Podcast appearances and mentions of naresh vissa

Keith discusses the new power shift in the housing market, where buyers now have more power in the Northeast and Midwest.  Ken McElroy joins us to discuss the current state of the real estate market, highlighting a significant decline in apartment building values and a predicted further drop in home ownership rates, potentially below 60%. They note that while some states, like Arizona, have surpassed pre-pandemic housing supply levels, others, like the Northeast and Midwest, still face shortages. Ken emphasizes the importance of affordability and the shift towards renting, predicting a significant increase in renters. He also shares insights on strategic property investments and the benefits of buying at current market lows. Resources: Use the discount code "KEN10" to get a discount on the Limitless Expo event. Show Notes: GetRichEducation.com/559 For access to properties or free help with a GRE Investment Coach, start here: GREmarketplace.com GRE Free Investment Coaching: GREinvestmentcoach.com Get mortgage loans for investment property: RidgeLendingGroup.com or call 855-74-RIDGE  or e-mail: info@RidgeLendingGroup.com Invest with Freedom Family Investments.  You get paid first: Text FAMILY to 66866 Will you please leave a review for the show? I'd be grateful. Search “how to leave an Apple Podcasts review”  For advertising inquiries, visit: GetRichEducation.com/ad Best Financial Education: GetRichEducation.com Get our wealth-building newsletter free— text ‘GRE' to 66866 Our YouTube Channel: www.youtube.com/c/GetRichEducation Follow us on Instagram: @getricheducation Complete episode transcript:   Automatically Transcribed With Otter.ai  Keith Weinhold  0:01   Welcome to GRE. I'm your host. Keith Weinhold, apartment building values have crashed about 30% in the past few years. Well, it's the opinion of today's qualified guest that it's going to get even worse from here. We'll also discuss why rents in the Phoenix area are declining, and a bold prediction on a collapse in the home ownership rate and the hordes of renters that that will create all today on get rich education.   Mid south home buyers, I mean, they're total pros, with over two decades as the nation's highest rated turnkey provider, their empathetic property managers use your ROI as their North Star. So it's no wonder that smart investors just keep lining up to get their completely renovated income properties like it's the newest iPhone. They're headquartered in Memphis and have globally attractive cash flows and A plus rating with a better business bureau and now over 5000 houses renovated. There's zero mark up on maintenance. Let that sink in, and they average a 98.9% occupancy rate, while their average renter stays more than three and a half years. Every home they offer has brand new components, a bumper to bumper, one year warranty, new 30 year roofs, and wait for it, a high quality renter. Remember that part and in an astounding price range, 100 to 180k I've personally toured their office and their properties in person in Memphis, get to know Mid South. Enjoy cash flow from day one. Start yourself right now at mid southhomebuyers.com that's mid south homebuyers.com   Speaker 1  1:59   You're listening to the show that has created more financial freedom than nearly any show in the world. This is get rich education.   Keith Weinhold  2:15   Welcome to GRE from the Tigris to the Euphrates to the Mississippi and across 188 nations worldwide. I'm Keith Weinhold GRE founder Forbes real estate council member, Best Selling Author, look for my work in the USA today as well, and you are back inside for another wealth building week of get rich education. What's all that really mean? Ah, I'm just another slack jawed mouth breather with a mic here. Before we get to today's guest, Ken McElroy, let me tell you about housing's new power shift and where we're at today. Three to five years ago, sellers held all the power in virtually every market because the housing supply was so miserably low everywhere. So you had more one tours of real estate and few that were willing to sell. That is still mostly true on a national level, but the new power shift is about the fact that the Northeast and Midwest are replete with home buyers. Queues of buyers are lining up for the few available properties like I've touched on before, and look low available housing supply in these areas, the Midwest and Northeast, that's not a symptom of mass in migration. Hordes of people are not stampeding into Buffalo for the nightlife. It's all due to chronic under building, partly from strict regulation, especially in the Northeast. A big part of the power shift, though, is that we now have fully 10 states that are above pre pandemic supply levels, and you'll notice that none of these are in the Midwest and Northeast. The 10 states are Arizona, which we'll talk about more today, Colorado, Florida, Idaho, Hawaii, Oregon, Tennessee, Texas, Utah and Washington. Here in these places, is where the tables have turned, because supply is catching up with demand in those 10 states. So that's where we're seeing softer home price growth and where buyers have the power, these are some of the states where you can find better deals. Motivated sellers and builders in these places will often buy down your mortgage rate, give you closing cost credits or reward you with incentives, like a free year of property management. In fact, our GRE investment coaches guide you for free to exact property addresses where builders will buy down your mortgage rate to 5% today, one of them will even give you a $9,800 post close credit instead, if you so choose. Often do. Those like that are in those 10 states. They're elsewhere too. You can get started at GRE investment coach.com, conversely, 40 states have less for sale housing inventory than they did as compared to pre pandemic times. This is where sellers still have the power some of the most competitive markets in the nation are buffalo, Hartford, Providence and Boston, where more than 10 active home buyers vie for every single listing. That's per Zillow. That's sort of the real estate equivalent of a Taylor Swift or Beyonce ticket queue. At the other end of the spectrum, shoppers have an easier time in Miami with only 2.6 shoppers per listing, followed by Houston at 3.4 New Orleans at 3.5 and San Antonio at 4.3 nationally active listings are up 31% over last year. That's quite a bit, but we're still 12% below pre pandemic, 2019 inventory levels. And is all this good news or bad news? It totally depends on who you are. If you're holding property in the Northeast and Midwest, you're pretty happy about this strong appreciation in the single family space, but in the southeast, appreciation is non existent. There's even mild depreciation, especially in parts of Florida. If you're looking to own more property in the nation's southeast quadrant, you're now enjoying less buyer competition. In fact, sellers are competing for you, and let's avoid being too assuming. Here I've been talking about things on the state level. States are not monoliths. Philadelphia is not Pittsburgh, Seattle is not Yakima. Cities have different supply situations. Even within one city, the scenario varies, of course, really the bottom line here is that today's recovery from 2022 national supply abyss has been an uneven recovery, where builders are frozen, appreciation soars, where builders hustle, buyers win. So if you're looking for deals, find that short queue.    Today's guest is a familiar one to GRE listeners. He's based in Scottsdale, Arizona, which is the Phoenix Metro. Arizona, though it's fast growing, is still just the 14th most populous state, but Arizona is an interesting market, because we're going to get to see what happens when you have an overbuilt condition, like we do there. We'll discuss that market and the national market as well. Get a key gage on the direction of rents, occupancy and prices, first in the single family space, and then we'll talk about apartments. Anyone that's paid attention to real estate that past few years. Knows that when mortgage rates spiked in 2022 single family values have held up, apartment values plummeted due to their interest rate resets. We'll get insight on if the beleaguered apartment space has bottomed out price wise, or if apartment values still have further to fall.    I'd like to welcome in frequent GRE guest, and he was also one of our earliest back in 2015 Ken McElroy. Ken authored a bunch of successful books, both within and outside of the rich dad series. He's also a well known, successful apartment syndicator with over 10,000 units across several states, and he's also in other parts of the commercial real estate sector, including billboards and self storage. So it's really great to have back on the show. Ken McElroy   Ken McElroy  8:57   good to be here, Keith, thank you. It's been 10 years, man, since we've been doing   Keith Weinhold  9:01   this? Yes, 10 years back in episode 25 since you were first here, more than a decade of this. So we know each other's work really well, and it's such an interesting time in the apartment space. I want to get to that later in our conversation today and really find out if you think that the apartment space has bottomed out. But before we do that, let's talk about the single family space. The audience should know that you can meet both Ken and I in person, as we're both faculty members on the spectacular real estate guys Investor Summit C, which is actually underway now. We're recording this just before the summit. So let's discuss the direction of rents and occupancy. We'll get to price later and Ken although most states still have a housing shortage statewide, Arizona's active housing inventory for sale is 24% above pre pandemic levels. That's what realtor.com tells us, and this. Deeply due to a lot of building, a lot of building usually does not bode well for price growth or rent growth. So tell us about rent, direction and occupancy in the single family space in the Phoenix Metro.   Ken McElroy  10:15   There's a bunch of things happening in the Arizona market. First of all, one is we've had a lot of people move here right in the last 4,5,6, years. Yeah, post pre pandemic, post pandemic, all of that. We are a pretty small state. You got Phoenix, got Tucson, you got Flagstaff, a bunch of other small cities that kind of surround some of those. But it's not like a Texas or a Washington or a lot of these California, like a lot of states, and have a lot of cities to draw from. If people move to Phoenix, that's pretty much where they're they start a lot of times, not every time, but and so it's really interesting. When we have net in migration into Arizona, it really moves the needle for most of these cities. Is kind of the point. And so we're always going to be affordable, we're always going to have great weather, it's safe. We got pretty normal politics, I should say, as compared to some of the others, we really do have a growing population. And so what happened? We had a nice run on the real estate. As you do, you know, we had a nice run on the apartments. We had a nice run on the single family that tapered off when the interest rates went up, essentially, right? You know, we actually built too much. We built too many apartments. We built too many houses. When interest rates went up, people kind of pulled back. That's what you're seeing now. So right now, it's a great time to be a home buyer. It's a great time to be a renter in most of those cities in Arizona specifically. And why would that be? It's because they have a lot of choices. So on the single family side, the listings have gone up, and therefore some of the prices have you know, people are starting to negotiate a little bit more. Now here's the interesting thing, Keith, if you measure it on last year or the year before, it has huge numbers, like you just quoted, you know, 24% but what's happening is things are on the market like 40 days, you know, you know what I mean, like from a week or two, it's doubled or tripled, as you know, that's still not a very realistic market. The market is still, in my opinion, pretty healthy. It's not unbalanced, and before it was a seller's market, and so it's just normalizing. And normalizing, to me, if you go over year, over year, over year, is I think MLS says four to six months of inventory, right? I think things are just normalizing. But if you've been through the run, this is like the end of the world, right? But it's not. It's just things are settling down, and it's the greatest time because they're supposed to be a little bit of friction between the seller and the buyer. I believe there should be just about right. It's never just right, as you know, it's usually pulls on one harder on one side or the other. But we just went through an incredible time where the sellers pretty much got whatever they wanted and the landlords pretty much got whatever they wanted, and so this is just pulling back, you know, the tide's going back out. There's no cause for concern, at least in my world at all. It's supposed to be this way, and we need affordability. We need people to be able to buy homes. We need people to be able to rent. Yeah, I'm in the landlord business, but I don't want rents to run. There needs to be a balance there, even though it's good for me, if it does, but it's not good, because what happens is, then the government gets involved, and what they need to get involved in is adding supply, right? And not capping the rents. You know, what they need to do is just work with developers. And you know, because we're growing here in Arizona right now, we're seeing a pullback, but I think it's needed. There's nothing wrong with this. It weeds out a lot of, you know, realtors that weren't doing much, that just got their license, were hanging around, say, with mortgage folks and title people and lazy contractors and all that stuff. So whenever there's a pullback, the professionals win.   Keith Weinhold  14:01   Well, this is some really good perspective here. We're all victims of the recency bias, and, yeah, you're talking largely about market normalization. What sure wasn't normal or healthy, in a lot of ways, was back in 2021 when you might have had 50 offers for one available property, and people had to bid 50k over the asking price, and they might have waived their inspection, which is typically not a good idea when we talk about rents in the direction of rents, especially there in the Phoenix metro with single family homes, which I know your wife, Daniil, is pretty intimately involved with. Typically, this new supply increases competition. It increases the competition for landlords competing for more of those tenants, which is something that typically is not good for rents. Have we seen declining rents in the local market there in Phoenix?   Ken McElroy  14:54   Of course, yeah. And I'll tell you, there's a bunch of factors. So there's always cross currents. People want one. Answer, but there's not right, like, so let's just pick on a whole bunch of things that went wrong at the tail end of all of this. It was Airbnb. Like, Phoenix and Scottsdale are a huge Airbnb market. I've rented Airbnbs there. Sure. It's incredible, right? And so what happened was a lot of people said, oh, I can buy this house, throw some furniture in it. And, you know, I can get 10,15, 20 grand a month in rent out of these things. And they were right. And then what happened was, there just was too many, so became oversaturated. So you're definitely seeing those back on the market. And so interesting fact, Heath, all you got to do is look at the pictures. And if you see bunk beds. You know, it used to be an Airbnb like, you know what I mean? So that was the one, but two, let's don't forget this run that we just had put a lot of people into the rental market for the first time on the single family side too. So we never really had this many landlords on the single family side as well. And so there's all these mistakes that people made. They bought incorrectly. They had capex work. They bought with floating rate debt. And when rates went up, they weren't cash flowing. They wouldn't know how to manage them. So So there's all this stuff that was kind of going on behind the scenes, on the apartment side of the equation, which is where I hang out. Mostly, I watch all this. And because my class A buildings are competing for single family. They have single family typically wins because it has a yard, has a garage. Nonetheless, I gotta pay attention to it. So it's been interesting to watch. At one point you could not find a home in the Scottsdale area under 500 grand period like nothing. And now, of course, those are starting to come down a little bit more, and there's some softness in the rent, so the renters are have more choices. Now, why is that? There's a couple reasons. If you're a renter and you're looking for a place, you know, I'm sure you're considering a house, but not everybody wants a house, especially if you're single or maybe it's just you and somebody else, and maybe you don't have a pet. There's a lot of reasons that people just don't want to have to a home. So you've got condos and you've got apartments and you've got homes, and then you have school districts. So people definitely want to be in certain school districts based on their children. So you have all these cross currents going on, on where people want to be. And so what does all that mean? What that means is there are certain markets, from a rental standpoint, that are doing extremely well, still, both on apartments, on condos and houses. And then there are other markets that absolutely are not just depends on the concentration of all those things and all those factors that are going on. The one thing that's actually disrupting a market more than anything is apartments and condos. Because, for example, Danielle just had a condo that she owned, and the condo was worth, let's say, 300 grand, but it's probably 25 years old now, yeah, and there's apartments going up, you know, a block from there, right? So her renter is said, you know, I'd rather go over here. Brand new amenities, nine foot ceilings, brand new fitness center, all this stuff. So apartments really do reach into that rental market a little bit. And so there is some spillover between that. But primarily what's going on in Phoenix is there's a lot of new construction. And not just Phoenix. This is Tucson and Greater Phoenix. There's a lot of new construction that was started when rates were low. They were started in 2122 and you know, like, because I'm a builder, it could be a year to 18 months when we're opening a project from the time we put our the shovel in the dirt, we're not even open for a good 18 months. So there's a lag period. And those started opening in 23,24 and certainly 25 and these big projects, two, 300 unit projects, which I have several going right now, they're one to two year lease ups, so you could be looking at two or three year lag on some of the housing that's being provided. So that's all here now that is been good for renters. There's a couple horror stories going on, and I'll just explain. So downtown Phoenix, there was a whole bunch of apartment projects and condo projects that were built trying to attract people to live in downtown Phoenix? Well, there's challenges for downtown Phoenix too, and we won't have to get into that. I don't particularly think that there was ever the real demand for the amount of housing. So what you've done is people build a lot of housing in concentrated areas around the stadium in West Phoenix, near the Cardinal Stadium downtown Phoenix, you know, right in the heart of the business district. So if you were to rent something today, it would be four months free on a 12 month lease.   Keith Weinhold  19:48   Wow, that's about the steepest concession I've ever heard of in my life.   Ken McElroy  19:54   Yes, that's today. So all you gotta do is Google it and you'll see. And the only reason that happened, Keith, is. Is because there was too many units delivered at at a short period of time, and there was the demand, wasn't there? Gosh, now go 10 miles up to Tempe, go to Chandler, go to Scottsdale. No concessions, right? So again, you know, when you look at a market, you're going to see that it typically a lot of these concentrate in certain areas. And so there's a lot of areas in Phoenix where the consumer or the renter has an upper hand a lot. And so they're driving their choices based on their monthly rent. All of that plays into this thing, but the there's areas that are rock solid. And you know that would be Scottsdale, Tempe, Chandler, Gilbert, and there's areas that are over built that would be the west side, downtown Phoenix, the south side, there's areas that there's pockets that you know are in disruption you can kind of pick your poison, right? Like, if you're a landlord, there are areas that you want to buy in areas that you don't want to buy in. And as a renter, you have the same kind of choices. So when you blend it all together, you guys get the national news. But really it's pretty pocketed, just like it can be in any market.   Keith Weinhold  21:12   Well, you bring up so many good points there. Some of these markets that have done more building than usual are in this situation where there is landlord competition for tenants. Now, nationally, we're still under built, so it's interesting to talk about one of these overbuilt conditions in that competition for tenants, like we've been talking about, in general, a tenant prefers a single family home, and it's privacy for sure. They can't always afford that, but the apartment market and the single family rental market are somewhat interrelated, because if there's so much new apartment supply, it's got the appeal of being brand new, and there might even be concessions given, like you've mentioned there Ken and that can make it very attractive for a potentially wannabe single family home renter to go ahead and rent an apartment instead. So this glut of new apartment supply actually can affect the single family rental market somewhat, and competition is really interesting. I mean, certainly in my real estate investment career, I've experienced that. The first time I ever experienced that was that I owned several doors, and they were about 25 years old, and they had garages, each one of them a new apartment complex was built close to those so brand new, and you had to drive by this new apartment complex. Everything nice, shiny new, painted new parking lot, everything a prospective tenant had to drive by that in order to get over to look to my units. That softened my rent somewhat. The one thing that saved me a bit is that my running units were in Anchorage, Alaska, I had the garages with my units. The new apartment building didn't. They only had carports, so I did have a differentiator to help soften the blow in a rental market that became more competitive. Tell us more about the competition for tenants there in Phoenix, whether that's on the single family side or the apartment side can with concessions. And does that mean that you're altering the length of leases there in the local market? Or tell us more about how you're doing that competition?   Ken McElroy  23:10   It's a great question, yeah. So I would say generally, a home is going to be about 1000 bucks more on the average, like if you were just to put a number on it, three bedroom, Rambler type home with a garage in a yard. It's going to be maybe three grand. That apartment, the equivalent was is going to be maybe two grand. So roughly, those are kind of the numbers. But what happens if you're going to rent a house, you're definitely going to pay more money, that's for sure. And of course, depending on the area, depends on the on the rent. Now what's happening in a lot of these markets, like West Phoenix, for example, where you have 1000s of units being added at once, and you get this one month, two month, three month, and the extreme, of course, being four months free, if you're a renter and your rent is two grand, but you get three months free, let's say or four, you're going to take that deal, right? Because your your your average rent is, what 12,13, $1,400 a month, not 2000 so all of a sudden, it's going to impact those single families. So what's happening right now is the apartments that got delivered in in a lot of these geographic areas, these sub markets are definitely impacting the single family rental market. Now, if you're a family and you've got kids and you got pets and you want to be in a school district, you're not even looking you're basically just trying to find the best deal on a home. I get that. But if you have a choice, the rents are about the same, you're going to take the house, sure period I would, you would. So now what's happening is there's, there's such a difference between the rental price of a home versus the rental price of a brand new apartment that people are going to gravitate to the apartments, because those landlords trying to fill those things up are scrambling and marketing to anybody. And everybody and cutting whatever deals they can, because they're just trying to get out of those construction loans. It's a weird market right now. And of course, there are areas Keith that this does not exist at all, right, like you go into like Tempe, and you're not going to have because it doesn't have the available land, you know, which is around Arizona state for example, the Arizona State University. You go into North Scottsdale, you're not going to find this because North Scottsdale doesn't like apartments. And, you know, the homes are a million bucks and up, but there are definitely pockets where this is happening. So if you're a renter and you have choices, this is a great time for you and and to be honest, it's about time, because it was a seller's market and a landlord's market for a long time, and so it's just reverting back to the mean.   Keith Weinhold  25:46   Let's wrap up the discussion about rents and occupancy with what's happening nationally. Ken, since in apartment buildings, you invest in multiple states there, we know, for example, that the home ownership rate recently fell from 65.7% down to 65.1% fewer homeowners means more renters. But that doesn't necessarily mean that they're all going to be absorbed immediately, either. So talk to us about that.    Ken McElroy  26:13   There's an affordability problem, right? We haven't seen a massive adjustment with house prices now you have in areas, of course, I saw your recent podcast on Florida. You know how right the price of a house is, is less than a car today? Yeah, you're right, like so, but what's happening is there are markets that are pulling back, right. There are markets that had a bigger bubble than others, and they're pulling back. And so there's great deals in those markets. A lot of areas in Florida being one of those markets, there are other markets where you don't have that. So we are definitely seeing the same thing. And so we're having, in my opinion, it's the greatest time, because you have people that are, I think, should be able to buy a home. But interest rates seem to be holding at Six 7% and the pricing, albeit, hasn't run like it has, but it's certainly not pulling back like crazy either. It's still over 400 on the average, you know. So if you look at the delta between what it costs to buy a home just mortgage only, and you look at what it costs to rent, it's never been bigger. So the difference between your rent, the rent and a mortgage, has never been bigger. And the other thing Keith, that doesn't get talked a lot about are everything non interest rate and everything non mortgage. So let's start talking about insurance. Let's talk about property tax. Let's talk about, you know, capex. So there's a really good survey that bankrate.com did that said that right now, the average cost to own a home, not mortgage, is 1500 a month. So now that's average. I'm sure there's some that's less. I'm sure it's some that higher. So when you take 1500 a month to own it, plus the mortgage you're talking about quite a bit. It's a heck of a financial commitment when you can just rent for 12, 1314, 1500 and call it a day, you're going to move the needle twice as fast, and you're going to be able to get out of whatever financial situation you're in twice as fast when you don't have all those other costs. So what's really going on now? And the reason why you're starting to see this home ownership rate go down, and I actually make a prediction, gonna do it right now on your show, I think it's gonna go down below 60. I think for the first time in our history, we're gonna see home ownership in the 5050 nines, which is a massive statement. But if you take a look at under Obama got up to 69 and then it was, first of all, it was Clinton, and before that, and then kind of ran, but then it kind of got pulled back under the Bush, and then Obama kind of took the brunt of it. You know, when all that stuff was falling out, but it's been falling, and it's falling. Why it's falling? Because people can't afford a home, and they need to be able to afford a home. So we can't build affordably. The single family market is not affordable, and inflation surpassing wage growth, so you have this massive shift of people, in my opinion, moving from home ownership to the rental side. And there was a time where 1% shift Keith was 1 million people,   Keith Weinhold  29:27   1 million new renters, with every 1% drop in the home ownership rate   Ken McElroy  29:32   was 1 million people. So imagine that it doesn't sound like much when you go 65.7 to 65.1 right? That's a lot of people. When you got about 142 million people in the US, or a billion, right? 340   Keith Weinhold  29:46   350 million in 300 Yeah, about 145 million houses,   Ken McElroy  29:51   45 million, yeah, something like that. So you start to take a look at these numbers. They're massive. So these little 1% movement. It is a lot of people. I think we're going to continue to see it. People need to put their stake in the ground here and get on the landlord side of this, because we're going to see a massive shift of people because they can't afford they're going to be permanent renters, renters for life. And it's not good. I'm not advocating, but it just is what it is, with wage destruction, with inflation, with the affordability, the way it is, people are going to be forced into the rental side of the equation, whereas before, we were always kind of working on the fluctuations of the interest rates and the policies of the President, let's say, or whatever it was, to try to get people to be homeowners, or whatever it might be. Now, we might be in some kind of a permanent state unless something really changes, because we're four or 5 million houses short in the US as a result of the last 20 years. As you know,   Keith Weinhold  30:54   I recently saw a media article that was titled The hidden cost of home ownership, and they were talking about hidden costs as things like maintenance, property taxes, property insurance, utilities. I don't know how in the heck those costs are hidden. Any prospective homeowner needs to be aware of those costs, and inflation impacts those costs, where inflation cannot impact your fixed rate, principal and interest payment. There we have it a brazen prediction from Ken that the home ownership rate will drop below 60% in this cycle and the hordes of renters that that's going to release, we're talking about the direction of rents and occupancy in both Phoenix and the nation at large. We're going to come back after the break and talk about the direction of real estate prices. You're listening to get rich education. Our guest is Ken McElroy. I'm your host. Keith Weinhold.   the same place where I get my own mortgage loans is where you can get yours. Ridge lending group and MLS, 42056, they provided our listeners with more loans than anyone because they specialize in income properties. They help you build a long term plan for growing your real estate empire with leverage. Start your pre qual and even chat with President Caeli Ridge personally. While it's on your mind, start at Ridge lendinggroup.com. That's Ridge lendinggroup.com.    You know what's crazy? Your bank is getting rich off of you. The average savings account pays less than 1% it's like laughable. Meanwhile, if your money isn't making at least 4% you're losing to inflation. That's why I started putting my own money into the FFI liquidity fund. It's super simple. Your cash can pull in up to 8% returns, and it compounds. It's not some high risk gamble like digital or AI stock trading, it's pretty low risk because they've got a 10 plus year track record of paying investors on time in full every time. I mean, I wouldn't be talking about it if I wasn't invested myself. You can invest as little as 25k and you keep earning until you decide you want your money back, no weird lockups or anything like that. So if you're like me and tired of your liquid funds just sitting there doing nothing, check it out. Text family to 66866. To learn about freedom. Family investments, liquidity fund again. Text family to 66866   Naresh Vissa  33:25   this is GRE real estate investment coach. Naresh Vissa listen to get rich education with Keith Weinhold, and don't quit your Daydream.    Keith Weinhold  33:32   Welcome back to get worse education. We're talking with seasoned investor Ken McElroy, and he's also been one of the most recurrent guests here on the show. He's just consistently got some of the very best perspectives in the entire nation on the real estate market. And Ken the Fred data, which pulls their numbers from Kay Shiller, it shows that the value of a mid tier single family home in Phoenix, Metro wide, has basically been flat for the last year and a half. I know your wife, Daniil, deals with single family rentals there in Phoenix. Can you corroborate Is that what you're seeing as far as values go there on the ground, or is it different in the sub markets    Ken McElroy  34:20   it's definitely different in the sub markets, but I would definitely concur that it is flat, Keith, it's a very interesting time. People are used to selling things fast. Oh, I'm going to sell this and it trades, and then they're moving it right to something else. They're not used to the markets that you and I grew up in, right which is, you remember the old days where we would list something and it might be on the market for three or four or five months. These people, these kids, these let's last 10 years, they have never seen anything like that. So for me, I think we're just moving back to what I would consider to be normal. I don't see a problem with flat at all. In fact, I think homes are unaffordable and. And flat isn't necessarily bad. That means that both sides are kind of doing deals. That means the seller doesn't hold the cards, and it means the buyer doesn't hold the cards, and so right now is a great time to buy because if a seller is sitting on something for even a couple months, they're not used to it. There's deals to be had right now. And it's, I think, if you have the dry powder and you have the ability to move, is a great time to buy.   Keith Weinhold  35:26   You had mentioned, when we were talking outside this show, that your wife, Danielle has made some interesting moves in her single Yeah, yeah, tell us about that.   Ken McElroy  35:36   It's a fantastic move. I mean, one of the greatest, obviously, I'm doing these big apartment deals, she can't relate, and she's doing these small houses, which she loves. She doesn't like debt. She likes to pay them off, and she manages them all herself. And so she bought this condo years ago, and it's worth about 300 grand, and she paid like 164 years ago, and the rents have dropped. You know, per our last conversation, they were used to be around 1900 now they're around 1700 but the same time, rents have dropped. And why would rents drop? Because there's more competition. There's new apartment buildings being built around the area. The tenants have more choices. Again. There's, you know, rents came down a little bit. So she lost couple 100 bucks a month there, and the HOA hit her with costs. Our insurance went up, our landscaping went up, so all of a sudden their HOA fees started going up. So the rents came down, and the HOA costs went up, squeezes on, yeah, so all sudden she's got this squeeze and so she's looking at it. And I said, you really ought to take a look at your what we call imputed equity. In other words, she has no debt on this thing, so she literally has another way to say it is she has 300,000 sitting in a condo, an asset. What does it matter? What it is and she gets maybe, what does she make it 500 a month, maybe $6,000 okay? Net Cash Flow a year, right? Nothing. So you take your 6000 you divide it by your 300 and it's not a very good return. Yeah, eight. Okay, so she's looking at what we call imputed equity. What's your return on the equity you have? Okay, so she said, I'm going to start looking at these homes that have, like you said, the garages and the yards, because again, we know that should be able to get closer to $3,000 a month on those so she started scouring, and she found one, and it was about 450 grand. So she had to come up with another 150 grand. And so what she did was she sold the unit, the condo she had that had rising HOA and lowering rents for 300 she did a 1031 exchange into the $450,000 house, and then she had to come up with another 150 but her rent now is three grand, and she was able to increase her cash flow By almost $1,000 for a month. So that extra 150 generated about $12,000 of net cash flow gain. And so again, she just purely looked at the math on one and did a 1031 moved it into another one. And now she's super happy it's in a home. And as you know, in a lot of these homes, not always, but you tend to have people that don't move as much. So this the guy that moved in has his son. He has him in a local school. He's young. He's probably going to be there for years, so she's probably not going to have the turnover that she would in a condo project. That's really more like an apartment building. That's what she just did. And so don't forget, when prices are high, you're exiting high and buying high. When prices are in flux, a little bit like they are flat, you're going to be able to find deals. So it's a really good time to take a look at imputed equity and what's your real, true return, and is there a better asset class for you to be able to move that money into? Because this is truly about managing money and maximizing your return on your own dollars. And that's a move that she just made, and she's going to be on the cruise. She'll see you, and I'm encouraging her to actually do a talk on it, because there's a lot more detail to how she pulled it off. But it only took her, like, four or five months to do it, and it worked perfectly.   Keith Weinhold  39:22   Yeah. Well, congratulations there. I'm a fan of debt around here, as you know, on the summit, Daniel and I'll have to have a chat, and I'll talk about why financially free beats debt free and all of that. But I would love to hear her reply. She probably has some really good, sound reasoning for that can nationally apartment values have followed perhaps an astounding 30% because the way I see it is that three or four years ago, there were tons of new apartment starts with those freakishly low mortgage rates like you touched on. Start to completion of an apartment building can be as long as two years. So those starts have now become completion. Dollars, and they need to be leased up. So that's the glut, and that's why apartment vacancies are common in a lot of American markets today, with higher mortgage rates now, we have fewer starts and with less new future apartment supply coming onto the market, which would have been completed in 2025 to 2027 I mean, that's something that could portend well for the future, but the current apartment glut still needs to get absorbed by tenants. So talk to us about that.   Ken McElroy  40:29   That's a great, great tee up for me. Okay, so I'm going to do seven transactions this year. Now, that's all 200 plus units. So I bought 360 unit building and brand new in Las Vegas. We just closed on a 282 unit in north Scottsdale. We bought 152 unit in Phoenix. And on and on and on and on and on. We're really, really, really busy right now, because, to your point, why would we be doing that now? Here's why apartments are valued based on how they're operating period. So high vacancy, high concession, flat rents, high expenses. That's all bad if you own it, it's really good if you buy it. So you want to buy at today's numbers, and that's what we're doing. We're buying at today's numbers, and we think that there's a little window that we've got through 26 to be able to acquire a bunch of apartments at these low values. To your point, they've definitely dropped. There's another case as to why, because the next piece is when the mortgage rate's high, cash flow is less. So when your mortgage payment is higher, all things being equal, your cash flow is less. So when rates went up, then people could pay less, and that drove values down. So if we could lock in today with all this disruption, so that's what we've been focused on. And it's been a very exciting year for our company. And in addition to that, to your point, but you and I have never spoken about, we just broke ground on another deal, and we're just leasing up on a deal down in Tucson that we're we're a 300 unit building that we're just finishing, and we just broke ground on a 312 unit, and we got a couple more slated because we're trying to break ground today. And why would we would break ground today because there's not a lot of subcontractors bidding on the stuff. So we're getting better pricing. The interest rates are high. This is true. That's not necessarily a positive, but we're breaking ground in anticipation of opening in two years, when all this stuff gets absorbed, we're going to be opening and so, you know, if we could time it today with 25 we break ground, we're going to open in 27 this stuff will be absorbed by then the blood will be in the streets in 25 and 26 and maybe early 27 and then it's going to shift again, Keith, and you know, people are slow to react. And so we think we're going to hit this little window at optimal time to be able to open up brand new product in two years.   Keith Weinhold  43:05   That's great. Ken we've been having these conversations for over a decade now, I know, and the way that I see it is that MC companies, your company, was built exactly for times like this. Is that to say that you think apartment values have reached their bottom,   Speaker 2  43:22   so I actually don't think they have yet. That's a funny comment, and here's why, because we also went through this extend and pretend time with lenders, right? So the lenders, whoever bought something, was trying to hold on to it forever. But now, with this new administration and the battle with the, you know, Powell still in office for another year. Who knows really, what's going to happen with rates? Maybe a quarter here, quarter there, whatever. But the reality is, there's no relief in sight. It doesn't appear. Because now we have this high vacancy, we have high expenses, and I don't think there's going to be a lot of interest rate relief. And so I think the lenders are going, you know what? We're gonna start listing these. So we're starting to see just in the last few months, brokers call. I got a call the other day from a broker out of San Antonio. He said a lender called me. They gave me nine deals. He said the keys, they gave me the keys on nine deals now and then I got another one in Dallas. It was 35% occupied, and the loan was 25 million, and the guy said they would take 14, so that's an $11 million haircut to the lender. So you're starting to see these. These are coming into my emails, right? Because they flooded. We are kind of deal. Yeah, it's so good. Now I've passed on everything so far because I think the knife is still falling a little bit, and so I think we're in the first few innings of seeing these kinds of deals, and there needs to be a lot of them, right? Like they need to be everywhere. And then when they're everywhere, everything's listed, and people are looking at them, and there's all this interest, then I think we're going to be at the bottom, but we're darn close. I mean, we're darn close, I would say. Right? We're probably by end of the year close. That's why, if a prudent investor, is getting their dry powder together, now they're meeting with their broker relationships, now they're meeting with their lender relationships, now they're putting together their LPs, and they're starting to go out and look at deals. Now, even if it's no no, no, no, no, no, no. This is the time for you to build relationships and be ready to strike when you start to see stuff this year, toward the end of the year, will will be the bottom and then I also think next year is going to be rocky for a lot of things. Then you're going to see a lot of lender write offs.    Keith Weinhold  45:37   This is really good guidance for what you the listener, can accidentally do if you are a prospective apartment building buyer. Great insight there. Ken. Ken, yes, you and I are about to be together on the real estate guys Investor Summit to see but there's another great event that begins at the end of next month that you put together.    Ken McElroy  45:59   Tell us about that. This is great. I have now we have about 4000 investors. So these are all high net worth people that invest with us. And you know, this is our 24th year in business. So when I meet with all of them, we used to do these investor summits, they would say, What about gold? What about silver? What about oil? What about water? What about timber? What about self storage? What about Office? What about retail? So I'm like, I'm going to create a conference where I can have everything in one spot, and we can invite high net worth, accredited people be able to come there and listen to the best of the best. So no professional speakers, just people that are really doing deals. You know, like we have guys that are building wellness spas and hospitality. Obviously, we have some single family. We got multi family. Got a retail guy, industrial guy, commercial guy, office guy. We got a gold panel. And then we got these economists, and you probably know some of the names. So we got George gammon coming. We got Jeff Snyder, who's unbelievable Euro dollar University. He's coming. We got Brent Johnson, who created what's called the milkshake theory. And just Google it, you'll see it's all about the central banks. We got Jim Rickards, who wrote currency wars and a new case for gold. And we got Lawrence Lepard, who just wrote this book called The Big print. All coming as speakers unpaid, and they're just going to try to deliver the best value they can to the people. Because I tell you what, Keith, I don't know about you, but it's confusing. I'm reading about tariffs, I'm reading about inflation. I'm reading about unemployment. I don't know where interest rates are going. I'm feeling it at the street level, at the main street level, with my apartment buildings, they're harder to manage. The expenses are going up. I try to create this environment to where people can show up and hear real real things, and they can make real decisions and course correct, right, and also take advantage of of some other things. We're also having a manufacturing panel, and I got a whole panel just on the Trump tax bill, because the opportunity zones, the bonus depreciation, all the stuff, these are things that you can do to be able to take action. So this is limitless expo.com. Since we're on your show, they can do KEN10. KEN10, which is a discount, the prices do go up. Obviously they're the highest. They are in July, because that's when the event is but in June, they're still lower. So I would suggest that people go this year, especially with this new administration, and everybody's like, what is going on? Hopefully we can it's starting to clear up some of the confusion that we all have right now and try to figure things out.   Keith Weinhold  48:36   It seems like all we do know is that we don't know limitless ought to help clear some of that up. It is July 31 to August 2. Tell us where it's taking place.   Ken McElroy  48:47   Yeah, it's at the gaylord in Texas, in Dallas, Texas. It's called the Gaylord Texan. It's limitless expo.com. Now we did it last year. There'll be 2000 people. We have 50 speakers. We have five stages, 50 speakers. It's a really high end event. What I mean by that is these are real people doing real deals with real businesses, real investors. It's been fantastic. I haven't had to pay speakers because of the quality of the attendee. That says a lot. It's really been interesting and great. And by the way, I don't really think having big speakers to sell tickets is the way to go. I'd rather have a real quality event, and it's really interesting once you set your mind on something. Because my investors and other investors show up because they do more than invest in just what we do. Like real estate. Everybody wants a little piece of real estate, but they also want to know about Bitcoin. They also want to know about gold, you know. And these are things that I'm not that proficient in, you know. I want to hear from experts in those fields. So it's really been a great, great event.   Keith Weinhold  49:48   You kind of crowdsource the need. You listen to what your audience was asking about, and then you delivered it for them. Limitless expo.com, use the discount code KEN10 to get. Get a discount. Ken McElroy, it's been great chatting about the direction of rents and prices in the both single family space and apartment space. It's been great having you back on the show.   Ken McElroy  50:09   Yeah, for sure. Keith, always great. Man. Good seeing you.   Keith Weinhold  50:18   Yeah. Ken, decidedly bullish on buying real estate, even calling it a great time to buy. He basically believes that because buyers have more power than they did three and four years ago, and they have more options, an emphatic prediction that the home ownership rate will fall below 60% there is profundity here. I mean, the census figures on this go back to the 1960s and the lowest it's fallen in all that time was 63% by the way, homeownership peaked in 2004 at 69% apartment values have crashed about 30% and It's probably going to get worse. So the worst isn't over, but likely will be by about the end of this year. So in Ken's opinion, most of the worst is over. I'm reading in between the lines there on that one. Hey, I hope you've been enjoying this show lately. Next week, we're going to change things up somewhat here. Recently, we've had rather prominent guests on the show, like the father of Reaganomics, David Stockman, then Russell gray last week, this week, the owner of 10,000 running units, Ken McElroy. And you know their perspectives and experience and influence, they are terrific. And I trust that you've learned from them. Next week, we'll have two GRE listeners here on the show, regular listeners, perhaps people more like you, because you can probably relate well to their stories. Until then, I'm your host. Keith Weinhold, don't quit your Daydream.   Speaker 3  51:59   Nothing on this show should be considered specific, personal or professional advice. Please consult an appropriate tax, legal, real estate, financial or business professional for individualized advice. Opinions of guests are their own. Information is not guaranteed. All investment strategies have the potential for profit or loss. The host is operating on behalf of get rich Education LLC, exclusively.   Keith Weinhold  52:22   You know, whenever you want the best written real estate and finance info, oh, geez, today's experience limits your free articles access, and it's got paywalls and pop ups and push notifications and cookies disclaimers. It's not so great. So then it's vital to place nice, clean, free content into your hands that adds no hype value to your life. That's why this is the golden age of quality newsletters. And I write every word of ours myself. It's got a dash of humor, and it's to the point, because even the word abbreviation is too long. My letter usually takes less than three minutes to read, and when you start the letter, you also get my one hour fast real estate video. Course, it's all completely free. It's called the Don't quit your Daydream letter. It wires your mind for wealth, and it couldn't be easier for you to get it right now. Just text gre 266, 866, while it's on your mind, take a moment to do it right now. Text GRE TO 66866   The preceding program was brought to you by your home for wealth building, get richeducation.com    

The solopreneur economy is booming, but what's really driving it, and how do you stand out when your competition spans the globe? In this episode, digital media expert Naresh Vissa joins us to break down the rise of solopreneurship, why getting fired might be the best thing that ever happens to your career, and how he built a high-quality, low-cost business that thrives on referrals. Plus, we unpack the pricing trap many new solopreneurs fall into, the power of side hustles, and why Thomas Jefferson might just be your ultimate entrepreneurial role model. If you're navigating the solo business life (or thinking about it), this one's a must-listen.Being a solopreneur is awesome but it's not easy. It's hard to get noticed. Most business advice is for bigger companies, and you're all alone...until now. LifeStarr Intro gives you free education, community, and tools to build a thriving one-person business.  So, if you are lacking direction, having a hard time generating leads, or are having trouble keeping up with everything you have to do, or even just lonely running a company of one, be sure to check out LifeStarr Intro!Access Lifestarr Intro

