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MASSIVE Inflation is Coming… Why I’m Buying NOW

Ken McElroy:
Hey everybody. It’s Ken McElroy again, and you guys probably remember my friend Keith Weinhold. He’s the founder of getricheducation.com and he has a massive following. He invests all over the U S he lives in Alaska. He’s an avid avid health nut. I see him out on the top of mountains and riding bikes and doing all this crazy stuff, you know, uh, Keith welcome back.

Keith Weinhold:
Thanks so much. I thought I’d actually sit down in a seat with you rather than climbing a mountain or something for a little bit here.

Ken McElroy:
You’re probably going right after somewhere. I’m sure. Um, so listen, let’s jump right in. You know, I know, you know, we, we, we w you, last time we talked, we talked a lot about inflation. It’s been a while, so let’s jump right into that topic. I know, you know, I’ve kind of beat that up a little bit, but I would love to hear your perspective on, you know, rent, inflation, inflation, the money printing and all that kind of stuff, you know, and what you’re seeing, um, you know, uh, on the real estate investing that you’re doing and with some of the guests you’ve had.

Keith Weinhold:
Yeah. When it comes to the topic of inflation, I think to define it is it is the diminished purchasing power of the dollar. And it’s interesting to think about the fact that most consumers, most people see this as a bad thing. The cost of their Chipotle burrito goes from $7 a few years ago to $8 this year. And in general, inflation is a malady for consumers, especially if the wages don’t keep up proportionally to the higher price inflation, that one is feeling out in the market. And, you know, Ken, the last time you and I talked about inflation, it was a few months ago. Really people were being asked. The question in a speculative sense is higher inflation coming. Is it going to come? We kept hearing that it was going to come. The CPI was relatively tame for awhile 2%, 3%, but it has come.

Keith Weinhold:
We’ve now seen CPI inflation, consumer price inflation, the most broadly reported metric between five and 6% year over year for several consecutive months now. And really a harbinger of the CPI, the consumer price index is as you know, before consumers consume a product good or service producers first that need to produce that. So the PPI, which is also recorded by the government’s BLS, the same people that report the CPI, the PPI, the producer price index that has exceeded seven or 8% lately. So that’s why many things that in the next few months, consumer price inflation will be higher because it’s costing producers more to produce that. So once they get passed along in the value chain to the consumer, that there will be greater inflation, a greater diminished purchasing power of the dollar. And I talked about how this is typically a bad thing for everyday people in consumers, but for real estate investors, inflation is really good, just really, really good. In fact, I’ve coined a concept called the, the inflation triple crown because real estate investors that get a loan for a cash flowing property with long-term fixes for straight debt, actually benefit three different ways at the same time. And it’s a little sad for society to see higher inflation, but the investor part of me is like a cheerleader. I’m like, go, go, go for inflation, because it’s actually good with the way that I have structured things in the way that you probably have as well, Ken.

Ken McElroy:
Yeah. So you bring up a really good point. A lot of people don’t talk about the PPI and it is a leading indicator. And so, so think of this guys, you can go type in to the national home builders, the N a H b.org right now onto their main page. It’ll tell you that the cost to build a single-family home has I, last time I looked, it was in the mid thirties higher than it was so, so, so, you know, call it whatever, wherever w whatever the new home is, it doesn’t really matter. Like if it’s Nevada or Arizona or Oregon, it’s on the average 35 grand, let’s say more period. So that is a PPI. That is the additional cost that is actually makes its way to inflation because the builder is not going to absorb that the consumer is going to absorb that. And that is a form of inflation. So is– right, right, Keith?

Keith Weinhold:
Yeah, 100%. We’re seeing supply chain disruptions for everything from windows to cabinetry, to hinges, to well-publicized price increases in lumber and for a builder to be profitable. They absolutely must pass this along to that prospective home buyer. That’s inflationary.

