Get Rich Education is brought to by Nerata Real Estate, Mid-South Homebuyers, and Ridge Lending Group.

Welcome to Get Rich Education with Keith Weinhold, giving you information and ideas on the investment that has turned more ordinary people into millionaires and billionaires than

anything else, and can provide you with more wealth and happiness than you ever thought

possible. Now, here's your host, investor, entrepreneur, business owner, and educator, Keith

Weinhold.

Hey, welcome to Get Rich Education, episode 154. I'm your host, Keith Weinhold, and I am in San Jose

Costa Rica today. We're talking with a nationally renowned mortgage loan officer here on how

you can get the best income property loan for yourself.

I am sure that you've already heard of her.

I'm pretty excited that she is going to tell us about specialty loan products beyond your first-hand income property loans.

After you've already got your first 10, Fannie Freddie loans, maxed out.

What do you do next?

I think you're going to be more excited about your

options than ever. But first, let's increase your cash on cash return right now. When you write

an offer on an income property, try to get the seller to participate in some of your

buyer's side closing costs for you. Now, the most that you can get is 2% of the purchase

price as that seller concession toward your closing costs. This might be how something like

that works. Okay, on a property with an asking price of $100,000, you might say, hey,

Mrs. or Mr. Seller, I'll give you your 100K, and I'd like for you to

pay 2K toward my closing costs, because that's a maximum that you're allowed to get. And if they say,

yes, that's great. But if the seller says no, because that way they would only get 98K, then what you

can do instead, if they say no to that offer, is to offer them more than the

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