Creating Wealth Real Estate Investing with Jason Hartman

Jason Hartman is happy to bring one of his clients, Adam Jackson, on to the show to talk about his journey into real estate investing. Adam started buying properties toward the end of 2016, and has subsequently purchased 11 homes in the past year on his quest for financial freedom.

Adam shares what markets he's currently invested in, where he's looking to expand, keeping score with personal financial statements, and keeping a healthy balance.

Key Takeaways:

Jason Intro:

[2:07] Do your 5-year plan and submit it to www.JasonHartman.com/Contest

[6:40] 2018 is predicted to be an earthquake heavy year, so be careful with your property in earthquake zones

[10:02] Venezuela is the latest example of runaway inflation

[13:15] Invest in commodities and fight inflation with income properties

Client Case Study with Adam Jackson:

[15:33] Who is Adam Jackson?

[21:12] Where Adam bought his first property, and why

[23:23] Why Adam chose to buy a home with cash

[31:12] When you suffer through an expensive repair, remember that your loss is shared by the government on your tax return

[33:50] How to keep score via financial statements

[38:44] The P vs PC Balance

[41:50] Adam's attempt at the abundance mentality and trying to pass along whatever wisdom/money/time he can

[45:31] Focusing on a few things in-depth is better than a little bit of everything

Website:

Submit Your 5-Year Plan!

www.JasonHartman.com/Masters

Magic Power by Triumph


"The other asset, that people don't realize they have, is their credit"

Direct download: CW_917_Adam_Jackson.mp3
Category:general -- posted at: 2:07pm EST

Over the Thanksgiving weekend, Jason Hartman found himself looking through his old books in his mom's house. In the stacks he found two books that were key in his investing journey, The Art of the Deal by Donald Trump, and Mission Success by Og Mandino. Jason explains why these books impacted him so much and why they're still important today.

Then, Jason talks with Jeff Meyers, President at Meyers Research, about the state of the housing market across the USA, and how much runway the market might have. They also discuss whether millenials are finally ready to buy their first houses, and the incredible impact the self-driving car will have.

Key Takeaways:

Jason Intro:

[2:40] The book that turned around Jason's real estate career at the age of 24

[6:33] Jason would listen to Og Mandino's Mission Success cassette on repeat

[11:54] Walter Hoving's views on capitalism

[15:15] Capitalism is the best (and most natural) economic system ever

[17:47] A JasonHartman.com sale! $200 off VIP or Elite level Meet the Masters ticket

Jeff Meyers Interview:

[21:13] Are the millenials finally entering the home buying market?

[24:04] There's been a long economic recovery, but housing hasn't led the way so Jeff sees more runway

[28:43] When did the real recovery from the Great Recession begin, and how does it affect where we are in the housing cycle?

[31:24] Mortgage lending is getting tighter than ever, with the average FICO score on each loan being 720 (the banks are allowed to loan at 680)

[32:56] The self driving car could cause a resurgence of the suburbs, but it will DEFINITELY be a game changer for real estate (perhaps like how Amazon has changed the retail industry)

[36:09] The cottage industry that could spring up out of the emergence of the self driving car

Website:

www.MeyersResearch.com

www.JasonHartman.com/Masters (promo code "black" for the sale)

www.JasonHartman.com/Contest

The Art of the Deal

Mission Success by Og Mandino

Quotes:

Suburban markets we see some runway. they have not kept up, and that's where a lot of demand is starting to take off.

You have to remember that what caused this recession was a direct hit from the mortgage market

Direct download: CW_916_Jeff_Meyers.mp3
Category:general -- posted at: 2:13pm EST

Jason Hartman is proud to announce the latest addition to the 2018 Meet the Masters of Income Property event, Ken McElroy.

Ken is a Rich Dad advisor and entrepreneur who is an expert in investment analysis, property management, and property development. He's responsible for over $700 million investment dollars in real estate.

Ken is the author of the best-selling books The ABC’s of Real Estate Investing, The Advanced Guide to Real Estate Investing, The ABC’s of Property Management, and most recently his book on entrepreneurship: The Sleeping Giant.

Website:

www.KenMcElroy.com

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

Today's Flash Back Friday comes from Episode 569, originally published in September 2015.

Don’t miss a thing with Jason Hartman University property acquisition checklists. So you’ve decided to invest in real estate, what now? Using the checklists provided by Jason…

Website:

www.JasonHartman.com/Properties

www.JasonHartman.com/Contest

Direct download: CW_915_FBF_Checklist.mp3
Category:general -- posted at: 10:00am EST

It's Thanksgiving Day, and it's time to take stock of all the blessings in your life. Jason Hartman recorded this episode in the home of his new podcast editor, Adam Schroeder. The two of them discuss how Adam and his wife recently became real estate investors through Jason, as well as why it's important to acknowledge your blessings in life.

