390: Inflation, Florida Short-Term and Long-Term Income Property
Get Rich Education
Keith Weinhold
4.3 • 602 Ratings
🗓️ 28 March 2022
⏱️ 44 minutes
🧾️ Download transcript
Summary
“Inflation is legalized counterfeiting. Counterfeiting is criminalized inflation.” -Robert Breedlove
When wages don’t keep pace with inflation, I explain why it destroys families.
We compare short-term (STR) and long-term rental (LTR) property in southwest Florida. Get started with buying properties yourself at: https://gremarketplace.com/SouthwestFlorida
Of course, Florida is an in-migration hotbed. Home price appreciation and rents are both 10%-20%+ year-over-year.
Today’s LTR tenants seek: infill lots, more square footage, an extra bedroom / den, and grocery store proximity.
STR tenants want a pool. You really make your money November through April.
LTRs have more recession resistance than STRs. LTRs have more predictable, year-round income.
STRs often have $4,000-$5,000 a week of rent income. They have a 20% management fee. You can charge the tenants a cleaning fee. You owe utility costs and ~$100 monthly yard maintenance.
Single-family rental properties are 1,500-1,900 sf on a ¼ acre lot, LVP flooring, granite countertops, stainless steel appliances, 9’4” ceilings, and concrete block exterior walls.
Pricing is in the low $300Ks to low $400Ks. Long-term rents are $2,000-$2,400 / month.
To get started with buying single-family homes and duplexes (long-term and short-term rentals) in southwest Florida, start at: https://GREmarketplace.com/SouthwestFlorida
Resources mentioned:
Get started with SW Florida long-term and short-term rentals:
https://GREmarketplace.com/SouthwestFlorida
Show Notes:
Get mortgage loans for investment property:
RidgeLendingGroup.com or call 877-74-RIDGE
JWB’s available Florida income property:
To learn more about eQRPs: text “RICH” to 307-213-3475 or:
By texting “RICH” to 307-213-3475 and opting in, you will receive periodic marketing messages from eQRP Co. Message & data rates may apply. Reply “STOP” to cancel.
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Transcript
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| 0:00.0 | Welcome to GRE. I'm your host, Keith Weinhold, talking about some of the differences between short-term and long-term rental property, especially in Florida. |
| 0:09.0 | But first, how does today's 8% CPI inflation affect you as an investor and a step-by-step explainer on exactly why raising interest rates cools off inflation today on Get Rich Education. |
| 0:26.3 | Hey, my friend Damien Lupo, informed me that checkbook IRAs have been made illegal by the U.S. |
| 0:31.7 | Tax Court. If you have a checkbook IRA, your holdings are now disqualified with taxes and penalties |
| 0:37.2 | up to 50%. But don't panic, |
| 0:39.8 | Damien and the EQRP company can fix this. Those IRAs can be converted into EQRPs, retroactive |
| 0:46.6 | to last year getting those tax deductions and reducing your taxable income. This way you can |
| 0:52.0 | invest your 401k or IRA in real estate, |
| 0:55.0 | Bitcoin, gold, and even your own business, whether you're a full-time investor, retired, |
| 0:59.9 | or a dentist with dozens of employees. If you're listening, you qualify. The EQRP works. |
| 1:06.2 | It's the solution and it helps you control your money, kill youbit, and help you pay way less taxes. |
| 1:12.3 | To learn more about this strategy and free up your retirement money, get the 2022 EQRP special |
| 1:18.1 | report. Send a text to 307-213-3475 with the word rich. Text 307-213-3475 with the word rich. |
| 1:31.3 | The people that our listeners can't stop talking about are Ridge Lending Group and MLS 42056. |
| 1:37.3 | They've provided GRE listeners with more loans than anyone, and it's where I got my last few loans. |
| 1:42.8 | They financed single-family income property up to four plexes. |
| 1:46.2 | They're the number one lender for beginners and veterans. |
| 1:49.2 | Start your pre-qualification, chat with President Shaley Ridge personally, |
| 1:53.0 | and get your custom plan for expanding your cash flowing portfolio. |
| 1:57.4 | Start at ridglinggroup.com. |
| 2:03.3 | You're listening to the show that has created more financial freedom than nearly any show in the world. |
| 2:10.6 | This is Get Rich Education. |
... |
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