Podcasts about gre

The mission of this channel is to reduce unnecessary human suffering, and one way to do this is through a proper understanding of evil. One underappreciated source of evil is dread: the deeply unnerving uncertainty that attends awareness of our mortality. Attempts to both avoid dread and foreclose on it create a good deal of misery in the world. However, alternatives exist that can make life less hellacious. 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 #peace #wellness

Are You Missing Out on Real Estate's Best-Kept Secrets? Imagine investing in properties where: Tenants fix their own roofs You can boost income with a few tech upgrades Most investors are too scared to even look This episode reveals two underground real estate niches that could change your wealth strategy forever: Mobile Home Parks and Parking Lots Special Guest: Kevin Bupp, an investor with over $1 BILLION in real estate transactions under his belt shares how everyday investors are building wealth in places others overlook. Grab your FREE real estate investment white papers and unlock hidden wealth strategies at InvestwithSunrise.com  Resources: Text FAMILY to 66866 Call 844-877-0888 Visit FreedomFamilyInvestments.com/GRE Show Notes: GetRichEducation.com/574 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:   Keith Weinhold  0:00    Welcome to GRE. I'm your host. Keith Weinhold, talking about first mobile home park investing and then investing in parking lot assets. What makes them profitable? What gets investors excited about mobile home parks and parking lots? What are the risks and what's the future of both of these real estate asset classes? All with a terrific guest today on get rich education.   Keith Weinhold  0:28   You know, most people think they're playing it safe with their liquid money, but they're actually losing savings accounts and bonds don't keep up when true inflation eats six or 7% of your wealth. Every single year, I invest my liquidity with FFI freedom family investments in their flagship program. Why fixed 10 to 12% returns have been predictable and paid quarterly. There's real world security backed by needs based real estate like affordable housing, Senior Living and health care. Ask about the freedom flagship program when you speak to a freedom coach there, and that's just one part of their family of products, they've got workshops, webinars and seminars designed to educate you before you invest. Start with as little as 25k and finally, get your money working as hard as you do. Get started at Freedom family investments.com/gre or send a text now it's 1-937-795-8989, yep, text their freedom. Coach, directly. Again, 1-937-795-8989,   Corey Coates  1:40   you're listening to the show that has created more financial freedom than nearly any show in the world.This is get rich education.   Keith Weinhold  1:56   Welcome to GRE from Burlington, Vermont to Burlington, Washington and across 188 nations worldwide. I'm Keith Weinhold, and you are inside get rich education. We are all firmly in the fall season. Now, autumn, if you prefer. And as we often do, we're discussing residential real estate investing today, but it's two different and distinct niches within that, and I guess they both have to do with wheels, as it turns out, mobile home parks in the first part of the show and then parking assets later today. I think there's a compelling future use case for at least one of those two to speak to our international audience for a moment, but this will actually help clarify things for you. If you're a North American too, though it's called a mobile home, well, it doesn't really have that much to do with wheels. There might not be any wheels on it. And if a resident lives inside one of these for, say, a decade, well then it's probably going to remain attached to that same location on the ground all 10 years. That's why a mobile home is often referred to now as a manufactured home. What it is is it's a factory built residence, constructed on a permanent chassis and then transported to a site. I mean, that's what we're talking about here, and they are a less expensive alternative to traditional homes that have, say, a cast in place, concrete foundation. So therefore, understand, mobile homes are affordable housing, highly affordable housing, and that's really important in this housing affordability crisis. And I've talked quite a bit about that on the show, and the meager national supply of that all types of affordable housing, they are recession resilient. I mean, that's just one reason why we love affordable housing types here at GRE where we're often buying rental property just below an area's median price. You know, people think of mobile home parks MHPS, that they're all crime ridden and that there are slumlords. But that is not true in every case. There are actually nice ones. If you're an MHP investor, you often only own the land beneath the structure, and not the mobile home itself. The resident owns the mobile home itself. So therefore, if there's a leaky roof or a window needs replacement, or flooring needs replacement, that is on the resident to fix, not you. MHP dwellers, they often don't have to pay property tax, though, because, like I said, they don't own the land. The landlord, or the community, therefore, is the one that has to pay the property tax. So there's some thoughts on mobile home parks for you, parking asset, real estate that's still settling into its post pandemic pattern with Return to Office mandates that aren't really fully matured yet. We're still settling in and seeing how that is going to look. And then when it comes to parking lots, you got to wonder about its future. When you consider the proliferation of autonomous cars, will that make parking lots obsolete? I'll have our guest address that longtime GRE listeners, you might remember episode 13 of this show, yeah, almost 11 years ago, that episode was about how autonomous cars will affect your future and your real estate and the very need for parking lots and a lot of what I discussed there in early 2015 that is beginning to come true, but this autonomous car adoption that is way slower than a lot of people thought. I mean, most Americans, they still have not been inside an autonomous car at all. A lot of people are still saying that they don't trust that that should change soon. But as for now, I'm just guessing that fewer than one in 10 Americans have been inside an autonomous car, probably quite a bit less than that. Today's terrific guest has over $1 billion in real estate transactions under his belt. This should be interesting. He is a specific investor in both mobile home parks and parking assets.   Keith Weinhold  6:26   Today's guest is a seasoned real estate investor entrepreneur, and he's a prominent voice in the space, because he hosts the real estate investing for cash flow show. He's built a strong reputation as an expert in two niches that have less competition than some other investments, and we'll discuss those two today. They are mobile home parks and also parking asset investments too often overlooked yet pretty profitable niches, and he and I have a lot in common. I'm on the Forbes real estate Council. He is on the Forbes Technology Council. He and I are both native Pennsylvanians. It's been quite a few years. Hey, welcome back to GRE it's Kevin Bupp.    Kevin Bupp  7:06   Hey, Keith, thanks for having me back. And yeah, excited to be here, my friend, and excited to finally get caught up. When you referenced that, it was nearly eight years since we last spoke. I was taken back a little bit because A lot's happened in past eight years.    Keith Weinhold  7:21   I know that's wild with where things are at. People didn't even know the meaning of the word pandemic when you were last here on the show, Kevin, let's talk about really the case for mobile home parks. I know they can be a strong, cash flowing asset once people are really dialed into them. I think what's interesting is, since you were last here on the show, really, from the pandemic on, it's been a well documented national story where lay people just know about how the supply of housing just is not adequate in order to meet demand, and what that usually means, just talking about the single family space is, of course, they're building, but they're not building fast enough to keep up with population growth and housing demand. But what's so compelling about mobile home parks is, I mean, they're barely even building them anymore, like they are contracting in supply in a lot of areas. So tell us more about the compelling case for mobile home parks.    Kevin Bupp  8:16   Yeah, well, you had a big one. You know? It's an asset class that has a diminishing supply, right? We can get into the reasons behind that. But, you know, just from a high level perspective, one of the other factors as it relates to, you know, available homes, available housing for the growing population, is that while they are building stick boat homes, they're not fulfilling the needs of those that actually need affordable housing. So there's not a lot of the average working household can't necessarily afford the starter home any longer, and so mobile home parks are unique. I truly feel they're the best vehicle to help us fill this void of housing, affordable housing that is really needed throughout the entirety of the country. I mean, there's very few markets in this country that are still affordable. There's some places you can still go buy. You can probably go to Flint, Michigan, buy a home for 50 or $60,000 but generally speaking, I think the median home price today, I think it's crested over 400,000 I don't have the exact number, but I do believe over $400,000 and the average starter family, or even folks that are, you know, just working two jobs, making 40, $50,000 a year, they can't afford to purchase that type of home, a $400,000 home. And so again, these mobile homes you had mentioned, they're not building mobile home parks any longer. However, they're still building new mobile homes, and it's kind of interesting what's evolved over the past 10 years. The quality of the product is it's like a night and day difference of what it looked like 1015, years ago, of the homes themselves to what they look like today, and what you get for your money. You know, the average single wide that we might be putting into a community, brand new home, 13, 1400 square feet. Someone could come in and for roughly $80.70 $80 a foot, can buy a brand new home that's never been lived in before, that's unheard of, that's absolutely unheard of when you compare it to the average or the median home price across the US today. So it really is kind of the last frontier, and it's typically any market that we're in, if you take the same comparable quality of an apartment complex in the same, you know, area of town, the same school districts, we're typically about 20% less all in cost to actually own your own home, versus that of even renting the comparable size apartment. So it's a very compelling reason for folks that are looking for an affordable place, but not just affordable, but clean, safe and quiet. I mean, like we run very respectable communities, they're in the really good school districts. They're places that folks are proud to live and raise their families, then,    Keith Weinhold  10:22   yeah, that's true. This would really help meet that affordability challenge, another problem that's been so well documented. Talk to us more about what makes mobile home park investing different from investing in single family rentals or even a fourplex or a 20 unit apartment building.    Kevin Bupp  10:40   A lot of the fundamentals are similar, and I would say that it's probably more comparable to that of an apartment complex to a certain degree. Just think of it as a horizontal apartment complex, where units aren't stacked on top one another. They're just layout horizontally more wider than they are tall. But the bigger difference is in most instances, we don't actually own the homes, so the residents own the mobile homes, whereas we as community owners own the infrastructure, we own the land. We own the roads, when the sewer lines, the water lines, the common areas, if it has a clubhouse, if it has amenities, so we maintain and we own all that collective area where the folks basically come and they bring their home, they fix it to the ground, and then ultimately pay a slot rent to have their home there on that premise. And so for us, it's very attractive in that the resident that's in their home, if they have a Roofing Leak, they have a plumbing leak, they have their HVAC system go out. They're not calling us like they enter an apartment complex. It's on them, yeah. So they're homeowners. And a couple other really attractive elements of that that come as a result of having residents that live there, not just renters, is that they're very sticky. And so just like in a standard single family subdivision, where you've got folks that might have lived there for generations, you just reference that your parents literally live in the same house, and so they've lived there a very long time. It is quite common to find residents and even multi generations of the same family that live in our communities. And a couple come to mind. We just celebrated a woman's 50th year of living one of our communities in brendalin. And so you've got sticky resident base. There's not a lot of turnover. And then the last big piece of it that is really attractive us is a homeowner mentality is very different than a rental mentality as far as upkeep. And so you got folks that they plant flowers, they ensure that their units have curb appeal, right? They put flags out, they put decorations out during the holidays. It's a lot more warmth than that of what you might find in a traditional rental apartment complex.    Keith Weinhold  12:26   So what all does the tenant pay for? You mentioned that they pay for the lot rent. What other expenses do they have? How does that look for them?    Kevin Bupp  12:36   Typically, you know, utilities. So they'll have their own individual meter. They'll pay, you know, direct to the utility company, utility provider, water and sewer as well. They'll pay for their water and sewer usage. And that can come in many different forms. Sometimes, where our communities have public utilities, where it's built directly by the utility provider, sometimes it's more of a private system, where we're actually acting and participating as utility provider and building them back for their usage. Really the standard things that you might pay for if you live in a single family home. I think so the areas where it might differ. And honestly, this is really community by community for us, some of our communities, literally, the residents, they pay for the utility use, but outside of that, literally, we mow the grass, we shovel their driveway, we shovel their walkways, we handle all those type of elements, whereas some other communities, the residents we might require that they actually maintain their own grass so they their own grass, so they have to mow it, or hire a a third party vendor to come in and mow it. They might have to actually shovel their own driveway. And a lot of how we run a community really is depend on how it used to be run when we took it over. You know, if it's not broke, we don't fix it. And so a lot of times we don't like shaking things up too much. If they're used to a certain way, we just keep it status quo and continue rolling on of how the prior ownership used to manage it really similar elements of what a folks, an individual living in a single family home, might pay for so very similar.    Keith Weinhold  13:48   Okay, so they pay you the rent for the lot. This puts nearly all the maintenance and repair burden on them. So is there any sort of HOA like body here?    Kevin Bupp  13:58   Not in our community. You do find some communities, and most of these that have an HOA are typically a community that's gone through more of a co op type arrangement to where the actual individuals only like fractionalized share of the community, the residents that live there, and so then they have a the oversight from an HOA that's managing the daily operations, managing the financing, managing the budget, things like that. But in our communities, no, there is not an HOA, I'd say the one other thing that's typically included in lot rent is they don't have property taxes, right? So we own the land, and so the individuals that live in these units aren't paying individual property taxes. A lot of states require that they have a registration fee, just like you do in your vehicle, that they would have to pay on an annual basis. And then most of them have insurance as well. You know they're covering you're carrying homeowners insurance on the actual dwelling itself. Outside of that, it's, again, just pretty straightforward,    Keith Weinhold  14:47   yeah. So here we are in this low competition, low supply niche that we're talking about here we think about communities and nimbyism and building, not in my backyard. ISM oftentimes that's a sentiment that residents of a certain area have, residents say something like, ah, we don't want this new 200 unit apartment building or mobile home park here in our single family home neighborhood, like, that's nimbyism. But in mobile home parks, to me, it seemed like nimbyism is often at a different level. It's at the government or the municipal level, like your town or city, might not want one, because it doesn't generate as much property tax revenue as a new single family neighborhood would. Is that the reality? Kevin,   Kevin Bupp  15:31    that's absolutely the reality. And that's why you don't see new parks getting built. I think last year, ones that I know of, there are about a dozen that were built, many more than that. They're actually shut down, you know, for redevelopment purposes. And so that is absolutely huge part of it. In fact, you know, it's frustrating, because pretty much every municipality across the country the topic of affordable housing, it's on the radar, and it's probably one that is discussed quite often. And in all reality, again, these mobile home parks really would help resolve that challenge at most of these you know, municipalities are the shortage of homes, affordable homes, that they're facing across the country. And so, you know, another big piece of it, you mentioned the tax basis, absolutely, you know, the municipality would make, they'd have much better tax revenue from pretty much anything else that could be built there. And so that's a big barrier. But the nimbyism piece of it, I think a big part of that is it's unfortunate. I think it's getting better over time. There's bad operators in our space, just like they're bad operators in the apartment space, just like there's bad operators landlords that have single family homes that just let them deteriorate over time and don't repair things. Unfortunately, we kind of get lumped all the mobile home parks get lumped in that bad bucket. And so while there's, you know, I always joke and say there's mobile home parks that are on the wrong side of town, wrong side of the tracks, right? You don't want to go to and during the daytime. Well, guess what? There's subdivision, the single family home, neighborhoods that are the same thing, and there's apartments that are like that as well. You don't go anywhere near them. And you've got the middle of the road, right? You've got just the good, hard working, blue collar folks that want to send their kids to good public schools. We've got those communities apartments are that way too single family home subdivision, you got white collar stuff. You got some higher end stuff. Unfortunately, we kind of all get lumped in that bad bucket. That's where the assumption that's made by folks that don't understand mobile home communities have never driven through one. They just assume that it's all, you know, basically, drug, sex, rock and roll, the wrong element that we do not want in our neighborhood. We don't want anywhere near us. It's going to devalue our home prices. And for that reason, you just don't see them getting built. It's unfortunate, but it's the truth.    Keith Weinhold  17:20   Yeah, I'm just thinking about the mobile home park that I drive past most often. It's sort of walled off. There's maybe an eight or 10 foot high wall around it. I don't know if that's something that the municipality erected to sort of screen its appearance off, or something that the mobile home park built, which is my guess as to who built it, but not all mobile home parks look blighted   Kevin Bupp  17:43   absolutely, yeah. And I don't know the case that you just referenced there. I mean, it could be for sound deadening purposes, if it's off of a busy road. It could have been something put up as far as just to kind of shield off so folks that are driving past don't see the community. My guess would be that's probably not the the reason that was built. But in any event, these are, there's, you know, we've got a number of communities, Keith, that if you drove through, and I didn't, if I blindfolded you and you drove in, so you went past the entrance, you went past a sign that said manufactured home community, and I took you down a road, you wouldn't believe that you were actually in a mobile home park. Some of these homes, they're double wide homes, and they look like ranch homes, and so they're actually laid out perpendicular to this, or parallel to the street, and then they have two car site built garages that are attached to them via breezeway. So they look like your traditional ranch style home, but they're absolutely 100% mobile homes that could be moved if you wanted to move them, and for a fraction of the price of what a neighboring single family home might sell for. So there's all different qualities. They all come in different shapes and sizes. But to my point earlier, some of these communities, they're not even affordable. There's actually, there's down here in Florida, we've got what we call lifestyle communities. It's very common out in Arizona as well, where it's a lot of times a second home for snowbirds, you know, retirees that want to come down and want to live an active lifestyle. You know, they want to have two swimming pools. They want to have an activities director. They want to have, you know, shuffleboard and pickleball courts and tennis courts, and they want to live this lifestyle. And those units are anything but affordable. In fact, there's many. There's a community down the road for me that, you know, their lot rent is $1,200 a month, and so you factor that in with probably a house payment. And you know, you might be looking at 2000 to, you know, $2,300 a month, all in for the house and the lot rent. And so not necessarily in the affordable scheme of things, but they come in all shapes and sizes and again, unfortunately, we just get lumped into that bad bucket. It's unfortunate because I do think that we could really help start making a dent in this affordable housing crisis. I don't how it's going to happen any other way. I really don't, because we can't build affordable products at this point in time. It's not possible    Keith Weinhold  19:37   a posh an exclusive mobile home park there that you're referencing in Florida. As paradoxical as that sounds, tell us, Kevin, how that really works, because I know you help investors get in to mobile home parks. Does this mean an investor owns a full Park? Or I wouldn't imagine you're just doing it at the level where you just own one lot and then have One dweller pay you the lot rent. So tell us about how it works from the investor angle.    Kevin Bupp  20:05   We have fund structures that we typically roll out through sunrise capital investors and any one individual fund will own somewhere between nine to 13 somewhere, typically in that range, mobile home communities. These communities can range in size from maybe as small as 80 or 90 lots to the largest community we own at present time is 780 lots. And so it's quite large. I mean, the size of a small town. But essentially, investors come in and they own a based on their investment. They own a proportionate share of the various properties that are owned underneath that fund umbrella. And so one, an individual, might come with 100,000 and own a smaller proportion share than someone that comes in with a million dollars. But they are owners. They're absolute owners. They participate in the cash flow, they participate in the the upside, and they participate in the proceeds. When we have capital events, either cash out refinances or potential sale events.    Keith Weinhold  20:56   Tell us more about why it's so profitable. Why do mobile home park investors get excited,    Kevin Bupp  21:01   as with anything, Keith, you know, you got to buy it, right? And, you know, we look at a lot of deals, and a lot of deals don't pencil like, if we bought it for what they're asking, we would make money. We might lose money. And so the money's made on the buy, just like with any other type of real estate investment. But I think the one factor that really has allowed mobile home parks to be an attractive investment vehicle over the past, really, the last decade, it's grown the attention of lots of different private equity groups, institutional investors, that 15 years ago, they weren't in the space, and the biggest reason is a lot of these. It's a very fragmented niche, and so there was no consolidation that existed 10 years ago. There was really only two public traded companies outside that. It was mom and pops, mom and pops, that typically owned one, maybe sometimes two or three communities, but it was just a very fragmented niche. And what you find those fragmented niches that there's a lot of inefficiencies that exist in the operations. There's a lot of inefficiencies that exist with regards to utility management or managerial oversight within the community, or even keeping up with market rents. And so very often, we'll get into a community we just bought one at the end of last year, and right outside of Ann Arbor, you know, great sub market in Michigan. It's it literally has never traded hands. It was built back in the 80s by the gentleman we purchased it from. He was a subdivision developer, but he got into the manufactured housing space, so he built this, what looked like a subdivision, but it was mobile homes and and he basically owned it up until we acquired it last year, but gorgeous community, well maintained, needed some upgrades, different amenities that just were a little worn out and tired. But the biggest element within that community was that the market rents in the local area were roughly $800 a month. $800 a month for lot rent, and when we purchased it from him, the average lot rent throughout the community was $477 so there was a significant loss lease that exists. And we see this quite often with just over time they've owned it, free and clear, they go 567, years out, doing rent increases, and sooner or later, they find themselves in a situation where they are severely below the local market rents. And so there's typically a lot of loss, at least recapture, that we find going into these communities. Sometimes we'll also go in and we'll find there's a lot of waste with the water and sewer cost. It might not be billed back for usage to the residents, to where if you're not paying for something, sometimes you're abusing it. And a lot of times we can go in and put individual meters in and almost send entirely that savings down to the bottom line and find it as additional noi on our PNL. And so it's just inefficiency of operations, and again, quite common, given the mom and pop nature of this asset class. But it's very quickly becoming consolidated. Now it looks very different today than what it looked like as far as the ownership groups. When I go to an industry event 10 years ago, those other guys like us, and then a lot of mom and pops. Now it's, you know, the likes of reps from Blackstone and Carlisle group and and got lots of other institutional groups that are showing up there. So just it's very different world, and probably more akin to that of what the apartment sector looks like, as far as ownership groups and the consolidation that's happening.    Keith Weinhold  23:52   You're feeling more of that competition. Kevin and I are going to come back and talk about another, I suppose, real estate investment that has something to do with wheels, and that is investing in parking lots. I'm your host, Keith Weinhold   Keith Weinhold  24:07   if you're scrolling for quality real estate and finance info today, yeah, it can be a mess. You hit paywalls, pop ups, push alerts, Cookie banners. It's like the internet is playing defense against you. Not so fun. That's why it matters to get clean, free content that actually adds no hype value to your life. This is the golden age of quality email newsletters, and I write every word of ours myself. It's got a dash of humor. It's direct, and it gets to the point because even the word abbreviation is too long. My letter takes less than three minutes to read, and it leaves you feeling sharp and in the know about real estate investing, this is paradigm shifting material, and when you start the letter, you'll also get my one hour fast real estate video course, completely free as well. Now it's called the Don't quit your Daydream letter. It wires your mind for wealth, and it couldn't be simpler to get visit gre letter.com while it's fresh in your head, take a moment to do it now at gre letter.com Visit gre letter.com   Keith Weinhold  25:19   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 chailey Ridge personally. While it's on your mind, start at Ridge lending group.com that's Ridge lending group.com.   Ted Sutton  25:51   Hey, it's corporate directs Ted Sutton. Listen to get rich education with Keith Weinhold, and don't quit your Daydream.   Keith Weinhold  25:59   welcome back to get rich education. We're talking about two real estate investment niches with Kevin bump today, an expert in both mobile home park investing and in parking lot assets. And Kevin, I got to tell you, I am more skeptical about parking lot investing than I am about mobile home park investing, but you can probably help me with this. I think we know that. I mean, gosh, just historically, ever since Henry Ford did his thing. I mean, mass transit adoption is really slow in most US cities. But anymore, one needs to wonder, okay, can autonomous cars disrupt the parking model? A Robo taxi can just constantly stay on the road, dropping off and picking up passengers where, you know, some people foresee a day in the not too distant future that people won't even need to own cars. They'll sort of have a subscription to a car service, but now this is where your expertise is. So I'm sure you thought above and beyond that. So what are your thoughts there, just for the need for parking spaces?    Kevin Bupp  27:11   You make a valid point. I think the adoption of that, it's, I think it will be very different from market to market, say, the city, whereas, if you want to maybe look at one area. We have a parking garage today in downtown Phoenix, Arizona. Phoenix is very much a driving city. It's parsed out very far the public transit. It's not great there. And again, it's just it's a wider state, whereas, if you compare it to like a San Francisco, the adoption of Robo vehicles and robotaxis and things like that autonomous vehicles is much, much faster than that of a of a phoenix. But also San Francisco is much a much more consolidated marketplace as far as the urban core. And so for that reason, you know, we look at parking, it's got a there's a couple things also that feed into that. So I want to back up a little bit. One of the major changes that has been really playing out over the past 15 years within the parking sector is that building departments within now, I think it's over 100 cities across the country. Denver just announced last week that they're also adopting this policy. And that policy is that historically, if you were Keith, you're going to go on, hey, I want to build this in downtown. I want to go build this apartment complex, condo complex, mixed use property, whatever it might be. Historically, they would have required you, whether you wanted to or not. They would have made you put in a certain amount of parking per 1000 square feet, every municipality would have a formula. And what, what a lot of these cities realized a couple decades ago is that, based on their, you know, antiquated formulas, they had a surplus of parking available on a lot of these downtown areas. You know, it wasn't being used. And given the developer an opportunity and the choice to say, Hey, do I want to build 20 more parking spaces that aren't going to get used? Or I want to build want to build 10 more apartment units, they're going to choose the apartment units. And so the parking mem requirements have been taken away, have been eliminated in a lot of cities over the last decade plus. And so that's created a shrinking supply of parking because now when developers build something, they're building only as much as they need, sometimes not even as much as much as they really need, because then they can still rely upon other ancillary parking structures within the immediate marketplace. And so, so there's a shrinking supply of parking. And every city that we own in today there's a massive shrinking supply of parking. So that's big piece of it that we know that inevitably, if we get the location right, an area where literally, you wouldn't be able to afford, based on the cost of construction and the cost of lands, they wouldn't be able to afford even building new parking structure, if you so chose to. And now that there's also a shrinking supply, diminishing supply, of this parking that we can be comfortable in our demand for our product, and so to the point of like autonomous vehicles and things of that nature, I do think there will be a time. I don't know how long that time is. I do think that there will be a time where we'll see some sort of impact. I don't know what that is. And so how we underwrite deals is we feel very confident over the next 10 years. We have to have a absolute confidence level over the next 10 years that there's going to be continual demand based on the various factors within this marketplace, the demand drivers that are servicing that garage, like, who's parking there, why they're parking there. But second to that, when we. Buy something. We need to have the air rights. We know that there inevitably will be a higher and better use. So Location, location, location, it's got to make sense today as parking. We got the underwriting has to stand on its own as parking, and we have to have a comfort level that 10 years, there will be sufficient demand throughout the duration of the next decade, in the event things start changing down the road, we know that, literally, the lowest use that it could ever have is its present use, which is parking because it's just a concrete structure, sometimes just an asphalt parking lot, to where, once you go vertical, that's where you're going to be able to unlock a lot of additional potential. And so we don't underwrite the future. We look at that as icing on the cake. But we know, based on the the location, the proximity to, you know what else is happening in that marketplace, that location will be in demand, not just today, but many decades to come. So I'll stop there and see if you have any clarifying questions.   Keith Weinhold  30:51   I think about how for the parking lot investor, Jamie Dimon has been really good for you. He is so hard on the return to Office. Mandate?   Kevin Bupp  31:01   Yeah, I'd say one thing that's important to make note is, I don't know what the future holds for office I tend to make the argument that wherever picking office building in a marketplace, wherever they're at with occupancy today, I think it's probably as good as it's going to get. We don't have to go down that rabbit hole. But I just I feel like it's been long enough since covid. And don't get wrong, there's gonna be a few companies that are going to be pressed that are going to be pressing, you know, in a big way, to get people back, but I think 80% of them that we're going to go back are already there. And so any parking asset that we look at, if it's got more than 10 or 15% as far as relationship with an office building or multiple office buildings in immediate vicinity, then we typically pass on it. And on top of that, it's got to have a variety of demand drivers. So it just can't be supportive of one or two different demand drivers. We have have at least five. And so it can be a courthouse, municipal buildings, sports arenas. It's got to be a 24/7 city where there's something happening, 24 hours a day, seven days a week, hotel, valet, restaurants, retail, things like that. And office has to be a very minimal part of that makeup, or else we just move on, because I don't know how to fix it. How to fix that problem yet. I don't know what's going to you know what the future holds for your traditional office towers, especially the ones that are, you know, 50, 60% vacant at the present time? Yeah, that's interesting, because when you look at a parking lot and you're evaluating its potential and its current use, yeah, you're basically thinking about, what is that tenant mix. You don't want 100% of it to be for one office building. You would probably want a number of uses. That's correct. Yeah, absolutely. Again, like I said, Five is our minimum. I mean, the more the merrier. And I'd say another big piece of it, if we had to look at the different demand drivers and put a value or a hierarchy of what we feel, what are the highest priority demand drivers, transient is the best. I want to know that the folks that are coming there, there's enough attractions in immediate vicinity, and we need to know what those attractions are, and better understand those attractions. But there's a variety of attractions in the immediate vicinity to where it's going to continually attract transient parking. So it's not just it's not a reliance upon one thing. And so, for example, we just closed on a garage in historic Philadelphia, and so it's a block away from Liberty Bell, two blocks from Independence Hall, any of other museums. I mean, like it's it is we talk about location, location, location. It's there that part of Philadelphia has been in demand by tourism for hundreds of years, and I don't foresee that that changing anytime soon. And so 70% of the makeup of the traffic in that garage is made up of transient traffic, so folks that are visiting the various attractions and immediate vicinity. So even if one of those attractions went away, which most of them are historical, they're not going to go away. If one or two did, it still wouldn't have that significant of an impact on the parking demand.    Keith Weinhold  33:36   That's interesting. Okay, a transient customer, not one that's showing up and parking there every day to go to work. And yes, the Liberty Bell, Independence Hall, there's going to be a long term demand to see those sorts of things in person. So that's an interesting way to think about that. And Kevin, while we've been talking about parking, at least in my mind's eye, a lot of times, I've just been thinking about one paved at grade parking area, but we're talking about parking garages as well. Or what are some of the trade offs there between parking garages and an at grade parking lot?    Kevin Bupp  34:08   Yeah, I mean, at grade parking lot is, can't get any simpler than that. I mean, typically they're asphalt or sometimes just crushed gravel, but that's it. So as far as future capex requirements, there's not many, right? It's very, very minimal. Whereas a parking garage, especially if it's in a colder environment, where there's snow and you've got salt on the road, salt that's making its way up the concrete, seeping into the cracks, you've got structural rebar issues to worry about, things of that nature. So weather can take a major toll on parking structures if they're not maintained well. Whereas you know the worst that could happen the same weather, you know, the weather takes the same toll on these asphalt parking lots, but it really only equates to maybe a pothole that you have to fill in, and a parking structure could be deteriorated to the point of no return if it's been neglected long enough to where it might be unsafe, structurally where you know now you're you're getting condemned or shut down. So big considerations there, it's interesting. We Own, the one we own in Phoenix, the Phoenix, it's a desert. It's a desert climate. They get very little moisture. And that was that parking garage was built in the 60s, so very long time ago. It's the oldest thing we have in our portfolio, but it better condition has been preserved better than that of of a recent garage we purchased that was built in 1990 that's all the environment that's in. You know, there's really not much that can deteriorate concrete once in the desert.    Keith Weinhold  35:22   Was there any last thing on parking lot investing like something that gets an investor really interested in this asset class? What's really compelling and profitable about it?   Kevin Bupp  35:33    It's very technology driven business, and what we have found is a lot of these parking assets, of either they're owned by, you know, an individual investor, or if they happen to be owned by an institution, they've never been viewed as the primary investment vehicle. A lot of institutions that own parking garages, they happen to own them by default, because maybe they bought the two office towers years back, and it just happened to come with parking right? And so a lot of times, they've been somewhat neglected, like the PnL has been neglected. They haven't found ways to really extract all the value out of these parking facilities. And so very commonly, we'll go in and we'll find that the technology that's in place is 10 years old. And think about what a computer 10 years ago look like, right? Like it's you're not catching all the license plates. You're not able to log in and adjust pricing in a dynamic manner based on supply, demand factors. And so we can simply go in and just create a more efficient pricing model and find sometimes, you know, 10 15% of additional revenue just from doing those simple things, like literally a few $100,000 worth of upgrades and technology, we can add millions of dollars of value. There's other factors, you know, just simple things folks want to park in a not just clean and safe, but well lit. You know, they want to feel safe in lighting. And we'll find parking facilities that still have old halogen lights. Half of them are burnt out. If you start serving people, they're actually not parking there in the evenings. They're finding somewhere else to go because they don't feel safe. And so just going in and doing a revamp, you know, an upfit with LED lights, making it nice and bright, bright and clean and letting everyone feel safe, we'll find a instant increase in demand and Parkers in the later evening hours. So I mean just little simple operational tweaks that we can make that just have simply been overlooked for many, many years by the prior ownership groups.    Keith Weinhold  37:15   That's really interesting, that oftentimes the owner of a parking lot owns that parking lot as an afterthought, because they were in it to purchase the building that accompanies the parking lot. So it would make sense that when you focus on that parking lot, you could really add value and profitability to that lot. Well, Kevin, these have been interesting chats between mobile home park investing and parking lot assets. I think that the commonality here is that you the investor, are just owning a lot, and therefore the maintenance and hassles with these things are really low. This gives our audience an awful lot to think about. So Kevin, are there any last thoughts that you have about this space overall, and then please let us know how our audience can learn more.    Kevin Bupp  38:02   No additional thoughts. I don't believe I'd say that if you have an interest, if we've piqued your interest at all, we've written a number of white papers on both asset classes, both parking as well as mobile home parks. You can download all that for free on our website. Invest with sunrise.com We've got a number of other case studies on our website. We're pretty transparent. Well, what we buy, what we've owned, what we've exited out of. We'll go as far as providing appraisal reports and third parties and things like that on our website. So if you just want to get a sense of not just who we are, what we do, but just have a better understanding of the investment thesis behind parking and manufactured housing, there's tons of resources that you can download from the website.    Keith Weinhold  38:37   Well, that's a great way to learn more about Kevin, what he does, and then maybe even invest alongside him. Well, Kevin, it's been valuable and eye opening. It's been great to have you back on the show.    Kevin Bupp  38:46   Yeah, thanks for having me, Keith. Been a lot of fun, my friend. Good seeing you again.   Keith Weinhold  38:57   Yeah? Good stuff from Kevin there. The MHP space becoming more consolidated and corporatized too. You know, single family rentals are different from mobile home parks in that way. I mean, 90% of single family rentals are owned by small mom and pops, which means those people that own between just one and five properties, Kevin used the term loss to lease a few times. That phrase loss to lease being a real estate education show what that term means is really a lot like how it sounds. It is the potential income that a property owner misses out on because the actual rent collected is less than the current market rent. That's what loss to lease means. Though, I like the long term future of mobile home parks more than parking deals. You know, Kevin did, though, have some great answers for why he still likes parking. He focuses on a 10 year horizon. He. Looks for at least five use types for the parking. And then another great point is that in a lot of cases, the land that the parking occupies is its lowest use. So therefore, when they sell the parking area, they can get some nice exit income. That makes a lot of sense. And being two native Pennsylvanians like we are, I am familiar with that part of Philly that he's talking about. In fact, what's funny is that, in producing this show today, I guess cookies are doing their thing. This parking lot deal in Philly just appeared in my Instagram feed next week on the show, it'll be back to no guest. It's going to be all me, and you're going to hear some things that you wouldn't expect to hear Until then, I'm your host, Keith Weinhold, don't quit your Daydream.   Dolf Deroos  40:51   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. 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.   Unknown Speaker  41:19   The preceding program was brought to you by your home for wealth, building get richeducation.com

The sight of a crying woman can be a source of great distress for a man, which can motivate him to do all kinds of things he wouldn't ordinarily do in order to “make her feel better.” However, in most cases, there is typically nothing to be done. She can cry, and she is entitled to her feelings. This is dealing with an emotional woman. 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

A great deal of the unnecessary suffering on this planet arises from inappropriate identification, which leads to narcissistic injury. A way to prevent this from occurring is to consider the idea that you are a parking space. Rather than identifying with anything that resides there, you can see yourself as the container which holds what you temporarily have. This is how to suffer less. 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 #wisdom #selfimprovement

Specializirano državno tožilstvo je včeraj vložilo zahtevo za sodno preiskavo proti predsedniku vlade Robertu Golobu zaradi domnevnega nedopustnega vmešavanja v delo policije, kar premierju očita nekdanja notranja ministrica Tatjana Bobnar. Gre za novo poglavje zgodbe, ki traja že skoraj tri leta. Tatjana Bobnar je tožilstvo in komisijo za preprečevanje korupcije o domnevnih pritiskih obvestila, ko je bila še ministrica, policija je premierja kazensko ovadila pred nekaj manj kot letom; dva postopka proti njemu vodi tudi KPK, in to zaradi domnevnega vmešavanja v delo policije in afere Karigador. V oddaji tudi o tem: - Vladimir Putin: Nato je v vojni z Rusijo, Moskva pa namesto napadov na Evropo išče vrnitev k diplomaciji. - Izraelsko ravnanje proti človekoljubni flotilji pred Gazo sprožilo množične proteste po vsem svetu. V Italiji splošna stavka. - Celjski nogometaši konferenčno ligo začeli z zmago proti atenskemu AEK

What are the mistakes that an experienced GRE tutor sees people making over and over again? Matt Roy is a longtime dedicated GRE tutor with thousands of hours of tutoring experience, and the author of Achievable's GRE course. In this episode, Matt walks you through the 4 most common mistakes on the GRE Quant and how to avoid them. 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/?utm_source=podcast to try it for free.

Samyr Qureshi, Co-Founder and CEO of Knack, returns to the podcast to unpack how his team is reshaping peer tutoring into a powerful engine for student success and workforce readiness. With a tech-enabled, Uber-style platform, Knack empowers high-achieving students to tutor peers while building soft skills and resumes. Samyr and Dustin explore the evolution of tutoring in higher ed, the role of AI in academic support, and how innovative partnerships are driving equitable outcomes across the student lifecycle.This episode includes a sponsored question in partnership with Brian LeDuc, founder of Learning, Designed — a consulting practice and newsletter focused on helping higher ed institutions design more student-centered systems and strategies.You can subscribe to the newsletter here.Guest Name: Samyr Qureshi, Co-Founder and CEO, KnackGuest Social: LinkedInGuest Bio: Samyr Qureshi is the Founder & CEO of Knack, the leading peer-to-peer learning platform partnering with top campuses such as Georgia Tech, University of Florida, University of Utah, University of Connecticut, and dozens of others. Knack has raised $20M in venture capital, most recently closing their Series B, from investors like New Markets Venture Partners, Jeff Vinik (Tampa Bay Lightning NHL Team Owner), Precursor Ventures, ETS (creators of GRE), Chegg, ASU Enterprise Partners, and many other well-known education venture investors and corporations. Currently based in St. Petersburg, Florida, Samyr previously worked as an Account Executive in the Emerging Technology division at Gartner and also formerly served as an iOS Advisor at Apple.Samyr was born in Abu Dhabi, UAE, and immigrated to the US with his mother and sister at the age of seven. Landing in Florida, he grew up in the Tampa Bay area, enrolled in and served as Student Body President at St. Petersburg College while in high school, and ultimately went on to University of Florida earning a Bachelor's degree in Law & Criminology. Samyr has been named in Forbes 30 Under 30, honored as the Emerging Tech Leader of the Year by Tampa Bay Tech, has been featured in Tampa Bay Magazine's Top 10 Under 40, Pi Kappa Phi's Thirty under 30, and was also named in University of Florida's 40 Gator Alumni Under 40 in 2021. When he's not traveling, Samyr loves to play guitar, write music, and spend time outdoors. - - - -Connect With Our Host:Dustin Ramsdellhttps://www.linkedin.com/in/dustinramsdell/About The Enrollify Podcast Network:The Higher Ed Geek is a part of the Enrollify Podcast Network. If you like this podcast, chances are you'll like other Enrollify shows too!Enrollify is made possible by Element451 — The AI Workforce Platform for Higher Ed. Learn more at element451.com. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Pokvarjene, nedelujoče, neuporabne, zapuščene elektronske naprave. To so tako imenovani elektronski oz. e-odpadki. Gre za najhitreje rastočo skupino odpadkov v Evropski uniji, njihovo število se povečuje štirikrat hitreje, recikliramo pa jih manj kot 40 odstotkov. V sredinem Svetovalnem servisu bomo izpraznili tiste predale, ki so polni starih polnilcev, kablov in telefonov, ter strokovnjakinjo vprašali, kam z njimi? Sogovornica: Marinka Vovk, doktorica bioloških znanosti iz Okoljsko raziskovalnega zavoda.

»Jaz bi rabila, da bi eden prišel spat z mojo taščo.« Ta na videz nenavadna prošnja, izrečena sredi pogovora, je v resnici utelešenje globoke stiske, teže, obupa in nemoči svojcev, ki skrbijo za osebe z demenco. Tokrat smo v podkastu poskusili odgrniti zaveso z bolezni, ki ne prizadene le bolnika, ampak vso družino, prijatelje in skupnost. Demenca, pogosto opisana kot »nepričakovani gost, ki pride brez vabila in ostane preveč dolgo«, je mnogo več kot zgolj pozabljanje. Gre za krovni izraz za več kot sto bolezni, ki vplivajo na delovanje možganov, najpogostejša med njimi je Alzheimerjeva bolezen. Vpliva na mišljenje, vedenje in sposobnost opravljanja vsakodnevnih opravil. Čeprav je pogostejša po 65. letu, se lahko pojavi tudi prej. Tatjana Cvetko, zdravnica splošne medicine in predsednica društva Primorske spominčice, se je z demenco profesionalno srečala pred več kot dvema desetletjema. Takrat podpore praktično ni bilo. »In tako smo pravzaprav zastavili delo, ki še traja,« je povedala o nastanku skupine za samopomoč za svojce bolnikov z demenco. Iz te pobude je zraslo društvo Primorske spominčice, ki danes deluje v Izoli, Ilirski Bistrici, Postojni in Sežani, in kjer se svojci in strokovnjaki, pa tudi bolniki, redno srečujejo.Podpri Strašno hude. Vsaka donacija pomeni veliko. Ob vsaki bova tudi skočili do stropa. Obljubiva. To lahko storite tako, da kliknete tu.

V Anini galeriji v Rogaški Slatini bodo danes (sreda 1. oktober) ob 18h odprli razstavo Portretov Katarine Sílan in Jožeta Bartolja. Gre za razstavo likovnih del hčerke in očeta, ki je tudi urednik za kulturo na Radiu Ognjišče.

