Fri, 14 February 2020
Today's Flash Back Friday comes from Episode 393, originally published in July 2014.
Jason Hartman and Doug explore the multiple ways in which you can invest in real estate, and the pluses and minuses to each.
Thu, 13 February 2020
Our mind is the most powerful force known to mankind. Today, Jason Hartman shares some secrets to brain hacking and understanding the flaw of our subconscious mind. After understanding this flaw, we can use it as an advantage for progress.
In the second segment of today’s episode, we flashback to a narrative about the human brain, and it’s role as a generator. Your brain is not just a processor.
Today’s final segment is taken from Commandment #3, Stay In Control.
[1:40] Our mind, the most powerful force known to mankind
[4:20] Brain Hacking, the flaw of the subconscious mind
[13:45] Creative Visualization: Our mind is so powerful that we can create our future by visualizing it
[18:00] Holographic Brain Theory
[28:06] Commandment #3: Stay In Control (Maintain Direct Control Of Your Investment
Wed, 12 February 2020
Jason Hartman is joined today with guest, Evan Moffic, in a client case study and phenomenal deal on a short term rental property. With understanding how inflation plus tax deduction works, when compared to your interest rate, you will be getting paid to borrow money.
Evan shares his thoughts on the natural dilemma that humans aren’t designed to think long term but we should, and with a well built real estate investment portfolio in play. Lastly, Bernie Sanders; What are you doing, What are you suggesting?
[1:38] A phenomenal deal on a short term rental property bought through the Jason Hartman network
[7:10] The Feds target inflation rate is 2%
[13:50] Getting paid to borrow: interest rate compared to inflation + tax deduction
[17:00] We aren’t designed to think long term
[18:50] Bernie Sanders, keep calling out the banks, but Capitalism isn’t all bad
Tue, 11 February 2020
The Coronavirus might affect the US housing market in a way that you did not expect. Joining Jason Hartman today is investment counselor, Adam Schroeder. The two discuss the great returns on properties that come across as boring, but make sense the day you buy them.
Refi til ya die! - More details on how and why this is the way to go. And the story behind PropertyCast, the Hartman Method and Schroeder Application to getting the real estate ProForma in simplest fashion.
[1:15] The housing market vs the coronavirus, and its effect on foreign investors
[7:50] Boring properties but great returns
[9:00] Do not go by the greater fool theory applied to real estate, it is a very dangerous strategy
[11:30] Properties that make sense the day you buy them
[14:25] Refi til ya die
[21:00] Don’t wait to buy real estate, Buy real estate and then wait!
[22:00] The birth of PropertyCast
Mon, 10 February 2020
Are there any correlations with Real Estate and Great Dating Cities? Investors are more eligible mates. Today, we share a live conference clip with a discussion about timing the market and answering the valuable question, “Where not When!”
In the final segment of today’s episode, Jason answers a listener’s question about timing the market.
[1:30] Crazy life: Bullseye with an ax, a business cruise, Aspen to Tampa
[4:00] Valentines Day and Real Estate: Investors and homeowners are more eligible mates!
[6:45] Top ten Best & Worst cities for dating in the USA
[13:10] It’s better to know which market to be in than to wait
[14:15] People rarely calculate the returns the period they are waiting
[15:00] Timing the market = regrets waiting
[23:05] A listener’s question about Timing the Market
[28:30] Don’t be so partisan all the time, give people credit where it’s due. Look at our economy now
Fri, 7 February 2020
Today's Flash Back Friday comes from Episode 1007, originally published in June 2018.
From the studios of the Financial Survival Network, Jason Hartman and Kerry Lutz get together for this episode to discuss the softening of Dodd-Frank, changes in protections for renters in some markets of the US that are making it harder for landlords, potential uses for Blockchain that could significantly impact the way people invest, and some key economic lessons you have to teach your children.
[5:49] Jason went and got stretched today, and it was quite the experience
[7:07] The FBI says you need to reboot your router ASAP
[8:45] The counter intuitive concept that is slowing home sales in the US
[11:58] If you can trade tokens instead of stocks the transaction fees can be sliced immensely
[15:23] The biggest commitment in precious metals to blockchain
[21:31] Jason & Kerry's thoughts on the changes to Dodd-Frank
[25:58] The #1 thing you need to teach your kids about economics: money always goes where it's treated best
[29:24] The Meet the Masters audio product is now available at HartmanEducation.com
Thu, 6 February 2020
1385: A Nation Of Renters! Negative Interest Rates? Self-management, & Equities vs Real Estate Investing
Greetings from Sarasota, Florida! Jason Hartman shares the good news, “America is Increasingly, A Nation of Renters!” What socioeconomic changes have prompted this shift in the last decade, and how does it benefit the real estate investor?
In the second part of today’s show, we share a clip from a live conference. Jason asks, “What got you into real estate?” Doug and Evan both share a bit about Equities vs. Real Estate Investing and Self-management.
[1:35] Good news from CBS News, “America Is Increasingly, A Nation of Renters”
[3:16] The renter class has changed, is it now acceptable to rent?
