Get Rich Education
Get Rich Education
Aug 31, 2020
308: Stocks Set To Fall By 80%, Home Prices Surge Above $300K - with Harry Dent
Play episode · 47 min

Where are the big investment risks today? Economic forecaster Harry Dent tells us.

Despite pandemic-driven unemployment, tenants are largely paying the rent.

The price of an existing American home is now $304,100, surging 8.5%.

Lumber prices for a new home are up $16K since April. This increases the value of your property’s replacement cost.

The new 0.5% adverse market condition fee for refinances is annoying. Learn how to avoid it.

In the pandemic, real estate keeps shining.

Harry Dent is fired up. He joins me to tell us why he thinks most assets are in a bubble: economics and demographics. 

His latest book is “Zero Hour”.

Baby Boomers find renting to be more acceptable today.

Harry predicts when stocks will fall 80-85%, a crash occurs, and about the profligacy of the Fed printing trillions in the pandemic.

Resources mentioned:

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HSDent.com

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Apartment Building Investing with Michael Blank Podcast
Apartment Building Investing with Michael Blank Podcast
Michael Blank
MB 236: The Financial Freedom to Do What You Love – With Megan Lamke
Time is precious. Are you spending your days doing what you love with the people you love? What if multifamily real estate could help you do just that? What if you could achieve financial freedom fast—regardless of your current financial situation? Megan Lamke is Managing Partner at Megan Lamke Real Estate, a firm that helps driven women turn their grit into true financial growth. She built a network of real estate investors working for Wells Fargo Home Mortgage, and once she and her husband, Darik, had paid off their personal debt ($535K in under 5 years!), they started investing passively in multifamily syndications. Megan quit her corporate job to pursue active investing full-time in April of 2019, and today, the Lamkes have a portfolio of 1,491 units valued at $344M. On this episode of Apartment Building Investing, Megan joins me to explain why she took a W-2 job after college (despite wanting to become a real estate entrepreneur) and what she and Darik did to live below their means and pay off their debt so fast. She describes what she did to find a good operator as a passive investor and how she leveraged her sales and marketing background to transition to active investing. Listen in for Megan’s insight on how to raise capital at scale with a platform and learn how YOU can achieve financial freedom and spend time doing what you love! Key Takeaways When Megan started thinking about real estate * Parents struggled financially, read Rich Dad Poor Dad at age 10 * Entrepreneurship and business clubs in high school and college Why Megan took a W-2 job after college * Needed to pay off student loan debt before leave Rat Race * Learned sales skills, got to work with real estate investors What Megan and her husband did to live below their means * Sold luxury cars, bought cars for cash * House hacked 6BR (rented to rugby teammates) * Side hustle as sales and marketing consultant How Megan and her husband got on the same page financially * Financial literacy class as part of premarital counseling * Set goal to pay off debt, achieve financial freedom How Megan’s strategy shifted once she was out of debt * Sold 6BR house to invest passively in multifamily syndications * Goal to replace corporate salary as quickly as possible Megan’s advice on finding a good multifamily operator * Look at track record, online reviews, lawsuits and marketing efforts * Ask questions re: where properties located, how managed, etc. What Megan’s last day of work was like * Surreal (like leaving the Matrix) * Culmination of goal that started in fifth grade How Megan’s life is different now that she’s a full-time investor * Control own time (decide when to work) * Spend more time with daughter, volunteering What active investing looks like for Megan * Use SDA to underwrite 10 deals/day (300 in 2019) * Leverage background in sales and marketing to build out platform What Megan has done to scale her capital raise efforts * Done-for-you tech stack to automate lead gen, booking calls * 30 to 37 calls with prospective investors every week What Megan is doing to attract prospective investors to her platform * Create content (social media, videos, blog and weekly webinar) * Sponsor real estate events, promote lead magnet on podcasts How Megan describes her ideal investor * Successful career woman age 40-55, primary breadwinner * Gritty and knows how to get stuff done How the automation works to turn interested prospects into investors * Receive automated email with free download * Follow up with drip marketing campaign to encourage call How much capital Megan has raised through her online platform * $18M raise to close on $49M apartment building * In process of closing on $18M 503(c) How raising capital looks different now that Megan has a platform * Don’t have to call each investor, track follow-up