Po 35. letu starosti se lahko moški in ženske v Sloveniji v okviru zdravstvenega sistema odločijo za sterilizacijo. Gre za trajno obliko kontracepcije, postopek pa je – še posebno pri moških – razmeroma nezahteven, stranski učinki so redki. Vlogo za sterilizacijo mora odobriti posebna komisija, pred posegom pa ima vsak kandidat še 6 mesecev časa za razmislek. Več o samem posegu tako pri moških kot pri ženskah povemo v torkovem Svetovalnem servisu, ko bo z nami zdravnik Sašo Drobnič, dr. med., specialist ginekolog in porodničar z Ginekološke klinike UKC Ljubljana.

Zakaj je razstava Marjan Šorli in udomačena arhitektura, ki jo nocoj odpirajo v Muzeju za arhitekturo in oblikovanje (MAO), aktualna danes? Gre za prvo razstavo v novi seriji Predogled, s katero MAO svojo zbirko postopoma predstavlja javnosti. September letos zaznamuje 110-letnico rojstva in 50-letnico smrti arhitekta Marjana Šorlija – projektanta, pisca, misleca, predavatelja in izjemnega avtorja, ki ga je zgodovina arhitekture spregledala. Razstava ni zasnovana kot klasično kuriran pregled, temveč kot odprt komentar k raznolikemu gradivu, ki ga je muzej pravkar pridobil v svojo zbirko. Po besedah kustosov razstave, Martine Malešič in Andraža Keršiča, želi projekt spodbuditi razmislek o Šorlijevem delu in njegovem mestu v arhitekturni zgodovini

Imagine a world where your investments work smarter, not harder. Keith reveals the truth about why real estate trumps stocks, and how the current economic landscape is creating a once-in-a-generation wealth opportunity. Discover: Why traditional investing wisdom is leaving younger generations behind Why owning assets is the ultimate key to breaking free from economic uncertainty From the dying middle class to the rise of strategic real estate investing, Keith exposes the game-changing insights that most investors never see. Inflation is reshaping the economic landscape - and you can either ride the wave or get swept away Generation Z faces unprecedented economic challenges  Want to learn more? Your financial transformation starts here. Resources: Text FAMILY to 66866 Call 844-877-0888 Visit FreedomFamilyInvestments.com/GRE Show Notes: GetRichEducation.com/573 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:   Keith Weinhold  0:01   Welcome to GR, I'm your host. Keith Weinhold, talking about real estate versus stocks, how housing has been in a recession that could now be thawing. Then why the war on the young and the vanishing middle class threatens to get even worse today on get rich Education.    Keith Weinhold  0:19   You It's crazy that most people think they're playing it safe with their liquid money when they're actually losing savings accounts and bonds don't keep up when true inflation can eat six to 7% of your wealth. Every single year, I invest my liquidity with FFI freedom family investments and their flagship program with fixed 10 to 12% returns that have been predictable and paid quarterly. There's real world security. It's backed by needs based real estate like affordable housing, Senior Living and healthcare. Ask about the freedom flagship program when you speak to a freedom coach there. And here's what's cool. That's just one part of FF eyes family of products. They include workshops and special webinars, educational seminars designed to educate before you invest start with as little as 25k and finally, get your money working as hard as you do. It's easy to get started. Just grab your phone and text family. 266866, text the word family. 266866, that's family. 266866,   Corey Coates  1:37   you're listening to the show that has created more financial freedom than nearly any show in the world. This is get rich education.   Keith Weinhold  1:47   Welcome to GRE from Rocky Mount North Carolina to Mount Shasta, California and across 188 nations worldwide. I'm your host, Keith Weinhold, and you are inside for another wealth building week of get rich education. A lot of people have been building wealth lately. Do you even understand all the markets that are either at or near all time highs, real estate, stocks, gold, all recently hit those levels, also nested home equity positions of American property owners are at all time highs. Silver is also near an all time high, and so are FICO credit scores. All this means that the haves are in really good shape, and the have nots aren't more on that later. Let's then you and I talk about real estate versus stocks. I've invested in both for decades, and it's not something that I do on the side. This is the core of what I do and talk about with you every week. And I've never felt more inclined toward investing in real estate ever the resilience of residential real estate, a major reason is that I've always found real estate investing easier to understand than the s and p5 100, and it comes down to the mechanics of each one in The stock market, a company can be well run, it can be profitable, and it can even be growing, yet its stock price might fall anyway. Why? Because expectations weren't met for a quarterly earnings report, or investor sentiment just happened to shift for a while, people just tended to focus on the bad stuff instead of the good stuff, even though it was always there, and that's why the stock price went down. So what makes a stock move more often than not, is kind of laughable. It isn't a word sentiment, emotions. It's how investors collectively feel about a stock and that can change on a dime. One quarter's earnings miss an interest rate hike, geopolitical news or even a single social media comment from a CEO that can move billions of dollars of market value in an instant real estate, on the other hand, that strips away a lot of that noise and that ability for other people's emotions to ruin the price of your apartment building that cannot happen at its core, the value of a property is tied to its income stream and the market that It sits in, that makes it far more direct and way more controllable. If I buy a property, I can see the levers in front of me and ask my property manager to push or pull them or even do it myself. For example, I just asked them to replace flooring in three of my apartment units. With pricier luxury vinyl plank rather than new carpet, and that's because I plan to hold that building for another five years or more. I'll attract a better quality tenant that can afford to pay me more rent. So I know that if I improve operations and increase occupancy, reduce expenses or reposition the asset down the road. I mean, that is directly going to increase net operating income, and that increase will directly affect my valuation. So there's a logic to this that's almost mechanical, and that is not to say that real estate is without nuance or risk. The risk lies in execution. You have to underwrite carefully. Is the location of your property sustainable long term? Are the demographics supportive of Lent growth? What capital improvements are truly lucrative to you and provide the tenants with value, and what kind of improvements are only cosmetic? So real estate isn't just tangible, it's also something that you can interact with. You can walk a property, you can even speak to tenants, study the neighborhood and know exactly what you're dealing with. It's not a ticker symbol reacting to opaque forces that you'll never see or control, and for me, that tactile nature creates clarity. When you buy the right property in the right market with the right strategy, then the path forward is not mysterious. It isn't whimsical, it's deliberate. Real Estate is easier to understand than the S p5, 100. And that also doesn't mean that real estate is simple, because there is that due diligence and strategy, but it's the cause and effect relationship between what you do and the outcome that you get that's far more direct with stocks. You can be completely right about the fundamentals. I mean, you can nail it. You can Bullseye that stock target, and after all that, yet still lose with real estate. If you execute well, the fundamentals eventually do show up in the returns and see because of that direct cause and effect relationship, you can improve yourself as a real estate investor faster than a stock investor can, and that's because you can learn about how your upgrade drove your properties, noi, that information, that feedback that you got, that's something that you can either replicate again or improve upon in your own investor career. So between real estate and stocks, execution is the real differentiator, and control is a key one as well. To me, that sweet spot is control that I have. But through a property manager that way, control doesn't mean that you're losing your quality of life, your standard of living. Now, some people, they do, have the right handyman skills to maintain the property and the right people skills to maintain the tenants. So self managing it can work for just a few people. I sure don't have the handyman skills myself. Sheesh, if I even try to hang a picture on a wall, there's a 50% chance that it's going to end in a drywall patch job. When you can see the cause and effect between your decisions and the property's performance, it creates that level of control that stocks and bonds just don't offer. And I'm also being somewhat kind to stocks by discussing a benchmark like the s, p5, 100, even harder to control and understand are the Wall Street derivatives and financial mutations that the people invested in them don't even understand. Unlike stocks, you own, the levers you own, the operations, the expenses and the occupancy, both have risks, but real estate's risks are more perceptible, more knowable. You won't have to cringe when a company's CEO posts a tweet that's either pro Israel or pro Gaza. Billions of market cap is wiped out, and your investment goes down 12% in one hour. This is why we talk about real estate on the show. There is less speculation and conjecture. It is concrete stuff, and that's all besides how real estate pays you five ways at the same time, as if that wasn't enough.    Keith Weinhold  9:38   Now, when we talk about real estate investing in this decade, do you realize that we have been in a housing recession for two years? A recession in real estate? I mean, it might not feel like it with those home prices at erstwhile mentioned all time highs. We don't need to have falling prices to have a recession. Investors are obviously. Making money in this housing recession. The recession I'm talking about is the slowdown in housing activity stemming from less affordability, lower sales volume and less available inventory. But we do now have signs that we are breaking out of these housing doldrums. As far as affordability, national home prices are staying firm. But what's helping there is that mortgage rates have fallen, and we've also had wages that are rising faster than rents and wages that are rising faster than mortgage payments. In fact, wages have been rising faster than both of those for most of the last year now, and that's sourced by Freddie Mac Federal Reserve stats and rental listings on Redfin. Yes, year over year, American wages are up 4.1% rents are up 2.6% and mortgage payments are basically unchanged over the past year, up just two tenths of 1% and of course, these facts, combined with lower mortgage rates, all supports more real estate price growth. Now to kick off the show, I mentioned how real estate stocks and gold all recently hit all time highs. Well, that's denominated in perpetually based dollars, of course. However, one thing that affects you that certainly has not reached all time highs is the level of available homes, the number of homes for sale, that inventory is up off the recent bottom in 2022 yet it is still below pre pandemic levels. We have had quite a recovery here. National active listings definitely on the rise. They are up 21% between today and this time last year. Well, that means that buyers have gained leverage, mostly across the south, where lots of new building has occurred, and some areas of the West as well. Yet today, we are still, overall here 11% below 2019 inventory level. So nationally, we're basically still 11% below pre pandemic housing inventory levels. And in the Midwest and Northeast, the cupboard looks even more bare than that, since new construction totally hasn't kept up there, we will see what happens. But with the recent drop in mortgage rates, buyers might take more of that available inventory off the shelf. But here's the twist that I've heard practically no one else talk about no media source, no one in conversation. Nobody. It is the paucity of available starter homes. It's the entry level home segment that has the great scarcity, and it's these low cost properties that are the ones that make the best rental properties. Their paucity is jaw dropping, as sourced by the Census Bureau and Freddie Mac starter home construction in the US. I mean, it is just fallen precipitously. Are you even aware of the trend? All right, defined as a home of 1400 square feet or less, all right, that's what we're calling a starter home. Their share of new construction that was 40% back in 1982 Yeah, 40% of new built homes were starter homes. Then by the year 2000 it fell to just a 14% share, and today, only 9% of new built homes are starter homes, fewer than one in 10, and yet, that's exactly what America needs more of. So although overall housing inventory is still low, it's that entry level segment that is really chronically underserved, and that won't change anytime soon, we remain mired in a starter home slump because builders find it more profitable to build higher end homes and luxury homes. Yet for anyone that owns this workforce rental property, which is the same thing we've been focused on doing here on this show, from day one, you are sitting in an asset class that's going to remain stubbornly in demand over the long term. And when it comes to starter homes, the ones Investors love most, they are more scarce than bipartisan agreement in Congress, really. That is the takeaway here.    Keith Weinhold  14:39   So last week, I had an interesting in person meet up at a coffee shop with a 19 year old college student because he's a real estate enthusiast, rapping Gen Z there. He's an athlete too, an 800 meter runner. Well, his dad read Rich Dad, Poor Dad, and his dad has 60 rental properties. Where they're from in Wisconsin, and maybe you're wondering, oh, come on, what could I learn from this 19 year old? I don't think that way. Now, I told him about some foundational GRE principles like financially free, beats debt free and things like that. It was also insightful to get his take on how he sees the world, and for me to learn what his professors are teaching him about real estate investing in his classes, he talked about how his professors show them, for example, what affects apartment cap rates. Also about how, whenever they run the numbers on a property, it always works out better to get the debt, get that mortgage, and how that leverage increases total rates of return. I was really happy that he's learning that over there at the university, but I was really impressed how at age 19, he's responsible and understands so much about society, politics, investing, athletics and even diet. I mean, this guy is rare, talking about his preference for avoiding food cooked in seed oils and choosing beef tallow instead. He also lamented on how Generation Z is so screwed up, saying that no one reads, no one's having kids, no one can buy a home, no one's going to be able to buy a home, and that people his age are so used to looking at screens that they're anxious about in person interactions, even in person, food ordering from a waiter at a restaurant gives them anxiety. He and I are planning to go running together next week. We'll see how that goes. As a college 800 meter runner, he's going to have the speed advantage on me, but we're running up a steep, 40 minute long trail where I've got a shot at an endurance advantage. So it was rather interesting to get his take and see what college professors are teaching on real estate. I mean, this generation that's coming of age now, Gen Z is the worst generation since George Washington to have it worse off than their parents. I'm going to talk about that today, shortly. next week, on the show here, I plan to help you learn about what's going on with some real estate niches and what their future looks to be over the next 10 to 20 years, including mobile home park real estate and parking lot real estate, one of these asset classes I really don't like the future of That's all next week on the future of some certain real estate niches. Straight ahead today, I want to tell you about mortgage rates in a way that you've never thought about before and more about the war on the young and the vanishing middle class. I'm Keith Weinhold. There will only ever be one. Get rich education podcast episode 573, and you are listening to it.    Keith Weinhold  17:53   If you're scrolling for quality real estate and finance info today, yeah, it can be a mess. You hit paywalls, pop ups, push alerts, Cookie banners. It's like the internet is playing defense against you. Not so fun. That's why it matters to get clean, free content that actually adds no hype value to your life. This is the golden age of quality email newsletters, and I write every word of ours myself. It's got a dash of humor. It's direct, and it gets to the point, because even the word abbreviation is too long, my letter takes less than three minutes to read, and it leaves you feeling sharp. And in the know about real estate investing, this is paradigm shifting material, and when you start the letter, you'll also get my one hour fast real estate video course, completely free as well. It's called the Don't quit your Daydream letter. It wires your mind for wealth, and it couldn't be simpler to get visit gre letter.com while it's fresh in your head, take a moment to do it now at gre letter.com Visit gre letter.com    Keith Weinhold  19:06   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 prequel and even chat with President Chale Ridge personally. While it's on your mind, start at Ridge lendinggroup.com that's Ridge lendinggroup.com   Todd Drowlette  19:38   this is the star of the A E show the real estate commission, I'd roll that. Listen to get rich education with my friend Keith Weinhold, and don't quit your Daydream.   Speaker 1  19:49   Welcome back to. Get Rich Education. I'm your host. Keith Weinhold, as a reminder that show the real estate commission starring our friend Todd Drolet, who is a guest on the show here with us at the beginning of this month, it starts October 10, on A and E, that's that reality based commercial real estate show. Late last year, the Fed lowered interest rates, and they're doing the same thing again this year, when interest rates rise and fall, think of it like a wall that's being raised and lowered. Cutting rates is like lowering the height of a wall or a dam. That's because it allows for the free flow of capital. Savings rate accounts. Well, since they'll now pay at a lower rate with this rate cut, they're more likely to get shifted out and invested somewhere and flow into something else, driving up that other asset's value. Mortgages are more likely to originate because you pay less interest. Lowering rates lowers the impediment to the flow of money. It eases that flow. Oppositely, raising rates is like increasing the height of a wall or a dam, because if your savings account rate goes from 4% up to 5% oh well, you more likely to keep it parked there a higher wall or dam around your money, and raising rates makes your mortgage costs higher, so you're more likely to stay put and not move money around, constrained by the higher wall, that's how interest rates are like walls and lower walls also increase inflation, since they increase The flow of money, and hence the demand for goods and services. Well, then why did the Fed cut rates, lowering the wall opening the door for inflation this last time? Well, I think you know that was due to the evidence of a sputtering job market. You know that, if you follow this stuff, a slowing job market slows the flow of money, hence why they lowered the wall to increase the flow. Now this might translate to even lower mortgage rates. It does have that loose correlation anyway, and this should lift the housing market. But here's the real problem. Inflation is higher than the Fed wants already, and it's still rising, and they cut rates, making it more likely to rise further. This is like pouring gasoline on a campfire while yelling, don't worry. I got this sure the fire burns brighter, all right, but you might lose your eyebrows. The risk here is that these rate cuts will make inflation spike, since lower rates makes everyone less likely to save and more likely to borrow and spend, this pushes up prices even farther and faster, and this is the Fed's dangerous game. This is the crux about why the Fed is between a rock and a hard place. Ideally, the Fed only cuts of inflation is at or below their 2% target, but understand it hasn't even been there one time in nearly five years. Now, year over year, inflation was 2.7% last month and rose to 2.9% this month. The price of almost everything is up even faster than it usually goes up, beef, housing, haircuts, flamin hot, Cheetos, everything as we know this inflation that's now positioned to pick up again. However, for us, this is the long term engine that makes our real estate profitable. It makes it easier to raise rents, all while your principal and interest payment stays fixed. Inflation cannot touch that like a mosquito buzzing against a window, and let's be real, official inflation numbers are like Instagram filters. They are shaved down, touched up and airbrushed. The government massages them with tricks like hedonics, the wave of inflation that peaked at 9% in 2022 that has already widened the distance between the haves and the have nots, like the Grand Canyon, eviscerating so much of the middle class. And now the powers that be are setting up a scenario for another wave of elevated, long term inflation. This could get dire. Look like I was saying earlier the generation coming of age today is the first one since George Washington to have it worse off than their parents. Do You understand the profundity of this? They had the lowest home ownership rate, and they're the poorest, often leaving them directionless, anxious, depressed, drug addicted and even suicidal for. The first time in US history, Americans are on track to be poorer, sicker and lonelier than their parents. They will make even less than their parents did at the same age, and that's despite having a college degree. Inflation is a big reason for that, and that's what I help you solve here. I can't really help you with the depression stuff. That's not really my role with what I do here in the show. But inflation, in getting behind is one contributor to all these things. Understand, in 1989 those under age 40, they held 12% of household wealth. Today it's just 7% older Americans got rich, and they basically locked the gates behind them. Those over age 70 only held 19% of US wealth in 1989 now it's 30% Harvard's endowment has grown 500% since 1980 that's adjusting for inflation, but yet their class size hasn't grown. I mean, this is just more evidence that old money wins and young people are losing and cannot get ahead in 2019 the federal government spent eight times more per capita on seniors than they did kids. We all know that Gen Z is delaying marriage, home ownership and family formation in 1993 60% of 30 to 34 year olds had at least one child. Today, it's gone all the way down to 27% in about 30 years, that's fallen from 60% down to 27% this is not a resource problem. It's a values problem and an inflation problem, and also the tax code, values owning assets which older people have over labor, which younger people have. This is the crux of the war on the young and the war on those that don't own assets. You've got to wonder, is it even fixable? Some of it is, but no one really wants to fix inflation, and now they're lowering rates to open the door for even more of that widening that canyon, yes, the wave of inflation that started four to five years ago that broke down the middle class, and now it's set up to widen even more. I want to tell you what you can do about that shortly. But first, have you ever wondered, why do we even stratify upper, middle and lower class based on somebody's income? Why the income criterion, if you say that someone's upper class, everyone knows what that means. It means that you have a lot of wealth or income. But why is that the basis? Why do we classify it based on income? Well, it really started forming during the Industrial Revolution of the 1700s and 1800s that began in Great Britain. Before that, class distinctions were usually based on land ownership or nobility or occupation, for example, aristocrats versus peasants. But as industrial capitalism spread out of the UK, wages became the dominant way that people made a living. So tracking income, it sort of became this natural way to map out class. And then this notion spread in the 1800s and 1900s that was propelled through both economics and social science. You had thinkers like Karl Marx and Max Weber that were deeply concerned with class. Marx emphasized ownership of the means of production. You've probably heard that before, capitalists versus workers. But as societies modernized people in the world of both Economics and Psychology, they agreed that income was an easier dividing line than ownership alone. And then, starting last century, in the US, the 1900s income statistics, they became rather central in all of these policies that we make, like our tax system and poverty thresholds and qualifying for housing programs and even welfare benefits. See, they all rely on income bands. And over time, this normalized in our vernacular, these strata of upper middle and lower class sort of this income based shorthand that we use, throwing these terms around. So whether we like it or not, classes are based on your income level, and that's how it came into being. Well, with. A quick history lesson with the eroding of the middle class, with the war on the young. What can you actually do to make sure that you find yourself on the upper income side of it without falling to the lower side the lower class? Well, we know who the future financial losers are going to be. It is anyone not owning assets, and it's also savers clutching their dollars as those dollars quietly melt like ice cubes in July, right in their hand. Those are who the financial losers are going to be. Who are the winners going to be? It is asset owners riding the inflation wave, and the winners are also debtors who get to pay back tomorrow with cheaper dollars today, especially with that debt that you have outsourced to tenants. Here's the big takeaway, if you did not grab enough real assets during the last wave of inflation don't get left behind this time, because the longer you wait, the harder it is to jump aboard this moving train that keeps getting momentum and moving faster. The bottom line here is that at GRE we advocate for simply doing it all at once. Use debt to own real assets while inflation pushes up your rents. That's it, right. There it is. That's really the most concise way to orate the formula. Look in your mortgage loan documents. It does not say that you have to repay the mortgage loan in dollars or their equivalent. It only says you have to repay in dollars. That's your advantage. As dollars keep trending closer to worthless. To review what you've learned so far today, real estate is easier to understand and has more control than stocks. Housing has been in a recession, but there's more evidence that it is thawing, and a setup for more inflation has America poised to exacerbate the war on the young and widen the canyon between the haves and the have nots, and it threatens to get even wider as the middle class keeps vanishing and struggling.   Keith Weinhold  32:23   Now, if you like good free information, like with what I've been sharing with you today, and you find yourself doing a bit too much scrolling for quality written real estate and finance info. I mean, yeah, it can be a mess. It can be tough. If you want to get the good stuff, you hit paywalls and pop ups, and you get these push alerts and cookie banners. It's a little annoying. It's like the internet is playing defense against you. Not so fun, and that's why it matters to get good, clean, free content that actually adds no hype value to your life. This is the golden age of quality email newsletters. I've got one. I write every word of ours myself, and it's got a dash of humor, yet it's direct. And it gets to the point because, as I like to say, even the word abbreviation is too long. My letter takes less than three minutes to read, and it leaves you feeling sharp and in the know about real estate investing, this is the good stuff, the paradigm shifting material, the life changing material, you can get my letter free at gre letter.com Where else would you get the GRE letter? Greletter.com and along with the letter, you'll also get my one hour fast real estate video. Course, it's completely free as well, and it's not to try to upsell you to some paid course, there is no paid course, there's just nothing for sale, no strings attached, free value. It's called the Don't quit your Daydream letter. It wires your mind for wealth, and it couldn't be simpler to get as you know, I often like to part ways with something actionable for you, visit gre letter.com while it's fresh in your head, take a moment to do it now one last time it's gre letter.com until next week. I'm your host. Keith Weinhold, don't quit your Daydream.   Speaker 2  34:24   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  34:52   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 the current state of the MBA admissions season. This week, MIT / Sloan, Duke / Fuqua, CMU / Tepper, UVA / Darden, UCLA / Anderson, Emory / Goizueta, Georgetown / McDonough, Washington / Foster, Vanderbilt / Owen, Georgia Tech / Scheller, Maryland / Smith and Minnesota / Carlson have Round 1 application deadlines. Oxford / Said has its Stage 2 application deadline. Graham highlighted several upcoming events being hosted by Clear Admit in the upcoming months, including a Real Humans series, a deferred admissions series and a series focused on MBA programs in different regions of the United States. Graham also highlighted our next livestream AMA, scheduled for Tuesday, October 28; here's the link to Clear Admit's YouTube channel: https://bit.ly/cayoutubelive. Graham noted that two new business-related academic programs were announced last week: Wharton's MS in Quantitative Finance and Georgetown's MS in Business Analytics. Graham then noted two recently published admissions tips, focused on MBA interview etiquette and the role of letters of support. Graham discussed the recently published Real Humans series focused on NYU / Stern. This led to a brief discussion on GMAT preparation. We then discussed the Class of 2027 admissions profile from Wharton, within the context of class profiles from Anderson and Johnson. 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 strong international focus and can speak several languages. They have a super GRE score of 331. This week's second MBA candidate is a West Point graduate with a 2.76 GPA. We discussed potentials for mitigation, which might include retaking the GRE. They currently have a 321 GRE score. The final MBA candidate is from Pakistan and has a terrific GRE score of 335. They are working in energy sector consulting and looking to switch to a more health-care focused career. 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!

As a man, it is your job to convey sexual intent in the early stages of the courtship process, and this is done most effectively using non-verbal forms of communication. Today, I'm going to be describing – and demonstrating – “the look:” a way of looking at women that cultivates sexual tension without being creepy. Learn to speak with your eyes – as your mouth is better served for other things. 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 #attraction

When caught in the jaws of life, it is immensely useful to practice the art of surrender. In so many words, this is the art of waking up to the fact that your helplessness and powerlessness are nothing new. You've always ever been in the passenger seat – and that's okay. By practicing this art before you need it, you'll be better equipped to make use of it when the time comes. This is how to let go. 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 #peace #mentalhealth

Veliki pohod je eden od številnih filmov, ki so adaptacije romanov klasika žanra grozljivke Stephena Kinga. Ni nenavadno, da ga je režiral Francis Lawrence, režiser Iger prestola, ki sodijo v enak žanr. Film je postavljen v distopično avtoritarno Ameriko srede dvajsetega stoletja. Natančneje, v prepoznavno južnjaško pokrajino. ZDA so že dolgo časa v krizi. Zato vsako leto organizirajo tekmovanje, na katerem tekmujejo mladi moški oziroma fantje, tekmovanje v hoji. Prenos tekme vsako leto dvigne produktivnost in prispeva k rasti BDP. Pravila so preprosta: ves čas je treba ohranjati hitrost petih kilometrov na uro, ob vsakem zaostanku ali spremembi smeri hoje tekmovalec dobi določeno število opozoril, potem pa ga ustrelijo. Zmaga tisti, ki ostane najdlje. A če bi film gledali zgolj v luči avtoritarizma, bi mu naredili krivico. Literarna predloga je iz leta 1979, iz obdobja, ko se je zagnal neoliberalni cikel kapitalizma. Prijava na tekmovanje je prostovoljna, vendar se nanj prijavijo skoraj vsi fantje v generaciji. Demokracija ne vodi v svobodo, temveč v potrjevanje uradne ideologije. Tekmovanje je dogma in tekma, ki je prispodoba tržne tekme, določa vse odnose med tekmovalci, tudi prijateljske. V ospredju je odnos med svetlopoltim Cooperjem Hofferjem in temnopoltim Davidom Jonssonom. Vendar barva njune kože ni relevantna. Pomembno je le, da sta tekmovalca oziroma, v alegorični interpretaciji, delavca. Gre za železne zakone tekme oziroma trga, za hladno objektivnost. Sodelujejo pripadniki različnih ameriških »ras«. Filmu uspeva potujitev resničnosti prek spretnega odmerjanja novih informacij. Kar se na začetku zdi dokaj normalno, a malo srhljivo, se kasneje začne razkrivati kot popolnoma iracionalno in okrutno. Z učinkom šoka, značilnega za Kingovo pripovedništvo, nas film zbuja iz lastne ideologije. Vizualno je minimalističen in še posebej privlačen za slovenske gledalce. Zeleno ruralno okolje spominja na slovensko pokrajino in vzbuja aluzije na lastno kulturo pohodništva. Tudi ko karavana končno prispe v mesto, je to majhno, dokaj pusto in z evropsko arhitekturo. Ob poti pa so v obliki krajev in ljudi izpostavljeni simboli ameriškega popkulturnega imaginarija, ki predstavljajo njeno srhljivo zgodovino. Če trg določa vse medčloveške odnose, določa tudi njihov odnos do lepega in plemenitega, pa tudi izražanje altruizma ali sociopatije in upora. Gre za izvrstno študijo karakterjev in odpiranje bistvenih vprašanj eksistence prek historičnega pogleda. Omogočili so jo tudi mladi igralci, ki so svoje vloge odigrali prepričljivo. In kljub vsej distopičnosti bodo lahko pozorni gledalci v njem odkrili svetlo revolucionarno sporočilo s pomembnim obratom za naš čas.

Vprašanje obvezne božičnice še naprej buri duhove. Predvsem predstavniki gospodarskih združenj svarijo pred slabšanjem konkurenčnosti, nekateri grozijo z izstopom iz Ekonomsko socialnega sveta. Gre za politični predvolilni populizem? Je izplačilo tako imenovane 14-te plače v višini polovice minimalne plače izvedljivo in kakšne bi lahko bile posledice?

Na Opčinah pri Trstu so danes odprli prvo zamejsko regijsko pisarno Olimpijskega komiteja Slovenije – Združenja športnih zvez. Pisarna se nahaja v prostorih deželnega sedeža Združenja slovenskih športnih društev v Italiji. Odprtje predstavlja pomemben korak za slovensko skupnost v zamejstvu. Gre za nadaljevanje procesa, ki se je začel že decembra lani s podpisom ustanovne listine Zamejske športne koordinacije. Regijske pisarne bodo dobili še v Avstriji, na Madžarskem in na Hrvaškem. To bo okrepilo sodelovanje med matično domovino in zamejskimi športniki. Odprtja na Opčinah se je udeležila državna sekretarka na Uradu Vlade Republike Slovenije za Slovence v zamejstvu in po svetu Vesna Humar, ki je v svojem govoru poudarila, da je takšno dejanje »res revolucija«. To ni le besedno, to je konkretno sporočilo zamejcem, da so del narodnega prostora na vseh ravneh in v vseh pogledih.