[14:55] Inflation induced debt destruction, IIDD, looks at the way you get paid to borrow money over time
[17:35] A Live conference chat with Evan and Doug: Self-management, & Equities (stocks) vs Real Estate Investing
[18:00] “You can never make enough money with your own two hands”
[19:45] The tech revolution has made real estate more valuable
Wed, 5 February 2020
In today’s episode, Jason questions California’s proposal to use its eminent domain power to take over properties for rent control. What does this do to/for the landlord? The effects of the coronavirus on the human race and the economy aren’t something to ignore.
Investment Counselor, Adam, returns to the show with our February 2020 Mortgage Rate Update.
[1:05] The “Socialist Republic of California” took some huge steps toward economic suicide. Is California Rent Control a mistake?
[7:33] Money goes where it’s treated best
[11:20] Three forms of power: violence, capital, and information
[13:45] What is to come of the potential pandemic of the coronavirus?
[16:20] Investment Counselor, Adam, with our February 2020 Mortgage Rate Update
[25:00] Reach the Jason Hartman Investment Counseling Team, 1.800.Hartman
Tue, 4 February 2020
Congratulations to our Super Bowl 54 Champions, The Kansas City Chiefs, and the supporters of Brexit! Are you a HENRY? Big problems and big success run in the same circle.
Today, Jason Hartman speaks on Commandment No. 3 of the 21 Commandments of Successful Investing, “Thou shalt maintain control.” As well, he shares some interesting business concepts developing with Cloud Kitchens. And, Is there any legitimacy to the Super Bowl Indicator?
[2:44] Welcome to HENRY: High Earner, Not Rich Yet!
[9:26] If you have bigger problems, it’s probably because you have more success
[10:42] “It’s not what we get by reaching our goals that matters, it’s who we become just by trying” -Zig Ziglar
[12:12] Commandment No. 3 of 21 Commandments of Successful Investing: Thou shalt maintain control
[24:35] When you own the real estate, you own something real
[25:00] Have you heard of Ghost Kitchens?
[28:00] The Super bowl Indicator: Does Kansas City’s win actually give us a good indicator of what will happen this year with the S&P 500?
Mon, 3 February 2020
Super-Monday, the youngest Creating Wealth listener and a letter about money from the late great Kobe Bryant. Today, investment counselor, Naresh returns with questions for Jason about a few investment properties in “The Vegas of the South,” and Citrus Springs Florida. Jason elaborates on the recurring real estate investment theme of “Refi ‘till you Die.” And finally, the importance of understanding ROA (Return On Amortization).
[4:28] A Fourplex, new home construction deal!
[7:05] Tunica Resorts property, the Vegas of the South
[8:32] 32% return on invest IS a conservative number in a multidimensional asset class
[8:50] How To Analyze an Asset Class, Free Video - JasonHartman.com
[9:45] Advice on money, from a letter that Kobe Bryant wrote
[15:30] “Refi ‘till you Die” plan
[16:20] ROA return on amortization
[26:50] Citrus Springs, Florida
Fri, 31 January 2020
1381 FBF: Commandment #3, Real Estate Ponzi Scheme, Housing Market Slow Down, Opportunity Costs & Risky Loans
Today's Flash Back Friday comes from Episode 1048, originally published in August 2018.
Jason Hartman discusses some of the main stories in the news today. The first story is one of the reasons Jason created Commandment #3 (Thou Shalt Maintain Control), the next is a potential sign of a market slowdown from none other than the scandal plagued Wells Fargo, then the potential return of risky loans. Finally we wrap it up with a story on how California might make it even more expensive to live there.
[2:09] Forgetting Commandment #3 can often be an expensive lesson and the biggest Ponzi scheme in the world
[6:52] Always think of opportunity cost when you have money sitting around
[12:20] A potential sign of a market slowdown from Wells Fargo
[16:49] The housing market is slowing from the top down and hasn't hit the type of homes that Jason's network sells
[20:44] Are banks starting to push risky loans?
[26:07] California is considering changes to Prop 13 and home requirements, which Jason believes would be devastating for real estate holders
Thu, 30 January 2020
Rabbi Evan Moffic, author of The Happiness Prayer, joins us from the Profits of Paradise conference where he speaks on happiness and what leads to a meaningful life. His rich insight on religion, capitalism and happiness give us a new way of approaching personal gain and how we can share that with others. And he invites us to ask ourselves, does more money lead to more happiness?
[3:00] If money doesn’t buy happiness, does poverty buy happiness?
[4:05] Are Super Bowl tickets affected by inflation?
[8:00] Fannie Mae issues a warning about fake companies
[17:50] Does money make us happier?
[21:00] From 1-10, how satisfied are you with your life, and does your income affect that?
[22:56] Happiness is a kind of currency
[26:25] PERMA: Positive emotions. Engagement. Relationships. Meaning and purpose. Accomplishment.
[29:30] Love of money is the root of all evil, not money itself.
Wed, 29 January 2020
Every deal seems too expensive at the outset. Jason Hartman speaks on the Cap rate or less affectionately called, “The Crap Rate” as a faulty metric. And another proof of commandment number 3 of 21 Commandments of Successful Investing, what did Robert Morgan do?
