Podcasts about Senior living

Register here to attend the live virtual event "How to Scale Your Portfolio, with Tenanted Cash Flowing, New Construction Properties" on Thursday, November 13th at 8pm Eastern. Keith introduces a profound life perspective: humans are typically allotted only 30,000 days. What will you do with the days you have left? Every moment not spent building wealth is a moment lost forever. Adam Schroeder, a real estate investment strategist, joins the conversation to talk about current opportunities with new build properties with significant builder incentives and the potential for high appreciation. Resources: Switch to listening to the podcast on the Apple Podcasts or Spotify app, as the dedicated GRE mobile app will be discontinued at the end of the month. Show Notes: GetRichEducation.com/578 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  1-937-795-8989 to speak with a freedom coach Will you please leave a review for the show? I'd be grateful. Search "how to leave an Apple Podcasts review"  For advertising inquiries, visit: GetRichEducation.com/ad Best Financial Education: GetRichEducation.com Get our wealth-building newsletter free— text 'GRE' to 66866 Our YouTube Channel: www.youtube.com/c/GetRichEducation Follow us on Instagram: @getricheducation Complete episode transcript: Keith Weinhold  0:01   Keith, welcome to GRE. I'm your host. Keith Weinhold, the real estate market is slow when this happens in a cycle. What does it mean to a real estate investor? What type of return can you really expect today? I'll tell you exactly, and you'll be surprised. Learn more about new build properties and why investors often prefer DSCR loans over conventional loans today on get rich education,   Keith Weinhold  0:28   since 2014 the powerful get rich education podcast has created more passive income for people than nearly any other show in the world. This show teaches you how to earn strong returns from passive real estate investing in the best markets without losing your time being a flipper or landlord. Show Host Keith Weinhold writes for both Forbes and Rich Dad advisors and delivers a new show every week since 2014 there's been millions of listener downloads 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   Corey Coates  1:13   You're listening to the show that has created more financial freedom than nearly any show in the world. This is get rich education.   Keith Weinhold  1:29   Welcome to GRE I'm your host. Keith Weinhold, yes, America's favorite shaved mammal on a microphone is back with you for another wealth building week. Just the talking primate that's heavily mortgaged here. I'm also a landlord still waiting for a security deposit from back in 2018   Keith Weinhold  1:51   Hmm, oh, I'm so into self deprecation today that I forgot about the place names hitting you, from Dover, Delaware to   Keith Weinhold  2:01   Andover, Massachusetts and across 188 nations worldwide, you're listening to get rich education. There's a realization that can sharpen your investor focus when you think about the fact that, in a sense, how little time you are allotted in your life. It's something that I've thought about more. You're only given about 30,000 days. That's the typical lifespan of a human being, and that goes for both shaved mammals and others. Well, you've already spent 1000s of your 30,000. The question is, what are you doing with the rest? At some point, people understand or they better that they need to go out on a limb. There are people less qualified than you living the life you want to live simply because they chose to believe in themselves, and really, that's the moment everything shifts. belief. It's not a feeling. It is a decision backed by action. Too many people learn this lesson the hard way. They discover, often too late, that relying on one income stream is the most dangerous financial plan of all. A job can vanish. Federal Workers found that out amidst a government shutdown, a business model can change. AI can intrude. A paycheck can stop. But when you own assets that pay you month after month, no matter what you're doing, you slowly begin to untether yourself and move toward freedom. And here's the truth about pain and money. Poor and middle class households work for money, so to them, that's why every dollar spent feels like a little loss. It can even hurt, and that is why they hesitate even on opportunities that could change everything. The wealthy, on the other hand, own assets that pay them, so therefore every dollar spent feels like a seed, because it grows when you own enough income property, you can move away from constantly asking yourself, can I afford this? And start asking, What will this investment earn me? Over time, this mindset shift changes everything at that time when other people's money starts working for you, not the other way around.    Keith Weinhold  4:45   And here's the thought experiment I use, take the hourglass of your life and flip it, watch the sand fall. That's time, 30,000 hours, 30,000 grains. That is. Is time the one resource that you cannot get more of. So every day you delay prudently investing the sand does not pause. It just keeps flowing. But you can choose how that time compounds the sand that's left over and hasn't fallen through the neck of the hourglass. Yet that is your opportunity to build multiple income streams from real estate, from ownership and from leverage, it is your chance to replace anxiety with well autonomy. Every family with generational wealth can trace it back to one person, one risk taker who decided to stop trading hours for dollars. They believed in ownership and control. They believed in themselves. They acted before the sand ran out. If you've already started real estate investing, well, then you've already begun to break that cycle. If you've done it for a time, you're going to have more time, more income and more options than you had before. That is worth celebrating and scaling, because the best time to start was yesterday, and the next best time is before the next grain of sand hits the bottom.    Keith Weinhold  6:22   Later today, I'll talk about taking this sentiment and moving it towards something very specific and actionable. Now, in this era, the real estate market is slow. That is in terms of transaction volume, there just aren't as many sales. Sometimes this whole thing feels more sluggish than Jabba the Hutt after Thanksgiving dinner.   Keith Weinhold  6:49   5 million is a typical number of existing homes sold every year in the US. 5 million. That's normal. That's baseline during the pandemic frenzy. It reached over 6 million, and now it's about 4 million. That's why I say that housing transaction volume has slowed, and appreciation is only about 2% that's below historic norms, and rent growth is like barely doing push ups. It's two to 3% in single family homes volume now it has picked up a little here lately with lower mortgage rates, and so have home prices. Redfin now tells us that home price appreciation is 3% but most outlets say 2% some analysts that are more optimistic than me call today's housing market healthy. They don't call it slow. And why is that? Well, it's the healthiest it's been since covid, because now you have a good balance of buyers and sellers. The real estate market isn't so miserably deprived of inventory like it was back in 2022 in 2023 but I am going to go with slow now, as you know, I coined the phrase real estate pays five ways back in 2015   Keith Weinhold  8:09   But how exactly does that hold up in today's slow transaction market? Could an income property buyer's return even be disappointing now? Well, let's do it. Let's determine what you can expect if you purchase an investment property here in these slow market conditions, we'll determine your total rate of return in year one. And you know, this will be sort of like dating someone that's not the first date, but to really get to know them, to know if they're potential spouse material. You want to see them at their worst and be sure that they look good on their bad days. So let's just be conservative and use 2% home price appreciation. Say that you buy a 200k single family rental. Now a 20% down payment means 40k down. Sellers are willing to give you concessions now, say that they're going to pay your closing costs, because the 200k that you're paying is their full asking price, so it's your terms and their price. Well, say that you don't get any cash flow. The rent only covers the expenses exactly. Okay, so we're really painting on a not so pretty picture. Here, it would seem. Here we go, in a slow market, the first of five ways you're paid is that erstwhile appreciation. Your property only appreciates 2% from 200k up to 204k not so exciting, until, of course, as we know around here, you realize that your return is your gain on your skin in the game, your 4k gain divided by your 40k down payment gives you a 10% ROI. There it is leverage. Didn't just show up. It brought donuts. 10% just from the first of five ways you're paid. The second way is cash flow. Say that rent minus your 160k mortgage payment here and your operating expenses, that merely breaks even, like I was saying. So 0% additional return from cash flow. And before we add on numbers three, four and five to get your total rate of return in a slow market, let's take a moment to check on Jabba. How's Jabba doing? No, Jabba still hasn't gotten up from that heavy Thanksgiving dinner. It's still a slow market. We've confirmed that we're going to continue   Keith Weinhold  10:41   the third way you're paid, as any GRE listener knows by now, is with that ROA return on amortization, also known as principal pay down with a 7% mortgage rate in your 160k loan on this property, an amortization table shows you 1625 bucks a tenant made principal pay down. Divide that by your 40k down again, that is another 4% return. All right, so you add that to your 10% from leverage depreciation, and you've now got 14%   Keith Weinhold  11:17   next is your tax benefit. It's a 150k structure value, not the full 200k because raw land can't be depreciated. Multiply that by 3.6% depreciation, that means you've tax sheltered 5400 bucks. That is like a phantom loss that you get to show the IRS. Just a little more math here, and this is as far as you have to stretch it, in visualizing numbers in an audio format at a 24% income tax rate. That is 1296 saved on 40k down again, another 3% for you, and your running total is a 17% ROI before we get to the last one, which is inflation profiting, not inflation hedging, which almost everyone mistakenly says in real estate investing, it is inflation profiting.    Keith Weinhold  12:13   Your 160k loan gets eaten by 4800 bucks at a 3% inflation rate, divided by 40k down. And you know, inflation is usually the villain. Now it is the hero. You've got another 12% from inflation profiting. And here's the sum in this slow market, your total year one rate of return is 29%   Keith Weinhold  12:43   and you're like, my gosh, did that really just happen? Now you might want to skip back on some parts of that to help make it crystallize in your mind. I've got to tell you before I ran these numbers in this slow market with this 2% appreciation and even assuming zero cash flow, I thought your total rate of return would be in the low 20s, not this high, not 29%   Keith Weinhold  13:09   the numbers don't lie. They just don't get enough attention on CNBC.   Keith Weinhold  13:16   Now I did use shorthand and simplify. You would also have to adjust your 29% for inflation, just like you do for any investment. So then about a 26% inflation adjusted return for you. Wow. And if you want to know more about what I just used shorthand on, you can always watch the five videos on the five ways real estate pays for free at getricheducation.com/course that's get richeducation.com/course, the most valuable video course you'll ever see on real estate investing, but a huge investor lesson here, an epiphany today, is that it does not take a high growth market to build wealth. Even when it seems like real estate's half asleep, it can still work five jobs for you, we could be near the nadir of the cycle here.    Keith Weinhold  14:16   Appreciation has picked up in recent months, with mortgage rates being lower than they've been in a while, but even when appreciation and rent growth slows now, you can see that the ROA tax benefit and inflation profiting just keep working overtime. The bottom line here is that income property still pays a lofty 29% if you buy today, even in a slow market, and this is at a time when investors, a lot of them, don't know what to do with their money, since every market type seems to be near an all time high, and people don't want to buy in at those high levels, and savings accounts pay you less than a gumball machine, owning investment property proves its resilience. I mean, this is why we do this. It's kind of like stocks can party with a surge in an upcycle, and then they can bust and boom and bust and boom. But all the while, instead of partying, real estate just keeps its head down and works the night shift for you, your wealth quietly compounds in the background while the rest of the world panics or debates interest rates on LinkedIn or something.    Keith Weinhold  15:33   All right. Well, with that in mind, where can we take advantage of that real estate return and expect to do even better with it, even if the market did stay slow. Well, builders have unsold inventory in places like Texas and Florida, like I mentioned before, and to a lesser extent, in parts of the West as well, but the prices are too high out in the west for a cash flow investor. So today, you can buy at a discount in a way that you absolutely could not during the height of the pandemic.    Keith Weinhold  16:06   A guest and I are going to talk about a specific opportunity in today's market, and then how you can exploit it. The National Association of Homebuilders has even noticed that home flippers have switched gears, and increasingly, what flippers are doing is instead buying new build properties and then renting them out, because new builds have lower upkeep costs come with a lower mortgage rate because the builder is buying it down for you, they have lower insurance and they attract a better quality tenant that stays longer, even if the HVAC did break. That's okay, because new build homes often come with a warranty. The smart money knows that new build is where the opportunity is today. That's something that I've discussed for a while here, but today we're getting more actionable. CNBC let us know that the CJ Petra company reports that investors now make up the highest share of Homebuilders in five years. And you'll recall that we've had CJ Patrick, company founder, Rick sharga, on the show a lot with me here the past few years. Some say that the smart money is waking up again. I don't know investor activity is steady, but it's not really that much. It only seems like a lot because the wannabe owner, occupant, buyer has been priced out. So it's better to say that investor activity has been steady. Investors bought fully 1/3 of single family homes this past summer, and that is up from 27% in q1 I'll discuss that more soon.    Keith Weinhold  17:44   Hey, you know one thing that makes GRE different is that our show sponsors are here to supplement and benefit your specific investor activity. And another thing is that I use them myself. Thank God we are not here to tell you about pneumococcal pneumonia or your moderate to severe plaque, psoriasis. I don't even know what that stuff means. Freedom, family investments and Ridge lending group. I very know what they're about. I'm a satisfied client with each of them myself. So listen in.    Keith Weinhold  18:21   You know, most people think they're playing it safe with their liquid money, but they're actually losing savings accounts and bonds don't keep up when true inflation eats six or 7% of your wealth. Every single year, I invest my liquidity with FFI freedom family investments in their flagship program. Why fixed 10 to 12% returns have been predictable and paid quarterly. There's real world security backed by needs based real estate like affordable housing, Senior Living and health care. Ask about the freedom flagship program when you speak to a freedom coach there, and that's just one part of their family of products, they've got workshops, webinars and seminars designed to educate you before you invest. Start with as little as 25k and finally, get your money working as hard as you do. Get started at Freedom, family investments.com/gre, or send a text. Now it's 1937795898, 377958989, yep, text their freedom coach directly. Again, 1-937-795-8989,   Keith Weinhold  19:32   the same place where I get my own mortgage loans is where you can get yours. Ridge lending group NMLS, 42056, they provided our listeners with more loans than anyone because they specialize in income properties. They help you build a long term plan for growing your real estate empire with leverage. Start your prequel and even chat with President Caeli Ridge personally while it's on your mind, start at Ridgelendinggroup.Com, that's Ridge lending group.com   Kathy Fettke  20:05   this is the real wealth network's Kathy betke, and you are listening to the always valuable get rich education with Keith Weinhold.   Keith Weinhold  20:14   I'd like to welcome in a new guest to the show. He is a real estate investment strategist that's been working in the media industry since 2001 and throughout the career, he's held the title of a local news reporter, podcast host and producer for nationally syndicated companies like NPR. He's been in real estate nearly 20 years. Adam Schroeder, welcome to the show.    Adam Schroeder  20:48   Thanks for having me on. I really appreciate it.    Keith Weinhold  20:50   Yeah, I'm looking for your read on today's real estate market, just the general landscape overall, because Adam, I've shared that national transaction volume is down about 25% appreciation is still there, although it's been slow. Rents are just steady. We do, however, still have this supply that is down among entry level homes, something a lot of media articles broad brushstroke and don't understand, and really it's still a valid question to ask, even today. Is there any better risk adjusted return than income property that's bought, right? So what are your thoughts on the overall real estate investing landscape?   Adam Schroeder  21:30    Yeah, overall real estate investing, it's kind of like what you said, entry level housing. I remember I saw a heat map. This was probably five or six this was pre covid. It was maybe even seven or eight years ago. It was a heat map that showed, like, new construction, home pricing, and, you know, there was like 500,000 and up. Was just this massive chunk. And then there was all these ones, ones that were under about 300,000 it was around, like six or 8% or something like that. It was really, really small. If you look around, it hasn't gotten bigger. And so the question of inventory and availability and pricing, they're never going to talk about it on the national media, because there is no entry level home in Chicago, in New York, in LA, you're not going to find that. I mean, you're paying 200 grand for a doghouse in the backyard, if you're there. And so we are finding the entry level housing, but I think right now, an oversupply of inventory in some of these markets is a very good opportunity for people. If you're buying for with the right fundamentals, if you're buying in an area that's growing and has good long term, you know, 8,10, 15 year diagnostics. Then if you're buying now with builder incentives and all of that, yeah, your year one, year two, year three. Appreciation may not be the greatest because of that oversupply, but if you look at what's happening now with construction starts in a lot of places, builders have gotten scared off. They're not really starting them now. So if you're buying new now, in 2,3,4, years, all of the inventory will be sucked up, and there won't be new homes coming to the market. So you're going to be one of those people who has one of the newest homes in the area, more people are going to want to be getting in. And so your appreciation and rent growth is much more likely to be growing. So that's one of the things I love to look at, is I look at what new home starts, what happened in the past, what was oversupplied, but now, who's what cities aren't building. And if I know what cities aren't building, then I can compare it to, okay, well, you know, there are some cities in California that aren't building anything I'm not going to buy in California, but there are some cities in Minnesota, in Oklahoma, you know, in Texas, where they're not building anymore. And if it's landlord friendly and can cash flow and all of that, Sign me up. I'm bullish on parts of this, of the United States real estate market, not the whole United States real estate market.    Keith Weinhold  23:55   It's been pretty well documented that parts of the nation are overbuilt. However, especially in Florida and Texas. And I brought up the point months ago Adam that if you buy, say, a new build income property in temporarily overbuilt pockets today, five years from now, looking back five years onto today, you could be like, Yeah, I bought five years ago, when some areas were actually overbuilt, and I snagged a deal, and the builder was even giving me incentives like my rate at that time, because, you know, long term, the demand is going to be there and that the absorption is going to be there. So it's about knowing what's happening and then identifying the right time in that cycle. In today's environment, some feel that DSCR loans are a better option for investors, and what that means a debt service coverage ratio loan is that you qualify for the loan not with your personal income, but instead with the property's income. Do you see more investors employing dscrs?    Adam Schroeder  24:55   We see a ton for a really good reason. That is simply put, especially if you're utilizing these builder incentives, buy down rates on DSCR frequently outperform ones with conventional like some of the lenders we're working with. I look and let's say you're putting 4% I looked at it this morning with an investor with 4% of purchase price towards your loan on a DSCR loan, you're down to 5.49% on a DSCR, but conventional, you're at 5.75 that doesn't happen for the most part. It's just something that right now, the risk profile of investors is allowing the rates to be either at or better than conventional many times. Plus, people love to put their properties in LLCs for protection, and they'll worry with conventional, oh, what if a due on sale clause gets triggered, even though it's really hard to trigger that, if you worry about it, well, why not just get a loan that's equal or better than a conventional that doesn't go on your you know, debt to income and can go straight into the LLC to begin with, and then your hands are clean the whole way through, and you're not having to worry about transferring titling. Honestly, my wife is about to murder me because I have some properties that were meant to go into an LLC two years ago that are not currently in an LLC.   Keith Weinhold  26:17   Well, hopefully you'll live until the end of this interview. Tell us more about DSCR loans, and maybe some that, no you talked about the upside, maybe some red flags and some things to look out for, times when we would not want to employ that loan type.    Adam Schroeder  26:30   A lot of it with the DSCR you're looking at like you said, they're not evaluating you necessarily. Now you do have to show reserves. You do have to show that the property will perform on its own. But sometimes full doc loans with conventional can be the way to go, because, like I said, in the past, it used to be that DSCR loans were three quarters of a percent, or a full percent higher than the DSCR. Or, yeah, DSCR was higher than the conventional. And so if you could get a four and a half with a conventional versus a five and a half on a DSCR. It's well worth the extra paperwork that might come with doing it to save yourself that money and really build up your cash flow. We are just in a very awkward time of investing, where the investors for DSCR loans, the people who are buying those mortgages, are not the same people who are buying the Fannie Mae Freddie Mac secondary loan market, and so they just have different risk profiles, which allows the rates to be different. So that's really the big thing. Is, if you've still got your Fannie Freddie slots, it's worth talking to your lender and saying, what would it look like if I did this loan? What would it look like if I did that loan? Where am I? But when it's all said and done, if you're really close or equal, I would almost always skew towards the DSCR to protect myself, go straight into an entity and keep it off of my debt to income ratio, plus on dscrs. You also have the option, and we don't recommend this for every property or even for certain people, depending on risk profile, but you have the option to do an interest only loan with 20 or 25% down, which allows you to do kind of what we call cash flow management, where people get worried about interest only loans and say, Well, I'm not building equity. I'm not doing this, not doing that. Well, you're not, but you're also, you can still put principle towards your loan every month, right? Like a principal loan, maybe you're throwing 200 bucks a month, a principal towards that. Well, with an interest only loan, you can still put that $200 in. But what it means is, if there's a month where maybe you have some repairs that need to be done, or something like that, don't pay the principal and on the interest only, you're still okay on a principal and interest. If you can't pay that, if you just pay all the interest, they're still going to say, well, Keith, you're late on your loan, right? And so it gives you a little bit more flexibility, but it's not for everyone. It's not for every property, so definitely talk with lenders about that. But conventional loans don't offer that. DSCR loans can.    Keith Weinhold  28:53   There's always opportunity in every real estate market. It's just identifying what those are and then ethically exploiting the opportunity. So we're talking about buying in areas that are temporarily overbuilt utilizing DSCR loans. And another advantage in this market, which is an aberration, is the fact that new build properties, like few times in history, if any, actually cost less than renovated existing properties.    Adam Schroeder  29:20   Yeah. I mean, when you can get into, you know, an A class neighborhood with 80% owner occupied, 90% owner occupied, and you're getting in for way less than the median cost of a home in the US. You mean, you're getting in for, I mean, we've got new builds in the 220 range on some of them up to 400 you know, which is still below the median cost. Yeah, that's really good. If you're looking to get into any a class neighborhood, or even B plus neighborhood, finding a property that's 200 $250,000 in those areas is tough. It's just tough. And so especially because as pricing went up for everything with inflation, you know you can't do. Do a cheap rehab anymore. If you're going to do a good rehab, you can't do a cheap rehab. I talk to our teams all the time and tell me, Hey, I did, you know, I only spent $70,000 to renovate this property and like that is a lot of money. I know you're getting it out whenever you do the burn, you know, or sell to an investor, but still a lot of money to put in to get there.    Keith Weinhold  30:20   Well, then let's talk about identifying possible growth markets for long term investing success. New build properties tend to appreciate better than rehab properties. And you know what's funny, Adam, I was just sharing this with my audience on a recent episode. I largely disagree with this long time investing axiom in real estate that says appreciation is just icing on the cake. I think I know what they're saying that doesn't help you out on a month by month basis, but we're in real estate investing for the long term and long term, more of your returns typically come from leveraged appreciation than they do on the cash on cash return from cash flow. So to me, appreciation is not just icing on the cake. In a lot of cases, it is the cake. And really, that's something that new build can offer more of.    Adam Schroeder  31:09   Yeah, I mean, it's almost in, especially in today's market, it's almost like cash flow is the icing on the cake. You know, you can get a property that, you know, is in that really good area, like we're talking about, and is, maybe it's appreciated a little bit now, but it's very likely to appreciate a lot later. If you're only making, if you factor everything in maintenance, vacancy, all of that, and you're making $100 a month, that's solid, you know, if you look at it, and if you're in those areas, if you appreciate 5% on a $300,000 property, let me tell you this, you're not going to make $15,000 in cash flow that year on that property. So if you look at the people who are really retiring on cash flow, are usually the people who have 100 200 300 doors or something like that, and they play the law of large numbers. I don't want to play the law of large numbers personally, I want to have really good quality assets and have fewer of them, and really work on having positive cash flow, but having the equity growth that allows me to pull money out tax free and either buy more investments or utilize how I want in my life.    Keith Weinhold  32:16   Exactly. If your property cash flow is $100 a month and it's a single family home. Some people say, Oh, that's awful. You would need 100 of them just to get 10k pass it per month. Now you're thinking wrong, and you're oversimplifying it like to your point, with the 300k home and 5% appreciation, that's 15k in one year, you're building equity that can be borrowed against, tax free, and you're building up that lump sum cash flow windfall down the road, if you will, in real estate pays five ways and cash flow matters, but it's only one of five profit centers and all that. So yes, we're so aligned on that one, appreciation is not just the icing on the cake, it's substantially more than that. Well, I've got something to announce. Adam here is going to co host, along with our own longtime investment coach, Naresh, an upcoming live virtual event. And it's called how to scale your portfolio with tenanted cash flowing new construction properties. And it aligns in every way with the trends that we've been talking about and that Adam and I have been identifying here. The event takes place next week. But first, tell us more about what you and the ray shall be speaking about at the event there. Adam.   Adam Schroeder  33:29    one of the biggest concerns people have about real estate, and one of the things that can eat in your cash flow more than anything, is vacancy. I mean, vacancy can kill your deal whenever it's all said and done, because it's one thing, if you're, you know, break even or $100 a month positive cash flow. But whenever you've got a vacant property and you're negative $1,500 a month, that can hurt, that can hit the wallet. And so what we really love, if you can hit it, is a tenanted property that's new and is in a growing area, yeah, and we've got that thankfully. I mean, we've been able to work some really good relationships with national builders that have allowed us to get into they were doing a lease to purchase option with tenants who wanted to buy their property but didn't have it saved up, and these people didn't exercise their option, but they've renewed their lease so you can come in and buy a property that has them in place. It is a house that they wanted to buy. So how long are they likely to stay? Probably quite a while. They like the school district, they like the neighborhood. They like everything about it. You're coming in, you've got the builder incentives we talked about before, and you're just in a positive cash flow position already. Now we're in Texas, which I was actually funny enough. Earlier, right before this interview, I was reading about the states that are going to grow the most, projected until 2050 and they expect Texas to grow by nearly 9 million people between now and believe it was 2050    Keith Weinhold  34:55   everyone's asking, when is it going to pass? California is the most populous state in the nation.    Adam Schroeder  35:01   Well, it depends how many people. In California are part of that 9 billion we've gotten quite a few of them there. As somebody who lives in Texas, and we're in the big cities too. We're not in the Podunk Texas towns you think about in, you know, east or west Texas. We're talking Houston, Dallas and San Antonio, which are three of the top, I believe, 15 largest cities in the country. We're getting some really good incentives. You can get up to right now, 10% builder incentive. So a $300,000 house, you have $30,000 that you can use. That's massive. Yeah, you can get that money back after closing. We can buy your rate down. And we have some people who have literally taken the whole 10% and put it towards a fixed 30 rate at four and a quarter percent. Wow, they are locking themselves in at four and a quarter. Or we have some people who say, like, we were just talking about cash flow is not a concern for me. I'm going to take half my down payment back, and I'm going to go buy another property, because I'm only in this property for 10% now, and so they're able to be, you know, roughly break even in a good growing area, and they can acquire a second property. So you're buying two properties without mortgage insurance for essentially a 30% total down payment, and you're getting your 10% back if you buy the second property. So it's just really incredible time. Like you said, we haven't seen a time like this before. We were able to get into the wholesale division of these builders and provide these incentives that I've personally never seen before. Some of our reps are buying these homes themselves, so we're putting our money where our mouth is. It's just a great time, especially like you were saying, these homes the inventory, take advantage of the opportunity, right? And there's an opportunity that's presenting itself. And if you look at the long term demographics of Houston, Dallas and San Antonio. It's an arrow pointed up. That's what those areas are.    Keith Weinhold  36:46   100% I mean, it's almost as predictable as anything. There's never a guarantee, but continued population growth and obvious need for housing there is about as close as you can get. That's massive. 10% back, 380k purchase, $38,000 back at the closing table to use in discount point buy downs completely or half on discount point buy downs and half to pocket and use on another property or use on your next vacation or whatever you want to do. That's massive.    Adam Schroeder  37:18   Yeah, it's fantastic. One thing I forgot to mention about Houston. It's one of the things I love that people don't think about has the third most headquarters of fortune 500 companies in the country, behind New York and Chicago. So people don't think about that when they think of Houston. But I love to throw that out there, because it's there. I love Houston. I lived there for seven years. It's where I met Naresh, actually, and would happily move back there again   Keith Weinhold  37:42   right? Houston has moved so far past the monolith of just having oil be the economic driver. So we're talking about tenanted new construction properties in pretty hot markets, Houston, San Antonio and Dallas ready for you to purchase with that 10% builder incentive. And these are in communities that are primarily owner occupied, so they do have that high appreciation potential and that potential for solid rent growth. So on the live event, the webinar that you are invited to attend from the comfort of your own home, what you can do is just learn more about this overall strategy and why the time in the market is right for this. Learn more about those geographic markets themselves and then their drivers, and even see available new build income property. And the benefit of you attending a live is that you can have any of your questions answered right then and there. You can sign up at grewebinars.com, and Adam, before I ask you if you have any last thoughts, that event is next week. It is Thursday, November 13, at 8pm eastern time again, you can sign up. It is free. Space is limited, so that's something that you want to do now at grewebinars.com, any last thoughts? Adam   Adam Schroeder  38:51   yeah, I will just remind people there's always a reason to buy real estate, and there's always there's always a reason not to buy real estate, and depending on which one you subscribe to, you can always find those opportunities, or you can scare yourself off. So, you know, find the right opportunities that are there for you and your investing style and jump in. Because if you look at what's happening right now. When rates start coming down, owner ox are going to jump back in, and that tends to lead to prices going back up. Like Keith said, these are 85% owner occupied areas, and you're setting yourself up for success. And if you do it now, you can always refi later if rates come plummeting down right so find the right areas. Find the reasons to buy and go for it.    Keith Weinhold  39:41   This is a time when builders are really willing to give you a break. Take advantage of it if you possibly can. Adam, it's been great having you here on the show, and our audience looks forward to seeing more of you next week.   Keith Weinhold  40:00   Yeah, some real potential here. I'm rather excited for your future as a listener next week, investors like DSCR loans, since the qualification looks at the property, not you, and see conventional loans are more for owner occupants. They're fine. They work for investors too. But with dscrs, besides their other advantages, they're a check on making sure your property is profitable. It is just your rent divided by your debt service. That's all it is. So for example, with a $1,000 rent and a piti payment, principal, interest, taxes and insurance payment of 800 bucks. Well, then your DSCR is 1.25 Investors love them because there's no personal income verification, no W twos, tax returns, pay stubs. There's no debt to income ratio bar for you to have to clear also conventional loans often cap you at 10 financed properties, and DSCR loans have no such limit, so there's faster underwriting and easier approval. But with dscrs, look out. I mean, there could be some higher fees, and you might have a three to five year prepayment penalty. But buy and hold investors often keep the property that long anyway, so grow your income streams with dscrs, even when the w2 world says no. And notably, dscrs have absolutely nothing to do with job of the hut either. No sluggy concerns there   Keith Weinhold  41:42   if you've wanted a deal on a property today, here you are with these new build incentives that are really good, better than what most builders are giving looks like. Here's your chance. One reason that the builders are giving us a deal is because of the bulk of GRE buyers. This is for you, if you might want one property or 14 properties load up with these up to 10% builder incentives, or just attend the webinar and learn more. We got into the wholesale division of these builders. We got them right where we want them. The properties are typically already tenanted. So plant your flag in the ground, and call this the pivot point. This whole thing could be a bigger deal than the first man to walk on Mars. We'll see, though, no man has walked on Mars yet, but you don't need to wait that long. Take one of your 30,000 days that you've been gifted in this life of yours, the 30,000 days you've been allotted on this earth to win back some of your future finite time. It is next week, Thursday, the 13th, at 8pm Eastern. It's also GRE last event of the year, your last chance, a live, virtual event where you can attend from the comfort of your own home or anywhere. And it's free. Registration is open now. Sign up at gre webinars.com that's gre webinars.com Until next week, I'm your host. Keith Weinhold, don't quit your Daydream.   Unknown Speaker  43:17   Nothing on this show should be considered specific, personal or professional advice, please consult an appropriate tax, legal, real estate, financial or business professional for individualized advice. Opinions of guests are their own. Information is not guaranteed. All investment strategies have the potential for profit or loss. The host is operating on behalf of get rich Education LLC, exclusively you   Keith Weinhold  43:45   The preceding program was brought to you by your home for wealth building, getricheducation.com

