520: How to Use Other People’s Money for Your Rental Property Loan

Keith discusses his journey from an entitlement mentality to realizing the importance of wealth creation through real estate investing and shares the real estate shockwave that nobody is talking about.

We are also joined by Caeli Ridge, President of Ridge Lending Group, as she explains the differences between owner-occupied and investor mortgage loans.

Hear about the ease of entering real estate investing with no formal qualifications or high income required.

Learn the concept of demographic shockwaves and how the aging population will influence housing demand in the future.

How to ethically use other people's money to build wealth for yourself before you even own a property.

Learn about the key differences between owner-occupied mortgage loans and investor mortgage loans, particularly the use of rental income in qualification.

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Complete episode transcript:








Keith Weinhold 00:01

Keith, welcome to GRE. I'm your host. Keith Weinhold, I'll discuss when I was an employee with a scarcity mindset, the real estate shock wave coming that no one's talking about, then, how you can ethically use other people's money to build wealth for yourself before you even own a property today, on get rich education.



00:24




Corey Coates 01:09

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 01:25

welcome to GRE from Springfield Ohio to Springfield, Missouri and across 188 nations worldwide. I'm Keith Weinhold, and you are listening to get rich education. It's great to have you back for another week, and I genuinely appreciate your listenership, and I am grateful to have such a large audience. I've got to tell you, admittedly, coming out of college and in my first couple full time jobs, I wasn't always a good employee. I guess I had somewhat of an entitlement mentality. I'm not sure where that came from. I don't know that I can blame anyone else on planning it inside me. I don't know where I got this notion. It sure wasn't from my parents, but I kind of felt like somebody owed me a job just because I have a college degree and I'm good at showing up on time, yeah, like, I'm just a good representative for your company. I mean, now I can see that no one owed me a doggone thing. In fact, I owed my employer value. An employer actually takes a big risk on you when they hire you, paying you to train you until you're productive there. I mean, the hiring process itself is even expensive. Well, though I felt like someone owed me a job just out of college, somewhat Oppositely, I never expected any sort of high income at all, and I had quite a modest income in my first couple years out of college, just like a lot of recent college grads do, until it grew into something more. But my humble geography degree, it conditioned me to think lower income. I knew that going to college in Pennsylvania for geography in what interested me, I mean, that's what I went with, what interested me not what I could make money in well, then I...