Podcasts about Redfin

Zillow and Redfin have reached a settlement with the Federal Trade Commission over a $100 million rental listings agreement that regulators said reduced competition. Redfin will now restart its rental advertising business, while its partnership with Zillow can continue. Kathy Fettke breaks down what happened, why regulators stepped in, and what the settlement could mean for landlords, property managers, renters, and real estate investors.   Do you want to invest in a rental property before the end of the year? We're here to help! Get your FREE PDF at www.Realwealth.com/90Days.   Source: https://www.cbsnews.com/news/ftc-settles-zillow-antitrust-case-redfin/

The Industry Relations Podcast is now available on your favorite podcast player! Overview Rob and Greg open with Greg's car breaking down in 112-degree heat outside Barstow, then dig into the FTC's settlement with Zillow and Redfin over their leasing business deal, which regulators viewed as an attempt to dodge merger review. From there, the two spend most of the episode debating a bigger question raised by Rob's recent exchange with Mike Wurzer: did the MLS create genuinely new value by aggregating listings, or was that value always meant for real estate professionals rather than consumers? The conversation ranges across aggregation theory, the history of IDX and portal dominance (Zillow, Redfin, realtor.com), whether companies like House Canary and paper brokerages even qualify as "brokerages," and the 2008 DOJ settlement's actual scope. It closes with a debate over how to legally define a broker at all. Key Takeaways The FTC pushed back on Zillow's attempt to acquire Redfin's leasing business without triggering merger review; the settlement requires Redfin to restart its own rental business, though it can still display Zillow rental listings. Rob calls the $100M settlement a "slap on the wrist" rather than a real penalty for either company. Rob's central argument: the MLS's aggregation of listings created value primarily for practitioners, comparable to Lexis Nexis and Westlaw's value to lawyers, not inherent value for consumers. Greg counters that aggregation itself creates new value regardless of who captures it, and that consumers clearly benefit from having listings in one place. The two trace the history of real estate going online — IDX, the rise of Zillow, Redfin, and realtor.com — and agree the portals won because they outspent brokerages on user experience. Rob argues the industry should unwind IDX in favor of straight data syndication to portals, separating "cooperation" (MLS's original purpose) from "data distribution" (a later add-on). Greg pushes back that most agents don't actually get leads from portals directly, but Rob argues that undercuts the case for IDX mattering to them at all. A long tangent debates whether entities like House Canary or paper brokerages qualify as "brokerages," and whether the 2008 DOJ settlement (about brokerage business-model discrimination) supports keeping IDX — Rob says no, Greg disagrees. The episode ends unresolved, with both agreeing to continue the debate and possibly bring Mike Wurzer on to discuss further. Links Debating Rob Hahn In Ohio: Are MLSs Killing Themselves? Continuing the Debate with Mike Wurzer Riposte with Rob   Connect with Rob and Greg Rob's Website  Greg's Website    Watch us on YouTube   Our Sponsors: Cotality  Notorious VIP The Giant Steps Job Board    Production and Editing Services by Sunbound Studios  

On today's episode, Editor in Chief Sarah Wheeler talks with Lead Analyst Logan Mohtashami about recent government actions and whether those will be able to lower mortgage rates. Related to this episode: What can the government do to lower mortgage rates? HousingWire | YouTube⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ HousingWire Mortgage Banking Summit – October 1 More info about HousingWire Top 5 Trending: NEXA Lending acquires UMortgage, adds Anthony Casa to exec team Fannie Mae reportedly cuts senior executives across business lines Zillow, Redfin reach last-minute FTC resolution before trial What can the government do to lower mortgage rates? loanDepot receives NYSE notice over sub-$1 share price Want more from Sarah? Don't forget to subscribe! The HousingWire Daily podcast brings the full picture of the most compelling stories in the housing market reported across HousingWire. Each morning, listen to editor in chief Sarah Wheeler talk to leading industry voices and get a deeper look behind the scenes of the top mortgage and real estate.

Housing affordability isn't just about home prices. A new Redfin analysis finds that housing and childcare for one child now consume about 52% of the typical working family's income nationwide—and in some expensive metros, the combined cost approaches an entire household income. Kathy Fettke looks at where families have the most financial breathing room, where affordability is stretched to the limit, and why rising childcare costs could force some families to delay homeownership and remain renters longer. Plus, what these changing affordability dynamics could mean for rental demand and real estate investors.   Get your Free PDF on which markets RealWealth Investors are choosing at www.Realwealth.com/AffordableMarkets.     Source: https://www.redfin.com/news/housing-childcare-costs-winnie/

Good companies don't automatically get noticed. And doing good work isn't enough to ensure that customers, investors, journalists, communities, or increasingly AI systems understand why your company matters.Melissa Baldwin has spent more than 20 years exclusively in energy and climate communications. As Senior Vice President at Tigercomm and host of the Scaling Clean podcast, she's had a front-row seat to what helps companies earn attention and trust, and what causes otherwise strong companies to remain largely invisible.Melissa and Nico dig into why communications is routinely underfunded, why executive silence is itself a strategic choice, and what the best companies do differently to become useful sources of information for their markets. Melissa shares examples from Zillow and Redfin, explains why proprietary data can create authority far beyond traditional promotional content, and makes the case for giving CEOs a much larger role in telling the company story.Then they turn to a rapidly changing question: what happens when discovery moves from Google search results to AI-generated answers? Melissa explains how longer, more specific prompts are changing search behavior, why mentions and credible third-party sources increasingly matter, and how companies can begin auditing whether they even show up when an AI system is asked who matters in their category. The conversation also explores why community engagement should be treated as project risk management and why developers need to begin earning local trust long before they need an approval.Expect to learn:

Success leaves clues. When I'm looking for vacant land markets, I don't try to guess where the next hot area will be. I follow the money and look for where people are already buying land.I start broad and quickly narrow things down from the country to the state, county, and eventually the specific zip codes where deals are happening. Using tools like LandWatch, Redfin, Zillow, ChatGPT, and the Land Portal, I can see where properties are selling, what acreage buyers want, and what they're willing to pay.Think of it like fishing with a depth finder. I don't want to throw my line into empty water and hope something bites. I want to see where the fish already are. Once I find those pockets of demand, I can build a targeted seller list, make intelligent offers, and focus my marketing where I have a much better chance of doing deals.What's Inside: —How I narrow my search from states to counties to hot zip codes—Using recent sales activity to see where buyers are spending money—How I use AI to quickly analyze land sales and pricing data—Why targeted seller lists beat spray-and-pray marketing

Today's Post - https://bahnsen.co/4hmEuE3 David Bahnsen hosts the Monday Dividend Cafe, recapping a quiet market day with the Dow down 60 points, the S&P essentially flat, and the Nasdaq down 32 bps, while noting rapid credit-spread tightening and the 10-year yield closing at 4.7%. Energy led sectors as oil rose over 5%, while REITs lagged; he highlights that most S&P 500 profit-margin expansion is concentrated in large tech rather than the broader index. PitchBook data show 33,600 unsold private-equity-owned companies globally, up year-to-date. On policy, the Senate recessed after voting to fund the government through mid-December, with no movement on a GOP budget blueprint or the CLARITY crypto bill. The key development was Friday's jobs report: 23,000 jobs lost, large downward revisions, and a lower unemployment rate driven by labor-force exits, reducing September hike odds to 50/50. Redfin data show widespread below-ask home sales, especially in Florida and Texas, and he addresses a listener question about faith references in his Friday piece. 00:00 Welcome and Agenda 00:24 Market Wrap and Rates 00:57 Credit Spreads and Risk 02:18 Sector Moves and Breadth 02:57 Margins and AI Divide 04:12 Private Equity Backlog 05:17 Friday Episode Plug 06:02 Middle East and Oil 06:28 Washington Policy Update 07:21 Jobs Report Shock 07:55 Fed Outlook After Jobs 08:43 Housing Price Softening 10:50 Energy and SPR Levels 11:29 Ask TBG Faith Question 13:49 Closing and Friday Preview Links mentioned in this episode: DividendCafe.com TheBahnsenGroup.com

Harvey Hancock and Simon Baker break down the latest US portal results from Zillow and CoStar Group.00:00 Intros06:13 Zillow's Q2 results and wider context09:57 Zillow layoffs and the AI efficiency question15:16 Realtor.com, Redfin, and the broader traffic trend19:32 Turning tire kickers into qualified prospects20:07 AI assistants as qualification and nurture tools23:36 CoStar Group, Homes.com, and revenue mix38:39 Depth advertising at Homes.com43:11 Final conference reminder

Andew Linn, Owner/Broker for ERA One Team, joins JMN and details incentives available to help home buyers. A recent Redfin survey estimates an average income requirement of +/- $110k to meet expenses associated with owning a single family home in Florida. Linn addresses fiscal and legislative measures to help buyers enter the market and make achieving the "American dream" affordable and accessible. Visit ERAONETEAM.COM to learn more.

Glenn Kelman ran Redfin for 20 years. He says the most important thing he learned had nothing to do with software.Glenn joins Jessica Neal and co-host Jeff Markowitz on Truth Works for an unusually honest conversation about love, leadership, boards, and the handful of decisions that actually decide a company's fate.Glenn is not your typical tech CEO.At 21 he tried to write a novel, got nowhere, and his girlfriend broke up with him for being unemployed too long. He nearly went to medical school twice. He co-founded Plumtree Software in 1997 and took it public, then almost got fired from the company he started. He joined a nearly dead real estate website that a Seattle VC had put $500,000 into, and spent the next two decades turning it into Redfin, a business that saved consumers roughly a billion dollars in commissions before Rocket acquired it for $1.75 billion.In this episode, Glenn traces the whole thing back to his older brother's struggle with alcohol, the emergency room doctors who kept fighting for a patient any business person would have written off, and the moment he decided he wanted to be good like that.He is candid about the parts most CEOs edit out. The board meeting where he quoted Yeats and Colonel Jessup from A Few Good Men. The walk with a Greylock partner that reset his entire relationship with his board. The rentals acquisition he financed with debt in 2021, right before the music stopped. Rewriting a single email 83 times because he could not figure out how to disagree with his new parent company's CEO.Jeff and Jessica bring two decades of executive search experience to the hiring question Glenn admits he never fully solved, including the advice from Jeff that gave Glenn permission to walk away from a candidate he had already taken to dinner, drinks, and references.━━━━━━━━━━━━━━━━━━━━━━TOPICS COVEREDFINDING THE WORK→ Why writing alone in a room made him depressed, and why business is just being creative with other people→ Working for three founders barely older than him and realising he could do it too→ Picking the big idea over the small one, and why ambition makes recruiting easier→ His brother's addiction, the ER doctors, and the decision to do something good inside businessHIRING AND JUDGEMENT→ Jeff's method: go in looking for every reason the person is wrong→ Never hiring someone you are not genuinely excited about, even when you have come too far to stop→ What negotiating severance reveals about a candidate before they start→ Why subjectivity is a feature, not a bug, and the Peter Chernin story behind itBOARDS AND CEO GROWTH→ How a fraught, adversarial board became one of his greatest assets→ Blaming the board when the real problem is the product→ The one question that turns a board meeting from a performance into a working session→ Why $50M seed rounds at $400M valuations have made honest board conversations harderLEADERSHIP AND THE HARD CONVERSATION→ Being too kind for too long, and the cost of hints instead of clarity→ Writing down what you need to say, then throwing the paper away and saying it anyway→ Getting nearly fired at Plumtree in a 30-second conversation, and the turnaround that followed→ Why founder mode has a real insight buried inside a bad excuse→ Making the call people disagree with, then calling them afterwards to replay their argument backWHAT HE ACTUALLY LEARNED→ Working 15-hour days when four or five one-minute decisions created more value than all of them→ Why he stopped trying to be the smartest person in the room→ Real estate agents, a sea of love, and how they changed how he sees business→ His closing gift to listeners: if people feel the love, they will forgive almost anything━━━━━━━━━━━━━━━━━━━━━━Subscribe for more honest conversations with the people who have actually built things.

Why haven't Michigan home prices crashed yet? In this video, I compare today's Michigan housing market with the 2008 housing crash and reveal the hidden number affecting many home sales: seller concessions.Using Metro Detroit MLS data, we'll look at what caused home prices to collapse during the Great Recession, why today's inventory and lending conditions are dramatically different, and how sellers are quietly adjusting without always reducing the recorded sale price.According to the national Redfin data discussed in this video, nearly half of recent home sellers provided buyers with some form of concession. That may include money toward closing costs, mortgage-rate buydowns, repairs or other credits. These incentives typically do not appear in the publicly reported sale price, which means the number you see online may not tell the entire story.

Send us Fan MailThe battle over private listings, office exclusives, MLS access, and who controls real estate inventory has officially reached Washington.In this episode I examine why Congress has launched an inquiry into Compass CEO Robert Reffkin and MRED, and why this investigation could reshape the future of residential real estate.For more than a year, I have argued that the biggest issue facing the real estate industry isn't commissions, buyer agency, or artificial intelligence—it's who controls the inventory. Now the House Judiciary Committee is asking many of the same questions.This episode explains what the July 22 congressional letters actually say, why Congress is interested in Compass' private listing strategy, and what it could mean for REALTORS®, brokers, MLSs, Zillow, Homes.com, Rocket, Redfin, buyers, sellers, title companies, lenders, and consumers.You'll also learn why this debate extends far beyond Compass and private listings. This is really about data ownership, vertical integration, competition, consumer choice, fair housing, antitrust law, and the future of the real estate marketplace.• Why Congress is investigating Compass and MRED• Robert Reffkin's three-phase marketing strategy• Why inventory—not commissions—is the industry's most valuable asset• The battle between Compass, Zillow, MLSs and portals• How private listings affect competition• Fair Housing concerns• Antitrust implications• Why data is becoming more valuable than commissions• Vertical integration and why everyone wants to own the consumer relationship• What this means for REALTORS®, brokers and consumers• Four possible outcomes from the Congressional inquiryCHAPTERS00:00 I Told You So01:35 Congress Enters the Real Estate Fight03:56 Why This Matters04:44 How We Got Here06:15 Compass' Private Listing Strategy08:40 Zillow, MLSs & Consumer Groups Push Back10:10 What Jim Jordan's Letter Really Says13:20 Why Congress is Looking at Competition15:35 Steering, Incentives & Vertical Integration18:00 Is This Really About Data?22:40 What It Means for South Carolina26:40 Four Possible Outcomes29:30 The Future of Real Estate32:55 Final Thoughts34:30 ClosingWhether you agree with Compass or not, this investigation has the potential to influence how homes are marketed for years to come.If you're a REALTOR®, broker, attorney, lender, title professional, appraiser, or anyone involved in residential real estate, this is an episode you cannot afford to miss.What do YOU think?Should sellers have the unrestricted right to market homes privately?Or should every consumer have equal access to every available home?Leave your opinion below.

The U.S. housing market is pretty weird right now. Whether you're a buyer, seller or a renter, it leads to all kinds of questions, like: How did we end up with a housing shortage? Is housing still a good investment? What policies might unlock the housing inventory held by baby boomers? So we called up someone with answers: Redfin's chief economist, Daryl Fairweather. On today's show, your housing questions, answered. This is an excerpt of a live virtual event we held last week for our NPR+ and other qualifying supporters. To hear the entire event, make sure you're signed up for NPR+. We'll be publishing it as a bonus episode in the Planet Money feed next week!    Fact checking by Vito Emanuel.Your Next Listen — Two Cities. Two chip plants. One affordability crisis.Connect with The Indicator — Sign up for The Indicator's brand new newsletter — Find our socials, YouTube and more! — For sponsor-free episodes, subscribe to NPR+ See pcm.adswizz.com for information about our collection and use of personal data for sponsorship and to manage your podcast sponsorship preferences.NPR Privacy Policy

Last year, counties with high flood risk had a net loss of over 60,000 residents — more than double the year before, according to a recent analysis from Redfin. We explore how climate risk is making things less affordable for homeowners. Then, a look at how WNBA players won a landmark new contract. Every story has an economic angle. Want some in your inbox? Subscribe to our daily or weekly newsletter.Marketplace Morning Report is more than a radio show. Check out our original reporting and financial literacy content at marketplace.org — and consider making an investment in our future.

Last year, counties with high flood risk had a net loss of over 60,000 residents — more than double the year before, according to a recent analysis from Redfin. We explore how climate risk is making things less affordable for homeowners. Then, a look at how WNBA players won a landmark new contract. Every story has an economic angle. Want some in your inbox? Subscribe to our daily or weekly newsletter.Marketplace Morning Report is more than a radio show. Check out our original reporting and financial literacy content at marketplace.org — and consider making an investment in our future.Stories featured in today's episode:Residents flee flood-prone counties for more affordable homesThe labor agreement reshaping the WNBA

Samsung announced new foldables including a phone with an unfolded aspect ratio that makes it wider than it is tall. Plus OpenAI released some details about how one of its agents broke out of a sandbox and hacked Hugging Face to find the solutions to a benchmark challenge. And we debate a recent Redfin poll on how Americans feel about data centers being built in their neighborhood. Finally its the end of the week and we got some Zillow game show action. Can you figure out the price before the panel does? Starring Tom Merritt, Sarah Lane, Robb Dunewood, Len Peralta, Roger Chang, Joe. To read the show notes click here! Support the show on Patreon by becoming a supporter!

Send us Fan MailShould every home be listed on the MLS? Or are office exclusive listings actually in the seller's best interest?The battle over private listings, office exclusives, and Clear Cooperation has become the biggest controversy in residential real estate. Compass, Zillow, Redfin, Homes.com, and the National Association of REALTORS® are all at the center of a debate that could fundamentally change how homes are bought and sold in America.In this episode of Dishin' Dirt, I take a deep dive into NAR's newly released Office Exclusive & Pre-Marketing Guidance and explain what every REALTOR®, broker, and seller needs to know.This isn't another opinion piece. It's a practical walkthrough of what NAR's guidance actually says—and what it means for your fiduciary duties to your clients.I will explain: Why NAR issued this guidance now  The difference between Office Exclusives, Coming Soon, and Pre-Marketing When an office exclusive may truly be in a seller's best interest  The broker's fiduciary duties under Article 1 of the REALTOR® Code of Ethics  Required seller disclosures and informed consent  One-to-one broker communications and Clear Cooperation compliance  Why NAR devoted an entire section to defending the MLS  The real question every listing broker should ask before recommending an office exclusive  How South Carolina's recent guidance aligns with NAR's national position  Why transparency—not technology—is the real issue shaping the future of real estate Whether you're a REALTOR®, broker, attorney, MLS executive, appraiser, or simply interested in the future of residential real estate, this episode will help you understand one of the most important industry issues of 2026.Do office exclusives protect sellers—or do they reduce transparency and competition? Listen and decide for yourself.

Master advanced online home research for your First Time Homebuyer journey, using digital tools effectively while avoiding deceptive algorithms and predatory real estate sites.This episode provides First Time Homebuyers with ultimate tactics for deep online reconnaissance, teaching you how to investigate neighborhoods and properties like a pro. Learn to master advanced digital tools, from Google Maps' hidden features to municipal GIS systems, to uncover objective data and potential red flags. Discover how to avoid predatory online platforms and misleading algorithms, ensuring you rely on your trusted Unicorn team to verify all findings. Ultimately, you'll learn to balance digital sleuthing with real-world exploration, turning online warnings into actionable insights for confident decision-making. "Every online red flag doesn't become something to make you stop looking at something. It's just a yellow sticky note for your unicorn team to verify." — David Sidoni, Nationwide First Time Homebuying Coach HighlightsWhy are massive public real estate sites like Zillow and Redfin more like casinos than helpful tools for First Time Homebuyers?How can you use Google Maps' secret "time travel" features to spot unpermitted renovations or hidden water drainage issues?What's the real truth about unpermitted home renovations, and when should you actually be concerned?How do you find zoning, tax, and permit records using an Assessor's Parcel Number (APN) and county GIS systems?Why are "cash-back" offers, reward programs, and new AI conversational search tools actually traps for unsuspecting buyers?Beyond digital sleuthing, what simple physical reconnaissance tactics can reveal a neighborhood's true character at 2 a.m.?How do you turn every scary "red flag" you find online into a simple "yellow sticky note" for your trusted Unicorn team to investigate?HowtoBuyaHome.com/Guide - Over 100 of our BEST Episodes of Detailed Homebuying Knowledge, Interviews, and MORE! Connect with me to find a trusted realtor in your area or to answer your burning questions!Subscribe to our YouTube Channel @HowToBuyaHomeInstagram @HowtoBuyAHomePodcastTik Tok @HowToBuyAHomeVisit our Resource Center to to get your FREE Home Buying Starter Kit!David Sidoni, the "How to Buy a Home Guy," is a seasoned real estate professional and consumer advocate with two decades of experience helping first-time homebuyers navigate the real estate market. His podcast, "How to Buy a Home," is a trusted resource for anyone looking to buy their first home. It offers expert advice, actionable tips, and inspiring stories from real first-time homebuyers. With a focus on making the home-buying process accessible and understandable, David breaks down complex topics into easy-to-follow steps, covering everything from budgeting and financing to finding the right home and making an offer. Subscribe for regular market updates, and leave a review to help us reach more people. Ready for an honest, informed home-buying experience? Viva la Unicorn Revolution - join us!

Shop Talk this week looks at a study by the real estate platform Redfin, which concludes that retirees should not rely on their homes to be a safety net unless they do the required maintenance and updating. Caught My Eye looks at a story that John discovered was clickbait about a cat and jury duty. Also, Jeopardy is looking to add one new clue writer to staff for the first time in 10 years. First, you must pass the online contestant test to apply. Charles Rudolph Boysen, the inventor of the Boysenberry, is our Business Birthday. We're all business. Except when we're not. Apple Podcasts: apple.co/1WwDBrC Spotify: spoti.fi/2pC19B1 iHeart Radio: bit.ly/4aza5LW Tunein: bit.ly/1SE3NMb YouTube Music: bit.ly/43T8Y81 Pandora: pdora.co/2pEfctj YouTube: bit.ly/1spAF5a Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Join the team behind the popular podcast Planet Money and celebrate the publication of their new book, Planet Money: A Guide to the Economic Forces That Shape Your Life. Book author and longtime contributor Alex Mayyasi, Planet Money host Kenny Malone, and visual host Jack Corbett will bring Planet Money's signature brand of storytelling to the stage and discuss some highlights from the new book, including unlikely origin stories, revealing truths about human behavior, and insightful suggestions for navigating chaotic times drawn from the latest ideas in economics. Daryl Fairweather, Chief Economist at Redfin, will be the special guest this evening. Come prepared to engage with the silly and the sublime and ask some questions of your favorite Planet Money hosts and reporters. Alex Mayyasi is a longtime contributor to Planet Money. Previously he was the founding editor of Gastro Obscura, which earned two James Beard Awards, and published a bestselling travel book, and was also a writer and editor at Priceonomics. His writing on business and economics has appeared in publications such as Smithsonian, the Washington Post, and The Atlantic. Mayyasi also consults for the University of Chicago economics department. He's the co-author of You Are Under Arrest for Masterminding the Egyptian Revolution (a Memoir). Kenny Malone is a cohost for NPR's Planet Money podcast. Before that, he was a reporter for WNYC's Only Human podcast. Before that, he was a reporter for Miami's WLRN. And before that, he was a reporter for his friend T.C.'s homemade newspaper, Neighborhood News. Malone's stories have investigated everything from abuse in Florida's assisted living facilities to health hackers building their own pancreas to the origins of seemingly made-up holidays like National Raisin Day. Or National Golf Day. Or National Splurge Day. His work has won the National Edward R. Murrow Award for Use of Sound, the National Headliner Award, the Scripps Howard Award, and the Bronze Third Coast Festival Award. He studied mathematics at Xavier University in Cincinnati and proudly hails from Meadville, PA, where the zipper was invented. Daryl Fairweather is the chief economist of Redfin and author of Hate the Game: Economic Cheat Codes for Life, Love, and Work. Her insights have been featured on 60 Minutes, CBS Evening News, as well as in the New York Times and Washington Post. Prior to joining Redfin she was a senior economist at Amazon working on problems related to employee engagement and managing a team of analysts. Jack Corbett is the visual host of Planet Money's TikTok account. Corbett shot NPR's first TikTok about the stock market circuit breaker. His reporting style became a perfect fit for the pandemic and the new short-form world order it has left in its wake. Since then, Planet Money TikTok's unique style and sensibility have garnered a devoted, loyal fanbase of young and diverse audiences. Almost four years later, the channel has amassed a large, devoted following of almost 800,000. His TikToks have received almost 15 million likes. In 2023, Corbett's work on Planet Money's TikTok won an Edward R. Murrow award and he's also been recognized by the White House Press Photographers Association. Corbett studied experimental cinema at Ohio State University and started at NPR in 2019 as an intern on the Music team. In his first few weeks, Corbett pitched a documentary to Jazz Night in America, which went on to premiere as part of the Sundance Film Festival in 2021. Corbett lives, breathes and makes bread in The City of Angels, Los Angeles, California. Buy the Book Planet Money: A Guide to the Economic Forces That Shape Your Life Elliott Bay Book Company

Both OpenAI and Anthropic are planning to go public, each pushing a valuation of $1 trillion as of their latest funding rounds. But even before these mega-IPOs send a tsunami of new liquidity through their home city, San Francisco, signs of growing AI wealth aren't hard to find. And no sign is blinking brighter than the real estate market.San Francisco has the highest and the fastest-rising home prices in the country, according to data from Redfin. Recently, a turn-key restored Edwardian home hit the market for just under $3 million, right outside the neighborhood known as Cerebral Valley for its concentration of AI workers.

