300: Today’s Hottest Rental Type, Why Money Is A Taboo Topic
Play episode · 45 min

Homes with many small bedrooms are hotly desired today.

Why? In an economic rough patch, people need roommates. Secondly, home offices are more popular than ever.

Residents increasingly want yards today too. Gardening is popular as a hedge against disruptions in the food supply chain.

This all makes single-family homes more popular than apartments.

*The entire episode transcript is below.*

The debt-to-income ratio requirement is positioned to be removed from qualified mortgages.

Three listener questions are answered: 

1) What about CapEx expenses? 

2) What about all these property notices I get in the mail? 

3) What happened to the coffee and cacao providers?

I give you four reasons about why money is a taboo topic. 

Learn the least likely money topic that people are willing to discuss.

The most I ever made at my day job was $108,000.

People must stop equating net worth with self-worth. 

Resources mentioned:

April Home Prices Grew 5.5%:


Why Money Is A Taboo Topic - Ally Bank survey:


The Atlantic:

Why Americans Don’t Talk About Money

Mortgage Loans:


QRPs: text “QRP” in ALL CAPS to 72000 or:


By texting “QRP” to 72000 and opting in, you will receive periodic marketing messages from eQRP Co. Message & data rates may apply. Reply “STOP” to cancel.

New Construction Turnkey Property:


Best Financial Education:


Top Properties & Providers:


Follow us on Instagram:


Keith’s personal Instagram:



Welcome to Get Rich Education. I’m your host, Keith Weinhold.


Talking about today’s hottest rental type, then my favorite guest is here on milestone Episode 300 - because that guest is you - as I help with your listener questions about your rental property operations, then “Why Money Is A Taboo Topic” (why DO people hide their salary?), and finally a little Episode 300 bonus. All today, on Get Rich Education.


Hey, you’re inside GRE. From Phoenix, AZ to Phoenixville, PA and across 188 nations worldwide. I’m Keith Weinhold. 


This IS that show that’s created more financial freedom than nearly any show in the world.


You’re listening to milestone Episode 300 of Get Rich Education. More on that later.


The hottest INCOME PROPERTY housing type today could very well be single-family rental (SFR) homes that have many small bedrooms. 


Four bedrooms is often better than three. Three is better than two.


Yeah, today, a high number of small bedrooms is being favored over fewer large bedrooms.


For one thing, this is because as the economy is in a rough patch, more people seek roommates to share housing costs.


Also, with more people working from home now, they want the extra bedroom for quiet office privacy.


You probably already understand that more residents prefer SFRs over apartments to avoid common areas like laundry rooms and hallways and even elevators.


Another reason boosting SFR demand today is something that you might be overlooking when it comes to rental property … because often, you’re thinking about things INSIDE the property like amenities, and square footage, and layout. 


But another reason renters increasingly want single-family rentals are yards. Now sometimes, duplexes might have a fenced yard for each side too, of course.


But … why are yards more desired today?


Well, there are a few reasons. In the pandemic, people have discovered gardening like the hunter-gatherers did.


Yeah, gardening as a hedge against these disruptions in the food supply chain.


In fact, Burpee Seed Company recently had the highest sales in its 144-year history.


People are gardening. In fact, the homeowner’s association in my own neighborhood recently put it to a vote among residents about “OK’ing” having a second detached building in your backyard (only 1 maximum is allowed now) and that’s because more people want to have a greenhouse today.


Gardens and greenhouses - these are most conducive to single-family rentals.


People are even buying egg-laying chickens like never before. It’s kind of a back-to-basics subculture that’s emerging.


Yes, humans are mammals and mammals need sustenance! Haha.


You need food and you need real estate.


In the midst of The Great Shutdown, people want to do more with their lawns. 


Lowe’s & Home Depot are doing really well - and they’re selling home-dwellers a lot of things like Inflatable pools, patio furniture, and trampolines.


Then back indoors, yeah, you may very well want to tilt your new property buys into SFRs with more small bedrooms.


Sometimes, older SFHs can have four or even five bedrooms. One reason for that is that families had more children generations ago.


Family sizes are smaller now. So if you still have a 4-5 bedroom place, it can work well for either roommates or home offices.


If you're the "hands-on" type, building a wall to divide a large bedroom has rarely been more lucrative than it’s been lately.


Now, one 300 sf bedroom is pretty big. Dividing it into two bedrooms of 150sf each is paying off more than it has in the past.


They are some housing trends in the pandemic - demand for SFR with more small bedrooms and a yard for a garden.


In the pandemic, the broader economy is getting "bailed out" more often than a bank behaving badly.


It's not just quantitative easing, dropping interest rates on every loan type, or loosening bank reserve requirements or putting free checks into unemployed people’s hands.


Many real estate investors are getting support … almost like they had opened their own GoFundMe account.   


Low supply keeps housing prices buoyant. Low mortgage rates keep demand high. Forbearance keeps borrowers from defaulting - so that further supports prices.


Now, the debt-to-income ratio (DTI) requirement is positioned to be removed from qualified mortgages.


This means borrowers that have higher existing monthly debt payments on everyday things like their car or their credit cards could now qualify for new mortgage loans - when they couldn't previously.


Well, what this does is that it creates a larger buyer pool. More people have the capacity to qualify and buy property.


This larger buyer pool serves to further push up real estate prices - and that’s both investment property and primary residences. 


Well, eliminating the DTI is great news if you want to lock up more property at these historically low interest rates.


But there can be too much of a good thing. It's a call-to-vigilance to be sure we don't return to those loosey-goosey days of, say, 2005.


That's when virtually anyone with a name and a signature could get a loan. Borrowers lied about their income on loan applications and the income wasn't checked - it wasn’t even confirmed in underwriting.


So then, people with historically low-paying jobs like movie theater ushers & dishwashers & pedicurists could sometimes own a fairly lavish home back then.


When appreciation stopped in 2007, liar-borrowers had no equity to remove for servicing the payments … and that whole thing didn't end well. 