Ken McElroy:
So, so think of this guys, it’s the same with your food at the supermarket? You know, I was in California. I actually drove this year from Idaho down to California and stopped in Washington and Oregon. And cause I just loved the whole Oregon coast. And, and um, you know, I was in Manhattan most of the summer, well, gas was $4 and 99 cents. I don’t think anybody wanted to like, you know, make it five. But, um, but the point is, you know, as I was driving down interstate five and along the coast, you know, gas was, you know, anywhere from, let’s say four and a quarter to, you know, high force. Folks, the truckers, the people that deliver your food, you know, anybody that delivers supplies, th the people that are bringing stuff to home Depot or Lowe’s all of those folks, that’s all part of the supply chain.

Ken McElroy:
And that’s just fuel fuel for the tankers fuel for the, you know, that’s just fuel and not, we haven’t gotten into labor costs. So all of that stuff makes its way to that apple sitting in a store. And it does, you know, because the people are working on margins and as their margins decrease based on whatever it is, whatever it takes to get that apple to the store, those things get built into the consumer because they’re not gonna take a loss by delivering that apple to the store. So that’s what you guys are seeing now. And so those little components or the PPI, they are indicators for the CPI. And, and so Keith brought up a really interesting, very, very good point that I haven’t spoken about in awhile. And that that PPI is something that you guys need to watch. Um, and, and, uh, Keith, anything more on that.

Keith Weinhold:
And I love driving the Oregon coast as well, a story and on down just beautiful, great scenery along the coast there. And for the listener to the viewer here, if you want to check on these metrics and they are government reported metrics. So you’ve often got a wonder how they report it and how much you can trust them, but it is somewhat of an indicator. You can always go to bls.gov/cpi to get that consumer price index that’s recorded monthly or BLS dove slash PPI to see the producer price index. Those are the resources there, but yeah, can I like how you bring up some practical examples about how consumers can see in an almost literal sense, this inflation now my favorite Mexican restaurant to go to it’s called Qdoba. It’s an awful lot, like a Chipotle restaurant. I’ve steadily seen price increases for their burrito, their favorite, uh, my favorite steak burrito that I get as far as I can tell the ingredients and the size of the same, but it is paying more for the same burrito and can another thing that a lot of people don’t think about.

Keith Weinhold:
And I don’t even know if these inflation indices report it is consider the fact that compared to 10 years ago, how much more often you, that consumer are asked to leave a tip. You’re asked to leave a tip on the counter. Now I’m not saying that service people don’t deserve their tip or anything like that. You know, especially people that have been working in the health crisis and all that, but even at my favorite Mexican restaurant Qdoba, which, you know, they don’t have wait service. It’s basically a takeout restaurant. They even began asking for tips. And, you know, I was telling my audience recently can just watch. I bet pretty soon I’ll go to subway and they’ll even ask for a tip at subway, ensure enough, just a few weeks after I said that, now they ask for a tip at subway. So my point is that the price has gone up. You’ll pay paying for both the good and really paying for a service, even for your subway sandwich. So inflation is really all over the place, but I would love to talk about Ken, about how a real estate investor actually turns this around and wins with inflation three ways at the same time with the inflation triple crown.

Ken McElroy:
Yeah. Let’s, let’s go into that. Cause I think it’s really important. The other thing I’d love to touch on is guys, you probably know that if you read anything on inflation, you’re going to see the word transitory. What that, what that means is that it’s temporary. So now, you know, if you’re a politician, of course, you’re going to say that you have to say that and guess what you might be right? Because if it’s in the future, it’s not a lie, but it is going to go a certain direction. So, so, you know, just, I think these little components as they work their way up, they are going to move into inflation. And there’s lots of reasons. And I’d love to, let’s take this all the way down to the granular level of this triple crown, because this is why I’m investing in real estate right now, because I see massive inflation coming. So Keith I’ll let you lead it off.