Both OpenAI and Anthropic are planning to go public, each pushing a valuation of $1 trillion as of their latest funding rounds. But even before these mega-IPOs send a tsunami of new liquidity through their home city, San Francisco, signs of growing AI wealth aren't hard to find. And no sign is blinking brighter than the real estate market.San Francisco has the highest and the fastest-rising home prices in the country, according to data from Redfin. Recently, a turn-key restored Edwardian home hit the market for just under $3 million, right outside the neighborhood known as Cerebral Valley for its concentration of AI workers.

Today we are asking a practical question. Can you get a leading indicator of what is happening in real estate before monthly or quarterly reports from the major brokerages? If you really want to look at the leading indicators, how would you do it? How could you do it? Well, as it turns out, Brokerages like Redfin and Zillow can see activity before it appears in the monthly statistics. They see searches, appointments, open houses, offers, cancellations, and pending contracts. How can an ordinary investor get closer to that same information and understand where the market is moving before the headlines catch up?-------------**Real Estate Espresso Podcast:** Spotify: [The Real Estate Espresso Podcast](https://open.spotify.com/show/3GvtwRmTq4r3es8cbw8jW0?si=c75ea506a6694ef1)   iTunes: [The Real Estate Espresso Podcast](https://podcasts.apple.com/ca/podcast/the-real-estate-espresso-podcast/id1340482613)   Website: [www.victorjm.com](http://www.victorjm.com)   LinkedIn: [Victor Menasce](http://www.linkedin.com/in/vmenasce)   YouTube: [The Real Estate Espresso Podcast](http://www.youtube.com/@victorjmenasce6734)   Facebook: [www.facebook.com/realestateespresso](http://www.facebook.com/realestateespresso)   Email: [podcast@victorjm.com](mailto:podcast@victorjm.com)  **Y Street Capital:** Website: [www.ystreetcapital.com](http://www.ystreetcapital.com)   Facebook: [www.facebook.com/YStreetCapital](https://www.facebook.com/YStreetCapital)   Instagram: [@ystreetcapital](http://www.instagram.com/ystreetcapital)  

Rich Lennon is a longtime real estate investor turned private lender who built one of the largest hard money lending operations in Richmond, Virginia, after a career of flips, rentals, and buy-and-hold deals. He reached financial freedom by stepping out of active investing and into the lending seat, where he now earns 30 to 50% returns doing only a few hours of work per deal while traveling the world.In this episode, Rich breaks down the fractional wrap, the strategy he uses to combine his own capital with private money and capture the arbitrage between what he borrows at and what he lends at. He explains why being the bank is the lowest-risk seat at the table, how to underwrite a deal, why staying local matters, and the morality of protecting your borrowers.David and Rich go deep on the mechanics: the $50,000 starting point, taking a first-loss position to protect underlying lenders, and how returns scale with how hard you want to work. Rich shares why flippers and operators are perfectly positioned to make the jump, since their worst-case scenario as a lender is taking back a property at 50 to 60 cents on the dollar.If you are a real estate investor or entrepreneur who has stacked some cash and wants to put it to work without chasing marketing, finding deals, or managing renovations, this conversation lays out exactly how to move from operator to lender the right way.Episode Highlights[1:06] – David introduces Rich Lennon, his first ever Simple CFO client and the friend who helped springboard the company[4:14] – Rich recalls David finding $800,000 in his books and how that discovery started his path to freedom[4:32] – Why Rich shut down his operating business during Covid and ran the numbers showing he no longer had to work[4:51] – Rich falls in love with lending and travel, earning 30 to 50% returns on a few hours of work per deal[6:13] – Rich's background as a buy-and-hold investor who flipped to pay the bills and built wealth through IRAs[7:50] – Why the lending seat carries the smallest risk and beats flips, short-term rentals, and long-term rentals[8:12] – How a lender gets in at 60% of value when someone else does the marketing, contracts, and closing[10:02] – The Capital One effect and why dentists, lawyers, and executives make ideal private lenders[11:30] – Why you need at least $50,000 to make a fractional wrap worth the effort[12:16] – The case for skin in the game and putting the flipper in first-loss position[13:12] – Rich walks through the fractional wrap math on a $200,000 loan worth $300,000[14:45] – How taking a first-loss position protects your underlying lender at a 30 to 35% loan-to-value[15:40] – Why putting less of your own money in the deal drives your return toward 50%[18:27] – How return scales with effort and why bigger money usually means lower returns[19:36] – Growing lending into a real business and why Rich teaches students to stay local[22:47] – How to underwrite a deal by averaging Zillow, Realtor.com, Redfin, and a fourth source[25:50] – The morality of lending, avoiding stacked penalties, and protecting clients so they return[28:02] – How to reach Rich by text to learn about the fractional wrap5 Key TakeawaysThe lender holds the lowest-risk seat at the table. The mortgage gets paid before anyone else, and if a deal goes bad, the worst case is taking back a property at 50 to 60 cents on the dollar.A fractional wrap combines your capital with private money. You borrow at around 10%, lend at 20%, and pocket the arbitrage, pushing returns to 30 to 50% on the money you put in.The less of your own money you put in, the higher your return. Putting $50,000 into a $200,000 deal instead of $100,000 can take your return close to 50%.Take a first-loss position to protect your lenders. Putting your own money at risk before theirs keeps you a careful steward and gives your underlying lender a safe 30 to 35% loan-to-value spot.Stay local and learn to underwrite. Average four valuation sources to comp a property, keep deals close enough to drive by, and you remove most of the risk that sinks careless lenders.Links & ResourcesSimple CFO — https://simplecfo.comProfit First for Real Estate Investors — https://profitrei.com Investor Addicts Facebook group — https://www.facebook.com/groups/investoraddicts Text Rich Lennon to learn about the fractional wrap — (804) 601-0330Closing RemarkIf Rich's breakdown of the fractional wrap has you thinking about putting your cash to work instead of chasing the next flip, the first step is having the profit to lend in the first place. Take what you learned about moving from operator to lender and share this episode with someone sitting on capital who does not know where to start. Subscribe, review, and share the show, and visit simplecfo.com to take your free discovery call today.

Steve is back from a Royal Caribbean cruise to Bermuda just in time for the WWDC26 wrap-up, and Kotaro wastes no time YOLOing onto the macOS beta to demo Siri AI live. Things go sideways fast when Siri deletes Kotaro's Redfin emails instead of listing their subjects, sparking a wide-ranging conversation about what it actually means to ship AI features to everyday users. The Trio also maps out their WWDC-inspired side project plans for the year ahead.## Chapters00:08 Introductions 00:56 Side Quest: Steve's Cruise Adventures 13:23 Transitioning to AI and WWDC Discussions 17:23 WWDC26 Highlights 22:04 Kotaro Beta Tests macOS & Siri AI 24:17 Xcode & macOS UI Changes 27:10 Kotaro Tries Out Siri AI Live 31:26 Siri Deletes Kotaro's Emails! 41:04 Exploring Siri AI and User Experience 43:25 WWDC26 Insights and Future Projects 52:25 Wrap-Up & One More Thing... 52:46 Tag ## Show Notes- Steve returns from a 5-night Royal Caribbean cruise to Bermuda: escape rooms, cliff climbing, 17k daily steps, and the best lasagna of his life.- The Trio catches up on WWDC26 after Steve's cruise delay, covering Siri AI, SwiftUI improvements, and Swift Data's new results observer.- Kotaro has already YOLOd the macOS beta onto his laptop and shares first impressions of the more refined, less opinionated UI.- New Xcode hides your current branch but gains liquid glass segment controls and an AI assistant for identifying dead code.- Kotaro demos Siri AI live: it correctly locates the Rocky statue and renders a map widget, building some initial optimism about Apple's AI integration story.- Siri AI then accidentally deletes Kotaro's Redfin emails when he only asked it to list their subject lines.- Siri also fails the classic "how many Rs in Raspberry?" test on the local on-device model.- Steve worries that mainstream Siri AI shipping on devices like his dad's new MacBook Neo will create a new wave of family tech support nightmares.- Steve plans to add conversational health assistant features to BentoFit; Kotaro wants to vibe-code Fave10 using only Xcode AI tools and port Retro Sparkle to Godot.## Links**WWDC26**Videos: https://developer.apple.com/videos/wwdc2026/**One More Thing**AppJawn LLC: https://appjawn.com/Apps: Clipdish, Mio Vino, Minimalist Meditation Timer**PhillyCocoa:** https://phillycocoa.orgIntro music: "When I Hit the Floor", © 2021 Lorne Behrman. Used with permission of the artist.Music licensed through Soundstripe. Code: RLF9P8ZZ6MPKNOGX

The real estate industry is changing fast, and this week's headlines are all about power, control, and pressure. Today on This Week in Real Estate, we're talking about Compass reportedly overtaking Zillow in market value, SERHANT. making a major move into Texas, and what all this consolidation means for agents, brokerages, portals, and consumers. We'll also break down the latest from NAR, including dues staying steady, the debate over whether REALTORS should have to disclose knowledge gaps, and NAR's expanding legal fight tied to Mauricio Umansky's thePLS.com and the Clear Cooperation Policy. Then we'll get into the actual housing market, where things are getting strange. Redfin says home-price growth accelerated in May, seller concessions hit a record high for that month, and housing payments are back near painful highs. So are buyers gaining leverage, or are affordability problems still keeping them stuck on the sidelines? Join us live on YouTube for sharp, no-fluff real estate news, market analysis, and agent-focused commentary. Topics include: Compass vs Zillow SERHANT Texas expansion NAR dues and leadership REALTOR ethics debate Clear Cooperation Policy Private listings and thePLS.com Mortgage rates and housing affordability Home prices, seller concessions, and buyer demand

Neal Bawa - Grocapitus and MultifamilyU On Using the Right Tools to Make Good Decisions: "I said, I'm going to mine as much data as possible and try to get insights from that data." Many investors use real estate investing as an investment vehicle in their portfolio.  Most of those investors are looking at their local real estate market and trying to find deals that can pump out the returns they want. But the world is smaller now, and real estate investing in your backyard is no longer necessary.  You can invest hundreds of miles away and possibly turn over a stronger margin.  The way to find the best place to invest, starts with gathering data and comparing places. Neal Bawa, known widely as the "mad scientist of multifamily," is the engineer turned real estate investor that combines his knowledge of real estate, data science, and artificial intelligence. Neal shares his unconventional journey from running a successful tech company to revolutionizing real estate investing through data-driven decisions and AI-powered tools. Neal weathered the housing crash of 2008, built a thriving syndication business and a free educational community at MultifamilyU. Listen as Neal teaches us how to be fascinated by real estate, curious about the AI revolution, and to seek new ways to scale and automate your business. Enjoy! Visit Neal at: https://multifamilyu.com/ Sponsors: Calls On Call Extraordinary Answering Service, phone answering for small businesses: https://callsoncall.com Some videos have been recorded with Riverside: https://www.riverside.fm/?utm_campaign=campaign_5&utm_medium=affiliate&utm_source=rewardful&via=james-kademan   Podcast Overview: 00:00 Bringing IV therapy to Madison 05:39 Navigating Franchise Regulations 07:47 IV therapy goes mainstream in Tokyo 12:50 Curated med spa offerings 14:44 Choosing Hydrate IV Bar for Madison 19:02 Starting with franchise questions 20:37 Building a Health-Focused Community 24:53 Benefits of Vitamin D Supplementation 27:55 Challenges with supplement patents 32:20 Functional medicine consultations at Hydrate 34:08 Patient advocacy and safe care 39:05 Frequency of sessions per week 41:33 Supplements and their credibility 47:04 Choosing the right location 48:42 Optimizing franchise location space 52:48 Hiring nurses for IV procedures 56:16 Spa services and mobile options Podcast Transcription: Neal Bawa [00:00:00]: We are currently at 1% of the data center needs that we have where humanity is going through the greatest change in its existence. Greater than the invention of the wheel, greater than the invention of fire, greater than the invention of the personal computer and the Internet put together. We have never seen anything of this Type. The smartphone wasn't even 1% of the AI revolution. And we think of the smartphone as the greatest invention of our times. It's nothing compared to AI. James [00:00:37]: You have found Authentic Business Adventures, the business program that brings you the struggle stories and triumphant successes of business owners across the land. Downloadable audio episodes can be found in the podcast link found@drawincustomers.com we are locally unwritten by the bank of Sun Prairie Calls On Call, Extraordinary answering service, the Bold Business Book as well as Live Switch. And today we're welcoming, preparing to learn from Neil Bawa of Growcapitus. I'm told, Neil, you are the mad scientist of multifamily. Is that true? Neal Bawa [00:01:10]: It's a moniker I present at many conferences. So I presented at over 101 of the times when I was walking up to the stage, they were announcing and talking about me. The announcer said, the mad scientists of multifamily. And that got a nice gasp out of the audience and I was like, I like this. And so the next year I went to the conference, he introduced me as a mad scientist. And then eventually I was like, people like this concept because it helps them understand that I'm data driven. I'm very AI focused. And so it's an interesting moniker. Neal Bawa [00:01:41]: I don't have the dark brown hair, but I mean that's how I roll. So I let it be and eventually it became part of our story. James [00:01:51]: That is incredible. So tell me the story. How did you end up with the moniker of the mad scientist of multifamily? That's not something people throw randomly around. Neal Bawa [00:02:00]: Yeah, so look, I'm not a real estate guy, not a real estate royalty. No one in my family is in real estate. I'm a technologist. I'm from India, came here as a computer scientist. Data science is my area of interest. I'm an amateur data scientist, but my degree is in computer science and I ran a tech company from 1999 to 2013. Very successful, not a start up, you know, hundreds of employees. And we sold it in 2013. Neal Bawa [00:02:28]: And my interest in real estate started when the senior partner in the firm, I was a junior partner, basically said in 2003, we are not going to rent, we are going to build our own campus. And this wasn't a multifamily campus at that time. It was an office campus for a business. And, you know, we had 150 employees, and we were renting from somebody. And he didn't like that. So he, under his guidance and his expert advice, I built the first campus in 2003. We took 12 months to build it. We had no investors. Neal Bawa [00:03:00]: We had no bank. It was just all cash. We built it ourselves because the business was quite profitable. At the end of that process, I realized just the extraordinary, shockingly high benefits that you get when you use depreciation, Right? Cause this big campus, 27,000 square feet, and I just all of a sudden was making. Taking a lot more money home. I wasn't making more money. I was just taking a lot more money home because the depreciation of that building was phenomenal. And that got me hooked into real estate. Neal Bawa [00:03:30]: Because at one time, I remember after that building was done, James, I remember saying to my wife, I think real estate is the best authorized tax scam in America. Now, obviously, I didn't know depreciation back then. I didn't understand accounting. Now I understand that there's nothing scammy about it. You know, depreciation is a legitimate right. And you take it for real estate. You can also take it for other things. But for real estate, it's. Neal Bawa [00:03:56]: It's extremely beneficial compared to any other form of depreciation, any other business. And so I realized that I, you know, I had the big fat tax salary, and I was living in Taxifornia, so I was basically working for the man. 50% of my salary was going to state and federal. And so I said, I need to find a way around this, because I read a book by Robert Kiyosaki, and I remember the statement, it's not what you make, it's what you keep. Right? And I was like, I ain't keeping much of my salary. So I was like, okay, I need to get into real estate. So I went back to my boss and said, you know, what we did with this campus was really great. Let's do it again. Neal Bawa [00:04:31]: And so we built a bunch more campuses. I think four or five campuses were built and improved coming up to 2008. And so each year, what would happen is I was keeping more and more of my income because of all the depreciation that I was getting. And so I was saving and saving and saving. And so I'd ended up with, you know, pretty large amount of money by the time 2008 hit. And then when that happened, all of a sudden, property values plummeted. They went down. And so I would go to, you know, my family events and everyone would just bash real estate. Neal Bawa [00:04:58]: Everyone's like, this is horrible. Don't buy real estate. It's horrible, horrible. It's going to crash. You know, it's worth nothing, blah, blah, blah. And you can imagine everyone was saying that because, you know, all the television, on the tv you're just hearing bad news, bad news. Every day it's bad news. It can only go down further. Neal Bawa [00:05:11]: You know, millions and millions of homes are in foreclos. And I'm like, I don't understand this. I don't understand. I mean, I'm from the Warren Buffett school of investing, which is, you know, when things are cheap, you buy them. So I'm like, but I don't want to make a mistake. You know, I have this money, this, that I've saved up over the last five or six years. I want to go out and buy as many single family homes as I can. But I don't want to make a mistake. Neal Bawa [00:05:34]: What if I'm just an idiot that knows nothing? So I decided that I would basically educate myself. And I did that in the typical way that, you know, technologists and engineers do. I said, I'm going to mine as much data as possible and try to get insights from that data. So I started mining websites like Bureau of Labor Statistics and Zillow and Trulia and Redfin and you know, all these other sites that realtor.com that you've heard about in the real estate area. And I'm mining gigabytes of data and putting them into a statistical analysis software called R. The software is R and statisticians know it. And you know what R does? It makes it easy for you to take huge amounts of data that you know nothing about and give you insights, right? These days, AI does it and it even does it better than the software. But back then there was no AI. Neal Bawa [00:06:23]: So the software would give you insights, it would give you correlation. So you could say something like, show me real estate profits that are made in this city and this city and this city and correlate that real estate profit with these various things that I'm looking at. What is the highest correlation? Is the correlation of profits highest to population growth or job growth or income growth or home price growth or crime reduction or schools. Where's the correlation? The connection? The biggest, right? And then based on that correlation,...