We're nowhere near that point. But watch that pendulum swing. 


If you’re buying for resilient cash flow, you’re not so price sensitive anyway.




The first one of your listener questions today comes from Chad in Saline, Michigan.


Keith, I like your easy-to-remember VIMTUM explanation of expenses but why are you excluding CapEx expenses from the cash flow calculation?


OK, thanks, Chad.


Let me translate if you, the listener, are uninitiated on this. 


The easy way to remember how to calculate your monthly cash flow is to take your rental income and subtract out your mortgage (that’s principal & interest) and your operating expenses, which I call your VIMTUM. V-I-M-T-U-M. 


That’s just an acronym I use for your regularly, recurring operating expenses and VIMTUM stands for Vacancy, Insurance, Maint., Taxes, Utilities, and Mgmt. V-I-M-T-U-M


What Chad is asking about are CapEx - which a shorthand way of saying Capital Expenditures.


CapEx means large, IRregular expenses that an investor or even a homeowner - often incurs with their property over longer periods of time.


An example is, what happens when your roof needs to be replaced? A lot of roofs have a 25-year life expectancy.


Now, your property’s water heater has more like a 10-year life expectancy.


Chad is basically asking me how I’m accounting for that when figuring cash flow. I think I addressed this on a prior episode, but it’s been a long time so I’ll bring a fresh angle to the answer.


First of all, I’ve mentioned previously that it's prudent to keep 3-5% of the TOTAL value of your property portfolio in a liquid side fund. 


So if all your properties are worth $1M, you’d have $30K - $50K in cash or cash equivalents.


If you’ve just got your, say first turnkey at $100K - have $3 to $5K set aside.


Note that when you qualify for a mortgage in the first place, mortgage loan underwriting typically requires that you have reserves already.


And, by the way, this liquid side fund should be in addition to any overall liquid emergency fund that you have in your life.


But, Chad, on your CapEx question, you might still be thinking ...


Yes, I want to take some of those dollars that you’ve felt compelled to put in a liquid side fund account monthly and factor THAT in to your property ROI. I get that. Here’s the thing.


If you follow … really … the entire wealth formula espoused here on the show, your CapEx expense should be limited. You’re going to pay less in CapEx expenses than other investors.


Why is that?

It’s because at the 8-to-10 year mark, which is before a lot of major CapEx items need attention, you’re going to sell your property and 1031 Exchange it into the next one - or hopefully into two at that point.


That is all driven by the fact that, after most any 10-year slice in the housing market, you’re going to have appreciation, hence accumulated equity.


As you know, home equity is unsafe, illiquid, and its rate of return is always zero.


So it’s really due to math and the loss of leverage that makes you move your property along before CapEx expenses kick in.


And with SFRs, you can sell to an owner-occupant buyer that typically get emotions behind the home and isn’t at all concerned that you were the one that enjoyed the new roof in its first ten years of use or whatever. 


Now, if you have substantial enquiry accumulation after 10 years on a property that performs really well and you want to hold onto it, then you might do a cash-out refi and have CapEx expenses like a new water heater.


So, thanks for your excellent question, Chad.  


One other thing I’d like to mention that a lot of real estate people don’t like to talk about are to, in general, run your cash flow projections fairly conservatively.


That is because, in real estate, unexpected expenses are more common than unexpected income.


Thanks, Chad.


The next question comes from Lori in Pasadena, CA. 


Lori says, “Keith, love listening to you. You’ve got the most relevant real estate show out there. Wow, thanks for that.  Things are going fairly well with the properties that I buy through GRETurnkey.com but with each buy, I get more & more of these various letters in the mai that I have to deal with.


The latest one is an annual property rental fee statement from Florida. Things like this continue to cut into my time … umm … and then Lori goes on to give another example.


OK, Lori. Yeah, what she’s talking about here … is that the Florida municipality - the town - where her rental SFH is located has this annoying little administrative charge.


They charge a whole $50 per year to Lori for this property because she’s an out-of-area investor that has the “privilege” of owning Florida rental property in their town.


This is basically like a tax excised by the town where she owns her property.


What something like this really is Lori is … a nuisance. Just reading the form, and figuring it out what it is, and seeing how that Florida town accepts the payment. It IS annoying. It cuts into your time.


In fact, I got a piece of nuisance mail for one of my apartment buildings just yesterday.   


This is from a utility provider - the natural gas provider to the building. Basically, the natural gas company is working on a high-pressure gas transmission pipeline, and the R-O-W for the pipeline is apparently within ⅛ of a mile of this apartment building of mine.


The letter said that the property residents should be informed.


Well, Lori, with the piece of nuisance mail that you received and the one that I got, here’s what you do. Get it out of your life. Get that nuisance mail out of your life.


Now, I don’t mean “throw it away”. This all comes down to one word - and that word is “manager”. 


What I did was get out my phone, I took a photo of this letter, sent the letter image to my Property Manager right away. 


I asked them to handle it - and also asked the manager to make sure to tell the letter sender that any future correspondence like this be sent to the manager, not me.


You know what we just did, Lori. We both just increased our ROTI. Yes, we just increased that all-important investor metric that’s even more important than ROI.


ROTI is your Return on Time Invested.


I’m a big proponent after having a professional Property Manager. Remember, it’s their job to handle communications with your residents like this - and it doesn’t cost you anything extra.


Remember to outsource these little nuisances to your PM.


Lori, I don’t know how many properties you have, but just say you have a total of ten rental doors. 


With a portfolio that size, some months, you might have what investors call “a perfect month” - that is, a month with zero repairs or maintenance in your portfolio.


But whenever you do, sometimes you might wonder - well, what did I pay the manager for? 


Well, you still paid your manager to collect the rent and pay your bills and itemize your statements, and just have the peace of mind that your tenants can’t get ahold of your DIRECTLY at an inconvenient time.


But ensuring that your manager handles all your nuisance notices such that you don’t even know that you got one … that increases your Return on Time Invested. 