Keith discusses the pros and cons of being a hands-on landlord versus hiring a property manager.  Self-management offers cost savings, quality control, and better tenant relationships but can be challenging due to tenant and contractor management.  Keep up with inflation and market trends, by using tools like Rent Finder.ai for market analysis.  Dani-Lynn Robison with Freedom Family Investments joins the conversation to highlight their recession-resilient real estate funds offering 8-16% returns, with options for liquidity and growth.  Resources: Visit freedomfamilyinvestments.com/gre to learn more about the investment opportunity or text FAMILY to 66866 to get more information about Freedom Family Investments' liquid investment options. Show Notes: GetRichEducation.com/572 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:   Keith Weinhold  0:01   welcome to GRE I'm your host. Keith Weinhold, being a hands on landlord versus professional property management. Which one is right for you? How often and how much should you raise the rent? Then learn how, rather than a landlord, to be a landlord and increase your income by becoming a real estate lender. Today on get rich education,   Speaker 1  0:28   since 2014 the powerful get rich education podcast has created more passive income for people than nearly any other show in the world. This show teaches you how to earn strong returns from passive real estate investing in the best markets without losing your time being a flipper or landlord. Show Host Keith Weinhold writes for both Forbes and Rich Dad advisors, and delivers a new show every week since 2014 there's been millions of listener downloads in 188 world nations. He has a list show guests and key top selling personal finance author Robert Kiyosaki, get rich education can be heard on every podcast platform, plus it has its own dedicated Apple and Android listener phone apps build wealth on the go with the get rich education podcast. Sign up now for the get rich education podcast, or visit get rich education.com   Corey Coates  1:13   You're listening to the show that has created more financial freedom than nearly any show in the world. This is get rich education.   Speaker 2  1:30   Welcome to GRE from Charleston, South Carolina to Charleston, West Virginia and across 188 nations worldwide. I'm Keith Weinhold, and you're listening to get rich education before we talk about, should you be your own landlord or not, and how often do you raise the rent? Let's get more personal. I want to get introspective with you with three questions, do you focus more on what you have or on what's missing? Yeah, and not just as an investor, but in your overall life. Do you focus more on what you have or on what's missing? As for me, it's what's missing, and that might be a shame. I'm definitely grateful for what I have, but probably not grateful enough if you also focus more on what's missing from your life rather than what you have. Maybe you need to be more grateful for what you've got too. But those like me that focus more on what's missing are often accomplishment driven people always trying striving for more. The second question is, do you focus more on your past, present or future. Now we all focus on all three, but which one do you focus on the most? For me, it's the present and then the future after that. The third question that you can ask yourself to learn more about yourself is, do you focus more on what's in your control or out of your control, I focus more on what's in my control. So there you go. Certain combinations of those questions can tell you a lot about yourself. For example, if you answered that, you're most focused on your future and what's out of your control, you could be setting yourself up for some sleepless nights. Oh, gosh, did I lock the car door or really, it's more like, Geez, how is that meeting really going to go tomorrow? I do some of that too fretting too much about the future for things outside your control that won't change your future one bit, but yet, ostensibly, that steals your peace of mind in the present. And I don't know who to attribute those questions to. Who originated them, but I heard Tony Robbins talking about them, and that helps you figure yourself out for some of what we're talking about here on today's show. I want to start off real basically here most first time real estate investors, they find themselves diving into the world of property management with zero experience and tons of uncertainty. You don't have to put management experience on a resume before you hire yourself to manage your own property. Self managing a rental property, it can be daunting in the beginning, but it also offers you some real benefits, like greater control and cost savings and some hands on learning. But self management comes with its own set of challenges, like tenant management and handling maintenance issues, so let's weigh some of those pros and cons of self landlording versus outsourcing it to a professional manager, there are about four key advantages to self managing. I think that most obvious one is the cost savings, because property management companies typically charge eight to 10% of the monthly. Rent amount for their services, along with an additional fee for placing a tenant or renewing a lease, and maybe even a fee for certain maintenance types. By self managing, you can then avoid these fees and keep more of the rental income for yourself and thereby making your investment more profitable. Say that your property is rented for $2,000 a month. That $200 management fee, because that's 10% Well, multiply that by 12, that's $2,400, a year, plus a typical leasing fee when a new tenant is placed is a half months rent. That's $1,000 in this case, now, you're probably not going to have a new tenant placed every single year, but if you did, then that's $3,400 annually to the manager in total, between the management fee and the leasing fee. Another advantage of DIY ing is quality control. Now, I think people that tend to be control freaks, oftentimes have to self manage, and they care a little too much. But when you self manage, you do have direct control over the maintenance and tenant selection and the overall condition of your property, and that is going to ensure that your investment is well maintained and that your tenants are satisfied. Property managers, they often manage multiple properties, so your rental might not get as much attention. And the most common, recurring issue that I hear from investors that use a professional management company is that they don't feel like their property is getting enough attention, or that the property manager doesn't really care that much about them after their contract is signed. And if you think that through, from the property management industry side, you know most managers, they're only making that 100 to 200 bucks of recurring revenue per month on each property they manage, and these are pretty thin margins overall. So in order to run a profitable business and pay their employees and cover their other business expenses, these property managers, they need to onboard hundreds of clients, and in turn, that's going to spread out their efforts pretty thin if you've only got a few properties with a manager. Well, their main priority sometimes ends up being their bigger clients. So the smaller you are, the further down the callback list you might be. But I'll tell you, even staying in touch with my professional managers a little bit, even the ones I only have a few properties with, I feel like I get what I need. A third advantage to managing yourself is better tenant relationships. You've got a level of control that allows you to build relationships with your residents that can lead to longer retention and less of that costly turnover, and having that direct communication that builds some trust, that builds some respect between you and your tenant, they appreciate a landlord like you is probably going to respond quickly to maintenance requests and the fact that you're approachable if an issue comes up, and also, by you being more involved in the tenant screening process, you can ensure that you select a pretty good tenant that's going to stay Long Term and really take care of your property. Another advantage to you self managing is that you do build some valuable skills. I mean, managing a property on your own that teaches you a big range of pretty versatile skills, from like handling maintenance and repairs to negotiating leases and just overall, managing your finances, these can be pretty helpful skills, not just for your rentals, but for your future business ventures. So really, those are some of the upsides of self management. Now, how about the flip side, the challenges of self managing your own rental property? Well, the problem is managing your tenants. I mean, some say that this whole discipline that's called Property Management ought to be called tenant management and handling tenant relations. That's one of the most critical aspects of being a self managing landlord. I mean, even if you try to build tenant relationships, mismanagement that can lead to vacancies or disputes or can even go into legal issues. So educating yourself on landlord tenant laws and best practices, that's pretty essential. If you want to head off problems, you've got proper tenant screening and addressing tenant concerns and ensuring that rent is paid on time. I mean, all that stuff's crucial. Most tenants are pretty reasonable, but you know, there are always going to be a few that will challenge your patients, and it really requires that you be tactful and professional to manage well, managing contractors. I mean, property maintenance, that's another key responsibility you have to. Fine and hire and coordinate contractors for repairs and upkeep and poor contractor management that could lead to cost overruns or really shoddy work and more, knowing how to negotiate contracts and oversee projects that's crucial to maintaining the tenant satisfaction and the overall quality of your property. Another downside of self management is handling emergencies, I mean plumbing leaks or electrical issues, that stuff could happen anytime. And as a self managing landlord, you might not always be available to respond immediately, which can lead to property damage or unhappy tenants. So self managers, they really need to be problem solvers. Self managing a rental property, things go fine 99 plus percent of the time, but it could get emotionally taxing, especially if those tenant relations become a problem. So you got to keep personal feelings out of it, that stuff can cloud your judgment and negatively impact your decisions. If you want to self manage, you've got to maintain professionalism and set clear boundaries and remain objective when you're dealing with tenants and property issues, so creating systems and processes help you minimize those emotionally driven decisions, and can help you ensure consistency in managing approach. And then there is that legal side you ought to keep up on that local area's landlord and tenant law. So in conclusion, on whether to be your own landlord or outsource it to professional management, while these challenges are pretty real, you should still be able to self manage your properties, even remotely, even across state lines or from 1000s of miles away. I mean, most of these worst case scenarios that you hear about, like a flood at 2am I mean that stuff just never happens. I mean, it's never happened to me, even if you don't have previous experience, you really can effectively manage your rental properties and see positive results when you got the right tools and the right mindset. And today's tech tools make remote management easier than it's ever been in human history. But any long time listener knows that I do not manage my own properties. My time is simply too valuable. As a frequent guest on the show here, Robert helm says life is too short for property management, I just feel a personal sense of freedom and autonomy and some headspace clearance by knowing that no tenant can contact me directly yet that my manager is taking care of them. I mean, it's just not worth doing it myself to get that last 2% toward perfection. When you buy in the most investor advantage areas, you should have enough margin to pay for a manager.    Keith Weinhold  13:03   All right, well, let's change topics now, and whether you self manage or you outsource it to a pro, you know, you've got to ask, how much and how often should landlords raise the rent? That is the question. Let's say you've crunched the numbers and expenses are climbing like they have these past few years, and the market is shifting and your rent hasn't changed. That really leaves you with one big question, Should you raise the rent? And should you raise it every year? And if you're new to landlording, it can kind of feel complicated. It could feel like if you raise the rent too much, you risk losing a great tenant if you raise it too little or not at all, and you might fall behind on costs then, or even undervalue your property if you don't keep your rents up there, because five plus unit property values are based on the rent, which goes into the NOI your net operating income. And really, this is one of the more common dilemmas that landlords face. But really, the good news is that there's a pretty clear way forward. So let me help you determine when a rent increase makes sense, and then figure out an amount that keeps your unit competitive. It keeps your rental income on track. Now some people, they actually believe that landlords are required to raise the rent every year and to a tenant, it might seem like that's what happens, but no, landlords are not required to raise the rent every year. They often choose to do so to keep up with inflation or stay competitive and high demand markets, and keep up with shifts in local rental trends, gradual, smaller increases can help you avoid the need for making larger jumps later, that stuff can surprise or frustrate your tenant. You want to go for those big rent jumps, but two. 19 tenancies. We've covered that part before. Now, some landlords prefer to keep rent steady, like when they have long term reliable tenants, or they're just focused on building equity over time, and they want to stay hands off, and don't really need the cash flow so much. Now, in a lot of cases, maintaining that same rent amount that sure can reduce your turnover in vacancy costs, those things are your biggest expenses, but often that is not the best approach in the long run, because you probably are a leveraged investor, meaning that you have a loan on the property. Well, then a rent increase that helps you out more than it does for the less educated, paid off free and clear property owner, because you can widen your delta faster. You widen your cash flow faster because your biggest expense, your principal and interest payment, stays fixed. Yes, you are getting leverage on both the asset value overall and the income. Yes, this is winning that third crown of GRE s inflation triple crown. So ultimately deciding how often to raise the rent, that really depends somewhat on your goals and also the condition of the rental. You got to factor in how satisfied you think that your tenant is. That's part of it, and the state of the market as well. Now, if you're unsure what the right rent price is for your area, there are increasingly sophisticated tools for helping you figure that out. Rent finder.ai, can help you. One of my property managers uses it. It's a really cool AI driven report that looks at 25 rent comparables in the area. Again, that tool is rent finder.ai.   Speaker 2  16:52   Now, when should landlords raise rent? Finding the right time to do this that helps you stay aligned with the market value all while supporting your financial goals. But there are also times where it might be smarter to hold off on hiking the rent. The most common times that you implement a rent increase are at least renewal. That's really the most common and appropriate time to raise the rent, provided that you give proper notice. You usually got to give 30 to 60 days notice. Another common time to raise the rent are after you make significant upgrades, like installing new appliances or renovating a kitchen or updating flooring. I mean, this is when it might be reasonable to adjust rent to reflect that added value. Another time is when overall market rents are rising, even if you haven't improved the unit or anything, because if rental prices in your area are up, well, then raising your rent helps keep your property in line with local rates. But you got to keep in mind that rent price increases require a well thought out strategy to avoid pushing away good tenants. Another time to increase the rent is to keep up with inflation and expenses over time, especially these last few years, we've all had higher operational costs like higher insurance, higher property taxes, higher maintenance costs. So even a small annual rent increase definitely helps offset those rising expenses, but you have got to avoid basing your rent price solely on operating expenses. When you do raise the rent for this reason, though, let the tenant know just which operating expense rose. That is going to help reduce tenant frustration. Now, on the flip side, there are times when keeping your rent steady could be the better choice, especially if you have a long term reliable tenant. I mean good tenants that pay on time and take care of the property. They are worth retaining, not all times, but sometimes avoiding that rent hike can help you maintain a good relationship. There another time to avoid it is when the rental market is soft. I mean, if there's more competition in your area, or high vacancy rates in your area, well then raising the rent could lead a tenant to look somewhere else, especially if there are vacant properties nearby that they could move into. Another time to not raise the rent is if the property hasn't changed, if you haven't made any of those improvements, sometimes a rent increase might not be justified, or obviously you don't want to raise the rent if you really, really want to avoid a vacancy. So keeping the rent the same might encourage them to renew. So factors to consider before raising the rent and how to calculate an appropriate increase if a unit is aging or needs repairs, raising the rent without improvement that could discourage renewals. So consider creating a value checklist to quantify certain improvements, like new apps. Appliances could be 25 to $50 a month in additional rent, or a renovated kitchen, $75 a month or new HVAC. That could be 30 to $50 a month. Think about neighborhood changes like gentrification or new schools or increased transportation access or nearby commercial development. I mean, all that stuff can raise demand, building a Whole Foods nearby, having a new office space with high wages nearby, that can increase your rent. Look at City Planning announcements and local news. You can help stay ahead of the trends that way, and if your neighborhood has seen a rise in new businesses or housing demand. I mean, that is justification for a moderate increase and a modest annual rent increase tied to inflation that can help offset your rise in costs. You can reference the CPI, yeah, the BLS. They don't just report national inflation, but they do this by region as well. Now, is there a limit to the amount of your rent increase? Well, depending on where your property is located, there might be legal limits to how much you can raise the rent, and they're typically defined by state and local rent control laws that can vary a lot across the US, in cities or states with rent control, or what's called rent stabilization, there are strict caps on how much you can raise the rent annually. And those caps, they're often based on the local CPI. They might range from 2% per year to 10% a year, depending on the area and if your rental property is in a place without rent control, well, then there might not be any legal limit on how much you can raise the rent really. That's sort of situation normal. So you do have to look at those local laws. Of course, here at GRE we recommend buying and owning properties outside of any rent control jurisdictions, which are often those places in big Northeastern cities or on the west coast where they have rent control. Well, your success as an investor, it has a lot to do with how much of your money you are leveraging, but funds that are leveraged into property that you own directly, they're not very liquid. Any prudent investor keeps a liquidity bucket of funds, and for me personally, I don't keep many of them in these online only savings accounts that might yield a 3% or 4% return today, because that is simply too low. What I do with my liquid funds is I get a return that's more than twice that amount. Where I am not the landlord, I'm the LEND Lord. Yes, l, e, n, d, lendlord, I'll tell you how to increase your income that way. That's next. I'm Keith Weinhold. You're listening to get rich education.    Keith Weinhold  23:03   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.    Keith Weinhold  23:34   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 66 866. To learn about freedom. Family investments, liquidity fund again. Text family to 66866,   Robert Kiyosaki  24:48   this is our rich dad. Poor Dad. Author Robert Kiyosaki, listen to get rich education with Keith Weinhold. Don't quit your Daydream.    Speaker 2  25:06   If you love the income from rentals but you don't like the vetting and the tracking and the tenant calls, this episode is for you. I've openly shared with you before that I don't keep much money in a savings account, since the returns are often lower than true inflation today, it's about where I invest my own funds that I want to keep fairly liquid yet get a strong return. We're talking to who owns and runs those very funds that I'm personally invested in. She co founded freedom family investments. They're a firm with over $50 million in assets under management, and they have a 100% track record of investor payouts to those investors that include me. After building her own wealth through real estate, she made it her mission to help investors create freedom, safety and peace of mind in their portfolios. She specializes in turning hands on real estate strategies like turnkey rentals into relatively passive, scalable income. It has real estate backed returns that get fairly high. You'll see how high today. She's got a great plain English approach and focus on recession resilient, needs based assets that have earned her repeat invitations to get rich, education and other top real estate shows she and her husband flip also co wrote a great book called Get real, which I have on my bookshelf. Hey, it's great to have you back on GRE Danny Lynn Robison   Dani-Lynn Robison  26:30   thank you so much, Keith. I'm so excited to be here   Speaker 2  26:33   Danni, We'll discuss rates of return for the investor shortly, but first, I think that any prudent investor asks about that foundation, what is the investment backed by? What are the underlying assets? Tell us about that.   Dani-Lynn Robison  26:48   So that's really important to me as well. And real estate is my love and passion. So this is a fund that is based on recession resilient needs based real estate. What that means is we're really focused on the needs over economies, down economies, no matter what is going on the market, is there demand? Is there enough demand that the cash flow is going to continue on? And so our asset classes inside this fund are multifamily housing and then senior housing build to rent and self storage. And by concentrating on all of those, we're just staying aligned with the fundamental needs of American families, which is why we're freedom family investments,   Keith Weinhold  27:26   right? Okay, so, yeah, pretty staid, stable underlying assets there, like you say, these are needs based items, items that people need. And tell us more about how the investment is structured for that investor, and these investors like me, looking for predictable, passive income.   Dani-Lynn Robison  27:46   This is something that's really important to me. I'm always talking to our investors and finding out what's important to them. What are they investing in right now? How do they feel about the market? What's important to them? And out of that has come every single fund or offering that we have created. And so what I love about this one is it combines a whole bunch of things all into one place. So this fund, the way it's structured, provides diversification, because as a private money lender, you are lending on one asset, so you're dependent on that one asset actually performing and being able to pay you back. Now, as you said at the beginning of the episode, we have a 100% payout track record, and that's because I think my very first episode with you was about private money lending, and I told this story about this duplex where we lost, I want to say, over $50,000 and I talked about the importance of investor relationships to me, and that long term relationship means more to me than anything else, because if you don't Have trust, then you don't have anything, you don't have a business, you don't have you can't grow long term. So even though we had lost so much money on that duplex and made a lot of mistakes, the investor got their full principal paid back. They got every penny of interest during the time that they were owed. And that Testament has happened over and over again, and it's also why I've always preached volume, because deals like that in real estate, it's going to happen in anybody who tells you otherwise just run, because there's going to be times where you peel back a wall and there's something you know big that you're going to have to take care of, and there's times when contractors aren't going to do what they say they're going to do, and it's going to go over budget. And because of that, volume is important. So if I'm doing 10 deals a month, and two of them go bad. I've got eight that do really, really great. So that's the diversification piece that is so important to me, and therefore also important to my investors. Because we've talked about that, we've talked about those conversations. So in the fund, being balanced and diversified across those four asset classes ensures that no matter where the market is and what we're investing in, some of them could be doing really good, while some of them may not be doing as good, and we're just evening out and protecting ourselves and our investors with that separate asset classes and multiple doors. Then the other thing about that I've heard loud and clear is liquidity. And you and I were talking about this right before we pressed record, and I. Always laughed, and I was like, liquidity and real estate just don't go together. So let me figure this out. And we worked with our attorneys and figured out different ways to provide liquidity to real estate investors while still protecting just the way everything was structured, because that promise and making sure that I'm always giving that money back to the investors and paying them on time every single time, was so important, we structured a fund that allows people to invest and then get their money back in a year if they want it, but if they don't, then they get to continue investing for a period of time. And so that marriage and balance has really been a win for us and for our investors. And so I'm really excited about this fund.   Keith Weinhold  30:37   Danny Lynn, it's a little sad before our chat today, we learned about another industry professional that offered a fund to investors, and that fund imploded, for lack of a better term, and you divulged with me that you're actually familiar with that fund and with that operator that offered it. And you know you talked about how there were really some red flags, some warning signs, there, you have third party eyes on your fund for its lifespan, from beginning to end and here in the present. And the other thing is that you invest the funds in your own businesses, so you have more control over that when you talk about these four different asset types that you're involved in. So can you talk to us about that?   Dani-Lynn Robison  31:25   I've been in the room with him. I don't know him personally. We're not friends or anything, but I know him, and I know what happened as that fund progressed. And when I looked at the fund structure, I love the promissory note idea, because it's simple to understand. There's a warren buffett quote I love talking about that you shouldn't invest in something you don't understand. And I believe in simplicity. I believe in making sure that you understand exactly what you're getting into when you're putting your money on the line. And in that particular fund, it was very hard to understand the assets that you're investing in. And so it was a lot of businesses I would view them as high risk. I felt like even the monthly distributions were a little risky as well, because sometimes you just don't know if the money is going to be coming in. You know, you might be in a building phase where you actually need the capital to work on and grow and improve the business or the real estate. And so we always structure things in a way that we do two tiers. There's an income track and there's a growth track to allow us to balance everything out and be able to give the investors a lower rate of return if they want income, and a higher rate of return if they want growth, because that higher rate of return we can do that because they are allowing us to use that capital to be able to work on properties, to work on businesses have that growth trajectory, and when it comes to our businesses, I'm glad you brought that up, because he did invest in businesses, and I don't historically do that. I love real estate, but I do invest in my own businesses, because I know me. I know my character, I know my track record. I know what I promise I'm going to do, no matter how hard it is. I'm going to make sure that I fulfill those promises. And so if I have like, ownership and direct control of everything, I feel very confident in my ability to move forward. And that's really where the masternote program comes in, we now call it freedom notes, because we just love freedom so much we're just rebranding everything. So the freedom note program really does help us invest in businesses as we're growing, and it's our own businesses so super excited about that opportunity. Structured the exact same way as the flagship fund.   Keith Weinhold  33:16   You use the term promissory note there, just so that no investor is left behind. What is a promissory note?   Dani-Lynn Robison  33:23   A promissory note is really like an IOU. So I always like to compare it to bank loans. Whenever our private money lenders would come and talk to us about private money lending, and they'd say, can you explain this to me? I'd say your Bank of America like you're the one with the lien on the property, so you're in first lien position, and so if something goes wrong, then you have the ability to foreclose and get that property back. So promissory notes, essentially is a loan to this fund, and this fund is then going to use that money to purchase or acquire or invest in or do recapitalizations of those projects that we talked about. So in the flagship fund, those four asset classes, masternodes, so the freedom notes also invest in those same asset classes, but they also invest in the businesses as well.   Keith Weinhold  34:09   So we're talking about predictable passive income for the investor here, about as close to passive as it gets, hands off management. You've got the professional underwriting, the servicing and the reporting done by a third party you actually use invest next, that's the third party company that administers this. Tell us more about the investor qualifications, about the minimum investment amount and accredited versus non accredited. Tell us about that.   Dani-Lynn Robison  34:38   We have programs for both non accredited and accredited investors, and like I said, they're set up structurally very, very similar, but they are it's has to be SEC compliant, right? So for the non accredited investors, it is the freedom note program, and it's set up so your funds are in a separate bank account all by itself. It's fully tracked that way by our accounting team. And you can always go in and say, Hey, can you guys tell me where my funds are placed? And we can always track that information. So it's a little bit more work on our part, but it does allow non accredited investors to participate in something until they have the opportunity to reach a point where they do meet that accredited status and they can participate in the fund. And then the fund is the accredited vehicle. It's a 506, C, again, fully it's a Regulation D, fully vetted by our attorney. They're just actually finishing the documents right now. I didn't tell you before this, but you're actually the very first group that we're like talking to this about. And I told you how much I love our relationship and how long we've known each other, and how I just want to do more things with you. And so we're like, this is perfect that we get to actually launch it to Keith's group first. So we're excited about that as well. And then you talked about invest next. This is the piece that I think is important to me, no matter who you invest in, is what is their financial transparency look like? How are in the investments tracked? Where are the funds? Who is looking at those funds. So not only are we tracking all of the funds in house, but our CPA has to look at the funds and what's happening there. And originally we had nav, which is a fund manager. Now we've moved over to our invest next, and it probably took us six months to get onboarded with them, because of all the compliance pieces required for a company like that to bring you on board. So I just think that's one of the important pieces that makes me feel safe, because I want a bunch of eyes on the financials, and it makes our investors feel safe as well.   Keith Weinhold  36:31   For those wondering why I invest my funds here, yes, you've got that third party auditing, like you've mentioned, and you're investing only in your own businesses, so you have control. That's a big part of what makes me feel good. Well, let's talk about the fun part. Danny, tell us about those rates of return and the liquidity.   Dani-Lynn Robison  36:50   The rates of return are anywhere from eight to 14% but the 14% can go up to 16% because there's a 2% bonus upon maturity, and that eight to 16% is in two series. So there's an income series and there's a growth series. The income series is what appeals to investors who want those quarterly distributions and who want the passive income and cash flow. And so that particular series is anywhere from eight to 10% and again, depending on how much you invest, there's a 2% bonus in that series, and then the growth series is even higher. And the reason that is is because these are the long term investors who are looking to really accelerate growth in their portfolio. And that allows us peace of mind that we've got capital to be able to use for the renovations, for whatever is needed, depending on the market and how the cycles are going. As I said before, real estate is illiquid, and you have to structure and balance things based on that. And the growth series is a win for the investors, because compounding on, let me see, it's 10 to 14% returns, plus, depending on how much you invest, there's a 2% bonus that compounding adds up fast. We've done math for our investors are like, Oh my gosh, I'm never moving my money. I love this. They just love to see the growth trajectory. It's a win for us, too, because we get to use that capital as needed in order to ensure that we've got successful investments at the end of the day.   Keith Weinhold  38:21   Okay, so the income series has eight to 10% returns based on how much you invest, that pays out quarterly. And then the growth series that has those higher rates of return, up to 14 even 16% where the payout is made at the end, and how long is one waiting until the end? I know it sounds like most people want to continue that compounding and roll it forward, but what does the end look like for the groceries fund?   Dani-Lynn Robison  38:47   Yeah, I'm glad you asked that. So that's the liquidity piece, and that's the thing that we went back and forth with our attorneys about, because real estate is naturally illiquid, and so what we did is it's a recurring annual renewal. So it's an auto renewal, meaning that every single year you have the opportunity to say, Hey, Danny, hey freedom, I would like to go ahead and give you notice that I would like to get my funds back. And so that gives us enough notice be able to plan for those funds to come back to you principal plus interest. And then every year, if you choose not to ask for your funds back, it auto renews for a total of five years. I believe it is. You'll have to look at the documents just to confirm everything that I'm saying, because what I'm speaking to is our freedom note program, which is what this was built off of, because it was so popular. When given investment opportunities, everybody was just like, I want to go into those freedom notes. I like those because it gave them peace of mind, the ability to take out their cash if they needed it, but allowed for a compound or fast growth and a long term investment if they felt that was right as well.   Keith Weinhold  39:47   Okay, this freedom note program either the income series or the growth series, but we're talking about rates of return here. What's interesting is we're in a period where federal funds rate drops are. Anticipated when that happens, the return on your savings account does fall by that amount. However, these funds don't. That is correct. Yes, we're talking about, again, these funds that are backed by needs based real estate, like senior housing, workforce apartments and self storage demand that stays steady, even in downturns. And I know that you have an investor story as well. Tell us about that.   Dani-Lynn Robison  40:28   Yeah. So we have so many investor stories, and you can actually see the videos and audios on our website, and I encourage you to go check them out. But we like to call this investor story Jane, because we've heard the story so often that we call her Jane. So this is really the investors who have been investing with us as private money lenders and turnkey investors. And there they realize that number one, the in and out of investments. As a private money lender means that they always have this capital sitting and earning nothing at some point in time. And the turnkey investors, they think it's passive. And then they realize, oh gosh, there are tenant issues. I do have to, you know, manage this, the property management company. I do have to double check all the financials. I do have to approve a tenant or approve repairs, and it ends up being a little bit more work, and sometimes a lot more work than they ever anticipated. Those investors in particular, are the ones that love working with us the most, because suddenly what they thought was freedom going into the investment opportunity turned out to be a little bit different than they anticipated. And so they're like, I'm so thankful to finally, you know, be in an investment with a company that I trust, but that can be there, give me liquidity options, give me a good return, but it's 100% passive. So we call that investor Jane, because we just hear this story over and over and over    Speaker 2  41:45   before I ask about how our listeners can learn more about this, if it might interest them. Is there any last thing that you want to tell the audience? Maybe something that I didn't think about asking you?   Dani-Lynn Robison  41:57   That's a great question. The here's the thing that I always like to say, when you're investing with somebody, I think it's important to ask about the worst thing that's happened, what they did, how their investor was treated, what was the financial outcome? I think those questions are people don't think to ask that. Like, when you get on the phone with somebody, everybody's gonna tell you the rosy stories and all the good things, and this is why you should invest. And they're not going to go down the road of like, what happened, like, what are the bad things? Because every business and every real estate investor experiences bad things. So finding out the character of the person, I think, is how you find out is by asking what happened in that worst case scenario. So I think that's a really great question to ask, and you can ask us anytime I transparently tell my horror stories all the time, and just always in saying how important our long term investors are with us.   Keith Weinhold  42:46   It's just like the title of your book. Get real. If you don't have a messy story to tell, you probably haven't been in business for very long. Are there any fees in order for one to get started?   Dani-Lynn Robison  42:58   No, there are no fees. That's another investor feedback piece is the confusion. It's like they want to invest, but they're so confused by investment opportunities and what they're really making. So when you invest with us, the return that we tell you you're going to get is actually the return that you're going to get. So whether it's, you know, 8% 9% 10% whatever that is, that's the return you'll get. If there's any fees in, uh, within the fund itself, there's none in the freedom notes program. If there's any fees within the fund itself, it comes from the actual underlying properties, not from investor returns.   Keith Weinhold  43:31   Well, it doesn't take very much documentation in order to get started. This could really help you make more of the funds that you want to keep more liquid as fast as 90 day liquidity. Danny, tell our audience how they can get started, and if they just want to learn more about this to see if it's right for them,   Dani-Lynn Robison  43:50   we have done something super special this time. I think I've been on your podcast probably four or five times. Now this time, I'm going to tell you to go to freedom, family investments.com. Forward, slash, G, R, E, so it stands for get rich, education, so freedom, family, investments.com. Forward, slash GRE, what we've done this time is we're really tailoring what we do to Keith, because this relationship has just been such a great relationship we've had over time that we want to make sure that the investors that come in from your audience are just they rise to the top for our Investor Relations team so that anything that you need, we're just right there for you. We've got an investor concierge, and we're just doing as much as possible to make sure that you guys are prioritized.   Speaker 2  44:30   Yeah, feel free to let them know that you learned about this through me, you'll get the VIP treatment. Danny, thanks for being such a responsible custodian of my own funds. For years, it's been great having you back on the show.    Dani-Lynn Robison  44:42   Thank you so much, Keith.   Keith Weinhold  44:50   Look the key to most anything in business or investing is for you to provide something that's of value to someone. Else. Look for something that makes somebody else money, and then go get a piece of that for yourself. And because this is where I park my own funds for liquidity, I do need something that I can count on, recession resilient needs based real estate assets that people rely on in every economic cycle. So this is backed by, frankly, pretty plain things, with durable demand, limited supply and strong demographic tailwinds. And again, those four underlying assets are multifamily housing, senior housing, build to rent, which are new single family rental communities and self storage, which is something proven to hold up even in recessions. And what makes these funds from Freedom family investments different is that, like we said, they have third party financial eyes on them, and the control is there because the funds are invested in their own companies, and now there's no such thing as a zero risk investment or even a 100% passive investment, but this is about as close to real estate passivity as you can get. There's more of that than there is with direct ownership of turnkey real estate, they'd surveyed investors to find out what they want. That's why you can choose from again, Freedom family investments either their income series, which has eight to 10% returns, but it can be up to 12% at higher investment amounts, you get quarterly distributions, or their other is their growth series, 10 to 14% returns, but it can be up to 16% at higher investment amounts, with the option to have your funds back annually. These are fixed rates of return and a declining interest rate environment like we're in now. Cannot touch those rates of return, I think, for someone that's not in real estate and doesn't understand how real estate pays, five ways, they might find it unusual that an investment can reliably return more than 10% like this. But those that are initiated, they get it. It's pretty simple. I mean, you are going to increase your income $10,000 per year if you invest 100k at a 10% return. If you'd like to learn more and see if it's right for you, it's been made pretty easy. You can do that one of two ways. Text family to 66 866, just text the word family to 66866, yes. This is how you can, rather than a landlord, be a lend Lord with the liquid component of your investments. So you can learn more about freedom family investments, just visit freedom family investments.com/gre. That's freedom, family investments.com/gre, until next week, I'm your host. Keith Weinhold, don't quit your Daydream.   Speaker 3  48:13   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  48:37   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'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,   Speaker 2  49:53   The preceding program was brought to you by your home  

In this week's MBA Admissions podcast we began by discussing the upcoming MBA admissions season. This week, Dartmouth / Tuck, IESE and Imperial Business School have their Round 1 application deadlines; Duke / Fuqua is scheduled to release its interview invites for its Early Action Round. Graham noted that our second livestream AMA is scheduled for this Tuesday on YouTube; here's the link to Clear Admit's YouTube channel: https://bit.ly/cayoutubelive.  Graham then highlighted the ongoing September series of admissions events. The third session is on Wednesday, and includes Berkeley / Haas, INSEAD, London Business School, Michigan / Ross and UNC / Kenan / Flagler. Signups for this series are here: https://bit.ly/cainsidemba We then had a detailed discussion on the recently released 2025-26 MBA rankings from LinkedIn and Bloomberg / Business Week. Graham noted two recently published MBA admissions-related tips that focus on completing the business school application data forms, and whether it is advisable to skip the GMAT or GRE and seek a test waiver.  We continued our series of profiling star MBA professors. This week we feature two professors from Columbia Business School and Northwestern / Kellogg. We then discussed our first student-focused Real Humans for this season, from UNC / Kenan Flagler. Finally, we had our first class profile to review, from the Duke / Fuqua Class of 2027. For this week, for the candidate profile review portion of the show, Alex selected three ApplyWire entries: This week's first MBA admissions candidate graduated from the Naval Academy and was a division 1 athlete. They appear to have a very decent career in the navy. Unfortunately, they have a low GPA and a modest GRE score. This week's second MBA candidate is from Mexico and targeting Dartmouth / Tuck and several Canada-based programs. They are a chemical engineer graduate with several years of business experience. The final MBA candidate has recently had a fourteen-month break from work. They also want to waive the GMAT. They do appear to have strong prior experience and academics, but we caution against the waiver. 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!

Mark my words. AI relationships will be commonplace by the end of this decade, and these agents will soon constitute the sexual marketplace's most threatening competition. Given that most relational needs are psychological, the mind does not need ontologically objective means to satisfy them. And AI agents will likely create less unnecessary suffering and relational chaos than other relational alternatives to unmet needs. Like it or not, this is the future of dating. 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 #ai #dating

The Pinocchio story teaches us that men might have to pass through a trial to become fully human. Similarly, women might have to go through an ordeal of their own in order to attain to their full humanity. I call this the Scarlett effect, as it is exemplified in the character arc of Margaret Mitchell's Scarlett O'Hara. Only when broken by life does Scarlett become fully human. This is the process of becoming a real woman. 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 #selfimprovement

V tokratni Intelekti odpiramo občutljivo in vse bolj perečo temo: zakaj vojska vstopa v osnovne šole in se v javnem prostoru predstavlja kot privlačna karierna možnost. Gre za nedolžno predstavitev poklica ali za prikrito obliko militarizacije družbe? Ali otroci, stari komaj 12 ali 13 let, sploh lahko kritično razumejo, kaj pomeni služenje vojski? Ali je šolski prostor še prostor kritičnega mišljenja, dialoga in vzgoje za mir? Z nami bodo filozof Tadej Troha s Filozofskega inštituta ZRC SAZU, sociolog Gorazd Kovačič s Filozofske fakultete in strokovnjak za teorijo vzgoje Robi Kroflič s Filozofske fakultete v Ljubljani. Oddajo pripravlja Miha Žorž.

V časih, ko se cvet naše predstavniške demokracije obklada z »gnoji od človeka« in se primerja s Hitlerjem, razumnega mika, da bi se obrnil na drugo stran in dremal dalje; a kaj ko je ugovor vesti močnejši od predmestne pritlehnosti. Tako se danes sprašujemo: »Kako je mogoče, da so se polizdelki tipa Zvonko Černač pojavili na tržišču?« In še naprej: »Kako je mogoče, da jim je dan privilegij javne besede.« Odgovor smo, presenetljivo, našli pri Mozartu. Vemo, da bi bil za raziskati to temo najprimernejši nenadkriljivi Marjan Jerman, a žal ga ni več med nami – tako moramo v naši skromni oddaji ugrizniti v gnilo jabolko slovenskih medsosedskih odnosov.  Zadnje čase se je namreč med žive meje, veje hrušk, ki segajo čez mejo, barve fasad in vojne dovoznih poti, čiščenja skupnih vhodov, prenove kopalnic in kar je podobnih medsosedskih tragedij, vrinil nov element. Wolfgang Amadeus Mozart. Oziroma otroci, ali pač zreli ljubitelji  glasbe, ki vadijo njegove etude, skladbice, sonatine ali sonate. Bog ne daj koncerte. Kot nam sporočajo v medijih, policija prejema vse več prijav zaradi hrupa, ker sosedje vadijo instrument. Skoraj praviloma gre za klasično glasbo, v mnogih primerih za v glasbenih šolah šolajočo se mladino. In na tem mestu potegnemo črto. Najbolj očitna točka, ki jo samo ošinemo, tako zelo je prezentna, je dejstvo, da je ukvarjanje z lepimi umetnostmi eden zadnjih branikov, ki današnjo mladež še drži na strani razuma. Histerija družbenih omrežij in računalniških iger je po podatkih že dosegla pandemične razsežnosti in mnoge države, ki so pri vzgoji mladine praviloma okretne kot čezoceanska ladja, so začele sprejemati prve ukrepe, da bi zamejile škodljive posledice strmenja v zaslone. Igranje instrumenta oziroma ukvarjanje z glasbo, ki je imela na zgodovino mladinskih gibanj v zadnjih dveh stoletjih neizmeren vpliv, je eno zadnjih sider normalnosti v tem podivjanem svetu. In potem se tem veličastnim mehanizmom, ki so sooblikovali civilizacijo, upre miselnost slovenske soseske. Da hrup, ki prihaja iz sosednjega stanovanja, ali hiše, ali parcele, moti njen mir. Na državo ni računati. Država je nekje v svojem drobovju nekoč spisala zakone o hrupu in njegova svetost decibel je vladar tega vesolja. Ni pomembno, ali gre za Mozarta, za nočno rajanje, ali za mopede pod oknom – usodo velikanov klasične glasbe odrejajo decibeli. Zato ima država po neki bizarni logiki pravico, da ostarelo profesorico klavirja oglobi, ker je igrala Mozarta. V smeri, da bi država zaščitila ljudi, ki se ukvarjajo z glasbo, torej ne moremo naprej. Tako nam ostane le še spekulacija, z mnogo vegave teorije. Gre pa tako. Posameznik v sedemdesetih kvadratih svojega dvosobja zahteva pravico do miru. Do tišine in spokoja. Ker ko je zastavil svojo dušo pri banki, si ni kupil le stanovanja, temveč si je tudi zagotovil popolno izolacijo od vsega ostalega. Razen veselic v istrskem kampu Slovenec v stanovanju noče imeti nobenih stikov s komerkoli in s čimerkoli. Mozart v sosednjem stanovanju je tako neposredna grožnja njegovi osnovni pravici do miru. In ta pravica se nato upre pravici božanskega Wolfganga, da je igran! Zadeva je namreč ta, da so rezultati genialnih umov tista kolesca, ki poganjajo voz civilizacije naprej. Mozartova glasba je rojena za to, da se igra. Ves čas in nihče je nima pravice omejevati. Omejevanje je podobno bedasto, kot če bi omejevali posledice Teslovega genija in bi ostali brez elektrike! Tako imamo spopad na eni strani slovenskega sosedskega hohštapleraja in na drugi strani enega temeljnih gradnikov civilizacije. Zakon, kar nas v končnih posledicah pripelje do anomalij Zvonka Černača, daje prav pravici do zasebnosti, tišine in miru. Za zdaj. Svet bo brez dvoma boljši, ko bodo po zakonu imeli prav glasbeniki, umetniki in šolajoča se mladina; ljubitelji klasične glasbe in ostarele profesorice klavirja. Do takrat pa le še  predlog, ki smo ga našli v mučilnih tehnikah starega Vzhoda. Dajmo ljudi, ki jih moti hrup glasbenih instrumentov, zapreti v popolno tišino. Brez kakršnihkoli dražljajev iz okolja. V takšni tišini se mora človek slej kot prej soočiti s samim sabo. In velika večina nezadovoljnih sosedov bi že po nekaj urah moledovala, naj nekdo v sosednjem prostoru za božjo voljo začne igrati na klavir.

