Fed interest rate decision or the naming of a new Fed chair is Thursday's GRE live event itself, get ready. Really, the event presentation typically takes an hour or less. The rest of the time is your questions and conversations, so show up from the comfort of your own home, maybe with a beverage this Thursday, and since it's in the evening, probably not a stimulant, maybe a yerba mate, besides seeing real life case studies and understanding how the burst strategy works, how to optimize it and the mistakes to avoid, expect access to available Little Rock burr properties, actionable opportunities. Should you so choose? Sign Up Free at gre webinars.com Until next week, I'm your host. Keith Weinhold, don't quit your Daydream.   Unknown Speaker  47:50   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  48:14   You know, whenever you want the best written real estate and finance info, oh, geez, today's experience limits your free articles access and it's got pay walls and pop ups and push notifications and cookies disclaimers. It's not so great. So then it's vital to place nice, clean, free content into your hands that adds no hype value to your life. That's why this is the golden age of quality newsletters. And I write every word of ours myself. It's got a dash of humor, and it's to the point because even the word abbreviation is too long, my letter usually takes less than three minutes to read, and when you start the letter, you'll also get my one hour fast real estate video course, it's all completely free. It's called the Don't quit your Daydream letter. It wires your mind for wealth, and it couldn't be easier for you to get it right now. Just text gre 266, 866. While it's on your mind, take a moment to do it right now. Text, gre 266, 866,   Keith Weinhold  49:30   The preceding program was brought to you by your home for wealth, building, getricheducation.com  

In this week's MBA Admissions podcast we began by discussing some of the recent activity on LiveWire; we followed this by highlighting a new article published by Clear Admit that summarizes the current situation for international students seeking visas to study in the United States. Graham noted Clear Admit's summer series of webinars, which focuses on top MBA programs' admissions essays, which will be attended by more than 20 of the top MBA programs. The second event is on Wednesday of this week, and includes Georgetown / McDonough, Michigan / Ross, UNC / Kenan Flagler, Vanderbilt / Owen and Yale SOM. Signups are here: https://bit.ly/mbaessay0725 Graham then noted four admissions tips; the first focuses on the importance and value of volunteering; the next three, part of Clear Admit's “Myth Busters” series, discuss whether only the very top MBA programs (M7) will help you succeed, whether being honest means you need to share all your weaknesses, and the desire for applicants to seek out what admissions officers want to hear. We continue our series of Adcom Q&As, which is a yearly series where we interview the admissions leaders at all the top MBA programs; this week we have Q&As from Emory / Goizueta, Chicago / Booth and Duke / Fuqua. Finally, Graham highlighted a recently published podcast, the MBA Decoded. This is a recording from a panel discussion from our MBA Fair event in Boston. For this week, for the candidate profile review portion of the show, Alex selected three ApplyWire entries: This week's first MBA admissions candidate is from Georgia and works in Private Equity. They also have a 705 GMAT score. This week's second MBA candidate is an architect in London and wants to transition into real estate private equity. They still need to take the GMAT or GRE. The final MBA candidate was enlisted in the military and now works in banking. Their short-term goal, post MBA, is investment banking. They have a 332 GRE score. This episode was recorded in Paris, France and Cornwall, England. It was produced and engineered by the fabulous Dennis Crowley in Philadelphia, USA. Thanks to all of you who've been joining us and please remember to rate and review this show wherever you listen!

Male sexuality is often misunderstood. In this first in a series of episodes on the topic, I discuss one of the reasons why men lose interest in sex: familiarity. When people live in family-like conditions for many years, they develop a sexual indifference (or aversion) to each other in order to prevent inbreeding. This is known as the Westermarck Effect, and it can help explain why closeness kills attraction. Join my community: https://the-captains-quarters.mn.co Buy my book, "The Value of Others" Ebook: https://amzn.to/460uGrA Audiobook: https://amzn.to/3YfFwbx Paperback: https://amzn.to/3xQuIFK Book a paid consultation: https://oriontarabanpsyd.com/consultations Subscribe to my newsletter: https://oriontarabanpsyd.com Social Media TikTok: https://www.tiktok.com/@oriontaraban Facebook: https://facebook.com/profile.php?id=100090053889622 LinkedIn: https://www.linkedin.com/in/orion-taraban-070b45168/ Instagram: https://instagram.com/psyc.hacks Twitter: https://twitter.com/oriontaraban Website: https://oriontarabanpsyd.com Orion's Theme: https://www.youtube.com/watch?v=WrXBzQ2HDEQ Thinking of going to grad school? Check out STELLAR, my top-rated GRE self-study program based on the world's only empirically-validated test prep system. Use the code "PSYCH" for 10% off all membership plans: https://stellargre.com. Become a Stellar affiliate and earn a 10% commission for every membership purchased by a new student you conduct into the program: https://stellargre.tapfiliate.com. GRE Bites: https://www.youtube.com/@grebites4993 Become a Psychonaut and join PsycHack's member community: https://www.youtube.com/channel/UCSduXBjCHkLoo_y9ss2xzXw/join Sound mixing/editing by: valntinomusic.com Presented by Orion Taraban, Psy.D. PsycHacks provides viewers with a brief, thought-provoking video several days a week on a variety of psychological topics, inspired by his clinical practice. The intention is for the core idea contained within each video to inspire viewers to see something about themselves or their world in a slightly different light. The ultimate mission of the channel is to reduce the amount of unnecessary suffering in the world. #psychology #marriage #relationship

Diesmal gehen wir nach dem Prinzip "go with the flow" vor: Wir beginnen mit den Tests der AMD Radeon RX 9070 GRE. Die gibt es bisher zwar nur in China - ähnlich wie damals die 7900 GRE, die dann aber doch irgendwann im Rest der Welt veröffentlicht wurde. Daher haben Computerbase und PCGH zusammen mit ihren Communities eine organisiert und getestet, beide Seiten ein und dieselbe Karte. Wir gedenken des 30-jährigen Bestehens der mp3, des bekanntesten Audio-Dateiformats, gehen dann direkt zu unseren aktuellen Musikempfehlungen: Melodic Death Metal mit "The Halo Effect", Mittelalter HipHop von... "Mittel Alta" und Blackened Death Metal von "Kanonenfieber". Meep feiert eine Premiere, sie hat nämlich nicht nur Jurassic World Rebirth im Kino gesehen, sondern auch noch den allerersten Jurassic Park, das Original, nachgeholt. Worauf alle gewartet haben: die Öle. Ja, wir haben über die wichtigsten Öle gesprochen, die in keinem Haushalt fehlen dürfen. WD-40 zum Lösen von festen Dingen, Silikonöl zum Schmieren und Ballistol für den ganzen Rest, zum Beispiel für die Waffen. Oder die Schneidbretter. Oder um sich einzureiben. Es geht quasi für alles. Viel Spaß mit Folge 264! Sprecher:innen: Meep, Michael Kister, Mohammed Ali DadAudioproduktion: Michael KisterVideoproduktion: Mohammed Ali Dad/Michael KisterTitelbild: MeepBildquellen: Pixabay/ WD-40/Nigrin/BallistolAufnahmedatum: 12.07.2025 Besucht unsim Discord https://discord.gg/SneNarVCBMauf Bluesky https://bsky.app/profile/technikquatsch.deauf TikTok https://www.tiktok.com/@technikquatschauf Youtube https://www.youtube.com/@technikquatschauf Instagram https://www.instagram.com/technikquatschauf Twitch https://www.twitch.tv/technikquatsch RSS-Feed https://technikquatsch.de/feed/podcast/Spotify https://open.spotify.com/show/62ZVb7ZvmdtXqqNmnZLF5uApple Podcasts https://podcasts.apple.com/de/podcast/technikquatsch/id1510030975 00:00:00 Herzlich willkommen zu Technikquatsch Folge 264! 00:03:22 AMD Radeon RX 9070 GRE bei Computerbase und PCGH getestethttps://www.computerbase.de/artikel/grafikkarten/amd-radeon-rx-9070-gre-china-test.93409/https://www.pcgameshardware.de/Radeon-RX-9070-GRE-Grafikkarte-281249/Tests/Review-Benchmarks-Details-Performance-1474877/ 00:12:16 Wie siehts mit Intel ARC B770 (Battlemage) aus?Gamers Nexus: Help Us, Intel. You're Our Only Hope https://www.youtube.com/watch?v=NlAXGl7iQFI 00:18:33 30 Jahre mp3: überholt und nicht wegzubekommenhttps://www.teltarif.de/30-jahre-mp3-erfindung-erlangen-fraunhofer/news/99072.html 00:22:02 Musikempfehlung von Mike: The Halo Effect https://www.thehaloeffect.band/ https://open.spotify.com/artist/2qvK5iLLoDV5mJeAvh5uka;Mo: Mittel Alta https://open.spotify.com/artist/2QjjVXLHTBPbpM18ftwvYV und Kanonenfieber https://open.spotify.com/artist/5VI8SBEX7uSvoHsdI5xNVJ 00:37:00 Meep hat Jurassic World Rebirth gesehen und zum allerersten Mal den ersten Jurassic Park 00:59:45 Mo schaut wieder Beauty and the Nerd (wir wissen auch nicht warum) 01:01:09 Kurzeindruck: Ducky One 2 65% mit Cherry MX Brown 01:05:36 Kurzeindruck: Maus Rapoo VT0PRO 01:07:04 Die Drei Arten Öl, die man zuhause haben muss: Silikonöl, WD-40 und Ballistol 01:15:51 Mückengeschichten, Hitzestick und Elektroschocker 01:21:14 Kairosoft Pro Wrestler Story, Sekiro und Animal Crossing 01:27:55 Mo und der Souvenirshop vom Colloseum 01:29:31 Long Slow Goodbye (mit James Bond)

72. puljski filmski festival, ki se med drugim odvija v najlepšem kinu pod zvezdami, kot pravijo, v puljski areni, je na vrhuncu. Gre za nacionalni festival, ki pa vse bolj postaja regionalen. S sekcijami, ki predstavljajo koprodukcijske filme, je vse zanimivejši tudi v mednarodnem smislu. Najprej gremo torej v Pulj, potem pa še v Maribor, kjer v Sodnem stolpu svoja dela pod naslovom Rosa. Zemlja, Kozmos predstavlja umetnica, skladateljica in raziskovalka na področjih bio-, geo- in hidroakustike Petra Kapš.

When it comes to relationships, women don't actually compete with other women for men's attention. Ultimately, her only competition is his solitude: the degree to which he enjoys his own company. Some men are so self-loathing that they will endure even disrespect or abuse, if the relationship succeeds in taking them away from themselves. This is why men end up in bad relationships. On the other hand, those who value their solitude maintain much higher standards when it comes to interacting with others. Join my community: https://the-captains-quarters.mn.co Buy my book, "The Value of Others" Ebook: https://amzn.to/460uGrA Audiobook: https://amzn.to/3YfFwbx Paperback: https://amzn.to/3xQuIFK Book a paid consultation: https://oriontarabanpsyd.com/consultations Subscribe to my newsletter: https://oriontarabanpsyd.com Social Media TikTok: https://www.tiktok.com/@oriontaraban Facebook: https://facebook.com/profile.php?id=100090053889622 LinkedIn: https://www.linkedin.com/in/orion-taraban-070b45168/ Instagram: https://instagram.com/psyc.hacks Twitter: https://twitter.com/oriontaraban Website: https://oriontarabanpsyd.com Orion's Theme: https://www.youtube.com/watch?v=WrXBzQ2HDEQ Thinking of going to grad school? Check out STELLAR, my top-rated GRE self-study program based on the world's only empirically-validated test prep system. Use the code "PSYCH" for 10% off all membership plans: https://stellargre.com. Become a Stellar affiliate and earn a 10% commission for every membership purchased by a new student you conduct into the program: https://stellargre.tapfiliate.com. GRE Bites: https://www.youtube.com/@grebites4993 Become a Psychonaut and join PsycHack's member community: https://www.youtube.com/channel/UCSduXBjCHkLoo_y9ss2xzXw/join Sound mixing/editing by: valntinomusic.com Presented by Orion Taraban, Psy.D. PsycHacks provides viewers with a brief, thought-provoking video several days a week on a variety of psychological topics, inspired by his clinical practice. The intention is for the core idea contained within each video to inspire viewers to see something about themselves or their world in a slightly different light. The ultimate mission of the channel is to reduce the amount of unnecessary suffering in the world. #psychology #dating #relationship

Ben and Nathan weigh the pros and cons of taking the GRE versus the LSAT for law school, especially for applicants like Anissa who are stronger in math. They question whether law school is the right path given her investment banking background and STEM strengths.Read more on our website. Email daily@lsatdemon.com with questions or comments. Watch this episode on YouTube!

Diese Woche setzt CB-Funk den Fokus auf einen ganz besonderen Test: Den der AMD Radeon RX 9070 GRE. Bisher nur in China, Taiwan und Hongkong zu haben, sitzt das GRE-Modell zwischen Radeon RX 9070 und Radeon RX 9060 XT. Das ist per se kein Hexenwerk, denn beim Preis (200+ Euro) und der Leistung (+50 Prozent) trennen die verfügbaren Varianten Welten. Aber wie gut erledigt die RX 9070 GRE den Job als Lückenfüller? Und kommt sie wirklich in derselben Form auch in Deutschland auf den Markt? Fabian und Jan besprechen Wolfgangs Test, der parallel zu einem Artikel bei PCGH am Freitag erscheinen wird, bereits im Detail. Viel Spaß beim Zuhören!

Mariborsko območno združenje Rdečega križa in Mariborska kolesarska mreža sta to poletje zagnali projekt »Sklenimo krog«. Gre za zbiranje odvečnih koles, ki jih bodo tudi s pomočjo prostovoljcev obnovili in namenili socialno šibkejšim. S projektomom pa želijo tudi preprečiti, da odvečna kolesa končajo kot odpadek!

V tokratni oddaji najprej o novem Muzeju tovorništva in prevozništva v Senožečah, ki so ga vzpostavili v tamkajšnji mitnici. Predstavljamo zvočno knjigo Mesto v zalivu tržaškega pisatelja Borisa Pahorja, ki je izšla pri ZKP RTV Slovenija ter vas vabimo v SNG Nova Gorica, kjer gostuje Madžarsko državno gledališče iz romunskega Temišvara s predstavo 1978. Gre za sedmega izmed dvanajstih gledaliških projektov Dodekalogije v režiji Tomija Janežiča.

Register here for the live online event to learn about ‘Unlocking BRRRR Deals in Little Rock on Thursday, July 17th at 8PM Eastern. Keith discusses the competitive nature of short-term rentals (STRs) and the need for hosts to offer luxury amenities to attract guests. Long time investing pro, Alex, joins us to cover the BRRRR strategy in Little Rock, Arkansas, an investor-advantaged market, emphasizing its low property taxes and stable cash flow. They explain the BRRRR process, including: buying, renovating, renting, refinancing, and repeating.  The strategy allows investors to scale their portfolios with minimal initial capital, offering a 0% management fee in year one and 4% in year two.  Resources: Register here for the live online event to learn about ‘Unlocking BRRRR Deals in Little Rock on Thursday, July 17th at 8PM Eastern. Show Notes: GetRichEducation.com/561 For access to properties or free help with a GRE Investment Coach, start here: GREmarketplace.com GRE Free Investment Coaching: GREinvestmentcoach.com Get mortgage loans for investment property: RidgeLendingGroup.com or call 855-74-RIDGE  or e-mail: info@RidgeLendingGroup.com Invest with Freedom Family Investments.  You get paid first: Text FAMILY to 66866 Will you please leave a review for the show? I'd be grateful. Search “how to leave an Apple Podcasts review”  For advertising inquiries, visit: GetRichEducation.com/ad Best Financial Education: GetRichEducation.com Get our wealth-building newsletter free— text ‘GRE' to 66866 Our YouTube Channel: www.youtube.com/c/GetRichEducation Follow us on Instagram: @getricheducation Complete episode transcript:   Automatically Transcribed With Otter.ai    Keith Weinhold  0:01   Welcome to GRE I'm your host. Keith Weinhold, anymore when you own short term rentals like Airbnbs and vrbos, you are in an all out arms race competing to provide amenities like never before. Then what happens when you take the popular burr real estate strategy and overlay it with one of the most investor advantaged markets in all of America. It's a lucrative opportunity. You'll see how and why today on get rich education.    Keith Weinhold  0:32   Mid south home buyers, I mean, they're total pros, with over two decades as the nation's highest rated turnkey provider, their empathetic property managers use your ROI as their North Star. So it's no wonder that smart investors just keep lining up to get their completely renovated income properties like it's the newest iPhone. They're headquartered in Memphis and have globally attractive cash flows, an A plus rating with the Better Business Bureau, and now over 5000 houses renovated their zero markup on maintenance. Let that sink in, and they average a 98.9% occupancy rate, while their average renter stays more than three and a half years. Every home they offer has brand new components, a bumper to bumper, one year warranty, new 30 year roofs. And wait for it, a high quality renter. Remember that part and in an astounding price range, 100 to 180k I've personally toured their office and their properties in person in Memphis. Get to know mid south enjoy cash flow from day one. Start yourself right now at mid southhomebuyers.com that's mid southhomebuyers.com   Speaker 1  1:58   You're listening to the show that has created more financial freedom than nearly any show in the world. This is get rich education.   Keith Weinhold  2:14   Welcome to GRE from North Conway, New Hampshire to North port, Florida and across 188 nations worldwide. I'm Keith Weinhold, and this is get rich education, happy July, the second half of the year. And my favorite month of the year is your Airbnb fancy enough, because anymore STRS short term rentals have gotten so competitive that hosts treat their properties like white lotus level hotels. Now, STRS were never passive, but they become even less so it is active income. Once upon a time, Airbnb hosts could just sort of drop a few colorful throw pillows on their fold out couch and make a killing. But no more those days are so far gone. The STR game has changed drastically. I mean, you used to be able to list a basic home with generic furniture that you got at Costco, minimal amenities, no Wi Fi, and still get it booked, but today, it will sit empty unless you offer more than just a place to sleep. You have to build an experience for Airbnb guests. Now, increasingly, hosts are doing things like adding outdoor kitchens, arcade machines, putting greens, even basketball. And now, though these upgrades do cost a lot up front, they can pay off. These amenity types can double your nightly rate, but they come with more responsibility and more to maintain. I mean, more guests are expecting a flawless experience. The trend is that Airbnbs are becoming full scale hospitality operations, and if you don't treat it like one, you're going to fall behind. So simply having a nice house that just no longer cuts it, running a short term rental today is nothing like it was even two or three years ago. You used to be able to stand out with a decent bed and colorful throw prolos, but now guests are basically comparing your place to boutique hotels. Hosts are deeply investing in design, forward furniture, layered lighting and featuring spaces that some market as what they call moments like cozy reading corners in these luxurious bathroom setups, adding things like welcome guides and even complete brand identities with a proper. Name and even a logo and a story to give the place some personality, even writing up a history for your property, even if it's not that historic. Now, these sorts of tactics, they actually do, seem to work. Guests will give you more bookings, better reviews, and guests even share the space on social media like it's somewhat of a lifestyle destination now sometimes STR hosts, they team with these other platforms to add welcome champagne in ice buckets on site, sommeliers, private chefs, daily, housekeeping on demand. 24/7 textable concierges, heated plunge pools and other amenities through you partnering with some of these platforms and these upgrades don't come cheap. The publication called the playbook, they featured an STR in Sag Harbor, New York, where the property owner invested $85,000 into overhauling the landscaping and adding a James Turrell Inspired LED light installation. But overall, these improvements boost rental revenue by an average of 40% over what the property was collecting previously. All right, so this is a case study now, though, this STR trend of offering deep hospitality and luxury amenities has turned into more of a job and less about passive income. You know, really, this is free market capitalism, because this is competition to see who can provide the best service at the lowest price, but that's what it is. So this is making real estate less of a good and more of a service. Short term rentals soaring supply, day rate compression and AI driven pricing tools. That means that the just this all nice house with good photos thing that no longer cuts it. It is an amenities arms race now, and of course, this is a national trend. It doesn't mean that it's happening absolutely everywhere. In some places, hosts are able to charm guests simply with something like a freshly baked loaf of banana bread, but the consensus is whether they spend a little or a lot, Airbnb hosts unanimously say that they've got to work harder in order to keep guests happy. It's become more of a business and less of a side hustle than it used to be. You've got more hosts leaning into higher upfront investments because they know guests will pay for a sort of turnkey, Instagrammable experience. And this really is a classic early adopter issue, just like a lot of things, Airbnb launched in 2007 by the way, so this sort of first wave of Airbnb hosts back around 2012 to 2015 they were riding a blue ocean back then. There was virtually no competition. There weren't any standards, and there were plenty of bookings, and that made a lot of hosts pretty fat and happy. But that's not where we are now, really. The bottom line is that in many markets, short term rentals have transitioned from partial passivity to all out hospitality. That's the Airbnb arms race. The average Airbnb nightly rate for North America. Do you care to venture a guess at the average nightly rate? It is approximately $216 per night, and that right there is up 26% from 2020 so it is not up as much as house prices over that five year period from 2020 really, the Airbnb rate is up about as much as the long term rental rate.    Keith Weinhold  8:58   While we're talking numbers a quarter recently ended. Let's hit on our asset class rundown. What's happened to home prices in the past year? Well, when you aggregate all these sources, Zillow, Freddie, Mac case, Shiller, FHFA, in totality, home prices are up 2% single family rents are up 3% apartment rates are down 1% due to their oversupply. The 30 year mortgage rate was 6.9% a year ago, and it's 6.8 now. CPI inflation is 2.4% expressed in year to date terms. Now the SP5 100 is up 5% in the first half of this year, ending near 6200 the dollar is down. That means that it takes more of them to buy gold, which is over $3,300 an ounce, gold is up 27% just from the start of this year, and the oil price is still depressed in the 60s. Per dollar for a barrel, Bitcoin still strong, ending the quarter at 106kthat's your asset class rundown, which we do about quarterly.    Keith Weinhold  9:57   Hey, I really enjoyed meetingside. Of you on this year's terrific real estate guys Investor Summit at sea was concluded about a week ago. It was two days on land in Miami, followed by a week of conferences and fun aboard a Caribbean cruise ship. I really got to meet you and get to know you, because we had nine days together, and as one of the faculty members, I hosted a table at dinner every night, and each night the attendees rotated around to my table, so I got to meet a lot of you and really get to know you, and you got to know me. Yeah, it was as interesting for me to meet you in person, perhaps, as it was for you to meet me, because I like to hear what you're doing in real estate, investing, in everything else. I gave a main stage presentation that was almost an hour of all me, all GRE and also served on five different panel discussions. Oh, it's such a unique event. Get this, I was kind of dressed up to give my main stage presentation, which so many of you, by the way, told me afterwards, that that was your favorite presentation of them all, all week long, because each faculty member made a main stage presentation. But what I want to tell you is, just a few hours after I presented, on the cruise ship, I was shirtless in the water throwing a football around at the beach in St Thomas Virgin Islands. What an event. Fantastic to meet a number of you in person. So far today, I hope what I've shared with you has been informative. Next. It's something informative and really actionable that you can make lucrative that's next. I'm Keith Weinhold. You're listening to get rich education.    Keith Weinhold  11:45   The same place where I get my own mortgage loans is where you can get yours. Ridge lending group and MLS, 42056, they provided our listeners with more loans than anyone because they specialize in income properties. They help you build a long term plan for growing your real estate empire with leverage. Start your pre qual and even chat with President Caeli Ridge personally, while it's on your mind, start at Ridge lendinggroup.com. That's Ridge lendinggroup.com.    Russell Gray  12:16   You know what's crazy your bank is getting rich off of you, the average savings account pays less than 1% it's like laughable. Meanwhile, if your money isn't making at least 4% you're losing to inflation. That's why I started putting my own money into the FFI liquidity fund. It's super simple. Your cash can pull in up to 8% returns, and it compounds. It's not some high risk gamble like digital or AI stock trading. It's pretty low risk because they've got a 10 plus year track record of paying investors on time in full every time. I mean, I wouldn't be talking about it if I wasn't invested myself. You can invest as little as 25k and you keep earning until you decide you want your money back, no weird lock ups or anything like that. So if you're like me and tired of your liquid funds just sitting there doing nothing, check it out. Text family to 66866, to learn about freedom. Family investments, liquidity fund again. Text family to 66866.   Russell Gray  13:30   Hi. This is Russell Gray, co host of real estate guys radio show, and you're listening to get rich education with Keith Weinhold, don't quit your Daydream. You Keith,   Keith Weinhold  13:38   welcome back to get rich Education. I'm your host. Keith Weinhold, we're talking to a guest not only about an investor advantaged market, but when you overlay a certain strategy with it, this can be highly lucrative for investor returns, and we're with a long time investing pro Alex, welcome onto the show.    Alex Craig  14:04   Hi Keith, thank you.    Keith Weinhold  14:05   Well talking about top US cashflowing market, let's get right to it. Tell us about yours.   Alex Craig  14:11   Little Rock, Arkansas. It's a market that we've been in since 2012. I personally invest there. I've got about 75 doors of multi family, single family. And the reason why it works is just cash flow. Over the years, we've had investors from around the country that have owned portfolios where maybe they're somewhere in Phoenix or Dallas, where they're kind of speculating. This is not a speculation market, and that's why it works for myself. It's consistent. It's very linear, and linear is a word that we use a lot to describe. And if you're going to be a cash flow investor, and that's why I'm in it, it's you want a linear market. You don't want ups or downs, and then you want to make sure it's a growing market too. And Little Rock checks all the boxes of what you would want in a stable cash flow environment market.   Keith Weinhold  14:57   And I think a lot of our investor listeners are. Already pretty keen on that. You get a high ratio of rent income to purchase price. You have laws that heavily favor landlords over tenants. But Alex, in today's environment, people are more conscious about rising operating expenses and higher mortgage expenses, and that's really one advantage that Arkansas can give right now, is with those low property taxes   Alex Craig  15:20   Keith,it's so interesting you mentioned that because I did have a conversation with a client of ours that had a property in another market that he had mentioned how his property taxes had gone up and gone up substantially, which that's to expect. I mean, after COVID, there was a lot of markets saw a huge boost, especially with markets that saw hedge funds come in. Hedge Funds, I believe, ruined a lot of markets, raised the prices. And another reason I like Little Rock, it flies under the radar. You think is Little Rock is a small market, but it's really not. It's, I mean, the population of the city is 250,000 but the metro area, which is a 50 mile radius around Little Rock, is much bigger. And the entire, not only the entire market, metro area, feeds off little rock, really, the entire state does too. But that being said, because it's floating under the radar, the property tax have remained low. They've taken a little bit of bump over the years, because the values steadily go up, but they started low anyway. So with operating costs of insurance, insurance has gone up for a lot of for my own properties in other markets, it's going up, and it's going up in Little Rock too. I mean, it's just the name of insurance, but property taxes have remained low. They've always been low, and that's really a big help as to why this market works for us.   Keith Weinhold  16:30   Talking about flying under the radar, you're talking about, therefore evading a lot of that hedge fund money. Tell us more about the market and some of those anchors and drivers.   Alex Craig  16:40   It's a blue collar town. You've got logistics. Is a market, or is a segment of the industry that has really come on strong over the last few years, Amazon has really put a footprint in the market. Healthcare is a huge, huge market, like I mentioned earlier, not only does the region feed off the direct to the entire state, it's the hub of healthcare for the entire state of Arkansas, of course, it's government. Government provides a lot of jobs. The good thing about government jobs is they're maybe not on a national level anymore, but on a local, state level, they're very it's hard to get let go from a government job, unless now, not on a federal level, but it's very steady, so a lot of steady blue collar jobs, and that's what you want for a strong resident base, especially in the type of properties and 1000 to $1,200 price range, you want those blue collar study growing jobs.   Keith Weinhold  17:31   Yes, you do have those there. It's funny. I'm smiling a bit because I used to be a state government employee, and there's just no way that they ever would have fired me. I was so protective I had to quit in order for them to have to replace me at that job. I'm wondering about the new supply that's come on, Alex, because a number of markets have added supply. I know, for example, that Redfin reports that little rock median home price appreciation is up 7.3% year over year, and with the dynamics going on in the market recently, that typically tells us that there hasn't been that much new supply added. Is that what's going on there?   Alex Craig  18:11   No, there hasn't been a lot of new supply. I just think with little rock and every other market, the mortgage rates have gone up. Home ownership is down during COVID. It was really hard to get an investment property. For what we did, sending out our list every week. It was basically send out our properties, people hitting send and not even knowing what they were reserving. Rates were just low, right? Everybody's jumping in. It was hard to get inventory. So now what we have is, you know, higher rates that scares some people off. It pushes some people out on the market, but it also creates opportunity. I feel like this is the easiest time I've been investing in real estate since 2007 that was the foreclosure crisis, Great Recession, and it was a lot of foreclosures on the market, and that's how I built a big chunk of my portfolio. But now it's just a matter of there's not as many people in it. So for us, there's just more acquisitions for us to go out and get. There's still distressed homes on the market where individuals don't want to hire a realtor, they just want all cash offers. They're ready to get rid of them, and that's where we step in. And without as much competition like I said, we kind of fly under the radar. I feel it creates more just supply inventory for us and for me as an investor, but also for our clients too   Keith Weinhold  19:23   with that in mind, and again, a lot of our audience is already on board, knowing that little rock in Arkansas is a good cash flow market with stable, long term fundamentals, but in order to make it more profitable, you've overlaid it with a certain strategy there in Little Rock. Tell us about that.    Alex Craig  19:45   So the BRRRR strategy, yes, it's able to work now because there's not as many buyers in the market. So basically, the way the burrs strategy works is we acquire a property. I'm just going to use very round, simple numbers for simple math makes it easier on me   Keith Weinhold  19:58   and we're talking the BRRRR. Strategy that's buy, renovate, rent, refinance, and repeat. Those are the five investor steps.   Alex Craig  20:07   correct. And so that's what we do, is we buy. Let's just say the B. Let's take the B, for example, we buy a home, and we buy it for 60,000 where I'm just talking like if I own the home, and then I put $20,000 into the deal. So now I'm all into it for 80,000 and you have to remember, there's some in between, cost of closing costs. I'm just talking just very general strategy. You buy it for 60, you put 20 into it, and all of a sudden you're in it for 80, and the value comes back at 100 so you're in it for 80% of the after repair value. Most Fannie Mae lenders will do 75% so if you purchase a house outright, you put 20% down, but if you are doing a refinance, you're able they'll do it at 75% so instead of buying a home and putting it down payment upfront, you're using equity in the deal. And that's what the burst strategy is, buy renovate. So we buy it, we renovate it, we refinance it, we rent it out, and then you repeat it. So it allows for investors to scale their portfolios quicker and stretch their money a little bit further. So if you've got, I've got $50,000 and I want to invest in real estate, if you purchase a home, you're bound by the down payment. Once you put that down payment, it's, I wouldn't call it sunk cost, but that money's gone for reinvesting. The burr model allows you to stretch that money a little bit further. Now, like I said, I gave pretty basic numbers to the deal, but that's what you're going for. Some equity in the deal, and that's what we're able to provide for ourselves and for our clients.   Keith Weinhold  21:38   So let's review that numbers on a little rock burp, making a $60,000 purchase with a pre renovated property. Then the investor puts another 20k into it for the renovation. So now they're all in for 80k and they get a 100k appraisal on that property, and then they can borrow, say, 75% of that there, that is the refi portion, the fourth letter of the BRRRR acronym. So therefore they've got 80k into it, and they got 75k back, meaning they would only have 5k into it, but maybe another 5k for closing costs, and now they only have 10k in to a 100k property. That's the appeal. That's what we're talking about here with the BRRRR   Alex Craig  22:22   strategy. I mean, you're exactly right. And as I mentioned, I use some really basic numbers, because when you're using, you know, 100,060 and 20 makes them very basic. It's pretty hard to find out a deal worth 100,000 these days, even when we started in the industry, 100,000 was a pretty cheap after pair value. Probably the mean value of the homes that we're dealing in is probably about 140 to 140 to 160 but same principle, based on those same logic that what we just talked about, I wouldn't say, you know, five or 10k out of pocket, but if you're talking about purchasing a deal with 25% down versus doing a bur you're probably going to be in it at 15% Out of pocket costs 10 to 15% as opposed to putting a down payment of 25% but the big thing is, you're getting money back, and you're not putting as much so just it's great for scale. I don't know if you'll talk about DSCR lending very much on your show, but that's something that a lot of our clients, and that does 80% so we have a lot of clients going that route now too.   Keith Weinhold  23:21   Okay, so you could do 80% with debt service coverage ratio loans, but to drop back in our example, to help be clear, the investor has 80k of their own skin in the game into the property, 60k for the purchase, 20k for the renovation, even though they only have 80k in it appraises for 100k that ARV, that after repair value. Why is the after repair value 100k when you only have 80k into it? Why is it more?   Alex Craig  23:49   that's based off comparable sales? So when you're in it at 80, and you're going to refinance it through a lender, they're going to send an appraiser out, and appraiser is going to pull comparable sales within that neighborhood. So just because you're in an 80 the appraiser is going to go pull three comps, very similar to that home. So if we're selling a three bedroom one bath, they're going to pull three comps at a three bedroom one bath, relatively the same size look, if it's got a carport, they're going to try to find three houses with the carport. So in theory, that's what they're doing. They're pulling comparable sales and developing new value based on recent sales.   Keith Weinhold  24:23   So it's that you have this knowledge to buy in neighborhoods and buy in certain sub markets, where, when you know that capital is added and renovations are made and a rehab period that they do tend to appraise for that value based on the comparables that are already there.   Alex Craig  24:40   Yeah. I mean, if we were to take the same house at 60,000 and didn't do any work, he would then say, well, you've got some comparables here versus 100 but you could never sell this home for 100 these are the things you have to do, and that's what we do during the first R the renovate of the acronym is to renovate the home to the condition that the. Appraisers feel that are comparable for the neighborhood, and that's a real important part, is comparable to the neighborhood. We could go in and put in a Jacuzzi tub and grain of countertops. We actually, we do put a lot of grain in, because we get it so cheap. But you could go in and fix it up to the nines, but it's not going to appraise for any more than the others, because the appraiser would say, we over improved it. So we improve it to what we know, what the kind of the standard for the neighborhood? Because you could over improve these things for sure and not get that return on that investment.   Keith Weinhold  25:28   That is a great answer. There is a specific improvement target that you know that needs to be hit. Tell us more about this burr process, because to an out of area investor, it can sound pretty intimidating if they had to manage contractors remotely themselves,   Alex Craig  25:43   there definitely is a need to have a team on the ground that you trust, that you feel comfortable with, and that's what we've done. I've been doing it in multiple markets for myself since 2007 and we built into a business model in 2010 like I said, expanded Little Rock in 2012 and we've been doing this for 15 years now for other investors. So we've got that name and that reputation of taking care of our investors, that's the important part. And we do see a lot of investors get burned, because you can find a realtor to go to help you find deals, but usually the realtor relationship is thesis to end. It's okay, I found you a deal, but then there's so many other things afterwards, and the renovations, where I see so many people get burned, and you know, we manage approximately 1200 homes between two markets, and that's where I see when property owners come to us, they've been burned the most. It's like they've paid somebody $50,000 they didn't finish the job, they didn't do what they say they're going to do. So the renovation that we're the team on the ground, we've got a in House Project Manager, we've got a network of subcontractors. We tend to act as the contractor, subbing things out. We've got in house property management. We've got all the tools, but it's really between both. In the markets in which I operate. I've got about 30 employees within property management, renovations, acquisitions, so the team on the ground is and then the back in the property management part is the long, ongoing accountability. So if something doesn't work out, that's the way we said it. If we say it's going to rent for 1200 and we rent it out for 900 Well, we really got a big egg on our face. You do a few of those, and that's how you don't stay in business anymore. And there's, and I like to say, about every five years the market corrects itself into getting the wrong players out of the business. COVID was super easy, easy to find deals, easy to sell deals. But once the market changed and it became a little more competitive and rates rose, that's the people that have been around for the long time, been in it for the long haul, that stick around. They've got the established business model and their reputation. So every five years, a good correction in the market eliminates those bad players.   Keith Weinhold  27:47   So you have this vetted, proven in play system that investors can get into besides just identifying the property, it comes with that system, those contractors or that investor just has one point of contact with you there for updates on the renovation.   Alex Craig  28:03   Yeah. I mean, I feel like we know these neighborhoods. I like I feel we know these neighborhoods like the back of our hand. We've been investing in them for a decade plus, and we know the areas you want to be in, the areas you don't want to be in. And we have a lot of investors will call us either they already own the property or they're a current client, and they'll say, Hey, I could get this deal for 30,000 and it's worth 100 and I'm like, Well, that sounds too good to be true, especially if it's on the open market. If it was that good of a deal, it's already gone. We just know the market, where to be. We know what to pay. We could, pretty much just through our experience, identify a house we know probably within about five to 10% before we even dive into comparable sales of what it's worth. We could walk through a house within probably about three to five minutes and peg the renovation costs probably within about 10% now we still order an inspection, and that's where we uncover the things that we can't see, that maybe there's a bunch of rotted out joist or a foundation problem that we didn't see. So, but there's things aside we could walk through and we pretty much know, okay, it needs a roof that's 7000 it needs an air conditioner that's six flooring, two. So that's the expertise that we bring and like. So then the management part of it, on the back end, that kind of ties it all together with accountability.   Keith Weinhold  29:22   And I know that your typical project renovation cost tends to be about 25k just for simplicity, we use 20k in that example, and your completion times are shorter than others that have inexperienced crews. So tell us about that typical renovation time. Alex.   Alex Craig  29:39   every day we're accomplishing 500 so 25,000 divided by 500 comes to 50 days, 50 days. So we'll knock that out in about 50 days. And we just have a large network of subcontractors that we've been working with for years. If you weren't in the business, I think that'd be really hard to accomplish, and there's just a lot that. Goes into it. I mean, the renovating the homes, it's the once, it's the worst, it's the hardest thing that we do. For sure, it's definitely the most scheduling, but it's where, if you don't know what you're doing, a great deal turns into, how do I get out of this?   Keith Weinhold  30:15   Right, absolutely. Now, in our example, we used where an investor puts 60k into it for the purchase to start with, because I see the burst strategy is a good strategy. If someone doesn't have a lot of capital, like they would for maybe a new build property, can one even finance that initial purchase amount?   Alex Craig  30:35   Yeah, so private lending. So that's the part that makes if you've only got 50 grand to facilitate this entire process, and you want to try to repeat it as many times as you can. 50,000 would not be enough just to pay cash. So yes, we have private lending. We set that up. Sometimes we lend it ourselves. Sometimes we outsource it to some of our strategic partners, but we'll lend the money to buy and renovate the home. A typical what that loan would look like it's about 3.3 points of loan origination. So if you've got an $80,000 loan, that's $2,400 most lenders do require for you to bring that up front, and now you're in it for an $80,000 loan at 12% which, five years ago, that sounded crazy to borrow at 12% but with for private lending, that's not bad at all, especially you want to get in and out of it quickly. So if we're renovating the home, and you know, 50 days, if you're already pre approved with your lender, and they have all your documents by the time we finish renovating the home, the appraisals lined up, and you could be in and out of these private loans in about 90 days. That love that depends on the lending side, that you're giving the lender what they need. But ideally you want to be in these things about 90 to 120 days. So $80,000 loan at 12% that $800 a month. So if you're in it for 90 days, 800 times 320, 700 plus the loan origination fee. But that's how you do it. That's the you're just borrowing money to finance the acquisition, the rehab and the refinance   Keith Weinhold  32:03   that is an option for you if you don't have the cash here to come in with these burr strategy properties. Alex, tell us more about it. Really, what I would like to know is, when an investor gets their appraisal, their after repair value, how many want to sell it for a profit, and how many want to hold it with a tenant for long term income   Alex Craig  32:26   so far, zero. Want to sell it for a profit. If you're all in it for add and then you're selling for 100 once you sell it, there are other fees involved. You got to hire a realtor. Right now is a great time to hold it's a slow real estate market. I don't think Little Rock from an aspect, is where home ownership is down. I think that's a nationwide thing. So I think if you're going into this, you certainly want to look at it from perspective. This is a buy and hold. I don't think this is the best market to get into to buy something. Flip it with a in the example, we use a $20,000 margin with buyer concessions, realtor commissions. That's a lot of work involved. And let's just say it did work out. You sold it for 100 but you had to pay 2% closing in an agent fee, and you got some holding cost. Let's just say you netted 8000 that might be good for a six month return, but I feel like there's a lot of risk. I feel like our job as what we do for our clients, is to minimize risk. So someone came and said, Hey, I want to flip it. I would say, Well, I don't think it's the best market for it right now. I think you want to get into this buy and hold.   Keith Weinhold  33:29   Yes, Alex has been doing this for a long time, and he's a specific expert right there in that local market. Buy and hold is a strategy that most likely makes sense. And he also strongly recommends pay cash if possible, instead of using that 12% short term private lending option, like he mentioned before, because that can cut out about four to 5k worth of transactional cost. And then if you do buy and hold what Alex and his company offer there in Little Rock is essentially a cash flow boost, 0% management fee in year one and only 4% in year two. So that gives you some extra cash flow runway as well. And Alex, before I ask you if you have any last thoughts, I want to announce to you the audience, that we have a live event virtually next week, on July 17, at 8pm eastern for Little Rock BRRRRproperties that Alex is CO hosting with our investment coach, Naresh, where you can find these bird deals in this cash flowing market. In Little Rock you'll see actual bird deals recently completed with full breakdowns of their purchase prices, sort of these case studies, where you can see some real numbers and what the rehab budgets are and what the actual timelines were, and what the refi outcomes were like, and explore BRRRR ready properties that are currently available to own, if you so choose, on this upcoming live event that you can attend from the comfort of your own home. Learn the full process, from acquisition to renovation to property management to the financing of them, and again, everything is all handled by local experts, so that you don't have to live with the nightmare of remotely managing contractors, which I couldn't imagine doing. So whether you're a first time investor or you're scaling your portfolio, this is your chance to get boots on the ground, insight and a proven road map to burr success and really one of the most accessible markets in the country. Again, Alex here is CO hosting the event along with GRE investment coach, Naresh Vissa. It is a free, live virtual event again next week, Thursday, July 17, at 8pm Eastern. Sign up is open now at gre webinars.com it ought to be great. Alex, teaming with local experts like you has been of real benefit to our audience. Do you have any last thoughts about either Little Rock or burrs or the events that you're going to co host with our audience next week?   Alex Craig  35:57   So here's my last thought, as you were, you know, kind of concluding and I was reviewing what we had talked about. And one of the questions we get sometimes it's a fair question. It's like, well, if this is such a great deal, why don't you keep all the deals? So we hear that from time to time, and the simple answer is, we do. We do keep a lot of deals, and we're buying more real estate now, like I said, I feel like it's the easiest time to get into real estate. So we do, we do keep a lot. We're building a very large portfolio right now, but the house flipping to investors is just another business model that we have. And Property Management too. And we love property management, and we love building investor relationships. We've had a lot of investors we've had been with us since day one that we've developed really tight relationships with. So yes, we do keep a lot of the properties, and we sell properties too, and we and helps us build our management company, which you don't hear too many people say this, but we actually love property management. That's a hard thing to love, but we actually like it.   Keith Weinhold  36:54   That is more weird than Tom wheelwright loving taxes, perhaps, but Right. But I want to deal with somebody that really loves what they're doing, especially when they're protecting our asset and probably more importantly, when it comes to property management, protecting our time. So that's right, Alex, well, our viewers and listeners are really looking forward to it next week, again, that live event Thursday, July 17, at 8pm Eastern is something that you can sign up for now at grewebinars.com. Alex, we're looking forward to it next week.   Alex Craig  37:27   Bye, Keith, thank you.   Keith Weinhold  37:34   Oh yeah. Terrific overview on why the burr strategy can be so profitable. And our event next week. Now, when you rent your primary residence, which you would typically do in a high cost area, and then you own rental property elsewhere, typically a low cost area, do you know what that's called? Yeah, there is a name for that. Last week we spoke to two listener guests in California that are doing just that. That is called rentvesting. And yes, Little Rock is surely a popular low cost market for rentvesting. I have been on the ground myself in Little Rock with Alex's associate to do an on the ground tour of properties. There you want to tap into a system where you've got the guiding hand of both experience and belief. That's what you're doing here. As like he said, Alex personally owns 75 doors there. That is belief, and he's been doing this for out of area investors for 15 years. That's the experience part real proof of concept at next week's event, you'll be introduced to this same system where you can lean on their team for acquisition, renovation and management. Little Rock has an MSA population of about 770,000 but I think more importantly today, savvy investors are conscientious of keeping their expenses down, and for good reason, since they've been up all over the place. Now, the purchase price is 140 to 160k for these BRRRR optimized single family rentals. Remember that we used 100k just for ease of an example there, usually when you buy income property, you're really in at close to 25% of the purchase price when you add up the down payment and closing costs, but this way, you're in for just about half of that at 10 to 15% another low expense is that property tax, statewide, Arkansas Property Tax is just 610 of 1% so that's half the national average. And then your management expense is definitely going to be low for the first two years, because it is 0% in year one and 4% in year two. And these are properties that you can actually be pretty proud of. You'll learn more about this. Scope of work with a renovation on the webinar, often granite countertops in the kitchen is a live, remote event. So this means that you can have any of your questions answered in real time. Should you have them? As you can imagine, demand is high for these properties, and this is a chance to get connected directly with the team that makes it happen. We might never get Alex on an event like this again, and is co hosted with our GRE investment coach, Naresh. It's next week. It's free, Thursday, July 17, at 8pm Eastern, 5pm Pacific. Sign up now, or your future self might not be able to forgive yourself. You can do that now at grewebinars.com Until next week, I'm your host. Keith Weinhold, don't quit your Daydream.   Speaker 3  40:56   Nothing on this show should be considered specific, personal or professional advice. Please consult an appropriate tax, legal real estate, financial or business professional for individualized advice. Opinions of guests are their own. Information is not guaranteed. All investment strategies have the potential for profit or loss. The host is operating on behalf of get rich Education LLC, exclusively.   Keith Weinhold  41:19   You know, whenever you want the best written real estate and finance info, oh, geez, today's experience limits your free articles access and it's got pay walls and pop ups and push notifications and cookies disclaimers. It's not so great. So then it's vital to place nice, clean, free content into your hands that adds no hype value to your life. That's why this is the golden age of quality newsletters, and I write every word of ours myself. It's got a dash of humor, and it's to the point because even the word abbreviation is too long, my letter usually takes less than three minutes to read, and when you start the letter, you also get my one hour fast real estate video. Course, it's all completely free. It's called the Don't quit your Daydream letter. It wires your mind for wealth, and it couldn't be easier for you to get it right now just text. GRE to 66866, while it's on your mind, take a moment to do it right now. Text, gre to 66866   Keith Weinhold  42:35   The preceding program was brought to you by your home for wealth, building, getricheducation.com.