Be that responsible owner. Do good in the world. You want a nuisance tax notice to get paid, you want your tenants to be informed about nearby utility work - but be sure to outsource it and keep your quality of life. 


Like I’m fond of saying, “Be sure your quality of life exceeds your cost of living”. 


Bottom line is - Use your manager. Thanks for the question, Lori!  


The next question is from Brian in Austin, TX. Brian says: 


Hi Keith,

I am an investor with $7 million in value across 32 properties. (Nice job there, Brian). I noticed you are not promoting coffee and cocoa any longer and was curious if there was concern or a reason behind it? Thanks, Brian.


Alright, Brian. What he’s referring to is that at GREturnkey.com - where our list of cash-flowing property providers is, there used to be a page for coffee investing there and a page for cacao investing there - and they’re both currently gone.


Brian, what happened is that, with the provider there - and its the same provider for both types of agricultural investment - that is, where you, the investor, get cash flow from the ANNUAL harvest of coffee and cacao is that that provider is having trouble with the deeding process where those parcels are located - namely, in Panama.


The provider is still delivering the land deeds to all the investors. But working with the municipality there is taking so long that this long, drawn-out deeding process was frustrating to some investors. 


In fact, it might have taken me … something like two years to get my deeds for my coffee farm parcels. I don’t really remember - but it took awhile.


Anyway, those offerings aren’t currently on GREturnkey.com because the provider is changing their model, in part because of the slow deeding process. They’re listening to your input and responding. They’re doing, really, what you would want them to do.


So they are moving toward a Private Placement model. That way, they can issue the share certificates in a matter of weeks, not years like it is with the deeds, and they can focus their time and effort on actually developing, growing and operating the business.


Another is that under the deeded model, they couldn’t accept IRA funds any longer.


So, expect coffee and cacao to be back on GREturnkey.com at a later time. That’s why they’re not there now. There aren’t any more deeded parcels available - and they’re changing their model. 


But, of course, they’re still working on getting the deeds for those that have bought those farm parcels in the last few years & still don’t have their deeds.


The main reason that you’ll see a provider be removed from GREturnkey.com is that they’ve run out of INVENTORY in that market. 


If a provider doesn’t have inventory & doesn’t actively source it, then there’s no reason to waste your time & have it there at GREturnkey.com.


That is all for our listener questions today.


Homes prices for April grew 5-and-a-half percent year-over-year despite the pandemic. Yes, real estate is slow moving and we’re still looking at April data here near mid-summer.


That article is in the Show Notes for you. 


My guess is that I wouldn’t really expect an appreciation rate that high over the NEXT year.


But one thing that is supporting prices are those “erstwhile” mentioned low, low mortgage interest rates that are even lower than the ocean floor at this point. 


Let’s look at mortgage interest rates decade-by-decade. Gosh, this is just remarkable. 


It gives you perspective sort of like a while ago when I played those cornball television commercial ads from the 1980s where you could finance a car for an 11% APR - and that was touted as a great deal.


Well, let’s look at the average 30-year fixed OO mortgage rate that was issued in the 1970s.


It was 8.9% then. That was the average rate. Inflation was increasing.


By the 1980s decade, inflation had reached a crescendo. This was the Voelcker Era - where Fed Chair Paul Voelcker famously raised interest rates to try to stomp out runaway inflation.


And Voelcker’s bold move WAS successful. But this helped result in a 1980s decade mortgage rate of 12.7%. Gosh, 12.7%.


By the 1990s, they settled down to 8.1%.


By the 2000s decade, down to 6.3%. Yeah, that sounds about right - I bought my first ever property in 2002 at right about that rate - it was 6-⅜%.


By the 2010s decade, we had low interest rates to pull us out of The Great Recession and they stayed low. In fact, the average for the 2010s decade was … 4.1%.


That felt unprecedented at the time. Well, today, take another full percentage point off that yet. Mortgage interest rates are 3.1% today … as we’re here early in the 2020s decade.


Just astonishing. 3.1%.


Now, interest rates correlate with inflation. So today we’re in a low inflation environment and hence, a low interest rate environment.


Well, coming up here on the show next week, one of the world’s most prominent economists will be on the show with me and we’re going to discuss Inflation vs. Deflation. 


Which side is winning … and what is going to happen next. Of course, we’ll discuss the state of the broader real estate economy and so much more as well. That’s next week.


I hope that you are doing well. We’ve been largely sheltering-in-place here at our home in Anchorage, Alaska. I’m coming to you from Anchorage today.


Next week, if all goes as planned - it’s an awkward time for cross-continental travel, but I’ll be flying into Buffalo, New York, and then spending a good chunk of this month in both western New York State and mostly Pennsylvania … as I’m visiting family.

I think I’ve told you before that I feel like I won the “parent lottery”.


My terrific parents have lived in the same upstate Pennsylvania home since 1974. They've also had the same phone number for all 46 years. 


And when I visit them, I still sleep in my same bedroom that I slept in as a baby. I love Curt & Penny Weinhold - and I am so grateful and inspired by their example of goodness and stability.


As far as events - if you want to meet in-person. I had hoped to do meetups in New York City and Philadelphia this summer, as well as a Harrisburg, Pennsylvania real estate field trip. But COVID has wiped out all of that.


Of course, as always, you can keep up-to-date on all of that GetRichEducation.com/Events


Some other live speaking events have gone virtual. For example, I’ll no longer be speaking in Birmingham, Alabama at the Spartan Summit this coming October. 


But I will be speaking at their “event gone virtual”. In fact, I’ll be the speaker KICKING OFF The Spartan Summit. Again, learn more at GetRichEducation.com/Events.


I hope to do some or all of the live New York City, Philly and Harrisburg events next year. 


For milestone Episode 300 here, do you like the Get Rich Education … theme music? Or did you at least, wonder where the now-familiar-to-you music comes from.  


Well, we don’t purport to be any type of music channel. This is an investing show.


But this one time, for Episode 300, we’re going to play all of it - it’s two minutes long - at the end of the show today. 


