Sign New Jersey Banking Residential Lease Agreement Myself

Industry sign banking new jersey residential lease agreement myself

welcome to get rich education i'm your host keith weinhold passive real estate investing with turnkey property sounds incredible and it can be highly profitable for you if you know which pitfalls to avoid but what are some of those downsides to turnkey real estate investing we're going to look at those places where you need to pay attention to avoid loss and frustration today on get rich education m.c lobster is the host of the cash flow ninja podcast and president of producers wealth he is on a mission to help you achieve financial independence and freedom as soon as possible he achieves this by integrating the infinite banking concept with real estate investments to increase your returns and recapture cash flow that you are not even aware of that you're losing mc shares the number one strategy of investors in his holistic wealth creation course at your own banking system.com finally total control financial gives you checkbook control of your 401k and ira money to invest in real estate it's time to get your retirement money into your own checking account but you've got to avoid the little-known tax that you'll pay with any self-directed ira instead it's time for the qrp learn more and get your free copy of the qrp book by text messaging qrp in all capital letters to 72 thousand get rich education is brought to you by ridge lending group producers wealth lorado real estate and total control financial you're listening to the show that has created more passive income for people than nearly any show in the world this is the powerful get rich education welcome to gre you are back in that abundant place where you realize that you have a choice between either living below your means or just using those same efforts to expand your means and you need a dose of abundance because the scarcity mentality is abundant and the abundance mentality is scarce hi i'm keith weinhold and i'm so grateful that you're listening to the 217th installment of get rich education four episodes ago we talked about how commercial real estate investing compares with residential last week we discussed active real estate investing with victor minaj in its pros and cons one big pro is how you can ethically pay yourself a healthy developer fee and the big drawback is that it takes a lot of your time and your coordination this week we're talking about passive real estate investing where you're largely inactive and you've outsourced the work and at the same time you've outsourced the sweat equity that goes along with it now when you buy passively with a turnkey property you think that's great this way the property is already extensively rehabbed tenanted and under management ideally by the time you close that's why it's called turnkey it's all done for you you know so much of your life experience is based on how it compares to the expectations that you have before that anticipated experience so much of your life is about expectations well sorry to burst your bubble but turnkey doesn't mean that you can be forever completely uninvolved now turnkey might be as close to hands off as you can get for you owning title to a residential property yourself that's its appeal turnkey often beats you managing a new construction project yourself like we discussed last week where you often have to wait 18 to 24 months or more to get your cash flow let's talk about some of the cons the drawbacks of turnkey real estate investing the fact that it is hands off and all done for you could actually be a downside to you based on how you're wired if you want to pick the paint color and the hardwood flooring type and the kitchen cabinet brand and model yourself well then turnkey probably isn't for you if your provider does all of their properties interior paint finishes in say an egg shell rather than a semi-gloss and you tell them that it's got to be semi-gloss and that lvp luxury vinyl flooring has to extend all the way into the bedrooms when the provider usually only takes it as far as the hallways well see now if you're constantly trying to nose into everything in micromanage operations like this then turnkey is not for you if you want that operational level of close control now of course you are ultimately the one in control of all of this you have the power to replace your property manager you have the control of when to buy and sell the property it's your property you have control of the biggest lever here now this might sound painfully obvious but don't invest money into a long-term buy and hold piece of real estate which turnkey is if you need your money back in a year and a half or two years because it's very unlikely that you're going to be profitable by paying transaction costs twice both going in and coming out all in less than two years part of the reason for this and it's yet another turnkey drawback is that you shouldn't expect to have any substantial equity on the day that you buy above and beyond the down payment that you've made so you might get your appraisal to come in just a touch higher than your contract purchase price but see you're not the one forcing the equity the provider is you are paying someone to do the work for you that can rub some people the wrong way that's one side of the coin understand that at the same time this scenario is an attraction to a lot of people me included i understand the value of having an instant rehab team in an out of state investor advantage market that is going to make my life easy now that's just what i happen to