Get Rich Education

#23: John Lee Dumas, likely the world’s best-known podcaster, joins us today. John has grown the popular Entrepreneur On Fire podcast to generate several million dollars of revenue every year. Listen to this week’s show and learn: 02:31  Keith is on a mission to turn more “nobodies” into “somebody” than anybody. 04:10  A great tip for those that manage their own investment properties. 05:15  Keith is picky with whom he has on the show, and why he arranges episodes in a certain order to best serve you. 07:09  Why Get Rich Education chooses to release episodes on Fridays. 07:51  The Get Rich Education podcast is a money loser. Keith opens up with how he feels about podcasting. 11:21  The importance of relationships. Attend events in-person. 12:32  John Lee Dumas has pushed the limits of the podcasting frontier and helps others start podcasting with Podcasters Paradise. 15:31  John Lee Dumas makes his debut on Get Rich Education. 18:25  Why John began podcasting and how he does a show 7 days a week! 23:25  When

#22: Jay Hartley, Director Of Investments at Classic Property Management in Arlington, TX acquires, leases, and manages property in the Dallas-Fort Worth (DFW) metro. They’re often newer-built brick single-family rental homes. Listen to this week’s show and learn: 03:14  Why Keith lives in Anchorage, Alaska. 06:03  Comparing Memphis, TN and Dallas-Fort Worth, TX real estate investor markets. 08:12  A quick determination of how a property can provide you with monthly cash flow. 13:44  DFW’s “sweet spot” for investment properties is between $130,000 and $170,000. 15:26  How Jay advises you about higher Texas property taxes. 18:15  The character of your tenant and occupancy rate in this market. 27:35  Property Manager interview role-play with Jay Hartley. 32:54  How Classic Property Management screens tenants. 38:26  Classic’s fee structure, monthly reporting, and how they pay you your cash flow. 41:20  Jay wants to interview prospective investors to see if they’re a good fit for Classic. 42:04  Bonus: Listeners

#21: Get Rich Education is about you. In a personal episode, this turns around and you learn more about your host, Keith Weinhold. You also discover Anchorage, Alaska’s real estate market, economy, and great quality of life. Listen to this week’s show and learn: 02:06  The parenting influence that Keith grew up in helped foster an abundance mentality. It wasn’t wealth. 04:58  Keith spent a year living in a swimming pool maintenance hut. 08:00  Moving from Pennsylvania to Anchorage, Alaska. 09:10  The time and money lies people tell themselves. 11:53  You cannot buy happiness. You live happiness. 14:10  The first property Keith ever bought was an Anchorage four-plex building. 18:10  The secret is this: “There is no secret.” 22:12  You can be a fountain or be a drain. 23:23  Anchorage, Alaska and its real estate market. 26:15  Alaska’s #1 economic driver is oil, making it one of the wealthiest US states. North America’s largest oil field is in Alaska. 27:50  Anchorage has the 2nd-busiest cargo airport in the Un

#20: Vocabulary is integral to advancing your investor life. It attracts the right people so that you can form the right relationships. Learn how these terms are defined in a clear way, used in an example, and how you might use them in a sentence. Listen to this week’s show and learn: 02:28  Keith discusses New York City. 06:55  How you pull yourself up from middle class. 09:28  Being the best version of yourself. Vocabulary Terms: 10:44  Accredited Investor. 13:08  Appraisal. 15:30  Assessment. 16:35  Capex (Capital Expenditure). 17:33  Capital Gain, Capital Gains Tax. 20:08  1031 (Tax-Deferred) Exchange. 23:12  Debt Service. 23:48  Mortgage. 25:06  Rate Hike. 29:12  Rent Control. 30:07  ROTI.   Resources mentioned:  Investopedia.com Investor.gov Janet Yellen MidSouthHomeBuyers.com Rent Control laws by state Get a free audiobook & 30-day free trial at AudibleTrial.com/GetRichEducation Join the Facebook Page at Facebook.com/GetRichEducation Now on Twitter! @GetRichEd