Register here for the live online event to learn about ‘Cleveland's Amazing Cash Flow Opportunities' on Thursday 3/20. Keith discusses the potential elimination of property tax, highlighting its impact on home affordability, rent stability, population influx, and retiree financial relief. Florida Governor Ron DeSantis supports a constitutional amendment requiring 60% voter approval to abolish property tax.  Hear about the broader economic implications, including the potential for increased sales tax and widened wealth inequality.  GRE Coach, Naresh, analyzes the impact of federal layoffs on the DC housing market, predicting a decline in home values and increased private sector job opportunities. Both emphasize the importance of the BRRRR strategy for real estate investors. Show Notes: GetRichEducation.com/545 For access to properties or free help with a GRE Investment Coach, start here: GREmarketplace.com GRE Free Investment Coaching:GREmarketplace.com/Coach 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, there's a proposal to eliminate the property tax. Is a Washington DC real estate crash upon us, then a terrific guest and I are talking about the future of interest rates in inflation. And finally, an event you won't want to miss all today on get rich education.   Speaker 1  0:23   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 get rich education podcast, sign up now for the get rich education podcast, or visit get rich education.com   Corey Coates  1:09   You're listening to the show that has created more financial freedom than nearly any show in the world. This is get rich education. You Keith,   Keith Weinhold  1:25   welcome to GRE from Fort Carson, Colorado to Carson City, Nevada and across 188 nations worldwide. I'm Keith Weinhold, and you are in for another wealth building week at get rich education. I don't like to predict interest rates, because it's really hard to do. But it does get interesting today, because our guest says that he will with his tight read on the economy, this is a unique time, perhaps in my entire life, where we have more new policies shaping the economy and real estate. Then, anytime I can remember, policies are made by politicians, but we don't get into the politics here, rather the policies and how it affects you and her. Any of these policies spicier than this one from earlier this month. Be mindful that this voice is from a person that made his name as a real estate investor.    Donald Trump  2:29   I also  have a message tonight for the incredible people of Greenland. We strongly support your right to determine your own future, and if you choose, we welcome you into the United States of America. We need Greenland for national security and even international security, and we're working with everybody involved to try and get it. But we need it really for international world security. And I think we're going to get it one way or the other. We're going to get it. We will keep you safe. We will make you rich, and together, we will take Greenland to heights like you have never thought possible before. It's a very small population, but very, very large piece of land and very, very important.   Keith Weinhold  3:17   Yes, the long time New York City Real Estate Investor there has gone well beyond Gotham now with plans to expand America's real estate empire, if you will.   Is this imperialism or America First policy? Or is it abject comedy? I guess that it could be all three. I'll let you decide. Well, the federal policy shakeups like that, also what they seem to be doing are emboldening others, including at the state level, where Florida, interestingly, recently proposed eliminating the property tax, taking it to zero. What is property tax free? Real Estate coming to you as well. Let's look at the prospects for this and what the effects would be of eliminating the Property Tax with some things that you probably never thought about before, and yes, your mind might shoot ahead. You might anticipate saving 1000s in lost tax dollars every year, even saving over 10,000 bucks a year per single family home in high tax areas. And you know, property taxes, sharpest critics, they say you have got to get rid of this thing, because you basically just endlessly rent your house from the government, and the rent goes up every year, and so therefore it's like forever rent that you have to pay. What's even worse is that the. Amount of property tax you pay is based on your homes or your apartment buildings market value. Well, because the government prints so much money and creates inflation that pumps up all the housing values, many of which are fake, inflated gains, and then your property tax goes up based on this phantom gain. And we've really seen that over the last five years, both real gains and Phantom gains. And then, plus, of course, each full dollar that you earn from your work right now is already taxed, say, down to just 70 cents, is what you've got left over. Well, then your 70 cents is further whittled down by property tax and all the other taxes that you have to pay out of that currently, all 50 states have a property tax every one of them, and you might already know that property taxes, they're basically highest in really two main places. When we look at property tax as a percent of your income. Those places are Texas and the Northeast, where they're upwards of 4% even 5% in fact, it's more than 5% of your income every year that goes to property tax in the state of Maine, but it's 4% or more in a number of states. And of course, if you don't pay them every single year until you die, the government will repossess your home from you. And almost 5 million Americans lose their home every year, many of them to this tax foreclosure. And in the US, the property owner pays the property tax, of course, but effectively, renters do too, because as landlords, we pass it along to tenants. It's embedded in that market rent amount, all right. Well, can we end the property tax? Well, former presidential candidates like Ron Paul and Herman Cain have proposed it. They didn't get elected. Texas has discussed it a lot, but yeah, it's Florida that has newly and boldly proposed eliminating the property tax. And like falling dominoes, if this gets abolished in one state, it increases the chances that more will follow. And Florida is a big state, the third largest in population. Well, Florida Governor Ron DeSantis came out and said this, taxing land and property is the more oppressive and ineffective form of taxation. That's what he said. Now let me tell you why he says that before we look at the chances that property tax will be eliminated, DeSantis says it's oppressive, because look see, you can personally dodge your income tax by making your paycheck smaller, although that might not be desirable, you sure could, and you can certainly avoid sales tax by consuming less, but see there is no escape from property tax. That's the oppression that's being referred to here. Let me tell you where we're at with eliminating the property tax, and then what the absolutely Titanic impacts of this would be DeSantis goes on to say, property taxes are local, not state. So we'd need to do a constitutional amendment which requires 60% of voters to approve it, to eliminate them, which DeSantis supports, even to reform or lower them. Right? But he goes on to say this, and here we go. We should put the boldest amendment on the ballot that has a chance of getting that 60% that's the end of the quote. Okay, so that's what it's going to take to eliminate property tax in Florida, where, if it happens, it could be a model for other states to follow, like we're seeing a little bit with the zero income tax states. All right, here's what I think would happen if they were eliminated. First home affordability would massively improve, skyrocketing property values. So many more people could afford the lowered monthly payment without property tax making prices soar, especially the values of lower price to median priced homes. They could really bring those into the affordability range, and they are the exact ones that make the best rental properties. What about rents? If property taxes went to zero, rents would stay stable. Landlords would do little or nothing to drop them. That's just how it works when people are already used to paying a certain price. Also population influx to the affected area. I mean that population influx that already works for states in attracting residents. That have zero state income tax, it would with property tax too. I mean that would clearly be desirable for people to own property tax free homes, especially in the beginning, before this settles in and those home prices soar. Also, retiree financial relief would take place. Those people on fixed incomes would really be helped. But you know what would not happen with governments slashed property tax revenue. They couldn't reduce their spending proportionally. I have no faith that they could. They would have to get their income from elsewhere and see shifting away from property tax over to beefing up your sales tax, that would hurt poor people the most. For example, in Florida's case, it's been studied, and they discovered they would have to increase their sales tax from the current 6% up to 12% to maintain the same services. Can you imagine 12% sales tax, and another effect of abolished property tax is that wealth inequality would widen because the property owners are the ones that benefit the most. So those are the big effects. But look, there are more problems eliminating property tax, that means the areas would need to find another way to pay for schools and roads and parks and local services like police and emergency responders. Maybe some of that stuff could be privatized. But if the tax, if that were just shifted away from local government and that went toward state and federal government, well, then local control would be lost. So that is a really undesirable side effect. But as a real estate investor, come on. The prospect of an abolished property tax that has got to excite you. I wouldn't count on it happening anytime soon, but now you know more about the prospects for it happening and what the impact would be with an elimination of property tax.    coming up soon. Here on the GRE podcast, what the Bible says about money when Pastor John joins us, it's going to be a show unlike any we've ever done before, and maybe will ever do again. You might not be a Christian or religious at all, but this is still relevant to you, because the Bible is the top selling book in the history of the world, and it has an indelible influence on the people around you. The book the Bible, says some things that make you wonder if wealth accumulation is even virtuous. We're gonna face those verses head on and get pastor John's insights there. That's a really anticipated show. I'm also gonna ask him what other religions have to say about money. Also some well known guests down the road here on the show, including the get rich education debut of Laurel Langemeier and more. LAUREL she was known as the millionaire maker since back in the days when a million dollars was actually a lot of money. To be sure that you don't miss these upcoming episodes on your pie catching device, hit the Follow button right now while it's on your mind and you'll be all set. Let's meet with this week's guest.   This week's guest is a familiar one, because he's on Team GRE, yeah, it's an in house chat with our super helpful investment coach. What he does is he helps you devise your big picture real estate strategy all the way down to connecting you with the exact right property addresses. He does that free at GRE marketplace business speaker Jim Rohn said, formal education will make you a living. Self education will make you a fortune. He's got both with an MBA from Duke. Then he worked at both banks and financial publishing companies before landing here at GRE in 2021 but importantly, for years now, he's been an active real estate investor, just like you and I are. Hey, a big welcome back to the show. Naresh Vista,   Naresh Vissa  14:13   hey, thanks for that wonderful, wow, amazing introduction, and thanks for having me back on. It's been a few months.   Keith Weinhold  14:20   Yeah, we haven't heard from you since October here. So what's going on in the real estate and economics world? From your vantage point, everyone's got a different slant on it based on what they see.   Naresh Vissa  14:32   There's a lot happening. As you know, Keith and our listeners, I'm not sure if they're following, but we're seeing tremendous, tremendous changes in the financial markets in general, and the financial markets include the real estate markets, and the impact is going to be widespread for better or for worse, I think, for better over the long haul. So what I'm talking about right now is, for example, interest rates, mortgage rates, home value. Use inflation, those are all very important parts of the economy. And we have this new government department called Doge, the Department of government efficiency. And Doge has gone in. And I loved your newsletter where you talked about Doge a little bit, and the walk that I took, as you called it, the awkward walk with a box full of your stuff or something like that. The sure, because I've been fired before. Yep, yep, it's happened to me once too. I took the awkward walk with the box of of random stuff. Yeah, lots and lots of of layoffs are happening within the government. The private sector continues to lay off people as well, like it usually does, and this is a big deal. The reason why it's a big deal is because aggregate demand. I don't want to say it will be killed, but we're already seeing an impact on home values in places that are very dependent on government workers, places like Washington, DC, Virginia, Maryland, there's actually a 10% year on year decline in home values in those areas. I don't know if you knew about that, Keith, but that's been the impact, and that's based off of the February statistics, the February numbers. So we've seen a decline, and that decline will likely spread to other areas that are dependent on federal workers, or where federal workers make up a good chunk of the local economy. I bring this up because we have providers in Maryland who we work with, who GRE has worked with for three or four years now, and they're seeing somewhat of a decline in the area as well. Because just you don't have to work in DC to be a federal worker. You can work in a major city like Baltimore or in a suburb in between Baltimore and BC. So we're seeing somewhat of a decline in our investors have all of a sudden gotten interested in investment property in the Maryland area because they knew, hey, we know GRE works in the Baltimore operates in the Baltimore area, and just want to scope out some homes. So previously, two years ago, three years ago, when list price was not negotiable. Now all of a sudden, the sellers are open to offers when there was no budging on offers three years ago. So I bring this up because the Department of government efficiency, I believe, to my knowledge, we're up to six figures. More than 100,000 workers have either been laid off or taken the buyout package, so we're somewhere in the six figures of people who got that now, they do have eight months severance. But with that being said, you would think that most humans, they'll immediately start looking for the next job. They're not gonna just enjoy for eight months and then scramble to find that next job. So this is having a widespread impact on housing, home values on it's going to have an impact on interest rates. We're seeing that interest rates are coming down, and if there's any sign, which I don't think there is, but if there's any sign of a recession, if there's any sign of bleeding, then the Fed is going to start cutting interest rates again. So I think we saw peak interest rates a few months ago, those interest rate values, those mortgage rates, aren't going to be going back up anytime soon. We know that almost it's almost a fact that we know that, because the Fed is not going to be raising rates, the most punishing thing they can do is just keep rates steady for a long period of time. But I didn't anticipate that later this year, they're going to start cutting again because of these widespread mass layoffs.   Keith Weinhold  18:32    And of course, Washington, DC is essentially ground zero for these federal layoffs. Federal jobs account for about 25% of DC jobs. You the listener, probably find it to be no surprise that that is the highest in the nation. But of course, this can also affect private companies, those private companies that have federal government contracts as well, and Naresh, before we open it up to the nation, we just think about DC. Do we have any idea of what properties are going to be hurt the most? A lot of times you might think of that in the case of what is the income range of these federal employees that are being laid off now, a lot of them are probationary employees, meaning that they're in their first year of employment.   Naresh Vissa  19:19   Well, it's a huge mix keep. That's a really good question, because I think a broker, like a real estate broker who's trying to sell will try to beef up the price and say, Oh, this doesn't affect us, and this only affects very high income folks. Well, that's the fact of the matter. Is there, if you work for the federal government, you're not necessarily ultra high income or ultra high net worth, you get the perks, and you get perks of working a government civil servant Job while taking somewhat of a lower pay. So it's actually a mix, because you have people in the first two years of employment. So the youngsters. Now, those aren't your homeowners, though, the 2223 24 those. Just say the people in their mid 20s, they're not the homeowners, they're the renters. So you can expect them to leave. They'll probably if they can't find a job, which it's going to be much harder to find a job in that DC area, they may move to Philadelphia or New York or California or wherever they can find a job. They'll just get up and move and move, and that's one of the benefits. I did that when I was in my early and mid 20s, many times where I just packed up and moved. I was more than happy to do it. So they're not your homeowners, but the homeowners are going to be the people who are getting laid off. So there are mass layoffs happening right now, and those people are homeowners, and then the people who are taking the buyout packages very likely, because they're either approaching or at retirement age, and it remains to be seen whether those people it's like a retirement gift, like, Hey, this is a great party. You know, getting eight months of free pay. Like, that's pretty amazing and happy retirement. Or maybe folks were like, they didn't say for retirement all that much, and they were planning to work another 10 years. Those are the people who could be sellers. Bottom line is, when you have this amount of mass layoffs, and we're seeing it in the data, there are more homes for sale today in that DMV area. I By the way, I used to live there. I used to live in in Maryland, great. More homes for sale today than I believe in the lab, definitely over the last five years. And it could be even over the last 15 years, to my knowledge.   Keith Weinhold  21:29   And for those that don't know DMV, that means Delaware, Maryland, Virginia, that area, yep. So   Naresh Vissa  21:34   there are more homes for sale, and the home values actually are now. This is a crazy thing. The home values in on average are back at 2020 levels. So basically, the peak of 2020, is what the home values are at today. And just my prediction. I don't think it takes a genius to predict this, but the layoffs are just getting started. They're just scratching the surface, and they're going to continue, because this Doge is a an 18 month program or an 18 month project. It's supposed to, it was called the Manhattan Project of our time. So they're just scratching the surface. And I'd expect home values in those areas to continue to fall. And you're gonna see it's not immediate. It's not like there are mass layoffs one day and then home values fall the next month. A lot of these effects, we won't start seeing them where the DC area won't start seeing them. 678, months down the road,   Keith Weinhold  22:27   Doge is more than just a meme coin. Now our own in house investment coach, Naresh Vissa and I are talking about the state of real estate today. More we come back, including nuracious thoughts on the future direction of inflation. This is Get Rich Education. I'm your host. Keith Weinhold   you know what's crazy? Your bank is getting rich off of you. The average savings account pays less than 1% it's like laughable. Meanwhile, if your money isn't making at least 4% you're losing to inflation. That's why I started putting my own money into the FFI liquidity fund. It's super simple. Your cash can pull in up to 8% returns, and it compounds. It's not some high risk gamble like digital or AI stock trading. It's pretty low risk because they've got a 10 plus year track record of paying investors on time in full every time. I mean, I wouldn't be talking about it if I wasn't invested myself. You can invest as little as 25k and you keep earning until you decide you want your money back, no weird lock ups or anything like that. So if you're like me and tired of your liquid funds just sitting there doing nothing. Check it out. Text family to 66866, to learn about freedom family investments, liquidity fund again. Text family to 6686    Hey, you can get your mortgage loans at the same place where I get mine, at Ridge lending group NMLS, 42056, they provided our listeners with more loans than any provider in the entire nation because they specialize in income properties. They help you build a long term plan for growing your real estate empire with leverage. You can start your pre qualification and chat with President Caeli Ridge personally. Start now while it's on your mind at Ridge lendinggroup.com that's Ridge lendinggroup.com   Jim Rickards  24:34   this is author Jim Rickards. Listen to get rich education with Keith Weinhold, and don't quit your Daydream.    Keith Weinhold  24:49   welcome back to get recidiation. I'm your host. Keith Weinhold, it's an in house chat with our own GRE investment coach, Naresh Vissa. He's been talking about the fallout on DC area. Jobs with the regime shakeup that we had in the White House starting earlier this year. And Naresh, I know that you have some thoughts about what this can do to the future direction of inflation. Tell us about it.    Naresh Vissa  25:12   Well, the first thing Keith is, if you look throughout history, or even your lifetime, what we saw from 2021 until today, really, because inflation is going up. I don't want to say it's going back up, but it is going up. We've seen an inflationary cycle that I've never seen in my lifetime. It's worse than any short term inflation cycle that this country has faced, at least in my lifetime. And I was born in the late 80s, let's just say 1990 and moving forward. So I bring that up because this is some pretty bad inflation that the world and that the United States has seen, and we don't need to get into all the details about how it happened or the mistakes that were made at the time when the Fed should have started raising rates, when the government should have stopped spending. That's all history. Moving forward, I'm actually very optimistic now that we've actually reached peak inflation. And when I say peak inflation, I mean during this micro cycle where inflation has gone back up from a 2.4% rate to a 3% rate. I think that's the highest we're going to get during this micro cycle. It did reach some I believe it was above 9% in 2022 yes, we're definitely not going to going to reach that. But 3% is still too high for the Federal Reserve. It's still too high for Americans. It's a major reason why Americans went to the voting boots and or the ballot boxes and made the decisions that they made because of inflation. It's the most important issue on most Americans minds. And I bring this up because I'm very optimistic that we've seen this 3% peak and that we're going to be going down moving forward because of the first half of this interview, the fact that all of a sudden, it is a sudden thing, because a lot of people weren't expecting this, I was, but a lot of people weren't expecting these mass government layoffs. And these mass government layoffs, they hit corporations. They hit private businesses. Anyone with a government contract is going to be hit anyone who was profiting off of waste, fraud, abuse, which you'll be surprised how many private and many times this is legal, like it's legal waste, it's legal abuse, and all of a sudden those checks are going to stop coming in, or the way of doing those business practices are going to stop because the government is clamping down on it. Why? Because it's taxpayer money, and taxpayers are upset. So the pullback or the elimination of waste, fraud, abuse, is definitely a good thing, but also the mass layoffs, we're going to see a decrease in aggregate demand. And when we see a decrease, I'll just say demand. I mean, that's more common, so we'll see a decline in demand. So when there's a decline in demand, what happens? Prices go down, and we're already seeing it. There's already proof of it. I already I brought up the housing market in the DMV area, and I can also tell you oil prices, for example, which is one of the main drivers of inflation, oil and gas energy prices one of the top three drivers, along with government spending. So you got mass layoffs, which will kill a lot of that aggregate demand, you have the oil, gas and energy, and then the reduction in government spending. So all that combined is going to lower inflation, going back to the energy prices, oil is down for really since the inauguration. That trend should continue, given the policy change, and that drives it drives inflation, it drives deflation, it drives pricing, because any good that you need, it's probably going to be transported with the use of energy the microphone you're using, Keith, how was it shipped? Maybe in a truck, and the truck is powered by fuel, or maybe something was sent in an airplane or in an actual ship. All that requires energy and fuel. So if you can lower energy costs, then we're going to see a continued decline in inflation, and energy costs continue to fall, continue to plummet. So I think this is good for inflation. Yes, it is. There is pain. We talked the first entire half of this episode on layoffs. Layoffs are they're painful. Taking that Walk of Shame is painful. There is going to be pain. But at the same time, remember, there are more than 10 million available private sector jobs, and we already have more than a million jobs that are opening up as a result of investment within the United States since January, 20 of this year. We have companies like Apple. We have Taiwan, semiconductor, Eli Lilly, the list goes on and on and on, of major corporations, big corporations, mid sized companies, who are opening up more operations within the United States. So the private sector jobs, which are really the innovative, long lasting jobs, they are growing there is just a tremendous. To opportunity, especially for young people. If I was young again, I wouldn't want to work for the government. I'd want to go work for one of these companies, where they're essentially going to be recruiting and begging youngsters to come work for them   Keith Weinhold  30:12   to corroborate nourishes lower inflation expectations. Since the beginning of the year, we've had a fairly sharp decrease in bond yields now. GRE listeners know by now that mortgage rates somewhat move with Jerome Powell's federal funds rate, but they're more closely tied to bond yields, specifically the yield on the 10 year T note. Okay, so then what makes the 10 year go lower? Hence, mortgage rates along with them, that is lower inflation expectations in a slowing economy. And another reason that bond yields and hence mortgage rates with them, fall, is when people sell stocks and make a flight to safety into bonds, that pushes up bond prices and lowers bond yields. So again, those are two factors that move bond yields and, resultantly, mortgage rates. And that's what has been happening.   Naresh Vissa  31:08   absolutely. And the important thing to remember something you touched on and what I talked about earlier, which is, yes, there is going to be a reduction in federal government and federal government jobs, and I think this is going to pass on to states as well. I think many states, in fact, I know that many states, even blue states, are taking a look at their books and saying, hey, you know what? We should be making cuts too. Because states, they operate on much tighter budgets, whereas the federal government, they basically have access to a printing press. State governments do not so the point that I'm making here is that, yes, it's painful. We're going through some pain right now. The DMV area is going through some pain. The stock market has gone through some pain. The Crypto markets have gone through some pain. Everyone's gone through some pain, but they say no pain, no gain, and the jobs are being transferred, as I brought up earlier, from the government sector to the private sector, and the private sector is where we can see tremendous, tremendous growth. Look at GRE for example, we're a private company, and we've seen tremendous growth, right? Tremendous growth in just innovation and and our services and our offerings. Now, imagine a bigger company that, and how much growth they can have. I think overall, I'm very optimistic and about inflation coming down, hitting that 2% target by the end of this year. In fact, I think it'll hit that 2% target a few months before the end of the year. And once we hit that target, then the Fed is going to start cutting rates again, and there's a chance that they may even start cutting rates before we hit that 2% target. I don't think they should. I thought they made a mistake doing that last year when they started cutting, when inflation hit 2.4% I think or two and a half percent, they started cutting again. I think the inflation rate has to hit actually 2% across the board, and then they can start with their gradual cutting. So if somebody asked today, hey, narration, which many do as, hey, how low do you think interest rates are going to go this year? My answer is not very low. This here, you'd have to have a cataclysmic Black Swan event, which it's called Black Swan because none of us can predict it, none of us can see it. So you'd have to have an event like that for the Fed to just basically slash rates overnight, which I don't see anytime soon. The other most popular question I've gotten this week is, are we going to go into a recession? You know, it seems like the world is falling apart and world war three and and stocks are tanking, and crypto is tanking, and this is tanking and that's tanking. This is when people told me a few weeks ago, actually. And my answer is, No, I don't think we're going to see a recession unless there's a black swan event. But I don't think so. And the reason is because of the tool that the Fed has. The Fed can cut, cut, cut. That's one of the Ben now, if we were at low interest rates, if we were at, let's say, historic low interest rates, and we were in this situation today, I would be very pessimistic and say it's not looking good. But any sign of a recession, the Fed is going to act at their next meeting. They won't even need to call an emergency meeting. They'll act at their next meeting, whenever that may be, they'll act and start cutting rates, and that's going to quickly stimulate the economy and get investors like our folks, because that's going to affect the bond yields, that's going to affect the mortgage rates, and investors are going to jump in to buy real estate, and people are going to jump in to buy discounts in the stock market, et cetera, et cetera.   Keith Weinhold  34:44   To your point, thank goodness the Fed has some ammo. Since the federal funds rate is about 4% they do have some ammo, and they can cut that rate down. You can imagine if the Fed funds rate was zero, like it was a few years ago, and they couldn't make cuts because they don't want to. Make it negative. So Naresh and I here talking about a number of forces that are largely outside your control. So these are the sort of things you can keep your eye on. However, there is something you can do that's very much in your control, and it happens this Thursday, where you can join Naresh and a co host on our upcoming live event. Tell us about it, Naresh.   Naresh Vissa  35:22   well, like you said, it's this Thursday, we're going to be talking about the BRRRR strategy, which has become the most popular real estate investment strategy. GRE has seen in its existence. Our investors are almost hooked onto this burst strategy. We're going to talk more about it on the webinar. Burr stands for buy, rehab, rent, refinance, repeat, and we'll get into all that in the webinar. It's a great way to build equity in a property very quickly, and to use that equity towards your down payment, so that you're not paying that standard, traditional 20 to 25% down. Some of our investors have done BRRRR's in markets like Tennessee, where they put zero down, or where they even made money on the if you want to call it the flip, so we're going to be talking about them. It's specifically geared towards we've done a burr event before on the Memphis, Tennessee market. This is a burr online event that covers the Cleveland, Ohio market, and that's a market that we have not touched on much here at get rich education, we've promoted some properties here and there. It's a really popular market, and it's a state that is growing and looking if someone were to ask me, Hey, Naresh what's the one state that you think can become the next Florida. And we've covered Florida here before. I live in Florida. Politics aside, Florida has boomed Since 2020. Or so. The number of how you can judge a state's growth is by its GDP numbers. And most importantly, are people moving there? That's the key. Are people moving there? And I would say Ohio is that next state where I think many people in the Midwest are going to say, hey, you know what, I want to go move there, because they're looking to make a lot of changes that are pro growth, that are pro real estate, including potentially eliminating the property tax, school choice programs there. That's huge for kids, universal school choice, and, most importantly, potentially eliminating the income tax now, these are all long term plans. It's not happening anytime soon, but those are the visions and the goals for Ohio, and I think they're going to happen by 2030 I would expect many of these plans and policies to happen. And what that means for real estate is it's going to boom because people are going to move to Ohio because of that, there aren't a lot of states that offer no income tax. So those are my thoughts on Ohio, and we're going to talk a little bit more about that on the webinar.   Keith Weinhold  37:50   Many expect Vivek Ramaswami to be the next governor of Ohio. If that comes true, Vivek has a lot of the same pro business policies that Ron DeSantis does in Florida, for example, Ohio has a high population, a stable population, America's seventh largest population, and a slow growing one with a great diversity of industry there in Ohio and Cleveland.   Naresh Vissa  38:15   So Keith, we have we're approaching record numbers of registrations for this event. We still have room for several more people. So I highly recommend people go to GRE webinars.com. That's GRE webinars.com. You can register for the event. It's going to be fun. All of our webinars recently have been a ton of fun. We've gotten great feedback, a lot of engagement. I think you'll learn a lot for sure. So I'm looking forward to seeing everybody there.    Keith Weinhold  38:42   Your co host, Phil, was on last week's show with us, both you and Phil, we'll be talking about this burr live event in Cleveland. I really suggest you, the listener, attend live. You might get a better Property selection that way, and you'll surely be able to ask questions, and sometimes with the other participants, they ask a really good question that you had not even thought of previously. It's our live burr event for Cleveland cash flow properties. You the listener probably remember when Phil was here last week, we gave an example of where you can get eight to one leverage and up to $500 cash flow on a single family home in Cleveland. I really recommend that you attend, and you'll be hearing more from the race, then you can sign up at GRE webinars.com We'll see if we break that record of, I think, 538 registrants last webinar that we had late last year. Do you have any last thoughts about the event? Naresh,   Naresh Vissa  39:41   like I said, before our events have it's free to attend. That's the first thing. You don't need to pay us anything. But we sell out these events. So I highly recommend that people go once again to GRE webinars.com. We can only hold a certain number of people. It's a few 100 people. So we want to sell out again. We hope you can. Join us and you will not regret I think you're gonna really like the Cleveland market. We're gonna talk more about that, the Ohio market in general. And I think folks are really, really gonna like this strategy. I know a lot of you have invested in Burt, in other markets, or have been researching Burr and you really like what you hear this is the market. I think that you should pay really, really close attention to our team is really strong there. Phil's team, really strong, very honest. They're quick, they're reliable. So if you've had a bad experience doing a burr elsewhere, I think you'll have a better experience with our team over here.    Keith Weinhold  40:35   We'd call it a sellout crowd, but you don't have to pay anything. We'd call it a standing room only crowd, but you don't have to stand up. You can sit down and enjoy it from the comfort of your own home this Thursday at 8pm eastern at GRE webinars.com. Thanks for coming on to the show. Naresh,    Naresh Vissa  40:51   thanks a lot, Keith.   Keith Weinhold  40:57   Yeah, strong insights from our own new race today, inflation expectations cut back and forth like a knife with big policy decisions on layoffs and tariffs and more tariffs on lumber and gypsum board. I mean, they are two of the major inputs that can increase the cost of homes. Gypsum board just means drywall tariffs, slow trade, less fuel is used to ship things like we touched on. And a lot of people ask, well, doesn't an economic slowdown mean lower prices, but yet don't tariffs raise prices? Well, you got to take on that from Naresh today. Now, sometimes I am asked, where is the real opportunity in today's real estate market? I've been a guest on other business shows lately, and I've been asked that question, where's the opportunity in today's real estate market? And I've got two answers. If you have more money and less time. Go with new build properties, because builders are still awarding you with massive rate buy downs, often to near a 5% mortgage rate. They are buying it down for you, but instead, if you have less money and more time, because you have to wait a few months for a rehab, then go with the burr strategy. That is the other opportunity. It's going to give you a higher return than new build in most cases, because what you get is in improbably high leverage along with strong cash flow. And those are two notions that typically don't go together. Well, on Thursday, we're bringing that to you with our live event. I mean, is there a more seasoned pro with the burr strategy in the entire nation than one co host for the event? Phil and then the mind spring of knowledge and ideas from Naresh as the other co host, and they're both active investors themselves, bringing you the opportunity in Cleveland in just a few days. And of the hundreds of registrants, not all of them attend live, but do attend live. If you can give yourself an advantage, you can be connected with available properties conducive to the burr strategy. If you're interested, or maybe you're just more interested in how it all works one last time it is GRE 's live event for Cleveland's amazing cash flow opportunities this coming Thursday, the 20th at 8pm Eastern, 5pm Pacific, healthy real world monthly rents that are more than 1% of the purchase price single family properties, many for under 100k in investor sweet spots. It's free to attend. It's from the comfort of your own home. Registration is still open at GRE webinars.com until next week. I'm your host. Keith Weinhold, don't quit your Daydream.   Speaker 2  44:04   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  44:28   You know, whenever you want the best written real estate and finance info, oh, geez, today's experience limits your free articles access, and it's got paywalls and pop ups and push notifications and cookies disclaimers, it's not so great. So then it's vital to place nice, clean, free content into your hands that adds no hype value to your life. That's why this is the golden age of quality newsletters, and I write every word of ours. Myself. It's got a dash of humor, and it's to the point because even the word abbreviation is too long, my letter usually takes less than three minutes to read, and when you start the letter, you also get my one hour fast real estate video. Course, it's all completely free. It's called the Don't quit your Daydream. Letter, it wires your mind for wealth, and it couldn't be easier for you to get it right now. Just text GRE to 66866, while it's on your mind, take a moment to do it right now. Text GRE to 668666.   The preceding program was brought to you by your home for wealth, building, getricheducation.com.  

Kerry Lutz and Naresh Vissa critically examined the inefficiencies in government spending, particularly highlighting the waste associated with programs like USAID, Medicare, and Social Security. Naresh emphasized the lack of awareness among taxpayers regarding how their money is spent, advocating for transparency and accountability through zero-based budgeting to eliminate unnecessary expenditures. Both speakers discussed the potential for significant savings that could be redirected towards tax cuts or debt reduction, and they underscored the importance of using technology, including AI, to enhance government efficiency. They also noted bipartisan support for trimming excess spending as a means to reduce the national debt. The conversation further delved into the implications of political changes under the Trump administration, with Naresh expressing optimism about the potential for substantial tax cuts and economic growth. He argued that high taxes on wealthy individuals could harm various sectors, using the Indian wedding industry as an example of how reduced spending impacts the economy. Lutz and Vissa also discussed the adaptability of government workers in the private sector, with differing views on their prospects post-layoffs. Additionally, Naresh proposed increasing tariffs on China and simplifying the tax code to benefit lower-income individuals, while Lutz raised concerns about the feasibility of eliminating income tax. Both acknowledged the complexities of the current tax system and the need for reform. Find Naresh here: http://www.nareshvissa.com/ Find Kerry here: http://financialsurvivalnetwork.com/ and here: https://inflation.cafe

Keith answers listener questions about getting started in real estate investing with limited funds and how to determine the true appreciation of a property against inflation. He also discusses: The impact of the LA wildfires on housing needs and some landlords raising rents excessively. Economic and housing challenges facing Canada, including high inflation and unaffordable home prices. And highlights the views of likely future Canadian Prime Minister Pierre Poilievre on addressing these issues. GRE Free Investment Coaching:GREmarketplace.com/Coach For access to properties or free help with a GRE Investment Coach, start here: GREmarketplace.com Show Notes: GetRichEducation.com/538 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, I answer three of your listener questions, then learn why LA area landlords got a bad name during this month's awful Southern California wildfires. Finally, why Canadians cannot buy houses anymore, and what lessons you can learn from Canada's real estate mistakes and the abject lunacy there today on get rich education.   Unknown Speaker  0:30   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 the 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   Unknown Speaker  1:16   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  1:32   Welcome to GRE from Gatlinburg, Tennessee to Pittsburgh, Pennsylvania and across 188 nations worldwide. I'm Keith Weinhold, and you are inside this week's installment of the program known as get rich education, I'm grateful that you're here, but you're not here for me. You are here for you. So let's talk about you and some of the listener questions that you wrote into the show about and as usual, whenever I have a batch of listener questions, I answer the beginner level questions first and then move on to more advanced questions. The first one comes from Jeanette in Seaford, Delaware. Jeanette asks, I only have a little money to invest in real estate. How do I get started with just a small amount of money. All right, Jeanette, well, first I would talk to a lender. You have to talk to a mortgage specialist or a loan officer to find out what you qualify for. You're basically getting them to punch holes into your financial picture. And then that way, Jeanette, you will know what holes to go, mend, so your loan officer is essentially giving you a free troubleshooting session. Now, our investment coaches here at GRE help you with some of that, but GRE doesn't originate loans, so you want to get with someone like a ridge lending group for help. And now, what are some of the holes that a mortgage lender might poke into your finances? Jeanette, well, getting your credit score up and they'll help you with that strategy. Or you simply need more dollars in savings, in what your mortgage loan underwriter calls reserves, or you might need to establish a two year job history, or you have to say, Pay off your car loan in order to get your debt to income ratio lower, or whatever it is. And since at GRE marketplace, the least expensive income property is probably about $120,000right now, a number that keeps going up with inflation. But what you would need is 23 to 25% of that between your down payment and closing costs, all right? Jeanette, so then about 28 to 30k that is the minimum lump of cash that you'll need to buy a property that is already fixed up and ready for a tenant, and that is a great way to start in real estate investing if you want to maintain your standard of living, okay, that is therefore the lowest entry point that you can do that. But if you're temporarily willing to let your quality of life slide for a couple years and maybe live communally. You can put as little as 3% down on a primary residence and then rent out the other rooms. Okay, that's the house hacking model, but depending on your setup, you know, maybe you're sharing a kitchen with roommates or suitemates, and therefore that temporary loss in quality of life. Maybe you can even Airbnb at a short term rental, in which case you will be buying the furniture. However, now with a 3% down payment on an owner occupied house, hack like that, you're probably going to have to pay a PMI premium, a private mortgage insurance premium of a few $100 per month. But still, this does get you in with very little money, since that's what you're asking about Jeanette. And finally, the third thing I'll bring up here is that you can get a combination of maintaining your standard of living and putting a small down payment on a property by using an FHA loan and three and a half percent down. And you can do that with a single family home, duplex, triplex or four Plex, living in one unit and renting out the others. So yes, you get both this way, but I will not go into the details on the FHA, because I have described that in detail on other episodes since it's how I started out myself. But there are a number of options right there for you to inquire about Jeanette, all starting with an investment centric mortgage lender like Ridgelendinggroup.com.     The next question comes from Jared in Pocatello, Idaho. Jared asks Keith, in the past year, my duplex in Pocatello went up in value 5% from 400k to 420k. How do I know how much of that 5% is true appreciation, and what portion of the 5% is from inflation? Oh, that is such a devastatingly cool question Jared, and that's exactly what I thought when I saw that question come in. Okay, so basically, Jared is asking, say, in this 5% price increase is 3% from inflation and 2% from appreciation, for example, or like, what is the breakout of those two components of the price change? And a lot of people don't understand the difference, and even know enough to ask a question this good. So props to you there. Jared. One thing you cannot do is just look at CPI inflation over the last year for the US, which is 2.9% and then say, Oh, well, then I guess the other 2.1% must be appreciation. Therefore, no, you can't really do that. There's more to it than that, for a lot of reasons. I mean consumer price inflation, like on a pound of ground beef at the supermarket, that is different from asset price inflation, and there are a lot of other reasons too. Appreciation is distinctly different from inflation, because the value of your property increasing 5% that has to do with the attractiveness of your property to the marketplace. Now there are attributes with appreciation, like proximity to high paying jobs, proximity to highways and shopping in desirable schools, which are basically those axiomatic Location, location, location qualities. Now I'm going to assume that you did not make an improvement or a renovation to the property Jared, because obviously that would hike up the value. Now other appreciation attributes that are distinctly different from inflation are things like population growth and wage growth in your area, what can really pump up appreciation is if the remaining availability of developable land starts shrinking and shriveling up in a desirable location. Contrary to popular belief, mortgage rates have little to do with appreciation. We can leave that out of this discussion. Now, how this is different from inflation is that inflation is not about the intrinsic value. Rather, inflation is the price of the home increasing because the currency is worth less. Now I hope that you find that explanation satisfying Jared, but what is dissatisfying is that it's actually hard to pin down a number and say, was this two and a half percent appreciation and two and a half percent inflation, or any other combination? And that's because inflation itself is practically impossible to accurately measure, and a lot of that has to do with an inflationary basket of goods that is just exceedingly difficult to adjust for attributes like quality and utility and substitution So Jerry did is likely that your duplexes 5% value increase is an amalgamation of both appreciation and inflation, that part I can confirm, but the exact breakdown for each is virtually incalculable, super insightful question there Jared.     The third and final of our three listener questions to get the show started today, and then I'll get into landlords in the LA wildfires and Canada versus us real estate. The final question today is from Jeter in Roseville, California. I know where Roseville is. It's just northeast of Sacramento, and I'm not sure if Jeter j, e t, e r is your first name or your last name, like former Yankees shortstop Derek Jeter, but only one name came in here. Jeter asks, Keith, I am a true believer in GRE principles. I'm looking to pounce on some property this year and get leverage and other people's money working for me, instead of only getting my money to work for me in my company's 401 k. Let me just interject here. You really get it. You really get it. Jeter, um, continuing on with your question, with mortgage rates around 7% I'd love to know where you think interest rates are headed next, and what is going to make rates move. Thanks, Jeter. Well, I've got to tell you, Jeter, not only do I avoid predicting future interest rates, but I don't know of anyone in the world that can predict interest rates with high reliability, especially over the medium to long term. James Grant, He's based in New York City. He puts out a publication called Grant's Interest Rate Observer that might just give you a better than 5050, shot of where they're headed next. He's a well regarded source. In fact, I saw James Grant speak in person a couple months ago, but I wouldn't put too much credence in any interest rate predictor out there. Now, just 11 days ago, I sent our newsletter subscribers a graphic of just how bad. I mean, really awful that recent interest rate predictions have been. I've never seen a chart like this. This chart looked like a centipede. Okay, the Bold Line was the actual federal funds rate that was like the centipedes body and all the hundreds of legs coming off this line were predictions that others had made, all deviating from the true line, the centipede body, which is what the rate really was. I mean, prominent experts rate predictions have a track record that's more abysmal than everyone saying we'd surely have a man on Mars, by now, terrible. Jeter. When you look at interest rate predictions, you're looking at a waste of your time. They're about as reliable as a weather app in a tornado a year ago, the collective brain trusts of all the economic wizards believed with devotion and alacrity that mortgage rates would be sub six now, instead, they are still about seven, which might correspond to a three or three and a half percent federal funds rate. They all thought the federal funds rate would be near three by now, but it's more like four and a half today. And what's hilarious is that, in more recent years, the Fed even tells us what they plan to do next. They even tell us it's little like having the answers to the test, and yet you still fail the test. You've got the cheat sheet and you still aren't doing any better? How can this possibly be? Well, the reason that I don't make interest rate predictions is because it is a surefire way to look foolish. Jeter, to answer the second part of your question, what moves interest rates around? The answer is, well, it's really broad economic forces and political forces, that is why it's tough, and this includes jobs reports, supply and demand of credit, inflation, a pandemic, a surprise new war in the Middle East, tariffs, GDP reports, surprise election outcomes, a massive change in tax policy and more. I mean, it is total entropy. Now, one thing we know is that persistently higher inflation will soon result in higher rates, just like we saw in 2022 I mean, rates rise in a bullish, robust and optimistic economy. And another thing that we do know is that sustained fear causes rates to fall. That's why, when you look at a chart, you see interest rates of all kinds plunge like a cliff diver during the 2001 dot com recession, the 2008 GFC and the 2020 COVID pandemic. The reason that rates fall during fearful times just like those, is because the economy needs the help and a little pro tip for you here, Jeter, when a recession begins, it's more likely than not that rates will fall. But see, it can be hard to predict a recession, as we've all found out recently, we just came off three fed interest rate cuts late last year, and that was a little weird, because the economy does not need the help that is sort of like offering Gatorade to someone that's not even sweating. Okay, and when rates scrape the ocean bottom floor at zero, from 2009 to 2016 and then again from 2020, to 2022,that's unhealthy. Natural market forces would mean that there's a cost to receive a service like borrowing money. Well, with zero rates, it feels like no one wants to save and everyone wants to borrow and spend. Zero rates, it is time to all out. Ball out. My two time GRE podcast guest here on the show, and super smart guy, Dr Chris Martinson, he thinks that rates are generally going to go higher from here. But you don't have to look far. You can find other wise guys that say they're going lower. At the last Fed meeting last year, they disappointed markets by signaling plans to only cut rates twice this year, instead of the four cuts that were previously expected. And now that's even changed since then, a lot of people question if those two cuts are even going to happen this year, given things like a hot jobs report that came flying in and still too high inflation. So this is kind of like expecting a decadent dessert of rate cuts, and instead you get, like, one Biscoff cookie, like they give you an economy on the plane. So Jeter, that's why I don't forecast rates. I don't think anyone can, but now, at least you have a couple resources, and you also know what factors move rates around.    Now if you want a fun, real time pulse on the market. Check out poly market. You might have heard of it by now. It's a site where you can place bets on various outcomes, a lot of non sports bets. You can see people put their money where their mouth is. You don't have to make a wager yourself. You can just see what people are wagering on. There are wagers on fed interest rate decisions. There at Poly market, you can even place a bet on if Jerome Powell says Good afternoon at his next press conference over there on Poly market, I'm not kidding right now, the odds of him saying Good afternoon at his next press conference are 96% so remember this, the market has always felt confident about where rates are headed, and the market has always been wrong. Interest rates don't drive property values. Their intrinsic worth is based on the timeless stuff, location, amenities, income, occupancy, size, density, business case, exit options and operating costs. Those are the things that drive property values. The bottom line with interest rates is that nobody knows the future interest rates direction is a pinball game of black swans and policy pivots. So instead, focus on the big things that you can control, like how many dollars you have, leveraging properties and keeping your operations on those properties efficient. So Jeter waiting to buy property generally harms an investor more than it helps them, because it's dollars on the sidelines that are paying the opportunity cost of not leveraging other people's money. Of course, if you buy your property at whatever interest rate today, and rates soon fall like a knife, well, then you can refinance at the lower rate, all while leverage keeps compounding and building your wealth. Thanks for the question,  Jeter.    If you have a listener question or comment or feedback of any type for us, as always, you can visit us at get rich education.com/contactfor either written or voice communication there, like I said earlier, that amazingly interesting centipede like chart of just how dreadful interest rate predictions have really been that was in our recent newsletter. Now it's too late for you to get that issue, but to get more like them, you can get our don't Quit your Daydream. Newsletter, completely free, just text GRE to 66866 that's text GRE to 66866.   now, when it comes to this month's historically bad, devastating LA area wildfires, I heard from a friend in that area last week. She lives just south of LA and her house was spared, fortunately, but she's been busy helping friends in the LA area who have lost their homes and businesses. It is truly tragic. And you know, what she told me, is the biggest, most compelling need right now, and I put some credence in this, since it's an independent on the ground report. This is outside of major media, displaced residents. Number one need is not food, it's not water, it's not clothing, it's not heat, it's not even community with 1000s of families without homes, the urgent need is for housing. You might not find that surprising. That's what she shared with me. I mean, it is a need so dire that even a family of six would consider a small mobile home or an RV rental to help with temporary housing. And a lot of these displaced families were you know, you got to consider the fact that before the fire, they were living in above average homes, even luxury homes. Now, as far as LA area, landlords that have housing to rent out, a lot of those landlords have jacked up the rent price. California's anti price gouging. Laws make it illegal for landlords to raise rent by more than 10% in the first month to six months after a disaster is declared. Now the BBC reported that one resident who lost their home in the historic California wildfires found a rental property that was previously priced at $13,000 per month, they offered $20,000 per month, and the landlord countered with 23k that is a 75% price hike. And it's not the only example. A Bel Air home located in an evacuation warning zone was listed on Zillow recently at 29,500bucks a month. That is an 86% hike from its September of last year price. That's according to the outlet called La est, another realtor raised in Encino, California, listing from 9k per month at the beginning of this month to 11 and a half K after the fires started. That's according to the LA Times. The realtor then backpedaled to abide by the 10% rule, which she said that she did not know about. And for a little context there, yes, those rent prices sound high, and La rent was already high. It averaged $2,820 a month. That's compared to $1,983a month nationally. Those figures are per Zillow. Now I don't know what percentage of La landlords are engaging in. I guess what I'll call extortionate behavior, but even if it's the vast minority of landlords you know that gives them a bad name, to have the word landlord in headlines like this. And is this behavior extortionate? In some cases, it probably is, I suspect, just a guess here that some landlords might think they have a chance of insurance paying some or all of the higher rent for their tenant that was displaced from their original home. But let's keep things in perspective here. What this does to good landlords reputations. You know, that's not the story here. The story and the effort should be in helping the displaced people. And of course, there are so many angles to the devastating la wildfires. One of them is that many believe zoning laws pushed homes out into fire prone areas. I recently shared that reason.com article with you in our free newsletter. So again, to get our Don't quit your Daydream newsletter, completely free, which I write every word of myself. Text GRE to 6866 you can do it now, while it's on your mind, hit pause and text GRE to 66866 the abject lunacy in Canada's real estate market, in what US residents and others can learn from all this, that's next. I'm Keith Weinhold. You're listening to get rich education.   Hey, you. Can get your mortgage loans at the same place where I get mine at Ridge lending group NMLS, 42056, they provided our listeners with more loans than any provider in the entire nation because they specialize in income properties. They help you build a long term plan for growing your real estate empire with leverage. You can start your pre qualification and chat with President Caeli Ridge personally. Start now while it's on your mind at Ridge lendinggroup.com That's ridgelendinggroup.com.   Oh geez, the national average bank account pays less than 1% on your savings, so your bank is getting rich off of you. You've got to earn way more, or else you're losing your hard earned cash to inflation. Let the liquidity fund help you put your money to work with minimum risk, your cash generates up to a 10% return and compounds year in and year out. Instead of earning less than 1% in your bank account, the minimum investment is just 25k you keep getting paid until you decide you want your money back. Their decade plus track record proves they've always paid their investors 100% in full and on time. And you know how I know, because I'm an investor in this myself, earn 10% like me and GRE listeners are text family to 66866, to learn about freedom. Family investments, liquidity fund on your journey to financial freedom through passive income. Text family to 66866   Naresh Vissa  26:41   this is GRE real estate investment coach. Naresh Vissa don't live below your means, grow your needs. Listen to get rich education with Keith Weinhold.   Keith Weinhold  26:57   Welcome back to get rich Education. I'm your host. Keith Weinhold, let's discuss the Canadian economy and Canadian real estate. Because even if you live in the US or Central America or Europe or one of the other 187 nations that were heard in outside the US, you know there are lessons here for you, and there are lessons here for me as well. There is some just jaw dropping material that I'm about to share with you, and I won't discuss the politics of it, because that's not GRE 's lane. Instead, it is the policy. Earlier this month, Canada's equivalent of the President, Prime Minister Justin Trudeau announced that he will be resigning soon. And Trudeau has been under a lot of criticism. At last check, his approval rating was a miserable 22% now, most people think that the next and future Prime Minister of Canada will be a man named Pierre Poilievre. In fact, the wagering site poly market has polyev with an over 80% chance of being Canada's next prime minister, and you will hear him speak shortly here. And yes, that is how an Anglophone pronounces his last name, polyev In a recent interview with Dr Jordan Peterson. You'll listen into here shortly. Polyev, Canada's likely next leader here, first, he describes some of the problems with Canada's economy, and then he'll get into their real estate market. Right now, the median home price in the United States is about 450k you might think that Canada's should be lower, because Canada has more land in the US and Canada has just about 1/9 of the US population. So a low population density. I mean, the US is population density is more than 10 times Canada's. But no, due to some of these policies, it's just the opposite, because Canada's average home is over 725k. yeah, that's just for a basic home. I've got to admit, I did not know who polyev was until just a couple months ago. I'm starting to like him the more that I listen to him. He's a clear thinker and a clear speaker. Here is a clip of Canada's likely next leader talking about Canada's problems. This is 10 and a half minutes long. I'm going to listen to this again with you right now, and then I will come back along with you to comment. This is why you can't buy a house in Trudeau, Canada.    Unknown Speaker  29:41   Our productivity is another major problem right now, and that's productivity. Sounds complicated. It's actually extremely simple. You just take the GDP and you divide it by the hours worked in the country. So American GDP is $80 so for every hour an American worker works, on average. He or she produces $80 of GDP in Canada, it 50. So that's every hour. So that means we have to work 60% more just to make the same amount and have the same level of income to buy food and housing. And so that's the Now that sounds like a bunch of wonk speak that should might seem like it only matters to someone staring at a spreadsheet or a graph or a chart, but in fact, that's reflected in the fact that our 2 million people are lined up at food banks because they can't afford food, and 80% of youth can't afford homes, and our quality of life is and the things we can afford to provide our kids have fallen back so much there's a real, real life, Stark and easily comprehensible statistic. And if you work and you produce $80 worth of goods and services in an hour, yeah, compared to working and producing 50, obviously, that's a substantial shortfall. Yeah. So, and is that, is there a starker indicator of the economic disparity between the US and Canada than that? Or do you think that's the primary statistic? I mean, I think housing costs are another one. I mean, right. There was a study out just 10 days ago that has Toronto and Vancouver now by far the most unaffordable housing markets in North America. And so you know, housing costs are 50% higher in Toronto than they are in Chicago, even though Chicago workers make 50% more money. The same is true between Vancouver and Seattle. Seattle workers make way more than Vancouver workers, but housing is 60 or 70% more expensive in Vancouver. So on, all the measures by a lot. Yes, a lot by a lot. Yeah, and we're and we're paying more, more by a lot, right? And most of that's transpired the last 10 years. Yes, and we're paying the difference by accumulating enormous quantities of debt. Our households are by far the most indebted in the g7. when you take you divide total household debt by GDP, we now have a bigger stock of household debt than our entire economy. We are more indebted as households than the Americans were right before the oh eight financial crisis. And so what we have as a model in Canada is we have artificial scarcity imposed by very heavy and restrictive state, confiscatory state, so that suppresses production. But in order to allow for consumption, we print money and borrow money and then flood the economy with that money. Okay, so that's another problem. So that's the inflationary problem. Yes. Now the problem with inflation just many problems with inflation, but one of them is that it particularly punishes people who are thrifty and who save? Yes, right, right? So inflation punishes the people who forego gratification to invest in the future. That's right, right? So that's a very bad idea. It's our inflation is the single most immoral tax for so many reasons. One, it takes from savers and people who are trying to be responsible, thus making it impossible to be responsible, because you will, if you, if you refuse to play the inflation game of borrowing money to buy things you can't afford, someone else inevitably will, and you won't be able to afford anything. So you ultimately have to actor responsibly. It's like Milton Friedman was asked, What would you do with your money in times of inflation? He said, spend it right like the first thing you want to do when inflation is out of control is to make sure you get rid of this thing that's losing its value. The second reason it's immoral is it takes from the poor, because the poorest people cannot put they do not have the ability to buy inflation proof assets like gold and real estate and fancy watches and art collections and wine fancy wines and things that go up with or even exceed inflation. So it's a very big wealth transfer from the have to the from the from the poor and the working class to the very, very wealthy, a very small group of people actually get richer. So the socialist policies that provide goods and services to Canadians, let's say, or denizens of other countries by printing money, actually punish the poor brutally. Oh, absolutely, and consequence of the inflation that they generate. Yes, I mean all the socialist policies in practice take redistribute from the working class to the super wealthy in practice, and I can prove that again and again and again in practice, yeah, in practice. In practice they with the all the redistribution that happens in the so called socialist countries ultimately goes from the working class to the super wealthy. That is the reality. Okay, so, but just one last thing on inflation. The final reason why it's so immoral is nobody votes on it. The basic principle of our parliamentary system is the government can't tax what parliament has not voted the people must no taxation without representation, right? But no one ever votes to have the money printing happen. And so the inflation is adopted secretly, and you blame the grocer because groceries are more expensive, or your local gas station because gas is more or your realtor because house, in fact, it was actually the government that bid up all of those things with money printing, and you didn't even know about it. So it is silent. It's a silent thief that takes from the poor and gives to the richest people and destroys the working class. And that's why I am I want to crush inflation. We need a policy that seeks to just to stop inflation at all, at all costs. Okay, so what would you do to to stop inflation? Well, we stopped the money printing. You know, we need a we need. And the money printing is just a means to fund deficit spending. Governments borrow to define the deficit, yeah, for people. So basically, the deficit is the difference between what the government spends and what it brings in. It's usually calculated on a yearly basis, that's right, yeah, and the debt, but the debt is just the accumulation of the deficits, right? So the deficit right now is $62 billion and I thought it had a ceiling of 41 billion. Yeah, right. Isn't that a ceiling? Yes, not a I guess not. And look, there are very real present day consequences for that. Deficits increase the money supply. Central banks effectively facilitate that increase in the money supply, and that causes inflation. And, you know, it's, it's why our, you know, I have a buddy who's whose family moved here from Italy back in 1973 His father worked paving roads and his mother made sandwiches in a senior's home, they were able to pay off their home 10 minutes from Parliament Hill in seven years. Right, their grandchildren wouldn't be able to save up a down payment for that home in 15 years, and they will be university educated with all the advantages of having been here two decades. That is the consequence of the money supply growing vastly quicker than the stuff that money buys. So we have to do is stop growing the money supply and start growing the stuff money buys. Right? Produce more energy, grow more food, build more homes. We have to unleash the free enterprise system to produce more stuff of value, and this is where we have to remove the artificial scarcity that the government is imposing on the population. Let's incentivize our municipalities to grant the fastest building permits in the world to build homes. You have a plan for that in principle, yes, I mean, I'm going to say to the municipal governments, they either, they either speed up permits, cut Development Charges and free up land, or they will lose their federal infrastructure money, so they will have a powerful carrot and stick incentive to speed up home building and the percentage of a new house price. That's a consequence of government, taxation and regulation. Well, in Vancouver, it's 60% 66 does that include the land and the house? Yes, that includes everything. So I'll tell you how they calculate it, CD, how took the cost of building a compare the cost of building a home to the cost of buying a home, yeah. And he said, what's the gap between those two things? So they added up land, labor, profit for the developer, materials, and they compared that to the sale price, and they found the gap was $1.2 million so that's $1.2 million of extra cost, above and beyond the materials, the labor, the land and the profit for the developer. So where's that going? Well? The answer is, development charges,sales taxes, land transfer taxes, the delays in getting the permit. Time is money, the consultants, lawyers, accountants, lobbyists that the developer has to hire in order to get the approval that so in other words, we're spending twice in Vancouver. We spend twice as much on bureaucrats than we do on all other things combined. To build a home, more money goes to bureaucrats than goes to the carpenters, electricians and plumbers who build the place. And to add insult to injury, those trades people who build homes can't afford to live in them, right? I mean, it is. So what we need to do is slash the bureaucracy. And I'm going to I'm going to say to the mayors, you're not getting federal infrastructure money until you slash your development charges, speed up your permits. I'm going to take. The Federal GST off new homes under a certain limit, and encourage the provinces to do the same. But we've got so much land. We should have the most affordable housing in the world. We have. It should be dirt cheap because we have the most dirt we just need to get the government out of the way.    Keith Weinhold  40:20   Yeah, again, that was Dr Jordan Peterson interviewing Canada's likely next leader, Pierre poilievre, just a few weeks ago now. Polyev, when discussing inflation and investing, you know, he also brought up points that I've surfaced here on the show over the past few years. He even articulates a few things the way I've described them. It's almost weird, like inflation means that it actually makes sense to strategically borrow and spend and not to save. It's almost like polyev is a GRE listener. I love how he said, stop growing the money supply and start growing the things that money buys. We're talking about things like homes and energy and food. That was eloquent. I mean, in Vancouver, the percentage of a new house cost for taxation and regulation is 60% of the cost of the home, fully 60 and then, if that's not surprising enough, due to all these layers of regulation, the cost of building a new home is $1.2 million more than the cost of buying an existing home. Just astounding. This might have even left you either flabbergasted or gobsmacked, which one?So some parallels to the US there in Canada, but back here in the US, the housing market is clearly more affordable and healthier. Polyev really pointed out a direction that the US does not want to fall into. In fact, we've got a pretty good Canadian listening contingent. So let me ask, Do you have a connection to Pierre poilievre, if you do, we would probably like to invite him here on to the show with us. If you do, or you even know someone that knows someone, let us know right into get rich education.com/contact or email us directly at info@get rich education.com and we'll make that happen now. What is happening at GRE marketplace right now is that our listeners are getting brand new build investment property in Florida and some other places at competitive prices and a fixed interest rate of just four and three quarters percent. So yes, that is sub Canadian prices, by far below Canadian prices, and a four and three quarter percent rate. And then on top of that, you get to pay an affordable insurance premium in Florida because it's new build, or similarly, it's that way in other states if you buy new build, but builders overbuilt in some pockets of Florida, like I've mentioned to you before. So at this time, on top of all that, they're offering a free full year of property management. And because when you own a new build property, it's not occupied with tenants on day one, and this means that you don't inherit unknown tenants. And builders are also offering you up to three months in a rent guarantee in case your single family home or duplex or four Plex is not occupied yet, the builder would pay the rent for you. Really amazing incentives, but probably none better than that four and three quarter percent mortgage rate. I mean, it's like you get to roll the clock back to when rates were artificially low, back in 2021, and 2022, and lock it in. Now, our GRE investment coaches connect you with the investment property that's right for you based on your needs and your goals, including those four and three quarter percent rates, if you so choose, it is all free at GRE marketplace. From GRE marketplace.com just click on the coaching area and you can book a time right there until next week. I'm your host. Keith Weinhold, don't quit your Daydream.    Unknown Speaker  44:23   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   Unknown Speaker  44:51   The preceding program was brought to you by your home for wealth building get rich education.com you.  