Jason Hartman talks with Jonathan Slain, a high growth leadership coach, founder of www.Recession.com, and author of Rock the Recession, about how to prepare your business to ensure that you not only survive, but thrive through recessions. Having a war chest BEFORE it starts is absolutely crucial to your continued success, so make sure you have a plan and rock your way through any recession.
[5:37] Every deal becomes a good deal looking in the rear view mirror
[11:35] How do you grow during a recession?
[15:20] You can increase your business significantly by spending into a recession
[21:00] Make sure you have a recession plan BEFORE the next recession
[23:20] Why Jonathan thinks a pullback will happen in 2020
[27:27] Examine your business to find what you can do that will make your competition irrelevant
[31:00] The big opportunities lie on the fringes of creativity
Tue, 28 January 2020
1378: Due Diligence, The Necessary Steps: Insurance, Home Inspections, Rent Verification & Property Management
Thou shalt diversify. The continuation of our discussion on due diligence. Jason and Adam present tips on investigating the areas in which you own property. Use tools like Google street view to take a tour of the surrounding areas to understand the influences for value and rent.
Adam shares a real life scenario on a property in Merrillville, Indiana. Find out what questions you should ask before investing in a property.
[3:00] Thou shalt diversify. Diversity into three to five markets.
[5:55] Use google street view to understand the areas that surround your investment.
[8:30] Check with local property management companies to confirm rent estimates.
[11:15] Put the system to work with a real life evaluation of a current property.
[14:10] The institutional apartments do a really good job of squeezing the rent out. We should be demanding more for our properties.
Mon, 27 January 2020
Do the Due! Do your due diligence. Jason Hartman speaks with investment counselor Adam Schroeder about key aspects of income property investing including; checking home prices and contacting the Tax Assessor. The two give insight on working with lenders and the importance of home inspection and re-inspection.
[4:00] Where to find pricing: MLS, Zillow and Tax Assessor
[9:10] Pictures can be insanely misleading. Sometimes, it’s not even the same house.
[14:25] A quick call to the country tax assessor can give you a ballpark estimate on taxes for an investment property.
[19:35] Lender deals can change due to dynamics of reevaluations.
[24:00] The licensing laws vary from state to state, check the requirements for you state
Fri, 24 January 2020
Today's Flash Back Friday comes from Episode 1022, originally published in July 2018.
Jason Hartman takes a turn to the listener mailbag while talking with Kerry Lutz, founder of the Financial Survival Network. Today's topics run the gamut from when to rent your personal residence, how RV ratios work around the world, how to work with Jason, and how to get OUT of the real estate game as you get older.
[2:41] Why Jason has long believed the idea of public unions is ridiculous
[6:27] The stigma between renters and home owners seems to be disappearing, if not already completely gone
[9:54] Mason's question on renting his primary residence
[18:42] RV Ratios apply world wide
[19:23] How is depreciation unwound?
[24:58] Is it wise to put 100% down on a property if you have the cash?
Thu, 23 January 2020
Successful people aren’t martians! Success is possible for everyone. Jason Hartman speaks on taking advantage of a lucky situation by preparing for the opportunities that will inevitably drop into our lives.
Then, Jason and George Gammon return for the conclusion of our three part story: the building blocks of the Jason Hartman Risk Evaluator. Jason also shares a modern day story taking place in Seattle, proving once again the risk of investing in a cyclical market.
[3:45] The vast majority of us came from very humble beginnings
[8:06] “Luck is what happens when preparation meets opportunity” - Seneca
[10:24] The content is what happens, the context is the environment (our head) it happens in
[17:45] The risk when investing is in high land values
[18:26] Three types of markets: linear, cyclical and hybrid. What market is a preferred market for investing?
[23:00] Low land value equals low risk, high land value equals high risk
[28:10] Human biases: recency bias, sunk-cost bias, and certainty bias can all distract an investor
Wed, 22 January 2020
In Part 2 of this 3 part series, Jason Hartman breaks down the ingredients of a house, otherwise known as “the improvement.” Jennifer, the insurance agent, is a key to understanding the land versus improvement value, and George Gammon shares an exhausting experience with lot subdivision and development. Eric, the appraiser comes out with good news prompting the question, “how would you allocate the new value between the two primary components, land and improvement?”
[8:13] CPA (Cost Per Action) and is it applicable in a Real Estate Investment
[13:37] The ingredients of a house starting with raw materials
[16:46] “When I’m looking at an income property... I look at it as though I’m buying a stream of cash flow.”
[13:38] The ingredients of a house, labor costs
[24:06] The ingredients of a house, regulations
[27:20] The ingredients of a house, cost of energy
[29:05] “How do I know the land value vs the improvement value?”
Tue, 21 January 2020
George Gammon interviews Jason Hartman about The Jason Harman Risk Evaluator. In Part I of this three part series, Jason describes his ‘aha moment’ after 19 years of experience in Real Estate. The story begins with a call from Jennifer, an insurance agent in Irvine, California that leads to the necessity and application for understanding the LTI (Land to Improvement ratio).