Let’s Make a Deal! News Dominated by … SpaceX This week – Fed rate Decision Need a new CTP (SPACEX?) PLUS we are now on Spotify and Amazon Music/Podcasts! Click HERE for Show Notes and Links DHUnplugged is now streaming live - with listener chat. Click on link on the right sidebar. Love the Show? Then how about a Donation? PayPal.Donation.Button({ env:'production', hosted_button_id:'JJJHP2GDEJC7J', image: { src:'https://www.paypalobjects.com/en_US/i/btn/btn_donateCC_LG.gif', alt:'Donate with PayPal button', title:'PayPal - The safer, easier way to pay online!', } }).render('#donate-button'); Follow John C. Dvorak on Twitter Follow Andrew Horowitz on Twitter Warm-Up - Let's Make a Deal! - News Dominated by ... SpaceX - This week - Fed rate Decision - Need a new CTP (SPACEX?) Markets - Another V Formation - Nearing Highs again - IPO Madness - Anthropic and OpenAi - SpaceX IPO - could drain markets - More AI valuations through the roof DEDICATION: Stu Schifter - my good friend of 30 years passed away last night... battled Cancer for 2 years. Market Valuations - S&P 500 Forward P/E = 22.5 - 10-yr average =  19–20x - Long-term average 18-19 - Not cheap, pricing in a lot of earnings growth. - NASDAQ 100 forward P/E =  23-24 - 1-yr average   ~23x - 20-yr average  ~20–21x - Not screaming expensive on a forward basis - - NOTE: Training P/E = 33-40 NEW Playbook - But the Rumor and Buy the News - used to be Buy the Rumor and Sell the News - This is why there is an announcement about something and then a date to follow.... - Monday = Deal, Friday = signing On that note - What is the deal anyway? - Seems that we  (USA) moving out our navy before the final - Straights of Hormuz opening -?? - Has anyone seen the text? - We are no better than we were before all this started... Headline Nonsense - Fox Business: Beware the ticking time bomb hiding in your 401(k) - Required minimum distributions can trigger taxes on Social Security benefits and boost Medicare premiums - This is not a ticking time bomb. This is just reality when you have a lot saved and need to start withdrawals - HOWEVER - there are ways around this and we have helped clients with this. - - Listeners - if you have a 401k and think that you will be paying too much later on - we can take a look at the options... More Retirement Alerts - Social Security running out again.... - Less that 10 year until the reserves are exhausted - The Social Security Administration's newly released 2026 Trustees Report confirms that the federal retirement safety net is less than seven years away from fiscal depletion, as the Old-Age and Survivors Insurance (OASI) trust fund will completely exhaust its accumulated reserves in the fourth quarter of 2032. - Once the reserve dries up, ongoing tax revenues will cover only 78% of scheduled retirement benefits, according to the report. - Some of the blame is being laid on the OBBBA with higher standard deductions and lower taxes on SS Benefits - "The OBBBA also adds a temporary additional standard deduction for taxpayers over age 65," it says. "As a result, less income tax will be paid on Social Security benefits, and the OASI and DI Trust Funds will receive lower levels of revenue in the future from income taxation of Social Security benefits." PSA - The Food and Drug Administration (FDA) has classified a recall of more than 900 cases of Alfredo sauce at its highest risk level after a supplier recalled a dry milk powder ingredient used in the product due to potential salmonella contamination. - The FDA designated the recall as a Class I event, its most serious classification, meaning there is a reasonable probability that use of or exposure to the product could cause serious adverse health consequences or death. - The Coffee Connexion Co., Inc. - According to the FDA, the product was distributed in Alabama, Arkansas, Arizona, California, Colorado, Florida, Georgia, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Massachusetts, Maryland, Maine, Michigan, Minnesota, Missouri, Mississippi, Montana, North Carolina, Nebraska, New Hampshire, New Jersey, New Mexico, New York, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Virginia, Washington, Wisconsin and Wyoming. Monday Markets - 5:45PM Sunday night we see an announcement that there is a Deal! - Why 5:45PM???????? - Futures rally, oil drops - This is just days after the market already surged after a Truth Social post last Thursday that said that the US will "soon" sign a deal with IRAN ---- That pushed up markets quite a bit too - Buy the rumor and buy the news... Reality Check - Thursday: Trump told reporters in the Oval Office that “we have a deal that Iran will never have a nuclear weapon.” - Monday: 60-day period delay to continue discussions of nuclear issues - Is there a sucker in all of this? $ for IRAN - Supposedly there i some deal... - A $300 billion private fund designed ?to trigger investment into Iran is outlined in the U.S.-Iran framework agreement and more than half that sum has already been committed, a source with ?direct knowledge of the deal told Reuters. - The fund is designed to give both sides an economic incentive to conclude a final deal, said the source, who spoke on condition of anonymity because the plan has not yet been announced as Washington and Tehran prepare to sign on Friday. SpaceX - IPO - Finally! $135 per share - Rose to $160+/- on the debut day - Rather smooth process and very orderly - A total of $85B was raised - due to an add-on additional green-shoe that was allowed ($10B) for institutions. - Rose another $20% on Monday - Retail got about 20% of the deal (down from 30%) Oracle - Oracle Corp. shares declined after the company reported quarterly capital expenses that were higher than estimates, raising investor concerns about the profitability of the AI infrastructure business. - The company expects to spend about $70 billion on net capital expenditures in the current fiscal year, and plans to raise another $40 billion in equity and debt. - Oracle's cloud infrastructure business gained 93% to $5.8 billion, and total cloud revenue is projected to jump about 61% in the quarter ending in August. - The increase of $5B over the course of the year was disconcerting to investors. - Shares dropped the most in over 6 months on the news CPI and PPI - May CPI was mixed but generally cooler on the core reading, with headline CPI up 0.5% month-over-month, matching consensus, while Core CPI rose 0.2%, below the 0.3% consensus and below Briefing's 0.4% estimate. - The softer core CPI reading suggests some easing in underlying consumer inflation pressures, which is the more constructive part of the inflation picture. - May PPI was firmer than expected on the headline reading, with PPI up 1.1% versus 0.7% consensus and 0.8% Briefing estimate, matching the prior month's revised 1.1% pace. - Core PPI rose 0.4%, matching consensus and coming in below the prior month's revised 0.7%, indicating wholesale inflation remained elevated but did not accelerate further on the core measure. - Taken together, the CPI and PPI reports point to a mixed inflation backdrop: consumer-level core inflation looked somewhat better, but producer-level price pressures remained sticky. Cyberdyne - Anthropic announced Claude Fable 5, a Mythos-class model that will be available to its enterprise customers and paid subscribers. - The company unveiled Mythos in April and has limited the rollout because of its advanced cybersecurity capabilities. - Anthropic said Claude Fable 5?s broad release is possible because of new safeguards that block responses in specific high-risk areas. - WAIT! The US government PULLED the plug on Mythos and Fable for any foreign national - From Anthropic - The US government, citing national security authorities, has issued an export control directive to suspend all access to Fable 5 and Mythos 5 by any foreign national, whether inside or outside the United States, including foreign national Anthropic employees. The net effect of this order is that we must abruptly disable Fable 5 and Mythos 5 for all our customers to ensure compliance. Access to all other Anthropic models will not be affected. OpenAi - Confidentially flies for IPO - Sends financials and IPO materials to regulators - making sue all in good order. - This allows the company to iron out accounting, compliance, and regulatory issues in private without triggering a "media circus" or alerting competitors to their financials Last Friday..... - Nonfarm payrolls jumped a seasonally adjusted 172,000 for the period, down slightly from the upwardly revised 179,000 in April and far above the Dow Jones consensus estimate for 80,000. - The unemployment rate held steady at 4.3%, as expected. - Average hourly earnings rose 0.3% for the month and were up 3.4% over the past year, both in line with the Wall Street consensus. Screwworm - The New World screwworm has been detected in a 3-week-old calf in Zavala County, Texas, the first known case of that fly in the United States since 2017. - New World screwworm larvae “burrow into the flesh of living animals, causing serious damage to livestock and economic losses,” the U.S. Department of Agriculture said. - The USDA and Texas officials are taking immediate action to contain and eradicate the pest. - In December, the Food and Drug Administration granted conditional approval to the topical solution Exzolt Cattle-CA1, which is used to prevent and treat New World screwworm infestations and is produced by Merck & Co. - What is going to happen to beef prices? Real Estate - Nationwide, 5.8% of all home listings were pulled off the market in April, according to Redfin. - Delistings were up 3.8% compared with March. - Atlanta saw the highest share of homes come off the market in April, with 1 in 10 delisted. San Jose, California, followed with roughly 9% pulled, then Los Angeles (7.8%), Dallas (7.8%) and Seattle (7.7%).  In other news.... - The Japanese city of Utsunomiya has suspended all 94 of the primary and middle schools ?that it operates on Monday after its ?first-ever bear sighting, a municipal official said. - The city of half-a-million residents about 100 km (60 miles) north of Tokyo said ?the bear was first seen in a residential ?area near a park on Saturday evening. It ?remains at large after the last sighting early ?Monday morning about half a kilometre from a ?middle school.   Love the Show? Then how about a Donation? PayPal.Donation.Button({ env:'production', hosted_button_id:'JJJHP2GDEJC7J', image: { src:'https://www.paypalobjects.com/en_US/i/btn/btn_donateCC_LG.gif', alt:'Donate with PayPal button', title:'PayPal - The safer, easier way to pay online!', } }).render('#donate-button'); The Winner for the THE CLOSEST TO THE PIN for SALESFORCE (CRM)   Winners will be getting great stuff like the new "OFFICIAL" DHUnplugged Shirt!     FED AND CRYPTO LIMERICKS   See this week's stock picks HERE Follow John C. Dvorak on Twitter Follow Andrew Horowitz on Twitter

As climate change intensifies, physical risks to property are mounting. On this episode of ESG Currents, Bloomberg Intelligence sustainable-finance senior analysts Gail Glazerman and Andy Stevenson speak with Daryl Fairweather, chief economist of Redfin, about how homebuyers are responding to physical risks, the challenges for home affordability — especially insurance costs — and how markets are adapting, including signs of climate migration.See omnystudio.com/listener for privacy information.

Is the headline about Bay Area de-listings actually telling the truth — or is the data saying something completely different?Spencer Hsu, a top 0.5% real estate agent in the U.S., digs into the June 2026 MLS data across San Francisco, Santa Clara, San Mateo, Alameda, and Contra Costa Counties — and what he finds contradicts the Redfin and NBC Bay Area headlines making the rounds. The Bay Area median sales price just hit its highest point ever at $1.4M across all five counties. San Francisco alone hit $1.756M — an all-time high. Yet some counties are already showing early signs of softening. This is where trends stop being theoretical and start showing up in real transactions.===

Welcome back to Date Night! We have lots for you today: A failed house bid, a service dog airplane plan for Penny, Summer House hot takes, Love Island feelings, Knicks obsession, and a surprisingly deep conversation about trusting your own instincts. Plus, Bodega vs Deli, Whit's sweet + tart cravings, several airing of grievances, and a new family dream that may involve pulling Sonny out of school and traveling the world. Sweetness and chaos, as always. XOXOThis episode is brought to you by Obé Fitness. If you are looking for something that helps you stay consistent without overthinking it, try Obé Fitness free for 30 days at obefitness.com with code WHIT.This episode may contain paid endorsements and advertisements for products and services. Individuals on the show may have a direct, or indirect financial interest in products, or services referred to in this episode.Produced by Dear MediaSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The real estate investing moves you make today could change your life. Those in their 40s, 50s, and 60s often look back and regret not starting sooner. Today's guest isn't letting that happen, and in this episode, she'll show YOU how to take advantage when that next rental property comes your way! Welcome back to the Real Estate Rookie podcast! When Megan Chou's father challenged her to read the personal finance classic, Rich Dad Poor Dad, little did she know it would completely alter her life's trajectory. The book's lessons on building wealth inspired her to stash her money away in a brokerage account and, at just 20 years old, buy her very own rental property—a townhome she house hacked with her best friend. Then, only two years later, right as she was graduating from college, she took down a fourplex—renovating each unit while living in it, one by one. Stay tuned as Megan shares how she leveraged her home equity to buy it, what went wrong after buying the property, and how she stayed resilient when her property started fighting back! In This Episode We Cover How Megan bought her first two rental properties (while still in college!) How to fund your next investment property using your existing home equity What Zillow, Redfin, and the MLS can't tell you about properties or neighborhoods Bouncing back from ice, raccoons, and plumbing failure on the same property Two crucial things to do when experiencing a setback with your property And So Much More! Check out more resources from this show on ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠BiggerPockets.com⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ and ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠h⁠t⁠⁠tps://www.biggerpockets.com/blog/rookie-728. Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Email ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠advertise@biggerpockets.com⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.  Learn more about your ad choices. Visit megaphone.fm/adchoices

AI is updating at a pace most of us have never had to keep up with, and that speed is exactly why so many smart people feel overwhelmed or suspicious. We sit down with Saiid Zamani, an AI trainer and active real estate agent, to make it simple, practical, and real. Our goal is not to hype the tech or fear-monger about robots. We want to show how AI actually fits into everyday work and where the “human advantage” still wins every time.We talk about what AI is already changing, from toll booths disappearing to the way buyers search for homes on platforms like Homes.com, Zillow, and Redfin. Saiid explains why AI may replace certain tasks, but it does not replace trust, emotional intelligence, and the ability to read the room, which is the core of real estate and most relationship-driven businesses. We also break down how agents and small business owners can use AI to follow up faster, write clearer messages, and deliver more value without building a giant team.Then we get hands-on with tools: ChatGPT, Google Gemini, Claude, and Google NotebookLM. Saiid shares how he uses AI as a “thought partner,” including voice conversations to sharpen presentations and turn daily notes into bullet points and checklists. We also cover free vs paid plans, why limits matter when you use AI heavily, and the two guardrails we both care about: privacy and personalization settings.If you've been curious but hesitant, give this conversation 10 to 15 minutes of your attention and take one small step after you listen. Subscribe, share this with a friend who's still on the fence, and leave a review with the AI tool you're trying first. ---Welcome to The Brad Weisman Show, where we dive into the world of real people, real life, and everything in between with your host, Brad Weisman!

Subscribe for ad-free episodes + bonus content: https://realestatemarketminute.supercast.com Instagram: @thesalibgroup Email: mark@thesalibgroup.com A new Redfin report says investor home purchases just fell to their lowest level since 2020. In this episode, we break down why investors are pulling back, what it says about today's housing market, and which property types are feeling the impact the most as higher mortgage rates and slowing price growth reshape real estate.

Episode # 983 (reale Estate Only)====Sign up for the Ron & Don Newsletter to get more information at⁠⁠ www.ronanddonradio.com⁠⁠ (http://www.ronanddonradio.com/)====To schedule a Ron & Don Sit Down to talk about your Real Estate journey, go to⁠⁠www.ronanddonsitdown.com⁠⁠ (http://www.ronanddonsitdown.com/) ====Thanks to everyone that has become an Individual Sponsor of the Ron & Don Show. If you'd like to learn more about how that works:Just click the link and enter your amount at⁠⁠https://glow.fm/ronanddonradio/⁠⁠⁠⁠RonandDonRadio.com⁠⁠ (https://anchor.fm/dashboard/episode/ea5ecu/metadata/RonandDonRadio.com)Episodes are free and drop on Monday's , Wednesday's & Thursday's and a bonus Real Estate Only episode on Fridays.From Seattle's own radio personalities, Ron Upshaw and Don O'Neill.Connect with us on Facebook⁠⁠Ron's Facebook Page⁠⁠ (https://www.facebook.com/ron.upshaw/)⁠⁠Don's Facebook Page⁠⁠ (https://www.facebook.com/theronanddonshow

Darryl Fairweather, Chief Economist at Redfin and author of Hate the Game: Economic Cheat Codes for Life, Love, and Work, joins us to explain why the housing market is doing something it almost never does here: cooling off.In this episode we break down the recent headlines that stopped Seattleites mid-scroll: prices here are dropping here faster than anywhere else in the country. Fairweather points to the perfect storm behind the slowdown: sky-high mortgage rates hitting expensive markets the hardest, Amazon layoffs, and a local tech sector that's lost the confidence it had pre-pandemic. She says San Francisco is eating Seattle's lunch right now, thanks to its AI boom.But Darryl also sees a silver lining: a slow, steady reset could finally make Seattle more livable and affordable for working people.We also get into the policy fights. Should Seattle build its way out of the crisis with more market-rate housing, or invest in social housing? (She says: yes, and yes.) Why does she think rent control or stabilization backfires? What can Seattle learn from Austin's building boom, and what should it absolutely not copy?And what about AI? Darryl thinks it could genuinely help by speeding up permitting or making modular housing cheaper to build. But she's not buying the hype wholesale. Contractors still need to show up and do the work, and no algorithm is going to fix a bureaucratic bottleneck.Send us a text! Note that we can only respond directly to emails realseattlenice@gmail.comThanks to Uncle Ike's pot shop for sponsoring this week's episode! If you want to advertise please contact us at realseattlenice@gmail.comSupport the showYour support on Patreon helps pay for editing, production, live events and the unique, hard-hitting local journalism and commentary you hear weekly on Seattle Nice. 

Many investors get their OFFER PRICE completely wrong. Then they end up dropping the price, later or just walking away from the deal cause they can't sell the contract. In this episode, I break down three free Redfin numbers that tell you exactly where your market stands before you buy, before you list, and long before the panic sets in.You'll learn:What the median days on market number is really telling you, and why the investor who panics at day seven is burning money for no reasonThe list-to-sell ratio hiding inside Redfin that reveals what homes are actually closing at (not what they're listed at)The price band breakdown that shows which slice of your market is moving, and which is deadWhy checking this data when you list is already too late… and the one monthly habit that keeps you three moves ahead of every other investor in your marketKnowing your list-to-sell ratio keeps you from overpricing on the exit.But if your ARV was wrong before you bought, no amount of market data saves the deal.The upcoming Deal Analysis Workshop is where you fix that...Learn to run the numbers right before you ever make an offer:Register to our FREE Deal Analysis WorkshopLINKS & RESOURCES1,000 FREE Seller LeadsGet your first 1,000 seller leads FREE from our partner BatchLeads and start closing deals immediately. CLICK HERE: http://leads.getbatch.co/mztQkMr7 Figure Flipping UndergroundIf you want to learn how to make money flipping and wholesaling houses without risking your life savings or "working weekends" forever... this book is for YOU. It'll take you from "complete beginner" to closing your first deal or even your next 10 deals without the bumps and bruises most people pick up along the way. If you've never flipped a house before, you'll find step-by-step instructions on everything you need to know to get started. If you're already flipping or wholesaling houses, you'll find fast-track secrets that will cut years off your learning curve and let you streamline your operations, maximize profit, do MORE deals, and work LESS. CLICK HERE: https://hubs.ly/Q01ggDSh0 7 Figure RunwayFollow a proven 5-step formula to create consistent monthly income flipping and wholesaling houses, then turn your active income into passive cash flow and create a life of freedom. 7 Figure Runway is an intensive, nothing-held-back mentoring group for real estate investors who want to build a "scalable" business and start "stacking" assets to build long-term wealth. Get off-market deal sourcing strategies that work, plus 100% purchase and renovation financing through our built-in funding partners, a community of active investors who will support and encourage you, weekly accountability sessions to keep you on track, 1-on-1 coaching, and more. CLICK HERE: https://www.7figureflipping.com/runway Connect with us on Facebook and Instagram: @7figureflipping Hosted on Acast. See acast.com/privacy for more information.

What's really happening behind the scenes at Redfin, Rocket, and the growing battle over private listings?   In this episode of Real Estate Insiders Unfiltered, James Dwiggins and Keith Robinson sit down with Joe Rath, Head of Industry Relations at Rocket and a longtime Redfin leader, for one of the most candid conversations yet about where the industry is heading next.   Joe pulls back the curtain on the Rocket + Redfin acquisition, the real strategy behind "coming soon" listings, the Compass partnership, and why the future of real estate may look very different than most agents expect.   The discussion dives into MLS policy, private inventory, consumer behavior, seller psychology, and the tension between technology ecosystems and trusted agent relationships. Keith pushes back hard on the idea that platforms matter more than people, while Joe explains why the industry is evolving toward a more flexible consumer experience.   They also unpack Glenn Kelman's leadership style, the future of hyperlocal agents, and why some of the biggest industry shifts are already happening quietly behind the scenes. If you want the inside story on what's really coming next in real estate, don't miss this one.   Links mentioned during the episode: Episode with Glenn Kelman: https://youtu.be/4NwncL4bJsY   Connect with Joe on LinkedIn.   Check out Rocket on LinkedIn - Instagram & Redfin on LinkedIn - Instagram.   Subscribe to Real Estate Insiders Unfiltered on YouTube! https://www.youtube.com/@RealEstateInsidersUnfiltered?sub_confirmation=1 To learn more about becoming a sponsor of the show, send us an email: jessica@inman.com   You asked for it. We delivered. Check out our new merch! https://merch.realestateinsidersunfiltered.com/   Follow Real Estate Insiders Unfiltered Podcast on Instagram - YouTube, Facebook - TikTok. Visit us online at realestateinsidersunfiltered.com.   Link to Facebook Page: https://www.facebook.com/RealEstateInsidersUnfiltered Link to Instagram Page: https://www.instagram.com/realestateinsiderspod/ Link to YouTube Page: https://www.youtube.com/@RealEstateInsidersUnfiltered Link to TikTok Page: https://www.tiktok.com/@realestateinsiderspod Link to website: https://realestateinsidersunfiltered.com This podcast is produced by Two Brothers Creative. https://twobrotherscreative.com/contact/  

On today's episode, Editor in Chief Sarah Wheeler talks to Paul Gigliotti, CEO of California MBA, to talk about how the association is working with the governor's office on a financing solution to rebuild homes affected by the wildfires. The two also discuss the appointment of Rohit Chopra to head the state's new Business and Consumer Services Agency. Related to this episode: Rohit Chopra to head California consumer services agency HousingWire | YouTube⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ More info about HousingWire The Top 5: MBA urges rollback of mortgage rules as rates stay high FHA targets flipping rule repeal and AVM reforms Rocket Mortgage, Redfin launch homebuyer savings program Policies to Unlock Housing Supply and Boost Affordability Why a 2008 housing crash can't happen again To learn more about Total Expert click here. The HousingWire Daily podcast brings the full picture of the most compelling stories in the housing market reported across HousingWire. Each morning, listen to editor in chief Sarah Wheeler talk to leading industry voices and get a deeper look behind the scenes of the top mortgage and real estate.

The private listing war is getting hotter, and this week Zillow, Compass, MRED, Bright MLS, Redfin, and "Coming Soon" listings are all in the middle of it. In Episode 361 of This Week in Real Estate, we're breaking down the escalating battle over private listings, portal access, MLS control, and who really gets to decide where homes show up online. Zillow is fighting to keep Chicago listings on its platform, Compass is gaining major MLS ground, Redfin is changing how some pre-marketed listings appear, and new survey data shows sellers may be more interested in "Coming Soon" strategies than the industry wants to admit. We'll also talk about Zillow's new dual-agency findings, a fake Trump post that somehow became real estate discourse, and what all of this means for agents, consumers, MLSs, and the future of listing exposure. Plus, we're looking at the housing market side of the week: pending sales jumping to their highest level since 2022, home prices inching higher, price drops becoming slightly less common, homeowners feeling the pressure of ownership, and a major housing bill agreement that could give investors a win. Big questions this week: Are private listings becoming a consumer choice or an industry power play? Is Zillow defending transparency, defending traffic, or both? Are MLSs losing control of the listing ecosystem? And is the housing market finally stabilizing, or just shifting into a new kind of weird? Join us live on YouTube for sharp analysis, real estate industry drama, housing market updates, and a no-fluff breakdown of what these stories actually mean. Subscribe for weekly real estate news, housing market trends, mortgage updates, industry lawsuits, MLS drama, brokerage news, and real talk for agents, buyers, sellers, and investors.

Subscribe for ad-free episodes + bonus content: https://realestatemarketminute.supercast.com Instagram: @thesalibgroup Email: mark@thesalibgroup.com New housing data released this morning showed a surprising shift in the market—and it could say a lot about where homebuyer demand is headed next. In this episode, we break down the latest pending home sales report from Redfin, discuss what may be driving the sudden increase in activity, and explore an important psychological trend that may be starting to emerge among buyers. We also discuss mortgage rates, affordability, inflation concerns, and whether the housing market may be entering a new phase after years of stalled activity.

Roger Blankenship is back — and he didn't come back quiet. After more than two years away, the Flipping America Show returns for Season 8 with real news, real analysis, and the story of how Roger and Dianna survived Hurricane Helene trapped in a North Carolina mountain cabin while a 200-foot drop crept to within six inches of their front door. This episode covers seven stories reshaping real estate right now: Zillow and Realtor.com joining forces on pre-market listings, mortgage rates stuck at 6.3–6.5% with no relief in sight, how tariffs could mean 450,000 fewer homes built through 2030, why new homes are suddenly cheaper than resale for the first time in decades, the FTC antitrust case moving forward against Zillow and Redfin, why everybody talking about Flint should know better, and what Kevin O'Leary got exactly right about New York's mayor being Miami's best real estate agent. Plus — the featured tip from REI Quick Tips: "You Can't Take a Riverboat Cruise in a Drainage Ditch." There's a river of money flowing through the rental property business. Your job is to find the stretch with water in it. Listener questions are back. Send yours to questions@flippingamerica.net. Find funding for your next deal at flippingamerica.net/funding. Subscribe to REI Quick Tips free at flippingamerica.net/quicktips.

Episode 360: Zillow Sues Compass, Private Listings Explode & the Housing Market Gets Weird The private listing war just went nuclear. On today's episode of This Week in Real Estate, we're breaking down Zillow's new federal lawsuit against MRED and Compass, a case that could reshape the future of MLS data, private listing networks, portal power, brokerage strategy, and consumer access to housing inventory. Zillow claims MRED and Compass are working together to restrict listing data access and force Zillow to promote private listings, while the broader industry is already locked in a battle over who controls the future of home search. And Zillow isn't the only player making moves. We'll also dig into the growing "brokerage boardroom drama" across the industry, including the launch of Cotality's Broker Listing Exchange with Keller Williams and HomeServices of America on board. The new BLX platform gives brokerages a centralized way to manage listing data, pre-market activity, and distribution across MLSs, portals, and partners. Then we're looking at another major brokerage shakeup: eXp World Holdings acquiring NextHome and pushing toward a new multi-platform model. Add in Real Brokerage, Compass, Zillow, Realtor.com, Redfin, Rocket, RE/MAX, Anywhere, Keller Williams, and HomeServices, and the pattern is clear: the biggest names in real estate are racing to control platforms, listings, data, agents, and consumer attention. We'll also break down what the latest Q1 earnings from Real, Compass, Zillow, and Realtor.com reveal about where the real estate industry is heading. Real Brokerage reported major year-over-year growth before announcing its RE/MAX acquisition, Compass posted strong results following the Anywhere deal, Zillow saw big growth in mortgages and rentals, and Realtor.com has now posted six straight quarters of revenue growth in a sluggish housing market. Then we shift to the housing market itself, where the data is giving mixed signals. Pending home sales hit their highest level in nearly four years, buyer demand is showing signs of life, and home prices posted their biggest increase in over a year. But higher mortgage rates are still weighing on buyers, affordability remains brutal, and the buyer advantage that defined much of the market may already be starting to shrink. And finally, we'll talk about one of the strangest future housing stories of the week: tiny AI data centers potentially coming into American homes. Is this the next weird intersection of real estate, energy, AI infrastructure, and household income? Or just another tech idea looking for a place to land? Today's show is packed with real estate lawsuits, private listings, MLS drama, brokerage consolidation, platform wars, mortgage rates, home prices, buyer demand, housing affordability, and the future of how homes are bought and sold. No fluff. No fear-mongering. Just real talk about what's happening in real estate right now. Topics we're covering: Zillow sues MRED and Compass over private listings The fight over MLS data, PLNs, and listing access Cotality launches Broker Listing Exchange with KW and HomeServices eXp acquires NextHome Real, Compass, Zillow, and Realtor.com earnings Brokerage consolidation and platform wars Pending home sales hit a multi-year high Buyer leverage starts to shrink Home prices rise again Mortgage rates keep buyers under pressure Tiny AI data centers inside homes? Subscribe for weekly real estate news, housing market updates, mortgage rate conversations, agent strategy, brokerage analysis, and the stories shaping the future of the industry.