Keith discusses the potential takeover of the Federal Reserve by President Trump, highlighting the macroeconomic implications.  Economist, author and publisher of Macro Watch, Richard Duncan, joins the show and explains that central bank independence is crucial to prevent political influence on monetary policy, which could lead to excessive money supply and inflation.  Trump's policies, including tariffs and spending bills, are inflationary, necessitating lower interest rates.  Resources: Subscribe to Macro Watch at RichardDuncanEconomics.com and use promo code GRE for a 50% discount. Gain access to over 100 hours of macroeconomic video archives and new biweekly insights into the global economy. Show Notes: GetRichEducation.com/571 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:   Keith Weinhold  0:01   Welcome to GRE. I'm your host. Keith Weinhold, the President has a plan to completely take over the Fed, a body that historically stays independent of outside influence. Learn the fascinating architecture of the planned fed seizure and how it's expected to unleash a wealth Bonanza and $1 crash with a brilliant macroeconomist today, it'll shape inflation in interest rates in the future world that you'll live in today. On get rich education.    Speaker 1  0:33   Since 2014 the powerful get rich education podcast has created more passive income for people than nearly any other show in the world. This show teaches you how to earn strong returns from passive real estate investing in the best markets without losing your time being a flipper or landlord. Show Host Keith Weinhold writes for both Forbes and Rich Dad advisors, and delivers a new show every week since 2014 there's been millions of listener downloads in 188 world nations. He has a list show guests include top selling personal finance author Robert Kiyosaki. Get rich education can be heard on every podcast platform, plus it has its own dedicated Apple and Android listener phone apps build wealth on the go with the get rich education podcast. Sign up now for the get rich education podcast or visit get rich education.com   Corey Coates  1:21   You're listening to the show that has created more financial freedom than nearly any show in the world. This is get rich education.   Speaker 1  1:31   Welcome to GRE from Fairfax, Virginia to Fairfield, California, and across 188 nations worldwide. I'm Keith Weinhold, and you are listening to get rich education. The Federal Open Market Committee is the most powerful financial institution, not only in the nation, but in the entire world, and when an outside force wants to wrestle it and take it down. The change that it could unleash is almost incredible. It's unprecedented. The President wants full control. Once he has it, he could then slash interest rates, order unlimited money creation, and even peg government bond yields wherever he wishes, and this could drive wealth to extraordinary new highs, but this also carries enormous risks for the dollar and inflation and overall financial stability. And I mean, come on now, whether you like him or not, is Trump more enamored of power than Emperor Palpatine in Star Wars or what this is fascinating. Today's guest is going to describe the architecture of the takeover the grand plan. Our guest is a proven expert on seeing what will happen next in macroeconomics. He's rather pioneering in AI as well. But today, this all has so much to do with the future of inflation and interest rates. We're going to get into the details of how, step by step, Trump plans to infiltrate and make a Fed takeover.    Keith Weinhold  3:23   I'd like to welcome back one of the more recurrent guests in GRE history, because he's one of the world's most prominent macroeconomists, and he was this show's first ever guest back in 2014 he's worked with the World Bank and as a consultant to the IMF. He's contributed a lot on CNBC, CNN and Bloomberg Television. He's a prolific author. His books have been taught at Harvard and Columbia, and more recently, he's been a guest speaker at a White House Ways and Means Committee policy dinner in DC. So people at the highest levels lean on his macroeconomic expertise. Hey, welcome back to GRE joining us from Thailand as usual. It's Richard Duncan   Richard Duncan  4:03   Keith, thank you for that very nice introduction. It's great to see you again.   Keith Weinhold  4:08   Oh, it's so good to have you back. Because you know what, Richard, what caught my attention and why I invited you back to the show earlier than usual is about something that you published on macro watch, and it's titled, Trump's conquest of the Fed will unleash a wealth Bonanza, $1 crash and state directed capitalism. I kind of think of state directed and capitalism as two different things, so there's a few bits to unpack here, and maybe the best way is to start with the importance of the separation of powers. Tell us why the Fed needs to maintain independence from any influence of the president.   Richard Duncan  4:44   Central banks have gained independence over the years because it was realized that if they didn't have independence, then they would do whatever the president or prime minister told them to do to help him get reelected, and that would tend to lead to excessive money supply. Growth and interest rates that were far too low for the economic environment, and that would create an economic boom that would help that President or politician get reelected, but then ultimately in a bust and a systemic financial sector crisis. So it's generally believed that central bank independence is much better for the economy than political control of the central bank.   Speaker 1  5:24   Otherwise we would just fall into a president's short term interests. Every president would want rates essentially at zero, and maybe this wouldn't catch up with people until the next person's in office.   Richard Duncan  5:35   That's right. He sort of wants to be Fed Chair Trump. That's right, president and Fed Chairman Trump on the horizon. It looks like won't be long, Now.   Speaker 1  5:45   that's right. In fact, even on last week's episode, I was talking about how Trump wants inflation, he won't come out and explicitly say that, of course, but when you look at the majority of his policies, they're inflationary. I mean, you've got tariffs, you've got deportations, this reshaping of the Fed that we're talking about the hundreds of billions of dollars in spending in the one big, beautiful Bill act. It is overwhelmingly inflationary.   Richard Duncan  6:12   It is inflationary. And he may want many of those things that you just mentioned, but what he doesn't want is what goes along with high rates of inflation, and that is high interest rates, right? If interest rates go up in line with inflation, as they normally do in a left to market forces, then we would have significantly higher rates of inflation. There would also be significantly higher rates of interest on the 10 year government bond yield, for instance. And that is what he does not want, because that would be extremely harmful for the economy and for asset prices, and that's why taking over the Federal Reserve is so important for him, his policies are going to be inflationary. That would tend to cause market determined interest rates to go higher, and in fact, that would also persuade the Fed that they needed to increase the short term interest rates, the federal funds rate, if we start to see a significant pickup in inflation, then, rather than cutting rates going forward, then they're more likely to start increasing the federal funds rate. And the bond investors are not going to buy 10 year government bonds at a yield of 4% if the inflation rate is 5% they're going to demand something more like a yield of 7% so that's why it's so urgent for the President Trump to take over the Fed. That's what he's in the process of doing. Once he takes over the Fed, then he can demand that they slash the federal funds rate to whatever level he desires. And even if the 10 year bond yield does begin to spike up as inflation starts to rise, then the President can instruct, can command the Fed to launch a new round of quantitative easing and buy up as many 10 year government bonds as necessary, to push up their price and to drive down their yields to very low levels, even if there is high rate of inflation.   Keith Weinhold  7:58   a president's pressure to Lower short term rates, which is what the Fed controls, could increase long term rates like you're saying, it could backfire on Trump because of more inflation expectations in the bond market.   Richard Duncan  8:12   That's right. President Trump is on record as saying he thinks that the federal funds rate is currently 4.33% he said it's 300 basis points too high. Adjusting would be 1.33% if they slash the short term interest rates like that. That would be certain to set off a very strong economic boom in the US, which would also be very certain to create very high rates of inflation, particularly since we have millions of people being deported and a labor shortage at the moment, and the unemployment rate's already very low at just 4.2% so yes, slashing short term interest rates that radically the federal funds rate that radically would be certain to drive up the 10 year government bond yield. That's why President Trump needs to gain control over the Fed so that he can make the Fed launch a new round of quantitative easing. If you create a couple of trillion dollars and start buying a couple of trillion dollars of government bonds, guess what? Their price goes up. And when the price of a bond goes up, the yield on that bond goes down, and that drives down what typically are considered market determined interest rates, but in this case, they would be fed determined interest rates Trump determined interest rates.   Speaker 1  9:28   Inflationary, inflationary, inflationary, and whenever we see massive cuts to the Fed funds rate that typically correlates with a big loss in quality of life, standard of living, and items of big concern. If we look at the last three times that rates have been cut substantially, they have been for the reasons of getting us out of the two thousand.com bubble, then getting us out of the 2000 day global financial crisis, then getting us out of covid in 2020, I mean, massive rate cuts are. Are typically a crisis response   Richard Duncan  10:02   yes, but if we look back, starting in the early 1980s interest rates have have trended down decade after decade right up until the time covid hit. In fact, the inflation rate was below the Fed's 2% inflation target most of the time between 2008 the crisis of 2008 and when covid started, the Fed was more worried about deflation than inflation during those years, and the inflation rate trended down. And so the interest rates tended to trend down as well, and we're at quite low levels. Of course, back in the early 1980s we had double digit inflation and double digit interest rates, but gradually, because of globalization, allowing the United States to buy more and more goods from other countries with ultra low wages, like China and now Vietnam and India and Bangladesh, buying goods from other countries with low wages that drove down the price of goods in the United States, causing goods disinflation, and that drove down the interest rates. That drove down the inflation rate. And because the inflation rate fell, then interest rates could fall also, and that's why the interest rates were trending down for so long, up until the time covid hit, and why they would have trended down again in the absence of this new tariff regime that President Trump has put into place. Now, this is creating a completely different economic environment. President Trump truly is trying to radically restructure the US economy. There is a plan for this. The plan was spelled out in a paper by the man who is now the Chairman of the Council of Economic Advisors. His name is Steven Moran, and the paper was called a user's guide to restructuring the global trading system. It was published in November last year, and it very clearly spelled out almost everything President Trump has done since then in terms of economic policy. It was truly a blueprint for what he has done since then, and this paper spelled out a three step plan with two objectives. Here are the three steps. Step one was to impose very high tariffs on all of the United States trading partners. Step two was then to threaten all of our allies that we would no longer protect them militarily if they dared to retaliate against our high tariffs. And then the third step was to convene a Mar a Lago accord at which these terrified trading partners would agree to a sharp devaluation of the dollar and would also agree to put up their own trade tariffs against China in order to isolate China. And the two objectives of this policy, they were to re industrialize the United States and to stop China's economic growth so that China would be less of a military threat to the United States, which it is currently and increasingly with each passing month. So so far, steps one and two have been carried out very high tariffs on every trading partner, and also threats that if there's any retaliation, that we won't protect you militarily any longer. And also pressure on other countries to put high tariffs against China. The idea is to isolate China between behind a global tariff wall and to stop China's economic growth. So you can see that is what President Trump has been doing. And also in this paper, Stephen Marin also suggested that it would be very helpful if the Fed would cooperate to hold down 10 year government bond yield in this environment, which would naturally tend to push the bond yields higher. So that paper really did spell out what President Trump has done since then.   Keith Weinhold  13:59   This is fascinating about this paper. I didn't know about this previously, so this is all planned from tariffs to a Fed takeover.   Richard Duncan  14:08   That's right, the idea is to re industrialize the United States. That's what President Trump has been saying for years. Make America Great Again. And it's certainly true that America does need to have the industrial capacity to make steel and ships and pharmaceutical products and many other things in his own national self defense. But there's a problem with this strategy since the breakdown of the Bretton Woods system, and we've talked about this before, so I will do this fast forwarding a bit when the Bretton Woods system broke down up until then it broke down in 1971 before then, trade between countries had to balance. So it wasn't possible for the United States to buy extraordinarily large amounts of goods from low wage countries back then, this thing that's caused the disinflation over the last four decades, trade had to balance because on the Bretton Woods system, if we had a big trade deficit. Deficit, we had to pay for that deficit with gold. US gold, and gold was money. So if we had a big trade deficit and had to pay out all of our gold other countries to finance that deficit, we would run out of gold. Run out of money. The economy would hit a crisis, and that just couldn't continue. We'd stop buying things from other countries. So there was an automatic adjustment mechanism under the Bretton Woods System, or under the classical gold standard itself that prevented trade deficits. But once Bretton Woods broke down in 1971 It didn't take us too long to figure out that it could buy extraordinarily large amounts of things from other countries, and it didn't have to pay with gold anymore. It could just pay with US dollars, or more technically, with Treasury bonds denominated in US dollars. So the US started running massive trade deficits. The deficits went from zero to $800 billion in 2006 and now most recently, the current account deficit was $1.2 trillion last year. So the total US current account deficit since the early 1980s has been $17 trillion this has created a global economic boom of unprecedented proportions and pulled hundreds of millions of people around the world out of poverty. China is a superpower now, because of its massive trade surplus with the US, completely transformed China. So the trade surplus countries in Asia all benefited. I've watched that firsthand, since I've spent most of my career living in Asia, but the United States also benefited, because by buying things from low wage countries that drove down the price of goods, that drove down inflation, that made low interest rates possible, that made it easier for the US to finance its big budget deficits at low interest rates, and so with Low interest rates, the government could spend more and stimulate the economy. Also with very low interest rates, stock prices could go higher and home prices could go higher. This created a very big economic boom in the United States as well. Not only did the trade surplus, countries benefit by selling more to the US, but the US itself benefited by this big wealth boom that has resulted from this arrangement. Now the problem with President Trump's plan to restructure the US economy is that he wants to bring this trade deficit back down essentially to zero, ideally, it seems. But if he does that, then that's going to cut off the source of credit that's been blowing this bubble ever larger year after year since the early 1980s and we have such a big global credit bubble that if this source of credit has been making the bubble inflate, the trade deficit, if that were to significantly become significantly lower, then this credit that's been blowing up, the bubble would stop, and the bubble would implode, potentially creating very severe, systemic financial sector crisis around the world on a much, probably a much larger scale than we saw in 2008 and leading to a new Great Depression. One thing to think about is the trade deficit is similar to the current account deficit. So the current account deficit is the mirror image of capital inflows into the United States. Every country's balance of payments has to balance. So last year, the US current account deficit was $1.2 trillion that threw off $1.2 trillion into the global economy benefiting the trade surplus countries. But those countries received dollars, and once they had that 1.2 trillion new dollars last year, they had to invest those dollars back into us, dollar denominated assets of one kind or another, like government bonds or like US stocks, and that's what they did. The current account deficit is the mirror image of capital inflows into the United States. Last year was $1.2 trillion of capital inflows. Now if you eliminate the current account deficit by having very high trade tariffs and bringing trade back into balance, you also eliminate the capital inflows into the United States, and if we have $1.2 trillion less money coming into the United States a year or two from now, that's going to make it much more difficult to finance the government's very large budget deficits. The budget deficits are expected to grow from something like $2 trillion now to $2.5 trillion 10 years from now, and that's assuming a lot of tariff revenue from the tariffs, budget deficit would be much larger still. So we need the capital inflows from these other countries to finance the US budget deficit, the government's budget deficit. If the trade deficit goes away, the capital inflows will go away also, and with less foreign buying of government us, government bonds, then the price of those bonds will fall and the yield on those bonds will go up. In other words, if there are fewer buyers for the bonds, the price of the bonds will go down and the yield on the bonds will go up. In other words, long term interest rates will go up, and that will be very bad for the US Economy   Speaker 2  14:08   the yields on those 10 year notes have to go up in order to attract investors. Mortgage rates and everything else are tied to those yields.   Richard Duncan  19:36   That's right. And cap rates. When people consider investing in tech stocks, they consider they'll buy fewer stocks if the interest rates are higher. So this is why it's so important for President Trump to conquer the Fed, to take over the Fed. That's what he's doing. Technically, he's very close to accomplishing that. Shall we discuss the details?   Speaker 1  20:29   Yes, we should get more into this fed takeover, just what it means for the future of real estate markets and stock markets. With Richard Duncan, more, we come back. I'm your host, Keith Weinhold   Keith Weinhold  20:41   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?    Keith Weinhold  21:13   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,   Dani-Lynn Robison  22:24   you is freedom family investments co founder, Danny Lynn Robinson, listen to get rich education with Keith Weinhold, and don't quit your Daydream.   Speaker 1  22:31   Welcome back to get Education. I'm your host. Keith Weinhold, we're talking with macroeconomist Richard Duncan about a Fed takeover. I think the President wants to be Fed Chair Trump, Richard. Talk to us more about this, because this is really part of a grand plan.   Richard Duncan  22:57   So the Federal Reserve is in charge of monetary policy. That means it sets the interest rates on the federal funds rate, the short term interest rates, and it also has the power to create money through quantitative easing or to destroy money through quantitative tightening. So the Fed is in charge of monetary policy. The Fed makes its decisions at its it meets eight times a year, the Federal Open Market Committee, the FOMC, meets eight times a year, and they take votes. They discuss what's going on in the economy. They make a decision about what they should do about interest rates, and in some cases, decisions about creating or destroying money through quantitative easing or quantitative tightening. They take a vote. The structure of the Federal Reserve System is as follows. There are seven members of the Federal Reserve Board of Governors, so there are seven fed governors there. The Federal Reserve Board is in based in Washington, DC. In addition to that, there are 12 Federal Reserve banks around the country, like the Federal Reserve Bank of St Louis, for instance, or the Federal Reserve Bank of Kansas, the Federal Reserve Bank of New York. Each of these Federal Reserve Banks have a president, so there are 12 Federal Reserve Bank presidents now at the FOMC meetings where interest rates are decided, all seven fed governors get a vote, but only five Federal Reserve Bank presidents get to vote, and they rotate their votes every year they the following year are different. Five fed presidents get to vote. The Federal Reserve Bank president of New York always gets the vote because New York is such an important financial center, but the other four other presidents keep rotating year after year, and the presidents, 12 presidents, serve five year terms, and they can be reappointed, and their terms expire all at the same time, all on the same day, all of their terms will expire next year on February 28 and they will perhaps be reappointed and perhaps. Be reappointed. So that's the structure, seven Federal Reserve Bank governors and 12 Federal Reserve Bank presidents. All the governors. All seven get to vote at every FOMC meeting, but only five of the Presidents get to vote. So that's a total of 12. The Governors of the Federal Reserve System are the most important the seven. Those seven include the Chairman, Chairman Powell, and this is why they're the most important. They're important because if four of the seven have the power to fire all of the Federal Reserve Bank presidents, if four fed governors vote together, they can fire all 12 Federal Reserve Bank presidents. It only takes four. Only takes four. Then those Federal Reserve Bank presidents would have to be replaced, but the Federal Reserve Board of Governors has to approve the replacements. So if President Trump has four fed governors who will do what he tells them to do, then they can fire all the Federal Reserve Bank presidents and only replace them with other people who will do what President Trump tells them to do. Gosh. So what this means is, if the president can get four Federal Reserve Bank governors out of seven, then he has absolute control over monetary policy. He can do anything he wants with interest rates. He can do anything he wants with quantitative easing. So how many does he have now? Well, he has two that he's appointed, Christopher Waller and Michelle Bowman. They voted to cut interest rates at the last FOMC meeting. That was a dissenting vote, because the rest of the voting members voted to hold interest rates steady. Those two have already voted with the President, so they're on Team Trump, and they're going to stay on Team Trump, because both of them would like to become Fed Chairman when Jerome Powell term expires in May next year, very suddenly and very unexpectedly. A month or so ago, another fed Governor resigned. Her name is Adriana Coogler. Her term was not due to expire for another six months, and she'd not given any indication that she was going to resign early, but she did this now gives the President can nominate the Federal Reserve Bank governors. So he is nominated Stephen Moran, the one who wrote the paper the grand plan. Grand plan. He's nominated him to replace Adriana Coogler, yeah, and he's going to vote on him on his appointment, perhaps within very soon, and it only takes 51 senators to vote him in. And since the Republicans control the Senate, he will be approved, it seems very likely that he will be approved, and that will give President Trump the third vote on the FOMC. He will have three out of the seven governors. He only needs one more, and this is where at least the cook comes in. So on the 26th of August, I think President Trump announced that he was firing Lisa Cook, a Fed governor, because she allegedly had made misleading statements on some mortgage applications that have not been proven yet, that they are alleged. So he says that he has fired her. She has said he does not have the right to fire her. The legal cases that the President does have the right to fire a Federal Reserve Bank Governor, but only for cause. And so there's a real question whether this qualifies as being for cause or not, especially since it's only alleged at this point, but assuming that he does get control. So if he does succeed in firing her, he will be able to appoint her replacement, and that will give him four members, four governors out of the seven. And as we just discussed, with four out of seven, he will have complete control over monetary policy, because with four out of seven, that would give him the power to command those four to vote to fire all 12 presidents of the Federal Reserve Banks, and then to appoint new presidents of the Federal Reserve Banks who would vote along with whatever President Trump tells them to vote for. So in that case, with four fed governors, he would have those Four Plus he would have the five presidents that he would appoint from the Federal Reserve Banks voting for him. So five plus four, that is nine, nine out of 12 voting members on the Federal Open Market Committee. He would be guaranteed nine out of 12 votes on the FOMC, and that would give him complete control over monetary policy, and that's what he needs, because his policies are inflationary. They're going to drive up inflation. They're and that's going to push up the 10 year government bond yield, and it would normally make the Fed also increase the federal funds rate, because higher inflation should the Fed in. Increase the interest rates to cool down the higher inflation. But now that's not going to happen, because he is going to take over the FOMC one way or the other. Just by firing Lisa Cook, he's sending a very clear message to all the other fed governors and to the 12 existing Federal Reserve Bank presidents, you do what I tell you or you may be investigated too. You're next, one way or the other, the President is going to get what the President wants, and what he wants is control over monetary policy, and what that means is much lower short term interest rates and probably another very big round of quantitative easing to hold down long term interest rates as well.   Keith Weinhold  30:41   That was an amazing architecture and plan that you laid out for how a President can take over the Federal Open Market Committee. That was amazing to think about that, and what we believe he wants you talked about it is potentially quantitative easing, which is a genteel way of saying dollar printing. Is it lowering the Fed funds rate down to, I think 1% is what he desired, and we're currently at about 4.3%   Richard Duncan  31:08   that's right. He said he'd like to see the federal funds rate 300 basis points lower, which would put 1.3% we could see a series of very sharp interest rate cuts by the Fed in the upcoming FOMC meetings, so we could see the short term interest rates falling very quickly, but as we discussed a little bit earlier, that would alarm the bond market and investors, because they would realize that much lower interest rates would lead to much higher rates of inflation by overstimulating the economy. And so the 10 year bond yields will move higher for fear of inflation, and that will then force President Trump to command the Fed, to create money through quantitative easing on a potentially trillion dollar scale, and start buying up government bonds to push up their price and drive down their yields, so that the 10 year bond yields and the 30 year bond yields will fall. And since mortgage rates are pegged to the government bond yields mortgage rates will fall, and credit card rates will fall, and bank lending rates will fall, and this will kick off an extraordinary economic boom in the US, and also drive asset prices very much higher and create a wealth Bonanza,   Keith Weinhold  32:15   right? And here, Richard and I are talking interestingly, just two days before the next Fed decision is rendered, therefore, with eminent cuts, we could very well see soaring stock and real estate markets fueled by this cheap credit and this quantitative easing, at least in the shorter term.   Richard Duncan  32:36   But timing is something one must always keep in mind, there is a danger that we could actually see a sell off in the stock market in the near term. If we start seeing the Fed slashing interest rates, then the 10 year bond yields will start moving higher. That would ultimately lead to quantitative easing to drive those yields back down. But when the falling short term interest rates start pushing up interest rates on the 10 year government bond yield because investors expect higher rates of inflation, that could spook the stock market. The stock market's very expensive, so before QE kicks in, there could actually be a period where raising expectations for higher rates of inflation drive the 10 year bond yields higher before the Fed can step in and drive them back down again. We could actually see a sell off in the stock market before we get this wealth boom that will ultimately result when the Fed cuts the short term rates and then quantitative easing also drives down the long term rates. I hope that's not too confusing. There could be a intermediate phase, where bond yields move higher, and that causes the stock market to have a significant stumble. But that wouldn't last long, because then President Trump would command the Fed to do quantitative easing, and as soon as the president says on television that he's going to do quantitative easing, between the moment he says quantitative and the moment he says easing, the stock market is going to rocket higher.   Keith Weinhold  34:05   And here we are at a time where many feel the stock market is overvalued. Mortgage rates have been elevated, but they're actually still a little below their historic norms. The rate of inflation hasn't been down at the Fed's 2% target in years, it's been above them, and we've got signs that the labor market is softening.   Richard Duncan  34:25   That's true. The labor market numbers in the most recent job number were quite disappointing, with the revisions to earlier months significantly lower. But of course, with so many people being deported from the United States now, that's contributing to this lower job growth numbers. If you have fewer people, there are fewer people to hire and add to job creation, so that may have some distorting impact on the low job creation numbers. The economy actually is seems to be relatively strong the the. Latest GDP now forecast that the Atlanta Fed does is suggesting that the economy could grow by three and a half percent this quarter, which is very strong. So the economy is not falling off a cliff by any means. If the scenario plays out, as I've discussed, and ultimately we do get another round of quantitative easing and the Fed cuts short term interest rates very aggressively. That will create a very big economic boom with interest rates very low. That will push up real estate prices, stock prices and gold prices and Bitcoin prices and the price of everything except $1 the dollar will crash because currency values are determined by interest rate differentials. Right now, the 10 year government bond yield is higher than the bond yields in Europe or Japan, and if you suddenly cut the US interest rates by 100 basis points, 200 basis points, 300 basis points, and the bond yields go down very sharply, then it'll be much less attractive for anyone to hold dollars relative to other currencies, and so there will be a big sell off of the dollar. And also, if you create another big round of quantitative easing and create trillions of dollars that way, then the more money you create, the less value the dollar has supply and demand. If you have trillions of extra new dollars, then the value of the dollar loses value. So the dollar is likely to take a significant tumble from here against other currencies and against hard assets. Gold, for instance, that's why we've seen such an extraordinary surge in gold prices.   Speaker 1  36:38   right? Gold prices soared above three $500 and Richard I'm just saying what I'm thinking. It's remarkable that Trump continues to be surrounded by sycophants that just act obsequiously toward him and want to stay in line and do whatever he says. And I haven't seen anyone breaking that pattern.   Richard Duncan  36:59   I'm not going to comment on that observation, but what I would like to say is that if this scenario does play out, and it does seem that we're moving in that direction, then this big economic boom is very likely to ultimately lead to the big economic bust. Every big boom leads to a big bust, right? Big credit booms lower interest rates, much more borrowing by households, individuals, companies. It would while the borrowing is going on, the consumption grows and the investment grows, but sooner or later, it hits the point where even with very low interest rates, the consumers wouldn't be able to repay their loans, like we saw in 2008 businesses wouldn't be able to repay their loans, and they would begin defaulting, as they did in 2008 and at that point, everything goes into reverse, and the banks begin to fail when they don't receive their loan repayments. And it leads to a systemic financial sector crisis. The banks lend less when credit starts to contract, then the economy collapses into a very serious recession, or even worse, unless the government intervenes again. So big boom that will last for a few years, followed by a big bust. That's the most probable outcome, but I do see one other possibility of how that outcome could be avoided, on the optimistic side, and this is it. If once President Trump slash Fed Chairman Trump has complete control over US monetary policy, then it won't take him long to realize Stephen Moran has probably already told him that he would then be able to use the Fed to fund his us, sovereign wealth fund. You will remember, back in February, President Trump signed an executive order creating a US sovereign wealth fund. And this was music to my ears, because for years, as you well know, I've been advocating for the US government to finance a multi trillion dollar 10 year investment in the industries and technologies of the future   Keith Weinhold  39:01   including on this show, you laid that out for us a few years ago and made your case for that here, and then Trump made it happen.   Richard Duncan  39:08   Let's try my book from 2022 it was called the money revolution. How to finance the next American century? Well, how to finance the next American Century is to have the US, government finance, a very large investment in new industries and new technologies in things like artificial intelligence, quantum computing, nanotechnology, genetic engineering, biotech, robotics, clean energy and fusion, create fusion and everything, world where energy is free, ultimate abundance. So I was very happy that President Trump created this US sovereign wealth fund. Now that he will soon have complete control over his US monetary policy, he will understand that he can use the Fed to fund this, US sovereign wealth fund. He can have the Fed create money through quantitative easing and. And start investing in fusion. We can speed up the creation of the invention of low cost fusion. We could do that in a relatively small number of years, instead of perhaps a decade or longer, as things are going now, we could ensure that the United States wins the AI arms race that we are in with China. Whoever develops super intelligence first is probably going to conquer the world. We know what the world looks like when the United States is the sole superpower. We've been living in that world for 80 years. Yeah, we don't know what the world would look like if it's conquered by China. And China is the control super intelligence and becomes magnitudes greater in terms of their capacity across everything imaginable than the United States is whoever wins the AI arms race will rule the world. This sort of investment through a US sovereign wealth fund would ensure that the winner is the US and on atop it, so it would shore up US national security and large scale investments in these new technologies would also turbocharge US economic growth and hopefully allow us to avoid the bust that is likely to ultimately occur following The approaching boom, and keep the economy growing long into the future, rather than just having a short term boom and bust, a large scale investment in the industries of the future could create a technological revolution that would generate very rapid growth in productivity, very rapid economic growth, shore up US national security, and result in technological miracles and medical breakthroughs, possibly curing all the diseases, cure cancer, cure Alzheimer's, extend life expectancy by decades, healthy life expectancy. So that is a very optimistic outcome that could result from President Trump becoming Fed Chairman Trump and gaining complete control over monetary policy. And this is all part of the plan of making America great again. If he really followed through on this, then he certainly would be able to restructure the US economy, re industrialize it, create a technological revolution that ensured us supremacy for the next century. That's how to finance the next American century.   Speaker 1  42:23   Oh, well, Richard, I like what you're leaving us with here. You're giving us some light, and you're talking about real productivity gains that really drives an economy and progress and an increased standard of living over the long term. But yes, in the nearer term, this fed takeover, there could be some pain and a whole lot of questions in getting there. Richard, your macro watch piece that caught my attention is so interesting to a lot of people. How can more people learn about that and connect with you and the great work you do on macro watch, which is your video newsletter   Richard Duncan  43:00   Thanks, Keith. So it's really been completely obvious that President Trump was very likely to try to take over the Fed. Nine months ago, I made a macro watch video in December called Will Trump in the Fed, spelling out various ways he could take over the Fed, and why he probably would find it necessary to do so. So what macro watch is is it describes how the economy really works in the 21st Century. It doesn't work the way it did when gold was money. We're in a completely different environment now, where the government is directing the economy and the Fed, or seeing the President has the power to create limitless amounts of money, and this changes the way everything works, and so that's what macro watch explains. It's a video newsletter. Every couple of weeks, I upload a new video discussing something important happening in the global economy and how that's likely to impact asset prices, stocks, bonds, commodities, currencies and wealth in general. So if your listeners are interested, I'd encourage them to visit my website, which is Richard Duncan economics.com that's Richard Duncan economics.com and if they'd like to subscribe, hit the subscribe button. And for I'd like to offer them a 50% subscription discount. If they use the discount coupon code, G, R, E, thank you, GRE, they can subscribe at half price. I think they'll find that very affordable. And they will get a new video every couple of weeks from me, and they will have immediate access to the macro watch archives, which have more than 100 hours of videos. Macro watch was founded by me 12 years ago, and I intend to keep doing this, hopefully far into the future. So I hope your listeners will check that out.   Keith Weinhold  44:46   Well, thanks, both here on the show and on macro watch Richard gives you the type of insight that's hard to find anywhere else, and you learn it through him oftentimes before it makes the headlines down the road. So. Richard, this whole concept of a Fed takeover is just unprecedented, as far as I know, and it's been so interesting to talk about it. Thanks for coming back onto the show.   Richard Duncan  45:08   Thank you, Keith. I look forward to the next time.   Speaker 1  45:17   Yeah, fascinating stuff from Richard in the nearer term, we could then see interest rate cuts that would go along with cuts to mortgages and credit card rates and car loan rates and all kinds of bank lending rates. This could pump up the value of real estate, stocks, Bitcoin, gold, nearly everything a wealth bonanza. Now, in polls, most Americans think that the Fed should stay independent from outside control. You really heard about how the President is dismantling the safeguards that protect that fed independence, the strategy he's using to bend the Federal Open Market Committee to His will. And this is not speculation, because, as you can tell, the takeover of the Fed is already underway. A fed governor has been fired. New loyalists are being installed, and key votes are lining up in the President's favor. But as far as the longer term, you've got to ask yourself, if these policies will inflate a giant bubble destined to burst down the road. I mean triggering a crisis as bad as 2008 I mean, these are the very questions that every investor should be asking right now, if you find this in similar content fascinating, and you want to stay on top of what is forward looking what's coming next macroeconomically, check out Richard Duncan's macro watch at Richard Duncan economics.com for our listeners, he's long offered the discount code for a 50% discount that code is GRE, that's Richard Duncan economics.com and the discount code GRE next week here on the show, we're bringing it back closer to home with key us, real estate investing strategies and insights, a lot of ways to increase your income. Until then, I'm your host. Keith Weinhold, don't quit you Daydream.   Speaker 3  47:20   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.   Speaker 1  47:40   You 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,   Keith Weinhold  48:59   The preceding program was brought to you by your home for wealth, building, get richeducation.com you.  

Everything in this world has a cost, and the price of safety is civility. In order to live in society, the more powerful have to be induced to not impose upon the less powerful – an arrangement the less powerful have traditionally bought with respect. Reneging on this agreement is a form of tempting fate. In choosing between the man or the bear, women often select the option they've provoked the least. 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 #power #safety

Almost every dating coach tells his or her clients not to chase the opposite sex. However, if both sides listened to this advice, wouldn't that lead to a stand-off in the sexual marketplace? It would, if both sides were indefinitely equal with respect to their power balance – and this is not the case. In general, the more powerful force the less powerful to act. This is the power of attractiveness in sexual relationships. “Don't chase” only works if you are more attractive than the other party. 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 #power

Vlado Vlaškalić, – ki smo si ga zapomnili po številnih vlogah, še posebej v dveh predstavah, ki sta nastali po adaptaciji Jančarjevih romanov: To noč sem jo videl in v predstavi In ljubezen tudi –, igra eno od glavnih vlog v uprizoritvi Medeja, v režiji enega najvplivnejših evropskih režiserjev Martina Kušeja. Igra je bila najprej premierno predstavljena na Dubrovniških poletnih igrah, v koprodukciji festivala Dubrovačke ljetne igre, HNK Varaždin in Drame Slovenskega narodnega gledališča Maribor. Mariborska premiera bo 3.oktobra na velikem odru SNG Maribor. Medeja je nastala po besedilih Simona Stona in Henrija Mullerja. Gre za zelo sodobno zgodbo, ki se lahko dogaja tu med nami, hkrati pa zajema vso tragiko grškega mita. Vlado Vlaškalić: "Da bi raziskoval zgolj lik, bi se mi zdelo škoda časa, vsak tekst ti nekaj da. Z vsebino raziskuješ nekaj o sebi ali o družbi, mogoče prej nisi gledal na tak način ali pa nisi tako laboratorijsko pristopil k nekemu fenomenu ali pojavu. Zame je to vedno neka stvar, ki se dogaja v družbi ali pa se je."

“Sometimes with more choice comes more anxiety. And the decision of which exam to take ends up being part of the process that can be complicated and painful.” Deciding which exam to take can be tough - but it doesn't have to be! In this episode of Inside the GMAT, GMAC Zach is joined by Charles Bibilos, founder of GMAT Ninja, to discuss the complexities of choosing between the GMAT, GRE, and Executive Assessment (EA) for MBA admissions. They explore the unique features of each test, the psychological aspects of test-taking, common myths surrounding standardized tests, and effective preparation strategies. The conversation emphasizes the importance of understanding one's own strengths and weaknesses in relation to the tests, as well as the need for a balanced approach to studying and mental well-being. Links: GMAT Ninja: https://gmatninja.com/ Straight Talk with GMAC on YouTube Take the GMAT: gmat.com/register Takeaways: Choosing the right test can be a source of anxiety for MBA applicants. The GMAT, GRE, and EA each serve different purposes and audiences. Understanding the structure and content differences is crucial for test-takers. Test anxiety can significantly impact performance; managing it is essential. Many myths about standardized tests can lead to unnecessary stress. The GRE is a general admissions test, while the GMAT and EA are tailored for MBA programs. Preparation should include physical and mental well-being for optimal performance. Cramming is ineffective; consistent study is key to success. Understanding the reasoning behind questions is more important than memorizing formulas. Test-takers should focus on their individual strengths when choosing a test. Chapters 00:00 Introduction to Standardized Testing Choices 05:03 Choosing the Right Test for Your Goals 07:25 Exploring the Options: GMAT, EA, and GRE 12:06 Content Differences Between GMAT and GRE 18:51 GMAT's Data Insights Section 23:55 The Best Test for Each Type of Student 27:21 EA vs GRE, GMAT 30:21 Improving Your Quant Skills 35:15 Each Exam's Major Myths 42:03 Most Underrated Prep Tip

Keith discusses the factors driving rent growth, emphasizing income growth, supply constraints, and affordability.  He highlights that population growth has a weak correlation with rent growth, citing examples like Austin and San Francisco. The fastest rent growth is in San Francisco (4.6%), Fresno (4.6%), and Chicago (4%), while Austin (-6.8%), Denver (-5%), and Phoenix (-4.1%) show declines.  GRE Coach, Naresh Vissa, joins the conversation to talk about the administration's focus on lowering rates and the potential for higher inflation as a result. He encourages investors to stay informed and take advantage of opportunities when rates are low. Resources: Book a free coaching session with Naresh at GREinvestmentcoach.com Show Notes: GetRichEducation.com/570 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:   Keith Weinhold  0:01   Welcome to GRE. I'm your host. Keith Weinhold, vital trends are moving the rental real estate market. And learn what really drives rent growth. It's probably not what you think. Then inflate, baby. Inflate. Why this administration wants inflation today on get rich education.   Speaker 1  0:22   Since 2014 the powerful get rich education podcast has created more passive income for people than nearly any other show in the world. This show teaches you how to earn strong returns from passive real estate investing in the best markets without losing your time being a flipper or landlord. Show Host Keith Weinhold writes for both Forbes and Rich Dad advisors, and delivers a new show every week since 2014 there's been millions of listener downloads of 188 world nations. He has a list show guests and key top selling personal finance author Robert Kiyosaki, get rich education can be heard on every podcast platform, plus it has its own dedicated Apple and Android listener phone apps build wealth on the go with the get rich education podcast. Sign up now for the get rich education podcast, or visit get rich education.com   Corey Coates  1:08   You're listening to the show that has created more financial freedom than nearly any show in the world. This is get rich education.   Keith Weinhold  1:18   You Keith, welcome to GRE from Whippany New Jersey to Parsippany New Jersey. Not much distance there and across 188 nations worldwide. I'm Keith Weinhold, and you're listening to this week's episode of Get rich education, where it's not just about your ROI. It's about your roti, your return on time invested, and your return on life. Everyone says that population growth is what drives rents, yes, but that's just one part of it, and it probably isn't even the most important factor. There is evidence of this, from Harvard research to what HUD has found. Austin, Texas recently added 500,000 people, rents spiked, and then supply flooded in and rents stalled. Head count wasn't enough. I discussed that in depth when I walked the streets of Austin last year. San Francisco lost population, but yet rents rebounded and remain among the highest in the nation. Harvard's housing research shows that population growth only has a weak correlation with rent growth. So what actually does drive rents? Well, income growth, supply constraints, and then staying under the 30% affordability ceiling, which is HUD's definition of what a cost burdened household is, right? That means that a tenant spends more than 30% of their income on rent. That is cost burden, and this pattern holds from ancient Rome to modern Manhattan, rents follow paychecks, not head counts and on the supply side, well, not all metros are created equal. Some have quantified it with what's called a supply elasticity score, places like Houston can seemingly build endlessly, while Manhattan and San Francisco cannot. So it's that difference that explains why incomes turn into rent growth in one market but not in the other. So if you're chasing fast growing metros, okay, but be careful, because headcount does not equal pricing power. Paychecks are what do well today, rents are falling in boom towns, but they're climbing in what we would call legacy, established metros, the year over year, rent change across US, metro areas really has a striking contrast. The three with the fastest rent growth are San Francisco up 4.6% Fresno also up 4.6% and Chicago up 4% and the three biggest declines in rent are Austin down 6.8% Denver down 5% and Phoenix Down 4.1% rent contraction in those three cities. And here's the problem during that 2020, to 2022, real estate surge. Years ago, investors piled into Sun Belt markets, and they sort of expected this endless growth, but then new supply flooded Austin, Phoenix and Denver, pushing rents down and vacancies up, and all three of those are cities that I visited during the boom and I saw the. Cranes in the air myself, and yet, at the same time, older supply constrained metros, like in the northeast, in Chicago and in San Francisco, they are quietly regaining momentum. That's where demand is steady. Construction is limited, and that's why rents are ticking higher. So this is why, like I've talked about before, it's good for you to invest in some Sunbelt areas, say, like Florida and then others that have this steady demand, like, say, a place in Ohio. And it's worth pointing out, too, how unusual it is that a city like Austin has a 6.8% rent contraction. We all know that housing prices are more stable than stocks, sure, but real estate rents are even more stable than housing prices, so this rent aberration that was caused by such wild overbuilding in Austin. Now, I recently attended a presentation on the rental housing market. It was put together by John Burns. He's the one that presented it, and he's the owner of the eponymous John Burns research and consulting. And people pay good money to attend these presentations, and he's a guy worth listening to, always with good housing market insights, and some of his insights while they're the same ones I've shared with you for a while, like how there's been a persistent lack of housing supply in the Northeast and Midwest, and still an abundant supply in the south. The Northeast is the only region of the nation that's adding more jobs than new homes at this time, the top amenities that tenants want today are a driveway in a yard. Pretty simple things. They're not a pool in a clubhouse. They're a driveway in a yard. And if you think about them, it totally makes sense, and that's why single family rentals have become such a booming industry, because that's where tenants are getting a driveway and a yard and burns. Also pointed out that most US job growth is in low income jobs. The presentation talked mostly in terms of headwinds versus tailwinds. Lower immigration. Well, that's a headwind. That's a bad thing for real estate investing, since immigrants tend to be renters. The tailwinds The good thing that includes less future supply coming out of the market, fewer apartments and fewer build to rent, deliveries coming online, fewer being added between today and 2028 and another positive for the next two decades at least, is the fact that since people are having fewer kids, that makes people less likely to settle down, buy a home and need a good school district. Well, that is good for people renting longer, longer tenancy durations, and John Burns also spotlighted how building material cost inflation is up 40% from pre pandemic times fully 40% more in material costs. But that Spike has since flattened out. However, it is just another reason why home prices can't really fall substantially. Today's prices are baked in, and his summary overall is to be bullish and bet on the tailwinds those real estate investing positives that is mostly due to future rent growth because the new supply is going away, and it's going to continue to stay difficult to buy a home, more rent growth, and that's the end of what he had to say. So as you're out there, targeting the right areas and renters for your properties, I've talked before about how new build rental property is a sweet spot, since your builder will often buy down your mortgage rate. For you, new build is where you can attract a good quality tenant. Look for a moment, just forget finding a tenant that can just barely afford your unit because they're spending 30 to 33% of their income to pay you rent, because, see, in that condition, there's no room for you to get a rent increase. If you can offer great value to your residents and target a 10 to 15% rent to income ratio, aha, you are really in good shape, because the easiest rent growth is retaining happy residents that are conditioned to accept 5% rent increases. Well, that is more likely in a nice new build property. That's where you attract a better tenant. And if they were to move out, they would have to take a lesser property so they will stay and pay the rent in. Increase, and they're going to have the capacity to do so when the rent is only 10 to 20% of their income.    Keith Weinhold  5:25   Now, when we talk about a major factor that trickles down to rents, the level of inflation, a lot of this comes down to the Fed chair and even the president, to some extent. And you know what's interesting, half the nation bashes whoever is president, and the entire nation bashes whoever is the Fed chair. Look, every recent Fed Chair has been maligned and bashed more than a pinata at a toddler's birthday party, bashed open more than an umpire at a little league game. Well, since 1980 there have been five of them, Volker, then Greenspan, then Bernanke, then Yellen and now Jerome Powell, most of that group is known for substantially lowering interest rates, yet they've remained unpopular anyway. And you know the irony here? The most popular of these five is Paul Volcker. He's the only Fed chair that's celebrated, and yet he jacked rates in the 1980s to up near 20% yes, 20% he really made borrowers feel the pain, but yet he's the only guy that's celebrated, because that's how he stomped that out of control inflation fire, 45 years ago, in 1981 mortgage rates peaked between 18 and 19% yet Somehow he's the Fed share that we celebrate? Well, here in more modern times, will the Fed eventually have to do the same thing? This is because Trump wants inflation now. The short term, talk is about lowering interest rates, but there are so many inflationary forces that you've got to wonder about how interest rates could very well go much higher later to get on top of this inflation that I'm telling you Trump actually wants. Now, of course, no one is going to come out and explicitly say that they want inflation, but that is now so implied, there are a ton of policies that the administration favors that are super inflationary. Some are a little deflationary, like deregulation, but they are overwhelmingly inflationary. Look tariffs, that's inflation on goods, mass deportations, that's labor inflation, reshaping the Fed in order to lower rates. That's inflation, the one big, beautiful bill, act that's lots of spending and largely inflationary. I'm telling you, Trump wants inflation now I'm not here to evaluate these policies for being good or bad. This is about policies, not politics, and understand it's not just the US government. It's every government everywhere that secretly wants inflation. And why do they want that? Well, first, it fuels spending. If you know that your dollars are going to shrink in purchasing power tomorrow, well then you're going to spend today, and consumer spending makes up 68% of us. GDP, yes, Amazon, thanks, you. Secondly, inflation shrinks the government's debt. The third reason that governments everywhere want inflation is because it foils deflation. In a deflationary world, people hoard cash like its gold bullion, tax revenue dries up and the economy stalls, and also inflation. It facilitates wage adjustments. It helps the labor market function. If economic conditions are weak, well, then employers can implement real wage cuts just by keeping salaries flat right where they're at. I mean, that is so preferable to cutting nominal wages directly and giving employees a pay cut notice. Everyone hates seeing that. So those are what four big reasons why governments will take their gloves off and fight in a steel cage match to the death to ensure inflation. So most expect a rate cut at the Feds meeting next week. But if this continues and there were massive cuts, you know, there's something else you've got to ask yourself, do you really want to live in an economy where massive rate cuts occur. I mean, that's what the 2008 global financial crisis and the covid pandemic in 2020 brought to us. So massive cuts mean there's some giant problem out there. Therefore, although the Trump and Powell rivalry, it might make you. Interesting theater and headlines. You know, let's not get carried away. Let's put things in perspective. What matters to you more is how many dollars you're leveraging, the efficiency of your property operations and the quality of your business relationships. Really, the bottom line is that fed tweaks are background noise inflation, that is the long term engine that makes your real estate profitable. Focus there, and let the politicians keep doing the yelling concerns about ongoing inflation and what that means for real estate investors, that's next. I'm Keith Weinhold. You're listening to get rich education.    Keith Weinhold  8:57   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 prequel and even chat with President Chaley Ridge personally while it's on your mind, start at Ridge lendinggroup.com. That's Ridge lendinggroup.com.    Keith Weinhold  8:57   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 66866,   Ken McElroy  17:26   this is Rich Dad advisor Ken McElroy. Listen to get rich education with Keith Weinhold, and don't quit your Daydream.    Keith Weinhold  17:34   we have a familiar voice back on the show. It's an in house discussion here with our own GRE investment coach since 2021 he's helped you completely free, usually over the phone, learning your own personal goals and then helping you find the market that's the right fit for you, and even help connect you with the exact property address that helps you win the inflation Triple Crown, like say, 321, Mulberry Street in Chattanooga, Tennessee. They say that formal education will make you a living self education will make you a fortune. Well, he's got them both. He's slinging an MBA, and he's an active real estate investor just like you and I. Hey, welcome back to the show investment coach and race Vista.    Naresh Vissa  18:25   Hey, Keith pleasure, to be back on.    Keith Weinhold  18:27   Inflation is something that affects real estate investors even more so than it does the general public. Since we're borrowing large sums of money and the inflation discussion sure has been interesting lately, you just can't quite get rates back down to 2% still, they've been elevated for years. So talk to us from your vantage point about inflation and future inflation concerns.   Naresh Vissa  18:51   Well, Keith, I am concerned about inflation. This is the first time in a year or so that I'm concerned with the direction and with the policy surrounding inflation, here's why. And I brought this up when I was on your podcast in July, the current administration is not talking at all about the fact that inflation is rising. We saw the CPI, for example, hit 2.3% which was four year low earlier this year, and since then, inflation has gone up. That is concerning, that inflation is going back up without any rate cuts. Yet it's gone back, I don't want to say gone back up, but it's gone up. And remember, the Federal Reserve inflation target is 2% so we want to get as close to 2% as possible. And the number one issue in the 2024 election, and the number one issue today is still the cost of everything is right, is too much, which we'll talk about, from gas prices to home values to rents to grocery that's the. Big one, the cost of groceries, the stuff that you buy at grocery stores, etc, everything is just too expensive. Of course, education, you name, childcare, everything is just too expensive. Inflation is still, I think the administration needs to really tackle this problem. They need to really, really tackle it, because it is the number one issue. It is what people essentially, their vote is, is based on it's not necessarily based on some peace agreement in a foreign nation. It's not based on some social issue. The number one issue is going to be this inflation problem. It's are things affordable? Do I have money in my bank account to pay for X, Y and Z? So I am concerned because, yes, tariffs are inflationary. That's kind of common sense. Now I think tariffs can be good. Tariffs can keep inflation in check. If they're handled the right way, we will see that. But my bigger concern is that inflation has been rising. We're not anywhere close to that 2% and we know with a very high degree of certainty that the Federal Reserve is beginning their rate cutting cycle next week with the September rate cut, and that's going to be extended. We've seen President Trump. He's very public, his Treasury Secretary, his Secretary of Commerce, all the economic advisors who he has, they're very transparent about the fact that they want rates slashed, and they want rates slashed quickly. And so we know that we're going to get a rate this is going to be a rate slashing cycle. It's going to be great for the upper class, if you want to call it, it's going to be great for real estate investors, but for the common man, the byproduct of that is going to be higher inflation. There's just no way that you can cut rates so quickly, so low, and you're not going to see inflation. That's my concern. Now on the other hand, and again, we have to see how this plays out. On the other hand, I brought up earlier this year, I've referenced Doge. I think Doge is doing a good job cutting government spending, trying to scale back some of the government initiatives, not that the government's always going to spend we know that, but it's you need to cut back, and doges is trying to do that. That's a plus. But even bigger, I talked about some foreign wars, right? Well, I think that the Middle Eastern conflict and the Russia Ukraine conflict, both of those actually are disinflationary, or fixing those conflicts, creating peace. We've seen a ceasefire in the Middle East. We've seen a peace agreement in Ukraine, and they're disinflationary because of some of the items that I brought up. I think oil is going to dip below $50 a barrel as a result of these peace agreements, these ceasefires. So we're going to see oil prices go down. When you see oil and energy prices go down, you see the cost of almost everything else go down, because you need oil and energy to transport everything else. If you're building a house, you have wood and steel and lumber and and all sorts of materials. And it's you need a truck to transport all that. And the truck is probably it's not an EV truck. You're getting these big trucks that are using diesel fuel. So if we can bring down the cost of of oil and gas and electricity, which these taking care of these conflicts will do, creating peace will do the price of those products, oil, the natural gas, the electricity, the wheat, the grains, those are your groceries. The cost of those are going to come down. So I think it's very positive what we're seeing with this idea of peace in regions that make a huge difference to the global economy. So I'm curious to see, like I think we could see greater than 100 basis point decrease in inflation just by solving these conflicts 1% or more, like I legitimately think so, and that's without the tariffs. That's without the federal rate cut. So even if we're at, let's say, two and a half percent inflation today, and you shave off 100 basis points up now you're at one and a half, and then you throw in tariff inflation, you throw in the rate cut inflation, and we're around 2% so that's the ideal scenario that the administration is hoping for. It's let's create peace, let's have a freer market, and then they can scale back a lot of these tariffs too, because many of these tariffs against India, for example, they can scale back the United States can scale back the 50% tariff on India. That tariff was India got hit with because they're buying Russian oil, and you take care of the Russia conflict. Now it's we say, oh, India, you know, we'll scale back to go back to your 25% tariff, or maybe even less, if you do X, Y and Z. For us, we can expect to see many of these tariffs scaled back. We can expect to see the price of specific goods and services, the prices decrease, which will bring down inflation. That's what I'm optimistic about. Hopefully all these agreements hold, which I think they will, and we can expect that, and the Fed can begin its rate cutting cycle, and everything will be booming, and everything will be great. This is the. Deal scenario. I'm not predicting this. This is the ideal scenario for the administration,   Keith Weinhold  25:05   when both war and terrorists get as bad as they can possibly get. From there, they can only get better, each of which would be disinflationary. Now, the CPI inflation has been reported at 2.7% each of the past two months. But when we talk about rates, Trump wants lower rates, of course, and I think we all know that the Fed's fear of lowering rates is that high inflation could resurface. One thing though, that few think about is that lower rates lead to higher inflation, which kills off the national debt faster. But when we think about upcoming federal reserve rate cuts anytime, whether this was 10 years ago today or 10 years into the future, these are the type of lessons that I like to talk about. All right, when we look at the last Fed meeting, there was no rate cut, but then awful jobs numbers were reported right after that. That's why some think that there could be a 50 point rate cut at the next meeting. The Fed meets eight times a year, so there's about a month and a half between meetings. Now, the Fed doesn't have to wait for a meeting to make a rate cut. They can do an emergency rate cut between meetings, like we saw during covid, but sometimes they're reluctant to do that because that really spooks markets, and that makes people think, oh my gosh, there was an emergency rate cut. Maybe things are worse than we thought. What's going on that triggers concern?   Naresh Vissa  26:24   Well, I think that would be a huge mistake to have an emergency. Yeah, anatomic was obviously an emergency. That was a global emergency. Makes sense. 2008 I remember, I was just college student, but that was an emergency because we saw people lining up on the streets of Manhattan with all their boxes of laid off work, and we saw that on Phoebe. You know, that was a trying time. I think that's out of the question. It's completely unnecessary, especially when the Fed meets every 45 to 50 days. It's, you know, you can wait another 20 days until the next meeting and then make a decision when you have lower rates than the cost, the borrowing costs on the debt, it goes down so the government can refinance its debt, and they would pay less keyword interest dollars. That's a plus, the other plus with tariffs. And I really hope, again, this is just my opinion. I hope this is what happens. But the government is raising quite a lot of tariff revenue, so close to $30 billion last month. And we can expect, in the first full year, next year, it's going to have raised close to half a trillion dollars just for fiscal year 2026 that's the expectation, about half trillion dollars worth of tariff revenue. And I hope that the government uses that pair of revenue to pay down the debt, because when you're paying down the debt, you're dissipating inflation. What I actually don't want them to do is to give us back that money, because they've been floating that around, saying, Oh, we got all this tariff revenue. Let's get it back as a tariff dividend, and every American gets hex, you know, $100 in their bank account or something   Keith Weinhold  28:01   very altruistic. Of you patriotic,   Naresh Vissa  28:04   I would much rather that they use 100% of it to pay down that debt, because the country is going to be better off as a whole over the long term, and in turn, the people will be better off over the long term. The people may not see it. They may want their $200 check or $100 check or whatever it might be, but over the long term, I think the tariffs are overall working out quite well. We're not seeing the crazy inflation that the mainstream expert predicted. I don't think we're going to see the crazy inflation that the experts predicted, if you it's not going to be because of the tariffs, in my opinion, I think it's going to be if there's this aggressive rate cutting cycle that juices the markets and the cost of everything just just goes up. And this ties into real estate investing, because when the Fed starts cutting, that's a very good time for real estate investors to pay attention when the Fed stops cutting immediately. That's a an even better time to pay attention when the rates have bottomed. And this has to deal with timing the real estate market. I'll give you an example. I own several properties. Of one of my properties when the Fed was cutting in 2020 it took about a year for all those cuts to permeate into the mortgage market and into the the market as a whole. It took it. The inflation didn't go up overnight. The inflation didn't go up in April of 2020 or or May of 2020 it went up in April of 2021, it took about a year. So I actually refinanced one of my properties in July of 2021, I refinanced my my property, and I saved about 110 basis points on that refinance. And that's what I mean by timing the market. Because, if you're paying attention, part of it was I knew, Okay, the Fed has stopped. It's cutting. And you know, let's follow the more. Good market. Let's follow the Treasury yield curve and all that. And I jumped in. I literally refinanced at the bottom, like at the absolute bottom. There was about a three month window that was the bottom, and I refinanced. I did the application all that at the beginning of those three months, and it was and I got that great rate at the end of those three months. And I think there's going to be a tremendous opportunity for real estate investors. And I'm sure the Bane This is why I'm a little concerned about inflation as well, because the big hedge funds, the big real estate investment firms, the big banks, the blackstones, the blackrocks, they're going to be ready, and they're going to buy up. They're going to buy up real estate again, and investors, including our GRE investors, they're going to start buying up too. So pay attention. We're going to cover it here. We're going to cover it here, on the podcast and in the newsletter. But pay attention to these rates, because it'll be, I don't want to say, a once in a lifetime opportunity, but it will be a once in a cycle type of opportunity to jump in and get some bottoming real estate values as well as bottoming real estate mortgage rates at the same time. So that equilibrium point is only, like I said, about three or four months long. So we're going to be coming to that point and timing it sometime, I think next year, 2026   Keith Weinhold  31:21   talk to us about the vibe that you're getting from GRE listeners that contact you for a free coaching session. It's really hard to time the real estate market. Why don't you help us out with that? Let us know about a listener or two that you recently helped.   Naresh Vissa  31:37   Well, we have free real estate investment coaching here at GRE. It's absolutely free of charge. You can call, text me, email me whenever you'd like. People can book a free meeting with me, and it's a session. It's an immersive session on real estate investing. So we can go over all of that on our call. You can reach out to me unlimited times, like I said, it's I'm here just to help you throughout and along your real estate investment journey, I've helped hundreds of people invest in real estate, hundreds so it's buying turnkey, cash flowing real estate properties, so our investors can buy properties, and use my guidance and advice to help them buy properties. I also help them if they already own properties, how to optimize their portfolio, how to find new markets. I help them with their existing properties, dealing with property managers, with contractors, even with issues that things aren't always great in real estate, sometimes things can be bad. So listener Paul, for example. Listener Paul, he had a problem with the builder, and he submitted earnest money, and he wanted his earnest money back. Many, many years had gone by, and he came to me and he said, Hey, Naresh, you know, I've got all this money tied up, and the builder's not giving me the money back. Can you help me? And so I got him in touch with the right people, and within three or four months, he got all of his money back, plus interest on all the missed payments. So he got everything back as a lump sum, and then he thanked me and said, Thank you so much. I can sleep better at night, and I'm just I'm doing very well now, and he was ready to buy his next property.   Keith Weinhold  33:15   That's an example of where a deal went wrong and the builder didn't perform and build a property.   Naresh Vissa  33:19   Yes, exactly. Think of me as a trusted advisor, but also as a super connector, someone who can get you in touch with all the right companies and people to make real estate investing very sound. We have listener Joe, who bought many properties through us. He bought his first property through me and through GRE through our coaching program, and that first property worked out really well. So then he said, Hey, I want to buy a second property about six months later. So he bought a second property, and that worked out well. And then he said, let's go with it. And he bought all these with the same provider. So once he reached four, because my rule is, you don't want to go more than four or five in one market. Then he asked me for the next he said, what market do you recommend next? So then I recommended the next market, and then he bought another three or four in that market, and he built a nice little portfolio of seven or I mean, some people think it's little, some people think it's big, of seven or eight properties. So that's very common with the coaching program, where our listeners are really happy. If things are going great, I'm here for them. If things are not going the way that they expected, I'm here to help fix that problem.   Keith Weinhold  34:30   Maurice, is there to help you start building and grow a portfolio. Now, how do you yourself analyze deals and find properties before you let our listeners know about them?   Naresh Vissa  34:40   Well, we work with 15 to 20 different providers around the country, 15 to 20. So these providers are always reaching out to me, emailing me, calling me, leading me voicemails, texting me, saying we've got this great deal. We've got this great incentive. So I parse through all of that, and I find a handful of what I think is best. US and many of these deals, I send them to you, Keith, to promote in your Don't quit your Daydream newsletter, which people can subscribe if they go to get rich education.com. I send them there, and I let our listeners know on the phone when they set up calls, or I have notes on every meeting. So I'm able to send all of these deals to them, and that's how I put the best deals in front of them.   Keith Weinhold  35:25   Most of the coaching calls are over the phone rather than zoom the race. Sure can arrange a zoom call with you if you prefer. You really don't need to do too much to prepare for the call either.   Naresh Vissa  35:38   No, not at all. Just sign up for the meeting, and I'll run things. I'll run the meeting, I'll run the call. It's very straightforward. It's a session. It's very immersive, very interactive.   Keith Weinhold  35:49   Yeah, and you just have to book a time with Naresh once there and afterward. Yeah, it's really casual. Naresh is very open to you text messaging him if you have any ideas, or if you just heard about something on the show that you want to know more of. But yeah, booking that first coaching call is really what opens the door to the communication. And you really staying up to date on things. You can find a race through GRE marketplace. And alternatively, you can learn more about him with his bio. And importantly, book a time on his calendar by going directly to GREinvestment coach.com for a while now he's had times available Monday through Friday, and even some weekend slots available, and yeah, keep in touch with him, because property inventory is ever changing, especially with late breaking news like we've had this year of Home Builders Offering major incentives like buying down your mortgage rate to about 5% so staying up to date has hopefully brought you, the listeners, some really big wins already this year. Naresh, do you have any last thoughts?   Naresh Vissa  35:49   Definitely book a meeting with me. You won't regret it. I think even if you think that you own all these properties, you have all this experience, I think you'll find that the resources we offer it through our free coaching program, there will be one or two nuggets that you didn't know about that will still help you. So it doesn't harm anybody to book that free session with me. If you don't think you need my help, maybe it's just a five minute call and we touch base and we're good to go. That's fine too, but I highly recommend that people get in touch with me. We go from there so that you can continue to have a fruitful investment journey.   Keith Weinhold  37:28   Naresh has been valuable as always. Thanks for coming back out of the show.    Naresh Vissa  37:31   Thank you very much, Keith.   Keith Weinhold  37:38   Yeah, some sharp insight from Naresh as always. Now, when you think about making your next property move, consider how, compared to a few years ago, uncertainty has largely abated and real estate has stabilized. Think about how back in 2020 covid was the big uncertainty concern 2021 it was this real estate boom and an inventory shortage. You would get 50 or 80 offers on one property, and buyers were waiving inspections. That was tough. That was such a seller's market in 2022 that's when you had inflation and the supply chain chaos. That's when CPI inflation peaked at 9.1% in 2023 the big uncertainty concern was interest rate shock and the affordability crisis. And last year and this year, they've pivoted more to macro economic concerns. So therefore today's chief concern gets somewhat more buffered from real estate. Now I discussed the direction of rents earlier in today's show, the recently released Kay Shiller numbers came out, and they show that national home prices are up almost 2% annually, 13 cities or higher and seven or lower. By the way, this continued nominal price appreciation that frustrates the bejesus out of those perpetually wrong crash predictors. They have been wrong even longer than the people waiting for flying cars to show up. And where will prices continue to go from here, probably even higher now, America just hit somewhat of a milestone in this cycle. You might remember that mortgage rates peaked at 7.8% almost two years ago. Well, mortgage rates have now slid down to six and a half 6.5% and here's why this has become significant, right? Just compared to when rates were 7% per the nar 2.8 million Americans now qualify to buy a home. 5.5 million more will qualify at 6% and 7.7 more will qualify at five and a half percent. My gosh. Now. Now, of course, not every newly qualified buyer is going to pounce on a property, but only if a fraction of those do. Can you imagine how this demand increase will stoke prices? There are still only about 1.1 million homes available today. So not only are mortgage rates at a fresh low, but inventory choices, although they're still historically low, they are now at a six year high, and this is all while there's less buyer competition. So today's buyer conditions are really improving, and the bottom line here is that you are in the best position in more than five years to find the right property while still avoiding a bidding war, you have really got some properties to choose from. That is the takeaway, and you don't need to do much to prepare for an immersive free call with Naresh. You know what your situation is, although you probably do want to have about a 20% down payment for a property ready to go, some of which cost as little as 200k in these investor advantage markets, whether you've never bought any property in your life, or if you have dozens, it probably will benefit you. You can easily book a time that works best for you right on a GRE investment coaches calendar that way. There's no back and forth, and you can set it up now. Should you so choose at GRE investment coach.com Until next week, I'm your host, Keith Weinhold, don't quit your Daydream.   Speaker 3  41:38   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  42:02   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, 266, 866,   Keith Weinhold  43:18   The preceding program was brought to you buy your home for wealth, building, get richeducation.com