Mon, 20 January 2020
Jason Hartman speaks with returning guest and author of the book, “Heads I Win Tails You Lose,” Patrick Donohoe. The conversation touches on topics of an ever changing world culture that continues to reshape how we approach wealth, the freedom to do, and in what we find meaning. Despite some of the chaos and cultural decay, the 2020’s are going to bring some excitement to the world.
[20:40] It’s not freedom from having to do something, it’s freedom to do something.
[22:07] The order of magnitude: an interesting time in history where we are going to see massive change.
[24:00] The rising 3 billion, that aren’t online yet: If you think that society has benefited from sharing knowledge, you’re right.
[26:38] There will always be winners and losers
[28:40] The Ritz Carlton Slogan discussion: “Systemize the predictable so you can humanize the exceptional.”
[32:27] People are still trying to find meaning in other things.
[33:16] A little bit of struggle is good for the human spirit
Fri, 17 January 2020
Today's Flash Back Friday comes from Episode 1035, originally published in August 2018.
Jason Hartman starts off today's episode with a tale of his current lawsuit and the experience it's given him with the legal system. The way our current system is set up nobody wins, and there doesn't seem to be a lot of accountability going on either.
Jason also plays some Voxer messages from client Drew Baker about his recent experiences doing self management. After that Jason finishes up his interview with podcast producer Adam Schroeder. This time the two discuss finding repair people, what to expect from property management software, whether to allow grace periods and what kind of late fees to charge.
[1:57] Nobody wins in our current legal system
[6:04] Get the latest properties available from Jason through the PropertyCast
[7:38] Drew's experience self managing
Adam Schroeder Interview:
[13:32] You should have a clause in the lease stating which repairs the tenant is responsible for
[17:58] What to expect from property management software
[22:01] The importance of an increasing late fee
Thu, 16 January 2020
Did you know that there are more than 200 markets across the United States where the "typical" home costs more than one million dollars? Jason Hartman explores what is going on with home prices and where some surprising locations are that have incredibly high real estate prices.
Then Jason talks with Pat Hiban, author of Tribe of Millionaires: What is One Choice Could Change Everything? and co-founder of GoBundance, about the multiple effects that are in our lives and how we can situate ourselves in a way that we can live our best life.
[2:07] There are over 200 cities where the "typical" house is over $1 million
[7:04] Some surprising cities that made the million dollar list
Pat Hiban Interview:
[13:34] Be careful in good times like these that you're not dealing with people who are just skimming the cream off the top and won't be here for you when things turn
[25:36] The "one sheet" idea Pat uses in his masterminds
[29:02] The Connection Effect
Wed, 15 January 2020
Jason Hartman and investment counselor Carrie go over how the network functions. The two explain the process of finding properties, getting financing, evaluating the provider, and choosing property management. This can seem to be a daunting task, but that's why the network exists: to provide the complete solution for real estate investors.
[5:08] The middle market between Fannie Mae/Freddie Mac loans and hard money has been a boon for investors
[10:52] Keep your investment counselor in the loop with your purchases, having a Jason Hartman email address in the thread helps things move faster
[14:34] Form relationships with market specialists so that you can know what you're getting into with future properties
Tue, 14 January 2020
Jason Hartman and Rabbi Evan Moffic take a look at America's one affordable trophy city: Chicago (which just so happens to be where Evan lives). The two explore the things going on in the area that are helping drive business and helping investors in the area make some good money.
Then Jason and Evan explore the Memphis market and what the two like about the future of the city.
[8:28] YouTube offers the ability to learn anything
[12:15] Chicago is the only cheap, iconic city in America
[16:04] Democrat leaders in Chicago have still been pro-business
[19:02] 2 big things that are happening in Chicago right now that are good for investors
[22:09] Evan's thoughts on the Memphis market
Mon, 13 January 2020
Jason Hartman and Investment Counselor Sara take a look at what they like about the Orlando market, in terms of the city itself and the team that's providing properties there. They also explore some of the ways that pro formas can be manipulated and why new construction is able to outperform projections.
[2:43] Why Sara likes the Orlando market and team
[7:05] Things are going to get worse for both homeowners and renters unless we can get the cost of materials and construction under control
[10:46] Why rent guarantees are overrated
[12:50] Other areas where new construction is available
Fri, 10 January 2020
1366 FBF: Client Case Study: Preparing for Self Management with Adam Schroeder, Part 1 & Why You Should Like a Good Recession
Returning guest Adam Schroeder joins Jason Hartman for this episode, as the two discuss the steps for transitioning from professional management of rental properties to self management. Adam and his wife have 3 (going on 4) properties and are thinking that the time is soon coming to venture out on their own. But before doing that there are some important things to do like what information to get from your property manager, what kind of initial contact to have with the current tenant, finding forms and contracts when you're finding/reupping tenants, pet rent, and more.
[3:36] Why Jason loves a good recession
[8:29] Jason's been involved in around 10,000 real estate transactions
[13:08] Sometimes removing a property manager actually makes things easier
[16:27] The information you need to get from your current property manager if you're going to make a switch
[21:26] A way to change your relationship with your property manager rather than completely ending it
[24:09] Bad property manager reviews on sites like Yelp might be a good thing, that's why you have to read them
[29:23] Insurance: individual policies or a commercial policy?