Jessey sits down with Joe McCall, a real estate investor who has been in the game since 2006 across houses, wholesaling and now land. Joe is seeing something a lot of people are missing right now: direct mail response rates are actually going up, not down. And he has the data to prove it.In this episode Joe breaks down his exact process for finding where the money is moving, drilling down to the right zip codes, and sending simple ugly postcards that get sellers calling. No fancy systems, no secret lists. Just brilliant basics done consistently.If you have been on the fence about direct mail or second guessing your market, this episode will set you straight.What you'll learn: - How to use Landwatch, Redfin and ChatGPT to find the most active markets right now- Why ugly plain text postcards outperform glossy mailers every single time- How Joe averages $750 to $1,000 in marketing cost per deal using direct mail- Why 75% of deals come from follow up and how to build a system around it0:00 Introduction1:11 Why Joe thinks the doom and gloom narrative is wrong2:55 13% response rate on postcards and what that means4:49 How to follow the money using Landwatch and Redfin6:01 Drilling down from state to county to zip code8:38 How to use ChatGPT to analyze sold data fast9:01 Building your list and filtering for motivated sellers10:17 The third notice postcard and how Joe softened it11:06 The ninja trick: answer the phone live when they call12:46 Why 75% of deals come from follow up15:49 Why uglier postcards get more calls18:05 Direct mail response rates are actually rising right now19:03 How many postcards Joe sends per week and per zip code23:49 Why postcards outperform letters every time28:02 Stop reinventing the wheel, go where the money is going32:38 Sell people what they want, not what you haveConnect with Joe McCall:YouTube: https://www.youtube.com/@Joe-McCallPodcast: search Joe McCall on any podcast platformBook: FlipDirtBook.comShownotes:Winning Postcards Framework Webinar / May 12 at 11am PST/2pm ESTSave your spot: www.pebblerei.com/winningpostcards

Keith shows how simple buy-and-hold real estate can be a powerful path to long-term wealth.  He explains how the tax system and inflation often reward property owners—especially those with fixed-rate debt and rental income—turning modest rent increases into outsized gains in cash flow. Keith also explores how broader economic forces and neighborhood trends shape real estate markets, and why even an extra $1,000 a month in passive income can meaningfully increase your freedom, reduce reliance on a single job, and move you closer to financial independence. Episode Page: GetRichEducation.com/603 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.  For predictable 10-12% quarterly returns, visit FreedomFamilyInvestments.com/GRE or text  FAMILY to 66866  Unlock truly passive real estate income—visit flockhomes.com/GRE today to see if your properties qualify for a 721 exchange with Flock Homes. 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— GREletter.com  Our YouTube Channel: www.youtube.com/c/GetRichEducation Follow us on Instagram: @getricheducation Complete episode transcript:   Keith Weinhold  0:01   Welcome to GRE I'm your host. Keith Weinhold. Learn how rent inflation makes real estate investors wealthy. Do certain grocery stores in your neighborhood stoke real estate prices, then how just $1,000 of extra monthly cash flow can be surprisingly life changing. Today, on get rich education,   Keith Weinhold  0:24   Let me ask you something, if you've worked hard to build wealth, is your money positioned to actually support your goals? A lot of accredited investors leave capital sitting in cash because it feels safe, but inflation and missed income opportunities can quietly erode its value. Freedom. Family investments offers freedom notes for investors seeking structured income backed by real estate. It's a straightforward approach built on real assets, not speculation and full disclosure. I'm an investor myself. What I like is that their team walks you through how it all works, so you can decide if it aligns with your portfolio and income goals. Every investment carries risk and nothing is guaranteed, but with a track record of consistent on time investor payouts, they built real credibility. Go to freedom. Familyinvestments.com to book a clarity call or text. Family 266, 866, that's family 268, 66   Speaker 1  1:28   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 Chris,   Keith Weinhold  1:44   Welcome to GRE I'm your host. Keith Weinhold, it's the show that coined the phrase real estate pays five ways. This is get rich education. You learned how to work at your job. The reason we're here is to make you aware that capital compounds labor doesn't, and that's almost why you have to be an investor today. A couple weeks ago, we had tax day in the USA, and that's not quite a holiday. Virtually no one celebrates it. Yes, here in our 250th year of existence as a nation that erstwhile mentioned semi quincentennial. How did America go from fighting a revolution over a 2% tax on a breakfast beverage at the Boston Tea Party to what we pay today? Have you really processed what this has come to now we're taxed when we earn money, taxed when we spend it, taxed when we save it, taxed when we invest it, even taxed when we die with it. And that's just the start. Think about your typical day, your routine. We commute to work in a car, were taxed to register driving on roads. Were taxed to build fueled by gas that's taxed again and then often paying tolls on top of that. Well, those taxes are supposed to maintain the infrastructure, like bridges, highways and tunnels, but yet, they already have billions of taxpayer dollars allocated to them. Then we arrive at an office that's taxed to exist inside a business that's taxed to operate that requires permits and licenses that act like other layers of taxation. When we finally get our paycheck, our employer matches payroll taxes on top of our wages, just incredible. And at the end of the day, we go home to a property we're taxed to own every single year, purchased with income that was already taxed in the first place, and somehow all of this is considered normal. Here's the turning point. Most people when they realize this, feel frustrated and saddened and even victimized. But instead, real estate investors flip the frame from victim to strategist, the same system that taxes seemingly everything quietly rewards those who own assets through depreciation, we report a loss even when the property produces real cash flow. Last week, I told you how you can specifically lower your property taxes step by step, then through mortgage interest and operating expenses, we can reduce that amount of our income that's even taxable at all through long term leverage, we're often repaying debt with inflated dollars, while our tax burden stays surprisingly low, and then it gets even more power. Powerful, more advanced real estate investors use a cost segregation and bonus depreciation to pull years of deductions forward into today. And it's something that's not really that sophisticated or tough to understand either. And then when we sell a property 1031, and 721, exchanges help us defer the capital gains tax. And when you start to think about it, could these turnabouts even get us patriotically excited for a dare I say, semi quincentennial.   Keith Weinhold  5:36   our system of taxation, it can feel punitive. Some high earners lose more than 55% of their income to taxes, both federal and state. Real estate investors don't just earn gains in income. We reshape it. We continue to thrive in a tax system that rewards ownership. Not only is wealth built from owning things rather than having a high salary, tax breaks are gained by owning things rather than having a high salary. And now it's somewhat common knowledge that war leads to inflation. The latest Middle East conflict entails a lot of military spending, and it's been made worse by disrupting an energy producing region. Four weeks ago, I told you about why wars are inflationary and just how bad it can get. That is why the first major wartime inflation reading that we got was so telling. And wow, inflation grew at the fastest annual rate from one month to the next since the pandemic spike back in 2022 it went from 2.4% up to now 3.3% just like that. And with more inflation poised to come along, even if the war winds down, and I want to talk more about how this benefits you shortly. And yes, if you're a newer listener, you're not used to inflation benefiting you, but it benefits the educated and the aware. GRE listener. And first, here's what fewer people pay attention to. M2 money supply that's jumped 4.8% annually to a record of almost $23 trillion now the money supply, this is the 24th consecutive monthly increase the supply was only about $5 trillion back in 2000 10 trillion by 2012, 15 trillion in 2020, and then the pandemic made the money supply explode, and it's almost 23 trillion today. And what does this all mean that the US dollar is losing purchasing power at a historic pace, because, look, inflation is actually not rising prices. The thing that's now up to 3.3% the CPI. Rather, inflation is an expansion of the money supply. It inflates. That is the very etymology of the word people often overlook that. That's why I'm talking about the historic expansion rate of the money supply, and how that can show up in higher prices later. High prices are not inflation. Rather, they are a consequence of inflation. And I want to tell you more about what this means to you, and explain how this builds your wealth in a new way. But first, I mean, my gosh, have you been as flabbergasted about inflation as I am, just at the consumer shelf and aisle level in a store, and I'm a guy that likes to spend money, yet I've got to say sticker shock. It still gives me pause when I'm in a store, even on the cheapest of items, I recently went inside a gas station convenience store after I filled up a regular size York Peppermint Patty, 1.4 ounces cost $3.19 this consequence of inflation has left me slack jawed, but already was a Slack jaw however, has it left you slack jawed? All right, let me tell you about how the wildly overpriced York Peppermint Patty makes real estate investors rich in their sleep. Did you know that the classic economist, Milton Friedman, discussed the concept of get rich. Education's inflation, Triple Crown, essentially. Now we didn't call it that. In fact, he discussed it before GRE existed in 2014 let's listen into this. Friedman won a Nobel Prize in 1976 I'm going to guess that this is him speaking in about 1980 essentially, he. Discuss the first two crowns, which are also the ones that homeowners with a mortgage benefit from which are asset price, inflation and debt debasement. This is about two minutes in length.   Speaker 3  10:11   If I ask people, are you in favor of inflation or not? Everybody is against inflation. But when I explore a little bit further, if I say to people, tell me, have you gained from inflation? Oh, no, you say I haven't gained. And yet, the fact is that a great many people have gained from inflation. There are many, many people who have benefited. Of course, the major gainer from inflation is the federal treasury, as I've already said, but almost everybody who has bought a home in the past 30 years has gained from inflation. He was able to borrow on a mortgage, which inflation has paid off, along with paying off the government debt, so that almost all homeowners in this country are beneficiaries from inflation. Indeed, one of the things that makes inflation such a bad social disease is precisely that it tends to be divisive, because some people do very well during an inflation period, and some people do very badly. And as a result, the population gets split into people who are seeming in great prosperity and people who are in great distress. When most people say they want to stop inflation, what they mean is that they want the prices of the things they buy to go down and the prices of the things they sell to go up. But since what one man sells is what another man buys, that's a neat trick, if you can do it. And as a result, people aren't really serious when they say they want to stop inflation, certainly not in the early stages, not before they fully understand, not before it's gotten to the point where it is really creating serious social problems. Everybody wants to stop inflation at somebody else's expense.   Keith Weinhold  12:11   That was classical macro economist Milton Friedman discussing the rarely talked about benefits of inflation. He also served as an advisor to President Reagan and to British Prime Minister Margaret Thatcher Friedman extolled the virtues of free markets and minimal government intervention. Well, yeah, he discussed the first two crowns of get rich, education's inflation, triple crown. So let me discuss the third one, because you benefit from this when you rent out property. And what's interesting about what I'm going to tell you is that this example is going to make it more apparent than it ever has to you, that rent inflation makes landlords rich in their sleep. In fact, the positive effect on you is even greater than I thought I double checked these numbers I'm about to share with you before I came on the air, because I didn't expect this high of a degree of cash flow enhancement. And also, I was talking about what I'm going to show you on YouTube earlier, and it generated a negative, biting comment from a viewer. I'll tell you about that, but yeah, I showed this to a guy that's been investing in real estate for 36 years, and he didn't even understand this. Here it is with general monetary inflation. Rent inflation is a consequence. So let's keep this simple. Say that you charge rent of $2,000 and that could very well be a realistic rent amount for a single family rental property that our GRE investment coaches help you find today, although the average is probably a little less than that. So in any case, $2,000 rent. When you subtract out your fixed rate mortgage payment of $1,000 and your operating expenses of $800 This leaves you with $200 of monthly cash flow. We'll say that's your scenario today. Next rents rise 3% This means you're getting $2,060 now. Doesn't sound so exciting, yet your mortgage payment stays locked in at $1,000 inflation can't touch it. That's the key to this. Your operating expenses also rise 3% up to $824 This leaves you with cash flow of 236 okay. So what happened there is your cash flow went from 200 up to 236 that's not a 3% gain, inflation gain 3% this is an 18% increase in your income. 200 up to 236, an 18% cash flow spike off just a tiny rent adjustment will extrapolate that effect. Right across your portfolio. I mean, this is like your annual income going from 100k up to 118k and then compounding like that every single year. That is power, because inflation couldn't touch your fixed mortgage payment. And this is something I've explained before. It's the third crown of get rich education's inflation Triple Crown called Cash Flow enhancement. But it's a better example than I've ever had for it, and it's a germane time to talk about it with inflation on the rise again. Now here's an angle. Does what I just explained feel wrong in any way. The thing is, you aren't fleecing your tenant. It's just an adjustment to inflation, a little 3% bump to them, a big 18% difference to you. You didn't get rich off your tenant. You got rich because, again, you're leveraging the bank's money, but you're doing it in a way that most people don't see or think about and of course, mortgage free owners lose this entire benefit. It is just another way that real estate investors get rich in their sleep. Yet few ever understand how. But like I said, I was talking about this on YouTube just a little bit ago, and a commenter simply wrote, this makes you a bad person.   Keith Weinhold  16:27   Now, the viewer of GRE YouTube channel, sometimes it's you, but you know, sometimes it's someone that doesn't listen to this audio show here, where we do more learning, the casual or occasional YouTube viewer. They just probably don't understand all of what you do. But yes, like me, you have probably run into people out there that think that landlords are bad because they charge tenants rent and they adjust the rent as their expenses rise. And some of these people even say something like, I believe housing is a human right. I seem to hear that more and more, okay, that's one thing, but they imply that the taxpayer should pay for their housing. I mean, does that even work over time? You can see how often government provided housing fails and it ends up being exorbitantly expensive when the free market prevails. Instead, you know, I think that this sentiment has gotten a little worse because of the K shaped economy, more people having to sleep in their cars makes those people resentful. America, you know, we're in better shape when we have a strong middle class. What can really help you a lot is if you haven't yet. Finally, watch the three part video series, the inflation triple crown. The video really helps reinforce your learning well, because it's helpful to show numbers on screen, like you can in a video. You can watch that directly by going to get rich education. COMM, slash inflation, Triple Crown, or shorter. You can just go to the abbreviated get richeducation.com/itc, it takes you to the same place. It really shows you how to optimize your income increases and do it the right way. I mean, if someone thinks you're a bad person for raising the rent 3% commensurate with 3% inflation, well, you know what? Then if that person is an employee, should they also feel bad for getting a 3% pay raise at work? Well then they should, right, because they're charging their employer 3% more for their services as an employee. Well, of course, that's okay. So that sentiment doesn't make one bit of sense, all right. Well, let's temper the 3% rent inflation that I used in our example here. There's both bad news and good news around this, because today, rent increases are below average nationally. In fact, Zillow has forecast only a 1.1% rent increase in single family rentals this year. And then the good news is that the average rent increase since 2020 is 6% and we only used 3% in our example. The bottom line here is that few real estate investors ever have the epiphany that cashflow enhancement is yet another significant way that inflation makes them wealthy, and it's just another reason why carefully selected simple buy and hold. Residential real estate makes people wealthy. Just buy and hold you don't have to dig in and do a bunch of aggressive value add or get into a niche like self storage or short term rentals or assisted living homes that you sure can do those things. And there's nothing wrong with niching down. You just don't have to, and sometimes we even discuss those nichey vehicles here on the show. In fact, we've done four episodes on assisted living homes, but it's hard to beat the relative passivity and the durability of simple buy and hold residential not the latest hot thing, not speculation, but just what's proven. But you have to understand these forces and then act on them. I mean, I gave an example there of $200 in cash flow, and since that's only the most visible component of the five ways real estate pays. When you add it all up, you might be getting $1,500 of monthly benefit on a single family rental property that only costs 300k 1500 a month on a 300k property that you might have only put 20% down on. And for that 1500 a month, it might only take one hour per month of your asset managing of your property to get that $1,500 of benefits. So that is $1,500 an hour. That's great, but it's only one hour a month, and that's exactly what makes you want to scale with buy and hold property as soon as you get into a lot of real estate niches, which, again, it can be worthwhile, whether that's self storage or assisted living homes or something like that. Well, now it's more like an active business that you have to run, and you're probably going to spend substantially more hours there. But yes, a guy that's been investing in real estate for 36 years. Did not understand cash flow enhancement from Rent inflation until I showed this to him and watch it all. He watched the three part video series, which, again, you can watch for free at get rich education.com/inflation. Triple Crown or shortened simply, get rich education.com/itc. Open it up now and watch it later, because I'm back with more next. I'm Keith Weinhold on episode 603 of get rich education.   Keith Weinhold  22:13   Flock homes helps you retire from real estate and landlording, whether it's one problem property or your whole portfolio through a 721 exchange, deferring your capital gains tax and depreciation recapture. It's a strategy long used by the ultra wealthy. Now Mom and Pop landlords can 721 the residential real estate request your initial valuation, see if your properties qualify@flockhomes.com slash GRE that's F, l, O, C, K, homes.com/g R, E,    Keith Weinhold  22:49   the same place where I get my own mortgage loans is where you can get yours. Ridge lending group and MLS, 42056, they provided our listeners with more loans than anyone because they specialize in income properties. They help you build a long term plan for growing your real estate empire with leverage. Start your prequel and even chat with President chailey Ridge personally, while it's on your mind, start at Ridge lending group.com that's Ridge lending group.com   Tarek El Moussa  23:23   What's up? Everyone? This is hgtvs Tarek El Moussa. Listen to get rich education with Keith Weinhold, and don't quit your Daydream.    Keith Weinhold  23:30   Welcome back to get rich Education. I'm your host. Keith Weinhold, I'm here in Las Vegas today and staying at the Bellagio with a terrific fountain view room. Yes, the paradox of having a giant water show every 30 minutes in the middle of the Mojave Desert, as it is today, just up the street at the Venetian the big Bitcoin 2026, conference kicks off. I might attend some of the sessions, and I might not. While I'm here in Vegas, I'm more focused on spending time with my brother's family. I know I've mentioned to you before that they live in nearby Henderson, Nevada, and I come here pretty often. You could call me a real estate investor. That's crypto curious. I own a little Bitcoin because I think it has some compelling value propositions as well as a number of problems. I think, like a lot of people, I have more questions about Bitcoin than I do answers, and each time I get a new answer, it just prompts three new questions. Now I plan to shop at Trader Joe's shortly. I'm kind of a weirdo here in Vegas, in the sense that I don't gamble, and rather than eating every one of my meals out, I like to be a little healthy shop at a grocery store and bring good food back to the fridge in my room. Well, how? Do certain grocery store chains impact local real estate prices. And you might have heard about this before, but there's a good new study about it that just appeared in the USA Today. And I kind of like the USA Today, because you can easily find a USA Today article where a columnist wrote a story about me as well. But what happened is an analyst matched more than 32,000 store openings to property prices over 50 years. And one conclusion found that homes in the same zip code as a trader joe's saw their values rise about 6% faster than the national average over three years. Another study found that over five years, home prices near Trader Joe's rose by 49% compared with 45% for homes near Whole Foods and 58% near Aldi. I wouldn't have expected that Aldi is a low cost bargain grocery store. Now there are a couple twists here. First, a higher end grocery store, like Whole Foods, that might very well correlate with a good, more affluent neighborhood, sure, but it also might reflect the fact that home values are high, and that usually is not profitable for long term rentals. And the other takeaway is that grocery stores don't actually cause price appreciation. Instead, they reflect it. These grocery chains, they really invest heavily in site selection, so their presence signals that an area was already trending upward, even before a Trader Joe's arrives in an area, the median household income in a neighborhood hovers around $82,000 and that was the highest in the chains that were studied with a typical home value of 425k and the flip side is also pretty noteworthy, the study found that Walmarts tend to be built in neighborhoods with an average household income of only $49,000 and home values of under 200k plus the home price appreciation Proximus to a Walmart, it ends up trailing the national average by 4% over three years. So really, can we say then that the K shaped economy runs through the grocery aisle? I want to get back to discussing your wealth shortly, but first, let's have a checkup on the economy that you're invested inside every day. Over the past year, the US economy has continued to do well, which has surprised some people, some saying that the economy seems to defy gravity. I mean, look at this point. It has withstood chaotic tariff changes, labor supply shocks, swings to the stock market and then a kinetic war on top of that. And how is it pulling this off? Probably starting with AI investment, including all the data center building you see taking place technology innovation and a consumer that you know, it's funny all these consumer surveys where the consumer feels negative, probably because they keep seeing higher prices, but yet, even though they feel negative, oh, they just keep spending more anyway, the unemployment rate is still really low. The AI build out is significant, and that drives jobs and rents and incomes realize, though, this is a new infrastructure build out. This is substantial, just like railroads in the internet were, and companies racing not to fall behind in the AI boom, that's exactly what fuels the economy and productivity and therefore supports real estate. It's similar in spirit, to the.com boom, really, but this time, there's real revenue, and it ALL Fuels wage growth, which is an antecedent to rent growth. And by the way, have you ever noticed how economists and corporations, they're so addicted to growth in the notion of growth, that if something goes down in value, they call it negative growth. What is negative growth? That's always been a funny phrase to me. Don't you mean a decline? Negative growth? That's kind of like calling growth a positive decline. That's nonsense. Some people are allergic to saying that something is a dip or decline, so instead, they say that it's negative growth. That's sort of like how companies they don't want to say that they're undergoing a round of layoffs instead of layoffs. Oh, they say that we are right sizing. She should just tell it like it is. Now, when it comes to building your wealth, this. Say that you're more of a beginning real estate investor, say that your income from your job is 100k and you might wonder, if I add, say, five properties each with $200 a monthly cash flow, that equals $1,000 a month. That's an extra 12k per year. You know, that really isn't that much of a lifestyle difference. You know, even though there are four other ways real estate pays, let's just talk about this. That's only 12k per year, on top of 100k You know, I contend that that really does make quite a difference. Okay, if your real estate cash flow gets up to 1k a month, and you might only spend four hours a month managing that. It matters more than you think, because of your 100k of job income. All right, after all, your expenses are taken care of, like you pay for your housing, your transportation, your Trader Joe's, groceries, all of that stuff that you spend on. Well, what's left over your discretionary income? That might only be $2,000 per month. So if you add 1000 to that, that is a 50% increase in your discretionary income. What really matters? That's why real estate cash flow is actually a bigger deal than a lot of people think. You just bought back your time. This can help you replace a second job. This can let you cut back hours or even fund a sabbatical buffer for beginners. That's why even a kind of paltry sounding $1,000 a month in cash flow from, say, five rental doors that can actually be a life changer. When you get right down to it, it really starts to change your control over your time, and an extra $1,000 a month can, of course, help fuel your next investment, if you so choose. But that's not all. A psychological shift begins to happen inside you. You're no longer dependent on one income source. This is really the underrated one, because before $1,000 of real estate cash flow, a job loss that could mean stress and urgency and bad decisions, but afterward, now you have margin. Now you're making better decisions in life. You negotiate better you think longer term. That shift alone improves your entire life. And what else can just 1000 a month do for you an extra 1000, it can give you lifestyle upgrades without guilt. Let's say you do spend some of it that can fund travel without touching savings, that can give you better housing or a better location, that can give you experiences instead of a life of what feels like just bills. And here's the key, it does not cannibalize your future. Just $1,000 a month gives you options, like we say around here, don't live below your means. Grow your means. I mean, if you're a beginner, this is something that you could have in less than a year. That extra 1k that comes whether you work that day or not. And for a more advanced investor, you can imagine what multiples greater than 1k per month do. So can you see how everything compounds here? Capital compounds labor doesn't earlier, I discussed how even a 3% rent bump can increase your cash flow 18% all right, and then your cash flow has a greater impact than you thought, because it is discretionary income where a small change can make a world of difference in your life. And when you layer all these things together, it almost makes you wonder why more people aren't real estate investors. Well, most people just have not had it explained to them this way before, and then other people give up after starting in real estate because they don't buy the right property in the right market.    Keith Weinhold  34:16   Here at GRE we really help you avoid those mistakes. And in fact, let me give you an example of what I mean. This can really help. Redfin reports that national home prices have jumped up again, rising 2.1% annually, but yet, a place like Florida, they still have year over year housing price declines, not negative growth declines, and that's due to a temporary overbuild, like I've talked about before. But Cape Coral, Florida homes that area has been hit harder than most with more building than most places, they're actually down in price 3.8% it looks like an opportunity, and people say they want an opportunity. What they really want is certainty, and once certainty arrives, the opportunity is gone. Winners often embrace the heterodox. They're willing to lean into the sort of uncomfortable, mildly contrarian, awkward moment right when others are hesitating, some Florida brand new property builders. They're getting creative, and the translation to creative is that they are motivated. They're offering to throw in the kitchen sink and the backsplash. Here's one example, a duplex in Cape Coral, Florida. The listing price is 550k it's in an A class neighborhood. The rent is 3890 both sides of the duplex are already leased, six beds, four baths. It's 2474 square feet. The down payment you can expect to make is 25% the projected cash flow is up to $1,096 per month. Yeah, you've potentially got your surprisingly life changing 1k in cash flow in one fell swoop here and here's where it gets interesting, a 3.75% mortgage rate, buy down and one year of free property management. They're either giving you that or take $25,000 cash instead and structure your own advantage. All right, that's what this certain builder is offering. Now, a reputable builder, in fact, they've been a guest on the show here before. You can push the envelope a little further than that. I encourage you to make an offer below the list price on these property types. Yes, offer lower than the 550k how much lower should you go? That's where a free chat with our investment coach gives you an inside edge, because, see, they know what other offer amounts were accepted previously by these sellers, so they know where the real flexibility is, and they've got all kinds of what I'll call specific deal knowledge like this that you're just not going to find anywhere else. Our coaches can also help you with other inventory, if it better meets your personal objectives than something like a Florida new build duplex. Usually, those places are in the Midwest and South, from Ohio out to Missouri and Georgia out to Texas. In full disclosure, what I just described is a better deal than any Florida properties that I personally own myself. Now it is clearly a buyer's market in Florida. We're in that fleeting window where long term demand is strong, short term supply is high, and builders are motivated. So take the free consult, or maybe no properties are right for you. Once our coach learns more, if you're interested, we can help you structure a smart offer. Talk to us. We can help you build an entire portfolio, if you so choose, and find the right markets and properties with a management solution, we've got the team and the contacts, you can make your process easier than guessing and figuring it out on your own. Often like to leave you with something actionable at the end of the show. I encourage you, if you think it's right for you, book time with a friendly GRE investment coach@greinvestmentcoach.com you can find an open slot on their calendar and book it again@greinvestmentcoach.com Until next week, I'm your host. Keith Weinhold, don't quit your Daydream.   Speaker 4  38:54   Nothing on this show should be considered specific personal or professional advice. Please consult an appropriate tax, legal, real estate, financial or business professional for individualized advice. Opinions of guests are their own. Information is not guaranteed. All investment strategies have the potential for profit or loss. The host is operating on behalf of get rich Education LLC, exclusively,   Keith Weinhold  39:14   the pre preceding program was brought to you by your home for wealth, building, get richeducation.com  