Keith Weinhold:
Yeah. It’s remarkable that inflation is good for real estate investors, real estate investors. When the inflation triple crown, when they buy a rental property with long-term things for straight fixed interest rate debt, the first way with price inflation, the second way with debt debasement and the third leg of the triple crown, that real estate investors win is through something called cashflow enhancement. So let’s just take an example of the first of the three asset price inflation. If you have a $1 million apartment building say we have 10% inflation over just a couple of years in your million dollar apartment building now has a price of $1.1 million. That’s how much it worth. It went up 10% in value. Then maybe you’re saying well, so what, how am I any better off if I have 10% more dollars, but the value of each dollar is diluted 10%. Aren’t I just right back where I started?

Keith Weinhold:
And the answer is no, because remember I said that you have a loan on this property. You might have put a 20% down payment on it. Therefore you had 200 K in equity, but now you’re 200 K in equity. Just went up to 300 K and equity that went up 100 K just like the price of your property did. So therefore you have a 50% return on your skin in the game or your equity. And some people are like, well, wait, how did that happen? That’s because you got a return on both your 200 K invested and the 800 K that you borrowed from the bank. That’s yours too. That’s how you made out you five X inflation because your leverage, you were borrowing money from the bank. And this goes back to the old rich dad, mantra of OPM. You used other people’s money.

Keith Weinhold:
So that’s price inflation. The second one debt debasement is actually something, a lot of real estate investors don’t understand. Let’s say in this example, you have a different building and you have a million dollars of debt on it. Just say you would get 5% inflation per year. Like we’ve been having lately. Well after year one, you only owe the bank back 950 K in inflation, adjusted dollars, not a million bucks. The bank doesn’t ask to be repaid in inflation, adjusted dollars, only nominal dollars. Nominal means in name only. And then after year two, you only owed the bank 900 K and after your 3, 850 K in inflation adjusted dollars because wages are prior higher prices are higher. Inflation’s higher. And your rent income is probably higher. So you have this 50 K tailwind in the second of three points of the inflation, triple crown debt debasement.

Keith Weinhold:
And then the third one rent inflation. The cashflow that you feel in your pocket every month actually rises faster than inflation because your biggest payment as a real estate investor each month is that mortgage principal and interest in that stays fixed. So therefore, if you have 10% rent inflation over time, you might have 20 or 30% cashflow increases during that same time, because your biggest payment stays fixed. That is not indexed to inflation like everything else is. So that’s winning the inflation triple crown. When you have long-term fixed interest rate debt on a cashflow in property, you win with price, inflation, debt debasement and cashflow enhancement. So this is actually good for real estate investors. It actually benefits those in the, in your class.

Ken McElroy:
That’s right. Keith was really well set into, for those of you didn’t understand all of that. My suggestion is that you go back and study what Keith just said and understand the three, because if you want to raise capital or you want to change your financial position, moving forward, you know, this is why this is not a barrier. Your head in the sand moment. This is, you know, this is the reason why Kiyosaki years ago in his book said, savers are losers. He doesn’t mean that you are a loser. What he’s saying is to the same point. If you’ve got a hundred thousand or 10,000 in the bank, you still will have a hundred thousand or 10,000 in the bank, five or six years later, it’s just going to buy you less. So you’ll be able to buy less things with that same amount of money.

Ken McElroy:
So your balance might be the same, but, and so this is why this is what we’re trying to say. So if you can get on the other side of the ledger, somehow, if you can be a landlord and you can put your money to work this way, then you can have inflation work with you. And this is this, and it doesn’t have to be real estate, but you have to find things that are inflation hedges, because your hard earned money, your savings is going to get, um, a debased based on where all this is heading. It already is gas has more, food is more, rent is more housing, more taxes are going to be more like utilities are more, you know, guys wake up like, this is an important time for you. And you need to understand that this is going to happen and, and the government can continue to give you money, but it’s not going to move the needle for you personally, right? Keith?

