Wed, 19 September 2018
Jason Hartman is joined by his "brother" Dan as the two discuss the value networking. Dan (who Jason considers to be one of the best networkers he's ever met) gives some tips on how to break through to your networking targets, and how crucial the network becomes when recessions start affecting you.
Jason also goes over some new information he discussed in the previous episode, as he discovered how much money millennials are actually spending on rent and what that's led them to give up.
[1:38] Is Jason the most experienced person in his field? Try and beat his roughly 10,000 deals
[5:32] The value of networking
[11:00] Always be conscious of the other person
[14:58] Millennials are spending 45% of their income on rent
[20:39] What has to give when the percentage of income is higher than before?
[23:41] The financial crisis was 10 years ago last week, and terrible advice is still being given
[26:16] In downturns, the people who get the bailouts and the most help are people with the high loan balances
[28:58] Your network is going to be even more important when downturns happen
Mon, 17 September 2018
Jason Hartman starts off this backward show with guest Scott, who's an attorney who will be speaking at the upcoming Profits in Paradise about asset protection. The two explore the benefits of a Series LLC and some best practices for asset protection. Then Jason goes solo and discusses where wage growth is happening in the US (and where it's not), and how trade wars and interest rates are connected right now.
[3:25] What is a Series LLC and how can it benefit a real estate investor?
[6:43] The best asset protection you can get defeats lawsuits before they even start
[11:45] What kind of things will Scott be presenting in Hawaii?
[17:57] The first part of asset protection is financial privacy
[20:24] Real wage growth in Hispanic homes was more than 2x other households
[25:22] Looking at rent paid like your tenant was your employee
[28:18] The only linear market in the top wage increase list is Colombus, OH.
[29:40] Trade wars are keeping interest rates lower
Fri, 14 September 2018
Today's Flash Back Friday comes from Episode 705, originally published in July 2016.
Live events offer investors an opportunity to meet other investors who are successful using the long-term buy and hold strategy, to hear about real life examples of the acquisition process and to learn the tips and tricks which can make an investor’s life easier. This episode is full of useful information which is framed around real client questions including what were Jason’s biggest mistakes.
[11:00] Why did Jason choose real estate for his career of choice?
[13:19] Buy cash flow properties which make financial sense the day you buy them.
[19:35] Should you keep your property managers on a short leash by adding discretionary measures to your contract?
[26:56] What was the biggest mistake Jason made and how did it affect his life?
[34:02] Live events are a loss leader for us but they are beneficial for clients.
[36:18] Phoenix, Arizona is the site of the new event which includes a Q & A panel discussion and a best practices for acquisition example.
[41:09] What are the top 3 qualities a real estate investor should possess or develop to be successful with the buy and hold strategy?
Mentioned in This Episode:
Wed, 12 September 2018
Today's episode features Jason Hartman himself explaining the dangers of identity theft and how it's changed over the years. We all know that sometimes our credit card numbers get stolen, but it's gotten much more sophisticated than that these days. Jason also explores the maladies that impact all economies and what the Fed is saying about our economy today.
[4:24] Identity theft is much, much more than just financial theft
[9:18] It's easier to engage in identity theft and financial fraud than committing physical crimes
[16:37] What is money?
[20:22] The 3 basic maladies that happen in an economy throughout history
[24:10] The Fed tells us what to expect moving forward (hint: it's higher rates, slowly)
[27:05] When wage growth will start worrying the Fed & where Jason thinks you can look to see what inflation is really doing
[32:40] Will the Fed overdo it?
Mon, 10 September 2018
Jason Hartman takes aim at some important news in today's episode. The episode begins with a look at the first real wage increase in years, and how that may impact interest rates moving forward. Then Jason discusses his idea of "Economic Berlin Walls", jobless claims, communism vs capitalism, "Personal Keynesianism", and jobless claims.
[1:18] Wage increases are contributing to rising interest rates
[3:39] The trade wars impact on interest rates
[8:14] Looking back at the times in his life when he was financially strapped, Jason realized that consumer goods used to be WAY more expensive than today
[12:17] Housing price increases are slowing
[15:04] States are building "Economic Berlin Walls" to try and keep their residents for tax purposes
[17:45] Jobless claims have hit a 49 year low
[22:45] Karl Marx, indirectly responsible for the death of 150+ million people thanks to his communist ideas
[28:19] Globalism may have hurt the American worker more than anything else
[36:25] "Personal Keynesianism": Where you prime your own pump by having access to easy credit
Fri, 7 September 2018
Today's Flash Back Friday comes from Episode 812, originally published in April 2017.
To start the show, two clients who bought properties at the Creating Wealth Seminar and Memphis Property Tour tell their stories of why they do business with Jason’s company. And, later a recording from the Venture Alliance Mastermind in Las Vegas with Jeff. Jeff details how he creates balance in his life and has a successful career.
[1:27] Adam bought his 9th property during the Memphis Property Tour.
[4:32] A client who likes doing business with Jason’s organization because they provide a one-stop shop.
Las Vegas Venture Alliance Recording
[10:24] Jeff breaks things down into quarterly and daily goals.
[13:04] How Jeff strategically forms his 4 key goals.
[18:22] Meditation is a key component of successful people’s lives.
[22:23] The importance of teaching and growing every day.
