199: GRE Skeptic-Turned-Listener Dustin Jones
Get Rich Education
Keith Weinhold
4.3 • 602 Ratings
🗓️ 30 July 2018
⏱️ 36 minutes
🧾️ Download transcript
Summary
#199: He thought this show was dumb, debt was bad.
He originally listened to laugh rather than for financial education.
In 2009, Get Rich Education (GRE) listener Dustin Jones suffered a personal bankruptcy as a result of high real estate commercial debt tied to properties with declining value.
His goal was to be debt-free by age 40.
In 2015, that all changed when he began listening to Get Rich Education.
He learned that financially-free beats debt-free.
Now Dustin embraces debt again by strategically turning equity into cash flow.
He has $781,000 in debt, and hopes to have $1.1M to $1.2M by year-end. Isn't that counterintuitive?
It's a fascinating story of tragedy, resilience, learning, strength, and self-belief with remarkable Michigan-based GRE listener Dustin Jones.
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Want more wealth?
1) Grab my free E-book and Newsletter at: GetRichEducation.com/Book
2) Actionable turnkey real estate investing opportunity: GREturnkey.com
3) Read my best-selling paperback: getbook.at/7moneymyths
Listen to this week's show and learn:
03:47 Building a real estate portfolio in Flint, MI.
05:48 Declining property values and rent incomes.
08:46 Bankruptcies.
09:36 Calling notes due generally doesn't happen on performing, residential loans.
12:52 Dustin thought debt was dumb.
13:56 Finding GRE in 2015 and laughing at how it first sounded like nonsense.
19:00 Applying abundant concepts.
21:33 Buying 5 properties in Houston, Memphis, and Montgomery. $1,250 cash flow.
25:46 Dustin's other investments.
27:47 Pitfalls with providers, inspections.
32:28 Meet Dustin and I in-person Sept. 6th to 9th! Learn more at: www.GetRichEducation.com/Belize.
Resources Mentioned:
Dustin's e-mail: delk25@gmail.com
Mortgage Loans: RidgeLendingGroup.com
Cash Flow Banking: ProducersWealth.com
Apartment Investor Mastery: BradSumrok.com
Turnkey RE: NoradaRealEstate.com
Find Properties: GREturnkey.com
Transcript
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| 0:00.0 | Get Rich Education is brought to by Ridge Lending Group, apartment investor mastery, |
| 0:05.3 | Norado real estate, and producers' wealth. |
| 0:09.1 | You're listening to the show that has created more passive income for people than nearly any show in the world. |
| 0:16.4 | This is the powerful get rich education. |
| 0:21.1 | Hey, welcome to GRI, from California's 405 freeway to I-95 in Newark, New Jersey, and across |
| 0:39.9 | 188 nations worldwide. |
| 0:42.3 | I'm Keith Weinhold, and this is get-rich education. |
| 0:46.4 | We're talking to a get-rich education listener like you today, and you're going to find |
| 0:50.1 | out that this guest has more strength and resilience than almost anybody after what he's gone |
| 0:57.1 | through. Now, when you think about it, failure is the most natural way of learning in the world. |
| 1:05.6 | But sometimes when you suffer an especially painful failure, and it was a totally optional activity in your life, |
| 1:13.9 | an unnecessary one, like perhaps your life-altering motorcycle wreck, or you nearly drowning in a |
| 1:21.6 | whitewater rafting accident, well, that can affect you like an indelible scar in your life for the rest of your life, and you |
| 1:30.3 | might never again try anything like riding a motorcycle or going rafting ever again. |
| 1:36.9 | Well, what if your real estate investments failed, and you had atypical loan types where the bank |
| 1:44.0 | was able to call all your loans to be paid in full |
| 1:47.4 | and you couldn't afford to pay them. |
| 1:49.8 | And then you got taken to the cleaners because you had to declare personal bankruptcy when you couldn't pay the bank. |
| 1:58.1 | Financial rock bottom. |
| 2:06.1 | Would you ever invest in real estate again after that? And if you did, would you ever use substantial debt for real estate again? Well, today's guest did have to |
| 2:12.6 | declare personal bankruptcy because of real estate debt that got out of control. And as a result, |
| 2:18.8 | he thought that real estate was dangerous and bad. And the real estate debt is especially bad. |
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