260: The Debt Decamillionaire
Get Rich Education
Keith Weinhold
4.3 • 602 Ratings
🗓️ 30 September 2019
⏱️ 43 minutes
🧾️ Download transcript
Summary
$10 million in debt could BENEFIT you. I describe how.
There are more “free-and-clear” homes today than in 2006. I tell you why.
A major platform published that 30-year mortgages are better than 15-year. It appears terribly oversimplified.
Home equity always has zero ROI.
The debt decamillionaire can have a $300K annual tailwind from inflation-profiting alone.
How to get informed, not affirmed.
Then, Daren Blomquist joins us to discuss U.S. housing trends.
The homeownership rate has declined, especially among those under age 35.
The rental vacancy rate has plummeted to 6.8%.
Market appreciation is cooling in a sustainable way, returning to long-term norms.
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Resources mentioned:
30-Year vs. 15-Year Mortgages:
My Forbes article:
Why Home Equity Has Zero Return
GRE’s Tampa Field Trip:
Mortgage Loans:
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Transcript
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| 0:00.0 | Welcome to Get Rich Education. I'm your host Keith Weinhold coming to you from the Pro Football Hall of Fame in Canton, Ohio. |
| 0:07.0 | Inflation debases the weight of your debt. Consider, too, that it debases the value of your equity at the same rate, an approach to having $10 million in debt. |
| 0:18.1 | Then a great guest joins us to discuss the latest U.S. housing trends today on Get Rich Education. |
| 0:28.9 | The company that's provided our listeners with more loans than anyone is Ridge Lending Group and MLS 42056. |
| 0:36.9 | You can finance more than 10 single families up to fourplexes, serving most U.S. states, |
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| 0:49.8 | Pre-qualify and then chat with President Chaley Ridge personally. |
| 0:53.5 | Start on your next investment property |
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| 1:04.9 | control of your 401k and IRA money to invest in real estate. It's time to get your retirement money into your own checking account, |
| 1:13.2 | but you've got to avoid the little-known tax that you'll pay with any self-directed IRA. Instead, |
| 1:18.8 | it's time for the QRP. Learn more and get your free copy of the QRP book by text messaging QRP in all capital letters to 72,000. |
| 1:33.9 | You're listening to the show that has created more financial freedom than nearly any show in the world. |
| 1:41.5 | This is Get rich education. |
| 1:57.0 | Here it is. Hey, welcome to GRE, episode 260, from Bethlehem Palestine to Bethlehem, Pennsylvania, |
| 2:03.8 | and across 188 nations worldwide. I'm Keith Weinhold. This is Getvers Education coming to you from the |
| 2:09.9 | Pro Football Hall of Fame in Canton, Ohio on this fine autumn day. The percentage of homes |
| 2:16.2 | owned free and clear in the U.S., yes, those that are not |
| 2:20.3 | financed by a mortgage, is increasing. That's according to recent data from Zillow, which revealed |
| 2:26.8 | that 37% of homes in 2017 were owned free and clear. Yes, there's been a gradual rise of mortgage-free homes since 2006 |
| 2:38.6 | when the percentage of these homes was just 31.5%. Now it's up to 37%. Well, I can tell you that a lot of |
| 2:47.4 | these people aren't listening to Get Rich Education because for most people, |
... |
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