Creating Wealth Real Estate Investing with Jason Hartman

Jason Hartman shares an important lesson he learned from Richard Nixon and talks a little bit more about the Meet the Masters event and why you must be there. David Porter is the guest for today's show. He has been on the show before many years ago and he updates the audience about some of the big successes he's had with Jason's company. Jason and David also talk about the economy, borrowing money, cool technologies, and more on today's Creating Wealth show.

 

Key Takeaways:

1:30 – Jason did go to the time share presentation and it's still a bad idea to invest in one.

8:10 – Jason talks about Richard Nixon and Richard's trip to the grand canyon

14:10 – Experiencing hardship is often a good thing.

17:00 – Don't miss the Meet the Masters event!

21:25 – David Porter comes on the show for the second time.

26:50 – David talks about his first experience buying a home when he first met with Jason.

30:40 – Despite the financial market crashing, David still felt like real estate was the best way to invest his money.

36:10 – David took his ability to borrow and invested it in a conservative way.

44:10 – With David's extensive shipping background, he tells Jason he's seen a huge increase in retail shipping.

50:10 – Despite the huge debt the US has, they are still very hard to compete against in the global consumer market.

54:30 – There's so much cool technologies out there right now. It's a great time to be alive.

61:00 – Jason and David go back to talking about real estate and David shares more specific numbers on how he is doing.

65:20 – David talks about his own experiences being a property manager.

72:20 – Hiring great property managers will keep your sanity in check.

Direct download: CW20458.mp3
Category:general -- posted at: 9:50pm EST

Jason Hartman is extremely excited about the upcoming Meet the Masters event and hopes you'll be able to join him this year. In his Creating Wealth intro, he talks about Houston, oil prices, the negatives of investing in North Dakota, and looking out for the crooks that just want to steal your money. 

 

Our Creating Wealth guest today is Mitchell Zuckoff. He is the author of 7 books and a professor at the Boston University. He was also a reporter for 20 years and is originally a New York native. He talks to Jason about the Ponzi scheme, how to spot a bad deal, Bernie Madoff, and more in today's episode. 

 

Key Takeaways:

3:10 – There's a lot of scams out there, don't invest in someone who's a crook, an idiot, or untrustworthy. 

6:25 – Jason learned that a diamond can slow down the speed of light. 

10:25 – Jason is excited for the Meet the Masters conference. This upcoming one would be the 16th Meet the Masters event. 

12:10 – Oil prices are down and experts will be talking about that at the Meet the Masters conference. 

16:00 – Jason feels that North Dakota is not a stable economy for real estate investing just yet. 

18:10 – Mitchell talks about the book he wrote about Charles Ponzi. 

25:10 – How did Charles Ponzi start the Ponzi scheme? Mitchell explains. 

29:20 – Based on Charles Ponzi's actions, he didn't consider himself a con man. 

32:10 -  Ponzi's business, or scheme, grew from word of mouth. 

35:50 – If a deal sounds too good to be true, be sure to do a background check before you invest any money. 

39:10 – Do people really fall for those Nigerian email scams? Mitchell says yes. 

 

42:15 – The schemers are always trying to stay one step ahead.

Mentioned In This Episode:

 

http://www.mitchellzuckoff.com

Direct download: CW_457.mp3
Category:general -- posted at: 10:14pm EST

Jason wishes everybody a merry Christmas, talks a little bit about the meet the masters conference as well as gives a quick lists of the next guests that will appear on the Creating Wealth show.

The guest on the Creating Wealth show today is Erik Gantz. Erik came highly recommended to Jason through a business associate and Jason also loved one of Erik's presentations because it was down to earth and not full of marketing hype. Erik talks to Jason about how you can get a good business credit score, how his company works, and some tips and tricks for things to avoid and watch out for.