In this week's MBA Admissions podcast we began by discussing the upcoming new MBA admissions season. This week, Michigan / Ross, Stanford, Northwestern / Kellogg, Yale SOM, Toronto / Rotman and Berkeley / Haas have their round 1 deadlines. Georgetown / McDonough and John's Hopkins / Carey have their Early Action round deadlines. Graham highlighted the upcoming September series of admissions events, where Clear Admit will host the majority of the top MBA programs to discuss Round 2 application strategy. The first session is on Wednesday, and includes Dartmouth / Tuck, Duke / Fuqua, Georgia Tech / Scheller, UPenn / Wharton and UVA / Darden. Signups for this series are here: https://bit.ly/cainsidemba Our second livestream AMA is scheduled for Tuesday, September 23rd on YouTube; here's the link to Clear Admit's YouTube channel: https://bit.ly/cayoutubelive. Graham then noted two admissions-related tips. The first focuses on all the in-person events that the top MBA programs are conducting in the month of September, the second focuses on the increasingly popular video essays. We continue our new series profiling some of the leading MBA faculty at the top MBA programs. For this week, we have profiles on two faculty from Chicago / Booth. We also continue our series of Adcom Q&As; this week we hear from Vanderbilt / Owen and Indiana / Kelley. 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 India with a 655 GMAT score. While the remainder of their profile looks very decent, we wonder if they can increase their GMAT score. This week's second MBA candidate is targeting Round 2 and has not yet completed the GRE test. They also have an International Relations masters degree. The final MBA candidate has a 337 GRE score. They began their career in the private sector then enlisted in the military. 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!

Many women incorrectly believe that sleeping with a man will decrease the likelihood that he consider her as a long-term prospect. However, this is not true. In some cases, the sex is the most positive aspect of the nascent relationship. The reason why women get ghosted after sex is because they've anchored their opportunity at too high a price point. Men who don't return have decided that the women in question have made it too difficult and expensive to pursue them. These men decide that they're not worth it. In today's episode, I discuss how women can avoid this outcome. 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 #women

Pogovor z Boštjanom Gorencem me je spominjal na branje dobrega fantazijskega romana - poln navdihujočega besedotvorja, nepričakovanih obratov in nenadnih komičnih insertov. Govorila sva o pomenu ohranjanja materinega jezika; o pisanju in branju; o pravljicah in domišljiji; o vplivu umetne inteligence na kulturo; in - seveda - o umetnosti lenarjenja :)Boštjana najdeš na: https://pizama.net/Omenjava avtorja Marta Lenardiča, knjigo Benny the Blue Whale in trilogijo Vernon Subutex v prevodu Jedrt Maležič.Epizoda je nastala v sodelovanju z A1, projektom Lahkonočnice. Gre za zbirko brezplačnih sodobnih slovenskih pravljic v aplikaciji in na spletu, pri katerih sodeluje več strokovnjakov in izvrstnih piscev, med drugim tudi Boštjan :) najdeš jih na: https://www.lahkonocnice.si/Časovnica po tematikah:0:00 Uvod in predstavitev gosta, Boštjana Gorenca Pižame5:15 Kdo je Boštjan Pižama in s čim vse se ukvarja?7:35 Pisanje proti prevajanju: Kako ohraniti dušo izvirnika?11:17 Izzivi prevajanja fantazije: Zakaj je "The Hand of the King" postal "gospod Roka"?12:50 Vpliv angleščine in pomen domačih vsebin za mlade17:47 Razvoj žanrske literature v Sloveniji (kriminalke, grozljivke)25:45 Kreativni proces: Od otroških knjig do stripa po "Krstu pri Savici"30:50 Zakaj šola včasih zatre veselje do branja?35:00 Moč knjižnic in spodbujanje bralne kulture39:40 Notranji dialog: Kako jezik oblikuje naše misli in svet?46:25 Umetna inteligenca (Chat GPT): Grožnja ali priložnost za ustvarjalce?55:50 Ustvarjanje za otroke in ozadje projekta A1 Lahkonočnice1:03:00 Pisanje logopedskih pravljic: Kako kreativnost pomaga pri učenju?1:13:37 Kaj je umetnost? Razloženo za 3-letnika1:17:29 Umetnost lenarjenja: Kako se sprošča mojster besed?1:21:20 Kako se ustvarjalec sooča s kritikami in sindromom vsiljivca?1:30:30 Bralna priporočila Boštjana Pižame1:33:06 Misel za konec: "Ugrizni v jabolko in boš videl."#Podcast #Slovenija #UmetnostLenarjenja #BoštjanPižama #Knjige #Branje #Prevod #IgraPrestolov #SlovenskiJezik

It took nearly dying on the adventure of a lifetime for Samwise Gamgee to make a move on Rosie Cotton. The hack to overcoming your approach anxiety is to build a habit of doing more difficult things: a conclusion that is borne out by one of my favorite psychology experiments, the study of the two bridges. If talking to a woman is the scariest thing you do today, you may need to evaluate your life choices. 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 #men

You only have so many official GRE practice tests, so how do you get the most out of them? Erfun Guela is the founder of GRE Compass, has authored a GRE prep book with over 100,000 sales, and has 15 years of GRE and GMAT tutoring experience. In this episode, Erfun shares his approach for using your valuable official GRE practice exams, including timeline and goals for each one. Achievable GRE 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. GRE Compass is an elite GRE tutor in NYC and online - https://grecompass.com/

Todd Drowlette, a commercial real estate broker with over $2 billion in closed deals, joins to discuss his upcoming A&E show, "The Real Estate Commission," which premieres October 12.  Todd emphasizes that commercial real estate is "a trillion dollar industry hiding in plain sight."  He points out that people interact with commercial real estate every day - when they go to a grocery store, coffee shop, gas station, or office building - without consciously thinking about it.  Commercial real estate loans are about to face a major challenge, with many 5-year loans needing refinancing at much higher interest rates, potentially creating significant market opportunities for investors. Check out the "The Real Estate Commission" show on A&E starting October 12th. Resources: Follow Todd Drowlette on Instagram at @bettertalktoTodd and check out Real Estate Commission Show Notes: GetRichEducation.com/569 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:   Keith Weinhold  0:01   Welcome to GRE I'm your host. Keith Weinhold, why is that convenience store, gas station or coffee shop located on that exact corner that it's on? It's strategic, and how does a deal like that really get negotiated? We're discussing this and more with an A and E television and streaming star today on get rich education   Keith Weinhold  0:28   since 2014 the powerful get rich education podcast has created more passive income for people than nearly any other show in the world. This show teaches you how to earn strong returns from passive real estate investing in the best markets without losing your time being a flipper or landlord. Show Host Keith Weinhold writes for both Forbes and Rich Dad advisors and delivers a new show every week since 2014 there's been millions of listener downloads in 188 world nations. He has a list show guests and key top selling personal finance author Robert Kiyosaki, get rich education can be heard on every podcast platform, plus it has its own dedicated Apple and Android listener phone apps build wealth on the go with the get rich education podcast. Sign up now for the get rich education podcast, or visit get rich education.com   Speaker 1  1:14   You're listening to the show that has created more financial freedom than nearly any show in the world. This is get rich education.   Keith Weinhold  1:30   Welcome to GRE from Sudbury, Ontario to Sudbury, Pennsylvania, and across 188 nations worldwide, you're listening to one of America's longest running and most listened to real estate investing shows this is Get Rich Education. I'm your host. Keith Weinhold, how did that ever happen? Here I am more slack jaw than a patient in a dentist's chair. But back with you for the 569th consecutive week. Anyway, this is the time of year where many people have just gone back to school. Here at GRE you go forward to school as you learn about what's really going to make a difference and move the financial meter in your future. Now, the world's best known negotiators include Mahatma Gandhi and Nelson Mandela today, the former FBI agent Chris Voss is perhaps the world's best known negotiator. You'll recall that we've hosted Chris Voss on the show twice here and talked a good bit about real estate negotiation. Then, I mean, who can forget my mock negotiation with him over a four Plex building, which played out right here on air. It was obvious who won that debate, but Chris is an all around negotiator, not specific to real estate. I thought, wouldn't it be great to get sort of a Chris Voss, but specific to real estate here on the show for you, and that's what we're doing today. So you're really going to enjoy this week's guest. He's also the star of a real estate reality show on the A E Network that's going to make its big, flashy debut next month. Now I had a small negotiation, I suppose, over email with one of my property managers in Florida recently, yeah, I got an email from my manager saying that an air conditioning unit needed to be removed and replaced in one of my single family rental properties there in Florida. Attached was a quote that they obtained from a company for $6,350 and there's conveniently a button for me to hit to approve this charge. But I did not hit the Approve button on that 6350, price. I requested that they provide me with two more quotes. And yes, remember, you pay your property manager often eight to 10% of the monthly rent in management fees they are working for you. So what are they working on to earn that make them go to work and do this for you? All right, for substantial work items, it's a reasonable request for you to seek three quotes. And all right, while they were tracking down the two other quotes, I went to AI. I asked chat GPT, what should the cost be to remove and replace an air conditioner in a 1500 square foot home in Florida? Chat GPT answered, 5500 to $7,500. For a standard three ton system in a 1500 square foot home. All right, so the first number the manager gave me that was sort of right in the middle of that range. A few days later, the second quote came in at 6150, all right, 200 bucks less than. The first one, I replied to them that if the third one doesn't come in substantially lower, that I am going to go seek quotes myself. A couple days later, the third and final quote came in, and it was 4990, yes, so I accepted it. This is about $1,300 less than the first quote that they gave me just for returning a few emails, and it will make the tenant happy to have a new air conditioning system. Newer systems tend to be more efficient, so it's probably going to make the tenant's electricity bill lower as well, and it probably makes it easier for me to justify future rent increases too. That tenant's been there for quite a few years. I'm thinking six years, and today's low home buyer affordability is probably going to keep them renting for a while. And the other thing that could keep them there longer is a new air conditioning system, and that is the biggest rental property expense, or the most I even had to get involved in quite a while, because remember, at GRE marketplace, almost every property there is either brand new or completely renovated. Your cap x expenses should be small for years. Let's meet this week's featured guest.   Keith Weinhold  6:31   Have you ever wondered why that coffee shop is on that corner that they're on, or why your grocery store is located just where it is? And how do those deals get negotiated? That's what you'll see on an upcoming new series on A and E. It starts October 12. It's called The Real Estate Commission. There are no scripts. The show captures real life deals as they unfold, as they crumble and fall apart and maybe come back together again. The star of that show is with us today. He believes he will tell you that he's the most prolific commercial real estate broker in the nation, and he has the experience and the gravitas to back that up, because he brings over two decades as a broker, and he's the managing director at Titan commercial Realty Group in New York. He's closed more than 1700 deals. Yes, 1700 deals totaling over $2 billion across the commercial real estate sectors. He's represented everyone from local startups to national REITs. Hey, welcome to get rich education, Todd Drowlette   Todd Drowlette  7:36   thank you, and that was quite the introduction. I don't think I could pop up myself.   Keith Weinhold  7:40   You've got a full interview is worth the time here to live up to that. Todd, you know, more than 10 years ago, I started living this life where it seems like everything that I say gets recorded and uploaded to the internet, and now you're gone down that same road similar to that. Tell us about your forthcoming reality TV and streaming show that starts next month. What can viewers really expect to see?   Todd Drowlette  8:04   There's over 100 shows on national TV about slipping houses, renovating houses, residential brokers. Ours is the first show ever on television to feature commercial real estate and to be entirely about commercial real estate. So it's a docu series. It's an there's eight episodes in the season. It follows my team at Titan and I doing actual real deals, from helping a divorce attorney search for new office space to investors to selling multi family properties. So viewers will be able to kind of see behind the scenes and see actual documented deals as they happen, fall apart, come back together again. I'm hoping the viewers will take away the fact that, yes, you have to be sophisticated and understand what's going on, but it's something that the average person can be involved in. Commercial real estate is a trillion dollar industry hiding in plain sight. You know, people go to the grocery store, like you said, they go to the coffee shop, they go to the gas station, they go to their office building. People use and interact with commercial real estate every single day. It's just like the air. You're not consciously thinking about it, even though you're using it almost every moment of the day,   Keith Weinhold  9:10   right? It's something that we all need and interact with. It's almost non discretionary, whether we're buying something at a retail store or filling up at a gas station? Yeah, I think to some people, commercial real estate sounds unapproachable. And as you watch this series, you're thinking, Oh, that's the life that that somebody else lives. It's really not that unapproachable. Does this series really help break that down?   Todd Drowlette  9:36   It does, and we made a very conscious decision. So I represent some very large corporations, but the series follows like smaller business and entrepreneurs, and seeing kind of people from the beginning or in different transitions of their business, like I'm growing but you're seeing in real life, actual successful business people. You're seeing them to react to real situations and that kind of moment where there. Like, Man, I think I'm ready to grow and expand. But what if I'm wrong? What if the economy turns Am I doing the right thing? And you're kind of watching us guide them through that process. But you see, you know so much of the internet is reception and people going, Oh, look at this. Look how successful I am. This. You're seeing successful people, and knowing that there's no guarantee in life like the best you're ever going to make is a calculated decision. But there's no point where your life where you're so successful that it just doesn't matter if you lose. Like the deals get larger and the stakes get higher, and every decision you make is potentially a pitfall. So you're going to see real entrepreneurs and real business executives dealing with those decisions of, when do I move? Do I invest? Do I buy? You know, I have this property, I need to get rid of it, and what's that process look like? I love commercial real estate. I can go on, on about it. What I'll be really excited to see is if the everyday person finds commercial real estate interesting,   Keith Weinhold  10:54   doers don't wait for uncertainty to abate, or else they would never get anything done. Doers educate themselves and make strategic moves despite the uncertainty and Todd shortly, I do want to ask you more about negotiation and just how that coffee shop gets that prime corner spot, if you will. But first dropping back a bit more introspective, I know that some have called this the series that launched five new real estate careers already. So how transformative is this? Personally for you to do this show, besides making mom proud, it probably changes how others think of you and how you think of yourself.   Todd Drowlette  11:32   Well, my mom thought I was nuts to national television, but she's proud, but thinks I'm crazy and she's probably not wrong. How this whole thing came about was we had a show also called The Real Estate Commission, that was on Facebook watch that we averaged about 1.3 million views per episode. The premise of that show that was also called The Real Estate Commission, was, Can four successful real estate brokers take just anyone off the street and turn them into the next 100 million dollar real estate agent. It was two commercial brokers, two residential brokers. When covid happened, I said to Brandon in my office, who's part of the cast of the show, on a I was, you know, looking back now, we know how covid played out, but at the time, it was like they made the announcement, I'm somebody who works 80 hours a week, and I'm looking at potentially, could we be a year with not working and doing nothing. So I'm like, we really need to do something to market. I go, why don't we do a reality show about real estate? And he's like, What in the hell do you know about producing a TV show? I go, well, nothing, but the whole world stopped. There's got to be people. We must know, people in TV who might be sitting at home and might be willing to help produce the show. And he started laughing. He goes, Well, actually, one of my college roommates is high up at Viacom, so we called him, and we put together a whole production team of 50 people in the middle of covid, put out a casting call and filmed the show, and it did really well. And then we kind of went around to the networks and made a deal with a E, but with A and E, I really wanted to show off commercial real estate and kind of show it to the average person and show them, hey, here's this thing that people can participate and be a part of. And it's a super interesting industry because, like, when I was 22 I was the youngest exclusive Starbucks broker in the country. So have you said that coffee shop that ends up in the corner? I was the guy that, you know, Starbucks would run their software and say, you run traffic counts that are available on, you know, state, D, o, t websites. People don't realize when you're driving down the road and you see the rubber thing goes, that's actually either a traffic engineer or the state, and they're seeing how many cars a day, but they're also tracking to the hour on which side of the road. So like, why is McDonald's on the pm side of the road? Or why is Starbucks or Duncan or seven brew coffee? Why are they on the am side of the road? Because they know, looking at the traffic patterns, who's going where. So when we would negotiate a deal like that, they would say, Hey, here's the target markets we want to be in. I was the boots on the ground, so to speak. That says, Okay, let me look up the tax records and let me look up the tax maps. I know they need three quarters of an acre to an acre to fit on. They want to be at a traffic light. We need this many cars per day. Hey, it's great. If we're across the street from a university or a hospital or a major office park or a grocery anchored shopping center. Can we get out in the out parcel? There's a deal structure to it, and then you negotiate the rent and how much tenant improvement dollars, or what contributions the landlord is going to make to the deal. And that's kind of how we identify, you know, locations and negotiate. And as a broker, I get paid a percentage of that overall lease value or a sales transaction,   Keith Weinhold  14:36   well, talking about making decisions in the face of uncertainty. I mean, there it is. Case in point, you put together the architecture of a show like this during the pandemic, during the height of uncertainty. That was a really interesting thing that you said when you talk about how, for example, you probably do want to have a coffee shop located, I would imagine when you're in bound on the right. Side of the road there sort of for am traffic, 100%   Todd Drowlette  15:05   the same reason, like restaurants that are more dinner based business, businesses will be on the pm side the afternoon drive home. Or liquor stores typically like to be on the pm side of the road because people are going home, they pop in and just continue on their way home,   Keith Weinhold  15:20   right? That makes total sense to me. Todd, you do have this great command of real world negotiation tactics, helping to be sure that those prime locations, sort of like we just described, play out and happen from this $2 billion in closed deals, which is a remarkable figure. I'm sure a lot of it has to do with who you work with, who you're negotiating with. Trump was negotiating Manhattan real estate deals, and now that's pretty different, as he's trying to broker a ceasefire agreement among foreign nations. So you've got all these stories, from working with small business owners to multinational brands. So can you tell us about how who you work with changes your approach?   Todd Drowlette  16:04   You have to always know what your goal is, and the more research you know about who you're negotiating with, and the more you understand them, the better you're going to do right. Sometimes winning in negotiation is about winning. Sometimes winning in negotiation is just about not losing so sometimes I have clients that say, Get me that particular piece of real estate. I don't care what it costs me. Just get it under any circumstances. I don't care you have I have other clients like, I represent a clothing chain that's like, similar to a TJ Maxx or Marshalls. They've been around 40 years, called label shopper. They're in secondary and tertiary markets all over the country. They are very inexpensive, and they pay very low rent, and they're opportunistic. So the approach for every single deal is completely different on depending what the person's trying to do, but the tactics always the same. I always try to, as a broker, you're in the middle, so I'm always trying to figure out what are the actual deal breakers and what's motivating this side that side, and then you meet somewhere in the middle. And I try to do deals where nobody feels like you bend them over a barrel, you know, and they have a vendetta for 20 years, because it's a very small world in a very long life. So if you really stick it to somebody to the point where they hate you over it, you don't know what's that deal next week or 20 years from now that you really need and find out that person is the kid of the person you really stuck it to, and now, all of a sudden, that deal you need comes back to haunt you from the deal that you won 20 years ago. So I try to like, let people keep their pride intact, and there's a lot of like for just general negotiations. A lot of people negotiate against themselves without even realizing it. So most people fear silence, and I always say, whoever talks first loses. So if I throw out like a number, like if you were selling me something, and I said, I think my top number is $100,000 I will not speak until the other person speaks, because most people are afraid of silence. And if I throw that number out, I'm gonna go, Oh my God, he's not responding. That number is too low, and I'm instantly gonna go, well, maybe I could pay 120 or maybe I could pay 150 I've seen people do it a million times. So when I'm negotiating against people, whatever they say to me, I never respond until they talk a second time, because I wanna see how much line there is in that run before it gets to the end, and whatever number they stop at, that's where the negotiation starts. And so many people do that. They just negotiate against themselves, unintentionally   Keith Weinhold  18:31   get comfortable with silence. Oh, you just brought up so many good points there. Todd, such an important one in negotiating. You sort of touched on it is that successful negotiation is finding out what the other side wants. I might be willing to pay you full price if you give me my timeline, say you get me to the closing table in 30 days rather than 90. So terms often mean more than price. So can you speak more about how to find out what the other side wants and making sure they actually get it while still getting what you need.   Speaker 2  19:03   It depends on person. I mean, generally, this crazy and dumb of an answer as it sounds, is I just ask anyone who's blooming knows I'm a very direct person. If I won't ask you on Monday morning, how was your weekend, if I don't sincerely care how your weekend was, I'm very much a get to the point type of guy, and I find in negotiating, unless I know the person in advance, or I've done research, that there's somebody who likes to circle the wagons and go around I'm kind of a very direct right to the point kind of person. So I'll say, listen, here's things that are important to my client, what's important to you, and let me see if we can work something out that either we both can mutually agree upon and feel good about or if we can't get a deal done, I always say, I'll take a quick no over a long maybe any day. I find most people will tell you like it kind of throws people off, because most people are slick and sly, and they kind of like circle the wagons. I think people, if they like my personality, they'll find it refreshing, because whatever I say or mean is what really what I say or mean, I'm not hiding anything. So when I say, Listen, I have a client. This is what they want. Can we get this done? You'd be amazed when you're candid with people, how directly candid most people are, because it kind of throws them off, and they don't really have any choice but to be honest   Keith Weinhold  20:17   yeah, how weird this guy actually says what he means. It means what he says. A lot of people really aren't used to that type of approach. You're listening to get rich education. We're talking with the star of the upcoming A E show the real estate commission. Todd Drowlette, more, when we come back, I'm your host. Keith Weinhold    Keith Weinhold  20:35   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?    Keith Weinhold  21:08   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,   Robert Helms  22:16   Hi everybody. It's Robert Ellens with the real estate guys radio program. So glad you found Keith Weinhold and get rich education. Don't play your Daydream.   Keith Weinhold  22:35   Welcome back to get rich Education. I'm your host, Keith Weinhold. We're talking with the star of the upcoming A and E show, Todd Drowlette. He's not shy. He will also tell you that he is the most prolific commercial real estate broker in the entire nation, and it's great to have him here. Todd, I know that through all your dealings, again, 1700 deals, it's put you in between a lot of interesting situations. And it sure isn't always about the numbers. Sometimes it's about the story,   Todd Drowlette  23:06   a very interesting story. So I mentioned earlier that I have a client called label shopper, that's a off price clothing chain. I was doing a deal in Oxford Maine, which is a very small town, and, you know, Central Maine, and I called up this time when fashion bug had gone out of business, and we were taking over closed fashion bugs, and they said, You got to talk to Bob. I didn't know who Bob was. Bob gets on the phone. He was the biggest stone Buster you could ever imagine. I'm negotiating the deal with and talking to him, and I realized the guy kind of just wanted to fight, and he had multiple shopping centers that he wanted us to look at. And I'm like, Bob, we have enough time to get up there. And he's like, Oh no, no. I'll send my helicopter down to millionaire in Albany, New York, and I'll pick you guys up. I'll show you my three shopping centers. I'll have you back in the early afternoon. And the same guy, while he said that was literally arguing over a difference of $5,000 on my commission that I wanted for the deals. And like, I go, I'm like, Bob. So I googled the guy, and then I realized he was a billionaire, and he had founded the NASCAR track in Loudoun, New Hampshire. I said to him, I go, I'm going to say something to him, and I'm not going to speak until he speaks. And I literally go, Bob, give me the difference of the five grand on the fees. I go, stick your helicopter. I go, and I'll drive up. And I literally stared at the clock on my wall for 33 seconds. And then finally, he's like, well, well, all right, I'll give you the money. But if you don't like that, you can go to Plum hell. And I started laughing, and I said, Okay, I go. I'll call you on Monday. So I call him up on Monday. Okay, Bob, we're gonna take the deal. We're gonna we'll drive up. And he's like, No, you sob. He's like, I'm sending the helicopter anyway. It's gonna pick you up tomorrow at 9am we end up flying up to his huge estate in Lake Winnipesaukee. We land in this like, looks like Beverly Hills, manicured garden. This guy walks up to me with his son, gets in the helicopter. After he looks at my client, Peter and I, and goes, which one of you two is Jesse? I go, Jesse, I'm like, I'm Todd, and he's Peter. He goes, No, Jesse, James robbing me blind on the commission. We birthed out laughing, and then we were friends ever since, unfortunately, he died recently, but he was, like, the most fascinating, coolest guy I met him. He was in his mid 70s. He went into his 80s, but he was literally a self made guy that, you know, grew up in Connecticut on a tobacco farm. Parents had no money, you know, never went to college, and just the most fascinating guy he could decide on a deal on the back of a napkin with a pencil he always kept in his pocket. So you never know in the world, like who you meet and who you're going to become friends with, and that's just funny stories of really fascinating, interesting people I met in very unlikely places,   Keith Weinhold  25:51   amazing. You just don't know everyone's story when you first meet them. 100% Todd, a lot of your experience has given you insight on how to help develop some of the best real estate technology in order to make deals more efficient. For example, I know you developed a software platform that's soon launching that competes with costar and LoopNet. So tell us more about what you're doing in the real estate technology space and about trends there.   Speaker 2  26:18   So we have software that's the same name as the show the realestatecommission.com it's kind of a category killer. So very, very low monthly price. People can post properties. They can search commercial properties. There's blogs so you can follow up and learn you know about commercial real estate. You can find traffic counts that we referenced earlier. You can run demographic reports and say, Hey, in this particular block, or from this street over to this river, or in one mile or three miles or five miles, how much money does the average person have? What are median incomes? What race are they? What's their education levels? That's all information that exists in the public domain, but software companies charge a fortune for it, even though it's public information. Just to aggregate it, we've put all the information, and we want the information to be inexpensive and available to the average user. The other interesting thing about what's happening right now is the larger companies are kind of asleep at the wheel, where you can buy your way to the front of search results in Google and Bing, the amount of daily searches that are going to platforms like chatgpt and other AI search engines is astronomical, and you can't buy your way to the front of those search engines right now. So if you're up on your SEO search engine optimization game, it's like resetting the clock 20 years that you have another chance to bite at the apple to get customers and clients potentially directly in front of you to your platforms. So it's a really exciting time and software right now.    Keith Weinhold  27:46   That's interesting how consumers have shifted away from Google and some of the more conventional search engines, where deep pocketed people and companies can buy their way to the top. So tell us more about really the opportunity there, because that's really interesting.   Todd Drowlette  28:01   So essentially, if you understand so search engine optimization, SEO, if people don't know what that is, that's essentially you can do things to optimize your apps or your websites that allows people it's how the Internet finds you, so to speak. So there's basically ways that you can put in code that aren't complicated things, but you can also specifically submit those things to directly to chat, GPT and the other platforms, and then they go through and they index your site, and again, they're looking at it, going well, what's the most relevant so if you look at how people are searching and what the terms are, you can figure out those terms, and then you can make sure you come up at the top of those search results. And like I said, a lot of the bigger companies in different industries, from residential real estate to commercial real other things, those people rely heavily on just buying their way to the top of search results. And you can't do that right now. And I don't remember the last stat I saw was about 30 days ago, and it was something insane, like 180 million searches a day are being done on just chat. GPT, so that is a huge market that people can get their way to the top of, where you're not competing directly with a big boy, so to speak.   Keith Weinhold  29:11   Yeah, this is a way for you to get found for sure. Todd, dealing with commercial real estate, we know that that entire industry has been subject to these interest rate resets, where in the residential one to four fixed mortgage rate world, we really haven't been so I'd love to know from your perspective, and being this broker that does all this negotiating from your unique vantage point, how have higher interest rates changed things   Speaker 2  29:39    I'm often told To never make predictions, because you can be wrong. I'm somebody who's made calculated risks my entire life, and I'm not afraid of being wrong. The commercial real estate industry, I think, is about to have a coming to God moment that I think we're three to nine months away from, and the reason for that is, unlike residential loans that are 20 or 30 year. Or 15 year mortgages that are self amortizing. Commercial loans typically have a 20 or 25 year amortization, but only a five year term, or sometimes you're lucky, a 10 year term. And what happened was, when covid drove interest rates down, I have some clients that had interest rates that were 2.5 2.8% and the problem with that is interest rates are now over six so we're coming up on that five year period where you could have the same tenants, the same income, the same taxes, same expenses, if you have to refinance in the next three to six months, and those rates don't drop by at least a point, there's going to be blood in the streets like you've never seen. It's going to make the financial meltdown in 2008 2009 look like a walk in the park because you have so many loans. That's why Donald Trump, even though he's a president, that guy is, was and will always be a real estate guy. He isn't saying why he's doing it, but the reason he's pushing for the Fed so much to drop the rate is because commercial real estate is going to get murdered if the rates don't drop by at least three quarters of a point to a point in the next three to six months. That's why you're seeing the heavy pressure from Donald Trump to the Fed, because there's a lot of commercial real estate guys that have been playing musical chairs, and there's one chair for every 10 people when the music stops. So anyone listening who's only been in one to four in that unit, if you're sitting on cash, you're going to have the opportunity to buy small strip centers, you know, small office buildings, smaller properties where you can get your feet wet, where banks are going to be giving these things back, just trying to get out from underneath them. I'm willing to be wrong. I can be the guy who said it. If something drastically doesn't change the next three to six months, you're going to have major defaults. Another thing nobody's talking about is, for the last year, home loans and credit card default rates have been sky high through the roof, which means the economy is strong, as people are acting like the economy is. It's kind of like the emperor's new clothes or new robe. The economy is walking stark naked down the street, and everybody's pretending that it's wearing, you know, fine linens. And I think the rubber is about to hit the road if interest rates don't drop very quickly.   Keith Weinhold  32:04   Tell us how bad you think it will get. For example, nationally, we've seen apartment building values fall 25 to 30% or more, and some certainly not all, but some office buildings fall in value 80% tell us more. How bad will it get? Who will it be worst for?   Todd Drowlette  32:25   So the problem with a lot of commercial loans. So a lot of commercial loans, the banks are lending money to borrowers based on the credit of the leases of the tenants. Like when you own a residential portfolio, they're looking at your credit score, your assets and liabilities, deciding, okay, we're lending you the money and we have recourse. We're gonna come after you if this doesn't work out. There are a ton in commercial real estate of non recourse loans, meaning the only thing I'm risking as the owner is this property and my down payment. If this goes bad here bank, here's the key back. You can't come after me. Personally. You can't affect my more. This is non recourse. So as those large office tenants go bad, or the economy goes bad, and all of a sudden their credit ratings, of those things drop, you're going to have banks left holding the bag to the tune of hundreds of billions, if not a trillion dollars. It's going to be bad,   Keith Weinhold  33:15   and who knows if the banks will get bailed out. I don't really know if that's the right formula, if that's the right example to set there where we publicize losses and privatize gains.   Speaker 2  33:28   I mean, they might argue it worked in 2008 2009 but even if that's the case, you still have a lot of people commercial real estate's driven by ego. So before the the actual foreclosures that can take one to two to three years to finalize out with the court systems. You still will have people doing short sales. So there will be a big opportunity for people to make a leap into commercial real estate. And guys ahead of me that you know taught me the business always said you make money in real estate when you buy, not when you sell. Anytime you can buy $1 for 50 cents, you buy that dollar. So if the market drops, and you know, that's a great location of a great property that has a good roof, has good mechanicals, is in a great location. If that thing was trading for $4 million and you can buy it for 1.5 million today, that's when you buy and then you write it back up. And you know, there's guys like me, I negotiate and broker for a living, so I have an advantage that I can go out and get the tenants and find the tenants. But there's guys that do what I do, and women that do what I do, all over the country. So people can start aligning themselves with local commercial real estate experts. And maybe it's the time that they can say, You know what, maybe I'll buy a 10,000 square foot office building and give it a try. Maybe I'll buy a two or three unit strip center that has a nail salon or a beauty salon or things in it that Amazon isn't going to come along and knock out of business.    Keith Weinhold  34:52   What sectors are going to have the best opportunities?   Todd Drowlette  34:55   I'm heavy, heavy, heavy on office so I'm a big proponent of reading books that are out of college. Be right. So I love reading books that were written interviewing the robber barons, you know, the Rockefellers, the carnegies, but were written at the time they were still alive. And there's one thing, when you go back to like the panic of 1893 or 2001 you can go back and look at all these things that happen, and things are based on cycles. And one thing I can tell you with absolute certainty is the people who don't panic in times of panic when everything drops and falls apart. They're the people that in the shortest window in a two to three year recovery period where that dollar dropped at 50 cents, and it's just coming back to $1 but they bought it at 50 cents. They're the guys in like every 10 or 15 or 20 years that ride a two or three year upscale when everybody else is panicking, that's when they buy the stocks, that's when they buy the real estate, when it's low, and then they ride it back just to normal. It doesn't have to get better, it just has to go back to sea level. And I think that's about to happen in commercial real estate. And I think office is a great market because it's been getting murdered in the headlines since covid, but in any headline, there's always an opportunity, because that scares a ton of people out and people will fire sale stuff because they think it's bad and there isn't bad real estate, there's bad deals. And if you overpay for something, they're the people who get hurt. If you underpay and buy something in a value, you can make deals other people can't, and you don't take the hits the way other people take the hits. People need to be conservative. So many real estate people are like, Oh, put as little cash into the deal. Borrow as much as you can. Highly leverage, leverage deals, leverage deals. And that's fine when it works, but when it doesn't work. You know, people who could have a $50 million net worth that become broke overnight because they never took the money off the table. To me keep some of that money in, pay down your debt and just increase your cash flow and work off the cash flow. That's always been my strategy. I have friends who make a fortune and they live that high life. I like calculated risks, and to me, I never want the bank to be my boss. I like being the boss's bank, and if you owe them too much money, and especially if people cross collateralize loans and say, this is a great property, but let me borrow against it to buy this property and this property, that can be the domino effect when it goes badly all of a sudden now you put all your assets at risk. I always strongly encourage people to not do that and to keep their loans and to keep their assets separate.   Keith Weinhold  37:18   Yeah, loan terms can certainly be more precarious on the commercial side than the residential side, much of it due to fixed versus variable. History doesn't repeat. It often rhymes, and sometimes in some sectors, you want to be that buyer, when the reaction to you buying is like, are you nuts? What are you doing? Maybe office is at that point. Todd, this has been a great chat about negotiation and industry trends and more. Again, the Real Estate Commission, the show on A E debuts October 12, Todd. Do you have any last thoughts, or maybe a call to action for our audience if they want to learn more about what you're up to?    Speaker 2  37:56   Yeah, if they want to visit the realestatecommission.com my instagram handle is at better talk to Todd and at the real estate commission, and the show begins airing on October 12, on a next day streaming. And I think people, if they have interest in real estate, will find this show fascinating, if not at me at better, talk to Todd and tell me what you think of the show,   Keith Weinhold  38:20   Todd. It's been an engaging chat. Good luck on the TV show. It's been great having you here.   Todd Drowlette  38:25   I would love to come back anytime, and thank you so much for having me. I always appreciate your time. And I love the podcast,   Keith Weinhold  38:31   yeah, and I appreciate that Todd is a GRE fan. It's always great to have celebrity listeners like him, but to me, it's just as special to have you as a listener. What a wide ranging conversation between Todd Drolet and I today. It just shows the breadth of his knowledge. And Drolet is spelled D, R, O, W, l, e, t, t, e. You know, these prominent negotiators, including when we had Chris Voss here, they don't have this disposition of some vicious pit bull. Instead, they come off as reasonable. It doesn't feel hard nosed like using well placed silence that Todd talked about today, he's a pragmatist, and even comes off as likable. See if you can feel that, and video helps here, the video of our chat today might be on our get rich education YouTube channel by now, when you drive around, have you wondered about that? Before? You know that was super interesting about how coffee shops are on the am side of the road, meaning, as you're inbound toward a city center, they'd be on the right side a liquor store on the pm side. You've got to think about how humans interact with real estate. For example, a car wash that's best placed on the. Pm side of the road. I mean, most commuters, they don't leave extra time during their morning commute to get their car washed. They don't want to feel rushed. People are more likely to wash their car after work. So it'll be on the right side outbound, which is the pm side. And let's keep in mind too, that the US and Canada, for better or worse, have car centric cultures. So these things matter here more than they would in, say, the Netherlands, the location of commercial real estate. I mean, it comes down to tax maps and traffic counts and income levels in this AMPM side, and some want to be at a traffic light, you're going to get more traffic if it's already stopped or slowed down, is it across from a university or a hospital or a grocery anchor shopping center that makes it more desirable for a location? So really some interesting demographic and economic considerations there. Todd likes office real estate as return to Office. Policies help somewhat with absorption there. It is not accurate to say that office real estate is dead, perhaps permanently contracted. Is more like it, yes, the scenes from another popular show, the office with Dunder Mifflin in Scranton, Pennsylvania. Those scenes are diminished, but they are going to live on. Speaking of popular shows, check out our friend Todd Drolet in the real estate commission starting October 12 on A E, besides being entertained, it might make a daunting topic like commercial real estate feel somewhat more approachable for you. Big thanks to Todd Drolet. As far as listening to get rich education every week, what you've got to do on most platforms to ensure that you don't miss it is be sure to find the Follow button. Hitting follow will get it delivered until next week, I'm your host, Keith Weinhold, don't quit your Daydream.   Speaker 3  42:08   Nothing on this show should be considered specific, personal or professional advice. Please consult an appropriate tax, legal, real estate, financial or business professional for individualized advice. Opinions of guests are their own. Information is not guaranteed. All investment strategies have the potential for profit or loss. The host is operating on behalf of get rich Education LLC exclusively.   Keith Weinhold  42:31   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 266, 866, you    Keith Weinhold  43:47   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 the upcoming new MBA admissions season. This week, Duke / Fuqua, UVA / Darden and Notre Dame / Mendoza have their Early Action deadlines. Harvard, UPenn / Wharton, Columbia and London Business School have their round 1 deadlines, and Oxford / Said has its Stage 1 deadline. Graham highlighted the upcoming September series of admissions events, where Clear Admit will host the majority of the top MBA programs to discuss Round 2 application strategy. The first session is on Wednesday, and includes Dartmouth / Tuck, Duke / Fuqua, Georgia Tech / Scheller, UPenn / Wharton and UVA / Darden. Signups for this series are here: https://bit.ly/cainsidemba Our second livestream AMA is scheduled for Tuesday, September 23rd on YouTube; here's the link to Clear Admit's YouTube channel: https://bit.ly/cayoutubelive Graham then noted two stories covered on Clear Admit this week. The first looks at the ever-evolving picture of DEI in MBA admissions. The second focuses on a new climate-related program from Duke / Fuqua. Graham also highlighted three MBA admissions tips. The first focuses on the constraints of word and character counts, the second focuses on the optional essay, and the third tip focuses on the importance of avoiding the “comparison trap”. We continue our new series that Clear Admit is publishing this season, which focuses on profiling some of the leading MBA faculty at the top MBA programs. For this week, we have profiles on two faculty from Stanford GSB. We continue our series of Adcom Q&As; this week we hear from Berkeley / Haas and IESE. 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 South Korea, with an undergraduate degree from the London School of Economics. They have a 685 GMAT score and several years of work experience. This week's second MBA candidate is debating on whether to take the GMAT or try to waive the GMAT. The final MBA candidate is a tech product manager, based in New York. They have a 330 GRE. This episode was recorded in Philadelphia, USA 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!