#19: Benjamin Franklin said, “In this world, nothing can be said to be certain except death and taxes.” Has today’s guest, Rich Dad Advisor Tom Wheelwright, CPA, turned that upside down with his popular book, Tax-Free Wealth? Tom’s firm could help you permanently reduce your taxes, like he has done for Keith. That’s like a risk-free return. Listen to this week’s show and learn: 03:30  Michael Jordan had coaches and teammates. To grow large, you’ll eventually need them too. 06:25  Over the course of your life, your greatest financial expense will be taxes. 11:43  This is the largest new tax change for real estate investors since the 1980s. 15:07  How to save tens of thousands in taxes with a Cost Segregation. 22:20  The “magic” of depreciation. 29:31  Why you should pay zero tax on your real estate – no capital gains tax and no tax on your cash flow. 32:35  Why not to use your IRA to invest in real estate. 35:55  The tax benefits of oil & gas direct investing vs. oil & gas stock investing.   Resources

#18: Cash flowing real estate is not confined to residential, commercial, industrial, office, agricultural, retail, and storage. Consider oil & gas wells. Mike Mauceli, CEO of Reef Oil & Gas Companies in Richardson, Texas, explains this direct investment opportunity in producing oil & gas wells. Monthly cash flows and terrific tax benefits are typically provided to investors. Listen to this week’s show and learn: 02:03  What is a real estate “syndicator”? 09:08  The minimum amount one needs to invest with Reef. An investor does not need a certain credit score, liquid reserves, debt-to-income ratio, nor accredited investor status.  11:00  The difference between investing directly in Reef Oil & Gas Companies vs. oil & gas stock. 13:35  Today’s drilling techniques may reduce the risk of “hitting dry holes”. 22:03  Interests in reducing environmental impacts of oil & gas extraction. 25:44  Does Reef have “skin in the game”, investing alongside the individual investor like you? 28:14  How R

#17: Thoughts are not enough. You must act. Recorded February 1st, 2015, in Anchorage, Alaska, Keith provides a motivational performance this week. This content has spurred his students from thought into action by purchasing their first-ever investment real estate. Listen to this week’s show and learn: 01:20  You own your mind free and clear. There is no mortgage debt against your mind. 02:58  This common advice that you have heard must be specifically avoided it if you ever want to be successful. 07:50  How long should you get educated on real estate investing before you act? 09:48  Three specific real estate investing actions for you to take. 12:00  Mortgage “Pre-approval” vs. “Pre-qualification”. The value of meeting with your mortgage lender, even if you think you can’t get a loan. 16:07  Section 1031 Tax-Deferred Exchanges and “Cash-Out” Refinances can amplify your cash flow and leverage. 22:52  If Keith could start all over in real estate investing, these are the 3 things that he would most want to do d

#16: “Power Connector” Judy Robinett, author of top-selling “How To Be A Power Connector: The 5+50+100 Rule For Turning Your Business Network Into Profits” joins Get Rich Education today and tells you how to find investment money. Listen to this week’s show and learn: 01:25  Real estate syndication and business crowdfunding defined. 04:48  It’s not what you know, it’s who you know. 07:17  How do you “get in the right room” to get your deal funded? 10:20  The difference between angel investors and venture capitalists. 13:13  Where you find a network and investors. 17:34  How do you learn about which people to avoid? 19:35  What is “Reputation Capital”? 20:08  How to best use social media for networking. 21:35  Why there aren’t more women in business. 24:24  The “5+50+100 Rule”. 27:40  Another person must know, like, and trust you before they fund you. 29:28  The value of taking an influencer to lunch. Ask “Who else do you know that I should talk to?” 31:33  People don’t lack resources. They lack resourcefulne

#15: Rich Dad Advisor Garrett Sutton provides knowledge with how to incorporate and protect your business and real estate interests. Listen to this week’s show and learn: 06:33  Garrett tells us that one of the better US states for protecting one’s assets has now become more vulnerable to outside attacks. 06:59  More states’ courts are ruling against protection for single-member LLCs. 08:57  Garrett explains the importance and meaning of protecting your “corporate veil”. 11:56  How to protect oneself with a four-plex and FHA 3.5% down payment. 14:15  How to change an existing property from individual ownership to an LLC. What’s special about Wyoming LLCs and how you can use one. 17:42  Who is liable in a slip-and-fall case – the property owner or the property manager? 18:18  Umbrella Insurance. 20:34  Can one “overdo it” with too much asset protection? 22:53  Garrett’s real estate investing preferences. 25:16  What Garrett would tell a 27-year-old investing enthusiast today. 27:50  Tell Corporate Direct / Sut