Keith discusses the inefficiency of compound interest in wealth building, advocating for compound leverage through real estate investments. He illustrates how a $100,000 investment in a $500,000 property at a 6% annual return can yield much higher returns due to leverage (see the math below). He also explains how mortgage rates are influenced by long-term bond yields and discusses the benefits of real estate over stocks. A coaching call with GRE Investment Coach Naresh highlights the process of investing in real estate, including financing considerations and the role of a coach in guiding investors.  Here's the math on a 5:1 leveraged RE return at a 6% appreciation rate:  Year One: $500,000 x 1.06 = $530,000. Subtract $400K debt = $130,000 equity Year Two: $530,000 x 1.06 = $561,800. Subtract $400K debt = $161,800 equity Year Three: $561,800 x 1.06 = $595,508. Subtract $400K debt = $195,508 equity. GRE Free Investment Coaching: GREmarketplace.com/Coach Show Notes: GetRichEducation.com/526 For access to properties or free help with a GRE Investment Coach, start here: GREmarketplace.com Get mortgage loans for investment property: RidgeLendingGroup.com or call 855-74-RIDGE  or e-mail: info@RidgeLendingGroup.com Invest with Freedom Family Investments.  You get paid first: Text FAMILY to 66866 For advertising inquiries, visit: GetRichEducation.com/ad Will you please leave a review for the show? I'd be grateful. Search “how to leave an Apple Podcasts review”  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   Keith, welcome to GRE I'm your host. Keith Weinhold, make America rich again in play numbers. You'll get a fresh take today on how compound interest does not build wealth and compound leverage does. Then you'll learn about how bond market moves affect mortgage rates. Finally, you get to listening to a call between one of our investment coaches and a GRE follower 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 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  1:19   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  1:35   Welcome to GRE from Altoona, Pennsylvania to Saskatoon, Saskatchewan, and across 188 nations worldwide. I'm Keith Weinhold, and this is get rich education, the voice of real estate investing Since 2014 you're going to hear some things that you've never heard before today, and some listeners tell us that GRE is unlike any real estate information they've ever heard. And with what I want to tell you today, well, again, it's information that I've never heard anywhere else, either. So what I endeavor to regularly do for you here on this show is to tell you what I wish I had known sooner make America rich again, nope, that is not my presidential campaign platform for my run in the year 2032, or anything like that. It is this, don't get your money to work for you. In fact, if you want real wealth, don't work for money or get your money to work for you. Don't make either of those things the focus anyway, avoid growing your money through compound interest, because that's not the formula either. Now you and I have covered that ground before, if you're new here, and that material makes you say what you might have thought things like that were the holy grail of wealth building, nope, and today, for the first time on the show, in over 500 episodes, I'm gonna put some real numbers to that to show you exactly what I mean. Let me explain to you how to invest to truly win in a way that you've never seen in your life. You're not gonna improve only your life, but generationally, your entire family's life. At your job, you are like a dock worker. You're trying to pull your boat up to the dock so that you can then make a short, easy hop onto the boat and get away. And you'll learn how I did that and how I would begin investing today if I could start all over again. Now, after I had graduated college and had a job, I used to think, Well, yeah, I'll invest through a 401K in mutual funds, because it's easy and it's just deducted right from my paycheck. Well, when you do the easy thing in life, there's usually not much reward. And back then, I thought, Well, why would I invest in real estate anyway? I mean, a stock and mutual fund return on investment is about 10% over time. Real Estate is more like five or 6% plus real estate has all these maintenance hassles, and in the stock market, your 10% return enjoys compound interest. I don't really know how that works over on the real estate side, all right. Well, let's look at some numbers with how this would all work anyway. Here we go with $100,000 invested in stocks at 10% after year one, it's grown to $110,000 in year two, you don't just have 120k you've got more, because the 10% compounds on the 110 10k so now in year two, you've got $121,000 and I bet that you don't see any problem in this yet, right? Hey, things are going great. And after year three, you're up to $133,100 All right, so there we are. You begin with 100k and after three years, you've got then $33,100 in profit, your gain, on top of your 100k All right, that's what compound interest does. Well, let's take a closer look at that. $33,100 first, okay, I could attack it a slew of reasonable ways, if I wanted to, we could subtract out the constant drags on that of inflation, emotion, taxes, fees and volatility. But let's just take one volatility. We smoothed out our 10% return saying that you achieved it every year in that example there, we know that does not happen in the real world. Stocks are volatile, and the more volatile the return, the lower the return. Because instead, if you were up 20% one year and then down 20% the next year, which stocks are known to do you're not even you're down your 100k would instead go up to 120k in year one and down to 96k in year two, a loss, like I've told you before, that right there is the difference between what's called the compounded annual growth rate and the average annual return. But we'll just leave stocks number right there. We'll say that despite all five drags, volatility, of which is just one, the compound interest still somehow gave you this $33,100 gain. That number is about to look really disappointing, and this is about to get really interesting.    Let's compare that to real estate, and we'll say that despite that, it only returns, say, 6% per year here. Well, how do most people buy real estate? They do it with other people's money. OPM, remember earlier that I talked to you about how you don't create wealth from getting only your money to work for you, like you did in the stock example. Yeah, here's how you ethically use other people's money to buy real estate. When you invest 100k in a rental property. That's your 20% down. You get to borrow 80% from the bank, 400k so now you control a $500,000 property. And here's the thing, its entire value appreciates a 6% all 500k not only your 100k invested, yes, so you're now about to get the return on both your 100k and all of the bank's money. 400k that you get to leverage returns from both are about to go to you. Oh, yes, let's run these numbers, instead of compound interest, you're about to get compound leverage, using those borrowed funds to amplify your own return. So with your 100k invested on a 500k property at 6% after year one, you've got 130k after year two, $161,800 and after year three, $195,508 why? Because, again, your 6% return was accumulating on the 500k property. All right, so after year three, with this $195,508 you're gonna subtract out your 100k down payment, and your gain is $95,508 All right, that is compared to your compound interest based stock and mutual fund return of just $33,100 if you'd like to see the math for that leverage. Return that is in the show notes. Look for it there. See, by employing other people's money, it's like when you were a kid and in the evening, your body cast a shadow five times taller than you actually were. That's how leverage allows you to magnify returns and appear to be a bigger, taller investor than you actually are. Yes, your 20% down payment on real estate gave you five to one leverage amplifying your returns. If you listen to the show for a while, you understand that, but you never saw that numeric dollar per dollar comparison like we just did. So after three years, how about 33k profit on stocks and 95k on real estate? Real estate returns almost three times as much. But in reality, it's probably more than a 3x win for real estate because you're 95 Gain over three years in real estate, equity is actually going to be higher, because your tenant is also paying down your principal balance on your 400k loan every single month for 36 months in this three year example, if your property is vacant, 10% of the time they paid it down for you 33 out of 36 months, and as we know, at the same time, inflation pays down your loan even faster than the tenant does. Real Estate is also more tax advantaged than your stock gain, because you never have to pay capital gains tax on your 95k profit with a 1031 tax deferred exchange. And on the downside for real estate, upon owning the property, you will need to pay closing costs of maybe four to 5% of the purchase price. All right now, in this 95k gain for real estate versus 33k gain for stocks, I did some rounding there. Yes, even if your stock return was in a 401 K type fund, well, you would still have to either pay the tax now with a Roth or later with a traditional retirement plan. So you're still paying the tax. The higher real estate return is also more likely because real estate is less volatile than stocks, and I've got more vitally important things to tell you about how you just grew wealth about three times faster with leverage than with compound interest. And yes, this is exactly the kind of stuff I wish I knew when I had just started out. Now if you think you don't have the money for a down payment. I'll get into that. But first, a big review here, and I've woven threads of this review through previous episodes. First, don't focus on getting only your money to work for you. And second, stress compound leverage, not compound interest. Optimize using other people's money. And when you take out a loan for rental property, you get to use other people's money three ways at the same time, three different entities, you're using their money. Number one, it's for the bank's loan, like we discussed. Number two, you're using the government's money for generous tax incentives. I only touched on one of the tax incentives. And then, thirdly, you are using the tenants money to pay down your mortgage loan and pay all of your properties operating expenses, like maintenance repairs, insurance, property taxes and pay your property manager to make this all mostly passive for you. I don't manage any of my own properties. I think you already know that. And on top of that, hopefully you'll have a little residual income after expenses every month, your monthly profit of rent income minus expenses, that is called cash flow. And when I talk about doing this ethically, use an experienced property manager. Never get called a slumlord. Provide housing that's clean, safe, affordable and functional, okay, some really core, enduring, GRE mantras in there. But what if real estate goes down in value? It's not common, but I did have it happen to me around 2008 we won't even talk about what happens when stocks go down in value, but when real estate values went down in 2008 it just didn't matter that my rental property's values were temporarily suppressed because my rents were higher than my expenses, I was still making income each month off the property. That's a good way to own property, if you can. I'm not motivated to sell an asset. I mean, are you motivated to sell an asset that's paying you income every month during a time when it's capital value dip, so probably not. And by the way, there is nothing new or esoteric here. You just haven't had it explained to you in this way before. This 33k from stocks and mutual funds versus 95k from real estate you haven't seen that before. This is simply buying houses with plain vanilla 30 year fixed rate loans, and it's just simply long term buy and hold. This is not flipping, as I like to say. This is not day trading. This is decade trading, as you continue along in your real estate journey, keep stacking more properties, and it's gonna go faster than you think, because you've got this power of compound leverage, and your tenant also pays you income that you can use toward buying the next property, and then as a backup, you have that trapped equity that keeps accumulating in your property. And the reason this goes faster than you think is that you can also release that equity by removing it with a completely tax free event, a cash out refinance, all while you still hold onto the asset and you. Use the untrapped equity to put down payments on more property. Now, what if you think you don't have the money to start or get as big as you want, as fast as you want? Well, I've met a lot of people that when they understand this compound leverage concept, they withdraw their 401 K funds, pay a penalty and pay the taxes, and they put those funds toward real estate. I mean, you would owe taxes on it anyway. Now that part may or may not be ready for you, but you know, once I understood this, what I did is I stopped contributing to my 401K and I instead got into compound leverage. Yeah, this is how to make America rich again. Now, what if you think you don't have 100k to invest in property like we did in our example? Well, there are perfectly good $200,000 properties at GREmarketplace.com where you could make a $40,000 down payment. But you still might be thinking, I'll just say that the real estate market is just really competitive now, and that your small down payment maybe it can't compete with a deep pockets all cash offer, because all cash buyers can close really fast, but no your small down payment can still compete with all cash offers, because Some sellers don't want a quick sale for either tax reasons or myriad lifestyle reasons that they might have, I like to say that using debt is like using fire if it's misallocated, like with 23% credit card debt, that's what the average credit card interest rate is right now, 23% well that can burn down your financial house. But if you know how to use the debt in a controlled manner, like from income property that others paid down for you, oh, that fire is contained in a stove, and that fire or fireplace will heat your home. If I could start all over again with what I know now, it would be to embrace good debt, because tenants pay down this debt for me, so use it as leverage to build a real estate empire. Think of it this way, besides the employer match, every dollar that you lock inside a 401K is $1 that you cannot use to leverage other people's money. Back when I started investing, I should not have contributed to a conventional retirement plan beyond the employer match myself. So I used leverage to pull my boat up to the dock more than three times faster and escape the day job when I was still young enough to enjoy it. And once you know the difference, why would you want to do life any other way? You might have heard that real estate has made more people wealthy than any other investment today.    You've learned how now, sometimes it is hard to stop and turn off a mindset if the same thing has been believed for a long time. I think we've all experienced that. If you believe something for a long time, well then it's hard to change your mind on that, and you might even fight and defend that core belief. That could be the case here with me, denigrating the wealth building capability of compound interest. And if you're still wrestling with that yourself, a great compliment where I discuss this more in depth and in a different way, can be found on an episode that I did earlier this year that is on GRE Podcast, episode 507 episode 507 is called compound interest is weak. I'm here to talk to you about things that are really gonna move the meter in your financial life, like what I've covered with you so far, and what I'm gonna help you learn next. You know, there's just some information out there, even real estate information, it's just not that useful. Say, for example, mortgage purchase applications were down from last week, but yet they were up month over month. Well, that might matter to certain sub industries, but it doesn't move the meter in your life with how you're going to actionably build wealth.    Hey, before we move on, I want to give a major shout out to this show's long time, steady, capable sound engineer, Vedran. He just hit the 10 year mark of filling that important role for us here. Yet 10 years almost since the inception of this show. He's been with us since November of 2014 so since about episode five, and he's edited every single episode since then, and he recently told me that he looks forward to the next 10. Congratulations, Vedran. Also, thanks to you, the listener, the follower. Here, we held three GRE live virtual events this year, webinars. You. You are really taking action. Back in June, we broke a record with 307 registrants for that event. And then our latest event that was held about 10 days ago saw another record broken, 528 of you registering, and I say thanks, because you make me feel good. You're showing that I'm helping make a difference in your life. And now maybe you're thinking these events or this platform, it's getting too well known, and if you show up to a future event that you might not get to ask a question, no, that's not the case. Not everyone that registers shows up for the event live, and then you can ask a lot of your own questions with a personal free coaching call as well. I'll let you listen into a coaching call later on, today's show. In fact, now I've shared with you a few times before that changes to mortgage rates don't follow changes in the federal funds rate that Jerome Powell and the FOMC said. I've also told you that mortgage rates closely track long term bond yields, but let me tell you about what all that really means, and this is going to help you understand and perhaps even predict the future direction of mortgage rates. In fact, it's unusual. You know, the largest market in the world is not the real estate market, it's not the stock market, it's the bond market. And What's unusual is here we are on episode 526, and we've really never discussed the bond market. Well, you're probably aware that a month and a half ago, the Fed dropped interest rates by a half point. Their next decision is in just three days. Now I don't think they should drop rates again, though they could. That's because since the rate cut, GDP and job growth have been strong. That's why I don't think they should do it. I mean, rates usually get cut to help a wounded economy, so why lower them now? I mean, recessions usually see rate cuts. But here's what even fewer people understand when the Fed cut rates a month and a half ago by a half point, why have mortgage rates soared since then? They were about 6.1% and then the Fed made their cut, and mortgage rates recently spiked up to 6.9% well, many still feel that the long term trend for all types of interest rates is lower. But you know for one thing, rates are really hard to predict. The Fed only controls short term rates. Long term rates, like the 30 year and 15 year mortgage are tied most closely to the yield on the 10 year treasury note, and here after I'll just call that the 10 year All right, so what is this and what controls it? Well, don't let that name intimidate you. This is get rich education. So let's break down each word yield on the 10 year treasury note. Yield just means interest rate. 10 years is the period of time that this loan is made for the duration the US Treasury issues them so they receive the loan and a note is an IOU. It was also known as a bond. That is what's held by the person or the entity that loaned the money, the person that loaned this money to the Treasury. It could be you yourself, or it could be a foreign nation. So you hold on to this note because you made the loan to the Treasury. That's the breakdown of every word of the phrase the yield on the 10 year treasury note. Okay, so to say it a different way, if you hold a 10 year treasury note, that is basically your receipt, your proof that you made a 10 year long IOU to our federal government and it is going to pay you an interest rate known as a yield. All right, that is the simplest explanation I can give. Well, a month and a half ago when Jerome Powell cut short term rates, the 10 year was 3.7% at that time, and at the beginning of last week, it was up to 4.2% that's the highest since July. And again, 30 year mortgage rates most closely track the 10 year all right, as you and I sort of hold hands through this together next, let's ask what made them rise. And you know, some think this is harder to understand than trying to understand why YouTube viewers constantly fall for ludicrous housing price crash videos. Okay, but relax. This is easy. When the economy gets hot, all these things tend to rise in value, real estate, stocks and also productivity rises. Employment rises. Is an inflation that tends to rise as well. Because a 10 year investor needs a real return above the rate of inflation, this yield must rise as well. That's it. You got it. You got it. So therefore, when a rosy jobs report comes out, the 10 year tends to go up. When a strong retail sales report comes out, the 10 year yield tends to go up or a high flying CPI is released, the 10 year tends to go up. And therefore, because it rose in the past month, investors have expectations for a strong economy and more persistent inflation. So conversely, expect both the yield on the 10 year treasury note and the 30 year mortgage rate to fall when the economic outlook gets more dim. It's important to understand that, like a lot of things in the stock market, yields on the 10 year they tend to be more of a reflection of future economic expectations than the current economy. And this should be pretty easy for you to remember, because when you think about it, that makes sense. Since you've lent out your money to the federal government for 10 years. I mean, you're really interested in what that 10 year future is going to look like. So yes, though this is somewhat less exciting than watching a motorcycle jump over the Grand Canyon now that you listen closely for the last few minutes. Congratulations. Now you know that the 10 year can tell you both what investors expect to happen in the future, and can tell you the direction of 30 year mortgage rates. And, yeah, I mean, this is just more the type of material that I wish someone had explained to me sooner, in a way, just like that. And you know, are you interested in doing things that at the end, they make you say, You know what, I just got 1% better this week. I mean, think about the kind of person you'll be if you make yourself just 1% better each week. Now you better understand how leverage beats compound interest and what makes mortgage rates move. Go out and vote tomorrow as far as next, listen into one of our GRE investment coaching calls. I'm Keith Weinhold. You're listening to get rich education.   Hey, you can get your mortgage loans at the same place where I get mine, at Ridge lending group NMLS, 42056, they provided our listeners with more loans than any provider in the entire nation because they specialize in income properties. They help you build a long term plan for growing your real estate empire with leverage. You can start your pre qualification and chat with President Caeli Ridge personally. Start Now while it's on your mind at Ridgelendinggroup.com that's Ridgelendinggroup.com.   your bank is getting rich off of you. The national average bank account pays less than 1% on your savings. If your money isn't making 4% you're losing your hard earned cash to inflation. Let the liquidity fund help you put your money to work with minimum risk, your cash generates up to an 8% return with compound interest, year in and year out. Instead of earning less than 1% sitting in your bank account, the minimum investment is just 25k you keep getting paid until you decide you want your money back. Their decade plus track record proves they've always paid their investors 100% in full and on time. And I would know, because I'm an investor too, earn 8% hundreds of others are. Text FAMILY to 66866, learn more about freedom. Family investments, liquidity fund on your journey to financial freedom through passive income. Text Family to66866.   Zack Lemaster  29:08   this is rent to retirement. Zach Lemaster, listen to get rich education with Keith Weinhold, and don't quit your Daydream.   Keith Weinhold  29:22   Welcome. Back to get rich Education. I'm your host. Keith Weinhold, there will only ever be one GRE podcast episode five under 26 and you're listening to it. Let's let you listen into a coaching call between GRE investment coach Naresh and GRE follower, Brenda, and then I'll be back to wrap it up at the end.   Naresh Vissa  29:41   hey, Brenda, good to Good to see you after emailing back and forth. Thanks for setting up this call.   Brenda  29:47   Yeah, thanks, Naresh, thanks for setting up time to talk to me.    Naresh Vissa  29:49   Yeah. Well, tell me what made you schedule this call, like, Why did you hit that button saying I want to talk to the real estate investment coach?   Brenda  29:59   Yeah, well, I've seen some of the newsletters that come from GRE I'm familiar with some of the podcasts, but then I had gotten into the newsletters, and then I saw that there was an option for a free consultation to talk to you. And I thought, Well, I'm not sure what this really means, or what we talk about, or how you can help me, as far as, like, the vision, or how do I set my goals? Or what is it exactly that I would do with you with GRE, like, what kind of consultation Do you provide?   Naresh Vissa  30:29   Yeah, well, so that's you came to the right place. So let me tell you a little bit about GRE, a little bit about me, who we are, how we operate. So get rich. Education is an education company. As you know, you listen to the podcast, you read the newsletter. It's free. The podcast is free. The newsletter is free. You can go to our website, read our blog, go through past podcasts. You can subscribe to our YouTube channel, subscribe to our social media, Tiktok, Instagram, Facebook, X, you name it. That's all free content available for you, and this service, the real estate investment coaching, is completely free of charge. I know that sounds kind of crazy, but you'll never pay as a dime. I'm here to help you throughout and along your real estate investment journey. Think of me as a super connector, someone who can introduce you to all the right people, whether it's specific markets you want to invest in. Providers. There, wholesalers, flippers, lenders, appraisers, although your lender will take care of the appraiser part, if you need a second lender, financing, CPAs, attorneys, anything at all, just come to me and I can introduce you to the right people, or at least point you in the right direction. I'll try my best to do it 100% of the time. I don't, or I should say, I don't, have answers 100% of the time, but I do have answers most of the time, and I can forward you and refer you, point you in the right direction. So think of me as a super connector. Think of me as your silent partner in deals, because I get any equity in the deals who you don't have to pay anything to think of me as an advisor, a consultant. Again, this is a completely free service. There's you're not going to get like, a bill in the mail saying, Hey, you talked to Naresh five times, so you owe us $1,000 for that. Now, there's none of that. So the most common question I get after telling people this or, like, well, then, I mean, you can't be doing this for free. Like, why are you doing great? Like, like, yeah, what's the catch here? And they also have, I mean, I'm sure you're wondering, how do you make money? Well, if you listen to the podcast, if you go to our website, you'll see advertisements, sponsorships. We are paid marketing fees, advertising fees from partners. So you listen to the podcast, I'm sure you hear many of those commercials. We make our money on the back end, so we can keep services like this and our newsletter and our podcast free on the front note, like I said, GRE is not is an education company. We are not a broker or a wholesaler or a flipper or a builder or an agency or a realtor service or any of that a brokerage, where we're not of that, we're purely education, education based through our educational content or free educational coaching, which I offer too. So that's what you are. Got it .we work with all those other companies. So we can refer you to all those other types of companies that can help you on your real estate investment journey. But we are not any of those. Now me, personally, I am an investor myself. I own eight properties in southeastern United States. I got started in 2017 I bought my first property in a single family home. That was rehab. Back then, rehabs are very hot. That was what you should get in, that what made sense to get into. And I scaled pretty quickly. I went from one to eight in a matter of it's been seven years since I bought that first property, but I actually went from one to eight in a matter of more, like two and a half years, I just kind of went so I bought, like I said, southeastern United States, bought my last property in 2020 I'm saving up for my next property because I personally now only, like new construction, I rehabs have their place, certainly For certain investors. And at the time, I got six rehabs, rehab properties from 2017 to 2019 so I personally, though, am now saving up because new construction is more expensive than than rehab. So I'm saving up for my next real estate property, which is most likely going to be a new construction. So that's a little bit about my investing background. I've been a real estate coach Since 2019 came in 2021 to GRE and have run the coaching side ever since. So that's a little bit about me on the real estate side, on the coaching side. Now, my background is not in real. Real Estate. I like, I said, I got in 2017 before that, and I still do work in tech. So I worked in tech from 2000 really, from 2005 and still do work in tech. So it was through my tech work that I got involved in real estate, because I would do back end tech work for real estate companies. And doing that work, I was like, Oh, I started learning about real estate, and then I said, huh, if this doesn't seem hard or difficult. And I also got an investment coach who helped me, like I said, with that competitor, they also had investment coaches or investment counselors. So I had a coach who helped me a little bit, but that's what the coaches are for there to help investors like me, especially newbie investors, or even veteran investors. They're there to help investors with the networking part, with the who are offering the best deals, special deals, special interest rates, who's honest, who's dishonest? That's what I'm here to do. So that's a little bit about GRE About me, about my background, how our coaching program works. So now, Brenda, it's all about you. I want to hear I'm sure you have tons of questions based on what I just said, but before you ask those questions, I'm just going to start out with, how much cash do you have ready to invest? Because really, I could be of most service if you're looking to invest, otherwise, I can't really be of much service. So how much cash do you have ready to go to invest? And then I'll answer, I'll say something about that, and then I'll let you ask whatever questions you want.    Brenda 36:35   Sounds good. Just a cash ready for deployment is 100,000 but I'm assuming that doesn't all have to go to one property, right? Or depending on the property?   Naresh Vissa  36:46   Yeah, so, so is that lick? So what I should have clarified my question as how much liquid cash do you have on not like a 401, K, or properties that you have to cash out refinance, or it's just if you today, if you were to take a property and and you had cash ready to do so be $100,000 Yeah, correct. Okay, so, so a few things that's very good, because with 100,000 that gives you optionality. You can either go for a rehab property, and we have rehab property right now. Our hottest provider is in Memphis, Tennessee, and you can get a rehab property. Worst case scenario, let's just say the property, the average property, is about $100,000 and so you just put down a 25% down payment. So let's just give or take, let's say $30,000 I tell our investors. I say, Look, if you want to buy your first property, or Yeah, your first rehab property, you need at least $50,000 cash, liquid in the bank, ready to go. That's just because you want that cushion. You don't want to put all your eggs in one basket. So I say, if you want a rehab property, you need 50,000 if you want a new construction, single family 100,000 because the new constructions are going to cost you at least $240,000 at least. So if you take 25% of that, plus closing costs and cushion and everything, just if you want to be a good investor, you have to be disciplined. And you have to be disciplined enough to be able to save the 50,000 or the $100,000 if you want to make it as a real estate investor. So 50,000 for a rehab property, 100,000 for a new construction. If you want a duplex, you need, I say, a new construction duplex, which is probably our hottest new construction asset class right now in Florida, 150,000 for a new construction. Down payment or not. Down Payment task, ready to go for a new construction duplex, because those are selling for about 490,000 give or pay. So it's 50,000 for rehab that you should have in the bank. 100,001 in the bank for a new construction, single family. 150,000 for a duplex. Anything beyond that, then we can talk. You know, later you wanted a squad or something else, but that's generally what I say. And I tell, I tell investors. I say, Look, if you only have $30,000 in the thing, let's connect after you get up, because I don't want you putting all that 30,000 into a rehabbed property, whereas, who knows, maybe the economy might go into a recession and it stays vacant for six months. I don't want you to have to go through that. So let's stick to those numbers. So you said you have 100,000 so you have options. You can you can get either a rehab property or you can get a new construction. So it's completely up to you. It's about your new construction. Single family, it's completely up to you. I personally, I, like I said, I started out with the rehabs, and then I've kind of graduated up to new construction. God, they the lowest risk you can take with 100,000 is by starting with a. Be just a low price rehab where you put in $30,000 and full, you know, down payment burden, costs, everything else you put that, you know, 30 grand, if it first property, you put that 25 to 30 grand in, and you treat that as a learning experience. And you go through the experience, and if everything goes smoothly, then you can buy the second property, and you can decide whether, hey, do I want to continue with this rehab, or I'd still have enough capital for the new construction single payer. But I would start small. If you're new, if you're an advanced veteran investor who has six figure, well into the six figures in the bank, ready to go. I tell those people. I say, hey, let's just go for new construction. Let's go for the new construction. Single family. Let's go for the duplexes. Some of them have 700 $800,000 in some cases, a million dollars plus. I say, hey, let's let's just go for the quad to the construction four Plex. The incentives are great, etc, etc. So in your case, 100,000 you certainly have choices. And what I'll do after this call is, well, first I want to hear, based on what I said, What are your thoughts on anything, whether it's renew, construction versus rehab, and then what I brought up earlier about coaching?    Brenda  41:12   Yeah, I actually thank you, Naresh, I really like what you said about starting small. I have purchased two single family homes in the past, their rentals, but I never went through a coach. I just kind of did it on my own, and luckily, things worked out. But certainly having a coach and starting out small, just to kind of go through the process, it's really helpful. Here's the situation that I think is just a little bit different, and I know that this would probably be something that I talked to like a lender about. But in your experience, I actually just came from an 18 year career. Actually, I was in tech myself, but I'm now transitioned from a corporate w2 into more, but 1099, what's classified as like a independent company, you know, type of income, what has been your experience with other clients that transitioned from that type? Is it easier? Is it harder to obtain loans? Is there going to be different requirements? 25% does that still stand?    Naresh Vissa  42:13   Yeah. So I could give you a full, you know, lecture on this, or something called the housing expense ratio and something called the total obligation ratio. I'm not going to get into those details, because the lenders, I can refer you to lenders, and they can explain all that, and those ratios mean a lot to getting you pre qualified. But what I will say is, unfortunately, if you are 1099, you are at a disadvantage, because it's not steady, consistent income, unless you can show two years of steady, consistent income. I mean, really is the last for your last two years of tax return. So if it's a new 1099, gig, yep, you're gonna have to wait until you have two years of consistent high income. If you've been doing it for a while, then send your last two years. And if it's, you know, if it's looking good, then, then you'll get approved. The other option, and this is, this is not a personal question or anything, but it married couples can go together on one loan. So if this actually helped me out a lot, because my wife is a high income earner, and I have my own business, and my business does pretty well, but if you're 1099 as as you know, there are all sorts of things you can do with your tax return that are completely legal and to where you pay yourself as little as possible, so that you can cut your income tax. So in any case, that's like 1099 workers are a disadvantage for mortgage because all they care about is your pay stub, your you know, how much income did you have? So there were times when I put my wife on the mortgage and she's got a high income, and so you can put a spouse on there, and you can both do it together. Now you're allowed 10 loans per person, so if you want a spouse go on a mortgage that counts, even if it's for one mortgage, one property, that counts as one for each of you. So for two working husband and wife. For a couple where both spouses are working with good income, I say look, you'll want one spouse to do 10 properties and another spouse to do a completely different 10 mortgages. That way you can do 20 combined. Now, if you do it together, then you'll only be able to buy 10 combined because you're older than so 1099, workers. We get that question a lot, and it actually it is a problem, because the standards changed after 2008 so either wait the two years and have your consistent records to show high income, or if you already have it right now, then you can get approved.   Brenda  44:54   Got it. Got it. This would be for just conventional loans. What about other loan products? Like, I think I've heard of the DSCR loan where maybe just the rental property would cover, you know, part of the I'm not sure, like, I guess you're guaranteeing that the property will make enough money to cover the payment of the loan.   Naresh Vissa  45:12   Yeah, DSCR and loans are hard to get approved. Really, what I should do is introduce you to some of our lending partners. If you're interested. DSCR is meant more so for people who have utilized you want to use those 10 loans first, so because if you go you're going to have a higher interest rate if you go with the deal. So those DSCR loans, or Portfolio loans, are meant for people who have used their 10. Their spouse has used their 10. They've got capital low rolling in their ultra high net worth. So they're fine, okay, just get me another loan. I need the tax benefit. I need the tax break. I'm fine paying a 10% interest. So they'll go for a portfolio loan or a vsdr loan. In your case, first property, your first investment property, first turnkey we want to go for a loan.   Brenda  45:58   Got it makes sense. And then another question, so this was about the financing. But another question that I meant to ask earlier is, I know you mentioned, like, you know, I am not like a realtor or anything like that, but how does it work? Like, I'm think about when I'm purchasing a home, personally, I kind of say, hey, I want to three bedrooms, four bedrooms, this many baths. Like, how does that work with you? Like, do I give you criteria of what I'm looking for, or, you know, based on my goals? Do you kind of craft a plan? How does that work?   Naresh Vissa  46:29    Yeah, so I actually sent you an email just right before this call it. I think you got the email, and it includes a link to about 20% of our inventory. It's not all of our inventory. That inventory is just there. To get you started to see the types of properties that we have available. We have some constructions and the markets that we cover, again, it's only about 20% of the inventory. If you go to our GRE marketplace, you can see all of the markets that we cover. Your biggest source will be, I send out emails. So your biggest source will be, if I email you, I'll email you like a property. It'll be, Hey, I just came across this deal. It's like, it's my VIP email list. So you'll get my, you know, VIP emails, and that's going to be your, your best source. You also get Keith white holds newsletter, which promotes properties from time to time and and we only promote the best. We there are hundreds of properties we can promote. We only distill it down to the best of the best. So don't think, oh, like, there might be another property that narration knows about. Now we promote through our social media, through my email list, through Keith's newsletter, through the podcast, through the webinars, the best of the best. So that's the best way to to find out,   Brenda  47:49   got it your inventory or what you currently right,   Naresh Vissa  47:52    and with your permission, I can add you to my VIP email list. If it's okay, yeah, that would be cool. I'll go ahead and add you, and you'll start getting those emails in real time. I only send out an email maybe once every three weeks, so I really only want to send the best of the best. I want to waste people's time.   Brenda  48:07   Great. So what if you do send me an email and I'm like, Yeah, I love it. I think this is fits exactly what I'm looking for. Do I email you back? Do I contact you? Like, how do we stay in contact?    Naresh Vissa  48:18   So email is the best form of communication, because in real estate and business in general, we want documentation of everything. We don't want any miscommunications. So if you see something you like, email me. I'm available. You have my phone number. You can text me, you can call me, you can email me. I'm very accessible, but email is preferred, because that way it's in writing, and I'll know exactly what you want, the address, everything. So let's say you see a property that you like from an email that you get from Keith or from me, and you email me to say, hey, I'm interested. What are next steps? I will get you in touch with the actual like I said, we're just an education company. I'll get you in touch with the actual builder or the broker or the agent on the property, and they'll be able to answer way more questions than I can answer way more and that that's for anything. If your question is about financing, I can get you in touch with several good, low rate lenders, and they can answer all your questions about financing. Your question is CPA Tax stuff. I can get we have, uh, several good contacts who can help you out there as well.    Brenda  49:20   Got it, got it. So then what, what does our communication look like from there? Like, do if I say yes, I want it, then you get me in contact with them, and then I kind of work with whoever it is that has this property. And then hopefully we just close on the property. And that's it, right? Am I understanding that correctly?   Naresh Vissa  49:40   Sure? So, so all correctly? Yeah, I'll refer you over to them, and they will, they will take care of you. Should copy me on all emails that way. Okay, what's going on? Copy, you remember, I'm your coach. I'm here to help you, like it's free, so copy to an email so I know what's going on. If there's a problem, I can jump in. In many cases, I hold a leverage over a lot of these. People, if a problem happens, I can step in and say, Hey, treat her better. Or, you know, you should waive this cost, or whatnot. So copy, because the people who get into trouble are the people who didn't copy me on the emails. And many, many time, time just goes by, and then they come with their problem as they Hey, if you came to me a year ago, I could have actually helped you with this. Now, the statutes expired, and it's, it's a complete mess. So always, even after you're done posing on the property and you have a tenant in there and just copy me on me.    Brenda  50:30   Got it. Okay,  So kind of bring you along the journey. Okay, so let's say I'm at the end, like, do these providers help me? I'm assuming in some of these cases, you've mentioned places that are far from where I live. So do they help provide additional resources, like, who's going to manage my property, or who's going to find me a tenant? Like, could they help me with that?   Naresh Vissa  50:51   Absolutely. So the entire point of GRE of this investment coaching program, the entire point is so that you can become what's called a laptop landlord. You can literally live free and have just take a step back and have your properties run on their own. So the idea is not for you to invest down the street and become a property manager and a landlord down the street. It's you can be anywhere in the world. Buy properties anywhere. Like I said, I live in Florida, but by Prop, I've never visited any of my properties. I've never met a tenant. So that's what you want to do, and that's what we help people do. If you want to buy a property across the street and become you can do that yourself. Go through all the loops yourself. We are here to help you invest in Ohio, in Tennessee, in Florida and Texas and all these places that you may not have even visited every other life, but you can still have a very fruitful investment journey. So we set all that up for you, the property management, every all that it's going to be taken care of, so that your hands off. That's why it's called turnkey real estateReal real estate investing.   Brenda  51:56   Got it. Okay, sounds good. And typically, how long does this process take? I mean, I'm sure it's different for everybody, but what can I expect, like from beginning, from when I talk to you, to when hopefully I have a property that I'm signing off on?   Naresh Vissa  52:12    In some cases, it's literally taken two days. In other cases, it's taken there's not even an answer, because people did end up buying Okay, yeah, so, so, yeah, in in the case of, like, our Memphis burr properties, which are rehab properties in Memphis, I recommend that you watch our burr webinar. I can send that to you after this call, if you'd like. But I had people who watched the webinar talk to me. I introduced them that same day to the provider in Memphis. They talk to their provider in Memphis, and then the next day, they pick the property, and the day after that, they sign a contract. Oh, okay, so it's all about the investor. If you're a serious investor, it can be very quick, like me, I was very serious. That's why I scaled. I bought eight and two and a half years, eight properties in two and a half years. Other people, if you want to take your time, it could, you could literally take your time and never buy any and a lot of people are doing that, because in 2019 they said, Oh, you know what, I'm gonna wait. There's gonna be a crash and this and that. And so they waited, they waited, and prices skyrocketed, and now they said, You know what, I'm I'm priced out of the market, so I'm just not gonna invest in real estate anymore.   Brenda  53:16   Yeah, it's that analysis paralysis. I've experienced that. Yeah, yeah, got it. Okay, cool.   Naresh Vissa  53:23   All right. So any other questions?    Brenda  53:25   No, this is really helpful. It's kind of good to know, like, kind of where you step in and kind of where you hand off, and again, the timeline is different for everybody, but it's kind of good to know that I could literally be standing here two days later and have a property if I want. So good.   Naresh Vissa  53:42   Yeah. So as we end this call, next step, so I told you about new construction versus rehab. Are you? Are you interested in both, or leaning towards one or the other? Right now? Just    Brenda  53:54   probably the rehabs, because I think, like what you said, I like the idea of the E step into like, let me see how this process goes first before kind of committing a bigger chunk of capital to something larger. Yeah, I agree.   Naresh Vissa  54:06   Okay, so here's what I'm going to do as next steps. I'm going to send you a link to the webinar we did for our hottest rehab asset class right now, hottest rehab provider out of Memphis. It's the Memphis Burkey webinar. I went ahead and just emailed that to you. So watch that webinar. It will answer like every question imaginable regarding the provider, how they do their process, the properties, everything. So watch that webinar and then shoot me an email after you're done with the webinar on what you're thinking just you can watch webinar today and you want to shoot me an email right after, just let me know what you're thinking, and we can go from there. I think that's would be the next step. Just watch that webinar, and then we'll, we'll reconnect.   Brenda  54:54   Sounds good? Okay, I like that.   Naresh Vissa  54:57   Okay, very good. Well, I sent that link to you, and. And that's about it. If you have no more questions like I said, you can add my phone number to your phone book and feel free to reach out whatever you want.    Brenda  55:07   will do. Thank you so much.    Naresh Vissa  55:09   All right, thank you. It was great.   Keith Weinhold  55:11   Yeah,  I hope that you found that helpful in making America rich again. Namely, you. Of course, no two coaching calls are the same. Some GRE followers will perhaps have more questions than Brenda did. There. We are here to learn your situation. We know the mistakes you've got to avoid, and we can connect you with the best income property for you across the nation. We really filter it down to the best of the best, and besides being a truly free coaching call, we don't try to upsell you to a paid course or anything like that, because we don't even have any product to sell really. So even if you wanted to buy something from GRE, I don't know if you could, maybe unless you buy a GRE logo t shirt from our website or something like that. So keep all of your funds for the property down payment. As far as now, you can book a coaching call at GREmarketplace.com and select the free investment coaching area. Until next week, I'm your host. Keith Weinhold, don't quit your Daydream.    Speaker 3  56:21   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  56:41   The preceding program was brought to you by your home for wealth, building, get rich, education.com  

Escaping the corporate grind by the age of 24, Naresh is living out in the beaches of Florida, sipping his own glass of rum n' coke (and eating Skittles). He works just a few hours a week and is raking in the dough. He started climbing the corporate ladder, earning several educational degrees and working for high class companies, but eventually felt a lack of purpose... and not to mention a heavy dose of laziness. So he got out of the Corporate Desk Trap and started his own marketing consulting business, then used the profits to invest in passive income -- the best kind of income, where your money does all the work for you! Meanwhile, he wrote several books including Fifty Shades of Marketing, Podcastnomics, and the controversial Trumpbook. And with the little amount of quote on quote "work" he does, he doesn't feel like it's work at all, because he actually enjoys doing it. Remember, ProcrastiN8rs, we do what we want and earn money from it. We cover a bit of an appetizer sampler in this episode with everything from stock market and real estate investing, publishing your own e-book, starting your own business, and generally being your own lazy boss. Stay tuned for this PRO-crastiN8r's tale and a special listener exclusive offer inside. Note: Listener discretion is advised. Trigger warning. Sensitive topics are thrown in. KEY POINTS: • Laziness is the best skill to have when it comes to investing. Just buy and wait. Don't actively check or trade. • Buy boring stocks like McDonald's, Johnson & Johnson, and Coca-Cola • Don't worry about finding "the next Apple", just buy Apple • Set up an LLC business to save money on taxes and purchase real estate through said business • A business failure today may be a success years from now, especially published content like e-books. Trumpbook failed to make many sales at launch but became a best-seller years after its initial release. Disclaimer: We are not your lawyers, accountants, or financial advisors. Please take any information said within this episode with a grain of salt. We are not offering professional advice here. We're just two lazy dudes talking and giving our opinion. Visit Naresh Vissa's Website: http://www.nareshvissa.com/ Check out his e-books on Amazon