Keith Weinhold:
Yeah, 100%. And I did start talking about a few numbers there. If that got to be a bit much to keep up with, I’ve set things up so that if you Google the three words, inflation, triple crown, that will take you right to my get rich education YouTube channel. And you can see the video where I put this up on a whiteboard and explain the inflation at triple crown. So inflation is a force that impoverishes most people as time goes on, but you’re turning that over and learning how to use it. And the more you learn about the government and the fact that we have so many debtors in the United States government, like say we owe $10 trillion to China. Well, we have a motivation to debase our dollar because it gets easier to pay back China. If we’ve got 10% inflation and we owe China, $10 trillion will pretty soon, we only owe them 9 trillion in inflation adjusted dollars. And you know, Ken, what this really makes me think about is a substantial influencer on the rich dad school Buckminster, fuller Buckminster fuller said, don’t fight the forces, use them right using inflation and the government’s inflationary mandate to actually benefit you. It’s pretty difficult for you as an individual investor to take down a central bank. So Buckminster fuller said, don’t fight the forces, use them to your advantage. That’s exactly what you can do when you understand them.

Ken McElroy:
That’s right, Keith, you know, and that’s exactly the mantra around Karen macro.com. And that’s what I try to teach is, you know, I’m not going to be able to, to, um, have any control over any of the policy makers, what policies they roll out for, you know, printing money, giving people money, unemployment, um, you know, taxes or any of those kinds of, you know, whatever they’re going to do on the capital gains or the step-up basis, or, you know, the 10 31 exchange and all that stuff it’s going to come, it’s going to be challenged. It’s going to go work goes your job is to understand what’s happening and be on the other side of it and look at it objectively, not about it. See, because a lot of people, what they do is they just sit there and about it. Well, and I’m not saying that maybe you get, maybe you need to get it out, but the point is is that you just be on the other side of it.

Ken McElroy:
So when I went, you know, w when I saw this happening and I’m like, oh, this is this isn’t going to be good. Like, people are not going to be able to afford stuff. And the government’s going to start throwing money. After the first stimulus, I was like, okay, time to double down time to buy, because I’m doing fixed rate debt. I know I’m going to get the rent inflation. And my investors, you know, we just raised, um, $73 million in the last six months of equity. Those that money comes from somewhere. Guys. It comes from savings accounts. It comes from the stock market, you know, and what’s going to happen is that money is going to get invested into these projects and all of those things, including forced equity, because I’m turning around a property, obviously that has high delinquency, a lot of capital work and all that kind of stuff, too.

Ken McElroy:
So they’re going to get that forced equity as well. So we’re going to get rent growth. We’re going to clean up the property. We’re going to get the people out that can’t pay, and we’re going to put them in with people that can’t pay. And what’s going to happen is cashflow is going to go up and my investors win. And this is how you do it. If you’re going to sit back and put your money into savings, you’re going to get annihilated. You have to be proactive with your money. Um, wouldn’t you say? So, Keith,

Keith Weinhold:
Yeah. And to pick up on something that you started talking about, the quote from Robert Kiyosaki savers are losers. Debtors are winners that has never been more true in you, the listener or the viewer here, his entire life than it is now because interest rates have basically fallen for 40 years ever since they peaked in 1981, when mortgages were 18%, if you can believe that. So it’s never been more advantageous to be a debtor. I mean, Ken is an expert in identifying markets, as long as you invest in a good market and buy a property in that market and understand that the market’s more important than the property, because your income streams through that property come from tenants that have jobs. And it’s a sustainable economy with the diversity of economic sectors in that market. That’s really where your income stream originates. That’s what allows you to control that debt, to control that debt service.

Keith Weinhold:
So, um, you know, can, I’m kind of, uh, reminded of something like, um, most people say they want change, but very few people want to change. So expanding your mindset and thinking differently. In fact, I’ve got a great expansionary example for you. Let’s say that, um, you see a man on the street and all you know about that, man is he has $10 million in debt. All right. What are you the listener, the viewer here? What do you think about that guy that has $10 million in debt? Do you feel sorry for him? Do you, do you think that he’s he’s destitute, maybe he’s he’s homeless if he has that much debt? No. If a person has $10 million in debt, once you understand how debt and credit works, you understand that that man must be pretty credit worthy to have even obtained $10 million in debt. If you look at that person with $10 million in debt, understand that net worth is assets minus debt.