Thu, 9 January 2020
Jason Hartman and economist Thomas look back on the 2010s to see what the biggest stories were for investors. From the War on Terror to Obamacare to the aftermath of the Great Recession, it was a decade fraught with ups and downs that provided opportunities for investors to make good money.
[5:13] The 10th biggest story of the decade: the War on Terror explodes the deficit
[8:20] Why European debt issues will come to the fore in 2022
[12:37] The idea of Purchasing Power Parity and what it says about China's economy vs the US
[16:42] As much as Jason doesn't like Obamacare, it makes the list of Top Stories of the 2010s
[26:53] What Jason learned years ago during his day as a lobbyist
[29:10] Thomas is seeing at least a 15% drop in the market coming when the Fed decides to let risk enter the market again
Wed, 8 January 2020
Jason Hartman and Lisa take a look at the phenomenon that's sweeping homebuilders across the country: build to rent. It's something that's not been done before and that Jason takes as a very positive sign for renter growth moving forward. Jason and Lisa then discuss whether the differences between new builds and renovated properties before moving into some market profiles in Florida and Oklahoma City, where we are happy to be venturing back into.
[2:34] What the build-to-rent phenomenon means the builders are thinking
[6:06] Even Toll Brothers is getting into the Build-to-Rent phenomenon
[12:05] Jason's thoughts on appreciation of new home builds vs renovated properties
[17:27] A clip on the growth going on in Florida. The new Texas?
Tue, 7 January 2020
Jason Hartman and Investment Counselor Adam take a moment today to discuss the hot topic of Modern Monetary Theory (MMT). Adam, being a big proponent of MMT, plays a clip from a recent episode of The MMT Podcast and discusses what MMT is, how we can use it in our observation of the economy, and what it can mean for our investing. After they finish up their MMT talk, the two profile a property that's available in the Atlanta, GA market.
[3:49] How money becomes money
[8:03] Why Adam and Jason think cryptocurrencies not backed by the government will never thrive
[14:25] What we actually need to worry about when we have a tax cut or increase in government spending
[17:37] Shrinking deficits lead to pullbacks and federal surpluses lead to recessions
[25:40] Property profile in Atlanta
Mon, 6 January 2020
Jason Hartman and economist Thomas look back at some of the happenings of 2019 and then try to envision what's going to be happening in 2020. The primary thing being discussed today is the yield curve. There is constant talk about how a negative yield curve signals recessions, but how long does it have to be negative? Were we inverted too long in 2019? How long before we see the results of the negativity? Jason and Thomas try to answer all these and more.
[4:13] What does the yield curve exploding mean?
[7:17] Why an economist is saying that real estate is less risky than stocks in 2020
[12:36] Hybrid markets had a good 2019 and look like they'll have a good 2020 as well
[13:38] A CNBC clip about the yield curve
[18:14] The Fed has the dual mandate of moderate to low inflation with maximum employment, but they seem to consider financial stability as a 3rd mandate
Fri, 3 January 2020
Today's Flash Back Friday comes from Episode 1001, originally published in May 2018.
Creating Wealth's 1001st episode is a time to take a look back at the people who have made this show possible: the listeners and clients. Jason has been blessed to have such great clients who come on the podcast to tell other listeners about their real estate journey. Today we've curated some mini client case studies as we look back at what actual real estate investors have to say about their experience working with Jason.
Thu, 2 January 2020
1360: Population Growth & Building A Vibrant Community & Hardwiring Excellence, Purpose, Worthwhile Work, Making a Difference by Quint Studer
Jason Hartman explores what's happening in America today when it comes to population growth (or the lack thereof). When you look at the demographics of babies being born today and what the housing market is going to need in 30 years, it's not a great thing for society. But that's why investment real estate can protect us.
Then Jason talks with Quint Studer, author of Building A Vibrant Community: How Citizen-Powered Change Is Reshaping America and founder of Studer Community Institute, about how he was able to change Pensacola, FL and how other areas could be renovated using the exact same strategies that he employed.
[2:43] 3 basic things that comprise population trends
[7:56] Construction in the 2010s was virtually non-existent
Quint Studer Interview:
[14:23] The components of Pensacola's turnaround
[17:58] In the midst of the Retail Apocalypse, what is actually working in retail?
[21:40] Civic Conversations, bringing in experts to discuss their specialties, opened up opportunities they didn't realize would happen
[24:28] There needs to be heavy investment into skill development
Wed, 1 January 2020
Jason Hartman and Investment Counselor Adam take the first day of the year to challenge every listener to sit down and make an investment plan for the year. Yes, New Year's Resolutions are cliche, but making a plan is better than not, and it's important to push yourself. You want to make it hard to reach, but not impossible. You need to take inventory of the things in your life you have, the things you can monetize, the things you can cut back on, and the things you can't or won't cut back on. After doing this you'll have a realistic look at what you can do to invest in your future.
[8:47] You want your New Year's goals to be just out of reach but not out of sight
[13:39] A Jacksonville, AR property profile
Tue, 31 December 2019
Jason Hartman and Rabbi Evan Moffic take today to review "the best decade in human history". As 2019 ends and we look forward to 2020, Jason and Evan discuss how the real estate market has transformed since 2010. They also examine the mindset of investors that invested through the Great Recession. Lawrence Yun's expectations for 2020 are also dissected.