Key Takeaways:
2:10 – You may meet Erik at the Meet The Masters conference.
7:50 – Jason lists a couple of upcoming shows his audience can expect.
11:50 – Erik uses both personal and business credit to help kick start a company
15:54 – People with good credit average about $100k to $180k in investment money.
22:20 – Erik talks about the steps you need to go through to get a great credit score.
28:40 – So many things can go wrong, so it's important to work with a company that has extensive experience in this area.
31:30 – Erik works with a flat fee, so clients don't have to worry about unexpected charges later on.
37:45 – There are a lot of outside factors that can influence your score. Erik breaks this down further and explains what it all means in this segment.

Direct download: CW_456_REV.mp3
Category:general -- posted at: 11:05pm EST

Today’s Creating Wealth Show is here to give you another taste of what to expect from the upcoming Meet the Masters event in January 2015. Speaking with Jason Hartman is renowned CPA Diane Kennedy, who is full of ideas and advice on topics ranging from international investing and its tax benefits, the ins and outs of LLCs and what your self-managing options are for your real estate investments, to name just a few issues covered.

 

Key Takeaways

07.25 – When you get involved in the issues that Diane Kennedy does, you know all about taxes and the IRS

08.30 – On a more international note, Puerto Rico is a destination that seems to offer everything to some people, and nothing to others.

09.53 – An LLC is a great and conventional way of protecting your assets. Trust it.

16.44 – It’s not to say that using entities are never good. If using them, know which jurisdiction is best. 

22.27 – The Tax Extender Bill was written for those dealing with short sales or foreclosures. 

26.20 – Everyone complains about the US and its laws and regulations, but we should look at ourselves compared to other countries and consider what we have.

28.03 – Diane Kennedy gives her views about real estate, the Holy Grail of tax benefits.

29.56 – You can’t just get away with calling yourself a real estate professional. There are certain hoops to jump through.

34.33 – For more information, head to www.USTaxAid.com

 

 

Mentioned in this episode

 

The Off-Shore Tax Guide by Diane Kennedy

Direct download: CW_455.mp3
Category:general -- posted at: 11:40pm EST

Land contracts are something that a lot of investors have heard of, but maybe don’t fully understand. Jason Hartman invites Meet the Masters speaker, Justin, to join him on the Creating Wealth Show to discuss what land contracts are, how they differ from traditional landlord operating processes and even goes in to what to do if it all goes wrong. He’ll be speaking more in-depth at the Meet the Masters event in January, but here’s a taste of what you can expect.

 

 

Key Takeaways

06.10 – Justin provides his personal experience and how he started to get involved with land contracts. 

09.50 – Land contracts are there to help out those who can’t buy through conventional financing processes.

14.25 – Because of the distinction between owner and deed holder, tenants with land contracts usually have a different mindset which is far more preferable for landlords.

18.25 – Negotiations are currently happening in an attempt to get around an 85% discount on land contracts. 

22.05 – There’s always a risk. Here it is: ‘What if the person doesn’t pay?’

27.18 – If getting into this side of investment, it’s vital to know your legal rights and know how to work with the attorneys. 

34.26 – Don’t get lulled into a sense of security of thinking it’s risk-free, but there are certain options with fewer risks and more chance of success. 

37.00 – Know your land contract buyer and their background before agreeing anything. 

 

38.58 – If you haven’t yet registered for Meet the Masters, time and capacity limits are now running short so be sure to take advantage of a great opportunity and register at www.JasonHartman.com

Direct download: CW_454.mp3
Category:Podcast -- posted at: 10:47pm EST

In a break from the traditional format of the Creating Wealth Show, today features the audio version of Ray Dalio’s educational and informative video How the Economic Machine Works. Dalio discusses a range of topics in-depth to provide a full overview of how the economic machine functions – just a few examples are the inflation/deflation model, de-leveraging and the difference between credit and actual money.

 

 

Key Takeaways

01.24 – The premise for today’s show is to gain an insightful overview of economics, thanks to Ray Dalio.

08.45 – The amount of free, available education options really question why students pay so much for a College degree.

