“Dream big but start small.” Today, it doesn't take much to get started in real estate investing and in this episode you will find out just how little it takes to get into your first multi-family unit.
I invited Keith on the show to discuss how he got into multifamily investing by moving into his first home he ever bought: a 4-plex. Over the years, Keith has added to his portfolio and is now a full-time investor.
Keith is the Founder of Get Rich Education to teach others about the life-altering power of investing, especially through real estate. He hosts of one of America's top investing shows – Get Rich Education – with thousands of listeners in over 160 world nations. He's heard everywhere from iTunes to iHeartRadio, and regularly hosts Kiyosaki Rich Dad Advisors as guests.
Keith Weinhold – Key Takeaways
[3:19] You CAN move to a location that you dream of living in instead of moving wherever there's a job.
[9:00] Sometimes we need to “unlearn” before we can learn
[10:40] How Kieth Got started with an FHA loan (it's still available TODAY)
[16:55] Forget about compounding, the key is Leverage
[22:09] What to look for to make sure you “buy right”
[25:50] How to find the best listings
[29:16] What to look for in a property manager. What to look for in the “Interview process”.
[32:57] ROTI- “Return on Time Invested” is a metric you need to think about when it comes to self-managing your properties.
[35:32] If Keith could do it all over again, what would he do differently?
[38:57] How to think about debt: Outsourcing to tenants.
Mentioned in this interview:
Favorite books:
- Rich Dad Poor Dad: Rich Dad Poor Dad- by Robert Kiyosaki
- Loopholes of Real Estate- by Garrett Sutton
- Online resources: www.16personalities.com
Connect with Keith
- Website: ww.getricheducation.com
- Podcast: Get Rich Education:
https://itunes.apple.com/us/podcast/get-rich-education-keith-weinhold/id927263663?mt=2