Get my new book: https://bronsonequity.com/fireyourselfDownload my new special report - How to Use Inflation to Your Advantage - www.bronsonequity.com/inflationWelcome to our latest episode!Join Bronson today for an episode with Brian Burke, author of The Hands-Off Investor and founder of PraxCap. Brian shares his journey from house flipping to syndicating 10,000+ multifamily units, selling his portfolio in 2019-2020 to avoid market resets. Learn how he shifted to senior housing (assisted living, skilled nursing) amid demographic tailwinds, acquiring 19 properties for $150M in two years.Discover key advice for passive investors: prioritize operators over deals, vet via track records and networks, and embrace work-life balance.ANCHOR TIMESTAMPS0:40 — Guest Intro: Brian Burke1:22 — Work-Life Balance in Real Estate2:02 — Seasons of Work & Travel3:05 — Scaling & Exiting Multifamily4:18 — Calling Market Cycles5:18 — Lessons from 2008 Crisis6:15 — “Sit on the Beach” Strategy6:41 — Pivot to Senior Living7:43 — Medium-Size Portfolio Acquisitions8:32 — Buying vs. Building Economics9:06 — Demand & Waitlists in Senior Care9:57 — Cap Rates: Senior Living vs. Multifamily10:48 — Demographic Tailwinds: Silver Tsunami12:43 — Multifamily Headwinds vs. Senior Housing Tailwinds13:48 — Biggest Mistake Passive Investors Make19:35 — Market Evaluation Strategy22:19 — Operator Quality = Deal Quality23:01 — Work-Life & Long-Term Success Advice25:28 — Where to Follow Brian26:00 — Closing & Investor Learning MindsetConnect with the Guest:Website: https://praxcap.com/The Hands-Off Investor (Book): http://biggerpockets.com/syndicationbookInstagram: @investorbrianburkeHashtags related to the episode:#PassiveInvesting#MultifamilySyndication#SeniorHousing#RealEstate#HandsOffInvestor#WorkLifeBalance#WealthBuilding

In this episode of Bridge the Gap, BTG Ambassador and FSLA Board Member Damon Thomas, Senior VP of Operations at Providence Senior Living, joins the show. Damon shares practical insights on smooth senior living operations, leadership evolution, and the importance of culture in smaller, regional organizations. From his “daily alignment” meetings to managing the ever-present “top ten” list, Damon reveals how consistency and intentionality build thriving communities. Sponsored by Aline, NIC MAP, Procare HR, Sage, Hamilton CapTel, Service Master, The Bridge Group Construction and Solinity. Become a sponsor of the Bridge the Gap Network.Produced by Solinity Marketing.Connect with BTG on social media:YouTubeInstagramFacebookTwitterLinkedInTikTokMeet the Hosts:Lucas McCurdy, @SeniorLivingFan Owner, The Bridge Group Construction; Senior Living Construction Renovation, CapEx, and Reposition. Joshua Crisp, Founder and CEO, Solinity; Senior Living Development, Management, Marketing and Consulting.

Shari Ross joins co-host Carol Zernial and host Ron Aaron to talk about senior living made simple on this edition of Caregiver SOS. About Shari Shari Ross is the author of Senior Living Made S.I.M.P.L.E.™ and creator of its companion workbook and toolkit, designed to help families approach the senior living journey with confidence. A graduate of NYU and a seasoned sales specialist with over a decade of experience guiding families through important life transitions, she combines professional expertise with personal insight as she helps guide her own aging parents while raising two young adult children. Through her S.I.M.P.L.E.™ Method, Shari empowers families to make informed senior living decisions and move forward with confidence, dignity, and peace of mind. Hosts Ron Aaron and Carol Zernial, and their guests talk about Caregiving and how to best cope with the stresses associated with it. Learn about "Caregiver SOS" and the "Teleconnection Hotline" programs.See omnystudio.com/listener for privacy information.

In this episode of the Real Estate Pros podcast, host Erika speaks with Brandon Schwab, a pioneer in senior living investments. Brandon shares his journey from traditional real estate investing to focusing on senior care, driven by personal experiences and a desire to improve the quality of care for seniors. He discusses the significant need for change in the senior care industry, highlighting the advantages of cozy home environments over large facilities. Brandon outlines the investment opportunities available in this growing sector, emphasizing the potential for both financial returns and community impact. He also shares his vision for scaling the business and the importance of providing compassionate care to seniors. Professional Real Estate Investors - How we can help you: Investor Fuel Mastermind: Learn more about the Investor Fuel Mastermind, including 100% deal financing, massive discounts from vendors and sponsors you're already using, our world class community of over 150 members, and SO much more here: http://www.investorfuel.com/apply Investor Machine Marketing Partnership: Are you looking for consistent, high quality lead generation? Investor Machine is America's #1 lead generation service professional investors. Investor Machine provides true 'white glove' support to help you build the perfect marketing plan, then we'll execute it for you…talking and working together on an ongoing basis to help you hit YOUR goals! Learn more here: http://www.investormachine.com Coaching with Mike Hambright: Interested in 1 on 1 coaching with Mike Hambright? Mike coaches entrepreneurs looking to level up, build coaching or service based businesses (Mike runs multiple 7 and 8 figure a year businesses), building a coaching program and more. Learn more here: https://investorfuel.com/coachingwithmike Attend a Vacation/Mastermind Retreat with Mike Hambright: Interested in joining a "mini-mastermind" with Mike and his private clients on an upcoming "Retreat", either at locations like Cabo San Lucas, Napa, Park City ski trip, Yellowstone, or even at Mike's East Texas "Big H Ranch"? Learn more here: http://www.investorfuel.com/retreat Property Insurance: Join the largest and most investor friendly property insurance provider in 2 minutes. Free to join, and insure all your flips and rentals within minutes! There is NO easier insurance provider on the planet (turn insurance on or off in 1 minute without talking to anyone!), and there's no 15-30% agent mark up through this platform! Register here: https://myinvestorinsurance.com/ New Real Estate Investors - How we can work together: Investor Fuel Club (Coaching and Deal Partner Community): Looking to kickstart your real estate investing career? Join our one of a kind Coaching Community, Investor Fuel Club, where you'll get trained by some of the best real estate investors in America, and partner with them on deals! You don't need $ for deals…we'll partner with you and hold your hand along the way! Learn More here: http://www.investorfuel.com/club —--------------------

Are you a veteran or spouse worried about paying for long-term care? Get the most out of your VA benefits so you can afford the care you need and deserve. Even if you've planned for retirement, assisted living, skilled nursing care, and at-home care can be expensive. With VA programs like pension, aid and attendance, housebound allowance, and compensation, the care you or your spouse needs can become more affordable.Talk to a representative from your local Veterans Affairs office or Veterans Service office to make sure you're maximizing your retirement benefits. They can help you understand what services you are eligible for, connect you with other resources in the community, and make navigating application processes easier for you.It's never too late to start planning and saving for retirement, but the earlier you start the better. The military even has financial planners available to you if you're still serving. Be sure to take advantage of the benefits available to you while you're active duty and as a veteran so you can afford to retire when you want.In Ohio? You can find your local county Veteran Service office here: https://dvs.ohio.gov/what-we-do/find-a-cvso

Keith discusses strategies for amplifying investing returns and reducing lifetime tax burdens through real estate, geography, and industry.  He compares tax burdens by state and explains how investors can leverage low-income tax states and low-property tax states.  Podcast host, investor and developer, Victor Menasce, joins the conversation to highlight the industrial real estate market, emphasizing the demand for warehousing and logistics.They touch on the potential in industrial outdoor storage and the complexities of data center investments. Reach out to Y Street Capital to learn more about their projects and the real estate espresso podcast. Resources: Switch to listening to the podcast on the Apple Podcasts or Spotify app, as the dedicated GRE mobile app will be discontinued at the end of the month. Show Notes: GetRichEducation.com/577 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  1-937-795-8989 to speak with a freedom coach Will you please leave a review for the show? I'd be grateful. Search “how to leave an Apple Podcasts review”  For advertising inquiries, visit: GetRichEducation.com/ad Best Financial Education: GetRichEducation.com Get our wealth-building newsletter free— text ‘GRE' to 66866 Our YouTube Channel: www.youtube.com/c/GetRichEducation Follow us on Instagram: @getricheducation Complete episode transcript: Keith Weinhold  0:00   Welcome to GRE. I'm your host. Keith Weinhold, we're talking about how you can use real estate, geography and industry to amplify your investing returns over the course of your life and permanently reduce your lifetime tax burden today on Get Rich Education.   Keith Weinhold  0:21   You know, most people think they're playing it safe with their liquid money, but they're actually losing savings accounts and bonds don't keep up when true inflation eats six or 7% of your wealth. Every single year, I invest my liquidity with FFI freedom family investments in their flagship program. Why fixed 10 to 12% returns have been predictable and paid quarterly. There's real world security backed by needs based real estate like affordable housing, Senior Living and health care. Ask about the freedom flagship program when you speak to a freedom coach there, and that's just one part of their family of products. They've got workshops, webinars and seminars designed to educate you before you invest, start with as little as 25k and finally, get your money working as hard as you do. Get started at Freedom, family investments.com/gre, or send a text. Now it's 1-937-795-8989 77958989, yep, text their freedom coach directly. Again, 1-937-795-8989,   Corey Coates  1:34   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  1:49   Welcome to GRE from Milford, Delaware to Milford, Utah and across 188 nations worldwide. I'm Keith Weinhold, and this is get rich education, the voice of real estate investing since 2014 now, what do you think about a multi week government shutdown? That means there's a cut in your service level, but of course, oh geez, there's no commensurate cut in the amount of taxes that you pay. This is the government's version of charging rent on a vacant unit. That's what's happening. That's what we've been looking at in the biggest expense you'll ever pay in your life. It isn't housing, it's taxes. Before I get to how you can reduce the amount of taxes that you'll pay throughout the course of your life, which is huge. Let's pull back, and I guess it's a bit of a real estate geography riddle for you, imagine if there were a place that existed, and this place is within a 15 minute drive of a seacoast, 15 minutes of mountains, within 15 minutes of an urban core of about 300,000 people, and within 15 minutes of an international airport and a decent airport that has direct, non stop flights to Europe. Even, could that place exist all of that? I mean, it almost sounds too good to be true when I put it like that, yes, it does, and it's in the United States. On top of that, this same place with proximity, within 15 minutes of all four of those things, has zero state income tax and zero sales tax. Yes, all this is in the same place, and that's where I am coming to you from today, Anchorage, Alaska. I traveled a good bit, and I can't think of another place in the US quite like it. A quick check of Chad GPT corroborates this, saying that the US places that come closest are Honolulu, Juneau and Bellingham, Washington. They come the closest to that. Now, the biggest downside, in my opinion, is a long, dark, cold winter. Well, that's when I do more traveling, but I spend many months of the year right here in Anchorage. And my guest today, who you'll hear from later, I haven't had him on the show in years, where recently he I and his wife, Natasha, toured Anchorage. I drove them around.   Keith Weinhold  4:29   first, let me tell you about a creative way to pay both a low property tax and a low income tax, and that is no matter what state or province that you live in now, the big three taxes that people pay throughout their lives are income tax, sales tax and a property tax. Those are the big three, and when you combine those to come up with the highest and lowest tax burdens by state, you'll notice that coastal states often pay the most. They generally have the biggest burden, because coasts attract people, and therefore those highly populated areas, they need infrastructure, say, for example, more bridges, and they often have more social services for people, and it costs tax money to maintain all of that. Now, look, will people move to an area specifically because they can get low taxes there? Like is that amenity in itself an attractant? Actually, not so much. No, you do get some people to move to Puerto Rico, predominantly for that reason. But interestingly, the two states with the lowest overall tax burden, that is, when you combine income, sales and property tax, the lowest are Alaska and Wyoming, and yet they have the fewest people living there, under 1 million people each. So the two states with the lowest tax burdens are also the two least populous states. So it is not making people flock there. So where you choose to live? Oh, that has more to do with your overall quality of life. And you know that's probably as it should be. Well, whether you own your home or you rent your home, you effectively do pay property tax, because tenants end up subsidizing the landlord's expenses. Most property tax maps that you see out there, those national property tax maps, they show the average tax bill that a household pays by state, regardless of real estate values. Well, that's not so useful. You might remember that a few weeks ago in our newsletter, I sent you the best and the smartest property tax map that I have by county. You'll remember that it showed the property tax paid as a percentage of the home value, so that relative basis is what matters more. When we look at property tax paid that way, we can more transparently see that the highest property taxes are generally paid in three US regions. Those three regions with the highest property taxes are the northeast, much of the Great Plains and Texas now a 1% property tax rate is, for example, when you have to pay 4000 bucks a year on a property value of 400k That's that 1% and the lowest are in the Western US and the nation's southeast quadrant, often under 1% we're just talking about the property taxes only here. Now out west, lower property taxes, they still rarely create investor cash flow, and that's because purchase prices are too high out west, and rents don't keep up with them proportionally. But low taxes, they do adequately sweeten the most investor advantaged areas, that is in the southeast Indiana, Missouri, Oklahoma, Hawaii, and a bunch of the Mid Atlantic states. All right, so they are the investor advantaged areas that also have low property tax. The nation's lowest property tax rate is in Alabama. Roll tide, I think I've mentioned that on the show before. All right, so that's property tax, but states have to get their revenue somewhere, so oftentimes, if their property tax is low, well then they have to make up for that. So therefore their income or sales tax can be high. Now as far as income tax, each state has their own of course, the high ones are New York, New Jersey, California and Hawaii. Those are many of the high ones. But there are nine states with zero, absolutely zero, state income tax, and those nine states that are free of income tax are the aforementioned, Alaska, Florida, Nevada, New Hampshire, South Dakota, Tennessee, Texas, Washington and Wyoming and Washington gets somewhat of an asterisk that has a little wrinkle in it. That's one of the nine with the wrinkle, you'll pay zero income tax on your wages in Washington. It only applies to high earners, capital gains tax income there, all right. Well, all of that is true for everybody there, every US citizen. But here's the arbitrage that a real estate investor can create. If you live in one state and you own property in another state, you always pay property tax where the property is physically located, not where you live. I mean, any longtime out of state real estate investor knows that. So you can therefore live in a state with little or no income tax, for example, Texas, and then a Texas resident can skirt Texas's higher property tax by investing in a different state that has low property tax, like, say, Alabama or Tennessee. Oh, well, now both your property tax and your income tax are low this way. And congratulations, you have just legally exploited the tax system. Some examples of a low income tax home state where you live and a low property tax investor state where your investment property is, so that you get the best of both worlds. They are, Texas is your home state, and Alabama is your investment property state, like I just described, and then a few other scenarios, so that you can legally use the system to pay both a low income tax and low property tax. Are having Pennsylvania as your home state and Missouri as your investor property state, having New Hampshire as your home state and Tennessee is your investor property state. And then another example, having Washington as your home state and Arkansas as your investor state. Those are just some examples of combinations there about how you can live in a low income tax state and then also enjoy having your investment property in a low property tax state and see perhaps now you're doing this without having to move. Yes, investing in low property tax states. Now, of course, property taxes are set at the county or city level. They're not set federally, but just within one state. Sometimes property tax can vary dramatically, which you probably know, but two of the biggest examples of this are in Illinois, Cook County, which is Chicago, and also Miami, Dade County, Florida. I mean those jurisdictions, they have tax rates that can make wallets cry more than their surrounding counties do, and some states have maximums, legal limits ceilings on property taxes. California proposition 13 famously limits property tax to 1% of assessed value, and then the increases are capped as well. I mean this means the two California neighbors with identical homes can pay wildly different taxes, and Florida is still looking to completely eliminate the property tax. Can you imagine that? I mean, it seems doubtful that that will happen, but you can conceive of how much more desirable that would make Florida properties, and that would probably make all Florida housing values skyrocket now, just because a property has a high property tax rate that doesn't disqualify it as an investment property alone, it's just one consideration that'll show up in your proforma, your cash flow. So the bottom line is that as an income property owner, property tax is mostly passed on to your tenant, but paying a low rate still keeps you more flexible and profitable. So think of a map of states with low property taxes, sort of like a treasure map, but instead of x marking the spot, it marks where your money will go the furthest.    Keith Weinhold  13:36   And if you want real estate maps like I'm talking about here, and stories and great charts and investment opportunities that I cannot fit onto the channel. Here, you can grab them in my free weekly newsletter at gre letter.com and part of this is because I just cannot adequately describe a map or a chart to you here in an audio format. You get more in the letter free wealth, building insight every week. And it comes straight from me. 1000s of investors read it every week. Don't live below your means. Grow your means. Get It At gre letter.com Again, that's gre letter.com   Keith Weinhold  14:20   something interesting just happened when Wells Fargo released their housing forecast for the next two years. Let's discuss that between today and 2027 they expect the federal funds rate to drop by a full 1% but they don't expect mortgage rates to drop as much only about a quarter point drop over the next two years in the 30 year fixed rate. For next year, they expect home prices to rise three and a half percent, and then the year after 3.7%. looking down the road a couple years here, and this is sorced by Wells Fargo economics and the US Department of Labor and the FHFA and more. All right, so only a small reduction in mortgage rates and a pickup in home price appreciation, although still pretty moderate. Now you gotta take any interest rate prediction with a grain of salt, like I've told you here before. I personally, I do not forecast interest rates, and when you're looking at interest rate predictions, you are squarely looking at a waste of your time.   Keith Weinhold  15:34   Now, a recent Gallup poll wanted to find out what Americans consider to be the best long term investment. That's the question that the pollsters asked, what is the best long term investment? And the findings were that 16% said stocks. I mean, despite the fact that stocks only seem to make insiders wealthy, still somehow 16% of Americans consider stocks to be the best long term investments, a higher share of Americans, 23% said gold. That actually surprises me, that nearly one quarter of Americans say that gold is the best long term investment, when only about 10% of Americans own gold in the physical form, like bars or coins. And part of this could be driven by the recent hype, where the gold price has more than doubled just since last year, and it broke above $4,000 an ounce for the first time in history this month. All right, so 16% said stocks, 23% said gold. And what's number one in the Gallup poll for what Americans believe is the best long term investment? It's real estate. Ah, well, they got that right. That actually gives me a little more faith than Americans there. Now, when it comes to real estate investment, you know, there's this long running mantra or catchphrase out there that I really disagree with. I mean, you've certainly heard this before, but it just does not resonate with me. And that is, appreciation is just the icing on the cake. That's the catchphrase I am not feeling the vibe there. How in the heck is appreciation just the icing on the cake? The presumption, the inference here, is that cash flow is the main driver of an investment philosophy, and then if you just happen to get appreciation too, oh, well, that's a little sweetener. Like the mantra would say cash flow is the cake, the majority piece, and then appreciation since the icing, oh, that's only a little thing. No, that's misleading. You usually get more of a return from appreciation than you do cash flow.   Keith Weinhold  17:56   I mean, on, say, a 400k income property, what if you only get $200 of cash flow? That can happen? That's $2,400 a year. But instead, 5% appreciation on that property gives you $20,000 a year. That is almost 10x. I think what the icing on the cake, curious catchphrase means is that cash flow is important because it controls the mortgage. Well, then I think it's just better to say that appreciation is not an inconsequential thing. It's often the biggest thing. So is appreciation just the icing on the cake? No, it certainly is not. In fact, I'm going to talk more about that next week when I've got something special planned for you here on the show. What I'm going to do then is look at the ways real estate pays you five ways in a slow market, the real estate market is slow. If you look at it on a basis of transaction volume, say that you buy a property today and over the next year, you don't even get what Wells Fargo forecasts say you only get 2% appreciation and zero cash flow. Just break even on a monthly basis. I mean, there's surely some disappointing numbers, but just say that's what happens. Well, next week, I'm going to add up what your total rate of return would be even in this dour scenario, and I think that you are going to Marvel be flabbergasted at how profitable you are if you just got 2% appreciation and zero cash flow. That's next week.    Keith Weinhold  19:36   As far as today, I'm about to bring in a super smart guest that hasn't been on the show here in a few years. He's usually a fellow faculty member on the real estate guys invest or summit at sea. But he wasn't there with me this year, so we met up in Anchorage. Instead, we're talking about changes to commercial real estate that market, and the opportunities that you might be able to find there from Industrial land, an activity that well generates noise, like Bitcoin mining operations and growing data centers with the increased use of AI. And as you listen, see if you know what I mean about how he feels professorial in his approach, and I mean that in the best possible way you can learn from him. He's from Ottawa, Canada, an international conversation coming up next. I'm Keith Weinhold. You're listening to Episode 577, of get rich education.   Keith Weinhold  20:34   If you're scrolling for quality real estate and finance info today, yeah, it can be a mess. You hit paywalls, pop ups, push alerts, Cookie banners. It's like the internet is playing defense against you. Not so fun. That's why it matters to get clean, free content that actually adds no hype value to your life. This is the golden age of quality email newsletters, and I write every word of ours myself. It's got a dash of humor. It's direct, and it gets to the point, because even the word abbreviation is too long, my letter takes less than three minutes to read, and it leaves you feeling sharp and in the know about real estate investing, this is paradigm shifting material, and when you start the letter, you'll also get my one hour fast real estate video, course, completely free as well. It's called the Don't quit your Daydream letter. It wires your mind for wealth, and it couldn't be simpler to get visit gre letter.com while it's fresh in your head, take a moment to do it now at gre letter.com Visit gre letter.com   Keith Weinhold  21:46   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  22:19   what's up? Everyone. This is hgtvs Tariq al Musa. Listen to get rich education with Keith Weinhold, and don't quit your Daydream.   Keith Weinhold  22:27   Hey, it's great to welcome back a longtime industry friend. He's a senior partner at y street capital. He owns a development company that's active in nine US states and two Canadian provinces, and he's the host of the real estate espresso podcast. Hey, it's great to have back. It's been a few years. Victor Menasce, great to be here. Keith, well, you know what's different? I mean, we were together doing some sightseeing around Anchorage, Alaska. You I and your wife here just a few weeks ago. That was great to have you. And then you had a nice Alaskan cruise after that. It was lovely. It was great to spend time with you in person, where you and I have spent time together at conferences all around the nation. So thank you for that. Yeah, it was great to do some fun stuff and like, Oh, hey, this guy knows a world outside of just talking about cap rates all the time. So Victor, the commercial side is pretty dynamic, and it sure has been lately with all the changes that we've had in the world, really starting with the pandemic almost six years ago, now, that includes the industrial space and how the need for warehousing and storage has changed. So from a real estate perspective, tell us about what you're seeing there.    Victor Menasce  23:41   We're seeing a lot of changes. Of course, there's a lot of uncertainty that's been injected by the current administration in Washington in terms of international trade. But even if you put that aside the flow of goods from wherever they're manufactured to the end customer, that flow is still there. It's one of these things that often creates inefficiencies, especially as you start to think about really optimizing the overall cost. You know, if you think about what inventory costs you to have on a retail floor where you might be renting that retail space at, I don't know, 55 $60 a square foot, and it's occupying very, very expensive real estate, if you can instead put that in a warehouse that's maybe at 10 to $15 a square foot. Oh, but wait a minute, you've got a 27 or a 35 or a 40 foot ceiling height, and you're stacking it seven to nine levels high. Really, the cost of that inventory has gone way, way down because you're putting it much less expensive real estate, right? Okay, so here is one of the efficiencies of a retailer doing e tail instead of brick and mortar retail, absolutely. And you know, we often see situations where the last mile, you know, we want to get that instant gratification as a consumer, but we don't necessarily want to be having to drive to that retail space. And we don't that's. Supplier doesn't necessarily want to pay Amazon for warehousing that particular product. So often, the fulfillment is done locally, that last mile Logistics is extremely important. That's putting a lot of pressure on this category of product that has traditionally been called Flex industrial. These are those places in the industrial park that you might see an electrician or a landscaping company or a plumber or anyone like that that has an office at the front of 14 or 18 foot Bay at the back and a bit of inventory. A lot of that product right now is being pulled off the market for many different reasons. Some of that's just disappearing and that land is getting repurposed for residential. Some of it's disappearing because people are putting gyms and pickleball courts and things like that and those types of products. Some of it's disappearing because people with exotic car collections want to use that space for a man cave. There's many different things that are demanding that particular product, and there's very little of it getting built. So that's another area right now that is under a lot of pressure. On the demand side, not a lot of new supply and rents are going up much, much faster than they otherwise should be. Talk to us more about the industrial space from the supplydemand perspective, what do people want and what do people need? It varies widely. There are companies that are in manufacturing, they will often look to refresh their investment in equipment. They may not have the capital, so they will sometimes do a sale, lease back of their building, of their facilities, so that they can then repurpose some of that capital onto into the equipment side, so that they can maybe modernize their manufacturing. That's another area where we see significant shifts happening. In industrial we also see a lot in logistics, where the most efficient way to move goods is a 200 year old technology called rail, and it's still alive and well. I mean, if you think about the cost of shipping a container across the country, you're going to spend about two cents per ton mile to move that by rail, or about 10 cents per ton mile to do it by truck. So that's a five times difference in price. That means a container from Los Angeles to New York is going to cost you about $1,400 if you're moving it by rail, or about $7,500 if you're moving it by truck. But if you're now part of the rail system, there's now logistics that you have to worry about at either end. And so if you want to make all of that work, those transfer hubs become extremely important, and there's just not a lot of them,    Keith Weinhold  27:38   okay, so it might only cost 1/5 as much per ton mile to move a good over rail as it does road. But you're sort of talking about the logistical challenge of, oh, getting it that last mile from the rail Terminus to the end user.   Victor Menasce  27:53    absolutely. And there can be a lot of cost associated with that last mile. So if you can solve that problem for the logistics companies and lower their cost for that last mile. That's got significant value, and that's another demand for industrial land. And very few cities are adding industrial land to their master plan. You know, warehouses don't vote, so they don't tend to take other land and zone industrial In fact, if anything, it goes the other way. There's a lot of pressure to take land that was zoned industrial and rezone it for commercial or for residential. In fact, we see that in a lot of cities.    Keith Weinhold  28:30   Now, you the listener, if your entrepreneurial wheels are turning, you can see the opportunity for, Hey, can I get in and help solve the problem in that last mile demand creatively. How do I think I could get in? How do I think I could do that, as long as that demand is sustainable? Victor, when we talk about industrial real estate, like we are here as real estate investors, one of the things that we often think about is site selection. Tell us more about that through the industrial lens   Victor Menasce  28:58   I think there's a couple things that matter. Number one, you can't pay too much for it. It's got to be at the right price. So you've got to be thinking about, you know, we always do what's called residual land value analysis and and that happens in residential, commercial, every single asset class, everyone works backwards from the answer to the question. So the answer is, here's how much profit I need to generate. Here's my capital cost. Here's, you know, you keep backing up and you say, well, now what's left over? That's what I can afford to pay for the land. So you always gotta be working backwards from the answer to the question. And this is no different. We do this in industrial as well. So you gotta make sure that that situation where the numbers work. Number two, you've gotta make sure that there is the right supply, demand dynamics. Got to make sure that the property itself is not contaminated. That can be a liability. If that was once a heavy industry site, then there could be contamination. You want to make sure that that's somebody else's problem, not yours, or if it is your problem, that you can mitigate it where the cost is bounded. So you got to. You know, look at all of these things together. And then, of course, there has to be good connectivity, good access to freeways, to major arterial roads, good access to rail. If you can get a Rails per on the property, even better. But even if you can't, as long as you have good access to major roads. You know, I always look at this through the lens of product design, where you're designing a product for a very specific customer. And so it's really, it starts with the end customers need in mind. And it's not a speculative process. It's really understanding who that customer is designing a product for them and making sure that you're delivering it at the right price. So it's always, always working backwards from the answer   Keith Weinhold  29:43   nowwhen we think about site selection and geography of where we're putting this real estate cities are often located on a body of water, like a bay or a river, often runs through a city, but yet you think of industrial use. Land is not your priciest land, but yet you think of a city center as your priciest land. Oftentimes, where do you put the industrial real estate with regard to the city center? I usually think of it as far outside of that. But are there other trade offs or nuances there?   Victor Menasce  31:11   it can be. You know, it's a question of whether you're doing a greenfield project or an infill project. If the land was previously zoned industrial and you're now just redeveloping it, that can make a lot of sense. If it is a greenfield project where you're looking to build new then, yeah, it's probably going to be in the outskirts, because that's where you're going to get the best land cost. And then, of course, you got to be thinking about what the end product is, and it what's it going to cost you to get it where it needs to be. Most of these projects are built slab on grade, which means that the surface has to be suitable for that sort of building. The land might be cheap, but if you've got to bring in half a million yards of gravel to get the site where it needs to be, it might not look cheap anymore, because you could import so much material. So you have to think of the cost of the land in a shovel ready context, because you can spend an awful lot of money moving dirt, moving gravel, things like that that will be necessary for an industrial project. So when we look at land for that product, we're always looking at it through the lens of, is it in a floodplain? Is it high enough ground? Is it drain? Well, all of those things that come into the cost of preparing the site to accept that kind of a building.   Keith Weinhold  32:23    Now, when we think about what goes on in an industrial space in your mind's eye, you might think of an asphalt plant, or you might think of the noise in some rumbling concrete trucks. With regard to that, what are your thoughts about nimbyism? Do you see much, not in my backyardism among communities with industrial real estate.    Victor Menasce  32:44   Oh, absolutely, without a doubt. And oftentimes that's one of the reasons why industrial land often gets pushed out away from those residential zones. So once you're outside the radius of people who can object, then there's no objection. So that's one way to solve it, and often a good way to solve it, by the way, but you also have to be mindful the fact that if there is potential contaminants coming off of that site, you don't want to be near a body of water that can carry it down into an aquifer and so on. So you've got to be thinking through containment issues. You've got to be thinking through noise propagation issues. There's been, in fact, a lot of issues with data centers, where the air handling and the the air conditioning systems right generate a lot of noise, and that noise often carries over very large distances. And you know, we're talking noise levels that would be very offensive to most homeowners. Some people have had to move because the noise levels have just been so continuous.    Keith Weinhold  33:42   I like the way you put that Victor. It's sort of like, yes, industrial parks are built outside the radius of the loudest objectors. That's right where they're going to go. But that's really the way that it is sometimes when we think about more contemporary uses for how we use industrial real estate today. You touched on data centers, also Bitcoin miners, you know, these are some of the things that generate noise. So what are some of the considerations with those two?   Victor Menasce  34:06    If you're looking at a data center, they consume a lot of power and they generate a lot of heat. The most efficient way to get rid of heat is with water. And that sounds a little bit strange, but you think about it this way, if you heat a molecule of water by one degree. I'm going to actually give you the textbook definition of a calorie. You take that water and you heat it by one degree, that'll consume one calorie of water. That's the definition of a calorie. And if you take it from the liquid state to the vapor state, just that phase change at 212 degrees Fahrenheit, or 100 degrees centigrade, that phase change is going to consume 500 calories. So you're getting rid of tremendous amount of heat by evaporating water, and that's why data centers consume so much water, is because they evaporate the water. That's the way they get rid of the heat. They evaporate it into the atmosphere. And that's how they get rid of the heat. It's the most efficient way to do it, but it consumes a lot of water resources. And then, of course, you've got to have the power to get into the data center, and a lot of places don't have the electric infrastructure to provide what's needed on a sustained basis. So you need not just good power, you need good power redundancy. So if there's a power failure here, you've got maybe redundant paths. So if one transmission line goes down, you've got alternate paths to keep the data center running. And you need the same thing also with communication, so multiple redundant fiber pathways in and out of the data center. So all of these things come into site selection. And then if you got all of that right, you got to overcome the neighborhood objections.    Keith Weinhold  35:45   Yes, that's right. We're doing a little science here with Victor Menasce, experienced international developer, and Victor when we think about industrial real estate, and we're here on an investing show. You know, maybe an investor sees potential in data center real estate or something like that. So for the individual investor, what can they do? Can they do anything individually? Are there funds to invest in, to either avoid or be attracted, to tell us about how the investor can get in?    Victor Menasce  36:15   We're not active in data centers. We're active more on the industrial side. I know the existence of data center funds. I know, for example, Kevin O'Leary, very famous Shark Tank, is a major investor in data centers. If you look him up, there might be some potentials there. Many of the major players in artificial intelligence, Oracle right now is taking on a boatload of debt to build data centers for open AI, so they're going to both build and operate those data centers. And I don't know where they're getting their capital, but they're getting a lot of it, or at least that's what's been announced publicly. Data centers require a lot of at least at that scale, require tremendous amount of infrastructure. We're talking hundreds of acres. We're not talking a small warehouse here that might be a million square feet. We're talking big, big acreage for those scale projects and for more localized projects. Yeah, there are smaller data centers, but they're not that economical to run. So it's usually the large ones that are the most cost efficient.   Keith Weinhold  37:16   Well, two things Victor is there anything else about industrial real estate? Our listeners should know maybe something I did not think about asking you and then tell our audience how they can learn more about what you're doing.    Victor Menasce  37:27   We see opportunity in particular. We think of it almost like a covered land play. We're very active in the industrial outdoor storage space where there is need for things to be stored outdoors. It might be landscaping companies that want to buy materials by the truckload. It might be car dealerships that have an excess of inventory. It might be boat and RV storage. There's many different uses for secured outdoor storage, and these are products that are designed very specifically for customers that have those needs. And as a covered land play, frankly, some of the best returns that are available in the marketplace. We've looked at a number of different things, and this is where we're placing majority of our energy right now as a development company is in that space, because we see it as an underserved segment of the market where there is not a lot of institutional money that's come into the play yet, so we're very active in that space.    Keith Weinhold  38:22   And how can our audience learn more about what you're doing   Victor Menasce  38:25   best is to reach out to us at y Street, capital com. Be happy to have if folks want to learn more about our projects. There's a place where they can sign up on the website to get more information. And love to have you as guests or as listeners to the real estate espresso podcast, and that's a daily show, seven days a week, so love to have you as a listener for that show as well.    Keith Weinhold  38:46   And that's the letter Y, Y Street, capital.com,Victor Mesance, it's been enlightening as always. Thanks so much for coming back onto the show.    Victor Menasce  38:55   Thank you so much.   Keith Weinhold  39:02   Oh yeah, good stuff from Victor as always. Another thing that he, I and his wife did in Anchorage when he was here recently is visit, well, it was not an AI data center, but we went to a mint that sells gold bars, nuggets and bullion. I really just looked. It was fun to look with Victor and actually pick up and hold gold nuggets, something that you cannot do online. I didn't have any intent to buy anything with the run up in precious metals prices. I made my last purchase of those in the middle of last year. So a year and four months ago today, I hear about lots of people rushing to buy precious metals. Now, amidst this big price run up and the run up might still have a ways to go, but no, the time to buy was like a year and a half ago or more. It's not now getting caught up in the euphoria this sort of exhaltation where you're paying double the price.   Keith Weinhold  40:03   next week here on the show, I've got more that I want to share with you on today's opportunity in new build rental property. How real estate pays five ways in a slow market, which is just fascinating. And I've got a GRE live event to tell you about next week as well, and more, lots of intriguing wealth building material here in future weeks, and then sometime after that, my own right hand assistant here at GRE is going to come out of the show and ask me some of your listener questions. It's the first time you'll hear her voice on the show. But more importantly, get my answers to your investing questions. If you'd like your question answered on a listener questions episode down the road, as always, you can write into us at get rich education.com/contact, that's get rich education.com/contact, until next week, I'm your HOST. Keith Weinhold, don't quit your Daydream.   Unknown Speaker  41:02   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  41:30   The preceding program was brought to you by your home for wealth. Building, get richeducation.com  