We own the royalty-free track. This show launched in 2014, and this track has been our theme music since late 2017. It’s from a DJ named Wicksford and it’s called “Cannot Be Stopped”. 


But first - why don’t people talk about money? Why are other people so secretive about their salary? Why is money considered a taboo topic, then anyway? That’s next. 


I’m Keith Weinhold. You’re listening to the wealth-building Get Rich Education. 



Welcome back to Get Rich Education. You are listening to milestone Episode 300.


We’ve been talking about some of your harder real estate investing skills today.


Well, what about mindset?


Why Don’t People Talk About Money? Why is money a taboo topic - one of those things that you just don’t talk about? It’s taboo stuff - right up there with politics, sex, and religion?

Well, if people would stop equating self-worth with net worth, then talking about money would not be this big taboo thing.


According to a survey conducted by Ally Bank, 70% of Americans think that it’s rude to talk about money. 

Just, get this - Research shows people would rather talk with a stranger about an STD than their salary. Oh geez.

You’d rather tell someone you have an STD than tell them how much you make?

People would rather admit to contracting gonorrhea than fessing up that they only make $54,000 a year. Sheesh!! 

Oh, gosh … and did I really just use that word on the show. Especially here on Milestone Episode 300?

So … well why this … society-wide gag rule?

Why does this taboo exist? I think that it all boils down to about four big reasons.

People don’t talk about money because, most people don’t have much money. So there’s this negative association.

Talking about money is proportionate to talking about problems. If you’ve had more financial success in life, then it can be easy to forget that so many people think this way. 

The second reason that “money talk” and especially “salary talk” is taboo is that because if you have a lot of money … you know what can happen to you? 

Someone might ask you to borrow it. Well, lending money to family or friends is a great way to strain relationships.

If they’re late to pay you back, then it’s rude for you to even ask someone when they’re going to repay you.

Another reason that there’s a prohibition of “money talk” … at least in America here … is because many Americans put a higher value on PRIVACY than other societies do.

Now, I think that there are gradations of what money TOPICS are acceptable to discuss and what are not.

I’m pretty sure that I’ve told you on a previous show - though at this point, 300 episodes, sometimes I can forget - but I’m pretty sure that I told you that the most that I ever made at my day job before quitting it more than five years ago was $108K.

At times, I had to work more than forty hours a week for that. 

Now, that might be $125K in today’s inflation-adjusted dollars, but that salary was no longer that interesting to me when my real estate provides value to people with very little of my involvement.

Now, I’m kind of a rare person for me to even mention - a past salary like that - even though it was kind of in a former life of mine.

In America, if something costs even more than a few hundred dollars, MAYBE you shouldn’t mention it. If your friend bought a canoe for the lake - you might want to know how much it cost, but you’re hesitant to ask them the question.


When we talk about gradations of cultural acceptance, I think that if you inquire about the cost of your friend’s lunch yesterday—that’s a transaction with pretty limited connections to the past and future—and that generally isn’t off-limits.


Now, in Israel, people OPENLY discuss salary. Why is that? Well, there are a couple reasons. It’s because a place like Israel historically places a lower cultural premium on privacy. 

Another reason … is that a place like Israel and other places in the world have higher levels of labor unionization. You see, “once it’s collective bargaining, it’s not as personal”.

When you’re a member of a labor union, you often know each other’s job classification and that job title is rigidly tied to a fixed and publicly-viewable salary or wage. 

And then, really another reason for the cultural “Money talk taboo” in America, is because asking someone what they earn means that you are indirectly questioning their personal worth.” 

“By contrast, in China personal worth is not primarily indexed to financial worth, but rather one’s ‘quality’ or what they call “SUZZ-eee” (suzhi). 

Your moral and ethical values cannot be reduced to economic value.” Yeah, I really respect that.

Getting back to the Ally Bank survey - what they found is that when people DO discuss finances socially, nearly one half of the survey respondents said they prefer to keep it neutral - for example, talking about price comparisons on goods and services like granola bars or a manicure, or where to find a better interest rate on a savings account."

It also found that younger people are more open about discussing money

More than any other age group, millennials (59 percent of them) acknowledged talking with others about their income, savings and debt, even though nearly two-thirds agreed it is rude or inappropriate to talk about money in a social setting. 


In fact, almost half say they disclose their income to others, and 62 percent say it is important for them to surround themselves with people who they feel are financially secure.

So, even kind of the second-youngest generation today, Millennials, would rather be around people that are financially-secure. Hmmm … that’s really “telling”. 


Now, what I found interesting is that the survey revealed that:

  • The majority of respondents said they discuss sensitive money matters with family is 69 percent, with financial professionals is 26 percent, and with friends is only 22%, while only 8% percent said they discuss sensitive money matters with work colleagues. 

That shows more there that when you to talk about it - it’s deemed to be a real breach of professionalism to discuss this stuff at work.


  • People are most likely to disclose their income (39 percent) over savings (30 percent) or debt (29 percent) to family and friends. That tells you that disclosing debt is the most embarrassing for people.

Of course, that’s mainstream society. 

Here at Get Rich Education, displaying the amount of good debt that you have probably says something rather positive about your real estate portfolio size.


Now, in WORKING-CLASS communities, the money taboo can be weaker there. 

Jennifer Silva is a sociologist at Indiana University and she researched the coal-producing region of Pennsylvania.

The bottom line is that the working-class families she’s interviewed didn’t hesitate to disclose specifics about their income, rent amount, or expenditures. 

“People would say, ‘I’m an open book,’ and they’d be straightforward, open, not ashamed.” 

They freely discussed “the challenges or even impossibilities of supporting a family on minimum-wage work” and almost acted a little proud of their resourcefulness, like “how they would make their budget stretch, such as buying ground meat in bulk and freezing portions to make it last.”

You know, from my personal vantage point, sometimes you will BE around people that you know make substantially less money than you, And you know what, you DO find yourself tilting the conversation so that person isn’t made uncomfortable.