Many women believe that initiating a sexual relationship too quickly will disqualify them from a long-term relationship: no one-night stands! However, this is not true. In today's dating scene, sex precedes commitment. Therefore, functionally all relationships begin as one-night stands: as a single event without the guarantee of a repeat performance. On the other hand, creating arbitrary rules about sex is a great way for women to make dating even harder on themselves. This is how not to find your husband. 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 #marriage

It is a commonly-held belief that men who are not serious about a woman's long-term commitment should leave her be – especially in her 30s. Don't waste her time! However, disqualifying men because they will not comply with a woman's time line is a poor dating strategy. Good things take time – irrespective of when they are begun. This is how women set themselves up to fail: they attempt too many projects and do not give any sufficient time to succeed.  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 #women

Keith discusses the impact of political rhetoric on mortgage rates, emphasizing the importance of central bank independence.   President of Ridge Lending Group and GRE Icon, Caeli Ridge, joins in to explain the benefits of 30-year mortgages over 15-year ones, advocating for extra principal payments to be reinvested rather than accelerating loan payoff.  They also cover the potential effects of Fannie and Freddie going public, predicting higher mortgage rates. Caeli Ridge elaborates on cross-collateralization strategies, highlighting the advantages of commercial blanket loans for real estate investors.  Resources: RidgeLendingGroup.com or call 855-74-RIDGE  or e-mail: info@RidgeLendingGroup.com Show Notes: GetRichEducation.com/568 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:   Keith Weinhold  0:01   welcome to GRE I'm your host. Keith Weinhold, the President has called the Fed chair a dummy and worse. How does this all affect the future of mortgage rates? Also, I discuss 30 year versus 15 year loans. Can you bundle multiple properties into one loan? Then how Fannie and Freddie going public could permanently increase mortgage rates today on get rich education   Keith Weinhold  0:28   since 2014 the powerful get rich education podcast has created more passive income for people than nearly any other show in the world. This show teaches you how to earn strong returns from passive real estate investing in the best markets without losing your time being a flipper or landlord. Show Host Keith Weinhold writes for both Forbes and Rich Dad advisors and delivers a new show every week since 2014 there's been millions of listener downloads in 188 world nations. He has a list show guests and key top selling personal finance author Robert Kiyosaki, get rich education can be heard on every podcast platform, plus it has its own dedicated Apple and Android listener phone apps build wealth on the go with the get rich education podcast. Sign up now for the get rich education podcast, or visit get rich education.com   Speaker 1  1:14   You're listening to the show that has created more financial freedom than nearly any show in the world. This is get rich education.   Keith Weinhold  1:24   Welcome to GRE from Pawtucket, Rhode Island to Poughkeepsie, New York and across 188 nations worldwide. I'm your host. Keith weinholdin, this is get rich education, not to inflate a sense of self importance, but each episode is an even bigger deal than a New York Jets preseason football game. You might have thought you knew real estate until you listened to this show, from street speak to geek speak. I use it all to break down how with investment property, you don't have to live below your means. You can grow your means as we're discussing the mortgage landscape this week. You know, I recently had a bundle of my own single family rental homes transfer mortgage servicers from Wells Fargo over to Mr. Cooper. And that was easy. I didn't have to do anything. The automatic payments just automatically transferred over. And yes, Mr. Cooper, it's sort of a funny sounding name that you don't exactly see them putting the naming rights on stadiums out there, but the new servicer prominently wanted to point out the effect of me making extra $100 monthly principal payments and how much in interest that would save me over time, sort of suggesting that it would be a good idea for me to do so. Oh, as you know, like I've discussed extensively, extra principal pay down is a really poor use of your capital. It's a lot like how in the past, now you've probably seen it like I have, your mortgage company promotes you making bi weekly payments all year, so you'd effectively make some extra principal pay down each year. That way. Don't fall for it. Banks promote biweekly payments because it sounds borrower friendly, it encourages an earlier loan payoff. Well, that actually reduces lender risk and increases your risk. And the whole program can come with extra fees too. It just ties up more of your money in something that's unsafe, illiquid, and with a rate of return that's always zero, since that's exactly what home equity is. As we're about to talk mortgages with an expert today, I will be sure to surface that topic. We'll also talk about the housing market effect of a president firing a Fed chair. When you're living under the rule of a president that desperately and passionately wants lower interest rates, you've got to wonder what would happen if a president just had the power to go lower them himself, which is actually what most any president would want to do, but you almost don't have to wonder what would happen. You can just look at what actually did happen in Turkey. Now, yes, Turkey already did have an inflation problem, worse than us, for sure, but Turkish President Erdogan went ahead and lowered Turkey's interest rates despite persistent inflation. I mean, that's a situation where most would raise rates in order to combat inflation. Well, lowering rates like that soon resulted in substantially higher inflation to the tune of almost 60. Yes, six 0% per year before cooler heads prevailed and the Turkish government was forced to drastically raise rates. But it was too late. The damage was already done to the reputation of Turkey's economy and its everyday citizens and consumers. I mean, that was a painful, real world example of how critical central bank independence is. You've also got to ask yourself a question here, do you really want to live in the type of economy where we would need a bunch of rate cuts? Because when rate cuts happen, it usually results from the fact that people are no longer employed, or we're in a recession, or financial markets are really unstable. So there are certainly worse maladies out there than where we are today, which is with moderate inflation, pretty strong employment and interest rates that are actually a little below historic levels. I mean, that is not so bad. Before we talk both long term mortgage lessons and more nascent mortgage trends today coming up on future episodes of the show here, a lot of info and resources to help you build wealth as usual. Also an A E TELEVISION star of a real estate reality show will make his debut here on GRE.    Keith Weinhold  6:24   Hey, do you like or even live by any of the enduring GRE mantras, like, Don't live below your means, grow your means, or financially free, beats debt free, or even, don't quit your Daydream. Check out our shop. You can own merch with sayings like that on them, or simply with our GRE logo on shirts and hats and mugs. And I don't really make any income from it. The merch is sold at near cost, and it actually took a fair bit of our team's time to put that together for you. So check out the GRE merch. You can find it at shop.getricheducation.com that's shop.getricheducation.com   Keith Weinhold  7:18   today we're talking to the longtime president of ridge lending group. They specialize in providing income property loans to real estate investors like you, and she's also a long time real estate investor herself. I've shared with you before that ridge is where I get my own loans. They've worked with 10s of 1000s of real estate investors, not just primary residence owners, but real estate investors as well as homeowners all over the country, and at this point, she's like a GRE icon, a fixture regularly with us since 2015 Hey, welcome back to get rich education the inimitable Chaley Ridge,    Caeli Ridge  7:54   ooh, Mr. Keith Weinhold, thank you, sir. So good to see you, my friend. Thanks for having me   Keith Weinhold  8:00   opening up that thesaurus tab right about now, I think maybe JAYLEE, why don't we have the chat everyone wants to have? Let's discuss interest rates, starting with the vitriol from Trump to Powell has reached new heights. This year, Trump has called Powell a numbskull, Mr. Too late, a real dummy, a complete moron, a fool and a major loser, among other names. And you know, at times, I've seen Realtors even blasting Jerome Powell for not cutting rates. Well, the Fed doesn't directly control mortgage rates, and it's also not the Fed's job to boost Realtors summer sales. It's to protect the long term stability of the US economy. Tell us your thoughts.    Caeli Ridge  8:48   So this is a rather complicated topic, okay, and there's a lot that under the hood that goes into how a long term mortgage bond interest rate is going to go up or going to go down. As you said, it's not necessarily just the Fed and the fed fund rate, which, by the way, for those that are not familiar with this, the fed fund rate is the intra daily trading rate between banks. So while there is a connection between that and that of the 30 year long term fixed rate mortgage, they are not the same thing. And in fact, statistically, I believe I read this last week, the last three fed fund rate reductions did the opposite to long term rates, right? So we went the other direction. So please be clear that the viral, as you say, of President Trump and what his opinions are about Mr. Powell and his decisions to keep that fed fund rate unchanged for the last several meetings that they've had, I think, is more of a distraction, but that's another conversation overall. I would say that, is he too late? Is he right on time? You know, there's so much data and so many data points that they're looking at, and there's this thing in the industry called a Lag that, in truth, they're not getting the actual data points that they need real time. It's lagging, so the data that's coming out to them today isn't going to be what's relevant and necessary to make changes tomorrow, next month and next week. Most recently, you probably saw in the news the BLS Bureau of Labor and Statistics and the jobs report came in far under what the expectation was. So that might have been the catalyst. I think that will drive Powell and group to reduce that is the overwhelming expectation that the fed fund rate is going to come down by how much. We don't know. Secondary markets are already baking that in, by the way. So when we talk about long term interest rates, I'm starting to see some changes on the day to day. I get access to that stuff, and I'm looking at it daily, the ticker tape of where the treasury bonds and things are. So I'm starting to see some slight improvement to interest rates in preparation of that market expectation, interest rate on the fed fund level will probably reduce. But I think overall, Keith that the Fed is in a really difficult position, because when you think about what really is going to drive the fed fund rate, and then potentially the long term rate, is counterintuitive to what most people or consumers expect, right? They think if the fed fund rate reduces by a quarter of a percentage point, then a long term 30 year fixed should probably reduce by the same amount. It does not go hand in hand like that. Now, while there are trends right, that doesn't happen that way, and more often than not, the worse our economy is doing, the better a 30 year interest rate will be. So in my industry, I'm kind of always playing on the fence, thinking I don't want anything bad for our country and the economy. However, the worse it does, the better interest rates are going to become. And if you've been paying attention, the economy is in decent shape. We're not doing that bad. Inflation is still up, so the metrics that they're using to kind of gage and predict that lag and where we're going to be are not in line to say that interest rates are going to drop a half or a point or a point and a half in the next year to 18 months. Those signs are not out there for me. All of that said, I know that interest rate is top of mind for I mean, I'm on the phone all day long. I like that part of my job where I'm still interfacing with investors on day to day. Big chunk of my day is spent talking to clients, and that is one of the top questions, probably one of the first questions that come out of their mouth, where interest rates? What are interest rates? And what I have sort of started to really form and say to that question is, if interest rates are the catalyst to your success in real estate, you probably need to do a little bit more research, because interest rates should not be the make or break for your success. Well, as a real estate investor   Keith Weinhold  12:45   the Fed has a dual mandate of maximum employment and stable prices. Inflation, though still somewhat elevated, has stayed about the same the past few months. History shows us that the Fed is more comfortable with inflation floating up than they are with suppressed employment levels. To your point about recent reports about us not adding many jobs, and the Fed being concerned about that, the translation for those that don't know is, if the job market is weak, lowering rates, which is what increasingly people think they tend to do later this year. Lowering rates helps encourage businesses. It's more likely that businesses will borrow and expand and hire more people. Therefore, if rates are low now, whether that translates into a lower mortgage rate or not, by lowering that fed funds rate? Yes, there is that positive correlation. Generally, the lower the Fed funds rate goes, the lower mortgage rates tend to go although that isn't always the case. To your point. Shailene, late last year, there were three Fed funds rate cuts, and mortgage rates actually went up, which is somewhat of an aberration that usually doesn't happen that way, but that's the environment we're in. Most people think Fed rate cuts are coming later this year.   Caeli Ridge  14:04   Yeah. And I would say, you know, the other thing too, when we talk about the pressure that the Fed is under right now, specifically, Powell, he's being attacked, fine, and whether I agree or disagree, really important for listeners to understand that the indifference that the Fed is supposed to have right bipartisan, it's not supposed to have a dog in that fight. If it did the calamity, I think what would happen economically in this country would be devastating if other economic powers were to see that our particular financial institutions are swayed one way or another. Politically, that would be devastating to us. So I think Powell has done a decent job at staying the course. He's continued to do what he says, says what he does. So so far, I'm okay. Is he late to reduce rates? I don't know that I'm qualified to say that, maybe. But at the same time, I think that his impartiality has been consistent, and that for that part of it, I'm. Grateful   Keith Weinhold  15:00   for those who don't understand if Trump just told Powell what to do and Powell followed Trump's orders, how does that devastate the economy?    Caeli Ridge  15:09   It shows partiality to or Fieldy to one particular party, right? It's not an independent institution where financial policy quantitative easing, quantitative tightening, all of those different things that are necessary to keep the pistons pumping. It isn't it's very specific to Fieldy and the leader of telling based on potentially ego or other elements that have not a lot to do with fiduciary responsibility.   Keith Weinhold  15:37   If Powell did everything Trump said, I feel like we would have negative interest rates right now   Caeli Ridge  15:43   that could be a problem, especially if the economy and inflation is on the rise, and then you get the tariffs. I mean, there's so much layering to this. I mean, we could go on and on about it, but overall, let me close with this. I think that interest rates are probably on the run, if I had to guess. Now, there's all kinds of variables that could make that statement untrue, but overall, in the next year to two years, I do think we'll see some relief in interest rates, barring any major catastrophe. But again, investors, if your success, if you're tying your real estate portfolio, your real estate investing, whatever modality you're interested in, if you're tying that to an interest rate, and there's a certain number that you have ethereal in your mind, you're going to lose your success in real estate. Interest rate is a component of it, but it should not be tied to your success or failure. You should be able to do the math and look at the differences in real estate opportunities, investment, whether it be long term, short term, midterm, single family, two to four appreciation, cash flow, all those things should be considered, and you will find adequate returns independent of an interest rate. If you're diversifying that way   Keith Weinhold  16:49   there is more evidence that Americans have warmed up and gotten somewhat used to normal mortgage rates. This normalization of mortgage rates, they are pretty close to their historic norms. In fact, a recent housing sentiment survey done by turbo home found that in q1 of this year, 41% of homeowners surveyed said that a 6% mortgage rate was the highest they would accept on their next purchase. Right that was back in q1 today, up from 41%, 52% of respondents now say a 6% mortgage rate is the highest that they would accept. Evidence that people are warming up and normalizing this.   Caeli Ridge  17:30   The other thing too is the pandemic rates. Right? That's been a very hard shell to crack. The people that got these two and 3% interest rates during 2020 2021, part of 22 they're really reticent to let those go, and I think that they're doing themselves a disservice as a result. If you can get a second lean HELOC, okay, fine, but overall, if you're just going to let that untapped equity sit, it's going to be to your disadvantage. If you have any desire to increase your portfolio and your long term financial stability and wealth   Keith Weinhold  17:59   you're listening to get rich education. Our guest is Ridge lending Group President Cheley, Ridge much more when we come back, including 30 year versus 15 year loans. Which one is better and more things that the administration is doing to shake up the mortgage market. I'm your host. Keith Weinhold.    Keith Weinhold  18:15   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 prequel and even chat with President Cheley Ridge personally while it's on your mind, start at Ridge lendinggroup.com. That's Ridge lendinggroup.com.    Keith Weinhold  18:46   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 66866,   Rick Sharga  19:58   this is Rick sharga housing market. Intelligence Analyst, listen to get rich education with Keith Weinhold, and don't quit your Daydream.   Keith Weinhold  20:05   Welcome back to get rich Education. I'm your host, Keith Weinhold. We're talking with a familiar guest this week. That's Ridge lending Group President, Caeli. Ridge wealth is built through compound leverage faster than compound interest. And leverage means using loans. I think most everyone the first time in their life they look at loan amortization tables and learn things like, oh, with a 15 year loan, you pay substantially less interest, perhaps hundreds of 1000s of dollars less interest with a 15 year loan and its lower mortgage rate than you do with a 30 year loan and its higher mortgage rate. But a lot of people don't take that next step and look that Oh, rather than paying down my home loan with extra principal payments, if I just invested the difference, I would be substantially better off down the road. So in a lot of cases, the more sophisticated investor chooses that longer loan duration, the 30 year. That's the way I see it. What do you see? Most of your prefer there.   Caeli Ridge  21:12   It's one of my favorite topics to cover, because there's quite a few layers that I think can all connect. If an individual wants to pay less in interest very easily, I'm going to strenuously advise them to take a 30 year over a 15 year and just simply apply the difference. So let's just start with the applicable version of 15 versus 30 and how it can benefit or harm. Because this is what a lot of times people that go for the 15 year and wanting to pay less in interest. Don't understand, and it's never been delivered to them in a reasonable way, I guess. So just looking at those two, and then we'll get to the strategy of potentially reinvesting those dollars elsewhere. But just look at a 30 year and a 15 year. I am a massive deterrent against a shorter term amortization. I hate a shorter term amortization, because all that's going to do to the individual is limit their ability to qualify later on down the road. And the reason for that is, is that the shorter term, as you had described, is going to yield a higher monthly payment. So when we pull credit for an individual, that's a higher monthly payment that the debt to income ratio has to support, when in fact, if we simply just look at the two side by side, 15 year and a 30 year equal, equal loan sizes. The 15 year is going to have a lower interest rate. It's true, but the amortization is obviously half the amount. We've gone from 360 months, 30 years to 180 months, 15 years. So the payment obviously is going to be much, much higher if you take the payment difference between those two mortgage products and apply it with a 30 year fixed payment. Let's just call it 500 bucks a month, whatever the number is, and you are disciplined to send that extra 500 bucks every single month with your 30 year fixed mortgage payment. You will cross the finish line in 15.4 years, I think, is the average when you run the amortization, so you'll pay a few extra months worth of interest, but whatever, you'll never pay the higher interest that the 30 year has locked at because you've accelerated the payoff of the debt so quickly, and you've maximized your debt to income ratio and future qualifications never take the shorter term amortization. It is to your greatest disadvantage. I hate them. That's part one. Did you have a comment? I can see that your wheels are spinning.   Keith Weinhold  23:24   That is a great answer. If you get the 30 year loan instead of the 15 if you apply an extra principal payment, whatever it would be, call it 500 plus dollars, that you will kill off that loan, that 30 year loan in something like 15.4 years. Yes, and you'll have the lower payment amount for your qualification, going forward, you'll have more flexibility in your life. That's great. I didn't realize the difference 15.4 versus 15 was that small? That's a great takeaway.   Caeli Ridge  23:50   Yeah, absolutely. And the other piece, you kind of just hit on it, the individual's feet are not held to the fire at that higher payment. So let's say it's a rental, okay, whatever. It goes vacant for a month, or a couple months, God forbid, or whatever may be happening. You now get to choose. You are not obligated at that higher monthly payment. You can say, Okay, this month, I'm not going to pay the extra. I don't da, da, da. It's all within your control. So you're killing like four birds with one stone. I really prefer the 30 year amortization for all those reasons. So now let's take it and move into how I believe, and I agree with your philosophy, taking those dollars and applying them, because when we talk about mortgage interest, especially on investment property, okay, it's probably a slightly different conversation when we're talking about somebody's primary residence, home, but for an investment property to take that difference and apply it toward another investment, because the interest remember, you guys, we're investors. We want that Schedule E deduction, that interest deduction, as money goes a 30 year fixed mortgage, even today, as interest rates are elevated beyond the two and three percents that people somehow fixated on, that that's where interest rates should just be forever. You've got Mass. Amounts of interest deduction, so you're paying less in taxes. For that reason, there's so many reasons to stretch out that mortgage on an investment property versus extinguishing that debt, not to mention, you want to constantly be harvesting equity, ideally, pulling cash out. Borrowed funds are non taxable, deploying them, but then taking that extra cash flow and stockpiling it for another investment, whether that just be the down payment or for other things. I just think there's so many better places that those funds can go to produce more wealth than accelerating the payoff of that debt that's benefiting you, from a tax perspective, and several other ways. There's lots of other ways to apply that money. I   Keith Weinhold  25:43   I often ask, why accelerate the payoff on a, say, 7% mortgage interest rate loan, when instead you can take those savings, reinvest them into other real estate, where it sounds preposterous on its face to think of the rate of return that you can get from an income property, but when you add up all the five ways you're paid, appreciation, cash flow, loan pay down, made by the tenant, tax benefits and the inflation profiting benefit on the long term fixed interest rate debt, a return of 20% plus is not out of the question at all. So if it's 20, why would you pay off extra on a seven? That's 13 points of arbitrage that you could gain there by not aggressively paying down a property and instead making a down payment on another income property. Chaeli, when it comes to these type of questions and accelerating a payoff, why do banks seem to encourage that you make bi weekly payments rather than monthly payments, therefore accelerating your principal pay down.   Caeli Ridge  26:42   I'm not sure the reason behind that. I don't know that I've even seen a lot of that from my lens and my perspective. It's definitely not something I ever comment or preach on. But the overall, what's happening there when you do it the bi weekly, so instead of making $1,000 at the first of the month, you make 500 and then 500 right, middle of them on first of the month. What's happening there is, because of the way the annual calendar goes, it ends up being an extra payment per year, right? I think that's the math. Is, when you do it that way, you end up making an extra payment per year, so you can accelerate. And there's you're not doing anything different, necessarily, to in your cash flow, etc. So I don't think there's anything wrong with it. I don't know what the benefit is to the institution that would in communicate that to its consumer. Yeah,   Keith Weinhold  27:27   Yeah, it ends up being 26 bi weekly payments, which has the effect of making 13 monthly payments in a 12 month year, accelerating your pay down. In my experience, it seems that banks encourage this. They contact borrowers. They've contacted me in the past, laying out a welcome mat. Hey, would you like this plan here? And in my mind, accelerating the payoff. We already talked about how that's typically not a good investment. The more you know about the trade off between loans and equity, really, I'm transferring more of the risk onto myself and less they're onto the bank when I accelerate my payoff. So I agree. I'm not interested in doing that at all.    Caeli Ridge  28:06   You know, maybe Keith, it could be, because I people talk about this a lot, those people, and let's say that there are a group of individuals that might benefit. Let's say they're in phase three, right? They're well into retirement. They just want to start paying off. They're not maybe investing anymore. They just want to leave that legacy, perhaps, or whatever their circumstances are, and they don't want to take additional capital and apply it to the principal and lock up those funds and make them illiquid. So maybe, just as an easy sidebar, they just make two payments month versus one. I get a lot of people asking that question. I mean, over the years, I know that like at the closing table, we'll have clients say, Hey, is the servicer going to be set up to accept bi weekly payments? And a lot of times they don't like SLS. I mean, there's a lot of servicers out there that will not accept or don't have the infrastructure to collect those bi weekly so maybe just as a consumer desire out there, the servicers have gotten wise to it, and they just offer it. I can't think of the reason behind why they would promote that to their database. I don't know.   Keith Weinhold  29:09   Another question that I hear quite often, and probably do as well there is about bundling multiple properties into one loan. Can you tell us about that?   Caeli Ridge  29:20   Yeah, that's called cross collateralization. So we're taking residential property, okay, and putting them into a commercial blanket loan. So any combination of single family, up to four unit, five Plex and above is now considered commercial. So it's got to be single family, condo, duplex, triplex, fourplex, right? It's residential property, and they're taking any combination of that and putting it into one blanket loan, cross collateralizing it. Now, I believe the most incentivized way or desire to want to do this is probably for two reasons. One, to free up golden tickets, right? Golden tickets are those Fannie Freddie loans that we talk about a lot. There are 10 of these per qualified individual, if. If someone has maxed out their golden tickets, let's say they've got 12, 1314, properties, they could take five or 10 or 13, whatever the number, and put them into a commercial blanket cross collateralized loan, as long as it's non recourse. That means no personal guarantee is attached to it. The rule per golden ticket will free up all those spaces. So usually this applies to an individual that has a portfolio that has stabilized. This will usually work when the portfolio has had a couple of years to make sure that you've got your consistent tenants and anything that may come up, repairs, maintenance, et cetera, stabilized portfolios and then putting them into that cross collateralization, because the terms are not going to be the same as just a 30 year fixed Okay, especially if you're going to be looking to take cash out and harvest equity that way, that may be a real opportune time to borrow funds. Borrowed funds are non taxable once again, pull the cash out, put it into a non recourse loan. You've got half a million dollars of capital now that you can then go and get a whole new set of golden tickets for expanding your portfolio. So that's something that we focus on for individuals that have maybe maxed out of that that conventional landscape and or are looking to scale and acquire more properties, but they don't want to necessarily look at some of the DSCR loans. They want to get back into the Fannie Freddie box.    Keith Weinhold  31:22   Yeah, so someone could bundle and get cash out simultaneously, potentially, is there anything else that qualifies or disqualifies one for bundling many loans into one like this?   Caeli Ridge  31:35   It's a commercial underwrite. So they should be aware of that. Now, certainly, we're looking at the individual typically in those loans, the underwriting of those loans, the individual's liquidity and credit are most what we're focusing on, but it's about the property in the portfolio, DSCR, that debt service coverage ratio is a big factor. So we're looking at the income against the monthly expense. Generally. That's going to be the principal, interest, tax and insurance on a commercial basis, they throw in the maintenance, vacancy, et cetera, averages. So you want to see, generally speaking, about 1.2 on those when you divide the incomes and the expenses and then otherwise, yeah, LTV might be a little bit restricted on something like that, 70% usually, maybe you can get as much as 75 if you've got a really strong portfolio. But otherwise, for you, individually, liquidity, some liquidity there, and good credit is what is important. As long as the portfolio is operating at a gain, then you're good to go.    Keith Weinhold  32:32   Yeah, that cross collateralization could be really attractive. Well, Chile, we've been in this presidential administration that has shaken things up like few, if any, prior administrations have. One of those things is that they have pushed for cryptocurrency holdings to be recognized as assets in mortgage loan qualification. Now that's something that would probably pend approval by the FHFA and critics cite volatility. I mean, there's been a pattern where every few years, Bitcoin drops 80% before rebounding, and I'm not exaggerating, and that has happened a number of times. And another administration desire is this potential Fannie Mae Freddie Mac merger, or an IPO an initial public offering. Can you tell us what that's about   Caeli Ridge  33:21   let's start with the crypto first, whether or not this, this gets through the Congress and or FHFA, however, that that develops and becomes actualized, that may be different than what the lending institutions decide to take a risk on, right the allowance of that crypto so it even if it's approved and they say that, Yes, that we can use this for asset depletion or reserve requirements, or whatever it may be. I don't know necessarily that you're going to see a lot of the lending institutions jump on board. I think they'll probably have overlays. It's just kind of the layering of risk on the crypto side to ensure that the asset and the underwrite is less likely to default. I don't see a lot of lending institutions that are probably going to jump on that bandwagon immediately. That's probably going to need more time and consistency with that particular asset class. That's the crypto thing. So that's a TBD on the other side, we're talking about conservatorship. So post, oh 809, right? The housing crash and Dodd Frank, if you've not heard of those names before, they're just the last names of individuals that that rewrote that sweeping legislation across all sectors of finance. Once we saw housing and lending implode upon each other, Fannie Freddie, as a result, went into conservatorship. Now what they're saying, what the administration is saying is, is that they are going to say that the implicit guarantee actually, let me back up really, really quickly. I will not take too much time on this so Fannie Mae and Freddie Mac The reason that those products are the golden tickets, as we call them, and we're just focused on investor products right now is because highest leverage, lowest interest rate. And why is it like that? That's because it has a United States government guarantee. Against default. So this mortgage backed security is bundled up with other mortgage backed securities and sold, bought and sold on the secondary market to investors, foreign and domestic. Right? Investors that are buying mortgage backed securities, they know that that paper is secure. If it defaults. We've got the United States government that's giving us a guarantee against default. So that's why it's such a secure investment. If we come out of conservatorship, technically, that would normally mean that you may not have that implicit guarantee. However, the Trump administration and those that are in that space, FHFA, Pulte and all those guys, they're saying that that guarantee should still apply if that happens, if that's how they release this, I don't see anything wrong if they do it without all of the volatility. You know, let's use the tariffs as an example. It was all over the place. It was there, and then it was gone. It was up, and then it was down. It was 30% then it was two right? It was it was just so much, and the markets really had a hard time with it. And as a result, I think a lot of people lost massive amounts of wealth in the stock market because of that. So I think that there is some real benefits to getting the Fannie, Freddie, the GSCs, government sponsored enterprises, out of conservatorship. I think it just opens up for more fair trade in the market. But they have to do it the right way, and as long as they keep that guarantee, that government guarantee, and then they take their time and apply the steps appropriately, I think it could be a good thing, ultimately, for the consumer. Now, if they don't, it could really have devastating impacts, and I think it could even raise interest interest rates higher. I know Trump and folks don't want that, so I think they're mindful of it. That's just kind of the take I get. But we'll see,   Keith Weinhold  36:42   yeah, because that's my preeminent thought with this. Shaylee, if Fannie and Freddie come out of conservatorship, and there's no government backstop on those loans, it seems like the banks are exposed to more risk, and consequently would have to compensate for that, potentially with a higher interest   Caeli Ridge  36:57   rate. You said it better than I did. Yes, I get too technical when I go down those rabbit holes. That's exactly right. I do not think that they will go down that that path without that implicit guarantee. I expect, if this thing comes to fruition, I expect that that guarantee will be there.   Keith Weinhold  37:13   Yeah, it does seem likely, with as much administration concern as there is about the housing market and the level of mortgage rates and all kinds of interest rates out there. Well, JAYLEE, this has been a great, wide ranging conversation all the way from strategy to what the administration is doing in interfacing with the mortgage market. If someone wants to learn more about you and your products, tell us what you offer, including your very popular all in one loan there at ridge.    Caeli Ridge  37:41   Ooh, thank you for teeing that up. Yeah, especially right now, when people have a lot of concern about interest rates right or wrong, the all in one is a very unique product that removes that fear. It's a way that investors, especially can take control of their equity, pay less in interest, and sometimes hundreds of 1000s of dollars less in interest, while maintaining equity and flexibility and liquidity. Cannot say enough about this product. The all in one. First lien HELOC is my very favorite. For the right individuals, we've talked about it many, many times. They can find us talking about it all over YouTube. You and I have quite a few conversations about that. So that and so much more, guys. So the all in one, you've got the Fannie Freddie's, our debt service ratio products, our bank statement loans, our asset depletion loans, ground up construction bridge loans for fix and flip or fix and hold. We really run the gamut there in terms of loan product diversity. There's very little we can't do for real estate investors. So we're uniquely qualified in that space   Keith Weinhold  38:36   and you offer loans in nearly all 50 states. Now tell us more and how one can get a hold of your company. Yes, we are   Caeli Ridge  38:44   licensed in 49 states. The only state we're not licensed in residentially is New York. We can still do commercial there. But to reach us, you can find us on the web, Ridge lendinggroup.com you can email us info@ridgelendinggroup.com and feel free to call us at 855, 74 Ridge 855-747-4343,   Keith Weinhold  39:04   I'm so familiar with all those avenues because, again, that's where I get my own loans myself. Chaley Ridge has been valuable as always. Thanks so much for coming back onto the show.    Caeli Ridge  39:13   Thanks, Keith.   Keith Weinhold  39:21   A lot of experts believe that stripping Fannie and Freddie's public backing and taking them public, yeah, that that will increase mortgage rates. See, besides there being more risk, like we touched on there during the interview, Fannie and Freddie would face strong incentives to increase profitability, to make an IPO appealing to potential investors, that's just another reason that would probably increase mortgage rates. But if you're the type that truly champions free marketeerism, then the government would get out of Fannie and Freddie and let them IPO, and you would want. To see that happen now you as an investor, you probably resonate with the fact that rather than having to methodically and even painfully save money for your next property, instead you can just borrow funds, tax free, out of your existing property, and that way, you're using more of other people's money, the bank's money, in this case, and less of your own. Similarly, if you avoid aggressive principal pay down well, you would just retain those funds in the first place. As you can see, Chely is really good at taking a deep look at what you've got to work with and helping you lay out a strategy that might make sense, keeping in mind and evaluating your cash, cash flow, equity DTI and loan to value ratios, they offer free 30 minute strategy sessions. You can book one right there on their homepage at Ridge lendinggroup.com Until next week, I'm your host. Keith Weinhold, don't quit. Sure. Daydream.   Speaker 2  41:07   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  41:31   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   Keith Weinhold  42:47   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 the upcoming new MBA admissions season. Cambridge / Judge leads the way with its first-round deadline next week! Graham and Alex plan to host monthly AMA-style webinars, as this new admissions season gets underway. The first is scheduled for this Tuesday, on YouTube; here's the link to Clear Admit's YouTube channel so you can subscribe and not miss any of the streaming: https://bit.ly/cayoutubelive. Graham also highlighted the upcoming September series of admissions events, where Clear Admit will host the majority of the top MBA programs to discuss Round 2 application strategy. Signups for this series are here: https://bit.ly/cainsidemba Graham then noted four admissions tips, which focus on areas of key importance for those targeting the first rounds. These include how to engage with representatives of the top MBA programs, the students, alumni and faculty, and how to show that you have done the research for each of your target programs. We also cover the differences in applying in Round 1 and 2, as well as the importance of understanding who reads your business school applications. We also covered a common myth - the higher the rank of the program, the better the fit for all candidates. Graham also highlighted the new series that Clear Admit is publishing this season, which focuses on profiling some of the leading MBA faculty at the top MBA programs. For this week, we have profiles on two faculty from Harvard Business School and from MIT / Sloan. We continue our series of Adcom Q&As; this week we hear from Dartmouth / Tuck, Cornell / Johnson and Northwestern / Kellogg. 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 India and has a modest undergraduate GPA, with a positive trend. They have not yet taken the GMAT. This week's second MBA candidate has a 740 GMAT, and is from rural India. Scholarships are a key concern from them. The final MBA candidate is from Nigeria and has a GRE score of 332. They have some NGO experience and now work as a chartered accountant. They are targeting a nice spread of MBA programs. This episode was recorded in Anse Saint-Jean, Quebec 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!

