Creating Wealth Real Estate Investing with Jason Hartman

Jason Hartman sits down one on one with his audience to talk about a couple of important things in the real estate market. He talks about why creative real estate investing is not beneficial to his clients, he also talks about Merrill Lynch's annual report on retirees, California's drought problem and why it matters to the rest of the US, and much more on today's Creating Wealth show. 

 

Key Takeaways:

1:10 – Can you believe we're almost at our 500 episodes? 

5:00 – Jason shares his story about a creative real estate 'guru' and why creative real estate is not practical for his clients. 

5:05 – Big corporations must have a budget just to pay government fines. 

20:20 – Jason touches on the subject of the water problem in California. 

27:05 – Jason breaks down how much water it takes to grow a single vegetable, nut, and fruit. 

31:30 – Zillow came out with four interesting statistics about the United States real estate market. 

 

39:10 – Remember to sign up to Jason Hartman's Memphis tour at JasonHartman.com

 

Mentioned In This Episode:

The Water Secret by Howard Murad 

Diet for a New America by John Robbins 

Irrational Exuberance Part Two by Robert Shiller

Zillow

 

JasonHartman.com

Direct download: CW_496.mp3
Category:general -- posted at: 9:38pm EST

Meredith Whitney is the founder of Meredith Whitney Advisory Group and author of, “FATE OF THE STATES: The New Geography of American Prosperity.”

 

Whitney believes “interior” states like North Dakota, Indiana and Texas are doing a lot better than “coastal” states like California, New York and Florida. She thinks the coastal states continue to struggle long after the recession, while the middle of the country will continue to thrive.

 

Keeping these in mind, she discusses the outlook for the following areas:

- Housing prices

- Jobs

- Quality of schools

- Transportation

 

She also shares her advice to help troubled municipal and state governments.

 

Visit the Meredith Whitney Advisory Group at www.meredithwhitneyllc.com.

Direct download: CW_495.mp3
Category:general -- posted at: 9:00am EST

In the introduction portion of the Creating Wealth show, Jason Hartman answers two voicemail questions left by his listeners. He then introduces Richard Vague as his guest for today's show. Richard Vague is one of the few economists who are currently talking about the problems of massive private debt. He is the author of The Next Economic Disaster and talks to Jason about China's economic problem along with some interesting facts and correlations about the US economy. 

 

Key Takeaways: 

8:00 – Jason talks about the 6 ways the government can get out of its mess. 

11:20 – Jason answers a listener voicemail question. 

18:50 – A listener asks about 3D printing a house. Jason shares his thoughts. 

24:30 – Jason introduces Richard Vague to the show. 

29:15 – Richard talks about China's debt problem. 

35:10 – Private debt growth leads to higher interest rates. 

38:15 – Richard gets his stats by looking at all consumer and business debt. 

42:30 – A lot of economists don't include private debt in their model. 

49:00 – What should we do to avoid the next economic disaster? Richard explains. 

 

51:10 – Quick recap, what are the stages of an economic crisis? 

 

Mentioned In This Episode: 

The Next Economic Disaster by Richard Vague

 

http://debt-economics.org/

Direct download: CW_494.mp3
Category:general -- posted at: 3:09pm EST

In today's introduction portion of the Creating Wealth show, Jason Hartman invites Sarah on to the show to talk about the Memphis market. Jason also announces a property tour for the Memphis area in May, so be sure to buy your early bird tickets now before the price raises at JasonHartman.com. Today's Creating Wealth principle guest is Andrew Zatlin. He is an economists and is famously know for his Moneyball Economics. He sits down with Jason to talk about Hookernomics, how you can learn where the market is going by simply talking to escorts, the unstable Japanese economy, how gold will drop in prices, and much more on today's episode. 

 

Key Takeaways:

1:50 – Huge interest in the Memphis market right now. 

6:05 – Jason talks about the Memphis property tour schedule and dates. 