[26:13] Choosing to create a leader, not a doer.
Mentioned in This Episode:
Wed, 5 September 2018
Jason Hartman spends today discussing the future climate of home supply and mortgage rates as we move into a world of higher rates and greater inflation. Jason sees a future that involves more Adjustable Rate Mortgages (ARMs), people unwilling to sell because they aren't willing to give up their low interest rate, and how the housing market could become even more stagnant.
Then Adam talks with one of the lenders from the network to discuss where rates are today, if the Fed raising rates will impact investors, what things might impact rates in the next few months, and more.
[2:56] Labor unions don't have the same cause/need today as they did when they were created and were desperately needed. Today we see technical tyrrany
[4:58] The popularity of Adjustable Rate Mortgages is set to increase
[8:25] An interest side effect to the way housing inventory and rate play out together
[12:10] Investors with mortgage assets are about to be seriously aided by Inflation Induced Debt Destruction
[14:58] Long low rate mortgages leads to a stagnant market with less price discovery because people don't want to give up their rates
Adam's Mortgage Minutes:
[19:35] Rates right now are in the high 5s
[24:04] The rise of quantitative tightening
[28:24] Any news items expected that could impact rates in the next 1-2 months?
Mon, 3 September 2018
Jason Hartman has a check in for this client case study with Drew. Drew recently took charge of 6 homes in the Indianapolis market to self-manage, and has a nice story of increased profit to accompany it. After adjusting rents to meet market prices and getting rid of management fees and the like, Drew has been able to increase his monthly cash flow by around $1,300.
Drew explains to Jason how he's formed relationships with his tenants that have been incredibly helpful to his bottom line, the software he's using for management, and how much time it's actually taking him per month to manage his properties.
[3:12] Where Drew has started self managing and why
[7:15] Drew put money into his property but came out ahead financially
[12:47] Always remember that your tenants are your customers
[18:07] Drew has raised his income by over $1,300 a month since he started
[23:37] How much is Buildium and why did Drew choose it?
[26:13] How much time per property is Drew spending a month? How long does a rent ready take?
[34:51] Just because you start self-managing doesn't mean you always have to. If you change your mind there's always another option
Fri, 31 August 2018
Today's Flash Back Friday comes from Episode 560, originally published in August 2015.
If you are in control of your life your kids do not talk back to you, you tell the waiter your food is subpar and you believe in every single word you say. If the aforementioned doesn’t ring true for you then you need to “grow a pair” and get your house in order. If you decide not to tell someone they are stealing your time and money at your business then by default you are condoning it. Larry believes you are providing people a service by telling them the truth. They need to experience the failure and the pain in order to allow them to learn from their mistakes. Keeping quiet doesn’t help anybody.
[4:56] Is this the beginning of the economic meltdown
Larry Winget Interview:
[8:07] Entitlement is the biggest enemy to our society
[8:59] People need stronger opinions and need to stand up for them
[9:44] Living on the edge is what gets one into history books
[10:50] The “I have a pair” test
[12:16] If you put up with something you condone it
[12:50] If you want to do the other party a service speak up about crappy service
[13:54] Peale’s “ruined by praise than saved by criticism” quote
[14:57] Ground your opinion and refuse to create drama
[16:14] I provoke people on purpose
[17:33] Which is better having rabid fans or rabid enemies
[19:35] I can count on my haters, they buy my products
[20:28] Numbness is a caused by a of lack of confidence in a speaker's’ faith in what they say
[21:51] Businesses can grow a pair by refusing to tolerate thieves or 20% of their employees
[23:27] We expect more out of our government than we expect out of ourselves
[25:21] Being in the middle is a safe place but it’s no fun
[27:12] Honest and open communication isn’t welcome in a world of political correctness
[28:44] I respect all opinions on my social media page
[30:38] It’s not about changing somebody else it’s always about yourself
[32:49] Kid’s need to experience failure and friends need the truth
Wed, 29 August 2018
CW 1049 - Is A Recession Coming, Trickle Up Default, Yield Curve, Short-Term Rentals Hawaii Conference & More
Jason Hartman and Doug take today's episode as a chance to look at some key happenings in our world today. By now you've heard Jason discuss how there's a softening in prices at the top of the housing market that is likely to slowly trickle down into other price ranges, but Doug says there's another metric to look at that's also telling us a recession is headed our way.
With stocks on a 10 year run, we know it can't stay this way forever. Jason and Doug look at whether the US investor's propensity to demand immediate gains by companies may be hurting us against our foreign competitors. They also look at the upcoming Profits in Paradise event and what's happening in the short-term rental market.
[2:07] Doug says there's a better sign of an upcoming recession aside from an inverted yield curve
[5:34] Trickle up poverty
[8:46] The rich have resources in the hard times (helping them get richer), the poor get hurt by them
[11:56] We're now on a 10 year run in the stock market, how much longer can we go?
[15:53] Asia's long term view for companies could be a problem for instant gratification that the US is plagued with
[19:14] Long economic expansions makes people forget that counterparty risk is real
[23:49] This housing slowdown is starting at the top and will work its way down
[26:36] What Doug is excited about for Profits in Paradise
[30:48] Where is all the additional demand for hotels and short-term rentals coming from?
[33:04] The best strategy for short-term providers