[3:16] We are wrapping up the best decade in human history
[6:48] What qualities did the people who invested in real estate through the Great Recession have?
[11:56] Lawrence Yun's 2019 real estate year in review
[15:50] Climate change has caused the Northwest Passage to open up, which is huge for shipping
[18:51] Yun's prediction for the housing market in 2020
[24:26] Will the flow of people to cheaper cost of living states continue in the 20s?
[29:34] The "Collapse of Brands"
Mon, 30 December 2019
1357: Lumber Price Impact on Construction & Seven Figure Decisions, Having the Balls to Succeed, NV Real Estate Academy with Nick Vertucci
Jason Hartman and Investment Counselor Adam start today's show discussing what could happen to the cost of lumber and the cost of home construction based on the potential passage of the US-Mexico-Canada trade deal. With the deal already through the House and awaiting the Senate approval, it could have significant ramifications.
Then Jason talks with Nick Vertucci, author of Seven Figure Decisions and founder of NV Real Estate Academy, about Nick's journey through the real estate world after his tenure in the tech industry. Nick spills the details of his change and why he switched from selling and flipping to educating. The two discuss the downsides of real estate, but also the incredible rewards that can come if you stick with it, make decisions and keep moving forward.
[3:48] The US-Mexico-Canado trade agreement could have a big impact on real estate investors
[8:46] The price of lumber stabilizing would be fantastic for investors who are trying to figure out the cost of construction moving forward
Nick Vertucci Interview:
[14:10] Nick's journey from selling and flipping real estate to the education side
[20:38] Nick's first realization that he was making 7 figure decisions, and what true leaders all have in common
[23:40] Real estate isn't perfect, and it isn't easy, but it can bless you significantly
[27:22] Whether it's full or part time, have the entreprenuerial spirit and go create wealth
[29:15] Decision making is one of the most importan things a successful person has to have
Fri, 27 December 2019
1356 FBF: Future of Interest Rates & What Taylor Swift, Uber, and Robots Tell Us About Money with John Tamny, Part 2
Jason Hartman starts off today's episode with a little talk on where interest rates may be headed (according to one economist) and how that would impact current real estate investors. Hint: it's a pretty good thing. He also has to throw in a qualifier to his "Amazing time to be alive" mantra, because there are a few things that aren't amazing right now.
Then Jason finishes up his interview with John Tamny, director for the Center for Economic Freedom, Editor of Real Clear Markets, and author of Who Needs the Fed?: What Taylor Swift, Uber, and Robots Tell Us About Money, as the two discuss the impact of automation on all aspects of our life. John is excited about what all of this change will mean for the common worker and believes it will lead to higher quality of life for all.
[4:12] A qualification to the beloved Jason mantra of "It's an amazing time to be alive"
[7:18] Let Jason control the music and he cares not who controls the laws and the money
[12:13] What Martin Armstrong thinks interests rates will be jumping to
[15:28] Investors already in the game are praying for higher interest rates
John Tamny, Part 2
[20:18] Automation is going to lead into a surge in new kinds of jobs
[25:00] The demand for entertainment and service is going to explode
[26:49] Tamny's Law: as prosperity grows more and more people escape laziness because they find work they love
[28:29] John's thoughts on Universal Basic Income
Thu, 26 December 2019
On the day after Christmas, Jason Hartman takes a look at the amazing economy the North Pole is able to have. With massive exports and limited imports, it's truly impressive what they've been able to do. The main thing the North Pole has that no other country has is big data. What they have puts the companies like Facebook to shame.
Then Jason wraps it up by talking about the explosive growth in population that Florida has been experiencing.
Wed, 25 December 2019
Merry Christmas from Jason Hartman!
Jason shares one of his favorite poems that he discovered when he was only 17 years old. He learned it from Denis Waitley, but he wasn't the original author. Jason reads the poem and expresses his feelings about one of his favorite parts.
Tue, 24 December 2019
Jason Hartman and his mom take this Christmas Eve to evaluate how the United States was able to go an entire decade without going into a recession. This is something that has never been done before, so why did it happen now? The two listen to a CNBC story and break down each of the points: sometimes agreeing, sometimes pointing out flaws in logic.
Then to cap off the episode, Jason's mom discusses her recent 3 day property tour of the Space Coast and how it reminds her a little bit of California.
[3:14] CNBC clip about the US avoiding a recession for all of the 2010s
[7:00] GDP in the Great Recession dropped over 4% and some believe the unemployment rate (the unofficial one at least) was as high as the Great Depression
[11:57] There was relative price stability in the previous decades, but there was also wage stagnation
[21:47] Jason's mom's best advice for how to figure out what's going on in the economy
[24:09] Will Universal Basic Income become necessary when technology really kicks in?