In this week's MBA Admissions podcast we began by discussing some of the recent activity on LiveWire, which did include more waitlist movement last week. There is still some considerable uncertainty with respect to enrollments of international students who are waiting for their visa interviews.! Graham highlighted Clear Admit's summer series of webinars, which focuses on top MBA programs' admissions essays, which will be attended by more than 20 of the top MBA programs. The first event is on Wednesday of this week, and includes Berkeley / Haas, Cornell / Johnson, Dartmouth / Tuck, Duke / Fuqua and UPenn / Wharton. Signups are here: https://bit.ly/mbaessay0725! Graham then noted three admissions tips; the first focuses on younger candidates who are targeting top MBA programs; the next two, part of Clear Admit's “Myth Busters” series, discuss applying to b-school if you're over thirty, and whether there is a need for an MBA if you already have a successful career.! We continue our series of Adcom Q&As, which is a yearly series where we interview the admissions leaders at all the top MBA programs; this week we have Q&As from Katy Radoll at UNC / Kenan Flagler and from Naz Erenguc at Florida / Warrington.! Finally, Graham highlighted a Real Humans alumni spotlight focusing on an alum from Yale SOM working as a program manager at Google.! For this week, for the candidate profile review portion of the show, Alex selected three ApplyWire entries: This week's first MBA admissions candidate has a 335 GRE score and is an entrepreneur. They now want to use the MBA to pivot into investment banking.! This week's second MBA candidate has a 3.84 GPA but their GRE is only 312. We discussed the advantages and disadvantages of waiving the test.! The final MBA candidate is a software engineer with a 3.94 GPA. They have a 710 GMAT score, and we are hoping they might retake the GMAT.! This episode was recorded in Paris, France and Cornwall, England. It was produced and engineered by the fabulous Dennis Crowley in Philadelphia, USA. Thanks to all of you who've been joining us and please remember to rate and review this show wherever you listen!

In this much requested episode, I discuss some of the evidence-supported differences in male cheating and female cheating. Among other things, these behaviors tend to differ with respect to relationship satisfaction, motivation, and dimensionality. By examining what makes them different, we can consider some of the divergent ends to which men and women form – and maintain – their relationships. Join my community: https://the-captains-quarters.mn.co Buy my book, "The Value of Others" Ebook: https://amzn.to/460uGrA Audiobook: https://amzn.to/3YfFwbx Paperback: https://amzn.to/3xQuIFK Book a paid consultation: https://oriontarabanpsyd.com/consultations Subscribe to my newsletter: https://oriontarabanpsyd.com Social Media TikTok: https://www.tiktok.com/@oriontaraban Facebook: https://facebook.com/profile.php?id=100090053889622 LinkedIn: https://www.linkedin.com/in/orion-taraban-070b45168/ Instagram: https://instagram.com/psyc.hacks Twitter: https://twitter.com/oriontaraban Website: https://oriontarabanpsyd.com Orion's Theme: https://www.youtube.com/watch?v=WrXBzQ2HDEQ Thinking of going to grad school? Check out STELLAR, my top-rated GRE self-study program based on the world's only empirically-validated test prep system. Use the code "PSYCH" for 10% off all membership plans: https://stellargre.com. Become a Stellar affiliate and earn a 10% commission for every membership purchased by a new student you conduct into the program: https://stellargre.tapfiliate.com. GRE Bites: https://www.youtube.com/@grebites4993 Become a Psychonaut and join PsycHack's member community: https://www.youtube.com/channel/UCSduXBjCHkLoo_y9ss2xzXw/join Sound mixing/editing by: valntinomusic.com Presented by Orion Taraban, Psy.D. PsycHacks provides viewers with a brief, thought-provoking video several days a week on a variety of psychological topics, inspired by his clinical practice. The intention is for the core idea contained within each video to inspire viewers to see something about themselves or their world in a slightly different light. The ultimate mission of the channel is to reduce the amount of unnecessary suffering in the world. #psychology #relationship #marriage

I recently spoke with Katie Azevedo of School Habits. Having taught in both public and private school systems, Katie has seen firsthand how our students are expected to learn, but they are rarely given the tools or strategies to do so. Since 2006, she has personally coached thousands of students, one-on-one, on standardized tests (SAT/ACT, SSAT, GRE), application essays, study skills, executive functions, and writing and reading instruction. Katie works with students in grade 6 through graduate school, as well as adults looking to further their work productivity habits. In our conversation, Katie explains what studying IS and what studying IS NOT. She provides ideas to help students improve their study habits and also discusses how studying in college often differs from the study skills that may have worked in high school. Katie also talks about some of the systems that students need in place to support their study habits. And Katie even tells us about the most overlooked skill that students need for success - and that skill may surprise you! You can access her free training, How to Help Your Student Handle School Like a Pro Without Study Frustration, Assignment Overwhelm, or All the Drama, here: https://www.schoolhabitsuniversity.com/freetraining Finally, please check out Katie's fantastic podcast, Learn and Work Smarter. ---------- Did you know that when our kids turn 18, we lose the legal ability to help them in medical and financial emergencies? If your child is turning 18, whether they are going away to college or remaining at home, please consider getting a Power of Attorney in place. You can use my discount code, ScholarshipCoach20, to take 20% off the total price at Mama Bear Legal Forms. ---------- This Week's Featured Scholarships: $1000 Strong Work Ethic Scholarship $1500 Flavor of the Month Scholarship $1000 MoolahSPOT Scholarship $1000 Courage to Grow Scholarship $2000 Bachus & Schanker Scholarship $1000 Appily Easy Money Scholarship ---------- Unlock your student's potential with the Scholarship Navigator Program, a comprehensive program designed to jumpstart their scholarship journey and provide invaluable ongoing support. With our program, your student will gain access to a personalized list of scholarships tailored to their unique profile, ensuring they can apply for opportunities that resonate with their passions and experiences. But we don't stop there! Your student will receive expert guidance on their scholarship applications and essays, including personalized reviews, constructive feedback, and editing assistance from Dave the Scholarship Coach. Both students and parents can take advantage of direct support for all scholarship-related questions, available through email and exclusive client-only Zoom meetings. We proudly offer Scholarship Navigator programs for college students and high school students in the Class of 2026, Class of 2027, as well as for sophomores and freshmen. Empower your student to seize their future—enroll today!   ---------- Subscribe to our free newsletter, Your Daily Scholarship, here: https://nodebtcollege.substack.com/  

Piše Muanis Sinanović, bere Igor Velše. Alojzija Zupan Sosič je bila literarni javnosti doslej znana predvsem kot profesorica sodobne slovenske književnosti na Oddelku za slovenistiko Filozofske fakultete v Ljubljani. Študentom predava, kako ločevati trivialno od kvalitetnega, kako soditi o književnosti. Pesniška zbirka Drevo delfin je njen leposlovni prvenec, kar pomeni, da se je teorija prenesla v prakso. Objava pesniške zbirke je pogumen korak, v katerem se avtorica sprijazni z zamenjanimi vlogami. Gre za izpovedno naravnano liriko, v kateri gre lirska subjektka skozi imaginarij avtobiografskega jaza in njegove mitologije. Podobe se oglašajo iz nezavednega, črpajo iz spominskih krajin otroštva, se soočajo z mučno sedanjostjo in segajo onkraj, k vzporedni resničnosti simbolnih bitij. Osrednji taki bitji sta drevo in delfin. Sedanjost je mučna, saj se lirska subjektka sooča s krizo osebnih odnosov, partnerskih in družinskih, prevprašuje svojo vlogo matere, žene in ženske. Domišljijsko in izpovedno so pesmi bogate. Svet podob se iz pesmi v pesem na ravni zbirke povezuje v micelijsko romaneskno celoto. Zbirka je torej vsebinsko ena celota, povezana z biografijo lirske subjektke. Na ravni jezika in zvočnosti pesnica učinke dosega s ponavljajočo se ukinitvijo vejic pri naštevanju. Tako se posamezni predikati, ki jih vejica pomensko in emocionalno v slovnici ločuje, združujejo v enega ter tako intenzivirajo in zgoščajo čustvo. Pesnica je isti prijem uporabila v vseh pesmih. V nekaterih deluje izvrstno, v drugih pa dosega manjši učinek. V pesniško dekonstrukcijo in sprotno rekonstrukcijo avtobiografskega jaza večkrat vstopijo ideologemi. Ti so v tovrstni poeziji odveč, saj strjujejo poetično-psihično vsebino, ki je bolj tekoča ali plinasta in zato tudi literarno učinkovita. Vpisujejo se v oblast na področju kulture: recimo besedna zveza »srce na levi« ali trendovska psihologizacija oziroma demonizacija osovraženega moškega. Mestoma pesmi dobijo aktivističen značaj, ki ni neprijeten zato, ker je aktivističen, temveč zato, ker, podobno kot razne emancipatorne ideologije v preteklosti, na fanatičen način izreka pripadnost nekemu tipu oblasti. Kljub temu so to bolj stranski pojavi, ki v celoti ne kvarijo vtisa zbirke. V osnovi gre za pogumno, dodelano in intenzivno poezijo. Lik drevesa se pojavlja že na začetku in se vrača vedno znova. Mitološko drevo otroštva je povezano s Hrastnikom, razrašča pa se po celotnem življenju. Delfin je morsko bitje in podoba vode, potopljenosti v vodo in zatopljenosti v vodo prihaja iz nezavednega. Ali gre za simbol prečiščevanja? Voda sesuje razpokani zid ega, avtobiografske pripovedi in pojavi se delfin. Vendar pa moramo biti previdni, saj je delfin kljub prijaznemu videzu in inteligenci pravzaprav zelo nasilno in egoistično bitje. Ko se ego enkrat razbije, lahko posameznica ali posameznik v duhovnih tradicijah zaživi svobodno življenje. Po drugi strani pa se ta ego znova bori za svojo koherenco, za oblast, se oprijema raznih idolov, kot so omenjeni ideologemi. V tem pogledu je zbirka Alojzije Zupan Sosič Drevo delfin svojstvena mapa človeške duševnosti skozi simbolne svetove in arhetipe, ki sestavljajo in se vključujejo v obstoječa družbena razmerja moči. Še dodatno je izraz paradoksalnih pojmovanj ženskosti v sodobni kulturi, ki so razpeta med spone pretvorjenih pritiskov iz preteklosti ter na videz opolnomočujočega neoliberalnega individualizma. Ta v okvirih slovenske vladajoče ideologije vključuje tudi atavizme prejšnje države. Knjiga je primerna tako za uživanje v pesniških podobah in psihološki izraznosti kot za teoretske študije in zlahka bi bilo o njej mogoče napisati celo razpravo.

Ime tedna je postal Alen Kočar iz Kluba študentov Kranj in organizator Tedna mladih v Kranju, tradicionalnega mladinskega festivala, ki ga študenti pripravljajo že 30 let. S paleto družabnih dejavnosti so tudi letos privabili številne mlade, ki so se družili in zabavali na glasbenih, športnih, kulturnih in izobraževalnih dogodkih. Kandidata sta bila še: Dominik Konec, vodja Reševalne službe slovenske Istre, kjer že desetletje v času poletnih počitnic in kopalne sezone na območju obalnega pasu v izolski občini zagotavljajo hitro dostopno pomoč reševalcev na kolesih, sploh na območjih, na katera z reševalnim vozilom ni mogoče dostopati. Gre za unikaten projekt, s katerim so uspešno rešili že več življenj. Marko Mikuž s Fakultete za matematiko in fiziko Univerze v Ljubljani, raziskovalec IJS-ja in dolgoletni vodja slovenskih znanstvenikov v Cernu. V 43 letih sodelovanja s Cernom je podrobno spoznal vse plati njegovega delovanja in bil pobudnik za sodelovanje slovenskih znanstvenikov v tej organizaciji, ki je Slovenijo zdaj tudi formalno sprejela v svoje vrste. 

[Slovenian: Three hundred and seventy-eight – Going smoothly] It's all about summer in the northern hemisphere, and this show has some of the hottest tracks going around. Michael brings you... LEARN MORE The post Tristo oseminsedemdeset – Gre kot po maslu appeared first on babble POP!.

I've spoken with a number of fathers who have become estranged from their children as a consequence of the family court system and their exes' manipulative behavior. Dealing with parental alienation is a painful experience with few actionable solutions. In this episode, I share a technique that men can enact to combat this situation: the evidence box. This should help estranged fathers maintain a connection with their kids long-term. Join my community: https://the-captains-quarters.mn.co Buy my book, "The Value of Others" Ebook: https://amzn.to/460uGrA Audiobook: https://amzn.to/3YfFwbx Paperback: https://amzn.to/3xQuIFK Book a paid consultation: https://oriontarabanpsyd.com/consultations Subscribe to my newsletter: https://oriontarabanpsyd.com Social Media TikTok: https://www.tiktok.com/@oriontaraban Facebook: https://facebook.com/profile.php?id=100090053889622 LinkedIn: https://www.linkedin.com/in/orion-taraban-070b45168/ Instagram: https://instagram.com/psyc.hacks Twitter: https://twitter.com/oriontaraban Website: https://oriontarabanpsyd.com Orion's Theme: https://www.youtube.com/watch?v=WrXBzQ2HDEQ Thinking of going to grad school? Check out STELLAR, my top-rated GRE self-study program based on the world's only empirically-validated test prep system. Use the code "PSYCH" for 10% off all membership plans: https://stellargre.com. Become a Stellar affiliate and earn a 10% commission for every membership purchased by a new student you conduct into the program: https://stellargre.tapfiliate.com. GRE Bites: https://www.youtube.com/@grebites4993 Become a Psychonaut and join PsycHack's member community: https://www.youtube.com/channel/UCSduXBjCHkLoo_y9ss2xzXw/join Sound mixing/editing by: valntinomusic.com Presented by Orion Taraban, Psy.D. PsycHacks provides viewers with a brief, thought-provoking video several days a week on a variety of psychological topics, inspired by his clinical practice. The intention is for the core idea contained within each video to inspire viewers to see something about themselves or their world in a slightly different light. The ultimate mission of the channel is to reduce the amount of unnecessary suffering in the world. #psychology #father #parenting

Več kot četrtina odraslih v Sloveniji je sposobnih prebrati in razumeti le preprosta besedila, bralna pismenost je vse slabša. V dobi informacij pa je pismenost izjemnega pomena. Še posebej tudi za ranljive skupine, ki zaradi različnih oviranosti potrebujejo lahko berljive informacije. V tokratnem Studiu ob 17.00 se bomo ukvarjali z lahkim branjem. Gre za besedila, ki jih lažje beremo in razumemo. V Sloveniji je na voljo le malo več kot sto knjig v lahkem branju, prvi javni obrazci na občinah so šele ugledali luč sveta. Kako nastajajo novice v lahkem branju, ki jih objavljamo na portalu Enostavno.info v okviru MCC RTV Slovenija. Kako taka jezikovna različica vpliva na slovenski jezik in da bo v prihodnje verjetno vse več ljudi potrebovalo takšna besedila. Gostje: dr. Boris Kern, ZRC SAZU, Inštitut za slovenski jezik Frana Ramovša in Univerza na Primorskem; Aljaž Verhovnik, direktor Koroške osrednje knjižnice dr. Franca Sušnika; Branka Mrđenović, strokovna sodelavka v kompetenčnem centru za lahko branje; Veronika Rot, strokovna sodelavka za dostopnost na RTV Slovenija, ustvarjalka portala Enostavno.info; Marko Rusjan, državni sekretar na ministrstvu za kulturo; Mira Rožej, besedilna bralka lahkega branja.