In this podcast, Natalie Ostas, Associate VP of Finance and Controller at Covenant Living Communities shares how next gen ERP is supporting a finance transformation that helps the organization empower community operators, drive efficiency and savings across the business, and power continued growth. Hear how modern technology including agentic AI can provide a competitive advantage in the senior living market, improving employee experiences and freeing time to do more for your mission.This episode is sponsored by Workday.

On this episode, host Peter Murphy Lewis talks with Greg Ernst, Vice President of Operations at Dial Senior Living and Chair of the Nebraska Healthcare Assisted Living Association. Greg shares his path from an uncertain start in healthcare to finding lasting purpose in senior living. He reflects on the daily rewards of connecting with residents, the importance of authenticity in leadership, and the impact of often-overlooked frontline caregivers. His story highlights the heart of long-term care and why people matter most.Key Takeaways:00:00 Introduction.02:40 Discovering senior living through an unexpected internship.05:10 How a resident's gratitude for housekeeping revealed a daily impact.09:23 Residents carry wisdom, vitality, and life experience.12:42 Senior living offers unmatched daily career satisfaction, often in simple ways.15:41 Overnight and dining staff often go unseen.18:15 Leadership values are shaped by the memory of a grandmother's selflessness.Resources Mentioned:Greg Ernsthttps://www.linkedin.com/in/greg-ernst-46b3502b/Dial Senior Living | LinkedInhttps://www.linkedin.com/company/dial-senior-living/Dial Senior Living | Websitehttps://dialseniorliving.comThank you for listening to “People Worth Caring About.” If you found value in this episode, please subscribe and leave a 5-star rating to help others discover these important stories.For more information and to connect with our guests, visit PeopleWorthCaringAbout.com.#HealthcareLeadership #WasteManagement #SkilledTrades #PeopleWorthCaringAbout

Director of Living Revolution, Brandi Beckley, joins Matt to demystify FF&E (furniture, fixtures, and equipment) for senior living communities. They break down the common design and purchasing mistakes, why cheap furniture costs more in the long run, and how thoughtful choices impact resident and staff experiences. Brandi shares practical insights on creating cohesive, functional spaces that elevate community image and operational ease.Guest BioBrandi Beckley is the Director at Living Revolution, a Chicago-based firm specializing in FF&E solutions for senior living communities. With a background in event management and nonprofit advocacy at LeadingAge Illinois, Brandi brings a unique blend of strategy and empathy to designing functional, beautiful environments that reflect a community's mission and values.Timestamps:01:01 – Brandi's path from international business to senior living02:51 – Why FF&E is more than just furniture shopping04:30 – New builds vs. refreshes: What's trending in senior living design05:20 – The top 3 mistakes communities make when refreshing spaces09:58 – A real-world refresh gone wrong—and how to fix it12:41 – Which products don't hold up in senior living environments14:35 – Rethinking artwork: function, emotion, and wayfinding15:38 – The right first step for a successful refresh16:48 – Brandi's own furniture hacks (and what she doesn't buy for her house)

In this episode, show host Scott McCorvie discusses the entire senior living budgeting process. From the timing, to the process, to helpful hints, strategies, and best practices, Scott McCorvie shares over 20 years of senior living budget creation / review experience to help you create dynamic, enhanced,  accurate operating budgets for you senior living communities going forward. To learn more about the investment advisory solutions at Enhance Senior Living, visit our website: enhanceseniorliving.com. To contact show host Scott McCorvie (CEO of Enhance Senior Living) email Scott at scott@enhancesl.com. 