11.27 – Transactions are the lynchpin – they create the three forces which ultimately drive the economy.

14.37 – The main difference between borrowers and lenders is that the former want to buy something they can’t afford, while the latter want to make money into more money.

21.13 – Credit doesn’t necessarily have to be a bad thing; when the purchases can be used to create income it can be a positive, growth-creating technique. 

22.53 – Ray Dalio takes us through his interpretation of the inflation/deflation cycles. 

26.35 – Debt repayments and changing credit-worthiness are issues which have an effect worldwide. 

32.07 – Because you can’t always guarantee that a borrower won’t default on their loan, so debt-restructuring is sometimes a necessary step. 

38.00 – Printing money can have a positive effect on the economy, but it has to be done very specifically.

 

 

Mentioned in this episode

 

How the Economic Machine Works by Ray Dalio

Direct download: CW_453_Ray_Dalio.mp3
Category:general -- posted at: 6:18pm EST

To introduce today’s Creating Wealth Show, Jason Hartman invites Darlene to give a taste of her and her husband’s Roth IRA strategies, of which she will discuss more when she joins the speaker list at January’s Meet the Masters event. She also talks about the positive impact that various masterminding events have had on her personal and professional development.

 

Later, Mark, a client and follower of the podcast joins Jason to talk about a wide-ranging series of topics. Living in Switzerland, Mark provides an international look at some changes in the world’s real estate markets, but they also consider deflation and inflation issues as well as how the mainstream media is largely in bed with the government, regardless of which country you’re talking about. 

Direct download: CW_452.mp3
Category:Podcast -- posted at: 9:58pm EST

Jason Hartman introduces today’s Creating Wealth Show with a discussion about the benefits of being able to travel comfortably, the importance of getting what you want from a conference or event and he poses the huge question: Are we gearing up for another housing crash?

 

With a very clear focus on Wall Street for today’s interview, Jason Hartman invites Mark Faulk, writer and co-producer of The Wall Street Conspiracy to talk about the state of America today, Goldman Sachs’ growing and frankly, scary, influence and the future implications of a police force as militarized as the US’s currently is. 

 

Key Takeaways

03.16 – Earning enough money to travel well and comfortably is as good a priority as any.

06.47 – With speakers confirming and plans taking form, the upcoming Meet the Masters looks to be the best yet.

08.27 – Jason Hartman asks one of the most important questions for real estate investors. 

16.32 – If you’re interested in the future of technology, keep an eye out for an upcoming podcast on the future and impact of these new technologies being developed.

21.18 – The conspiracy starts just with the pretence of being stunned at the 2008 collapse.

26.55 – The plot thickens when companies such as Goldman Sachs get involved internationally.

31.18 – The Wall Street Conspiracy (film) addresses the ways in which this betting tradition is changing.

34.52 – Contacts, connections and corruption mean that this sort of thing goes on worldwide.

38.40 – Public opinion is important here. The demand of the people will create the change. 

43.53 – If the police departments and the Government are preparing themselves, we have to be realistic about what could occur. 

47.19 – For more information about the film, head to www.TheWallStreetConspiracy.com 

 

Mentioned in this episode

The Wall Street Conspiracy a film by Mark Faulk

The Second Machine Age by Erik Brynjolfsson and Andrew McAfee

The Naked Truth by Mark Faulk

Direct download: CW_451_Mark_Faulk.mp3
Category:Podcast -- posted at: 12:56pm EST

For the introduction of today’s Creating Wealth Show, Jason Hartman brings on investment counselor, Sarah, to discuss the impact of masterminding events, tactically managing who you surround yourself with and how the real estate investment marketing is maturing.

 

Today’s guest is Jane Sotkin of Property Place, who provides her wisdom and insight into the tricky topic of emotions. She brings up the interesting idea that emotions are habits formed in childhood, but which if not kept in check, can seriously affect the way your brain works as an adult. 