What about when you go get your hair cut?

I mean, the 15-minute conversation that takes place between me & the person that cuts my hair … it’s like, if they ask me what I did this weekend - and I stayed in a resort and they already told me that they played basketball with their kids or something else - even though basketball with your kids might be a GREATER activity in a sense than staying at a resort … I don’t mention staying at a resort because it sounds hoity-toity … a little snobbish. Kinda unrelatable to them.

So then maybe I’ll tilt that chat to NBA Basketball or something.

Chat about something that’s not so socioeconomically stratified. You can always find that common ground somewhere. 

You know, another personal anecdote, in my life, I do a lot of these 5K running races & other events like that.

The race event makes my time publicly available. The local news outlets might even pick up those races times and publish them. 

Anyone can see it. Well, that is a measure of my fitness on that day.

There are clearly plenty of runners that rank both above me and below me.

So, that’s made public? But yet salaries are not? 

Somehow, American society does not equate physical fitness nearly to the degree that we evaluate and stratify how much money you make. I don’t know that it should be that way, but it is. I think that’s rather weird.

Revealing how much money you make, to many people,  “exposes how you’re valued by your employer and how your contribution is valued even more broadly, by the community.”

That makes an ounce of sense, sure, but why such a high value? I don’t get that part.

Few people would think “You are worthless because you haven't broken the 20-minute mark in a 5K yet.” 

But for some reason, WAAAY more people would equate you with having a lower worth if, say they learned that you only made $54,000. 

Now, Eli Cook - he’s a history professor at the University of (HIGH-fuh) Haifa and the author of a book on the topic, says that this money taboo has been going on for about 150 years in America.


In the late 1800s and early 1900s, he says that many Americans internalized the lessons of mainstream neoclassical economics, which suggested, through [the economist] John Bates Clark’s theory of marginal productivity, that everyone earns what they in fact produced.” 


So … that’s one opinion on about HOW LONG this has been taking place.


Really, what a lot of this comes down to is that the everyday conversations that you have with others are filled with questions about what people buy, what they do for a living, or how long they’ve been investing in real estate, and where they went to school. 

And once you know all of those things about someone else, the salary or net worth or cash flow are less important … because all of this is CONTEXT that you have about others - and these are all really proxies for class position anyway.


When we can stop equating net worth with self-worth, money has a chance of no longer being a taboo topic … and that really is, the big takeaway.


I trust that you’ve been enjoying MILESTONE Episode 300 of Get Rich Education.


As always, to get the Show Notes, you can go to GetRichEducation.com/300 - since that’s the episode number. 


In fact, this week, you’ll find the entire transcript to the episode if you would like to read along … or you tell someone else about the show and tell them about the option to read as they listen.


Above all, I have got to thank you for listening. I hear from so many people that tell me when they discover this show, they want to go back & listen to all 300 episodes …


… usually because I hear one of two things. They say it makes actionable real estate investing more CLEAR than anywhere else … or that it's changed their investor MINDSET more than anything else. 


Remember, if you’re interested, hang around until the very end of the show today to hear the entire uncut theme music … as a little Episode 300 bonus. 


More importantly, if you’re one of those people that STILL has not bought your first property. 


You can’t TIME the market, and you can’t make any money from the property that you don’t own. 


As long as you’ve been educating yourself for a while, then, if you think that inexperience is the only thing holding you back, well, then the only way to GET that needed experience and learning is to act.


Some people wait for ALL blue sky and everything to be perfect before they begin. Well … that really never happens.


You’ll either change what you’re doing … or you’ll keep what you’ve got.


Teach a man to fish … or give a man a fish?


Well, here, we do both. At Get Rich Education, we TEACH you how to fish. 


GREturnkey.com is our sister website where we GIVE you a fish too - with top national turnkey providers.


Get your mortgage pre-approval and download a provider report. We give you all 8 main steps at the top of the page there.


View available properties, make an offer, please get a third-party property inspection, then comes the appraisal, then sign a Property Management Agreement …


… have your property closing, and finally, own the property and enjoy the collected RENT that your PM auto-deposits into your bank account. Get started at GREturnkey.com


I’m your host, Keith Weinhold and I’ll be back next week and every week to help you build your wealth. Don’t Quit Your Daydream!