Keith sits down with Terry Kerr and Matthew Vanhorn, the leaders of America's oldest turnkey real estate provider, Mid South Home Buyers, to unpack the practical systems that keep thousands of rental units profitable and tenants happy. With national renter mobility dropping, longer stays are now the norm. Average resident stay is 4 years—double the industry average, thanks to proactive maintenance and relationship-driven management. Instead of fighting for eyeballs on Zillow, they target HR departments at hospitals, universities, and major employers, tapping into pre-screened, income-verified tenants with stable paychecks and predictable work schedules. Invest where returns still make sense. Visit midsouthhomebuyers.com to book your investor tour and get $500 off your first property. Resources: Switch to listening to the podcast on the Apple Podcasts or Spotify app, as the dedicated GRE mobile app will be discontinued at the end of the month. Show Notes: GetRichEducation.com/576 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  1-937-795-8989 to speak with a freedom coach Will you please leave a review for the show? I'd be grateful. Search “how to leave an Apple Podcasts review”  For advertising inquiries, visit: GetRichEducation.com/ad Best Financial Education: GetRichEducation.com Get our wealth-building newsletter free— text ‘GRE' to 66866 Our YouTube Channel: www.youtube.com/c/GetRichEducation Follow us on Instagram: @getricheducation Complete episode transcript: Keith Weinhold  0:01   welcome to GRE I'm your host. Keith Weinhold, learn about how to cut your rental property vacancies and keep tenants twice as long. Why Memphis, Tennessee stays the cash flow King, and exactly where to find really low cost, quality properties today. That make sense from day one today on, get rich education.   Keith Weinhold  0:26   You know, most people think they're playing it safe with their liquid money, but they're actually losing savings accounts and bonds don't keep up when true inflation eats six or 7% of your wealth. Every single year, I invest my liquidity with FFI freedom family investments in their flagship program. Why fixed 10 to 12% returns have been predictable and paid quarterly. There is real world security backed by needs based real estate like affordable housing, Senior Living and health care. Ask about the freedom flagship program. When you speak to a freedom coach there, and that's just one part of their family of products, they've got workshops, webinars and seminars designed to educate you before you invest. Start with as little as 25k and finally, get your money working as hard as you do. Get started at Freedom family investments.com/gre, or send a text now it's 1-937-795-8989, yep, text their freedom coach, directly. Again, 1-937-795-8989,   Corey Coates  1:39   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  1:49   Welcome to GRE from New York's Long Island Sound to Washington's Puget Sound and across 188 nations worldwide. I'm Keith Weinhold, and you're listening to get rich education. There's an economic trend that you need to be aware of. We're going to talk about how you can play it in this era, sources ranging from Redfin to Housing Wire and others, you know they're all in agreement that the transiency rate, that mobility rate for Americans, is down. And what that means is, when people find a place to live, whether they're a property owner or a renter, they are staying put longer. They put this big, heavy anchor down, and that kind of goes along with employment. Although the unemployment rate is low right now, there aren't very many people moving jobs or changing jobs. So the rate of hiring is low, that's bad, but the rate of employer firings is low, that's good. So on balance, Americans are keeping their job if they've already got one, and they're keeping their home if they've already got one. But because movement has slowed, as we are in this slower housing market, I'll drastically oversimplify here. All right, a few years ago, you might have had a tenant stay for two years, and then there would be a one month vacancy between tenancies today, double both of those. You're more likely to see a four year stay, but two months between vacancies. So your occupancy rate, therefore, is the same in both scenarios, but there's less movement. Again, oversimplifying, but you can see the effect a longer vacancy period is bad, a longer tenant retention period is good, all right. Well, how do you increase your tenant's length of stay and decrease that vacancy in order to be more profitable as an investor and yet give your tenant a satisfactory experience too well. One thing that you can do is list your vacant unit with an employer. Yeah, advertise it through a local stable company. You're going to end up with higher quality tenants. See, there's already this built in screening that was done for you. The employer basically did that for you. So when you work directly with especially hospitals, universities, corporate campuses or military bases, what you're doing is you're fishing from a pond of already vetted, income verified and drug screened candidates. See these tenants what they had to do. They already had to pass HR background checks and employment verification in order to get their job. So for you, that saves you both risk and time compared to the you know, the Craigslist style roll the dice crowd. Now, Of course, we cannot discriminate against certain groups of people, and we'll get into that shortly. But of course, steady employment equals steady rent tenants sourced through employers. They usually have reliable paychecks, often through direct deposit. They've got predictable work schedules, and there's going to be less income volatility. So that means that you'll have fewer late payments and lower eviction risk. And some landlords, you know what they do, they even structure rent payments through payroll deduction. I mean that essentially automates the rent collection. Yes, you can do that. Employees who move for a job, they often sign longer leases, because relocating again would be a hassle. So many will stay in your unit as long as they stay employed. That could be two years or five years, especially in the health care, education and tech sector. So less turnover means fewer make ready costs for you, fewer showings and just more ease and peace of mind. So advertising through employers that is a really low competition marketing channel as well. You know, most landlords, they blast their listings on Zillow apartments.com or maybe Facebook marketplace. Well over there, your post is just one out of hundreds, instead of all that competition, what you're doing is you're finding quiet, uncrowded channels when you utilize these employer housing boards and their HR relocation departments, and this way you can even get inside that company's internal newsletters so you're reaching renters before they can even start scrolling listings over on Zillow and see employers love this too. It's not like the employer is having to do a favor for you. They love it, because when they can help new hires or transferees find housing, it's better for that company. It reduces the employee's stress. It improves the retention at that company. If they have an employer that's satisfied and has a good place to stay, and it really boosts that company's recruiting success. So you're helping yourself, you're helping that company, and you're helping their new employee, which is your tenant. So this makes HR departments. They are surprisingly receptive to you. They might even circulate your listing internally or add you to their housing resource list. So this is a perfect fit for these hands off turnkey investors. So if you're doing that or you're managing properties remotely, this employer outreach, it really gives you a nice extra layer of reliability. And as far as the people that will be your tenants, think about nurses, engineers. IT staff, sometimes teachers, sometimes military based personnel. I mean, they are all ideal long term tenants. Now the way that you can actually do this and put it into practice is identify major employers that are near your property, that could be hospital systems, that could be universities or manufacturing plants, then contact their HR or the relocation department, and after that, it's not hard just provide them with a concise PDF or a one page flyer with your property photos and the monthly rent amount. And one thing you can do, and you should in this case, is put the distance or the time it takes to travel to the employer from your rental unit, and then add your contact info. That is exactly how you do it. You can offer a small incentive, like $50 off the first month for employees. So this is a slick way to advertise your vacancy with employers and make you more profitable over time.    Keith Weinhold  7:02   Now today, we're going to talk to who is actually America's oldest turnkey real estate company. As far as we know, they're based in Memphis, Tennessee, and we'll learn how they advertise a vacant unit and screen prospective tenants and place them and maintain their units over time. They are called mid south homebuyers. You've heard them on the show before, and because of their success, both investors and other real estate companies, they actually listen in intently to what these people have to say. I mean, others study them and learn from them. These are the people other companies study, and you're still going to hear from their principal and their sales lead about reducing your vacancy time and increasing your tenant duration. And, you know, it's just kind of funny how often Memphis, Tennessee, which is where they're based, how often this comes up in cash flowing real estate conversations that you have out there over time? I mean. And Memphis consistently has the best cash flow, maybe, amongst any substantial Metro in the nation. We'll just say among metros that are big enough to have a major pro sports team. I mean, Memphis does have the NBA Grizzlies. There aren't many other cities that can even compete with Memphis as the cashflow King, although there are some that you can work into the conversation. Indianapolis, Cleveland and Oklahoma City are some of those places. Now, before we're done, you'll also learn about how, even following this generation's big inflationary wave, how purchase prices are still as affordable as they are in both Memphis and Little Rock. I mean, this is going to make you ask out loud today, how could they still be so low? We'll also talk about conventional, enduring property management techniques today, now next month here on the show, we're going to talk about how you can use AI to self manage your properties, and that show next month is going to be with an expert straight from Silicon Valley. We're going to talk to the CEO of hemlane then and their AI driven property management software. She used to work for Apple, and she's got a Harvard Business School degree. That is next month today. It's about tried and proven techniques to make you more profitable as an investor   Keith Weinhold  11:24   I'd like to welcome in longtime friends of the show, with the emphasis on long time since they were first here with us, nearly 11 years ago, They are those ever steady property providers based in Memphis, mid south homebuyers. They also serve Little Rock, Arkansas. I have physically walked their offices and properties in person myself. They are, in fact, America's oldest turnkey real estate provider. And it's the return of their founder and principal, Terry Kerr and a second guest who you'll meet shortly, Terry, welcome back on of the show.   Terry Kerr  12:04   Thanks so much, Keith, so glad to be back.   Keith Weinhold  12:07   Congrats on your success. Your model and operation is prominent and exemplary nationally. You've now grown to 110 w2 employees there, and your 13 plus year property management guru who's been leading that entire division is now your sales director. It's terrific to introduce him to the world today. Matthew Van Horn,   Matthew Vanhorn  12:31   Keith, so great to be on here. Long time listener of the show. Really great to meet you.    Keith Weinhold  12:36   Yeah. Appreciate it now you'll soon be listening to yourself on the show. GRE, listeners are familiar with the turnkey real estate model. What you do is buy a distressed property, you rehab it, and then you place a tenant in the property, and you hold on to that for investors across the nation for the production of long term cash flow. Well, let's get an update between Memphis and Little Rock. How many properties do you hold under management for investors now and then? What percent are single family rentals versus other types?   Terry Kerr  13:07   Right now, we're about 57 maybe a little closer to 5800 and the vast majority of them are single family houses. I'm going to say probably. What 5% are duplexes? Matthew, something like that. Yeah, something like that. So no other multis, just single family, most of them rehabs. And of course, now we're doing a new construction direct to rental as well.   Keith Weinhold  13:29   Interestingly, with 58 to 5900 rentals, I mean, you can easily sort of be your own surveying outfit in an informal way, in finding out what's happening with the market, what all the dynamics are. So why don't we start at the beginning, when you're marketing and advertising and looking to place a tenant, tell us about just what you look for, just what you need to avoid. I mean checking for the tenant. That typically involves an employment check, a credit check, a rental history. Sometimes something might appear like a red flag, say, a 590 credit score. Would you always accept tenants in that condition? Because there are times when there are extenuating circumstances when a tenant with a 590 credit score actually might be a good placement. So tell us more about that screening.   Terry Kerr  14:17   As you know, it is renters that drive our returns as investors, and so selecting the right renter is where the money is made in this business, for sure, we are doing as much screening as we can for our renters. There's a lot that goes into that. We actually have a whole processing department. You know some people here who spend their whole day working in the processing division. And what you really got to watch out for, as far as red flags, is just fraud. There are so many ways you can use machines to defraud, and we have people who are able to detect and weed out the bad actors there, but we know what works really well. We have, for instance, in. Arkansas, the main employer of our residents is Baptist Health Medical Center, and we love our healthcare workers there. So that's a place that, you know, starting from the marketing side, we're going to dial up our marketing in those places we're going to go to the HR department, or we're often in the HR department of Baptist Health Medical Center, pushing and asking for referrals from them, you know. And same with just referrals in general, good tenants tend to refer other good tenants. We're of course, looking for strong income that we can verify. And more than anything, we're looking for strong, credible current rental history, so someone who's paying the rent today somewhere to a verified landlord, not their sister, you know, but a very verified landlord. That's the big thing, Keith.   Keith Weinhold  15:50   Tell us more about that. That's great that you're being proactive and getting right in there with a stable, steady employer. That is where our rent comes from. After all, are there any other red flags, maybe things that people would not think about identifying as a red flag when it comes to that employment, in that credit, in that rental history   Matthew Vanhorn  16:11   one reason I bring up the localized marketing that some people may not think about is that renters who move from Out of state often will land in a place and then stay there for one year, which is fine, but then they often don't renew their lease and they'll move somewhere else. Now, of course, what we have to do above all is we have to be legal, you know, so we can't discriminate against someone from coming from out of town, but what we can do is dial up our localized marketing so that we're getting people who are in the neighborhood, who love the neighborhood already where they are, and so that contributes to longer residence days, and it's just little things like that. Once again, you're looking for employment that you can verify, so that you know that you're getting a quality renter.   Terry Kerr  16:59   I'll also say that one of the ways that we try to attract the most potential residents we can is by having a free application. So typically, a property management company is going to charge, you know, 50 to 75 bucks per applicant. And we're very fortunate that we've get a terrific deal from Equifax, because we're also lenders, we do some lending to our investors, which gives us a really good deal on paying for credit checks. And so we waive those fees for our residents. And so a lot more folks are going to apply with us, because it doesn't cost them anything to apply. And of course, the more people that apply, you've got a much better shot at a filling the property quicker, but also finding a much better resident.   Keith Weinhold  17:44   well this is a great part of building the connection. One of the first interactions they have with you is realizing that you don't have any application fee. And AI can be great for marketing and for doing things like writing listing descriptions, but you build that human connection there. For example, you do in person showings. You invite prospective tenants in current tenants into your physical office, kind of replacing society's trust crisis with humanity.   Matthew Vanhorn  18:14   Yes, that's right, Keith. In the last 12 months, we've spent more money than ever on technology, so we are leaning heavily into creating the systems and processes that allow us to get to our service quickly. And at the same time, we've invested more into staffing up in the past 12 months, into inviting people into our office, you know, and we can still do everything remotely. We can do it virtually for folks who want that, we found that a lot of residents love to look us in the face, and they like to come down to our office, and they like to sit across from Karen and across from Gabby, and they just love the personalized experience that we give them. It's hard to quantify it, Keith, but I just really believe that it drives longevity, right?   Keith Weinhold  19:04   Having a face behind that rental because your properties are freshly rehabbed, or, in some cases, they're new builds, so hopefully you won't have too many tenant service calls once they do become a resident, and you don't need to interact with them all the time, though you're there for them, but once you have chosen a tenant, and that tenant is placed, you know somebody has to be the adult in the lease, and we sincerely hope that the tenant is one of them. So with regard to that, how do you help ensure that tenants keep making on time payments, and you can keep tenants and not get ones that break the lease. So can you speak to us about that, how you can help identify that in the screening and then that ongoing relationship?   Matthew Vanhorn  19:47    I will say that perfect vetting does not necessarily lead to perfect collections, because it turns out that every one of our residents, they are humans, and as humans, we run into things you. Know, divorce can happen. Relationship breakups can happen, job losses happen. Just very human things happen. And so we like to stay in touch with our residents as often as possible, and very much encourage an open line of communication. We very much believe in compassion based collections here at Mid South. And so when residents fall upon hard times, we are truly there for them. Memphis actually has more nonprofits per capita than any place in America then. So when residents do fall on hard times, you know, and it happens, we're actually able to reach out. We have connections with several agencies that can help with rental assistance for renters who need it, we found that by pouring into our staffing with the resident support and solutions department that we've had a lot of success in collecting just by keeping that relationship intact when the pandemic hit. For instance, and I know that's been a few years from now, and maybe we all want to forget it, our collections rate actually went up during that time, and I attribute that largely to the fact that, number one, we had a relationship in place with our renters. We staffed up, and matter of fact, we had a full time person just working to get rent assistance for those renters who kind of had been disenfranchised by the pandemic   Keith Weinhold  21:26   during pandemic times or post pandemic times whenever it is us as investors, we're always interested in reducing that vacancy time. We seem to be in a period, at least nationally, where when people get a hold of a place, they want to keep it and hold on to it. In a lot of markets, the duration of a tenancy has been increasing. So despite what era that we're in, can you talk to us about some of the best practices for how you reduce the vacancy time? Because we all know vacancy and turnover is our biggest expense over time. As investors,    Terry Kerr  21:58   I like to say, you know, at the heart of what we do is making sure that when a hard working, single mother comes home at the end of the day, she can give her child a hot bath. And that's not possible if the water heaters out. And that's just one example, but our main job is to give a good quality of life to the residents that we are caring for, and if we can do that, and if we can treat them with respect when they do fall on hard times, like Matthew said, they're going to want to renew the lease. So we have got a almost twice the average length of stay as the industry average, which is we've got about a four year average resident stay. And when folks move out of a mid south house, it's not because they can find a better value they're going to get. They're already in the nicest house on the street. And if something breaks, we're out there lickety split to fix it. When folks move out of a mid south house. It's either because they're downsizing. Kids are moving out, or they're going up because they're having their family increases and they've got to move up, or maybe something happens to them, like Matthew mentioned, you know, death, divorce, disability, these things happen, right? But no one's moving out because they can find a better value or because they're not getting the service or respect that they deserve.    Keith Weinhold  23:25   That says a lot. Being managers of 5800 to 5900 properties, which gives you this sort of canvassing or de facto surveying ability that you have. What are we seeing for the direction of rents? We'll get into rents and prices later, because nationally, rents are just holding steady. They're really not rising very much. What do you see there?   Matthew Vanhorn  23:49   Yes, we saw them fairly stable. Over the course of 2024 I have started to see an uptick here in the past few months, I will say, which is encouraging for investors, for sure, each month, I'm looking at all of the renewal rates personally, to kind of look at that, engage the market. And like you said, it really is helpful. I mean, yes, we have all the tools, Zillow, rentometer, all these things, but there's nothing like just our own data of seeing, hey, what's the house across the street renting for? You know, how long did it take for that to rent and incorporating that into our data. And right now, our houses are moving at a faster pace on the leasing tip, which rent increases tend to follow that    Keith Weinhold  24:30   when it comes to optimizing rents, a lot of that coming back to reducing vacancy time. There are a number of strategies that one can employ now it's not with you guys, but I have a single family rental home in another market, and one promotion that that manager is running and encouraged me to participate in is a 50 inch flat screen TV having that and giving it away to the tenant. Somehow, that only costs $250 so I decided to do that. At for a vacancy that I have there in that market. Now, some investors might say, you know, why am I buying TVs for a tenant? I'm already providing them with a place. If the rent is 1500 bucks, a $250 TV only costs five days of vacancy, and that helps me reduce that vacancy period. Might even make a tenant want to stay longer, so sometimes you got to be thinking about how your tenant thinks, and you can come up with inventive ways to reduce vacancy. Do you have anything like that, any small concession that you've offered or have needed to offer in either market?   Terry Kerr  25:33   Well, we haven't done anything like that, Keith, but what we do like to do, and Matthew mentioned this earlier, is as great tenants tend to refer other great residents, and so we have a referral bonus that we pay out to our residents that refer other folks to us, and that does not come out of the pocket of our investors, that comes out of our pocket, because it's our job to make sure that We rent these properties as quick as we can to qualified residents.   Keith Weinhold  26:04   One thing that I've liked about Memphis, which few markets have, is that it's embedded within renter culture in Memphis, since it is such a renter city, that renters travel with their appliances, like the refrigerator, in their stove, in their dishwasher, which always seems crazy to me, so you're not providing those appliances. It seems like that fact alone might help with resident retention in Memphis. They're just less likely to move when they have more stuff to move.   Matthew Vanhorn  26:35   Yeah, it's really true. Yeah. And the longer people stay, the longer they tend to stay as funny as that sounds. And yeah, that's something that we found even in our new construction homes where we do provide the appliances we've been finding in many instances, still the residents are coming with their own appliances. And so we're storing our appliance, our brand new appliances, in our warehouse.   Keith Weinhold  26:58   Wow, yes, that's just something that you don't see in other places. And when it comes to retention, we're interested in maintaining the property like you talked about being proactive with are there some other things you do to help ensure that the maintenance expenses stay lower throughout the lifetime of that investor ownership? How do you approach that?   Terry Kerr  27:16   It really starts with doing a full blown rehab, right? So every once in a while, you know, we'll have houses that, you know, have some age on the components. But when we do a rehab, everything is brand spanking new, like a new roof, gut, the kitchen, got the bathroom, you know, all new electrical, all new plumbing, all new HVAC, a new water heater the whole nine yards. So it starts there, and then when a property turns over, we go into the property, and we are looking for safe and clean, right? So we want to make sure to keep the water out. We want to make sure that everything is safe and the property is tip top and super clean. Fortunately, the folks that are maintaining the houses for our investors. The technicians are the same technicians that did the renovations on the property, right? And it's the same materials. Yeah, it's like, we have an assembly line and a junky house jumps on the assembly line, and we rip everything off, and all the same materials jump back on the house. So we're able to keep costs low because of that, and also because the labor that we end up having to pay the technicians typically is a lot less than normal, because they're used to working on the same water heater, the same HVAC system, you know, the same furnace, the same dishwasher. So our volume model kind of helps with that.   Keith Weinhold  28:39   Oh, if you were listening closely, yes, what a huge efficiency that can be. You fellas, have any last thoughts about efficient property management, since that's what you've led for more than 13 years, Matthew,   Matthew Vanhorn  28:51   I resonate with what you said about how many investors overlook vacancy costs when properties turn over. And so I think it's just getting your rents right on the money, maybe just a little below, can actually drive returns, as opposed to maybe trying to get an extra 25 bucks more, which takes you three weeks longer to rent. You actually did not come out ahead in that, in that scenario, Keith   Keith Weinhold  29:14   today, with inflation, a $25 difference, I mean, we're down to what 12 hours of vacancy is, really how we're talking about there Property Management turning a passive income into an active lifestyle since forever. That's what they do. Property managers are the people that have never met a maintenance issue that waited until business hours. So that's why I'm grateful that my managers do what they do for me. That's what we're talking about today. More when we come back with Terry Kerr and Matthew Van Horn of mid south homebuyers, I'm your host. Keith Weinhold   Keith Weinhold  29:45   if you're scrolling for quality real estate and finance info today, yeah, it can be a mess. You hit paywalls, pop ups, push alerts, Cookie banners. It's like the internet is playing defense against you. Not so fun. That's why. It matters to get clean, free content that actually adds no hype value to your life. This is the golden age of quality email newsletters, and I write every word of ours myself. It's got a dash of humor. It's direct, and it gets to the point because even the word abbreviation is too long, my letter takes less than three minutes to read, and it leaves you feeling sharp and in the know about real estate investing, this is paradigm shifting material, and when you start the letter, you'll also get my one hour fast real estate video course, completely free as well. It's called The Don't quit your Daydream letter. It wires your mind for wealth, and it couldn't be simpler to get visit gre letter.com while it's fresh in your head, take a moment to do it now at gre letter.com Visit gre letter.com    Keith Weinhold  30:56   the same place where I get my own mortgage loans is where you can get yours. Ridge lending group and MLS, 42056, they provided our listeners with more loans than anyone because they specialize in income properties. They help you build a long term plan for growing your real estate empire with leverage. Start your pre qual and even chat with President chailey Ridge personally, while it's on your mind, start at Ridge lending group.com that's Ridge lending group.com   Tom Wheelwright  31:31   this is Rich Dad Advisor Tom wheelwright. Listen to get rich education with Keith Weinhold, and don't quit your Daydream.   Keith Weinhold  31:37   welcome back to get rich education. You've got the pleasure of listening to the voices of America's oldest turnkey real estate provider mid south homebuyers based in Memphis, Tennessee, and some years ago, they branched out to Little Rock, Arkansas as well, just about a two hour road trip west of Memphis. When us as investors buy a property, we've got to be cognizant of the fact that that property swims in an economic ocean, and therefore job vibrancy is, after all, how the tenant pays the rent. So tell us about economic developments in Memphis and Little Rock, because there are some exciting ones.   Matthew Vanhorn  32:24   So yeah, both in Memphis and in Little Rock, we've got the roads, we've got the rivers, we've got the rails, which drives both Memphis and Little Rock as distribution hubs here in the middle of America. And so of course, FedEx famously has their headquarters here in Memphis. Many of your listeners will know it's the largest cargo airport in America. We've had a resurgence of X. AI has actually come to Memphis and built the world's largest supercomputer here in Memphis, and they're actually working hard now on building a second called Colossus two, which is going to be even larger. They're saying it may hold as many as 1 million Nvidia chips, which I can't do that math, but that's a lot of money. And so x AI is has quickly become the second largest taxpayer here in Memphis and in Shelby County. And 25% of those tax proceeds, by the way are going, they're earmarked to go right into that local community beside where the plant is, and all the development is in Little Rock. You know, of course, it's Arkansas's largest city. It's the capital city, and so by nature of that, there are many stable state government jobs there that is a bulwark of the economic development there. There is a actually Fintech startup space is big in Little Rock as well. Lockheed Martin has been doing developments there, so a lot of aerospace development around Little Rock. Folks who look at our homes will also notice that we are in Jacksonville, which is a suburb of Little Rock that's anchored by the Air Force base there in Jacksonville. And there's actually a large munitions supplier there, Sig Sauer, which provides a lot of jobs to the locals there. And our number one, I may have mentioned it earlier, our number one employer in Central Arkansas is actually Baptist Health Medical Center. And just generally speaking, health care workers make up the largest portion of our residents in Central Arkansas. So a lot of great economic drivers that we're seeing bringing renters to Little Rock and and new jobs there. As a matter of fact, not just that, but I noted recently that the cost of living in Little Rock is now 10% below the national average. I think we had a report on our website a few years ago that it was 6% and that's actually. It's only becoming more favorable to live in Central Arkansas.   Keith Weinhold  35:04   You're talking about stable and growing drivers here, AI related businesses and healthcare. Let's talk about those rents and prices. Because really, this is one reason why national investors are so drawn to that area. It's that high affordability and that high ratio of rent income to purchase price. So what sort of rent and price ranges are we looking at in both markets now,   Matthew Vanhorn  35:29   it's not the same as it was when I started here in 2012 Reds have increased and so, you know, average rents around here start around 900 and now we're going up to about 1700 toward the high end there. And you know, the great news is that incomes have increased as well, and so our renters are able to afford this just as well as they were before. Or maybe even better, like I mentioned, cost of living in Arkansas has actually improved. And so what that means is people are actually making more money compared to the rent, even though rents have increased, which I believe is good news for investors, and it's been good news for us as a management company, as I think that contributes to the resident longevity there, once again,   Keith Weinhold  36:17   nowhere in the nation Do we hear enough about increased affordability stories, which is exactly what you have when your income rises faster than your rent, which is a harbinger of being able to increase the rent in the future. Tell us more about the rent in price ranges in both markets.   Matthew Vanhorn  36:35   In Memphis, if you get a two bed, one bath, you can often find that for as low as 808 850, something like that. As you step up into a three bed one bath, that's going to be somewhere between 1000 1200, depending on where you are in the city, there in Memphis, if you're in our new construction homes, those can range between 1395 all the way up to 1850 once again, depending on the size of the construction and the location out in Arkansas, rents tend to be just a little bit higher than in Memphis. So you see the rent starting there around 950 and going up to just under 2000   Keith Weinhold  37:19   and we're interested in that capital price, because a lot of times, investors think about their purchase through that perspective of the ratio of the rent income to the purchase price.   Matthew Vanhorn  37:30   As far as sales price goes, Keith, we started right around $100,000 on the low end, and those can range up to 240,000 thereabouts, on the high end, if you're talking about a new construction, three, two with a two car garage in an appreciating area. You can see that sort of range in Memphis, very similar, very similar. We have some of our smaller rehabs starting as low as 100,000 and going up to about that $215,000 range.   Keith Weinhold  38:04   Now, I would imagine, in the inflationary era that we're still in, that you get investors that call in there, and you do have these robust interactions with investors, where you talk with them on the phone like a human being, and people that say, come on. How can you get a respectable tenant in a single family rehab rental home that only costs $120,000 How do you handle questions like that?   Matthew Vanhorn  38:30   That's the whole job here is explaining that Sure, no where our renters are living. It's the best home that they've ever lived in, and it's it's in a affordable area. It's in an area where their friends live, where you just have workforce, just blue collar, but beautiful neighborhoods where they live. And I mean, they're proud to call these houses their home, and for many, it really is their dream home.   Keith Weinhold  38:55   People mold their lawns. The streets aren't littered with trash. I know where you guys invest. I've been on the streets there with you, checking them out. What percentage of investors finance the property, and how has that changed over time?   Terry Kerr  39:09   I'm going to say that it's probably about 75% finance, 25% cash. A lot of your listeners come with their own mortgage broker. The ones that don't, we have our tried and true mortgage brokers. Interest rates are not 4% anymore, and some folks are are wanting to pay cash, and they do, and some of them will pay cash, and then, you know, plan on refinancing later. But right now, that's probably about 25% cash, 75% finance.    Keith Weinhold  39:36   Yeah, it's interesting to see that direction, since rates did begin to get higher in 2022 you have this robust interaction with investors, but that doesn't only have to be over the phone. You guys are so proud of what you do that you've long offered investor tours. In fact, now you're doing more of those investor tours than you ever have. I believe you're doing 11. In tours per year in Memphis, and five in Little Rock as well.So tell us about that.    Terry Kerr  40:04   I guess it was maybe seven or eight years ago. We're so stoked that everybody wants to buy houses from us, and we've got, you know, a short wait list, and that's awesome, but we want folks to come visit us, and so, you know, we just started offering folks $500 off of the purchase of their first home, if they'll just come visit us. And so we know it's in our best interest to try to get to know our investors on a personal level, and the investors that do come to visit us, and we're able to pull back the curtain and show them, you know how operational efficiency benefits them as investors. I think they appreciate it, and then we do also just kind of like the nerd out on the nuts and bolts of the business. So it's fun to be able to pull that curtain back.   Keith Weinhold  40:48   Now, you don't have to be an investor to come on the tour, either prospective investors or regular investors that are already there can come on the tour. Is the Tour Free? Absolutely. So the tour is free, and you get a $500 credit if you end up purchasing there. Most investors never come physically see the property at all, but you sure can do that, and they make it really easy for you. Well, this is going to help a lot of people, especially when we think about how to manage the tenant and reduce our vacancy time in today's era. Before I ask how our listeners can learn more about you. Do you have any last thoughts at all about anything that we discussed management or properties or tenants or anything else? Maybe I did not think about asking you.   Matthew Vanhorn  41:32   I'll just go back to Keith talking about how well staffed we are here at Mid South. I think that's where we stand. Apart from a lot of our competitors is that we're not just two or three guys in an office here, we have over 100 employees. It takes speed to deliver good service. Service leads to satisfaction. Satisfaction leads to the residents staying. The resident staying leads to stacks of cash for you as investors, and the only way you can do that is if you're staffed up properly. And so that's something that you want to ask if you're ever vetting another property manager, is what does your staff look like? And really understand, can they actually provide the service to their residents and to their investors that they're reporting?   Keith Weinhold  42:17   You have helped more of our listeners than any other provider in the nation, certainly over 100 of them, perhaps hundreds by now. I'm not really sure if listeners want to get a hold of you, what's the best way for them to do that?    Terry Kerr  42:31   Invest at mid southhomebuyers.com   Keith Weinhold  42:34   that's a great starting place for you. And that way you can take a look at properties, get thinking about the market. Learn more about their management and get a hold of them. Terry and Matthew, it's been valuable as usual. Thanks so much for coming out of the show.   Matthew Vanhorn  42:49   Thank you, Keith.    Terry Kerr  42:49   Thank you, Keith.   Keith Weinhold  42:56   Oh yeah. Sharp insights from Terry and Matthew at mid south homebuyers today, waiving their application fee means more applicants, a bigger renter pool to choose from, which either shortens your vacancy time or it's going to get you a better quality tenant. Now, a lot of people, they think that real estate is unaffordable and even impossible, but few make it easier and more affordable than these people. And I think I shared with you before that, an 18 year old guy who I do know and have talked to in person, he bought his first ever rental property from mid south homebuyers. So it's kind of interesting. His goal was to own his first rental property when he was 18, and he closed just in time the day before his 19th birthday. I think he's age 20 now, but because fully renovated single family homes can be bought in a range of about 100 to 220k here, and you will put 20 to 25% of a down payment on that your monthly rent is about eight tenths of 1% of that purchase price. Okay, so that's renovated, and then new builds sell in a range of 200 to 260k rent to price ratios on those are a little lower. They're point seven five or so. Now we are here in an era where mortgage rates are in the low sixes for owner occupied that means you'll pay closer to 7% on income properties. But if you go new build, which is really something I've been suggesting to you for a while, if you can swing it, those rates are as low as five and a quarter percent for qualified buyers here, yes, at these low Memphis and Little Rock prices, they've got a few duplexes usually available as well, renting your residence. It's just something that's sort of in the culture there in Memphis, and that's why they're confident in offering a number of guarantees for investors. They just do things that. That other providers don't do in the rare event that your property is occupied and then it somehow falls vacant during your first year of ownership. Their releasing fee is free. They also have a guarantee that you will cash flow after you close. They have a one year bumper to bumper warranty on the renovations we're talking about from the doorknob to the ductwork, and there's a lifetime 90 day occupancy guarantee. What that means is, if your property were ever vacant for that long, they would start paying rent to you on day 91 but you know what's amazing? It's easy for them to offer that they'll tell you that they've never had to pay out on that, because they've never experienced the vacancy of more than 55 days. Just amazing. And all those guarantees I just told you about that is in writing on their website. So if you want to get a hold of them, there's virtually no one else in the nation that makes it easier and more affordable. I believe that's an email address that Terry gave there. Again, it is invest@midsouthhomebuyers.com their website is, as you might have guessed, midsouthhomebuyers.com that's midsouthhomebuyers.com interestingly, you can even look at their income properties. There some provider websites don't let you do that. And again, they offer free tours, and if you prefer, their phone number is 901-306-9009, this week, you learned some great techniques for reducing your vacancy and being more profitable, as well as a provider that can deliver it for you. Should you so choose? The proverb goes, give a man a fish and you feed him for a day. Teach a man to fish and you feed him for a lifetime. Well, you've got the option of doing either one or both today, until next week. I'm your host. Keith Weinhold, don't quit your Daydream.   Speaker 1  46:59   Nothing on this show should be considered specific, personal or professional advice. Please consult an appropriate tax, legal, real estate, financial or business professional for individualized advice. Opinions of guests are their own. Information is not guaranteed. All investment strategies have the potential for profit or loss. The host is operating on behalf of get rich Education LLC, exclusively you   Keith Weinhold  47:27   The preceding program was brought to you by your home for wealth building, get richeducation.com  

A conversation with longtime multifamily industry veteran, the awesome Liz Ayala, the Administrator, with Valley Village Retirement Community, and a fabulous supplier partner to the multifamily industry, Mo Hussein, the CEO of Balanced Asset Solutions... discussing how renters now expect empathetic same-day communication, the shift to empathy and proactive service, real results like noise and smoke monitoring cutting complaints by 98 percent, and how integrated systems, automation, dashboards, predictive analytics, and RPA help teams work faster while staying human.See omnystudio.com/listener for privacy information.

AI feels like a boogeyman to many operators and marketers — but it doesn't have to be. In this episode, we talk with Charlie Hills, a marketer who studied AI at university and then used it to scale his LinkedIn presence from 2,000 to 160,000 followers in under two years—while working a full-time job. We break down actionable, senior-living-ready tactics: The Human–AI Sandwich: capture ideas with voice-to-text, turn them into a design brief, collaborate with a designer, then use AI to refine—publish fast without losing authenticity. From “How-To” to “How-I”: why personal stories and lived results outperform generic tips (and stick with prospects months later). Consistency that fits real life: why ~3 posts/week can work—and how comments & DMs multiply reach. Hooks & visuals that stop the scroll: bold first lines, clear benefits, and distinctive covers/graphics. Reddit & “parasite SEO”: show up where Gen Z/Millennial adult-children are already asking for advice—and influence what AI answers about your market. Whether you manage one community or a multi-site portfolio, you'll learn how to pair heart with horsepower—be human, use AI—to attract families, build trust, and grow faster.

Overview: In this heartfelt and inspiring episode, Matt Reiners speaks with Sasha Dawn, founder and CEO of Utopia Experiences — the company behind Spintopia, a live, customizable game show platform designed to combat isolation and spark connection in senior living communities.Sasha shares the deeply personal story that inspired her to create Utopia, and how a powerful interaction with a single activities director during the COVID-19 crisis changed her perspective on care and connection. From hilarious cat names to cross-country game show competitions, this conversation blends emotion, innovation, and joy — showing how intentional play can radically improve quality of life for older adults.Guest Bio:Sasha Dawn is the founder and CEO of Utopia Experiences, the creator of Spintopia — a customizable, senior-focused game show platform designed to combat isolation and spark joy in aging communities. Her journey from personal crisis to purposeful innovation has made her a passionate advocate for meaningful engagement in senior care. With a background in entertainment and a drive to create human connection, Sasha leads her team with what she calls “insightful passion and intuition.” Timestamps:01:00 — Meet Sasha Dawn: Game show host, CEO, and joy-giver03:00 — A father's stroke and the phone call that changed everything06:30 — The birth of Utopia Experiences: From grief to innovation08:30 — What is Spintopia? A game show built for senior living10:00 — A cat named McSneezy McSnotfly... and the magic of memory13:15 — Lessons in leadership, learning, and the $4 yellow blazer16:30 — Measuring impact: 75% increase in resident participation19:30 — Cross-community competition and virtual family moments22:00 — How engagement tech can reshape elder care25:00 — A 109-year-old's birthday game show and what's next for Utopia

Would a purpose-driven approach make a difference in how we care for the elderly? When it comes to caring for the elderly, a purpose-driven approach can make a big difference. By creating value beyond profits, we focus on the well-being and happiness of those we serve.  There is no better example of this concept than Chuck Hall's journey. After years of success in the construction industry, he recognized an opportunity to make a meaningful impact in senior care. Chuck's business, Vitality Living, evolved from a fee-for-service model to a vertically integrated structure, providing services that extend beyond basic care.  This transformation underscores the positive outcomes of a purpose-driven approach. Through his leadership, the business shifted focus to not only building facilities for seniors but also providing comprehensive care through a variety of ancillary services.  In this episode of The Greatness Machine, Darius is joined by Chuck Hall to discuss his journey from the construction industry to the senior care sector. Chuck shares how he transitioned from a fee-for-service model to a vertically integrated approach, focusing on providing high-quality care for the elderly. He explains the importance of conscious leadership, the benefits of vertical integration, and the role of partnerships in building successful businesses. Topics include: Chuck talks about his early entrepreneurial influences Creating vertically integrated system in his senior care business The benefits of having an entrepreneurial mindset Chuck looks back working for Turner Construction in New York City How failure served as a catalyst for Chuck to start his own business Chuck explains the value of co-investing in projects Recognizing the strengths and weaknesses of your business partners And other topics… Sponsored by: Brevo: Head over to brevo.com/greatness and use the code greatness to get 50% off Starter and Business Plans for the first 3 months of an annual subscription. Indeed: Get a $75 sponsored job credit to boost your job's visibility at Indeed.com/darius.  Shopify: Start your $1/month trial at Shopify.com/greatness.  Connect with Chuck: Website: https://www.vitalityseniorliving.com/  LinkedIn: https://www.linkedin.com/in/charles-hall-53a259/  Instagram: https://www.instagram.com/c4build/  Connect with Darius: Website: https://therealdarius.com/ Linkedin: https://www.linkedin.com/in/dariusmirshahzadeh/ Instagram: https://www.instagram.com/imthedarius/ YouTube: https://www.youtube.com/@Thegreatnessmachine  Book: The Core Value Equation https://www.amazon.com/Core-Value-Equation-Framework-Limitless/dp/1544506708 Write a review for The Greatness Machine using this link: https://ratethispodcast.com/spreadinggreatness.  Learn more about your ad choices. Visit megaphone.fm/adchoices