Join our upcoming GRE live event right here! - ‘New Turnkey Properties with ZERO Money Down' on Thursday 10/24. Keith discusses the financial health of tenants, noting that 75% of new renters earn over $75,000 annually. He is joined by GRE Investment Coach Naresh Vissa to highlight the incentives offered by new build property providers, including interest rates in the 4's and up to $30,000 in immediate equity. New build homes now cost only 1% more than resale homes. Rent-to-income ratios remain stable at 31%, despite wage growth outpacing rent growth. Current market conditions offer a unique opportunity to build wealth through real estate. Attend the live online event on Thursday, October 24 at 8pm Eastern to learn more about the new build property incentives. Show Notes: GetRichEducation.com/524 For access to properties or free help with a GRE Investment Coach, start here: GREmarketplace.com Get mortgage loans for investment property: RidgeLendingGroup.com or call 855-74-RIDGE  or e-mail: info@RidgeLendingGroup.com Invest with Freedom Family Investments.  You get paid first: Text FAMILY to 66866 For advertising inquiries, visit: GetRichEducation.com/ad Will you please leave a review for the show? I'd be grateful. Search “how to leave an Apple Podcasts review”  GRE Free Investment Coaching: GREmarketplace.com/Coach Best Financial Education: GetRichEducation.com Get our wealth-building newsletter free— text ‘GRE' to 66866 Our YouTube Channel: www.youtube.com/c/GetRichEducation Follow us on Instagram: @getricheducation Complete episode transcript:   Automatically Transcribed With Otter.ai    Keith Weinhold  0:01   Welcome to GRE. I'm your host. Keith Weinhold, we check in on the health of your tenant. How are they doing financially? Learn why new build homes now cost about the same as existing homes. Then learn about creative financing and how to put zero money down on an income property today on Get Rich Education.   Speaker 1  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. Guess who keep 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  1:11   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  1:27   Welcome to GRE from Lewiston, Maine to Lewiston, Idaho and across 488 nations worldwide. I'm Keith Weinhold, and you are listening to get rich education. Don't live below your means. Grow Your means, you need a proven wealth building vehicle that pays you multiple ways, like real estate or a business, because in order to build legacy wealth, otherwise, how many Papa John's coupons are you going to have to collect that's living below your means, something that's not sustainable long term, not where you want to be. And you know something your first million that takes a while for you to reach a net worth of a million dollars, that can take over 30 years, like the first 30 plus years of your life. Let's say then you are age 32 until you reach the million dollar mark. Well, your next million Okay, so a $2 million net worth, that's not going to take you another 32 years, but maybe, if your sole source of income is trading your time for dollars at a job, you won't hit the $2 million net worth Mark until age 40 to 45 but instead, if you've got leveraged rental property, ah, now you've got other people's money working for you, and a 5x multiplier on your skin in the game, and that's something that a 401K is never going to give you. And instead of hitting 2 million at age 40 or 45 like the day job worker, well, you can hit a four or $5 million net worth mark at that age, setting you up for an early retirement, or at least that option to do so your life is going to feel different when working is An option, not an obligation, and all that sure can happen even sooner. If you think you are behind, from what I was just talking about, there, you find yourself behind those net worth figures. Well, the vehicle of real estate pays five ways. Is what's going to allow you to catch up, and you might be simultaneously measuring your wealth in cash flow as much or more than in net worth terms. Anyway, chances are you do, though, have more wealth today than you have ever had in your entire life, and that's because here in late 2024 we're at a time when just about every asset imaginable is at or near all time highs, real estate, stocks, gold, Bitcoin, and perhaps the number one traded commodity in the world, oil, is one of the few substantial outliers where that is not true. Well, now that we've checked in on how your wealth building is progressing. How about the financial health of your tenant? That's important because you want them to have the ability to pay your mortgages and your operating expenses for you. Well, there seems to be a weird narrative that tenants, you know, like they're always these jilted wannabe homeowners, or like they're auditioning for a season of Survivor, barely living above the poverty line, destitute and eating macaroni and cheese three times a day. Now, there are some of those cases, for sure, but 75% of new rent. Have incomes above $75,000 well, then maybe they eat at the Cheesecake Factory monthly. Even the wealthiest Americans are turning into forever renters. We have seen the rise of the millionaire renter. More than 11% of renters have an annual income over $750,000 that is pretty Wall Street Journal. Gosh, I guess that caviar and truffles are in the home. And what are they doing for cheese? Forget Kraft Singles. My guess for them is that only artisanal cheeses are eaten off of little wooden boards. The census itself recently published research declaring this headline, incomes are keeping up with rent increases. Now you might find it really surprising that tenant rent to income ratios haven't materially changed over the last dozen years. Last year, US renters shelled out a 31% share of their income on rent, and that is actually much like they have for a long time. In fact, between 30 and 32% every year since 2011 that's what the figure's been and to be clear, what we're talking about here again is the rent to income ratio. It's simple. It's just the proportion of your tenants income that goes toward rent. 31% or you might think, Well, wait, how can this be? Because there sure are a lot of headlines around rent burdened households. And for a while there previously, we had wage growth lagging rent growth, although wage growth is ahead of CPI now, and it has been for quite a few months. All right. Well, here's what's happening. Really, it's three things, renter incomes are growing faster than homeowner incomes. Secondly, the struggle is real for low income renters. And thirdly, new construction units. In recent years, they tend to be created for middle and upper income households. All right, so let's break this down. The first phenomenon occurring, renter incomes are growing faster than homeowner incomes. Yes, younger Americans, they're more often renters, and they have more income growth than older generations do. Secondly, like I was saying, the struggle really is a thing for low income renters, they tend to rent apartments more often than single family homes, and census stats show the rent burden household growth in those is occurring with those that make under 75k a year. That's where their distress is, and of course, it's especially bad among those making under 50k a year, and many of them don't receive rental assistance, and inflation has affected that group worse. And then the third reason for these stable rent to income ratios are that new construction units in recent years, they tended to be created for middle and upper income households, so we haven't built nearly enough affordable housing driving demand and rent prices, and again, that crushes those lower income households. And hey, I do want to credit terrific rental housing economist Jay Parsons for bringing some of this to light. The bottom line here and what you've learned about the financial health of renters today, actually, you didn't learn anything. All I did was talk about cheese, really, though, the lesson is that Rental Affordability has become more bifurcated. It's worsened for the lowest income households, but overall, rent to income ratios are still steady near 31% I mean, really, who knew that stability could be so predictable? Now there's another sort of misconception, or I guess anomaly really, in today's real estate market, and that is the fact that new build homes don't cost much more than older resale homes. In fact, today, the median new bill home sells for 421k That's not much more than that of an existing home at 417k that's only about a 1% difference. It's really an unusually small disparity, just a 1% premium for a new home today over a resale home. All right. Well, what is going on here? One reason for this is the very well documented interest rate lock in effect existing homeowners aren't giving up their property. Another is that the new build properties are smaller than they were in years past. Helping keep their prices in check. And a third reason for why new build homes cost almost the same as existing homes today, weirdly, is that home builders they are giving buyers incentives to purchase new build homes today because buyers often need down payment and closing cost help in order to get in. And we're going to talk about one especially good new build incentive program for these brand new properties later in the show today, and what you can do with creative financing there. The real lesson here is, if you can, you want to give more consideration to owning more new build income property today than you might have in years past, because they're down to about the same price as resale properties, only costing 1% more, on average, and this is all based on data from the census, HUD and the NAR. So again, just about 421k for new builds and 417k for resale single family homes today, they are the median prices   you can follow get rich education at all the usual places on social, Facebook, Instagram, Tiktok X and YouTube. To highlight one of those, you will find particular value in the get rich education YouTube channel that is me over there, video of me speaking directly to you and showing you things there visually on YouTube that I cannot do here on an audio podcast. Also, if you have a particular thought, comment, question or concern, understand, we can't personally respond to them all, but you can go ahead and write in or leave voice communication at getricheducation.com/contact we do read and listen to them all that's getricheducation.com/contact in order to reach us. And thank you so much for all of the sincere congratulations and wishes that you left over there for us on the GRE podcast, hitting 10 years of contribution to real estate investors, serving you every single week without fail and never playing any repeat episodes, always serving you with a fresh episode. Much more. Next, I'm Keith Weinhold. You're listening to get rich education.   Hey, you can get your mortgage loans at the same place where I get mine, at Ridge lending group NMLS, 42056, they provided our listeners with more loans than any provider in the entire nation because they specialize in income properties. They help you build a long term plan for growing your real estate empire with leverage. You can start your pre qualification and chat with President changley Ridge personally. Start now while it's on your mind at ridgelendinggroup.com That's ridgelendinggroup.com.   Your bank is getting rich off of you. The national average bank account pays less than 1% on your savings. If your money isn't making 4% you're losing your hard earned cash to inflation. Let the liquidity fund help you put your money to work with minimum risk, your cash generates up to an 8% return with compound interest year in and year out, instead of earning less than 1% sitting in your bank account, the minimum investment is just 25k you keep getting paid until you decide you want your money back. Their decade plus track record proves they've always paid their investors 100% in full and on time. And I would know, because I'm an investor too, earn 8% hundreds of others are text FAMILY to 66866, learn more about freedom. Family Investments Liquidity fund on your journey to financial freedom through passive income. Text FAMILY to 66866.   Robert Helms  13:57   Hey everybody, it's Robert Helms of the real estate guys radio program. So glad you found Keith Weinhold in get rich education. Don't quit your Daydream.   Keith Weinhold  14:19   Well, I'd like to welcome in a GRE investment coach. He's got both the formal credentials, and he's doing the real thing too, holding a master's degree from Duke's business school, and then, before coming to GRE in 2021 he worked at both banks and financial publishing companies, but importantly, for years now, he's been an active real estate investor, just like you and I. Hey, welcome back onto the show. Naresh Vissa.   Naresh Vissa  14:45   Thanks so much for having me back on looking forward to talking real estate. There's a lot going on for sure.   Keith Weinhold  14:51   You know, I always give you an illustrious bio to live up to before you speak, but then you do always live up to it. Well, Naresh. Before we narrow down, let's pull back and take a wide angle view. Give us your take on the direction or trends. What's important in today's market for real estate investors?   Naresh Vissa  15:11   Keith, the market has changed a lot, and it's very much investor friendly right now. The reason is because, and we've talked about this, I think, in my last two or three episodes where we previous saw rising interest rates and stagnant interest rates that were relatively high for let's say a millennial. That's been a hot topic called millennials aren't able to afford home buying what we're seeing now because the Federal Reserve cut interest rates tremendously, significantly and almost unexpected. The First Cut they did was 50 basis points, which I think was a mistake, just like I think it was a mistake for them not to raise rates one more time last year, in 2023 one or two more times to help bring inflation down further, I think they're making a mistake by jumping the gun, and instead of a 25 BPS cut as the first cut, doing a 50 BPS cut. The reason why I bring this up is because mortgage rates are plummeting. They have plummeted, and they continue to plummet. So as a home buyer, where the economy still isn't we're not at peak employment. In fact, the unemployment rate is still in the fours, so the economy isn't the greatest which means home values aren't at peak levels. Per se, some people are making the case that we could see home values could be coming down while interest rates come down. So right now, what that means is, when you have falling interest rates and either stagnant home values or maybe even some declining real estate values in some areas of the country, that markets that we focus on other markets we don't focus on, when you combine all that, this is that inflection point where it's actually a really, really good time to jump in. There is a little bit of political uncertainty in that we don't know who's going to win the election. We don't know who's going to win Congress. What's even more important than who becomes president is Congress. Which party wins the house, which party wins the Senate? Because you've written about it in your newsletter, Keith, the Democrats and the Republicans have very different housing policies, and we could do an entire episode on each party and what their housing policy is. I will keep it simple. Here's the cliff note version. If we have the same party in all the chambers of the government the same political party, then we'll see a tremendous impact in the real estate market. I think if the Democrats sweep then you're going to see real estate home values go back up, inflation go back up. Because Kamala Harris is, she is a main proponent of giving basically a $25,000 off coupon to first time homebuyers. So that's across the board all 50 states. Basically you got $25,000 off. What I've learned with coupons, I'm sure you know this, Keith, most coupons actually are a terrible deal. You get something in the mail that's a coupon. You either spend it or you call the service provider and they jack up the price. So you think you're getting a good deal, but they end up jacking up the price even more than what market value is, and that's what's going to happen to housing where you're going to have so many young like I said, millennials, Gen Zers, who are looking to buy their first home, they think they're getting such a great deal because of this $25,000 off coupon, when, in reality, after about three months of this program, you're going to see we're going to be back to 2021, end of 2021, beginning of 2022, all over again, where homes will enter into bidding wars. Now, if there's a split, President is one party and Congress has split, then there's actually going to be almost no change, which could be a good thing. We're not going to see much change at all. It's just going to be the mostly the status quo. Really the only change is going to be on tariffs, If Trump were to win, or foreign policy, those are going to be the two main issues, regardless of which party wins, if there's a split. So the bottom line is that right now, despite this uncertainty, I've heard from a lot of GRE clients, oh, I don't want to do anything because of this election. I've asked for the logic and like, the election, should it really change? Because right now is still an excellent time, like I said, with stagnant home values with plummeting interest rates, really through the end of the year, and as the Fed keeps cutting rates, which I think they're going to engage in a prolonged rate cut cycle for quite a while, and rates are only going to keep going down. So that's my general view of the current state of mortgage rates, the Federal risk. Reserve the election housing markets?   Keith Weinhold  20:03   Yes, Naresh is talking about a newsletter that I sent to you last month where I basically show that, historically, presidential elections really don't affect the real estate market price appreciation much at all. They might affect stocks in the short term, though, which are more volatile and Naresh, do you want to tell me a bit more about why you seem to be rather bullish this year for real estate investors, of course, things change. Last year you were more bearish. You had more negative sentiment about the investor environment. So are there any other reasons why you see more positivity today, other than lower interest rates?   Naresh Vissa  20:37   Yeah. Well, last year, like I said, where I touched on, we saw peak interest rates. So the Fed stopped raising around the end of last summer. I want to say maybe July of 2023 it was, yes, the interest rates stayed high. There was almost no movement until relatively recently, let's say over the last three months, when it was factored into the market that the Fed was going to begin its rate cutting cycle. So the reason why I don't want to say I was bearish on real estate last year, because we have some providers, for example, partners of ours, who offered really, really good and they still are offering really, really good incentives, which help offset the high interest rates this time around, like I said, with the unemployment situation, we're in the force in more layoffs. Archive, the media isn't talking enough about layoffs, large companies, large tech companies, manufacturing jobs. Layoffs have been rampant for the past two years. This is not a recent phenomena, and it's finally showing up in the unemployment data. And if you look at real unemployment data at a website like shadow stats, it's really more than 4% and the number of people are working multiple jobs. That's not really factored into the unemployed. You know, one person working three jobs, for example, you gotta have a way to factor that in, which government hasn't figured out lately. So the point that I'm making here is that if you have a job right now, if you're making cash flow, if you have a job, then you're going to find this as an opportunity with the lower interest rates, with knowing that home values have somewhat declined recently, this is a good opportunity to jump in and get good cash flowing real estate. Now, I did touch on the previous question about Kamala Harris's real estate plan, $25,000 coupon, which will certainly lead to real estate. You can call it real estate appreciation. You can call it inflation. But one thing that I should talk about the other side, which is if Trump and the Republicans were to sweep, then we're going to see mass deportations of undocumented immigrants, illegal immigrants, and that's going to affect the housing market tremendously. And how is it going to do that? Because it's estimated that at least 8 million people are going to be deported over the four year period. Those 8 million people right now are all renters. Close to 100% of them are renters. I think that would actually be somewhat deflationary, at least in the rental market, maybe not in the housing market per se, because a lot of these people aren't necessarily home buyers, but in the rental market, we could likely see a stagnation of rental growth mixed in that's making the assumption that building picks up, and Trump has already said. Both Trump and Harris have said that they're going to incentivize home builders to build more multifamily, build more apartments, build more. In Trump's case, he did these opportunity zones, which he wants to do more of, build more single family housing. It's definitely a supply side issue more so than a demand issue, but both supply and demand always contribute to the equation as a whole. So what does all this mean? Again? Forget about the election. Forget about November 5, which is election day. Right now is a really good time, because interest rates are plummeting. Home values have remained stagnant. In some cases, home values have come down. And the best part, we work with providers who are still offering really amazing incentives. And on october 24 at 8pm we are hosting a webinar to share what I think is our best incentive program yet. That's Thursday, October 24 where you can get class, a new build of properties with interest rates in the 4's that's with that you're not even buying down the interest rate, the interest with special deals, special incentives, special financing, interest rates in the fours, up to $30,000 in immediate equity because of these incentives. And the best part, we even have an option that's zero money down, zero money down there are incentives that are giving back cash at closing. So it's, you buy a property, you as a buyer, get cash back at closing. There are just too many incentives to name here. I've named, I think, five different ones. And this is not a case of you pick one out of the five. In some cases, you might qualify for all five. So october 24 it's before the election. It's live. I'm going to be on live with a special guest who is a very well known, seasoned real estate investor and licensed real estate broker, one of the most well known real estate personalities in the country. So I highly recommend our file go to GREwebinars.com GREwebinars.com to register for that free special event.   Keith Weinhold  25:46   Now you, as a real estate investor, are probably encouraged by this environment of lower and lower interest rates as well you should be, but sometimes it can help to ask yourself the question, okay, how do lower interest rates affect who I'm purchasing a property from. In this case, with the event narration I are talking about, it's new build properties and home builders. They see more competition now coming from the resale market due to the fact that interest rates have fallen so interest rates are thawing out the locked up resale market thawing out this lock in effect, and that's because existing home sellers, well, they're a little bit more willing to sell because the replacement home no longer has an interest rate that's as high over there in the resale market, and lower rates also, of course, mean that more buyers qualify to buy resale homes. So see new home builders, they now have more competition from the resale market, so consequently they're more willing to give you a strong incentive to buy from them. So take advantage of what Naresh and I are talking about coming up in just three days here on Thursday.   Naresh Vissa  26:53   Yes, and I want to reiterate, GREwebinars.com GREwebinars.com this is a online special event. We've done several of these in the past. I've done, I think this is maybe my fifth online special event. Again, I've never seen incentives like what our provider is going to be sharing on this webinar. And you can only get these incentives by attending the webinar, or registering for the webinar, watching the replay after we're talking the rates in the 4's, they will buy down the rate for you. So it's a great deal to have somebody else buy down your rate. You'll get money back at closing if you opt for that. So that's basically a rebate that you'll be getting as the home buyer. Just really, really good overall incentives being offered. And like I said, we set this up because this is a perfect time. We are in a situation, the first time since 2020 since the pandemic, where we're seeing plummeting interest rates, stagnation of home values, kind of uncertainty, because we're in this time of purgatory, just like we were in 2020 before the election. Just think about how many investors, most real estate investors, say right now, they say, Oh, I wish I bought everything in 2020, right? Well, we're in a similar situation now, where, again, home values, interest rates, and this state of purgatory of what's going to happen. We're in a very similar situation. And just think about that emotion, because I hear it almost every day, or when I tell people, Hey, I own real estate myself, and I bought most of my properties before 2021 the last property I bought was in 2020 and they say, Oh, wow. Like, you're a genius. You're so smart. Like, how did you know to buy man and again, similar environment, even 2009 2010 2011 even 2012 similar environment where interest rates were very low. 2009 was when they were plummeting. And you think back of I was too young back then, but I know, Keith, you were an investor back then, but you bought in 2009 you did even better than buying in 2020   Keith Weinhold  29:00   That's right. And in fact, in all the years that I've been buying real estate, I have never bought a property with incentives as good as what you and your co host are going to be talking about at GRE's live event coming up on Thursday night, just starting with a full 10% of the purchase price in credit back to the buyer, and there's more to it. You'll learn all about it again on GRE 's live event for new build, turnkey income properties with zero money down potentially. It is co hosted by Naresh in the guest that I had here last week, Zach. Again, it is on Thursday, October 24 at 8pm Eastern. You can register now at GREwebinars.com and you will be hearing more from Naresh then. Naresh has been great having you back on the show.    Naresh Vissa  29:49   Thank you, Keith and I'll see everyone on october 24 GRE webinars.com to register. Thanks.   Keith Weinhold  30:01   yes, you'll hear more from Naresh and co host Zach on Thursday's live event each year, homebuyers often take a step back in the fall, this time of year. Understand though, that year over year, they are up about 4% per the NAR as of this time. And when it comes to the political effect on housing. You already know what I think. I don't put much emphasis there. Today, I am better off than I was four years ago, and it has nothing to do with who the President was or was in Congress, and in the preceding four years, I became better off during that time period too, because what happens in my house and what happens in your house is more important than what happens in the White House. As Naresh and I are talking about new build property here, and you're hearing about extremely attractive incentives. Hey, let's not let the point be lost. New build properties can be profitable for you over time due to lower maintenance costs. New builds have lower insurance premiums, and that's on top of how we discussed you could get low interest rates in in southeastern high growth path of progress markets in our upcoming live online event, and at the least, you will learn about creative deal structuring, and you know, when it comes to zero money down like that very concept, there was a time in my life where I thought, yeah, that sounds about as real as athletic brand beer, or about as real as lab grown meat, but all three actually exist. Here's what's exciting, we have partnered with major builders that are sitting on excess new build inventory right now, like Lennar and DR Horton, to help bring you institutional level pricing. Your name does not have to be BlackRock. And this is something we've never done before here at GRE these new build properties in those fast growing areas of the southeast, they're often single family rentals. And yes, you know what I like to say about single family rentals. Stainless steel appliances are great, as long as you or your tenant never touch them. But to be clear, there are two levels of incentives we've been promised. So we've got to have this event now before they vanish. You can potentially use both, first, up to a 10% credit at closing, so yes, on a 250k market value property, as much as a 25k credit and then secondly, a 5% down payment we've paired with credit unions in local markets that make Portfolio loans to investors, and that is up to five properties max. And to get that 5% down, you must qualify, just like you would for most any mortgage loan. And by the way, do you know what a portfolio loan means? That means when the bank or credit union makes the loan, it'll go sell that off to a secondary market and have it packaged into a mortgage backed security. What the bank or the credit union does is they keep that in their own portfolio. A portfolio loan does not mean that the lender makes a loan against your existing properties in your portfolio. That's what I used to think when I was a new investor, but that is a misnomer. That's not what a portfolio loan is. Well, with these incentives, if you get a 10% credit and only spend a 5% down payment plus four to 5% on closing costs, hey, there you are. You are in with zero down payment. It's a chance for you to get your fit together. Yes, what fits you is zero down right for you. I mean, you know that I am a staunch leverage proponent, but if that's not right for you, you can use your 10% cash back discount elsewhere, like buying down your mortgage rate to about 4% maybe even three point something percent. And see right here, this is exactly where the deal structuring gets fun incentives like this don't last. When the inventory is gone, it's gone show up live, and that way you can also have any of your questions answered if you have them, yes, our online event is an even bigger deal in fantasy football. Well, I trust that you learned something useful today on this week's episode of the get rich education podcast, to review, it's how tenant rent to income ratios are actually stable near 31% on why new build properties only cost about 1% more than existing properties today. And all about creative deal structuring, where you can own brand new new build income properties potentially with as little as 5% down and perhaps zero down payment. It's a really good opportunity. We sure have mentioned it before, but one last time, all the action takes place Thursday, October 24 at 8pm eastern at GREwebinars.com. Until next week, I'm your host, Keith weinhold, don't quit with your Daydream   Speaker 2  35:27   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  35:55   The preceding program was brought to you by your home for wealth building Getricheducation.com.  

Naresh Vissa discusses his move from Baltimore to Tampa and his reasons for choosing Tampa as his new home. He also talks about his career in digital media and marketing, as well as his venture into real estate investing. Naresh shares his perspective on the Florida housing market and the opportunities it presents. He also discusses his experience as a parent and the challenges and joys of raising two young children. Naresh Vissa discusses the importance of early childhood development and the impact it has on raising confident and independent adults. He shares his own parenting philosophy and the activities he exposes his children to in order to instill passion, values, and principles. Naresh emphasizes the significance of sociability, self-sufficiency, and efficiency in raising adults. He also highlights the importance of confidence and likability in navigating through life. Naresh encourages fathers to be actively involved in their children's lives from a young age and to cherish every moment.About Guest, Naresh Vissa:Naresh Vissa is Founder and CEO of Krish Media & Marketing – a full service online and digital media and marketing agency. He has worked with leading publishers, media firms and institutions such as CNN Radio, JP Morgan Chase, EverBank, The Institute for Energy Research, Houston Rockets, Houston Astros, the American Junior Golf Association, Agora Publishing, and Stansberry Research.Naresh helped launch an online radio network generating six-figures in monthly revenue.  He managed the production and marketing for the first online retail physical precious metals trading platform. He's a #1 bestselling author of PODCASTNOMICS: The Book Of Podcasting… To Make You Millions and has been featured on USA Today, Yahoo!, Bloomberg, MSNBC, Huffington Post, Business Week, MSN Money, Business Insider, India Today, and the Hindustan Times. He was also the Director of Media Strategy at the largest private and independent financial publisher in the world.In 2009, Naresh co-hosted the top-rated financial talk show in the Dallas/Fort Worth metropolis, The Wall Street Shuffle. He has booked more than 1,500 experts in the fields of finance, economics, business management & consulting, self-help, leadership, sales and marketing.Naresh aided the Houston Rockets' staff in selecting draft picks Aaron Brooks, Carl Landry and Donte Greene in the 2007 and 2008 NBA Drafts.Naresh took as many as 27 credit hours a semester while at Syracuse University, and he graduated Magna Cum Laude from the Renée Crown University Honors Program, triple majoring in broadcast and digital journalism, finance, and accounting at the S.I. Newhouse School of Public Communications and Martin J. Whitman School of Management. Morgan Stanley nominated him as an Emerging Student Leader. During his junior and senior years, he served as an analyst for the Orange Value Fund, where he managed an investment portfolio in excess of $1.2 million of private investor money. Upon graduation, he was awarded as a high-achieving student in his class.Naresh earned a Master's Degree from Duke University's Fuqua School of Business, concurrently working as an admissions recruitment coordinator, marketing and communications blogger, and strategy research assistant to Executive in Residence Professor Bill Sax. A former academic tutor, counselor to underrepresented students, and middle school assistant basketball coach at the nationally renowned Village School in Houston, Naresh frequently donates his time to community service and social advocacy. He holds a first-degree Black Belt in Taekwondo.

In this episode of the United States of Small Business podcast, host John Quick sits down with Naresh Vissa, founder of Krish Media & Marketing. Naresh is a media, marketing, and publishing entrepreneur with a wealth of experience in improving bottom lines for leading companies. As the author of the bestsellers "PODCASTNOMICS" and "FIFTY SHADES OF MARKETING," Naresh shares his journey and key strategies for successful product launches, podcast monetization, and digital marketing. Tune in to learn from Naresh's expertise and discover how to elevate your business's online presence and growth. Don't miss this episode filled with valuable insights and actionable advice! Check out his book here: https://amzn.to/4eFHtnh --- Send in a voice message: https://podcasters.spotify.com/pod/show/usofsmallbusiness/message Support this podcast: https://podcasters.spotify.com/pod/show/usofsmallbusiness/support

Join our live, virtual event for Memphis BRRRR properties on June 25th. Free. Sign up now at: GREwebinars.com The homeownership rate has fallen due to low affordability. This means that there are more renters. There are still just one-half as many housing units as America needs. But it had been one-quarter. New duplexes, triplexes, and fourplexes are vanishing. I describe six reasons why. Two entire US counties now have a median home price of $2M+. Learn where they are. It's better to be an investor than a landlord or flipper. GRE Investment Coach, Naresh, and I discuss how to use a lower down payment to achieve a potential 20% cash-on-cash return with the BRRRR Strategy. Join our live, virtual event for this at: GREwebinars.com. Resources mentioned: Join our live, virtual event for Memphis BRRRR properties on June 25th. Free. Sign up now at: GREwebinars.com For access to properties or free help with a GRE Investment Coach, start here: GREmarketplace.com Get mortgage loans for investment property: RidgeLendingGroup.com or call 855-74-RIDGE  or e-mail: info@RidgeLendingGroup.com Invest with Freedom Family Investments.  You get paid first: Text FAMILY to 66866 For advertising inquiries, visit: GetRichEducation.com/ad Will you please leave a review for the show? I'd be grateful. Search “how to leave an Apple Podcasts review”  GRE Free Investment Coaching: GREmarketplace.com/Coach Best Financial Education: GetRichEducation.com Get our wealth-building newsletter free— text ‘GRE' to 66866 Our YouTube Channel: www.youtube.com/c/GetRichEducation Follow us on Instagram: @getricheducation Keith's personal Instagram: @keithweinhold   Complete episode transcript:   Keith Weinhold (00:00:01) - Welcome to GRE. I'm your host, Keith Weinhold. Hold properties are vanishing, and sadly, they represent some really good property types that are hardly being built anymore. American housing is changing for good. Two entire U.S. counties now have median home values of $2 million or more. You'll learn where those are and learn about a specific real estate investing strategy, where investors are getting especially high yield returns in today's low affordability market. All today on get rich education.   Robert Syslo (00:00:37) - 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 listeners downloads and 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.   Robert Syslo (00:01:09) - 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 (00:01:23) - You're listening to the show that has created more financial freedom than nearly any show in the world. This is get rich education.   Keith Weinhold (00:01:39) - What we heard in 188 nations worldwide. I'm your host, Keith Weinhold, and you're listening to get Rich education. Last week, I covered a lot of bad news here as you and I uncovered some real estate problems. Of course, overall, when you're invested in real estate and obtain productive working income for yourself through tenants in their employment, you can almost always play another side of the coin and be profitable because, well, it really comes right back to the fact that real estate pays five ways simultaneously, for example, souring housing affordability. Well, that's bad for homeowners. That's bad news for people that are primarily want to be homeowners and not you. You're an investor. In fact, here's exactly what that means when you're the investor, the homeownership rate has fallen in in the past year.   Keith Weinhold (00:02:38) - It's gone from 66% down to 65.6% due to that low affordability. Okay. Well, that's just a 4/10 of a percent drop in the homeownership rate. And it is poised to fall further. Or what does that 4/10 really mean. Well, that's the proportion of Americans that don't own their homes. So then they have to rent. And this means that there are hundreds of thousands more American renters today than there were just a year ago. And that pushes up rental demand, rental occupancy and the price of rent itself. And that's what you get to capture off from a low affordability problem, which outsiders only think of as bad real estate news, because it is bad news through the lens of that one of your first time homebuyer. Now I want to tell you about the property types that are disappearing. Just vanishing today, and it's the degree to which it's happening that you probably aren't aware of. I'll also tell you why it's personally concerning to me, why this is all going on at all, and I don't even see any reason that it's going to turn around.   Keith Weinhold (00:03:52) - It's probably going to get worse. What's going on is basically that too many builders have thrown their duplex, triplex, and fourplex development plans out the car window like it's an Apple Corps on a summer road trip. They are vanishing. Yes, 2 to 4 unit properties vanishing. In fact, if you're a newsletter subscriber here, you got to see a jarring chart that shows this. And what you'll basically see is that in 2007, the number of 2 to 4 unit properties built just fell off a cliff. It flatlined, and it still hasn't gotten up. The amount constructed now is still just one half to one third of what it had been in pre global financial crisis years. Really they're only closer to a third. All right. So what we're talking about here is only about one third as many duplex triplex and fourplex starts today as there were 20 years ago. And this is sourced by the National Association of Homebuilders. And some call this entire phenomenon M triple M multi families missing middle. And whatever you call this disappearing act.   Keith Weinhold (00:05:10) - Before I get to the reasons for why this is happening, I've got to tell you that this disappearance, it hurts me a little. It's sort of heartfelt because as you know, I began this way with a fourplex that was my first ever property of any kind. You know, the story where I lived in one unit and rented out the other three. It was just an amazing way to start with a bang. Well, now, when we compare this paltry construction, this dearth of. construction today, when we compare that to both smaller property types and larger property types, that being single family homes and five plus unit apartment buildings, will construction of all three of these types fell hard around 2008. But here's the thing. Single family homes and five plus apartment buildings. They got back up around 2010 and they started resuming more building. But duplexes and fourplex, they never did. They never had that happen. The number coming out of the market that just kept flatlining. Those new starts. All right.   Keith Weinhold (00:06:16) - So why exactly is this going on with these vanishing 2 or 3 and four unit property construction types? Why this trend? Well, first, it's NIMBYism, not in my backyard ism primarily of those single family homeowners, because once people are comfy in owning their single family home. Well, then they don't want higher density duplexes in fourplex built in their area. They fear that it can lower their property values. It'll almost certainly increase the traffic around that area. And the second reason is that there simply just been less building overall of most all housing types. And I have discussed this elsewhere, so I won't get into it again. Yes, it is that erstwhile housing supply crash. A third reason for these vanishing 2 to 4 unit properties is the need for zoning reform and the adoption of what's called light touch density. Light touch density. That means a zoning strategy for more dense housing. And what are we up to now for? The fourth reason is that builders, they find more scale efficiencies when they build larger apartments.   Keith Weinhold (00:07:25) - Fifth is limits in international building codes, in international residential codes. And the sixth reason is that this trend began around 2008. These more recent work from home lifestyle starting in 2020. That means that residents can live in single family homes, and they tend to be further from the urban core, rather than 2 to 4 unit properties. And this lifestyle trend right here, that can mean that this disappearing trend for this property type continues. And there you go. They are the six reasons for why. If you were 2 to 4 unit properties are being built today, drastically fewer. And I lament this fact because see duplex the four plex neighborhoods, they can have good walkability where you don't always need a car to get everywhere. And yet at the same time, they still have ample green space. Now, conversely, some fourplex neighborhoods, you know, they can get to look and really junky. Well, they all have different owners. And then there are dumpsters all over the place, like my first fourplex was, and like my second fourplex was as well.   Keith Weinhold (00:08:33) - I really hope that builders become more attracted to the 2 to 4 unit space. See, with giant large apartment complexes, say 300 units. Well, the builder has to wait until the construction of all of those 300 units are done until they can start filling it with rent paying tenants. So therefore builders have to wait longer to start getting that rent income. But instead, construction of this missing middle housing that can be broken into phases. And that way units can be open when they're completed. And that provides early rent revenue to the builder and 2 to 4 unit properties. I mean, they really are an investor sweet spot, but due to builder and lifestyle trends like I'm describing, fewer are being built new. But please remember there were many missing middle properties built decades ago and they can still make good investment properties into the future. In fact, the first two fourplex that I bought were both built in the mid 80s, so there's still plenty that are already out there. The takeaway here for you is that you're going to be seeing fewer new ones, and that means that duplexes to fourplex is now take up a smaller proportion of America's housing stock, and that portion is positioned to become smaller and smaller going forward.   Keith Weinhold (00:09:56) - So it's not that death of these properties. We even have home builders at Gray Marketplace right now with new build 2 to 4 plex. So it isn't their death, but they are dying, waning in number. Now, Jerry recently got Ahold of some jaw dropping info here. I my gosh, now remember a few years ago, maybe even ten or more years ago when you probably heard something like certain small towns in California, Silicon Valley. They now had median priced homes that hit the million dollar mark. And you know, when you first heard that, you might have thought, oh, wow, it's not just neighborhoods, but entire towns in aggregate have hit the million dollar mark in some high priced American places. Well, then get ready for this. As housing affordability makes headlines in California in its wealthiest cities, continue to fight building more housing. We have two Bay area counties, not towns, but entire counties that have hit a milestone. The median price for sold homes there has climbed to $2 million or more.   Keith Weinhold (00:11:15) - We're not just talking 1 million anymore, and we're not just talking about one upper crust town, but two entire California counties now have median home prices of $2 million or more. And notice these are not asking prices. No speculation here. These are the values, the amounts that they have actually sold for. And this is according to a recent California Association of Realtors report. Median homes are now $2 million plus in which two Bay area counties, you might wonder? Well, first, Santa Clara County, which includes San Jose, they notched an even $2 million back in April. And yes, this is more than San Francisco County's $1.8 million. And the second county, it spirals even higher than that. The second California county, with median home prices of 2 million plus is San Mateo County. It's basically a county that lies between San Francisco and San Jose. And that's where the median home price sold for in San Mateo County, California, $2.17 million. Not just one upper crust town, but an entire county.   Keith Weinhold (00:12:38) - Not just $1 million, not even $2 million anymore, but $2.17 million. And this is not for a fancy, lavish home. This is just the median priced home in the middle and San Mateo County that is home to the nation's most expensive zip code, by the way. Atherton, California, where the median home price tops the charts nationally at $7.1 million. That's that is according to Compass Real Estate. And if that's not enough, homes are still flying off the shelves there. They're days on market is now at the lowest since 2022. And though all this sounds pretty astonishing right now, you know what? If you are listening to this episode ten years from now, well into the 2030s, you might think these were the good old days here. How quaint. Because over the next ten years, we all expect more inflation, and we've still got more housing shortage years between now and say, ten years into the future. And of course, here at URI, we don't tend to focus on the high priced markets, which tend to be on the coasts, things like this.   Keith Weinhold (00:13:55) - Really, it's just a harbinger of what's to come to more parts of the nation later on. What we do here is we help you win in real estate without being a landlord and without being a flipper. As a savvy investor that tends to buy either new or fixed up properties and might have a manager manage them for you, hands off is the place to be. Hands off is being an investor, and you get the best tax advantages this way to when your hands off and you know something. Some people that get into real estate investing, they think that they have to be a flipper, or that they have to be a landlord in order to make it profitable. Now, there's nothing wrong with those two disciplines. So much flipping or landlord. I was a landlord for a little while on my own properties. Most of my investment career. I use a property manager and I never flipped. It's just that these things flipping and landlord, they're not any sort of prerequisite to you being a successful investor. You can shortcut all of that with turnkey real estate investing or like with a different strategy that we're going to talk about later today.   Keith Weinhold (00:15:04) - What most people really want is the financial freedom that real estate investing brings. But in order to get there, it's often not the route that you think it is. It's typically not flipping or landlords. And, you know, really it's this way with a lot of things. For example, say that you want to own in ice cream business. Well, most people think that they have to start their own ice cream business from scratch. And like you need to find a space and you need to buy all the equipment and develop systems and go through the excruciating process of hiring all of your staff. No, a lot of times you can shortcut all of that by not starting your own ice cream business, but instead studying, vetting, and buying an existing ice cream business without having to start your own from scratch. Be strategic, study a little, shortcut the process and get in where it's profitable. You want the benefit of owning real estate without having to use a nail gun yourself, or being a manager where you're 25 tenants can text you.   Keith Weinhold (00:16:17) - What kind of life are you building for yourself? Then you want the benefit of owning an ice cream business. The way to get to the end goal. The path there is often different than you think. And here's another example that I can relate to, but I think that you will too. Do you have a favorite real estate? Influencer out there and they think about starting a podcast. Well, I personally know three real estate podcasters out there that have all quit. They produce some episodes and all three quit doing their podcast. And these are just among people I know and just real estate thought leaders. Just that space and all. Recent hosting your own podcast platform is a ton of work from. You need to have a huge bank of your own original content, to having the ability to book big name guests and then making sure they're prepared to. Making sure you have the right marketing team so that a podcast actually reaches the right people. It is work, work, work, and seemingly no one in this world knows that better than me.   Keith Weinhold (00:17:21) - With 500 plus episodes reliably released every single week since 2014, and we don't replay old shows either, there is nothing passive about this. There are so many shows today that if your favorite real estate influencer starts one, they're going to be competing with a lot that are already out there. I mean, anymore, even celebrities that start podcasts, they usually don't get any substantial reach or traction. All these people that start and quit their podcasts, they were too slow to realize that actually they didn't want to host a podcast. What they really wanted is for their voice to be heard. Well, the way to shortcut that, like with turnkey real estate investing or with buying an existing ice cream business, is that that influencer should have developed a strategy for being a guest on other shows that are already popular and established, probably by hiring an experienced and connected booking agent. That way, you've outsourced all of that marketing and research activity to another show that already did that for you. So the point is, be clear on getting what you want.   Keith Weinhold (00:18:34) - What is the goal that you want first, it's probably a large real estate portfolio built for leverage and income, and then work your way back to try to find the most efficient route to get there. And there are often shorter paths to get there than what you first thought. Now, when we talk about where are the best real estate deals today, you have to look harder than you did, say, 8 to 10 years ago. Coming up shortly, you'll have the pleasure of hearing an in-house chat with I in one of Gre's own investment coaches. We're going to talk about a strategy that specific and proven but underutilized in order to recapture those higher cash on cash returns like you could have gotten back in, say, 2015 and 2016. And for a time, I had been talking about how Newbuild properties and their builder interest rate buy downs, that they're really the place to be. And that's still true, but not to the extent that it was just a year ago, because today some builders, they're not paying down your interest rate for you as much as they did last year.   Keith Weinhold (00:19:39) - They're asking you to pay more toward it. Now. A few minutes ago, I told you about America's vanishing duplexes to fourplex. And if you're one of our newsletter readers, you got to see a jarring chart or two that demonstrates exactly what I was talking about there. And also in our newsletter, I show you great maps, real estate maps that beautifully demonstrate housing market trends and where the opportunities are for you. Also, in a recent letter, I showed you exactly where I'm getting 8% interest paid to me and what's basically a savings account. If you don't already subscribe, it is free. Our email letter is called the Don't Quit Your Day Dream letter. It's concise, valuable info that's just good, clean content that I put directly into your hands. It is easier to use than a website. Today's websites have paywalls and cookies, disclaimers or pop up ads. This is just the good stuff directly from me, straight to you. And you can get the letter now at get Rich education com slash letter that's get rich education com slash letter.   Keith Weinhold (00:20:50) - In a world of AI and bots, I actually write every word of the don't quit your daydream letter myself, just like I have from day one. And another easy way to start the free letter is text gray to 66866. Just do it right now while it's on your mind. Text gray to 6686616. I'm Keith Reinhold. You're listening to get Rich education. Your bank is getting rich off of you. The national average bank account pays less than 1% on your savings. If your money isn't making 4%, you're losing your hard earned cash to inflation. Let the liquidity fund help you put your money to work with minimum risk. Your cash generates up to an 8% return with compound interest year in and year out. Instead of earning less than 1% sitting in your bank account, the minimum investment is just 25 K. You keep getting paid until you decide you want your money back there. Decade plus track record proves they've always paid their investors 100% in full and on time. And I would know, because I'm an investor, to earn 8%.   Keith Weinhold (00:22:02) - Hundreds of others are text family 266866. Learn more about Freedom Family Investments Liquidity Fund on your journey to financial freedom through passive income. Text family to 66866. Role under the specific expert with income property, you need Ridge lending group and MLS for 2056 injury history from beginners to veterans. They provided our listeners with more mortgages than anyone. It's where I get my own loans for single family rentals up to four Plex's. Start your prequalification and chat with President Charlie Ridge. Personally, they'll even customize a plan tailored to you for growing your portfolio. Start at Ridge Lending group.com Ridge lending group.com. This is peak prosperity.   Robert Syslo (00:23:00) - Chris Martinson, listen to get Rich education with Keith Arnold and don't quit your daydream.   Keith Weinhold (00:23:15) - Hey, would like to welcome in Gray's extraordinary investment coach. He's booksmart because he's got his MBA. He street smart because he's an active direct real estate investor, just like I am. Before joining gray back in 2021, he worked for financial publishing companies and in the banking sector, too and elsewhere. And today is an investment coach here.   Keith Weinhold (00:23:36) - He helps beginning real estate investors understand the process of acquiring rental property, and he helps veteran investors optimize their strategies to save on taxes and more. Hey, it's terrific to welcome back Naresh Vizard. Thanks a lot Keith. It's been a while, but I'm looking forward to talking real estate before we're done. Today, we're going to tell you about an upcoming live GRE virtual event, where you learn how to get 20 to 25% of immediate built in equity through real estate. And before we do the race, let's talk about what's really going on. Besides giving GRE devotees free education and guidance like you do, you also help them find the best deals on income properties nationwide and for a time, brand new build to rent properties they look good in. Many still do with a lot of rate buy downs into the fives and even the fours on those new build properties. But this year, I learned that builders aren't contributing to buying down the race for the investor like they had last year, and that the onus seems to be more on the investor to buy the rate down with some of these builders.   Keith Weinhold (00:24:44) - So tell us more about what's happening in America's build to rent sector. Well, Keith, build to rent. For those who don't know, it's been around here at GRA. Bill to rent asset classes, build to rent real estate. But it's the concept of builders building real estate properties with the intention of selling them to investors so they can rent it out. So right now I live in a house that was built, and I bought it because the builder intended for somebody to buy it and live in it. That's not built to rent. Build to rent is the idea of.   Naresh Vissa (00:25:16) - Specifically selling it to investors like our listeners, like our loyal followers who live out of state and who want to rent the properties out to tenants. Now, Build to Rent was very hot and it's still popular. I don't want to call it hot, but it's still popular for those who want new construction properties. However, the rehabs are making a furious comeback because there was about a four year period from 2019 to 23 or so where you just couldn't find good cash flowing rehabs.   Naresh Vissa (00:25:50) - Right. And when I say rehabs, I mean these older properties that were built 50 years ago, maybe as long as 120 years ago there we have some properties in our inventory that were built in the late 1800s, and they've just kept being rehabbed and rehabbed and renovated. Buildings are making a furious comeback because they're cash flowing better. Previously, they were just cash flowing marginally better than new construction built to rent properties. Now, especially with a strategy called ver, which we'll talk about some more, you can have the opportunity to get cash on cash returns back to what you remember in 2016, 2015 where we're talking 15, 16% cash on cash returns. I mean, some of our BR clients or listeners who ended up buying BRS, they're doing 2021 all the way up to 30% cash on cash returns. So BR simply means buy, rehab, rent, refinance, repeat the cycle. So that's B followed by for Rs b r r r r buy, rehab, rent, refinance. Repeat the process again.   Naresh Vissa (00:27:10) - And it's during that refinance where investors are getting a good chunk of their down payment back. Because what happens in that refinance is after you rehab it and you read it, you rent it out at the target rent, which almost all of these are renting out at very aggressive high target rents. When you refinance it, the property appraises at a value that's much, much greater post rehab than when you initially bought it. And that's where you get essentially your money back. You can choose to keep it in with the mortgage company so you have more equity in the property, or you can take the cash back and use it to buy more BR properties. It's become a very popular. Form of real estate investing. People think when they hear this. Well, it sounds like flipping, right. This is not flipping. Flipping is kind of like day trading. You're looking to make a quick buck, whereas in this case you're not selling the property. You're keeping the property with the intention of renting it out and collecting the cash flow from your tenant.   Naresh Vissa (00:28:19) - So that's in a nutshell, what BRR is. And we are having a live event on Tuesday, June 25th at 8:30 p.m. Eastern Time. That's Tuesday, June 25th at 8:30 p.m. eastern. Time to talk about and go over this BR process. The bird key process or listeners are familiar with turnkey. Well we have BR key which is similar except it's using the BR method. And Keith, you probably know this and you've talked about it a little bit on your podcast. BR has become the most popular strategy that our investors are utilizing this year, 2024.   Keith Weinhold (00:29:01) - Yeah. Now back to the build to render the new build properties is attractive as they can be because they attract a certain quality of tannin and they're not going to have any maintenance or repair issues, most likely for quite a while. The thing with those is, oh, you might pay 300 K or more for a new build. Single family home in the builder rent style with 20% down payment, 5% for closing costs, you're out of pocket. 75 K.   Keith Weinhold (00:29:30) - One reason that this has become the most popular strategy for gray followers we're talking about here. The BR strategy is that you could come out of pocket with a lot less to begin with.   Naresh Vissa (00:29:42) - That's number one. Number one is we have some GRE followers who went into this Berkey and they put no money down. They got lucky. They initially bought the property, and the property appraised so much that they got their money back and their down payment was actually zero. They didn't make money on it, but what they allocated, what they thought that they would allocate 25% down, they ended up using that money since they got it back to buy a second property and then a third property and then a fourth party. We have one guy who bought six properties, all birds, because he didn't get I don't want to say, look, we're not making promises that you're going to put 0% down. That's not the promises that we're making. The worst case scenario is that you put 25% down and that's your standard real estate investment.   Naresh Vissa (00:30:27) - But there is a chance that you could put 15% down or 10% down if the rehab turns out really well. And if you get a good appraiser, there's a chance it can happen. But the goal here, again, is not to make a quick buck or to house hack. We're not taking shortcuts here. The goal here is simply to buy a property renovated or rehab it and drive up the rent price, drive up the value of the property, put a good tenant in there and call it a day. Collect those cash flows. Now I do want to say a few things about that process. So like I said, the first thing that you do is you buy. So first you buy, then you rehab. You do not have to do we call it Berkey because everything is done for you. So when people hear this, they're like, oh, this sounds like I live in Florida. I don't want to go to Memphis. And by the way, this specific market is in Memphis, Tennessee that we're focusing on.   Naresh Vissa (00:31:26) - We have burrs in Baltimore, Maryland and Philadelphia, Pennsylvania and Pittsburgh, Pennsylvania. But we've identified Memphis as not just the hottest, but it just makes the most sense numbers wise. And so I want to go back to the point of, hey, you don't have to physically go or even go on Google and find handymen or rehab ers to do this for you, our Berkey provider. The best part is they do it all for you. It's completely taken care of. You literally just sign some papers. Once you decide that you like a property and the specs of the property, you sign some papers. They take care of it. The rehab takes about 90 days. Then from rehab to closing, it takes another 40 days or so. And then from closing to someone signing a lease that takes another 30 days to find somebody, stick them in there and takes another 30 days after that for the tenant to move in. So overall, this process can actually take just for one property. You can take six months.   Keith Weinhold (00:32:26) - Now. Naresh has touched on it somewhat. One conventional problem with the Burr strategy by rehab rent, refinance, repeat is that first are the rehab because it involves vetting and managing contractors, which is a real nightmare for many. So instead, we're talking about tapping into a system with a proven team of contractors and lenders and project managers to make it easy. It's known as Berkey, and it's in profitable Memphis.   Naresh Vissa (00:32:54) - Profitable Memphis. And I'll say this about Memphis, we're going to talk. Way more about this on the webinar. Highly recommend people go to GRI webinars. Com gri webinars.com. You can sign up for the webinar there. It's actually live. So this is not like something that you just can show up to whenever you want. It's a live event on Tuesday, June 25th at 8:30 p.m. Eastern Time. That's Tuesday, June 25th at 8:30 p.m. Eastern Time. Great webinars.com is how you can register. And like you said, we could have focused on Baltimore, Maryland or Pittsburgh. Memphis has really and I myself by the way, own five properties and four in Memphis proper.   Naresh Vissa (00:33:42) - And one is in the Memphis area and Mississippi, a suburb of of Memphis. And this I don't want to call it a town, because Memphis used to be one of the most popular towns in the south back in the day. But this city has really come up as a result of pandemic, of population growth, of even inflation. We've seen rents go up, we've seen the population go up. Memphis is not what you think of from eight years ago. Seven years ago when I first bought my properties. I'll admit, when I bought my first property seven years ago in Memphis, I had a lot of problems with tenants. I had a lot of problems with the city. I didn't like what I was reading about the police department, just all sorts of things. Not the police department, just crime in general. And Memphis has really turned itself around. Not completely turned itself around, but it's gotten better. And we're seeing it just on the investment side because that's where we're seeing appreciation growth. My personal properties, they're up since 2020, since January 2020, I was when I closed all my last Memphis property.   Naresh Vissa (00:34:49) - They're all up at least 50% in value. So it's a market that's still appreciating. But the most important thing because we are cash flow investors, not necessarily appreciation investors. It's great to get the appreciation, but the rents keep going up. And I actually today I've talked to a Berkey client, great loyal Jerry listener and follower who ended up buying three properties, and she's on her fourth one, or about to do a fourth one with this Memphis market provider. And when she told me her rents, I was blown away at how much these properties were renting for before the rehab. So it's not just the appreciation again, that goes up after the rehab, how much they were renting for before the rehab. We're talking less than $800 a month and post rehab. Her rents went up by nearly 50%, about 45% on average. House rehab is like three bedroom, one and a half bathroom. Homes initially she bought them. This is how a lot of the properties are. They only had two bedrooms and they converted one of the spaces.   Naresh Vissa (00:36:05) - The rehab were converted at no extra. You know, it's all inclusive of the rehab charges. They were able to find space in a lot of these properties that were two bedrooms to create a third bedroom and turn them into three bedroom properties instead of two bedroom properties, which also improves the value of the home. And you can get another body in there and increase the rent. So, Jerry, listeners have been really, really happy with this burpee process because at the end of the day, you really do get more bang for your buck. Yes, new construction overall. It's just safer. We have tons of great new construction providers, especially in Florida, whom we recommend, but this is an alternative for those people who don't have $100,000 sitting in the bank ready to invest in a new construction, single family, or a new construction duplex. The Berkey, I mean, really all you need is about 20, $25,000 to do it. And like I said, if you get lucky, you could get a decent portion of that back after the rehab.   Keith Weinhold (00:37:08) - Well, you bring up so many good points there in the race. For one thing, with real estate, you can intentionally improve the value. That's something that you cannot do if you own a stock or if you own cryptocurrency, or if you own gold, you can help control what your investment is worth. And a lot of that happens here in the rehab process. Well, the race would love to tell you more, including walking you through an example with numbers, but that's the best place for him to do it. That is on the live event next week because it is co-hosted by narration. You can join the live virtual event from the comfort of your own home. You can ask questions and have them answered in real time. It is all free and we'll also be sharing special off market Berkey inventory. In Memphis for two, three and four bedroom properties, so go ahead and attend on June 25th. Which again is next Tuesday. Be sure to register now at GR webinars.com. Just been great to walk through the Berkey.   Keith Weinhold (00:38:12) - Thanks so much for coming back on the show.   Naresh Vissa (00:38:14) - Thank you. It's been a pleasure.   Keith Weinhold (00:38:21) - Oh good info from Gree investment coach Naresh as always. Next week's live event. That could be a bigger deal than the Paris Olympics this summer and this year's presidential election combined. Oh yes. Well, at least it expects to be more profitable for you than those other events. It will also be more entertaining when you join as an attendee live next week. Certainly more entertaining and informative than Olympic handball and Olympic race walking, no doubt about that. I don't think I've offended any race walking fans because there are only perhaps five in the world. In any case, BR is a process by which, after you buy months later, you can expect to refinance at a higher valuation since the property has been rehabbed from your initial purchase, and then you get a big chunk of your own down payment back, meaning you have less invested in the deal. And that's why you get a higher cash on cash return. Because cash and cash return all that is, is your annual cash flow divided by your initial investment or your starting equity position.   Keith Weinhold (00:39:37) - The last R in BR is repeat. You can repeat sooner because you did get some of your invested cash back. And that's part of what makes the strategy so effective. Now is part of your refi. You might get a post appraisal rehab that's so high you essentially get all of your down payment money returned to you, at which point it would be an infinite return because you don't have anything invested in the deal. But you should not count on having all of it returned, just a lot of it or most of it. Next week's live event is where the BR real estate investing strategy gets introduced to a wider swath of America one last time. Attend live next Tuesday. The 25th. I really encourage you to check it out. Be sure to sign up for the virtual GRE live event now! It's pretty quick and easy to do at GR webinars.com. Until next week, I'm your host, Keith Weintraub. Don't quit your day dream.   Speaker 5 (00:40:41) - Nothing on this show should be considered specific, personal or professional advice.   Speaker 5 (00:40:45) - 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 yet Rich education LLC exclusively.   Robert Syslo (00:41:09) - The preceding program was brought.   Keith Weinhold (00:41:10) - To you by your home for wealth building. Get Rich Education.com.

