44: How A Four-Plex Building Can Be Your Massive Wealth Generator (1 of 2)

Get Rich Education

Keith Weinhold

Realestateinvesting, Income, Passiveincome, Money, Business, Wealth, Investing, Careers, Realestate, Kiyosaki, Real, Rich, Creatingwealth

4.3 • 602 Ratings

🗓️ 14 August 2015

⏱️ 34 minutes

🔗️ Recording | iTunes | RSS

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Summary

#44: A four-plex apartment building can be your major wealth catalyst with an FHA loan and your small 3.5% down payment.

Live in one of the four units and rent out the other three. It’s exactly how Keith began investing in real estate.

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Listen to this week's show and learn:

03:05 Why a four-plex rather than another property type?

04:35 How to put as little as a 3.5% down payment on a four-plex apartment building with an FHA loan.

06:19 Common objections to owning a four-plex this way.

09:28 Different four-plex layouts - townhouse style vs. apartment style.

12:32 Do you live in a geographic market favorable to “owner-occupying” a four-plex? Here are some indicators.

14:30 Running the numbers.

16:09 Leverage creates wealth for you in an appreciating environment. But if the market loses value, leverage can become difficult for you.

20:48 Preparation: how to position your affairs to buy a four-plex.

23:35 Property selection considerations.

26:46 How to structure your purchase offer with the seller to your advantage.

30:25 By buying a four-plex, you’re starting off bigger than most well-known real estate investors have. Most people simply don’t consider buying four-plexes with FHA loans.

Resources mentioned:

MyFico.com

TheLandGeek.com/GRE and MidSouthHomeBuyers.com

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Transcript

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0:00.0	Get Rich Education is brought to you by Mid-South Homebuyers and the landgeek.com.
0:11.0	Welcome to Get Rich Education with Keith Weinhold, giving you information and ideas on the investment that has turned more ordinary people into
0:21.3	millionaires and billionaires than anything else and can provide you with more
0:26.5	wealth and happiness than you ever thought possible now here's your host
0:31.7	investor entrepreneur business owner and educator Keith Weinhold.
0:38.3	Welcome to Get Rich Education. I'm your host Keith Weinhold. This is the
0:46.3	fourplex show on episode 44. Yes, GRE strikes back for another wealth-building week,
0:53.3	and I'm a whole lot friendlier than any of those scoundrels from the empire.
0:58.6	I'm glad you're here, and I'm here because I want to make you more successful than me faster than me.
1:05.8	Well, what is a fourplex building, and how could owning a fourplex yourself be your wealth building breakthrough
1:13.1	or even be one of the worst decisions of your life, okay? You know, at times I need to speak
1:20.8	in generalities today. Sometimes there are rare exceptions to rules and if I have to mention
1:26.3	every last caveat before we move on, we won't get
1:29.6	anywhere. Look, this is not an episode about passive real estate investing. Okay, I want to make
1:37.3	that clear. This approach takes some work, but it can be a relatively small amount of work
1:43.5	for a massive financial benefit.
1:46.3	Okay?
1:47.1	Now, I think you know by now that I started in real estate investing by buying a
1:51.3	fourplex building.
1:52.2	That was back in 2002.
1:54.0	I lived in one unit, rented out the other three.
1:56.9	Now, that's the first quote, unquotequote home I ever owned, all right?
	...

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