Keith discusses the rising cost of the American dream, now estimated at $5 million, due to inflation and housing prices.  He highlights the affordable housing crisis, with more Americans living in RVs and homelessness up 18% since last year.  The NAR's "Best Week" report highlights the benefits of buying during this time, including lower prices and more favorable terms. Resources: IMPORTANT: GRE mobile app listeners - Switch to listening to the podcast on the  Apple Podcasts or Spotify app, as the dedicated GRE mobile app will be discontinued at the end of the month. Check out the free video course on real estate investing at getricheducation.com/course. Show Notes: GetRichEducation.com/575 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  1-937-795-8989 to speak with a freedom coach Will you please leave a review for the show? I'd be grateful. Search “how to leave an Apple Podcasts review”  For advertising inquiries, visit: GetRichEducation.com/ad Best Financial Education: GetRichEducation.com Get our wealth-building newsletter free— text ‘GRE' to 66866 Our YouTube Channel: www.youtube.com/c/GetRichEducation Follow us on Instagram: @getricheducation Complete episode transcript:   Keith Weinhold  0:01   welcome to GRE. I'm your host. Keith Weinhold, the American dream now costs $5 million learn just what that will mean for you. The beauty of 50 year mortgages, then after 11 years, I share the most depressing thing I've ever said on the show today on get rich education.   Keith Weinhold  0:26   You know, most people think they're playing it safe with their liquid money, but they're actually losing savings accounts and bonds don't keep up when true inflation eats six or 7% of your wealth. Every single year, I invest my liquidity with FFI freedom family investments in their flagship program. Why fixed 10 to 12% returns have been predictable and paid quarterly. There's real world security backed by needs based real estate like affordable housing, Senior Living and health care. Ask about the freedom flagship program when you speak to a freedom coach there, and that's just one part of their family of products, they've got workshops, webinars and seminars designed to educate you before you invest. Start with as little as 25k and finally, get your money working as hard as you do. Get started at Freedom family investments.com/gre or send a text now it's 1-937-795-8989, yep, text their freedom coach, directly. Again, 1-937-795-8989,   Corey Coates  1:39   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  1:55   Welcome to GRE from Norwich, Connecticut to Norwich, North Dakota, and across 188 nations worldwide, you're listening to get rich education. I'm Keith Weinhold. You probably know me by now, but if you're new, I am an active member of the Forbes real estate Council. You can see my work in the USA Today. And of Paramount import, I am an active real estate investor. We're talking about America's top shaved mammal on a microphone here, but suffice it to say, this mammal has at least shaved just how can this slack jawed mammal persist in this environment? Well, I don't know, but I've been doing it here for more than 11 years now. More on that later. This is episode 575, and each episode's release is a bigger deal than releasing the Epstein files. Today is no exception, although today's show release will get fewer people in trouble than the release of the Epstein files. Speaking of people in trouble. It is the middle class. It's the average American and the average Canadian too, because it now costs $5 million to fuel the American dream. But yet, at the same time, hordes of people are now going the other direction, and they're getting poorer. The affordable housing crisis that we've talked about here seems to probably still have not reached its crescendo. Or perhaps, if you know music, it's the opposite a diminuendo. Things are getting to a low point. How bad is it? Getting well priced out of a permanent home. More and more Americans are living full time on RVs, not like nice, fancy RVs either. Beaters. 486,000 Americans are now estimated to live in RVs because they are out of options. And the more soul crushing part of this is that that number has more than doubled just since 2021 I've got two minutes of astonishing audio footage of this to share with you shortly about the RV living homelessness is up 18% Since last year, that figure is sourced by HUD. HUD has the best stat set on homelessness, and that's a problem that's increasingly visible in your own city, more likely than not. And you know, I have personally gotten into more than just surface level chats casually with food servers and baristas, just these quick chats with them. And you know what they divulge to me, that they're living in their car. Yeah, I'm not probing and asking about that sort of thing, but they just share that with me, yeah, food servers and baristas that I just met. They will often tell me that they're living in their car within five minutes of chatting with them, and when they do that, by the way, it also makes me wonder if they're trying to get me to feel bad for them, and they're freely telling me that just to get a tip from me. Well, today, mobile homes are even being coveted. I mean living in a trailer park that is affordable housing. We covered that on last week's show now the real estate company Redfin and Ipsos, they conducted a survey of more than 4000 US homeowners and renters, and they asked respondents about the struggle to afford housing. And it was astounding to learn that to string together a life where they have stable housing, how people are doing all these things, they're delaying having children, they're getting rid of their pets, and some are going through the discomfort of living with an ex spouse just to have affordable housing, as far as what is now almost half a million Americans living full time on RVs and growing since they can't afford a home. NBC covered this, and it is sad. Let's listen into just how squalid the living conditions are, quickly profiling two people as this reporter goes on their tiny RVs. I mean, as you listen to this, okay, keep reminding yourself, keep telling yourself this is America today. And as you'll see, this isn't even in a high cost part of the nation that we're about to profile here again, tell yourself this is America today. Well, this NBC field reporter gets shown the insides of two different RV units by two separate owners, each living by themselves, first a man and then a woman. This is about two minutes in length    Speaker 1  6:53   for Gus Francis. This is home a 20 year old camper he bought for $5,000 parked in an RV lot in Graysville, Tennessee, just north of Chattanooga. I got all my rosaries for protection everywhere. Books, books, books. now retired, he worked for decades as a commercial diver and hoped to live closer to his widowed mother, but when he sought a more conventional home, I just can't see how people with their normal job making 15 bucks an hour can afford an apartment without multiple roommates. Meals are made in the microwave, the stove unused for fear of a gas leak. Right next door is Debbie Williams. She sold her house in Kentucky to be closer to her grandchildren, but housing prices near Chattanooga increased by almost 50% since 2020 apartments are like about 1200 a month, but then you got your utilities to pay. This is permanent, plus it include is like 550 a month includes electric water, saving over everything. It includes everything. Debbie works nights, helping adults with disabilities, and says she likes her setup, even if the exercise bike doesn't fit inside. Okay? I like my shower. It's really nice. And then my bedroom, Debbie and Gus now among the nearly half a million people in the US living in RVs full time. I sometimes thought, Man, if I could have saved more money in the past. But what it was is, I don't blame myself, either, because I raised four kids with no child support, despite the tight quarters, plenty of room to build a community that matters. Ellison Barber, NBC News, Graysville, Tennessee   Keith Weinhold  8:46   gosh, cramped and modest conditions there again. Tell yourself this is America today, and see, here's the thing. From all outward signs, these two people profile. They're not substance abusers. They're not criminals that can't get a job. These are American workers that have been productive people throughout their lives. The first guy, Gus said he worked for decades as a commercial diver, and that part of Tennessee, it's not a place in the nation where the cost of living is exorbitant, either the crux of the problem here is not just the wave of inflation that started in 2021 the essence of it is the fact that inflation has outpaced wage growth. Will you ever get to having a $5 million net worth? Because that's what it takes to live the American dream today. Now, a while back, I told you how, if you amass $5 million really that's the number, that's the threshold where you could probably stop working and just invest such that you could live off it forever. But inflation. Changes that and it keeps upping that number. Well, since then, Investopedia recently came up with this $5 million price tag that's just for living the American dream in today's dollars. Let's look at what that really means, and then we'll add up the spending categories. This is really interesting. All right, the definition of the American dream. What that means is owning a home, raising two kids, retiring comfortably, and maybe throwing in an annual vacation or two. So a nice life, for sure, but nothing extravagant and okay, yes, there is this other angle of like, Money cannot buy the best things in life, and that's true. There's a lot to be said for that, but this is not a relationships in a dating show, okay? So that's why I'm covering the financial angle here, and later today, I'll tell you how much the typical American makes throughout their lifetime, which is much less than 5 million bucks. But to get to that exact $5 million total, which is the least that you now need in net worth, the estimated lifetime costs of eight milestones most often associated with a dream were added up by Investopedia. And now, of course, everyone's dream is different, and housing costs differ nationally. But, I mean, this is pretty reasonable. Here they are. This is how much it takes for each of them today. And I'm doing some rounding retirement, over $1.6 million that's what it takes now. Healthcare, 414k this is all spent over the course of your lifetime, a wedding 38k And I hope that is wedding singular, not weddings plural, owning a home, 957k raising two children and paying for college that costs. 876k and then owning a new car, that is another 900k Yeah, that sounds like a lot, but that will include costs of financing and insurance and depreciation on cars throughout your life, and then a yearly vacation is 180k throughout your life, and pets, 39k All Right. There it is. That is the $5 million total for the American dream. And again, that is only in today's dollars. Inflation will, of course, make all of these future costs run up. All right, housing is really the biggest part of the dream. I mean, second to retirement anyway, all right. Again, the lifetime cost of housing, like I said, is 957k just a year ago, it was 930k okay, well, the national median list price of a single family home is about 430k I guess that makes sense. Most people live in multiple homes throughout their lives. Well, the price per square foot is up 50% just since 2019 that is what is pricing people out. That is what is making people become your renter instead of a homeowner. Well, this $5 million required for the dream, that is why more people are homeless or more people are living in RVs. This means that the demand for the product that you're providing to the marketplace affordable housing, that demand is considerable, and that demand is durable, and the median lifetime earnings for one American with a bachelor's degree is only $2.8 million. All right, so that's just over half as much as it takes to live the dream. But here's what's appalling. Are you ready? Here we go. This could be the most depressing and concerning stat you've heard on this show, maybe one of the most depressing and concerning in your entire life when you really think this through. All right, now, what do you think of as sort of a model for someone that is stable? How about both married and a homeowner? I mean, yeah, they're two big markers, married and home ownership that is foundational stuff when your kids grow up to be adults, if they become married in a homeowner. I mean, come on, who would be disappointed with that? That would probably make you feel proud and fulfilled. I mean, the future of the nation that is children and stable household formation material, right there. Well, by age 30, how many people do you think are married in a homeowner today, and how has that changed over time? What do you think this is the percent of 30 year olds who are both married and homeowners in the US? Right back in 1950 it was 52%.  today Okay, it is just a quarter of that. Only 13% of American 30 year olds are married homeowners today. Gosh, is that appalling? Or what? I mean, it doesn't exactly give you hope for the future, since Owning a home is a key pillar of the American dream, then the best thing that our local, state and federal lawmakers can do is to make it easier to build new housing. That is one of the most depressing stats I gave in 11 years of doing the show, probably the most depressing another thing we can do is not protest or block new development, no nimbyism.    Keith Weinhold  15:45   Now, earlier this year, the White House announced that they are considering declaring a national housing emergency. In fact, you saw me put a link to that in the section of our newsletter that we call the five, though we haven't seen a national housing emergency declared yet. If we do it all, the motivation behind it is largely to make housing affordable. One piece that's been floated out there is the introduction of a 50 year mortgage so that way mortgage payments are spread out and made lower than they are with the most popular mortgage in America today, by far, the 30 year fixed rate mortgage. Now, I wouldn't say that a 50 year mortgage is eminent and is about to happen. We can't say that, but it could be creeping closer. I mean, a 40 year mortgage that is already more of a thing. You've got 40 year HUD loans and 40 year DSCR loans both already here for residential property. We do know that buyers buy property more so based on a payment than they do the overall price of the property. Now look, I'll tell you if I could somehow magically snap my fingers and convert all of my 30 year mortgage loans over to 50 year loans. Oh, I sure would. It would lower my payment and increase my cash flow. Yes, my debt would hang around longer and well, we're right back to, you guessed it, financially free beats debt free. Let's run that comparison on a 300k loan at 6% interest, a 30 year mortgage payment, that is 1800 bucks a month, but on a 50 year loan that would be just 1580 Yeah, $1,800 versus 1580 1580 Well, that is going to boost your cash flow by $220 a month on that property, just by going from a 30 year to a 50 Year at the same interest rate. So maybe not as much of a difference as you thought, but probably worth doing, at least in the mortgage world debt free. I mean that concept of debt free that makes most people, in exchange for that debt free condition, grind and toil and work overtime and lose family time and eat dirt for decades because inflation and all these other forces work against them. And yes, this is just with mortgage debt that I'm talking about here. Of course, some debt is bad, like unsecured, high interest rate credit cards or doing a buy now, pay later, plan on a pizza that you split into four payments. That's ridiculous. And those are the type of debts you've also got to pay yourself. That's not what we're talking about here. In fact, it gets even worse for the mortgage debt free person. That extra $220 you're paying by having a 30 year loan instead of a 50 year loan, that would mean you're accumulating more dollars in home, which are illiquid. And again, 50 year loans don't exist yet, but understanding this concept and this trade off helps you be a better investor. Look, a debt free person can still be broke in the short term if they have a meager income, and they can be broke in the long term if they are not leveraging assets and debt. Being debt free, that is like bragging that you quit the gym so that you'll never pull a muscle again. I mean, you're safe for now, but you're going to be weaker in the long run. Let's use a different example. Let's just run a different set of numbers. Let's say you've got a 400k mortgage at three and a half percent interest, though your monthly payment is 1796 on a 30 year fixed. Some people think, Oh, if I just throw an extra $1,000 a month at this, I'm going to be debt free years sooner. And the truth is, yes, you will save 90k in interest, and you are. Going to own the house outright earlier. But what's the opportunity cost if that same 1k a month went into investments earning even 7% annually, after 15 years, it grows to about 311k   Keith Weinhold  20:16   Well, that is more than three times the interest savings, which again, was only 90k so for some paying off the mortgage early feels like some sort of emotional win, but it is rarely the best financial win. I mean, that is like benching LeBron to save money on Gatorade. I mean, that is a bunch of nonsense. So debt free is the floor. Financially Free is the ceiling. I mean, do you know about those popular call in shows where people are advised to lower their standards, diminish their quality of life, not go on vacations in order to get debt free? Oh, dear. I mean, those shows have got to be screening their callers closely to ensure that no one savvy actually gets on the air. Somebody, hey, how about you? Why don't you get on the air? Get on that show. Ask them some tough questions about getting mortgage debt free. You tell them yeah. Tell them that your ROI on all that equity is zero because home values change regardless of equity positions. Tell them that a home is never paid off because you'll still owe property tax and maintenance and repairs and utilities and maybe insurance and an HOA. Tell them you lost the gift of inflation eating your debt while you sleep. Tell them mortgage interest is often tax deductible. Tell them that their leverage is gone, and all these facts, every one of those I just stated, they're now figuratively not just talking. They're yelling. They're screaming now, because markets of all types are at all time highs. So instead, if you had used those funds to pay off a property, they would have really missed out on earning big returns for years elsewhere, a steep opportunity cost. Suffice it to say, I would love to see the widespread adoption of 50 year mortgages, and I would use them. The other thing that would happen is that it would make home prices rise further, because more people can afford the lower payments to bid up the price. So actually, here's something that I'm wondering about with you. Did you ever have a paid off property, and then realize all of this, and then go and get new financing on it again. Have you ever done that? If you have that would be really interesting. Let us know if you've had a property in a paid off position, realized the vulnerability and the opportunity cost of having all that illiquid equity, and then you went and put debt back on it. Let us know at get rich education.com/contact. That's get rich education.com/contact. Like Ridge lending group knows this when I have chili ridge here, like she and I discussed, you even get the cash chunk out tax free. And here's what else is interesting about this. Just say you know how out in the world of real estate agents, where people are buying and selling property, well, whenever a buyer's agent knows that that listed property is owned by a seller that still has a mortgage on it, well the assumption is that the seller, well, they might be a little more motivated to sell since they have to make mortgage payments on that property that they might not even be occupying anymore. Well, that is backwards. In most cases, you should be more motivated to want to sell a property if it's paid off because you've got all that dead equity in it that needs to be released through that sale. So really, a listing agent should be thinking, this seller has got to sell this property with urgency, if for no other reason, because he or she has lots of equity in that property. That's how to think about it. The world has it 100% backwards. That mindset is 180 degrees from the truth coming up next.    Keith Weinhold  24:25   Did you know that this week? Yes, right here in mid October every year is historically the best week of the year to buy a home. Also, what's it like behind the scenes here on the microphone? I've got that and more straight ahead. I'm Keith Weinhold. You're listening to get rich education,    Keith Weinhold  24:44   if you're scrolling for quality real estate and finance info today, yeah, it can be a mess. You hit paywalls, pop ups, push alerts, Cookie banners. It's like the internet is playing defense against you. Not so fun. That's why it matters to get clean. Mean free content that actually adds no hype value to your life. This is the golden age of quality email newsletters, and I write every word of ours myself. It's got a dash of humor, it's direct, and it gets to the point because even the word abbreviation is too long, my letter takes less than three minutes to read, and it leaves you feeling sharp and in the know about real estate investing, this is paradigm shifting material, and when you start the letter, you'll also get my one hour fast real estate video, course, completely free as well. It's called the Don't quit your Daydream letter. It wires your mind for wealth, and it couldn't be simpler to get visit gre letter.com while it's fresh in your head, take a moment to do it now at gre letter.com Visit gre letter.com    Keith Weinhold  25:55   the same place where I get my own mortgage loans is where you can get yours Ridge lending group NMLS, 42056, they provided our listeners with more loans than anyone because they specialize in income properties. They help you build a long term plan for growing your real estate empire with leverage. Start your pre qual and even chat with President Caeli Ridge personally, while it's on your mind, start at Ridge lending group.com. That's Ridge lending group.com. Hi.   Russell Gray  26:29   This is Russell Gray, co host of the real estate guys radio show, and you're listening to get rich education with Keith Weinhold. Don't quit your Daydream.   Keith Weinhold  26:36   welcome back to get rich Education. I'm your host. Keith Weinhold, there's a lot to look forward to in future months here on the show, new content from me, new prominent guests, the return of some favorite guests, a live event to tell you about and our annual home price forecast show, where I'll also reveal if last year's GRE home price prediction for this year came true or not. I have got to say I have nailed it to the exact percent a few years in a row now. But if you remember, before this year began, I forecast 5% national home price appreciation for this year. We will see how that turns out, but home prices are only up one or 2% year over year so far. Yes, not only do I make the forecast, I actually follow up with the previous years to check the accuracy. Don't you wish everyone did that? Well, it is October, and it's the month where you got to be ready to defend your love of candy corn and the same Americans complaining about inflation also bought a 40 foot skeleton for the front yard. Well, the best time to buy a home, historically, is this week this year. It happens to fall on October, 12 to 18th, as it turns out. Why would that be? It sounds kind of random, doesn't it? Well, the NAR recently reported on this, and this is what they give, a three word moniker, aptly named the best week. That's what they call it, the best week. Now, this applies more to primary residences into one to four unit investment property, but it's a little applicable to apartment buildings too, and this really helps you understand real estate buying, selling and consumer nature. Historically, this week offers the most favorable balance of market conditions for buyers. This is when inventory tends to be elevated. Prices typically dip below their seasonal peak. The buyer competition slows, and just the overall pace of the market becomes more manageable. Again, quote, unquote, the best week this seasonal shift every year, it's influenced by school schedules and even weather patterns. Housing activity typically ramps up in the spring. It peaks in the summer because a lot of families try to move while children are out of school and the desire to settle before the new academic year that's back when you've got the warmer weather and the longer daylight hours, and you got these curb appeal enhancements from Lush summer foliage that also makes spring and summer an ideal time for showings in inspections, that adds further momentum to the summer surge. These sort of things actually matter. But then the calendar shifts into fall, and demand naturally tapers off. Every year you got families with school age children that exit the market, and then the remaining inventory begins to linger longer, and prices respond by dipping below peak levels. And homes tend to stay on the market longer. This happens every year. That makes for conditions that benefit late season buyers. So listings tend to become more plentiful now each October inventory levels, they tend to peak in early fall, and that's why it's about the best time to buy. You have less competition from other buyers, home buyer shopping during again, what is called the best week, you should expect less competition. Properties tend to attract the most viewership per listing early in the spring, and that's when buyers trickle into the market before the inventory picks up. And then the summer ushers in both more homes and more shoppers, and that means that buyers face quite a bit of competition in the summer, so the best week that should offer more time for buyers to deliberate, and it can mean that sellers are more eager to compromise. And the numbers back that up historically that this is the peak week for price reductions. So what can you do if you're potentially in the market? You might want to hit up gre investmentcoach.com and have our coaches connect you with the right income property if that's the right move for you, and doing that is totally free. In fact, most listeners buy their first income property that way. In fact, if you had a good experience with a GRE investment coach, go ahead and tell a friend about it. Now, let's say that you had $1 back in the year 1995 so you've got a green dollar bill in your pocket 30 years ago. All right. Well, what would happen to your dollar if you saved it versus putting it in stocks versus putting it in real estate? What do you think would happen in each of those three scenarios? Let's do it. Let's compare well, because of inflation, your dollar would be worth less than 50 cents if you had saved it, yeah, it would have just 47 cents worth of purchasing power today. Instead, if you had put it in the s, p5, 100, your dollar would have seen some pretty significant growth. It would be worth $19 today. That's how stocks have performed over the past 30 years. But what about real estate? Well, there are so many ways to do it specifically. What if it were a rental property where real estate pays five ways, not just one or two like stock. What kind of return can you expect from real estate? Well, when you add up all five ways, just using historic norms like classic rates of appreciation and a four to one leverage ratio, you get 38% as a total rate of return in year one. And then that rate starts to fall because equity accumulates. And if you're not initiated on that, and it sounds like such a high flying number, you can see my free video course that teaches you this at get rich education.com/course, the most valuable free course you've ever taken in your life. At get rich education.com/course, let's just get conservative and say so many things go wrong with your property that we're going to round that 38% all the way down to 20% per year. Yes, if you're new here, those sound like ridiculous rates of return. Anyone that's listened here for a while instead has been enjoying those rates of return if you bought right? I mean, you have so much more time and money in your life now, but at 20% ROI, your $1 from 1995 would be worth $237 today. Wow, and again, if it were saved under a mattress, it would be worth less than 50 cents, and in the sp5 100, just 19 bucks. This is a simplified way to demonstrate that compound leverage beats compound interest. I mean real estate beats stocks by more than 12x right there and see that's the type of multiplier that you're probably going to need on your money. Since it already takes $5 million to live the American dream, you might very well need $25 million over the next few decades, while the 401 K was created around 1980 the Roth IRA created in 1998 and the GRE podcast was created on October 10, 2014, and I trust that it's had a more positive impact on your life than any of those other vehicles.   Keith Weinhold  34:56   This means that I've released weekly episodes here for. 11 years, never missing a week at all, 52 weeks a year, and we've never replayed an old show either. I am here for you. Integrity means doing what you say you're going to do. Vedran, our sound engineer, has been here with GRE for 11 years as well. That is the team, the duo, that's been bringing you this show. And also, I didn't even tell my team here at GRE this yet, so I guess they'll learn now, the platform business rate just ranked us and awarded get rich education the best of the year, 2025 as a real estate school. Yes, we learned that this award is based on outstanding reviews from real customers, not nominations or votes, but the best of the year award comes from feedback through listeners just like you. Thank you for that, and thanks business rate this show and real estate investing, they are the main things that I do, and I expect to be here for you well into the future. Now, it's sort of funny here, kind of a paradox on the show I talk about income production that's largely passive, yet producing this show at a high level for 11 years here on this side of the microphone is not passive. It is highly active. I got a reminder of this recently when a doctor buddy of mine said he considers starting a podcast on the side. Let me tell you what I shared with him that is probably a terrible idea to launch an ongoing podcast where you'll constantly carve out the time to produce high quality week after week. That is not a side gig. 99% of those scenarios fail. You've got to deliver great new content yourself. You've got to have a network of guests to compliment you. You got to perform research and then cross check your research, because you've got to publish real, true information. You need a reliable editing solution. You need some organizational skills. You're going to need to hire some skilled and specialized assistance in the real estate world. You've actually got to get out into the field and visit cities in person to corroborate your research on the ground and go to in person conferences. I mean, there's a lot to do, but I did tell my doctor friend, you know, the good news is that there are alternatives to starting a show. There are a couple of them. In fact, first, you can do a 10 episode mini series on your area of expertise, host it on YouTube or Spotify and then send that link to clients. Another thing you can do is get yourself booked as a guest on someone else's show, and you'll pay a podcast booking agent to do that one strong guest episode that could do more than 100 of your own episodes ever could. So that's my guidance. In case you know any thought leaders that considered doing that, and what things look like from my view back behind the mic, it is not passive income, although my investing mostly is and another thing, if I've hosted a past guest on the show, and I get feedback from you or other listeners that they're not looking out for your best interest, or they don't want to do the property rehabs that they promised. Well, they are not coming back onto the show. Instead, we move on. I am here to do good and connect you only with providers that are doing good. Another show related announcement, and if you listen here each week through the get rich education mobile app. This is really important if you're listening to me right now on our dedicated mobile app, the hosting platform terminates at the end of this month, so you're going to have to listen in a different way. Go to either the apple podcasts app or the Spotify app and search get rich education to keep listening that way, you'll keep learning, stay motivated and never miss an episode of my incomprehensibly slack jawed vocals, profligate and unrepentant. Again, if you're listening to me right now on our dedicated GRE mobile app, the hosting platform terminates at the end of this month, you'll have to listen in a different way. Go to either the apple podcasts app or the Spotify app and search. Get rich education inside those apps in order to keep listening after this month, until next week, I'm your host. Keith Weinhold, don't quit your daydream   Speaker 2  39:41   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 and. Will see exclusively.   Keith Weinhold  40:09   The preceding program was brought to you by your home for wealth. Building, get richeducation.com.  