“Once I started making six figures working from home, I said, 'Hey, there's no turning back. I'm never going back into an office.” - Naresh VissaToday's featured bestselling author is a father, husband, curious workaholic, serial entrepreneur, and founder and CEO of Krish Media & Marketing, Naresh Vissa. Naresh and I had a fun on a bun chat about his books, how to stay productive when working from home, why he plans to run for president every four years, and more!!Key Things You'll Learn:Why it's okay to entrepreneurship a chanceWhat to keep in mind about your pricing strategy as an entrepreneurWhat copywriting is and how to do it well in your marketingNaresh's Site: https://www.krishmediamarketing.com/Naresh's Books: https://www.amazon.com/stores/author/B00G5IU3C6/allbooksThe opening track is titled "Kareru R Daichi Q-MIX" by Rukunetsu AKA Project R (@Rukunetsu). Use the following link to hear the full track and support his craft. https://on.soundcloud.com/62w8XPlease support today's podcast to keep this content coming! CashApp: $DomBrightmonDonate on PayPal: @DBrightmonBuy Me a Coffee: https://www.buymeacoffee.com/dombrightmonGet Going North T-Shirts, Stickers, and More: https://www.teepublic.com/stores/dom-brightmonThe Going North Advancement Compass: https://a.co/d/bA9awotYou Might Also Like…#GNPYear1 Bonus Episode 2 - "Building An Economic Legacy" with Antonio T. Smith Jr. (@TheATSJr): https://www.goingnorthpodcast.com/gnpyear1-bonus-episode-2-building-an-economic-legacy-with-antonio-t-smith-jr-theatsjr/Ep. 331 – “The New MBA” with David Schloss (@Schlossy): https://www.goingnorthpodcast.com/ep-331-the-new-mba-with-david-schloss-schlossy/98 - "It Takes 10 Years to Be an Overnight Success" with Pamela Hilliard Owens (@YB2C_System): https://www.goingnorthpodcast.com/98-it-takes-10-years-to-be-an-overnight-success-with-pamela-hilliard-owens-yb2c_system/Ep. 830 – How to Craft Spellbinding Stories for Your Brand with Park Howell (@ParkHowell): https://www.goingnorthpodcast.com/ep-830-how-to-craft-spellbinding-stories-for-your-brand-with-park-howell-parkhowell/Ep. 806 – Big Bet Leadership with John Rossman (@johnerossman): https://www.goingnorthpodcast.com/ep-806-big-bet-leadership-with-john-rossman-johnerossman/288.5 (Host 2 Host Bonus) – “Choose the Right Mountain; Climb Faster!” with David Wood (@_playforreal): https://www.goingnorthpodcast.com/DavidWood2/#Bonus Ep. - “How to Unplug, Unwind and Think Clearly in the Digital Age” with Daniel Sih: https://www.goingnorthpodcast.com/bonus-ep-how-to-unplug-unwind-and-think-clearly-in-the-digital-age-with-daniel-sih/Ep. 493 – “The Three R's of Business Growth” with Edwin Dearborn (@edwindearborn): https://www.goingnorthpodcast.com/ep-493-the-three-rs-of-business-growth-with-edwin-dearborn-edwindearborn/Ep. 413 – “Losing $30K & Reinventing Yourself” with Vladimir Adonis (@vladimiradonis3): https://www.goingnorthpodcast.com/ep-413-losing-30k-reinventing-yourself-with-vladimir-adonis-vladimiradonis3/Ep. 387 – “How to Demolish Imposter Syndrome & Create an Online Course” with Mark Kumar (@mark2kumar): https://www.goingnorthpodcast.com/ep-387-how-to/Ep. 400 – “How to Become a Multimillionaire, but Not Act Like It” with Tom Antion (@TomAntion): https://www.goingnorthpodcast.com/ep-400-how-to-become-a/281 – “No More Average” with Andy Audate (@andyaudate): https://www.goingnorthpodcast.com/281-no-more-average-with-andy-audate-andyaudate/Ep. 474 – “How Social Media Impacts The Way We Think, Feel and Behave” with Tyler Hendon (@tylerhendon7): https://www.goingnorthpodcast.com/ep-474-how-social-media-impacts-the-way-we-think-feel-and-behave-with-tyler-hendon-tylerhendon7/

Visit thedigitalslicepodcast.com for complete show notes of every podcast episode. Join Brad Friedman and Naresh Vissa as they chat about podcasting, why it's important for your business and some tips to get listeners and generate revenue. Naresh Vissa is the Founder & CEO of Krish Media & Marketing, a full service e-commerce, technology, development, online, and digital media and marketing agency and solutions provider. He has worked with CNN Radio, Clear Channel Communications, J.P. Morgan Chase, EverBank, The Institute for Energy Research, Houston Rockets, Houston Astros, the American Junior Golf Association, Agora Financial, Agora Publishing, Stansberry Research, and TradeStops. He is the #1 bestselling author of "Fifty Shades of Marketing: Whip Your Business into Shape & Dominate Your Competition," "Podcastnomics: The Book of Podcasting... To Make You Millions," "The New PR: 21st Century Public Relations Strategies & Resources... To Reach Millions," "Trumpbook: How Digital Liberals Silenced a Nation into Making America Hate Again," and the new book "From Nobody To Bestselling Author! How To Write, Publish & Market Your Book." He is the co-host of The Work From Home Show.

Naresh discusses his journey from the corporate world to entrepreneurship, his early interest in business and finance, and his early involvement in podcasting. He also talks about his book '50 Shades of Marketing' and the publishing process. Naresh shares his current ventures in media and marketing, as well as his future plans. www.nareshvissa.com Takeaways Naresh's journey to entrepreneurship started in high school, and he gained confidence and experience through working in entrepreneurial roles within companies. His early interest in business and finance was sparked by reading books like 'Art of the Deal' and 'Rich Dad, Poor Dad'. Naresh has been involved in podcasting since its early days and has written a book on podcasting called 'Podcastonomics'. His book '50 Shades of Marketing' covers a wide range of marketing topics and offers insights and strategies for businesses. Naresh is currently running his media and marketing company, as well as investing in real estate. He is also working on several new books and a podcast about working from home. ***Let's Connect: Website: https://kuhne.no Linkedin: https://www.linkedin.com/in/nickkuhne/ Youtube: https://www.youtube.com/@wunder_brand/podcasts Twitter: https://twitter.com/nickkuhne Spotify: https://podcasters.spotify.com/pod/show/nicholas-kuhne Apple: https://podcasts.apple.com/no/podcast/from-startup-to-wunderbrand-with-nicholas-kuhne/id1700993399 Become a guest: https://www.joinpodmatch.com/nickkuhne --- Send in a voice message: https://podcasters.spotify.com/pod/show/nicholas-kuhne/message

We spoke to Naresh Vissa, Founder & CEO of Krish Media & Marketing, about how he started his digital marketing company while working a full time job & why diversifying his clients & businesses has been a key to his success. We also dived into the topic of AI and its future in the tech world, the best podcasts and books for developing as a business owner, and what the most surprising part of being an entrepreneur has been.Naresh's Podcast, "The Work from Home" ShowNaresh's WebsiteJoin our Patreon! Books Mentioned: (Affiliate Links)Fifty Shades Of Marketing: Whip Your Business Into Shape & Dominate Your Competition by Naresh Vissahttps://amzn.to/3SXGaHlPodcastnomics: The Book Of Podcasting... To Make You Millions by Naresh Vissahttps://amzn.to/3I3DS32The Long Tail: Why the Future of Business is Selling Less of More by Chris Anderson https://amzn.to/4bCupNLThe 7 Habits of Highly Effective People by Stephen R. Coveyhttps://amzn.to/49bdFLXYegi is a young entrepreneur who has always been curious and hardworking. You can say she has always seen things out of the box and been able to creatively solve difficult problems. Her cool and collective spirit in life and business makes you want to be around her. She thrives on inspiring others and helps others see things from a positive point of view. The Yegi Project, is the podcast for the young entrepreneur who may not know where to start, doesn't have anyone to guide them in the right direction and may not have full support from others. This podcast is called The Yegi “Project” because although Yegi is happy with where she is now, she knows that she still has a lot to do to complete her mission and purpose in this world. She aims to use this podcast to work hard alongside all of you to grow to a point where she can make a lasting change in people's lives and in the world.  If you would like to be a guest on a future episode of The Yegi Project, please email info@yegiproject.comThe Yegi Project is available on Apple Podcasts, Spotify, Stitcher and more!https://linktr.ee/theyegiprojectDisclaimer: This podcast or any other The Yegi Project episodes on this platform or other podcast streaming platforms is not legal business or tax advice. I make this content based on my own experience as a business owner and MBA for educational and entertainment purposes only.

Immigrants keep pouring into the US' southern border.  How are we going to house them? We're already millions of housing units undersupplied. Some migrants get free housing. Yet there are homeless veterans. Here's what to expect from more immigration: more rental housing demand, more multigenerational dwellings, more homelessness, higher labor supply. Get a simple explanation about title insurance. Our in-house Investment Coach, Naresh, joins us with a real estate market update.  Two popular investment markets are Memphis BRRRRs and Florida new-builds. He provides free coaching at GREmarketplace.com. Timestamps: The immigrant crisis worsens (00:00:01) Discussion on the increasing number of immigrants and the housing shortage crisis in the United States. Housing supply shortage (00:02:44) Analysis of the shortage in housing supply, estimated to be around 4 million units, and the decline in available housing units. Impact of immigration on housing demand (00:05:07) Forecasted impacts of immigration on housing demand and the expected population growth due to immigration. Challenges and solutions for housing immigrants (00:09:03) Discussion on the challenges of housing immigrants and potential solutions, including easing construction restrictions and promoting the building of entry-level housing. Title insurance explained (00:17:29) Explanation of title insurance, its types, and its significance in real estate transactions. Update on property manager's situation (00:15:08) An update on the property manager's situation involving stolen rent payments and the tenant's agreement to compensate for the loss. Mortgage rates and inflation (00:21:52) Discussion on the current mortgage rates and their correlation with inflation, as well as predictions for future rate movements. Mortgage Rates and Fed's Strategy (00:22:54) Discussion on the impact of the Fed's decision to hold rates and its potential effect on mortgage rates. Incentives and Real Estate Markets (00:25:08) Explanation of incentives offered in Memphis and Florida real estate markets, including the BR method and new build properties. Real Estate Investment Strategies (00:29:04) Comparison of the Memphis BR method and Florida new build as investment strategies, emphasizing the benefits of each approach. Property Investment Insights (00:32:16) Discussion on the impact of property ownership and the potential for life-changing outcomes through real estate investment. Economic Uncertainty and Real Estate (00:37:07) Anticipation of potential economic volatility and its impact on real estate investment decisions, emphasizing the stability of real estate during uncertain times. Resources mentioned: Show Page: GetRichEducation.com/487 For access to properties or free help with a GRE Investment Coach, start here: GREmarketplace.com Get mortgage loans for investment property: RidgeLendingGroup.com or call 855-74-RIDGE  or e-mail: info@RidgeLendingGroup.com Invest with Freedom Family Investments.  You get paid first: Text FAMILY to 66866 Will you please leave a review for the show? I'd be grateful. Search “how to leave an Apple Podcasts review”  Top Properties & Providers: GREmarketplace.com GRE Free Investment Coaching: GREmarketplace.com/Coach Best Financial Education: GetRichEducation.com Get our wealth-building newsletter free— text ‘GRE' to 66866 Our YouTube Channel: www.youtube.com/c/GetRichEducation Follow us on Instagram: @getricheducation Keith's personal Instagram: @keithweinhold   Complete episode transcript:   Keith Weinhold (00:00:01) - Welcome to GRE. I'm your host, Keith Weinhold. Hold. The immigrant crisis worsens. Where are we going? To house all these people. A simple explainer on what title insurance is. Then where do you find the best real estate deals in this market today on get Rich education. If you like the get Rich education podcast, you're going to love our Don't Quit Your Daydream newsletter. No, I here I write every word of the letter myself. It wires your mind for wealth. It helps you make money in your sleep and updates you on vital real estate investing trends. It's free! Sign up and get rich education.com/letter. It's real content that makes a real difference in your life, spiced with a dash of humor. Rather than living below your means, learn how to grow your means right now. You can also easily get the letter by texting gray to 66866. Text gray to 66866.   Speaker 2 (00:01:06) - You're listening to the show that has created more financial freedom than nearly any show in the world. This is get rich education.   Keith Weinhold (00:01:22) - Welcome to jewelry heard in 188 world nations from Lima, Ohio to Lima, Peru. I'm your host, Keith Weinhold. Get rich education founder, Forbes Real Estate Council member and longtime real estate investor. Our mission here. Let's provide people with good housing, help abolish the term slumlord and get paid five ways at the same time. Immigrants keep pouring into our southern border. In fact, federal agents encountered roughly 2.5 million migrants there just last year alone. Now, though, not all will become permanent residents. Understand? 2.5 million. That's the population of the city proper of Chicago or Houston. All in just one year. How are we going to house all these migrants? This crisis has only worsened in that 2.5 million migrants in a year figure is, according to US Customs and Border Protection data. Now, understand first that America has about 140 million existing housing units. That's what we're dealing with today. By every estimate out there, we already have a housing shortage. The layperson on the street knows that and estimates about its magnitude.   Keith Weinhold (00:02:44) - I mean, they're all over the map, some as high is America is already 7 million housing units undersupplied in order to house our current population. And you have other estimates as low is that we're only 1.5 million housing units. Undersupplied. So let's interpolate and kind of be conservative, or just use a figure closer to a common consensus and say that we are 4 million housing units. Undersupplied. All right. But if that's our given, here's what that means. 4 million housing units undersupplied to merely reach a balanced housing supply, we'd need to build enough homes to meet population growth, plus 400,000 on top of that. And we'd have to do that every single year for an entire decade. Just astounding. And to be clear, that's not to be oversupplied with housing. That's just to reach an equilibrium between supply and demand. Now, the supply of available housing, and this is basically what I'm going to talk about next, is the number of homes for sale at any given time, right. That began gradually descending in 2016.   Keith Weinhold (00:04:02) - And back then it was one and a half to 2 million available units. And in the spring of 2020, like I've talked about before, the housing supply just crashed to well below 1 million, and it still hasn't gotten up from its mighty fall. In fact, it's only about 700,000 units available today. All right, that is the Fred active listing count and Fred's sources there. Statistics from Realtor.com. All right, so that's what we're dealing with. That's a dire situation. All right, well, how do housing starts? Look, are we building up out of the ground enough to maybe start getting a handle on this sometime in the next decade? I mean, is there anything that could be more encouraging than more housing starts? Well, really, there's nothing encouraging there at all. In fact, new housing construction starts have hit a ten month low. My gosh. So that's the supply side. All right. What about the housing demand side? Well America's population grew by 1.6 to 1.8 million people between 2022 and 2023.   Keith Weinhold (00:05:07) - And that number is forecast to climb during the next few years, worsening the housing shortage crisis. And with US births falling and deaths rising, it's immigration, immigration is what is going to fuel the majority of population growth for the next decade. Immigrant related growth that is going to impact local housing markets across the country. And it's expected to hit especially hard in the northeast, Florida, California, Nevada and Texas. And what's happening is outraging some people. Some cities are housing migrants in public places, even arenas, including ones that Texas Governor Greg Abbott has bused to the northeast. And, of course, New York City Mayor Eric Adams has been outspoken about how to handle the migrant crisis. Understand that there are homeless veterans out there in America, yet the state of Maine is giving migrants up to two years of free rent for new apartments. In that right there has made a lot of people. And there are a lot of other cases out there like that of migrants getting free housing. Now, just consider this John Burroughs research and consulting.   Keith Weinhold (00:06:31) - They provide a lot of good information to the real estate market, and they have for a long time credit to them. And by the way, if you'd like us to invite John Burns onto the show here or if you have any other comments or questions or concerns, feel free to write into us through get Rich education. Com slash contact. So you can send either an email or leave a voice message. Well, according to their industry respected data, some of which is compiled through the US Census Bureau back in 2021, that's when we reached an inflection point where the US population grew more through immigration than it did through natural increase in natural change. That is simply the births minus deaths, and that is continued each year since there is more US population growth through immigration than there is through natural increase. In fact, bring it up to last year, our population grew by 1.1 million through immigration and just 500,000 through natural increase, more than double more than double the increase through immigration as natural change. And John Burns makes the forecast through the year 2033.   Keith Weinhold (00:07:47) - So the next nine years, the growth through immigration will outstrip that some more and become double to triple that of natural growth overall. Every single year through 2033, we'll add 1.7 to 2 million Americans. And they all need to be housed somewhere. So the bottom line here is that immigration fueled growth already outstrips natural growth. And that should continue and only be weighted more heavily toward immigrants every single year for the next decade, probably beyond the next decade. We just don't have projections that far yet. Well, how are you going to house all these people when we're already badly undersupplied and understand I'm not making any judgments on saying who or who should not be able to enter our nation. That is for someone else to decide. And in fact, I'm the descendant of immigrants. They're my ancestors. And you may very well be too. And over the long term, immigrants can be an asset. I am simply here asking where and how are we going to house them for the next decade and what that means to you.   Keith Weinhold (00:09:03) - Tiny homes, 3D printed homes, shipping container homes none of them seem to be the answer. And of course, population forecasts. When you look out in the future like that, they're going to vary based on the percentage of successful asylum seekers in the 2024 presidential election winner, and more. So, the figures that I shared with you, they are only the average case. In any case, the crisis is poised to worsen because now you've seen that there is a terrible mismatch between population growth and housing starts. How are you going to solve this? The government needs to ease construction restrictions and promote the building of entry level housing. More up zoning should be allowed. Do you know what up zoning is? It means just what it sounds like increasing the housing density, often by building taller buildings. So up zoning is taller building heights. All right. Well let's look at really.   Speaker 3 (00:10:02) - Four.   Keith Weinhold (00:10:03) - Big impacts that this immigration wave is having on America's already scarce supply of housing. New immigrants typically rent property. They don't buy property.   Keith Weinhold (00:10:16) - So that's higher rental housing demand. Secondly, expect more multigenerational and family oriented dwellings. That's what's needed with additional bedrooms and affordable price points like entry level single family rentals. If you want to own rental property, that right there is the spot for durable demand. And thirdly, I'm sorry, another impact is expect to see more homeless people in your community like I've touched on before. In fact, homelessness is already up 12% year over year. That's partly due to inflation, and that is already the biggest jump. Since these point in time surveys have been used. The biggest ever jump in homelessness are ready. Those stats only go back to 2007. That's when they begin measuring it. And that's according to HUD and federal officials. And then the fourth and final impact of all this immigration is that builders and manufacturers will probably see a small uptick in labor availability these next. Few years. Okay, that part could help. America could help with this labor shortage crunch. But all the other major impacts put more demand and strain on what's already a paucity of American housing supply.   Keith Weinhold (00:11:36) - And the bottom line is that there are too many people competing for too little housing, driving up prices and driving up rents this decade. I've been talking about lots of people moving north across borders. Me, I've recently moved south across borders, though for only a few weeks here. I'm joining you from here in Medellin, Colombia today, where in between doing my real estate research here, I'll be trekking in the Colombian Andes this week and the Ecuadorian Andes next week, when I'll be based in Ecuador's national capital of Quito. And, you know, there's a real estate lesson in this itself. Really? Okay, me traveling to Colombia and Ecuador, people often label and mischaracterize areas that they haven't been to or say they hear of the drug trade in Colombia or of some of the more recent, I guess, civil unrest in Ecuador, where I'll be next week. And they think, sheesh, isn't it dangerous in those places? Oh come on, I mean, sheesh, Colombia is a nation of 52 million people and it's almost twice the size of Texas.   Keith Weinhold (00:12:44) - The question is where? Where in Colombia do you think is dangerous? Don't you expect there would be great variability there? Now you the great listener. You're smarter than the average American. So I think that you get it with last month's continued civil uprising in Ecuador, seeing that story in the news that actually reminded me to book a trip there, the opposite of staying away when they held up all the people at that TV station that was way out in Guayaquil, Ecuador. To tie in the real estate lesson here. Back to your home nation. If you do live in the US or wherever you live like I do, see our investment coach, Andrea. She moved from Georgia to the Detroit Metro a couple of years ago. I don't think you'd want to invest in real estate in Andrea's neighborhood, where she lives in Detroit, because it's too nice. The property prices are high and the numbers wouldn't work for you in an upper end neighborhood of metro Detroit. But people that haven't been to Detroit don't think about areas being too ritzy for investment.   Keith Weinhold (00:13:49) - Well, of course, some of the areas are. Some of my point is, stereotypes are hard to shake. I encourage you to get out and see the world now. I've got an interesting and really an unlikely update on my property manager that had the tenant rent payments stolen from his drop box, meaning I didn't get paid the rent. The property manager, he didn't make good on that and pay me the rent. He wanted me to take the loss from the rent payment that he failed to secure from the paper money order stolen from his overnight drop box. So the manager doesn't want to take the loss. I don't want to take the loss well, and I can hardly believe this, but apparently the tenant has agreed to make the property manager hold. The tenant would effectively pay rent twice for that month, and then the property manager will apparently finally pay me the missing rent after it flows through him. The manager. I don't know if the property manager had to convince the tenant that it's the tenant's responsibility to put the payment right into the manager's hands, or what? So the tenant, what they're going to do is pay an extra $200 a month until the $1,950 stolen rent is compensated, I guess what, eight months of stepped up rent.   Keith Weinhold (00:15:08) - And so I was just really surprised that the tenant would agree to do that. And, you know, in this saga that I've been describing to you for, I guess, the third week in a row now, you know, one Jerry listener, they asked me something like, doesn't your property manager know that you're rather influential in the real estate world? Like thinking maybe I'd get preferential treatment? Oh, to that I say, no, I don't want preferential treatment. I mean, few things are more annoying in society than people that position themselves like that. But I will tell you that I actually did meet this property manager in person before he started managing my properties, and he did wear a suit and tie in the conference room for meeting me, which I thought was interesting. Later today on the show, we've got a guest that's familiar to you. He was somewhat bearish on real estate when he was here with us back in November. That's when he talked about how activity was slow, and you might even want to sit on the sidelines of adding more property to your portfolio.   Keith Weinhold (00:16:10) - We'll see if that's changed today. Now over on YouTube, you might very much like watching me in our explained. Video series because in a video format, I can show you where the numbers come from at. Very simply, break down an investing term like net worth for one video or cash flow, or your return on amortization in another one. There's also a new video in our explained series about title insurance, and this is what you'll hear over there. The title to a house is the document that proves that the owner owns it. Without that proof, the house can't be bought or sold, and title insurance is written by title insurance companies. What a title insurance company does is research the history of the house to see if there are any complications, also known as clouds, in its ownership issues that cloud the title could be like an outstanding old mortgage that the prospective seller has on the property. A previous deed that wasn't signed or wasn't written correctly and unresolved legal debt or a levy by a creditor, like an old lien placed by a contractor who once did some work on the windows and was never paid for it.   Keith Weinhold (00:17:29) - They're all examples of clouds on a title, and make transferring the property ownership difficult or impossible. But if the title appears to be clean, no clouds, then the title insurer writes a policy promising to cover the expenses of correcting any title problems if they would happen to get discovered after the sale. Title companies may refuse to insure a clouded title to be transferred, so it's important to know about any potential issues as soon as possible. Now there are two types of title insurance. There is lender's title insurance and owner's title insurance. First, lenders title insurance. In most areas of the country, the mortgage lender requires that the property buyer purchase a lender title insurance policy to protect the lender's security interest in the real estate. Lender's title insurance is issued in the amount of the mortgage loan and the amount of coverage decreases and finally disappears as the mortgage loan is paid off. And then secondly, owner's title insurance. It protects the homebuyers interest and is normally issued in the amount of the purchase price of the property. Coverage means that the insurer will pay all valid claims on the title as insured, and in most real estate transactions, separate title policies are purchased for the lender and the buyer, and although it can vary by location, the buyer typically purchases the policy for the lender, whereas the seller often pays for the policy for the buyer.   Keith Weinhold (00:19:12) - And that's title insurance, if you like. Simple to the point education by video like that, and you'd want to get a really good look at me for some inexplicable reason. Uh, for more, check out the new explained series. It is now on our get Rich education YouTube channel or next. I'm Keith Reinhold, you're listening to get Rich education. Render this a specific expert with income property you need. Ridge lending Group Nmls 42056. In gray history, from beginners to veterans, they provided our listeners with more mortgages than anyone. It's where I get my own loans for single family rentals up to four Plex's. Start your pre-qualification and chat with President Charlie Ridge personally. They'll even customize a plan tailored to you for growing your portfolio. Start at Ridge Lending group.com Ridge lending group.com. You know, I'll just tell you, for the most passive part of my real estate investing, personally, I put my own dollars with Freedom Family Investments because their funds pay me a stream of regular cash flow in returns are better than a bank savings account up to 12%.   Keith Weinhold (00:20:35) - Their minimums are as low as 25 K. You don't even need to be accredited for some of them. It's all backed by real estate and that kind of love. How the tax benefit of doing this can offset capital gains and your W-2 jobs income. And they've always given me exactly their stated return paid on time. So it's steady income, no surprises while I'm sleeping or just doing the things I love. For a little insider tip, I've invested in their power fund to get going on that text family to 66866. Oh, and this isn't a solicitation. If you want to invest where I do, just go ahead and text family to six, six eight, six, six.   Speaker 4 (00:21:21) - Anybody? It's Robert Elms with a Real Estate Guys radio program. So glad you found Keith White old and get rich education. Don't quit your day dream.   Keith Weinhold (00:21:40) - Hey. Well, I'd like to welcome in someone that you might have met by now. That is one of our terrific investment coaches. Narration. The race. Hey, welcome back onto the show.   Naresh Vissa (00:21:49) - Keith. It's a pleasure to be back on race.   Keith Weinhold (00:21:52) - I know you've got mortgage rates on your mind. It's been such an interesting topic lately, since they peaked at about 8% back in October of 2023, and almost everyone this year anticipates that now that embedded inflation is lower, that rates of all types are going to fall, rates in inflation are typically correlated. And why don't you talk to us with your thoughts about where mortgage rates are currently and where they go from here?   Naresh Vissa (00:22:19) - Like you said, mortgage rates peaked around October. The fed did their last rate hike in July 2023, so that's why the lagging effect caused rates to rise a little. And then they've been slowly creeping down since October. And what does that mean? Or where do we go from here in this new year 2024? I've been pretty spot on with what the Fed's going to do. I think they made some mistakes. I think they should have done 2 or 3 more 25 basis point hikes in 2023 because we're seeing inflation creep back up.   Naresh Vissa (00:22:54) - And that's a huge problem for the fed because their target is 2%. But that's a completely different topic. We get Monday morning quarterback the fed all we want. The fed has essentially come out and said that their rate hiking campaign is over. They've hiked enough and it's a take it or leave it. They're just going to hold and hold and hold until inflation reaches that 2% target. So what does that mean for mortgage rates? If we know that the fed isn't going to raise rates anymore, that means we are. We've already seen it. Mortgage rates have slowly creeped down. And there is a legitimate chance that the inflation rate that the CPI hits 2% by this summer, there is a chance of that. Right now we're at 3.3 or 3.4%, but there is a good chance that by the end of this summer, let's say August, we hit that 2% target, which means the fed will immediately start cutting rates after that whenever the next meeting is, I think September 2024, they'll start cutting rates, which means that's going to have an effect on mortgage rates.   Naresh Vissa (00:24:00) - We can see mortgage rates plummet even more later this year going into 2025. Now, this is just a prediction. There's a chance that inflation could go up if there is a middle East crisis or World War three or whatever you want to call it, there's a chance that inflation spikes back up and the fed just they could hold rates where they are for two years. I don't have a crystal ball in front of me. There was a black swan event that happened in 2020. Obviously, there could be a black swan event that happens in 2024. We won't know. But what we do know is the fed is done hiking rates and they're going to hold as long as possible until we get to that 2% inflation target. What does that mean for real estate? If mortgage rates are going back down, you're getting a better deal today than you were in October 2023 or November 2023. So it's almost 100 basis points lower from the peak that we saw in October. So interest rates have gone down. They've somewhat normalized to a level that digestible for investors, still not quite digestible for the average homeowner.   Naresh Vissa (00:25:08) - And the best part about this, Keith, is that the providers who we work with are still offering amazing incentives, the same amazing incentives, if not better, with the lower interest rates. So previously we brought up a 5.75% interest rate incentive program, one year free property management, another program that was two two for two years of free property management, 2% closing cost credit, $4,000 property management credit, all sorts of incentives. And those incentives are still in play while interest rates have gone down. So instead of 5.75% incentive that these providers are offering, they're now offering 4.5% interest rate. So that's why I think if there were no incentives, hey, you know what? We should probably wait until the fed starts cutting again. But with these incentives, this is incredible because they're going to be gone again the moment the fed starts cutting aggressively. These incentives are all gone. So you may as well get in. Now when home values have somewhat corrected and some markets are seeing precipitous declines, home value declines, real estate declines.   Naresh Vissa (00:26:20) - So right now it's still an excellent time to invest. Given this economic landscape.   Keith Weinhold (00:26:26) - Gray listeners are pretty savvy. And you the listener, you realize that changes in the fed funds rate don't have a direct change, and they don't move in lockstep with the 30 year fixed rate mortgages. The fed has really loaded up with the fed funds rate near 5%. Now they basically have a whole lot of ammo in the cartridge where they can go ahead and lower rates if the economy begins to get into trouble. One reason mortgage rates are higher than other long term rates is that US mortgages can be prepaid without any penalty. The anomaly in what's been different and what's been happening here is that typically there's a spread of about 1.75% between the ten year note, which has been 4% or so recently. And the 30 year mortgage rate is about 1.75% higher, which. She would put it at 5.75, but instead mortgage rates have been almost 7%. So a greater than usual historic spread between the ten year teno, which is more what mortgage rates are based off of and what that rate actually is, and the reason that that spread has been so high as this perceived greater credit risk or anticipated economic changes like this recession that is always just perpetually around the corner.   Keith Weinhold (00:27:44) - So we don't really know where mortgage rates are going to go. We know that they're not high. They're actually below their long term average. But of course, they just feel high because the only thing that was unusual is the rate at which they've increased. With that in mind here as we talk about mortgage rates nowadays. Why don't you tell us more about the incentives that are being offered right now?   Naresh Vissa (00:28:03) - The incentives are still being offered. The question is, Keith, I want to share two different strategies or two different markets. It's kind of a mix of strategy and market. The two most popular markets we are seeing right now are in Memphis, Tennessee, and in Florida. Still, Florida continues to be hot. Why is that? Why these two markets? Well, number one, Memphis still has a lot of rehab properties that you can purchase in the 100 to $150,000 range. Before the pandemic, it was common to see properties selling for 60 to $80,000. Those properties are a dime a dozen now, because of what we've already talked about the inflation, the home values, rising real estate going up.   Naresh Vissa (00:28:51) - Memphis still offers those options. Now we work with a provider in Memphis who specializes in the BR method, the B or R r. So it's for cause the BR.   Keith Weinhold (00:29:04) - It's not the February temperatures. BR yes.   Naresh Vissa (00:29:07) - Yeah. It's not the February temperatures. It stands for you buy rehab rent then you refinance and then you repeat it with the next property. So buy rehab rent refinance repeat. So this is a little different from your traditional real estate investing where you're just buying. It's already rehabbed. So you're buying renting it out. And then end of story here. It's a strategy that is meant to build equity. Almost immediately. You rehab it. And look we're not going to get into the details of this right now. I highly recommend that, folks, they can go to the GRE marketplace and set up a meeting with me if they want to talk some more about BR or if their experience and they know about BR, they may not know that we offer BR properties. But our investors have loved Memphis, BR.   Naresh Vissa (00:30:02) - They have loved it. They have bought more and more is one of our hottest asset classes or strategies right now. Memphis BR so highly recommend it. What are the incentives? There actually no incentives that our Memphis, BR provider is offering, because the incentive of the BR strategy is enough to get people to keep buying. They keep getting inventory, they don't run out. They find ways to make it work. Now in Florida, we work with a provider who we've featured on this show a couple of times before, and they're owned by the largest Japanese real estate developer called Sumitomo Forestry. They're one of the largest Japanese companies in the world. Warren Buffett owns a huge stake, Berkshire Hathaway in Sumitomo. So I highly recommend this Florida provider because they're able to offer properties that values that other providers can't compete with at prices that other providers can't compete with. They're offering the incentives that I told you, the 4.5% program, in some cases, you can buy down the rate all the way down to 4.25% if you want.   Naresh Vissa (00:31:10) - They have two years free property management or one year free property. It just depends on the package that you choose. They're offering closing cost credits. You can negotiate the list price. These are the two most popular partners we are currently working with, and I highly recommend if you are liking this real estate market, you're seeing lower interest rates. You're seeing that there's been a correction in home values and you want to get in right now. Contact your investment coach. If you don't have an investment coach, go to the marketplace. You can select me if you want, or you can select the other investment coach Andrea, it's up to you and we can share more information.   Keith Weinhold (00:31:52) - You're talking about two different strategies here, the Memphis BR and the Florida Newbuild. And I think of the Memphis burger is something that's lower cost. It's for an investor with a more aggressive disposition where it will take some of your involvement, even though it's still only going to be remote involvement. And then on the flip side, with the Florida new build, you're going to benefit from those low bought down rates that the builder will buy down for you.   Keith Weinhold (00:32:16) - The longer you plan to hold the property, the more the rate buy down is going to benefit you. And then also think of the Florida new build is kind of being a low noise investment.   Naresh Vissa (00:32:29) - You're absolutely correct, Keith. So I highly recommend those who are sitting on the fence. I've come on this podcast before and said, hey, Keith, you know, right now I'm not really sure where things are going. Like it's a little dead. Maybe investors should hold off.   Keith Weinhold (00:32:44) - Yeah, back in November, that was your guidance?   Naresh Vissa (00:32:46) - Yep. That was. And now I think because we've seen the lower interest rates, you can just get in at a much better deal. Everyone can be happy. I think our investors would be happy. And it's a great time to start investing in real estate again. Don't put it off. I remember when I first got into real estate, I was putting it off, putting it off, and I look back and I say, man, I should have gotten in four years earlier or five years earlier.   Keith Weinhold (00:33:13) - How many properties do you think it took for you to buy until it changed your life? For me, it was probably when I bought my second fourplex and I had eight units. But I think if you're buying single family homes, it takes probably fewer units than that to really start changing your life.   Naresh Vissa (00:33:30) - Yeah, one units aren't going to change your life. Two units aren't going to change your life. In my case, it's just a personal story. I bought one the first year, another one the second year, and then my third year I scaled from 2 to 7. That was the life changing experience right there. And the last two properties I bought were new construction. So number seven and number eight were new constructions. And that also changed my strategy too, because I said, hey, new construction is just so much better than these older rehab properties, just less headache. We've talked about this before on previous episodes, and so moving forward, I'm actually saving up right now to buy my next new construction property.   Naresh Vissa (00:34:13) - New construction. Me personally, I think that's a way to go, there's no doubt about it. And because I went from 2 to 7, that was the game changer for me, at least on the taxes on the passive cash flow. And look, I'm relatively young. I'm in my mid 30s. But when I think about retirement, which I don't think about much, but sometimes I do, and when I do think about it, I'm like these eight properties, if I hold on to them, that's a nice retirement that I have in retirement. That's a great passive cash flow. By then the mortgages will be paid off. Although we believe in refi til you die. Just to get a little more specific about some of these incentives, I'm looking at the Florida ones right in front of me. Option one, for example, is a 4.25% interest rate. That's where the buy down the 2.75% buyer paid point buy down. But it comes with two years of free property management. I think the best deal if you want zero buy down it's two years of free property management seller paid closing costs of 1.5%.   Naresh Vissa (00:35:19) - So that's a 1.5% closing cost credit and a 5.75% interest rate that you'll be locked into. I think that's a pretty darn good deal.   Keith Weinhold (00:35:30) - There are some attractive options there. Yeah. It's interesting you raised when you talk about how many properties does it take to change one's life. Yeah. You're right. When you buy your first property, your second property, it isn't life changing. You probably haven't own property long enough yet to benefit from leverage, and surely not cash flow just off 1 or 2 properties. But what happens is you accumulate more is sometimes you don't have to use and save up your own money to buy a new property. You might want to do that, but at the same time, the properties that you bought a few years ago have built up enough equity. So now that rather than your money buying new properties, it's like your properties, buy your new properties for you as you do these cash out refinances. And that's where you really get things rolling. So it can take a few properties and a few years.   Keith Weinhold (00:36:16) - But nowadays you're so right about the opportunity really being with New Build. Today I'm a guest on other shows and a lot of people are just an economics host. They think about real estate investing, they think about higher mortgage rates, and they're like, you know, where's the opportunity for an investor today? And that's usually what I tell him. It's with these builder rate buy downs on new build properties. Take advantage of that this year.   Naresh Vissa (00:36:38) - Absolutely. So like I said great marketplace. You can get more information set up meetings with Andrea or me or whoever you're assigned investment coaches. If you don't have an assigned investment coach, take your pick and let's get your real estate investment journey either started or on cruise control.   Keith Weinhold (00:36:57) - If you have any last thoughts, whether that's this year's direction of prices or rents or the economy as it relates to real estate or anything else at all.   Naresh Vissa (00:37:07) - Well, Keith, I think we're about to see and we don't get political on here, but for whatever reason, we tend to see crazy financial markets during election years, whether it's presidential elections or midterm elections.   Naresh Vissa (00:37:22) - We saw the stock market drop wildly in 2022 during a midterm election year. Of course, 2020 will never forget the craziness of lockdowns and masking and social distancing and what the financial markets did. I mean, all the at least the stock market. President Trump lost all the gains that he had in the stock market as president, were lost in over a two month period in February and March 2020 because of pandemic. And then they came surging back. So the point that I'm making here is economically, I shared my vision of just systematically, I think inflation is going to hit the 2% by the end of the summer. The experts initially thought it would hit the 2% by March. In the latest CPI reading showed that inflation actually went up. I think we're going to see some type of, I don't want to call it a black swan, but this year is not going to go according to plan. Maybe the inflation plummets because something deflationary happens. Or maybe the inflation rises again because something inflationary happens. That's just not on our radar.   Naresh Vissa (00:38:30) - So how does that affect real estate. Well that doesn't change what we said five minutes ago, which is right now, today. Given all this uncertainty, today is still a great time to jump in, because if there is a deflationary event, you can always refinance your rate in a year or two when rates are much lower. And remember, mortgage rates are tax deductible.   Keith Weinhold (00:38:54) - A presidential election year brings more uncertainty than usual. You can buffer yourself from that volatility with real estate and investment that's more stable than most anything else out there. I encourage you, the listener, to check out Naresh and the other coach, Andrea at Great Marketplace, and it can really help you out and help you put a plan together. Hey, it's been great having your thoughts. I think the listeners are going to find this helpful. Thanks for sharing your expertise. Thanks, Keith. Yeah, there's some valuable guidance from Naresh on where the real deals are in this market today. Memphis Bears and Florida, new builds. They're really just two of the dozens of options from Gray's nationwide provider network.   Keith Weinhold (00:39:44) - Learn more, see all the markets or connect with a coach all at Gray marketplace.com. Enjoy the Super Bowl I'm Keith Weinhold. Don't quit your Daydream.   Speaker 6 (00:39:59) - Nothing on this show should be considered specific, personal or professional advice. Please consult an appropriate tax, legal, real estate, financial or business professional for individualized advice. Opinions of guests are their own. Information is not guaranteed. All investment strategies have the potential for profit or loss. The host is operating on behalf of get Rich education LLC exclusively.   Speaker 7 (00:40:27) - The preceding program was brought to you by your home for wealth building. Get rich education.com.