want that's the other side of the coin not everyone feels that way so we're talking about the pitfalls the drawbacks of passively investing in turnkey real estate and notice that many of these drawbacks apply to non-turnkey properties as well for example another pitfall to look out for is when a rehab isn't started or completed when expected or promised now just because a company says that they're a turnkey provider well that doesn't just instantly make them reputable ask for testimonials nothing is more real than talking to other investors that already buy from a company and receive rent checks on a regular basis in fact starting about two years ago we've had some get rich education listeners like you come onto the show and tell us about your experience in addition to that just like you i am an active buyer and investor myself i learned about a turnkey company in the past they didn't stay in business very long they just took a photo of a prettier property next to the one they wanted to sell you and represented it like that was the one the subject that you were buying google street view will not save you from an unethical operator attempting something underhanded like that because their google street footage is typically months or years old we go look dot com is a service where you can hire an independent freelancer from an area to go put their feet in the street and verify facts like this for you if you have some reason to be suspicious i have never had to do that i only deal with established operators but you know even with an established reputable operator of course it never means that your risk is zero just like any business anywhere a provider's business might grow faster than they can hire new personnel to keep up with it or there are just all kinds of reasons that the ball can get dropped sometimes of course one red flag in an operator is when they're breaking down the numbers on a property that's available to an investor like you and they'll use big estimates about the property's projected future appreciation in order to cover up negative cash flow well for a beginner i've told you about vim tum numerous times that's an acronym v-i-m-t-u-m after your mortgage expense that acronym accounts for your operating expenses it's vacancy insurance maintenance taxes utilities and management those expenses all need to be deducted from your rent and then that projected cash flow number had better be positive when you're under contract on a new purchase now it's time for you to schedule a property inspection which occurs before your appraisal be sure to get an independent third-party inspection it's cheap insurance i have seen providers try to tilt investors under contract away from getting an inspection saying things like well your closing will go faster if you skip the property inspection i'm telling you don't skip it and your inspector will always have some deficiency findings like always even in a new construction property and i asked the provider that most or all of the inspectors deficiency findings be addressed now when it comes to the ongoing long-term property management that your turnkey provider offers you know the real deal is that some companies only really offer property management so that they can make it a turnkey business model and what's at that company's core is instead really the skill set of identifying a distressed asset and then buying it themselves and then renovating it themselves it's not so much the management some companies like the ones i avoid don't really have the most communicative managers now you are an investor and you're not looking for a chummy relationship necessarily but management is i feel the toughest part probably of the entire world of real estate investing and if you've been around this game for as long as i have 16 plus years as a real estate investor just having your manager meet the adequate level is often sufficient sometimes adequate will do you're not looking for a friend you need a property manager that will initiate a prompt eviction if it ever came to that consistently deposit your funds when they should and send you a timely property management statement some of the other pitfalls to avoid and things to ask your prospective turnkey provider about is do they do markups what i mean is that say your manager has to call a plumber out to your property for a toilet issue okay that stuff just happens well would you pay the plumber 300 that's how it should work or would you pay an extra fee of say 10 to your property manager to call the plumber out then the manager charges you 330 dollars keeps 30 as their markup and still pays the plumber their 300 do you pay an extra fee to your property manager for things like regular ongoing inspections annually or semi-annually i don't expect to pay for that service i expect that to be part of the regular management fee you know i've even seen benefits to the manager doing a walk through just one week after the tenant occupies the property well what could possibly go wrong one week after initial occupation i've seen a tenant plug 12 electrical devices into one standard receptacle and they think that's alright so there are nip in the bud types of benefits to a post-move-in walk-through other downsides to buying turnkey are of course buying in the wrong market or investing with a turnkey provider that has a high vacancy rate and if you're investing in a thriving market then why does the provider in that market have a high vacancy rate they shouldn't another downside is that to be a successful turnkey real estate investor you can't think it's 100 passive and