Keith discusses the evolution of the real estate market over the past five years, highlighting a 43% price surge from March 2020 to June 2022 due to low mortgage rates, remote work, and government stimulus. By 2024, single-family home prices stabilized, but apartment values dropped by 30%.  Mortgage rates have remained around 6-7.5% for 20 months, with national home prices rising 2% in the past year.  We introduce two listener guests: Josh Fang, a 28-year-old investor who bought five properties using his income from a mortgage loan officer job, and Nate O'Neil, an experienced investor who leveraged his corporate job to fund his real estate portfolio.  Show Notes: GetRichEducation.com/560 For access to properties or free help with a GRE Investment Coach, start here: GREmarketplace.com GRE Free Investment Coaching: GREinvestmentcoach.com Get mortgage loans for investment property: RidgeLendingGroup.com or call 855-74-RIDGE  or e-mail: info@RidgeLendingGroup.com Invest with Freedom Family Investments.  You get paid first: Text FAMILY to 66866 Will you please leave a review for the show? I'd be grateful. Search “how to leave an Apple Podcasts review”  For advertising inquiries, visit: GetRichEducation.com/ad Best Financial Education: GetRichEducation.com Get our wealth-building newsletter free— text ‘GRE' to 66866 Our YouTube Channel: www.youtube.com/c/GetRichEducation Follow us on Instagram: @getricheducation Complete episode transcript:   Automatically Transcribed With Otter.ai  Keith Weinhold  0:01   Welcome to GRE. I'm your host, Keith Weinhold, over the past five years, the real estate market has changed forever. So what are you supposed to do now? Then I talked to two GRE listener guests back to back. Here's some relatable stories this week on get rich education.    Mid south home buyers. I mean, they're total pros, with over two decades as the nation's highest rated turnkey provider, their empathetic property managers use your ROI as their North Star. So it's no wonder that smart investors just keep lining up to get their completely renovated income properties like it's the newest iPhone. They're headquartered in Memphis, and have globally attractive cash flows, an A plus rating with a better business bureau and now over 5000 houses renovated. There's zero markup on maintenance. Let that sink in, and they average a 98.9% occupancy rate, while their average renter stays more than three and a half years. Every home they offer has brand new components, a bumper to bumper, one year warranty, new 30 year roofs. And wait for it, a high quality renter. Remember that part and in an astounding price range, 100 to 180k I've personally toured their office and their properties in person in Memphis. Get to know Mid South. Enjoy cash flow from day one. Start yourself right now at mid southhomebuyers.com that's mid south homebuyers.com.   Speaker 1  1:48   You're listening to the show that has created more financial freedom than nearly any show in the world. This is get rich education. You   Keith Weinhold  1:58   Keith, welcome to GRE from Augusta Maine to Augusta Georgia and across 188 nations worldwide. I'm Keith Weinhold, and you are back inside get rich education if you got trapped in a cave back in 2020, and then you came above ground into the sunlight of 2025 and wondered what happened to the real estate investment market over the last five years. Here's the answer, and what it means to you, even if you weren't trapped in a cave, and I sure hope you didn't have to fight off a bat colony either. During the pandemic housing boom of 2020, to 2022 housing demand soared, in fact, from March of 2020, to June of 2022, prices surged a staggering 43% and rents ballooned too. And that was all amidst a few things, ultra low mortgage rates, a remote work boom and government stimulus. And for many, this unlocked Americans work from anywhere arbitrage. High earners were able to keep their income in, say, New York City or LA, pack up their laptop and head for state income tax free havens like Tampa or Nashville, and builders could not keep up. See housing supply, stock is not as elastic as demand. It's like steering a cruise ship. It doesn't turn out a dime. Inventory was drained, and you know, we had a full on housing supply crash that dipped to its Nadir in February of 2022 but just after that, all types of interest rates spiked later in 2022 to help stifle rising inflation, and what that did is that that quickly quelled homeowner affordability. Return to Office mandates began to gain momentum. National housing demand pulled back a near 180 was quickly underway. Sales volume tanked, and that put a lot of people in the industry out of business, realtors, mortgage loan officers, even furniture companies out of business by 2024 prices in the single family to fourplex space stabilized just with a slow growth rate, but apartment values lost as much as 30% from 2022 to 24 due to devastating interest rate resets under shorter term loans, and meanwhile, the income required to buy a modest starter home rose from 49k in 2020 to 101k last year. That's pretty NAR and the term forever renter became both a meme and a. Reality, and since construction, efforts to build have been uneven, apartment supply actually exceeds demand in a lot of markets, and over in the one to four unit space by adding inventory, there's now 30% more available year over year, but it remains under supplied nationally, especially like I've discussed in the Northeast and Midwest, where building has been meager to completely non existent. That's why it can still feel impossible to find a house in much of Ohio or New Jersey, but you can rent an apartment in Austin, Texas faster than you can get a Wendy's drive through order. Mortgage rates have now stayed in this same range of six to seven and a half for 20 months, and national home prices are up just about 2% in the past year. Now, when Trump began his second term in January of 2025 markets got giddy with business friendly optimism, but this Trump bump that reversed fast when he slapped half the planet with tariffs housing demand cooled again, because no one buys a house when they feel like their job might vanish, alright? So amidst all of that. How do you adjust your strategy with what's changed over the past five years? Well, real estate still pays five ways, and since you're not betting it all on price growth like you would be with most other asset classes, this way, you've always got a side to play with. Affordability down now, rental demand is heating up. With more inventory on the market for you to purchase, there are more motivated sellers, especially those shiny build to rent homes. You do still have to deal with mortgage rates that are higher than they were four or five years ago. Refinance on the rate dips if there's low inflation rates fall if there's high inflation, well, then your debt arose faster. So this is what I mean about you having the ability to play both sides today, and this is big, the number of renter households are at a record high, and they're rising. Landlords are giving fewer concessions. Increasingly, they hold the cards in the single family rental space and annual rent growth is expected to heat up from its current zero to 3% Well, what is next? Short term housing value should stay stable, but not sore, and don't count on a big mortgage rate drop at all for the rest of the year long term, expect more inflation in strong demographic demand. Those things are almost certainties, and that's the good part for real estate investors. So really the overall market report card today, let's grade it out in a report card, sellers are doing just okay. Buyers are strained. First time home buyers are in the worst, the roughest shape. I mean, they grade out at an F single family rental landlords are in good shape because people that want to buy a single family home can't, so they rent apartment landlords, they are strained, and renters are holding steady. They're doing pretty well until steeper rent increases kick in. So really, the bottom line here is that it's been a more tumultuous five years than usual. Housing demand lapse supply and now it's coming closer back into balance today, home prices are stable, the amount of buyers are waning, and the hordes of renters are growing. And where are we today? Well, earlier this month, our president called our Fed chair a numbskull.    Donald Trump  8:56   If we cut our interest by one point for years, we save 300 billion. If we cut it by two points, we save because it's pretty equivalent we're going to save, we're going to spend 600 billion a year. 600 billion because of one numb skull that sits here. I don't see enough reason to cut the rates now.   Keith Weinhold  9:21   oh dear leaving you with a little knee slapper on the five year summary there. Look poor and middle class people feel like everything is expensive. That's because they pay for everything with money they've exchanged their time for. That means they feel like they're paying for everything with their life, because they are and that's exactly why money feels like a scarce resource. Instead, real estate investors pay for things according to what our assets are producing for us and what other people's money is producing for us. And that's why we can pay for what we want, and money feels like an abundant resource, not a scarce one. That's what today's two listener guests discovered somewhere along their path, fueled by this show. Now sometimes I answer your listener questions here on the show when you write into us at get rich education.com/contact, other times, I bring listener guests right here onto the show. That's what we're doing today. Today's both happen to be based in California. The first guest is a young investor, and the second guest more experienced. These were just recorded. Understand they aren't professional speakers. And also, if you bear with a few early audio difficulties with our first guest, you're going to be rewarded with some relatable takeaways. Our first listener guest, Josh Fang, started listening to the get rich education podcast as a college student in 2016 or 17. He first heard episode 84 that's when Robert Kiyosaki made his first appearance here. That episode was called the rich don't work for money. Then he went back to Episode One and listened to them all, 560 episodes. Now let's meet him.   This week's GRE listener guest is a 28 year old real estate investor based out of Irvine, California. That's SoCal, and he has already reached what he calls semi work, optional status, fantastic. He's been a GRE listener since 2017 that was at age 20 when he was a junior in college. The GRE podcast inspired him to become a mortgage loan officer, and he's become a top performer at doing that, originating loans after graduating college. He used the money from that mortgage loan officer job starting at age 22 to buy five income properties, two through mid south home buyers and three elsewhere. By the way. Again, he's 28 now. GRE quite literally shaped his adult life, and having enough passive income to fully retire is pretty much his only goal. Now he's got passion for talking financial freedom through smart borrowing, strategic thinking and action over perfection. Oh, I love that. Hey, welcome to GRE. Josh Fang, thank you for having me. I really appreciate it here on the show, I talk about borrowing and lending a good bit, because if you're gonna make something of yourself, you need to leverage the efforts of others. So tell us about how you got your first job in the mortgage industry and how it set the foundation for your investing journey. Josh,   Josh Fang  12:31   when I graduated, it was really rough. I had a business degree which didn't really open up too many doors. At that time, I couldn't find a job for six months, I was just applying everywhere that I could. Now keep in mind this entire time, I'm looking for a job. I'm listening to your podcast, and you know, how can I the income and the money to purchase some rental properties for some passive income? And one company responded to my resume for a mortgage company. So I was able to get an interview, and I actually got the job by quoting, you know, mortgage guidelines that I learned from your podcast. Your Podcast, such as, for an FHA loan, you need three and a half percent down. For a conventional you need 20% down, just the most basic of the most basic mortgage guidelines. And actually was able to land a job, and in the very beginning, they start you off pretty much. I mean, as a telemarketer, it's pretty rough, long hours, you work weekends, I was making $17.48 at the time per hour, and with that basic income, the 17.48 an hour, I actually was able to buy my first rental property without even the two years work history. And the way I did that was by using my college degree as work history, because there is actually a guideline to where, if you have degree that is in the same field as where you work, it does actually be counting work history. And it was really funny at the time, I was living with my parents, another document that I needed to go through underwriting. I needed a letter from my dad, a signed letter from my dad saying I didn't pay rent because I was living at home. And off that 17.48, an hour, I was able to buy my first rental property. And from mid south home buyers, everyone there was so great. They were so helpful in helping me through the loan process, through selecting a property, and I was able to close. And the time that I bought my first rental I was only 22 years old.   Keith Weinhold  14:20   This is remarkable on a few levels, with just those few lines, about three and a half percent down FHA or 20% down conventional that sounded compelling enough for someone to want to give you an opportunity and then off that modest starting wage, how that really helped you accumulate to buy income property and yeah, when you're buying in those investor advantage places, those prices are low, but that's still pretty remarkable that you were able to do that. So talk to us some more about that, buying your first rental property at age 22 surely younger than most people about that process and the mindset and really that leap of faith that it takes Josh because most people are not doing this.   Josh Fang  15:00   Yeah, absolutely. And I think I had a really big leg up in terms of mindset, because I was starting to listen to your podcast when I was so young, when you're young and you're growing up and you're a young adult in college, you know, you hear from your teachers, your parents, your friends, older people, and they say, oh, invest in the stock market. Buy a primary residence to live in. And the big thing that I learned is I don't live in the same world as the world that my parents grew up in, and I can't invest the same as well. Great point there's, I live in Southern California. The medium house price of where I live in, in the city of Irvine, is $2 million yeah, that's ridiculous. I would never, ever be able to purchase a primary residence out here, and buying stocks are at all times highs. I mean, that's arguable, but I think stocks are quite overfit. So investing there didn't make too much sense. And what you always talked about in terms of building a second flow of income, having that be passive to where I don't need to work regularly, is what really motivated me to move towards that. And in terms of making the first step, I think the most important thing by far, is just setting a goal, saying at least for myself, it was, hey, I want to own a property. I want to provide safe, affordable housing to a tenant, and I want to be able to make money off of that, to where I don't need to do something physically for it every single day. And then after that, it just about taking the steps. The first things first is I reached out to some of the house providers. In that case, it was mid south home buyers, gave them a call, spoke to them, say, Hey, can I please be put on your list? Perfect. Then it was just continuing the work, doing more research, continue listening to your podcast, learn tidbits here and there, lots of Googling, lots of Googling, looking up terms that I didn't understand when I read through the analysis of the property. Hey, what does this mean? What does that mean, Googling it, learning one step at a time. And then when it came time and I was actually receiving properties that I could buy, it was about getting the mortgage, and it was about, hey, let's just move one step at a time. Okay, today I need to get these documents, and the next step, I need to get these documents. And before you knew it, I was signing with a notary closing on my first property,    Keith Weinhold  17:10   the autodidactic approach, meaning the self taught approach, with some assistance from my show. But yeah, oftentimes listening to the show can be the stimulus to make you want to learn more, probably, because I talk about the why for real estate, and if you don't know your why, you won't care about how So Josh, are you doing something that some people do in high cost areas, like you live in in SoCal? Are you renting your own place? And then you provide rental housing to others outside your own area. In investor advantage places is that your setup?   Josh Fang  17:44   100% where I live in Irvine, it is extremely, extremely low crime. Everything's a planned unit development. It is beautiful out here. There's trees, there's lots of different foods from different cultures. I absolutely love living here. The only issue is is it's ridiculously expensive. I live in a very nice luxury apartment complex, and I pay of extremely high rent that normal people probably wouldn't be able to pay. But rather than coming out of my pocket, I use the cash flow for my rentals to pay for my rent over here. So it's kind of like I'm building equity, even though I'm just renting, and I get to live the life that I want to live, where I want to live it, while still being able to invest the proper way. In my opinion   Keith Weinhold  18:26   that's beautifully said and well thought out. And part of doing that, Josh is this borrowing money, which I think to lay people, is scary, and for someone in their 20s to borrow money, that could really bring a good bit of trepidation, because that goes against the grain of what so many people do. But of course, we talk around here about how borrowing money like you have for your rental properties in other states outside California really is not something to fear. So can you tell us more about how you approach that mindset?    Josh Fang  18:57   Absolutely, and it's always hilarious when someone asks you if you if you have any debt, and you tell them $500,000 when you're 23,24 years old, the biggest thing about borrowing money is now, again, there's different types of debt. So I'm not saying, hey, go buy some expensive car that you're going to be backwards on in a few months. Don't get a bunch of credit card debts at 24% interest rates. I'm talking about debt from a with a collateral attached to it, such as a mortgage. The way I like to think about borrowing money is borrowing like a bank, because your money has value. Whenever I have money in the actual bank, it doesn't feel like it, but I'm actually lending money to the bank. They're taking the money that I have deposited and lending it out to other people at higher rate than what they're paying you back. That's how they're actually making the money. I'm thinking like a bank. And of course, that's exactly how it is with borrowing money for rental properties. The interest rate that I have to pay on my mortgage is so much lower than how much income I'm receiving by actually renting it out and providing housing for someone. And then, of course. Tax deductions.   Keith Weinhold  20:00   Sure you're creating arbitrage there when it comes to paying off or aggressively paying down a property. I mean, some protection financially is surely good, but one has to realize that after some point, when you protect you cannot produce another way to say it is if you use your dollar to pay down, then you cannot use your dollar to multiply.   Josh Fang  20:25   I agree with that 100% I couldn't have said it any better.   Keith Weinhold  20:28   You really took action something that a lot of people don't do. I don't think you did right away. You listened to some episodes for quite a while, but you did overcome analysis paralysis at some point. So talk to us about more with that mindset of how you took the first step, even when you're still perhaps a little unsure.   Josh Fang  20:46   I think you say it best, and I know I'm literally taking the words out of your mouth, because, again, I'm a long time listener, but do the right thing before you do things right. Yes, rings so, so, so true. You're never going to be perfect. There's never going to be the perfect property. There's never going to be the perfect deal. Eventually you just have to do it. And again, all it really is is saying, Hey, here's what I want to do, and what are the steps that have to take to get there? If the first actual step, rather than just listening to the podcast or getting more information, if the first step is, hey, I want to get a pre approval. Go ahead and get it done. Reach out to a loan officer, get your pre approval, get the documents needed, get the right information that you need, and then start writing offers on properties, or contacting Keith and his team, their GRE mentoring team, and ask for property values. And once you find one, and again, you're never going to find the perfect property. Once you finally say, hey, this fits enough. Jump on it. You should be excited. I mean, again, once you're doing the right thing, you can learn to do things right. And slowly, kind of say, Hey, I made a small error there. Hey, I made a small error there. But at the end of the day, you move forward and you're ahead of where you started. I think that's the most important thing.   Keith Weinhold  21:59   Yeah. I think uncertainty stops. Some people, maybe even uncertainty with the larger economy. Or maybe people just look for excuses for inactivity. Sometimes there will always be some uncertainty out there. And what you do when you make an offer on a real asset is you just made some certainty in your life. Yeah, just talk to us more about the process of kind of you started with your first property and then growing that portfolio. And what did you learn between the first one in that second, third, fourth and fifth one, where you are now   Speaker 2  22:32   after buying my first one, when I received that first rent check, after that first rental property, my net cash flow after management expenses, putting a little, you know, VIMTIM, keeping an extra 10% away to just keep in the bank in case something came up. I wish cash flowing at the time. $231 doesn't sound like a crazy amount now, but as a 22 year old kid and saying, Hey, I got this $231 without lifting a finger, felt amazing. I had this feeling, I'm out in Southern California. We had this burger chain called in and out. My double double burger and fries combo was about $6 at the time. And I said, no matter how bad things get, no matter how bad things get, that $231 I can buy an in and out meal every single day, as long as I own that property. I just had such an overwhelming feeling of, when can I get the next one? I immediately, immediately reached out to MidSouth like, hey, put me on the list as soon as I have money. You know what? Keith, it got fun. It got fun every time I got an email saying, Hey, here's another property. Like, wow, if I can make this deal work, that's an extra couple $100 I can have at the end of the month every single day. And now I live in my own apartment complex, in a unit in an apartment complex, but at the time, I rented out a room in a house, in a condo, just a single room, and by the time I bought my second rental property, all of my cash flow from my two rentals actually covered the full amount of my monthly rent living out outside of my parents place. And that just felt so so so amazing, because it was like I almost had no overhead. So all the money that I was making for my job was completely disposable that I could use to purchase other rental properties. And that was just such an amazing, freeing feeling to know that no matter what happened, I obviously as long as there's no vacancies or any kind of crazy issues there, that I would still have that flow of income coming in pretty much after buying my first one, all I wanted to do was buy more. Now, a big issue that happened was 2020 and 2021 there was very little inventory, so really tough and slim pickings, and I would have bought a lot more if I could find more deals. And now, thinking back, I should have, if anything, I wish I bought more.   Keith Weinhold  24:50   Gosh, I just love that Josh, that seminal $231cash flow from that first property, and how you rationalize that that could buy you in and out. Meal every single day, all month. If that's what you wanted to do with that first one, that's terrific. And yes, markets change. There's more inventory available now than there was in 2020, and 2021, mortgage rates are surely higher. You don't have as much competition. You might even get a concession or two when you buy since it's a more balanced market today than it was about four years ago, for sure. So every market cycle is different. When you realize you're paid five ways at the same time, there's always one side to play or the other. There's always so many variables that you get to deal with there. Have you had any certain issues with property management, or do you have any mindset about using a property manager remotely. I assume you're using remote management for these turnkey type properties. Is that right?   100% I've actually never physically seen any of my properties. Yeah, what you say is the best, essentially, your team that manages your property is the most important by far. Right? Right now, here's the thing, issues are going to come up. Regardless of what happens. There's always going to be something that breaks. Eventually, there's always going to be vacancy. Eventually there can be natural disasters, something's always going to come up. And the thing is, you can't get angry about the things that you can't control. If there is a vacancy that you know you vetted the tenant properly, and there was nothing to do if there is a natural disaster or if something does break down in your property that you couldn't have expected coming or that wasn't your fault. The biggest thing is, you can't get angry with it. You just have to know that you can deal with it properly, and having a professional team on the other side saying, Hey, we're going to handle it. This is an issue. Here's how much it's going to cost. We got a couple of you know quotes. Please approve one when you get a chance, and knowing that the other side will be able to execute on that and to do it for you, and that you don't have to fly out wherever you own your property and do it yourself physically, or have to call around and find a contractor to do it, it's a huge peace of mind, and having a property manager and a team that you can trust just makes it work. If I couldn't get a property manager that I trusted, I wouldn't own the property in the first place. It's just too much work.   I am the same way. I also have not seen the majority of the properties I own. I've never seen them physically, in person, yeah, having a professional property manager, they provide a buffer, and they help keep this investment unemotional for you. And Mistakes happen when people get overly emotional about their properties. Some people are reluctant to hire a property manager, Josh because they don't want to pay the eight to 10% property management fee, which can actually be a little bit more than that effectively with leasing fees. But people feel that way, as oftentimes they're confining and limiting their search to their own local market, which probably isn't investor advantage. So they don't have enough of a cushion in their pro forma, in their profit and loss statement to pay for a property manager. But when you buy in those investor advantage places where you get that high ratio of rent income to purchase price. There you have the allowance to pay for the manager too,    Speaker 2  28:06   100% and luckily, because I have my foundation of real estate from listen to your podcast, I never even look at a deal without factoring in the fact that there will be management. I have never, ever even possibly considered self managing. It just makes no sense. I'd rather, let's just say it's 10% and a month's worth of lease, which is a little bit on the higher end in terms of management fees, right? Even if I were to do I would factor that in 100% of the time if the deal doesn't work, if it doesn't cash flow, if it doesn't, you know, appreciate a certain amount, if it isn't in my ballpark, with the management fees taken out, that's not even the deal that I'm looking at. It's just too expensive.   Keith Weinhold  28:47   Yeah, that's a great way to think about it, keep it unemotional and make it all relatively passive. I self managed for the first six or seven years of my real estate investing career, but that's because I was only investing in my own local market, and I was thinking small, and I didn't learn about finding the best investor advantaged places nationwide. Well, just as we wind down here, is there any last thing that you'd like to let the audience know or to tell us, I know before we recorded, you had talked about how really, your Daydream is more realistic than you think, and the motivation behind getting started. What do you want to leave with? Josh?   Speaker 2  29:22   You say it after every podcast. Don't quit your Daydream. I've been hearing that for eight years now at this point, and it really is, I don't have a day job. I pretty much only work when I feel like it. The majority of what I've lived off of is the income properties that I've bought and the lifestyle that I've crafted. It's so freeing. No one's telling you what to do. You don't have to go somewhere every day. You can spend time doing what you want. When I first quit my day job, and, you know, went into this semi retirement, I'm not gonna lie, I play video games eight hours a day for months, or maybe a month or two. I don't know if that's the most productive. It. But the fact that I could do that, I could obsess on crazy hobbies for a while was crazy. But one of the most important things to me of being able to reach this point in my life is I'm starting to get a little bit older. I am able to spend time with my family. I am able to spend time with my grandparents, and, you know, just like on a Tuesday or like on a Wednesday, just when nothing's really going on. Just being able to stop by and say hi to my family and spend time with them is something that I'm so blessed to be able to have, and not many people can do. And then the last thing I'd like to say on that is just, there's very small things in the world that a lot of people don't get a notice. Because I feel like everyone's in a rush all the time, and a lot of people are. You know, if you're working 40 hours a week, nine to five, you know, nine to six, there's not much time. But the other day, I was taking a small hike, and I saw a group of lizards. I thought they were cool, so I looked at the lizards. I spent maybe 15 minutes watching the lizards. I wasn't in a rush, you know, I could just enjoy the small things in life, and that's one of the best things in the world to just have that sense of not being in a rush. And I feel like investing in real estate and having that passive income and having that level of freedom. To me, that's what my Daydream is. There's nothing better to me.   Keith Weinhold  31:14   the simple pleasures about not having your time so confined that you could enjoy looking at lizards for 15 minutes. I love the small stuff like that. And does this mean Josh? I mean with five rental properties that you only need to work part time rather than full time, because usually five properties don't allow someone to completely leave the workforce.   Josh Fang  31:32   No, not at all. I definitely do things on the side. I still do loans for friends and family. I do some other stuff on the side, but it's more of that my basic needs are met for the most part.   Keith Weinhold  31:43   That's terrific. You've got more latitude to live and having a life of options Trumps having a life of obligations 100% Well, hey, it's been great hearing your story. Josh, loved having you here on the show you're listening to get rich education. We got to know listener. Guest, Josh Fang more, and we come back with another listener guest, profile, I'm your host, Keith Weinhold.    The same place where I get my own mortgage loans is where you can get yours. Ridge lending group  NMLS, 42056, they provided our listeners with more loans than anyone because they specialize in income properties. They help you build a long term plan for growing your real estate empire with leverage. Start your pre qual and even chat with President Caeli Ridge personally. While it's on your mind, start at Ridge lendinggroup.com. That's Ridge lendinggroup.com.    You know what's crazy your bank is getting rich off of you. The average savings account pays less than 1% it's like laughable. Meanwhile, if your money isn't making at least 4% you're losing to inflation. That's why I started putting my own money into the FFI liquidity fund. It's super simple. Your cash can pull in up to 8% returns, and it compounds. It's not some high risk gamble like digital or AI stock trading. It's pretty low risk because they've got a 10 plus year track record of paying investors on time in full every time. I mean, I wouldn't be talking about it if I wasn't invested myself. You can invest as little as 25k and you keep earning until you decide you want your money back. No weird lockups or anything like that. So if you're like me and tired of your liquid funds just sitting there doing nothing, check it out. Text family to 66866, to learn about freedom. Family investments, liquidity fund again. Text family to 66866.   Jim Rickards  33:49   this is Arthur Jim Rickards. Listen to get rich education with Keith Weinhold, and don't quit your Daydream.   Keith Weinhold  34:05   our next listener guest has an uncanny amount of similarities with me, like me, he was a geography major in college. He had humble beginnings in upstate New York, not far from where I grew up, in upstate Pennsylvania. He's a huge believer in real estate pays five ways, and he loves world travel. His first job out of college was, in fact, traveling the world, playing basketball against the Harlem Globetrotters. We sure don't have that pro basketball part in common. He owns dozens of units across seven states today. He's listened to GRE for six or seven years, and he was a corporate guy living in California who thought the book Rich Dad, Poor Dad was fiction, until he experienced the rapid appreciation of he and his wife's first primary residence. And after that appreciation, he knew he had to acquire more real estate. Prices were too high in California relative to rent, so he. Went out of state, and he had just one property for five years to learn that was pretty similar to me as well. And then he saw tremendous opportunity after the GFC hit in 2008 and that really put him on a path through experience the five ways real estate pays over time, and he became convinced that there's not a better risk adjusted business model that's easily accessible to the average person. Hey, welcome to GRE Nate O'Neil   Nate O'Neil  35:25   Keith, it's great to be here. I've been, as you mentioned, a long time. Listener. Really appreciate the content that you put out, and excited to be on the show   Keith Weinhold  35:32   and you're no longer playing like zero defense basketball against the Harlem Globetrotters. You work in the solar industry now. I know that you sell to single family rental REITs. That's really interesting. And one thing that real estate investing lets people do is think differently about their w2 jobs. So tell us about how that manifests with you. Nate,   Nate O'Neil  35:56   growing up, you know, the first 25 years of my life, 24 years or so, my identity was wrapped up as an athlete, and, you know, something I could really get excited about eventually, that had to come to an end, and started working in the corporate world. So did that for a little while, and got going. It really, you know, didn't resonate with me that much. But, you know, I had a wife, and I had some kids on the way, so had to keep grinding it out. And, you know, as I did that, I discovered real estate, and what really helped me with that was I saw the corporate world began to be a vehicle to grow my real estate portfolio, right? Instead of it being the desk jockey in the cubicle, my corporate job was okay, this is the way for me to raise capital and get the best loans to build a real estate portfolio so, and it's ironic, because as that kind of evolved, I gained, you know, more appreciation for the corporate job, and it didn't, it wasn't so burdensome. And I know there's probably a lot of people out there right that feel that way about their job, but you can probably do a mindset shift and say, hey, you know, this can serve me in other ways and it not be such a grind.   Keith Weinhold  37:03   That's a great way to think about it. While you have that job, it sure is an asset in helping you qualify for loans. Right before I quit my job, I made sure I qualified for as many loans as I could, because I sure would have had a hard time getting them immediately after leaving my job, before I built income or build up passively from something else. It's funny, when you're in the corporate world, you're in this context of normalcy. So many people that you know are working. You're around your coworkers all day. They're working, and if it's something you're not passionate about, yeah, you still don't question it, because it takes on that context for normalcy. But once you leave your job, it feels bizarre that anyone would ever show up and spend five of their seven days and most of the waking hours of those days doing something that they're not passionate about. Now maybe you are passionate about what you do. That's where the mindset that I think through there, but that's a good way to help a person feel a little bit better showing up at their job, even if it is a soul sucking job. Nate. So talk to us about this more with this sort of power of purpose that you had, and when you are working your day job, you probably do some living below your means in the short term, but a lot of people just do that decade after decade and grind it out. So how do you think about that with the mindset in this sort of capital formation stage, in order to acquire more property while you're working?   Nate O'Neil  38:29   Like I said, it was an opportunity that the job became an opportunity to fuel the real estate business, which, as you mentioned, I saw that opportunity in 2009 right when prices were low, when interest rates were low, when there was a bunch of nice new foreclosures on the market, I saw the it created a sense of urgency in me, right? So I was like, All right, let's go to work, because the work's going to drive that capital, and the capital is going to allow us to acquire more and more of this real estate, which is, again, something I was passionate about, because we had this just that one rental for that five year period, I saw the power of what it can do over the long term. And when you have that purpose and that clarity, then all the minor stuff that you can get wrapped around and can kind of slow you down, really doesn't matter you have that big vision and that big goal that you're going after that really kind of drives you    Keith Weinhold  39:20   now, before we got started today, I learned that you have a few ways of thinking about how real estate investors can have their cake and eat it too, more tactically. Here tell us about that. And of course, what is the point of having cake if you can't eat it?    Nate O'Neil  39:33   Yeah, for sure, worked in some different industries and some different companies, and seen a lot of different business models. I've never found anything where you can have kind of both sides of the cookie here, or hack cake eat it too. You can depreciate an appreciating asset. The government allows you to depreciate homes, right? Which gives you a nice tax benefit. The money that I make that my corporate job is taxed at a much higher rate than my real estate income, but yet the asset actually appreciates. Dollars. So you depreciate an appreciating asset. I think people underestimate the power of the 30 year mortgage, right? You can lock in an interest rate today for 30 years, and if interest rates go up, you did a great job. You locked in a great, great rate. If interest rates go down, you're a champion. If you just refinance, when you do a 30 year fixed rate mortgage, the lender is committing to you for three decades, but you don't have to commit to them. So again, have your cake and eat it, too. And then you know the whole return on amortization that you talk about, Keith, yeah, when you get to borrow money that you don't have to pay back, in essence, right? The resident that's in your home is paying that money back. So people think about they hate getting bills in the mail. I actually love getting my mortgage statements in the mail. Every month I go through this little ritual, I look at it, and my process is, wow, how much was that principle paid down? Right? I didn't pay it back, right? The rent payment paid it back. So what other scenario can you borrow money that, quote, unquote, someone else is paying back on your behalf,   Keith Weinhold  41:02   that ROA, that return on amortization, also known as principal pay down. Where, yes, you get that statement every month, and you get to see how much a stranger paid down for your property. It's basically a stranger every month is faithfully funding an illiquid savings account for you,   Speaker 3  41:22   it's just incredible. And then the final way I kind of think about having your cake and eating it too, is, is this HELOC strategy. So over time, as you build equity in your portfolio, you can take out a home equity line of credit, right? And the beauty of a line of credit is you open it up and you don't have to make any payments if you don't use the money. But when there's an opportunity, you can pound for that opportunity. And this is what we did in 2020 and 2021 we acquired some new construction fourplexes with HELOCs. And when in using the HELOC strategy, you're able to use every single dollar to keep the balance low. And what it does is it creates this virtuous cycle of increasing cash flow, because it's a line of credit, and you pay off against that, that line of credit, if you need the money back for an emergency, or if a better opportunity comes up, then you basically just pull more off that line of credit. But if you don't have that opportunity of that emergency, then your money is fully working to keep that payment low, which increases your cash flow, and again, it creates that virtuous cycle of of increasing cash flow, which you can use to pay down the HELOC. Even more   Keith Weinhold  42:29   I see no downsides to getting a HELOC to getting a line of credit against your existing primary residence or your rental properties, whatever they are. It's like this flexible credit card where you're drawing on it with your property as collateral, and it's at lower interest rates than a credit card is going to be. And you also have interest only flexibility, meaning even if you draw against it, and you do have a balance and you need to make a payment, therefore you can pay as little as only the interest portion if you want to. In fact, when I bought my first fourplex in order to fund my second fourplex, I took a HELOC second mortgage off of that first one. Love the HELOC really can't think of any downsides with at least having it there. And then it's up to you as to whether you want to draw against it or not. Absolutely talk to us more about you're another out of state investor based in high cost California. There. It sounds unusual to lay people, but here we are as successful investors owning these properties, typically that we have never seen out of state. Are you in that category as well? And talk to us more about the out of state investing experience   Speaker 3  43:40   I've only ever seen one of the units that I own, the rental units that I own, and I actually think it's a huge advantage, because if you're seeing them driving by them all the time, there's probably little nits that you could point out, and, you know, you get some kind of emotional attachment to them. The way I look at it, it's two things. Number one, it's the spreadsheet behind it, right? What are the numbers behind it? What is my mortgage payment? Is there Hoa, taxes, insurance, all that stuff, and what is my rent? And obviously, I'm all about cash flow, so that rent payment has to cover all the expenses with a little extra. The second piece of it behind the spreadsheet is the person managing it right? And I've been very fortunate over my years of investing to find some really quality property managers who I know I can trust. So, you know, absolutely, I mean, developed an ability to hire the right people to manage the property, and they handle just about everything, and I just need to be there, available for them if they have questions for me or decisions I need to make. Fully trust them. I have only ever seen one of the units that I own, and you know, never really planned to go out and visit them.   Keith Weinhold  44:44   You do like to travel, but just not necessarily to your 200k turnkey single family home in the Midwest, in the south, not where you want to stay. There are some advantages and some disadvantages of owning rental properties, say, four blocks from your home. One of the distinct disadvantages is, yeah, you might get that emotional attachment to it. You might get bogged down in inconsequential things. You might drive by and see that the hedge needs a trim. How much of a problem is that really?   Nate O'Neil  45:14   Exactly it, as long as the spreadsheet behind it is spitting out the right numbers, and you have someone that you can trust that can handle anything that that's major, or any tenant issues that's all that's really relevant.   Keith Weinhold  45:26   Has our investment coaching helped inform you at all? Helped you find properties or give you inside information or access to deals or other support?    Nate O'Neil  45:35   Yeah, I have had a conversation with Naresh. One of your investment counselors doesn't, haven't necessarily acted upon that. But, you know, I can say over the, you know, six to seven years that I've been listening to your podcast just understanding kind of the macroeconomic guests that you bring on in the markets that we believe, you know, are good for investing. Like that, information has been extremely valuable to me over the years.    Keith Weinhold  45:57   Our coaches are really deal scouts here in today's market. For example, things are just so much different than they were during the 2008 GFC years. There are always deals in every cycle. You typically just need to shift and find out where those opportunities are. Are there any specific niches or opportunities that you're exploiting today in this particular cycle? Nate   Nate O'Neil  46:19   yeah. So it's really interesting, and I've been spoiled, right in terms of the times when I did a lot of my acquisition back in 2008 we knew it was good, but looking back, you realize just how good it was at that time, and frankly, now is very challenging, right? I mean, affordability is the worst that's been in 40 years. Yeah, right. So you have to be really creative. You know, one of the things that I did recently was I learned how to do a loan acquisition. So assuming a loan can be very helpful, right where you're not dealing with today's interest rates, you can get yesterday's interest rates on a property. So that's been one thing, and one thing I continue to look at. I also believe that I've been focused on single family in some four plexes. I'm looking at smaller multifamily because what I've learned is there's opportunity when there's debt disruption, right? The great financial crisis happened because there were atrocious lending standards leading up to that time, right? So that opened up a window of opportunity. That opportunity is closed. Acquired some fourplexes in 20 and 21 when interest rates were unbelievably low, right? Basically, the Fed funds rate was basically zero. That kind of unique debt situation allowed me to acquire there and now, right? Since 2022 interest rates spiked so quickly, the way I think about it is the debt disruption period, there's probably some acquisitions that happened with, you know, three to five year short term loans that are going to be coming due, and those acquisition are facing payments that are going to double. So there could be some motivated sellers, not in the single family right, where you have 30 year fixed rate or 15 year fixed rate, but in those small, multi family loans, where they have those short term variable rate debts. So that's kind of how I'm thinking right now.   Keith Weinhold  48:05   That's perceptive. It's something I brought up on the show a month or more ago where apartment buildings have got to bottom out at some point those being sensitive to those shorter term interest rates. Well, Nate, this has really been helpful. You've given our audience quite a few things to think about. Is there any last thing that you'd like the audience to know?   Speaker 3  48:25    We talked a little bit about purpose, like that's very important. There is no better way, in my opinion, to build wealth for the average person, no more predictable way risk adjusted, to build wealth for the average person. You know, for the listeners out there. It's great that you're consuming this content, and if you can find a purpose behind it, then it'll help. And the other thing is, get clarity, right? There's a lot of different things you can do within real estate investing, but get clarity on what works for you. And the way to do that, frankly, is just kind of sit and think, I think, you know, especially in today's day and age, there's so many stimulus coming at us, from social media to everything that there's a risk of not being able to get clear. One of the big things that helped me during that, that period of, you know, 2009 to 2015 when we started to scale, was I was very clear about what we wanted. I had a buy box that was, you know, homes built this millennium B grade neighborhoods, cash flowed $300 or more with no more than 25% down in markets with population growth, job growth and favorable rent to price ratios. And when I was able to communicate with the agents and property managers, I was very clear on what we wanted to do. They had clarity on what they needed to do to help us scale so purpose and clarity.   Keith Weinhold  49:41   That's great guidance a specific Buy Box. Yes, focus is harder to find, and it's really important today. It's amazing. Nate, how much work I get done when my phone is one room away, over on the charger. It's incredible how that works. Well, it's been good to get your insight, and it's been good to talk to a guy. That might know the capital of Argentina much like I know a fellow geography guy and real estate investor. Yeah. I really want to thank you for sharing your insight with the audience today.    Nate O'Neil  50:11   Nate, I hope it's valuable for you in the audience.   Keith Weinhold  50:20   Oh yeah, good, relatable material this week, the first guest, Josh, also talked about how he took out a low interest rate car loan. So he held onto those funds rather than handing them over to an auto dealer, stayed liquid and used it for income property, creating a yield for himself that beat the car loan interest rate pretty smart. And before you do that, you do want to be sure that you've got enough liquidity to serve as debt. And then Nate the second one, the more experienced investor, reminding us that deals are not as good as they were coming off the global financial crisis. And he's right, but I still don't know of a better risk adjusted return today, like me, they both use professional property management. I mean, you do have the option of self managing your property remotely that you get from GRE marketplace. But of all the things in the world that you can learn about, even all the things in real estate investing that you can learn about, is self managing really what you want to spend your finite resource of time learning about. Even if you've got good tenants, you're bringing more intrusion and interruption into your life. Property managers don't just protect your asset, they protect your time. Big thanks to GRE listeners, Josh Fang and Nate O'Neil today until next week, I'm your host. Keith Weinhold, don't quit your Daydream.   Speaker 4  51:50   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  52:14   You know, whenever you want the best written real estate and finance info, oh, geez, today's experience limits your free articles access, and it's got pay walls and pop ups and push notifications and cookies disclaimers. It's not so great. So then it's vital to place nice, clean, free content into your hands that adds no hype value to your life. That's why this is the golden age of quality newsletters. And I write every word of ours myself. It's got a dash of humor, and it's to the point because even the word abbreviation is too long, my letter usually takes less than three minutes to read, and when you start the letter, you'll also get my one hour fast real estate video. Course, it's all completely free. It's called the Don't quit your Daydream letter. It wires your mind for wealth, and it couldn't be easier for you to get it right now. Just text gre to 66866, while it's on your mind, take a moment to do it right now. Text, gre to 66866   The preceding program was brought to you by your home for wealth, building, get rich, education.com.    