On this week's episode of Multifamily Mastery, John Casmon interviews Victor Collazo. Victor breaks down his 50–100 unit, Class B buy box in the Dallas suburbs and why he prefers “boring and stable” markets over pricier, concession-heavy Florida metros. He explains how taxes, insurance, and new-build amenities compress value-add spreads in West Palm Beach, why his team is expanding into senior living, and how a pull-based, education-first approach helped him go from raising zero to consistently filling allocations. Victor also shares a primer on data centers and why he's researching them as AI-driven infrastructure demand grows. Victor CollazoCurrent role: Co-founder, Extraordinary Assets Based in: West Palm Beach, FloridaSay hi to them at: https://extraordinaryassets.com | LinkedIn | YouTube This is a limited time offer, so head over to aspenfunds.us/bestever to download the investor deck—or grab their quick-start guide if you're brand new to oil and gas investing. Get 50% Off Monarch Money, the all-in-one financial tool at www.monarchmoney.com with code BESTEVER Join the Best Ever Community  The Best Ever Community is live and growing - and we want serious commercial real estate investors like you inside. It's free to join, but you must apply and meet the criteria.  Connect with top operators, LPs, GPs, and more, get real insights, and be part of a curated network built to help you grow. Apply now at ⁠www.bestevercommunity.com⁠ Podcast production done by ⁠Outlier Audio⁠ Learn more about your ad choices. Visit megaphone.fm/adchoices

#ThisMorning | 7 #Trends in #Senior #Living | Michele Holleran, DeArment Consulting | #Tunein: broadcastretirementnetwork.com #Aging, #Finance, #Lifestyle, #Privacy, #Retirement, #Wellness

Rebecca Adelman, a trailblazer at the crossroads of law, leadership, and legacy, joins Matt Reiners for an in-depth conversation about the human side of risk management in senior living. Drawing on 30+ years in litigation and personal caregiving experiences, Rebecca shares how misaligned expectations—not just adverse events—often drive litigation. She introduces Guide Path, her certification program redefining how communities engage with families, reduce risk, and enhance care.If you're a senior living leader navigating complex challenges, this episode delivers a new lens—and a roadmap.Rebecca Adelman, Esq. is a nationally recognized attorney, risk strategist, and founder of the Adelman Firm and Guide Path, a certification program focused on expectation alignment in senior living. With over 30 years in healthcare litigation, she's also a caregiver, educator, and passionate advocate for intergenerational care. Her philosophy of “Work-Life-Being” shapes her mission to drive human-centered change across the care ecosystem. Timestamps:01:00 — Introduction to Rebecca Adelman: attorney, risk strategist, and founder of Guide Path03:41 — Rebecca's entry into senior living through healthcare litigation06:52 — The personal turning point: caregiving for her father09:50 — What drives lawsuits in senior living (it's not what you think)12:56 — Designing Guide Path: expectations management as risk mitigation14:27 — What proactive alignment looks like in practice18:28 — Resident and Family Insights Survey: where risk really lives21:41 — How unmet expectations fuel litigation23:27 — What sets Guide Path apart from other certifications27:40 — Rebecca's life philosophy: Work-Life-Being33:33 — Real-world impact: from personal relationships to global reach38:23 — Aligning training with compliance and federal regs41:29 — Rebecca's lens on leadership in male-dominated spacesLinks:Adelman Law FirmGuide PathParasol Alliance

In this episode, host Marianne Sciucco and acquisitions editor Sheila Luna sit down with Shari Ross, a senior healthcare professional and author of “Senior Living Made S.I.M.P.L.E.: A Real World Guide for Navigating Senior Care for Your Loved One.” Shari's expertise spans her professional experience in senior living communities and her personal connection to dementia through family. This conversation explores the emotional, practical, and logistical challenges families face when transitioning loved ones to senior living, with a focus on memory care, language barriers, and advocacy. In this episode: Shari discusses her background as a senior healthcare specialist, working in senior living communities, and her personal caregiving experience with her grandmother.She provides an overview of her new guide, “Senior Living Made S.I.M.P.L.E.,” and how it can help make senior living transitions easier for all.The book's conversational, relatable, and honest approach to guiding families through the overwhelming senior care landscape is discussedShari's “S.I.M.P.L.E.” framework is explained: Support, Information, Matching, Preparation, Letting Go, Engagement.In addition, Shari reframes the “new” memory Care CommunitiesThe importance of language—using terms like “community” and “neighborhood” to foster warmth and reduce stigma.Shari provides pointers on transitioning to Community LivingWhy adult children and spouses often find themselves overwhelmed and unsure where to start, and how to approach those milestones.The need to tour and “feel the vibe,” prioritize care and community over aesthetics.The power of social engagement, good nutrition, and routine in enhancing quality of life. Aging in Place vs. Senior Living The hidden burdens and risks of managing aging at home—care coordination, safety concerns, and social isolation.Shari's research: Most homes aren't designed for aging adults; successful “aging in place” requires massive support.Community living can provide more safety, social interaction, and peace of mind for both loved ones and families. Buy Shari's book here Learn more about Shari Ross and her resources and services at seniorlivingmadesimple.com. Key Quotes: “Memory care is not a punishment; it's a lifeline.”“Independence without a support net is just a slow-motion disaster.”“Be observant, be vocal, and trust your gut.” Connect with AlzAuthors: Subscribe to the PodcastJoin the NewsletterFollow on YouTube About the Moderator Marianne Sciucco About the Podcast  AlzAuthors is the global community of authors writing about Alzheimer's and dementia from personal experience to light the way for others. Our podcast introduces you to our authors who share their stories and insights to provide knowledge, comfort, and support. Please subscribe so you don't miss a word. If our authors' stories move you, please leave a review. And don't forget to share our podcast with family and friends on their own dementia journeys. We are a 501(c)(3) charitable organization. Our ongoing work supports our mission to lift the silence and stigma of Alzheimer's and other dementias.  Ideas and opinions expressed in this podcast belong to the speakers and not AlzAuthors. Always consult your healthcare provider and legal and financial consultants for advice on any of the topics covered here. Thanks for listening. We are a Whole Care Network Featured Podcast Proud to be on The Health Podcast Network Find us on The World Podcast Network and babyboomer.org Want to be on the podcast? Here's what you need to know    We've got merch! Shop our Store

Are You Missing Out on Real Estate's Best-Kept Secrets? Imagine investing in properties where: Tenants fix their own roofs You can boost income with a few tech upgrades Most investors are too scared to even look This episode reveals two underground real estate niches that could change your wealth strategy forever: Mobile Home Parks and Parking Lots Special Guest: Kevin Bupp, an investor with over $1 BILLION in real estate transactions under his belt shares how everyday investors are building wealth in places others overlook. Grab your FREE real estate investment white papers and unlock hidden wealth strategies at InvestwithSunrise.com  Resources: Text FAMILY to 66866 Call 844-877-0888 Visit FreedomFamilyInvestments.com/GRE Show Notes: GetRichEducation.com/574 For access to properties or free help with a GRE Investment Coach, start here: GREmarketplace.com GRE Free Investment Coaching: GREinvestmentcoach.com Get mortgage loans for investment property: RidgeLendingGroup.com or call 855-74-RIDGE  or e-mail: info@RidgeLendingGroup.com Invest with Freedom Family Investments.  You get paid first: Text FAMILY to 66866 Will you please leave a review for the show? I'd be grateful. Search “how to leave an Apple Podcasts review”  For advertising inquiries, visit: GetRichEducation.com/ad Best Financial Education: GetRichEducation.com Get our wealth-building newsletter free— text ‘GRE' to 66866 Our YouTube Channel: www.youtube.com/c/GetRichEducation Follow us on Instagram: @getricheducation Complete episode transcript:   Keith Weinhold  0:00    Welcome to GRE. I'm your host. Keith Weinhold, talking about first mobile home park investing and then investing in parking lot assets. What makes them profitable? What gets investors excited about mobile home parks and parking lots? What are the risks and what's the future of both of these real estate asset classes? All with a terrific guest today on get rich education.   Keith Weinhold  0:28   You know, most people think they're playing it safe with their liquid money, but they're actually losing savings accounts and bonds don't keep up when true inflation eats six or 7% of your wealth. Every single year, I invest my liquidity with FFI freedom family investments in their flagship program. Why fixed 10 to 12% returns have been predictable and paid quarterly. There's real world security backed by needs based real estate like affordable housing, Senior Living and health care. Ask about the freedom flagship program when you speak to a freedom coach there, and that's just one part of their family of products, they've got workshops, webinars and seminars designed to educate you before you invest. Start with as little as 25k and finally, get your money working as hard as you do. Get started at Freedom family investments.com/gre or send a text now it's 1-937-795-8989, yep, text their freedom. Coach, directly. Again, 1-937-795-8989,   Corey Coates  1:40   you're listening to the show that has created more financial freedom than nearly any show in the world.This is get rich education.   Keith Weinhold  1:56   Welcome to GRE from Burlington, Vermont to Burlington, Washington and across 188 nations worldwide. I'm Keith Weinhold, and you are inside get rich education. We are all firmly in the fall season. Now, autumn, if you prefer. And as we often do, we're discussing residential real estate investing today, but it's two different and distinct niches within that, and I guess they both have to do with wheels, as it turns out, mobile home parks in the first part of the show and then parking assets later today. I think there's a compelling future use case for at least one of those two to speak to our international audience for a moment, but this will actually help clarify things for you. If you're a North American too, though it's called a mobile home, well, it doesn't really have that much to do with wheels. There might not be any wheels on it. And if a resident lives inside one of these for, say, a decade, well then it's probably going to remain attached to that same location on the ground all 10 years. That's why a mobile home is often referred to now as a manufactured home. What it is is it's a factory built residence, constructed on a permanent chassis and then transported to a site. I mean, that's what we're talking about here, and they are a less expensive alternative to traditional homes that have, say, a cast in place, concrete foundation. So therefore, understand, mobile homes are affordable housing, highly affordable housing, and that's really important in this housing affordability crisis. And I've talked quite a bit about that on the show, and the meager national supply of that all types of affordable housing, they are recession resilient. I mean, that's just one reason why we love affordable housing types here at GRE where we're often buying rental property just below an area's median price. You know, people think of mobile home parks MHPS, that they're all crime ridden and that there are slumlords. But that is not true in every case. There are actually nice ones. If you're an MHP investor, you often only own the land beneath the structure, and not the mobile home itself. The resident owns the mobile home itself. So therefore, if there's a leaky roof or a window needs replacement, or flooring needs replacement, that is on the resident to fix, not you. MHP dwellers, they often don't have to pay property tax, though, because, like I said, they don't own the land. The landlord, or the community, therefore, is the one that has to pay the property tax. So there's some thoughts on mobile home parks for you, parking asset, real estate that's still settling into its post pandemic pattern with Return to Office mandates that aren't really fully matured yet. We're still settling in and seeing how that is going to look. And then when it comes to parking lots, you got to wonder about its future. When you consider the proliferation of autonomous cars, will that make parking lots obsolete? I'll have our guest address that longtime GRE listeners, you might remember episode 13 of this show, yeah, almost 11 years ago, that episode was about how autonomous cars will affect your future and your real estate and the very need for parking lots and a lot of what I discussed there in early 2015 that is beginning to come true, but this autonomous car adoption that is way slower than a lot of people thought. I mean, most Americans, they still have not been inside an autonomous car at all. A lot of people are still saying that they don't trust that that should change soon. But as for now, I'm just guessing that fewer than one in 10 Americans have been inside an autonomous car, probably quite a bit less than that. Today's terrific guest has over $1 billion in real estate transactions under his belt. This should be interesting. He is a specific investor in both mobile home parks and parking assets.   Keith Weinhold  6:26   Today's guest is a seasoned real estate investor entrepreneur, and he's a prominent voice in the space, because he hosts the real estate investing for cash flow show. He's built a strong reputation as an expert in two niches that have less competition than some other investments, and we'll discuss those two today. They are mobile home parks and also parking asset investments too often overlooked yet pretty profitable niches, and he and I have a lot in common. I'm on the Forbes real estate Council. He is on the Forbes Technology Council. He and I are both native Pennsylvanians. It's been quite a few years. Hey, welcome back to GRE it's Kevin Bupp.    Kevin Bupp  7:06   Hey, Keith, thanks for having me back. And yeah, excited to be here, my friend, and excited to finally get caught up. When you referenced that, it was nearly eight years since we last spoke. I was taken back a little bit because A lot's happened in past eight years.    Keith Weinhold  7:21   I know that's wild with where things are at. People didn't even know the meaning of the word pandemic when you were last here on the show, Kevin, let's talk about really the case for mobile home parks. I know they can be a strong, cash flowing asset once people are really dialed into them. I think what's interesting is, since you were last here on the show, really, from the pandemic on, it's been a well documented national story where lay people just know about how the supply of housing just is not adequate in order to meet demand, and what that usually means, just talking about the single family space is, of course, they're building, but they're not building fast enough to keep up with population growth and housing demand. But what's so compelling about mobile home parks is, I mean, they're barely even building them anymore, like they are contracting in supply in a lot of areas. So tell us more about the compelling case for mobile home parks.    Kevin Bupp  8:16   Yeah, well, you had a big one. You know? It's an asset class that has a diminishing supply, right? We can get into the reasons behind that. But, you know, just from a high level perspective, one of the other factors as it relates to, you know, available homes, available housing for the growing population, is that while they are building stick boat homes, they're not fulfilling the needs of those that actually need affordable housing. So there's not a lot of the average working household can't necessarily afford the starter home any longer, and so mobile home parks are unique. I truly feel they're the best vehicle to help us fill this void of housing, affordable housing that is really needed throughout the entirety of the country. I mean, there's very few markets in this country that are still affordable. There's some places you can still go buy. You can probably go to Flint, Michigan, buy a home for 50 or $60,000 but generally speaking, I think the median home price today, I think it's crested over 400,000 I don't have the exact number, but I do believe over $400,000 and the average starter family, or even folks that are, you know, just working two jobs, making 40, $50,000 a year, they can't afford to purchase that type of home, a $400,000 home. And so again, these mobile homes you had mentioned, they're not building mobile home parks any longer. However, they're still building new mobile homes, and it's kind of interesting what's evolved over the past 10 years. The quality of the product is it's like a night and day difference of what it looked like 1015, years ago, of the homes themselves to what they look like today, and what you get for your money. You know, the average single wide that we might be putting into a community, brand new home, 13, 1400 square feet. Someone could come in and for roughly $80.70 $80 a foot, can buy a brand new home that's never been lived in before, that's unheard of, that's absolutely unheard of when you compare it to the average or the median home price across the US today. So it really is kind of the last frontier, and it's typically any market that we're in, if you take the same comparable quality of an apartment complex in the same, you know, area of town, the same school districts, we're typically about 20% less all in cost to actually own your own home, versus that of even renting the comparable size apartment. So it's a very compelling reason for folks that are looking for an affordable place, but not just affordable, but clean, safe and quiet. I mean, like we run very respectable communities, they're in the really good school districts. They're places that folks are proud to live and raise their families, then,    Keith Weinhold  10:22   yeah, that's true. This would really help meet that affordability challenge, another problem that's been so well documented. Talk to us more about what makes mobile home park investing different from investing in single family rentals or even a fourplex or a 20 unit apartment building.    Kevin Bupp  10:40   A lot of the fundamentals are similar, and I would say that it's probably more comparable to that of an apartment complex to a certain degree. Just think of it as a horizontal apartment complex, where units aren't stacked on top one another. They're just layout horizontally more wider than they are tall. But the bigger difference is in most instances, we don't actually own the homes, so the residents own the mobile homes, whereas we as community owners own the infrastructure, we own the land. We own the roads, when the sewer lines, the water lines, the common areas, if it has a clubhouse, if it has amenities, so we maintain and we own all that collective area where the folks basically come and they bring their home, they fix it to the ground, and then ultimately pay a slot rent to have their home there on that premise. And so for us, it's very attractive in that the resident that's in their home, if they have a Roofing Leak, they have a plumbing leak, they have their HVAC system go out. They're not calling us like they enter an apartment complex. It's on them, yeah. So they're homeowners. And a couple other really attractive elements of that that come as a result of having residents that live there, not just renters, is that they're very sticky. And so just like in a standard single family subdivision, where you've got folks that might have lived there for generations, you just reference that your parents literally live in the same house, and so they've lived there a very long time. It is quite common to find residents and even multi generations of the same family that live in our communities. And a couple come to mind. We just celebrated a woman's 50th year of living one of our communities in brendalin. And so you've got sticky resident base. There's not a lot of turnover. And then the last big piece of it that is really attractive us is a homeowner mentality is very different than a rental mentality as far as upkeep. And so you got folks that they plant flowers, they ensure that their units have curb appeal, right? They put flags out, they put decorations out during the holidays. It's a lot more warmth than that of what you might find in a traditional rental apartment complex.    Keith Weinhold  12:26   So what all does the tenant pay for? You mentioned that they pay for the lot rent. What other expenses do they have? How does that look for them?    Kevin Bupp  12:36   Typically, you know, utilities. So they'll have their own individual meter. They'll pay, you know, direct to the utility company, utility provider, water and sewer as well. They'll pay for their water and sewer usage. And that can come in many different forms. Sometimes, where our communities have public utilities, where it's built directly by the utility provider, sometimes it's more of a private system, where we're actually acting and participating as utility provider and building them back for their usage. Really the standard things that you might pay for if you live in a single family home. I think so the areas where it might differ. And honestly, this is really community by community for us, some of our communities, literally, the residents, they pay for the utility use, but outside of that, literally, we mow the grass, we shovel their driveway, we shovel their walkways, we handle all those type of elements, whereas some other communities, the residents we might require that they actually maintain their own grass so they their own grass, so they have to mow it, or hire a a third party vendor to come in and mow it. They might have to actually shovel their own driveway. And a lot of how we run a community really is depend on how it used to be run when we took it over. You know, if it's not broke, we don't fix it. And so a lot of times we don't like shaking things up too much. If they're used to a certain way, we just keep it status quo and continue rolling on of how the prior ownership used to manage it really similar elements of what a folks, an individual living in a single family home, might pay for so very similar.    Keith Weinhold  13:48   Okay, so they pay you the rent for the lot. This puts nearly all the maintenance and repair burden on them. So is there any sort of HOA like body here?    Kevin Bupp  13:58   Not in our community. You do find some communities, and most of these that have an HOA are typically a community that's gone through more of a co op type arrangement to where the actual individuals only like fractionalized share of the community, the residents that live there, and so then they have a the oversight from an HOA that's managing the daily operations, managing the financing, managing the budget, things like that. But in our communities, no, there is not an HOA, I'd say the one other thing that's typically included in lot rent is they don't have property taxes, right? So we own the land, and so the individuals that live in these units aren't paying individual property taxes. A lot of states require that they have a registration fee, just like you do in your vehicle, that they would have to pay on an annual basis. And then most of them have insurance as well. You know they're covering you're carrying homeowners insurance on the actual dwelling itself. Outside of that, it's, again, just pretty straightforward,    Keith Weinhold  14:47   yeah. So here we are in this low competition, low supply niche that we're talking about here we think about communities and nimbyism and building, not in my backyard. ISM oftentimes that's a sentiment that residents of a certain area have, residents say something like, ah, we don't want this new 200 unit apartment building or mobile home park here in our single family home neighborhood, like, that's nimbyism. But in mobile home parks, to me, it seemed like nimbyism is often at a different level. It's at the government or the municipal level, like your town or city, might not want one, because it doesn't generate as much property tax revenue as a new single family neighborhood would. Is that the reality? Kevin,   Kevin Bupp  15:31    that's absolutely the reality. And that's why you don't see new parks getting built. I think last year, ones that I know of, there are about a dozen that were built, many more than that. They're actually shut down, you know, for redevelopment purposes. And so that is absolutely huge part of it. In fact, you know, it's frustrating, because pretty much every municipality across the country the topic of affordable housing, it's on the radar, and it's probably one that is discussed quite often. And in all reality, again, these mobile home parks really would help resolve that challenge at most of these you know, municipalities are the shortage of homes, affordable homes, that they're facing across the country. And so, you know, another big piece of it, you mentioned the tax basis, absolutely, you know, the municipality would make, they'd have much better tax revenue from pretty much anything else that could be built there. And so that's a big barrier. But the nimbyism piece of it, I think a big part of that is it's unfortunate. I think it's getting better over time. There's bad operators in our space, just like they're bad operators in the apartment space, just like there's bad operators landlords that have single family homes that just let them deteriorate over time and don't repair things. Unfortunately, we kind of get lumped all the mobile home parks get lumped in that bad bucket. And so while there's, you know, I always joke and say there's mobile home parks that are on the wrong side of town, wrong side of the tracks, right? You don't want to go to and during the daytime. Well, guess what? There's subdivision, the single family home, neighborhoods that are the same thing, and there's apartments that are like that as well. You don't go anywhere near them. And you've got the middle of the road, right? You've got just the good, hard working, blue collar folks that want to send their kids to good public schools. We've got those communities apartments are that way too single family home subdivision, you got white collar stuff. You got some higher end stuff. Unfortunately, we kind of all get lumped in that bad bucket. That's where the assumption that's made by folks that don't understand mobile home communities have never driven through one. They just assume that it's all, you know, basically, drug, sex, rock and roll, the wrong element that we do not want in our neighborhood. We don't want anywhere near us. It's going to devalue our home prices. And for that reason, you just don't see them getting built. It's unfortunate, but it's the truth.    Keith Weinhold  17:20   Yeah, I'm just thinking about the mobile home park that I drive past most often. It's sort of walled off. There's maybe an eight or 10 foot high wall around it. I don't know if that's something that the municipality erected to sort of screen its appearance off, or something that the mobile home park built, which is my guess as to who built it, but not all mobile home parks look blighted   Kevin Bupp  17:43   absolutely, yeah. And I don't know the case that you just referenced there. I mean, it could be for sound deadening purposes, if it's off of a busy road. It could have been something put up as far as just to kind of shield off so folks that are driving past don't see the community. My guess would be that's probably not the the reason that was built. But in any event, these are, there's, you know, we've got a number of communities, Keith, that if you drove through, and I didn't, if I blindfolded you and you drove in, so you went past the entrance, you went past a sign that said manufactured home community, and I took you down a road, you wouldn't believe that you were actually in a mobile home park. Some of these homes, they're double wide homes, and they look like ranch homes, and so they're actually laid out perpendicular to this, or parallel to the street, and then they have two car site built garages that are attached to them via breezeway. So they look like your traditional ranch style home, but they're absolutely 100% mobile homes that could be moved if you wanted to move them, and for a fraction of the price of what a neighboring single family home might sell for. So there's all different qualities. They all come in different shapes and sizes. But to my point earlier, some of these communities, they're not even affordable. There's actually, there's down here in Florida, we've got what we call lifestyle communities. It's very common out in Arizona as well, where it's a lot of times a second home for snowbirds, you know, retirees that want to come down and want to live an active lifestyle. You know, they want to have two swimming pools. They want to have an activities director. They want to have, you know, shuffleboard and pickleball courts and tennis courts, and they want to live this lifestyle. And those units are anything but affordable. In fact, there's many. There's a community down the road for me that, you know, their lot rent is $1,200 a month, and so you factor that in with probably a house payment. And you know, you might be looking at 2000 to, you know, $2,300 a month, all in for the house and the lot rent. And so not necessarily in the affordable scheme of things, but they come in all shapes and sizes and again, unfortunately, we just get lumped into that bad bucket. It's unfortunate because I do think that we could really help start making a dent in this affordable housing crisis. I don't how it's going to happen any other way. I really don't, because we can't build affordable products at this point in time. It's not possible    Keith Weinhold  19:37   a posh an exclusive mobile home park there that you're referencing in Florida. As paradoxical as that sounds, tell us, Kevin, how that really works, because I know you help investors get in to mobile home parks. Does this mean an investor owns a full Park? Or I wouldn't imagine you're just doing it at the level where you just own one lot and then have One dweller pay you the lot rent. So tell us about how it works from the investor angle.    Kevin Bupp  20:05   We have fund structures that we typically roll out through sunrise capital investors and any one individual fund will own somewhere between nine to 13 somewhere, typically in that range, mobile home communities. These communities can range in size from maybe as small as 80 or 90 lots to the largest community we own at present time is 780 lots. And so it's quite large. I mean, the size of a small town. But essentially, investors come in and they own a based on their investment. They own a proportionate share of the various properties that are owned underneath that fund umbrella. And so one, an individual, might come with 100,000 and own a smaller proportion share than someone that comes in with a million dollars. But they are owners. They're absolute owners. They participate in the cash flow, they participate in the the upside, and they participate in the proceeds. When we have capital events, either cash out refinances or potential sale events.    Keith Weinhold  20:56   Tell us more about why it's so profitable. Why do mobile home park investors get excited,    Kevin Bupp  21:01   as with anything, Keith, you know, you got to buy it, right? And, you know, we look at a lot of deals, and a lot of deals don't pencil like, if we bought it for what they're asking, we would make money. We might lose money. And so the money's made on the buy, just like with any other type of real estate investment. But I think the one factor that really has allowed mobile home parks to be an attractive investment vehicle over the past, really, the last decade, it's grown the attention of lots of different private equity groups, institutional investors, that 15 years ago, they weren't in the space, and the biggest reason is a lot of these. It's a very fragmented niche, and so there was no consolidation that existed 10 years ago. There was really only two public traded companies outside that. It was mom and pops, mom and pops, that typically owned one, maybe sometimes two or three communities, but it was just a very fragmented niche. And what you find those fragmented niches that there's a lot of inefficiencies that exist in the operations. There's a lot of inefficiencies that exist with regards to utility management or managerial oversight within the community, or even keeping up with market rents. And so very often, we'll get into a community we just bought one at the end of last year, and right outside of Ann Arbor, you know, great sub market in Michigan. It's it literally has never traded hands. It was built back in the 80s by the gentleman we purchased it from. He was a subdivision developer, but he got into the manufactured housing space, so he built this, what looked like a subdivision, but it was mobile homes and and he basically owned it up until we acquired it last year, but gorgeous community, well maintained, needed some upgrades, different amenities that just were a little worn out and tired. But the biggest element within that community was that the market rents in the local area were roughly $800 a month. $800 a month for lot rent, and when we purchased it from him, the average lot rent throughout the community was $477 so there was a significant loss lease that exists. And we see this quite often with just over time they've owned it, free and clear, they go 567, years out, doing rent increases, and sooner or later, they find themselves in a situation where they are severely below the local market rents. And so there's typically a lot of loss, at least recapture, that we find going into these communities. Sometimes we'll also go in and we'll find there's a lot of waste with the water and sewer cost. It might not be billed back for usage to the residents, to where if you're not paying for something, sometimes you're abusing it. And a lot of times we can go in and put individual meters in and almost send entirely that savings down to the bottom line and find it as additional noi on our PNL. And so it's just inefficiency of operations, and again, quite common, given the mom and pop nature of this asset class. But it's very quickly becoming consolidated. Now it looks very different today than what it looked like as far as the ownership groups. When I go to an industry event 10 years ago, those other guys like us, and then a lot of mom and pops. Now it's, you know, the likes of reps from Blackstone and Carlisle group and and got lots of other institutional groups that are showing up there. So just it's very different world, and probably more akin to that of what the apartment sector looks like, as far as ownership groups and the consolidation that's happening.    Keith Weinhold  23:52   You're feeling more of that competition. Kevin and I are going to come back and talk about another, I suppose, real estate investment that has something to do with wheels, and that is investing in parking lots. I'm your host, Keith Weinhold   Keith Weinhold  24:07   if you're scrolling for quality real estate and finance info today, yeah, it can be a mess. You hit paywalls, pop ups, push alerts, Cookie banners. It's like the internet is playing defense against you. Not so fun. That's why it matters to get clean, free content that actually adds no hype value to your life. This is the golden age of quality email newsletters, and I write every word of ours myself. It's got a dash of humor. It's direct, and it gets to the point because even the word abbreviation is too long. 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While it's on your mind, start at Ridge lending group.com that's Ridge lending group.com.   Ted Sutton  25:51   Hey, it's corporate directs Ted Sutton. Listen to get rich education with Keith Weinhold, and don't quit your Daydream.   Keith Weinhold  25:59   welcome back to get rich education. We're talking about two real estate investment niches with Kevin bump today, an expert in both mobile home park investing and in parking lot assets. And Kevin, I got to tell you, I am more skeptical about parking lot investing than I am about mobile home park investing, but you can probably help me with this. I think we know that. I mean, gosh, just historically, ever since Henry Ford did his thing. I mean, mass transit adoption is really slow in most US cities. But anymore, one needs to wonder, okay, can autonomous cars disrupt the parking model? A Robo taxi can just constantly stay on the road, dropping off and picking up passengers where, you know, some people foresee a day in the not too distant future that people won't even need to own cars. They'll sort of have a subscription to a car service, but now this is where your expertise is. So I'm sure you thought above and beyond that. So what are your thoughts there, just for the need for parking spaces?    Kevin Bupp  27:11   You make a valid point. I think the adoption of that, it's, I think it will be very different from market to market, say, the city, whereas, if you want to maybe look at one area. We have a parking garage today in downtown Phoenix, Arizona. Phoenix is very much a driving city. It's parsed out very far the public transit. It's not great there. And again, it's just it's a wider state, whereas, if you compare it to like a San Francisco, the adoption of Robo vehicles and robotaxis and things like that autonomous vehicles is much, much faster than that of a of a phoenix. But also San Francisco is much a much more consolidated marketplace as far as the urban core. And so for that reason, you know, we look at parking, it's got a there's a couple things also that feed into that. So I want to back up a little bit. One of the major changes that has been really playing out over the past 15 years within the parking sector is that building departments within now, I think it's over 100 cities across the country. Denver just announced last week that they're also adopting this policy. And that policy is that historically, if you were Keith, you're going to go on, hey, I want to build this in downtown. I want to go build this apartment complex, condo complex, mixed use property, whatever it might be. Historically, they would have required you, whether you wanted to or not. They would have made you put in a certain amount of parking per 1000 square feet, every municipality would have a formula. And what, what a lot of these cities realized a couple decades ago is that, based on their, you know, antiquated formulas, they had a surplus of parking available on a lot of these downtown areas. You know, it wasn't being used. And given the developer an opportunity and the choice to say, Hey, do I want to build 20 more parking spaces that aren't going to get used? Or I want to build want to build 10 more apartment units, they're going to choose the apartment units. And so the parking mem requirements have been taken away, have been eliminated in a lot of cities over the last decade plus. And so that's created a shrinking supply of parking because now when developers build something, they're building only as much as they need, sometimes not even as much as much as they really need, because then they can still rely upon other ancillary parking structures within the immediate marketplace. And so, so there's a shrinking supply of parking. And every city that we own in today there's a massive shrinking supply of parking. So that's big piece of it that we know that inevitably, if we get the location right, an area where literally, you wouldn't be able to afford, based on the cost of construction and the cost of lands, they wouldn't be able to afford even building new parking structure, if you so chose to. And now that there's also a shrinking supply, diminishing supply, of this parking that we can be comfortable in our demand for our product, and so to the point of like autonomous vehicles and things of that nature, I do think there will be a time. I don't know how long that time is. I do think that there will be a time where we'll see some sort of impact. I don't know what that is. And so how we underwrite deals is we feel very confident over the next 10 years. We have to have a absolute confidence level over the next 10 years that there's going to be continual demand based on the various factors within this marketplace, the demand drivers that are servicing that garage, like, who's parking there, why they're parking there. But second to that, when we. Buy something. We need to have the air rights. We know that there inevitably will be a higher and better use. So Location, location, location, it's got to make sense today as parking. We got the underwriting has to stand on its own as parking, and we have to have a comfort level that 10 years, there will be sufficient demand throughout the duration of the next decade, in the event things start changing down the road, we know that, literally, the lowest use that it could ever have is its present use, which is parking because it's just a concrete structure, sometimes just an asphalt parking lot, to where, once you go vertical, that's where you're going to be able to unlock a lot of additional potential. And so we don't underwrite the future. We look at that as icing on the cake. But we know, based on the the location, the proximity to, you know what else is happening in that marketplace, that location will be in demand, not just today, but many decades to come. So I'll stop there and see if you have any clarifying questions.   Keith Weinhold  30:51   I think about how for the parking lot investor, Jamie Dimon has been really good for you. He is so hard on the return to Office. Mandate?   Kevin Bupp  31:01   Yeah, I'd say one thing that's important to make note is, I don't know what the future holds for office I tend to make the argument that wherever picking office building in a marketplace, wherever they're at with occupancy today, I think it's probably as good as it's going to get. We don't have to go down that rabbit hole. But I just I feel like it's been long enough since covid. And don't get wrong, there's gonna be a few companies that are going to be pressed that are going to be pressing, you know, in a big way, to get people back, but I think 80% of them that we're going to go back are already there. And so any parking asset that we look at, if it's got more than 10 or 15% as far as relationship with an office building or multiple office buildings in immediate vicinity, then we typically pass on it. And on top of that, it's got to have a variety of demand drivers. So it just can't be supportive of one or two different demand drivers. We have have at least five. And so it can be a courthouse, municipal buildings, sports arenas. It's got to be a 24/7 city where there's something happening, 24 hours a day, seven days a week, hotel, valet, restaurants, retail, things like that. And office has to be a very minimal part of that makeup, or else we just move on, because I don't know how to fix it. How to fix that problem yet. I don't know what's going to you know what the future holds for your traditional office towers, especially the ones that are, you know, 50, 60% vacant at the present time? Yeah, that's interesting, because when you look at a parking lot and you're evaluating its potential and its current use, yeah, you're basically thinking about, what is that tenant mix. You don't want 100% of it to be for one office building. You would probably want a number of uses. That's correct. Yeah, absolutely. Again, like I said, Five is our minimum. I mean, the more the merrier. And I'd say another big piece of it, if we had to look at the different demand drivers and put a value or a hierarchy of what we feel, what are the highest priority demand drivers, transient is the best. I want to know that the folks that are coming there, there's enough attractions in immediate vicinity, and we need to know what those attractions are, and better understand those attractions. But there's a variety of attractions in the immediate vicinity to where it's going to continually attract transient parking. So it's not just it's not a reliance upon one thing. And so, for example, we just closed on a garage in historic Philadelphia, and so it's a block away from Liberty Bell, two blocks from Independence Hall, any of other museums. I mean, like it's it is we talk about location, location, location. It's there that part of Philadelphia has been in demand by tourism for hundreds of years, and I don't foresee that that changing anytime soon. And so 70% of the makeup of the traffic in that garage is made up of transient traffic, so folks that are visiting the various attractions and immediate vicinity. So even if one of those attractions went away, which most of them are historical, they're not going to go away. If one or two did, it still wouldn't have that significant of an impact on the parking demand.    Keith Weinhold  33:36   That's interesting. Okay, a transient customer, not one that's showing up and parking there every day to go to work. And yes, the Liberty Bell, Independence Hall, there's going to be a long term demand to see those sorts of things in person. So that's an interesting way to think about that. And Kevin, while we've been talking about parking, at least in my mind's eye, a lot of times, I've just been thinking about one paved at grade parking area, but we're talking about parking garages as well. Or what are some of the trade offs there between parking garages and an at grade parking lot?    Kevin Bupp  34:08   Yeah, I mean, at grade parking lot is, can't get any simpler than that. I mean, typically they're asphalt or sometimes just crushed gravel, but that's it. So as far as future capex requirements, there's not many, right? It's very, very minimal. Whereas a parking garage, especially if it's in a colder environment, where there's snow and you've got salt on the road, salt that's making its way up the concrete, seeping into the cracks, you've got structural rebar issues to worry about, things of that nature. So weather can take a major toll on parking structures if they're not maintained well. Whereas you know the worst that could happen the same weather, you know, the weather takes the same toll on these asphalt parking lots, but it really only equates to maybe a pothole that you have to fill in, and a parking structure could be deteriorated to the point of no return if it's been neglected long enough to where it might be unsafe, structurally where you know now you're you're getting condemned or shut down. So big considerations there, it's interesting. We Own, the one we own in Phoenix, the Phoenix, it's a desert. It's a desert climate. They get very little moisture. And that was that parking garage was built in the 60s, so very long time ago. It's the oldest thing we have in our portfolio, but it better condition has been preserved better than that of of a recent garage we purchased that was built in 1990 that's all the environment that's in. You know, there's really not much that can deteriorate concrete once in the desert.    Keith Weinhold  35:22   Was there any last thing on parking lot investing like something that gets an investor really interested in this asset class? What's really compelling and profitable about it?   Kevin Bupp  35:33    It's very technology driven business, and what we have found is a lot of these parking assets, of either they're owned by, you know, an individual investor, or if they happen to be owned by an institution, they've never been viewed as the primary investment vehicle. A lot of institutions that own parking garages, they happen to own them by default, because maybe they bought the two office towers years back, and it just happened to come with parking right? And so a lot of times, they've been somewhat neglected, like the PnL has been neglected. They haven't found ways to really extract all the value out of these parking facilities. And so very commonly, we'll go in and we'll find that the technology that's in place is 10 years old. And think about what a computer 10 years ago look like, right? Like it's you're not catching all the license plates. You're not able to log in and adjust pricing in a dynamic manner based on supply, demand factors. And so we can simply go in and just create a more efficient pricing model and find sometimes, you know, 10 15% of additional revenue just from doing those simple things, like literally a few $100,000 worth of upgrades and technology, we can add millions of dollars of value. There's other factors, you know, just simple things folks want to park in a not just clean and safe, but well lit. You know, they want to feel safe in lighting. And we'll find parking facilities that still have old halogen lights. Half of them are burnt out. If you start serving people, they're actually not parking there in the evenings. They're finding somewhere else to go because they don't feel safe. And so just going in and doing a revamp, you know, an upfit with LED lights, making it nice and bright, bright and clean and letting everyone feel safe, we'll find a instant increase in demand and Parkers in the later evening hours. So I mean just little simple operational tweaks that we can make that just have simply been overlooked for many, many years by the prior ownership groups.    Keith Weinhold  37:15   That's really interesting, that oftentimes the owner of a parking lot owns that parking lot as an afterthought, because they were in it to purchase the building that accompanies the parking lot. So it would make sense that when you focus on that parking lot, you could really add value and profitability to that lot. Well, Kevin, these have been interesting chats between mobile home park investing and parking lot assets. I think that the commonality here is that you the investor, are just owning a lot, and therefore the maintenance and hassles with these things are really low. This gives our audience an awful lot to think about. So Kevin, are there any last thoughts that you have about this space overall, and then please let us know how our audience can learn more.    Kevin Bupp  38:02   No additional thoughts. I don't believe I'd say that if you have an interest, if we've piqued your interest at all, we've written a number of white papers on both asset classes, both parking as well as mobile home parks. You can download all that for free on our website. Invest with sunrise.com We've got a number of other case studies on our website. We're pretty transparent. Well, what we buy, what we've owned, what we've exited out of. We'll go as far as providing appraisal reports and third parties and things like that on our website. So if you just want to get a sense of not just who we are, what we do, but just have a better understanding of the investment thesis behind parking and manufactured housing, there's tons of resources that you can download from the website.    Keith Weinhold  38:37   Well, that's a great way to learn more about Kevin, what he does, and then maybe even invest alongside him. Well, Kevin, it's been valuable and eye opening. It's been great to have you back on the show.    Kevin Bupp  38:46   Yeah, thanks for having me, Keith. Been a lot of fun, my friend. Good seeing you again.   Keith Weinhold  38:57   Yeah? Good stuff from Kevin there. The MHP space becoming more consolidated and corporatized too. You know, single family rentals are different from mobile home parks in that way. I mean, 90% of single family rentals are owned by small mom and pops, which means those people that own between just one and five properties, Kevin used the term loss to lease a few times. That phrase loss to lease being a real estate education show what that term means is really a lot like how it sounds. It is the potential income that a property owner misses out on because the actual rent collected is less than the current market rent. That's what loss to lease means. Though, I like the long term future of mobile home parks more than parking deals. You know, Kevin did, though, have some great answers for why he still likes parking. He focuses on a 10 year horizon. He. Looks for at least five use types for the parking. And then another great point is that in a lot of cases, the land that the parking occupies is its lowest use. So therefore, when they sell the parking area, they can get some nice exit income. That makes a lot of sense. And being two native Pennsylvanians like we are, I am familiar with that part of Philly that he's talking about. In fact, what's funny is that, in producing this show today, I guess cookies are doing their thing. This parking lot deal in Philly just appeared in my Instagram feed next week on the show, it'll be back to no guest. It's going to be all me, and you're going to hear some things that you wouldn't expect to hear Until then, I'm your host, Keith Weinhold, don't quit your Daydream.   Dolf Deroos  40:51   Nothing on this show should be considered specific, personal or professional advice. Please consult an appropriate tax, legal, real estate, financial or business professional for individualized advice. Opinions of guests are their own. Information is not guaranteed. All investment strategies have the potential for profit or loss. The host is operating on behalf of get rich Education LLC, exclusively.   Unknown Speaker  41:19   The preceding program was brought to you by your home for wealth, building get richeducation.com