that you can just always and forever stay totally disengaged review your property management statement to see what's going on monthly management provides you with monthly statements and they're usually accurate with all your amount credits which is usually just the rent income and all your monthly debits your expenses your principal and interest and those aforementioned vim tom expenses when i see something off in a monthly property management statement a common one for me is when at tenant move out i've been charged with something that instead should have been deducted from the tenant security deposit look out for that one another pitfall to avoid with passive real estate investing is when repairs come up on the property well maybe they should have been covered under the year one scope of work warranty from back at rehab time and if they weren't well then maybe they're due to damage caused by the tenant and it should be the tenant's responsibility now let me give you an example of where in turnkey you need to stay mindful and conscientious if a big ticket maintenance item comes up we'll say that one slope half of your roof shingles were blown off in a windstorm well don't forget to consider contacting your insurance company if it's something that's not the responsibility of your tenant or your provider yes you wouldn't believe how often investors forget to contact their insurance company in this case but yet at the same time that investor makes sure that they keep paying their annual insurance premiums if your major maintenance expense is substantially higher than your deductible amount it might be worthwhile to file a claim if it's early on in your ownership though like the first year major maintenance items might be covered by your turnkey provider in that scope of work warranty so those are some other places to check before paying it out of pocket yourself now don't let any of these things dissuade you from passive real estate investing with turnkey property if it's something that you're considering because all these downsides they're really pretty manageable the bottom line though is that turnkeys are not too good to be true they are real and you can build substantial wealth with them it's just that they aren't always as completely hands off as some companies advertise some of these problems i'm talking about are not unique to passive real estate investing they're just general things that can go wrong in most any real estate investing on the positive side you're pretty likely to be working with experts in the market where you've bought so you are able to get a lot of built-in local expertise that comes right along with your property in most cases you will be paid five ways simultaneously this way as you build wealth in your sleep and you didn't have to deal with the complexities and uncertainties of managing rehab contractors yourself or doing the work yourself personally passive real estate investing caters better to my proclivities than active real estate investing you know building or fixing physical stuff is not my forte oh geez yesterday it took me 20 minutes to try to hang a christmas wreath on our front door 20 minutes to hang a wreath and note that i said try to hang a wreath because after 20 minutes of work i still fail to hang the wreath so much of this is about expectations whether it's a movie that you're about to go see or a blind date that you're about to go on it's about expectations and how your result compares with your own preconceived expectations and passive real estate investing isn't any different your expectations should be set at a realistic level and not a fantasy level now i go to real estate investor meetups and conferences pretty regularly in fact i'll be in san diego california next week for a real estate investor mastermind meeting and you know in these groups you hear little grumblings about providers that are not up to par and i endeavor to a great degree to only have the top echelon providers at our gre turnkey network well now that you know more about what to avoid what are some of the nuances of a successful turnkey real estate investing company successful in the light that they are providing well for their investors what's an example of someone that's doing it right and how do their efficiencies and best practices make an investor like you more profitable when we return i'm going to chat with two guests that are responsible for creating more passive income for you than anyone else in get rich education history that's in about 90 seconds i'm keith weinhold you're listening to get rich education would you like to know the easiest way to create wealth and passive income with real estate this is marco santorelli with norada real estate investments now you can access the best deals without the stress or hassle of having to find renovate or manage those properties we save you time by providing you with passive income investment properties in some of the best us markets learn more by downloading your free copy of the ultimate guide to passive real estate investing there's no obligation and nothing to buy simply visit passiverealestateguide.com and get your free copy today that's pa siverealestateguide.com for a real estate investor like you seeking an income property loan go to ridge lending group and mls over the years you've heard president chaley ridge generously devote her time to you here on the show as a guest ridge provides investment property loans in most u.s states and you're going to find out how they've helped more people realize their dreams of real estate financial freedom than any other