Naresh discusses China's behind the scenes takeover of America. --- Send in a voice message: https://podcasters.spotify.com/pod/show/chris-howk/message Support this podcast: https://podcasters.spotify.com/pod/show/chris-howk/support

Join our free Florida income properties webinar, tonight, Monday, November 27th for 5.75% mortgage rates at: GREwebinars.com Today's topics: Conventional financial advice is God-awful; tertiary real estate markets; I've got a solution to guilt tipping; whether or not the world is uncertain and unsafe. Conventional financial advice is so bad. I attack the practices of setting budget alerts and paying off your smallest debts first.  Don't roll a debt snowball; roll a cash flow snowball. In the past five years, tertiary markets are beginning to exhibit the rent stability of larger markets. Guilt tipping is out of control. Learn my elegant solution. You'll never pay a guilt tip again. It seems like the world is increasingly uncertain and unsafe. It isn't. I talk about why it only seems this way. Timestamps: The limitations of budgeting (00:02:43) Discussion on the drawbacks of using budgeting platforms and how they reinforce scarcity thinking. The debt snowball concept (00:05:09) Explanation of the debt snowball method of debt paydown and why it is not aligned with an abundance mindset. Investing in tertiary real estate markets (00:09:43) Exploration of the emerging bullish case for investing in smaller, tertiary real estate markets and their stability compared to larger markets. Tertiary Real Estate Markets (00:10:56) Discussion of the advantages and objections to investing in smaller tertiary real estate markets. Increasing Investor Appetite in Smaller Markets (00:12:02) Exploration of the growing interest and sales volumes in tertiary real estate markets. Guilt Tipping and a Solution (00:20:16) Explanation of guilt tipping and a proposed solution to avoid feeling pressured to leave a tip when making digital payments. Guilt Tipping and the Increasing Expectations (00:21:20) Discussion on the rise of tipping expectations and the use of digital payment prompts to ask for tips. The Problem with Guilt Tipping and the Inconvenience of Undoing Tips (00:23:45) Exploration of the annoyance of guilt tipping and the difficulty of undoing tips after poor service. The Solution: Paying Cash to Avoid Guilt Tipping (00:31:18) Suggestion to pay with cash as an elegant solution to circumvent guilt tipping and ignore electronic payment terminals. The Uncertainty of the World (00:32:25) Discusses how uncertainty has always existed and how waiting for complete clarity can hinder investment decisions. Disasters and Uncertainty (00:33:47) Lists various disasters and events that have occurred in the US, highlighting the constant presence of uncertainty and the relative sense of certainty and safety today. The Ultra Safety of American Society (00:36:13) Examines how society has become ultra safe, discussing the term "safetyism" and providing examples of excessive safety measures. Resources mentioned: Show Notes: GetRichEducation.com/477 Join our Florida properties webinar, free,  Nov. 27th at 8:30 PM ET at: www.GREwebinars.com For access to properties or free help with a GRE Investment Coach, start here: GREmarketplace.com Get mortgage loans for investment property: RidgeLendingGroup.com or call 855-74-RIDGE  or e-mail: info@RidgeLendingGroup.com Invest with Freedom Family Investments.  You get paid first: Text FAMILY to 66866 Will you please leave a review for the show? I'd be grateful. Search “how to leave an Apple Podcasts review”  Top Properties & Providers: GREmarketplace.com GRE Free Investment Coaching: GREmarketplace.com/Coach Best Financial Education: GetRichEducation.com Get our wealth-building newsletter free— text ‘GRE' to 66866 Our YouTube Channel: www.youtube.com/c/GetRichEducation Follow us on Instagram: @getricheducation Keith's personal Instagram: @keithweinhold   Complete Episode Transcript:   Keith Weinhold (00:00:01) - Welcome to I'm your host, Keith Weinhold, with a rant on how conventional financial advice is so terribly god awful an outlook for tertiary real estate markets, then? Are you getting worn down from guilt tipping? I've got a proven solution on how you'll never pay a guilt trip to a business again. And finally, how do you arrange your investing in personal finances in a world that's uncertain and unsafe? All today on get Rich education? When you want the best real estate and finance info, the modern internet experience limits your free articles access, and it's replete with paywalls. And you've got pop ups and push notifications and cookies. Disclaimers. Oh, at no other time in history has it been more vital to place nice, clean, free content into your hands that actually adds no hype value to your life? See, this is the golden age of quality newsletters, and I write every word of hours myself. It's got a dash of humor and it's to the point to get the letter. It couldn't be more simple text to six, 6866.   Keith Weinhold (00:01:15) - And when you start the free newsletter, you'll also get my one hour fast real estate course completely free. It's called the Don't Quit Your Day dream letter and it wires your mind for wealth. Make sure you read it, text GRE to 66866. Text  GRE to 66866.   Speaker 2 (00:01:40) - You're listening to the show that has created more financial freedom than nearly any show in the world. This is get rich education.   Keith Weinhold (00:01:56) - Welcome from Los Angeles, California, to Las Cruces, New Mexico, and across 188 nations worldwide. I'm Keith Wayne holding. This is get rich education. When you pay for a low level service item like a Chipotle burrito, and another human is looking at you to see if you leave a 20% tip on a digital payment terminal, does that make you feel uncomfortable? Well, now you're being asked to. Guilt tip I've got a foolproof way on how to never get put in that situation again. That I'll share with you later here. You know, sometimes you just hear something that triggers a rant. I recently heard an ad for a digital platform that helps you manage your finances.   Keith Weinhold (00:02:43) - And what an awful, in scarcity minded way of thinking this reinforces. But this is actually what mainstream financial guidance looks like. All right, it was an ad for a digital platform trying to attract you there. And here's basically how it works. You set up your account. Then based on your income and expenses, you set up your budget. And as you know, that is a bad word around here, a budget. It's not how you want to live long term. All right. Then, when you're close to hitting your spending budget for the month or whatever, this platform triggers a budget alert. Are you kidding me? You get emailed a budget alert. How convenient. Oh, geez. So much for living an aspirational life by design. What a dreadful idea. Like someone that really wants more out of life would actually take effort to set up something like that. You would be building an architecture to establish life patterns that completely say, I think that money is a scarce resource. Now, in the short term, you've got to do what you've got to do, which might mean living below your means for a little while.   Keith Weinhold (00:03:55) - But in a world of abundance, delayed gratification should be a short term notion for you. I think that this type of platform that centered around stupid budget alerts is so limiting. Gosh, you've got to feel cheap just saying that out loud a budget alert. But anyway, that sounds conducive to this concept of scarcity based finance called a debt snowball that you can read about the debt snowball on Investopedia. But the debt snowball, that's basically how you pay off your debt with the smallest balance first, not the highest interest rate, but yes, the smallest principal balance it would have basically says is in the first step, what you're supposed to do is list your debts from smallest to largest, and that's regardless of interest rate, just smallest to largest based on the amount. And then the next step is that you make minimum payments on all of your debts except the smallest one, because you pay as much as possible on your smallest debt. And then the last step is you're supposed to just go ahead and repeat that until each debt is paid in full.   Keith Weinhold (00:05:09) - That's the debt snowball. So according to that, why do they say to disregard the interest rate, which is your cost of capital? Because they say that when you pay off the smallest debt super quick, that you're going to be jumping up and down with excitement, and that is going to motivate you to keep working hard to get debt free. They say that hope is more important than math. That's the school of thought. And along the way you should lower your expenses, cut spending, work hard and add a side hustle where you can. Oh my gosh, that is all congruent with this debt snowball concept that we sure do not endorse here at. I mean, that is 100% orthogonal to the world of abundance that we believe in. So often on your high interest rate debt. What you would do then is you'd make the minimum payments with this debt snowball, and then you focus it all on your smallest debt amount, regardless of interest rate. You've heard that right? And it even advocates that you stop investing and just focus on that smallest debt amount, even if it's a low interest rate.   Keith Weinhold (00:06:22) - That makes no sense. If you've decided that debt paydown is the best allocation of your first expendable dollar. All right, even if that were a yes, then in most cases you'd want to pay down the highest interest rate independent of the total principal balance on each of your debts. I mean, that's arbitrage, but they even bigger question for you, almost existential in nature is why is the best way to allocate your first expendable dollar on debt? Paydown. And. Any way it's or that. First, because one of the first places to look is how you can leverage that dollar 4 to 1 or 5 to 1 as long as you've controlled cash flows. Now, sometimes there are instances where you'd want to pay down debt before investing, certainly like a 20% Apr credit card debt, that could be one such place. So could retiring a debt to help your DTI, your debt to income ratio so that you can originate a new business loan or a new real estate loan first? All right, you might do thatrillionegardless of the interest rate on a loan.   Keith Weinhold (00:07:30) - But my gosh, if we want to stick with the snowball analogy, since we're a few days from December here, instead of trying to push a debt snowball up a hill to start rolling a cash flow snowball down a hill, when you buy an asset that pays you a monthly income stream to own it, that is constructive. Compounding your cash flows beats compounding your debt paid out. Instead of trying to push a debt snowball up a hill because you're cutting your one and only quality of life down. Instead, start rolling a cash flow snowball down a hill, and now you've got gravity working with you in the right way. That is the end of my rent. Hey, maybe I just feel like complaining a bit. My Jim was playing Phil Collins and Elton John all weekend, so maybe that's a kind of what in the world kind of mood that had generated in me, I don't know. And hey, nothing wrong with Phil Collins and Elton John. I mean, those guys are truly talented singers, 100%.   Keith Weinhold (00:08:28) - I just don't want to be working out to those guys. Michael Bolton, George Michael that's not motivating me to hit 20 burpees. Okay. Hey, well, I hope that you were set up for a great week. Be sure that part of it is that you are signed up for our live event tonight for 5.75% mortgage rates on Florida Income property@webinars.com. Now, whether you're looking at investment property in Florida or most any of the other 49 US states, there's a really nascent and interesting development that's been taking place for at least five years now. And that is what's happening in tertiary markets, smaller markets. I'll define tertiary a bit more shortly, but we're talking about metro statistical areas, MSAs that are probably not under 100,000 population, not that small. From a rent growth perspective. What's happened is that over the last five years, tertiary markets have had similar patterns to bigger markets. And historically, these smaller markets have been more erratic. But in rent growth terms, tertiary markets have stabilized. Now, a primary market is something like New York City or Chicago, a secondary market.   Keith Weinhold (00:09:43) - You might think of that as a little Rock, Arkansas, where it's under a million in size, and then a tertiary market that's going to be somewhat discretionary. But we're talking about a population of 100 K up to, say, 300 K. And what's noteworthy is that there are now more analysts and investors that are bullish on vibrant tertiary markets. So let's talk about why this is happening. I think there's an emerging bull case for overcoming some of the historical roadblocks to tertiary market investments in a diversified multifamily or single family rental portfolio. And one classical objection is that tertiary real estate markets are too volatile. Historically, we perceive smaller markets as more volatile. Yes, and some surely are. But over these last five years, markets outside the top 50 in size were regularly more consistent. Okay. They avoided rent cuts in 2020. They recorded sizable but less lawfully rent hikes in 2021 and 2022. And now they remain moderately positive in 2023, even as larger markets have kind of flattened out in the rent growth.   Keith Weinhold (00:10:56) - And of course, we're talking about a composite group of tertiary markets here. Some are more stable than others. You got to watch those local trends as always, of course. And you know, classically a second objection with these smaller markets is that, well, it's too easy to add a lot of supply. And yes, that is sometimes true and sometimes it's not. Indeed, there are a handful of small markets that are building like crazy, like Sioux Falls, South Dakota in Huntsville, Alabama. But as a group, the construction rate in what that is is the total units under construction divided by the total existing market, that is 5% in large markets versus the construction rate of just 4% in small markets. See, it can be harder to build in certain small markets due to NIMBYism or a lack of debt availability, especially if local banks aren't interested in the check size needed for construction loans. It can also be harder to build in certain small markets due to a lack. Of equity because it's a tougher sell to ask investors in a syndication to bet on a market that they don't have a lot of knowledge of.   Keith Weinhold (00:12:02) - Another objection to these tertiary markets is that small markets are not liquid. Since 2019, sales volumes in dollars going into tertiary markets has doubled. Investor appetite has definitely increased in smaller markets. And that's particularly true among these traditional regional investors that are looking for better yield as the larger cities got pricier. So good small markets, you know, a lot of them really are not secrets anymore. And there's only one more objection to these tertiary real estate markets and that it is harder to scale operations. And yes, there is always benefit in efficiency of scale. But, you know, it's certainly been getting easier with better technology today. Investors can always work with top local property managers. And for investment property owners or managers, they often target small markets adjacent to larger markets where they have a bigger presence. So some other considerations before you as an investor go deep in one of these smaller tertiary markets is you want to be choosy in your market and in your site selection. Look for small markets that have multiple drivers.   Keith Weinhold (00:13:13) - You don't just want these one trick ponies. You know, I've discussed with you before about how markets that are heavily focused on commodities or heavily focused on military, they are not favorable because those two sectors, for example, commodities and military, are just pretty volatile. Look for growth or steady markets, lots of small markets. They continue to grow at a pretty healthy clip. And you want to look for markets with an absence of new product. Now why don't I name a few tertiary markets so that you can get a better idea of this. So about 100 K to 300 K in population size. Not that these next ones are necessarily good or bad markets. It's just for size comparison. I'm thinking about Ocala, Florida and Shreveport, Louisiana. You know those two. They're almost getting too big. They're almost secondary markets Wilmington, North Carolina at 300 K. That's a tertiary market. So are Akron and Canton, Ohio Dayton. That's pretty tertiary, but it's also close to Cincinnati. So you got a little more safety in Dayton.   Keith Weinhold (00:14:20) - Toledo is secondary. Burlington, Vermont is tertiary. Bellingham, Washington is tertiary. Yuma and Flagstaff, Arizona are both tertiary. Yes. We're talking about the stability in rents in tertiary real estate markets. Conventionally. You know, in the past, I've said that MSAs of 500 K population or more, that's pretty much where you want to be. But anymore, with the rise of remote work after 2019, it's really making some of these smaller tertiary markets more palatable to real estate investors and something that you probably want to consider. So really, that's the takeaway for you here and say this is the kind of stuff that really plays into my interests as a geography guy. See, I'm a real estate guy, but I might be the most geography interested real estate guy out there. Geography is something that I really love, though I could I don't share too much geography here on a real estate show. Sometimes it's relevant because both geography and real estate are location, location, location, but sometimes it's less relevant.   Keith Weinhold (00:15:25) - For example, North America's longest river is not the Mississippi, it's the Missouri River. The New York City metro area is so populated that more than one in every 18 Americans live there. That's almost 6% of the entire American population. See, some of this is more trivial or of general interest than it is relevant to real estate. Although you could learn some geography from me. Do you know the closest US state to Africa? If you draw a straight line, the closest state to Africa is not Florida or North Carolina. It is Maine. Look on a globe. Part of the reason that Maine is the closest state is that Africa is primarily in the Northern Hemisphere, not the southern, contrary to popular belief, and to look at a different continent. The entirety of South America is east of Jacksonville, Florida. Here's one more piece of geography. Canada's beautiful and mountainous Yukon Territory is larger than California, yet California has more than 900 times the population of the entire Yukon. Yes, the giant Yukon has less than 45,000 people.   Keith Weinhold (00:16:39) - It is the practice of guilt tipping out of control. And how do you respond to our world that seems to be increasingly unsafe and uncertain. That's coming up next. They say, if you give a man a fish you have fed him for. Or a day. But if you teach them to fish, you have fed him for a lifetime. Well, here at gray, we do both. I'm not talking about both in terms of men and women, but we teach you how to fish and give you a fish. Get rich. Education is where we teach you how to fish. With this show, with our blog and newsletter and videos, we also give you a fish. That's it. Gray marketplace. It's one of the few places you'll find affordable, available properties that are good quality there at marketplace. They're all conducive to our strategy of real estate pays five ways I'm Keith Wild. You're listening to get Rich education. Jerry listeners can't stop talking about their service from Rich lending group and MLS. For 256.   Keith Weinhold (00:17:45) - They've provided our tribe with more loans than anyone. They're truly a top lender for beginners and veterans. It's where I go to get my own loans for single family rental property up to four plex. So start your pre-qualification and you can chat with President Charlie Ridge. Personally, though, even deliver your custom plan for growing your real estate portfolio. Start at Ridge Lending Group. You know, I'll just tell you, for the most passive part of my real estate investing, personally, I put my own dollars with Freedom Family Investments because their funds pay me a stream of regular cash flow in returns are better than a bank savings account up to 12%. Their minimums are as low as 25 K. You don't even need to be accredited for some of them. It's all backed by real estate, and I kind of love how the tax benefit of doing this can offset capital gains in your W-2 jobs income, and they've always given me exactly their stated return paid on time. So it's steady income, no surprises while I'm sleeping or just doing the things I love.   Keith Weinhold (00:18:55) - For a little insider tip, I've invested in their power fund to get going on that text family to 66866. Oh, and this isn't a solicitation. If you want to invest where I do, just go ahead and text family to 66866.   Speaker 3 (00:19:16) - This is real estate investment coach Naresh Vissa. Don't live below your means. Grow your needs. Listen to get rich education with Keith Weinhold.   Keith Weinhold (00:19:34) - Welcome back. I'm your host, Keith Weinhold. There will only ever be one great podcast. Episode 477. And you're listening to it perhaps on one third of our episodes. Throughout the show's history, there is no guest. It's 100% me, a slack jawed monologue like it is today, and lots of great Jerry episodes coming up in the future, including Robert Helms other real estate guys here soon as he runs alongside me for an episode as we discuss goals. If you get value from and you don't want to miss any future episodes, be sure to hit subscribe or follow on your favorite podcast platform so that you're sure to hear from me again after today.   Keith Weinhold (00:20:16) - Is guilt tipping out of control? We have all felt it now. Does this happen to you today when you're about to pay the Starbucks barista or for the subway sandwich and they spin the digital payment terminal around toward you and say, it's just going to ask you a question before you pay. And then they stand there and they look at you in the face and they watch what you choose. All right. Does that right there give you a tinge of anxiety or even stress you out? Well, if you give in to that, that is called guilt tipping. And you know what? I've got a solution to guilt tipping. A simple and elegant way that I'm going to share with you so that you never have to see a payment terminal like this in your face again, that asks you for a tip when you're out shopping or dining and paying for something. Yes, I've got a proven solution for how you'll never even be asked to leave a guilt tip again because I tested it and mastered it. It works.   Keith Weinhold (00:21:20) - We even have an unverified report on Reddit of a self-serve digital kiosk now even asking you for a tip. What? I mean, how far will this go? Yes, like a self-checkout for your own groceries at a supermarket like Giant or Safeway? First, let's get some context about why this is so important to you in the first place and how bad it's getting. It might even be worse than what you're thinking here. All right, a new study from Pew Research. It found that 72% of people said that the long standing practice of tipping is now expected in more places than it was five years ago. My reaction to that stat is what? How is it not 100% of people saying that it's happening all over the place, and consumers like you and I are increasingly getting tired of it? The way it works is that today's digital payment prompts, they allow businesses to preset suggested tip levels, so it's easier than ever for them to ask for tips and companies that have not done so in the past. They are definitely doing it now rather than giving employees a raise.   Keith Weinhold (00:22:35) - Instead, they're asking you to supplement the employee wage by asking you for tips where they didn't before. Must you fight back like David Horowitz, if you're uninitiated on that? I learned about a popular show that apparently ran on prime time network television in the 1980s. The show was called Fight Back with David Horowitz, and it advocated for how consumers can fight back against unscrupulous business practices. In fact, let's listen into the cornball intro of this show, which your parents might remember. It's something about fight back. Don't let businesses push you around.   Speaker UU (00:23:20) - But don't let anyone push you around. Fine, but stand up and hold your ground. I got. Someone tries to you in. Five spot. Just.   Speaker 4 (00:23:44) - Oh, jeez. Yeah.   Keith Weinhold (00:23:45) - Fight back against guilt tipping, I suppose. See, a few years back, the reason that you began getting asked to leave a tip in places you hadn't before. That's because it was a way for you to provide a gratuity for service workers. Because you were supposed to have appreciated that they showed up during the health crisis when a lot of workers did not want to show up.   Keith Weinhold (00:24:09) - But now that the crisis appears largely over with, the tip requests have not gone away. They've gotten worse because by now companies see what they can get away with. Now, look, people don't want to feel like a jerk or a cheapskate. You don't. I don't, but businesses are taking advantage of that fact by making bigger than usual tips. The default option on these payment terminals. It really that's the crux of the annoyance. Say that you're given choices of 20, 25, or 30% on a payment terminal just for someone handing you a pre-made sandwich that's already wrapped in cellophane. I've had it happen to me, and then hoping that you will just go ahead and pay the extra amount, rather than hassling with clicking custom tip and entering a smaller number like 10% or zero. Understand something here. The business call it a sandwich shop. They're not the ones that always decide what tip options you're presented with. Did you know that because the companies that own the payment systems, they can earn a cut of your money from each transaction? Those payment system companies, they also have an incentive to increase those amounts as much as possible, not just the sandwich shop, but they are both complicit in this scheme together.   Keith Weinhold (00:25:37) - But now sometimes you get asked to leave a tip beforehand before you're even delivered any good or service. And see, that's getting awkward too. And see the fear of that you and I should have. Now is that in this case, as the customer, as the client, you are going to get punished if you leave a low tip before they deliver the service to you. See, that's another big problem here with guilt tipping. Now, traditionally, tips were thought of as a way to reward good service after you already received what you paid for, right? That's how it works. You pay your server after a meal, you pay your valet. After they bring you your car. You pay the tour guide after your volcano hike or snorkel tour. If you thought that they did a good job. Now, just the other day at a chain fast casual Mexican restaurant that you've certainly heard of, I was being rung up about $35 for two double steak burritos, and there's a lower service level there than a full sit down restaurant.   Keith Weinhold (00:26:44) - But I left a 10% tip at the counter on that day. I thought they put lots of steak on them. And then I walked my burritos to the tables and the tables were messy. I could not find a clean table anywhere, but I had already left the tip. It was too late, so I left the tip and then only later did I discover the poor service, the messy tables. Oh gosh, I wasn't going to go back and try to undo the tip, huh? Before I tell you about my elegant solution so that you can forever avoid guilt tipping. So let's understand just where are Americans tipping today? The situations when people add a gratuity. You know, this really offers some insight into the new tipping landscape. And again, this is according to Pew Research for dining at sit down restaurants, 92% of people are tipping there. And of note, a majority said that they would tip 15% or less for an average sit down meal. That kind of surprised me, because etiquette experts say the tipping 20% at a full service restaurant is standard now, and that's what I do.   Keith Weinhold (00:27:48) - Okay, getting a haircut 78% of people tip today. Having food delivered 76% for those using a taxi or rideshare service like Uber, 61% of people said that they would tip. I tip for all those things. Buying coffee. Only 25% of people leave tips and eating at fast casual restaurants only 12%. So look, people are upset because we've had years of high consumer price inflation and service inflation on top of that. And then a tip on top of that. Yeah. So it's tip relation on top of inflation. And then there is this preponderance of restaurants especially. It suggests that you tip the post-tax amount. Have you noticed that that means that you're also paying a tip on the tax that you pay? So just pay attention to that next time you're at a sit down, full service restaurant, or really most any other place that suggests a tip amount. And yeah, that's annoying. And I really doubt that that business sends that extra revenue to the IRS where you're paying a tip to the tax amount.   Keith Weinhold (00:29:00) - Gosh. But it all comes back to tip and the influx of automatic prompts at businesses like coffee shops, it gives you more chances to tip, and it'll just wear you down and then wear you out, creating this sense of exhaustion thinking what is all this for? It is just wild. If supermarkets are asking you to leave a tip for self checkout, your supermarket wants to outsource their checkout duties from clerks and cashiers to you, asking you to scan your own groceries. By the way, that is an example of service inflation. And then they ask you for a tip. On top of this food inflation and service inflation, you're doing it all yourself. What is next? You're going to have to unload the store's delivery of food from the 18 Wheeler truck in the back, onto a forklift, and onto the shelves yourself. I kind of doubt that. But if grocery stores are convenience stores, self-serve kiosks, if they're requesting tips, then it's more likely that soon enough, your human checkout clerk is going to start requesting tips.   Keith Weinhold (00:30:09) - When you're checking out at Whole Foods or Publix or Wegmans or Safeway, that human checkout clerk that's going to appear as some sort of small luxury comparatively. I mean, I would expect that to come to your town next. Expect to see it if you haven't already. There used to be this general understanding of what different tip amounts convey to servers and workers. Now, decades ago, it used to be a 10% tip meant, all right, well, hey, it wasn't horrible, but it wasn't great either. A 15% tip was normal and 20%. That meant that person did an excellent job. But now those amounts have all become expected and they've all been bumped up 5% or more. All right, well, here's my solution to avoid guilt tipping the way to no longer see a digital payment terminal spun around put in your face. Putting you on the spot to make a nice tip is just this two word solution pay cash. Yes, when you pay cash, you don't have to see an electronic payment terminal at all.   Keith Weinhold (00:31:18) - And it's far easier for you to ignore a physical tip jar that's sitting on the counter over to the side of you. The elegant and simple solution to guilt tipping is to pay cash. Now go ahead and leave a tip for good service if you want to. I'm not here to suggest that you stop all tipping. It's about how you can make an elegant circumvention of guilt tipping. If you have an eight second long exchange where you ask for a cup of coffee and they turn around and pour it from a spout and hand it to you. And that's all they did. Well, that tips discretionary. The bottom line is that you don't have to tip every time you're prompted. And now go ahead and hit up that ATM with cash. You will be armed and you can avoid guilt tipping completely. And hey, can we say that you will be fighting back like David Horowitz? Tipping is fine, but guilt tipping is out of control. And hey, if you want to see more on guilt tipping, I really brought it to life on a video recently where I really broke it down.   Keith Weinhold (00:32:25) - That is on our YouTube channel. We are consistently branded as they say. Our YouTube channel is called get Rich education. So you can watch me talk about guilt tipping and show you more over there. Do you feel like the world that you're living in is increasingly uncertain and unsafe? And is that adversely affecting your investment decisions? That happens to some people and you can't make gains when you stay on the sidelines. I think some people make too much of uncertainty, even though it has always existed. Just look at the last about four years. You know, someone could have said, I am just paralyzed with inaction because of the pandemic. Oh, that's uncertain then the recession fears uncertain, then rising interest rates where they rose fast, uncertain. And today it might be wars uncertain. And you know, the same people that get paralyzed with uncertainty. They will soon say something next year like, well, it's a presidential election year. So. I think uncertainty is going to sideline me again. If you wait for uncertainty to abate, such as you have complete clarity or even great clarity, you're going to be waiting your entire life.   Keith Weinhold (00:33:47) - Uncertainty and an absence of complete safety that's existed in the world every single day since the day that you and I were born and before you and I were born. And it will exist after we're gone, too. I mean, really, just look at some of these disasters that have taken place just this century, and we're still in the first quarter of this century. And let's look here at some just in the US, not foreign crises. I'm thinking about the Y2K bug, the September 11th terrorist attacks on the World Trade Towers in the Pentagon, the Iraq war, the invasion into Afghanistan, Hurricane Katrina, where 1800 people were killed, the GREAtrillionECESSION, the Arab Spring, the surprise of Donald Trump becoming our president in 2016. Remember, that was a real upset over Hillary Clinton. How about the jarring events of January 6th of the Capitol less than three years ago, the eviction moratorium, the slow creep of climate change, the riots and civil unrest with the George Floyd protests, the wildflowers from California to Maui.   Keith Weinhold (00:35:00) - I mean, I could go on and on about how winners just keep thriving despite a world that's constantly uncertain and unsafe. And I'm only talking about things that involve the United States here, and I'm keeping it confined to this century just a little more than two decades. I mean, before that, we had World wars. We had the Dust Bowl, Cuba's Bay of pigs invasion in the Cuban Missile Crisis that could have led to a nuclear apocalypse that completely destroyed the entire world. There is relative clarity today compared to all that. How about an assassination attempt of our President Reagan? I mean, things are substantially more certain today in a lot of ways. And today, American employment is strong, GDP is growing. Our currency is fairly stable despite our problems, which will always exist. Today, the US economy is outperforming everybody in the world. And in a world that some feel is uncertain and unsafe, just consider the relative sense of certainty and safety you have today. Well, we discuss wars today. As bad as they are when they do happen, they're never on US soil.   Keith Weinhold (00:36:13) - Can you imagine an attack on American soil? How would that sound? Like? The enemy has destroyed and taken control of Charleston in Savannah. And next they're moving inland to take down Atlanta. I mean, that's so unlikely that your mind isn't even conditioned to think that way. But the reason that it seems, seems like your world is getting less certain and less safe is because of media. Media is more fractured than it's ever been. It wants your attention. So with more competition with everything from YouTube videos to TikTok clips now competing with legacy media, you get introduced to more fear in order to get your attention. My gosh. I mean, is American life safer than ever? You can make the case that it's become too safe even. I've talked to you before about how things could very well be in safety overboard mode in real estate. Now here we talk about providing clean, safe, affordable and functional housing. But she should need GFCI outlets all over the place in your property, and carbon monoxide detectors and fire rated doors, even when their improvement to your safety is negligible.   Keith Weinhold (00:37:32) - American society at large is so ultra safe and in fact, there's even a term for this now it's called safety ism. Yeah, look it up. It's how excessive safety is becoming harmful to society. When you are on your last passenger plane flight at night and you just wanted to take a nice nap, or you wanted to get some sleep, did the pilot come on to the intercom system and wake you up, telling you to sit down and put your seatbelt on every time? Just a small amount of turbulence was being felt. Oh, there are endless instances like that where society's gotten so safe that it's just annoying. The last time that I was shopping at Lowe's, the home improvement store, a forklift driver was slowly driving the aisles really carefully. And besides just the forklift driver sitting on the seat, there was a second man, a flagger, that was out in front of him, walking, holding two little flags. So the shopping customers knew that a forklift. This coming. Like, that's such a wild hazard to human safety.   Keith Weinhold (00:38:37) - I mean, gosh, the gross inefficiency of that just to improve safety ever so slightly. Construction workers that have to wear hard hats outdoors in an open field. I mean, our society has become Uber safe. Now, don't get me wrong, some measure of safety is definitely a good thing, but I'm underscoring the fact that historically, this world that you're living in is ultra safe and ultra certain. And then within our investing world, take a look around what can be said to be certain and uncertain. Apple. They're the world's largest company by market cap at about $3 trillion. And their risk is that eventually they might fail to keep innovating. How about Bitcoin? Bitcoin could have government crackdowns or some other lack of certainties, their money in the bank and owning Treasury bonds. All right. That's fairly safe and certain. But you aren't getting any real yield there. And in a world that feels more uncertain and unsafe than it really is, bring it back to the positive attributes of being a real estate investor here.   Keith Weinhold (00:39:46) - You know, monetary inflation is a near certainty, and so is the fact that people will pay you rent if you put a roof over their heads. Certainty. It helps to be mindful that safety is the opposite of freedom, and that having security is the opposite of having opportunity. Hey, well, speaking of opportunity, join our investment coach Norris for Grizz Live event that is to night. You can join from the comfort of your own home. You get to select from one of the two options for Florida Income property. You can select either a 5.75% mortgage rate or the 224 program, which means two years of free property management. 2% of the purchase price. In closing cost credit to you and a generous $4,000 lease up fee credit. Sign up. It's free. It's our live event tonight, the 27th at 8:30 p.m. eastern, 530 Pacific. If you're a few days late, be sure to watch the replay soon. register@webinars.com to have a chance at putting some new Build Florida Income property in your portfolio.   Keith Weinhold (00:41:00) - Until next week, I'm your host, Keith Winfield. Don't quit your day dream.   Speaker 5 (00:41:08) - Nothing on this show should be considered specific, personal or professional advice. Please consult an appropriate tax, legal, real estate, financial or business professional for individualized advice. Opinions of guests are their own. Information is not guaranteed. All investment strategies have the potential for profit or loss. The host is operating on behalf of get Rich education LLC exclusively.   Keith Weinhold (00:41:36) - The preceding program was brought to you by your home for wealth building. Get rich education.

Could the spread of 'cancel culture' in the US stem from an external influence, more specifically, China? In the latest episode of our podcast, we pose this thought-provoking question and much more to our esteemed guest Naresh Vissa, CEO, real estate investor, and best-selling author of Trumpbook and Podcastnomics. With incisive analysis and thought-provoking insights, Naresh dissects China's insidious influence on various aspects of US society. From the education system to the entertainment industry and even our social media, no stone is left unturned in this riveting discussion. The conversation doesn't end there. As we dissect the events surrounding the NBA General Manager's tweet and the backlash faced by Bud Light for embracing wokeness, we navigate the intersection of politics, business, and society. The role and responsibility of influencers and athletes in spotlighting social issues are placed under the microscope, as well as China's increasing global power and its alarming role in the fentanyl epidemic impacting low-income and African-American communities.We round off this intense yet intriguing episode with a look at the contentious US political landscape. Election strategies, potential candidates, and the influence of independent voters all make for a compelling discussion. We also share tips for up-and-coming podcasters and lighten the mood with some casual banter about college basketball. Don't miss out on this enlightening episode filled with hard truths, critical analyses, and impassioned debates!Support Naresh by purchasing his books at AmazonTrumpbook at Amazonhttps://a.co/d/7GfCI1qPodcastnomics at Amazonhttps://a.co/d/2D9qodd https://thetakeitdeepshow.buzzsprout.com

Ever found yourself wondering about the mysterious life of a spy? How does it influence their love lives? Sit back, relax and let us entertain you with tales of Leah's new boyfriend and his intriguing spy name. We'll also touch on the fascinating backgrounds of our parents, revealing the impact of religion on their lives. Hold your breath as we spill the beans on the wild adventures of Kevin's two dogs, Scout and Gunner, and get ready to be thrilled as we introduce our first-ever legitimate guest!Fasten your seatbelts as we journey through the tumultuous landscape of the Middle East conflict, challenging the narratives spun by the media. We'll question the financial backing behind this enduring strife, the origins of the violence, and the underlying reasons. As we untangle this web, we'll also shed light on the role of social media in shaping our perceptions of truth and delve into the politics of weapon access. Brace yourself as we speculate on the potential recovery of American vehicles and helicopters - and the implications it holds.But let's not forget to have some fun! We'll embark on a nostalgic exploration of our favorite childhood cartoons, debating Saturday morning hits and embracing the joy of reminiscence. Join us as we share our favorite characters and shows, from GI Joe to Transformers. What's more, we'll ignite your imagination as we envision a Footloose remake starring none other than the Kool-Aid Man! Stay for the ride, as the next episode promises even more excitement with a special guest, bestselling author Naresh Vissa, who will discuss his new book, The Shadow of the Shadow Bands of Social Media. https://www.podpage.com/TIDshow/

The boys are joined by Naresh Vissa to discuss a multitude of political and social topics. Naresh Vissa is the #1 Bestselling author of ⁠TRUMPBOOK: How Digital Liberals Silenced A Nation Into Making America Hate Again⁠, Founder & CEO of Krish Media & Marketing, Host of The Work From Home Show. He has worked with CNN Radio, Clear Channel Communications, J.P. Morgan Chase, EverBank, The Institute for Energy Research, Houston Rockets, Houston Astros, the American Junior Golf Association, Agora Financial, Agora Publishing, Stansberry Research, and TradeStops. He is the #1 bestselling author of TRUMPBOOK: How Digital Liberals Silenced a Nation into Making America Hate Again, FIFTY SHADES OF MARKETING: Whip Your Business into Shape & Dominate Your Competition, PODCASTNOMICS: The Book of Podcasting... To Make You Millions, THE NEW PR: 21st Century Public Relations Strategies & Resources... To Reach Millions, and FROM NOBODY TO BESTSELLING AUTHOR! How To Write, Publish & Market Your Book. For more on Naresh Vissa, check out the links below! www.NareshVissa.comwww.KrishMediaMarketing.comwww.WorkFromHomeShow.com

Naresh Vissa is Founder and CEO of Krish Media & Marketing – a full service online and digital media and marketing agency. He has worked with leading publishers, media firms and institutions such as CNN Radio, JP Morgan Chase, EverBank, The Institute for Energy Research, Houston Rockets, Houston Astros, the American Junior Golf Association, Agora Publishing, and Stansberry Research. Naresh helped launch an online radio network generating six-figures in monthly revenue.  He managed the production and marketing for the first online retail physical precious metals trading platform. He's a #1 bestselling author of PODCASTNOMICS: The Book Of Podcasting… To Make You Millions and has been featured on USA Today, Yahoo!, Bloomberg, MSNBC, Huffington Post, Business Week, MSN Money, Business Insider, India Today, and the Hindustan Times. He was also the Director of Media Strategy at the largest private and independent financial publisher in the world. In 2009, Naresh co-hosted the top-rated financial talk show in the Dallas/Fort Worth metropolis, The Wall Street Shuffle. He has booked more than 1,500 experts in the fields of finance, economics, business management & consulting, self-help, leadership, sales and marketing. Naresh aided the Houston Rockets' staff in selecting draft picks Aaron Brooks, Carl Landry and Donte Greene in the 2007 and 2008 NBA Drafts. Naresh took as many as 27 credit hours a semester while at Syracuse University, and he graduated Magna Cum Laude from the Renée Crown University Honors Program, triple majoring in broadcast and digital journalism, finance, and accounting at the S.I. Newhouse School of Public Communications and Martin J. Whitman School of Management. Morgan Stanley nominated him as an Emerging Student Leader. During his junior and senior years, he served as an analyst for the Orange Value Fund, where he managed an investment portfolio in excess of $1.2 million of private investor money. Upon graduation, he was awarded as a high-achieving student in his class. Naresh earned a Master's Degree from Duke University's Fuqua School of Business, concurrently working as an admissions recruitment coordinator, marketing and communications blogger, and strategy research assistant to Executive in Residence Professor Bill Sax. A former academic tutor, counselor to underrepresented students, and middle school assistant basketball coach at the nationally renowned Village School in Houston, Naresh frequently donates his time to community service and social advocacy. He holds a first-degree Black Belt in Taekwondo. Linked text for book "FIFTY SHADES OF MARKETING"Linked text for book "PODCASTNOMICS"