In this conversation, Victor Collazo shares insights into real estate investment strategies, particularly focusing on the growing demand for senior living facilities. He discusses the operational challenges and the importance of experienced management in this sector, as well as the potential for high returns on investment. The conversation also touches on the evolving market dynamics across different regions, highlighting opportunities beyond traditional retirement hotspots like Florida.   Professional Real Estate Investors - How we can help you: Investor Fuel Mastermind:  Learn more about the Investor Fuel Mastermind, including 100% deal financing, massive discounts from vendors and sponsors you're already using, our world class community of over 150 members, and SO much more here: http://www.investorfuel.com/apply   Investor Machine Marketing Partnership:  Are you looking for consistent, high quality lead generation? Investor Machine is America's #1 lead generation service professional investors. Investor Machine provides true ‘white glove' support to help you build the perfect marketing plan, then we'll execute it for you…talking and working together on an ongoing basis to help you hit YOUR goals! Learn more here: http://www.investormachine.com   Coaching with Mike Hambright:  Interested in 1 on 1 coaching with Mike Hambright? Mike coaches entrepreneurs looking to level up, build coaching or service based businesses (Mike runs multiple 7 and 8 figure a year businesses), building a coaching program and more. Learn more here: https://investorfuel.com/coachingwithmike   Attend a Vacation/Mastermind Retreat with Mike Hambright: Interested in joining a “mini-mastermind” with Mike and his private clients on an upcoming “Retreat”, either at locations like Cabo San Lucas, Napa, Park City ski trip, Yellowstone, or even at Mike's East Texas “Big H Ranch”? Learn more here: http://www.investorfuel.com/retreat   Property Insurance: Join the largest and most investor friendly property insurance provider in 2 minutes. Free to join, and insure all your flips and rentals within minutes! There is NO easier insurance provider on the planet (turn insurance on or off in 1 minute without talking to anyone!), and there's no 15-30% agent mark up through this platform!  Register here: https://myinvestorinsurance.com/   New Real Estate Investors - How we can work together: Investor Fuel Club (Coaching and Deal Partner Community): Looking to kickstart your real estate investing career? Join our one of a kind Coaching Community, Investor Fuel Club, where you'll get trained by some of the best real estate investors in America, and partner with them on deals! You don't need $ for deals…we'll partner with you and hold your hand along the way! Learn More here: http://www.investorfuel.com/club   —--------------------

If you've ever tried to figure out senior living or care options in Washington State, you know just how overwhelming it can be. From 55+ communities to assisted living, memory care, adult family homes, and in-home care — there's a lot to untangle. In this episode, I sit down with my friend and colleague Morgan Nelson to break it all down. Together, we explore why Washington is considered one of the best-equipped states for senior care, how to tell when it's time to transition from home, and what families can do to prepare before they're in crisis mode. We also get honest about guilt, burnout, and the emotional side of making these decisions. Whether you're helping a loved one or planning for your own future, this episode will help you feel more informed, less alone, and a lot more doable as you navigate your next steps. And Morgan has recently joined the Clear Path team! If you need help with senior living & care in Pierce, Thurston or S. King County, WA - email Morgan today! Morgan@clearpathsls.com CLICK HERE for our DOABLE DOWNLOAD with FULL SHOW NOTES Follow us on INSTAGRAM for more doable tips! Need help finding senior living or care? BECOME A CLIENT TODAY! We can help with your search for senior living & care wherever you live! www.clearpathsls.com Would you like to share your story and be a guest on our show?  Guest Application Email us at connect@desperatelyseekingseniorliving.com with your senior living questions. www.desperatelyseekingseniorliving.com Hit subscribe ✅ and spread the word!

What happens when you bring together seniors and young adults with special needs under one roof? In this episode, Melissa Brown sits down with Chiriga Ofori, CEO of Kinbridge at Oviedo, to explore her groundbreaking intergenerational assisted living model.Chiriga shares how her personal journey as a caregiver inspired her to reimagine senior living, blending wisdom, energy, and support across generations. From creating meaningful connections and combating isolation to making the greenhouse small-home model operationally sustainable, she reveals how Kinbridge is building true community.If you're a senior living operator, healthcare professional, or just curious about new approaches to person-centered care, you'll walk away with insights, inspiration, and practical advice.Support the show

What if senior living operators could predict health risks before they turn into hospitalizations? What if caregivers had real-time insights—without relying on cameras, push buttons, or wearables residents don't want to use?   On this episode of Foresight Radio (Tech Tuesday edition), host Steve Moran sits down with Stuart Hamilton, Founder & CEO of Amba, to explore how passive sensors and AI are creating a new standard for senior living care.   Stuart shares the journey of building Amba after moving his own father into a community and realizing the technology gap. Today, Amba's platform helps operators in the U.S., Canada, and the U.K. reduce falls, detect infections earlier, and give caregivers back valuable time—while protecting resident dignity and privacy.   Top Takeaways Why “no cameras, no buttons” matters: Passive sensors track health, sleep, and activity in the background. Real outcomes: Communities using Amba report 50–60% fewer nighttime falls and 30% fewer hospitalizations. Caregiver empowerment: Alerts are simple, customizable, and reduce low-value tasks—so staff can focus on meaningful interactions. AI in action: From natural language EHR summaries to voice-activated dashboards, AI is making care easier, not harder. Medicare reimbursement opportunity: Learn how communities can offset costs through physician partnerships and clinical monitoring codes. If you're a senior living operator, innovator, or tech partner, this episode will change how you think about the role of technology in aging services.

Zach Rucker interviews investor Roberto Carabetta on his transition from Canadian single-family homes to U.S. multifamily and senior living. He discusses operational demands, demographic-driven demand, acquiring undervalued assets, and the importance of experienced operator partnerships.Follow and connect with Roberto. InstagramFacebookLinkedInWe want your feedback! Take our survey to help us better your listening experience.Check out the Multifamily Mindset store for great tools like the Think Bigger Journal and MFM merchandise.Follow us on Instagram:►Tyler Deveraux (@tyler_deveraux), CEO of Multifamily Mindset & Managing Partner of Axxis Capital►Cyndi Maguire (@cyndigap), Real Estate Investor & Consultant at the Multifamily Mindset►Zach Rucker (@zachrucker), Underwriting Mentor at the Multifamily Mindset

Phil Gorski shares his deeply personal journey from a life-altering diagnosis and liver transplant to founding a company that's transforming how families experience senior living options. Through immersive virtual tours, Phil helps communities build trust, reduce stress, and improve transparency during one of life's most emotional decisions.Phil Gorski is the CEO and President of Ova-Nee Productions, the company behind Senior Living 360 Tours. After a successful career in enterprise tech and a life-changing liver transplant, Phil shifted gears to focus on creating digital experiences that bring clarity, comfort, and transparency to the senior living search process. His mission is rooted in empathy and powered by tech.Timestamps:[02:00] Phil's backstory: IBM, illness, and an unexpected pivot[05:00] How a liver transplant reshaped his values around trust and empathy[08:00] Discovering 3D scanning and founding OVNI Productions[10:00] The moment a friend's comment sparked the senior living 360 idea[13:00] What families really want when researching senior living[16:00] The emotional weight of decisions and why websites fall short[19:00] Why virtual tours are more than just tech—they're digital storytelling[22:00] How virtual tours reduce stress and align family members[25:00] Advice for operators: empathy and transparency are good businessOne organ donor can save up to eight lives and also save or improve the lives of up to 50 people by donating tissues and eyes. For more information about organ donation or becoming a donor, visit organdonor.gov.

Join us live on Real Estate Right Now as we take a closer look at one of the fastest-growing sectors in today's housing market—senior living. My special guest is Paige Van Lenten, Vice President of Placement and Marketing at Always Best Care Senior Living. Paige has been on the frontlines helping families navigate the often emotional and complex decisions around senior housing, and she brings a wealth of insight you don't want to miss. If you've ever wondered when the “right time” is to start thinking about senior care options, or what choices really exist for loved ones as they age, Paige will break it all down. From assisted living[...]