mortgage lender in the entire nation when you get started at ridge lending group dot com this is our rich dad poor dad author robert kiyosaki listen to get rich education with keith weinhold don't quit your daydream terry kerr was born in 1970 in memphis tennessee with the exception of some nomadic travel for a couple years in his early 20s he has lived in memphis his entire life he is the founder and ceo of mid-south homebuyers in 2001 he fell in love with making ugly houses pretty and he set out to master the business of passing bargains on to bargain hunters and since then mid-south home buyers has purchased renovated and sold more than 1500 single-family houses in memphis to real estate investors across the u.s and the globe liz and alan brody is an avid real estate investor herself who spent the last 16 years of her professional life working in multiple markets as a property manager marketing director realtor writer and a public speaker and for the last eight years she's been working side by side with terry kerr building mid-south home buyers into one of the most successful turnkey providers in the united states welcome back to get rich education terry and liz thanks so much thanks keith great to be here hey it's so good to have you here first just why memphis and i know it's not why memphis just because you live there we've had major media such as forbes point out that memphis is the number one cap rate market why memphis heathrow it's not just because we live here i'm fortunate to be born and bred at memphian but it's really the price to rent ratio that attracts investors investors are looking for a lower purchase price in relation to a higher rent and we didn't create that in memphis but we're super fortunate to be able to provide the best price to rent ratios and consequently the highest cash flows for investors in the united states that's the main way the stars aligned here but the little details look really good too the common construction style of a brick one-story ranch 1100 to 1700 square feet that is the typical house here the aluminum windows hip roof this beautiful low maintenance construction more affordable property insurance than i've seen in any other market that i've looked for and stellar landlord tenant law just kind of the icing on the cake for this market some ask the question why are there such favorable ratios of rent income to purchase price there well to start memphis is in the 95th percentile among major cities from a rent to owner occupant ratio so in other words about 52 of the memphis market rents so we've got uh fortunately a larger pool of folks that rent versus own their homes and that's just kind of where it starts it's driven by our awesome sort of the market drivers for our economy here we have the second biggest cargo airport in the entire world uh second only to hong kong so more freight is coming through memphis than anywhere else in the world but hong kong we're the third largest confluence of rail in the u.s you've got barges going up and down the mississippi highway 40 running coast to coast our many investors never really come to town but but when folks do they'll comment to me that they've never crossed over so many railroad tracks while passing so many semi trucks while seeing so many fedex planes in the sky these are massive employers of labor jobs people at assembly lines and we have nike's largest north american distribution facility it's the size of 42 football fields it has 33 miles of conveyor belts in there we joke that you can see that joker from space they're huge huge employers and these for kind of blue-collar labor jobs folks that tend to rent great employment for folks that tend to rent and we get to provide them awesome housing close to their jobs it's great you know folks graduate from high school and they can step into a nice paying job with uh fedex or ups or nike or one of the many outfits that liz was talking about and for whatever reason there's just a renter culture here and it's just something that we're fortunate to have yes 52 renters in memphis which is just remarkable so many of them have jobs that are tied to things like transportation and distribution the fedex hub is there you do have the second busiest cargo airport in the world and the busiest cargo airport in the united states and those are jobs distribution and transportation that you just can't easily outsource or offshore somewhere else that infrastructure those highways those railroads that fedex hub that airport is already built there and it's not going to be moved a lot of people think about distribution and transportation when they think about memphis but st jude's children's hospital and research center is there that's the well-known hospital that's based in memphis ever since its founding in the 1960s so just talk to us a bit about the medical center there well the medical center is growing like crazy i mean uh saint jude's doing a 430 million dollar expansion right now and so it's bringing in a lot of high-income earners from all over the world to the city to work at st jude and of course everybody that's going to come to work you know they need a place to live they need someone to fix their car they need someone to wait tables there's all of this there's a lot of folks that rent from us that will end up serving a lot of the folks that are going to be working at st jude like you mentioned before the mississippi river is not going anywhere the rail's not going anywhere i-40 is not going anywhere so memphis is pretty darn stable from a standpoint of you can bet that fedex hasn't moved in saint