Get our newsletter free here or text “GRE” to 66866. In this podcast episode, host Keith Weinhold introduces Scott Saunders, a successful real estate investor who shares his insights and experiences in building a portfolio of 64 single-family rental properties.  They discuss the advantages of investing in cash-flowing rental properties, the importance of focusing on cash flow in the early stages, and the benefits of single-family rentals compared to multifamily properties.  Scott also discusses his analysis of different markets for real estate investment and his approach to financing and leveraging his investments.  They emphasize the importance of seeking professional advice and using resources like GREmarketplace.com for wealth building. Timestamps: The advantages of single family rentals [00:06:22] Scott discusses the advantages of investing in single family rentals, including better cap rates, long-term fixed-rate financing, and the inherent demand for single family homes. Greater liquidity with single family rentals [00:08:31] Scott and Keith talk about the liquidity component of single family rentals, highlighting that even in a recession, people will still need a place to live and therefore be buyers of single family homes. Longer tenancy duration in single family rentals [00:09:34] The discussion focuses on how tenants tend to stay longer in single family homes and duplexes compared to larger apartment buildings, often due to factors such as larger square footage and the desire to be in a specific school district. The importance of cash flow at the beginning [00:11:34] Starting with cash flow-centric properties and gradually moving towards appreciation as the portfolio grows. Scaling up the portfolio with short-term targets [00:14:55] Setting 90-day targets to buy a specific number of properties, leading to significant progress in a year. Factors in selecting the next market to buy in [00:18:24] Considerations include having a communicative property manager and existing opportunities in a market rather than solely focusing on a good deal. The importance of relationships in real estate investing [00:19:18] Scott discusses the significance of having a good relationship with property managers and asset providers in different markets. Factors to consider when choosing a real estate market [00:20:18] Scott talks about the importance of factors such as job growth, a diversified economy, and an influx of people when selecting a market to invest in. Using inflation as a tailwind in real estate investing [00:23:54] Scott explains how he leverages inflation to his advantage by locking in assets today and using inflation to propel his investing forward. The importance of 30-year fixed rate financing [00:28:12] Scott discusses the benefits of locking in a 30-year fixed rate for financing and shares his experience during the COVID-19 pandemic. Using paid-off assets as collateral for future financing [00:29:11] Scott explains his strategy of paying off some properties to use them as collateral for obtaining loans for future investments. Managing properties and involving family in real estate business [00:31:19] Scott talks about using Excel to track his rental income and involving his daughter in managing the financials of his real estate business. The goal of acquiring lifestyle assets [00:36:34] Scott Saunders discusses his long-term goal of purchasing properties in Tuscany, Italy, Steamboat Springs, Colorado, and other locations for both enjoyment and return on investment. The importance of return on attention [00:38:01] Scott explains the concept of return on attention, which focuses on having the freedom to enjoy life without being constantly distracted by financial concerns. The impact of purchasing single-family rentals [00:40:07] Scott emphasizes the benefits of purchasing 5 to 10 single-family rental properties, which can provide economic freedom and significantly improve one's financial situation. The disclaimer [00:46:07] The speaker provides a disclaimer stating that the show does not provide specific advice and encourages listeners to seek professional advice. Introduction [00:46:35] The speaker introduces the show and mentions the website getricheducation.com as the home for wealth building. Resources mentioned: Show Notes: www.GetRichEducation.com/458 Scott Saunders' resources: ScottRSaunders.com Get mortgage loans for investment property: RidgeLendingGroup.com or call 855-74-RIDGE  or e-mail: info@RidgeLendingGroup.com Find cash-flowing Jacksonville property at: www.JWBrealestate.com/GRE Invest with Freedom Family Investments. You get paid first: Text ‘FAMILY' to 66866 Will you please leave a review for the show? I'd be grateful. Search “how to leave an Apple Podcasts review”  Top Properties & Providers: GREmarketplace.com Best Financial Education: GetRichEducation.com Get our wealth-building newsletter free— text ‘GRE' to 66866 Our YouTube Channel: www.youtube.com/c/GetRichEducation Follow us on Instagram: @getricheducation Keith's personal Instagram: @keithweinhold   Complete episode transcript:   Speaker 1 (00:00:00) - Welcome to. I'm your host, Keith Weinhold. A follower has built a multi-state portfolio of 64 single family rental properties. He'll tell us how he's doing it, how he finances them all, his management technique and his guiding success principles today on Get Rich education. With real estate capital Jacksonville. Real estate has outperformed the stock market by 44% over the last 20 years. It's proven to be a more stable asset, especially during recessions. Their vertically integrated strategy has led to 79% more home price appreciation compared to the average Jacksonville investor since 2013. GWB is ready to help your money make money and to make it easy for everyday investors. Get started at GWB Real estate agree that's GWB real estate.com slash.   Speaker 2 (00:01:00) - 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 (00:01:23) - Hey, welcome to GRE. From the tropical currents in the Gulf of Mexico to the icy waters of Hudson Bay across the Americas in 188 world nations, this is get rich education where we just reach the 5 million listener download.   Speaker 1 (00:01:37) - Mark, I am grateful to you for that. I'm your host, Keith Weinhold. Hey, a little context before we chat with our listener guests about the architecture of how he's building this robust 64 single family homes portfolio in growing across nine US states Once in a while. I like to drop things back for just a minute in case perhaps you're new here and you wonder how do people buy so many rental homes like adding ten every year? How am I supposed to do that? Well, of course, your speed of growth is going to be predicated on your income and some other things. But the best long term single-family rental homes, they're not 500 homes. They tend to be more like 200,000 homes in areas that are not upscale but yet safe, where you use a 20 to 25% down payment. And if you're new here and you have an aversion to debt, you know, I think that the simplest, most reassuring thing that I can tell a newcomer about real estate debt in just one sentence is that in a cash flowing rental, the tenant pays all of the debt for you, the principal, the interest, no matter what the interest rate is, all the operating expenses.   Speaker 1 (00:02:51) - And then a little on top of that called cash flow. Now, really, when you add the first few income properties to your life and you think about protecting your time, think about how that is a surrogate, a substitute to adding a part time job that can be a rather circuitous way of going about life, because what you really want is the income, not the job or not the lost time. So therefore add properties, not jobs. Most people think of financial improvement is cutting expenses. It is not. It is adding income. Then those the triadic income, many times they look to add a part time job. But I brazenly posit that income producing property is the way. And what do they call Ryan Seacrest the hardest working guy in show business? I guess if you wanted to, you could have as many part time jobs as Ryan Seacrest. Prepare yourself for drama on this stage.   Speaker 2 (00:03:54) - This is American Idol.   Speaker 1 (00:04:00) - Yeah, Ryan Seacrest. He will also become the Wheel of Fortune host starting next year along with the daytime talk show and being a producer and whatever else he does.   Speaker 1 (00:04:10) - I'm not really up on the latest. But yes, you want to have fewer jobs than Ryan Seacrest now speaking to your ROI, your return on time invested. You could get 64 single family rental homes like our guest today, and yet do it the wrong way. The wrong way might be say you live in a certain metro area and you buy all the properties just in your home metro so that the properties are spread, say one hour apart. That way you rationalize that you could self-manage, well, gosh, you'd be running all over the place. You'd have scores of tenants that could tax you. You'd almost be living at Home Depot, and after all that, you would still not be diversified because you'd only be in one metro market. Plus, how would you really ever get away on, say, a vacation? So that's probably not what you'd want either. Let's talk to our listener guest Scott, today and learn about how he does it. Here with me today is a great listener. Don't quit your day dream letter reader to discuss growing his Single-family rental portfolio.   Speaker 1 (00:05:22) - He's based in Colorado and he specializes in real estate in tax law. In fact, he often teaches real estate law to attorneys. He's a single family real estate investor that owns 64 single family rentals and four duplexes. So therefore, he owns 72 doors, 64 of which are single family rentals. And he owns those properties across nine different states Tennessee, Florida, Indiana, Missouri, Ohio, New Mexico, Colorado, Kansas and Arkansas. Higher mortgage rates aren't slowing him down as he's added six of those single family rentals this year. He's also a member of a Washington, D.C. based public policy organization that represents real estate interests. So he's really involved. He advocates for investor friendly tax policies with Congress. He's got a lot going on in his life. Hey, it's great to welcome on to Scott Saunders. Hey, Keith, Great to be with you. I'm a longtime follower and you have so many great nuggets of wisdom that you share, and it's just great. To visit with you for a few minutes.   Speaker 1 (00:06:22) - So thanks a lot. I appreciate that so much, Scott. Now, in the real estate world, there are pros and cons between single family rentals and larger apartments. Apartments have a certain economies of scale advantage, but single family rentals have advantages that some people overlook. So talk to us about why you like single family rentals so much. Happy to do that. I think single family rentals are, first of all, a great entryway to get into investment real estate. But some people kind of springboard. They get into single family and then they want to go into duplexes, four Plex apartments, Single family is an asset class. You know, if you just look at it, it has so many advantages. The cap rate on a single family is typically better than a lot of commercial buildings right now. You can lock in long term fixed rate financing. So even if the rate's a tad higher, you go into an apartment building or commercial, you've got to refinance. And as we all know right now in the marketplace, there are some commercial properties that are facing some significant distress because they're having to refinance at higher rates.   Speaker 1 (00:07:29) - Single family, you lock it in for 30 years and fix that. You've got buyer.   Speaker 3 (00:07:34) - Pool. I can sell a single family to an investor or a homeowner. So there just are a lot of advantages and maybe even just at the most basic level, we all need to live somewhere, right? And so a choice of an apartment or a single family. So many people like the freedom, the room, the convenience, the yard, the garage that comes with a single family. So I just think there's a lot of inherent demand where people want to be in that type of property, either as a renter or a homeowner. So I'm a big fan of buying a single family home, buy another one, you know, and just continue scaling in that niche. I call it Get Rich in a niche, right? And that's the single family rental niche.   Speaker 1 (00:08:16) - Sure. I had some apartment buildings that I sold recently that had balloon loans that were about to expire. And you mentioned the liquidity component where you have greater liquidity with single family rentals regardless of when it is in the cycle.   Speaker 1 (00:08:31) - Even if it were a recession, borderline depression, people will be a buyer because they need a place to live. But a person doesn't always need to invest in an apartment building regardless of where we're at in the economic cycle.   Speaker 3 (00:08:45) - Absolutely. Well, smart timing on your part to kind of see where those loans are going. And I think that there's a good time to maybe redeploy that capital somewhere else. So I like single family, and I think you can really grow and scale a portfolio. I mean, think of it this way, Keith. What if I needed to raise some cash? What if I had a medical need? I could unload a single family home or two right away. Now, I know from listening to your teaching, you'd say, don't sell it, refinance it. Right, harvest that equity. And that would be my first bet. But if I needed to generate cash, it's not that hard to unload some smaller single family rentals. And within a matter of a few months I could liquidate that and get the cash.   Speaker 3 (00:09:26) - Some apartment buildings, you know, in some markets it could take a long time to find the right buyer in some places.   Speaker 1 (00:09:34) - Now, during that whole time on a single family rental, you mentioned the cap rates. Oftentimes single family rentals are more profitable than what an investor projects. And one reason is that greater tenancy duration tenants tend to stay in single family homes and duplexes longer than they do a larger apartment building. Oftentimes it's because it feels like their own single family homes just tend to have more square footage, which lends to having larger families. We have a larger family. It just tends toward people wanting to stay longer and not uproot, and they get invested in things like buying to be in a certain school district, for example, where more single family homes tend to be than apartment buildings.   Speaker 3 (00:10:18) - Absolutely. You know, you bring that up. My very first investment years ago was a fourplex, kind of a C class neighborhood. And when I bought it, I naively write. I look back at it now, I thought, well, if this is fully occupied, look at what the money will make.   Speaker 3 (00:10:33) - The reality was there was a lot of turnover at that particular area. People came and went. It wasn't the top of the line. It wasn't a top tier neighborhood. And so I found that I was always chasing people and it was never in my case, fully occupied. And that tenant turn, that's expensive, as you well know. When you turn tenants, you have lost rent. You got to fix it up. So a single family home. I've had properties that my longest one I had attended stay in one for 15 years. I don't think you're going to find that in a multifamily property.   Speaker 1 (00:11:06) - Yeah, that really is rather unlikely. I know in that first fourplex you bought, you tended to do some things where later you learned that those were mistakes, like doing some excessive landscaping and spending a lot on fencing and. For a nice driveway so that you get a better quality tenant. But sometimes you learn you can only attract a certain quality tenant based on the neighborhood that you're already in. That's why oftentimes it's better to buy a lesser property in a better neighborhood.   Speaker 1 (00:11:34) - For example. Looking back and we'll get into your journey in a bit about how you've added all these properties, but one takeaway that you've had is that it's better to focus on cash flow at the beginning, more so that appreciation. So therefore getting a Class B or C property, which you probably don't want to stoop too low, or you also might have a bad experience at the beginning. So talk to us about the importance of for many people think they want to start with cash flow centric properties at the beginning and then maybe new build appreciation ones later.   Speaker 3 (00:12:03) - I agree. I think when you go into an asset that produces a cash flow, it kind of gives you the fuel to start growing, right? You get some positive reinforcement, but it also gives you the capital to go out and buy more assets. So I think that. BK and maybe call it B to C plus starting there, you know, getting 250 to 300 an asset in cash flow, you get one of those, you get three, you're talking about $1,000, you've got six.   Speaker 3 (00:12:29) - Now you're 2000. And at that point, when you get to maybe 6 to 10 properties, the cash flow is now helping to contribute your down payment to go out and buy another asset. So I personally think you kind of start with that maybe as your gateway for your first 5 or 10, get some momentum and then maybe later. So we all know an A-class property in a great neighborhood with great schools. It might appreciate better long term. And so I lean towards building the cash flow on the front end and then moving over into more appreciation as the portfolio grows. So there are merits on both sides. There's not a right or wrong way to do it, but that I think gets your average investor with some momentum. You know, you want to create momentum, you want to start buying assets. And so the cash flow allows you to buy assets faster than waiting for appreciation to kind of carry you up. That rising tide lifts all boats saying that'll happen over time, but get the momentum with the cash flow to help augment and help you buy more assets quickly.   Speaker 3 (00:13:33) - I tend to lean towards that approach. Again, no right or wrong, Keith, I'll tell you, I've done it wrong. I started out buying some A-class, about five new homes, and now those have produced good appreciation, but I didn't have much cash flow off them, so I had a little modest cash flow. I do things differently looking back, but I'm still moving forward. Real estate corrects, right? It's like a bad haircut and not that I would really know, but you can get a bad haircut and give it a 4 or 6 weeks and it'll grow out in a way you go and it covers over any mistakes that Barber made.   Speaker 1 (00:14:07) - Yeah, real estate's very forgiving over the long term. I kind of think of real estate as a game of attrition as long as you buy, right? Even if there is a bit of a mistake or a stumble, when you have five simultaneous ways that you're paid, you're going to feel that sooner than later. Scott You've really done a great job of scaling up your portfolio.   Speaker 1 (00:14:30) - Last I checked, you were in nine different markets. I mentioned the nine states that you were in earlier and you have 18 different property managers now. Can you talk to us more about how you scaled that? You talk to us about how it might be best to get that snowball rolling sooner with cash flow, but how do you scale up and ramp up to where you're at today with 72 doors, 64 of them single family rentals?   Speaker 3 (00:14:55) - Oh, what I'll do, Keith, I'll share what I did to kind of get there. And I want to be candid with you and listeners of that. I probably made a mistake doing that. I don't think everybody has to be in that many markets, that many managers. So what I did, quite frankly, it sounds so simple. I said a 90 day target. So I would say I'm going to buy X number of properties. That was a do or die goal. It wasn't an annual goal. If I wanted to buy three in that 90 day period, I would make sure no matter what, I bought three assets.   Speaker 3 (00:15:26) - So what happened was I maybe bought in different states to get the job done. I had to buy quickly, right? I was focused on adding my numbers. So for me, having that short term target that I looked at every day in the morning and the night that gave me the focus. So I wasn't looking over three years. I was like, What do I need to do in the next three months? And I really applied everything to doing that. And so you figure if you do a three month period, you pick up three, but you do that every quarter, that's 12 new assets in a year. That's big progress in just annual time frame. So that's what I did. 90 day targets were the game changer for me. Now, you shared kind of the downside of that and that I'm probably over diversified, I would say probably in my level being in three, four states, half the states and maybe two thirds less property managers would be more. Just from a relationship standpoint. So that was a mistake.   Speaker 3 (00:16:25) - And, you know, I can correct for it Over time. I'll probably do 1030 ones out of some of the states and consolidate in areas that I like. But that was how I did it is I just identified a lot of Midwest type markets that are good cash flow markets. And when I saw an opportunity, I grabbed it a few of them. Keith I buy one and then the next door, somebody was doing a renovation next door. And there are a few streets, right? Three houses right next to one another as a result of that. So that's kind of been interesting. And then I also find is word got out that I was buying. I had people approach me and say, Look, I've got a package of properties. Would you like the whole package or part of the package? And so that helped me a little bit. So instead of doing one loan on three different properties three times, I do one larger loan purchase, three properties at once. And so it gave me a little bit of efficiency.   Speaker 3 (00:17:19) - Now that didn't happen on all of them, but over time I've been doing more of that. My last one this year I bought four assets in Tennessee from one seller as a package deal, and that makes it a little bit easier.   Speaker 1 (00:17:32) - Yeah, I want to get into that financing piece shortly, but I think the important thing is you acted, you jumped in and once you do that, more opportunities begin to present themselves. And not everyone does everything the right way. If you've got 18 property managers you're dealing with, which would be a lot. I mean, if you get one monthly email statement from property manager that's getting one a little bit more than every other day, if one would happen to do it that way. I've often talked about how three, 4 or 5 markets to be in that number probably is a good number where you have adequate diversification, yet it hasn't overcomplicated your life administratively at the same time. But with that in mind, Scott, as you're growing your portfolio, what makes you decide what market to buy in next? Oftentimes it's not the sort of thing that you think it will be, just like you had an opportunity to present itself.   Speaker 1 (00:18:24) - For example, if you buy in a market and you find that you have a really communicative property manager that you really like in that market, you might buy in that market where you know you've already got a good manager, for example, rather than just what appears to be a good deal on the surface. So what are some of the factors that go into what make you decide which market to select next?   Speaker 3 (00:18:43) - Scott I've done a lot of analysis and there are a lot of good markets. You know, one thing, there's no perfect market. You and I probably know 20, 30, 40 good markets where people can make money that have good growing economies, populations growing. There's pressure on rents and appreciation. So I've identified some that I like. Would you just alluded to is really one of the factors now, which is more of a relationship, right? I've consolidated over, so I have a good property manager in Memphis, Tennessee. I've got a great working relationship with them and then also a provider of assets.   Speaker 3 (00:19:18) - And so for me, I'm finding having that relationship makes things a little smoother. There's a trust factor when you manage remotely. I haven't seen most of my assets and I do very little in my own home state. So for me, it's really important that I can trust who I'm working with out of state. And so I find having that relationship makes me more likely to purchase more properties in that particular market because I've got that. So Saint Louis, Missouri is one market. Memphis, Tennessee is another. Those are some markets that I like. Now, some of them have great fundamentals. You know, Memphis, number one airport in the entire country, you've got a waterway, you've got a lot of highways that converge there. You've got a lot of industrial Nike's there, Amazon. So there are, you know, kind of a multitude of factors. You know, right now in Memphis, you've got the blue oval development, which is the Ford. They're going to build battery trucks. And I think it's a $10 billion plant they're putting in.   Speaker 3 (00:20:18) - Well, that's going to be a huge draw for jobs. So I tend to look for jobs, a diversified economy. I like to see an influx of people coming into the market. So that's the big macro. When I look at my investment, I try to get fairly close to that 1% rule if I can. You know, I don't have to hit it perfectly, but that's kind of a decent benchmark on an asset. I like to get fairly close.   Speaker 1 (00:20:44) - You're listening to Get Rich Education. We're talking with super real estate investor on Single-family turnkey Homes, Scott Saunders. When we come back, including how did he do it with the financing and what does he do to manage all this? You're listening to Get Resuscitation. I'm your host, Keith Weinhold. You know, I'll just tell you, for the most passive part of my real estate investing personally, I put my own dollars with Freedom family investments because their funds pay me a stream of regular cash flow in. Returns are better than a bank savings account up to 12%.   Speaker 1 (00:21:18) - Their minimums are as low as 25 K. You don't even need to be accredited. For some of them, it's all backed by real estate and that kind of love. How the tax benefit of doing this can offset capital gains and your W-2 jobs income. And they've always given me exactly their stated return paid on time. So it's steady income, no surprises while I'm sleeping or just doing the things I love. For a little insider tip, I've invested in their power fund to get going on that text family to 668660, and this isn't a solicitation If you want to invest where I do, just go ahead and text family to six six, 866. Jerry listeners can't stop talking about their service from Ridge Lending Group and MLS 42056. They've provided our tribe with more loans than anyone. They're truly a top lender for beginners and veterans. It's where I go to get my own loans for single family rental property up to four plex. So start your prequalification and you can chat with President Charlie Ridge personally, though even deliver your custom plan for growing your real estate portfolio.   Speaker 1 (00:22:30) - Start at Ridge Lending Group. This is real estate investment coach Naresh Vissa. Don't live below your means.   Speaker 2 (00:22:45) - Grow your needs.   Speaker 1 (00:22:46) - Listen to Get Rich Education with Keith Weinhold. Welcome back to Get Rich Education we're talking with Scott Saunders get rich education listener owner of 64 single family rental properties. He really loves single family and he's still buying now. But Scott, some people have slowed down their buying with higher mortgage rates. They're not adding properties nearly as quickly. But still, really the question I asked myself is where could I invest better dollar today than in rental property? Of course, inflation debases that debt for us, and then when inflation and interest rates drop, I can refinance. And you've added just about 60 properties in the last four and a half years. So tell us about that.   Speaker 3 (00:23:39) - I have added a lot of them recently and it started again with setting those goals and I'm keeping up the momentum now. You know, I realized the rates have changed. This is still a good time to be a buyer If you're in certain markets.   Speaker 3 (00:23:54) - There are good purchases out there. So I'm able to negotiate a little better with sellers, maybe get a little concession where they'll give a couple points towards my rate or the closing cost. I couldn't get that and the go go days, people are doing that. And the way I look at it is I'm really making an investment now in an asset, right? What is a single family home? It's just a bunch of commodities glass, bricks, wood. And with inflation, we know commodities are going to go up. So I'm locking in that today and I'm going to really use inflation as a tailwind to propel my investing forward, whether that's with rents and appreciation, whether it's debasing my good business debt, I'm using that as a tailwind. And I'll tell you my personal opinion, Keith, I'll go on record on this. People are going to kick themselves a few years down the road when rates go down, whenever that is for not purchasing now, because when rates go down, it's going to create more demand.   Speaker 3 (00:24:54) - And I think you're going to lock in today's pricing now and somewhere rates will change. I don't know when, but nobody has that crystal ball. When they do, prices are going to pop up, I think, at that time. And so people are like, oh, I should have bought back in 2023. I don't want to do the woulda, coulda, shoulda. I'd rather make smart baby steps now. Just keep buying chunking along slow and steady and locking in assets today that I know five, ten years from now, my future self is going to be glad that I took action today.   Speaker 1 (00:25:30) - Now, I know that you, the listener, must be thinking, yes, I do want to buy more property here. But how to Scott add so many properties so fast and that really guides us into the financing. What do you do for the financing of these properties? Because of course for single people, those golden ticket Fannie Freddie loans run out at ten.   Speaker 3 (00:25:52) - One of the biggest things is getting over that hurdle of those lower rates.   Speaker 3 (00:25:57) - So I do what's called non QM or what they're also called DSR financing, where the load is made based upon the asset and the cash flow the asset produces. So these are going to be a little bit higher rate, a touch higher. But once you get into them and you get comfortable, you realize this is what all the big players do. People that buy commercial properties, that's how they buy them. So I'm using a rate that's a touch higher, but now I've got a great working relationship. I have one particular lender. I've done 40 loans with them directly, not with the broker. I go direct to the lender, save some money, and I'll literally email over to that lender at night. I'm buying just one of their contract on two more assets, and it's really easy to do the loan. So I find what's called non QM, which stands for Non-qualifying Mortgage, that type of financing. I actually prefer it. It's easier. I don't have to provide every financial statement, you know, updated within the last 30 days.   Speaker 3 (00:26:58) - I actually find it's an easier approach. And as long as you look at the numbers and you still have positive cash flow. So today maybe I'm positive $200 where a year and a half ago I might have been positive 3 or 350. So it takes me five assets to get another thousand in cash flow today where I could have done that and maybe three or so a little while back. Okay, I'm just buying more assets, right? I win with that because I'm still locking in more of those commodities in those assets. And so I just that inflation raised that up over time and I just get the benefit of it. So now instead of fighting against inflation, I'm using inflation to move me forward.   Speaker 1 (00:27:41) - About dcr loans, debt service coverage ratio loans which are used more commonly in the five plus apartment space area. That is one option for one after they run out of their ten golden ticket Fannie Freddie loans that are at the best rates in terms. Can you tell us more about those terms of the hours? Are you getting a longer term fixed rate? Do you need to put a greater percent down for those?   Speaker 3 (00:28:08) - Most of mine are relatively close to a conventional loan.   Speaker 3 (00:28:12) - You can get those with 20% down. I have chosen in some cases to put down maybe 25%, but I'm getting in almost all situations 30 year fixed rate financing. To me, I want to fix that debt service and have it locked in. So that's really important. So I'm a big believer in 30 year fixed rate. I did have during Covid right at the beginning and I had some assets under contract. You couldn't get a loan. It was very difficult. March, April, May and I had deals closing. Then I had lender that I had to get the lender that they required me to put down 40%. So I had to put a bigger down payment to get it done. At the time, Keith, I was like, Oh, I'm not getting as much leverage. My money's not working quite as hard. Now, that was several years ago, and a few of those because they were smaller assets. I've got little small loans on them where and I want to be careful because I know your view on debt.   Speaker 3 (00:29:11) - I'm going to be paying some of them off, not to have them free and clear, but to use those as a resource as collateral. So I can go to a bank and say, Look, I'm going to pledge this collateral. Let's say ten homes that are free and clear, you give me a loan and now I'll use that loan to do some other things, probably like hard money, loans, private lending. So I'm going to use those paid off assets as a tool for me to do some financing, some creative financing deals in the future. So it's a means to an end. It's a stepping stone to go a little bit deeper and use the banks money for me to make more money in the future. So that's kind of what I'll be doing there.   Speaker 1 (00:29:51) - All right. It sounds like you still want to keep most of them leverage. Are you talking about the advantages of having a few of them paid off and therefore really so that you can borrow against the value of those paid off properties? So really, you're just paying them off to effectively use leverage again in a different way?   Speaker 3 (00:30:08) - Precisely.   Speaker 3 (00:30:09) - That's exactly what I'm going to do is bundle those together and those become collateral. So exactly. I'm going to relieve them maybe in a different fashion. So I am a huge fan of good business debt. It's one of those things is concepts. So you got to wrap your head around it at the beginning because we're beat into our brains that, you know, debt is bad, but good business debt is not only good, it's great. It allows you to multiply your efforts faster than you could with your own capital. So to take the bank's capital and use that to get ahead, that to me is is a smart move 100%.   Speaker 1 (00:30:50) - So you've got this robust portfolio spread across several different states. You've even admitted probably dealing currently with more managers than you even want to. And it makes one wonder, is there any particular type of management software that you use? Now, of course, each one of your individual property managers, 18 of them, they have their own management software. But how does that work? How do you manage all this? Do you really get 18 monthly statement emails from 18 property managers each month?   Speaker 3 (00:31:19) - I do actually get 18 different emails and statements a month.   Speaker 3 (00:31:23) - I'll tell you what I've done, Keith. I'm very low tech. I'll be honest. I use Excel to track things and what I've done, which is kind of a fun thing for me. My youngest daughter, who, believe it or not, actually owns. She bought her first single family home at age 16. She's been watching me. She actually helps me now track my rental income and work with the financials. So I've hired her in my real estate business. She now gets all the statements she puts in, puts everything into my spreadsheet and then runs the reports for me. So it's been kind of neat in that I get the data I need, but I'm also training my kid about real estate. And not only that, I actually include her on my emails, so she has a real estate specific email. When I reply to my property manager about an issue, I'll copy her so she sees my thinking how I do it. So I'm trying to be strategic, realizing I'm not going to be around forever.   Speaker 3 (00:32:21) - Someday my kids are going to get a pile of real estate and I want them to know what to do with it when they get it, that they walk into it and they're like, okay, I kind of know what to do versus selling it all off and then giving the money to Wall Street, which is I would hate to have that happen. So I'm. Try to bring them along.   Speaker 1 (00:32:41) - Despite the fact you use Excel. You talk about how you're relatively low tech. I'm, in fact, impressed with that because it demonstrates to me that, you know, the proper formulas to use in Excel and which numbers actually matter to drive your current and future investment decisions. So that actually tells me a lot that you really understand what's going on behind the scenes and you don't have it too automated. Also, when you're involved like this, which is a sense that you just cannot get being a stock investor where your profits are really coming from and where they're really not coming from. Having one of your children involved that is huge at building this legacy wealth piece like we talked about on the show last month and helping ensure that there is generational wealth in your family, like with your daughter.   Speaker 1 (00:33:26) - Now, she understands where it comes from and what it takes. So I absolutely love that piece. Scott We talk about what drives investment decisions. We talk about how you've acquired and you've held some properties. What about the time to sell? For example, I like to buy turnkey investments that already have the renovation done, or they're just brand new and oftentimes like to just hold them 7 to 10 years because in 7 to 10 years, in the last three years, it's been as short as three years, those properties have gone up in value enough where the leverage ratio was cut such that I either want to do a cash out refinance or a 1031 exchange, not get too emotional about properties, only hold them seven years, rarely if ever, more than ten years. What are your thoughts with the whole time and the duration?   Speaker 3 (00:34:09) - I'm fairly similar to you on that. I do. My preference is turnkey. That's what most of my portfolio is. So I'm buying stuff that's already been renovated after, you know, 10 to 15 years.   Speaker 3 (00:34:21) - And that window, that's when you're going to start to see roof issues, the furnace, the AC. So my plan would then be to do a 1031 roll out and get more turnkey. So let's say I take one single family home that might allow me to go out and buy 2 or 3 more single family homes, probably ten years max would be what I would be doing. And I did that. I rolled out A1A couple of years ago. I had one single family in Arizona exchanged out of it, and I bought four in Saint Louis, one in Memphis. I got a much better return on my investment. So to think of if you take my portfolio today, right in the 60s, if I can roll out of that and go up to, let's say 120 or 130, that's going to give me some significant scale and benefits. So that would be my plan. I'll never sell and pay the taxes. I always do it 1031 or I'll refinance to harvest equity.   Speaker 1 (00:35:17) - If you're a brand new listener and you don't know what a 1031 tax deferred exchange is, the short story on that is it basically allows you to roll your profits from appreciation into another property, either multiple properties or a larger property is what it usually is with you being able to 100% defer the tax.   Speaker 1 (00:35:37) - And there's no limit to the number of times you can do that. Therefore, it should become a tax free event. You can defer that tax your entire life by trading up with that. 1031 also called a 1031 like kind exchange. As you go along, I know that you've got some great philosophy, Scott. I mean, first of all, you're a goal driven guy, so you have these longer term goals. And you mentioned you also have these shorter term milestones, like a 90 day goal on your way to those longer term goals. For one that hasn't heard the acronym before, Goals should be smart, that is specific, measurable, achievable, relevant and time bound. That's what differentiates a goal from a wish. So tell us about your goals and how that drives this. Scott.   Speaker 3 (00:36:22) - My duals. I do every three months. I do have a short term goal and I've got some For this year. I'll probably pick up 15 properties. I think I'm halfway through the year. I'm on track, so I'll do that.   Speaker 3 (00:36:34) - I've got some long term goals. One of them just before I left on vacation a couple of weeks ago, I'm under contract on a property in Tuscany, Italy, so I can have what I call a lifestyle asset. So one of my goals would be to get a few lifestyle assets. I want to buy a place in Steamboat Springs, Colorado, enjoyed some of the year, rent it out other times. So one goal would be picking up a few of these. That would be something that I can enjoy and my kids can enjoy, but it also produced a return. So it's a twofer. I gave money on it and I get to enjoy it. That's a big long term goal of doing that. So Tuscany, I like to do a place in Sardinia, Italy, which is the most beautiful beaches, gorgeous. The mountains may be a place in Florida, so I like to pick up over the next few years, maybe a property a year in that category. That's just something that's fun.   Speaker 3 (00:37:25) - It doesn't make any sense to work really hard and save if you can't enjoy life, right? I mean, that's the whole goal is to get free where you can enjoy your time and enjoy spending time with the ones you care about. So I want to transition that way into Tastic.   Speaker 1 (00:37:42) - Yeah, spending time in Tuscany was part of perhaps the best week of my life personally, part of your philosophies. It's not just having tangible goals, it's you call something rather than an ROI in ROA, and it's that the return on a realisation that I talk about.   Speaker 3 (00:38:01) - Yeah, what that is, you know, so many people have heard of ROI, which is a return on investment and we kind of get bottlenecked around that, right? Looking at our return, you know, 7%, 8%, 1619 And there's a lot of focus. What I tend to do, and this actually came through a good friend of mine, Rick ROA, is return on attention. Yeah. Looking at our life from a time standpoint.   Speaker 3 (00:38:25) - So when we look at ROI, we're looking at money dollars return on attention. We're now measuring things in time, right? What do we have the free time to enjoy without having to be distracted with following the stock market every day? And is it up or down? Or what's the Fed doing? So return on attention to me is actually more important than the ROI. And I know we're on a podcast talking about real estate, so surely making wise investment decisions is important. But if I look at where I am in life, more important to me is my return on attention than my return on my investment. So I want to have my attention free that I can enjoy what's around me while I'm young enough and vibrant enough to enjoy it. So I just got back from travel and Saint Lucia had a wonderful time out there. I love to travel. I typically do an international trip probably every quarter or so. I'm taking my son to Morocco, did an African safari. We did Iceland swam with whale sharks last year.   Speaker 3 (00:39:30) - Portugal. I want to spend time with the people I care about and travel is a part of that and having my attention freed up so I can do that. That actually is a big principle. It's a big objective is having my time freed up and my attention freed up.   Speaker 1 (00:39:47) - Wealth is measured in time, not dollars. You and I sure do agree there. Scott is we're about to wrap up here. I know you often talk to people about the importance of taking action and just sort of getting those base hits and how do you think that people would have more economic freedom if they just purchased 5 to 10 single family rentals?   Speaker 3 (00:40:07) - Absolutely. And it's not that hard, right? You get over the first one's the hardest and then you get a little momentum after that, Right. The first one hard, the second one, you've just doubled the size of your real estate portfolio. You go to four, you quadrupled your first one. And I think the magic number to hit is get to five and add five assets.   Speaker 3 (00:40:28) - You typically have enough rental income coming in that it's pretty close to being self-sustaining. So if you have one vacancy, you're going to typically have pretty much enough rental income to do it. So getting to five and then pushing on to 10 or 15, that can change so many people's lives. Just that small thing for the average American. If you had ten single family rental homes, you'd be light years ahead of the people that are doing all the 401. And Wall Street racket stuff.   Speaker 1 (00:40:59) - That's so on point. Yeah, you are really doing the things. Scott, before I ask you how our audience can learn more about you, do you have any last thoughts? Anything else you'd like to discuss maybe that did not come up with scaling up this terrific Single-family rental portfolio and how that's enhancing your life.   Speaker 3 (00:41:18) - I'll give two quick tidbits to kind of wrap things up here. Keith, it's been great visiting with you. I've been a longtime follower and just love all the information you bring out and the resources, so it's great to visit with you in person.   Speaker 3 (00:41:30) - Two things. One, I would say use the tax code, use guys like Tom Lehrer write, read those books, figure out how to master the tax code. A lot of people don't do that. They're intimidated by taxes and the IRS go after that and it'll give you more capital to grow your portfolio. The other one, I would say, and I think you alluded to it, is don't be paralyzed by inaction. Don't do that analysis paralysis thing of is this good or not? My whole philosophy is I never try to hit a home run. I don't need the best performing investment. I just need a good investment. And you know, in a portfolio, I've some that have been stellar and I've had 1 or 2 dogs like anybody would. When you get a bunch of them, my feedback would be, if you're not in the game of real estate, put all your focus on to getting that first one and then jump to your second translated into action rather than overanalyzing. So on your show, you've got a lot of great resources of turnkey providers.   Speaker 3 (00:42:29) - In many of the markets that I'm in pick market, take action and jump in. You'll be so much farther ahead by taking action than by studying and running formulas and spreadsheets. Get into the game, buy the first property, buy the second push with some short term goals, and then all of a sudden you're using all of these economic forces to get ahead in life and they're not fighting against you. And I think what that does is now you're swimming downstream, so to speak, rather than fighting upstream. That's what all these inflationary forces that you talk about all the time do. So get in, start swimming downstream, join it. I want to see more people in America that have freedom and have some independence and are benefiting from the economic forces rather than getting crushed by those same economic forces.   Speaker 1 (00:43:21) - And it starts with just getting your first base hit. Well, this has been terrific, Scott. How can our audience learn more about you?   Speaker 3 (00:43:29) - I've got a website up. It's my name, so it's Scott R Saunders.   Speaker 3 (00:43:35) - Sanders And that's got a little more background. And I've got for people that are interested, I put together a course of how to kind of get into single family and scale it and grow it. So for those that is appropriate, I'm happy to be a resource in that department there at that website.   Speaker 1 (00:43:54) - Scott has been such a great chat. Our audience is going to benefit from it. Thanks so much for coming on to the show.   Speaker 3 (00:44:00) - It's been a blast. Thanks, Keith.   Speaker 1 (00:44:07) - Yeah, great stuff from Scott. We do a lot of things the same way as far as having remote managers in multiple markets. I've also never seen most of my properties in person, nor do I need to. We often buy multiple properties at once. I like to buy at least two single family rentals at a time to make things more efficient. But big picture, we are not postponing life and are traveling to great places. As I'm fond of saying, some delayed gratification is good, but the risk of too much delayed gratification is denied gratification, which is the road of the 401 plan, which is also known as a life deferral plan.   Speaker 1 (00:44:49) - Scott is currently meeting with our provider of Chattanooga Properties on Marketplace. It is rare to see Crest buying properties in Jerry Marketplace. I guess I'm actually not sure we might have to turn him onto it so that he can quit one of those part time jobs. He's got pretty cool part time jobs, though. He's not breaking his back like a longshoreman. Yeah. Jerry Marketplace. That is where you find the right properties that really are just never going to make it out onto the open market at all. And they're the ones that are conducive to this strategy. Lower cost properties that have a high ratio of rent income to a low purchase price, they're typically fully renovated with a tenant from day one where an experienced manager also manages it for you from day one, if you so choose. And it's free. Just creating one log in one time like thousands of others have, gives you access to nationwide providers. We've even got free coaching for you there if you so choose. Knowledge really isn't power in itself. Knowledge plus action is what's powerful.   Speaker 1 (00:45:56) - Get started at GRC marketplace.com until next week I'm your host Keith Winfield. Don't quit your day dream.   Speaker 4 (00:46:07) - 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.   Speaker 1 (00:46:35) - The preceding program was brought to you by your home for wealth building get rich education. Com.    

Grandpa told me to save money and buy a fixer-upper. What about paying off my mortgage ASAP? Learn why I rejected it all. Changing attitudes towards debt and savings began with high inflation in the 1970s.  I compare global home prices and their changes since 2010.  Projects for $300K starter homes are going extinct in America. Keith Weinhold and Naresh Vissa describe the upcoming webinar for new-build properties in Florida—single-family homes up to fourplexes.  It will offer incentives that are even better than the 2% closing cost cash and two years of free property management. Join next week's Florida properties live event at: GREwebinars.com Resources mentioned: Show Notes: www.GetRichEducation.com/446 Sign up for our Florida webinar next week: www.GREwebinars.com World Housing Prices Since 2010: https://www.visualcapitalist.com/cp/mapped-global-housing-prices-since-2010/ $300K Starter Homes Going Extinct: https://finance-yahoo-com.cdn.ampproject.org/c/s/finance.yahoo.com/amphtml/news/300-000-starter-home-going-151338810.html Get mortgage loans for investment property: RidgeLendingGroup.com or call 855-74-RIDGE  or e-mail: info@RidgeLendingGroup.com Find cash-flowing Jacksonville property at: www.JWBrealestate.com/GRE Will you please leave a review for the show? I'd be grateful. Search “how to leave an Apple Podcasts review”  Top Properties & Providers: GREmarketplace.com Best Financial Education: GetRichEducation.com Get our wealth-building newsletter free—text ‘GRE' to 66866 Our YouTube Channel: www.youtube.com/c/GetRichEducation Follow us on Instagram: @getricheducation Keith's personal Instagram: @keithweinhold   **Speaker 1** (00:00:01) - Welcome to GRE! I'm your host, Keith Weinhold, learn why I rejected my grandpa's advice about debt and real estate. Global home prices have surged not just since 2020, but really for the last decade plus. How does America compare to the world there? Then the real estate market heats up in Florida. All today on Get Rich Education, **Speaker 2** (00:00:28) - You are listening to the show that has created more financial freedom than nearly any show in the world. This is Get Rich Education.   **Speaker 1** (00:00:51) - Hey, welcome to GRE from England's White Cliffs of Dover to Dover, Delaware, and across 188 nations worldwide. I'm Keith Wein. Hold. This is Get Rich Education. The fact that you want to get lots of good real estate debt, even now that real estate interest rates are off their all time lows from a couple years ago and really most all interest rates. You know, I think to the lay person, it is one of those things that is easy to understand and yet hard to accept to get more debt. Since Americans have near record equity levels. Now, not enough people even ask where that equity came from. I mean, look, you probably don't have a big equity chunk in your home because you paid it down. You have fat equity in your home because it increased in value. Yeah, that's leverage, which was brought into existence by debt. Now lay people can understand that, but yet it's hard to accept that truth.   **Speaker 3** (00:01:59) - What you've just said is one of the most insanely idiotic things I have ever heard. At no point in your rambling, incoherent response, were you even close to anything that could be considered a rational thought. Everyone in this room is now dumber for having listened to it. I award you no points. And may God have mercy on your soul.   **Speaker 1** (00:02:26) - . Yeah, yeah, yeah. That's from an old school movie, Billy Madison from 1995. But did you ever get a reaction or a look like that when you shared abundantly minded G R E principles with them? , debt free doesn't make sense. The wealthiest people have the most debt. The wealthiest and most powerful nation in the world has the most debt. But some people will still clinging to old ways of thinking. They'll rationalize that debt is bad now because we'll say interest rates aren't as low as they used to be. All right, true. Well, also on the flip side, debt is better when inflation is high because it debases that debt. Inflation and interest rates tend to move in lockstep. So therefore, weather interest rates are high or low. That line of thinking cancels out. And of course, 10 is keep debasing your debt by paying down your principle for you no matter how inflation and interest rates are moving.   **Speaker 1** (00:03:27) - And this all plays into how I was taught to think about money myself growing up, including the influence of my own grandfather. And I would go on to reject my grandpa's advice as a kid. Grandpa told me to save money. You certainly heard that growing up when I was about 20, I was visiting my grandparents on college break. And I still remember when grandpa told me that when it's time for me to buy my first house, I should buy a fixer upper. And though he never told me this next thing, he probably would've encouraged me to pay off your mortgage fast. I bet he would've said that one. Well, he meant well. And though I didn't deliberately spur him, I have gone on to disregard all of my late grandpa's financial guidance. He was a great guy. Grandpa served in a war. He and grandma raised my mom and uncle in a small, simple farmhouse on a 13 acre farm in rural Berks County, Pennsylvania.   **Speaker 1** (00:04:31) - And besides raising livestock and growing crops, he was an electrician by trade. He was an even tempered guy with a wiry frame. And grandpa taught me how to fish for bass in their small farm pond, all with his usual thin smile. And he had a wooden trademark kind of toothpick, pursed between his lips a lot of times. But see, grandpa was born and raised in a pre 1971 world. His concept of money was shaped before Nixon deg the dollar from the gold standard. And as we know, inflation ran rampant after Nixon D pegged the dollar from gold. And then in the 1980s, the Bureau of Labor Statistics, they began to sharply manipulate the way that the consumer price index that had line inflation figure is calculated. They used waiting tricks and other tricks to make the soaring inflation figure appear smaller than reality. Well, I was born and raised in a post 1971 world, so rather than focus on saving money, I want to get out of dollars before they're debased by inflation.   **Speaker 1** (00:05:42) - I never bought a fixer upper home though I truly admire grandpa for it. I didn't have the D iy, an electrical skillset that he did that just didn't come naturally to me. And now admittedly, and at its worst, maybe you can say that I'm part of the reason that Americans are less resourceful, or rather, perhaps American life is better. Or maybe it's that with progress, we're all specialists. Now I'd rather pay more for a home that's already new or renovated This way I spend my time, that zero sum game resource of time. I can spend that on my best and highest use and not texturing drywall and not hanging cabinets and not laying tile. I borrow dollars, not save them on rentals, both tenants and inflation payback the debt. So inflation flips dollars upside down, and grandpa might not believe how iconoclastic I sound. Now, the heresy today, I borrow invest and own assets that create residual cash flow.   **Speaker 1** (00:06:53) - And I would even spend dollars in some cases before they're debased. And along the way, I provide contractors and service providers with work. I employ an ongoing property manager and I provide families with good housing. I doubt the grandpa knew about how debt compounds the power of financial leverage. There's something good to be said for hard work, you know? And my grandfather showed me that on the farm, maintaining the tractor, loading the coal bin, harvesting crops and feeding the chickens. I mean, dude was amazing. He was like the showy otani of skillset diversification. But the world changed over the long term. Today's abundance mindset beats grandpa's grind. I love him for wanting the best for me. Grandpa never wavered on that. Ultimately, really, he equipped me to learn what's best for me and what's best for others. And I know I'm preaching to the choir here because our Instagram stories poll about paid off properties.   **Speaker 1** (00:07:58) - It asked you this question, which one do you prefer to pay off your home A S A P, or to leverage up and don't pay it off? Okay? How do you think that result went? Well, the percent that said pay off your home ASAP P was only 16. And those that said leverage up and don't pay it off is 84%. Yeah, you get it. 84% would rather leverage up and keep borrowing against it rather than pay it off your own home is some of the best debt you can get low rates, fixed rates along payback period, and you can legally kind of reneg and go get a lower rate when they fall as well. And mortgage terms are not quite as good on your rental properties, but they are still advantageous when you go compare that. And you know, really another way to think about it is, if you've got a 500 K home, why would you tie up 500 K in your home?   **Speaker 1** (00:09:05) - You could perhaps have just 100 K tied up in that home or in that rental property. Now, I've talked to you before about how many advanced world economies, foreign nations, they have house prices that vastly exceed prices in the United States. Canada's home prices are almost fully doubled that of us home prices right now. Well, I've got some great stats here. They are sourced by the bank for international settlements on not the international house prices this time, but how those prices have changed since 2010. Okay? So what we're looking at here is 2010 all the way up through Q2 of last year. So 2010 all the way up to the middle of last year. And these are all inflation adjusted. So we're talking about a change in real prices. US property was up 63% in that time, basically about the last 12 years. But the United States is not one of the top 10 countries for home price growth over that period.   **Speaker 1** (00:10:10) - And here those countries are number one for growth is Iceland at 103%. Second is Estonia at 97%. Third for world home price growth is New Zealand at 97% as well. Chill at 95% Turkey, 91% Canada up 90%, the top 10 for home price growth are rounded out by Luxembourg, Hong Kong, Hungary, and Israel. They're all between 80 and 85% inflation adjusted price growth over those about 12 years. So they're all greater than the United States, which again was up just 63% over that long period. That makes American home value seem somewhat cheaper when you think of it through that perspective. America is the envy of the real estate world. It's not just our rule of law and high property ownership rights and strong diverse economy. It's that it's one of the few places in the world where you can lever up this much and still get cash flow and at these terrifically advantaged debt term terms.   **Speaker 1** (00:11:19) - And on the flip side, now we look at the worst nations for price appreciation over the last 12 years. It is a story of price contraction. Prices have dropped in these nations. Okay, so these are the worst five. And let's see if you can guess at what all five of these have in common. Those five worst are Spain, Romania, Italy, Greece and Russia. Russia being the worst at minus 33% inflation adjusted house prices. And yeah, do you know what all five of these nations have in common? All five are losing population and losing the real estate prices with them. All right, well what about the United States? How does our population growth look for the future? What we are just about surpassing the one third of a billion people mark. Now we'll have 336 million people by the end of this year. And over the next 30 years, we're expected to have a population increase from 336 million this year up to 373 million Zen 30 years from now.   **Speaker 1** (00:12:34) - And the proportion from immigration is expected to increase while the proportion from the birth rate wanes. And of course, this contributes to the growing renter society in America because people have a harder time affording the entry level home. And you know, really the entry level home threshold that is now largely considered to be right about $300,000. Yeah, that's about two thirds of the value of today's median priced home and housing market research firms Zda. They tracked home prices and home projects across the country and they found, as you might expect, that the share of new projects for homes under $3,000 is declining rapidly all across the country. From Texas to California to Colorado to Ohio, they are vanishing everywhere. 300 K homes aren't just being diminished in creation, they're just completely gone from a lot of markets. Now this share of projects under 300 K are just completely non-existent.   **Speaker 1** (00:13:46) - Yeah. Now coming in at 0% of the market for Riverside and San Bernardino, California. Now of course coastal California, new 300 K homes, they are long gone. But Riverside and San Bernardino, they're about 50 miles inland. They're less expensive markets. Those properties are gone there in Sacramento, they are gone in Denver, 300 k properties are gone. So the swath of non-existent new build 300 k single family homes is growing and increasingly just nowhere to be found. But we have found a place where these properties do still exist in. It's in an American in migration. Hotbed straight ahead, listen to our in-house chat about this and the overall warming temperature of the real estate market and a cool upcoming Jerry event to tell you about where I'd love to see you there. I'm Keith Reinhold. This is G R e with jwb Real Estate Capital. Jacksonville Real Estate has outperformed the stock market by 44% over the last 20 years. It's proven to be a more stable asset, especially during recessions. Their vertically integrated strategy has led to 79% more home price appreciation compared to the average Jacksonville investor since 2013. J W B is ready to help your money make money, and to make it easy for everyday investors, get started@jwbrealestate.com slash gre. That's jwb real estate.com/gre.   **Speaker 1** (00:15:23) - GRE listeners can't stop talking about their service from Ridge Lending Group and MLS 4 2 0 56. They've provided our tribe with more loans than anyone. They're truly a top lender for beginners and veterans. It's where I go to get my own loans for single family rental property up to four plexes. So start your pre-qualification and you can chat with President Chaley Ridge personally. They'll even deliver your custom plan for growing your real estate portfolio. start@ridgelendinggroup.com.   **Speaker 4** (00:15:56) - This is Rich Dad advisor, Ken McElroy. Listen to Get Rich Education with Keith Wine Hold and don't quit your daydream.   **Speaker 1** (00:16:14) - Hey, well I'd like to welcome in GRE's in-house investment coach in Naresh. Now maybe you've never bought a property out of state before and for almost a year and a half, he has personally one-on-one been helping you with that and with your overall investment strategy. And then he gets you matched up with the right financing and direction in actual property addresses through G rre marketplace. And he does that for you free. Hey Naresh, welcome back outta the show.   **Speaker 6** (00:16:41) - Hey, thanks Keith. It's been a while, but looking forward to talking about this great real estate market.   **Speaker 1** (00:16:46) - You are often dealing directly with the providers and you also know what buyers are looking for too, our audience. So just talk to us about the overall state of the income property market today.   **Speaker 6** (00:16:56) - Yeah, well I want to go back a few months and talk about how the market was a few months ago and how it is today. Because I think you can really talk about how things are going, but when it's compared to something else. So if we go back a few months to let's say November, 2022, so this was pretty recent, we're talking about five months ago or so. Yes. The activity in the real estate buying process, just real estate in general building the activity was slim. There were very few people contacting me. There were, if you look at the publicly listed data, there was definitely a slowdown. If people were to look at their own properties and look at a chart of their property values, they'll see that there was uh, a plummeting of asset values. And that was November, 2022. And what's happened since then, because the Federal Reserve, as you've talked about, has slowly hiked up interest rates and interest rates have gone up, mortgage rates have gone up.   **Speaker 6** (00:17:59) - What happened is sellers, agents, wholesalers, brokers, builders, they didn't wanna see a crash. And what they did was they started honing up some of their own capital to incentivize buyers to make up for that higher interest rate. So now we fast forward from November where there was no activity. I mean literally we had zero activity at G R E, not even a single inquiry on a property. So we've gone from that to providers providing incentives like, Hey, the price is negotiable. This is just sticker price. Let's negotiate like we're at a car dealership to free property management for one year or even two years, or free home insurance for one year or two years or 2% closing cost credits or X amount of X thousand dollars off closing costs. The incentives go on and on and on. These were not available in 2022 because we saw a super hot real estate market with a ton of buyers all of a sudden turn into a dead real estate with no buyers.   **Speaker 6** (00:19:11) - So people who are concerned with the state of the real estate market right now, they might say, oh, you know, the interest rates are so high, these incentives cut down on that interest rate. So your lender may quote you for a 25% down payment. And that's the other thing, because of the market we're in, 25% is the best you're gonna get paying no points. If you pay 20% down, now you're gonna have to pay points to buy down that rate and, and those points don't go towards your equity, you're just buying down the rate. So anyway, with that being said, for 25% down with these incentives, we're now looking at the mid to high five. So five and a five to 5.9% interest rate, which is, I mean we're at 20 18, 20 19 levels at that point. So the state of the real estate market is still very strong.   **Speaker 6** (00:20:03) - It's healthy. There's a lot of activity now with buyers, with investors, home builders. We work with a ton of builders. They're essentially trying to sell off all the builds that they were permitted for three years ago, two years ago. So builders aren't building as much as they were like after the lockdowns were lifted in 2020 and they started building like crazy. And this has again, increased the demand of housing where they built a lot and now they're not building, they're just looking to sell what they currently have that hasn't been sold yet. So with an influx of people, we're seeing a baby boom. We have politicians talking about a bigger baby boom within the coming years and more immigration that only increases a demand for housing. So yes, right now is still an excellent, excellent time to buy. November of last year, not so much. But right now, yes,   **Speaker 1** (00:20:57) - It's a paradox with this nationwide dearth of housing supply and knowing that that problem is even more chronic in the entry level space that make the best rentals. Considering those factors, you would think that builders and providers wouldn't need to offer any incentive at all. But they have been recently. Some of them are continuing because of what's gone on in the mortgage market and with mortgage rates. So really that's nationally. And then talk to us about the geographies that we work in that tend to be in the Southeast and Midwest and in the inland northeast.   **Speaker 6** (00:21:35) - Yeah. Well first off, I, I wanna say that we work with a ton. Not all of our partners or providers are offering incentives, but I would say we just happen to work with a majority of them. So if you're listening and you're like, huh, he said a rent guarantee or a two years free property management or free closing costs, if these strike a fancy, then definitely reach out to me because I can share with you the best properties offering such and senates. And these are older properties, these are new construction. There are no more pre-construction that we're dealing with. Cuz like I said, pre-construction is, so two years ago, three years ago, those pre-construction properties are now available for sale and for closing within 30 days. So reach out to me, NAI, and A R E S h I get rich education.com if these interests you.   **Speaker 6** (00:22:28) - Now, as far as who we work with, like who's offering such great deals, what markets we, Keith are still seeing, I would identify two particular markets in southeast South, if you wanna say the south eastern part of the United States. So number one, all of Florida, Florida is still the hottest market that we're dealing with. Our providers are all offering big incentives and we're seeing homes rented really quickly because as you've covered, Florida has become a hotspot along with Texas as a destination over the past three years. And that continues to be the trend. In fact, Ocala, Florida, which we have tons of properties available in Ocala, Florida, brand new constructions, even quads, many of our buyers are so hungry for quads because it's the closest thing to multi-family. And we finally have quads available in a market like Jacksonville, Florida, Ocala, Florida, San Antonio, Texas.   **Speaker 6** (00:23:29) - We have a quad available there. That's a really hot market as well. But I want to bring up Ocala, Florida because U-Haul, the famous trucking transportation company U-Haul has a very good pulse on where people are moving, where their rentals are being rented, right? And the number one destination they found for the year 2022 was Ocala, Florida. So that's an area, it's the world has equestrian headquarters, the largest retirement community in the world is a half an hour away from there. So you have a ton of people servicing these very wealthy elderly people to 55 and up community. So a lot of healthcare, a lot of service industry. You have a lot of it jobs, engineering jobs, because Gainesville, which is home to the University of Florida is only 40 minutes away. And Ocala is more affordable than living in that retirement community is called the Villages very pricey because it's like its own world over there.   **Speaker 6** (00:24:32) - I've been there a couple of times. And then Gainesville also is quite pricey with the university and with the tech community there. So Ocala has become the next biggest city that's not completely rural farmland that has any sense of modernity. And so yes, I'm identifying all of Florida, specifically Ocala, but then also Memphis, Tennessee for older rehabbed properties, both Memphis, Tennessee and Little Rock, Arkansas. We're seeing a lot of activity there because they are lower priced entry level homes. They're rehab properties, fully rehab, turnkey, gutted. So these are properties anywhere from a hundred to $150,000 in Memphis and about 120 to 170,000 in Little Rock. So we work with a provider there who has a lot of inventory and they are also offering some pretty incredible incentives that our other partners in Memphis are not offering. That includes two years closing cost credit. That includes free property management for two years. And it also includes a mortgage guarantee. So if they're not able to rent out your property, they will pay your mortgage for you until they find a tenant who will uh, tenant that property.   **Speaker 1** (00:25:51) - Ah, somewhat different than the rent guarantee that sometimes we hear about where they will pay the market rent for you if you don't have a tenant in the property, but it's paying your mortgage for you.   **Speaker 6** (00:26:00) - Exactly. So you just send them your mortgage bill and, and they will pay it. But I will say the reason why they offer this is because they're putting their money where their mouth is. They're so confident that they will, that both Little Rock and Memphis, just like Florida, have become very strong places for people to move to because they're affordable. And you want to be buying real estate in affordable places because A, it's affordable for you and B, it's gonna be affordable for your tenants, which means you're gonna have a greater tenant pool to fill that property.   **Speaker 1** (00:26:31) - Yeah, so Memphis and Little Rock, some of the most affordably priced cash flowing markets in the nation. And yes, these prices, 100 to 150 K for you Californians and New Jerseyans and New Yorkers. We're not talking about the down payment, we're talking about the total purchase price of a home in a safe neighborhood that can attract a respectable tenant in places like Memphis and Little Rock. And then when it comes to Texas and Florida, you mentioned U-Haul, they put out annual reports where they actually give some really good migration data to the real estate market, but with all the in migration to places like Florida and Texas and the rest, sometimes I wonder how does U-Haul handle, like all their trucks end up in Jacksonville after a few months or all their trucks end up in a place like Ocala or Central Florida where so many people are moving. It's just interesting to think about what they do with that problem. They need to get all their trucks back out of places like that after all of the in migration. And because Florida, it really is so predictable that the in migration will continue. It's been such a long trend it picked up during the health crisis and we have an upcoming webinar in Florida. Tell us about that.   **Speaker 6** (00:27:44) - Yeah, well this is with one of our hottest Florida providers. They've been hot because of a special, you've mentioned it on your podcast, you've mentioned it in your newsletter. I've mentioned it in my communications with students and clients. They had a two plus two program of two years free property management plus 2% closing costs. But we're doing a webinar with them next week. It's going to be next Tuesday evening. If you go to g r e webinars.com, g r e webinars.com, you can find out about the webinar and also register for it. They've gotten rid of that two plus two program because they are unveiling a brand new promotion, a brand new program that is even better than the two plus two. So if you missed out on the two plus two, we're right now in this two and a half week period where there's no promotion and you have to pay retail price.   **Speaker 6** (00:28:44) - But if you stick through it, join us on the webinar next week. They are, like I said, they'll be announcing a brand new promotion that is the two plus two was an incredible, incredible program. I think this is way better than even the two plus two. So this is certainly exciting. They're gonna be coming on the webinar talking about Ocala like we just talked about. They have built the quads in Ocala that we have available. They've built duplexes, single families, and not just in Ocala but all around Florida. And they are offering incentives and discounts to sell these properties. So highly recommend people. Check out G r e webinars.com to register for that webinar next Tuesday evening.   **Speaker 1** (00:29:29) - All right. And for our group attendees on our webinar there, you're gonna have incentives for these new Build Florida properties, oftentimes single family homes up to four plexes and larger that are even better than the 2% closing cost cash at the table for you. And even better than that two years free property management. They are gonna roll that out to you at the webinar next week that you want to be sure to attend. We'd really like to see you there. That is our live event on Tuesday, May 2nd at 8:30 PM Eastern, 5:30 PM Pacific. And the rest is starring in that one. It is completely free for you to attend and the benefit of you attending it in person is it is live. And you'll have a chance to ask questions and maybe we have another attendee that asks a question that you didn't think about asking. That's a really good question. So you can kind of crowdsource all the questions and ask a question yourself there at the live event@grewebinars.com. Do you have any last thoughts, Lorre?   **Speaker 6** (00:30:33) - Well, I will say this, one of the best parts about the webinar for serious buyers who are looking for that next deal is our provider will be providing the best deals they have available. So they're coming with two to three of their best deals. So this isn't one of those things where it's like, oh, you know, NAIA is just gonna send me an email after and I'll see everything. Or I'll watch the webinar replay. Yes, there will be a webinar replay, but the chances of those two deals being sold out during the webinar are extremely high because of the incentives and the deals that the provider is providing. So I highly recommend try to make it live. You want to get in on these deals. Uh, if you miss the webinar, hey, not to worry, we're going to have the replay. Maybe, uh, they'll have some other properties that are comparable, available for sale too. But you wanna be there live, get your questions out of the way and move quickly. Because our last webinar that we did, Keith for Baltimore, it was probably our best webinar yet. And we moved properties, we moved properties very quickly live on air. So that's why I just wanna let our listeners know, hey, things are really picking up in the real estate market. Again, things are picking up at G R E, so you don't wanna be left behind.   **Speaker 1** (00:31:51) - These are attractive incentives for path of Progress Florida, usually new build properties for you next week. Again, at G R E webinars.com. This is exciting stuff. Thanks for sharing this with us and the rest.   **Speaker 6** (00:32:05) - Thank you, Keith. Always a pleasure.   **Speaker 1** (00:32:12) - Yeah, well, 25% down in buying your mortgage rate down into the fives creates some cash flow. But as you'll see a next week's live virtual event, it is going to get better than that purchase prices on these brand new single family homes. They're still below 300 k, still in the 200 s in some cases. Yes. These are the property types that are quickly vanishing. Naresh can find both the good deals for you with the national providers that are actually giving incentives like the ones that we talked about. And this is all despite the fact that the product that you're buying is in really short supply sets for income properties, single family rentals, up to four plexes in Jacksonville and Ocala and elsewhere in Florida. And now if you wanna get ahold of Naresh for the latest on GRE Marketplace Nationwide Properties and who has the best incentives, you can go to G rre marketplace.com/coach and you can get free direction and coaching.   **Speaker 1** (00:33:17) - He would like to see you for next week's live event, though, besides just getting a solid fundamental education on what makes a durable income property market, Naresh and the Florida provider are gonna share with us just for webinar attendees, those even better than two and two in incentives for you. The incentives on the webinar. Yes sir. Even better than the 2% of your closing costs paid to you in cash and two years of free property management. Again, this is next Tuesday. It's May 2nd at 8:30 PM Eastern, 5:30 PM Pacific Naresh Stars. In this one. It is free to attend, get your questions answered, and get access to properties should you so choose. Be sure to sign up now while it's on your mind@grewebinars.com. I'm your host, Keith Wein. Hold. Don't quit your daydream.   **Speaker 0** (00:34:15) - Nothing   **Speaker 7** (00:34:16) - 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 on 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 L L C exclusively.   **Speaker 1** (00:34:44) - The preceding program was brought to you by your home for Wealth building. Get rich education.com.

