Thu, 9 August 2018
CW 1039 - On Location From the Fed, KC Market Profile & Investing Integrity of the Centimillionaires with Richard Wilson, Part 2
Jason Hartman starts today's episode from the Money Museum, on location at the Kansas City Fed with KC LMS Dave. The two discuss the Kansas City and the Quad Cities rental markets, what you can get for your money in each and what to expect area wise.
Then Jason finishes his interview with family office expert Richard Wilson as the two discuss how much money it takes to make a family office, the importance of integrity in business and investing, and which niche domination can be a good strategy.
[2:58] It only takes 24 minutes to print 10 million new $100 bills
[7:00] What are the Quad Cities and what is the market like there?
[11:23] The types of repairs being done on Dave's properties to make them turnkey
[14:39] The cost of rehabs have gone way up over the past 7-10 years
[16:37] Dave's advice for what type of property is the best for an out of area investor
Richard Wilson Interview:
[21:34] The net worth you need to make a family office worthwhile
[25:20] Niche domination as a strategy
[29:20] If you don't have a focused approach to investments, and don't do things highly intentional, you'll never have synergy
[31:20] You need to have a dashboard and compass as to where you want to go, and it needs to be documented
[33:52] Everything in your life and business needs to have integrity