jude's not moving everyone's going for it so we feel uh real good about memphis's continued bright future tell us about how that's translated into the ability for an investor to get a rent increase on a property there some investors overlook the meaning of a rent increase if you get just a 25 year-over-year rent increase well that might only be a two percent rent increase and that might not sound very thrilling until you realize that that property might be producing 200 cash flow for you well a 25 increase in your 200 cash flow that's a 12 and a half percent increase on the money that goes into your pocket every month so if you extrapolate that effect across your portfolio rent income growth can be really important tell us about that it's the funnest part of the game memphis is our good safe slow and steady wins the race kind of market our investors have been with us where we've been in business for 16 plus years so we've worked through every market cycle you can imagine been successful and our investors have been successful through every market cycle you can imagine which is a wonderful track record to have and of course as rents go up along the way it's the icing on the cake and we are big fans and promoters of our slightly under market rents no tenant has ever left us because they found a nicer place for less money it's the driver of our 99 occupancy rate our average three and a half year tenant stay we typically don't have to advertise a property for rent for more than two weeks before it gets filled and we're able to offer that lifetime vacancy warranty all because we have gotten setting these rents to such a precise dialed in exactly to where it should be in the market and uh yeah we we're hitting 100 occupancy rates or so around december of 17. uh running some wait lists for renters and we always want to be maybe 10 bucks uh below market and just be that really attractive deal but we also want to be no more than that and so we let the kind of local competition experience the pain and vacancy pushing open new market rents and then we like to come in behind when the market is used to it and so as our properties have been turning over they've been re-renting it's really been nice and the thing is is renters want value just like the just like us investors do and so it's our job to provide good value to renters and that's providing the nicest rehab that they can afford and it's also being there to answer the phone and not outsourcing our repair department or outsourcing our resident retention department it's just about being there and answering the phone and if someone's heat goes out you're out there the same day or worst case scenario next day to fix it and it all starts with the resident if the resident is happy then the investor is going to be happy and it's fun to get to focus on that eliminating vacancy and turnover which is the greatest nemesis for an investor has so much to do with profitability and part of that is the good service that you provide to both the investor and the tenant there and part of that is what i would call in my experience is that you're very well integrated there at mid-south home buyers where you have the offices just adjacent to that within the same building you also have stockpiled supplies and appliances so that you can do quick turnovers tell us more about that integration with management supply and your offices the funnest thing for me is getting to work on efficiencies and so like you mentioned we're buying our materials in bulk we don't have to look for repair people outside of the same folks that are doing our rehab so the same individual that installed a new hvac system and a new rehab is going to be the same individual that is there to service the property down the road and then there are other efficiencies that we work on in addition to that and we've got proprietary program systems that send auto emails when a deposit is taken or when somebody puts in a notice to vacate we have a system created to where our team doesn't have to wonder what they're supposed to do they all have their own pages and get auto emails that tell them what they need to do so they can use their brains and creativity to do their job instead of remembering to do their job and the longer we've been in business the better we've gotten at internal efficiencies and creating a better quality of life for our employees because a happy employee is going to be able to give better customer service to both the resident and our investor partners we have low turnover in our houses and we have incredibly low turnover in our staff it's a happy family and i think people can feel that vibe when they come visit which we certainly welcome investors to come do it will push their confidence through the roof when they see what's going on down here hey you not only have a high degree of integration there you have a pretty high degree of automation efficiency and i've seen that myself a lot of that translates into your properties when you're driving around memphis and we've had just the four of us drive around memphis one time the two of you my wife and i you can drive around and you can kind of as you go down the street identify which home amid south home buyers is because you do have consistency across your renovations well we're trying to provide pride of rentership so i know what you mean keith and you know you roll down the street and yes the houses have shutters and yes they have landscaping logs and they have bushes and they have nice mailboxes and everything is the way i would want to have my house if i were to live in the neighborhood