In this week's MBA Admissions podcast we began by discussing some of the recent activity on LiveWire, which is now becoming quieter as we move into the summer season. We then continued our discussion on the recent U.S. Government decisions as they pertain to international MBA students; Harvard appears to have won a recent decision in their fight with the U.S. Government in terms of being able to enroll international students.. Graham highlighted Clear Admit's summer series of webinars, which focuses on top MBA programs' admissions essays, which will be attended by more than 20 of the top MBA programs. The first event in the series includes Berkeley / Haas, Cornell / Johnson, Dartmouth / Tuck, Duke / Fuqua and UPenn / Wharton. Signups are here: https://bit.ly/mbaessay0725. Graham then noted two admissions tips; the first focuses on the importance of post MBA career goals, the second, part of Clear Admit's “Myth Busters” series, discusses the differences between targeting Round 1 and Round 2.. We continue our series of Adcom Q&As, which is a yearly series where we interview the admissions leaders at all the top MBA programs; this week we have Q&As from NYU / Stern and Georgetown / McDonough.. Finally, Graham highlighted a Real Humans alumni spotlight focusing on an alum from IESE working at PwC.. For this week, for the candidate profile review portion of the show, Alex selected three ApplyWire entries:. This week's first MBA admissions candidate has a 329 GRE score and a 3.4 GPA. They are working in the biotech sector, and plan to remain in that sector, post MBA. They want to do investment banking in the short term.. This week's second MBA candidate has a 3.86 GPA but has not taken the GMAT or GRE yet. They are also focused on the health care sector.. The final MBA candidate is from South Korea and has 10 years of experience in the tech sector, focusing on AI and robotics. They have a 685 GMAT score. This episode was recorded in Kansas City, Missouri and Cornwall, England. It was produced and engineered by the fabulous Dennis Crowley in Philadelphia, USA. Thanks to all of you who've been joining us and please remember to rate and review this show wherever you listen!

What is the best way to practice for your standardized test? It seems like a simple and straightforward question, but in reality there are a lot of different ways to structure your study sessions. The two most effective are block training, where you focus on one topic at a time until you master it, and random training, where you work on multiple disciplines within the same practice session. Is one method more effective than the other for your test-day results?In this episode, Brett sheds light on this important question by relating insights from an NBA assistant coach, who has seen how block vs. random practice plays out on game day at the highest levels of athletic performance. Brett delineates key differences between block and random practice and explains that each has a different objective, and that they need to work together to build toward maximizing your test-day performance. Brett explains precisely how to balance block and random practice as you progress in your test preparation and shares an important tip for effective time management as well.Your study sessions should be intentional and follow a proven methodology that produces results. By the end of this episode, you'll have a better understanding of what that looks like and how to implement it.RESOURCES / LINKSArticle: Ideal Pacing Strategy for the Executive AssessmentVideo: The Learning Curve of Testing Mastery - When to Expect Breakthrough!SIMILAR EPISODESIf you enjoyed this episode, we encourage you to check out these other similar episodes of The Dominate Test Prep Podcast:Episode 56: How to Use Practice Test (and What to Avoid!), with Vinay NarangEpisode 52: 5 Tips for Staying Consistent with Your StudyingEpisode 40: Proven Principles of Perfect Practice, with Mike BerginA DOSE OF MOTIVATION"Talent is cheaper than table salt. What separates the talented individual from the successful one is a lot of hard work." — Stephen KingConnect with Us Get more free content on the DTP YouTube Channel Register for a comprehensive prep course (GMAT, Executive Assessment, GRE, LSAT, SAT) Leave us a review on Apple Podcasts Questions? Comments? Email us at support@dominatetestprep.com.

My recent Soft White Underbelly talk on what women want received a fair bit of criticism. How could I – a man – possibly know what it feels like to be a woman? Shouldn't we let women speak for themselves? In this episode, I respond to the argument at face value and explain how it is that I know what women want. Though it might sound callous, their feelings don't matter. The most reliable means of establishing what women – or anyone – wants is by observing their behavior with respect to limited resources. Join my community: https://the-captains-quarters.mn.co Buy my book, "The Value of Others" Ebook: https://amzn.to/460uGrA Audiobook: https://amzn.to/3YfFwbx Paperback: https://amzn.to/3xQuIFK Book a paid consultation: https://oriontarabanpsyd.com/consultations Subscribe to my newsletter: https://oriontarabanpsyd.com Social Media TikTok: https://www.tiktok.com/@oriontaraban Facebook: https://facebook.com/profile.php?id=100090053889622 LinkedIn: https://www.linkedin.com/in/orion-taraban-070b45168/ Instagram: https://instagram.com/psyc.hacks Twitter: https://twitter.com/oriontaraban Website: https://oriontarabanpsyd.com Orion's Theme: https://www.youtube.com/watch?v=WrXBzQ2HDEQ Thinking of going to grad school? Check out STELLAR, my top-rated GRE self-study program based on the world's only empirically-validated test prep system. Use the code "PSYCH" for 10% off all membership plans: https://stellargre.com. Become a Stellar affiliate and earn a 10% commission for every membership purchased by a new student you conduct into the program: https://stellargre.tapfiliate.com. GRE Bites: https://www.youtube.com/@grebites4993 Become a Psychonaut and join PsycHack's member community: https://www.youtube.com/channel/UCSduXBjCHkLoo_y9ss2xzXw/join Sound mixing/editing by: valntinomusic.com Presented by Orion Taraban, Psy.D. PsycHacks provides viewers with a brief, thought-provoking video several days a week on a variety of psychological topics, inspired by his clinical practice. The intention is for the core idea contained within each video to inspire viewers to see something about themselves or their world in a slightly different light. The ultimate mission of the channel is to reduce the amount of unnecessary suffering in the world. #psychology #women #relationship

The problem with dating today is that people want too much. “All I want...” is a prelude to an unsatisfiable laundry list of partner criteria. This keeps people single and prevents them from appreciating their relationships. I argue that this stance is either due to willful delusion about the sexual marketplace or a kind of perfectionism that masks relationship anxiety. Join my community: https://the-captains-quarters.mn.co Buy my book, "The Value of Others" Ebook: https://amzn.to/460uGrA Audiobook: https://amzn.to/3YfFwbx Paperback: https://amzn.to/3xQuIFK Book a paid consultation: https://oriontarabanpsyd.com/consultations Subscribe to my newsletter: https://oriontarabanpsyd.com Social Media TikTok: https://www.tiktok.com/@oriontaraban Facebook: https://facebook.com/profile.php?id=100090053889622 LinkedIn: https://www.linkedin.com/in/orion-taraban-070b45168/ Instagram: https://instagram.com/psyc.hacks Twitter: https://twitter.com/oriontaraban Website: https://oriontarabanpsyd.com Orion's Theme: https://www.youtube.com/watch?v=WrXBzQ2HDEQ Thinking of going to grad school? Check out STELLAR, my top-rated GRE self-study program based on the world's only empirically-validated test prep system. Use the code "PSYCH" for 10% off all membership plans: https://stellargre.com. Become a Stellar affiliate and earn a 10% commission for every membership purchased by a new student you conduct into the program: https://stellargre.tapfiliate.com. GRE Bites: https://www.youtube.com/@grebites4993 Become a Psychonaut and join PsycHack's member community: https://www.youtube.com/channel/UCSduXBjCHkLoo_y9ss2xzXw/join Sound mixing/editing by: valntinomusic.com Presented by Orion Taraban, Psy.D. PsycHacks provides viewers with a brief, thought-provoking video several days a week on a variety of psychological topics, inspired by his clinical practice. The intention is for the core idea contained within each video to inspire viewers to see something about themselves or their world in a slightly different light. The ultimate mission of the channel is to reduce the amount of unnecessary suffering in the world. #psychology #dating #relationship

Zadnje tedne nas je dosegla prijetna vest, da bodo odslej cene goriv na avtocestah enako regulirane kot tiste v notranjosti. Kar pomeni, da nižje. Vest je bila prijetna za veliko večino državljanov, neprijetna pa za delničarje in upravo Petrola.Ta se je v podobi visokih Petrolovih direktorjev tako razhudila, da je skoraj pljunila. No, na koncu ni, ampak so Petrolovi direktorji kot užaljeni otroci povedali, da bodo pač zamrznili sponzorska sredstva za kulturo in šport in da bodo investirali na trgih in v državah, ki so do Petrola bolj prijazne. Potem so Petrolovi direktorji govorili o maržah in o zmanjšanih profitih in sploh, kako se prodajanje bencina v Sloveniji skoraj ne splača. Javnost je bila posledično ogorčena, ker je mnenja, da je Petrol tako ali tako monopolist, za katerega veljajo druga pravila in da je recimo plastenka vode zaradi posvečenega statusa Petrola v njihovih prodajalnah še enkrat dražja kot v normalnih prodajalnah. In tako naprej in tako nazaj. Ampak da ne bomo prilivali bencina na ogenj, se lotimo teme, ki je manj atraktivna od nalivanja bencina, prodajanja športnih stav, sprejemanja paketov, prodaje higienskih pripomočkov, alkoholnih pijač, krofov, sendvičev in kave, rezanega cvetja in napolitank, ter kar je podobnih izdelkov, ki v Petrolovih prodajalnah zlahka dosežejo rekordne cene. Hočemo povedati, da zaradi vsega naštetega in pomanjkanja konkurence ni posebej zahtevno biti Petrolov direktor, kajti kljub vsemu glamurju navkljub: petrolovci so pač še eni trgovci več. Zato se posvetimo njihovi dejavnosti, ki je neatraktivna, v javnih občilih skoraj anonimna, a še kako pomembna. Posvetimo se lulanju, ali uriniranju, ki mu včasih pravimo tudi mala potreba. V tej pasji vročini je treba med potovanji veliko piti, kot nam svetujejo zdravstveni delavci in kar z lahkoto storimo na Petrolovih bencinskih servisih. Nihče pa se ne posveča dejstvu, da je čez čas treba vso to tekočino tudi spraviti ven. Iz telesa, natančneje mehurja. Gre za fiziološki proces, ki je manj atraktiven kot pitje osvežilnih pijač, za organizem pa prav tako potreben. Da ne zapišemo nujen. In to je na Petrolovih bencinskih servisih mnogo težje storiti, kot se rehidrirati. Lulanje je na Petrolu problem. Poznamo dva glavna principa dostopa do Petrolovih sanitarij. Prvega v pomanjkanju strokovne terminologije imenujmo: »ključ je pri prodajalcu«. Ta je značilen predvsem za manjše in primestne servise. Za tiste, ki jim po novem grozi zaprtje. Zaradi tega, ker se v straniščih, po ustnih zagotovili črpalkarjev, dogajajo tudi nefiziološke rabote, so stranišča ali stranišče zaklenjeni. In če ste natočili gorivo ali kaj kupili, ste upravičeni do ključa. Ki ga prevzamete pri črpalkarju, po navadi je navezan na daljši, delno vlažni vrvici in ga po uporabi vrnete na mesto pri blagajni. Drugi princip, veljaven na vseh teh prečudovitih in bleščečih Petrolovih servisih ob avtocestah, pa je uporaba stranišča proti plačilu. Se pravi, da po plačilu na avtomatu stopite skozi podobno zaporo, kot jih poznajo smučarske vlečnice, ali pač kopališča in stadioni. Lahko plačate s kovanci ali Petrolovo kartico. Obstaja tudi možnost nekakšnih bonusov pri vstopnini na stranišče, če ste pred tem kaj kupili, ampak je sistem zapleten in nikomur se s tem ne da ukvarjati. Če povzamemo; Petrol vam ne računa le za nalivanje, temveč tudi za izlivanje. Kar je enkraten primer krvosesnega, ali pač sodobnega urino kapitalizma. Zgodovina kapitalizma in stranišč na bencinskih črpalkah je pisana in starožitna in ko smo civilizacijsko presegli gospe, ki so čistile za vami ter poslušale trkanje kovancev ob krožniček, smo uvedli avtomatiziran in davčno mnogo bolj transparenten sistem. Vendar naša kritika ne gre samo proti izkoriščanju človeka po stranišču, kot se je dogajalo včasih; kajti tudi danes Petrolova stranišča nenazadnje še vedno nekdo čisti. V maniri radikalne levice se vprašajmo: »Ali za svoje stranke Petrol, ki kljub maržam pri plastenki vode računa dvojno ali trojno ceno od nabavne, ne bi razmislil o brezplačnem lulanju?« Ali je človeško izločanje in skrb zanj za korporacijo resnično takšen strošek, da nam tega ne bi zmogla častiti? Ker, če pogledamo bolj socialne in družbeno odgovorne pravne subjekte, je uriniranje v večini slovenskih gospodarskih družb brezplačno. In če lahko greš zastonj na stranišče v gledališčih, ki so mnogo bolj siromašna od trgovcev z nafto, ob tem pa bodo zdaj ostala še brez Petrolovih sponzorskih sredstev, potem bi si lahko zaposleno čistilko, ki jo plačujejo iz prodaje bencina, ne pa iz pol evra straniščnine, privoščili tudi na Petrolu. Ali pa nam, glede na to, da so tretjinsko v državni lasti, priznali triintridesetodstotni popust na malo potrebo. Pa še nekaj na pol preverjenega nam je prišlo na uho. V času, ko so Petrolovi managerji (beri kot piše) jockali na tiskovni konferenci, kakšna strahovita muka je prodajati bencin v Sloveniji, so imeli vsi zaposleni pod skakalnicami v Planici velik piknik, ali team bulding, ali pač zabavo, ob 80-letnici ustanovitve podjetja. Zaposlenih na Petrolu je skoraj šest tisoč, na brezplačni žur pa jih ni prišla niti polovica. Mogoče pa bi se Petrolovi direktorji najprej posvetili odnosom v kolektivu, nato straniščem, šele zatem pa maržam.