Keith explains how to increase real estate cash flow by appealing and reducing property taxes.  Then welcomes high‑energy real estate investor and educator Thach Nguyen.  Thach shares his refugee‑to‑multimillionaire story, breaks down his roadmap to retiring with rentals, and explains how ADUs (Accessory Dwelling Units) are transforming both investor returns and affordable housing—especially in Seattle. Resources: Follow @ThachNguyen on Instagram and all major social platforms. Episode Page: GetRichEducation.com/602 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.  For predictable 10-12% quarterly returns, visit FreedomFamilyInvestments.com/GRE or text  FAMILY to 66866  Unlock truly passive real estate income—visit flockhomes.com/GRE today to see if your properties qualify for a 721 exchange with Flock Homes. 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— GREletter.com  Our YouTube Channel: www.youtube.com/c/GetRichEducation Follow us on Instagram: @getricheducation Complete episode transcript:   Keith Weinhold  0:01   Welcome to GRE. I'm your host. Keith Weinhold, talking about how to increase your cash flow by obtaining a successful appeal and reduction in your property taxes. Then real estate personality Thatch Nguyen and I discuss mindset and some creative real estate techniques today on get rich education,   Keith Weinhold  0:23   the same place where I get my own mortgage loans is where you can get yours. Ridge lending group and MLS, 42056, they provided our listeners with more loans than anyone because they specialize in income properties. They help you build a long term plan for growing your real estate empire with leverage. Start your prequel and even chat with President chailey Ridge personally while it's on your mind, start at Ridge lending group.com that's Ridge lending group.com   Speaker 1  0:57   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  1:13   Welcome to GRE from Mount Holly New Jersey to Hollywood, California and across 188 nations worldwide. I'm Keith Weinhold. This is get rich education, and I'm still not wearing Dockers, and I am in Hollywood, California today. More on that later. Among all the major investment classes when it's bought right real estate is the second safest investment class to bonds. Bonds are the safest among them all. Real estate has the highest returns, so it's the second safest and has the highest returns. And that's why it's our focus on this show. But if you want to be in real estate for two years or less, well, then it's likely best to invest elsewhere, at least with long term rentals, because you need time to defray your transaction cost. And for real estate pays five ways to start compounding. Coming up shortly, it's pretty popular real estate personality Thatch Nguyen. He will be here, and I did not know Thatch until recently, when we were introduced by our mutual friend Scott Saunders. And Scott, who I had on the show here a few years ago, is one of the nicest guys you'll ever meet in real estate. Well, besides those high return, low risk real estate attributes. Of course, when you own property directly, you also get a big measure of control if you want it. Now, control comes really with that option A lot of times to get involved and make your real estate investing less passive, just an option, because successful real estate can be as simple as buy and hold, but today we're discussing strategies. If you want to get a little hands on, if you so choose, you can attempt a successful appeal of the amount of property tax that you're paying. And of course, every dollar that you lower your property tax is $1 where you increase your income. And this feels like a germane conversation, since tax day in the USA was just last week. Ah, yes, property tax, hmm, it's like a version of the government charges you rent on your own property in perpetuity. That's what it is. And before I get into how to potentially get your property tax lowered, property taxes are under pressure. Some states are still making their serious push to completely eliminate the property tax, namely in Florida, Texas and Indiana. Those are three of the front running states, probably the big three. And I won't get into all of that again, because I devoted an episode segment to that topic a few months back. Others are considering elimination too, Georgia, North Dakota, Pennsylvania, Ohio, Oklahoma, South Dakota, but it's just more talk than anything in those six states. Now, if a state undertook property tax abolition, it would probably only apply to owner occupied property, homeowners or voters, and those property values would soar. But these new comparables, what they could do, in turn, is lift the value of your out of state rental property as well, because you could always sell your investment property to an owner occupant. But in my opinion, no state is going to eliminate the property tax. I mean, sheesh, it's kind of like trying to eliminate gravity. It's just too hard to replace the revenue from elsewhere. Schools, police and fire and infrastructure heavily rely on property tax, so instead, what's realistic is a tax cap, a ceiling on the amount of property tax that you pay, and with an income producing property of course, your tenant essentially pays the property tax for you now, even before buying a property or for one that you already own, the most accurate way you can check the tax amount for your exact address is on the county assessor's website.    Keith Weinhold  5:38   The next best places are listing websites like Zillow and Redfin. This is all public information. The way to find a county assessor's website for your property is with a simple four word search. What you should google is the county name, and then the words assessor property search, those are the only four words that you need. And then what if you discover that you're paying more than you are for nearby, similar properties? Oh, well, there we go. That's a sign that you're over paying. You can usually file an appeal form at the same website. And before we talk about how to do it, realize that only about 5% of property owners ever file an appeal, and in a bit, I'll tell you what your percent chance for success is at lowering your property tax, your chances of it being lowered. So if you believe that you have a case for lower property taxes, first, it helps to know what you're arguing. And this is important, it's something that can trip you up. You're actually not arguing that taxes are too high. You're arguing my property is overvalued compared to the market. That's it. That's your basis of contention. Yeah, if you walk in talking about things like fairness or inflation or government spending, then you've already lost the county assessor's office isn't the place for your best rant on how fiat currency is garbage or something like that. Now you might not even have to physically walk in anywhere today. Sometimes you can get your appeal rewarded informally. Other times you go before what's called a Board of Equalization in most places and in person, hearings have become less common. Video calls have become quite a bit more common since the pandemic, but you want to review your property details with them. You want to be sure to point out if there's incorrect square footage or the wrong lot size, or missing depreciation, or condition issues or upgrades that are overstated and even small errors can swing your value by 10s of 1000s of dollars and then, and it's whether this is with rental property or with your own home build your comparables Like an investor, not a homeowner, because this is really where you win or lose. You need three to five strong comparable sales in the same neighborhood, or really close ones that sold recently, ideally within the last six months, and they should be of a similar size and age and condition. And then make adjustments. Inferior comps support a lower value. And we don't just want to cherry pick garbage comps. We want to keep it credible, and then for your best chance of getting your property tax lowered, find your angle, and really this is your leverage point. Most winning appeals hinge on one clear argument, either a condition gap, meaning that your property is worse than the comps are, or it's an argument like market timing, and this is if values have softened since the assessment date, or the income approach for rentals. Therefore it's the value based on noi, not emotion. You could take that track or other external issues like noise or location drawbacks or obsolescence, so only pick one of those four primary arguments here, condition, gap, market timing, the income approach or external issues and document everything. This is really where you separate yourself. You want to show photos and have them dated and be clear and honest. Nothing dramatic there repair estimates or contractor bids, inspection reports, rent rolls or income statements. So you're not telling a story. You're presenting evidence this way, and be sure to package it cleanly. This matters more than you think. Assessors see sloppy appeals all day. So you're going to stand out by being organized and concise, like a one to two page summary and some exhibits, and keeping it professional meaning, no emotional language, so you're making it clean and easy for them to agree with you, and this is the place to be. Calm and not combative. It isn't a debate club. It's the right form to be respectful, stick to facts, not interrupt and not get defensive, because the person across from you, they actually did not set your rate, they didn't set your tax rate, they're evaluating your evidence, and then it's helpful for you to know the likely outcome. You don't need a gigantic win, even a five to 10% reduction, that can mean 1000s saved over your life of owning the property. You want to remember that some jurisdictions are more flexible than others, and if you're denied informally, like just doing it online, then you can often escalate your property a tax appeal to a board review. And this is a long game, not every swing is going to end up in a base hit. Investors have an advantage. If you own rentals, you've really got a stronger argument, because you can use that income based verification like cap rate and noi, you can show actual rent versus market rent, and you can highlight your expenses, and assessors often default to sales comps. So this is how you can shift the frame here. The blunt truth is that when people lose appeals, it's usually because they show up unprepared, or they argue emotionally, or they just don't understand valuation. And so this is one of those rare moments where being methodical is actually better than being smart. 40 to 60% of property tax appeals succeed nationwide, and with professional level prep, you can make that 70 to 80% for a success rate, and the typical result if you win is a 10 to 15% reduction in assessed value. So that can be worth doing. And you know, just like buying your first out of state rental property seems to be the hardest. Making your first property tax appeal seems to be the hardest as well. And there you go a way to reduce your expenses and increase your cash flow. Yes, I am in LA today, West Hollywood, California. Though I do expect to produce some real estate media here. That's not the typical Hollywood type filmmaking that I'm doing, I just happen to be staying in Hollywood, although I do plan to run up to the Hollywood sign and do some fun stuff out at Venice Beach. Later next week, I will be in Las Vegas, and will probably even bring you the show from the Bellagio with a view of the Bellagio fountain. As for this week, let's meet our guest.   Keith Weinhold  12:49   This week's guest has an amazingly powerful story. Today. He's quite well known in real estate circles for his high energy in person events, but he came to the United States as a Vietnamese refugee, experienced homelessness early in life, and went on to build a real estate portfolio valued at over $100 million I'm not making light of the fact that he's homeless. Once I started talking about this, he kind of, you know, beat his chest a little bit. He's a high energy, playful guy here, but he's completed more than 1000 real estate projects and transactions through his mentorship program, he's helped 1000s of people build long term Real Estate Wealth with his platform, it's called springboard to wealth, and along the way, he's built a strong audience, with 1.4 million followers on Instagram. Hey, welcome to the show Thatch Nguyen.   Thach Nguyen  13:41   I'm honored to be here, my man, I'm honored   Keith Weinhold  13:43   to hear, Oh, it's so good to do it Thatch. And before we're done, we'll discuss some actionable tactics. But first, that is just an amazing story to have started from homelessness. I guess I'm most interested to know what you would identify as kind of that turning point from destitution to success. Talk to us about that.   Thach Nguyen  14:03   You know, coming from Vietnam, we was a refugee. We left out of the last plane. My dad was a translator for the US Army. Back in the days, military pulled out of South Vietnam during the war, they asked my dad, would you want to leave with us? And so we decided to leave. But of course, my dad, the owner, who actually spoke some bit of English. None of us didn't speak no English. We only had $100 one suitcase for eight of us, gosh, and I was five years old. But if my dad didn't leave, he would have been captured, and then he would have been killed. Because you work for the US government, because it's still, you know, is a communist country, right? And so we left, we came over here, we landed in San Diego, lived in the shelter out there, and then we moved up to Washington State, Seattle, and lived in a shelter there for a few months. And then finally, we lived in a sponsorship house, right, with a guy named Charles Zettler. I graduated from high school in. 88 I went off to fix aviation airplane my two older brother, because they in the aviation business. And then I got a job working for Alaska. But I didn't want to leave to Denver to go work out there, so I decided to stay back. And I went to work at, you know, like, odd job, like at a body shop. I was the dairy manager at a grocery store, like, called Ralph. Was called Safeway, and I was parking car in Chinatown. And I think the pivoting point was, I'm sitting there, and one of my friends says, you know, you would do very well in real estate, yeah, because you have a good energy, you have a good mouthpiece, I think you do well, see, but I didn't hear all that. I heard you get 7% commission checks. Oh, Sign me up. You know what? I think, but I didn't realize quickly, selling real estate, you don't make that kind of money unless you do a lot of volume. I got to real estate. I started doing well in real estate as a agent. But the tipping point, I think, for me, was a mentor named Saul. And Saul said to me, Keith, I know you appreciate this. He said, You can be rich selling real estate for the rest of your life. Yeah, you'll never be wealthy unless you own the real estate, right? And that was the light bulb that came off of me that I need to take the money I make from selling real estate to then Park the money in long term rental. But I didn't quit my real estate. I just bought real estate, rented it, let it ride. And I just kept selling real estate for years. And at the moment I made, the more property I bought. The moment I make, the more property I bought. And then from there, I just start to learn new construction. I start to learn fix and flip. I start to learn about the BRRRR strategy. And then today, you know, we're going to talk more about this. But today, the hot thing is adu and accessory dwelling unit, and that's what I do a lot today is a lot of new construction, a lot of ADUs.   Keith Weinhold  16:49   Oh, that's great to hear about your come up. Fetch, yeah, I find it remarkable, too, the amount of people that are in the real estate industry, and they're doing something adjacent to being an investor, which I think is the best place to be. For example, they're a property manager, or they're a mortgage loan officer or the real estate agent, but yet they don't own rental real estate, right? They're so close. How could you not be doing this?   Thach Nguyen  17:13   And I say today, because I understand this. Now, if you don't take the active income you make from whatever you do, say, as a real estate agent, then you always trading your time for money for the rest of your life, and you're always on that treadmill and that grind, but you can't get off, because the moment you get off, Keith, you got no income, and you got no passive income either. So you're stuck on this wheel like a hamster that you got to keep running until you old and die.   Keith Weinhold  17:40   Well, you know, it's unavoidable to talk about you've got the word mindset on big letters on a hooded sweatshirt that you're wearing right now, so, you know, I think you're touching on it somewhat. But yeah, talk to us more about this mindset and how to break through the barriers. Because most people's connotation with income is merely that they have got to trade their time for dollars.   Thach Nguyen  18:01   Of course, you know, mindset is 80% of the result that we want, that we get. Because someone could have a mindset to go, I'm going to be the top real estate agent, and that mindset would drive them to be the top agent for many, many year. But they always trade their time for money so they never get wealthy. I have that mindset because I was selling 100 homes a year in my early 20s. But when Saul said to me, you know one day that when you get into your 40s and your 50s, do you want to keep trading time for money, or do you want to trade your money for time? And see, that's a mindset shift. And of course, who want to be in their 50 Keith with a gun in their head, always trading time for money. And so when I heard that, it shifted the mindset to, you know what, I'm going to make money selling real estate because I need that money, then I'm going to take that money and park it into a rental. So when I get into my 40s and my 50s, I have the option to work or not work, and that was a mindset shift. So owning rental property is a mindset more than a strategy.   Keith Weinhold  19:08   I and I think a lot of us, came up with the mindset that, oh, you get wealthy by obtaining a high salary, and then no later, you learn you don't get wealthy through high salaries, especially if wealth equals freedom, you get wealthy through owning assets. So Thatch after you know your homelessness, and you're new to the United States, and you've come up like you described, and you realize that real estate is the way in doing it with a relative amount of passivity, rather than actively being in it as a realtor, you sort of get this roadmap for retiring with rental properties, even from starting at zero like you did. So tell us more about that roadmap to retire with rental properties.   Thach Nguyen  19:47   You know, when I started, I had this roadmap where you got to learn what you need to learn about real estate investing, what why do you want to own it? What's the benefit? What would it do for you? At the end of the day, and a lot of that is goals and vision and mindset. For me when I got clear Keith on the knowledge, because I start off with knowledge. And of course, I want to own real estate. But here's the thing I always want to say to people, nobody want to own real estate. Just to own real estate, right? They want to own real estate. So what it would actually do for you. And so for me, I think when I was younger, I was counting the doors, but now I got older and wiser, I count the hours I get to have back. So the mindset for me is that when I got clear what I wanted to do was I wanted, you know, the option of working at work, that I also wanted to retire my mom, my dad, right? And then I also wanted to actually help my kids learn how to do this one day, so that they have the same mindset. So those are the reason I in want to invest in real estate. Of course, have an asset, have a net worth, come along with a secondary so once I understand the knowledge of why I'm doing it, I got this clear vision. I got this horizon. Now I'm inspired to actually go out there and take action. Now the action is, what do I want to buy for me? I started with single family. I started with buying ugly houses and rehabbing and keeping it, and then worked my way into multifamily and apartment building, all doing value add today. So those are my action, right? So I'm inspired. I take the action, I make money doing what I'm doing. But then I asked myself, How many property do I need? But it's not even how many property I need. How much passive income do I need to get out of the rat race? I have the option of working at work. For me, when I was like, 21 years old, I said to myself, I have $30,000 a month in passive income, and I'm debt free. I mean, who couldn't live off 360,000 of you debt free, right? Yeah. So I had to go to go after so many doors based on what the rent is, to accumulate it and then to pay them down so I can be out of the rat race as soon as possible. And once I did that, then I started playing the game accumulation again. So today I have a whole set of properties paid off. That's why I have over 100,000 a month in passive income. But I also got a whole bunch of property paid off yet, which I don't care, because this ought to get paid up by itself anyway. But now I'm playing this game where I'm gonna accumulate more property or trade up at the same time pay down other property I want to pay off, so that when I get into my 60, my 70, a lot of it paid off, and I still got other property. I don't know. I don't mind accumulating, because I love to play the game of real estate. So this is the road map that I you know, that my mentor saw. He's a very wealthy Jewish man that taught me. And today I'm just taking that lived it my own life now I'm just sharing it back to other people   Keith Weinhold  22:42   that you said so many interesting things there. I think the most is how you talked about your metric is more outcome based. I think we all think through how many doors we have, and you know, even how much passive income that translates into, but you talked about how many hours you're able to win back way that you can quantify that.   Thach Nguyen  23:05   If I ask someone, I go, Hey, how much does it cost you to live personally every month? And most American will probably say, 10,15, 20,000, Max. And I said to them, what have you had that much in passive income? How would you feel? And 99.9% of it were like, my god, that will be amazing. But the problem we all go to the seminar, we see people on stage. They got 100 doors, 200 door. They got 1000 doors. And nobody needs that much to get out of the rat race, right? So I say the most American is, look how much it costs you to live. Look at the lifestyle you live. You have that in passive income, and if you choose to keep working in active income, it's just a cherry on top of the cake.   Keith Weinhold  23:47   Yeah, there are so many ways to do it. We talk here about being financially free rather than debt free, and sort of letting leverage and inflation in tenants work to our benefit. But you've got this separate way of doing it. You're listening to get rich education. We're talking with real estate, personality, Thatch Nguyen, more when we come back, including some actionable tactics. I'm your host. Keith Weinhold,    Keith Weinhold  24:09   let me throw out a simple idea, sometimes doing nothing with your money is actually a decision. Leaving it parked might feel safe, but over time, purchasing power changes. So the conversation isn't about chasing returns, it's about intentionally placing money somewhere. Freedom, family investments works in real estate people use every day. Housing, senior communities, essential properties, things tied to living and not trends. Their freedom notes offering is built for accredited investors looking for structured income backed by real assets, not speculation. I am an investor with them myself. The Freedom team makes themselves available to walk through their approach, structure and operating philosophy so you can ask questions and determine. Alignment before moving forward, while past performance doesn't guarantee future results, their historical operating philosophy has yielded 100% investor payouts backed by over 20 years of experience. If you want clarity before making any moves, book a clarity call@freedomfamilyinvestments.com or text family to 66 866, text the word family to 66 866.    Keith Weinhold  25:31   Flock homes helps you retire from real estate and landlording, whether it's one problem property or your whole portfolio through a 721, exchange, deferring your capital gains tax and depreciation recapture. It's a strategy long used by the ultra wealthy. Now Mom and Pop landlords can 721 the residential real estate request your initial valuation, see if your properties qualify@flockhomes.com slash GRE, that's F, l, O, C, K, homes.com/gre,   Caeli Ridge  26:09   this is Ridge lending group's president, Shaylee ridge. Listen to get rich education with Keith Weinhold, and remember, don't quit your Daydream. You Keith, welcome   Keith Weinhold  26:27   back to get rich Education. I'm your host, Keith Weinhold we're talking with Thatch win real estate personality, and you know Thatch, on the way up, you've really employed a lot of methods. You're knowledgeable about House hacking and burrs and small multifamily in ADUs. ADUs is something that we haven't talked about here very much. And for those that don't know what that is, we're talking about an accessory dwelling unit, right? Typically, a secondary housing unit on the same lot as a primary residence. You can sort of think of it like a backyard cottage in a lot of cases. So tell us Thatch, what got you into ADUs,   Thach Nguyen  27:03   well, Seattle, about five years ago, was one of the first city and state to adapt this Adu, because the biggest problem we have across America is affordable housing, yeah, and a shortage of housing, let alone a shortage of affordable housing. So Seattle came up with, Hey, we will let you. Got built an accessory dwelling unit in the backyard, maximum 800 square feet, but you have to live in the front house to build the back house. Okay? People got excited. They built it so they can rent it in the back. They live in the front house. But then that didn't really solve as much affordable housing for you to buy. It helped with rental. And then about a year, you and a half later, they came over stage shoe to go, you know what? We're gonna allow up to 1000 square feet of adu. But you don't have to live in the front to build the back. Now, people got excited. Investors go, Oh my God, let me go buy a property. Let me go build something. Rent both of these out, right? And then if they want, they could sell the whole entire piece, you know, with somebody, and that was great, but it still wasn't enough. And then about a year you'd have, later, they came up with stage three. They go, You know what? We want to help create more housing for you to buy. So now what we're going to deal with, we're going to actually give people separate APN tax number for the house in the front and the adu in the back, so you can sell off any one of the and by doing that, they value the house as a single family, and they value the back as a single family, so they can comp it like a house, not as a duplex. And that blew the lid off. I mean, in Seattle, that was a game changer. I mean, like builders started coming in, they're buying property. They they building and they selling these. They're making a killer on it. And then show you how much crazy it is. Okay in Seattle, if you buy the house in the front, you gotta get the land the back freak, because it came with the house. We could build 1000 square foot all in it cost us about $400,000 but with a separate parcel number, they comp it as a regular house. So regular houses right about 1000 square feet, they sell for about $700,000 so you build for four is worth seven, and you can actually design it in four months. Get permit, because they have a special line for adu. And then you can build this. You can actually have it all done in one year. So you instantly create massive equity in one deal. But here's a beautiful part of it. In Seattle's expensive city, it's hard to get the 1% rule. You know the 1% rule with, you know 1% of what you pay for a property, a $200,000 house, you get $2,000 for rent with Seattle, a $700,000 house, you get 4000 but the Adu, it only cost us 400,000 but it's worth 700 but my mortgage is based on 400,000 I can write it for four grand, and I meet the 1% rule Now   Keith Weinhold  29:52   a way to recent rent to value ratio, right?   Thach Nguyen  29:56   So now Adu, they are all. All across America, because two years ago, all the city planners and all the people for other state they came to Seattle for a private, hush, hush meeting to ask Seattle How you guys doing this, and so they can go and copy. So in the last two year, Adu has spread across America like wildfire.   Keith Weinhold  30:19   This is great. Tell us more. And of course, it's going to depend on a lot of factors, but tell us more about that cash on cash return that you're getting after stabilization with an adu.   Thach Nguyen  30:29   Yeah, it's beautiful. So when you have a property that's worth 700 and it only costs you 400 it has so much equity, the bank will finance 100% of the construction cost, so you don't have to come up with no money. Great. So then if you finance 100% which is 400 right, 400,000 the mortgage only three grand, and you ran for four in Seattle with making positive cash flow with zero down payment. So that's infinite return on your money.    Keith Weinhold  30:56   Yes, that's a really beautiful thing to get the infinite return when you don't have any equity left in That's right?   Thach Nguyen  31:03   And the thing is, people can do that across America now, but most city right now on stage two, they don't have the APN. But right now, a lot of city right now are on the verge of going from two to three. Right now, I've been going out there buying home that you could actually Burr, make the house in the front. Work make a cash flow. Have the backyard sitting there, and then you can build it anytime. You can build it now, just for the cash flow. Or you can build it when you get the separate APN. So you can get two separate parso You can sell one, keep one. But bottom line is, if I was anybody out there, I'll be buying property. Now, make it work like you would already be buying, but just make sure you get a backyard so you have access to the back.   Keith Weinhold  31:46   Okay? So in some situations, using the burr strategy on the primary residence with an adu, burrs, buy, renovate, rent, refinance and repeat, beautiful.   Thach Nguyen  31:55   That's what I call the atomic bomb, the burr. Add the adu to the back. Boom. But I'm gonna give your audience something that they can even look forward to. Seattle in November of 2025 this went into stage four. Now in stage four, single family in the front, if the lot's big enough, you can put instead of one, you can put 234, or five property in the back, if the lot's big enough.   Keith Weinhold  32:23   Yeah, this is great. I mean, it solves the problem of affordable housing, and it increases the density in a lot of these metro areas. Yes, right, Thatch, it sounds like Seattle's having a good deal of success with the ADUs. How is that when you extrapolate it out nationally, and are there regulatory bottlenecks out there.   Thach Nguyen  32:40   The only bottleneck right now is most people right now are in state two, where they can't separate it. So if they buy a burr, they can add the house in the back. They just have to be able to comp it where there's a house and another house in the back. So what they do is they look at two different type of comp. They look at, what does it duplex sell for in the area? They could use that as a comp. Or if this is a 2000 square foot home, and you got another 800 square foot, what's a 2800 square foot home is going for? Because they can be added this to the main house, so they can create the ARV. Does that make sense? Yeah. And the only challenge, challenging is that a city that's new, they have to use comp like duplexes and square foot. It to come up with the ARV.   Keith Weinhold  33:23   That's really good. Okay, so Seattle's had these four phases of ADUs, if you will. And then what's next for ADUs?   Thach Nguyen  33:30   I think what's gonna happen after phase four is that all these single family one day will all go to multifamily. It's already in multifamily. You got a single family in the front. You can build three in a back. They're all three single family. But technically it's multi unit, right? It's called multi unit, but it's still on single family zoning, because, you know, the bulk of the real estate where I still have land, or the residential, because most commercial, you and I know, they built out on all the land on the lot, so the biggest portion left is the single family. So this is why I've been doing the adu. And I think in the future, Phase Five could be those single family that whole area might get up zoned to multifamily, more density.   Keith Weinhold  34:11   Yeah, upzoning, that term for allowing more dense housing term really originated because you're building up vertically, although that doesn't have to be the case every time. And yes, I mean, this is really a great way to solve the affordable housing crunch in the United States. I've seen other cities where single family zoning only was allowed now allows for duplexes. That's a common way to upzone as well and fetch you really often talk about creating affordable housing, like we're discussing here, while you're building wealth. Can you speak to us more about that? You kind of get a give back that way?   Thach Nguyen  34:46   Yeah. This is a mindset thing. There's a mindset that says, right? And some people believe it. Some people don't. I love what Zig Ziglar said, Right? Zig. Zig says, If you help enough people get what they want, you eventually get what you want. Yeah. And so. If you go out, then you make enough difference to the world. Take a look at Bill Gates. One day, he probably saying, You know what, I'm going to figure out how to make a computer to actually help your life better, faster, more efficient. And his goal was to do it worldwide. So he solved that problem, and in return, he has massive financial freedom. So for me, real estate isn't just real estate. Real estate what it would do for me as an outcome, real estate also give me an emotional contribution, which is, if I make a difference out there, creating more housing right, to make it more affordable, to make it most of people gonna buy it. What does it do? For me? It will actually fulfill the hierarchy of life, which is contribution. Because once you have money, the only thing that fulfill human being beyond money is life fulfillment.   Keith Weinhold  35:48   That's right. I mean, hey, it's a little brash, but in the business world, really no one cares about you until they know how much you can help them.   Thach Nguyen  35:56   You got it, brother, you got it right. That's why do you think so many wealthy people do thing in nonprofit world, because at some point it was all about them at the beginning. Now it's about basically giving back. So imagine, on your way going to success, you do both, you make a difference and you benefit also. And it's a more fulfilling journey than a journey just push, push, push and grinding and not taking care of you in the process.   Keith Weinhold  36:23   Well, if that's your events, they give you this mentorship platform. And I think you've actually pointed to how mentorship accelerates your own real estate success, even though you're trying to help others first.    Thach Nguyen  36:34   Yeah, you know for me, I always knew that the more you learn, the more you earn. And so what? 1995 I met my first mentor, Saul and then I met my other mentor, Mike ferry. And if I'm there, I met Wayne Dyer, who became one of my great mentor, Tony Robbins, Deepak, Chopra, Abraham Hicks, I mean, all these great people, right, that I got exposed to. And today I still have multiple different mentor from fitness mentor, spiritual mentor, business mentor, you know, financial mentor, and they I have regular meeting with these folks, because I want to constantly, always feel I'm growing mentally, emotionally and financially, physically, and I know that the more I learn, the more I can actually make a difference to other people coming behind me   Keith Weinhold  37:21    even Michael Jordan had his own team of coaches. Yeah, you see, that's why, that's how we all get better with that, you've really helped so many people with your mentorship, your contribution to the industry. Let our audience know how they can learn more about you.   Thach Nguyen  37:36   Yeah, if you gotta go to my Instagram, it's Thatch Nguyen this my name, and you go to YouTube, I drop YouTube every single week. It's my name. Also that's when. And you can find me there. You can find me on Instagram, tik, Tok, Facebook, everywhere. That's where I inspire and empower people all over the world about real estate and mindset.   Keith Weinhold  37:54   If that's before, I ask you if you have any last thoughts as you look him up, it's spelled T, H, A, C, H N, G, u, y, e n, fetch. Let us know if you have any closing thoughts.   Thach Nguyen  38:04   Yeah, this has been on my mind lately a lot. If you want to be successful at anything, you got to get single minded focus. And I remember when I was in Tony Robbins training, we used to do fire walk a lot. And when you are doing fire walk, you have to get single minded focus. And the only thing that you will focus on is perfect health, perfect health, perfect health. As you walk in across five feet, six feet, seven feet, and you have to really stay focused on perfect health, perfect health, perfect health, perfect health. And if you don't, and I've seen what, people lost their concentration and they burn their feet halfway through. But I also see people so powerful where they can walk halfway stop, bend down, pick up a coal and keep walking. Don't burn because they really focus on single minded focus. So I want to say to everybody, make sure you clear on where you want to buy, what you want to buy, and then once you know where you want to buy, what you want to buy, get focused on your main job is to figure out how to find deals every day, because that's your main job. If you can find deal, you solve all of your personal problem.    Keith Weinhold  39:15   I am so with you on the focus of concentration, because diversification is a word that we're fed, and there's something to be said for that. But if you want greatness in anything, you really need to double down and focus. It's sort of like Andrew Carnegie said, put all your eggs in one basket and then watch that basket. Yeah. Well, that's when this has been great. It's been good to have you here on the show.   Thach Nguyen  39:35   I appreciate everybody we talk to y'all soon. Peace out.    Keith Weinhold  39:44   Yeah, good energy from Thatch Nguyen. He's based in Seattle. When you don't live in an investor advantage area, you have to get creative or scrappy, and he's doing it well, using ADUs and a lot of value add if you're merely investing. Investing on the side, well, then you're probably better off with a turnkey type investment, something that's not quite so hands on, but if you're devoted full time to real estate, then you really have some ideas there that you might want to pick up on. He wore a sweatshirt that says mindset on it during our chat. I like that. I mean, real estate investing isn't all about mindset, but that's surely where it begins for the production team here at GRE that's our sound engineer, bedroom Jampa, who has edited every single episode since 2014 QC and show notes, Brenda Almedares, video lead, brendawali strategy, talimagal, video editor, seroza, KC, and producer me, we'll run it back next week for you. I'm your host. Keith Weinhold, don't quit your Daydream.   Speaker 4  40:50   Nothing on this show should be considered specific, personal or professional advice. Please consult an appropriate tax, legal, real estate, financial or business professional for individualized advice. Opinions of guests are their own. Information is not guaranteed. All investment strategies have the potential for profit or loss. The host is operating on behalf of get rich Education LLC, exclusively.   Keith Weinhold  41:18   The preceding program was brought to you by your home for wealth building get richeducation.com  