There is evidence to suggest that men need respect in a sexual relationship more than they need love. However, many women legitimately don't know how to respect a man. In today's episode, I will lay bare the core of respect, the essential element without which no respect exists: obedience. By approaching the O word, women can learn how to have more peaceful and satisfying relationships with the men of their choosing. 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 #respect #relationship

Since men and women gatekeep different aspects of a relationship – commitment and sex, respectively – the burden of effort over the course of a courtship falls on the one who is actively trying to be let in. It's not just women who perform emotional labor in dating. It take a lot of work for men to initiate the sexual relationship. However, there is an imbalance in getting vs. keeping: the cost of one is not always – or usually – the cost of the other. 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

How does someone with a unique level of access to the MBA world see the current landscape in 2025? Jay Bryant, Associate Director of Business School Relations at ETS, speaks with MBA admissions officers regularly as a part of his role. In this episode, we discuss the evolution of test optional policies for MBA programs in 2025, financial aid trends, how applications are up, and the proliferation of new alternatives to full-time MBA programs. 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 discusses the recent executive order by the White House, which could bring Americans closer to retirement plan access for real estate, private equity, and crypto. He also interviews two listeners:  Luke Frizell, a Navy officer who leverages principles from the show to invest in residential assisted living (RAL) properties, and Dr. Axel Meierhoefer, who uses turnkey properties and agricultural investments to build a diversified portfolio.  Both guests share their strategies and insights into real estate investing.  Resources: Explore the exclusive Texas income property deals available to Get Rich Education listeners, with up to $41,000 in incentives, book a strategy session here. Show Notes: GetRichEducation.com/567 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: Keith, welcome to GRE. I'm your host. Keith Weinhold, it's an episode focused on you as we feature two GRE listener guests today. See how they've leveraged listening to this show into real world, real estate investing action then a property opportunity to announce to you on get rich education.   Keith Weinhold  0:27   Since 2014 the powerful get rich education podcast has created more passive income for people than nearly any other show in the world. This show teaches you how to earn strong returns from passive real estate investing in the best markets without losing your time being a flipper or landlord. Show Host Keith Weinhold writes for both Forbes and Rich Dad advisors and delivers a new show every week since 2014 there's been millions of listener downloads in 188 world nations. He has a list show guests and key top selling personal finance author Robert Kiyosaki, get rich education can be heard on every podcast platform, plus it has its own dedicated Apple and Android listener phone apps build wealth on the go with the get rich education podcast. Sign up now for the get rich education podcast, or visit get rich education.com   Speaker 1  1:12   You're listening to the show that has created more financial freedom than nearly any show in the world. This is get rich education.   Keith Weinhold  1:22   Welcome to GRE from Mannheim, Germany, to Mannheim, Pennsylvania and across 188 nations worldwide. You're listening to get rich Education. I'm your host. Keith Weinhold, you probably grew up playing the board game Monopoly. Well, imagine playing Monopoly and never buying an asset that generates income. What if you just went around the board collecting $200 giving your money to the rich and trying to stay out of jail. Does that sound ridiculous? Well, that's how most people live their lives. We don't do that here at GRE we add real assets that pay us while we own them, and more and more people can potentially soon get exposure to these asset types. The White House recently reported that Trump made an executive order that is bringing Americans closer to getting retirement plan access to real estate, private equity and crypto. I mean, think about what that could do to overall real estate demand, pushing up prices. It could make the industry boom. Sort of how the advent of 401, KS helped the stock market boom. Also, another development is that in order to qualify for mortgage loans, crypto could soon be used as an asset in your mortgage qualification. That's per the FHFA, and that's what they're moving toward. Now there's been a lot of novel information and developments and stories like that this year, as we're in a presidential administration that shakes up all kinds of status quo policies, from foreign wars to tariffs to us real estate. Journalistically, it's important to be accurate and avoid misinformation and false news as the AI era is near its nascency. Still, you have got to be increasingly cautious about where you get your information. I got a stark reminder of this recently, now former presidential candidate and HHS Secretary, Robert F Kennedy Jr and I recently did a stair climber workout together at a gym. You probably know that RFK Jr leads the MaHA movement make America healthy again, which I support, and much like me, he's an avid fitness enthusiast, and that's the kind of stuff that we talk about. Well, there are now some photos of RFK, JR And I out there exercising together, something that's okay with me. I'm even proud of that. I shared one of those on my social media myself. He and I don't talk politics or vaccines or even diet or just exercise enthusiasts. That's what we talk about. That's our common ground. Well, a Facebook post of RFK JR and I exercising together, and here's where the terribly irresponsible misinformation comes in. Meta AI has a one touch link from there to what they call Weinhold and RFK Jr collaborations. Here's how it reads. I'll read it all word for word, and so much of it is false. Keith Weinhold and Robert F Kennedy Jr have a close friendship that has garnered significant attention. Keith Weinhold, a businessman and podcaster, has been a vocal supporter of Kennedy's work and advocacy their friendship has been built around shared interests and values, including their passion for environmental issues and their skepticism of mainstream narratives. Weinhold has often featured Kennedy as a guest on his podcast, where they discuss issues ranging from vaccine safety to corporate accountability. Together, they have collaborated on various projects, including the promotion of Kennedy's book the real Anthony Fauci. Their friendship has been subject to scrutiny, with some critics accusing them of spreading misinformation. That's the end of the meta AI page. What in the world? How do they come up with this stuff? The only shared interest we've collaborated on is fitness at the gym. And you as listener know that he's never been a guest on this show. Now, if his expertise were real estate investing or economics, well, then I might invite him on. How does meta AI come up with this stuff about vaccines and Fauci I mean, that is so far away from my area of focus. I haven't weighed in on any of that stuff. My gosh, this meta AI page, it is published work for all to see, and it is about 90% false. So my point is, there's a lot of information out there about everything from real estate investing to endangered sharks to cooking tomato soup. Be careful. Pay attention to information that has cited reliable sources. And AI in its current fledgling stage, it really muddies the picture. One thing that might help is that open AI's chatgpt Five, which recently debuted, it is better. It's an improvement. For example, if it does not know the answer to a question that you have, it will tell you that it does not know the answer, instead of making up something fake just to give some sort of answer like previous versions. Did we need more of that coming up here on the show. In future weeks, we have vital monolog material from me, as always prominent guests, new guests and repeat guests. Last week, I answered your listener questions here on air, you can always write in with your questions or comments at get rich education.com/contact this week, it's interviewees like you, as I talk to the first of two listener guests.   Keith Weinhold  8:17   He has been an avid GRE listener for a few years, and says that he shifted from bigger pockets and other content over almost exclusively to get rich education for real estate and market content. He uses the principles taught through GRE to focus on his niche, which is residential assisted living, R, A, l, investments at the single family home level, he owns two single family units that also have ADUs and a handful of Ral units, which has helped him reach his goal of replacing his military income with property cash flow. He is a husband, father of three boys and active duty Navy officer currently stationed in Virginia Beach, Virginia, a buy and hold investor. He began investing in real estate in 2017and now owns a portfolio that includes rental properties in San Diego, five Ral homes in Phoenix and GP stakes in two Ral syndications. He is also the founder of open range capital in the Ral room, there are two platforms dedicated to scaling the Ral model. Again, that's residential assisted living, scaling those across the US. And when he's not serving or investing, you can find him on the lacrosse field, playing, basketball, training, Jiu Jitsu or chasing down any kind of competition. Hey, welcome to GRE. Luke frazell,    Luke Frizzell  9:37   Keith, thank you for the introduction. Appreciate that very kind. And once I started investing in 2017 I got started with the bigger pockets train, and pretty avidly listened to their podcast and taking some action on my own, I actually found your podcast and your website, and it was so much more efficient in the information that I needed to hear. I. Know, and the the time that I could spend actually paying attention to real estate news and the important things that I need to be paying attention to as an investor, that I exclusively and paying attention through your email list and through your podcast, it's always great information. So I appreciate being on and thanks for having me. Keith,   Keith Weinhold  10:18   thanks. I try to keep things nutrient dense around here, Frizzell is spelled F, R, I, z, E, L, L, and look, I know your investing philosophy is strongly influenced by one of GRE most seminal and central mantras, and something that the world first learned right here on this show back in 2015 real estate pays five ways. Tell us about that.   Luke Frizzell  10:42   That is one of the best just mantras for whenever I'm talking to people about getting into real estate, yes. And I literally say, what the five ways that real estate pays, because that's how I heard about it was through you. And I was like, That is such a perfect illustration of why this beats, let's say, the stock market, or why this beats a lot of other investment vehicles, because you're not just getting the cash flow, which is a huge reason why people get involved in it, and that's actually the first thing that I'm scrubbing for whenever I'm looking for an investment. But of course, you're hoping for the appreciation, which I really just count as the cherry on top. And if I'm looking at a market from the macro lens, I'm making sure that the the city is growing, the jobs are coming in, there's a decent population, and at a macro level, that's the first thing you need to do before you dig into a city to make sure it's good to go. When appreciation happens, it's probably because those things are all in the right spot. And you're you're picking the right neighborhood, but just, you know, leverage, and being able to buy with 20% of the full amount down, that's a huge piece. And just the hedge against inflation that you get through a loan all the ways, I'm probably missing one, but that's one of the first things that I say when somebody's on the fence on whether they get into real estate investing is, Hey, these are the five ways I learned it from Keith's website, and I'll point them to you guys. That's how I found residential assisted living was really Yes, I had been an investor in San Diego and had great success there with, you know, the buy, rehab, rent, refinance, repeat, the burn method, and putting those five ways into practice. But what I really wanted, as I was looking towards getting out of the military in a few years was more the cash flow piece. So that's what drew me to Phoenix. I actually heard a podcast where somebody was talking about this strategy where you buy a home and you lease it out to a senior care operator and they are paying two to three times the lease amount that you would pay or get from a single family rental, and yet you're also getting all the benefits of real estate. So it seemed pretty hands off, which checked the box for me on that since I was working an active duty job, and then it was also very high, high cash flow. So that's what got me into residential assisted living, and has kept me into it, and I've brought a couple partners into what we're doing, and really bringing my partners in is brought us so much further than I would have ever gone myself. The core tenets of five ways real estate pays has definitely influenced my thoughts as an investor and everything that I've done   Keith Weinhold  13:16   yeah, I can't believe more people don't talk about the compelling why for real estate investing? And I think real estate pays five ways. Is the most efficient and comprehensive way of doing that for sure, when it comes to Property selection and adding to your portfolio, like you touched on, I know that you like to say that you don't chase doors, you chase quality, and you have sort of this peace of mind with intentional investing over scale. Can you tell us about that?   Luke Frizzell  13:43   That's a great question. It was really a forcing function that formed my investor mindset was it has to be quality, because I don't have the time as somebody who's doing a full time job that's very time intensive, and sometimes I'm leaving for months on end before I come back and in my spouse works in something completely separately, so she doesn't have time to manage properties and things like that. It was forced upon me to be very efficient with what I invested in, and my wife was not. She, just like me, didn't grow up learning about real estate investing, so they had to really hit bang for buck whenever we made that first investment in order to buy her or get her buy in on it. And when that first rental check came in, I was able to take her out to a sushi dinner and say it was paid for by our our tenants. And that was kind of the first buy in piece Got it, got us in there. But, yeah, I really Chase quality. And we were very fortunate, and got a little bit lucky with the timing of our properties in California with covid and the interest rates we bought to early on in 2017 and then in 2020 before interest rates started going up, before prices got crazy out there. And those have done really well for. For us. But as interest rates continued to rise and as prices on homes continued to rise, I had to keep the efficient piece in the back of my mind. That's when I heard about the senior care investing number one. I was like, hey, yeah, the demographics, it makes sense. There's so many, that demographic of seniors, the boomer generation, reaching, you know, 80 years old, and coming to that time of life where they need care that is not going down. The medical system as flawed as it can be in our country. You know, people are living longer, and we need to house them, and people don't want to stay in a big box facility anymore that feels like a hotel and not personal, and you have a one caregiver to 30 resident ratio. People want more personalized care, like you would get at a private school. At a public school, you get what you get, and you don't throw a fit, which kind of the analogy I make for a facility versus residential assisted living. So what we invest in is the residential level, where you actually buy just a regular house and it may have four or five bedrooms in it, and let's say three bathrooms, and if it's a single story home that has, let's say 3000 square feet, that is a prime home to actually build out into a senior care home. And every state needs these. Every state has different laws and rules and regulations as to what some are going to require, different size door frames, different width requirements in the halls, ramp requirements, of course, for wheelchair access and such. At the end of the day, every state needs more housing for seniors, and it's really going to be an education piece on getting people up to speed. We have five homes in Phoenix doing this, this model. There's a lot of network already available there. Like people love to retire in warm weather. Phoenix is just a hotbed for these residential assisted living homes. So that's where we got started. But when you move into, you know, let's say rural Nebraska, it's not going to be as as prevalent. So you really got to do a lot more networking and education to zoom back to your question about quality over quantity. If you think about scaling to $10,000 per month in passive income, quote, unquote, passive, the way I look at it, if I can have one residential assisted living home that nets $10,000 per month when I talk about the one residential assisted living home that could make net $10,000 per month that would be running the operations yourself, where you have let's say the average resident across America is going to pay 4000 to $6,000 per month to stay in a home like what I'm talking about if One home, let's go with the low end of $4,000 per month has a capacity of 10 residents in the house, then you can have 10 residents at $4,000 per month. So that's $40,000 gross. And then if you the average, if you're running an efficient home, just having straight up staffing costs, that maybe cost you $15,000 per month, and then you have your mortgage and your debt, that takes you another $10,000 per month, and let's say another five for excess costs and food and things, that's $30,000 of expenses. So 40,000 minus 30,000 is $10,000 per month. That's an efficiently run home. But that is not the height of what someone could do with this strategy. We have partners that do $40,000 net per month in this strategy, and that's generally in the dementia care, memory care space. What we did when we started was something called the lease to operator model, and that's a little bit more hands off, actually, I would say a lot more hands off than the actual operations of the home, like what I just said, because if you're doing the staffing and you have the business liability, that's all pretty involved, and there's a lot of education and a lot of networking that you need to do to get to that point. When I got started in this, I did the least operator model, because I was time constrained and I didn't want to actually get involved with the hands on care number one, because I was in Virginia Beach, and the homes that we were buying were in Phoenix, so there was no possible way for me to do that when we bought our first home at 10 capacity, so there's 10 residents that can fit in the home. I found an operator and vetted them and moved them into the house, and they're paying me a lease for five years, so it's somewhat of a commercial lease, but it's a residential home, and I actually got residential insurance on the house. The business owner that is leasing from me has the business liability insurance, and now they're paying me two and a half times what would have been the regular lease amount that I could have gotten for that home. So in that area, they're paying me $8,000 per month on a five year lease, and that goes up 3% per year. However, if I was renting that out like a normal house, I'm. Be getting 2020 $500 per month, every month, on a long term lease.   Keith Weinhold  20:05   That's this way the manager operates it, rather than you, right? So I   Luke Frizzell  20:09   actually empower the manager, or this operator, is what we call them. That's why it's leased to operator. I empower this manager to actually run it themselves. I don't tell them you can't paint the inside of the house. I don't tell them you can't redo the floors when you want. If they want to do that, that's on them, but they owe me that lease amount every month, and I empower them to run the home however they want. What I'm making sure happens is I'm paying for the insurance on the house, and I'm making sure the roof is stable and the walls are not going to collapse. Everything else, from utilities to whatever is on them, and they are a full fledged business owner in there, and hopefully they stay once the five years is up.   Keith Weinhold  20:48   That's a really interesting way to do it, by the way. Just dropping back to your earlier comment, I like how you say your wife doesn't have time to do the property management. I think we both know that we are protecting her standard of living and quality of life when she is not the property manager. Yes, I think it's common knowledge in America that the senior population is growing faster than the overall population. In fact, about four past GRE episodes featured the late great gene Guarino here on the show, a big educator in the residential assisted living space. We've got this aging population, the silver tsunami, the demographics about it are surely undeniable. I think a holdup for some people is that you're merging real estate investing with an active business. However, you've just described something where you're sort of withdrawing from that active business part, getting a leaseholder to pay you two and a half times the market rent, if you just had it as a buy and hold property and having them operated, is that right?   Speaker 2  20:48    Yeah, and I that's obviously a rough I say two to three times. I like to call it Airbnb numbers in a good market, without the stolen paper towels.   Keith Weinhold  20:48   You know what I mean? Like that, the stolen paper towels, the vacancy, the managing a listing, the clean. So   Speaker 2  20:48   you're doing all the you're getting the reaping the rewards of, let's say, an Airbnb without any headache. Because once you've set that operator in there, and you've empowered them to do it, and you have a rock solid lease, you're wiping your hands clean, I have to reach out to my operators to get an update from them to make sure that everything's going well, because they're not reaching out to me they're running their home. And hopefully, if I've empowered them the right way, and I am allowing them to be successful, and they reach out to me and say, Hey, Luke, I want to actually expand operations. So if you buy another house in this area, let me know, so that I can expand my operations there as well.    Luke Frizzell  21:23   Yeah. Well, do you have any last things to tell us about the residential assisted living for example, I know you have four strategies. For one, to get invested in it.   Luke Frizzell  22:44   That's a good question. And and just to hit on your last point, you're I actually like that. You can mix the real estate with the business, if you have time for that. And many people can do that, especially if you come from a healthcare background, or you're a nurse, that you're just looking to do something out on your own and not just spending your hours working at the hospital. And maybe you're a caregiver that's not paid well enough, and you're overworked, but you know that you could go and do something like that, or you're a doctor, a lot of people can go out and do this themselves, but if you're like me, and you're just a working professional that doesn't have time to get into that, but you do have people skills, and can figure out, like, Hey, I've interviewed about five different operators for this, and I can tell that this one meets all the marks, and they're going to get in there, and I can trust them, and they have a good, extensive experience in this space, and they're going to pay me a reasonable lease. That makes sense for why I'm putting the risk into this. Yeah, I'm going to pick them and get them in there. That's a really good option for people. So that's one of the strategies, is lease to operator. Another strategy is the one we already talked about, which is own and operate. So you're getting the power of real estate. You're leasing from yourself as so it's one entity, one business entity owns the property, one business entity owns the care business, and you're leasing from yourself, and there's some major tax benefits to doing it that way. That's obviously the most time intensive, and you're probably going that route if you want to make this your life's path. The other option is actually, if you don't have the money right now to buy a house, but you have the drive and you have the experience to get into the actual operations, you could just lease from somebody like me and who owns the house and doesn't want to get involved in the operations just yet, and now you can just set up a lease with them. Phoenix is a really good hub. Houston is a really good hub, but cities across America are going to start finding out about this and needing to get this into their advertise, basically because the senior housing issue that we talked about. And then finally, you can passively invest in these through open range capital, we are investing in these, and we're actually developing some memory care homes in Northern Virginia right now. So if you go to open range capital, you'll be able to find opportunities to invest in these as a passive investor. Or there's folks in the rail room who are building. Memory Care Homes in Houston area, and they're offering over 20% returns to people who just want to, hey, you have money, but you don't have time, and you don't have the interest to actually do some of this yourself. But you understand the power of residential assisted living, and the way that this medical problem and the senior care housing issue is growing in our country. Well, you can put your money there instead of doing it yourself.   Keith Weinhold  25:25   These are four distinct strategies for investing in residential assisted living, from the very much hands on to the passive hands off. Oh, this has really been helpful. Why don't you go ahead and let our audience know how they can learn more about the Raoul room and your website.   Luke Frizzell  25:42   Thanks for that. So we saw that there was a huge knowledge gap between real estate investors and business owners. And just anybody who's an entrepreneur thinking about how to get into this. You see the Cody Sanchez's of the world talking about business ownership and all those things you hear about the problem with our senior housing. And if you put those two things together, there's a huge gap in the marketplace. We wanted to educate people on this, because when we got started, there was a lot of unknowns, and it's really hard to sift through all the confusion about, you know how to get licensed. How do I know how many people I can fit into my home and actually care for? How do I find operators? How can I learn from other people who are actually doing this across the country and figure out which market to get into? So we wanted to combine all of that and have a network of people who know how to find these homes, know how to get you started in doing these and of course, we've been learning along the way as well, and that that was part of our goal as well when we started the Ral room. But we have a community of over 115 people. At this point, you can go to the ralroom.com r a l room.com and find out more. It's a great opportunity to learn about what it is. We have freebies in there about how to get started, from one to 10 step guide, and we even have a free podcast called The Ral room podcast. So tune into that. If you haven't done it yet.   Keith Weinhold  27:04   This has been informative, terrific stuff from Luke Frizzell. The audience will benefit from your point of view. Thanks for your time and intention today.    Luke Frizzell  27:14   Yeah, absolutely, Keith. Appreciate you.   Keith Weinhold  27:17   This was our first of two GRE listener guest profiles. We've got the second one when we come back. I'm Keith Weinhold. You're listening to get rich education.    Keith Weinhold  27:26   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.    Keith Weinhold  27:58   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 66866,    Richard Duncan  29:08   this is Richard Duncan, publisher on macro. Watch, listen to get rich education with Keith Weinhold, and don't quit your Daydream. You   Keith Weinhold  29:26   this week's GRE listener guest profile is with an Air Force vet turned real estate investor, and today he even runs the ideal investor show. He's from Germany and lives in San Diego today, using strategies like turnkey real estate, 1031, exchanges and more. He now owns multiple properties in different countries and states. These include the states of Ohio, Idaho, Illinois and Florida, and the nations of Belize, Panama, Spain and more. He's been a GRE listener since episode. 100 which was in 2016 and this helped him connect with income property providers and get started and really growing his wealth through compound leverage, not just compound interest. He ultimately ended up with eight properties in what he calls well performing locations. Hey, it's great to have you here. Welcome to GRE Dr Axel meyerhoffer, hey, Keith, thank you for having me. Meyerhoffer is spelled m, e, i, e r, H, O, E, F, E R. I know that coming on to GRE is something that you've wanted to do for a while, but let's pull back first, what is your doctorate in? And then how do you use that degree or distinction today?   Dr Axel Meierhoefer  30:40   Well, my doctorate is in organizational change and leadership, and the dissertation that I wrote as the study at the end of the degree program was about business coaching and whether it's better for a company to have internal coaches versus external coaches. And when you're diving really deep, my like, I don't know if you're aware, but PhD stands, at least in my book for pilot high and deep, high and deep, right? And so, you know, I really dug into this, and what I learned about coaching is still helping me, even though idea wealth grow is a little bit more mentoring program than a coaching program, but still, the practice of engaging people and getting out of them what they really want to accomplish is valid every day   Keith Weinhold  31:28   when we wonder about what's piled high and deep, I'm sure that thing is knowledge couldn't possibly be anything else. Dr meyerhoffer, tell us what you learned from listening here that piqued your interest?   Dr Axel Meierhoefer  31:43   Well, the one thing is, I had found the book turnkey revolution, by Chris closure, who, for those who don't know he, is the one of the family members of the founders of Memphis invest that is now known as Rei Nation. I'm sure you're very familiar with it, Keith and I've heard of them. Yeah, I read the book, and it was very helpful, but it wasn't very clear, other than his family's company, how do you apply this as a regular investor, which I was at the time. And then I listened to your episodes over and over, talking about how you can use turnkey investing to invest out of state, being far away. And I remember, if I'm not mistaken, that you were in Alaska and investing somewhere in lower 48 and so that kind of got me triggered to look into that.    Keith Weinhold  32:30   You figure, if you're in San Diego, you can invest in Alabama, if a person from Honolulu or anchorage can do that same thing. All right, so you've built up, it sounds like, is it eight turnkey properties? It's   Dr Axel Meierhoefer  32:45   eight turnkey properties. And then I have a few other things, like, I also listen to episodes that you had about agricultural investing. So, yeah, like in Panama, the first investment was in a coffee farm. And then a little later, I also discovered some you would call them, like little cabin, kind of like vacation cabin investments and stuff. So yeah, I've actually learned a lot and benefited, and I always appreciated that, you know, you're not just saying, Hey, here's something you can do, but you oftentimes have a connection or relationship with an organization. And so several times my investments were at least informed, let's say, by GRE,   Keith Weinhold  33:26   yes. And oftentimes I'm investing right next to you, the investor myself, with some of the same GRE marketplace providers. You have eight properties. Are they all cash flowing? Are they all producing positive cash flow?   Dr Axel Meierhoefer  33:41   Yeah. I mean, that's actually one of the things that I wanted from the get go, and that's also part of our idea rights grow a mentoring program to look at properties now. Right now, with the higher interest rates, it's admittedly a little harder to find locations and properties that have a good balance between the quality of the property, the area that the property is in and then also being cash flowing. We have fundamentally for renovated properties. We're still looking for 1% rule. It's harder to find, but you know, as a starting point to say, Should I even consider as long as it's close to that most of the time, the numbers work out, even at seven or eight percentages, you still make at least a little bit of money   Keith Weinhold  34:20   overall. Yes, the real estate deals just aren't as good as they were, say, five years ago, because both rents and prices are up, but rents haven't risen as much as prices have. I still don't know where you're going to find a better risk adjusted return in any investment, though, than with income property bought with a loan.   Dr Axel Meierhoefer  34:42   Yeah, I'm with you on that. And I mean, I remember vividly, not in only in books and other research, that people have this apples to oranges comparison thing going on all the time, right? I always say, Okay, well, tell me if you can buy stocks where somebody gives you 80% of the money, and I already need to put 20 right? What tell me if you can buy stocks and somebody says, Oh, the stock is gonna depreciate in the next 27 and a half years. So, you know, you write some of it off your tax return, and those kind of things. Tell me where somebody gives you money but allows you to keep 100% of the increase in value all these things. I mean, you have beautiful graphics and stuff that you made over time, but when you really try to do apples to apples comparison, there's nothing there. And one thing maybe for the audience, that I think is an important thing to know is, and I know Keith, you have said this so many times, real estate, especially residential real estate and investing, is really the long term game. And that also means to realize, okay, even in times like right now, you might only start with, like, 50 or $100 positive cash flow. But when you look at the longer term, I always say, and I say this to our clients, the first five and maybe right now, it's more like seven years. It's kind of like the hard time of this investment where you just barely break even, where you might be a little disgruntled when you get a maintenance bill and you haven't really built a big reserve yet, because you're still with your first few properties, but when you look at the trajectory, and I can see it now, you know, I've six years in all properties are cash flow positive, the rate that we're getting, even if we only increase rents by 2030, $35 a month, year over year. Like you said, right? You want to train your tenants. When I look at the overall picture, it's basically getting better every year. If you have that in mind, to say, I make an investment. I call, by the way, the point what we want to get to. I call that the time freedom point where your portfolio generates enough cash flow so yet you have a choice to say, Do I go work or do I live off the income? And that is why you still have mortgages, right? So if the listeners ever think, Okay, well, what happens when one after the next, the mortgages get paid off, it's like paradise at that point, right? If you really think of it from a purely cash flow perspective,   Keith Weinhold  36:56   starting is the hardest, because it's clunky to buy your first property, and then it also takes a few years until you really feel the effect of all these wealth multipliers at the same time. You're sort of touching on the third in the inflation Triple Crown, cash flow enhancement, if you only increase the rent three or 4% per year. Yeah. So what it feels like you're only keeping up with inflation, but the fact that your principal and interest payment stays fixed means a three to 4% rent increase might be a 10% cash flow increase. As that compounds year after year, you really begin to feel those effects. But yes, it does take the addition of time, but not decades.   Dr Axel Meierhoefer  37:38   I'm with you. It's just for me, important that anybody who is considering should I get into this right, especially in an environment where people constantly pointing to the fact that the stock market keeps going up, gold is going up, silver is going up, Bitcoin is going up, right? And to me, these are the apples, and they are nice apples, don't get me wrong, right? They're beautiful apples, but we're dealing in oranges, right? And we have these five different things that you keep counting on, and have all kinds of beautiful descriptions about that we get as real estate investors. And it's a choice, right? People can make a choice, and I'm all for diversification, but if you make the choice, then you really have the beginning of building a legacy. And for many people, I find more and more that becomes important to say it's not just for me, like if you were to ask me, it's not just for me, it's also knowing that my daughter will have a much better portfolio than I ever had when I was young. Yeah, our now, like almost two year old grandson, he is going to be safe pretty much forever   Keith Weinhold  38:37   getting started and even after starting for some people, there are certain mindsets that they need to overcome. One of them is getting out of state property. So do you have any thoughts or approaches with adding out of state properties, which is still a foreign proposition to some people?   Dr Axel Meierhoefer  38:56   Well, one thing that I do and emphasize very strongly in our mentoring program is besides the investing and helping people to get the connections to like the turnkey providers and the lenders and the property managers, inspectors and stuff, the other part, and I'm sometimes almost feel, is more important than the investing itself. Obviously, it's kind of a requirement, but the other part is to really as the mentor, help people to develop the mindset of the king or queen of their own empire, or basically the owner of the investing business. And when you think about it that way, I often times portray it in the way look at all the components, all the services that you need for the out of state investor, right? You need the turnkey provider, property management, bank or lender. You need inspectors and stuff. I try to convey to people, we are building an LLC, and that LLC is hiring these people as if they were employees. And if you look at it that way, and you start adopting that mindset. And. You look at their performance like any employer would look at the performance of their employees. If the performance is great, they get praise and the raise. If the performance sucks, you let him go and get another one when you're not going to hang out with the same property management out of state, constantly complaining, not doing their job, not treating the tenants well, not treating your property well. Why would you keep somebody like that? So it's this aspect of building a mindset of, yes, you might have a job, a regular w2 job, but for the purposes of building your real estate portfolio, you are the business owner, and you're hiring all these services. And when that clicks and you start treating the people that you're working with in that way, with respect, but with every expectation that you pay them for their services so they're supposed to perform. That changes, in my opinion and my experience. That changes everything   Keith Weinhold  40:54   comes down to the fact that the team is more important than the property, and a lot of people perhaps overemphasize the geographic location of that property. Location surely matters, but it's just not nearly the most important thing I know. One approach that you take is you have this mantra that underdog properties often outperform hot properties. However, can you speak to that some more   Speaker 3  41:21   Well, I think it has to do with it, with this kind of analogy of Steady as she goes right underdog property, I'm more inclined to look in a nice neighborhood and establish nice neighborhood. I always say, Let's try, with the help of a turnkey provider, to find the ugly duckling in a nice neighborhood and get that renovated and that neighborhood, I'm not a big fan of this term blue color versus white color or anything like that, but if you bring the ugly duckling back to be the white swan of that neighborhood, you have, I believe, a very good probability that that will be a very long time longevity, well respected, well rented, well performing property, rather than, you know, running after the shiny object the most you know, like, I don't want to really open wounds, but I know that a lot of people ran to Austin, Texas, because everybody said, that's the market you gotta be in, Right prices, outrageous rents, looked good for a little while, then the property taxes got adjusted, the market collapsed, and now everybody is whining. I rather have my nice property in Dayton or in Cincinnati, and it's doing steady, as she goes, every month, every year, right? So that's what I meant by that   Keith Weinhold  42:30   a friend and prolific apartment investor, Ken McElroy, who's been a frequent guest on this show, Ken says, look for distressed properties, not distressed markets. There's a lot in that.   Dr Axel Meierhoefer  42:53   Yeah, I'm very much with Ken on that. And it's not just for apartment complexes. I think it fits just as well for single family or duplex triplex fourplex properties? Yeah, we   Keith Weinhold  43:03   want to avoid those distressed markets. It takes a long time for them to turn around, and every property in that market floats up or down with it. Well. Dr meyerhoffer, as we think about the future, you've been around this space for a while now, like you mentioned, you're even helping mentor some others. Where do you think the residential real estate market is headed the next few years? From your perspective,   Dr Axel Meierhoefer  43:27   I really have the feeling it's kind of a little bit like a coil spring that is basically being wound tighter and tighter and tighter. Because people may not agree with me. I think everybody is entitled to their own opinion, but I'm a little bit refusing to believe that the dream and the interest of owning your own property for yourself and your family supposedly has gone away. What I believe is that the circumstances both from a Can I qualify for a loan? Can I afford the price? Can my wages actually work for what I want to accomplish that balance is out of whack a lot right now, but I can totally see when we're looking in the future, that we will see interest rates coming down, properties still being in high demand. And for us as investors, I don't know if you had it on your show before, but I oftentimes being asked, you know, is it still the right time to invest. And my answer is always, like most people in residential real estate, the best time was 20 years ago. The second best time is today. Yeah. And if you adopt this idea of, like, this cold spring getting ready, I mean, just ask yourself people, the last time they really did anything meaningful was basically in 2022 let's just assume it takes another year until interest rates come down, and another six to nine months for the market to really start adjusting. So that takes us to the middle of 2027 that would mean for five years, hundreds of 1000s, if not billions, of people wanted to do something, wanted to move, wanted to get a house, wanted to get a bigger place. They've. Finally can that's kind of the window that I'm looking at with. Not to say there will never be another opportunity. But why would you wait until the market goes crazy when you have it really nice, really calm right now, almost no competition for an owner occupants. It's really an investor market right now. We can pick and we can be diligent, and we can negotiate with the builders and all this nice stuff, no time pressure. They even tell you, I know Keith. They tell you, too, when you have a client, make first sure that the client is qualified before we even talking about price. I remember times when I bought where I was told you have 72 hours to decide if you want it or not and get it under contract because of 100 people out the door who want it, it's the calm before the storm. If you ask me, I can tell exactly when that storm is really gonna hit, but nobody can convince me that if five years the market is basically frozen, that when you release it and open the door, that it's not going to be pretty crazy. Yeah, no, in my opinion,   Keith Weinhold  46:01   that's a good analogy. We're in this period where we have a compressed spring lower interest rates could open up that spring to bounce up, because we have, really, it's all this pent up demand, a pent up demand spring, and we know as mortgage rates fall, millions more people qualify increasing demand for a fixed supply of housing. Well, this has been helpful for the audience. In closing, Dr meyerhoffer, do you have any last thoughts, anything else that you want to share with the GRE audience at all?   Dr Axel Meierhoefer  46:35   Well, the one thing I would say is, you know, you want to work with somebody real estate investing, when you have somebody who has built the experience, like you have Keith with you, the programs and all the partners you're working with, similar to me, over the last 10 years, I think it's a great opportunity to do it now, where you can and have the time to learn and work together and take advantage of this relatively Calm market, because it's probably not going to stay that way. And on the other hand, I also feel that too many people are going like you said, in a slightly different context, after the current shiny object. And I would hate for people that made good money in the last year or two in the stock market to lose it all, because what goes up comes down, especially in these kind of assets, why not take some profits and put it where you really have the long term perspective, like you and I have always suggested for people,   Keith Weinhold  47:29   and is there a good resource where someone can connect with you? Because we've learned that you've taken such an interest in this and you've begun mentoring people. Is it ideal wealth grower?   Dr Axel Meierhoefer  47:38   Yeah. Idealwealthgrower.com we have a button for a complimentary conversation to just book a call. I would assume you agree. You know, when you work with people for longer term and for the personal things like money and investing, you kind of have to have a good relationship. You have to kind of in agreement where you want to go and whether you like each other and have a good energy with each other. So I always feel, let's talk, let's get to know each other. And if we decide we want to work together, then we do that. And if somebody says, You know what I really want to do, apartments. I know people. You know people, we can direct them to. Some people want to do storage units or whatever. So these conversations are really to say, let's get to know each other and see if the goals you have match with what I can help you with. And if that's a yes, then we are off to the races.   Keith Weinhold  48:24   Sort of reassuring in this algorithmic world that we live in, in this highly digital world that people you know really still matter, it's still about your connections with people. Dr Meyer Hopper, it's been great getting your perspective. Thanks so much for coming onto the show.    Dr Axel Meierhoefer  48:42   Thank you, Keith, for having me.   Keith Weinhold  48:49   Yeah, with the first GRE listener guest, Luke, it's just exemplary of how when you own the property now you make the rules, and in this case, you can increase your income multiples by converting your rental property into residential assisted living with the second listener guest, Dr meyerhoffer, I like his analogy of the coiled spring ready to open up as pent up housing demand should get released With lower interest rates. Both guests have a Military Connection, which is merely a coincidence. But today's listener guests were chosen because, unlike others that we've had here, they've each started their own real estate mentoring platforms influenced by listening to this show.    Keith Weinhold  49:35   Now in the preview to today's episode, I let you know that I have an opportunity to tell you about it's been pretty well documented that both Florida and Texas have temporarily overbuilt pockets, and this is where home builders, sometimes desperate, are willing to give you a deep deal. I've discussed Florida and their specific opportunities. What? About Texas? Listen to these deep deals, because Texas, it is one of the most in demand states for real estate investing, but cash flow is often hard to find due to property taxes and rising prices. That's why I'm excited to announce that here at GRE us with our coaches, we found a tiny stash of new construction, yet tenant occupied properties in San Antonio, the Houston suburbs and Dallas suburbs, and they are available exclusively to GRE listeners, four bed homes under 340k here's what's remarkable. There's up to $41,000 to you in incentives. That is 12% back at closing, interest only loan options as low as four and three quarter percent. Yes, they're already leased to long term tenants. This is a 19% cash on cash return potential put these properties into service and get bonus depreciation, like I discussed last week, up to $94,000 these incentives are just massive, and you can qualify with DSCR loans, no tax returns required, no w2 required. I mean, this whole thing is a bigger deal than a Bucky brisket sandwich, something else you'll find in Texas. These are all built either this year or last year. For example, like this beautiful three bed, two bath, single family rental in Conroe, Texas that I'm looking at right now. The sale price is just $279,900 and then you get all those incentives. The rent is almost $2,000 it's 1950 and it's over 1500 square feet on this really good looking property with garage. That's just an example of one of the income properties I'm talking about here. They are off market and they won't be available long. Don't miss out on this best performing Texas inventory we've seen many are already cash flowing, $500 plus a month. Chat with a GRE investment coach, and they'll show you the best picks before this inventory evaporates. Book time with them. It's free. You can do that at GRE investment coach.com. Until next week. I'm your host, Keith Weinhold, don't quit your Daydream.   Speaker 4  52:47   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  53:10   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 266, 866,   Keith Weinhold  54:26   The preceding program was brought to you by your home for wealth. Building, get richeducation.com 

Most men are a woman's option – not her priority. And many are complicit in relegating themselves to this role. In today's episode, I discuss how over-pursuing and over-committing lead to suboptimal outcomes. If you want to get what you want, don't be her option. Giving too much, too soon is why you get left on read. 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 #women