Keith discusses the new power shift in the housing market, where buyers now have more power in the Northeast and Midwest.  Ken McElroy joins us to discuss the current state of the real estate market, highlighting a significant decline in apartment building values and a predicted further drop in home ownership rates, potentially below 60%. They note that while some states, like Arizona, have surpassed pre-pandemic housing supply levels, others, like the Northeast and Midwest, still face shortages. Ken emphasizes the importance of affordability and the shift towards renting, predicting a significant increase in renters. He also shares insights on strategic property investments and the benefits of buying at current market lows. Resources: Use the discount code "KEN10" to get a discount on the Limitless Expo event. Show Notes: GetRichEducation.com/559 For access to properties or free help with a GRE Investment Coach, start here: GREmarketplace.com GRE Free Investment Coaching: GREinvestmentcoach.com Get mortgage loans for investment property: RidgeLendingGroup.com or call 855-74-RIDGE  or e-mail: info@RidgeLendingGroup.com Invest with Freedom Family Investments.  You get paid first: Text FAMILY to 66866 Will you please leave a review for the show? I'd be grateful. Search “how to leave an Apple Podcasts review”  For advertising inquiries, visit: GetRichEducation.com/ad Best Financial Education: GetRichEducation.com Get our wealth-building newsletter free— text ‘GRE' to 66866 Our YouTube Channel: www.youtube.com/c/GetRichEducation Follow us on Instagram: @getricheducation Complete episode transcript:   Automatically Transcribed With Otter.ai  Keith Weinhold  0:01   Welcome to GRE. I'm your host. Keith Weinhold, apartment building values have crashed about 30% in the past few years. Well, it's the opinion of today's qualified guest that it's going to get even worse from here. We'll also discuss why rents in the Phoenix area are declining, and a bold prediction on a collapse in the home ownership rate and the hordes of renters that that will create all today on get rich education.   Mid south home buyers, I mean, they're total pros, with over two decades as the nation's highest rated turnkey provider, their empathetic property managers use your ROI as their North Star. So it's no wonder that smart investors just keep lining up to get their completely renovated income properties like it's the newest iPhone. They're headquartered in Memphis and have globally attractive cash flows and A plus rating with a better business bureau and now over 5000 houses renovated. There's zero mark up on maintenance. Let that sink in, and they average a 98.9% occupancy rate, while their average renter stays more than three and a half years. Every home they offer has brand new components, a bumper to bumper, one year warranty, new 30 year roofs, and wait for it, a high quality renter. Remember that part and in an astounding price range, 100 to 180k I've personally toured their office and their properties in person in Memphis, get to know Mid South. Enjoy cash flow from day one. Start yourself right now at mid southhomebuyers.com that's mid south homebuyers.com   Speaker 1  1:59   You're listening to the show that has created more financial freedom than nearly any show in the world. This is get rich education.   Keith Weinhold  2:15   Welcome to GRE from the Tigris to the Euphrates to the Mississippi and across 188 nations worldwide. I'm Keith Weinhold GRE founder Forbes real estate council member, Best Selling Author, look for my work in the USA today as well, and you are back inside for another wealth building week of get rich education. What's all that really mean? Ah, I'm just another slack jawed mouth breather with a mic here. Before we get to today's guest, Ken McElroy, let me tell you about housing's new power shift and where we're at today. Three to five years ago, sellers held all the power in virtually every market because the housing supply was so miserably low everywhere. So you had more one tours of real estate and few that were willing to sell. That is still mostly true on a national level, but the new power shift is about the fact that the Northeast and Midwest are replete with home buyers. Queues of buyers are lining up for the few available properties like I've touched on before, and look low available housing supply in these areas, the Midwest and Northeast, that's not a symptom of mass in migration. Hordes of people are not stampeding into Buffalo for the nightlife. It's all due to chronic under building, partly from strict regulation, especially in the Northeast. A big part of the power shift, though, is that we now have fully 10 states that are above pre pandemic supply levels, and you'll notice that none of these are in the Midwest and Northeast. The 10 states are Arizona, which we'll talk about more today, Colorado, Florida, Idaho, Hawaii, Oregon, Tennessee, Texas, Utah and Washington. Here in these places, is where the tables have turned, because supply is catching up with demand in those 10 states. So that's where we're seeing softer home price growth and where buyers have the power, these are some of the states where you can find better deals. Motivated sellers and builders in these places will often buy down your mortgage rate, give you closing cost credits or reward you with incentives, like a free year of property management. In fact, our GRE investment coaches guide you for free to exact property addresses where builders will buy down your mortgage rate to 5% today, one of them will even give you a $9,800 post close credit instead, if you so choose. Often do. Those like that are in those 10 states. They're elsewhere too. You can get started at GRE investment coach.com, conversely, 40 states have less for sale housing inventory than they did as compared to pre pandemic times. This is where sellers still have the power some of the most competitive markets in the nation are buffalo, Hartford, Providence and Boston, where more than 10 active home buyers vie for every single listing. That's per Zillow. That's sort of the real estate equivalent of a Taylor Swift or Beyonce ticket queue. At the other end of the spectrum, shoppers have an easier time in Miami with only 2.6 shoppers per listing, followed by Houston at 3.4 New Orleans at 3.5 and San Antonio at 4.3 nationally active listings are up 31% over last year. That's quite a bit, but we're still 12% below pre pandemic, 2019 inventory levels. And is all this good news or bad news? It totally depends on who you are. If you're holding property in the Northeast and Midwest, you're pretty happy about this strong appreciation in the single family space, but in the southeast, appreciation is non existent. There's even mild depreciation, especially in parts of Florida. If you're looking to own more property in the nation's southeast quadrant, you're now enjoying less buyer competition. In fact, sellers are competing for you, and let's avoid being too assuming. Here I've been talking about things on the state level. States are not monoliths. Philadelphia is not Pittsburgh, Seattle is not Yakima. Cities have different supply situations. Even within one city, the scenario varies, of course, really the bottom line here is that today's recovery from 2022 national supply abyss has been an uneven recovery, where builders are frozen, appreciation soars, where builders hustle, buyers win. So if you're looking for deals, find that short queue.    Today's guest is a familiar one to GRE listeners. He's based in Scottsdale, Arizona, which is the Phoenix Metro. Arizona, though it's fast growing, is still just the 14th most populous state, but Arizona is an interesting market, because we're going to get to see what happens when you have an overbuilt condition, like we do there. We'll discuss that market and the national market as well. Get a key gage on the direction of rents, occupancy and prices, first in the single family space, and then we'll talk about apartments. Anyone that's paid attention to real estate that past few years. Knows that when mortgage rates spiked in 2022 single family values have held up, apartment values plummeted due to their interest rate resets. We'll get insight on if the beleaguered apartment space has bottomed out price wise, or if apartment values still have further to fall.    I'd like to welcome in frequent GRE guest, and he was also one of our earliest back in 2015 Ken McElroy. Ken authored a bunch of successful books, both within and outside of the rich dad series. He's also a well known, successful apartment syndicator with over 10,000 units across several states, and he's also in other parts of the commercial real estate sector, including billboards and self storage. So it's really great to have back on the show. Ken McElroy   Ken McElroy  8:57   good to be here, Keith, thank you. It's been 10 years, man, since we've been doing   Keith Weinhold  9:01   this? Yes, 10 years back in episode 25 since you were first here, more than a decade of this. So we know each other's work really well, and it's such an interesting time in the apartment space. I want to get to that later in our conversation today and really find out if you think that the apartment space has bottomed out. But before we do that, let's talk about the single family space. The audience should know that you can meet both Ken and I in person, as we're both faculty members on the spectacular real estate guys Investor Summit C, which is actually underway now. We're recording this just before the summit. So let's discuss the direction of rents and occupancy. We'll get to price later and Ken although most states still have a housing shortage statewide, Arizona's active housing inventory for sale is 24% above pre pandemic levels. That's what realtor.com tells us, and this. Deeply due to a lot of building, a lot of building usually does not bode well for price growth or rent growth. So tell us about rent, direction and occupancy in the single family space in the Phoenix Metro.   Ken McElroy  10:15   There's a bunch of things happening in the Arizona market. First of all, one is we've had a lot of people move here right in the last 4,5,6, years. Yeah, post pre pandemic, post pandemic, all of that. We are a pretty small state. You got Phoenix, got Tucson, you got Flagstaff, a bunch of other small cities that kind of surround some of those. But it's not like a Texas or a Washington or a lot of these California, like a lot of states, and have a lot of cities to draw from. If people move to Phoenix, that's pretty much where they're they start a lot of times, not every time, but and so it's really interesting. When we have net in migration into Arizona, it really moves the needle for most of these cities. Is kind of the point. And so we're always going to be affordable, we're always going to have great weather, it's safe. We got pretty normal politics, I should say, as compared to some of the others, we really do have a growing population. And so what happened? We had a nice run on the real estate. As you do, you know, we had a nice run on the apartments. We had a nice run on the single family that tapered off when the interest rates went up, essentially, right? You know, we actually built too much. We built too many apartments. We built too many houses. When interest rates went up, people kind of pulled back. That's what you're seeing now. So right now, it's a great time to be a home buyer. It's a great time to be a renter in most of those cities in Arizona specifically. And why would that be? It's because they have a lot of choices. So on the single family side, the listings have gone up, and therefore some of the prices have you know, people are starting to negotiate a little bit more. Now here's the interesting thing, Keith, if you measure it on last year or the year before, it has huge numbers, like you just quoted, you know, 24% but what's happening is things are on the market like 40 days, you know, you know what I mean, like from a week or two, it's doubled or tripled, as you know, that's still not a very realistic market. The market is still, in my opinion, pretty healthy. It's not unbalanced, and before it was a seller's market, and so it's just normalizing. And normalizing, to me, if you go over year, over year, over year, is I think MLS says four to six months of inventory, right? I think things are just normalizing. But if you've been through the run, this is like the end of the world, right? But it's not. It's just things are settling down, and it's the greatest time because they're supposed to be a little bit of friction between the seller and the buyer. I believe there should be just about right. It's never just right, as you know, it's usually pulls on one harder on one side or the other. But we just went through an incredible time where the sellers pretty much got whatever they wanted and the landlords pretty much got whatever they wanted, and so this is just pulling back, you know, the tide's going back out. There's no cause for concern, at least in my world at all. It's supposed to be this way, and we need affordability. We need people to be able to buy homes. We need people to be able to rent. Yeah, I'm in the landlord business, but I don't want rents to run. There needs to be a balance there, even though it's good for me, if it does, but it's not good, because what happens is, then the government gets involved, and what they need to get involved in is adding supply, right? And not capping the rents. You know, what they need to do is just work with developers. And you know, because we're growing here in Arizona right now, we're seeing a pullback, but I think it's needed. There's nothing wrong with this. It weeds out a lot of, you know, realtors that weren't doing much, that just got their license, were hanging around, say, with mortgage folks and title people and lazy contractors and all that stuff. So whenever there's a pullback, the professionals win.   Keith Weinhold  14:01   Well, this is some really good perspective here. We're all victims of the recency bias, and, yeah, you're talking largely about market normalization. What sure wasn't normal or healthy, in a lot of ways, was back in 2021 when you might have had 50 offers for one available property, and people had to bid 50k over the asking price, and they might have waived their inspection, which is typically not a good idea when we talk about rents in the direction of rents, especially there in the Phoenix metro with single family homes, which I know your wife, Daniil, is pretty intimately involved with. Typically, this new supply increases competition. It increases the competition for landlords competing for more of those tenants, which is something that typically is not good for rents. Have we seen declining rents in the local market there in Phoenix?   Ken McElroy  14:54   Of course, yeah. And I'll tell you, there's a bunch of factors. So there's always cross currents. People want one. Answer, but there's not right, like, so let's just pick on a whole bunch of things that went wrong at the tail end of all of this. It was Airbnb. Like, Phoenix and Scottsdale are a huge Airbnb market. I've rented Airbnbs there. Sure. It's incredible, right? And so what happened was a lot of people said, oh, I can buy this house, throw some furniture in it. And, you know, I can get 10,15, 20 grand a month in rent out of these things. And they were right. And then what happened was, there just was too many, so became oversaturated. So you're definitely seeing those back on the market. And so interesting fact, Heath, all you got to do is look at the pictures. And if you see bunk beds. You know, it used to be an Airbnb like, you know what I mean? So that was the one, but two, let's don't forget this run that we just had put a lot of people into the rental market for the first time on the single family side too. So we never really had this many landlords on the single family side as well. And so there's all these mistakes that people made. They bought incorrectly. They had capex work. They bought with floating rate debt. And when rates went up, they weren't cash flowing. They wouldn't know how to manage them. So So there's all this stuff that was kind of going on behind the scenes, on the apartment side of the equation, which is where I hang out. Mostly, I watch all this. And because my class A buildings are competing for single family. They have single family typically wins because it has a yard, has a garage. Nonetheless, I gotta pay attention to it. So it's been interesting to watch. At one point you could not find a home in the Scottsdale area under 500 grand period like nothing. And now, of course, those are starting to come down a little bit more, and there's some softness in the rent, so the renters are have more choices. Now, why is that? There's a couple reasons. If you're a renter and you're looking for a place, you know, I'm sure you're considering a house, but not everybody wants a house, especially if you're single or maybe it's just you and somebody else, and maybe you don't have a pet. There's a lot of reasons that people just don't want to have to a home. So you've got condos and you've got apartments and you've got homes, and then you have school districts. So people definitely want to be in certain school districts based on their children. So you have all these cross currents going on, on where people want to be. And so what does all that mean? What that means is there are certain markets, from a rental standpoint, that are doing extremely well, still, both on apartments, on condos and houses. And then there are other markets that absolutely are not just depends on the concentration of all those things and all those factors that are going on. The one thing that's actually disrupting a market more than anything is apartments and condos. Because, for example, Danielle just had a condo that she owned, and the condo was worth, let's say, 300 grand, but it's probably 25 years old now, yeah, and there's apartments going up, you know, a block from there, right? So her renter is said, you know, I'd rather go over here. Brand new amenities, nine foot ceilings, brand new fitness center, all this stuff. So apartments really do reach into that rental market a little bit. And so there is some spillover between that. But primarily what's going on in Phoenix is there's a lot of new construction. And not just Phoenix. This is Tucson and Greater Phoenix. There's a lot of new construction that was started when rates were low. They were started in 2122 and you know, like, because I'm a builder, it could be a year to 18 months when we're opening a project from the time we put our the shovel in the dirt, we're not even open for a good 18 months. So there's a lag period. And those started opening in 23,24 and certainly 25 and these big projects, two, 300 unit projects, which I have several going right now, they're one to two year lease ups, so you could be looking at two or three year lag on some of the housing that's being provided. So that's all here now that is been good for renters. There's a couple horror stories going on, and I'll just explain. So downtown Phoenix, there was a whole bunch of apartment projects and condo projects that were built trying to attract people to live in downtown Phoenix? Well, there's challenges for downtown Phoenix too, and we won't have to get into that. I don't particularly think that there was ever the real demand for the amount of housing. So what you've done is people build a lot of housing in concentrated areas around the stadium in West Phoenix, near the Cardinal Stadium downtown Phoenix, you know, right in the heart of the business district. So if you were to rent something today, it would be four months free on a 12 month lease.   Keith Weinhold  19:48   Wow, that's about the steepest concession I've ever heard of in my life.   Ken McElroy  19:54   Yes, that's today. So all you gotta do is Google it and you'll see. And the only reason that happened, Keith, is. Is because there was too many units delivered at at a short period of time, and there was the demand, wasn't there? Gosh, now go 10 miles up to Tempe, go to Chandler, go to Scottsdale. No concessions, right? So again, you know, when you look at a market, you're going to see that it typically a lot of these concentrate in certain areas. And so there's a lot of areas in Phoenix where the consumer or the renter has an upper hand a lot. And so they're driving their choices based on their monthly rent. All of that plays into this thing, but the there's areas that are rock solid. And you know that would be Scottsdale, Tempe, Chandler, Gilbert, and there's areas that are over built that would be the west side, downtown Phoenix, the south side, there's areas that there's pockets that you know are in disruption you can kind of pick your poison, right? Like, if you're a landlord, there are areas that you want to buy in areas that you don't want to buy in. And as a renter, you have the same kind of choices. So when you blend it all together, you guys get the national news. But really it's pretty pocketed, just like it can be in any market.   Keith Weinhold  21:12   Well, you bring up so many good points there. Some of these markets that have done more building than usual are in this situation where there is landlord competition for tenants. Now, nationally, we're still under built, so it's interesting to talk about one of these overbuilt conditions in that competition for tenants, like we've been talking about, in general, a tenant prefers a single family home, and it's privacy for sure. They can't always afford that, but the apartment market and the single family rental market are somewhat interrelated, because if there's so much new apartment supply, it's got the appeal of being brand new, and there might even be concessions given, like you've mentioned there Ken and that can make it very attractive for a potentially wannabe single family home renter to go ahead and rent an apartment instead. So this glut of new apartment supply actually can affect the single family rental market somewhat, and competition is really interesting. I mean, certainly in my real estate investment career, I've experienced that. The first time I ever experienced that was that I owned several doors, and they were about 25 years old, and they had garages, each one of them a new apartment complex was built close to those so brand new, and you had to drive by this new apartment complex. Everything nice, shiny new, painted new parking lot, everything a prospective tenant had to drive by that in order to get over to look to my units. That softened my rent somewhat. The one thing that saved me a bit is that my running units were in Anchorage, Alaska, I had the garages with my units. The new apartment building didn't. They only had carports, so I did have a differentiator to help soften the blow in a rental market that became more competitive. Tell us more about the competition for tenants there in Phoenix, whether that's on the single family side or the apartment side can with concessions. And does that mean that you're altering the length of leases there in the local market? Or tell us more about how you're doing that competition?   Ken McElroy  23:10   It's a great question, yeah. So I would say generally, a home is going to be about 1000 bucks more on the average, like if you were just to put a number on it, three bedroom, Rambler type home with a garage in a yard. It's going to be maybe three grand. That apartment, the equivalent was is going to be maybe two grand. So roughly, those are kind of the numbers. But what happens if you're going to rent a house, you're definitely going to pay more money, that's for sure. And of course, depending on the area, depends on the on the rent. Now what's happening in a lot of these markets, like West Phoenix, for example, where you have 1000s of units being added at once, and you get this one month, two month, three month, and the extreme, of course, being four months free, if you're a renter and your rent is two grand, but you get three months free, let's say or four, you're going to take that deal, right? Because your your your average rent is, what 12,13, $1,400 a month, not 2000 so all of a sudden, it's going to impact those single families. So what's happening right now is the apartments that got delivered in in a lot of these geographic areas, these sub markets are definitely impacting the single family rental market. Now, if you're a family and you've got kids and you got pets and you want to be in a school district, you're not even looking you're basically just trying to find the best deal on a home. I get that. But if you have a choice, the rents are about the same, you're going to take the house, sure period I would, you would. So now what's happening is there's, there's such a difference between the rental price of a home versus the rental price of a brand new apartment that people are going to gravitate to the apartments, because those landlords trying to fill those things up are scrambling and marketing to anybody. And everybody and cutting whatever deals they can, because they're just trying to get out of those construction loans. It's a weird market right now. And of course, there are areas Keith that this does not exist at all, right, like you go into like Tempe, and you're not going to have because it doesn't have the available land, you know, which is around Arizona state for example, the Arizona State University. You go into North Scottsdale, you're not going to find this because North Scottsdale doesn't like apartments. And, you know, the homes are a million bucks and up, but there are definitely pockets where this is happening. So if you're a renter and you have choices, this is a great time for you and and to be honest, it's about time, because it was a seller's market and a landlord's market for a long time, and so it's just reverting back to the mean.   Keith Weinhold  25:46   Let's wrap up the discussion about rents and occupancy with what's happening nationally. Ken, since in apartment buildings, you invest in multiple states there, we know, for example, that the home ownership rate recently fell from 65.7% down to 65.1% fewer homeowners means more renters. But that doesn't necessarily mean that they're all going to be absorbed immediately, either. So talk to us about that.    Ken McElroy  26:13   There's an affordability problem, right? We haven't seen a massive adjustment with house prices now you have in areas, of course, I saw your recent podcast on Florida. You know how right the price of a house is, is less than a car today? Yeah, you're right, like so, but what's happening is there are markets that are pulling back, right. There are markets that had a bigger bubble than others, and they're pulling back. And so there's great deals in those markets. A lot of areas in Florida being one of those markets, there are other markets where you don't have that. So we are definitely seeing the same thing. And so we're having, in my opinion, it's the greatest time, because you have people that are, I think, should be able to buy a home. But interest rates seem to be holding at Six 7% and the pricing, albeit, hasn't run like it has, but it's certainly not pulling back like crazy either. It's still over 400 on the average, you know. So if you look at the delta between what it costs to buy a home just mortgage only, and you look at what it costs to rent, it's never been bigger. So the difference between your rent, the rent and a mortgage, has never been bigger. And the other thing Keith, that doesn't get talked a lot about are everything non interest rate and everything non mortgage. So let's start talking about insurance. Let's talk about property tax. Let's talk about, you know, capex. So there's a really good survey that bankrate.com did that said that right now, the average cost to own a home, not mortgage, is 1500 a month. So now that's average. I'm sure there's some that's less. I'm sure it's some that higher. So when you take 1500 a month to own it, plus the mortgage you're talking about quite a bit. It's a heck of a financial commitment when you can just rent for 12, 1314, 1500 and call it a day, you're going to move the needle twice as fast, and you're going to be able to get out of whatever financial situation you're in twice as fast when you don't have all those other costs. So what's really going on now? And the reason why you're starting to see this home ownership rate go down, and I actually make a prediction, gonna do it right now on your show, I think it's gonna go down below 60. I think for the first time in our history, we're gonna see home ownership in the 5050 nines, which is a massive statement. But if you take a look at under Obama got up to 69 and then it was, first of all, it was Clinton, and before that, and then kind of ran, but then it kind of got pulled back under the Bush, and then Obama kind of took the brunt of it. You know, when all that stuff was falling out, but it's been falling, and it's falling. Why it's falling? Because people can't afford a home, and they need to be able to afford a home. So we can't build affordably. The single family market is not affordable, and inflation surpassing wage growth, so you have this massive shift of people, in my opinion, moving from home ownership to the rental side. And there was a time where 1% shift Keith was 1 million people,   Keith Weinhold  29:27   1 million new renters, with every 1% drop in the home ownership rate   Ken McElroy  29:32   was 1 million people. So imagine that it doesn't sound like much when you go 65.7 to 65.1 right? That's a lot of people. When you got about 142 million people in the US, or a billion, right? 340   Keith Weinhold  29:46   350 million in 300 Yeah, about 145 million houses,   Ken McElroy  29:51   45 million, yeah, something like that. So you start to take a look at these numbers. They're massive. So these little 1% movement. It is a lot of people. I think we're going to continue to see it. People need to put their stake in the ground here and get on the landlord side of this, because we're going to see a massive shift of people because they can't afford they're going to be permanent renters, renters for life. And it's not good. I'm not advocating, but it just is what it is, with wage destruction, with inflation, with the affordability, the way it is, people are going to be forced into the rental side of the equation, whereas before, we were always kind of working on the fluctuations of the interest rates and the policies of the President, let's say, or whatever it was, to try to get people to be homeowners, or whatever it might be. Now, we might be in some kind of a permanent state unless something really changes, because we're four or 5 million houses short in the US as a result of the last 20 years. As you know,   Keith Weinhold  30:54   I recently saw a media article that was titled The hidden cost of home ownership, and they were talking about hidden costs as things like maintenance, property taxes, property insurance, utilities. I don't know how in the heck those costs are hidden. Any prospective homeowner needs to be aware of those costs, and inflation impacts those costs, where inflation cannot impact your fixed rate, principal and interest payment. There we have it a brazen prediction from Ken that the home ownership rate will drop below 60% in this cycle and the hordes of renters that that's going to release, we're talking about the direction of rents and occupancy in both Phoenix and the nation at large. We're going to come back after the break and talk about the direction of real estate prices. You're listening to get rich education. Our guest is Ken McElroy. I'm your host. Keith Weinhold.   the same place where I get my own mortgage loans is where you can get yours. Ridge lending group and MLS, 42056, they provided our listeners with more loans than anyone because they specialize in income properties. They help you build a long term plan for growing your real estate empire with leverage. 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Can you corroborate Is that what you're seeing as far as values go there on the ground, or is it different in the sub markets    Ken McElroy  34:20   it's definitely different in the sub markets, but I would definitely concur that it is flat, Keith, it's a very interesting time. People are used to selling things fast. Oh, I'm going to sell this and it trades, and then they're moving it right to something else. They're not used to the markets that you and I grew up in, right which is, you remember the old days where we would list something and it might be on the market for three or four or five months. These people, these kids, these let's last 10 years, they have never seen anything like that. So for me, I think we're just moving back to what I would consider to be normal. I don't see a problem with flat at all. In fact, I think homes are unaffordable and. And flat isn't necessarily bad. That means that both sides are kind of doing deals. That means the seller doesn't hold the cards, and it means the buyer doesn't hold the cards, and so right now is a great time to buy because if a seller is sitting on something for even a couple months, they're not used to it. There's deals to be had right now. And it's, I think, if you have the dry powder and you have the ability to move, is a great time to buy.   Keith Weinhold  35:26   You had mentioned, when we were talking outside this show, that your wife, Danielle has made some interesting moves in her single Yeah, yeah, tell us about that.   Ken McElroy  35:36   It's a fantastic move. I mean, one of the greatest, obviously, I'm doing these big apartment deals, she can't relate, and she's doing these small houses, which she loves. She doesn't like debt. She likes to pay them off, and she manages them all herself. And so she bought this condo years ago, and it's worth about 300 grand, and she paid like 164 years ago, and the rents have dropped. You know, per our last conversation, they were used to be around 1900 now they're around 1700 but the same time, rents have dropped. And why would rents drop? Because there's more competition. There's new apartment buildings being built around the area. The tenants have more choices. Again. There's, you know, rents came down a little bit. So she lost couple 100 bucks a month there, and the HOA hit her with costs. Our insurance went up, our landscaping went up, so all of a sudden their HOA fees started going up. So the rents came down, and the HOA costs went up, squeezes on, yeah, so all sudden she's got this squeeze and so she's looking at it. And I said, you really ought to take a look at your what we call imputed equity. In other words, she has no debt on this thing, so she literally has another way to say it is she has 300,000 sitting in a condo, an asset. What does it matter? What it is and she gets maybe, what does she make it 500 a month, maybe $6,000 okay? Net Cash Flow a year, right? Nothing. So you take your 6000 you divide it by your 300 and it's not a very good return. Yeah, eight. Okay, so she's looking at what we call imputed equity. What's your return on the equity you have? Okay, so she said, I'm going to start looking at these homes that have, like you said, the garages and the yards, because again, we know that should be able to get closer to $3,000 a month on those so she started scouring, and she found one, and it was about 450 grand. So she had to come up with another 150 grand. And so what she did was she sold the unit, the condo she had that had rising HOA and lowering rents for 300 she did a 1031 exchange into the $450,000 house, and then she had to come up with another 150 but her rent now is three grand, and she was able to increase her cash flow By almost $1,000 for a month. So that extra 150 generated about $12,000 of net cash flow gain. And so again, she just purely looked at the math on one and did a 1031 moved it into another one. And now she's super happy it's in a home. And as you know, in a lot of these homes, not always, but you tend to have people that don't move as much. So this the guy that moved in has his son. He has him in a local school. He's young. He's probably going to be there for years, so she's probably not going to have the turnover that she would in a condo project. That's really more like an apartment building. That's what she just did. And so don't forget, when prices are high, you're exiting high and buying high. When prices are in flux, a little bit like they are flat, you're going to be able to find deals. So it's a really good time to take a look at imputed equity and what's your real, true return, and is there a better asset class for you to be able to move that money into? Because this is truly about managing money and maximizing your return on your own dollars. And that's a move that she just made, and she's going to be on the cruise. She'll see you, and I'm encouraging her to actually do a talk on it, because there's a lot more detail to how she pulled it off. But it only took her, like, four or five months to do it, and it worked perfectly.   Keith Weinhold  39:22   Yeah. Well, congratulations there. I'm a fan of debt around here, as you know, on the summit, Daniel and I'll have to have a chat, and I'll talk about why financially free beats debt free and all of that. But I would love to hear her reply. She probably has some really good, sound reasoning for that can nationally apartment values have followed perhaps an astounding 30% because the way I see it is that three or four years ago, there were tons of new apartment starts with those freakishly low mortgage rates like you touched on. Start to completion of an apartment building can be as long as two years. So those starts have now become completion. Dollars, and they need to be leased up. So that's the glut, and that's why apartment vacancies are common in a lot of American markets today, with higher mortgage rates now, we have fewer starts and with less new future apartment supply coming onto the market, which would have been completed in 2025 to 2027 I mean, that's something that could portend well for the future, but the current apartment glut still needs to get absorbed by tenants. So talk to us about that.   Ken McElroy  40:29   That's a great, great tee up for me. Okay, so I'm going to do seven transactions this year. Now, that's all 200 plus units. So I bought 360 unit building and brand new in Las Vegas. We just closed on a 282 unit in north Scottsdale. We bought 152 unit in Phoenix. And on and on and on and on and on. We're really, really, really busy right now, because, to your point, why would we be doing that now? Here's why apartments are valued based on how they're operating period. So high vacancy, high concession, flat rents, high expenses. That's all bad if you own it, it's really good if you buy it. So you want to buy at today's numbers, and that's what we're doing. We're buying at today's numbers, and we think that there's a little window that we've got through 26 to be able to acquire a bunch of apartments at these low values. To your point, they've definitely dropped. There's another case as to why, because the next piece is when the mortgage rate's high, cash flow is less. So when your mortgage payment is higher, all things being equal, your cash flow is less. So when rates went up, then people could pay less, and that drove values down. So if we could lock in today with all this disruption, so that's what we've been focused on. And it's been a very exciting year for our company. And in addition to that, to your point, but you and I have never spoken about, we just broke ground on another deal, and we're just leasing up on a deal down in Tucson that we're we're a 300 unit building that we're just finishing, and we just broke ground on a 312 unit, and we got a couple more slated because we're trying to break ground today. And why would we would break ground today because there's not a lot of subcontractors bidding on the stuff. So we're getting better pricing. The interest rates are high. This is true. That's not necessarily a positive, but we're breaking ground in anticipation of opening in two years, when all this stuff gets absorbed, we're going to be opening and so, you know, if we could time it today with 25 we break ground, we're going to open in 27 this stuff will be absorbed by then the blood will be in the streets in 25 and 26 and maybe early 27 and then it's going to shift again, Keith, and you know, people are slow to react. And so we think we're going to hit this little window at optimal time to be able to open up brand new product in two years.   Keith Weinhold  43:05   That's great. Ken we've been having these conversations for over a decade now, I know, and the way that I see it is that MC companies, your company, was built exactly for times like this. Is that to say that you think apartment values have reached their bottom,   Speaker 2  43:22   so I actually don't think they have yet. That's a funny comment, and here's why, because we also went through this extend and pretend time with lenders, right? So the lenders, whoever bought something, was trying to hold on to it forever. But now, with this new administration and the battle with the, you know, Powell still in office for another year. Who knows really, what's going to happen with rates? Maybe a quarter here, quarter there, whatever. But the reality is, there's no relief in sight. It doesn't appear. Because now we have this high vacancy, we have high expenses, and I don't think there's going to be a lot of interest rate relief. And so I think the lenders are going, you know what? We're gonna start listing these. So we're starting to see just in the last few months, brokers call. I got a call the other day from a broker out of San Antonio. He said a lender called me. They gave me nine deals. He said the keys, they gave me the keys on nine deals now and then I got another one in Dallas. It was 35% occupied, and the loan was 25 million, and the guy said they would take 14, so that's an $11 million haircut to the lender. So you're starting to see these. These are coming into my emails, right? Because they flooded. We are kind of deal. Yeah, it's so good. Now I've passed on everything so far because I think the knife is still falling a little bit, and so I think we're in the first few innings of seeing these kinds of deals, and there needs to be a lot of them, right? Like they need to be everywhere. And then when they're everywhere, everything's listed, and people are looking at them, and there's all this interest, then I think we're going to be at the bottom, but we're darn close. I mean, we're darn close, I would say. Right? We're probably by end of the year close. That's why, if a prudent investor, is getting their dry powder together, now they're meeting with their broker relationships, now they're meeting with their lender relationships, now they're putting together their LPs, and they're starting to go out and look at deals. Now, even if it's no no, no, no, no, no, no. This is the time for you to build relationships and be ready to strike when you start to see stuff this year, toward the end of the year, will will be the bottom and then I also think next year is going to be rocky for a lot of things. Then you're going to see a lot of lender write offs.    Keith Weinhold  45:37   This is really good guidance for what you the listener, can accidentally do if you are a prospective apartment building buyer. Great insight there. Ken. Ken, yes, you and I are about to be together on the real estate guys Investor Summit to see but there's another great event that begins at the end of next month that you put together.    Ken McElroy  45:59   Tell us about that. This is great. I have now we have about 4000 investors. So these are all high net worth people that invest with us. And you know, this is our 24th year in business. So when I meet with all of them, we used to do these investor summits, they would say, What about gold? What about silver? What about oil? What about water? What about timber? What about self storage? What about Office? What about retail? So I'm like, I'm going to create a conference where I can have everything in one spot, and we can invite high net worth, accredited people be able to come there and listen to the best of the best. So no professional speakers, just people that are really doing deals. You know, like we have guys that are building wellness spas and hospitality. Obviously, we have some single family. We got multi family. Got a retail guy, industrial guy, commercial guy, office guy. We got a gold panel. And then we got these economists, and you probably know some of the names. So we got George gammon coming. We got Jeff Snyder, who's unbelievable Euro dollar University. He's coming. We got Brent Johnson, who created what's called the milkshake theory. And just Google it, you'll see it's all about the central banks. We got Jim Rickards, who wrote currency wars and a new case for gold. And we got Lawrence Lepard, who just wrote this book called The Big print. All coming as speakers unpaid, and they're just going to try to deliver the best value they can to the people. Because I tell you what, Keith, I don't know about you, but it's confusing. I'm reading about tariffs, I'm reading about inflation. I'm reading about unemployment. I don't know where interest rates are going. I'm feeling it at the street level, at the main street level, with my apartment buildings, they're harder to manage. The expenses are going up. I try to create this environment to where people can show up and hear real real things, and they can make real decisions and course correct, right, and also take advantage of of some other things. We're also having a manufacturing panel, and I got a whole panel just on the Trump tax bill, because the opportunity zones, the bonus depreciation, all the stuff, these are things that you can do to be able to take action. So this is limitless expo.com. Since we're on your show, they can do KEN10. KEN10, which is a discount, the prices do go up. Obviously they're the highest. They are in July, because that's when the event is but in June, they're still lower. So I would suggest that people go this year, especially with this new administration, and everybody's like, what is going on? Hopefully we can it's starting to clear up some of the confusion that we all have right now and try to figure things out.   Keith Weinhold  48:36   It seems like all we do know is that we don't know limitless ought to help clear some of that up. It is July 31 to August 2. Tell us where it's taking place.   Ken McElroy  48:47   Yeah, it's at the gaylord in Texas, in Dallas, Texas. It's called the Gaylord Texan. It's limitless expo.com. Now we did it last year. There'll be 2000 people. We have 50 speakers. We have five stages, 50 speakers. It's a really high end event. What I mean by that is these are real people doing real deals with real businesses, real investors. It's been fantastic. I haven't had to pay speakers because of the quality of the attendee. That says a lot. It's really been interesting and great. And by the way, I don't really think having big speakers to sell tickets is the way to go. I'd rather have a real quality event, and it's really interesting once you set your mind on something. Because my investors and other investors show up because they do more than invest in just what we do. Like real estate. Everybody wants a little piece of real estate, but they also want to know about Bitcoin. They also want to know about gold, you know. And these are things that I'm not that proficient in, you know. I want to hear from experts in those fields. So it's really been a great, great event.   Keith Weinhold  49:48   You kind of crowdsource the need. You listen to what your audience was asking about, and then you delivered it for them. Limitless expo.com, use the discount code KEN10 to get. Get a discount. Ken McElroy, it's been great chatting about the direction of rents and prices in the both single family space and apartment space. It's been great having you back on the show.   Ken McElroy  50:09   Yeah, for sure. Keith, always great. Man. Good seeing you.   Keith Weinhold  50:18   Yeah. Ken, decidedly bullish on buying real estate, even calling it a great time to buy. He basically believes that because buyers have more power than they did three and four years ago, and they have more options, an emphatic prediction that the home ownership rate will fall below 60% there is profundity here. I mean, the census figures on this go back to the 1960s and the lowest it's fallen in all that time was 63% by the way, homeownership peaked in 2004 at 69% apartment values have crashed about 30% and It's probably going to get worse. So the worst isn't over, but likely will be by about the end of this year. So in Ken's opinion, most of the worst is over. I'm reading in between the lines there on that one. Hey, I hope you've been enjoying this show lately. Next week, we're going to change things up somewhat here. Recently, we've had rather prominent guests on the show, like the father of Reaganomics, David Stockman, then Russell gray last week, this week, the owner of 10,000 running units, Ken McElroy. And you know their perspectives and experience and influence, they are terrific. And I trust that you've learned from them. Next week, we'll have two GRE listeners here on the show, regular listeners, perhaps people more like you, because you can probably relate well to their stories. Until then, I'm your host. Keith Weinhold, don't quit your Daydream.   Speaker 3  51:59   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  52:22   You know, whenever you want the best written real estate and finance info, oh, geez, today's experience limits your free articles access, and it's got paywalls and pop ups and push notifications and cookies disclaimers. It's not so great. So then it's vital to place nice, clean, free content into your hands that adds no hype value to your life. That's why this is the golden age of quality newsletters. And I write every word of ours myself. It's got a dash of humor, and it's to the point, because even the word abbreviation is too long. My letter usually takes less than three minutes to read, and when you start the letter, you also get my one hour fast real estate video. Course, it's all completely free. It's called the Don't quit your Daydream letter. It wires your mind for wealth, and it couldn't be easier for you to get it right now. Just text gre 266, 866, while it's on your mind, take a moment to do it right now. Text GRE TO 66866   The preceding program was brought to you by your home for wealth building, get richeducation.com    

In this week's MBA Admissions podcast we began by discussing some of the recent activity on LiveWire, which includes a little movement on wait lists. We then continued our discussion on the recent U.S. Government decisions as they pertain to international MBA students; visa interviews are now available again. No doubt this whole situation is causing great anxiety. Graham highlighted Clear Admit's new summer series of webinars, which focuses on top MBA programs' admissions essays, which will be attended by more than 20 of the top MBA programs. Signups are here: https://bit.ly/mbaessay0725 Graham then noted two new articles, posted on Clear Admit, regarding Chicago / Booth. The first addresses a generous donation for their health care focus, the second addresses an entrepreneurial contest which awarded more than $2 million to the top 10 finalists. Graham also highlighted three admissions tips that focus on addressing gaps in unemployment, and two “myth busters” that dispel the notions that you need to have experience in finance or consulting to apply for a top MBA, or that you need perfect test scores for the very top MBA programs. We continue our new series of Adcom Q&As, which is a yearly series where we interview the admissions leaders at all the top MBA programs; this week we have Q&As from Washington / Foster, Cambridge / Judge, and Michigan State / Broad. Finally, Graham highlighted two Real Humans alumni spotlights, alums from Emory / Goizueta working at BCG, and Duke / Fuqua working at Accenture. For this week, for the candidate profile review portion of the show, Alex selected two ApplyWire entries and one DecisionWire entry. This week's first MBA admissions candidate has two years of work experience to date and is originally from Japan. They have yet to complete the GMAT test. This week's second MBA candidate has five years of experience with a GRE of 326. We believe their overall profile is very strong, but we discussed the merits of retaking the GRE. The final MBA candidate is deciding between London Business School and INSEAD. This episode was recorded in Paris, France and Cornwall, England. It was produced and engineered by the fabulous Dennis Crowley in Philadelphia, USA. Thanks to all of you who've been joining us and please remember to rate and review this show wherever you listen!