Imagine a world where your investments work smarter, not harder. Keith reveals the truth about why real estate trumps stocks, and how the current economic landscape is creating a once-in-a-generation wealth opportunity. Discover: Why traditional investing wisdom is leaving younger generations behind Why owning assets is the ultimate key to breaking free from economic uncertainty From the dying middle class to the rise of strategic real estate investing, Keith exposes the game-changing insights that most investors never see. Inflation is reshaping the economic landscape - and you can either ride the wave or get swept away Generation Z faces unprecedented economic challenges  Want to learn more? Your financial transformation starts here. Resources: Text FAMILY to 66866 Call 844-877-0888 Visit FreedomFamilyInvestments.com/GRE Show Notes: GetRichEducation.com/573 For access to properties or free help with a GRE Investment Coach, start here: GREmarketplace.com GRE Free Investment Coaching: GREinvestmentcoach.com Get mortgage loans for investment property: RidgeLendingGroup.com or call 855-74-RIDGE  or e-mail: info@RidgeLendingGroup.com Invest with Freedom Family Investments.  You get paid first: Text FAMILY to 66866 Will you please leave a review for the show? I'd be grateful. Search “how to leave an Apple Podcasts review”  For advertising inquiries, visit: GetRichEducation.com/ad Best Financial Education: GetRichEducation.com Get our wealth-building newsletter free— text ‘GRE' to 66866 Our YouTube Channel: www.youtube.com/c/GetRichEducation Follow us on Instagram: @getricheducation Complete episode transcript:   Keith Weinhold  0:01   Welcome to GR, I'm your host. Keith Weinhold, talking about real estate versus stocks, how housing has been in a recession that could now be thawing. Then why the war on the young and the vanishing middle class threatens to get even worse today on get rich Education.    Keith Weinhold  0:19   You It's crazy that most people think they're playing it safe with their liquid money when they're actually losing savings accounts and bonds don't keep up when true inflation can eat six to 7% of your wealth. Every single year, I invest my liquidity with FFI freedom family investments and their flagship program with fixed 10 to 12% returns that have been predictable and paid quarterly. There's real world security. It's backed by needs based real estate like affordable housing, Senior Living and healthcare. Ask about the freedom flagship program when you speak to a freedom coach there. And here's what's cool. That's just one part of FF eyes family of products. They include workshops and special webinars, educational seminars designed to educate before you invest start with as little as 25k and finally, get your money working as hard as you do. It's easy to get started. Just grab your phone and text family. 266866, text the word family. 266866, that's family. 266866,   Corey Coates  1:37   you're listening to the show that has created more financial freedom than nearly any show in the world. This is get rich education.   Keith Weinhold  1:47   Welcome to GRE from Rocky Mount North Carolina to Mount Shasta, California and across 188 nations worldwide. I'm your host, Keith Weinhold, and you are inside for another wealth building week of get rich education. A lot of people have been building wealth lately. Do you even understand all the markets that are either at or near all time highs, real estate, stocks, gold, all recently hit those levels, also nested home equity positions of American property owners are at all time highs. Silver is also near an all time high, and so are FICO credit scores. All this means that the haves are in really good shape, and the have nots aren't more on that later. Let's then you and I talk about real estate versus stocks. I've invested in both for decades, and it's not something that I do on the side. This is the core of what I do and talk about with you every week. And I've never felt more inclined toward investing in real estate ever the resilience of residential real estate, a major reason is that I've always found real estate investing easier to understand than the s and p5 100, and it comes down to the mechanics of each one in The stock market, a company can be well run, it can be profitable, and it can even be growing, yet its stock price might fall anyway. Why? Because expectations weren't met for a quarterly earnings report, or investor sentiment just happened to shift for a while, people just tended to focus on the bad stuff instead of the good stuff, even though it was always there, and that's why the stock price went down. So what makes a stock move more often than not, is kind of laughable. It isn't a word sentiment, emotions. It's how investors collectively feel about a stock and that can change on a dime. One quarter's earnings miss an interest rate hike, geopolitical news or even a single social media comment from a CEO that can move billions of dollars of market value in an instant real estate, on the other hand, that strips away a lot of that noise and that ability for other people's emotions to ruin the price of your apartment building that cannot happen at its core, the value of a property is tied to its income stream and the market that It sits in, that makes it far more direct and way more controllable. If I buy a property, I can see the levers in front of me and ask my property manager to push or pull them or even do it myself. For example, I just asked them to replace flooring in three of my apartment units. With pricier luxury vinyl plank rather than new carpet, and that's because I plan to hold that building for another five years or more. I'll attract a better quality tenant that can afford to pay me more rent. So I know that if I improve operations and increase occupancy, reduce expenses or reposition the asset down the road. I mean, that is directly going to increase net operating income, and that increase will directly affect my valuation. So there's a logic to this that's almost mechanical, and that is not to say that real estate is without nuance or risk. The risk lies in execution. You have to underwrite carefully. Is the location of your property sustainable long term? Are the demographics supportive of Lent growth? What capital improvements are truly lucrative to you and provide the tenants with value, and what kind of improvements are only cosmetic? So real estate isn't just tangible, it's also something that you can interact with. You can walk a property, you can even speak to tenants, study the neighborhood and know exactly what you're dealing with. It's not a ticker symbol reacting to opaque forces that you'll never see or control, and for me, that tactile nature creates clarity. When you buy the right property in the right market with the right strategy, then the path forward is not mysterious. It isn't whimsical, it's deliberate. Real Estate is easier to understand than the S p5, 100. And that also doesn't mean that real estate is simple, because there is that due diligence and strategy, but it's the cause and effect relationship between what you do and the outcome that you get that's far more direct with stocks. You can be completely right about the fundamentals. I mean, you can nail it. You can Bullseye that stock target, and after all that, yet still lose with real estate. If you execute well, the fundamentals eventually do show up in the returns and see because of that direct cause and effect relationship, you can improve yourself as a real estate investor faster than a stock investor can, and that's because you can learn about how your upgrade drove your properties, noi, that information, that feedback that you got, that's something that you can either replicate again or improve upon in your own investor career. So between real estate and stocks, execution is the real differentiator, and control is a key one as well. To me, that sweet spot is control that I have. But through a property manager that way, control doesn't mean that you're losing your quality of life, your standard of living. Now, some people, they do, have the right handyman skills to maintain the property and the right people skills to maintain the tenants. So self managing it can work for just a few people. I sure don't have the handyman skills myself. Sheesh, if I even try to hang a picture on a wall, there's a 50% chance that it's going to end in a drywall patch job. When you can see the cause and effect between your decisions and the property's performance, it creates that level of control that stocks and bonds just don't offer. And I'm also being somewhat kind to stocks by discussing a benchmark like the s, p5, 100, even harder to control and understand are the Wall Street derivatives and financial mutations that the people invested in them don't even understand. Unlike stocks, you own, the levers you own, the operations, the expenses and the occupancy, both have risks, but real estate's risks are more perceptible, more knowable. You won't have to cringe when a company's CEO posts a tweet that's either pro Israel or pro Gaza. Billions of market cap is wiped out, and your investment goes down 12% in one hour. This is why we talk about real estate on the show. There is less speculation and conjecture. It is concrete stuff, and that's all besides how real estate pays you five ways at the same time, as if that wasn't enough.    Keith Weinhold  9:38   Now, when we talk about real estate investing in this decade, do you realize that we have been in a housing recession for two years? A recession in real estate? I mean, it might not feel like it with those home prices at erstwhile mentioned all time highs. We don't need to have falling prices to have a recession. Investors are obviously. Making money in this housing recession. The recession I'm talking about is the slowdown in housing activity stemming from less affordability, lower sales volume and less available inventory. But we do now have signs that we are breaking out of these housing doldrums. As far as affordability, national home prices are staying firm. But what's helping there is that mortgage rates have fallen, and we've also had wages that are rising faster than rents and wages that are rising faster than mortgage payments. In fact, wages have been rising faster than both of those for most of the last year now, and that's sourced by Freddie Mac Federal Reserve stats and rental listings on Redfin. Yes, year over year, American wages are up 4.1% rents are up 2.6% and mortgage payments are basically unchanged over the past year, up just two tenths of 1% and of course, these facts, combined with lower mortgage rates, all supports more real estate price growth. Now to kick off the show, I mentioned how real estate stocks and gold all recently hit all time highs. Well, that's denominated in perpetually based dollars, of course. However, one thing that affects you that certainly has not reached all time highs is the level of available homes, the number of homes for sale, that inventory is up off the recent bottom in 2022 yet it is still below pre pandemic levels. We have had quite a recovery here. National active listings definitely on the rise. They are up 21% between today and this time last year. Well, that means that buyers have gained leverage, mostly across the south, where lots of new building has occurred, and some areas of the West as well. Yet today, we are still, overall here 11% below 2019 inventory level. So nationally, we're basically still 11% below pre pandemic housing inventory levels. And in the Midwest and Northeast, the cupboard looks even more bare than that, since new construction totally hasn't kept up there, we will see what happens. But with the recent drop in mortgage rates, buyers might take more of that available inventory off the shelf. But here's the twist that I've heard practically no one else talk about no media source, no one in conversation. Nobody. It is the paucity of available starter homes. It's the entry level home segment that has the great scarcity, and it's these low cost properties that are the ones that make the best rental properties. Their paucity is jaw dropping, as sourced by the Census Bureau and Freddie Mac starter home construction in the US. I mean, it is just fallen precipitously. Are you even aware of the trend? All right, defined as a home of 1400 square feet or less, all right, that's what we're calling a starter home. Their share of new construction that was 40% back in 1982 Yeah, 40% of new built homes were starter homes. Then by the year 2000 it fell to just a 14% share, and today, only 9% of new built homes are starter homes, fewer than one in 10, and yet, that's exactly what America needs more of. So although overall housing inventory is still low, it's that entry level segment that is really chronically underserved, and that won't change anytime soon, we remain mired in a starter home slump because builders find it more profitable to build higher end homes and luxury homes. Yet for anyone that owns this workforce rental property, which is the same thing we've been focused on doing here on this show, from day one, you are sitting in an asset class that's going to remain stubbornly in demand over the long term. And when it comes to starter homes, the ones Investors love most, they are more scarce than bipartisan agreement in Congress, really. That is the takeaway here.    Keith Weinhold  14:39   So last week, I had an interesting in person meet up at a coffee shop with a 19 year old college student because he's a real estate enthusiast, rapping Gen Z there. He's an athlete too, an 800 meter runner. Well, his dad read Rich Dad, Poor Dad, and his dad has 60 rental properties. Where they're from in Wisconsin, and maybe you're wondering, oh, come on, what could I learn from this 19 year old? I don't think that way. Now, I told him about some foundational GRE principles like financially free, beats debt free and things like that. It was also insightful to get his take on how he sees the world, and for me to learn what his professors are teaching him about real estate investing in his classes, he talked about how his professors show them, for example, what affects apartment cap rates. Also about how, whenever they run the numbers on a property, it always works out better to get the debt, get that mortgage, and how that leverage increases total rates of return. I was really happy that he's learning that over there at the university, but I was really impressed how at age 19, he's responsible and understands so much about society, politics, investing, athletics and even diet. I mean, this guy is rare, talking about his preference for avoiding food cooked in seed oils and choosing beef tallow instead. He also lamented on how Generation Z is so screwed up, saying that no one reads, no one's having kids, no one can buy a home, no one's going to be able to buy a home, and that people his age are so used to looking at screens that they're anxious about in person interactions, even in person, food ordering from a waiter at a restaurant gives them anxiety. He and I are planning to go running together next week. We'll see how that goes. As a college 800 meter runner, he's going to have the speed advantage on me, but we're running up a steep, 40 minute long trail where I've got a shot at an endurance advantage. So it was rather interesting to get his take and see what college professors are teaching on real estate. I mean, this generation that's coming of age now, Gen Z is the worst generation since George Washington to have it worse off than their parents. I'm going to talk about that today, shortly. next week, on the show here, I plan to help you learn about what's going on with some real estate niches and what their future looks to be over the next 10 to 20 years, including mobile home park real estate and parking lot real estate, one of these asset classes I really don't like the future of That's all next week on the future of some certain real estate niches. Straight ahead today, I want to tell you about mortgage rates in a way that you've never thought about before and more about the war on the young and the vanishing middle class. I'm Keith Weinhold. There will only ever be one. Get rich education podcast episode 573, and you are listening to it.    Keith Weinhold  17:53   If you're scrolling for quality real estate and finance info today, yeah, it can be a mess. You hit paywalls, pop ups, push alerts, Cookie banners. It's like the internet is playing defense against you. Not so fun. That's why it matters to get clean, free content that actually adds no hype value to your life. This is the golden age of quality email newsletters, and I write every word of ours myself. It's got a dash of humor. It's direct, and it gets to the point, because even the word abbreviation is too long, my letter takes less than three minutes to read, and it leaves you feeling sharp. And in the know about real estate investing, this is paradigm shifting material, and when you start the letter, you'll also get my one hour fast real estate video course, completely free as well. It's called the Don't quit your Daydream letter. It wires your mind for wealth, and it couldn't be simpler to get visit gre letter.com while it's fresh in your head, take a moment to do it now at gre letter.com Visit gre letter.com    Keith Weinhold  19:06   the same place where I get my own mortgage loans is where you can get yours. Ridge lending group and MLS, 42056, they provided our listeners with more loans than anyone because they specialize in income properties. They help you build a long term plan for growing your real estate empire with leverage. Start your prequel and even chat with President Chale Ridge personally. While it's on your mind, start at Ridge lendinggroup.com that's Ridge lendinggroup.com   Todd Drowlette  19:38   this is the star of the A E show the real estate commission, I'd roll that. Listen to get rich education with my friend Keith Weinhold, and don't quit your Daydream.   Speaker 1  19:49   Welcome back to. Get Rich Education. I'm your host. Keith Weinhold, as a reminder that show the real estate commission starring our friend Todd Drolet, who is a guest on the show here with us at the beginning of this month, it starts October 10, on A and E, that's that reality based commercial real estate show. Late last year, the Fed lowered interest rates, and they're doing the same thing again this year, when interest rates rise and fall, think of it like a wall that's being raised and lowered. Cutting rates is like lowering the height of a wall or a dam. That's because it allows for the free flow of capital. Savings rate accounts. Well, since they'll now pay at a lower rate with this rate cut, they're more likely to get shifted out and invested somewhere and flow into something else, driving up that other asset's value. Mortgages are more likely to originate because you pay less interest. Lowering rates lowers the impediment to the flow of money. It eases that flow. Oppositely, raising rates is like increasing the height of a wall or a dam, because if your savings account rate goes from 4% up to 5% oh well, you more likely to keep it parked there a higher wall or dam around your money, and raising rates makes your mortgage costs higher, so you're more likely to stay put and not move money around, constrained by the higher wall, that's how interest rates are like walls and lower walls also increase inflation, since they increase The flow of money, and hence the demand for goods and services. Well, then why did the Fed cut rates, lowering the wall opening the door for inflation this last time? Well, I think you know that was due to the evidence of a sputtering job market. You know that, if you follow this stuff, a slowing job market slows the flow of money, hence why they lowered the wall to increase the flow. Now this might translate to even lower mortgage rates. It does have that loose correlation anyway, and this should lift the housing market. But here's the real problem. Inflation is higher than the Fed wants already, and it's still rising, and they cut rates, making it more likely to rise further. This is like pouring gasoline on a campfire while yelling, don't worry. I got this sure the fire burns brighter, all right, but you might lose your eyebrows. The risk here is that these rate cuts will make inflation spike, since lower rates makes everyone less likely to save and more likely to borrow and spend, this pushes up prices even farther and faster, and this is the Fed's dangerous game. This is the crux about why the Fed is between a rock and a hard place. Ideally, the Fed only cuts of inflation is at or below their 2% target, but understand it hasn't even been there one time in nearly five years. Now, year over year, inflation was 2.7% last month and rose to 2.9% this month. The price of almost everything is up even faster than it usually goes up, beef, housing, haircuts, flamin hot, Cheetos, everything as we know this inflation that's now positioned to pick up again. However, for us, this is the long term engine that makes our real estate profitable. It makes it easier to raise rents, all while your principal and interest payment stays fixed. Inflation cannot touch that like a mosquito buzzing against a window, and let's be real, official inflation numbers are like Instagram filters. They are shaved down, touched up and airbrushed. The government massages them with tricks like hedonics, the wave of inflation that peaked at 9% in 2022 that has already widened the distance between the haves and the have nots, like the Grand Canyon, eviscerating so much of the middle class. And now the powers that be are setting up a scenario for another wave of elevated, long term inflation. This could get dire. Look like I was saying earlier the generation coming of age today is the first one since George Washington to have it worse off than their parents. Do You understand the profundity of this? They had the lowest home ownership rate, and they're the poorest, often leaving them directionless, anxious, depressed, drug addicted and even suicidal for. The first time in US history, Americans are on track to be poorer, sicker and lonelier than their parents. They will make even less than their parents did at the same age, and that's despite having a college degree. Inflation is a big reason for that, and that's what I help you solve here. I can't really help you with the depression stuff. That's not really my role with what I do here in the show. But inflation, in getting behind is one contributor to all these things. Understand, in 1989 those under age 40, they held 12% of household wealth. Today it's just 7% older Americans got rich, and they basically locked the gates behind them. Those over age 70 only held 19% of US wealth in 1989 now it's 30% Harvard's endowment has grown 500% since 1980 that's adjusting for inflation, but yet their class size hasn't grown. I mean, this is just more evidence that old money wins and young people are losing and cannot get ahead in 2019 the federal government spent eight times more per capita on seniors than they did kids. We all know that Gen Z is delaying marriage, home ownership and family formation in 1993 60% of 30 to 34 year olds had at least one child. Today, it's gone all the way down to 27% in about 30 years, that's fallen from 60% down to 27% this is not a resource problem. It's a values problem and an inflation problem, and also the tax code, values owning assets which older people have over labor, which younger people have. This is the crux of the war on the young and the war on those that don't own assets. You've got to wonder, is it even fixable? Some of it is, but no one really wants to fix inflation, and now they're lowering rates to open the door for even more of that widening that canyon, yes, the wave of inflation that started four to five years ago that broke down the middle class, and now it's set up to widen even more. I want to tell you what you can do about that shortly. But first, have you ever wondered, why do we even stratify upper, middle and lower class based on somebody's income? Why the income criterion, if you say that someone's upper class, everyone knows what that means. It means that you have a lot of wealth or income. But why is that the basis? Why do we classify it based on income? Well, it really started forming during the Industrial Revolution of the 1700s and 1800s that began in Great Britain. Before that, class distinctions were usually based on land ownership or nobility or occupation, for example, aristocrats versus peasants. But as industrial capitalism spread out of the UK, wages became the dominant way that people made a living. So tracking income, it sort of became this natural way to map out class. And then this notion spread in the 1800s and 1900s that was propelled through both economics and social science. You had thinkers like Karl Marx and Max Weber that were deeply concerned with class. Marx emphasized ownership of the means of production. You've probably heard that before, capitalists versus workers. But as societies modernized people in the world of both Economics and Psychology, they agreed that income was an easier dividing line than ownership alone. And then, starting last century, in the US, the 1900s income statistics, they became rather central in all of these policies that we make, like our tax system and poverty thresholds and qualifying for housing programs and even welfare benefits. See, they all rely on income bands. And over time, this normalized in our vernacular, these strata of upper middle and lower class sort of this income based shorthand that we use, throwing these terms around. So whether we like it or not, classes are based on your income level, and that's how it came into being. Well, with. A quick history lesson with the eroding of the middle class, with the war on the young. What can you actually do to make sure that you find yourself on the upper income side of it without falling to the lower side the lower class? Well, we know who the future financial losers are going to be. It is anyone not owning assets, and it's also savers clutching their dollars as those dollars quietly melt like ice cubes in July, right in their hand. Those are who the financial losers are going to be. Who are the winners going to be? It is asset owners riding the inflation wave, and the winners are also debtors who get to pay back tomorrow with cheaper dollars today, especially with that debt that you have outsourced to tenants. Here's the big takeaway, if you did not grab enough real assets during the last wave of inflation don't get left behind this time, because the longer you wait, the harder it is to jump aboard this moving train that keeps getting momentum and moving faster. The bottom line here is that at GRE we advocate for simply doing it all at once. Use debt to own real assets while inflation pushes up your rents. That's it, right. There it is. That's really the most concise way to orate the formula. Look in your mortgage loan documents. It does not say that you have to repay the mortgage loan in dollars or their equivalent. It only says you have to repay in dollars. That's your advantage. As dollars keep trending closer to worthless. To review what you've learned so far today, real estate is easier to understand and has more control than stocks. Housing has been in a recession, but there's more evidence that it is thawing, and a setup for more inflation has America poised to exacerbate the war on the young and widen the canyon between the haves and the have nots, and it threatens to get even wider as the middle class keeps vanishing and struggling.   Keith Weinhold  32:23   Now, if you like good free information, like with what I've been sharing with you today, and you find yourself doing a bit too much scrolling for quality written real estate and finance info. I mean, yeah, it can be a mess. It can be tough. If you want to get the good stuff, you hit paywalls and pop ups, and you get these push alerts and cookie banners. It's a little annoying. It's like the internet is playing defense against you. Not so fun, and that's why it matters to get good, clean, free content that actually adds no hype value to your life. This is the golden age of quality email newsletters. I've got one. I write every word of ours myself, and it's got a dash of humor, yet it's direct. And it gets to the point because, as I like to say, even the word abbreviation is too long. My letter takes less than three minutes to read, and it leaves you feeling sharp and in the know about real estate investing, this is the good stuff, the paradigm shifting material, the life changing material, you can get my letter free at gre letter.com Where else would you get the GRE letter? Greletter.com and along with the letter, you'll also get my one hour fast real estate video. Course, it's completely free as well, and it's not to try to upsell you to some paid course, there is no paid course, there's just nothing for sale, no strings attached, free value. It's called the Don't quit your Daydream letter. It wires your mind for wealth, and it couldn't be simpler to get as you know, I often like to part ways with something actionable for you, visit gre letter.com while it's fresh in your head, take a moment to do it now one last time it's gre letter.com until next week. I'm your host. Keith Weinhold, don't quit your Daydream.   Speaker 2  34:24   nothing on this show should be considered specific, personal or professional advice. Please consult an appropriate tax, legal, real estate, financial or business professional for individualized advice. Opinions of guests are their own. Information is not guaranteed. All investment strategies have the potential for profit or loss. The host is operating on behalf of get rich Education LLC, exclusively.   Keith Weinhold  34:52   The preceding program was brought to you by your home for wealth building. Get richeducation.com

The senior care industry is facing rapid change—and with it, big opportunities. In this episode, we dive into how demographic shifts, economic pressures, and new technologies are reshaping senior living. Hear fresh insights on aligning care with wellness, value-based care, and what it takes to stay ahead in a transforming landscape. Episode sponsored by PointClickCare. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this episode, Matt Reiners is joined by Dr. Malinda Shultice, Founder and CEO of MS Healthcare Consulting and an educator at Iowa State University, to explore how curiosity can be a transformative tool in senior living leadership. From her unexpected entry into the field to the creation of her own company, Dr. Shultice shares actionable advice on how leaders can reduce burnout, foster empowerment, and reignite passion for their work through simple, curiosity-driven practices.With over a decade of experience in senior living, Malinda now helps current and future leaders reignite curiosity and build healthier, more empowered teams. She is also a faculty member at a business school in Spain, where she teaches leadership and entrepreneurship.Timestamps :2:00 – How a part-time job led Malinda to a decade-long career in senior living4:00 – The pivotal moment that shifted her career goals6:30 – Teaching and consulting: a new way to support the next generation of leaders8:00 – Defining “leadership curiosity” in a fast-paced, regulated environment11:00 – Why curiosity and creativity fade—and how to bring them back13:30 – A simple 5-minute exercise to reconnect and listen better17:30 – Empowering vs. solving: the leadership shift that reduces burnout21:00 – Soft skills, hard impact: balancing curiosity with accountability25:00 – What's next: embedding curiosity into leadership development28:00 – Final thoughts and takeaways from Dr. Shultice

From hospice nurse to Chief Nursing Officer, Erin Shadbolt, CEO of Ascension Living, discusses the importance of helping families understand the benefits of moving into senior living prior to a health need. Erin shares her unique journey from nurse and hospice caregiver to senior living executive, and the surprising lessons she's learned along the way.From bridging gaps in the healthcare continuum to reshaping the perception of senior living, Erin offers candid insights on why community living is a life-giving alternative to isolation.This episode was recorded at the NIC Fall Conference 2025Sponsored by Aline, NIC MAP, Procare HR, Sage, Hamilton CapTel, Service Master, The Bridge Group Construction and Solinity. Produced by Solinity Marketing.Become a sponsor of Bridge the Gap.Connect with BTG on social media:YouTubeInstagramFacebookTwitterLinkedInTikTok

What happens when you build a senior living company fueled by friends-and-family capital instead of private equity? How do you balance long-term ownership with day-to-day operations—and still foster a thriving workplace culture? In this episode of Foresight Radio, host Steve Moran sits down with Scott Goldberg, President & Co-Founder of Atlas Senior Living, to explore how Atlas has grown differently from many senior living operators. From innovative capital strategies to pioneering voice-powered technology with Amazon Alexa, Scott shares lessons on resilience, culture, and what the future holds for senior living.

Lori Alford, Founder and CEO of Avanti Senior Living, shares her incredible journey through the senior living industry, a personal health crisis that transformed her perspective, and how she's built a thriving career without sacrificing wellness or family. In this episode, Lori and Matt dive into proactive aging, brain health, boundaries, parenting, and leading a mission-driven team in one of the most demanding industries out there.Lori Alford is a visionary operator and developer reshaping the future of aging. With nearly 30 years in the industry, Lori blends fierce leadership with a passion for brain health, longevity, and proactive aging. A two-time brain surgery survivor, she advocates for wellness-first work cultures and deeply believes in modeling the behavior she expects—from setting boundaries to building resilience. She's also a proud mom, red light therapy enthusiast, and self-proclaimed cool mom.Timestamps:01:03 – Lori's unconventional start in senior living02:57 – From market research to operations to founder05:42 – What “proactive aging” really means07:36 – Surviving two brain aneurysms and transforming recovery into advocacy09:18 – Incorporating wellness into senior living teams13:23 – Red light therapy, saunas, and the Chick-fil-A experiment16:51 – Sleep, water, food, and rhythms: her essential wellness habits18:03 – Raising healthy kids through modeling and gratitude21:52 – Work-life integration vs. balance: giving yourself grace27:02 – Parenting reflections: being real, not perfect29:45 – Boundaries, burnout, and the future workforce34:01 – How Gen Z is changing the aging and wellness conversation36:33 – Advice to those just starting their journey in senior living

In this episode, show host Scott McCorvie describes the creation, mission, and overall purpose of Enhance Senior Living. Scott goes into the mission of enhancing our senior living industry, the solutions at Enhance Senior LIving to maximize your investment returns and results -- along with helping fuel your future growth. To learn more about Enhance Senior Living, visit the website www.enhanceseniorliving.com. To connect with show host Scott McCorvie, email him at scott@enhancesl.com. 

Thank you so much for listening to the Bob Harden Show, celebrating over 14 years broadcasting on the internet. On Tuesday's show, we visit with the President of American Commitment Phil Kerpen the importance of overturning the EPA's CO2 Endangerment Finding. We visit with Bruce Rosenblatt, the owner of Senior Housing Solutions, about the costs and services of Senior Living opportunities on the Paradise Coast. We also visit Linda Harden about President Trump's lawsuit against the New York Times, and we discuss the legacy of the assassinated Founder of Turning Point USA, Charlie Kirk. Please join us tomorrow when we visit with Cato Institute Chairman Emeritus Bob Levy and Professor Andrew Joppa. Access this or past shows at your convenience on my web site, social media platforms or podcast platforms.

Although prices on multifamily have come down, the market still hasn't stabilized. Rents have come down in many markets and expenses have increased, but prices have still not adjusted accordingly. Additionally, cap rates are still often lower than interest rates. Brian Burke, President and CEO of Praxis Capital, a multi-decade multifamily investor, has transitioned from multifamily to investing in senior living facilities. Brian is buying distressed senior living facilities and renting them out to professional operators on a NNN basis. The tenants are responsible for all expenses and sign 15-year leases with built-in rent increases. Brian is buying these facilities at huge discounts to replacement cost with high cash-on-cash returns. 

Ep 116: In this episode of The Retirement Success in Maine Podcast, Ben and Curtis welcome Jenna Biehn, Senior Sales Director at Dirigo Pines, to dive into the challenges and opportunities shaping the future of senior living. Jenna shares her path into the industry and the powerful lessons she's learned helping families make decisions about retirement living. From the growing shortage of units and caregivers to the risks of waiting until a crisis strikes, she explains why early planning and open family conversations are essential to preserving independence and choice. Jenna offers a candid look at the innovations and advocacy needed to prepare for the baby boomer wave, while sharing her own vision for retirement success. This episode delivers both practical guidance and a broader view of where senior living is headed in the years ahead. Chapters: Jenna's transition into senior living and what makes the work meaningful [03:07–04:32] The lack of planning and why families often make decisions in crisis [04:45–05:59] The looming supply-demand gap in senior living and workforce shortages [09:18–12:44] How lifestyle expectations are reshaping communities (socialization, enrichment, fitness) [22:21–26:26] Why planning early preserves choice and independence [27:17–32:10] Innovative models and advocacy needed to meet future demand [34:35–45:38] Jenna's personal vision of retirement success [51:23–54:27]

Senior living executive Kate Bertram shares how authentic, courageous leadership can boost engagement, retention, and culture. Learn why “Creating Stickiness” is more than just her book—it's a blueprint for the future of aging services.Kate Bertram is a senior living executive, workforce strategist, and author of Creating Stickiness. With over two decades of experience, Kate helps providers build cultures where people want to stay and grow residents and staff alike.Link to book. [00:00] Introduction by Matt[01:00] Kate Bertram's journey into senior living and the moment that changed everything[04:00] Leadership as “business with soul”—how Kate found purpose[05:25] The two leadership traits that matter most: authenticity and courage[08:50] What courageous leadership looks like under tight margins[11:55] Why people really leave (or stay) in senior living roles[16:30] Burnout vs. belonging: How to create meaning in daily work[20:47] Why most “total rewards” programs fail—and how to fix them[26:35] Where to start: The crucial first step to transforming culture[29:46] The gap between HQ initiatives and frontline reality[30:21] Balancing margin with mission: Dual stewardship in action[33:23] The Tide story—and why even small decisions leave big marks[34:16] Kate's closing thoughts on workforce, the future, and her book

Tune in to catch returning guest, Evan Friedkin, of Roobrik by Aline, to explore how integrated technology is transforming the way senior living communities connect with prospective residents and families. Evan shares how the merger of Roobrik and Aline continues to help sales teams have better, more meaningful conversations while reducing the time it takes to convert leads. Sponsored by Aline, NIC MAP, Procare HR, Sage, Hamilton CapTel, Service Master, The Bridge Group Construction and Solinity. Produced by Solinity Marketing.Become a sponsor of the Bridge the Gap Network.Connect with BTG on social media:YouTubeInstagramFacebookTwitterLinkedInTikTokMeet the Hosts:Lucas McCurdy, @SeniorLivingFan Owner, The Bridge Group Construction; Senior Living Construction Renovation, CapEx, and Reposition. Joshua Crisp, Founder and CEO, Solinity; Senior Living Development, Management, Marketing and Consulting.

Julie Podewitz, CEO & Founder of Grow Your Occupancy, recently talked with Kevin Yax, Sales & Marketing Director at Brookdale Garden Grove, an assisted living and memory care community in Orange County, California. Kevin is relatively new to senior living, but he has achieved remarkable success in a short amount of time. In just a little over a year in his position he netted 47 units to reach 100% occupancy. That is an average of right around a net of four a month! What is he doing to get these outcomes? Watch and find out! This episode of The Grow Your Occupancy Podcast is sponsored by Yardi.

Today we are talking about a deal we recently raised for, mostly so you can understand some of the things that happen behind the scenes and why we decided to have this be our first syndication for 2025.Read this episode here: https://tinyurl.com/2km2c2k9Why did it pass our test besides the fact that these partners have a great track record and having exited 4 deals with them?1. Low vacancy. There is a shortage of small bay industrial in the Phoenix market, people have been building large bay industrial. For the small tenants that need a smaller space, the available inventory is very low.2. Leases expiring and below market. A lot of the tenants had their lease expiring during our ownership, and the vast majority is below market, one of the largest tenants in the property with the biggest rent upside, already decided to not renew. We underwrote them not renewing a year from now, and they are significantly below market.3. IG Leases. All of the tenants except one are on industrial gross (IG) leases. We are converting all of the tenants to NNN leases. This will also increase the bottom line for our investors.4. Prohibited cost to build. Besides the market having very low vacancy, the vast majority of tenants being between 30 to 70% below market, and the leases expiring in the next 24 months, small bay industrial is cost prohibited to build. It costs more to build than the rents that you're going to get. We are purchasing the property at a significant discount to replacement cost. The property was built in 1999 and it looks really good.5. Location. The property has freeway visibility and is right next to the freeway exit.6. Market. Phoenix is a phenomenal market. It has a 16% population growth since 2010, a job growth of 45 to 50% since 2010. The personal income tax is very low at 2.5%. They're exploding in terms of plants, campuses, and jobs being created in the area. There is a $65 billion chip plant being created next to the property. There is a $20 billion Intel expansion. These are all creating jobs, which is always a great sign of a phenomenal market to be in.Final ThoughtsThe raise took a little bit longer than what we thought it was going to take. We did not finish the entire raise and still have a couple million to go, however, we did manage to close on the property and the couple million that we have to go is mainly for reserves, so that still needs to be finalized.Commercial Real Estate Tips Learned Recently:Turn expense into income: e.g., rent dumpster out.You can open a Senior Living home in any state if one tenant has a disability due to the ADA / Fair Housing Act.Always over-raise in case investors don't send funds.If a deal blows up, attorney often refunds fees (to keep you as a client).When you refinance, you don't pay taxes. This means you can cash out of a property, or get a line of credit, and buy another property without paying taxes on that down payment. Make sure you are comfortable with the LTV's when you cash out.Interest rates are always negotiable, you can get ~0.25% interest rate break if you open a checking/savings with lender.When developing a property from the ground up, always assume that the piece of land has all of these: endangered species, wetlands, easements, utility issues, trees – until proven otherwise. This means you need to get all of these reports and surveys done (amongst many other things)) before purchasing a piece of land for development.Join our investor club here: https://montecarlorei.com/investors/

Listen in as Dusty Olson, grandson of Senior Living founders Warren and Virginia Olson, talks about the huge impact for Christ that seniors can make on future generations. Also, hear his inspiring stories of relationship-building between generations.

Collaboration inspires innovation, and when operators like Matt Rezkalla, Managing Director at Agemark Senior Living, join industry leaders at the NHI Symposium, there are plenty of new ideas to come. Hear his story of breaking into the industry and why he chooses to stay and innovate on this episode of Bridge the Gap.This episode was recorded at the NHI Music City Symposium. Hear Agemark's Michael Pittore on Ep. 381.Produced by Solinity Marketing.Sponsored by Aline, NIC MAP, Procare HR, Sage, Hamilton CapTel, Service Master, The Bridge Group Construction and Solinity. Become a sponsor of the Bridge the Gap Network.Connect with BTG on social media:YouTubeInstagramFacebookTwitterLinkedInTikTokMeet the Hosts:Lucas McCurdy, @SeniorLivingFan Owner, The Bridge Group Construction; Senior Living Construction Renovation, CapEx, and Reposition. Joshua Crisp, Founder and CEO, Solinity; Senior Living Development, Management, Marketing and Consulting.

Your 60-second money minute. Today's topic: Senior Living Is Booming With Boomers

In this conversation, Scot Masters, an expert in dining services and senior living, shares his journey from restaurant kitchens to leading dining experiences in senior living communities. He discusses the unique challenges and opportunities in this sector, emphasizing the importance of creating meaningful dining experiences for residents. Scot highlights trends in the industry, the role of technology, and the significance of investing in food service leadership. He also reflects on the importance of relationships in enhancing the dining experience and the impact of spontaneity in creating memorable moments for residents.Guest: Scot Masters, Founder & Principal Consultant, Masters Consulting GroupScot Masters is the founder and principal consultant of Masters Consulting Solutions. With decades of experience across restaurants, hotels, and senior living communities, Scot brings a dynamic blend of operational expertise and human-first leadership. He's helped hundreds of communities transform their dining services into strategic, culture-building assets.Chapters00:00 Introduction to Scott Masters and His Journey03:04 The Impact of Dining in Senior Living09:07 Trends in Senior Living Dining Services11:31 Navigating Operations: In-House vs. Contracting17:30 The Role of Technology in Food Service23:41 Embracing Relationships in Senior Living26:24 Final Thoughts on Food Service in Senior LivingSEO Meta DescriptionHow can spontaneity and hospitality transform senior living dining? Consultant Scot Masters shares insights on emotional impact, AI trends, and elevating food service into a true experience.

Send us a textWhat if aging wasn't about slowing down, but about redefining oneself and embracing new opportunities? In this episode, we explore an innovative approach to campus design that brings generations together, creating vibrant communities where education inspires lifelong growth and self-discovery.We talk with Alejandro Giraldo, Principal and Senior Living practice leader at Perkins Eastman, about a growing trend that's quietly reshaping higher ed and senior living alike: older adults moving into student housing. As colleges face enrollment declines and empty dorms — and seniors seek more connected, enriching places to age — a new kind of community is emerging. One where dining halls, libraries, and lecture halls become shared spaces for lifelong learning and intergenerational exchange. Alejandro unpacks what it takes to design for this overlap, and why bringing seniors to campus might just breathe new life into both aging and academia.https://www.perkinseastman.com/people/alejandro-giraldo/

In this Abundance Thursdays episode, Vinney Chopra and Gualter Amarelo reveal why some asset classes can thrive no matter what the economy is doing—and how you can position yourself to benefit. From buying name-brand hotels at steep discounts to uncovering hidden opportunities in senior living, this conversation is packed with insights you can use today.