The Remote Real Estate Investor
The Remote Real Estate Investor
Halloween Special: Real Estate Horror Stories w/Chad Carson, Gary Beasley, Michael Zuber, Jim Barker & Tom Schneider
This week, we bring you something different with a collection scary real estate stories from some friends of the show. Join Chad Carson, Gary Beasley, Jim Barker, Tom Schneider & Michael Zuber for some creepy stories for the Halloween season. --- Transcript Emil: Hey everyone. Welcome back to The Remote real estate investor podcast. On today's episode, we have something really special for you guys. In the theme of Halloween, we wanted to go out and collect a bunch of horror stories very, very spooky real estate investing stories. And so we asked a couple friends of the podcast to share some stories they've had along the way. Some of them funny, some of them a little scary, some of them real spooky. So we have a total of five people speaking given their stories today, and that includes author and coach, Chad Carson, Roofstock CEO, Gary Beasley, Jim Barker, who is the VP of construction at Roofstock, our very own Tom Schneider, you guys know from this show, and author and good friend of the show, Michael Zuber. So without further ado, let's hop into their stories. Emil: So first up, we have author Chad Carson. So let's hear from Chad. Chad Carson: It was actually an investor friend who tried to get me to take over his property and manage it for him. And we went and looked at it. It's like, Yeah, I got this tenant who's not really paying that well. And that's okay. Yeah, we'll see how that goes. And it was a big is a brick house with a huge basement. And I said, Well, I'm gonna have to go visit the house. I'm not gonna take it over before looking at it. And so we walked to the house, we were walked inside, and we could just tell the tenant was really not at ease. Like he was just kind of nervous about something and kind of watching us too closely. And I noticed he got really uneasy when I started going towards the door to the basement. And I said, Oh, okay, I guess I better go the basement, open the top of the door, the basement. And all I heard was thousands sounded like of wheels going squeak, squeak, squeak, squeak, squeak, squeak, squeak, like lots and lots of little wheels and little sound like little feet, you know, little rodent feet running on these wheels. And so I kind of went to flick on the light and I looked at the bottom of the stairs, and there's like two red eyes, kind of looking up at me in the dark, and I flipped the lights on. And there are, there's there's one whole room in this basement with just tons of tons of rat cages or mice cages too. But that was only one part of this basement operation this guy had going on, there was all the reptiles and the other part of the basement that were the they're eating all of the rodents that he was raising, so he had big huge snakes. He had turtles and these big bats. He had I don't think I saw any alligators, but it's turtles and iguanas. And so it's like an exotic pet operation going on this guy's basement. This is one particular horror story. I was glad it wasn't my property and I told the guy as we walked out I said I'm not managing this property until you get rid of this tenant. The final part of the story I'll try to make fast is that he did get the tenant notice the tenant had to leave it was like 60-90 days later when he finally got it out and we went back to the house with the same friend and we're like we walk in the front door the same front door it looks it looks empty oh okay and not so bad and we're walking down the hallway the same hallway that had the basement door and all of a sudden this massive like big you know kind of dark brown mouse rat thing like comes charging down the hallway right so we both for the living room and take off is this mouse like was not scared of us at all like runs around the corner right when that happened I was right before he said Ah not so bad. There's this looks not so bad is this mouse comes charging down and after the mouse comes charging down we're getting ready to leave because I'm like let's just get out of this place. And I look over at my friend he's got this big huge roach crawling out of his shirt that must have dropped down from the ceiling somewhere. So long story short you know that if you get a bad tenant and that's the moral of this story was he didn't screen his tenet he didn't inspect it he didn't pay attention to what's going on and things can get out of control if you're not paying attention so that's that's the lesson there. Michael: Holy Smokes. I thought you're gonna say yeah, you decided to take it over and have him cut you in on the business and get 10% commission for all the animals and sales. Chad Carson: Oh man. I didn't touch that property I was I helped them advise them I you know from a distance so I didn't get any more roaches or or my shoes. Emil: Right Next up, we have Gary Beasley so roofstock co as many of you know, he has a really spooky story to share with you guys. So let's hear from Gary. Gary Beasley: When I was in the hotel business, this would have been back around 1997. I was in the midst of acquiring a very old hotel in Claremont Berkeley hills called the Claremont Resort and Spa. So this is right on the border of Berkeley in Oakland. It sits on top of the Hayward Fault. The really creepy thing we found out right before closing The general manager of the hotel came over the grab behind the diligence room took me in his office and said, Gary, I got to share something with you. Like, okay, what is this is the building have termites or something, he says, he hands me this file doesn't say anything. I opened it up. And it's a thick file full of handwritten notes. These were from guests, and from people who worked at hotel, and was all very, very similar. And it all happened on the fourth floor of the Claremont hotel. So the guy's name was Henry Feldman, I could remember it like it was yesterday. And he looked at me and he really wanted to watch my reaction as I opened through and started reading some of these notes. But there were dozens and dozens of accounts of people seeing a woman in a long white flowing dress, and either hearing or seeing one or two small children. And sometimes they would look out their window and see them in the Rose Garden. And like her tending to the roses, and sometimes she'd be kind of floating the hallways and like Oh, come on is this I'm looking around for a camera. He's like, no, read more there. This is no joke. And a lot of these are pretty recent. And then a number of things would happen in the rooms. One, sometimes the lights would go on and off unexplainably. tv would go on in the middle of the night, really blaring loud. Water would be on in the bathroom when they clearly had not been in the bathroom. drawers won't open in the dressers. And then one that was pretty freaky was a lot of people complained that they tried is when they tried to exit their hotel room, the door handle was hot, it was really hot, and it wouldn't, then they couldn't turn it. And so like this is really odd. And also, the other thing that was very common was people being awakened by someone thumping on their chest when they're sleeping, like bam. And no one's in the room. It's like what is going on. And in fact, I heard this from when I was getting my haircut one day there. But the guy who used to cut my hair was telling the story that it just happened at someone who's the hotel, this was a few years ago, and she like, moved to a different floor or whatever. So I'm trying to say I asked him what's the commonality of all this stuff? Because you know, I have no idea. But none of these people know anything about any of the other stories. Oh, there's one more and then I'll tell you the kind of the genesis of it. And what puts the theory. There's an NBA team that used to stay there when the warriors have people in the LA Times will stay there. There was an A famous NBA player. I think you can even find this online somewhere, who was there and he was complaining about the noise in th…