In considering the long-term relationships I've observed that have done the distance, I've noticed two commonalities. The folks who end up staying together either stop short or go long. Using an extended metaphor, I explain what this means for the sexual marketplace, and why many people meet with suboptimal outcomes. These two approaches seem to be the two paths to a relationship. Join my community: https://the-captains-quarters.mn.co Buy my book, "The Value of Others" Ebook: https://amzn.to/460uGrA Audiobook: https://amzn.to/3YfFwbx Paperback: https://amzn.to/3xQuIFK Book a paid consultation: https://oriontarabanpsyd.com/consultations Subscribe to my newsletter: https://oriontarabanpsyd.com Social Media TikTok: https://www.tiktok.com/@oriontaraban Facebook: https://facebook.com/profile.php?id=100090053889622 LinkedIn: https://www.linkedin.com/in/orion-taraban-070b45168/ Instagram: https://instagram.com/psyc.hacks Twitter: https://twitter.com/oriontaraban Website: https://oriontarabanpsyd.com Orion's Theme: https://www.youtube.com/watch?v=WrXBzQ2HDEQ Thinking of going to grad school? Check out STELLAR, my top-rated GRE self-study program based on the world's only empirically-validated test prep system. Use the code "PSYCH" for 10% off all membership plans: https://stellargre.com. Become a Stellar affiliate and earn a 10% commission for every membership purchased by a new student you conduct into the program: https://stellargre.tapfiliate.com. GRE Bites: https://www.youtube.com/@grebites4993 Become a Psychonaut and join PsycHack's member community: https://www.youtube.com/channel/UCSduXBjCHkLoo_y9ss2xzXw/join Sound mixing/editing by: valntinomusic.com Presented by Orion Taraban, Psy.D. PsycHacks provides viewers with a brief, thought-provoking video several days a week on a variety of psychological topics, inspired by his clinical practice. The intention is for the core idea contained within each video to inspire viewers to see something about themselves or their world in a slightly different light. The ultimate mission of the channel is to reduce the amount of unnecessary suffering in the world. #psychology #dating #relationship

The sooner you realize that no one is coming to save you, the sooner you will get busy addressing the pain and dysfunction in your life. Take radical responsibility, starting with the assumption that everything that happens to you – for good or bad – is your fault. Since you hold the ability to respond to the conditions you find yourself in, then it must be true that you are the one you are waiting for. Join my community: https://the-captains-quarters.mn.co Buy my book, "The Value of Others" Ebook: https://amzn.to/460uGrA Audiobook: https://amzn.to/3YfFwbx Paperback: https://amzn.to/3xQuIFK Book a paid consultation: https://oriontarabanpsyd.com/consultations Subscribe to my newsletter: https://oriontarabanpsyd.com Social Media TikTok: https://www.tiktok.com/@oriontaraban Facebook: https://facebook.com/profile.php?id=100090053889622 LinkedIn: https://www.linkedin.com/in/orion-taraban-070b45168/ Instagram: https://instagram.com/psyc.hacks Twitter: https://twitter.com/oriontaraban Website: https://oriontarabanpsyd.com Orion's Theme: https://www.youtube.com/watch?v=WrXBzQ2HDEQ Thinking of going to grad school? Check out STELLAR, my top-rated GRE self-study program based on the world's only empirically-validated test prep system. Use the code "PSYCH" for 10% off all membership plans: https://stellargre.com. Become a Stellar affiliate and earn a 10% commission for every membership purchased by a new student you conduct into the program: https://stellargre.tapfiliate.com. GRE Bites: https://www.youtube.com/@grebites4993 Become a Psychonaut and join PsycHack's member community: https://www.youtube.com/channel/UCSduXBjCHkLoo_y9ss2xzXw/join Sound mixing/editing by: valntinomusic.com Presented by Orion Taraban, Psy.D. PsycHacks provides viewers with a brief, thought-provoking video several days a week on a variety of psychological topics, inspired by his clinical practice. The intention is for the core idea contained within each video to inspire viewers to see something about themselves or their world in a slightly different light. The ultimate mission of the channel is to reduce the amount of unnecessary suffering in the world. #psychology #selfdevelopment #growth

Founder of the Raising Capitalists Foundation and previous co-host of The Real Estate Guys Radio show, Russell Gray, joins Keith to discuss the historical and current devaluation of the U.S. dollar, its impact on investors, and the broader economic implications. Gray highlights how the significant increase in interest rates has trapped equity in properties and affected development. He explains the shift from gold-backed currency to paper money, the role of the Federal Reserve, and the impact of the Bretton Woods Agreement.  Gray emphasizes the importance of understanding macroeconomic trends and advocates for Main Street capitalism to decentralize power and promote productivity. He also criticizes the idea of housing as a human right, arguing it leads to inflation and shortages. Resources: Connect with Russell Gray to learn more about his "Raising Capitalists" project and his plans for a new show. Follow up with Russell Gray to get a copy of the Beardsley Rummel speech transcript from 1946. follow@russellgray.com Show Notes: GetRichEducation.com/558 For access to properties or free help with a GRE Investment Coach, start here: GREmarketplace.com GRE Free Investment Coaching: GREinvestmentcoach.com Get mortgage loans for investment property: RidgeLendingGroup.com or call 855-74-RIDGE  or e-mail: info@RidgeLendingGroup.com Invest with Freedom Family Investments.  You get paid first: Text FAMILY to 66866 Will you please leave a review for the show? I'd be grateful. Search “how to leave an Apple Podcasts review”.  For advertising inquiries, visit: GetRichEducation.com/ad Best Financial Education: GetRichEducation.com Get our wealth-building newsletter free— text ‘GRE' to 66866 Our YouTube Channel: www.youtube.com/c/GetRichEducation Follow us on Instagram: @getricheducation Complete episode transcript:   Automatically Transcribed With Otter.ai  Keith Weinhold  0:01   Welcome to GRE. I'm your host. Keith Weinhold, what's the real backstory on why we have this thing called the dollar? Why it keeps getting debased? What you can do about it and when the dollar will die? It's a lesson in monetary history. And our distinguished guest is a familiar voice that you haven't heard in a while. Today on get rich education.   Mid south home buyers, I mean, they're total pros, with over two decades as the nation's highest rated turnkey provider, their empathetic property managers use your ROI as their North Star. So it's no wonder that smart investors just keep lining up to get their completely renovated income properties like it's the newest iPhone. They're headquartered in Memphis and have globally attractive cash flows and A plus rating with a better business bureau and now over 5000 houses renovated. There's zero markup on maintenance. Let that sink in, and they average a 98.9% occupancy rate, while their average renter stays more than three and a half years. Every home they offer has brand new components, a bumper to bumper, one year warranty, new 30 year roofs. And wait for it, a high quality renter. Remember that part and in an astounding price range, 100 to 180k I've personally toured their office and their properties in person in Memphis, get to know Mid South. Enjoy cash flow from day one. Start yourself right now at mid southhomebuyers.com that's mid south homebuyers.com   Russell Gray  1:54   You're listening to the show that has created more financial freedom than nearly any show in the world. This is get rich education.   Keith Weinhold  2:10   Welcome to GRE from St John's Newfoundland to St Augustine, Florida and across 188 nations worldwide. I'm Keith weinholden. You are inside get rich education. It's 2025. The real estate market is changing. We'll get into that in future. Weeks today. Over the past 100 years plus, we've gone from sound money to Monopoly money, and we're talking about America's currency collapse. What comes next and how it affects you as both an investor and a citizen.   I'd like to welcome in longtime friend of the show and someone that I've personally learned from over the years, because he's a brilliant teacher, real estate investors probably haven't heard his voice as much lately, because until last year, he had been the co host of the terrific real estate guys radio show for nearly 20 years. Before we're done today, you'll learn more about what he's doing now, as he runs the Main Street capitalist platform and is also founder of the raising capitalists foundation. Hey, it's been a few years. Welcome back to GRE Russell Gray.   Russell Gray  3:19   yeah, it's fun. I actually think it's been maybe 10 years when I think about it, I remember I was at a little resort in Mexico recording with you, I think in the gym. It was just audio back then, no video.    Keith Weinhold  3:24   Yeah, I remember we're trying to get the audio right. Then I think you've been here more recently than 10 years ago. But yeah, now there's this video component. I actually have to sit up straight and comb my hair. It's ridiculous. Well, Russ, you're also a buff of monetary history. And before we discuss that, talk about the state of the real estate market today, just briefly, from your vantage point.   Russell Gray 1  3:55    I think the big story, and I'm probably not telling anybody anything they don't know, but the interest rate hike cycle that we went through this last round was quite a bit more substantial, I think, than a lot of people really appreciated, you know. And I started talking about that many years ago, because when you hit the zero bound and you have 6,7,8, years of interest rates below half a point, the change when they started that interest rate cycle from point two, 525 basis points all the way up to five and a quarter? That's a 20x move. And people might say, well, oh, you know, I go back to what Paul Volcker did way back in the day, when he took interest rates from eight or nine to 18. That was only a little bit more than double. Double is a far cry from 20x so we've never seen anything like that. Part of the fallout of that, as you know, is a lot of people wisely, and I was on the front end of cheerleading This is go get those loans refinanced and lock in that cheap money for as long as possible, because a loan will actually become an asset. The problem is, when you do that, you're kind of married to that property. Now it's not quite as bad. As being upside down in a property and you can't get out of it, but it's really hard to walk away from a two or 3% loan in a Six 7% market, because you really can't take your same payment and end up getting more house. And so that equity is kind of a little bit trapped, and that creates some opportunities, but I think that's been the big story, and then kind of the byproduct of the story. Second tier of the story was the impact it had on development, because it made it a lot harder for developers to develop, because their cost of funds and everything in that supply chain, food chain, you marry that to the 2020, COVID Supply Chain lockdown and that disruption, which, you know, you don't shut an economy down and just flick a switch and have it come back on. And so there's all of that. And then the third thing is just this tremendous uncertainty everybody has, because we just went from one extreme to another. And I think people, you know, they don't want to, like, rock the boat, they're going to kind of stay status quo for a little bit, whether they're businesses, whether they're homeowners, whether they're anybody out there that's thinking about moving them, unless life forces you to do it, you're going to try to stay status quo until things calm down. And I don't know how close we are to things calming down.   Keith Weinhold  6:13   One word I use is normalized. Both the 30 year fixed rate mortgage and the Fed funds rate are pretty close to their long term historic average. It just doesn't feel that way, because it was that rate of increase in 2022 that caught a lot of people off guard, like you touched on Well, Russ, now that we've talked about the present day, let's go back in time, and then we'll slowly bring things up to the present day. The dollar is troubled. It's worth perhaps 3% of what it was 100 years ago, but it's still around since it was established in the Coinage Act of 1792 and it's still the world reserve currency. In fact, only three currencies have survived longer than the dollar, the British pound, the Japanese yen and the Swiss franc. So talk to us about this really relentless debasement of the dollar over time, including the creation of the Fed and the Bretton Woods Agreement and all that.   Russell Gray 7:09   That's a big story, as you know, and I always like to try to break it down a little bit. One of my specialties I'd like to believe, is I speak macro and I speak Main Street. And so when I try to break macroeconomics down, I start out with, why do I even care? I mean, if I'm a main street investor, why do I even care? In 2008 as you know, is a wipeout for me. Why? Because I didn't think anything had happened in the macro I didn't think Wall Street bond market. I didn't think that affected me. One thing I really cared about was interest rates. And I had a cursory interest in the bond market. We just try to figure out where interest rates were going. But for the most part, I thought, as a main street real estate investor, I was 100% insulated. I couldn't have been more wrong, because it really does matter, because the value of the dollar, in other words, the purchasing power of the dollar, and usually you refer to that as inflation, right? If inflation is there, the dollar is losing its purchasing power, and so the higher the inflation rate, the faster you're losing that purchasing power. And you might say, well, maybe that matters to me. Maybe it does. But the people who make the money available to the mortgage community, right to the real estate community to borrow that comes out of the bond market. And so when people go to buy a bond, which is an IOU, they're going to get paid back in the currency that they lent in, in this case, dollars. And if they know, if they're making a long term investment in a long term bond, and they're going to get paid back in dollars, they're going to be worth a whole lot less when they get them back. One of the things they're going to want is compensation for that time risk, and that's called higher interest rates. Okay, so now, if you're a main street investor, and higher interest rates impact you, now you understand why you want to pay attention. Okay, so let's just start with that. And so once you understand that the currency is a derivative of money, and money used to be you mentioned the Coinage Act Keith money, which is gold, used to be synonymous with the dollar. The dollar was only a unit of measure of gold, 1/20 of an ounce. It was a unit of measure. So it's like, the way I teach people is, like, if you had a gallon of milk and you traded, I'm a farmer, and I had a lot of milk, and so everybody decided they were going to use gallons of milk as their currency. Hey, where there's a lot of gallons of milk. He's got a big refrigerator. We'll just trade gallons of milk. Hey, Keith, I really like your beef. I you know, will you sell me some, a side of beef, and I'll give you, you know, 100 gallons of milk, you know, like, Oh, that's great. Well, I can't drink all this milk, so I'm going to leave the milk on deposit at the dairy, and then later on, when I decide I want a suit of clothes, I'll say, well, that's 10 gallons of milk. So I'll give the guy 10 gallons of milk. So I just give him a coupon, a claim, a piece of paper for that gallon of milk, or 20 gallons of milk, and he can go to the dairy and pick it up, right? And so that's kind of the way the monetary system evolved, except it wasn't milk, it was gold. So now you got the dollar. Well, after a while, nobody's going to get the milk. They don't care about the milk. And so now. Now, instead of just saying, I'll give you a gallon of milk, you just say, well, I'll give you a gallon. And somebody says, Okay, that's great. I'll take a gallon. They never opened the jug up. They never realized the jug is empty. They're just trading these empty jugs that used to have milk in them. Well, that's what the paper dollar is today. It went from being a gold certificate payable to bearer on demand, a certain amount of gold, a $20 gold certificate, what looks exactly like a $20 FEDERAL RESERVE NOTE. Today they look exactly the same, except one says FEDERAL RESERVE NOTE, which is an IOU backed by nothing, and the other one said gold certificate, which was payable to bearer on demand, real money. So my point is, is he got money which is a derivative of the productivity, the beef, the soot, the milk, whatever, right? That's the real capital. The real capital is the goods and services we all want. Money is where we store the value of whatever it is we created until we want to trade it for something somebody else created later. And it used to be money and currency were one in the same, but now we've separated that. So now all we do is trade empty gallons, which are empty pieces of paper, and that's currency. So those are derivatives, and the last derivative of that chain is credit. And you had Richard Duncan on your show more than once, and he is famous for kind of having this term. We don't normally have capitalism. We have creditism, right? Everything is credit. Everything is claims on wealth, but it's not real wealth, and it's just when we look at what's going on with our current administration and the drive to become a productive rather than a financialized society, again, as part of this uncertainty that everybody has. Because this is not just a subtle little adjustment on the same course. This is like, No, we're we're going down a completely different path. But fundamentally, your system operates on this currency that is flowing through it, like the blood flowing through your body. And if the blood is bad, your body's sick. And right now, our currency is bad, and so it creates problems, not just for us, but all around the world. And now we're exacerbating that. And I'm not saying it's bad. In fact, I think it's actually it's actually good, but change is what it is, right? I mean, it can be really good to go to the gym and work out before we started recording, you talked about your commitment to fitness, and that if you stop working out, you get unfit, and it's hard to start up again. Well, we've allowed our economy to get very unfit. Now we're trying to get fit again, and it's going to be painful. We're going to be sore, but if we stick with it, I think we can actually kind of save this thing. So I don't know what that's going to mean for the dollar ultimately, or if we end up going to something else, but right now, to your point, the dollar is definitely the big dog still, but I think it's probably even more under attack today than it's ever been, and so it's just something I think every Main Street investor needs to pay attention to.    Keith Weinhold  12:46   And it was really that 1913 creation of the Fed, where the Fed's mandates really didn't begin to take effect until 1914 that accelerated this slide in the dollar. Prior to that, it was really just periods of war, like, for example, the Civil War, where we had inflation rise, but then after wars abated, the dollar's strength returned, but that ceased to happen last century.   Russell Gray  13:11   I think there's a much bigger story there. So when we founded the country, we established legal money in the Coinage Act of 1792 we got gold and silver and a specific unit of measure of gold, a specific unit, measure of silver was $1 and that's what money was constitutionally. Alexander Hamilton advocated for the first central bank and got it, but it was issued by Charter, which meant that it was operated by the permission of the Congress. It wasn't institutionalized. It wasn't embedded in the Constitution. It was just something that was granted, like a license. You have a charter to be able to run a bank. When that initial charter came up for renewal, Congress goes, now we're not going to renew it. Well, of course, that made the bankers really upset, because bankers have a pretty good gig, right? They get to just loan people money. They don't have to do any real work, and then they make money on just kind of arbitraging, you know, other people's money. Savers put their money in, and they borrowed the money out, and then they with fractional reserve, they're able to magnify that. So it's, it's kind of a cool gig. And so what happened? Then he had the first central bank, so then they got the second central bank, and the second central bank was also issued by charter this time when it came up for renewal, Congress goes, Yeah, let's renew it, right? Because the bankers knew we got to go buy a few congressmen if we want to keep this thing going. But President Andrew Jackson said, No, not going to happen. And it was a big battle. Is a famous quote of him just calling these bankers a brood of vipers. And I'm going to put you down. And God help me, I will, right? I mean, it was like intense fact, I do believe he got shot at one point. I think he died from lead poisoning, because he never got the bullet out. So, you know, when you go to up against the bankers, it's not pretty, but he succeeded. He was the last president that paid off all the debt, balanced budget, paid off all the debt, and we got kind of back on sound money. Well, then a little while later, said, Okay, we're going to need, like, something major, and this would. I should put on. I got my, this is my hat, right now, I'll kind of put it on. This is my, my tin foil hat. Okay? And so I put this on when I kind of go down the rabbit trail a little bit. No, I'm not saying this is what happened, but it wouldn't surprise me, right? Because I know that war is profitable, and so sometimes, you know, your comment was, hey, there's the bank, and then there was, you know, the war, or there's the war, then there's a bank, which comes first the chicken or the egg. I think there's an article where Henry Ford and Thomas Edison went to Congress. I think it was December. The article was published New York Tribune, December 4. I think 1921 you can look it up, New York Tribune, front page article   Keith Weinhold  15:38   fo those of you in the audio only. Russ started donning a tin foil looking hat here about one minute ago.    Russell Gray  15:45   I did, yeah, so I put it on. Just so fair warning. You know, I may go a little conspiratorial, but the reason I do that is I just, I think we've seen enough, just in current, modern history and politics, in the age of AI and software and freedom of speech and new media, there's a lot of weird stuff going on out there, but a lot of stuff that we thought was really weird a little while ago has turned out to be more true than we thought. When you look back in history, and you kind of read the official narrative and you wonder, you kind of read between the lines. You go, oh, maybe some stuff went on here. So anyway, the allegation that Ford made, smart guy, Thomas Edison, smart guy. And they go to Congress, and they go, Hey, we need to get the gold out of the banker's hands, because gold is money, and we need money not to revolve around gold, because the bankers control gold. They control the money, and they make profits, his words, not mine, by starting wars, because he was very upset about World War One, which happened. We got involved right after Fed gets formed in 1913 World War One starts in 1914 the United States sits off in the background and sells everybody, everything. It collects a bunch of gold, and then enters at the end and ends it all. And that big influx created the roaring 20s, as we all know, which ended big boom to big bust. And that cycle, which then a crisis that created, potentially a argument for why the government should have more control, right? So you kind of go down this path. So we ended up in 1865 with President Lincoln suppressing states rights and eventually creating an unconstitutional income tax and then creating an unconstitutional currency. That's what Abraham Lincoln did. And then on the back end of that, you know, it didn't end well for him, and I don't know why, but all I know is that we had a financial crisis in 1907 and the solution to that was the Aldrich plan, which was basically a monopoly on money. It's called a money trust. And Charles Lindbergh, SR was railing against it, as were many people at the time, going, No, this is terrible. So they renamed the Aldrich plan the Federal Reserve Act. And instead of going for a bank charter, they went for a constitutional amendment, and they got it in the 16th Amendment, and that's where we got the IRS. That's where we got the income tax, which was only supposed to be 7% only affect like the top one or 2% of earners, right? And that's where we got, you know, the Federal Reserve. That's where all that was born. Since that happened, to your point, the dollar has been on with a slight little rise up in the 20s, which, you know, there's a whole thing about whether that caused the crash or not. But at the end of the day, if you go look at St Louis Fed, which you go look at all the time, and you just look at the long term trend of the dollar, it's terrible. And the barometer, that's gold, right? $20 of gold in 1913 and 1933 and then 42 in 1971 or two, whatever it was, three, and then eventually as high as 850 but at the turn of the century, this century, it was $250 so at $2,500 it would have lost 90% in the 21st Century. The dollars lost 90% in the 21st Century, just to 2500 that's profound to go. That's right, it already lost more than 90% from $20 to 250 so it lost 90% and then 90% of the 10% that was left. And that's where we're at. We're worse than that. Today, no currency, as far as I understand, I've been told this. Haven't done the homework, but it's my understanding, no currency in the history of the world has ever survived that kind of debasement. So I think a lot of people who are watching are like, okay, it's not a matter of if, it's a matter of when. And then the big question is, is when that when comes? What does the transition look like? What rises in its place? And then you look at things like a central bank digital currency, which is not like Bitcoin, it's not a crypto, it's a centrally controlled currency run by the central bank. If we get that, I would argue that's not good for privacy and security. Could be Bitcoin would be better. I would argue, could go back to gold backing, which I would say is better than what we have, or we could get something nobody's even thought of. I don't know. We don't know, but I do think we're at the end of the life cycle. Historically, all things being equal. And I think all the indication with a big run up of gold, gold is screaming something's broken. It's just screaming it right now, not just because the price is up, but who's buying it. It's just central banks.   Keith Weinhold  20:12   Central banks are doing most of the buying, right? It's not individual investors going to a coin shop. So that's really screaming, telling you that people are concerned. People are losing their faith in giving loans to the United States for sure. And Russ, as we talk about gold, and it's important link to the dollar over time, you mentioned how they wanted it, to get it out of the bank's hands for a while. Of course, there was also a period of time where it was illegal for Americans to own gold. And then we had this Bretton Woods Agreement, which was really important as well, where we ended up violating promises that had to do with gold again. So can you speak to us some more about that? Because a lot of people just don't understand what happened at Bretton Woods.   Russell Gray  20:56   What happened is we had the big crash in 1929 and the net result of that was, in 1933 we got executive order 6102 In fact, I have a picture of it framed, and that was in the wake of that in 1933 and so what Franklin Delano Roosevelt did in signing that document, which was empowered by a previous act of Congress, basically let him confiscate all The money. It'd be like right now if, right now, you know, President Trump signed an executive order and said, You have to take all your cash, every all the cash that you have out of your wallet. You have to send it all, take it into the bank, and they're going to give you a Chuck E Cheese token, right? And if you don't do it, if you do it, it's a $500,000 fine in 10 years in prison. Right? Back then it was a $10,000 fine, which was twice the price of the average Home huge fine, plus jail time. That's how severe it was, okay? So they confiscated all the money. That happened in 33 okay? Now we go off to war, and we enter the war late again. And so we have the big manufacturing operation. We're selling munitions and all kinds of supplies to everybody, all over the world, right? And we're just raking the gold and 20,000 tons of gold. We got all the gold. We got the biggest army now, we got the biggest bomb, we got the biggest economy. We got the strongest balance sheet. Well, I mean, you know, we went into debt for the war, but, I mean, we had a lot of gold. So now everybody else is decimated. We're the big dog. Everybody knows we're the big dog. Nine states shows up in New Hampshire Bretton Woods, and they have this big meeting with the world, and they say, Hey guys, new sheriff in town. Britain used to be the world's reserve currency, but today we're going to be the world's reserve currency. And so this was the new setup. But it's okay. It's okay because our dollar is as good as gold. It's backed by gold, and so anytime you want foreign nations, you can just bring your dollars to us and we'll give you the gold, no problem. And everyone's like, okay, great. What are you going to say? Right? You got the big bomb, you got the big army. Everybody needs you for everything to live like you're not going to say no. So they said, Yes, of course, the United States immediately. I've got a speech that a guy named Beardsley Rummel did. Have you ever heard me talk about this before? Keith, No, I've never heard about this. So Beardsley Rummel was the New York Fed chair when all this was happening. And so he gave a speech to the American Bar Association in 1945 and I got a transcript of it, a PDF transcript of it from 1946 and basically he goes, Look, income taxes are obsolete. We don't need income tax anymore because we can print money, because we're off the gold standard and we have no accountability. We just admitted it, just totally admitted it, and said the only reason we have income tax is to manipulate behavior, is to redistribute wealth, is to force people to do what we want them to do, punish things and reward others, right? Just set it plain language. I have a transcript of the speech. You can get a copy of you send an email to Rummel R U, M, L@mainstreetcapitalist.com I'll get it to you. So it's really, really interesting. So he admitted it. So we went along in the 40s and the 50s, and, you know, we had the only big manufacturing you know, because everybody else is still recovering from the war. Everything been bombed to smithereens, and we're spending money and doing all kinds of stuff. And having the 50s, it was great, right, right up until the mid 60s. So the mid 60s, it's like, Okay, we got a problem. And Charles de Gaulle, who was the president of France at the time, went to a meeting. And there's a YouTube video, but you can see it, he basically told the world, hey, I don't think the United States is doing a good job managing this world's reserve currency. I don't think they've got the gold. I think they printed too much money. I think that we should start to go redeem our dollars and get the gold. That was pretty forward thinking. And he created a run on the bank. And at the same time, we passed the Coinage Act in 1965 and took all the silver out of the people's money. So we took the gold in 33 and then we took the silver in 65 right? Because we got Vietnam and the Great Society, welfare, all these things were going on in the 60s. We're just going broke. Meanwhile, our gold supply went from 20,000 tons down to eight and Richard. Nixon is like, whoa, time out. Like, this is bad. And so we had inflation in 1970 August 15, 1971 year before August 15, 1971 1970 Nixon writes an executive order and freezes all prices and all wages. It became illegal by presidential edict for a private business to give their employee a raise or to raise their prices to the customers.    Keith Weinhold  25:30   It's almost if that could happen price in theUnited States of America, right?    Russell Gray  25:36   And inflation was 4.4% and it was a national emergency like today. I mean, you know, a few years ago, like three or four years ago, we if we could get it down 4.4% it'd be Holly. I'd be like a celebration. That was bad. And so that's what happened. So a year later, that didn't work. It was a 90 day thing. It was a disaster. And so in a year later, August 15, 1971 Nixon came on live TV after Gunsmoke. I think it was, and I was old enough I'm watching TV on a Sunday night I watched it. Wow. So I live, that's how old I am. So it's a lot of this history, not the Bretton Woods stuff, but from like 1960 2,3,4, forward. I remember I was there.    Keith Weinhold  26:13   Yeah, that you remember the whole Nixon address on television. We should say it for the listener that doesn't know. Basically the announcement Nixon made, he said, was a temporary measure, is that foreign nations can no longer redeem their dollars for gold. He broke the promise that was made at Bretton Woods in about 1945   Russell Gray  26:32   Yeah. And then gold went from $42 up to 850 and a whole series of events that have led to where we're at today were put in place to cover up the fact that the dollar was failing. We had climate emergency. We were headed towards the next global Ice Age. We had an existential threat in two different diseases that hit one right after the other. First one was the h1 n1 flu, swine flu, and then the next thing was AIDS. And so we had existential pandemic, two of them. We also had a oil shortage crisis. We were going to run out of fossil fuel by the year 2000 we had to do all kinds of very public, visible, visceral things that we would all see. You could only buy gas odd even days, like, if your license plate ended in an odd number, you could go on these days, and if it ended on an even number, you could go on the other days. And so we had that. We lowered our national speed limit down to 55 miles an hour. We created the EPA and all these different agencies under Jimmy Carter to try to regulate and manage all of this crisis. Prior to that, Nixon sent Kissinger over to China, and we opened up trade relations. And we'd been in Vietnam to protect the world from communism because it was so horrible. And then in the wake of that, we go over to Communist China, Chairman Mao and open up trade relations. Why we needed access to their cheap labor to suck up all the inflation. And we went over to the Saudis, and we cut the petro dollar deal. Why? Because we needed the float. We needed some place for all these excess dollars that we had created to get sucked up. And so they got sucked up in trading the largest commodity in the world, energy. And the deal was, hey, Saudis, here's the deal. You like your kingdom? Well, we got the big bomb. We got the big army. You're going to rule the roost in the in the Middle East, and we'll protect you. All you got to do is make sure you sell all your oil in dollars and dollars only. And they're like, Well, what if we're selling oil to China, or what if we're selling oil to Japan? Can they pay in yen? Nope, they got to sell yen. Buy dollars. Well, what do we do with all these dollars? Buy our treasuries. Okay, so what if I got this? Yeah, and so that was the petrodollar system. And the world looked at everything went on, and the world is like, Hmm, the United States coming back to Europe, and Charles de Gaulle, they're like, the United States is not handling this whole dollar thing real well. We need an alternative. What if all of us independent nations in Europe got together and created a common currency? We don't want to be like one country, like the United States, but we want to be like an economic union. So let's create a current let's call it the euro. And they started that process in the 70s, but they didn't get it done till 99 and so they get it done in 99 as soon as they get it done, this guy named Saddam Hussein goes, Hey, I'm now the big dog here. I got the fourth largest army in the world. I'm here in, you know, big oil producing nation. Let's trade in the euro. Let's get off the dollar. Let's do oil in the euro. And he's gone. I'm not sure I should put my hat back on. I'm not sure, but somehow we went into Afghanistan and took a hard left and took this guy out.   Keith Weinhold  29:44   Some credence to this. Yes, yeah, so. But with that said,   Russell Gray  29:47   you know, we ended up with the Euro taking about 20% of the global trade market from the United States, which is about where it sits today. And the United States used to be up over 80% and now we're down below 60% still. The Big Dog by triple and the euro is not in a position to supplant the US, but I think China, whose claim to fame is looking at other people's technology and models and copying it, looked at what the United States did to become the dominant economic force, and I think they've systematically been copying it. I wrote a report on this way back in 2013 when I started really paying attention to it and began to chronicle all the things that they were doing, this big D dollarization movement that I think still has legs. It's the BRICS movement. It's all the central banks buying gold. It's the bilateral trade agreements where people are doing business outside the dollar. There's been not just that, but also putting together the infrastructure, right? The Asian Infrastructure Bank is an alternative to the IMF looking, if you have you read Confessions of an economic hitman. No. Okay, so this is a guy that used to work in the government, I think, CIA or something, and he would go down and he'd cut deals with leaders of countries to get them to borrow from the United States to put in key infrastructure so they could trade with the US. And then, of course, if they defaulted, then the US owned that in the infrastructure. You can look it up. His name is Perkins, right. Look it up confessions of economic hit now, but you see China doing the same thing. China's got their Belt and Road Initiative. And you go through, and if you want to trade with China on that route, you have traded, you're gonna have to have infrastructure. You can eat ports. You're gonna need terminals for distribution. But you, Oh, you don't have the money. We'll loan it to you, and we'll loan it to you and you want. Now we're creating demand for you want, and we also are enslaving borrower servant to the lender. We're beginning to enslave these other nations under the guise of helping them by financing their growth so they can do business with us. It's the same thing the United States did and Shanghai Gold Exchange, as opposed to the London Bullion exchange. So all of the key pieces of infrastructure that were put in place to facilitate Western hegemony in the financial markets the Chinese have been systematically putting in place with bricks, and so there's a reason we're in this big trade war right now. We recognize that they had started to get in a position where they were actually a real threat, and we got to cut their legs out from underneath them before they get any stronger. Again, I should put my hat back on. Nobody's calling me up and telling me, I'm just reading between the lines. Sure,   Keith Weinhold  32:23   there certainly are more competitors to the dollar now. And can you imagine what rate of inflation that we would have had if we had not outsourced our labor and productivity over to a low wage place like China in the east? Russ and I have been talking about the long term debasement of the dollar and why. More on that when we come back, including what Russ is up to today. You're listening to get rich education. Our guest is Russell Gray. I'm your host, Keith Weinhold, the same place where I get my own mortgage loans is where you can get yours. Ridge lending group and MLS, 42056, they provided our listeners with more loans than anyone because they specialize in income properties. They help you build a long term plan for growing your real estate empire with leverage. Start your pre qual and even chat with President Chaley Ridge personally while it's on your mind, start at Ridge lendinggroup.com that's Ridge lendinggroup.com. You know what's crazy? Your bank is getting rich off of you. The average savings account pays less than 1% it's like laughable. Meanwhile, if your money isn't making at least 4% you're losing to inflation. That's why I started putting my own money into the FFI liquidity fund. It's super simple. Your cash can pull in up to 8% returns, and it compounds. It's not some high risk gamble like digital or AI stock trading. It's pretty low risk because they've got a 10 plus year track record of paying investors on time, in full every time. I mean, I wouldn't be talking about it if I wasn't invested myself. You can invest as little as 25k and you keep earning until you decide you want your money back. No weird lockups or anything like that. So if you're like me and tired of your liquid funds just sitting there doing nothing. Check it out. Text family, 266, 866, to learn about freedom family investments, liquidity fund again. Text family, 266, 866,   Garrett Sutton  34:36   hi. This is Rich Dad advisor, Garrett Sutton. You're listening to the always valuable. Get rich education with Keith Weinhold, don't quit your Daydream.    Keith Weinhold  34:52   Welcome back to get rich education. We're talking with the main street capitalists Russell gray about this long term debasement of the dollar. It's an. Inevitable. It's one of the things we actually can forecast with pretty good predictability that the dollar will continue to debase. It's one of the few almost guarantees that we have in investing. So we can think about how we want to play that Russ one thing I wonder about is, did we have to completely de peg the dollar from gold? Couldn't we have just diluted it where we could instead say, Well, hey, now, instead of just completely depegging the dollar from gold, we could say, well, now it takes 10 times as many dollars as it used to to redeem it for an ounce of gold. Did it make it more powerful that we just completely de pegged it 100%   Russell Gray  35:36   it would disempower the monopoly. Right? In other words, I think that the thing from the very beginning, was scripted to disconnect from the accountability of gold, which is what sound money advocates want. They want some form of independent Accountability. Gold is like an audit to a financial system. If you're the bankers and you're running the program, the last thing in the world you want is a gold standard, because it limits your ability to print money out of thin air and profit from that. So I don't think the people who are behind all of this are, in no way, shape or form, interested in doing anything that's going to limit their power or hold them accountable. They want just the opposite. I think if they could wave a magic wand and pick their solution to the problem, it would be central bank digital currency, which would give them ultimate control. Yeah. And it wouldn't surprise me if we maybe, perhaps, were on a path where some crises were going to converge, whether it's opportunistic, meaning that the crisis happened on its own, and quote Rahm Emanuel and whoever he was quoting, you know, never let a good crisis go to waste, and you're just opportunistic, or, you know, put the conspiracy theory hat on, and maybe these crises get created in order to facilitate the power grab. I don't know. It really doesn't matter what the motives are or how it happens at the end of the day, it's what happens. It happened in 33 it happened in 60. In 71 it's what happens. And so it's been a systematic de pegging of any form of accountability. I mean, we used to have a budget ceiling. We used to talk about now it's just like, it's routine. You blow right through it, right, right. There's you balance. I mean, when's the last time you even had a budget? Less, less, you know, much less anything that looked like a valid balanced budget amendment. So I think there's just no accountability other than the voting booth. And, you know, I think maybe you could make the argument that whether you like Trump or not, the public's apparent embrace of him, show you that the main street and have a lot of faith in Main Street. I think Main Street is like, you know what? This is broken. I don't know what's how to fix it, but somebody just needs to go in and just tear this thing down and figure out a new plant. Because I think if you anybody paying attention, knows that this perpetual debasement, which is kind of the theme of the show is it creates haves and have nots. Guys like you who understand how to use real estate to short the dollar, especially when you marry it to gold, which is one of my favorite strategies to double short the dollar, can really magnify the power of inflation to pull more wealth onto your balance sheet. Problem is the people who aren't on that side of the coin are on the other side of the coin, and so the poor get poorer and the rich get richer. Well, the first order of business in a system we can't control is help as many people be on the rich get richer. That's why we had the get rich show, right? Let's help other people get rich. Because if I'm the only rich guy in the room, all the guns are pointed at me, right? I wanted everybody as rich as possible. I think Trump and Kiyosaki wrote about that in their book. Why we want you to be rich, right? When everybody's prospering, it's it's better, it's safer, you have people to trade with and whatnot, but we have eviscerated the middle class because industry has had to go access cheap labor markets in order to compensate for this inflation. And you know, you talk about the Fed mandate, which is 2% inflation, price inflation, 2% so if you say something that costs $1 today, a year from now, is going to cost $1 too, you think, well, maybe that's not that bad. But here's the problem, the natural progression of Business and Technology is to lower the cost, right? So you have something cost $1 today, and because somebody's using AI and internet and automation and robots and all this technology, right? And the cost, they could really sell it for 80 cents. And so the Fed looks at and goes, Let's inflate to $1.02 that's not two cents of inflation. That's 22 cents of inflation. And so there's hidden inflation. The benefits of the gains in productivity don't show up in the CPI, but it's like deferred maintenance on an apartment building. You can make your cash flow look great if you're not setting anything aside for the inevitable day when that roof is going to go out and that parking lot is going to need to be repaved, right? And you don't know how far out you are until you get there and you're like, wow, I'm really short, and I think that we have been experiencing for decades. The theft of the benefit of our productivity gains, and we're not just a little bit out of position. We're way out of position. That's   Keith Weinhold  40:07   a great point. Like I had said earlier, imagine what the rate of inflation would be if we hadn't outsourced so much of our labor and productivity to low cost China. And then imagine what the rate of inflation would be as well, if you would factor in all of this increased productivity and efficiency, the natural tendencies of which are to make prices go lower as society gets more productive, but instead they've gone higher. So when you adjust for some of these factors, you just can't imagine what the true debased purchasing power of the dollar is. It's been happening for a long time. It's inevitable that it's going to continue to happen in the future. So this has been a great chat about the history and us understanding what the powers that be have done to debase our dollar. It's only at what rate we don't know. Russ, tell us more about what you're doing today. You're really out there more as a champion for Main Street in capitalism.   Russell Gray  41:04   I mean, 20 years with Robert and the real estate guys, and it was fantastic. I loved it. I went through a lot, obviously, in 2008 and that changed me a little bit. Took me from kind of being a blocking and tackling, here's how you do real estate, and to really understanding macro and going, you know, it doesn't matter. You can do like I did, and you build this big collection. Big collection of properties and you lose it all in a moment because you don't understand macro. So I said, Okay, I want to champion that cause. And so we did that. And then we saw in the 2012 JOBS Act, the opportunity for capital raisers to go mainstream and advertise for credit investors. And I wrote a report then called the new law breaks Wall Street monopoly. And I felt like that was going to be a huge opportunity, and we pioneered that. But then after my late wife died, and I had a chance to spend some time alone during COVID, and I thought, life is short. What do I really want to accomplish before I go? And then I began looking at what was going on in the world. I see now a couple of things that are both opportunities and challenges or causes to be championed. And one is the mega trend that I believe the world is going you know, some people call it a fourth turning whatever. I don't consider that kind of we have to fall off a cliff as Destiny type of thing to be like cast in stone. But what I do see is that people are sick and tired of monopolies. We're sick and tired of big tech, we're sick and tired of big media, we're sick and tired of big government. We're sick and tired of big corporations, we don't want it, and big banks, right? So you got the rise of Bitcoin, you got people trying to get out from underneath the Western hegemony, as we've been talking about decentralization of everything. Our country was founded on the concept of decentralization, and so people don't understand that, right? It used to be everything was centralized. All powers in the king. Real Estate meant royal property. That's what real estate it's not like real asset, like tangible it's royal estate. It's royal property. Everything belonged to the king, and you just got to work it like a serf. And then you got to keep 75% in your produce, and you sent 25% you sent 25% through all the landlords, the land barons, and all the people in the hierarchy that fed on running things for the king, but you didn't own anything. Our founder set that on, turn that upside down, and said, No, no, no, no, no, it's not the king that's sovereign. It's the individual. The individual is sovereign. It isn't the monarchy, it's the individual states. And so we're going to bring the government, small. The central government small has only got a couple of obligations, like protect the borders, facilitate interstate commerce, and let's just have one common currency so that we can do business together. Other than that, like, the state's just going to run the show. Of course, Lincoln kind of blew that up, and it's gotten a lot worse after FDR, so I feel like we're under this big decentralization movement, and I think Main Street capitalism is the manifestation of that. If you want to decentralize capitalism, the gig economy, if you want to be a guy like you, and you can run your whole business off your laptop with a microphone and a camera, you know, in today's day and age with technology, people have tasted the freedom of decentralization. So I think the rise of the entrepreneur, I think the ability to go build a real asset portfolio and get out of the casinos of Wall Street. I think right now, if we are successful in bringing back these huge amounts of investment, Trump's already announced like two and a half or $3 trillion of investment, people are complaining, oh, the world is selling us. Well, they're selling stocks and they're selling but they're putting the money actually into creating businesses here in the United States that's going to create that primary driver, as you well know, in real estate, that's going to create the secondary and tertiary businesses, and the properties they're going to use all kinds of Main Street opportunity are going to grow around that. I lived in Silicon Valley, when a company would get funded, it wasn't just a company that prospered, it was everything around that company, right? All these companies. I remember when Apple started. I remember when Hewlett Packard, it was big, but it got a lot bigger, right there. I watched all that happen in Silicon Valley. I think that's going to happen again. I think we're at the front end of that. And so that's super exciting. Wave. The second thing that is super important is this raising capitalist project. And the reason I'm doing it is because if we don't train our next generation in the principles of capitalism and the freedom that it how it decentralizes Their personal economy, and they get excited about Bitcoin, but that's not productive. I'm not putting it down. I'm just saying it's not productive. You have to be productive. You want to have a decentralized currency. Yes, you want to decentralize productivity. That's Main Street capitalism. If kids who never get a chance to be in the productive economy get to vote at 1819, 2021, 22 before they've ever earned a paycheck, before they have any idea, never run a business. Somebody tells them, hey, those guys that have all that money and property, they cheated. It's not fair. We need to take from them. We need to limit them, not thinking, Oh, well, if I do that, when I get to be there, that what I'm voting for is going to get on me. Right now, Keith, there are kids in ninth grade who are going to vote for your next president, right?   Keith Weinhold  45:56   And they think capitalism is evil. This is part of what you're doing with the raising capitalists project, helping younger people think differently. Russ, I have one last thing to ask you. This has to do with the capitalism that you're championing on your platforms now. And real estate, I continue to see sometimes I get comments on my YouTube channel, especially maybe it's more and more people increasingly saying, Hey, I think housing should be a human right. So talk to us about that. And maybe it's interesting, Russ, if I take the other side of it and play devil's advocate, people who think housing is a human right, they say something like, the idea is that housing, you know, it's a fundamental need, just like food and clean water and health care are without stable housing. It's incredibly hard for a person to access opportunities like work and education or health care or participate meaningfully in society at all. So government ought to provide housing for everybody. What are your thoughts there?   Russell Gray  46:54   Well, it's inherently inflationary, which is the root cause of the entire problem. So anytime you create consumption without production, you're going to have more consumers than producers, and so you're going to have more competition for those goods. The net, net truth of what happens in that scenario are shortages everywhere. Every civilization that's ever tried any form of system where people just get things for free because they need them, end up with shortages in poverty. It doesn't lift everybody. It ruins everything. I mean, that's not conjecture. That's history, and so that's just the way it works. And if you just were to land somebody on a desert island and you had an economy of one, they're going to learn really quick the basic principles of capitalism, which is production always precedes consumption, always 100% of the time, right? If you're there on that desert island and you don't hunt fish or gather, you don't eat, right? You don't get it because, oh, it's a human right to have food. Nope, it's a human right to have the right to go get food. Otherwise, you're incarcerated, you have to have the freedom of movement to go do something to provide for yourself, but you cannot allow people to consume without production. So everybody has to produce. And you know, if you go back to the Plymouth Rock experiment, if you're familiar with that at all, yeah, yeah. So you know, just for anybody who doesn't know, when the Pilgrims came over here in the 1600s William Bradford was governor, and they tried it. They said, Hey, we're here. Let's Stick Together All for one and one for all. Here's the land. Everybody get up every day and work. Everybody works, and everybody eats. They starved. And so he goes, Okay, guys, new plan. All right, you wine holds. See this little plot of land, that's yours. You work it. You can eat whatever you produce. Over there, you grace. You're going to do yours and Johnson's, you're going to do yours, right? Well, what happened is now everybody got up and worked, and they created more than enough for their own family, and they had an abundance. And the abundance was created out of their hunger. When they went to serve their own needs, they created abundance forever others. That's the premise of capitalism. It's not the perfect system. There is no perfect system. We live in a world where human beings have to work before they get to eat. When I say eat, it could be having a roof over their head. It could be having clothes. It could be going on vacation. It could be having a nice car. It could be getting health care. It doesn't matter what it is, whatever it is you need. You have the right, or should have, the right, in a free system to go earn that by being productive, but the minute somebody comes and says, Oh, you worked, and I'm going to take what you produced and give it to somebody else who didn't, that's patently unfair, but economically, it's disastrous, because it incentivizes people not to work, which creates less production, more consumption. I have another analogy with sandwich makers, but you can imagine that if you got a group if you got a group of people making sandwiches, one guy starts creating coupons for sandwiches. Well then if somebody says, Okay, well now we got 19 people providing for 20. That's okay, but then all the guys making sandwiches. Why making sandwiches? I'm gonna get the coupon business pretty soon. You got 18 guys doing coupons, only two making sandwiches. Not. Have sandwiches to go around all the sandwiches cost tons of coupons because we got way more financialization than productivity, right? That's the American economy. We have to fix that. We can't have people making money by just trading on other people's productivity. We have to have people actually being productive. This is what I believe the administration is trying to do, rebuild the middle class, rebuild that manufacturing base, make us a truly productive economy, and then you don't have to worry about these things, right? We're going to create abundance. And if you don't have the inflation is which is coming from printing money out of thin air and giving to people who don't produce, then housing, all sudden, becomes affordable. It's not a problem. Health care becomes affordable. Everything becomes affordable because you create abundance, because everybody's producing the system is fundamentally broken. Now we have to learn how to profit in it in its current state, which is what you teach people how to do. We also have to realize that it's not sustainable. We're on an unsustainable path, and we're probably nearing that event horizon, the path of no return, where the system is going to break. And the question is, is, how are you going to be prepared for it when it happens? Number two, are you going to be wise enough to advocate when you get a chance to cast a vote or make your voice heard for something that's actually going to create prosperity and freedom versus something that's going to create scarcity and oppression? And that's the fundamental thing that we have to master as a society. We got to get to our youth, because they're the biggest demographic that can blow the thing up, and they're the ones that have been being indoctrinated the worst.   Keith Weinhold  51:29   Yes, Fed Chair Jerome Powell himself said that we live in a economic system today that is unsustainable. Yes, the collectivism we touched on quickly descends into the tyranny of the majority. And in my experience, historically, the success of public housing projects has been or to mixed at best, residents often don't respect the property when they don't have an equity stake in it or even a security deposit tied up in it, and blight and high crime rates have often followed with these public housing projects. When you go down that path of making housing as a human right, like you said earlier, you have a right to go procure housing for yourself, just not to ask others to pay for it for you. Well, Russ, this has been great. It's good to have your voice back on the show. Here again, here on a real estate show. If people want to connect with you, continue to see what you've been up to and the good projects that you're working on, promoting the virtues of capitalism. What's the best way for them to do that?   Russell Gray  52:31   I think just send an email to follow at Russell Gray, R, U, S, S, E, L, L, G, R, A, y.com, let you know where I am on social media. I'll let you know when I put out new content. I'll let you know when I'm a guest on somebody somebody's show and I'm on the cusp of getting my own show finally launched. I've been doing a lot of planning to get that out, but I'm excited about it because I do think, like I said, The time is now, and I think the marketplace is ripe, and I do speak Main Street and macro, and I hope I can add a nuance to the conversation that will add value to people.   Keith Weinhold  53:00   Russ, it's been valuable as always. Thanks so much for coming back onto the show. Thanks, Keith.   Yeah, terrific, historic outline from Russ about the long term decline of the dollar. It's really a fresh reminder and motivator to keep being that savvy borrower. Of course, real estate investors have access to borrow giant sums of dollars and short the currency that lay people do not. In fact, lay people don't even understand that it's a viable strategy at all. Like he touched on, Russ has really been bringing an awareness about how decentralization is such a powerful force that reshapes society. In fact, he was talking about that the last time that I saw him in person a few months ago. Notably, he touched on Nixon era wage and price controls. Don't you find it interesting? Fascinating, really, how a few weeks ago, Trump told Walmart not to pass tariff induced price increases onto their customers. Well, that's a form of price control that we're seeing today to our point, when we had the father of Reaganomics, David Stockman here on the show, five weeks ago, tariffs are already government intervention into the free market, and then a president telling private companies how to set their prices, that is really strong government overreach. I mean, I can't believe that more people aren't talking about this. Maybe that's just because this cycle started with Walmart, and that's just doesn't happen to be a company that people feel sorry for. Hey, well, I look forward to meeting you in person in Miami in just four days, as I'll be a faculty member for when we kick off the terrific real estate guys Investor Summit and see and really getting to know you, because we're going to spend nine days together. Teaching, learning and having a great time on a cruise ship in the Caribbean. Until then, I'm your host. Keith Weinhold, don't quit your Daydream.   Speaker 3  55:13   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  55:36   You know whatever you want, the best written real estate and finance info. Oh, geez, today's experience limits your free articles access and it's got pay walls and pop ups and push notifications and cookies disclaimers. It's not so great. So then it's vital to place nice, clean, free content into your hands that adds no hype value to your life. That's why this is the golden age of quality newsletters, and I write every word of ours myself. It's got a dash of humor, and it's to the point because even the word abbreviation is too long, my letter usually takes less than three minutes to read. And when you start the letter, you also get my one hour fast real estate video. Course, it's all completely free. It's called the Don't quit your Daydream letter. It wires your mind for wealth, and it couldn't be easier for you to get it right now. Just text. GRE to 66866, while it's on your mind, take a moment to do it right now. Text, GRE to 66866   The preceding program was brought to you by your home for wealth, building, getricheducation.com.