and when you've got pride of rentership you've got folks that come over to visit the renters and then they want to live in a house that way it's just sort of an endless loop and the job again is to start with the resident provide that value and then make sure that everyone you touch along the way says hey i want to do that deal again a hundred percent of our properties without exception are going to have brand new components out of the box with manufacturers warranties brand new 30-year shingle roof put on by us not a overlay a full tear off in a better than one percent price to rent ratio it's a really fantastic combination i've scoured kind of coast to coast looking for similar things and you can find people to get close to our renovation or new construction and the closer you get to us the worst ratios get yet to find anyone doing all new components in a one percent you can certainly find folks with similar price current ratios as us all day long and 100 of the time you're accepting a significant amount more of age on those major components and so that's kind of a intersection that makes us pretty unique anything else you do differently than others in that investor advantage market of memphis from the management side so it's all about the management really so having a nice uh rehab with warranties on everything that's great but i was told when i first got into this business that a property management can manage a great deal right into the ground or can manage a marginal deal of success over time i know we kind of keep coming back to the same thing but it's really all about the value that we're providing to the residents and of course investor partners of ours want value in the form of good communication and good customer service and we give that but the day-to-day is with the residents so we do things like we don't charge application fees to our potential residents we eat that cost because we want to take a look at as many potential residents as we can to try to find the best resident for the property for our investor partners and it's important for any of your listeners out their kids regardless of the market that they're looking in is to make sure to check out the property management company just as hard if not harder than you're checking out the individual that you're selling the house to because if i'm buying a house from someone in florida i can get a home inspection that's going to tell me the story on the house it's not going to tell me the story on the property management um we've got a due diligence section of our website where you can your listeners can download questions to ask their turnkey sellers in any market so we enjoy educating our buyers who sometimes buy from other folks in different markets on how to shop and try to make sure that they're getting the best deal not only on the house but with property management because property management that's where rubber meets the road just like you're comparing one house to another the very next step is to compare one management agreement to the other because the same house will perform very very differently under different property management companies you can actually download our management agreement from the property management section of midsouth homebuyers.com and apples to apples is better for example we charge 10 of the monthly rent which is what everyone in memphis charges for property management but ours is only of the rent collected your property comes filled for free but after that our charge is only half of the first month's rent to find the tenant it's essentially universally 75 to a full month's rent all these little things that when you're looking at a 20-year hold really add up uh not us not marking up materials to investors is probably is unique nationwide to my knowledge at this time as for as far as passing on the paint and screws doorknob handles whatever used on your house through the years exactly at the property management company's cost yeah no application fees no markup on materials really gives you guys some advantages there and you have some special guarantees for investors tell us about those quickly we do so um when an investor buys a property from us we have a one-year labor material guarantee bumper-to-bumper on the house and this is not an insurance policy that we're buying from like say american home shield or or an outfit like that where there's going to be pushback recovered 100 percent we also have a lifetime rent guarantee to where if a property is vacant for more than 90 days we'll kick in and start paying all of the rent after 90 days we've never had to do that because we h ven't had a property sit vacant that long and that's remarkable is because we're leading with providing value to the resident and then we've also got a one-year refill guarantee again uh super rare that we'd ever have to use that but if the property were to happen to fall vacant within the first year of ownership then we refill the property for free when liz came on board she saw that we were doing all these things but we didn't put anything in writing and she's like why don't you tell people that i'm like i don't know we just do it because it's the right thing to do and she's like dude you gotta tell people that i think it's also with me speaking to investors so much i learned so much about investors experience with other turnkey providers and so for us not having vacancies that long it's just your normal way of life because of the you know as terry would say where the bodies are buried in this industry will be providers pushing up rents to above market value so