In this episode, Rudy Mahosky pulls back the curtain on how he built a real estate business where 98% of his deals come directly from agents on the MLS.Whether you've been intimidated by on-market properties or struggle with appraisals, this episode is packed with actionable advice on how to let the buyers determine the value, lean on local experts for land development deals, and leave your ego at the door to get more contracts closed. Be a part of the TTP training program now.---------Show notes:(0:00) Beginning of today's episode (0:46) How Rudy shifted to closing 98% of his deals directly with agents on the MLS (3:10) Using Zillow and Redfin to target fresh listings under 14 days on market (5:43) The "Everyone Gets an Offer" strategy and why you should always use an LOI (11:38) The truth about appraisals: Why ready-and-willing buyers determine true value (15:31) Deep dive: Breaking down a Nashville teardown deal that sold for $25K over list price(23:21) Why networking with local land gurus and understanding zoning is a game-changer(28:07) Utilizing tools like Offer Gun to track and manage MLS offers----------Resources:ZillowRedfinGoHighLevelOffer Gun@RudyMahosky on Instagram To speak with Brent or one of our other expert coaches call (281) 835-4201 or schedule your free discovery call here to learn about our mentorship programs and become part of the TribeGo to Wholesalingincgroup.com to become part of one of the fastest growing Facebook communities in the Wholesaling space. Get all of your burning Wholesaling questions answered, gain access to JV partnerships, and connect with other "success minded" Rhinos in the community.It's 100% free to join. The opportunities in this community  are endless, what are you waiting for?

