17: Knowledge Is Not Power. This Is. f/ BiggerPockets Real Estate Podcast
Get Rich Education
Keith Weinhold
4.3 • 602 Ratings
🗓️ 6 February 2015
⏱️ 29 minutes
🧾️ Download transcript
Summary
#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 differently.
25:30 This two minutes of content has inspired others to buy their first income real estate.
Resources mentioned:
www.Reefogc.com
www.RichDadAdvisors.com
www.BrianTracy.com
REIA meetings
www.NeighborWorks.org
Transcript
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| 0:00.0 | Get Rich Education is brought to you by Refoil and Gas Companies, Partners in American Energy Production for World Consumption. |
| 0:12.0 | Welcome to Get Rich Education with Keith Winehole, giving you information and ideas on the investment that |
| 0:22.9 | has turned more ordinary people into millionaires and billionaires than anything else, |
| 0:29.1 | and can provide you with more wealth and happiness than you ever thought possible. |
| 0:33.8 | Now here's your host, investor, entrepreneur, business owner, and educator, Keith Weinhold. |
| 0:45.1 | Welcome to Get Rich Education Show 17. I'm Keith Weinhold. Thanks for being here. I want to talk to you today about the importance of taking action. Not just any action, but the right action. |
| 0:57.2 | Educated and informed action. They say knowledge is power, a quote attributed to Francis Bacon, but that's since been |
| 1:05.6 | improved upon. Oftentimes it's knowledge plus action equals power. |
| 1:11.5 | Well, that's definitely true in investing. |
| 1:13.9 | Your mind is your greatest asset. |
| 1:16.7 | Go ahead and consider this. |
| 1:18.6 | You own your mind free and clear. |
| 1:21.4 | There is no debt obligation on your mind. |
| 1:24.3 | There's no mortgage against your greatest asset. You own your mind free and clear. Your genus and |
| 1:33.4 | species is homo sapiens. That means wise man. You are the only creation that has the ability to |
| 1:41.4 | think, reason, create, and then choose your own destiny. |
| 1:45.8 | The fact that you possess intelligence and a free will makes you unique in the animal kingdom. |
| 1:52.3 | You have the ability to be fruitful and multiply. |
| 1:56.5 | That's abundant. |
| 1:57.8 | I mean, do you know how fortunate you are? |
| 2:03.7 | Everything that you need is already there for cultivating an abundance mentality. You already had the infrastructure right there |
| 2:09.9 | inside your head to develop an abundance mentality and have more in life. You need to master a new way to think before you can master a new way to be. |
... |
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