43 min listen
280: Your Questions: Housing Bubble, Inspections, Student Loans, Report Cards
280: Your Questions: Housing Bubble, Inspections, Student Loans, Report Cards
ratings:
Length:
47 minutes
Released:
Feb 17, 2020
Format:
Podcast episode
Description
Before you buy a property, I discuss something crucial that you’re probably missing. Five of your listener questions are answered. (The entire episode’s lyrics are in the Show Notes below!) 1 - How should I reward my child for their good school report card? 2 - How reliable is a real estate income stream? 3 - Are we in a housing bubble? 4 - Should you pay off $200K in student loans or invest? 5 - Should I get an inspection for a new construction property? “Packaged commodities investing” is a way to think of real estate. You have a buying opportunity for income property in Florida, Alabama, Indiana, Maryland, Tennessee, Arkansas and more all at www.GREturnkey.com. __________________ Resources mentioned: Inflation Lesson: Sears & Roebuck DIY Homes Mortgage Loans: RidgeLendingGroup.com QRPs: text “QRP” in ALL CAPS to 72000 or: TotalControlFinancial.com New Construction Turnkey Property: NewConstructionTurnkey.com Find Properties: GREturnkey.com Best Financial Education: GetRichEducation.com Follow us on Instagram: @getricheducation Welcome to Get Rich Education. I’m your host, Keith Weinhold - answering your listener questions today. How do you reward your child for a good school Report Card? What about the long-term DURABILITY of a real estate income stream? Are we in a Housing Bubble? What should I do - pay off student loan debt - or invest? Should I get a Home Inspection? And what’s the one thing you should do before you buy ANY property that you’re probably not doing? All today - and more … on Get Rich Education. ___________________________ Welcome to GRE. I’m your host, Keith Weinhold. From Colombo, Sri Lanka to Columbia, South Carolina to Columbus, Ohio and across 188 nations worldwide. This is Get Rich Education. We’re having my favorite guest on the show today. That guest is you! Because I’m here with your listener questions today! The first one concerns a kid’s school report card and then the rest are about real estate investing. Rebecca from Los Angeles, California asks, Keith: What reward should I give to my 11-year-old son, Mason, for having a good report card at school - all As and Bs? I love your show, keep up the great work. Well, thanks, Rebecca. I love this question. Even though we’re largely a real estate investing show, I think there can be so many lessons about life for your 11-year-old son, Mason here. The reward you can give them for their good report card is cash. Tell Mason that he’s getting $100 - or maybe it’s $40. But in any case, let’s just stick with the $100 example. Divide it in half. Tell him that he’s getting $50 in cash. And tell Mason that, as a bonus for later, another $50 is going to be invested for him. Over time, Mason will probably see that the invested $50 grew and the $50 that he spent on video games or whatever didn’t. But see, he still gets rewarded with “short-term” fun. That way, it’s not ALL delayed gratification. As you know, the abundance mentality isn’t about either / ors, it’s about “ands”. This way, he can have his cake and eat it too. What good is cake if you can’t eat it? Now, I didn’t say that he had to SPEND the $50 cash part of this. $50 gets invested - and you’ll have the fun of keeping Mason updated on his investment over time. He can do whatever he wants with the $50 cash part. And over time, if he sees the invested portion gained value, he might choose to actually invest some or all of the $50 cash reward too. But for now, let’s be realistic - he wants to spend his $50 cash on Minecraft or Fortnite or the latest release of Grand Theft Auto. A video game like that. That’s fine. You need to let him be rewarded now - because that might incentivize more near-term good school performance - which is what you value seeing in Mason. Thanks for the question, Rebecca. Now, before I move onto the next question. There’s … I think … a real extrapolation here for you, the adult listener, with the way I recommended that Mason’s report card could be rewarde
Released:
Feb 17, 2020
Format:
Podcast episode
Titles in the series (100)
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