Key Takeaways:

[3:16] The Schroeder family purpose statement

[6:23] Client case study with Adam

[10:48] Why appraisals are getting harder to come in at the sales price of the home

[19:01] Dennis Prager's Gratitude

[25:31] Take time to make a list of what you're grateful for

[29:43] Feeling entitled can quickly become a burden

Website:

www.PragerU.com

Direct download: CW_914_Adam_Schroeder.mp3
Category:general -- posted at: 11:17am EST

Jason Hartman starts off the show talking with Elisabeth Embry about how she makes her 5-year plans, and why it's important. The 5-year plan contest is still going on, and you can win great prizes and set your future up for success by making one and sharing it with others.

Then, Jason continues his conversation with former Congressman Dr. Ron Paul. The two finish up their talk by looking at why the government thinks they're the best option for many aspects in our lives, what would happen if the government got out of the way and prices reverted to normal (rather than the distorted view we're getting today), and why we shouldn't expect to see inflation curbed in the near future (or ever, more likely).

Key Takeaways:

Jason Intro with Elisabeth Embry:

[2:33] The 5-year plan contest is still going on

[4:13] How Elisabeth, and her husband, take the time to put pen to paper and come up with their 5-year plan

[7:15] We tend to not put much emotion into our investing victories, which can make us only remember the negatives

[10:46] Planning your journey using the Amazon Press Release method

[14:37] Take stock of your resources, you probably have more than you realize

[16:01] Creating your 5-year plan will help it come true, we're able to achieve more than we realize when we say it out loud

Ron Paul Interview, Part 2:

[18:50] What business is it of the government to involve themselves in so many aspects of our lives?

[21:11] Many governmental programs have distorted markets like student loans and housing markets

[25:28] Distorted prices and manipulating the currency and tax codes makes people worry about gaining the best tax advantage rather than getting the highest return or providing the most value

[28:42] Inflation, from the government and central bank point of view, seems to be a great business plan

Websites:

www.JasonHartman.com/Contest

www.JasonHartman.com/Masters

www.RonPaulLibertyReport.com

Direct download: CW_913_Ron_Paul_2.mp3
Category:general -- posted at: 7:42pm EST

Jason Hartman kicks off today's episode with a look at Daren Blomquist's latest Housing Report and breaks it down piece by piece. He examines the data about a long-time low in housing starts, a construction worker shortage, and an investors lament.

Then, Jason introduces his guest, and Meet the Masters headline speaker, former Senator Dr. Ron Paul. The two examine what liberty really means, what governments role actually is, the damage our educational system is doing to our society, and what should be done with the federal income tax. Part 2 of Dr. Ron Paul's interview will be aired on Wednesday.

Key Takeaways:

Jason Monologue:

[3:50] Daren Blomquist, with ATTOM Data, has released his lastest Housing Report that examines the topic of bubble markets

[8:16] The construction void: lowest home starts since 1964

[13:16] The idea of a bubble warning

[17:04] When Jason didn't buy mobile home parks, an investors lament

[20:18] A huge labor shortage in the construction industry

[22:05] Don't forget to make your 5 year plan

Ron Paul Interview:

[24:01] What is the meaning of liberty, according to Ron Paul?

[28:50] How do you draw the line about what the government should be involved in?

[32:20] Ron Paul's liberty amendment to end income tax

[35:58] Progressive education has harmed our nation

Websites:

www.JasonHartman.com/Contest

www.JasonHartman.com/Masters

www.RonPaulLibertyReport.com

Direct download: CW_912_Ron_Paul.mp3
Category:general -- posted at: 3:30pm EST

Today's Flash Back Friday comes from Episode 563, from September 2015.

If you are using your buy and hold properties as short term rentals, through a company like AirBnB,  you may be required to pay an additional 15.3% self employment tax. Although it may seem like a gray area to you, the IRS considers it an active business and will take note of which schedule you are filing. Short term rentals require more of your labor and your time which rarely gets accounted for when calculating costs. Considering all the aspects of short term rentals versus long term buy and hold properties will shield you from future surprises.

Key Takeaways

Jason’s Editorial:

[2:04] The huge flaw in Airbnb

[3:10] The passing of Dr. Wayne Dyer

[4:14] The female perspective

[5:40] Positive Feedback from the 1st Jason Hartman University

[7:39] Save the Date for the next Meet the Masters in early January 2016

[9:30] The Venture Alliance Rhode Island trip details

Brandon Hall Guest Interview:

[15:02] Airbnb investors also have a 15.3% tax on active income

[16:13] Monetizing the value of your time

[16:44] Automated business systems allow me manage my real estate in only 30 min per month

[19:01] It’s more time and labor intensive than a buy and hold property

[21:50] A complicated scenario in setting up short term rentals

[24:49] Short term rentals may earn more but the time is not factored in

[25:45] Schedule E or Schedule C?