Keith fields listener questions on: changes to realtor fees, down payment strategies for investment properties, and how the new 100% bonus tax depreciation really works, then staggering inflation statistics that motivate you to invest in real assets. He explains that realtor fees have shifted from a 6% listing fee to a 3% seller fee, with potential buyer contributions negotiable.  For down payments, he advises maximizing leverage while avoiding over-leverage.  Bonus depreciation allows for significant tax deductions in the first year, benefiting high-income investors.  Resources: Connect with a recommended cost segregation engineer to take advantage of bonus depreciation here. Show Notes: GetRichEducation.com/566 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  0:00   Welcome to GRE. I'm your host. Keith Weinhold, fielding your listener questions on changes to realtor fees, your down payment strategy, and how the new 100% bonus tax depreciation really works, then staggering inflation statistics that motivate you to invest in real assets today on Get Rich Education.    Keith Weinhold  0:26   Since 2014 the powerful get rich education podcast has created more passive income for people than nearly any other show in the world. This show teaches you how to earn strong returns from passive real estate investing in the best markets without losing your time being a flipper or landlord. Show Host Keith Weinhold writes for both Forbes and Rich Dad advisors, and delivers a new show every week. Since 2014 there's been millions of listener downloads of 188 world nations. He has a list show guests include top selling personal finance author Robert Kiyosaki, get rich education can be heard on every podcast platform, plus it has its own dedicated Apple and Android listener phone apps build wealth on the go with the get rich education podcast. Sign up now for the get rich education podcast, or visit get rich education.com   Speaker 1  1:12   You're listening to the show that has created more financial freedom than nearly any show in the world. This is get rich education.   Keith Weinhold  1:22   Welcome to GRE from Athens, Pennsylvania to Athens, Georgia to Athens, Greece, and with listeners across 188 world nations. You are listening to get rich Education. I'm your host. Keith Weinhold, yeah, you and I are back together for a 566th wealth building week. This is not where you learn how to create wealth through careful sports wagering at DraftKings. We also don't try to do everything like WalMart. We talk about investing actually pretty aggressively yet reasonably and responsibly at the same time. Usually those attributes are opposites, but because we are leveraging the most proven wealth building vehicle of all time, real estate, where you don't have to be the landlord. You don't need to get deeply hands on with house flipping, and you don't need to own property in your local market, though you could. We are not day trading. We are decade trading. There's not a get rich quick element here at GRE, because that doesn't work. We're owning mostly long term rental properties, bringing the financially free beats debt free approach and cognizant that compound leverage Trumps compound interest. And from the day you start focusing on this, you can retire in five to 10 years, and you can take it as far as you want, because unlike many professional sports, the sport of real estate investing doesn't have any salary cap at all. I'm starting off with three of your listener questions today. You write into the show with your questions and what I've got a few that I think could help a lot of you. I answer them here. And as usual, I start with the more introductory question, and then I proceed to the more advanced. The first one comes from Sherry In Sellersburg, Indiana. I know where that is. It's just across the river and to the north of Louisville, Kentucky. Sherry asks when I go to sell my duplex, how have last year's changes in realtor fees affected my sale costs? Yeah, thanks for the question, Sherry. And a lot of people still wonder about this first and a big little technical here, but this benefits other listeners Sherry is that a realtor means that they are a member of the NAR, the National Association of Realtors. So not all people that you enlist to help you market and sell your property are realtors, because not all agents belong to the NAR. In fact, the best catch all term for this person is not an agent. Depending on the state you're doing business in, it's probably licensee, someone licensed to act as your professional intermediary in a real estate transaction. And by the way, the name of an NAR member is a realtor. It is not pronounced real utter it's realtor, like doctor and lawyer. You wouldn't call a doctor a doctor two syllables, realtor, but to get to the crux of your question, Sherry, the changes to realtor compensation took effect almost exactly a year ago. It was last August, and it has less. Of an effect on the industry than many thought. I stated last year that it likely wouldn't affect things much, especially here on the investor side, and it really hasn't. The simplified version is that the old landscape was that when you used to list the property for sale, the listing agent charged you a fee, traditionally, 6% they offered half of that to any cooperating broker that brought the buyer to you. That was simple, and that worked for decades. That changed one year ago now, when any realtor or really licensee, when they work with you, now they simply contract with you for their fee, only like 3% as a seller of the property, you no longer have an obligation to pay for the buyer side agent as well, like you used to. But when you sign a listing agreement, you can indicate that you may be willing to concede and give an allowance to the buyer when they engage a licensee on their side to help them purchase your property. So Sherry, your voluntary contribution to the buyer side is negotiable, and it's part of the offer that the buyer presents to you. Now that's what you'll see as the seller and what you should expect as a buyer. The new landscape is that buyers negotiate a personal service agreement upfront with their licensee. Their service isn't free. I mean, these people can't work for free, and the buyer side licensee acknowledges that they will try to negotiate to get the seller to pay that fee. So Sherry, in reality, that's still what often happens. So the seller still pays that fee. In the end, the reason why is that not only is this traditional, but buyers cannot normally afford to pay for their own representation on top of their down payment and closing costs. They're often spread pretty thin already, but sellers can typically afford it. They have the upper hand financially in the form of equity in the property. And here, when you're buying properties at GRE marketplace, you don't have to pay any of those fees. We use a direct model without a licensee. So that's sort of the short version of the change, and why. I hope that helps sherry. It's a good question. Even licensees are struggling with the new rules.    Keith Weinhold  7:38   The next question comes from Jezebel in Yonkers, New York. Jezebel asks, what is the ideal percent down payment that I should make on a rental property? I'm trying to figure out the trade off between debt level, cash flow, leverage and risk. I'm still trying to get past the mindset that paid off property is best. All right, that's Jezebel's question, and Jezebel The short answer is that you want to make the smallest down payment possible while avoiding over leverage. Over leverage, meaning that your monthly payments are so big that you struggle to make them. Now, many investors that buy rental property, they're going to make a 20% down payment on a conventional loan for a single family rental. At last check on duplexes and up the down payment has to be at least 25% now you can make a down payment as low as 15% at least on a single family rental, although you would then be subject to an extra fee a PMI premium. Now, why would one do such a thing for the leverage? Because leverage is almost seven to one at 15% down, but you've got to balance that with a PMI premium. Run the numbers and see what works for you. Now, since you can make just a 20% down payment on a single family rental, conversely, why would you put 25% down? Your leverage position would slide from five to one down to four to one, where you can often get a slightly lower interest rate if you put 25% down. But when you run the numbers, you'll find that it's often better to maintain strong leverage and only put 20% down. Now, Jezebel, as soon as you start putting 30% down on a property that is questionable at 30% or more, because at that point you really have to start asking why the rate of return from home equity is always zero. It actually makes your risk go up, like I've discussed extensively before, with 30% down, your leverage ratio has been cut to 3.3 maybe the answer could be that 30% down is what it takes to produce. Positive cash flow, but putting 30% or more down is clearly not ideal. Think about how good we've got it as real estate investors here, for example, imagine that you're attracted to a dividend paying stock because it pays a 4% yield, unless you're borrowing on margin, you would need to make a 100% down payment to get that 4% cash on cash return from a dividend paying stock, 100% sunk into this, which isn't even a down payment anymore. That's just an outright free and clear stock purchase. Well, instead, in real estate, when you realize that property prices rise or fall in value regardless of how much equity is in a property, you don't have an incremental increase in your equity growth. It's a quantum leap. And here's what I mean. Jezebel, say you're investing 100k in real estate, that's how much you're going to put into it, and it appreciates at 5%. All right, there are two scenarios with that. Scenario A, you put that 100% down into just one 500k property, well, then you've got just a 25k gain after a year. Instead, with Scenario B, you put 20% down on five 500k properties, then you've got a 25k gain after a year, not just 5k Said another way more powerfully. Scenario A, you only got a 5% return on one property. In Scenario B, you got a 25% return on all of five properties. Wow. That's why the leverage light bulb, when that goes off, that is an incredible flex that you've got. That's why I say it is not an incremental gain in your wealth. It is a quantum leap. So I hope that some of those considerations really help temper your strategy there. Jezebel, that really helps you see how financially free beats debt free and exposes the opportunity cost of a paid off property. Thanks for the question.    Keith Weinhold  12:19   The next question comes from Ed, and he is a personal friend of mine, so he submitted this question by text message to me, but I wanted to address his question here, because I've had other people in my friend group ask me about this. It's about bonus depreciation, what it is. It's about bonus depreciation, what it is and how it works. And what's interesting here is that even those that aren't active real estate investors have been asking me about bonus depreciation. This was part of Trump's OB BBA, the one big, beautiful Bill Act that was signed into law back on the Fourth of July, and I told you about that last month, but because of all the questions about it and the lack of clarity around people's understanding of bonus depreciation, although it gets a little busy, let me give you a real world example with numbers on how bonus depreciation really works and how you can put 10s of 1000s of dollars in your pocket with it the next time you file your taxes. And by the way, my friend Ed that asked this question is a cargo pilot, so he is probably the most well traveled friend that I have. Yeah, through our chats and on social media, I often see that he's in China or Vietnam or a bunch of other places, but he lives in the US. In fact, bonus depreciation is encouraging more people that haven't even been real estate investors previously to newly invest in real estate because it is for properties acquired January, 20, 2025, or later, Trump's inauguration day for his second term or later. And I expect this to be effective for at least four years from that date. I think I mentioned that part to you a few weeks ago. All right, the property has got to be newly placed in service, not something that you bought, say, five years ago. Bonus depreciation does not apply to primary residences. We're talking about rental property, although it does apply to more than just rental property, because it can apply to property used in a business, like equipment, machinery and furniture, but within rental property, it applies to certain components of the real estate, not the building itself. That is on a regular depreciation schedule, and not the bare land. Land cannot be tax depreciated at all. All, neither through regular depreciation or bonus depreciation. You probably already know that a residential building itself can be depreciated over 27 and a half years. That works out to 3.6% of the value each year that can be depreciated or written off on your taxes, right? Well, what if there were portions of your building that you could write off faster, like over just five years, meaning 20% of their value each year you can, and others over seven years, meaning 14% of their value each year you can. And there's 15 year items as well. All right, so what if, instead of all that, you could take those five seven and 15 year components and just write them all off in the first year of ownership, so that you didn't even have to wait the five seven in 15 years, you can, you can write them all off in year one of your ownership of the property, and that is what 100% bonus depreciation is right there. That is in addition to writing off the main building over 27 and a half years. All right, with that understanding generally, let me break this down in more detail. Use an example, and that will also help reinforce what I just taught you, the components of rental property that bonus depreciation applies to, include the stuff that wears out faster than the building, and they are indoor items, appliances, flooring and cabinetry. At times, it can include HVAC systems, all right, that is written off in five to seven years. And then outdoor items known as land improvements, that includes fences, parking lots and landscaping. They're typically written off over 15 years. All right, let's look at a real world example on how this can benefit you. You can use bonus appreciation on single family rentals, duplexes, fourplexes and larger buildings. Let's use an example of an apartment building that you purchase for $1.2 million one we'll say the land value is 200k that is not depreciable. So the building, the depreciable asset, has a value of $1 million you must have performed what is called a cost segregation study in order to break down that $1 million building into those erstwhile faster depreciating components. And no, you cannot do the cost seg study yourself. You need to pay a few $1,000 to hire a Cost Segregation engineer to do this study. All right, let's look at the cost seg breakdown, the result of what he or she finds for you, let's say the personal property that's worth 150k its recovery period is five to seven years, and yes, it is eligible for bonus depreciation. Then you have the land improvements say that's another 50k over 15 years for a recovery period. And yes, it is bonus depreciation eligible. And then finally, you have the structure, or the building worth 800k It has a recovery period of 27 and a half years. No, it is not eligible for bonus depreciation, just the regular type. All right. Well, let me define more of this personal property for you here these five or seven year assets, these are what are eligible for 100% bonus depreciation in qualifying years. So we're looking inside the units, appliances like refrigerators, ovens, dishwashers, microwaves, washers and dryers, also flooring, carpet, vinyl and removable floating floors, not typically hardwood or tile, cabinetry and countertops in some cases, especially if they're not load bearing. Window treatments like blinds, drapes and curtain rods, ceiling fans and light fixtures, they've got to be detached from the structure and furniture, if it's a furnished rental, like perhaps a midterm rental or short term rental. So we're talking about things like beds, couches, in chairs and then in common areas. This five to seven year personal property includes fitness equipment in the gym, leasing office, computers, desks, chairs, clubhouse furniture or TVs, package lockers, like places where your tenants have their Amazon packages, playground equipment and trash compactors. All right, to be clear, that was all personal property that can be depreciated over five to seven years. And then there are those land improvements, the. 15 year assets also eligible for bonus depreciation, sidewalks, fencing, landscaping and irrigation, parking lots and striping, outdoor lighting, retaining walls and signage. Okay again, those are the land improvements, the 15 year items, things that are not eligible for bonus depreciation are the building structure itself, like I mentioned. That includes the roof framing, drywall foundations, and also things like elevators, structural plumbing and wiring and HVAC systems that serve the whole structure. Okay, all that stuff falls in the category of regular 27 and a half year depreciation. All right, so what is the 100% bonus depreciation effect? All right, well, your eligible amount in our example is 150k of personal property plus 50k of land improvements. That's 200k that you can deduct all in one year, rather than having to spread it over five and seven and 15 years. But all in year one of you owning the property that's 200k and again, the remaining 800k structure is depreciated over 27 and a half years. That works out to about 29k a year. This is where it gets exciting. Here we go. So your total year one depreciation, the year that you bought this asset and put it into service, with your bonus depreciation items adding up to 200k and your regular building depreciation at about 29k your total year one deduction is about $229,000 Wow, before I break that down some more and tell you about how it really helps you, let's just be really clear. How did you really get to the 200k of bonus depreciation. All right, let's say the cost segregation study allocated 80k to appliances, flooring and fixtures. Remember, they are the five to seven year items. Another 70k to common area, furniture and office equipment, that was the seven year stuff. All right, so there's 150k or personal property, and then another 50k to that outdoor stuff, the depreciable items known as land improvements, like the parking, landscaping and fencing, those 15 year items, that's how we got to 200k all bonus depreciation eligible, all fully deductible in year One under the 100% bonus depreciation rules, all right, so here it is. Here's the takeaway. You have front loaded an extra 200k of deductions in year one, and you have greatly reduced your taxable income. This is the outcome. This is the result. You just reduced it by 229k between the bonus appreciation and the regular depreciation. All right, so what is the effect of you reducing your taxable income by 229k in one year? Well, if you're in the, say, 32% tax bracket, you keep an extra $73,000 in your pocket. That's $73,000 that you would have had to send to the IRS for the next tax year. But no, you don't, and that is the power of bonus depreciation. That's how it works. Ed, and for all of you that asked about it, I know it's not that simple, and there were a lot of numbers flying around there, it got a little heavy, but that's a complete breakdown. That's why so many people are excited about the return of 100% bonus depreciation, as laid out in law with the one big, beautiful Bill Act, as you can see, it's going to help higher income people more than anyone. If you'd like to get this going and connect with GRE recommended Cost Segregation engineer, or just check and see if it's worth paying several $1,000 for the cost segregation study, we can help you with that. In fact, you might remember that I interviewed him on the show last year, and we will make that introduction for you and help ensure that you have a successful cost seg and bonus depreciation experience regardless of the size of your portfolio, even if you don't own million dollar apartment buildings. You don't have to have a huge income for this to benefit you. It just benefits those people the most. Well, you can set up a time to chat with us about that completely free of charge at GRE investment coach.com I think you know that's where you can also get a completely free strategy session about growing your overall real estate investment portfolio. You might as well do that at the same time at GRE. Investment coach.com. More next, I'm Keith Weinhold. You're listening to get rich education.    Keith Weinhold  25:07   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 prequel and even chat with President Chaley Ridge personally. While it's on your mind, start at Ridge lendinggroup.com. That's Ridge lendinggroup.com.    Keith Weinhold  25:39   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 66866,   Blair Singer  26:49   this is Rich Dad, sales advisor, Blair singer. Listen to get rich education with Keith Weinhold. And above all, don't quit your Daydream.    Keith Weinhold  27:07   welcome back to get rich Education. I'm your host, Keith Weinhold, if you have a listener question that you'd like to have answered on air, get a hold of us at get rich education.com/contact that's where you can either leave a voicemail or write in to us. I'd like to tell you the frequent guests that we have here on the show, all from the rich dad school, if you will, are going to be speaking in person at Penn State University in just a few weeks. Here it is on the 29th of this month. Yes, an event you can attend in person. It's going to be Robert Kiyosaki, Garrett Sutton and his son Ted Sutton and Tom wheelwright, the four of them speaking live and in person, sponsored by Penn State's Borrelli Institute for real estate studies. The event is named Rich Dad revealed Real Estate Wealth and wisdom. If that's of interest, look it up and check it out. From listening to the show and being a savvy investor that's inflation aware, you know that the mission is to turn a really fake asset, a conjured into existence asset, like $1 convert that into a real asset. Here is some astonishing clarity on why. That's the mission in this could leave you flabbergasted. Since 1980 The United States has one and a half times more homes, two times more gold today, and 42 times more dollars today. My gosh, that is almost laugh out loud material here. Yes, since 1980 the year that Jimmy Carter was president and Star Wars, The Empire Strikes Back, was the top grossing movie. The US has 56% more residential housing units today. So basically, since the year that Darth Vader told Luke Skywalker, I am your father, there are about one and a half times more homes, twice as much gold mined and brought into existence, and 42 times more dollars created out of thin air for the future, all of these trends are expected to continue at roughly the same trajectory and proportion to each other. Now, there's a reason that people use precious metals to measure inflation. It makes a particularly good measuring stick because commodities like gold, silver, platinum, palladium, rhodium and copper, they don't change over time. Unlike a car or a bottle of soda, these items are on the periodic table of the elements, an ounce of gold 1000 years ago is exactly the same. As an ounce of gold today. That's why commodities like this are such good long term inflation measuring sticks. And then there's Bitcoin, something that didn't even exist until 2009 there will only ever be 21 million of them in existence, and 95% of Bitcoins, about 20 million have already been mined into existence. So yes, only 5% more will be issued, and it's going to take about the next 100 years to do that. If bitcoins were the size of a quarter, all 21 million of them could fit inside a single shipping container. There's some fixed supply scarcity. Let's listen to this. It's about 30 seconds long, and it's called all there will ever be.   Speaker 2  30:50   Every day the Fed prints an average of $465 million that's 26,000 shipping containers a year, created out of thin air. Maybe that's why the dollar loses value over time. But there's one thing they can never print more of Bitcoin at the size of a quarter. This is all there will ever be. Shouldn't the store of value hold its value?   Keith Weinhold  31:16   That's actually a Coinbase video advertisement that we just listen to the audio of there together. Yes, what they show at the end is a shipping container where, if bitcoin were the size of a quarter, all of them that will ever exist would fit in one shipping container. And like it said, every single year, on average, the Fed prints enough dollars to fill 26,000 shipping containers, just staggering. There are so many dollars now, I'm thinking of replacing my insulation with stacks of ones. Same R value, better liquidity. Pretty soon, we won't count dollars anymore. We'll just weigh them. Welcome to the Zimbabwe starter kit. We have gone from sound money to clown money. That's another way to think of it. Oh, they say money doesn't grow on trees. That's true. It grows in spreadsheets. Now, though, one keystroke at the Fed and poof, there's another trillion just like that. Just hit the control, plus the print key. That's all it takes. All right. Well, let's take a look and see how this manifests in your life as a consumer and as a real estate investor and as a worker since January of 2020 to today, a $100,000 salary has the same buying power as 125k today. Guess over just the last five years, the dollar has lost 25% of its value, and now I'm talking in terms of the CPI here, the consumer price index. So of course, all these figures I'm using could really be higher, like we say, therefore these figures are only the inflation rate that the government is willing to admit to. How does this break down by region? So yes, we have 25% national inflation over five years, but different regions have different rates of inflation, including the region where you are, and this is due to reasons like climate and the composition of industries and even cultural preferences. For example, a southern climate with a lot of air conditioner use spends more on electricity. So if electricity costs are high there, then that region's inflation rate could be higher than that of a northern climate. A place like Omaha, Nebraska is proximous to a lot of agricultural crops and beef, but a place far from where those items are sourced could be more sensitive to changes in beef prices or less sensitive. So over the past five years, here's how much annual inflation in these select cities have experienced again, per the CPI from lowest to highest San Francisco is just 3.3% per year. So in San Fran your 100k salary in 2020 would need to be almost 118k today just to maintain purchasing power. New York City, 3.9% annual inflation over the last five years. Chicago, 4.2% Philly, 4.3 Seattle is at 4.8 Dallas, Fort Worth 4.9 St Louis, 5% Atlanta, 5.1 Miami, 5.4 we're really getting up there now. Phoenix, 5.9 San Diego, 6.1 and the major. Major city with the highest inflation rate over the past five years is Tampa, Florida, at 6.4% annually, Tampa's had some of the highest real estate appreciation over the past five years as well. So this means that a 100k salary five years ago in Tampa would have to be 128k today just to maintain purchasing power due to its 28% cumulative inflation the past five years. But that's the CPI. The real figure could be 40% plus in Tampa. All right, now this information is useful, because even if you believe that the CPI is understated, which most everyone that's looked at it does, as long as the methodology is consistent, you can see the regional variation here. Again, San Francisco was lowest at 3.3 Tampa about double at 6.4% the ever present force of inflation. It's merely surreptitious, until you have a big wave of it peaking in 2022 that everyone noticed. Let's look at how it's contributed to the real estate price run up since 2020 All right, so in the first quarter of this century, you might find this unbelievable in itself, in the year 2000 the median priced Florida home was 195k I mean, that's the median price. Then the investor sweet spot is usually lower than that. It might have been 130k in Florida in the year 2000 so again, 195k in Florida for the median home price as recently as 2000 today, it is 412k gosh, almost as surprising in Texas, It was just 153k in 2000 and it's 338k now, I mean, don't these prices like 153k in Texas, make it seem like the price for a dog house already, New York, 276k up to 576k Also from the year 2000 to today, Washington, DC, 293k up to 643k Colorado, 377, up to 582k Florida, more than doubling 393, up to 833 And Washington State also more than doubling 313k up to 630k my gosh, price increases like this. They're a function of both monetary inflation and appreciation, and it's really a chief reason that the Fed has not cut interest rates this year. It's because the memory of soaring inflation is still much too recent.     Keith Weinhold  38:05   To review what you've learned on this week's episode. Changes to realtor fees have made less industry impact than many expected. The smaller your down payment, the more powerful your leverage fulcrum. The return of 100% bonus depreciation has many investors, and even non investors, interested in adding income property to their portfolio, and staggering inflation is a motivator for adding real assets to your life. Hey, if you would, I would love it, and it would mean the world to me. If you found this episode valuable enough that you would share it with a friend. I put a lot of thought into it, just like I do every single week, friends are probably going to find explanations about realtor fees and bonus depreciation highly helpful this week, you can either share the episode by word of mouth or take a screenshot of this episode and put it on your social media. You might want to write out that it's get rich education in your social posts, because it only shows GRE on our podcast, cover image in some views. Thanks for telling a friend about the show. Until next week, I'm your host. Keith Weinhold, don't quit your Daydream.   Unknown Speaker  39:23   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  39:47   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 Notes. Vacations 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  41:02   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 a couple of webinars that are in the works. Graham and Alex will host an AMA-style webinar, as the new admissions season gets underway on August 26. More details to follow, but it will be livestreamed on YouTube! Graham also highlighted the September series of admissions events, where Clear Admit will host the majority of the top MBA programs to discuss Round 2 application strategy. Sign ups for this series are here: https://bit.ly/cainsidemba Graham then noted a few new publications on the Clear Admit site. We have a post that covers all the top MBA programs' in-person admissions event activities for the month of August. We also cover all the early and Round 1 application deadlines for the top MBA programs in a useful guide, and have a timely admissions tip on how to best prepare recommenders. We continue our series of Adcom Q&As; this week we hear from CMU / Tepper. 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 career in undergraduate admissions, and a side-career in comedy. They want to use the MBA to pivot into the entertainment industry. This week's second MBA candidate is a data scientist who also plays a rock guitar. They have a 695 GMAT. The final MBA candidate is a reapplicant. They have a low GPA of 2.75 but have now completed MBA Math. They do have a super GRE score of 331. This episode was recorded in Philadelphia, USA 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!

Keith discusses strategies to avoid capital gains tax on primary residences, highlighting the potential impact of the "No Tax on Home Sales Act" proposed by Representative Marjorie Taylor Greene.  He explains the current tax exemption thresholds of $250,000 for singles and $500,000 for married couples, noting that 34% of homeowners could exceed the single filer threshold.  Keith also explores the rise of small investors in the housing market, representing 30% of purchases, and the potential of peer-to-peer storage and parking platforms to generate income from underutilized property.  And concludes with a critique of government dependency through Section 8 housing. Resources: You can see the video footage of that section 8 clip here. Show Notes: GetRichEducation.com/565 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, when you sell your primary residence, you need to pay capital gains tax. Learn how to avoid it, then how to increase your rental income with new peer to peer platforms. And finally, a perspective on capitalism and collectivism, with Section Eight housing today on get rich education.    Speaker 1  0:27   Since 2014 the powerful get rich education podcast has created more passive income for people than nearly any other show in the world. This show teaches you how to earn strong returns from passive real estate investing in the best markets without losing your time being a flipper or landlord. Show Host Keith Weinhold writes for both Forbes and Rich Dad advisors, and delivers a new show every week since 2014 there's been millions of listener downloads of 188 world nations. He has a list show guests and key top selling personal finance author Robert Kiyosaki, get rich education can be heard on every podcast platform, plus it has its own dedicated Apple and Android listener phone apps build wealth on the go with the get rich education podcast. Sign up now for the get rich education podcast or visit get rich education.com   Speaker 1  1:12   You're listening to the show that has created more financial freedom than nearly any show in the world. This is get rich education.   Keith Weinhold  1:28   Welcome to GRE from st, Joseph, Missouri to st, Albans, Queens in New York City and across 188 nations worldwide. I'm Keith weinholden. You and I are back together here for another wealth building week. This is get rich education, the Treasury and the Fed keep conspiring to print dollars like crazy, create currency, debasing every single dollar that you're currently holding onto. They are stealing your purchasing power, stealing the value of your work and your grit. It makes dollars pretty fake, since they can just be conjured out of thin air, therefore your job is to convert fake dollars into real assets. That's what you need to do, and this is a strategy that dominates. Like Sydney Sweeney, they print more money, causing inflation, so you have to invest in assets, but then they put a capital gains tax on those assets so that most people never escape inflation. But of course, as real estate investors, we have a strategy to avoid capital gains taxes. Well, I'll talk about that more later.   Keith Weinhold  2:46   I mentioned to you on an earlier episode that I recently attended my high school class reunion in Pennsylvania. It was just a few weeks ago, out in a rural area with a lodge and trees and grass and inflation came up in a conversation between me and a few classmates that was some time before we played cornhole in badminton. I talked about how I sort of enjoy spending money. One classmate replied that he is cheap. I don't really directly respond to something like that, but my preeminent thought when someone says that they're cheap is that life is too short to be cheap. There is a way to guarantee an improvement to your quality of life and your standard of living, and that is spending it can do exactly that invest Well, first, that's an antecedent, and then you can spend now, in the short run, when you're young, living below your means that can make some sense, until you've accumulated some Capital, sure, but when you're age 30 to 35 plus, like my classmates and I are Sheesh, you've got to have yourself figured out better by then than to still be cheap make your quality of life exceed your cost of living, because at least here on Earth, this is your last life ever the risk of too much delayed gratification is denied gratification. So be more frugal with your time than your money. And a lot of people point to external circumstances for their circumstances. Most people wait for the economy to change, not realizing that your mindset is the economy that you live in with each property that you own, you just created another small economy that you are in control of. You are at the top of it. Yeah, you created. Another small economy, the actors in it are you, your tenant, your lender, your property manager, your contractors, your utility companies and more, and you control it all. Most people think wealth is created from high salaries, and they go their entire life, therefore chasing the wrong thing, thinking that wealth is created by high salaries all along it squarely is not you get wealthy by owning things, and you certainly won't get wealthy by being cheap. Now, when it comes to owning things, the government taxes you when you profit on those things during your ownership period of them at sale time through the capital gains tax. And of course, we've talked about the specifics in how real estate investors can completely duck out of that with the 1031 tax deferred exchange. But what about homeowners, primary residence owners, they often have to pay it well. President Trump and Representative Marjorie Taylor Greene recently suggested either removing this tax or reforming it. Now this would require congressional approval, but most members of Congress own their home, so they could very well be in favor of it. And green introduced what is simply called the no tax on home sales act.    Keith Weinhold  6:29   Let's discuss how this can affect you, especially if you're a homeowner, or even if you don't own a home under the current law, which has been in place since 1997 on a primary residence, your first 250k of profit is sheltered from tax if you're single, the first 500k is sheltered if you're married. This is called the primary residence capital gains tax exemption or exclusion. Let's use an example. Say you bought a home years ago for 500k you're married and you sell the home for $1.3 million that's an 800k gain, alright? Since the first 500k is sheltered from capital gains tax, you would therefore have to pay the tax on just 300k on all but the lowest earners, your capital gains tax is 15 to 20% so this means if you sell this home on that 300k of profit, you'd have to pay a tax bill of between $45k and $60k and you might not be done there. You could also be subject to a net investment income tax of 3.8% on top of that, you cannot duck out of this because the 1031 exchange that's only for investment property, not primary residences, like we're talking about today, with home prices on the rise so much over the last five years, how many people exactly could be subject to this tax? 34% of homeowners could exceed the single filer threshold, and 10% could exceed the married filer threshold. Another way to say this is that only about 10% of US homes have more than 500k of equity in them, and it's the homeowners in high cost states that are most likely to be impacted here, New York, New Jersey, Massachusetts, California and Hawaii, states like that. So therefore this tax it acts as a deterrent to people selling their homes. Now, what about, say, an elderly person with a really modest income that bought a home in Los Angeles for $30,000 back in 1970 and now it's worth $15 million well, they actually would not get caught in this net, because, like I said, for those with lower incomes, and it's below about 47k for single or 94k married, the capital gains tax rate is zero. For most of you listening again, it's going to be 15 to 20% one reason for the President and others wanting to cancel the capital gains tax on primary residences like this is to get the housing market moving again and get more homes available for sale on the market. Now these 250k and 500k thresholds, they have not moved since 1997 almost 30 years here, they haven't been adjusted for inflation and the median home sales price, it's jumped about 190% in that time it was 145k back in 1997 it's 435k today. So is. Home prices appreciate, more and more people will get caught up in paying the capital gains tax if your home value goes up by 10k That's another 10k that's subject to this 15 to 20% Capital Gains Tax, with that erstwhile possible net investment income tax on top of that. Well, what can you do about this growing capital gains tax obligation that you'll have that a lot of homeowners aren't even aware of? Well, even fewer realize that it is possible to reduce your home sales profit by adding capital improvements. That means making home renovations to the original purchase price. So therefore that home kitchen renovation that you were thinking about doing, well that might not be as costly as you think, if it reduces your capital gains tax at sale time to reset what we're talking about here, it's been proposed that the capital gains tax be removed when you sell your primary residence. Usually, we discuss tax on investment properties here, but this is a significant proposal, and whether it happens or not, it helps you understand the housing market and how to limit your personal tax hit now see if the tax were removed, it could be costly, because it would decrease the government's tax revenue, of course. So in my opinion, what I think is really going to happen here, a more likely course of action would be that instead of eliminating this tax they would just move up the threshold, say, from 250 and 500k up to 500k and $1 million another angle to keep in mind is that relaxing the tax that helps out wealthy people more than it helps the poor. Now, house flippers want to pay particular attention to what happens here, for instance, simply eliminating capital gains tax on house sales that could benefit those who buy and flip homes for profit. If policymakers want to benefit only homeowners, then they need to parse that out. Otherwise, this would be a huge boon to eliminating the capital gains tax on House flippers an absolute godsend, a windfall. In any case, relaxing the tax would mean that homeowners who move they would therefore retain more capital to reinvest in their next property, which you could use to outbid others. What does that do that would drive up home prices even more. I mean talking about the capital gains tax on primary residences, its proposal to be removed and what this would do to the housing market.    Keith Weinhold  12:50   Before I tell you about an interesting real estate investing niche and trend, let's pull back and look at the national housing market. The NAR recently let us know that national home prices hit yet another all time high. The median existing home price reached a record high of $435,300 and that is a 2% increase compared to last year. At this time, it's also the 24th consecutive month of year over year price increases. And you know, it's funny, I recently talked to an investor based in Phoenix that also does a little investing in Las Vegas. She thought that national home prices were falling because she sees a little price flattening in her home area, which is a little overbuilt. Well, prices are up as much as 10% in some areas of the Northeast and Midwest, because those areas are substantially underbuilt. I mean, for some perspective here just one metro area, New York City, one city with its population of over 20 million people, has twice as many people as both Arizona at 7 million and Nevada at just 3 million combined. One city twice as much as two entire states combined with all their cities. So it's remarkable how little perspective some people have see my geography degree holder perspective strikes once more again, national existing home prices are up 2% year over year, nominally, pretty modest growth, not that exciting. And who is doing the buying of these homes supporting and driving up prices. Well fewer and through of them are first time home buyers due to the well documented affordability strain. More and more of them are investors. Just last week, the Wall Street Journal reported that investors are responsible for fully 30% of the purchases of. Of both existing homes and new construction homes this year, and this is the highest share since property analytics firm kotality started tracking it 14 years ago. Investors are really buying today, and what kind of investors? Interestingly, it is people just like you. The Wall Street Journal went on to report that smaller investors who own fewer than 100 homes are doing most of the buying. That's a big change from when massive private equity firms like Blackstone and Starwood Capital Group dominated the market. So this 30% of single family home purchases being made by investors today. Smaller investors are 25% and larger ones only accounted for 5% so yeah, the little guys, people like you, they can take bigger risks because they don't have boards and shareholders to answer to, and plus builders with too much inventory are offering them discounts that were once reserved only for the bigger fish. They're being passed on now to smaller investors like you. That's exactly what the journal went on to say, much like we discussed on the show here last week, where builders are giving massive discounts.    Keith Weinhold  16:22   Well, you probably heard it said that Airbnb doesn't own any real estate. Uber doesn't own any cars. Facebook doesn't own any content, and Tiktok has no original videos. Yet, they all dominate their industries. Well, when you own the real estate, you can make the rules and leverage some of these connector platforms to help you rent out space that you own and increase your income. Do you own any property that's sitting vacant with nothing going on on the lot, perhaps even overgrown with weeds and shrubs. You can use an app like neighbor that helps you rent them out as parking spaces. Neighbor.com customers request your space, and you can approve it. They can park their cars on your space or RVs, boats, boats, trailers. This can be especially lucrative if you're a few miles from an airport, and then there are platforms that let you leverage them, sort of like the Airbnb of storage. Roughly one out of every nine Americans is renting a self storage unit, and that's not even counting all the people searching for a spot to park an extra car, boat or RV. At the same time, there are millions of garages, basements, attics, driveways and backyards sitting underutilized across the country now, platforms like store at my house, Pure Storage and park for share, that one is spelled Park, the number four and share, they're all stepping up to connect people who have extra space with the people that need it. And the result is that renters can typically save 50% or more compared to them using traditional storage companies they can rent from you, and it's often more convenient for renters, since the space they're renting that might be just around the corner instead of across town. Neighbor.com is one of the biggest players in this space, though, its founder, his name's Joseph Woodbury. He says you'd be amazed at what people will pay to store something if the location is good and the price is right, they have had a tiny three foot by five foot closet in Manhattan that rented out in a snap, almost instantly in Woodbury. He even uses the platform himself, leasing part of his own driveway to someone with a camper. Now, you probably want to check with your HOA before you do something like that. But like Airbnb neighbor, they earn money by taking a cut of the host's revenue. But unlike Airbnb neighbor, hosts average just 16 minutes per month managing their listings now Woodbury, the neighbor.com owner, he calls it the most efficient, least time intensive form of passive income in America. And the peer to peer storage trend, that's become a great entry point for new investors, especially those that aren't ready to buy a full property. But it's also catching the eye of experience real estate investors who want to squeeze more cash flow out of the land that you already own. Some are turning unused sheds into rentable storage units. Others are converting open acreage into long term parking. I know someone that's hosting campers and. RVs on his 10 acres in Florida, and he expects to earn about $100,000 this year alone from that land. And they say it's mostly hands off. And now, whenever he buys he looks for acreage plus a home so that he can generate multiple income streams from one property. Well, can this peer storage and parking shake up the $500 billion self storage and parking industry the same way that Airbnb rattled the hotel world? Some think the potential is huge, with national occupancy rates for storage centers hovering around 93% there really is not any sign that the market is oversupplied. In fact, even public storage, that's the company name, public storage, they are the country's largest self storage space operator, even they use neighbor to help lease out their leftover inventory, and so do some REITs that have extra space at their office, retail or apartment properties. And as far as the types of listings, people are getting creative on these platforms. They're monetizing everything from empty barns to church parking lots. Think about how much of the week church parking lots sit vacant to vacant strip mall storefronts, and they're using that as parking so more and more people are realizing that there's hidden value in the real estate that they already own, and you can too. If you own the real estate, you make the rules. So check out those four platforms that I mentioned, if you think it can benefit you to increase the income at your properties in this growing peer to peer storage and parking industry. It was around 2010 when Airbnb really started to take off and really take market share away from hotels, and today, these platforms like neighbor store at my house, peer storage and park for share, are taking market share away from traditional, centralized self storage spaces to review what you've learned so far today, if you're going to Live life full time, you can't be perpetually cheap. Be aware of the primary residence capital gains tax and its elimination proposal. Small investor interest is growing now, making up fully 30% of today's home purchases, and grow your income with Pure Storage and parking platforms coming up next, a viral audio clip that borders on the unbelievable and gives you a new perspective on capitalism, collectivism and Section Eight housing, you'll be flabbergasted. I'm Keith Weinhold. You're listening to Episode 565, of get rich education.   Keith Weinhold  23:00   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  23:32   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 66866.   Kathy Fettke  24:42   you this is the real wealth network's Kathy betke, and you are listening to the always valuable get rich education with Keith Weinhold.   Keith Weinhold  25:00   Keith, you are back inside one of America's longest running and most listened to real estate investing shows. I'm your host, Keith Weinhold, and this is get rich education, the voice of real estate investing. Since 2014 wealthy people's money either starts out or ends up in real estate, we tell you why and show you how. I've got a clip to share with you that gets a little wild. We usually share what I suppose is more cerebral content here, but some real perspective can be gleaned from listening to this. This kid wants to work his mom says, No, you can't, because she'd lose her section eight housing benefit. And apparently, free housing is more valuable than his future. This is about one minute in length,   Unknown Speaker  25:52   not getting no job. If you go get a job, they're going to take my section eight, then you won't be able to get no section eight. You're not going to get no job. They're gonna count your income against my section eight and my link card. You're not working, no. So I don't care what you gotta say. I don't care how you feel. You're not working, you're not going to get a job, you you're not going to school, you're not doing none of that like Ma. I'm saying how I'm supposed to be successful in life, huh? So you basically telling me I gotta I gotta be broke to be successful. I got to be broke so I can get section eight. Government can help you. So the government can help me. So you telling me I can't work, no job, bro. Like, that's like, all my friends got jobs and live and nice houses. So you telling me I got the I got to go through the same thing you went through if you have a house, any of that, they're going to take my section eight. How? What they be like,no, they will look at that and be like, he's doing something. And give me a bigger house. Ma, that's what you told me. I can get off your section eight and apply for my own section eight. Okay, but if you do that, you're gonna have to go the hard way. It's gonna take a long so what? That's what I'm saying. Get on Section Eight. Find you a nice apartment, go get you a link card. You will be fine. You don't have to sit up and work. You don't have to work, no job, if the government is here to help us.   Keith Weinhold  27:11   Gosh, this mom won't let her son work, or else she'll lose their government section eight housing benefit, where taxpayers pay for most of their housing. And by the way, is this real? Is this a rage bait skit? I can't quite tell, but it surfaces some interesting questions. For sure, it is true that section eight housing voucher recipients like her can lose their benefits if the household earns more and exceeds a certain threshold. Gosh, here's the youth that wants to do something and maybe be better and have more than his parents. You should want what's best for your child? Some parents have to beg their children to get a job. This kid is willing to go out and see what he's capable of doing. This eaglet is looking to leave the nest, and you're clipping his wings, and yes, you the listener, are the one paying for their housing. There's no such thing as a free government program, because taxpayers like you and I fund the government section eight housing is therefore tax payer funded at one point. The mom says the government is here to help us. Yeah, this woman is making you poorer. This is where the taxes that get knocked out of your paycheck are going. You're working at a job, spending less time with the people you love, and maybe doing fewer of the activities you love so that she can perpetuate a culture of laziness and government dependency. Another successful entrepreneur or employee is not making you poorer, this woman is making you poorer. Thomas Sowell said it best. He is an author and a senior fellow at the Hoover Institution. He's got a lot of brilliant thoughts. Soul famously said, I have never understood why it is greed to want to keep the money you have earned, but not greed to want to take somebody else's money. That's Thomas Sowell. Now it's possible that this woman couldn't get a job that would pay so much more than the section eight income ceiling that it would be worth her getting one. She said there that she doesn't have a job at all. Maybe she has a disability, but there's a video of this. You can see the video. She doesn't appear to be disabled, but the appalling part is that she's discouraging her son from working now. Understand some section eight tenants do work full time jobs, but they're almost certainly going to be really low paying like, say, washing dishes for a restaurant. Section Eight is supposed to be a temporary program. It's supposed to be helpful, not a hindrance. It is a federal program. It's administered by HUD, and it pays the rent money for low income people, allowing them to rent housing out in the private open market. The program has high demand and some long, long waiting lists. They can be years long, even a decade long, waiting list for Section Eight housing some housing authorities even close their wait lists entirely due to the length the overwhelming demand and understand as well, veterans and the elderly are probably on a wait list, waiting for substantially younger people like her to get off the program to qualify for Section Eight, most families need an income below 50% of the area's median income, and your criminal background check has got to be clear, so you don't need to pass some high bar to get into the program. Now, in reality, a large share of the benefit recipients have an income that's under 30% of an area's median and how much of your rent does section eight pay? Participants typically pay a portion of their monthly income toward rent, usually around 30% they pay around 30% where section eight pays 70% I once run into a section eight tenant, and the tenant paid closer to 20% while the program paid 80% for you. And by the way, landlords don't have to accept section eight tenants. It is voluntary, and it pays landlords about the market rate in hot housing markets with fast rising rents. Well, you probably don't want to accept section eight because a regular, unsubsidized tenant is often going to pay you more in a slow rental market, Section Eight is better for landlords. Now, some landlords like section eight because it is guaranteed rent income, but some don't like it because they say they get low quality tenants. Well, foreign landlord can rent to a section eight tenant, a person called a case manager inspects the unit, and I think I shared with you before that, the first one that inspected mine, they wrote me up because they said that one of my Windows didn't open all the way. I fixed it, and the tenant stayed two years before they moved. But the average duration of time that a tenant spends in the program is six to nine years. It is supposed to be a short term bridge, but often becomes a long term subsidy people get dependent on the handout. HUD tells us that only one in seven families leave the program due to increased income, and there is a strong stigma around section eight housing, for sure. Who knows? To shake the stigma, maybe they will just change the name of the program. That happens sometimes, sort of like how they changed the name of the food stamps program to snap. And by the way, the link card that she mentioned in the video that is for food assistance. That's actually the name of the snap card in the state of Illinois. Oh, dear God bless America, training her kids to live off the government. I almost feel trashy after thinking about this. I'm probably going to go shower next now. Should the minimum wage be high enough that everyone can afford at least a one bedroom apartment, and therefore people wouldn't need section eight? Well, the federal minimum wage is $7.25 it's been stuck there since 2009 the economic commentator Peter Schiff, who I had lunch with a couple times last month, he and his wife Peter, makes the case that there should be no minimum wage at all. That is government intervention in the free market. If you make the minimum wage too high, people get laid off and people get replaced by robots. That's just what's really happened in practice, if a person can only make the minimum wage, they need to get better, and they need to skill up, is what Peter contends. Now, when I graduated college, I would have thought that premise sounded ridiculous. No minimum wage. But the more I think about it and the more I experience life, it does begin to make more sense. The fresh post collegiate me would have said that, ah, a working human being, they deserve the dignity of a minimum wage. That's livable, but some time and perspective has me saying that you are the one that brings dignity to your work, your earning potential and your life. It's not up to someone else to provide you with dignity. You don't lean on the government for your dignity. Learn more, be better, skill up. You'll be dignified, and you're going to earn multiples more than minimum wage. When it comes to the section eight, mom, everyone would like to live at the expense of the state, but few realize that the state lives at the expense of everyone else. If you'd like to see the video footage of that section eight clip that I played and more of my commentary on it. It's pretty interesting that should be available on our YouTube channel now. The channel name is get rich education. What else would it be for the production team here at GRE? That's our sound engineer, Vedran Dzampo , who has edited every single GRE episode since 2014,  QC and show notes. Brenda Almendadadas, video lead, Binaya Gyawali video strategy lead, Talha Mughal, video editor, Sorosa KC and producer me, we'll run it back next week for you. If you'd like the show, please tell a friend about it. I'd really appreciate you sharing it until then, I'm your host. Keith Weinhold, don't quit your Daydream.    36:29   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 if the means 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  36:53   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 266, 866,   Keith Weinhold  38:08   The preceding program was brought to you by your home for wealth, building, getricheducation.com.