Podcasts are becoming increasingly popular as a way to reach potential customers and build relationships with them. Hosting or guesting on a podcast can be a great way to grow your business, but it's not always about selling to the listener. That's because often your ideal audience is the person your are interviewing or being interviewed by. In this episode we go behind the scenes to understand how to use podcasts most effectively for business growth. Our guest is Michelle Abraham, founder of Amplifyou, described by Shark Tank alumni Kevin Harrington as North America's top podcast management company. Michelle and her team specialize in helping visionary entrepreneurs make, market and monetize their podcasts while making a lasting impact. They have been nominated and won countless awards and have launched & managed more than 400 podcasts in the last few years. Links mentioned in this episode: www.amplifyounetwork.com https://www.amplifyou.com/blueprint/ Other episodes about podcasting: Ep. 171 – The One About Relationship-Based Business Building (with Ben Albert) Ep. 125- The One About The Hub & Spoke Podcasting Framework (with Josh Tapp) Ep. 23- The One About Creating Strategic Alliances Through Podcasting (with Phil Pelucha) Ep. 21- The One About Podcasting for Business (with Naresh Vissa)

Jane Healey is the #1 Washington Post bestselling author of The Secret Stealers, The Beantown Girls, The Saturday Evening Girls Club, and the new book Goodnight from Paris.  Healey shares her journey as a writer and how she got her first book published after facing rejection from 70 agents. She also discusses the importance of having a day job while pursuing writing and the different pathways to success in publishing. Healey talks about her writing process, marketing strategy, and how she aims to publish one book every two years.  Are you an aspiring writer struggling to get published? In the latest episode of the Work From Home Show, bestselling author Jane Healey shares her journey to becoming a published novelist. Here are 5 lessons we can learn from her experience: Perseverance is key: Jane faced 70 rejections before getting her first book deal. She didn't give up on her dream, and neither should you. Have a day job: Writing can be a tough industry to break into, so it's important to have a steady income while you work on your craft. Jane worked as a product manager while pursuing her writing career. Consider different publishing options: There are different pathways to success in publishing, including self-publishing and traditional publishing. Jane won a crowdsourced publishing contest called Kindle First, which led to her dream editor offering her a publishing deal. Writing can happen anywhere: Jane has been known to write in skating rinks and school pickup lines. While she now has a home office, sometimes she needs to leave the house to focus on the first draft. Marketing is key: Jane invests in a publicist and uses social media to promote her books. She is also grateful for the support of readers and libraries in the New England area. So, keep these lessons in mind as you pursue your writing career. And don't forget to check out Jane's books, available on Amazon, Barnes & Noble, and other bookstores. Happy writing! Introduction [00:00:01] Introduction to the podcast episode and the hosts. Jane Healey's background [00:01:03] Discussion of Jane Healey's background and her journey as a writer. Working in tech and pursuing writing [00:03:05] Discussion of the benefits of working in tech while pursuing writing as a side hustle. Different pathways to success in publishing [00:05:09] Discussion of the different pathways to success in publishing, including traditional publishing, self-publishing, and independent publishing. Jane Healey's path to getting published [00:06:18] Discussion of Jane Healey's path to getting her first book published, including submitting manuscripts to agents and participating in a crowdsourced publishing contest. Discovering the Contest [00:08:40] Jane Healey talks about how she learned about the contest that helped her get her first book published. Different Paths to Publication [00:09:05] Naresh Vissa and Jane Healey discuss the various ways authors can get their books published. Writing Process and Location [00:10:08] Jane Healey shares her writing process and where she prefers to write. Frequency of Book Releases [00:12:46] Naresh Vissa and Jane Healey talk about the ideal frequency of book releases and how it affects marketing. Marketing and Promotion [00:15:04] Jane Healey discusses the role of her publisher, publicist, and social media in marketing and promoting her books. Web: www.janehealey.com   TRANSCRIPT Speaker 0 (00:00:01) - Forced to work from home by your employer laid off or feeling depressed at home. Do you wanna make money working from anywhere? We'll show you how to do it from your couch. It's time for another episode of The Work From Home Show coming to you from their homes in Austin, Texas, and Tampa, Florida. Here are your hosts, Adam and Naresh. Speaker 1 (00:00:28) - Hey everybody. Welcome to the Work From Home Show. Shout out to all our homies, homeboys, homegirls, home Trans, all the work from Homers out there. I'm Naresh Bisa. Today we have Jane Healy on the show. She is the number one New York Times and Washington Post bestselling author of The Secret Steelers, the Beantown Girls, the Saturday Evening Girls Club, and the new book Goodnight from Paris. Jane Healy, thank you so much for joining us on the Work from Home Show. Speaker 2 (00:00:59) - Oh, thank you so much for ha having me. I'm so happy to be here. Speaker 1 (00:01:03) - So are you a f would you characterize yourself as a full-time fiction writer Speaker 2 (00:01:08) - Now? I am, yes. Yeah, I wouldn't care for, you know, the first 10 years I was doing this, I wouldn't characterize myself as that. But yes, now I am. Speaker 1 (00:01:15) - Well, let's talk about those first 10 years, . Did you work a full-time job and do this on the side? Obviously it makes sense now for you to be full-time because you have all these New York Times and Washington Post bestselling books. But walk us through those first 10 years, how you got started, how you got your first book published. Speaker 2 (00:01:34) - Yeah, so, um, I was actually, um, back in the day I was a product manager in high tech, believe it or not. I was a, I was a whole different thing. And then, um, my daughters were born, uh, they're 19 and 16 now. And so I pivoted to doing, um, freelance writing with, so I would really, I was working from home actually doing whatever anyone would pay me for. So it was a lot of, I did a lot of magazines and journals and things like that, but also a lot of private client work. Um, but I'd always wanted to write novels. And my first novel, the Saturday Evening Girls Club is actually came from an article I wrote for Boston Magazine about, um, about the group and the pottery that they, um, that they made. And so that I worked on the Saturday Evening Girls Club, um, novel in the fringes of my life, I like to say, for about 10 years. And, um, and you know, the first time out I just, I tried to get it published. I got a, like, I don't know, I stopped counting at 70 rejections, I think , I don't even know. Um, but then in 2017, um, I finally got a break and that novel came out in 2017. Speaker 1 (00:02:39) - So your first book was published in 2017? Speaker 2 (00:02:42) - Yes. Speaker 1 (00:02:43) - And you, so that means you've come out with almost a book every two years if, if I'm not mistaken, correct. 20, Speaker 2 (00:02:50) - It's, that's exactly right. Yes. Yeah. Speaker 1 (00:02:52) - Okay, cool. So your background, you said you worked in tech. Is your background in business or technology, is that like what you did after college? Tell us a little bit more before you started working and how you ended up working in tech. Speaker 2 (00:03:05) - Yeah, that, you know, um, it, it was a, I, I'm from Boston, Boston area. There's a lot of tech companies. It was kind of a boom when I first got outta college. So, um, you know, and I knew, you know, I've always wanted to write novels, but I didn't know anyone who got outta college and just started writing novels and paid off their student loans and were able to move outta their house and, you know, all of that. So, um, so, you know, there was a lot of tech jobs and I always tell young people who wanna be, you know, who wanna write novels, I said, I always say, don't count out tech because, um, you know, you need to make a living. And tech, you know, the tech field always is always looking for good writers, good communicators, you know, and, and it's, it's fascinating. You know, there's always new technology is fascinating and changing all the time. So I, I always tell people like, don't, you know, don't rule that out because you can make a living and, and also pursue your dream of fiction on the side. Speaker 1 (00:03:57) - Yeah. And when, when you got started, there wasn't self-publishing, now you have self-publishing available, correct? Mm-hmm. , I, and, and of course you're not a self, you're New York Times Washington Post bestseller list. So you, you have your own publisher, you, you have your own agent most likely. But now it, it's easier. And we've done a few episodes in the past about how we recommend that you work a job, you work in tech, you work from home, and you do this on the side. And that's what I've been doing. I've, I've published five books, uh, self-published. Speaker 2 (00:04:32) - Oh, awesome. Speaker 1 (00:04:33) - Yeah. Through through my publishing company. Uh, and I'm a technical writer. I write mostly business, non-fiction, e-commerce technology. Speaker 2 (00:04:41) - Oh, okay. So we have that in common. Yep. Speaker 1 (00:04:44) - . Yeah. Not a whole lot of, of, of fiction though, but, but I think the important takeaway is, like you said, there are a lot of aspiring authors out there, especially fiction authors. Yes. And if you think you're just gonna quit your job and write a book or graduate from school and, and write a book, our recommendation is work that product manager work, work wherever. Yes. And, and write the book on the side. Speaker 2 (00:05:09) - That's absolutely right. Um, we're, you know, yeah, work with work the fiction as a side hustle for a while. And I, and I think you brought up an important, important point. We're in a really interesting time in publishing. Um, there's many different pathways to success now with, with independent publishing, self-publishing, traditional publishing, and um, you know, cuz I've had some friends who, you know, for years tried to get an agent, tried to get published, tried to get, you know, get that publishing deal and, um, a couple of them have broken out. One of them is a romance writer and she decided to self-publish. Um, and she put three books out, um, and had a very strategic marketing plan along with it, social media. And she's crushing it. She's crushing it as a self-published romance author. And I'm so thrilled for her. So that, you know, there's more than one path to success in publishing now. And it's, it's, it's evolving all the time. Speaker 1 (00:06:01) - So the, the important question that many people are wondering and people who do want to go the traditional route, cause it's very hard to go the traditional route. How did you get that first deal? Did you just submit manuscripts to publishers or did you meet an agent somewhere? Speaker 2 (00:06:18) - Yeah, so my path, again, there's a lot of different paths. I was, you know, the first time out w with those 70 rejections I mentioned , those were all from agents, you know, I mean, I think the traditional route you usually think of, like, you get the agent first, then you, you know, the agent shops your book to publishers and hopefully you get a, a publishing deal out of that. Um, so that didn't happen for me. I, you know, I, I wrote another manuscript that we'll never see the light of day. And then I took the Saturday Girls Club out like a year later and was like, you know what, I'm just gonna give this one more try. And I started putting my agent list together. But at the time there was, um, there was this contest, um, this Kindle first contest, um, and it was, it, it's no longer, it was only up for like a year, but basically it was like a crowdsourced publishing contest where you could, you'd put your manu, you'd submit your manuscript to this website. Speaker 2 (00:07:12) - It was run by Amazon. Um, and, um, people would vote for it whether they thought it deserved to be published or not. But I knew that I, I put it up there because I knew that agents and editors were also checking out that mm-hmm. that contest for pro projects. And I actually said when I put it up there the night before, I said, I'm really just doing this cuz I want Danielle Marshall from Lake Union Publishing to, to see it on there and offer me a publishing deal. And my husband was like, and I were just laughed like, yeah, sure. Like that's a pipe dream. And so I put it up on Kindle first and um, 30 days later I found out that I won. Now there was multiple winners on that contest. Um, was Speaker 1 (00:07:53) - This voting based? Speaker 2 (00:07:54) - Yeah, it was vote people voted for your PR on this website, um, as to whether you deserved a publishing deal. And it was an e-book publishing deal, which was not what I wanted either, but I was like, I have nothing to lose this manuscript. Speaker 1 (00:08:07) - Yeah, you gotta start somewhere Speaker 2 (00:08:08) - Sitting on my computer, . I might as well try. Um, so I, I I wanted the real deal, but I'm like, whatever, I'll give it a try. I'm just, you know, all the angles. And, um, so I won that. But then two days later, um, Danielle Marshall from Lake Union Publishing, um, de my dream editor actually called me and said, um, you know, we wanna publish the Saturday Women Girls Club. Speaker 1 (00:08:34) - That's awesome. And, and Speaker 2 (00:08:36) - Yeah, it was wild. Speaker 1 (00:08:37) - How did you find out about this contest? Speaker 2 (00:08:40) - Um, you know, it was, as you probably know, like I'm on a lot of writers, you know, writer inbox, different platforms, different groups and um, and people were talking about it and, um, on social media and everywhere else. And so that's, that's how I first learned about it. And, you know, it, it was only out, out and up there for like a year. But, um, but uh, it was long enough for for me to get on there and for Danielle to find my project. So that was amazing. Speaker 1 (00:09:05) - I think it's great because we've interviewed, we continue to interview a lot of number one New York Times bestselling authors and everyone has their own unique story as to how they got that first deal. We've never heard this before where you got it through a contest. We've had people who said they self-published a book, did really well, the, they sold the rights. We've had people say, you know, I just submitted a manuscript and, and boom, they liked it. Yeah. And we've had people like you who, or we haven't had, you're the first one who said, you got you, you got your foot in the door or your feet in the door through a contest. Speaker 2 (00:09:41) - Yeah, it, yeah. And that's, that goes to show you, um, there's many different paths to publication I should mention too, like I am, um, Amazon charts bestselling author, author number one on Kindle and, um, Washington Post bestselling, but not New York Times. I, I wanna just correct that just to, to let you know, I'm not sure if that, if you, you, you might have, uh, been given that detail wrong. Speaker 1 (00:10:02) - Well I'm sure your next book or the book you will eventually make the New York Speaker 2 (00:10:07) - Times . That's right, yeah, Speaker 1 (00:10:08) - That's the home and how much your books have. So I mean, your bulk books have sold super well. So do you write from home or do you have an office or what, what's your writing process? Speaker 2 (00:10:17) - I write, um, you know, I was with the Saturday Evening Girls Club cuz I was writing it between other writing projects and in the fringes of my life, I, I've, I can write pretty much anywhere including like skating rinks and school pickup lines and everywhere else. Um, I do have a home office now, which is nice. And I, I'm actually, we have a basement office cuz my husband's often working from a home now, like a lot of people. Um, so I'm in the basement hiding from my pets and people. Um, but yeah, I, I can work anywhere. Um, sometimes getting the first draft down is the hardest for me. I think it's the hardest for a lot of people and, um, I, I find it's better if I leave the house and I put my headphones on and I go somewhere where I don't have to be interrupted by laundry and other things . So, um, so the first draft I often have to like go somewhere quiet. Um, and just like the focus and the concentration, um, is better when I'm not at home. Speaker 1 (00:11:12) - So when you're at the skating rinks, pickup lines, are you writing on your phone or are you actually taking a laptop with you and like writing Speaker 2 (00:11:19) - The car? Oh yeah, yeah. Usually a laptop. Although, um, you know, sometimes, especially now if I'm like working on a new project and I mean, I'm, I'm, I will sometimes like dictate into my phone more than type, cuz I mean, I feel like I just, my fingers aren't small enough for that . So yeah. So yeah, I will all I'll, I'll sometimes dictate into my phone, um, you know, just so I won't just, so I won't forget frankly, like later on, um, if I'm, if I'm walking or running or in the car or wherever, Speaker 1 (00:11:50) - That's pretty impressive because I, I do a lot of writing on my phone, but to do it at random places, like pickup lines and, and skating rinks, especially fiction where like non-fiction, I feel you can go back reference, verify, if you forget something, it's EAs but fiction, you just have to write whatever in, in the moment. You have to write in the moment. Yes. Which makes it a lot harder because if you're in a pickup line and then you get interrupted by somebody who you're picking up and then it's like, that's, that thought is kind of gone. Speaker 2 (00:12:26) - . Yeah, yeah, exactly. It's not easy, but, but that's exactly why I, you know, like I said, sometimes I'm dictating, sometimes I'm, you know, whatever, whatever works right to get, to get the story down . Speaker 1 (00:12:39) - So are, are you planning to write more books maybe one every two years moving forward? Is that the long-term plan? Speaker 2 (00:12:46) - That is the long-term plan. I, I, you know, frankly with the amount of research, um, historical fiction requires, I, I don't think I could do it faster than that. I'm really in awe of, of writers who can, um, some writers can crank out a book a year. I just, that's just not, that's not how I work. I mean, just from just coming up with the i an idea that I think is compelling and fresh and new and, uh, you know, lesser known history, whatever it is, um, that takes time. And then research to see if there's enough there, there, um, to, you know, I like to use history and research as a jumping off point for stories. So, um, so yeah, the, the process, it takes me longer than, um, than some people, but, um, but you know, it, it works for me. So I'm ho uh, that's my plan is hopefully every other year, Speaker 1 (00:13:32) - I think once every two years is more than enough. And f from a marketing perspective, I just think if you're coming out with so much with one a year, e every book is gonna, essentially can cannibalize the previous book. Uh, whereas if you come out, you know, once every two years, once every three years, you can really focus on that book that comes out, promote only the, um, that's just how I feel from, from a market. I, I think it's overkill because we have interviewed authors who come out with one book a year, even two books a year. Yes. And, and you just lose track. When I read their, their titles, they're like, oh no, that was my book from six months ago. I just came out with one last week. And it's like, oh, uh, okay. And then, and then they'll promote their next book that's coming out in like three months after that. And it's like, this is, this is overkill. You know, why don't we just stick to one book? Speaker 2 (00:14:21) - . Yeah. I, I, I kind of tend to agree I, unless maybe, um, like I said, my friend, my friend who writes romance, like the, that market, um, those readers are hungry for, for at least a book or two a year. I, but yeah, for anything else, like I, I feel like this is enough and I don't want people to get sick of me , frankly. Like, I don't wanna be on your show next talking about another book, you know, so, so yeah, I, I agree with you. I think I, I think the pace of this, um, feels right to me. Speaker 1 (00:14:51) - And is it your publisher who's doing the marketing? Like you have a huge following, you're selling a lot of copies, you have a fan club, is it them or did you do anything on your own to develop your, your readership? Speaker 2 (00:15:04) - Yeah, you know, it's funny, it's a little bit of everything. Um, my publisher's super supportive. They do a lot of marketing. Um, but I also, um, have a publicist that I, I decided to, you know, invest in myself. I, um, I do a lot of social media, but I, I've tried to balance that. I, I've pulled back a little bit from that, frankly, because I think the most important thing is the work, you know, is, is due in the, is is writing quality books and, and if you spend too much time on social media, you don't have enough time for writing. Um, but yeah, I mean, I think it, I I think the hustle in publishing in in is real. And, um, and I, I've really been blessed with, um, you know, I have a, I have some really wonderful readers who have become friends over the past six years, and, um, and that's been terrific. I also have a lot of really supportive libraries in the New England area. So I'm, I'm doing a lot of talks at different libraries and bookstores, a lot of, some really great independent bookstores. Um, so that's, that's been really fun too. And, and, and they've been super supportive. So I'm, I'm really blessed in that way. Speaker 1 (00:16:09) - Jane Healy, thank you so much for joining us on The Work From Home Show. Check out her books on Amazon, Barnes and Noble, wherever books are sold. She is a number one Washington Post bestselling author of The Secret Steelers, the Beantown Girls Saturday Evening Girls Club, and her new book, which is on the, the stands right now. Goodnight from Paris. The website is jane healy.com. Healy is spelled H e a l e y Jane healy.com. Jane Healy, any final thoughts you'd like to share with our listeners or anything else you want to promote? Speaker 2 (00:16:48) - No, thank you so much. This has been a great conversation. I, you know, I, I feel like, um, you know, I didn't realize your background was a, as a writer as well, so it's always fun to talk to other writers about process and, and you know, where you're at with all of that. So it, this was a great conversation. Thank you. Speaker 1 (00:17:05) - No, thank you Jane. It's been a pleasure. To Wal our listeners, check us out at work from home show.com. That's www.workfromhomeshow.com. If you have any questions for us or comments, email us hello at work from home show.com. That's hello work from home show.com. Follow us on social media, we're on Twitter, we're on Facebook. Leave uss a review on whatever podcasting platform you use, iTunes, tune in Stitcher, et cetera. And until next week, keep on working from home.  

I'm a stay-at-home dad to two boys under the age of 4 years. To manage my stress, I place an emphasis on mental and physical activity - basketball, beach volleyball, tennis, yoga, meditation, chess, and sleep. I do one of these activities five out of seven days a week. How I stay focused and provide a formula to this practice. How I can accomplish everything while taking care of my sons 90% of the time I have homeschooled until 3 walks around the park basketball drills  soccer chess swimming MORE ABOUT NARESH: My book FIFTY SHADES OF MARKETING: Whip Your Business into Shape & Dominate Your Competition helps people work and make money from home so they can spend more time with their families. Naresh Vissa is the Founder & CEO of Krish Media & Marketing – a full-service e-commerce, technology, development, online, and digital media and marketing agency and solutions provider. He has worked with CNN Radio, Clear Channel Communications, J.P. Morgan Chase, EverBank, The Institute for Energy Research, Houston Rockets, Houston Astros, the American Junior Golf Association, Agora Financial, Agora Publishing, Stansberry Research, and TradeStops.  He is the #1 bestselling author of FIFTY SHADES OF MARKETING: Whip Your Business into Shape & Dominate Your Competition, PODCASTNOMICS: The Book of Podcasting... To Make You Millions, THE NEW PR: 21st Century Public Relations Strategies & Resources... To Reach Millions,  TRUMPBOOK: How Digital Liberals Silenced a Nation into Making America Hate Again, and the new book FROM NOBODY TO BESTSELLING AUTHOR! How To Write, Publish & Market Your Book.  He has a Master's Degree from Duke University's Fuqua School of Business and has been featured on USA Today, Yahoo!, Bloomberg, MSNBC, Huffington Post, Businessweek, MSN Money, Business Insider, India Today, Hindustan Times, and other domestic and international media outlets.  He hosts the brand new podcast, The Work From Home Show, which is rapidly growing during the SARS-CoV-2 pandemic. He lives in Tampa as a "stay-at-home dad and husband" with his wife and two sons. FIND HIM HERE: www.NareshVissa.com www.KrishMediaMarketing.com www.WorkFromHomeShow.com BECOMING PARENTS: Sharing stories about infertility, miscarriage, pregnancy, labor and delivery, bottle feeding, breastfeeding & relactation, self-care after birth, sex to get pregnant and after kids, birth options, to medicate or not to medicate, adoption, midwife vs hospital, the struggles, surprises, joys and exhaustion, and - holy cow - you've become a parent! WHAT NOW?! Jenn Taylor is Mom Of 18 (yes - 18 kids!). She has written the blog - Mom's Running It since 2011, has been a published author since 2016, and host of the Becoming Parents Podcast since May of 2017. She is an NLP Practitioner, Speaker, and has 15+ years in the foster care sector as both a parent and a trainer. Jenn spent 12 years as a doula, lactation consultant, and CBE trainer in The Bradley Method and Birthing From Within, and ran LaLeche League meetings with a passion for supporting women who have become Moms. Jenn is grateful to be a Certified Birth & Bereavement Doula® to help families struggling with grief and loss, as well as an Adoption & Surrogacy Doula. She is also married to an amazing man in Reno, NV, and is a runner, minimalist, and healthy lifestyle enthusiast. CONNECT WITH JENN! https://linktr.ee/momofeighteen --- Send in a voice message: https://anchor.fm/becoming-parents/message

Children have the potential to make us all take a deep look at our own lives. Their potential, their innocence, our desire to see them succeed brings hope into our lives but also concern that we're going to mess it all up. Adam Schroeder and Naresh Vissa are joined by Dr. Shefali to discuss recognizing behaviors in children (good and bad) and how we can help them, as well as how to transform things like anxiety into courage and confidence. Dr. Shefali is an Oprah contributor and multiple New York Times bestselling author of THE CONSCIOUS PARENT, Superpowered: Transform Anxiety into Courage, Confidence, and Resilience, Out of Control: Why Disciplining Your Child Doesn't Work... and What Will, and the new book A Radical Awakening: Turn Pain into Power, Embrace Your Truth, Live Free. Website: www.DrShefali.com www.WorkFromHomeShow.com

Get an insider look on publishing, podcasting and marketing with Naresh Vissa, Best Selling Author, Podcast Host, and Marketer who has worked with brands like CNN, Houston Rockets, and Clear Channel Communications! www.KrishMediaMarketing.com www.NareshVissa.com www.WorkFromHomeShow.com Let's CREATEIT www.bit.ly/createitlikeaboss --- Support this podcast: https://anchor.fm/create-with-katrina-julia/support

Leaving your full time job to pursue your passion can be a very daunting prospect. The security net is gone and you're on your own. Livia Blackburne made that leap and she talks with Adam Schroeder and Naresh Vissa about when she believed in herself enough to make the switch, how her journey has been, and how she's working today to make sure her success continues. Livia is a multiple #1 New York Times' bestselling author of Poison Dance: A short story, Midnight Thief, Rosemarked, and the new book I Dream of Popo. Website: www.LiviaBlackburne.com www.Patreon.com/WorkFromHomeShow www.WorkFromHomeShow.com

The year is coming to a close, so it's time to look back on 2022 before we take some time next week to look forward to 2023. Adam Schroeder and Naresh Vissa talk about their work from home journey this year, so audience (and guest) feedback, and what people are getting right and wrong about working from home. Website: www.WorkFromHomeShow.com

Finding sacredness in the ordinary can be a tough task. Making sure you incorporate "spiritual therapy" into your every day life to truly feed the soul is something every single person struggles with. Thomas Moore, author of the new book SOUL THERAPY: The Art & Craft of Caring Conversations, joins Adam Schroeder and Naresh Vissa to discuss ways we can all improve our lives through intentional acts of spirituality, even if you don't consider yourself "religious". Thomas is a bestselling author of Care of the Soul Twenty-fifth Anniversary Edition: A Guide for Cultivating Depth and Sacredness in Everyday Life, Dark Nights of the Soul: A Guide to Finding Your Way Through Life's Ordeals, A Religion of One's Own: A Guide to Creating a Personal Spirituality in a Secular World, and the new book SOUL THERAPY: The Art & Craft of Caring Conversations. Website: www.ThomasMooreSoul.com www.Patreon.com/WorkFromHomeShow www.WorkFromHomeShow.com

The pandemic was not kind to restaurant owners. Let alone someone who has opened multiple restaurants and tried to stay afloat. But, as all entrepreneurs do, one has to find a way to adapt and overcome. Chef Andrew Gruel joins Adam Schroeder and Naresh Vissa to discuss his business journey; how he's managed to buck the odds and build a thriving portfolio, as well as some tips for how work from homers can eat better, easier. Andrew is a judge on Food Network's "Food Truck Face Off" and host of FYI's "Say It to My Face!". He's also the founder, CEO and Executive Chef of Slapfish, a seafood restaurant franchise based out of Huntington Beach, California; Big Parm, a pizza restaurant in Tustin, California; and Two Birds, a chicken restaurant in Irvine, California. Website: www.ChefGruel.com www.SlapfishRestaurant.com www.86Struggle.com www.WorkFromHomeShow.com

After getting turned down by the big publishers, Christopher Rosow decided to bet on himself. He went out and self published his books, and before he knew it he was on the best seller lists and selling more copies than he ever could have imagined. Adam Schroeder and Naresh Vissa talk with Christopher about how he is able to position himself so well, what avenues he's taking to maintain control of his intellectual property, and how others can use him as a template. Chris is the bestselling author of Threat Bias: Ben Porter Series - Book Two and the new book Subversive Addiction: Ben Porter Series - Book Three. Website: www.ChristopherRosow.com www.WorkFromHomeShow.com

Imagine spending your entire life improving yourself in one area, to reach the pinnacle of your career by going to the Olympics, and then to end up with a potentially life-threatening syndrome. Are you mentally tough enough to get through that? "Swimming's Greatest Ambassador" Rowdy Gaines joins Adam Schroeder and Naresh Vissa to talk about his journey and how he was able to overcome the adversities he encountered. Rowdy is a three-time Olympic gold medalist swimmer, U.S. Olympic Hall of Fame member, member of the International Swimming Hall of Fame, and swimming analyst for television networks ESPN and NBC. Website: www.RowdyGaines.com www.Patreon.com/WorkFromHomeShow Photo by Brian Matangelo on Unsplash www.WorkFromHomeShow.com

We're in an age where technology has changed the landscape of the world completely. Adam Schroeder and Naresh Vissa talk with Elyssa Friedland about how today's environment has impacted her work. Elyssa is a multiple New York Times' bestselling author of Last Summer at the Golden Hotel, Love and Miss Communication: A Novel, The Intermission, The Floating Feldmans. Website: www.ElyssaFriedland.com www.WorkFromHomeShow.com

Achieving prominence in your field is tough for anyone; let alone a minority. Now imagine that world is Wall Street. Adam Schroeder and Naresh Vissa talk with Thomas W Jones about his rise through the system, handling tough situations at Citi during the Great Recession, and how he managed to start his own venture capital company. Thomas is the former Vice Chairman, President & COO at TIAA-CREF, the largest pension system in the country; Former Vice Chairman of Travelers, the Federal Reserve Bank of New York, and Freddie Mac; Former Chairman & CEO of Smith Barney Asset Management; Former CEO of Global Investment Management at Citigroup; Former Treasurer at John Hancock Insurance Company; Founder and senior partner of venture capital investment firm TWJ Capital; author of the new book From Willard Straight to Wall Street: A Memoir. Website: www.TWJCapital.com www.TomJones69.com www.Patreon.com/WorkFromHomeShow www.WorkFromHomeShow.com

There are a lot of places to go in this country; so many it's overwhelming at times. If you're a digital nomad, where should you go and what should you do? Adam Schroeder and Naresh Vissa are joined today by Joe Yogerst, author of the new book 100 Cities, 5,000 Ideas: Where to Go, When to Go, What to See, What to Do, to discuss what he's seen around the country and where Americans need to go to experience the country fully. Joe is a multiple New York Times' bestselling author of 50 States, 5,000 Ideas: Where to Go, When to Go, What to See, What to Do, 100 Parks, 5,000 Ideas: Where to Go, When to Go, What to See, What to Do, 100 Drives, 5,000 Ideas: Where to Go, When to Go, What to Do, What to See, and the new book 100 Cities, 5,000 Ideas: Where to Go, When to Go, What to See, What to Do. Website: www.JoeYogerst.com www.Patreon.com/WorkFromHomeShow www.WorkFromHomeShow.com

As you progress through your life and stop doing your old hobbies and let yourself grow lethargic, you need to do something to stay sharp and fresh. Hallie Bateman realized that if she focused on her art she could make a profound impact on many people's lives, which led to her best selling illustrations of books such as What to Do When I'm Gone: A Mother's Wisdom to Her Daughter and the new book DIRECTIONS: Really Good Advice for Getting From Here to There. Adam Schroeder and Naresh Vissa discuss Hallie's journey and what impact her books have had on her and her audience. Website: www.HallieBateman.com www.Patreon.com/WorkFromHomeShow www.WorkFromHomeShow.com

How often do you look up into the cosmos from your backyard? Do you have a telescope or equipment to do it? How would you teach it to your kids? Andrew Fazekas, The Night Sky Guy, joins Adam Schroeder and Naresh Vissa to discuss what caused his love for the stars and how we can pass that on to the next generation. Andrew is an astronomy and science columnist for National Geographic's StarStruck, Yahoo News, and the Montreal Gazette, syndicated correspondent for multiple television and radio broadcast networks including National Geographic and CBC-Radio Canada, previous national astronomy correspondent for The Weather Network TV, communications manager for Astronomers Without Border, Co-creator of the world's first open air augmented-reality planetarium experience in Canada, and #1 bestselling author of The National Geographic Backyard Guide to the Night Sky and the new book NATIONAL GEOGRAPHIC STARGAZER'S ATLAS: THE ULTIMATE GUIDE TO THE NIGHT SKY. Website: www.TheNightSkyGuy.com www.Patreon.com/WorkFromHomeShow www.WorkFromHomeShow.com

Society has changed a lot through the years, and some people are pretty certain it hasn't been for the better. Doug Giles joins Adam Schroeder and Naresh Vissa to discuss some of the changes that have taken place, whether they're good or bad, and what can be done about the ones that aren't for the betterment of humanity. Doug is the creator and publisher of ClashDaily.com; Co-Owner of The Safari Cigar Company; columnist on Townhall.com; Pastor at ClashChurch.com; author of the bestselling books Raising Boys Feminists Will Hate, Raising Righteous and Rowdy Girls, Pussification: The Effeminization of the American Male, and 10 Habits of Decidedly Defective People: The Successful Loser's Guide to Life. Website: www.ClashDaily.com www.ClashChurch.com www.Patreon.com/WorkFromHomeShow www.WorkFromHomeShow.com

There's a rise in stay-at-home dads in the world, but it's still decidedly one sided when it comes to quitting when children are born. Dr. Warren Farrell joins Adam Schroeder and Naresh Vissa to discuss how the pandemic and working from home has changed child rearing, whether it will keep up, and how we can save the mental health of our young kids. Website: www.Patreon.com/WorkFromHomeShow www.WorkFromHomeShow.com www.WarrenFarrell.com

So many people walk around lethargic, lacking the energy they need to live the life they want. There are changes that can be made that will help people achieve the life they want, and they don't have to be difficult. Joe Apfelbaum re-joins Adam Schroeder and Naresh Vissa to talk about this, as well as to tell people what activity we're doing is the "new smoking". Joe is the co-Founder and CEO of Ajax Union; bestselling author of High Energy Secrets: How I lost 95 pounds, kept it off and have higher energy levels than ever!, High Energy Answers: Questions your teachers and parents are too afraid to answer., and the new book High Energy Purpose: How to be all in on your life and find your truth. Website: www.Patreon.com/WorkFromHomeShow www.JoeApfelbaum.com www.JoeLinkedIn.com www.WorkFromHomeShow.com

How do you connect with your audience through platforms like LinkedIn? There are ways to properly use them, but you have to know exactly what to do if you want to maximize your business' success with it. Adam Schroeder and Naresh Vissa talk with Joe Apfelbaum about how you can utilize LinkedIn. Joe is the co-Founder and CEO of Ajax Union; bestselling author of High Energy Secrets: How I lost 95 pounds, kept it off and have higher energy levels than ever!, High Energy Answers: Questions your teachers and parents are too afraid to answer., and the new book High Energy Purpose: How to be all in on your life and find your truth. Website: www.AjaxUnion.com www.Patreon.com/WorkFromHomeShow www.WorkFromHomeShow.com

How do you lead from home in a way that you can manage those who like to do things their own way, who constantly question the reason things need to be done, who need to be praised, and every other team member out there? Adam Schroeder and Naresh Vissa talk with Alan Willett about all these things in today's show. Alan is the master of the "friction points" of organizations highly dependent on technology. He is an expert international consultant for Megacorps as well as prestigious universities. He is the #1 bestselling author of Leading the Unleadable: How to Manage Mavericks, Cynics, Divas, and Other Difficult People and the new book Lead with Speed: Fire Up Your Team, Power Your Engines of Development, and Make Your Organization Soar. Website: www.AlanWillett.com www.Patreon.com/WorkFromHomeShow www.WorkFromHomeShow.com

A good routine will put you far ahead of most people in life. But inspiration is what will put you over the top. Adam Schroeder and Naresh Vissa talk with Mark Sullivan about his time in journalism that led to his writing career and a stint atop the book rankings, all from home. Mark is a multiple #1 New York Times, Wall Street Journal, and USA Today bestselling author of Beneath a Scarlet Sky: A Novel, the Robin Monarch Series, and the new book The Last Green Valley: A Novel. Website: www.Patreon.com/WorkFromHomeShow www.MarkSullivanBooks.com www.WorkFromHomeShow.com

Nearly everyone finds themselves switching directions at least one time during their career. What you think you want day 1 turns out to be number 3 or 4 of what you ACTUALLY end up being passionate about. Adam Schroeder and Naresh Vissa talk with Bob Drury, experienced the same thing. From newspapers covering athletes to reporting on the battlefront, and now writing historical non-fiction about military history (mostly). Bob is the #1 New York Times' bestselling author of Blood and Treasure: Daniel Boone and the Fight for America's First Frontier, The Last Stand of Fox Company: A True Story of U.S. Marines in Combat, and the new book The Heart of Everything That Is: The Untold Story of Red Cloud, An American Legend. Website: www.Patreon.com/WorkFromHomeShow www.rfxdrury.com www.WorkFromHomeShow.com

Difficult times can make or break people. Change and transition are hard on even the strongest. But there are ways to break free from the fear that change can bring and blossom into what we're meant to be. Adam Schroeder and Naresh Vissa are joined by Elizabeth Lesser to discuss exactly this in today's world. Elizabeth is co-founder & Senior Adviser of Omega Institute, the largest adult education center in the United States focusing on health, wellness, spirituality and creativity. She's also a Popular TED Talk Speaker, One of Oprah's Super Soul 100, and New York Times Bestselling Author of Broken Open: How Difficult Times Can Help Us Grow, Marrow: A Love Story, The Seeker's Guide: Making Your Life a Spiritual Adventure, and the new book Cassandra Speaks: When Women Are the Storytellers, the Human Story Changes. Website: www.Patreon.com/WorkFromHomeShow www.ElizabethLesser.org www.EOmega.org www.WorkFromHomeShow.com

Customer service is more of a curse word than a service for clients in today's day and age. But it doesn't have to be. Mitche Graf joins Adam Schroeder and Naresh Vissa to discuss where companies have gone wrong and how entrepreneurs can deliver "6-Star" service to their clients to stand out in the marketplace. Mitche is the "Captain Of Small Business Branding" and host of Business Edge Radio; #1 bestselling author of Business Basics BootCamp: The Ultimate Crash Course and the new book Customer Service Is DEAD: Delivering 6-Star Service In A 1-Star World. Website: www.Patreon.com/WorkFromHomeShow www.PowerMarketing101.com www.WorkFromHomeShow.com

What makes a good person? This is one of the questions that Adam Schroeder and Naresh Vissa try to answer today with Dr. Dilip Jeste. Dr. Jeste has spent his recent time exploring whether there's a relationship between wisdom and loneliness, what wisdom actually means, and what it is about the core of people that makes them "good" or "bad". Dilip is Senior Associate Dean for Healthy Aging and Senior Care, Distinguished Professor of Psychiatry and Neurosciences, Estelle and Edgar Levi Memorial Chair in Aging, Director of the Sam and Rose Stein Institute for Research on Aging, and Co-Director IBM-UCSD Artificial Intelligence Center for Healthy Living at the University of California, San Diego School of Medicine. He is the former President of the American Psychiatric Association (APA) and co-author of the new book WISER: The Scientific Roots of Wisdom, Compassion, and What Makes Us Good. Website: www.Patreon.com/WorkFromHomeShow www.DilipJesteMD.com www.WiserTheBook.com www.WorkFromHomeShow.com