Keith Weinhold:
So someone has that much debt. We’re talking about good debt. That’s outsourced the tenants debt, where the payments outsource the tenants. That person may very well have assets of $30 million minus $10 million of debt. A $20 million net worth is what that person has that don’t you think differently about that person on the street now that has that much debt, they actually must be pretty savvy and pretty credit worthy to have that much debt. If you had $10 million in debt tied to cashflow in real estate, which is a 4% inflation rate after one year, you only owe the bank back, say $9.6 million in inflation adjusted debt. You just got a 400 K tailwind because you owe the bank back less in real terms. So this is definitely an expand your means way to think about it. $10 billion in debt. That’s probably a credit to you as long as you’re strategic and as long as you’re doing it. Right.

Ken McElroy:
Yeah. And, and, and guys like keep brings up a good point. So I personally had to break through barriers in my life. My parents grew up and they paid off their house and they believe debt was bad. And so that’s the household I grew up in. So of course, you know, that’s what I heard my whole life. We can’t afford this. That is bad. And I guess what it was true before Nixon took the dollar off the gold standard. You, it was true, but you, you know, and we, we don’t have time to go into all of that. But the point is I had to break through the mental barriers myself to wrap my head around, you know, cause when people think of debt, they think of student loan debt, they think of credit card debt. They think of Autodesk. You know, they think of those kinds of things.

Ken McElroy:
And, and so, you know, those, those are and can be bad, but, but, uh, that’s not what we’re talking about. We’re talking about good debt. We’re talking about borrowing OPM or other people’s money to start a company, start a small business, buy a franchise. That’s an asset potentially, depending on how you run it by real estate, you know, using the system the way that it’s meant to be used when people put money in the bank, it’s a liability for the bank to think about that. So, so if I put a million bucks into a bank, let’s say Wells Fargo, bank of America, chase, it doesn’t matter who it’s a problem for them. They’re like, oh geez. I now owe him me interest now. Yeah. So the bank’s gone. Okay. That’s, that’s really a liability. It’s, you know, cash is an asset to me, it’s actually a liability for the bank if you think about it.

Ken McElroy:
So because they actually, oh, so what they do, they, they take all those people that put all that money into a bank and it’s a liability. So they have to give it to guys like us or you hopefully, and they charge more for it. And that’s how that’s OPM and OPM makes its way back into the system. That is the system. You guys need to understand it. So all of you that are saving like crazy and putting your paychecks in the bank, nothing wrong with that. But that money is a liability to the pension, to the insurance company, to the bank, you know, to the financial institution that takes it, they’re investing it for you. That’s how the system works. And this is why financial freedom is so important. This is why financial education is so important. Because once you start to realize that you need to take control of that, you need to understand how that’s being invested.

Ken McElroy:
You can be the one to get that money to and to, to, to Keith’s point, if you find a building that you know, and the bank says, I’ll give you 70% or 80% loan to value. You’re actually borrowing that money in the form of OPM from other people. And it’s typically, obviously money is, um, you know, a liability for those people. So they’re giving it to you and they’re turning it into an asset. So now I’m paying the bank, the bank’s paying you. So the bank gets the arbitrage and then they pay you with the money that I pay them. That’s how the system works. So, uh, so why not flip it around and be the one that borrows, oh, and don’t forget, you also get, uh, the inflation on that money. You, you, you know, potentially four or 5% right now, you also get the tenants to pay that debt down.