[27:57] There may not be much of a bust coming because there hasn't been a huge boom
[28:23] Jason's mom's takeaways from her 3 day property tour of the Space Coast
Mon, 23 December 2019
Jason Hartman talks with NJ Ayuk, Executive Chairman of African Energy Chamber, CEO of Centurion Law Group, and author of the new book Billions At Play: The Future Of African Energy And Doing Deals, about the development that's happening inside Africa. Many outside of Africa view the continent with skepticism, but there's a big shift happening, especially in the banking sector (or lack thereof). Jason and NJ discuss some ways that Africa in general is beating first world countries, as well as how a shift toward property rights could go a long, long way toward more prosperity.
[3:54] Jason believes Nixon went to China to open up a cheap labor market
[6:06] Is Africa the next low cost labor market?
NJ Ayuk Interview:
[10:47] Africa may not have first world countries, but it has some infrastructure that's better than countries like the US
[14:04] Africa, unlike the United States, is not banking centric
[17:42] Money transfers have gotten so fast and easy that illiterate grandmothers are doing it
[21:21] What NJ views as the bedrock of a strong society
Fri, 20 December 2019
1351 FBF: Long-Term Tenants, Rent Increases & What Taylor Swift, Uber, and Robots Tell Us About Money with John Tamny
Today's Flash Back Friday comes from Episode 1003, originally published in May 2018.
Jason Hartman kicks off the show with listener Nate and his mom discussing what was learned during the recent Creating Wealth seminar, as well as getting some tips about how to create long-term tenants who are understanding of rent increases.
Then Jason talks with John Tamny, director for the Center for Economic Freedom, Editor of Real Clear Markets, and author of Who Needs the Fed?: What Taylor Swift, Uber, and Robots Tell Us About Money about why he believes the Fed doesn't have anywhere near the power they're given credit for, why their policies aren't effective in today's world, and why demographics may not be as useful as they're believed.
[5:01] If your tenants are there too long it might be a sign your rent is too low
[10:22] Some tips on long-term tenant retention
[14:49] Evictions don't just stem from not paying rent
John Tamny Interview:
[19:57] How Uber made John realizing something about the Fed
[23:40] The importance of the Fed is vastly overstated
[28:42] The idea that the rest of the world is in on some deal where they hold worthless treasuries isn't realistic
[31:39] Demographic arguments regarding Japan don't hold a lot of weight with John
[35:26] Money flows to its highest use, regardless of the Fed
Thu, 19 December 2019
What can you do when the government comes and seizes your assets? Jason Hartman and David Kirby, investigative journalist and author who was a regular contributor to The New York Times, Huffington Post and TakePart, and author of the new book When They Come For You, look into the practice of asset forfeiture, both civil and criminal. The two search for answers to the question of what regular citizens can do about the problem, as well as which states are really leading the charge in protecting their citizens.
[1:40] Police departments have become the modern day debtors prison
[6:40] The issue of debtors prison goes far beyond just the person who's incarcerated
[10:10] The egregious action of civil forfeiture
[17:31] What we can do about asset forfeiture
[20:40] Nebraska and New Mexico now have no asset forfeiture and 15 states now require a criminal conviction
Wed, 18 December 2019
Jason Hartman starts today's show examining a PBS News Hour story about the legacy of Paul Volcker. As you know, Volcker passed away recently, but the impact he had on multiple presidents still resounds.
Then Jason talks with Rabbi Evan Moffic about where we might be in the business cycle as we continue moving along in the longest economic recovery in recent history.
[5:47] PBS News Hour story on Paul Volcker
[9:10] Reagan's business plan was to put the Soviet Union out of business, and running up the deficit didn't cause the inflation everyone expected
[16:42] The next recession will not be real estate led
[19:39] The recovery didn't hit "par" from the Great Recession until 2013, so it's not quite so surprising we haven't had a recession in a decade
Tue, 17 December 2019
Jason Hartman starts today's episode from the Ritz-Carlton in Key Biscane, FL. He has created a new ratio for you to think about that can be put alongside the Rent-to-Value Ratio and all the other ones Jason has coined. Then he explores the concept of the unemployment rate versus the labor participation rate, the differences between them and what that means.
Then investment counselor Adam joins Jason to discuss a property in Mobile, AL and also to look at the growing wages in specialized blue collar jobs. The two explore how this will impact real estate values and what it could mean to 4 year colleges.
[5:06] Jason's newest ratio
[8:52] Unemployment Rate vs Labor Participation Rate
[13:32] The discouraged worker skews unemployment stats
[15:02] A property profile in Mobile, AL
[18:56] Blue collar wages are enticing people away from 4 year colleges
[24:28] How rising blue college wages rising could impact real estate and the cost of repairs to our investment properties
Mon, 16 December 2019
Jason Hartman starts today's show discussing the level of home flipping that's in the market right now. We're at a 7 year low, which means something in the marketplace today. It's important to accept today's landscape and figure out ways to invest in spite of that.
Then Jason talks with Chris Mason, mortgage broker, about what is happening in the mortgage market today, lending standards, and whether we're in danger of seeing another bubble burst.
[2:47] Home flipping isn't what it used to be, reaching a 7 year low
[8:02] We need to accept reality that inventory is tight and properties are more expensive
[11:25] The magic 2 words for a landlord
Chris Mason Interview:
[15:26] What increased loan limits mean for the mortgage market
[19:23] Are FICO scores really a good criteria for borrowers?
[22:16] Are financing rules getting too liberal again?