 

 

Key Takeaways

01.25 – The attitude you display has such a vital impact on your success, it’s incredible.

04.46 – The real estate industry is changing, and with every new technology, it matures faster.

13.46 – Supercharge your investing strategies by surrounding yourself with other successful investors who can push you to work even harder.

19.23 – Joan Sotkin describes how her background led her to her current field of work.

23.17 – Such fundamental things as birth-order and number of siblings can have a huge impact on your psychology as an adult.

28.00 – It doesn’t matter how you process these emotions, but it is vital that you find a way that works for you.

35.40 – We think our lives are set in stone but they’re not. They’re always flexible and changeable. 

40.59 – A big part of success is about sticking to what you believe and paying little attention to how others judge you.

42.55 – Find out more about Joan Sotkin and get access to some great resources at www.PropertyPlace.com

 

 

Mentioned in this episode

Build Your Money Muscles by Joan Sotkin

 

www.PropertyPlace.com

Direct download: CW_450_Joan_Sotkin_Prosperty_Place.mp3
Category:Podcast -- posted at: 3:09pm EST

Jason Hartman brings in a real estate focus to the introduction of today’s Creating Wealth Show by explaining exactly how you can work out your rent-to-value ratio. As this is one of the most important figures a real estate investor need to keep in mind, there’s no excuse for deceiving yourself.

 

Later, he invites Tim Carney, author of The Big Rip-Off and Obamanomics and writer for the Washington Examiner to come on the show and give his thoughts about the huge and potentially irreversible impact that big business and big Government are having on America. They also discuss topics such as human rights to information and what you say when Goldman Sachs offers you a position.

 

Key Takeaways

03.14 – In some markets, you can’t control the rent-to-value ratio, but you really want to aim for 1% per month or above.

10.35 – Seemingly, the bigger you get, the more you can get away with.

14.18 – Tim Carney provides some examples where regulation seems to have an alternate outcome to what was hoped.

18.12 – A look at the options of how we can possibly dislodge the power of big business and government. 

19.19 – Politics and the economy are starting to work together because fewer people are now gaining from a specific policy.

21.50 – Government agencies don’t even have to worry about subtlety; if they want you they’ll do what they can to get you.

23.34 – Why is it that they can spy on us and we get no information about Government actions, even when they affect us?

25.15 - Big business benefits from and lobbies for big Government to the detriment of the consumer, the competitor and the tax payer. 

27.44 – Technology could be our undoing or it could be our liberation. We’ll have to wait and see.

30.02 – To read Tim’s articles, head to www.WashingtonExaminer.com and his Fellowship is with the American Enterprise Institute: www.AEI.org 

 

Mentioned in this episode

The Big Rip-Off by Tim Carney

Obamanomics by Tim Carney

www.AEI.org

 

www.WashingtonExaminer.com

Direct download: CW_449_Tim_Carney.mp3
Category:Podcast -- posted at: 9:06pm EST

Inspired by an article from Business Insider, Jason Hartman invites Dan Egan of Betterment onto the show to expand upon the idea of market timing. While much of the focus is on Wall Street and how market timing works in the stock market, a lot of these ideas can be applied to real estate investing. They also discuss topics such as long- and short-term capital gain, high-frequency trading and how happy we are with our own achievements in absolute terms. 

 

 

Key Takeaways

01.17 – Is successful market timing just an unachievable myth?

05.04 – Market trends can come in any form – currently we’re seeing a shift to the South by retiring baby boomers searching for warmer climes.

08.54 – We think about the social and political issues in China, but what about the real estate conditions?

17.15 – Stock trading investments are all about assessing long and short-term achievements. Remember that the government views capital gain in terms of short or long-term. 

17.58 – Dan Egan describes the ‘bid ask spread’, an economic term for the costs you never see a bill for.

21.20 – High-frequency trading might not be everything it’s cracked up to be. You have to compare the situations of the big traders with average Joe’s actions.