Ken McElroy:
And so there’s all these advantages. And the biggest chunk of money that you get is actually OPM. And so those are forces that you are not going to fight. Those are forces that exist. And, and at least for now they’ve existed for a long, long time. And that is the system guys, you know, w w I just had a group in last week to my office pension, you know, and I got bit, I got a pension company, a life company, and a community bank, all bidding on a project. Now think about how different those three things are. Literally a life company wants to give me money to build an apartment, building a life company, guess where they get the money from the people that had the life insurance policies. That’s where they get the money. That’s what life, you know, life insurance or pension, same thing.

Ken McElroy:
So when you’re giving your money, and I know Keith, you talk a lot about 401ks, same thing. Now those are heavily feed. And there’s, you know, we can go down a whole rabbit hole on that, but when you turn your money over to people, guys, somebody else is investing it for you. And what we’re trying to teach you is you need to be on the other side of the desk. You need to be on the one. And if you to ask the right questions and make sure that you’re on the other side of this inflammation, that’s coming. And, uh, the last thing that you want is to have your savings wiped out as a result of putting your head in the sand.

Keith Weinhold:
Uh, you bring up so many good points. There can, yes, I was not raised with an abundance mindset either. I was raised by two great parents in apalasia upstate Pennsylvania. They taught me the debt is bad and saving money is good. But by that point, you know, we were already de pegged from the dollar being on the gold standard. And that didn’t make sense anymore. But when I came of age and got my first full time job, I believe things like investing in my 401k is good. And I used to do that. I believe things like having a 15 year mortgage on my home is better than the 30 year mortgage. I used to believe that and do that. You can look at all the interest rates savings. You get into 15, over 30 until you compare that interest rate savings with what you could have done with those dollars.

Keith Weinhold:
Had you invested them and not tried to pay down a low interest rate mortgage. So I had to change all these paradigms in my mind is, well, I love how you continue to bring up OPM other people’s money. A lot of people don’t think about it this way. You actually do not want to focus on getting your money to work for you. That’s blasted me to some people, but think about the fact that as a real estate investor, you can get other people’s money to work for you ethically three ways at the same time. So this old fashioned mindset is I’m going to get compound interest to build wealth. For me, I’m only using my own money. There. Compound interest is worn down. If you have a 10% return over the longterm, minus 5% inflation, you’re already down to a 5% real return, minus taxes, minus fees, minus volatility, minus emotion that gets you to buy and sell it the wrong time.

Keith Weinhold:
That’s why compound interest. Doesn’t exactly build wealth in the real world. It looks parabolic on a chart and your financial advisor can show you that. And that can look really interesting, but you need to ask what’s my return. I see what compound interest can do over time. And then the interest earns interest in that earns more interest, but that often gets whittled down to nothing. Once you take a look at the bigger picture and consider drags and understand that you’re only getting your money to work for you. That’s why in the 401k era is where you begin to read all these articles about people that can’t retire actually interviewed the very founder, the inventor of the 401k plan on my show, the get rich education podcast, he’s named Ted Bennett. And he corroborated much of what I just said. 401ks don’t serve people in the way that he intended them to.

Keith Weinhold:
In fact, Ted Benna the 401k inventor. Yeah. The actual guy that invented the 401k. He is a real estate investor today. What you want to do, and can you touch on it is not just get your money to work for you. You actually have the ability to ethically get other people’s money to work for you when you provide them with good housing and you can use other people’s money three ways at the same time, the tenants for the income stream, the governments for the loan and the leverage and the, um, the banks for the loan and leverage rather. And the government’s for very generous tax incentives at scale, you’re actually using other people’s money three ways at the same time in real estate, the tenants, the banks and the governments. That’s a paradigm shift. That’s how one needs to think differently. A person can either be conventional or be wealthy. It’s one or the other, and you’ve got to choose what you want to do. So it’s not just getting your money to work for you.