that they can sell those properties for more in particular when a lot of real estate investors are from expensive coastal markets like california in new york they can't possibly know that 9.50 a month in rent is too much to ask for that property and the number of investors that i have talked to that have experienced hundred-plus day vacancies with other providers is pretty heartbreaking and that definitely gives them a ton of peace of mind that these properties are the rent price is set to rent the house not to sell the house we have favorable rent to price ratios there we're in a lot of markets you can't get one percent plus anymore you do have that astounding rental guarantee where again if you have a property that's vacant longer than 90 days you would begin paying rent to the investor but you've never had to make good on that because it's never happened so terry and liz where can someone learn more about mid-south home buyers contact contactless midsouthhomebuyers.com uh all emails links and phone calls lead to me and my team we love talking about real estate please feel free to reach out if you're not ready to invest yet or if this is something you want to do in 2020 we're happy to chat and um that we've developed the website to be a resource terry and i worked on it for really years it's an ongoing progress there's so many videos you know like i said management agreement all the houses up there all of our houses become almost interchangeable because we're so incredibly picky about neighborhood quality so incredibly picky about tenant quality and then every home is renovated to essentially the max level that you can folks can jump on that available property section and really look at houses that could be helpful to them and also depending upon you know some of your listeners may be wanting to buy in their own backyard and so our website it's even though we're in business to sell houses and we want to sell houses the website is 100 designed to just give information that will help folks buy in any market there is good information there like the questions to ask to vet any turnkey provider and that's of a real credit to anyone no matter where they buy well terry and liz you guys have helped more get rich education listeners than any other provider anywhere either get started with turnkey real estate investing or add some turnkeys to their portfolio thanks so much for coming back under the show thank you thank you keith it's a pleasure yeah well it's great to have terry and liz from memphis back on the show it might even be soothing for you to hear their voices at this point since there's a fair chance you currently own property with them i'd say typical rents for their properties are about seven hundred fifty dollars and purchase prices are about seventy thousand dollars those figures are probably pretty close to the median now if you're a new listener and you happen to live in a higher priced housing area like metro new york city northeastern new jersey coastal california or another higher priced housing market you have to get conditioned to the fact i went through this before the fact that you really can get a fully rehabbed home in a safe decent neighborhood where a manager will manage with a tenant that pays the rent yes you really can if you think that turnkey real estate investing could be for you they are a highly reputable provider you can learn more at midsouthhomebuyers.com i'm keith weinhold and i'm truly grateful that you choose to invest your time with me that's why i'll be back next week with a valuable show don't quit your daydream nothing on this show should be considered specific personal or professional advice please consult an appropriate tax legal real estate financial or business professional for individualized advice opinions of guests on their own information is not guaranteed all investment strategies have the potential for profit or loss the host is operating on behalf of get rich education llc exclusively as america's third largest city chicago illinois has big economies of scale for real estate investors but there are problems with investing in highly taxed fiscally strapped illinois you can beat it when you invest in chicago land staying on the indiana side of the state line your property tax on a median indiana home is less than half that of an illinois property forbes ranks indiana is one of the top ten states to do business with typical rents at twelve hundred fifty dollars and purchase prices at 125 k northwest indiana numbers work learn more and connect with the turnkey provider at getricheducation.com chicago that's getricheducation.com chicago 71 of americans aren't saving enough for retirement it's going to get worse as people live longer and you need to start thinking differently but you can't lose your time real estate is the investment vehicle that's made more ordinary people wealthy than anything else keith weinhold of get rich education is hosts of one of america's top investing shows disrupting wall street he's an international best-selling author a writer for rich dad advisors and has been an active income property investor since 2002 he has created thousands in passive monthly income for countless followers and now he has a free book the seven principles for creating wealth in your life get your copy now at book that's getricheducation.com rich education dot com forward slash book because invest in what produces income for you now and later sign up now at getricheducation.com forward slash book the preceding program was brought to you by your home for wealth building getricheducation.com you