In this final podcast of 2017, Chris sits down with Robert Helms and Russell Gray, better known as The Real Estate Radio Guys. They run one of (if not the most) popular podcasts on real estate investing.
Chris and I got to know Robert and Russ well during this year's Summit At Sea, their week-long investing seminar, at which Peak Prosperity received a featured spot among the faculty. It was a pretty amazing experience, both in terms of the knowledge exchanged as well as the personal access to speakers like Simon Black, Douglas Duncan (chief economist of Fannie Mae), Peter Schiff, Robert Kiyosaki, Brien Lundin, and other notables.
As things gear up for the 2018 Summit At Sea (April 6-15th), Robert and Russ explain what participants can expect from this year's experience, which will include extensive guidance on the implications for investors (real estate and otherwise) resulting from the passage of the first major tax overhaul since 1986. Those interested in learning more about the Summit At Sea can click here.
The fact that it's more difficult to learn to invest in real estate than the stock market is actually a benefit, because what it does is it separates you. Real estate is not a perfect market. The stock market is essentially a perfect market. Yes, there's certainly some insider trading that happens, but it’s not supposed to — it’s illegal. In real estate, insider trading is exactly what makes the market the market it is. When you have knowledge of a market demographic or a product type that somebody else doesn’t, because you’re more diligent and more studious and better connected, then that gives you an advantage.
And so, the fact that it takes some time means that the folks that are willing to put that time in are going to be more serious about it. It’s an investment of time. As investors we want to see a return on anything we spend our money on, so education shouldn’t cost you money — rather, it should make you money.The lifestyle that you create from the things that you learn, and then putting those things into action, can be extraordinary.
We look at real estate as the ultimate asset. As they say, they’re not making any more land. And as Mark Twain said, "Don’t wait to buy real estate. Buy real estate… and wait". Over time, there will be more demand for land — and not just from a housing perspective, but agriculturally and commercially. There are so many different uses for it. And of course, hard assets like gold, silver, and oil all come out of the land — and we’re big believers in those, too.
Click the play button below to listen to Chris' interview with The Real Estate Guys (Russell Gray and Robert Helms) (44m:21s).