#14: Listen to this week’s show and learn: 01:39  Keith opens up about the only losing investment property he has ever owned, what made it a loser, and why he just sold it this week. 08:24  With every investment deal, you either get the profit or you get the lesson. 10:00  For Tom Hopkins International Sales Academy Feb. 20-21 in Orlando, FL, use the Discount Code below for a deal that GRE negotiated for your 2-day tuition. Optionally, you may also e-mail John@GetRichEducation.com and on a first-come, first-served basis, GRE can provide you with a free 3-night stay in a condo room for the event. 14:32  Here in 2015, many U.S. turnkey real estate providers have little or no inventory. 15:25  Part of the first family of American precious metals, our guest is Anthem Blanchard. He owns a precious metals storage and trading company, www.AnthemVault.com. 18:53  Anthem’s father, Jim Blanchard, was the influential hero when President Gerald Ford legalized gold ownership in 1974. 20:30  Why does gold have value?   Res

#13: You, your investments, and your real estate will all soon be dramatically affected by the disruptive invention of driverless cars. The good news? Today you can learn how to position yourself to make this innovation profitable for you. Listen to this week’s show and learn: 01:15  Driverless cars, 3-D printing, and drones will dramatically affect you. 02:28  People often scoff at the notion of coming change. Then change comes fast. 05:14  It’s easy to forget that horse travel used to dominate American transportation. 07:37  The invention of the automobile populated the suburbs. 09:43  Today, many cities have more than half their area dedicated to streets and parking for cars. 13:16  Ride-sharing services like Uber have already diminished the demand for parking lot real estate. 14:12  Unused parking spaces and smaller roads are coming. This will change real estate values. 15:47  Most agree that driverless cars will be for sale to the public by 2020. This will improve your life. 21:32  Driverless cars will m

#12: You sell yourself everyday. The World’s #1 Sales Trainer, Tom Hopkins, tells you how to sell - whether it’s selling a piece of real estate, being promoted at your job, or selling an idea to your spouse. Make your life and business explode with these ideas. Listen to this week’s show and learn: 02:05  Tom Hopkins interview begins. 03:22  How Tom sold 365 homes in 365 days. 04:20  Is one “born to sell” or if can it be a learned skill? What’s better for sales - introvert or extrovert? 07:47  The seven fundamentals of Selling: Prospecting, Initial Contact, Qualification, Presenting, Handling Objections, Closing The Sale, Referrals. 11:32  The best strategy for more referrals, which are where most of your sales come from! 13:03  How to overcome buyer objections, including when one says, “I want to shop around”. 15:48  The vital importance of passion. 20:23  How to overcome being told “no”. Why the world’s wealthiest people “have no guarantees”. 26:24  Words you must avoid when selling, and the million dollars

#11: Inflation is like your hidden tax. Listen to this week’s show and learn: 02:10  Spending is more fun than saving. 03:33  Don’t live below your means. 05:30  Why a “good rate of return” is not enough return for an investor. 07:18  Why millionaires will soon be poor people. 08:45  How currency inflation is invisible. 12:35  Why the stock market must hit all-time highs every day just for you to break even. 13:00  The Consumer Price Index (CPI). 14:47  Why the U.S. and most major nations want more inflation in the future. 15:55  The power of “tilting the chart”. 18:14  How you will beat inflation by understanding real estate leverage ratios.   Resources mentioned: Consumer Price Index at www.bls.gov/cpi/ keith@getricheducation.com

#10: Vocabulary is key to advancing your investor life. It’s also important for attracting the right people so that you can form the right relationships. Learn how these terms are defined in a clear way, used in an example, and also how you might use them in a sentence. Listen to this week’s show and learn: 02:16  Keith comes to you from Los Angeles, CA today. Many investing shows assume that you already know the “language of investing”. But if you don’t first learn these basic terms, you could get left behind.  05:32  Arbitrage.  07:37  Cash Flow. This includes the meaning and significance of “V-I-M-T-M”. 10:05  Cash-On-Cash Return. 11:39  Capitalization (Cap) Rate. This includes a key explanation of why Cap Rate does not include your mortgage cost. 16:28  Commercial Loan. 19:06  Dividend. 20:53  Equity. 21:37  FICO Score. 22:42  Inflation. 24:22  Interest, Interest Rate. 24:46  $K. 25:28  Liquid, Liquidity. 27:11  Superhero Syndrome.   Resources mentioned: www.Investopedia.com www.MyFico.com

