581: I Really Mean It
Description
Keith tells how much he paid for his first property and how he traded up for more and larger properties.
He highlights the benefits of owning real estate, noting that 63% of the median American's net worth is in home equity and retirement accounts, while the top 1% has 45% in private business and real estate.
He also shares his personal journey and emphasizes using other people's money to grow assets.
Discover why outdated rent control policies harm housing supply and affordability.
Learn innovative ways to turn your property's unused spaces into effortless cash flow with today's best peer-to-peer platforms.
Sign up at GREletter.com to grow your means, and join a thriving community passionate about breaking free from financial limits!
Resources:
These platforms let property owners creatively monetize underutilized spaces.
Neighbor.com – Rent out your garage, basement, driveway, or unused space.
Swimply.com – Rent out your swimming pool by the hour.
StoreAtMyHouse.com – Rent out your attic, closet, or other home storage spaces.
SniffSpot.com – Rent out your backyard as a private dog park.
PureStorage.co – Rent out extra storage space such as garages or sheds.
PeerSpace.com – Rent out your space (home, backyard, loft, warehouse, etc.) for events, meetings, or photoshoots.
Episode Page:
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RidgeLendingGroup.com or call 855-74-RIDGE
or e-mail: info@RidgeLendingGroup.com
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Complete episode transcript:
Keith Weinhold 0:01
Welcome to GRE. I'm your host. Keith Weinhold, talking about how I personally built and grew wealth myself with real numbers and real properties, what a rent freeze actually means to you, and how you could be losing income by not creatively generating more rent from properties that you already own. I'll talk about exactly how today on Get Rich Education.
Speaker 1 0:27
Since 2014 the powerful get rich education podcast has created more passive income for people than nearly any other show in the world. This show teaches you how to earn strong returns from passive real estate investing in the best markets without losing your time being a flipper or landlord. Show Host Keith Weinhold writes for both Forbes and Rich Dad advisors and delivers a new show every week since 2014 there's been millions of listener downloads of 188 world nations. He has a list show guests include top selling personal finance author Robert Kiyosaki. Get rich education can be heard on every podcast platform, plus it has its own dedicated Apple and Android listener phone apps build wealth on the go with the get rich education podcast. Sign up now for the get rich education podcast, or visit get rich education.com
Corey Coates 1:12
You're listening to the show that has created more financial freedom than nearly any show in the world. This is get rich education.
Keith Weinhold 1:29
Welcome to GRE from Stonehenge, England to Stone Mountain, Georgia and across 188 nations worldwide. I'm Keith Weinhold, and you're listening to get rich education. I visited Stonehenge and made, by the way, today I'm back for another incomprehensibly slack jawed performance here, still a shaved mammal too. Status hasn't changed. And remain profligate and unrepentant about the whole thing. You probably know it by now that if you're listening here and you want to learn and do things the same way that everyone else does things, then you are squarely in the wrong place. I really mean it more on that later. But you know, Wall Street doesn't scorn real estate because it's risky. They dislike it because it doesn't scale the way that they need it to private real estate can get messy, operational, illiquid. Every real estate deal is different. Every market has its own physics. You can't package it into a fund with a push button deploy strategy. And that's precisely the point. The modern financial system rewards frictionless products that trade constantly and generate fees instead building real, durable wealth has never been frictionless. Here's what the wealth distribution actually shows for the median American. 63% of net worth is in home equity and retirement accounts. For the top 10% that tier, 25% is in real estate and private business ownership. But for the top 1% that highest tier, 45% combined is in private business equity and real estate. So as you approach the top 1% it's more skewed toward owning a business and directly owning real estate. Wall Street, they only offer derivative exposure to real estate through mega funds and REITs. But exposure isn't ownership. Your best risk adjusted returns live in the deals that are too small and too messy for institutions to touch, and that's where your yield lives. The control, the opportunity, the world's enduring fortunes weren't built just by buying exposure. They were built by owning things, land companies, assets that require some sweat to get them going. The next decade favors owners over allocators, the stuff that pays you perpetual dividends. So the irony is that the very things Wall Street avoids the messy hands on part of real estate. Oh, well, that's what makes it such a powerful wealth builder. And see, even, as we somewhat found out last week when we talked about AI property management here on the show, you can't fully automate relationships or construction or management, but that friction is exactly where the margin lives. What makes real estate frustrating for institutions is exactly what makes it valuable for operators and long term owners like you and I. It's the nuance, the inefficiency and the need to actually. Know something about a market, rather than just model it. Wealth tha
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