29 min
Millionaire Mindcast
Millionaire Mindcast
Matt Aitchison
How to Win Life with the Defense and Offense Strategy | Dean Graziosi
(REPLAY FROM EP463) In this episode of the Millionaire Mindcast, we have a stellar guest, Dean Graziosi who shares insights about the right mindset and habits you must have during this quarantine, how to meet new opportunities, how to get ahead from everyone at the end, and how to win life! Dean Graziosi is an entrepreneur, a leader, lifelong learner, knowledge broker, investor, real estate expert, multiple NY Times best-selling author, and world-renowned success coach. He created a breakthrough course, held extremely high impact masterminds, worked with Tony Robbins, wrote best-selling books such as Millionnaire Success Habits, and Motor Million$, and hosted a top-rated podcast called The Dean Graziosi Show. He used to travel to speak to hundreds of thousands of people and make an impact worldwide by sharing strategies and knowledge to people in order to build a happy, fulfilled, rich, and successful life. He has shared his message through The Wall Street Journal, Forbes, TIME, USA Today, The New York Times, CNBC, ABC, CNN, Fox Business, Today, Oprah, The View, Yahoo, and Business Insider. Dean has been an entrepreneur for 30 years, he has been to multiple down markets, and this uncertainty is not new to him. The only thing he is certain is this is not the end of the world. We’ve been to wars, past pandemics, and other challenges and we’ve survived. The key is just setting the right mindset during this quarantine. Ask yourself, who do you want to be at the end of this? Are you just going to hide in fear or are you going to find ways to get ahead from others? If you choose the latter, think about strategies to level up your life. Start on simple things that need your focus, and work on things you don’t have time before. Don’t focus on regret, on what you’ve lost, and on things, you don’t have but find ways to invest & grow, work on the relationships, start your business, and save money. Moreover, according to Dean, this is the time where you can thrive by planting seeds so you can harvest down the road. How you spend this time is how you are planting seeds by being energized, and innovative. Look at this time as a gift to evolve and improve yourself. This is the time we need more energy. Go with self-education or get a coach, practice more, & practice when no one is looking. This is not the time to wait for someone else to fix it. This is a time to step up, to be a leader, and to show people that you can thrive. Develop success habits and rituals. Turn on your defense and offense buttons, and be grateful whatever you have right now. Also, remember to level up your virtual connection in this social-distancing time. Some Questions I Ask: * How are you supporting the people that are really struggling & scared with the circumstances we find ourselves right now? (00:59) * What are some of the greatest habits in the book that if you were to pick one or two right now that applied now more than ever, which ones did you highlight? (05:39) * What are some of the rituals and habits that help you stay more in hands with your awareness that people might not be working into their routine right now? (10:41) * What are you sharpening right now and putting work ethic in on right now that’s not maybe as natural or easy or habitual for Dean? (16:59) * What is your overall sentiment or message to those people to learn the new pieces, tools, resources, and strategies to actually succeed and adapt in this new world that we find ourselves being pushed into? (24:53) * What is Mastermind? (29:58) * Where do you see trends and opportunities in times like now, what are you paying attention to? (34:11) * What do you say to that person who feels being an impostor and has self-doubts to share things right now? (36:14) * What is your overall outlook on the economy as a whole, and on real estate in this next cycle and how are you positioning yourself to continue building wealth? (40:12) * I’m curious about your thoughts in regards to Recession or Depression? (42:16) * If you will leave something of positivity to kind of spotlight a silver lining in all of these, what would you leave them today? (45:04) In This Episode, You Will Learn: * How to step up during this crisis (06:33) * Why you should be aware of your Internal Dialog (08:02) * Why you need to play defense and offense to win in life (11:01) * How to build certainty in these uncertain times (21:46) * Starting Over versus Transitioning (25:38) * Which is more valuable resources or resourcefulness (28:11) * Analogy about life experiences to do amazing things (37:23) Quotes: * “How you spend this time is how you are planting seeds.” * “The most innovation in the world comes out when your backs are against the wall.” * “A leader could be a leader of your family setting example for your kids, for your wife.” * “People focus on what they lost or what they don’t have can never go to another level.” * “I believed I was born a pessimist who’s fought my whole life to be an optimist.” * “Success is often so simple, we overcomplicate it.” * “It’s the little things that add up to the big things.” * “Work ethic is a recession-proof.” * “You win games when no one is watching.” * “No one is going to learn on the back of uncertainty.” * “People need certainty in uncertain times.” * “If you’re not climbing you’re sliding, not growing you’re dying.” Resources Mentioned: The Power of Now book by Eckhart Tolle The Untethered Soul book by Michael A. Singer Connect with Dean Graziosi on: Website Mastermind.com Instagram LinkedIn The Dean Graziosi Show Millionnaire Success Habits book by Dean Graziosi Motor Million$ book by Dean Graziosi Knowledge Broker Blueprint
48 min
The Tom Ferry Podcast Experience
The Tom Ferry Podcast Experience
Tom Ferry
EP. 93 How To Become a Great CEO and Grow a Real Estate Company with Mary Lee Blaylock
Being a great leader requires many skills and components to succeed with your team and business. In today’s episode of the Tom Ferry Podcast Experience, I had the opportunity to talk with Mary Lee Blaylock, President and CEO of Berkshire Hathaway HomeServices California Properties. As one of the most respected and knowledgeable leaders in the real estate industry, Mary Lee shared a vast insight into successfully starting, growing and taking your real estate business. Mary has an extensive and amazing real estate career, from being Vice President of Edina Realty Inc. to Vice President of HomeServices of America to her current role in Berkshire Hathaway HomeServices. She opened up about her first year of real estate and the hurdles she had to overcome to grow her real estate career and being a young woman and leading a team of older real estate professionals. In this illuminating conversation, Mary Lee provided her valuable insight on working smart, how to become a great leader, and preparing your team to be ready to pivot for any upcoming changes that the market can present. As a powerful leader, she also shared how she manages to focus her time as a wife, mother, and CEO. We also covered the importance of learning the inside out of the company you are growing, refining the skill to say no, and developing your career in your company. If you’ve been thinking of taking the next step in your career or opening your own business, then this episode is for you! As always I took a bunch of notes and I know you will too, so share with me what golden nuggets you’re taking from Mary Lee to take your leadership skills to the next level.