Keith explores how long-running social and economic shifts are redefining the American Dream—especially for younger adults who are putting off milestones like moving out, starting families, and buying homes.  He connects these trends to today's housing scarcity, elongated renter stage, and what that means for long-term rental demand and real estate investors. Keith also zooms out to place the current moment in the sweep of American history, then welcomes Redfin Chief Economist Dr. Daryl Fairweather for a data-driven conversation on affordability, supply constraints, renting versus owning, and how demographic changes could shape the next wave of opportunities in both ownership and rental markets. Episode Page: GetRichEducation.com/601 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.  For predictable 10-12% quarterly returns, visit FreedomFamilyInvestments.com/GRE or text  FAMILY to 66866  Unlock truly passive real estate income—visit flockhomes.com/GRE today to see if your properties qualify for a 721 exchange with Flock Homes. 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— GREletter.com  Our YouTube Channel: www.youtube.com/c/GetRichEducation Follow us on Instagram: @getricheducation Complete episode transcript:   Keith Weinhold  0:01   welcome to GRE I'm your host. Keith Weinhold, learn just how far behind today's 30 year olds are then American history by decade as the nation approaches its 250th birthday. Finally, a conversation about what's next for the housing market with Redfin's chief economist Darrell fairweather today on get rich education.   Corey Coates  0:27   Since 2014 the powerful get rich education podcast has created more passive income for people than nearly any other show in the world. This show teaches you how to earn strong returns from passive real estate investing in the best markets without losing your time being a flipper or landlord. Show Host Keith Weinhold writes for both Forbes and Rich Dad advisors and delivers a new show every week since 2014 there's been millions of listener downloads of 188 world nations. He has a list show guests include top selling personal finance author Robert Kiyosaki, get rich education can be heard on every podcast platform, plus it has its own dedicated Apple and Android. Listener phone apps build wealth on the go with the get rich education podcast. Sign up now for the get rich education podcast, or visit get rich education.com   Keith Weinhold  1:10   the same place where I get my own mortgage loans is where you can get yours. Ridge lending group and MLS, 42056, they provided our listeners with more loans than anyone because they specialize in income properties. They help you build a long term plan for growing your real estate empire with leverage. Start your prequel and even chat with President chailey Ridge personally, while it's on your mind, start at Ridge lending group.com that's Ridge lending group.com   Speaker 1  1:44   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  1:54   Welcome to get rich Education. I'm your host. Keith Weinhold, the voice of real estate investing since 2014 almost nobody talks about a really important story going on in America today. And I find this really astonishing. I mean, you could almost never think of America the same way again, as you'll hear while you've got these other headlines out there, constantly sucking oxygen out of the room, like decisions from the White House and inflation and wars. One big story. It moves so slowly that it kind of creeps up on you. It is the jaw dropping change in American society over the last 40 years. And then we'll discuss its seismic changes for real estate. And this is sourced from a Census Bureau supplement. It's about how fewer us adults reach typical life milestones by age 30, and this is partly because more adults opt for college than in previous generations. Oh, well, college doesn't sound like such a bad thing. I'll get to that. And by the way, 30 is an age that has come and gone for me, so I've lived through it. We're looking at a period from 1985 to 2025 so 40 years first, it's those that live on their own. In 1985 it was 83% today it's just 67% so then the percentage that don't live on their own and probably live with their parents or roommates, that has doubled. You see even more drastic declines for other milestones since 1985 those that have ever married from 77% down to 45% those that live with a child and the responsibility that this entails that's fallen from 59% down to 36% and those that own a home 48 down to 29% and again, this is for all 30 year olds since 1985 this steady, sliding, relentless decline of those who live on their own, are married, have a child, or own a home, is pretty stunning, and this is inside the most powerful nation on Earth. And here's the thing, this pattern from about 40 years ago, it unabatedly crosses through booms and busts and bubbles and bailouts, sort of like it didn't even notice those things. Somewhat ironically, what's grown during this time is the percentage that have a bachelor's degree. It's gone from 25 up to 43% so therefore, here we. Are. We've got this generation that's better educated than ever, and yet more of them are stuck down on the launch pad. It's like we built better rockets yet we can't light the fuse. And before I help you make sense of this and tell you what I believe the main force behind it to be, you just got to consider what an unfathomable aberration this has all become. At age 25 James Madison was the key architect of the US Constitution. A lot of constitution signers were in their 20s and 30s. At age 21 Steve Jobs started Apple in a garage at 20 Bill Gates co founded Microsoft at 19 Mark Zuckerberg built Facebook in a dorm room. And sure, some of these are exceptional examples, but these people committed early, and then they figured it out on the fly.   Keith Weinhold  5:59   Well, what about women? The US birth rate has hit an all time record low, because today, nearly half of 30 year old women are still child free. Okay, so some of this is logical. You can connect a few dots here more time in school, yeah, all right, that means later marriages and later kids. Sure, student debt that equals financial Gravity Boots that keep you in place. Urban living means smaller spaces. But when you stack all this together, like I just laid out later, it's not just later anymore. It is really later. That is the huge change that really startles you when you put all of this together and again, remember, over this same time span, 1985 to today, I've mentioned before how the average age of the first time homebuyer has ballooned from 29 up to 40. I mean 40 that can really take some time to sink in. And again, that's just the average in high cost housing areas. This number could be 45 or higher. I mean, sheesh, the starter home is now like a midlife purchase, and it's made right around the time that your back starts to make decisions for you, consider where we are here now, the term home ownership that is increasingly linked to older people. Those things home ownership and older people are increasingly synonymous terms. Now, owning a home, it's like a luxury good for the already established. I mean, it is pretty jaw dropping. And one contributor to these friends is the lack of available housing supply, still a 60 to 70% collapse in some populous northeast states, but really something like that. That's just a small thing. When you amalgamate it all together, it's become cultural really. The bigger trend that underlies this decline in meeting life milestones at age 30 is that long term true inflation exceeds wage increases over the decades, but there are big social shifts too. And by the way, I left my parents home for good at age 23 and some surely do so younger than I did marriage and children, they are the classic triggers to buy a house, and the longer that these type of milestones get postponed, the more likely people are to favor then flexibility over committing to a mortgage, and this then means that there is an elongated renter stage of life. Renters are no longer just passing through they're no longer just graduated from college, renting a year or two and then buying a home. Instead, they are planting flags and really pounding in stakes. And there are countless surveys that show that renters value the ability of being able to relocate without the hassle of having to sell a house. And on top of all of these trends as America ages overall, something really interesting starts to happen. This is why single family rentals have really begun to shine over the past few years, and why you had this Advent and popularity of new build and build to rent rental properties coming onto the market because single families give people the feeling of home and space and privacy and a backyard for the dog, but yet at the same time, it's commitment light, a lighter version. Now apartments benefit too, of course, and for investors, this isn't just. The trend, this is a long term tailwind, fewer life transitions. It means more stable occupancy and longer renter life cycles that lead to fewer turnovers and vacancies and repairs, so less churn, more consistency and better predictability. So the bottom line here is that this delay of life milestones, it's not subtle. It is pretty seismic, and increasingly people say that the American dream no longer even includes home ownership. Demography is destiny, and they must rent from you. And here at GRE we invest like these trends are real, but I really want to emphasize that this elongated renter stage of life really is a long term, long tail phenomenon. And I want to emphasize that because, like I said last week, in the short term, we really aren't seeing any significant rent increases due to that affordability constraint. Now we're nearly five years after America had a big wave of consumer inflation, and that really hurt kind of people this age that I'm talking about, people in their 20s and 30s, that really hurt them the most because they don't own assets that compound with the concurrent asset price inflation, they only had to deal with the bad stuff, the consumer price inflation.    Keith Weinhold  11:30   And as America approaches its 250th birthday, let's think about how this era compares to other decades. And by the way, do you know what a 250th anniversary is called? I put a line about this in my newsletter that I sent you the other day. It is called a semiquincentennial, or, I guess, semi quincentennial. I don't think that anyone's going to be using that word after the fireworks. Semiquincentennial. That sounds like a word that an Economic Committee came up with during a recession to kind of mask a worse problem or something. I suppose that the etymology makes sense. If you break it down, quincentennial would be 500 and semi would be half of 500 in any case, as you try to compare this American era to others, listen to this from the parallel truth. This is about three minutes long, and then I'll come back to comment. It's America by decade, starting all the way back in the 1770s This is a decent summary here, although it can get unnecessarily gloomy at times.   Speaker 2  12:41   Imagine you could live in the United States one decade at a time, not the America you see in movies, not the America in textbooks, but the real America. Let's start with the 1770s the decade of independence. This is not a freedom story, yet. It's a war story. Most people are farmers, roads are mud, medicine is almost nothing. And if you're a young man, your future is simple, fight or starve. Then came the 1800s The decade of expansion. America is still small, but it's hungry, new land, new states, New promises, but there is also growing slavery. Native tribes are being pushed out, and the country is quietly building a conflict it can't avoid. Now it's the 1860s the decade America almost died. There is civil war, Brother versus brother. Cities are burning. If you lived here, you didn't watch history, you survived it. Next is the 1900s The decade of industrial America, factories, railroads, steel, oil. The country becomes a machine. Cities explode with workers, but life is brutal, long hours, dirty air, child labor, you might earn money, but you will pay with your health. It's the 1920s now, the decade of jazz and madness. This is America's first big party decade, cars, radio, Hollywood. Everyone thinks the future is unstoppable. Then came the 1930s the decade the party ended. The Great Depression happens, banks collapse and jobs disappear. People line up for bread. A man with a suit could be broke in one week. This decade teaches America one lesson, that money is not real until it's in your hand. It's the 1940s now the decade America became the world's boss. World War Two turns the US into the world's factory. While Europe is burning, America is building. And when the war ends, America comes out richer than anyone in history. It's the 1950s the decade of the American dream, suburbs, big houses, one salary supports a whole family, TV dinners, new cars, new highways. This is the decade America sells the world the idea of perfect life. Next came 1960s the decade of rebellion, civil rights, Vietnam assassinations, the country feels like it's splitting. You could be hopeful or terrified, sometimes both in the same week, 1970s was the decade the system started breaking, oil crisis, inflation, crime rate, and in 1971 America quietly changes money forever. The dollar stops being backed by gold. From this point onward, America runs on trust. It. The 1980s the decade of Wall Street, America, big business, big spending. The stock market becomes religion. America looks confident again, but the middle class starts weakening slowly. Then came the 1990s the decade America felt unstoppable. The Soviet Union has collapsed and the US feels untouchable. The internet is born. This is the decade where Americans truly believe that they have won. It's the 2000s now the decade of shock, 911, wars, fear, surveillance, then 2008 hits, banks crash, housing collapses, and America learns something painful. The people who caused the crisis don't pay for it. It's the 2000s and 10s, the decade of the digital trap. Social media becomes reality, politics becomes war. Everyone is online, but nobody feels connected. The economy recovers, but normal people don't. And finally, it's the 2020s. The decade, chaos became normal. Pandemic changes everything. Supply chains are collapsing, inflation returns, AI arrives and trust collapses. And by 2026 America is still rich, but it feels exhausted. People are working harder, owning less, and trusting nobody. And the strangest part is that America didn't collapse. It just slowly became a different country, not through invasion, not through revolution, but through decades of small changes that added up to a completely new reality. So the real question is, if you could choose one decade to live in? Which one would you pick?   Keith Weinhold  16:22    Yeah, which decade would you pick to live in? A lot of people say the 1950s where we had, like they touched on there the post war boom and how one salary could support an entire household. Some people say the 1990s because the Cold War ended, we had the start of Wide Internet use, and it's before you had these stark political divisions where people started to put party ahead of country. Now some people would probably say, Are you kidding me? I'd rather live in this decade right here. I can work from home more easily than I ever could have before. And I think you can make valid cases for all of those things. And speaking of this era, a quarter just ended, and we do this quarterly at most. It's our asset class rundown. Year over year, national home prices are only up about half of 1% per the nar 1% Case Shiller and totality, single family rent index shows just 1.3% rent growth. That's year over year. This quarter, the s, p5 100 was down 5% stocks of all types are down largely to the Iran war. The yield on the 10 year treasury note rose from 4.1 up to 4.3% due to higher inflation expectations. Why does that matter so much? That's what influences 30 year mortgage rates, which also rose from 6.2 up to 6.5% West Texas Intermediate oil prices soared from 59 bucks to over 100 last quarter. Gold hit an all time high of 5400 bucks in the quarter, and then fell to about 4600 by the end of the quarter. Other precious metals hit their all time peak. Bitcoin fell from 88k down to 68k That's the asset class rundown. I'll return with Redfin's chief economist, Dr Darrell fairweather and more. I'm Keith Weinhold. You're listening to get rich education.    Keith Weinhold  18:18   Let me throw out a simple idea. Sometimes doing nothing with your money is actually a decision. Leaving it parked might feel safe, but over time, purchasing power changes. So the conversation isn't about chasing returns, it's about intentionally placing money somewhere. Freedom, family investments works in real estate people use every day. Housing, senior communities, essential properties, things tied to living and not trends. Their freedom notes offering is built for accredited investors looking for structured income backed by real assets, not speculation. I am an investor with them myself. The Freedom team makes themselves available to walk through their approach, structure and operating philosophy so you can ask questions and determine alignment before moving forward. While past performance doesn't guarantee future results, their historical operating philosophy has yielded 100% investor payouts backed by over 20 years of experience. If you want clarity before making any moves, book a clarity call@freedomfamilyinvestments.com or text family to 66 866, text the word family to 66 866,    Keith Weinhold  19:41   flock homes helps you retire from real estate and landlording, whether it's one problem, property or your whole portfolio through a 721, exchange, deferring your capital gains tax and depreciation recapture, it's a strategy long used by the ultra wealthy. Now. Mom and Pop landlords can 721, the residential real estate request your initial valuation, see if your properties qualify@flockhomes.com slash GRE, that's F, l, O, C, K, homes.com/gre.   Robert Helms  20:16   Everybody. It's Robert Helms of the real estate guys radio program, so glad you found Keith Weinhold and get rich education, don't quit your Daydream.   Keith Weinhold  20:35   This week's guest is the chief economist of Redfin during the housing crisis. She worked at the Boston Fed, studying why homeowners enter foreclosure. Since 2023 she served at the Federal Reserve Bank of Dallas. She holds her BS from MIT, and she really knows her way around campuses, because she received her Master's and PhD in Economics at the University of Chicago, where she specialized in behavioral economics, that's interesting. Welcome to GRE. Darrell fairweather,   Daryl Fairweather  21:06   thank you for having me.    Keith Weinhold  21:08   Hey, Daryl. I'd like to get to some of the statistics later in the things that Redfin does and compiles, but tell us about the behavioral side of the housing market that's often so interesting and evencounterintuitive   Daryl Fairweather  21:22   yeah, one of the most interesting things about the housing market is that people get really emotional when making this huge financial decision. It's something that people don't have a lot of practice with. Most people maybe buy a home once or twice in their whole life. There's so much social weight that's put on it. It's the American dream. There's a lot of family pressure, and there's a lot of hurting behavior that can happen. People get swept up in the moment. Maybe they overbid on a home, or maybe they miss out because other people are avoiding the housing market. So it's a really interesting place to both study psychology and economics.   Keith Weinhold  21:56   Sure, most homeowners are just inexperienced at this whole thing. Yeah, behavioral economics, it really has this strong gravity in real estate. Maybe something that you've said touches on what I call the Zestimate illusion. A lot of times, sellers anchor their price to not just the Zillow estimate, but sometimes even the peak sale price in the whole neighborhood, and that's what they think that they should get for their home?   Daryl Fairweather  22:21   Yeah, that does happen quite a bit. And I don't think a lot of people realize how much those estimates can move once a home is listed. The list price tends to move that estimate quite a lot. So it's not a fact. And those estimates don't really know many details about the home, like what upgrades might have happened, or what internally is happening within the home, like if people have gotten new appliances or gotten a new air conditioning system, it doesn't really take those things into account. So you shouldn't just anchor off of the Redfin estimate. You should definitely talk to an agent. Look at the comps. The comps can tell you a lot in terms of what homes have sold for recently, and then track your local market in terms of whether it is going up in value or down in value, because those comps might be a little bit stale, and you have to adjust for where the market is right now.   Keith Weinhold  23:06   There's some really good points there. And when I think of the behavioral side of economics in the real estate market, another nascent thing that comes to mind Darrell, is the rate shock paralysis that really set in in America in 2022 mortgage rates are still historically on the low side. But few people think about it that way. They're really swayed by the recency bias   Daryl Fairweather  23:31   yes. And one thing to take into account, though, is how much home prices have gone up since the last time rates were this high. So if you're looking at the monthly mortgage payment and how much that is compared to people's monthly incomes, it is quite expensive to buy a home. In most metros, you cannot afford to buy a home on the local median income. There's only maybe four metros that are in the middle of the country where it's still affordable to buy a home on a middle class salary. So combined the rate and the price those mortgage payments are still quite expensive, although they have gotten slightly more affordable since last year because rates are slightly lower than last year, they did come up a bit with, you know, oil prices coming up, but still, compared to last year, rates are a bit lower and a bit more affordable to get a home.   Keith Weinhold  24:13   And of course, all this is besides the point that those 2021, mortgage rates, they were born out of a collapsing economy, and I don't think that we really want that either. But yes, to your point about affordability, that's been such a buzzword in the housing market for quite a while, and for good reason. It wasn't very long ago that we reached a 40 year low in affordability. Can you tell us about what can improve affordability next? Darrell or what's most likely to happen? For example, it seems like insurance rate increases have really leveled off.   Daryl Fairweather  24:50   Yes, the reason why affordability is so bad, especially in coastal cities, the places that have the most opportunities, is because of a lack of supply. Existing homeowners, they are fine. They like when their home goes up in value, but it really is a problem for first time homebuyers, when prices just keep climbing and when new housing gets proposed, it's often the existing homeowners who are blocking that housing from getting built, and so supply is constrained. You can see this very clearly in a place like San Francisco, which had a huge economic boom in the 2010s yet housing did not keep up with all of the job opportunities that were coming to the area, and when you have all these people moving in with higher incomes, it drives up prices when there isn't adequate supply. You take Austin as another example. Austin had a huge boom during the pandemic, but supply responded. Builders built, there was a lot of development that happened, and as a result, prices came right back down. They're still above where they were pre pandemic, but nowhere near the heights that we saw back in 2021 so it just goes to show that when you allow supply to get built, it does help keep prices more moderate and keep things more affordable.   Keith Weinhold  25:59   Yes, and nimbyism is rampant, is consumer inflation or some of the other big forces out there, for sure, but yes, this national dearth of supply something that's existed even well before the pandemic, for example, it's bounced back somewhat, but still not quite enough, and it's really part of what, in my opinion, has helped support housing prices, even when mortgage rates tripled back in 2022 Can you tell us more what you believe about the future of housing supply with all the data that you do with there at Redfin Daryl,   Daryl Fairweather  26:37   housing supply improved a bit during the pandemic, but we're still far below What we need in order to make housing more accessible to middle class people. But there are new challenges that are coming. One that you mentioned is insurance. Insurance costs are going up. So even if you have a fixed rate mortgage and you've locked that in, you still have to worry about the rising cost of ownership because of insurance costs are going up. Property taxes are going up in many places, and maintenance costs are increasing. So that is going to make home ownership, and just the cost of ownership in general, whether you're an investor or an owner occupant, more expensive moving forward. And that's going to vary depending on where you are. There going to be some parts of the country where insurance goes up much faster, like in Florida, and other parts where insurance will probably be more stable like in the Midwest and Great Lakes region. So it's important now even more so to really research the neighborhood, research the home, and figure out how those expenses could increase in the future.   Keith Weinhold  27:32   Yeah, here we are in this housing market where, you know, Darrell, I think of it in a lot of ways, is, you know, maybe for three years now, we've largely been stuck in the mud, much of it due to lower supply, where we have a lower overall proportion of both buyers and sellers.   Daryl Fairweather  27:48   Yeah, what's happening right now is really an hangover from the pandemic, because so many people locked in 3% mortgage rates during the pandemic, and if those homeowners were to sell and buy again. Even if they bought the same priced home, they would end up paying more in their monthly mortgage payment because of how much higher mortgage rates are, and that's holding back supply quite significantly. It's the reason why prices have not come down despite rates going up, is because the higher rates are holding back both demand and supply at the same time, and contributing to the overall lack of inventory that's out there,   Keith Weinhold  28:24   this aberration where we have a big proportion of American homeowners living in homes where if they tried to repurchase that home at today's terms, they couldn't even do it. To your point about people not wanting to move, and that's a big reason why they almost can't. They might pay more in rent elsewhere for a like property if they were to sell what they own, if those still locked in terms and Darrell here, I think, you know, our audience is largely real estate investors, a lot of them investing in one to four unit properties. So with what you're seeing there at Redfin. And I think a lot of us know that, yeah, rent growth has been pretty slow as well. What do you see for rents in 2026 and perhaps 2027   Daryl Fairweather  29:08   originally, when we went to go do our predictions for 2026 we said that rents were going to increase this year. Now, I think that rents will continue to stay flat, and that's because there's still a lack of demand for for sale housing. People are staying in the rental market, but people are overall tightening their budgets because they're worried about the economy. They're worried about inflation. So if they can, you know, get roommates or live with family, they're going to choose to do that to keep their overall expenses lower, which will reduce demand for both for sale housing and for rental housing. And I think a lot of home sellers, they've tried to sell their homes. We saw many people try to sell their homes last year and then end up delisting their homes, and they're trying again. We saw more of those people come back in January, but I think those people are going to continue to kind of try to test the market, be a bit disappointed that there isn't enough demand, and then some of. Up for sale housing will end up as rental housing. Just driving around my neighborhood, I see so many rental signs on single family homes that I never saw before, almost more for rent signs, and I'm seeing for sale signs, so that added inventory from these accidental landlords who would like to move but don't want to give up their mortgage rate is going to increase the supply of single family rentals, and that will mean more competition for those investors that are trying to rent out the homes.   Keith Weinhold  30:27   Talk to us about rental occupancy. That's something that we're seeing at a historic low in apartment buildings, for one thing. But can you talk to us about what you see for future occupancy levels of both residential one to fours and apartments. Going forward,   Daryl Fairweather  30:43   a lot of new supply came online during the pandemic, especially in places that build a lot of condos. Many one bedroom or zero bedroom condos got built, and then those are really difficult to rent out, because, you know, they're just not that attractive. We really have more of a shortage of types of housing that's appropriate for families and those one bedroom units that are really targeted at like affluent young people. There aren't that many affluent people right now, so they're they're difficult to rent out. I think that trend is pretty much over. We're not seeing too many more condos being developed because the condos that were developed during the pandemic are still having trouble finding owners or finding renters in those apartment buildings. Now, I think we're going to start to see an uptick in single family rental vacancy, because I think a lot of those people who would like to sell their homes are having trouble selling their homes because of how mortgage rates are and how skittish people are about making a commitment to ownership right now, and they're going to alternatively try to rent out those and that will mean more availability of those rentals and not as much pressure on rents to go up in that segment of the market.   Keith Weinhold  31:51   Woe for the builder that targeted young, affluent types, they don't really exist so much anymore. That's really pretty interesting. Well, Darrell, do you have any last thoughts overall about the housing market? Maybe something I didn't think about asking you that's really important, whether that's for an investor or a prospective homeowner.    Daryl Fairweather  32:12   Yeah, I think if I was an investor right now, I would be paying attention to what economists and housing people call the silver tsunami that's older generations starting to sell their homes. We did a study recently that showed that people who are 70 years and above have as much wealth and housing as middle aged people, which is the first time that group has exceeded in terms of the wealth that they hold. And if you're 70 plus, there's definitely a clock ticking on how long you're going to stay in that home, which means that a lot of new inventory will become available in those homes. They probably need work. They probably need some renovations, and that could be a really great opportunity for an investor to buy a home that maybe has been neglected for a while because it's been a senior living in there who hasn't been really keeping it up to date. You can renovate it and perhaps sell it again to a younger buyer by doing some updates and make a nice profit there.    Speaker 3  33:03   Oh, well, Daryl, this has been a great update laced with plenty of practical things that someone can actually do. Do you have a resource you'd like to share in case our audience would like to connect?   Daryl Fairweather  33:16   Yes, you can find me basically on any social media channel. I'd recommend checking you out on YouTube to start. And then if you would like data on what's happening in your local housing market, you can check out the Redfin data center. Just Google Redfin data center, it'll bring you right there. And you can find lots of local data on your market,   Keith Weinhold  33:34   Daryl Fairweather. It's been great having you here on the show.   Daryl Fairweather  33:37    Thank you.   Keith Weinhold  33:44   Yeah, insightful material from Dr Darrell fairweather today, no end to the housing scarcity in sight. She says, rents continue to stay flat, partly due to this accidental landlord. They didn't plan to be a landlord, but they need to move and yet they don't want to sell the single family home that they got with a good owner occupied financing a few years ago. And the reason that's a headwind for single family investors, because it keeps more rental supply on the market. Last week, I touched on how you should not expect rent increases in the near term, I own a lot of single family rentals myself, and I am not getting rent increases. It's not so much that single family vacancies are high now, but apartment building vacancies are high. That fact alone that actually does hurt the single family rental market a little, because even though a renter might desire a single family, and maybe you think, Well, an apartment couldn't compete with that feeling. But yet, if an apartment is so much cheaper than the single family, and they often are now, well then that renter will go for the cheap apartment instead the one. You can think of Redfin is that they're part Zillow, part real estate agent, and part data company, and they can give you early signals on things like buyer demand and price direction and days on market, those types of indicators. So for the latest housing market research and news, you can do a search for the Redfin data center, and then for Daryl, start on YouTube. You can follow her on x at fairweather PhD, thanks to Dr Darrell fairweather today, until next week, I'm your host. Keith Weinhold, don't quit your Daydream.   Speaker 5  35:36   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 to   Keith Weinhold  35:56   the preceding program was brought to you by your home for wealth, building, get richeducation.com  