Ken McElroy:
That’s right, Keith. And, you know, I think it’s confusing guys. I get it. I really, really, really do. There’s a lot of people tugging on you telling you different things. Um, and I appreciate that you, you know, and there’s different levels of risks that we all have. So my PI personally don’t have any debt on anything that I own personally, like my home, my cars, or anything like that. I use that that’s just my own personal choice. I could put debt on it. I could pull millions of dollars out that way if I wanted, but I don’t. And so, but I have lots of debt on my real estate investments and I have over a billion dollars of real estate investments. And so, you know, there’s different levels of risks that you all have. I also don’t believe that you should put all your eggs in one basket.

Ken McElroy:
So in other words, you should not put it all into real estate. You should, you should have a, a nice basket of goods that, you know, and real estate is, is a piece. Now, for me, I’m a little heavy in real estate, obviously, because that’s what I do full time. But for a lot of people that aren’t, they should consider it. And that’s the issue, you know, if you’re heavy in the stock market, it’s a problem. If you’re heavy in real estate and you’re not a professional in real estate, I think it’s a problem. You need to have diversity and, and make sure that you guys have a little bit of cash, a little bit of gold and silver. I actually believe should have a little bit of Bitcoin. And, and you should have a little bit of, uh, real estate should have a little bit of stocks and bonds and, and, and make sure that you guys understand that that’s what I’m talking about by taking control of your financial future.

Ken McElroy:
Because the one thing that’s definitely going to stay guys is housing. Like, just look at the math, go to live births per year, and you can calculate the pressure. That’s going to be put on the economy. You can see it, you can see and then tackle that and then add back on immigration, you know, which was high. And then it was low. And now it’s high. Again, those are real people coming to the, to the U S that need stuff, housing, food, you know, uh, uh, clothing, you know, all those kinds of things. Those are real pressures. So if you just follow the math, it’s a lot easier to me to, to calculate that Keith than to try to figure out is apple stock going up or down, you know? And so I just really think guys that, you know, bet on the long haul here, you know, housing is not going to implode. People need it, you know, especially rental housing, especially where we’re headed. Right. Uh, do you have any final comments, Keith?

Keith Weinhold:
Oh, we just bring up the long-term utility of real estate, you know, invest in what people need, residential real estate, which is where you and I play. Ken is probably had even more utility with what’s happened with the health crisis in the past few years, because now a home is not just where a person lives, but now it’s more likely to be where they work. And now it’s more likely to be where they work out and what people want to grow their own food and have a greenhouse and more people homeschool their kids and all that. So real estate, something that’s enduring has even more utility now than it did just a couple years ago. So the point is you want to play eight worth of winning, invest in something and get knowledge around something. That’s going to have a sustainable, durable human need as far as we can see. And that’s what real estate is.

Ken McElroy:
Yes, I totally agree. So, Keith, how do people get ahold of you? What’s the best way to reach you?

Keith Weinhold:
They can learn more at the get rich education podcast or the get rich education YouTube channel, where I upload about three new videos a week lately. Also I have a free course, the five ways that real estate pays yet real estate investors can actually be expected to be paid five different ways. At the same time, I’ve put together a free video course with five videos. Each video is about 12 minutes long. It’s a great way to understand real estate in about one hour. You can get that course, the five ways real estate pays getricheducation.com/course, and it’s free.

Ken McElroy:
That’s awesome, Keith, and you always providing great value for people. Uh, thank you very, very much for your insight. It’s always fun to catch up with you and see what you’re working on and, and get your perspective and, and, uh, you know, let’s do it again here. Soon as, as, uh, as we start to see the eviction moratorium rollout, the forbearance rollout, it could really, and the migration patterns, you know, that not a lot of people are talking about right now, but, but it’s, you know, some of these, some of these cities counties, states are really changing, uh, from a population standpoint, which is going to drive all kinds of issues around inflation housing, you know, all those kinds of things. So I’d love to get you back on here soon. And, um, dive back into that subject again, Keith. Thank you again. I appreciate it.

Keith Weinhold:
It fires me up to talk about this stuff. Thanks so much for having me, Ken.

Ken McElroy:
All right. Cheers.

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