36: Big Problems and Opportunities Found at Keith’s 8-plex
Get Rich Education
Keith Weinhold
4.3 • 602 Ratings
🗓️ 19 June 2015
⏱️ 40 minutes
🧾️ Download transcript
Summary
#36: Keith’s 8-plex has had its share of problems and opportunities since he bought it two years ago. See how he views a property with an “investor’s eyes.” Learn to avoid problems.
Listen to this week’s show and learn:
01:27 A blogger calls Keith the “anti-Dave Ramsey.”
04:44 The only “problem” with having millions of dollars in debt? It's wanting more.
06:48 Problems and operations at Keith’s 8-plex building.
13:20 The trade-offs of owning a large lot along with an apartment building.
17:38 Adding income to your property by leasing space to a cell phone tower provider.
20:57 Big problems with the building’s water well.
31:44 A major maintenance item needed repair. Not all building repairs provide the same returns.
34:45 The 8-plex’s appreciation over two years is a 43% gain on the down payment, amplified with leverage.
Resources mentioned:
www.InternationalCoffeeFarms.com (ICFC)
One qualifies for the ICFC $1,000 discount per coffee parcel by e-mailing [email protected] & submitting paperwork to ICFC by July 31, 2015. An additional 30 days is allowed to fund.
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Transcript
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| 0:00.0 | Get Rich Education is brought to you by International Coffee Farms. Own your very own parcel of a Panama Coffee Farm today. |
| 0:13.0 | Welcome to Get Rich Education with Keith Winehole, 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. |
| 0:31.3 | Now, here's your host, investor, entrepreneur, business owner and and educator, Keith Weinhold. |
| 0:42.6 | You're listening to Get Rich Education, Episode 36. I'm your host, Keith Weinhold. |
| 0:48.3 | All I'm doing here on this show is saying the things that you've already been thinking, but didn't know how to say. And in fact, |
| 0:56.7 | you haven't been thinking about them for a while. I've got you thinking about them again because |
| 1:01.1 | you really hadn't been thinking these same aspirational thoughts that you had since you were younger. |
| 1:07.5 | You know, I've had a pretty interesting investing week, and I've got a lot playing for you today. |
| 1:14.0 | A blogger has called me the anti-Dave Ramsey, and then I've got some operations and problems to tell you about at an 8-Plex apartment building that I own, |
| 1:23.0 | which I know you'll get some real estate investing takeaways from. |
| 1:26.9 | Yeah, there's a blogger out there referring to me as the anti-Dave Ramsey. |
| 1:32.0 | And, you know, I kind of love it. |
| 1:36.0 | Yeah. |
| 1:36.6 | From an investment standpoint, it's absolutely true. |
| 1:40.6 | You know, from that perspective, you could call me the anti-Dave Ramsey. But, you know, really one |
| 1:47.8 | word I think of that comes to mind pretty quickly when I think about Dave Ramsey. You know, it is |
| 1:53.9 | admiration. You know, I do have to say, he's principled. He's a righteous dude. You know, few things matter more than character. |
| 2:04.0 | He's smart too. He thinks on his feet pretty fast. All right, Dave, being the well-known, |
| 2:09.3 | longtime syndicated talk show host that he is, he is a real estate investor, and he's known |
| 2:14.4 | for having the unusual, well, unusual to me, position of having his properties |
| 2:21.4 | paid off with no mortgage on them. I mean, to me, that's equity exposed to the market, |
| 2:29.1 | no leverage return, not exploiting the arbitrage, the delta between the cap rate and the mortgage interest |
... |
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