Keith challenges the belief that all debt is bad and reframes it as a tool for building wealth when used intentionally.  He contrasts destructive consumer debt with productive investment debt, especially in real estate, and explains how inflation, long-term fixed-rate loans, and rental income can work together to grow net worth.  Keith explores the mindset shift from prioritizing safety and being debt-free to pursuing growth through leverage, highlights the opportunity cost of avoiding debt, and offers practical guidelines for using borrowing rationally rather than emotionally.  He also shows how modern economies and many wealthy individuals rely on strategic debt, positioning it as a key part of a more intentional, asset-focused version of the American Dream. Episode Page: GetRichEducation.com/600 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.  For predictable 10-12% quarterly returns, visit FreedomFamilyInvestments.com/GRE or text  FAMILY to 66866  Unlock truly passive real estate income—visit flockhomes.com/GRE today to see if your properties qualify for a 721 exchange with Flock Homes. 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— GREletter.com  Our YouTube Channel: www.youtube.com/c/GetRichEducation Follow us on Instagram: @getricheducation Complete episode transcript:   Keith Weinhold  0:00   welcome to GRE. I'm your host. Keith weinholder, there's bad debt, good debt and great debt. Are you using debt wisely, and are you ensuring that you stay in debt? Because debt is the American dream today, on get rich education milestone episode 600   Corey Coates  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 include top selling personal finance author Robert Kiyosaki. Get rich education can be heard in 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   Keith Weinhold  1:06   the same place where I get my own mortgage loans is where you can get yours. Ridge lending group and MLS, 42056, they provided our listeners with more loans than anyone because they specialize in income properties. They help you build a long term plan for growing your real estate empire with leverage. Start your prequel and even chat with President chailey Ridge personally while it's on your mind, start at Ridge lending group.com that's Ridge lending group.com   Speaker 1  1:40   You're listening to the show that has created more financial freedom than nearly any show in the world. This is get rich education.   Keith Weinhold  1:56   Welcome to GRE from Kennewick, Washington at Kennebunkport, Maine and across 188 nations worldwide. I'm Keith Weinhold, and you are inside get rich education. Yes, America's favorite slack jawed mammal on a microphone has got his act back on track, for your listening pleasure, since 2014 This is our 600th wealth building week in a row, you've been misled, not maliciously, not even intentionally, but somewhere along the way, a really expensive idea got planted inside your head, and it was once planted inside my head, that debt is bad, just blanketly bad, that the goal is to be debt free, that owing money to somebody else is something to escape as fast as possible. And look, I get it, if your mindset is in the old middle class consumer credit world like mine was for much of my life, debt feels heavy, it feels like risk, it feels like obligation, but the people telling you to avoid debt, they're the same people that never built much wealth now a reliance on 22% APR, credit card debt just To pay basic living expenses, because it's the only way that you could do it, merely making the minimum monthly payment that right there is the road to ruin. Why? Well, because the interest rate is high, because you have to pay it back yourself, and because it's unsecured, meaning that there's no collateral, and at the same time, the people quietly getting rich, what are they doing? They're using debt every single day. So debt is not the enemy, it's just the tool, and like any tool, it can build a house, or it can smash your thumb if you miss the nail. Well today we're going to separate the two, because if you understand this one concept, then you stop playing defense financially and start going on offense. In fact, I'll go further. Debt isn't the opposite of the American Dream used correctly. Debt is the American dream. Now, my turning point was really fueled when I made my first ever home, that $295,000 blue four Plex Building Two decades ago, with just my three and a half percent down payment. That meant that 96 and a half percent was borrowed. That's debt, and that fueled everything for me, and got the ball rolling on using that seminal four Plex to leverage even more debt and more property with 1031 exchanges and cash out refinances debt made that American dream free. Me because I could not have afforded $295,000 all cash back then. Now, a guest that we had on the show last year and the owner of a commercial lending company, Hannah Hannan, she recently talked about the virtues of debt. I met Hannah because we were both faculty members on last year's real estate guys Investor Summit at sea cruise. Well, Hannah went on a different cruise and saw in Jamaica that there were all these vacant and uncompleted houses just sort of weirdly stuck at different stages of construction. She asked the tour guide, why are these houses all abandoned? And and the tour guide answered, we don't have loans here in Jamaica. People have to work make money and then start the build, and then the build pauses while they make more money, and then they have to construct the next phase of the build as they go and go back to making more money like that. I mean, sheesh, that's awful. Can you imagine if you had to build a home or a rental property for yourself that way? Well, back here in the US, access to debt is what allows people to build wealth faster, especially in real estate, you can use other people's money control large assets, pay less in taxes and compound off a much smaller amount of capital. That's the difference. Debt availability is really good in the US compared to other nations, and that's the emphasis on the American part of today's episode. Debt is the American dream. Now, when it comes to the big misunderstanding, most people think that debt is really just one thing. They just lump it all like it's all bad, credit cards, car loans, student loans, mortgages. A lot of people, they really do. They just still throw it all into one mental bucket that's sort of labeled da, avoid that at all costs. I'm telling you, no way you cannot do that. I mean, this is like saying food is bad because candy exists. No, there's junk food and there's fuel. It's the same with debt. Consumer debt is a wealth killer. Investment debt is a wealth creator, and if you don't know the difference well, you end up avoiding the very thing that could move your life forward. Here's another way to think about it, debt doesn't make you poor. Using debt poorly makes you poor.    Keith Weinhold  7:36   In real estate, inflation is quietly paying your mortgage, even if you never made a principal payment at all. When you really understand this, it almost sounds too good to be true. Most people think inflation is just rising prices, and it is that, but they miss the other side of the equation. Inflation also shrinks debt, something I've been talking about for more than 10 years here. If you have a 30 year fixed rate mortgage, you're paying back that loan with future dollars that are worth less, and meanwhile, rents tend to rise, wages tend to rise, and asset values tend to rise, but your mortgage, it stays fixed. Inflation can't touch it, and that means that over time, your payment gets easier and easier to make. Oh, and then if you've got a tenant in place as well, oh, they're the one sending in the check for everything. And inflation is not just happening to you. It's now working for you. If you've got, say, a $500,000 mortgage loan, and inflation is 3% well, then inflation enriched you by $15,000 every single year. That's $1,250 a month just on this 500k mortgage loan. And if you've got an investment property rented out. You've even got the tenant paying down, oh, maybe $400 in monthly principal for you on the property, plus this $1,250 in inflation profiting, plus $100 of cash flow. This is $1,750 in monthly benefit before we've even added in your tax benefits and the appreciation potential. What made this all happen debt is what made it all a reality for you. When we talk about why the middle class fears debt, yeah, there is a mindset divide here. On one side, it simply says, get out of debt, stay out of debt and avoid risk. On the other we ask, How can I use that to acquire assets? So it's really like the first group is focused on safety and the second group is focused on growth, and after a while you have to ask bigger X. Potential questions like, do you want to live a life of safety, or do you want to live a life of growth? Now, I'm not knocking discipline, but there is a hidden cost to avoiding debt entirely. It's called opportunity cost. When you pay all cash, oh, well, then you lose leverage, you lose scalability, you lose tax advantages, and you often lose time. Hey, just like I would have by postponing my first four Plex purchase for, say, five plus years until I could have saved up all that money by myself. That's why playing it safe is often the riskiest move, because while you're sitting on the sidelines, inflation and rising prices are still in the game, and you've taken yourself out of the game. When we talk about the American dream, look, America was built on debt leverage.    Keith Weinhold  11:01   Zoom out for a second. This isn't just about you and me. America itself was built on debt. Railroads were financed with borrowed money that helped Cornelius Vanderbilt build his railroad empire in the 1800s in the 1900s highways were funded through government debt. Today, our entire suburbs are built on mortgages. Leverage didn't break the system. It built the system. So it's kind of ironic that today people are told the safest move is to avoid the very mechanism that built this modern economy that you and I are living inside every day. Debt is how things get done. Now, practically, yes, debt can absolutely wreck you if it's used poorly. So we think about some simple guardrails then favor fixed rate debt over variable match long term debt with long term assets, and you want to chiefly borrow for cash flowing or appreciating assets, and also stress test your deals assume that things won't go perfectly. So this certainly is not about being reckless. It's about being intentional. Debt should serve you, not the other way around. And now notice how I said to chiefly use debt for cash flowing or appreciating assets. I didn't say solely because you'll remember how last year, I talked to you about how I bought a new car for myself and financed as much as I was allowed, almost 100% debt. I had to make, like, a two or 3k down payment on the car because it was a special order. And once they start, you know, building it and customizing it for me, well, then they're at risk if they don't have a deposit, all right? Well, I found a way to make this car debt pretty good debt. Oh, and you might be thinking, oh, yeah, of course. Well, if you use it for business, you probably get some deductions that way. Oh, no, no. Business use totally a personal car, almost leveraged to the hilt, but it's not bad debt, and I'll tell you why. By the way, this isn't some high end exotic car. It's a BMW x3 SUV. It was like 53 or 55k and now how could I possibly call this good debt? Nope, I'm not running it out to other people or anything like that, because here, unlike income property, where a tenant pays it down, I do have to make these car payments myself. Well, in a word, the reason I did it this way is for the arbitrage. I got a fixed 3.99% interest rate for five years. Call it 4% Oh, I am almost certainly going to beat that by investing those dollars in real estate. So the 55k almost that I did not have to allocate to a car. Oh, well, that amount is enough for a down payment and closing costs on a cash flowing rental. That's probably going to pay me five ways with a total ROI that I expect to be multiples above the 4% interest rate, but the car's value depreciates. What about that debt on a depreciating asset? A car depreciates at the same rate whether it's bought all cash or all debt. It doesn't matter. Here is the better question, why tie up that much in a depreciating asset? 55k if I had paid all cash which I could have, I would have foregone returns and paid opportunity cost. Now, arbitraging car debt this way. That's not great debt. I don't put it in that category like real estate that pays for itself is and that is mostly because no tenant services. My personal car debt. For me, this car debt is just good debt, not great debt. Now how about some more guardrails? How can you keep yourself from going nuts and just trying to arbitrage everything. How would you know if you've gone too far? I mean, any person that's savvy with personal finance has to ask themselves a question, and that is always, what is the risk associated with this investment, or what is the risk associated with this debt, right? Because I already talked about the upsides of car debt this way. Well, the first risk is that I don't successfully arbitrage it. Rather than having the 55k sunk into the car, I have it invested elsewhere than say, it doesn't achieve a greater than 4% return. Well, the risk of that happening is small, maybe about a 10% chance. What's another big risk of leveraging car debt this way? Well, it's if you cannot make the monthly payment, which for me is about $1,050 a month, 1050 that's a comfortable payment. For me, if you can't make the payment that's called, you got yourself into an over leveraged condition. But for me, these risks are manageable. And this is applied thinking. This is clear eyed thinking, rational decision making, a level headed approach, a long term approach. It's common sense investing. Have a strategy and then invest your plan, not your emotions. Look paying off debt. That's often an emotional response, like when the debt is at a low interest rate and yes, understanding that debt is the American dream. Okay, this is still a pretty unconventional understanding, for sure, but it is pragmatism over emotions. When emotions go up, intelligence goes down. You can see that in a lot of places in your life. I can too. I think that a lot of the emotion happened to us when we were really young, perhaps age 12. And maybe you're saying, Oh, well, grandpa, he would not have arranged his finances this way. Grandpa wouldn't have leveraged all this real estate debt, and he sure wouldn't have thought that arbitraging car debt is savvy, but your grandpa was born before 1971 back when the dollar was still gold, backed if you're older now, your grandpa might have even been affected by living through the 1930s Great Depression. Our world does not work that way. Today, the dollar is no longer tethered to gold. It's just borrowed and lent into existence, and another Great Depression that's actually really unlikely. In the 1930s President Herbert Hoover refused to provide government support to prop up the economy, and sheesh today, any crisis is like immediately propped up by us printing a ton of dollars and then giving them out, just like covid stimulus checks and mortgage loan forbearance and all of that debt, debt, debt. Now I don't think that all of that is good, but you got to acknowledge that that's the world we live in today. If you're debt averse, because grandpa always said to stay out of debt, well then you know what you can take solace. Take comfort in the fact that today, ultimately, grandpa would have understood that the world changed, and he would want what is best for you.    Keith Weinhold  19:03   I'm get rich education. Host Keith Weinhold, this week, we're talking about why debt is the American dream on episode 600 with guidance that's practical, contrarian investor first and non emotional. Contrarian does not mean reckless. And by the way, just because something is mainstream, well, that doesn't necessarily make it bad, but in this case with debt, it often does. Here we're kind of back onto the old Mark Twain quote. Go out on a limb, that's where the fruit is. This is independent thinking for real world investors. It's where theory meets what actually works, and I'll discuss some specific actionable guidance for you before we're done today. But this is largely about ignoring the masses and following a clear incentive path. And what do the masses do? Now they kind of all gel together and get pumped up when they follow these debt free call in radio shows where the host advises the caller to always desperately retire debt at all costs. They'll even tell you work a second and a third job. You got to postpone vacations. They'll tell you to defer your life and go into lifestyle debt. Then in order to desperately stay out of financial debt, we're never going to get that time back. So just chill, take it easy with a lot of debt types inflation and sometimes tenants both passively pay it back for you. I mean, on these debt free call in radio shows, almost every time they give guidance, I kind of chuckle when I listen to this stuff. I sort of quietly ask myself, how would that path ever build wealth like when people are advised to retire 3% mortgage debt? Why dreadful sounding guidance like this happens is because it keeps irresponsible people from going over a cliff. That's all it serves to do. I mean, you're here listening to me because you're good with money, or you desire to be good with money and not give all your money away to creditors used intelligently. Debt isn't reckless. It's a tool, and it's one that lets you scale without trading every hour of your life for dollars. It seems to me that some of the groups of people that need to hear the debt is the American Dream message. They tend to be in a few groups. I need to be careful here, but I'm talking about groups like people with less financial education, engineers and women. It doesn't mean that people with less financial education are any less intelligent. And then when it comes to the engineering profession, you know that type of person tends to be unusually conservative, and I've worked for engineering firms in the past, so I wouldn't know this is somewhat of a paradox. Since engineers are the calculating types, you would think that they would have leverage and arbitrage figured out, and then women are a group that they tend to be more debt averse than most, and this is not a knock on women at all. In fact, women generally do a lot of things better than men do. I mean, I could go on and on there, like emotional intelligence and social awareness and relationship building and even multitasking and sticking to a plan, but I know couples where the husband does understand that it does not make a lick of financial sense to pay off the home, but he did it because the wife wants it so badly she deems that as security. But yeah, there was a time in my life where I thought that being millions of dollars in debt. Oh, that just sounded awful, like I thought that after graduating from college, but Oh, position well, with leverage in real estate, after a long time, you might get yourself where you're increasing your debt half a million bucks every year, but right alongside it, you're increasing your asset value 1 million bucks every year. Well, right there, since net worth is assets minus debt, you're increasing your net worth by a half million bucks a year because you have a big amount to leverage, because you've been a real estate investor for a long time. For example, debt made that American dream possible. But, yeah, the needling engineer type that's conventional and is like still the guy faithfully contributing to their 401 k which is locked up until their age, 59 and a half and keeps paying down debt. You know, they're the ones showing up to their engineering job in a pair of Dockers pants. I'm telling you, people that wear Dockers are not good debtors. I mean, do they still make stupid Dockers? I've got to look that up. Do those pants have pleats at the front or not? I don't even know.    Speaker 2  24:16   Levi's 100% cotton Dockers. If you're not wearing Dockers, you're just wearing pants.   Keith Weinhold  24:21   Oh jeez. And yeah, they still do make Dockers. I mean, the stereotypical needling engineer that dutifully contributes to a 401, K, he's got to have a complete dresser drawer full of stupid Dockers, no doubt.   Keith Weinhold  24:37   Hey, I can make a little fun of them, because I spent a lot of time in that world. I think it makes sense to contribute to a 401 K, by the way, but only up to the employer match amount. That way it's tax advantaged, and you're using other people's money one to one, but above that, oh, every dollar you lock inside a 401 k is $1 that can No. Longer leverage other people's money. That means no debt, no leverage, and a steep opportunity cost. Now to get a holistic picture here, we need to think through what are some reasons to pay down debt, or to pay off debt and completely retire it? Because there are some good reasons for doing that. I talked about credit cards earlier, student loan debt is also not good debt, because you must pay that debt, not somebody else, like a tenant, and now their interest rates are not as high as credit cards, but there's also no collateral with student loans. Maybe you could arbitrage it, like I did with my car, but student loan debt can't be discharged in bankruptcy. Like most other debt types, can you also want to pay off debt when an interest rate is working against you and not for you. Also, if you want to buy more property, but you need to lower your DTI in order to qualify with your mortgage loan underwriter that is lower your debt to income ratio before you take out another mortgage. Oh, well, that would be a reason, for example, to pay off a car loan. Another reason to pay off debt is if you're approaching retirement and you expect a decrease in your income, then you would want to revisit that here at GRE you might be structuring things to increase your income once you retire. That's its own discussion. They are some of the reasons to pay off debt. It makes sense sometimes, and with all those reasons, we've kept emotions out of it. But otherwise, yeah, bring on the good debt. Debt and loan are my two favorite four letter words the wealthiest people have the most debt. I've discussed that reality before on previous episodes, and I gave a lot of examples, like with Mark Zuckerberg and also with Jay Z and Beyonce, so I won't go into all that again. So therefore, let me discuss how, not only do the wealthiest people have the most debt, I mean, for example, I'm wealthier than I've ever been, and I simultaneously have the most debt that I've ever had. Not surprisingly, the wealthiest world nations have the most debt too. Let's look at it from the perspective of household debt as a percent of GDP. There are about 200 world nations, and sure enough, the US ranks pretty high 13th in this measure of household debt, the top 10 nations, counting them down from 10 to one is and look, they're all wealthy nations that have the most debt, Sweden, Denmark, Hong Kong, Norway, South Korea. Up to fifth is New Zealand. And then you've got the Netherlands at fourth, and then Canada, Australia, and number one is the nation that you probably think of as the most wealthy and stable in the entire world. It is Switzerland. They are number one in household debt per GDP, and then the poorest of the 200 world nations have the least debt and the highest interest rates and the least stable currencies. But see, the wealthy nations can borrow the most. These countries can borrow trillions because investors trust them. Their economies are productive and they can service the payments just like you see, say that I know you've got $5 million in debt. Just say that's true. All right. Well, now that's an interesting thing that I know about you, and now I can automatically deduce something else about you. I know that you must be pretty credit worthy for anyone to have even extended you that much credit. So a high debt level is a mark of creditworthiness. The richest people have the most debt and the richest nations have the most debt too. Debt is a contract with time. Here's the deeper idea, debt lets you pull future resources into today. It's financial time travel. But there is a catch. You need to deploy that capital into something that grows faster than the cost of borrowing. If you do that, you win. If you don't, then you just brought future problems into the present debt is time travel, and most people just waste the trip. That's why debt has a bad name. Debt Free surely is not the goal. But you know, even hitting a certain net worth or income mark is not an end goal. Their financial goal. But not the end. The end goal is genuinely living the best version of you. And in fact, let's listen to this together for a minute or two from the parallel truth. Are you really living? It's a little oversimplified, but this is quite a bit more substantive than civil engineers wearing Levi's 100% cotton Dockers. Don't be startled by the sound effects.   Speaker 3  30:23   If you really think working 50 years at a job you hate just to get a few years of so called Freedom makes sense, then I'm sorry to say, you have been brainwashed. This is not living. It's a trap. From the moment you're born, the system starts programming you. School doesn't teach you to think. It teaches you to obey, to sit still, follow orders and wait for permission. Then comes work, where your best years, your energy, your creativity, all get drained away to build someone else's dream. And they call that success. Retirement is the prize they dangle in front of you. Work hard now, they say, so one day you can finally rest. But by the time that day comes, your body's worn out, your fire's gone, and all those dreams you once had, they faded into routine. You traded your time for money and then your health to earn it back. And here's the cruel truth, that's not an accident. It's designed that way, a system built to keep you tired, broke and too distracted to notice what's really happening. They want you so busy surviving that you forget to actually live the scam is simple. They steal your youth when it's full of energy, passion and possibility, and then hand you back your freedom when you're too weak to use it. And the worst part, most people defend the very system that's enslaving them. They call it normal life. They laugh at anyone who questions it, because it's easier to believe the lie than to face the truth. But nothing about this is normal. It's just comfortable enough to stop you from revolting. They give you weekends, holidays and Netflix tiny doses of relief so you don't question the cage you live in. You were born to create, to explore, to build your own path, not to clock in and out until the day you die. The world doesn't need more workers. It needs more thinkers, more dreamers, more people brave enough to walk away from the illusion. So ask yourself, are you really living or just slowly dying inside a system that calls itself freedom?   Speaker 4  31:59   Yeah. Are you truly living or just existing with GRE plan, you can often retire in five to 10 years. So no debt isn't something to fear. It's something to understand. Because the difference between being stuck financially and moving forward faster than you thought possible, it often comes down to one thing, whether you avoid debt or you learn to use it, the American dream is not about being debt free. It's more about owning assets, leveraging wisely, and then letting time tenants and inflation do some of the heavy lifting for you, all of your life. Debt is the American dream, and I've got more on this for you today, coming up here on the show in future, GRE episodes, Rich Dad, Poor Dad. Author Robert Kiyosaki publicly states that he has $1.4 billion in debt, billion with a B, not because he's irresponsible, because he understands leverage and debt often entails a tax advantage with it too. Later this spring, Robert Kiyosaki returns to the show with me here. He's been one of our more recurrent guests over time. Next week, Redfin chief economist, Darrell fairweather, PhD, sits down with me here. Also a lot of other prominent guests lined up, like real estate influencer thatch Wynn will be here with me and lots of other great episodes coming up, including a lot of content that you wouldn't expect to hear that can make a real difference in your life. Be sure to follow or subscribe to the show and also tell a friend about the show today could very well be one of these paradigm shifting episodes that you want to share on social media. More straight ahead you're listening to debt is the American Dream On get rich education.    Keith Weinhold  33:50   Let me throw out a simple idea, sometimes doing nothing with your money is actually a decision. Leaving it parked might feel safe, but over time, purchasing power changes. So the conversation isn't about chasing returns. It's about intentionally placing money somewhere. Freedom, family investments works in real estate people use every day housing, senior communities, essential properties, things tied to living and not trends, their freedom notes. Offering is built for accredited investors looking for structured income backed by real assets, not speculation. I am an investor with them myself. The Freedom team makes themselves available to walk through their approach, structure and operating philosophy, so you can ask questions and determine alignment before moving forward, while past performance doesn't guarantee future results, their historical operating philosophy has yielded 100% investor payouts backed by over 20 years of experience. If you want clarity before making any moves, book a clarity call. At freedom familyinvestments.com or text family to 66 866, text the word family to 66 866.    Keith Weinhold  35:12   Flock homes helps you retire from real estate and landlording, whether it's one problem property or your whole portfolio through a 721 exchange, deferring your capital gains tax and depreciation recapture. It's a strategy long used by the ultra wealthy. Now Mom and Pop landlords can 721 the residential real estate request your initial valuation, see if your properties qualify@flockhomes.com slash, slash GRE, that's F, l, O, C, K, homes.com/gre   Tom Wheelwright  35:50   This is Rich Dad Advisor Tom wheelwright. Listen to get rich education with Keith Weinhold, and don't quit your Daydream.   Keith Weinhold  36:02   You welcome back to get rich Education. I'm your host, Keith Weinhold its debt is the American dream on episode 600 now, just before taking the mic, about 30 minutes ago, I ate some raspberries. I looked at the package to see where they were grown Mexico. Someone in Mexico supplied them. There was a supply chain. Those raspberries were planted in rows with trellising grown, and then they need to be hand picked. They're highly perishable, and they need to be shipped a long way fast, therefore, I just simply had the exorbitant privilege of buying those raspberries from a lit refrigerated store shelf with my dollars. Well, effectively, a bank lent me those dollars. Most of my debt is real estate debt, where time, tenants and inflation service my debt for me. I mean, what an amazing world. I'm just here to control those flows, those flows of money between Mexican raspberry growers, for my property managers that manage my tenants and for the banks that provide the loan. I mean, gosh, debt really is the American dream. It made raspberries appear. This is a contrarian way of thinking, but it's calculated. It's unconventional, but it's first principles thinking, rather than emotions from grandpa. You know something I've said it before that. Hey, I'm proud that throughout my life I have never ridden the government dole. Once. Never have I done that. I've never accepted a subsidy, no covid stimulus checks. I've never accepted an unemployment check in my life, even though I could have been eligible one time. I'm proud of that, because otherwise taxpayers would have had to work for me and pay for me. But in a way, since so many of my mortgage loans are subsidized, I am riding the government dole to get 30 year mortgage money at a 7% interest rate, that's also tax deductible, so therefore maybe I'm paying 5% I mean, that's a really good deal, and the government backing makes banks want to provide lucrative loans to us, just like the FHA program that I personally began with on a fourplex, and Just like these first 10 Fannie, Mae, Freddie Mac backed investor loans that you can get for one to four unit properties. So although it's indirect, it's really like a government handout that we're getting. And what can we do when we can do our part in giving back by doing good in the world and providing good housing, not being slumlords. That's the path that we're on here and the future, it's always going to feel uncertain. Always, I'm encouraging you. You've got to plant the tree, you've got to take the leap. You've got to choose to believe that there is something worth building toward optimism is not about ignoring what's broken in the world. It's about deciding anyway to keep on going, and you're probably doing a lot right, working hard, earning, well, a little saving, but more investing. There's a problem that very few people talk about, labor income is taxed heavily, asset income is treated better, and then 401, K income, well, that doesn't even start arriving until you're about 60 or 70. And really, this is why a lot of high performing. Professionals eventually hit a wall. They make more money, but they don't feel much freer. The people who break out usually do one thing differently. They stop relying on one income source, and they start building income producing assets, and that's where I come in, you already know how to do things like budget and save. We all learned that quite a long time ago, and we've all heard the usual advice about maxing out your 41k waiting for years and just sort of hoping, and that might build a nest egg like that usually does turn into something, and it's better than nothing. It usually won't build outsized returns or freedom, though, and surely not while you're young enough to fully enjoy it. So get rich education is about a different path, building durable wealth through income, property, financial education and smarter leverage, certainly not day trading, certainly not get rich quick, just a proven framework for escaping overdependence on a paycheck, a generationally proven vehicle here and here you get the mindset and tactics to make generationally proven real estate a life changing investment because most people are Climbing the wrong mountain. A lot of smart professionals spend 30 years trying to save their way to freedom, but wealth usually grows faster when you own assets that produce income appreciate over time, offer tax advantages and can be financed with long term debt. That's how you get a lot of them. That is the difference between working hard and building leverage. So you can't out earn a broken wealth strategy.    Keith Weinhold  41:47   Most people earn income, but few people own income. You own the source of the income when you have rental property. A lot of smart professionals really learn that too late, Your salary alone doesn't even have the ability to make you wealthy, since wealth is freedom. So we use an abundance mentality to invest in assets that are scarce. Most people use a scarcity mentality, leading with loss aversion, to invest in something that's abundant and plentiful. So there is always opportunity out there in a market as big and as broad as the US residential real estate market. Where is that opportunity today? Well, I'll tell you that list prices rose 2% year over year to a median of 423k that's in the four week period that just ended according to Redfin. But notice I said that was the list price buyers haggled them down to about 389k that's really significant. It's really proof that sellers are willing to bend in today's markets. So therefore in most markets, I'm encouraging you to make an offer that's below the list price, as we know, available for sale property that is still scarce in a lot of the Northeast and Midwest, and supply is abundant in Texas and Florida. But here's the thing, although Florida inventory is higher now than it was pre pandemic over that six or seven year stretch, here's the new trend, and it's worthwhile to identify inflection points like this on a year over year basis. So looking at only the past one year, Florida inventory is now down 4% it's no longer going up. So it's possible that we've reached the peak of this new Florida supply. We could have hit the turning point now, and yet, builders are still buying down your mortgage rate to about 4% giving you that long term fixed rate on new builds. So I'm telling you, that's where the opportunity is now. As far as the rent side, nationally, I don't see rents going up significantly anytime soon, and that's for most everything, single family rentals all the way up to huge apartment buildings. Rent increases in the single family to fourplex space, they showed some real promise last spring, a year ago, but as we got into summer, they didn't really materialize. Now, although you get rent increases historically, it's never wise to buy and just assume that that is automatic. But I want to underscore the fact that you really should not count on a rent increase over the next year. So that's new builds.    Keith Weinhold  44:53   The other area ripe for opportunity. Here is burrs, buy, renovate, rent. Finance and repeat properties and among GRE listeners, burrs have been our most popular investment over the past two years. Yeah, Memphis, Little Rock, Birmingham and Kansas City, they are our hottest and most reliable burr markets, and we've really improved our burr operations since first helping you with those found the secret sauce, as far as helping you get the right provider that doesn't leave you hanging on the renovation, burrs are also good for you if you have fewer investment resources than what new build properties require. GRE coaching calls and our coaching program are completely free to help you with this now. Of course, our investment coaches listen to all the GRE episodes like you. They're aligned, and we have family guys that work here, like our investment coach Naresh. He has a wife and kids, and he's just the type of person that you want to see succeed in life and that you would enjoy working with over time. And we are all investors ourselves here, every one of us, so it doesn't hurt to set up a 30 minute consultation call to see if our GRE coaching program is right for you, some good, abundantly minded council for free. Our investment coaches have access to the best deals in real time. That alone is worth a connection. We're in constant communication with the top national providers in the best markets. So there might be an incentive today, like, say, a builder rate by down to 4% that didn't exist just two days ago or yesterday. So this is why investors are succeeding. They're also succeeding thanks to our recent Florida online live event. Connect with us to watch the replay and get in on these deals yourself. In fact, we have never seen so many incentives and price reductions in GRE history as we are right now. And see, here's the thing, when it comes to you making an offer below the list price, because our coaches work with other GRE listeners, they're going to know how low that seller is really going to go for you on that price. So that negotiation is some key information that you can learn. We have access to more than 200 deals nationwide, so contact our real estate investment coaches to get access and these burr properties can give you a super high ROI, because sometimes you can end up with as little as 10k or 20k of equity invested in an income producing single family rental. That's probably going to be 20k or more. And then with some of these developers that overbuilt in places like Florida, make that offer use good debt and take advantage of that interest rate in the fours. Buy low. And the reason that these new build deals provide positive income is because you buy at a lower purchase price overall, and you get a fixed rate in the fours, and you get a low property insurance rate, since they are new build properties, you don't need urgency right now so much as you need clarity, because there are opportunities, real ones, whether it's burrs in the Midwest or builder incentives in places like Florida, where you can Get those 4% rates. But the challenge isn't finding opportunity, it's knowing which one is right for you, and that's exactly what we help you do. And since our coaches are active investors themselves, they follow the same markets and the same providers and the same strategies that we talk about here on the show. So instead of guessing or going back and forth in emails, just get clear book, a quick call. It's free, it's 30 minutes, and it could save you months or years of going in the wrong direction. You can do that@greinvestmentcoach.com that's greinvestmentcoach.com the best thing you can do next is get aligned with the right opportunity. I'll chat with you in a week. I'm Keith Weinhold. Don't quit your Daydream.   Speaker 3  49:35   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 the.   Speaker 4  50:03   The preceding program was brought to you by your home for wealth, building, get richeducation.com