14:10 – Jason introduces Andrew to the show. 

16:45 – Most policy makers out there have an old-fashioned way of approaching this very new economy that we're in. 

27:16 – Andrew explains why he decided to interview escorts and prostitutes about the state of the economy. 

42:00 – Andrew set out to find the true data points that really matter to our economy.

50:45 – China has created a super bubble for themselves and they are bond to crash. 

53:20 – Japan doesn't make thing any more and they're also in big trouble. Andrew explains further. 

57:30 – Jason and Andrew touch on the gold bug subject. 

 

62:40 – There's a free report on MoneyballEconomics.com that shows you how vices, hookernomics, can show you what's going on in the economy right now. 

 

Mentioned In This Episode:

http://www.moneyballeconomics.com/

 

http://blogs.wsj.com/moneybeat/2013/10/22/southbays-zatlin-goes-moneyball-on-economic-data/

Direct download: CW_493.mp3
Category:general -- posted at: 7:34pm EST

In the beginning, Jason Hartman created the 10 Commandments of Successful Investing, and he saw that it was good. But then he lived and learned and realized there was a desperate need for 10 more. Listen in as Jason Hartman discusses The Next 10 Commandments of Successful Investing. This keynote speech was taped live at the opening of our 2013 Meet the Masters of Income Property Investing Event at the Hyatt Regency in Irvine, California. With all deference to the Big Guy upstairs, when it comes to income property investing, Jason Hartman realized that 10 commandments simply weren’t enough to cover such an important topic. Not when creating financial independence is at stake.

What’s in the new commandments? Another generous helping of the kind of nitty gritty (and free) income property investing educational detail you’ve come to expect from Jason. Commandments 11-20 include:

Thou Shalt Not Be a Sucker

Thou Shalt Have a Reality Check

Thou Shalt Embrace Fragmentation

Thou Shalt Make Rational Decisions

Thou Shalt Look at the Big Picture

. . . and five more critical NEW commandments

In case you haven’t committed the original 10 Commandments of Successful Investing to memory, here’s a quick refresher::

1. Thou shalt become educated: Knowledge is a powerful tool. Do your due diligence and become your own best advisor.

2. Thou shalt have a professional investment counselor: Only invest with investment professionals who stay with you for the long term. Advisors should buy for themselves what they sell, putting their money where their mouth is, and get paid for producing results rather than simply for advice.

3. Thou shalt maintain control: Never leave your financial future in the hands of incompetent, unethical, or greedy brokerage houses, fund managers or corporations. Always be a direct investor.

4. Thou shalt use prudent financial planning techniques: Always invest with your goals in mind (retirement, financial freedom, creating wealth) and abide by your risk tolerance and investing style.

5. Thou shalt not gamble: Be a prudent, long-term value investor, never a get-rich-quick gambler, speculator, or flipper. Invest only in properties that make good financial sense the day you buy them.

6. Thou shalt diversify: reduce risk and maximize returns by investing in several areas, as every market is different.

7. Thou shalt be Area Agnostic™: Only invest with an advisor who is not partial to any one area or investment to avoid a conflict of interest. Don’t fall in love with your home geographical area!

8. Thou shalt borrow to maximize leverage and accelerate wealth creation: Use as much borrowed money and as little of your own money as possible as long as the borrowed money can be repaid by the tenant. Let other people’s money work for you, reduce your risk, and make you wealthy.

9. Thou shalt only invest where there is universal need: No one needs stocks, bonds, or gold but everyone needs a place to live, and with growing affluence around the world, consumption of raw materials will continue to cause upward price pressure on improved real estate.

10. Thou shalt invest only in tax-favored assets: Non-cash write-offs and deductions are money in your pocket and income property offers the best of both.

