123: Mistakes To Avoid In Real Estate Investing
Get Rich Education
Keith Weinhold
4.3 • 602 Ratings
🗓️ 17 February 2017
⏱️ 42 minutes
🧾️ Download transcript
Summary
#123: What if the value of your income properties falls 40% vs. the value of stock falls 40%?
We explore the strategic, emotional and practical side of this.
Learn how you stop losing money by paying the opportunity cost of not being invested strategically. How to use desktop methods to research the right properties and markets.
Keith is invested in a real estate market where there’s a recession. Here’s how he deals with it.
Keith brings you today’s show from San Juan, Puerto Rico.
Want more wealth? Visit GetRichEducation.com and 1) Subscribe to our free newsletter, and 2) Receive turnkey real estate investing opportunities.
Listen to this week’s show and learn:
02:50 Most real estate investors buy property for convenience, not strategy.
05:34 Reading about 3-D printing before investing in Memphis real estate (really?).
07:17 Use these desktop methods to research property.
09:12 When your stocks fall 40%, a story of what happens tactically and emotionally.
17:20 There have been 25 stock bear markets since 1929.
18:27 Corporate Direct for asset protection.
21:58 The mortgage meltdown of 2009.
23:31 What happens if you income property portfolio fell in value by 40%?
26:56 In a stock meltdown, companies disappear. In a real estate meltdown, you still own land, brick, concrete, wood, copper wire, and glass.
28:23 Warren Buffett’s Rule No. 1: “Don’t lose money.”
29:07 Keith owns income property in Anchorage, Alaska, and there’s a recession there.
31:34 Submarkets and business sectors.
34:58 Invest in 3-5 different metros.
37:11 Home inspections.
Resources Mentioned:
Transcript
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| 0:00.0 | Get Rich Education is brought to you by Norata Real Estate, the Real Asset Investor, and Highlands residential mortgage. |
| 0:08.5 | Are you on track to achieve your financial goals? Income producing real estate is the most historically |
| 0:13.3 | proven way to accumulate wealth and has created more financial freedom than any other means. |
| 0:18.7 | Norata real estate provides everything you need to invest in the best turnkey cash flow rental properties. Our simple proven system will help you create real wealth and passive monthly income. Get your free strategy session with our knowledgeable investment counselors at Noradarrealestate.com. That's N-O-R-A-R-A-R-A-R-A-R-E-A-R-E-A-R-E-A-R-E-E-A-R-E-E-A-R-E-E-A-R-E-E-A-R-E-E-R-E-E-E-R-E-E-E-N-E-E-N-B-E-E-E-E-N-B-E-E-E-E-E-R ordinary people into millionaires and billionaires than anything else and can provide you |
| 0:56.0 | with more wealth and happiness than you ever thought possible. Now, here's your host, investor, |
| 1:02.7 | entrepreneur, business owner and educator Keith Weinhold. |
| 1:10.8 | Welcome to Get Rich Education episode 123. I'm Keith Weinhold. |
| 1:14.0 | Welcome to Get Rich Education, episode 123. |
| 1:16.9 | I'm Keith Weinhold, back to help you build your wealth. |
| 1:20.6 | Or today, it's really more about how you can avoid losing your wealth. |
| 1:25.5 | Now heard in 179 nations worldwide, thanks for being here. |
| 1:31.2 | If you're using the Gas Buddy app to find the lowest car gasoline prices, then this is not the show for you. |
| 1:32.9 | You're losing your time and you're exerting your metal bandwidth and energies on the |
| 1:37.2 | things that are never going to make an impact in your life. |
| 1:40.4 | Dude, that is not moving the meter. |
| 1:42.8 | Is that really how you're choosing to live? What if the value of your |
| 1:46.3 | income property portfolio fell 40%? How would that make you feel? We're going to talk about how to |
| 1:51.8 | avoid that. And if it did happen, what you would do. Also, I'm invested in one real estate market |
| 1:58.1 | where there is a recession. Yes, I own income property in a market where |
| 2:03.1 | there's a recession myself. How could that happen to me? Aren't I the one that's always talking |
| 2:07.0 | about the importance of the real estate market over the property? I'm going to tell you how I deal |
| 2:11.9 | with being invested in a real estate market where there's a recession. So we're talking about |
... |
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