1 hr 2 min
Master Passive Income Real Estate Investing in Rental Property
Master Passive Income Real Estate Investing in Rental Property
Dustin Heiner
Become a Millionaire Starting With $0 Investing In Real Estate
These are the exact steps I took to become a millionaire by the time I was 34 years old. It took hard work and determination and if you apply yourself to these steps, you can become a millionaire too. Get the Free Real Estate Investing Course: https://www.masterpassiveincome.com/freecoursep Join the Real Estate Wealth Builders Investor Membership https://www.masterpassiveincome.com/buildersp // WHAT TO WATCH NEXT How to Become Successfully Unemployed: https://youtu.be/wx5Ke9KVs58 Get Money For Investing in Real Estate: https://youtu.be/u4IY5UMDkrI How to Start Investing In Real Estate: https://youtu.be/fJVOeSgXZRQ How to Analyze a Real Estate Investing Deal in 5 Seconds: https://youtu.be/SqA1HcAW4EI How to Set Up Your LLC for Your Business: https://youtu.be/B9RzLkAZI9s How to Use Owner Financing to Make Loads of Money: https://youtu.be/qAOpCOWvj6Q //BEST REAL ESTATE INVESTING RESOURCE LINKS Free Property Find Deals On Properties: https://masterpassiveincome.com/propertysearch Get Business Funding https://masterpassiveincome.com/fundandgrow Great High Interest Savings Account: https://masterpassiveincome.com/cit Accurate Rental Rates: https://masterpassiveincome.com/rentometer Self Directed IRA for Real Estate Investing: https://masterpassiveincome.com/rocketdollar Learn more about Dustin and find resources to build an automatic real estate investing business: https://masterpassiveincome.com Join our free private Facebook group! https://masterpassiveincome.com/group #realestateinvesting NOTE: This description may contains affiliate links to products we enjoy using ourselves. Should you choose to use these links, this channel may earn affiliate commissions at no additional cost to you. We appreciate your support!
19 min
Real Estate Investing for Cash Flow with Kevin Bupp
Real Estate Investing for Cash Flow with Kevin Bupp
Kevin Bupp
#294: How to Leverage Commercial Real Estate Investments to Get You Out of Your Dreaded W2 Job – with Brian Hamrick
This week's episode of the Real Estate Investing for Cashflow Podcast features Brian Hamrick.& Brian Hamrick is the owner of Hamrick Investment Group, which controls over $32 Million in assets, including Multifamily and apartments, Self-Storage, Office, and performing and Non-Performing Notes. Brian currently asset manages 370 apartment units in Grand Rapids Michigan and successfully transitioned from his W-2 job to full-time real estate investing in 2014. In addition to his real estate endeavors, Brian also hosts a popular real estate investing podcast which can be found on iTunes and all other listening platforms. Quotes: “So, I had all this money that was sitting in a bank account and I realized; I don’t know what to do with this. I didn’t even know what a Mutual Fund was at the time and I was 30 years old. So, I just starting learning and investigating.” So, automating it really just made things so much easier, streamlined everything, and now we don’t need to have anyone on site except maybe a couple times a week to make sure it’s clean and sweep out empty units. Highlights: :40- Brian's background 9:28- Brian tells us what his favorite market is 15:27- Brian talks about if his new model is scalable and replicable 22:11- Brian gives his opinion on foreclosures and non-performing notes skyrocketing as a result of the pandemic 26:15- Brian tells us what asset classes he thinks will thrive in the pandemic 30:53- Brian tells us about a bad deal he had and how he got through it www.higinvestor.com Learn About Investment and Partnership Opportunities with Kevin and His Team
45 min
Be Wealthy & Smart
Be Wealthy & Smart
Linda P. Jones
The Coming Bull Market in Commodities in 2021
Learn why commodities are predicted to be a hot investment in 2021. One investment firm predicts commodities will rise 30% in 2021. Find out why and why I agree with them. The article is here. Are you investing well for financial freedom...or not? As we live our lives, we have seen enormous money be made in real estate, technology stocks, etc. and have seen wild swings in markets before. They can feel scary at the time, but in hindsight are often tremendous opportunities for future financial success. If you only knew where to invest for the long-term, what a difference it would make, because the difference between investing $100k and earning 2% or 10% on your money over 30 years, is the difference between it growing to $181,136 or $1,744,940, an increase of over $1.5 million dollars. Your compounding rate, and how well you invest, matters! INTERESTED IN THE BE WEALTHY & SMART VIP EXPERIENCE? -Asset allocation model with ticker symbols and % to invest -Monthly investing webinars with Linda -Private Facebook group with daily insights -Weekly stock market commentary email -Lifetime access -US and foreign investors, no minimum $ amount required For a limited time, enjoy a 50% savings. More information is here or have complimentary consultation with Linda to answer your questions click here: https://2909395.survey.fm/application-for-vip-experience PLEASE REVIEW THE SHOW ON ITUNES If you enjoyed this episode, please subscribe and leave a review. I love hearing from you! I so appreciate it! SUBSCRIBE TO BE WEALTHY & SMART Click Here to Subscribe Via iTunes Click Here to Subscribe Via Stitcher on an Android Device Click Here to Subscribe Via RSS Feed WEALTH HEIRESS TV Please subscribe to Wealth Heiress TV YouTube channel (it’s not just for women, it’s for men too!), here. PLEASE LEAVE A BOOK REVIEW Leave a book review on Amazon here. Get my book, “You’re Already a Wealth Heiress, Now Think and Act Like One: 6 Practical Steps to Make It a Reality Now!” Men love it too! After all, you are Wealth Heirs. :) Available for purchase on Amazon. International buyers (if you live outside of the US) get my book here. WANT MORE FROM LINDA? Check out her programs. Join her on Instagram. WEALTH LIBRARY OF PODCASTS Listen to the full wealth library of podcasts from the beginning. Use the search bar in the upper right corner of the page to search topics. TODAY'S SPONSOR I want to take a few seconds to tell you about how I “read” more books and stay ahead of the curve. It’s by not reading books, but instead listening to them – like you are right now! With Audible, there are over 150,000 titles to choose from for your iPhone, Android, Kindle or mp3 player and…your first audiobook is FREE! I suggest you get the audio book of Think and Grow Rich, or you can check out my website Resources page where I list all of my favorite financial books and you see exactly what books I have read and recommend you read. Then get started with Audible by visiting https://lindapjones.com/FreeBook and order your first audio book free! Get Think and Grow Rich or another book from my recommend list, and be sure to get started checking off the books you want to read with your free book from Audible! Be Wealthy & Smart,™ is a personal finance show with self-made millionaire Linda P. Jones, America’s Wealth Mentor.™ Learn simple steps that make a big difference to your financial freedom. (Some links are affiliate links. There is no additional cost to you.)
18 min
More episodes
Clear search
Close search
Google apps
Main menu