manually * One centralized management tool that automatically follows up Connect with Megan Lamke Megan Lamke Real Estate Megan’s No-Nonsense Women’s Guide to Investing Megan on Facebook Megan on Instagram Megan on LinkedIn Resources Register for Michael’s Platform Builder Incubator Join the Nighthawk Equity Investor Club Rich Dad Poor Dad by Robert T. Kiyosaki Business Professionals of America DECA Dave Ramsey Robert Kiyosaki Financial Freedom with Real Estate Investing: The Blueprint to Quitting Your Job with Real Estate—Even without Experience or Cash by Michael Blank The Miracle Morning: The Not-So-Obvious Secret Guaranteed to Transform Your Life (Before 8AM) by Hal Elrod Michael’s Syndicated Deal Analyzer Trello Investor Deal Room Podcast Show Notes Michael’s Website Michael on Facebook Michael on Instagram Michael on YouTube Apartment Investor Network Facebook Group
36 min
Sell or Die with Jeffrey Gitomer and Jennifer Gluckow
Sell or Die with Jeffrey Gitomer and Jennifer Gluckow
Sell or Die
Lets Talk Payroll Systems with Jonathan Gallagher
In episode 522 of the Sell or Die Podcast, we have special guest Jonathan Gallagher. Jonathon is co-founder of Coastal Payroll Services, a San Diego based payroll and HR service provider. In this episode, we are diving into the topic of payroll, because it’s something everyone uses. Jonathan shares his background and how he got involved with Coastal Payroll Services, as well as the opportunity he saw to set his company apart from others. Some key points we discuss include: * Jonathan discusses his background and how he went from an ADP employee to co-founder of Coastal Payroll Services. * Jonathan shares how sales opportunities opened up for him after getting involved with Coastal Payroll Services. * Jonathan teaches us how to utilize an economic downturn as a time to gain customer trust. * And finally, Jonathan explains how having an outstanding corporate culture leads to a remarkable business Jonathon has grown his team to over 13 people and they are currently seeing some remarkable results. The future looks very promising for both him and Coastal Payroll Services. There’s opportunity everywhere, you just have to be willing to be of true value and help like Jonathon. To hear more about payroll systems and Jonathon’s story, don’t forget to tune in to episode 522 of the Sell or Die Podcast. See you next week for another episode of Sell or Die! If you enjoyed this episode, take a screenshot of the episode to post in your stories and tag us, @jengitomer & @jeffreygitomer! And don’t forget to subscribe, rate, and review the podcast and share your key takeaways with us! Rise.com Free 30 Day Trial CONNECT WITH JEN & JEFFREY: Official Website Jeffrey’s Instagram Jennifer’s Instagram Sell or Die Hards Official Group
49 min
Be Wealthy & Smart
Be Wealthy & Smart
Linda P. Jones
To Pass Stimulus or Not to Pass Stimulus?
Learn why the stimulus is only part of the reason the stock market declined and what important events are happening this week that may impact it even more. 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.)
10 min
InvestED: The Rule #1 Investing Podcast
InvestED: The Rule #1 Investing Podcast
Phil Town & Danielle Town
287- Investing Q&A: Stock Splits and Company Valuations
A stock split is when a company decides to exchange more shares at a lower price for stockholders' existing shares. They happen from time to time, so it's important for us as investors to understand what that means. Stock splits make stocks more accessible to individual shareholders, make selling put options cheaper, and typically tends to increase share prices in the short run. So does a stock split impact your investment if you already own the stock? It shouldn’t, because your investment should be the value of the entire business no matter how many pieces it is split into.    There's another kind of stock split which is called a reverse stock split, where you end up with less shares than you previously started with. For instance, let's say you had 100 shares and they reverse split it 10 to 1, you suddenly have 10 shares. Does it increase the value or decrease the value? Not at all.    Rule #1 investors look at the company not per share. They look at it as a whole company the way an owner does. This is why the company evaluation process is a critical step in investing—if not the most important.    