[27:47] The IRS may be bringing on the audits

[29:33] A 5 year depreciation schedule

[31:05] The diminimous safe harbor

[33:23] 500 material participation is solely for rental properties

[36:06] An example of a three unit qualifier for material participation

[37:53] Long distance self management is possible and maybe easier

[39:35] Segmented depreciation, cost segregation using a sears catalog

[42:41] Feasibility studies are expensive

[44:43] Everybody needs a home office

Mentions:

YourErroneousZones

JasonHartman

reviews@jasonhartman.com

EO

HallCPALLC

Direct download: CW_911_FBF_Brandon_Hall.mp3
Category:general -- posted at: 9:00am EST

Jason Hartman starts off this 10th episode with a look into the "tulip bubble" in cryptocurrencies that he's afraid is going to explode. It's taking more and more energy to "mine" Bitcoin these days, and this fake work is causing real damage to our environment. Jason explains what he thinks will eventually replace cryptocurrencies like Bitcoin, and also announces the newest addition to the Meet the Masters event in January.

In his 10th episode interview, Jason talks with Mark Sanborn, author of the new book The Potential Principle: A Proven System for Closing the Gap Between How Good You Are and How Good You Could Be, about how to traverse The Potential Matrix and create a better self. No matter how your life has been going, there's always room for improvement. 

Mark offers some tips on activities you can do to better yourself, as well as some talk about The Fred Factor, and why it became (and remains) such a success.

Key Takeaways:

[2:49] A tulip bubble in cryptocurrencies?

[6:21] Our brain takes a lot of energy to power, so it doesn't want to think because it's easier to be lazy

[10:26] You have fake currency, creating fake work, doing real environmental damage

[12:17] A new speaker for Meet the Masters, Ken McElroy, is announced, and admission levels are explained

Mark Sanborn Interview:

[18:03] What is The Potential Principle?

[20:59] The Potential Matrix can tell us the 4 areas we can get better

[23:12] The first step fo the Potential Matrix is to disrupt yourself before someone or something else does

[26:40] Engage others: think who before you think how

[29:02] Some tips on how to properly select a book to read

[32:04] The importance of The 5 Friends

[34:09] Why was The Fred Factor a success?

[37:38] There are Fred's all over the place, we just sometimes don't notice them, and what we can learn from them

Website:

www.JasonHartman.com/Masters

www.JasonHartman.com/Contest

www.VentureAllianceMastermind.com

www.MarkSanborn.com

www.PotentialPrinciple.com

 

"If you don't disrupt yourself, somebody or something else will"

"Nobody can prevent you from choosing to be extraordinary"

"Everybody makes a difference, and the only question is what kind"

Direct download: CW_910_Mark_Sanborn.mp3
Category:general -- posted at: 2:51pm EST

Jason Hartman and Elisabeth Embry start off the show by reminding you that it's time to make your 5 year plan. Not only will it help you create and guide your future, but it could win you some nice prizes from Jason. The two discuss how a 5 year plan helped Elisabeth and her husband become financially free, and how they do their yearly check-in.

Then, Jason talks to another potential victim of PIP West and their tax lien business. Jason talks with Bill Truss, who invested nearly $100,000 in tax liens several years ago, has only received $28,000 back, and is unable to get any movement on closing out the liens he holds on properties in Illinois. The two discuss what was promised, what was delivered, and what it would take to make things right.

Key Takeaways:

Jason & Elisabeth Intro:

[4:13] How Elisabeth Embry's 5 year plan led her to Jason and Meet the Masters

[7:02] How it feels to be financially free

"The fear of the unknown is the worst part of starting something new"

[10:28] We can author our future

[14:47] What to do BEFORE you do your 5 year plan

[17:00] How Elisabeth and her husband go over their past year and their next 5 years every year

"We can literally create the future through the power of our own will"

Bill Truss Interview:

[23:39] How Bill met PIP West

[26:43] What happened to Bill after he invested $99,664.71 with PIP West

[29:15] What a tax lien is and how it works

[32:04] The additional invoices Bill's received for "administrative fees"

[35:33] What Bill is asking for from PIP West

Website:

www.JasonHartman.com/Contest

Direct download: CW_909_PIP_West.mp3
Category:general -- posted at: 4:37pm EST