#9: Discover how to create another income stream with a durable asset like real estate in Memphis, Tennessee, and not have to do the work on your own. Listen to this week’s show and learn: 00:38  Most people only have one income stream in their life. Learn why to establish more than one. 01:57  Keith explains “turnkey real estate investing”. 03:37  Interview with Terry Kerr of Memphis, TN’s Mid South Home Buyers begins.  05:30  Memphis, Tennessee’s economic and demographic makeup is what makes it a strong income real estate market. This is largely due to the fact that Memphis is the United States’ distribution hub. 08:16  The character of Memphis properties, and their rent-to-value ratios. 12:39  Availability of financing for Memphis turnkey properties. 13:50  Terry describes how there are efficiencies in having one company both provide and manage the property for investors. 16:04  The available inventory level of Memphis investment properties. 18:33  Tennessee’s Landlord-Tenant Law and how that is advantageo

#8: Discover how to create another income stream with a durable asset like real estate, and not have to do the work on your own. Listen to this week’s show and learn: 01:37  How to put less than a 20% down payment on your primary residence, yet still pay zero direct PMI premium. 07:36  How Keith can make you a more successful investor than him, faster than him. 08:46  In real estate investing, the market is more important than the property. 11:22  Why to consider real estate investing outside of your home area – and how to find a trusted team to do all the work for you. 11:43  The real estate Rent-To-Value Ratio (RV Ratio) and its importance. 14:18  How to begin researching and identifying profitable real estate markets, and avoid riskier ones. 18:53  Income property investing is based on facts, not feelings. 21:05  Memphis, TN - Its geographic significance to real estate investors. 25:06  Philadelphia, PA – Keith’s recent on-the-street observations in this turnkey real estate market. 31:52  Philippines – Kei

#7: Get Rich Education’s inaugural interview is with world-renowned economist, author, consultant, and speaker Richard Duncan. He informs us that economic growth is no longer driven by production expansion, but rather by credit expansion. Richard looks into his crystal ball. He tells us what to expect for 2015 and 2016 with respect to the stock market and the economy. Richard has kindly provided Get Rich Education listeners with a 50% discount to his Macro Watch video newsletter. Use the Coupon Code “gre”. Learn more about Richard Duncan and subscribing to his video newsletter, Macro Watch,at: www.richardduncaneconomics.com 00:50  Keith will tell us how to avoid directly paying Private Mortgage Insurance on your home in the next episode. 03:52 Richard Duncan interview begins. 06:31  Today’s economy works completely different than what is in our textbooks. 07:34  Economic growth is no longer driven by investment and savings, but rather credit creation and consumption. 09:56  Since 1952, 2%+inflation-adjusted c

#6: Would you rather be debt-free or financially-free? Did you know that for most people with home mortgages, their approach to home equity management actually prevents them from being financially free? In this no-holds barred episode, which includes material that has shocked some of Keith’s students, your paradigm with what you thought was true about money management can shift dramatically.  Homes are for housing people. Not storing cash.  Opportunity cost is opportunity lost.  Learn about one of the greatest under-utilizations of using OTHER PEOPLE’S MONEY in order to achieve the freedom that you and your loved ones seek. 

#5: You cannot get what you want until you know what you want. One way to know what’s important to you, is how you feel when that “something” is taken away.  In real estate investing, the property is not nearly the most important thing.  This episode is a valuable tool in determining what really matters in life to you and your loved ones.  Real estate isn’t ultimately what you want. It is merely a resource and a means to get more of what you want. Find meaning and laugh along with some funny plays on words!  Learn that you should always be a student.  

#4: We answer your listener questions, including: “How do I begin real estate investing with little or no money?” “What are your tips for starting a business?” “How do I increase income on an existing rental property?” Next, is the classic showdown. Which is the better asset class – Stocks or Real Estate? We list fifteen key criteria, comparing stocks and real estate, and see which asset class wins more of the fifteen rounds in this heavyweight face-off! Especially insightful is Keith’s description of how using a loan in real estate investing hedges one against inflation over the long-term.  Real estate’s stability as an asset class is featured as one distinct advantage. It includes a fascinating explanation as to why stability provides you with better returns than volatility.