The Difference Between Rich and Wealthy (and Which is Better) | PREI 047

Passive Real Estate Investing

Real Estate Investing with Marco Santarelli, Investor and Entrepreneur.

Education, Business, Investing, Entrepreneurship, How To, Business:investing

4.6 • 968 Ratings

🗓️ 10 June 2016

⏱️ 16 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Many people think that being rich and being wealthy are the same thing. They’re related but not the same. You see, the rich have lots of money but the wealthy don’t worry about money. What’s the difference? Join me as we take a look and compare the two. And if you missed last week’s episode, be sure to listen to Financing for Foreigners and the Self-Employed. Enjoy the show! – – – – – – – – – – – – – – Download your FREE copy of: The Ultimate Guide to Passive Real Estate Investing. Get your FREE coffee mug by leaving us a Rating and Review on iTunes. Here’s how. See our available Turnkey Cash-Flow Rental Properties. Please give us a RATING & REVIEW (Thank you!) SUBSCRIBE on iTunes | Stitcher | Podcast Feed Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Welcome to passive real estate investing, the show where busy people like you
0:05.0	learn how to build substantial passive income while creating wealth for the long term.
0:09.5	And now here's your host, Marco Santorelli.
0:13.0	Welcome to passive real estate investing.
0:15.1	I'm your host Marco Santorelli.
0:17.5	And I was just checking my podcast stats this morning,
0:20.4	and I was surprised to see that we are now being heard in 132 countries around the world.
0:26.0	Now there are 196 countries in the world today.
0:30.0	Taiwan is not actually considered an official country by many including the United States
0:34.4	and that would bring the count down to 195 countries but even so that's 67% or
0:41.0	two-thirds of all the countries in the world. Wow, so thank you for being a loyal
0:46.8	listener and a subscriber to the show. A couple of quick things, the demand for our
0:51.8	$6,000 out-of-pocket deals in Memphis
0:54.8	has been extremely high and that is actually a good problem so I've actually been
1:00.8	working this week to get funding increased and systems in place to increase
1:06.4	the turnover and the production of these low-down deals in Memphis.
1:11.5	Now keep in mind that these are great three bedroom homes. These are
1:15.6	excellent little cash flow properties with tenants in place professional
1:19.8	management. We just have it structured in a way where there's about 25% equity and that equity is used as your down payment.
1:28.0	So if you want more information on that, give our office a a call speak to one of our
1:33.2	investment counselors again the total out of pocket is usually around $6,000 sometimes
1:38.9	$6,500 but it's in that ballpark and the good news for foreign investors, foreign nationals
	...

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