205: A Diamond In The Rust Belt
Get Rich Education
Keith Weinhold
4.3 • 602 Ratings
🗓️ 10 September 2018
⏱️ 38 minutes
🧾️ Download transcript
Summary
#205: A dollar is not money. Money serves three purposes. It is a:
#1: Medium Of Exchange
#2: Unit Of Account
#3: Store Of Value
There is an opportunity for you to invest in cash-flowing real estate in Cleveland (link).
After discussing the roles of money, currency, and real assets, we discuss the Cleveland, Ohio real estate investing market.
Generally, if a place is too desirable to live in, it is a bad place to invest in long-term rental real estate for cash flow. But it must be attractive enough to retain residents.
Cities must reinvent themselves when manufacturing wanes. Cleveland has doubled-down on medical technology and has become a world leader in health care.
Eight Fortune 500 companies are headquartered here. The Cleveland Clinic is a world health care leader.
Neighborhood selection, pockets for long-term appreciation and cash flow discussed.
Typical in Cleveland: 3 BR / 2 BA, $700 - $1,000 rent, $80,000 price, 2% property tax.
This provider: financing-friendly, in-house management, guarantees, annual inspection, give tours.
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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
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Listen to this week's show and learn:
02:06 Money and currency roles.
04:08 Real assets.
05:53 "Too desirable" to live in a place.
10:18 Medical and technology replaces manufacturing.
11:00 Why companies are spending more to renovate homes.
16:24 Cleveland culture.
19:12 Fortune 500 companies - eight headquartered in Cleveland.
21:49 Forbes named Cleveland the top cash-flowing rental market.
24:22 Why SFHs?
29:58 Typical: 3 BR / 2 BA, $700 - $1,000 rent, 2% property tax.
32:04 Provider, financing-friendly, in-house management, guarantee, annual inspection.
35:45 Interested? Get the investing report at www.GetRichEducation.com/Cleveland.
Resources Mentioned:
GetRichEducation.com/Cleveland
Mortgage Loans: RidgeLendingGroup.com
Cash Flow Banking: ProducersWealth.com
Turnkey RE: NoradaRealEstate.com
QRP: TotalControlFinancial.com
Transcript
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| 0:00.0 | Welcome to Get Rich Education. I'm your host Keith Weinhold. What does a city do to reinvent itself |
| 0:06.8 | decades after having a manufacturing economic base? They double down into health care, a fast-growing |
| 0:13.0 | sector that even robotics and artificial intelligence will struggle to replace and lifting real |
| 0:18.5 | estate along with it today on Get Rich Education. |
| 0:22.4 | Are you looking for a roadmap to financial freedom? |
| 0:25.7 | If so, we have a solution for you. |
| 0:28.5 | Nerata real estate is offering a limited number of free strategy sessions to help you get out of the rat race. |
| 0:35.0 | Learn how you can create wealth and build monthly passive income. To set up a time with one of our knowledgeable income property loan, go to Ridge Lending Group. |
| 0:58.4 | And over the years, you've heard owner Chaley Ridge generously give her time to you right here on the |
| 1:04.2 | show as a guest. Rids provides investment property loans in almost every U.S. state. |
| 1:10.4 | And you're going to find out how they've |
| 1:11.9 | helped more Americans realize their dreams of financial freedom through real estate than any other |
| 1:17.4 | mortgage lender in the entire nation when you get started at ridglinggroup.com. |
| 1:24.6 | Get rich education is brought to you by Ridge Lending Group Producers Wealth, |
| 1:28.2 | LaRata Real Estate, and Total Control Financial. |
| 1:32.5 | You're listening to the show that has created more passive income |
| 1:35.7 | for people than nearly any show in the world. |
| 1:39.8 | This is the powerful get rich education. |
| 1:56.7 | Welcome in. This is Get Rich Education. |
| 2:03.3 | I'm your host, Keith Weinhold. Before we discuss real estate and properties and markets today, first I want to talk to you about money and currency. |
| 2:09.9 | Money serves three purposes. First of all, it is a medium of exchange. Secondly, it is a unit of account. And thirdly, |
| 2:20.5 | it is a store of value. Let's break down these three. First, as a medium of exchange, that just |
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