Direct download: CW_492.mp3
Category:general -- posted at: 8:00am EST

Jason invites Diane Kennedy on the show to talk about taxes and how to save you money. Diane is an experienced CPA and helps her clients all over the world with their taxes, accounting, and investing. The main subject of today's focus is why you should get real estate professional status, the benefits it provides, and what you need to do in order to qualify. 

 

Key Takeaways:

2:40 – The government takes a big cut whenever you sell stocks and precious metals, but that doesn't happen with income property. 

7:40 – Diane explains what the charitable remainder trust is. 

13:05 – There are three tests you need to qualify in order to get the real estate professional status. 

20:00 – What is the an aggregation election? Jason explains. 

29:50 – If you have a property manager, it's going to be hard for you to qualify. It is best in this case to self-manage your properties. 

34:15 – This stuff is complicated! Get advise from a good CPA and attorney before it's too late. 

36:00 – Why do you even want to get real estate professional status? Jason breaks it down. 

 

42:30 – The government wants you to own property. They are even incentivizing you for it. 

Mentioned In This Episode:

 

USTaxAid.com

Direct download: CW_491.mp3
Category:general -- posted at: 7:21pm EST

 

On today's Creating Wealth introduction, Jason invites Memphis and Little Rock market specialist, Jeremy on to the call. Jeremy talks about his interest in physics and what's going on in these two real estate markets right now. Jason invites Peter Sage from Extreme Entrepreneur to be today's Creating Wealth guest. He is a serial entrepreneur who started his first business at 17. Fernando also joins as guest co-host with Jason and the two ask Peter a series of insightful questions. On the show, Peter shares insight as to why he had a drive to become an entrepreneur, how to find your passion, your why, and much, much more on today's episode. 

Key Takeaways:

2:30 – Jeremy talks about the double split experiment in physics. 

13:20 – What's currently going on in the Memphis and Little Rock market? 

18:30 – Jason introduces Peter Sage and Fernando on to the show. 

28:30 – Get in touch with what you're passionate about. Ask yourself questions about your life purpose. 

39:40 – Why is it that some people struggle to change and others don't? Peter explains. 

61:30 – How do we prevent ourselves from falling back into the same old routine? 

68:20 – Peter talks about his purpose and his why. 

73:20 – Peter talks about his space-based solar power energy project that he started. 

 

78:30 – Pharmaceutical companies are not interested in curing diseases, they only want to maintain them. This current medicine model has to change. 

Mentioned In This Episode:

Start with Why by Simon Sinek 

The Purpose Driven Life by Rick Warren. 

 

The Power of Now by Eckhart Tolle

Direct download: CW_490.mp3
Category:general -- posted at: 2:00pm EST

Jason Hartman talks with acclaimed financial advisor Ric Edelman.  Barron’s has six times (2004–2009) ranked Ric Edelman among America’s 100 top financial advisors. In 2009, Ric was ranked the #1 independent financial advisor in the nation by Barron’s.

In 2004, Ric was inducted into the Financial Advisor Hall of Fame, ranked by Research Magazine for his focus on the individual client and ranked #42 on Registered Rep magazine’s list of “America’s Top 50 Advisors.” Inc. magazine three times named the firm the fastest-growing privately-held financial planning firm in the country. Ric received an honorary doctorate from Rowan University in 1999, and in 2007 was inducted into the Rowan University Public Relations Student Society of America Hall of Fame.

As a #1 New York Times best-selling author his five books on personal finance include Ordinary People, Extraordinary Wealth; The New Rules of Money; Discover the Wealth Within You; What You Need to Do Now; and the personal finance classic, The Truth About Money. His sixth book, The Lies About Money, was published in the fall of 2007 by Simon & Schuster and his latest book, Rescue Your Money, was published in the spring of 2008.  Ric’s books have been translated into several languages.