In this week's MBA Admissions podcast we began by discussing some of the recent activity on LiveWire, which includes some movements on wait lists. We then continued our discussion on the recent U.S. Government decisions as they pertain to international MBA students, and the consequences for U.S. citizens who remain on the summer waitlists. Graham then noted a deep dive article, published last week by Clear Admit, that summarizes the sequence of events that has led to where we are with international students seeking an MBA in the United States. Graham highlighted Clear Admit's new summer series of webinars, which focuses on top MBA programs' admissions essays, which will be attended by more than 20 of the top MBA programs. Signups are here: https://bit.ly/mbaessay0725 Graham then noted a new article, posted on Clear Admit, regarding a Stanford podcast episode which covers recent research that uses AI to investigate the source of innovation, investigating whether innovation generally comes from the center of a firm, or from its fringes. It appears to be the latter.  Graham also highlighted an admissions tip that offers advice on evaluating campus facilities, atmosphere, and location at the top MBA programs. We have also begun our new series of Adcom Q&As, which is a yearly series where we interview the admissions leaders at all the top MBA programs; the first in this series is from Stephanie Kluth at ESMT Berlin. Finally, Graham highlighted two Real Humans alumni spotlights, alums from Ohio State / Fisher working at Uber Freight, and Washington / Olin working at Google. For this week, for the candidate profile review portion of the show, Alex selected two ApplyWire entries and one DecisionWire entry: This week's first MBA admissions candidate is a Canadian citizen, originally from South Asia. They have an engineering degree and have eight years of work experience, for the government. They have a GRE score of 337. This week's second MBA candidate has a 3.8 GPA, 327 GRE, and nearly five years of work experience. We think they might want to aim a little higher with their target programs. The final MBA candidate is deciding between Chicago / Booth and UVA / Darden with a scholarship. This episode was recorded in Paris, France and Cornwall, England. It was produced and engineered by the fabulous Dennis Crowley in Philadelphia, USA. Thanks to all of you who've been joining us and please remember to rate and review this show wherever you listen!

The general attitude toward unmarried men is that they are selfish, short-sighted, man-children who forgo real growth and fulfillment in favor of satisfying their own desires. As a consequence, the irresponsible man should submit to social institutions – like marriage – that correct their baser natures. In this episode, I offer my best counterargument to the case against unmarried men and expose the flaws in this reasoning. Join my community: https://the-captains-quarters.mn.co Buy my book, "The Value of Others" Ebook: https://amzn.to/460uGrA Audiobook: https://amzn.to/3YfFwbx Paperback: https://amzn.to/3xQuIFK Book a paid consultation: https://oriontarabanpsyd.com/consultations Subscribe to my newsletter: https://oriontarabanpsyd.com Social Media TikTok: https://www.tiktok.com/@oriontaraban Facebook: https://facebook.com/profile.php?id=100090053889622 LinkedIn: https://www.linkedin.com/in/orion-taraban-070b45168/ Instagram: https://instagram.com/psyc.hacks Twitter: https://twitter.com/oriontaraban Website: https://oriontarabanpsyd.com Orion's Theme: https://www.youtube.com/watch?v=WrXBzQ2HDEQ Thinking of going to grad school? Check out STELLAR, my top-rated GRE self-study program based on the world's only empirically-validated test prep system. Use the code "PSYCH" for 10% off all membership plans: https://stellargre.com. Become a Stellar affiliate and earn a 10% commission for every membership purchased by a new student you conduct into the program: https://stellargre.tapfiliate.com. GRE Bites: https://www.youtube.com/@grebites4993 Become a Psychonaut and join PsycHack's member community: https://www.youtube.com/channel/UCSduXBjCHkLoo_y9ss2xzXw/join Sound mixing/editing by: valntinomusic.com Presented by Orion Taraban, Psy.D. PsycHacks provides viewers with a brief, thought-provoking video several days a week on a variety of psychological topics, inspired by his clinical practice. The intention is for the core idea contained within each video to inspire viewers to see something about themselves or their world in a slightly different light. The ultimate mission of the channel is to reduce the amount of unnecessary suffering in the world. #psychology #marriage #men

If you don't believe in yourself, it won't matter if everyone else in the world does. And if you do believe in yourself, it won't matter if everyone else in the world doesn't. In today's episode, I illustrate this principle using a particularly satisfying example from my own life. Along the way, I explain why women are mean to men who like them. If I did it, you can too. Join my community: https://the-captains-quarters.mn.co Buy my book, "The Value of Others" Ebook: https://amzn.to/460uGrA Audiobook: https://amzn.to/3YfFwbx Paperback: https://amzn.to/3xQuIFK Book a paid consultation: https://oriontarabanpsyd.com/consultations Subscribe to my newsletter: https://oriontarabanpsyd.com Social Media TikTok: https://www.tiktok.com/@oriontaraban Facebook: https://facebook.com/profile.php?id=100090053889622 LinkedIn: https://www.linkedin.com/in/orion-taraban-070b45168/ Instagram: https://instagram.com/psyc.hacks Twitter: https://twitter.com/oriontaraban Website: https://oriontarabanpsyd.com Orion's Theme: https://www.youtube.com/watch?v=WrXBzQ2HDEQ Thinking of going to grad school? Check out STELLAR, my top-rated GRE self-study program based on the world's only empirically-validated test prep system. Use the code "PSYCH" for 10% off all membership plans: https://stellargre.com. Become a Stellar affiliate and earn a 10% commission for every membership purchased by a new student you conduct into the program: https://stellargre.tapfiliate.com. GRE Bites: https://www.youtube.com/@grebites4993 Become a Psychonaut and join PsycHack's member community: https://www.youtube.com/channel/UCSduXBjCHkLoo_y9ss2xzXw/join Sound mixing/editing by: valntinomusic.com Presented by Orion Taraban, Psy.D. PsycHacks provides viewers with a brief, thought-provoking video several days a week on a variety of psychological topics, inspired by his clinical practice. The intention is for the core idea contained within each video to inspire viewers to see something about themselves or their world in a slightly different light. The ultimate mission of the channel is to reduce the amount of unnecessary suffering in the world. #psychology #women #success

Should you believe the recent doom and gloom articles about MBAs? Petia Whitmore is the founder of MyMBAPath, which she started after the was the Dean of Admissions at Babson College and managing director of TheMBATour. In this episode, Petia shares her thoughts on whether MBAs are still worth it, including career outcomes and job prospects in today's white collar recession, full time vs. hybrid vs. online programs, and how to use financial aid to improve your ROI. Achievable's GRE prep course uses AI-powered adaptive learning to target your weak areas and boost your score - visit https://achievable.me/exams/gre/overview/#s=podcast to try it for free.

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

Following up on my recent interview with Sadia Khan on Soft White Underbelly, I justify my belief that modern women are more delusional than men when it comes to dating and relationships. I discuss the narratives and attitudes that have contributed to the expectation that ordinary women can – and should – hold out for extraordinary men. In understanding female entitlement, both sexes can better avoid the trap presented by delusional women. Join my community: https://the-captains-quarters.mn.co Buy my book, "The Value of Others" Ebook: https://amzn.to/460uGrA Audiobook: https://amzn.to/3YfFwbx Paperback: https://amzn.to/3xQuIFK Book a paid consultation: https://oriontarabanpsyd.com/consultations Subscribe to my newsletter: https://oriontarabanpsyd.com Social Media TikTok: https://www.tiktok.com/@oriontaraban Facebook: https://facebook.com/profile.php?id=100090053889622 LinkedIn: https://www.linkedin.com/in/orion-taraban-070b45168/ Instagram: https://instagram.com/psyc.hacks Twitter: https://twitter.com/oriontaraban Website: https://oriontarabanpsyd.com Orion's Theme: https://www.youtube.com/watch?v=WrXBzQ2HDEQ Thinking of going to grad school? Check out STELLAR, my top-rated GRE self-study program based on the world's only empirically-validated test prep system. Use the code "PSYCH" for 10% off all membership plans: https://stellargre.com. Become a Stellar affiliate and earn a 10% commission for every membership purchased by a new student you conduct into the program: https://stellargre.tapfiliate.com. GRE Bites: https://www.youtube.com/@grebites4993 Become a Psychonaut and join PsycHack's member community: https://www.youtube.com/channel/UCSduXBjCHkLoo_y9ss2xzXw/join Sound mixing/editing by: valntinomusic.com Presented by Orion Taraban, Psy.D. PsycHacks provides viewers with a brief, thought-provoking video several days a week on a variety of psychological topics, inspired by his clinical practice. The intention is for the core idea contained within each video to inspire viewers to see something about themselves or their world in a slightly different light. The ultimate mission of the channel is to reduce the amount of unnecessary suffering in the world. #dating #women #psychology

If marriage transforms wild mustangs into plow horses, why do we find so many men in harness? The answer is that some men need marriage, and they need it in much the same way that some men need the Army. If men cannot construct internally extrapolated structures to serve as a framework for their lives, they will need to submit to externally imposed ones. However, just like the Army isn't the only way to be all that you can be, marriage isn't the only pathway to develop the virtues ascribed to it. Join my community: https://the-captains-quarters.mn.co Buy my book, "The Value of Others" Ebook: https://amzn.to/460uGrA Audiobook: https://amzn.to/3YfFwbx Paperback: https://amzn.to/3xQuIFK Book a paid consultation: https://oriontarabanpsyd.com/consultations Subscribe to my newsletter: https://oriontarabanpsyd.com Social Media TikTok: https://www.tiktok.com/@oriontaraban Facebook: https://facebook.com/profile.php?id=100090053889622 LinkedIn: https://www.linkedin.com/in/orion-taraban-070b45168/ Instagram: https://instagram.com/psyc.hacks Twitter: https://twitter.com/oriontaraban Website: https://oriontarabanpsyd.com Orion's Theme: https://www.youtube.com/watch?v=WrXBzQ2HDEQ Thinking of going to grad school? Check out STELLAR, my top-rated GRE self-study program based on the world's only empirically-validated test prep system. Use the code "PSYCH" for 10% off all membership plans: https://stellargre.com. Become a Stellar affiliate and earn a 10% commission for every membership purchased by a new student you conduct into the program: https://stellargre.tapfiliate.com. GRE Bites: https://www.youtube.com/@grebites4993 Become a Psychonaut and join PsycHack's member community: https://www.youtube.com/channel/UCSduXBjCHkLoo_y9ss2xzXw/join Sound mixing/editing by: valntinomusic.com Presented by Orion Taraban, Psy.D. PsycHacks provides viewers with a brief, thought-provoking video several days a week on a variety of psychological topics, inspired by his clinical practice. The intention is for the core idea contained within each video to inspire viewers to see something about themselves or their world in a slightly different light. The ultimate mission of the channel is to reduce the amount of unnecessary suffering in the world. #marriage #relationship #psychology

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

In this week's MBA Admissions podcast we began by discussing the recent events and activities in the news; specifically, we discussed the recent U.S. administration's decisions around visa interviews for international MBA students. These are, frankly, very disturbing times, which can seriously harm the MBA experience at for all candidates at top MBA programs in the United States. We are hoping that good sense will prevail, in the near future. Graham highlighted an admissions event he is helping to moderate in Paris this upcoming week, which includes ten of the top MBA programs from the United States. Signups are here: https://bit.ly/paristopmba Graham noted three articles that have been recently published on Clear Admit. The first focuses on the costs of applying to Business School, from application fees to test prep, campus visits, and beyond. The second focuses on which top MBA programs allow for test waivers of the GMAT and GRE. This list appears to grow each season. Graham then highlighted a report from Forte which Clear Admit covered, that illustrates significant gender pay gap differentials. Graham highlighted three Real Humans alumni spotlights, alums from UNC / Kenan Flagler working at their own business, Grantease, Rice / Jones working at McKinsey, and Emory / Goizueta working at Morgan Stanley. For this week, for the candidate profile review portion of the show, Alex selected two ApplyWire entries and one DecisionWire entry: This week's first MBA admissions candidate has a 675 GMAT and 3.5 GPA. They are from China, and we discussed whether they should apply in Round 1 or Round 2, and whether they should retake the GMAT. This week's second MBA candidate has outstanding numbers and is from Africa. We think they are likely to be a very strong candidate but need to work on their story and connect it to their goals. The final MBA candidate is deciding between Columbia and Yale, with a significant scholarship. This episode was recorded in Paris, France and Cornwall, England. It was produced and engineered by the fabulous Dennis Crowley in Philadelphia, USA. Thanks to all of you who've been joining us and please remember to rate and review this show wherever you listen!