27.00 – Personal satisfaction is hugely important, but it’s always competing with our comparisons to the people around us.

29.15 – For more information about Dan Egan and his company, head to www.Betterment.com

 

 

Mentioned in this episode

www.Betterment.com

Flash Boys by Michael Lewis

Direct download: CW_448_Dan_Egan_Market_Timing.mp3
Category:Podcast -- posted at: 8:45pm EST

In today’s Creating Wealth Show, Jason Hartman invites Jerry Robinson, author of Bankruptcy in Our Nation, to the show to share his views about what bankruptcy would look like. They discuss a variety of topics and consider frankly just how bleak America’s future could look. Robinson also gives his opinion on the impact of America’s international relations, as well as posing the interesting notion that we can see the path of America’s future by looking at the past of the rest of the world.

 

Key Takeaways

03.50 – Negotiating certain aspects of the deal with your property manager is always worth a try.

10.00 – Jason reads through some of the latest listener reviews from iTunes. Is yours there?

22.40 – Jerry Robinson’s Bankruptcy of Our Nation deals with facets of the economic crisis such as what happened, why it happened and what we thought would happen.

25.00 – In a number of ways, the 2014 picture we draw now looks very similar to the state of the world in 1914.

33.47 – No-one does anything for nothing. A closer look at the incentives can provide a lot of insight.

38.00 – The psychological impact of the economy is already taking an effect. People now expect prices and values to go up, and are surprised if they don’t.

46.06 – Maybe we need to reassess our definition of evil to better match today’s global situation.

50.15 – If the relationship between the US and Saudi Arabia changes, it could change the entire balance of power in the Middle East.

52.04 – Exports are always going to be vital, and we need to consider the impact if the US becomes energy-independent.

1.00.34 – International threats, and especially those involving cyber-attacks, must be taken seriously. Even if you’re living in a city, know the precautions you can take.

01.04.00 – Find out about Jerry Robinson’s Five Levels of Financial Freedom at www.FTMDaily.com/fivelevels

01.10.08 – With mortgage debt, as an investor you don’t even need to pay this off yourself – your tenants pay it off for you.

 

Mentioned in this episode

www.zillow.com

 

Bankruptcy of our Nation by Jerry Robinson

Direct download: CW_447_Jerry_Robinson_Bankruptcy_Of_Our_Nation.mp3
Category:Podcast -- posted at: 9:25pm EST

Jason Hartman’s introduction for today’s Creating Wealth Show focuses around the notion of being an empowered investor. This is the main theme for the 2015 Meet the Masters Event, but is also a vital concept to keep in mind for all of your investment strategies.

Today’s interviewee is none other than Jason’s Aunt Joan, an incredibly successful real estate investor who, together with her husband, owns more than 70 single-family homes around the Sacramento, California area. ‘Old-School’ seems to be the buzz-word of choice, but Joan talks about how she got into real estate, why she still loves it and gives some great advice about property management and keeping your tenants on side. 

 

Key Takeaways

02.27 – How do you become an empowered investor? Find out here and at the Meet the Masters event.

08.27 – The concept of win-win isn’t enough. At least 3 levels means that everyone’s interests are aligned.

16.42 – Jason Hartman asks his influential Aunt Joan about the beginning of her successful lifetime of real estate investing.

22.17 – Low-priced markets might look like the easy way in, but issues could mean big problems later.

29.36 – The Cyber Monday sale at www.JasonHartman.com is now on, with discounts of up to 40%.

36.39 – The information offered by Aunt Joan is available at www.SacRentals.com

42.40 – Be aware, both as an owner and a tenant, about who is paying the city utilities. Owners, flaky tenants could mean this is your responsibility.

45.45 – With tenant selection being so vital to success, you really need to master this in the early stages.

 

51.02 – One of the reasons that real estate retains such popularity is because it’s such a tangible thing. 

Direct download: CW_446.mp3
Category:Podcast -- posted at: 7:05pm EST

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