As a national radio show host on ABC Radio Networks, he can be heard on radio stations throughout the country. The live call-in advice program has been on the air for more than 15 years and earned Ric the A.I.R. Award for Best Talk Show Host in Washington D.C. (1993).  He also publishes a monthly newsletter, has built one of the most comprehensive and free online educational resources about personal finance at RicEdelman.com, and is the author of video and audio educational systems that help people achieve their financial goals.

Philanthropic Activities include Rowan University. They also funded the Edelman Nursing Career Development Center at Inova Health System Foundation. Ric served six years on the Board of the United Way of the National Capital Area and in 2007 completed his two-year term as Chairman of the Board. He also serves on the boards of The Boys & Girls Clubs of Greater Washington, D.C., and its foundation. Ric also is a full partner of the American Savings Education Council and the Jump$tart Coalition for Personal Financial Literacy. He is a former board member of Junior Achievement of the National Capital Area and served for three years on the Grants Committee of the Foundation for Financial Planning, where he remains a major donor. They also actively support HEROES Inc., Make-a-Wish Foundation, The Leukemia & Lymphoma Society, and many other charities.

 

As Chairman and CEO of Edelman Financial Services LLC. He is also President and Director of Sanders Morris Harris Group. Ric is an Investment Advisor Representative and offers advisory services through EFS an SEC-registered investment advisor. He is also a Registered Representative of and offers securities through Sanders Morris Harris Inc., an affiliated broker/dealer, member FINRA/SIPC.
Barron’s ranking “Top 100 Independent Financial Advisors” (Aug. 31, 2009) based on assets under management, revenues the advisors generate for their firms, and the quality of their practices.

Direct download: CW_489.mp3
Category:general -- posted at: 12:11pm EST

In Jason Hartman's introduction portion of the show, he answers a listener question about the due on sale clause and transferring your property into a single member LLC.  Jason also welcomes guest John Michael Greer to the show. He is the author of several books with the most recent one being The Wealth of Nature. In the show today, Jason and John talk about the US economy and some of the key issues that it currently has in today's market. 

 

Key Takeaways:

1:40 – A listener question is played about quick claim deeds. 

6:50 – Would a judge even uphold a due on sale clause for single member LLCs? 

13:45 – Jason touches on rent to value ratios and talks about $415 rents around the country. 

19:50 – Jason introduces  his guest John. 

29:20 – John and Jason explain what externalities are. 

40:30 – We tax the wrong things, we shouldn't be taxing earned income. 

 

48:00 – People are smart and they will always find a way to game the system. 

 

Mentioned In This Episode: 

HotPads.com

VisualCapitalist.com

The Great Crash, 1929 by John Kenneth Galbraith

The Wealth of Nature by John Michael Greer 

 

http://thearchdruidreport.blogspot.com/

Direct download: CW_488.mp3
Category:general -- posted at: 9:14pm EST

Jason Hartman invites his mother, Joyce, and Fernando on the show. The two guests have both appeared on the show before and have both experienced great successes in real estate investing. Joyce talks to the audience about some of the benefits of joining the Apartment Owners Association and and Fernando let's everybody know that there's a new product on the JasonHartman.com store called Financial Independence Day where he will do personal one-on-one consulting with you to help you achieve your dreams for financial freedom. 

 

Key Takeaways:

2:30 – Jason and Fernando are developing a software tool where property owners can use property managers in an a la carte fashion. 

8:00 – When it comes to income property, Joyce is an extreme do-it-yourselfer.

13:40 – An Apartment Owners Association membership costs $79 a year. 

20:20 – Joyce uses eviction attorneys that charge a flat rate to help her with problem tenants. 

28:00 – There are lot of benefits towards focusing on buying up a neighborhood. 

29:10 – Fernando talks about his new product that's currently on the JasonHartman.com website. 

 

32:10 – Today's supposed guest, John Michael Greet, will be on Wednesday's show. 

 

Mentioned In This Episode:

http://www.naahq.org/

 

JasonHartman.com.

Direct download: CW_487.mp3
Category:general -- posted at: 6:09pm EST