Two-time Emmy and Three-time NAACP Image Award-winning, television Executive Producer Rushion McDonald interviewed Christopher Gray. CEO and co-founder of Path. Gray discusses how his AI-powered platform is transforming test preparation for professional certifications, IT, cybersecurity, healthcare, and college admission exams.

Two-time Emmy and Three-time NAACP Image Award-winning, television Executive Producer Rushion McDonald interviewed Christopher Gray. CEO and co-founder of Path. Gray discusses how his AI-powered platform is transforming test preparation for professional certifications, IT, cybersecurity, healthcare, and college admission exams.

Two-time Emmy and Three-time NAACP Image Award-winning, television Executive Producer Rushion McDonald interviewed Christopher Gray. CEO and co-founder of Path. Gray discusses how his AI-powered platform is transforming test preparation for professional certifications, IT, cybersecurity, healthcare, and college admission exams.

Discover powerful strategies to maximize your rental property returns and minimize costly vacancies. Learn how top investors are transforming their approach to property management, from tenant retention techniques to smart staffing solutions. Key Insights: Master the art of keeping great tenants and reducing turnover Understand when to scale your property management approach Explore innovative investment opportunities beyond traditional real estate Market Trends Spotlight: Rental demand is on the rise Emerging investment options offer unique wealth-building potential Strategic diversification is key to long-term financial success Explore alternative investment opportunities like sustainable teak forestry - a generational wealth strategy that offers: Low entry point Long-term growth potential International diversification Whether you're a seasoned investor or just starting out, these insights will help you make more informed, profitable real estate decisions. Resources: Learn more about the teak tree investment opportunity at Gremarketplace.com/teak Show Notes: GetRichEducation.com/555 For access to properties or free help with a GRE Investment Coach, start here: GREmarketplace.com GRE Free Investment Coaching: GREinvestmentcoach.com Get mortgage loans for investment property: RidgeLendingGroup.com or call 855-74-RIDGE  or e-mail: info@RidgeLendingGroup.com Invest with Freedom Family Investments.  You get paid first: Text FAMILY to 66866 Will you please leave a review for the show? I'd be grateful. Search “how to leave an Apple Podcasts review”  For advertising inquiries, visit: GetRichEducation.com/ad Best Financial Education: GetRichEducation.com Get our wealth-building newsletter free— text ‘GRE' to 66866 Our YouTube Channel: www.youtube.com/c/GetRichEducation Follow us on Instagram: @getricheducation Complete episode transcript:   Automatically Transcribed With Otter.ai    Keith Weinhold  0:01   Welcome to GRE. I'm your host. Keith Weinhold, learn how to reduce a giant operational expense that you'll have over time your tenant vacancy and turnover, including how many units you must own before you hire your own on site property manager as your employee. Whatever happened to agent commissions in light of last year's NAR settlement, then a timely update on teak tree investing today on Get Rich Education.   Mid South home buyers. I mean, they're total pros, with over two decades as the nation's highest rated turnkey provider. Their empathetic property managers use your ROI as their North Star. So it's no wonder that smart investors just keep lining up to get their completely renovated income properties like it's the newest iPhone. They're headquartered in Memphis and have globally attractive cash flows and A plus rating with the Better Business Bureau and now over 5000 houses renovated their zero markup on maintenance. Let that sink in, and they average a 98.9% occupancy rate, while their average renter stays more than three and a half years. Every home they offer has brand new components, a bumper to bumper, one year warranty, new 30 year roofs. And wait for it, a high quality renter. Remember that part and in an astounding price range, 100 to 180k I've personally toured their office and their properties in person in Memphis. Get to know Mid South. Enjoy cash flow from day one. Start yourself right now at mid southhomebuyers.com that's mid south homebuyers.com   You're listening to the show that has created more financial freedom than nearly any show in the world. This is get rich education.   Welcome to GRE from Manchester, New Hampshire to Manchester, England and across 188 nations worldwide, I'm Keith Weinhold, and you are back inside one of America's longest running and most listened to shows on real estate investing. This is get rich education. What's all that stuff really mean? I'm just another slack jawed and snaggletooth podcaster, a shaved mammal with a microphone. I'm joining you from here in London, England this week for the first time ever on the show. More on that later. Let's talk about reducing the biggest operational expense that you're ever going to have as a real estate investor, at least the one that you can exert a good measure of control over. That is reducing your tenant vacancy and turnover, that constant menace. Now, I suppose you might say that property tax is your biggest ongoing ops expense, but you've got less control over your property tax rate. So yeah, we're talking about increasing your net income by lowering your VIMTUM operating expenses. Vacancy is the V in that acronym. This is big because this can make or break your ability to have your property create positive cash flow and getting tenant turnover right both increases your income and reduces your expenses. It is springtime currently, and it's soon going to be summer, so it is the right time to talk about this. It's when there is more tenant turnover. The goal here is for you to really move the dial in increase the likelihood that your tenant is going to renew their lease. Now, sure if your tenant gets a new job out of town, they're going to move out. But if they're moving because of too many maintenance issues, well then that's something that you could have fixed. The average tenancy duration in the US over time is two to three years. And of course, that's going to be longer in single family rentals and shorter in apartments. And how long your tenant stays is driven by three factors, the price of your unit, the quality of your maintenance and the quality of your management. Let's say that your tenant moves out. To be conservative, that your vacancy period is two months between tenants. Okay, that's the turnover and the time to lease. It two months is a somewhat longish vacancy period. But come on, it happens sometimes, especially if you're going to make upgrades between tenancies and you're busy with other things in your life, if you have a move out every year at that rate, well, that is too often. That would amount. To a vacancy percentage of 14% you might think it's 17% but it isn't, because it's a 12 month vacancy plus two vacant months, all right, but if instead that tenant moves out every two years, that's just 8% vacancy, and every three years that's just 5% vacancy. Of course, if you keep your vacancy period to only one month rather than two, you can have all those numbers. You can really see how you are increasing your income by retaining the tenant. The most vital thing for you to keep in mind is that fast quality maintenance and good communication are by far the best forms of customer service that a property manager can provide, so prompt, quality maintenance. That's a retention strategy. Being a proactive helps. One strategy you can engage in is to reach out to the tenants two months before their lease is set to renew, and that's the time to give them the new lease price and ask them if they intend to stay. If they say, No, they're not, ask them why. And occasionally, you can sway them if there's been a misunderstanding in your relationship, for example, a lingering maintenance issue that hasn't been addressed, and perhaps they didn't bother to contact you about that, if nothing else, I think I mentioned this to you one time before offering a small reward, like a gift card helps. I mean, creating this sense of reciprocation is really one of the best retention tactics out there, even if the items being reciprocated aren't anywhere near equal value, like the value of a 12 month lease versus you giving them, say, a $50 gift card now, say you've tried those strategies, and none of that works, and your tenant does decide to leave, perhaps 45 days from now, but you know that you've got time in your life to turn over the unit now, and You know that you're going to be really busy with other things in 45 days. One thing that you can do then is shift your strategy to pay the tenant. Say you can pay them as little as 10 or 20 bucks a day to leave early. This way they'll vacate during a period where you've got the time to devote to the vacancy and the turnover and the showings to prospective new tenants, and that way, it's not going to linger vacant as long now, a technique like this is a little similar to an eviction, where if a tenant has violated their lease or becomes non paying, without you having to go through the length of Your court driven formal eviction process, you can pay them a lump sum to leave early. Hopefully that's not your situation, but that can come up. And I think you've heard of it before. This is known as the Cash for Keys strategy. That means to get a tenant that's made some violation against their lease, and you want to have them vacate the unit sooner. This means that you get the keys in your hand and the right to enter when you pay them to leave, rather than having to go through the not so fun eviction process and see a tenant wants to avoid a formal eviction as well, because that goes on their record, and then it can make it tough for that tenant to get rental housing elsewhere. But I dislike the Cash for Keys strategy in order to hold off from a formal eviction, because what that does is that rewards a person that violated a lease, although we know that that might also shorten your economic vacancy period, and it could actually be economically beneficial to you, Cash for Keys. It's just not ethical, though. I know it might be tempting for you, the landlord, the cash for key strategy. It rewards societally immoral behavior. Now, of course, you might be using a professional property manager that does all of this stuff for you, like I do today, but still, these are often the best practices for your manager. And I started out self managing, just like a lot of real estate investors do in the beginning, and that's where I learned strategies and techniques like this for reducing your tenant vacancy and turnover. Now, here's a really interesting question that you may not have had to ask yourself yet, but you may down the road, if you've grown your portfolio to a certain size and you're serious about reducing your vacancy and turnover expense, it might be time to ask yourself one big question, and that is for your management and maintenance. Should you use contractors, or should you start to hire your own employees? Now, if you have a small portfolio, it won't be enough work for you to keep an employee busy, so you should go with contract. Contractors. On the other hand, if you have an apartment complex with on site property management, I would definitely recommend having a make ready crew on site, because it's just so easy for them to get to and from a job site. Now, you should still maintain relationships with contractors as a backup, of course, and you should also have specialists like plumbers, electricians and HVAC people ready to call now, most investors are small and they use off site management, but if you grow big enough someday, or maybe it's two day, the important point about employees is that you really need to stay on them, because every extra hour costs you. You don't want anyone out there who's thinking that speed isn't essential, because they're like, ah, you know, I get paid by the hour. Contractors, on the other hand, they quote you or your manager a job up front. So while an extra day hurts because it's one more day you can't lease the unit, it hurts less than it does if you have your own employees. One problem with contractors is they often can't start right away, and this tends to be more true if you're self managing. See if you use a professional manager. They might have their own in house people so you can leverage their employees without having to manage employees yourself, even if your manager brings in an off site contractor, like an electrician or a plumber. Well, that contractor probably gets a lot of business from your property manager, and they have some sense of loyalty to your property manager, therefore, they're incentivized to show up on time faster than if you're trying to self manage, say, your small portfolio of five properties, and you or your tenant are the ones that call the electrician or the plumber. Well, those contractors are going to be less likely to prioritize you and your infrequent requests, and this is just another reason that I like to employ professional management and not self manage. Now, virtually no new real estate investor is going to hire their own employees, and most are never going to at all. All right, but how do you know? How would you know when it's time to hire your own property manager or your own contractor, and have them on your own payroll and you are their boss, if you've got under 20 to 30 units, all right, typically third party property management or self management with contractors, that's going to make more sense, because having a full time, dedicated employee, it's just not financially justifiable. Below 20 or 30 units, you're not going to be able to keep that employee busy. And I'm generally talking about if you have one apartment building here, or a bunch of single family rentals, only if they're in small, close proximity to each other. What about if you grow up to 30 to 60 units? All right now you're in a gray area. If the property is something that's pretty management intensive, like high turnover, or you own an older building, or you generate a lot of work orders, or you're in a challenging area. Well, at 30 to 60 units, you might justify a part time on site person. So how that could practically work in this 30 to 60 unit gray area, what you can do is have a resident manager that gets free rent, plus perhaps a small stipend from you. Okay, so that's a strategy that you can play in this gray area zone. That way they can be responsive to tenant requests, and you can keep your vacancy and turnover costs down. All right, how about when you're going even bigger and you reach 60 to 100 units. Now you're in the range where a full time on site manager or a maintenance person, starts to make financial and operational sense, because here it's 60 to 100 units. Your staffing model, it might be that you have one full time manager, they do the leasing, the tenant relations, in the admin stuff, and you'll also have a second person, a full time maintenance tech if they're needed, all right? And the final tier here, if you reach more than 100 units, oh, okay, now it is standard for you to have a full on site team. You could be in the hundreds of units. So we're talking about a property manager, a leasing agent, a maintenance lead, a groundskeeper and sometimes also a part time assistant manager. So that's it. That's the hierarchy of how, based on your portfolio size and where they're located, how you can serve tenants well and reduce your vacancy and turnover expense. Yes. All right now, what are some things that can shift those thresholds, those unit counts? Well, high rent or luxury buildings, they often need on site staff at a smaller unit count, very low rent or section eight properties, they may need more intensive oversight, buildings that have amenities, like some of these newer apartment buildings that have a pool and a gym, okay, that can trigger some more staffing needs. And if you own multiple properties that are nearby to each other, well, then you can share employees across those properties. And you've got to look at local labor costs in places like New York City, northeastern New Jersey, parts of New England, Miami or LA, those high cost places. Then breaking even on staffing. That probably takes a bigger property than those numbers that I talked about. But here, we tend to invest in those investor advantage areas, the inland northeast, the South, in the southeast, in the Midwest. Now, if you've got, say, even 50 smaller properties, but they're scattered all over the place, in multiple states, well then of course, you're not going to hire employees. A good general metric to leave you with here is that one on site employee for every 50 to 80 units that you own in the same area, that is common, that is a common industry practice in market rate multifamily apartments right now, these are pretty timeless strategies I've been talking about with you here.    As for what's happening in The market lately, I continue to slowly get more optimistic about the long beleaguered apartment market. A few weeks ago, I talked about how there's finally been greater apartment rent increases, although those rent increases are still historically low. What recently we learned that apartments are seeing a longer duration of tenancy and today, per real page, every single one of the 50 largest apartment markets has posted month over month occupancy gains, and then that's somewhat commensurate with what we're seeing on the one to four unit side, because the home ownership rate has fallen. It just fell from 65.7% down to 65.1 quarter over quarter. Now that doesn't sound like much, but that's actually a substantial drop in the home ownership rate in just one quarter. And fewer homeowners means more renters. So this basically means that the percent of Americans, renting has gone up because you just take the flip side of those numbers. So the rentership rate has essentially risen from 34.3 up to 34.9 in just one quarter. Something that completely makes sense, because we all know that home ownership affordability, especially for that first time, home buyer is lower, more renters. Is good for rental property owners. It's bringing more rental demand, more occupancy and more future pressure on rising rents. Now I want to follow up with you on a story from last year that made a lot of waves in the larger real estate world, but not so much for real estate investors. You surely remember this. That is the NAR settlement that a lot of people thought would result in lower real estate agent fees. Lowered commissions were coming. That's what everybody thought last year. Stories about that were all over the place that realtor fees are about to shrink. What's happened since then? Well, not much realtor fees, they still haven't fallen in any significant way, although the settlement was more than a year ago and this went into effect nine months ago. So to back up for a moment, in case you missed it, what happened is that a group of sellers accused the NAR, the National Association of Realtors, of inflating home costs by letting buyer side and seller side agents communicate about commission rates on the MLS home database, which only agents can see. And a jury agreed, so the NAR settled the lawsuit for over $400 million in damages, and it barred agents from sharing commission rates on those MLS databases. So that was a huge change that was expected to extinguish the globally high five to 6% realtor fee in the United States, because global averages are between one and 3% so as a result, the US real estate industry, they were bracing themselves for up to a 30% drop in the commissions that Americans pay annually in fees. But the new rules. Things have been nothing other than a big nothing burger. It only took a matter of weeks, really, for most agents to realize, you know, what did the agents do? They just simply moved their conversations off the NAR website and over to phone, text and email. That's it. Yes, that's all they did. So since that time, the average commission for buyers agents has barely budged. It ticked down less than 110 of 1% so for example, it ticked down less than 500 bucks on a 500k home that's per Redfin. So agents still expect sellers to pay five to 6% now I'm not against agents. Not only can an agent guide you through the process, what they can do is get you a higher sale price than they could have otherwise, because they really know how to market and advertise your property and reach a greater pool of buyers, but their commission rates have hardly budged. And of course, here at GRE marketplace, we typically use a direct model where agent compensation isn't priced into your properties anyway.    To review what you've learned so far today, being proactive can help reduce your tenant vacancy and turnover expense and increase your income. Prompt, quality maintenance, that is a retention strategy in itself, as can having one on site employee for every 50 to 80 apartment units. And one year later, changes at the NIR really haven't reduced aging commissions appreciably. I'm coming to you from London, England today, taking in all the top sites, Buckingham Palace and watching the changing of the guard over there, Big Ben a Thames river cruise and the London Bridge, which is actually called Tower Bridge. The real estate transaction that I'm currently involved in here is paying $550 a night to stay here at a nice hotel in the center of the city. It's right near the Thames, kind of a steep rate, and I sure didn't have to stay right in the city center, where everything is more pricey. But that's the experience that I want to have. Next week, I'll bring you the show from Edinburgh, Scotland, where I'll be paying even more for a well located hotel right on the Royal Mile, and I'll tell you how much more then I am here to boost their economies, I suppose more next, including a really timely update. I'm Keith Weinhold. You're listening to Episode 555, of get rich education.    The same place where I get my own mortgage loans is where you can get yours Ridge lending group NMLS, 42056, they provided our listeners with more loans than anyone because they specialize in income properties. They help you build a long term plan for growing your real estate empire with leverage. Start your pre qual and even chat with President Chaley Ridge personally while it's on your mind, start at Ridge lendinggroup.com. That's Ridge lendinggroup.com.    You know what's crazy? Your bank is getting rich off of you. The average savings account pays less than 1% it's like laughable. Meanwhile, if your money isn't making at least 4% you're losing to inflation. That's why I started putting my own money into the FFI liquidity fund. It's super simple. Your cash can pull in up to 8% returns and it compounds. It's not some high risk gamble like digital or AI stock trading. It's pretty low risk because they've got a 10 plus year track record of paying investors on time in full every time. I mean, I wouldn't be talking about it if I wasn't invested myself. You can invest as little as 25k and you keep earning until you decide you want your money back. No weird lockups or anything like that. So if you're like me and tired of your liquid funds just sitting there doing nothing. Check it out. Text family to 66866, to learn about freedom. Family investments, liquidity fund again. Text family to 66866.   Tom Wheelwright  24:21   this is Rich Dad advisor, Tom wheelwright. Listen to get rich education with Keith Weinhold, and don't quit your Daydream.   Keith Weinhold  24:37   Welcome back to Episode 555, of get rich Education. I'm your host, Keith Weinhold, with an episode number like 555, you would expect me to go deep with you on real estate pays five ways, but we did that five weeks ago on episode 550 with your audio masterclass right here on the show today, we're talking about something with less upside. Than say that or the inflation triple crown, and instead on reducing your downside, vacancy and turnover expense, next week here on the show, I expect to sit down with a guest that's a highly regarded financier and author of a fairly hot new finance book, Christopher Whelan, and next week's show could get really interesting, because I've heard Chris say something about how real estate prices could fall back to 2020 levels. In my opinion, that is so many levels of unlikely that happening is about as likely as your grocery bills falling back to 2020 levels. So we'll see it could turn into a debate next week with Christopher Whelan and I. He is a sharp, well informed guy that also used to work at the New York Fed. That's next week down the road, longtime and former co host of the real estate guys radio show, Russell gray will join us again here, and we'll see what he's been up to in his post real estate guys, radio life that's coming up in a few weeks. Lots of great future content here, monologs, yes, those slack jawed monologs For me, repeat guests and new guests joining in as well. Back to this week now, there's an intriguing and potentially lucrative investment that we've discussed on the show here before, and I do have a timely and crucial update about it. A little while back, I sat down with the teak operations principle when we were in New Orleans together. These are yes, those Panama teak tree plantations that so many of you have already invested in. Yes. So as it is here. I am an American in London today talking about teak trees in Panama and I interviewed our upcoming guest here when we were in New Orleans together, the teak investment has a long time horizon, because trees have to grow. There's also a low cost of entry and no loans available. This is a real estate investment. You can own the land with the title to it and the trees that grow on top of them. Historically, teak returns have been five and a half percent, which doesn't sound like much, but see it grows in board foot volume at the same time that the unit price grows. And if inflation runs high over the next 25 years, your return might be higher. But the reason that we're discussing this now is because the principal, Mike Cobb here meeting with me, he is going to mention a price, and this is key two weeks from today, on June 9, the price for the teak parcels increases substantially. I'll tell you about that shortly. So for GRE followers, you can get locked into the lower price for just two more weeks. Here's my chat from a little while back with the teak tree investment principle, and then I'll return to bring you more.    Hey, did you know that you can own a quarter acre parcel of a producing teak plantation, you own the title to the land, and you get the growth in the trees. On top of that, this is something that you can do as an investor. And teak trees are a valuable hardwood that you own, typically in Central America. So there's a very low cost of entry to this investment, and that's what attracts a lot of people to it. And I am with Mike Cobb, the CEO. He's also the author of the new book how to buy your home overseas and get it right the first time. But Mike, a lot of people are interested in the teak investment because it is so approachable. Tell us about it. Give us a general overview.   Mike Cobb  28:42   absolutely, you know, thanks for having me on. It's always nice to be with you. We're, we're having some fun here in New Orleans, which is terrific, you know, yeah, the teak plantation is something that I envisioned back in 1998 so what's that like 26 years ago? Right? And in 1999 we planted our very first 100 Acre teak plantation. Because what we thought about at the time, which has now proven true 25 years later, is that, you know, I was either going to need the money in 25 years and be really glad I did this, or I wasn't going to need the money in 25 years and I was going to be really glad I did this. You know what? I don't really need the money now, but I'm really glad I did this. And 25 years comes. And I think that's been really the challenge for a lot of people looking at teak. They're just like, ah, 25 years. It's too long, but 25 years comes. 25 years will come, and you can either have planted the trees and be ready to take this huge windfall of return, or you won't be getting a windfall return. So I think that's the challenge, the mental challenge, I think maybe an average investor has, but I know you work with superior investors because they're paying attention to what you're writing, they're watching your podcast, they're reading your newsletter. You have far superior investors than I would say, the average investor. So I think this is a great thing for folks to check out.   Keith Weinhold  30:00   All right, so you're talking about the investment timeline, from the time a tea tree seed is planted until the harvest time that can feel like quite a while. You have been doing this over 25 years, and that is key when you as an investor go offshore or go overseas to have trust in a stable company that's been around for a long time. That's why, really, you're one of the few people that I work with who are outside of the United States real estate like the teak trees.   Mike Cobb  30:25   Thank you. Yeah, we've been around for 31 years. I've been working in the region. 31 our development company is 28 years old. Our plantation is now 26 years old. 25 with the trees, but we bought the land 26 years ago. But the bottom line, you're right and and the other thing that we should care about. And you brought this up earlier, when we're kind of chatting, is country, what country are you planting trees in that you got to wait 25 years for them to mature and harvest? By the way, the Panama. By the way, Panama, and of all the countries in the region where I feel the most comfortable as an investor, Panama's yet, because Panama's got the canal. And I know people say, oh, yeah, that's right. It's a vital strategic US interest. It's a vital world interest. The Chinese care about it as much as we do. The Europeans care about it. Anybody who wants commerce to happen cares about that canal being open. And so you've got this country, Panama, that has the canal stable, economically stable, politically stable. And when starting to talk about 2550 7500, year time frames, because you own the land, you get the harvest in 25 years, you replant, and then your children get the next harvest, and your grandchildren get the next harvest. It is truly generational wealth. Stewardship   Keith Weinhold  31:41   Panama is a little bit like investing overseas with training wheels on their well developed, first Central American nation. They even use the United States dollars. They do is that familiar? Absolutely well. But as the investors thinking about investing in teak plantations, just tell us about the properties of teak wood, of all wood types. Why teak? Tell us about the value there.    Mike Cobb  32:00   Yeah, teak has been grown in plantations, starting with the British back about 400 years ago. And so you've got centuries of plantation growing of teak as a crop, right? And so you've got this incredible longevity of information and things like that. And I know some of the stats off the top of my head, since 1972 the average price of teak lumber has has risen about five and a half percent a year over a 52 year period. Talk about track record, centuries of growing as a crop, right? 52 years as a lumber commodity. Look, people been using it to make ships. Its hardness is its most valuable characteristic is an extremely hard wood. It's resistant to rot fungus, so it's used in outdoor furniture, for example, right? Some of the stuff on the Titanic they pulled up from the bottom of the ocean, you know, chairs made a teak, right? Teak. But ship builders fine furniture, outdoor furniture and and they're cutting teak down. This is so important, they are cutting teak down eight to 10 times faster than anybody in the world is replanting it. So just imagine what that does to supply and demand and prices based on just basic economics, right?   Keith Weinhold  33:13   Yeah, that is some scarcity. That is a really good point. Tell us about what you're surely interested in. What do the investor returns look like.   Mike Cobb  33:21   Yeah. So you know, to own one of these quarter acre parcels, by the way, you said it before you own the land, you get title to the land you own the trees. $6,880 that's your that's your entry. Gosh. So for less than $7,000 you own a quarter acre of teeth trees that in 25 years projected returns. We all projections right about $94,000 a little over $94,000 so 7000 turns into $90,000 over 25 years, harvest, plant the trees again, and in 25 years, your kids or your grandkids will get the next harvest, and so on and so on. It is a powerful generational wealth stewardship. In fact, right now we have what we call give the gift of teak because look, you know, you got kids, you got grandkids. What are you gonna get them? Right? I mean, they got everything they want, presumably, right? You buy them a teak parcel, right? Buy that kid, buy that grandkid, a teak parcel. What a cool idea. Oh my gosh, in 25 years, you might be gone, right, but they're gonna get this big windfall, and they're gonna thank grandma or grandpa, right for for thinking of them 25 years into the future?   Keith Weinhold  34:27   Yeah? Oh, I love that. And you're so proud about what you do. You regularly offer investor tour so that they come and see the teak. But maybe you know, for you, the investor, you're wondering, okay, if you're used to investing in us real estate, you might be making two leaps here. You'd be going from residential real estate to agricultural, and you'd also be investing in a nation outside your home country. And when it comes to those sort of questions, I think any savvy investor asks, okay, what are the risks involved with this investment? Can you tell us about that?   Mike Cobb  34:59   Yeah, sure. Look, you've got political risk, country risk, political risk, which, I think again, of all the countries in the region, Panama, dollar, economy, canal, safe, stable. So the political risk is minimal. It's there. It's real. You know, fire risk is an issue, right? Trees burn. The good thing about teak is that after about year three, they're up. And you keep them trimmed, trim all the low branches off. So fire risk really drops incredibly low after about year three or four. But ultimately, it's about professional management. We have a company called Heyo Forrestal that we hired 25 years ago, 26 years ago, actually, to help us find the land, do the analysis of the land, make sure it was good for teak. And when you hire professionals, you get professional results. I mean, we stayed with this company for 26 years now, and the guy that we met early on, a little forestry engineer, is now General Manager and partner in the business. So we've watched that business grow up alongside ours at the same time. Those relationships, you know, Dolly Parton and Kenny Rogers have a song you can't make old friends. So here we are with Jacobo and some of the Luis that we've worked with for, you know, 26 years, and the relationships matter, especially in that part of the world, but professionalism and professional management is the key, and you have that alongside the relationships. Both are important.   Keith Weinhold  36:20   yes. So we're talking about how the property manager is such an important part of your team, and you think about your single family homes or your apartment buildings. And Mike here is talking about the importance of professional management, because teak trees need a little management and pruning, and sometimes there are thinnings which can give you some income so that you don't have to wait 25 years. Correct another way in which you might not have to wait 25 years for the full harvest cycle is at times you can buy trees that are, say, already seven years old, so you can only be waiting 18 years, or that are teens, so you might only be waiting 10 years, or some things about that, those are some of the options. But Mike, before I ask you if you have any last word, if you want to learn more about this, get some information, learn more about it, and learn how to connect with Mike's team. He is one of our GRE marketplace providers, and he's the owner of that company. You can do that at gre marketplace.com/teak, any last thing someone should know about teak before they consider investing? Mike?    Mike Cobb  37:16   Yeah, well, two things you mentioned the tour. So we do run discovery tours. We have one coming up in January, end of January, two days, we go out to the plantation, the teenage teat plantation, by the way, oak, which is eight or nine more years to harvest. Then we're going to the sawmill, because all of our logs go through a sawmill to convert to lumber, which enhances the return to the investor.    Keith Weinhold  37:36   Do the teens sleep until noon? Or can we visit them   Mike Cobb  37:38   and then they're on their phones all day If we're gonna go visit them. We'll wake them up and, like, get on their phones. But here's, here's the last parting word. I think it's scary for a lot of people. It is scary. You're going overseas, you're outside of, you know, residential you're going into a new industry. You're going to a new country. The reason this works for so many people, over 1000 now, have done this, is it's such a small bite, $7,000 and if that's maybe one or 2% of your portfolio, what I hate to say, put it on the table and roll the dice, but you'll be happy you did. I'm happy I did. It's a small bite, but that international diversification is so important. And then you put it in something that's absolutely not correlated to the market. It's not correlated to us real estate. I mean, in 2008 to 2012 when real estate was dying in the US, our trees just kept growing. So non correlated, non US, right? And non residential. I think that's the reason you want to take a little tiny piece of your portfolio and put it overseas in something like teak.    Keith Weinhold  38:42   We know over the long term that it has grown in value 5.5% a year, but at the same time, it grows in volume, in the amount of board fees you're getting a crease, an increase in both unit value and volume. It's really growing a couple ways. At the same time, you've had over 1000 different individual investors invest in the teak now, several dozen, maybe even more than 100 of those have been you the get rich education follower. So again, thanks for joining me, Mike. If you want to learn more, start at gre marketplace.com/teak. I'm Keith Weinhold. I'll see you next time.    Yeah, good information from Mike there again for GRE followers, that 6880 price deadline is Monday, June 9, and then it goes to 8680, that is a 26% price increase, and this is because land and planting costs have skyrocketed. And you know, I have long wondered about when they were going to change that same lower price that they've had for a lot of years. The provider recently added a sawmill to convert logs to lumber, and that enhances investment returns. So when you inquire for more info, you can ask about that, and that could very well put them above the 94k per part. Possible projected payout. Teak, hardwood, it just has some amazing physical properties. It's not your run of the mill. Backyard. Maple, it is a real asset. Think of it as a forest that fights back against Fiat and the provider reputation and continuity are almost impeccable. They've even had the same forestry manager, yeah, sort of like a property manager for trees, because trees take things like prunings and thinnings, the same manager for all 26 years of the teak operation. In the future, I might join one of their teak investor tours in Panama, and if I do, I'll be sure to let you know so that we can meet up that might even be a GRE exclusive tour. What you really need to know now is that, again, the lower price is good until Monday, June 9, to get started or simply learn more, visit gre marketplace.com/teak, that's t, e, a, k, until next week, I'm your host. Keith Weinhold, don't quit your Daydream.   Unknown Speaker  41:10   Nothing on this show should be considered specific, personal or professional advice. Please consult an appropriate tax, legal, real estate, financial or business professional for individualized advice. Opinions of guests are their own. Information is not guaranteed. All investment strategies have the potential for profit or loss. The host is operating on behalf of get rich Education LLC exclusively.   Keith Weinhold  41:34   You know, whenever you want the best written real estate and finance info, oh, geez, today's experience limits your free articles access and it's got pay walls and pop ups and push notifications and cookies disclaimers. It's not so great. So then it's vital to place nice, clean, free content into your hands that adds no hype value to your life. That's why this is the golden age of quality newsletters. And I write every word of ours myself. It's got a dash of humor, and it's to the point because even the word abbreviation is too long, my letter usually takes less than three minutes to read, and when you start the letter. You also get my one hour fast real estate video. Of course, it's all completely free. It's called the Don't quit your Daydream letter. It wires your mind for wealth, and it couldn't be easier for you to get it right now. Just text gre 266, 866, while it's on your mind, take a moment to do it right now. Text, GRE to 66866.   The preceding program was brought to you by your home for wealth, building, getricheducation.com