The company evaluation process includes confirming that the business has a margin of safety. Margin of Safety is the discount rate you can buy a wonderful business, which is generally 50% off the Sticker Price. Because the Margin of Safety is just 50% of the Sticker Price, it allows you the ability to purchase into the business with lower risk. Setting this limitation on the price of a business before you buy it helps protect you by providing an extra 50% cushion off the value of the company. Since you must do a lot of research before buying a business, it should always be something you’re confident in purchasing. However, anything can happen in the stock market, and it makes sense to allot yourself an extra measure of protection. Buying at 50% off does just that. Another way to evaluate a company is by evaluating the business’s moat. Moat is the durable competitive advantage that a company has that protects it from being attacked by competitors. Moat is what makes a company predictable and allows us to put a value on the business. Charlie Munger said that “Coca-Cola is the perfect business because it has this gigantic durable competitive advantage, or moat, which gives it predictable cash flow.” This allows us to figure out what the future cash flow will be and value the company today, so we know whether we can buy it on sale or not. Today, Phil answers fan questions regarding stock splits, company valuation, and explains why it’s important to do your research and due diligence before committing to any companies on your watchlist.  If you want to learn more about how to find excellent companies at attractive prices, download Phil’s Four Ms for Successful Investing Checklist: https://bit.ly/3jV5QAn Learn more about your ad choices. Visit megaphone.fm/adchoices
31 min
Sales Gravy: Jeb Blount
Sales Gravy: Jeb Blount
Jeb Blount
Blending Text Messaging Into Your Account Management Process
The Fine Art of Blending Text Messaging Into Your Account Management Process I love blending text messaging into my account management process. As a communication tool, it’s fast, efficient, less formal than email, and allows for arm’s-length, nonintrusive, synchronous communication that still feels personal.  There are two reasons why blending text messaging into your account management process works: It’s mobile. Text messaging is integrated into the mobile and wearable devices that are attached to us 24/7. These are the primary communications devices in our lives and businesses. Everyone has a mobile phone, and for Apple users, text is integrated across all devices and desktops.   It’s treated as a priority. One of the key reasons why text messages work so well is that most people feel compelled to read and/or respond to them immediately.   Text is a Versatile For Account Management Text messaging is extremely versatile virtual communication channel. You can attach videos, images, voice messages, and links to articles and resources. And, when the person you are texting is not available, texting shifts from synchronous to asynchronous communication.  For account management and communicating with customers text messaging is a tremendous tool. It helps you nurture and maintain relationships, keeps customers updated, and allows you to quickly respond to concerns from anywhere.  It's for these reasons that text messaging is the perfect virtual communication channel to blend into your account management system and process. Text messages are an easy way to:  Check the pulse of your accounts Show appreciation Send account updates and data. Send insight and educational resources. Keep key contacts apprised of shipments and order information. Be proactive with solving issues. Send offers and specials. The real key to blending text into your account management process is ensuring that your text messages are intentional, systematic, and part of an account management plan The Truth About Why You Really Lose Accounts A brutal truth is that most customers are lost because of neglect. Not prices, not products, not the economy, not aggressive competitors. Neglect! Neglect happens slowly. It creeps up on customer relationships.  Salespeople delude themselves into believing that if their customers are not complaining, they must be happy. So, they spend all of their time putting out fires and dealing with squeaky wheels, all the while ignoring accounts that that don’t raise their hand.  Wrapped up in this warm blanket of delusion, salespeople swing the door open and invite competitors in. Assume Every Account is At Risk Aggressive competitors don’t miss an opportunity to displace salespeople who neglect their customers. When you fail to proactively anchor your customer relationships, those competitors slip through and encourage buyers to consider other options.  This is exactly why you must never lose sight of the long-term consequences of neglecting accounts.  Relationships matter and must be protected against an onslaught of competitors. You must not take any relationship for granted. Assume that every customer and every relationship is at risk.  I’m not saying this is easy. One of the hardest things to do is keep your fingers on the pulse of your customer base.  Quarterly business reviews and other formal meeting are time consuming. You probably have a large account base and you can’t possibly meet with everyone. Every single day you are putting out fires and dealing with immediate customer service issues.  Pay Attention to Your Accounts The good news is the one secret to defending your accounts is completely in your control. Pay attention to them.   A simple, regular, inexpensive check-in by text message can make all the difference. It doesn’t need to be anything particularly special. You don’t need a reason to tell your customers that you appreciate them.
8 min
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