[26:15] Are interest only loans still available?
Fri, 13 December 2019
Today's Flash Back Friday comes from Episode 1009, originally published in June 2018.
Jason Hartman talks with Financial Survival Network's founder Kerry Lutz for the whole episode today, as the two discuss the very important concept of financial repression. While financial repression is bad for individuals, it can be very lucrative for people who have invested in real estate properly in their younger years.
The two also discuss the current phenomenon of "tax refugees" being created by states like California, and where these refugees are fleeing too, as well as when they expect any economic pullback to happen and what Trump is doing that the mainstream media isn't paying attention to.
[6:03] Make sure you get a home inspection and make sure you actually read it and learn the language
[9:211] What is financial repression?
[13:09] Financial repression is a great opportunity for those who invest in real estate
[16:45] Tracking the "tax refugees" leaving California
[23:16] What kind of economic outlooks has Kerry been hearing from the guests on the Financial Survival Network?
[27:14] The mainstream media is missing the fact that Trump is now making large chunks of the government irrelevant
Thu, 12 December 2019
Jason Hartman and investment counselor Adam explore the phenomenon of aging homebuyers in this episode before getting to some listener questions. Since the Great Recession the average age of homebuyers has skyrocketed into the upper 40s, about a decade older than it was before. Adam and Jason explore the reasons behind this shift and what it could mean for investors moving forward.
Then Jason and Adam answer 2 listener questions, one about Capital Expenditures and one about when NOT to do a 1031 Tax Deferred Exchange.
[4:16] The median age of homebuyers is now 47
[7:30] The downside of home ownership in this digital nomad society
[12:06] The history of homebuyer ages
[17:37] Are big CapEx like roofs and HVAC included in the pro forma maintenance percentages?
[21:12] Always ask for a Scope of Work prior to entering into a contract
[23:16] When shouldn't you do a 1031 Exchange?
[27:56] A property profile in Indiana
Wed, 11 December 2019
Jason Hartman talks with George Gammon, real estate investor, entrepreneur, investor and TV producer, about what's happening in the repo market and how that impacts the overall economy moving forward. The two address misconceptions about several aspects of investing and whether you should be happy or dismayed about certain aspects of the new Trump tax plan.
[3:50] Our longevity is going to be greatly changed in the next 20 years
George Gammon Interview:
[10:50] What is the repo market and why does it matter in the macroeconomic world?
[16:30] Money market funds are big players in the repo market
[19:05] The only "cheap" investment in today's economy is a 30 year fixed rate mortgage
[23:05] The new tax law has changed the way inflation is dealt with, and George doesn't think it'll be good long term
Tue, 10 December 2019
1343: Paul Volcker's Legacy & Thomas W Jones, Federal Reserve Bank, Freddie Mac, TIAA-CREF, Travelers, From Willard Straight to Wall Street
Paul Volcker, former head of the Federal Reserve, passed away December 8. Jason Hartman takes a look back at some of the biggest moments of Volcker's term and what it meant for the United States.
Then Jason talks with Thomas Jones, former vice chairman and director of TIAA-CREF, former Chairman and Chief Executive Officer of Global Investment Management at Citigroup, and former Chairman and Chief Executive Officer of Citigroup Asset Management. He was also the former Vice Chairman of Federal Reserve Bank of New York. Jason and Thomas discuss Thomas' entrance into real estate, why Thomas is so bullish on America long term, and what sets America apart from the rest of the world.
[3:47] Paul Volcker, the former Fed chair credited with "Breaking the back of inflation" has passed away
[6:04] Interest rates in 1980 spiked at over 18%, with inflation at 13%
Thomas W Jones Interview:
[11:50] Thomas and his bride actually started by bidding on 2 burned out buildings in Boston
[17:08] Thomas is perennially bullish long term, so dips in the economy are buying opportunities for him
[19:21] The changes on Wall Street over the years
[23:30] The most disappointing aspect to the reforms that have been made since the Great Recession
[28:39] One of the things that really sets America apart is the excited entrepreneurial spirit
[32:55] America faced a metaphorical crossroads in the late 1960s
[35:44] Our nation doesn't give itself enough credit for how far we've come, even though we still have a ways to go
Mon, 9 December 2019
Today's episode is Jason Hartman exploring Commandment #3: Thou Shalt Maintain Control a lot deeper. Maintaining control in real estate deals has been discussed quite a bit before, but it's not just real estate where control matters. Jason explores the collapse of Enron and why it was such a surprise and why Commandment #3 is crucial even in those scenarios.
[4:03] Airbnb hasn't been through a recession yet, so there's a lot that isn't priced in to the market
[8:06] The 3 major problems when you give up control in an investment
[13:54] The Infographics Show: The Business Deception That Cost $60 Billion
[16:59] The phrase "financial innovation" is a red flag when you hear it
[23:05] Most companies don't have people inside to pump the brakes, because everyone is incentivized to speak highly and show it in the best possible light
[25:26] Derivatives are the thing about the thing, but as an investor you want to be as close to the "thing" as possible
Fri, 6 December 2019
Today's Flash Back Friday comes from Episode 997, originally published in May 2018.
Jason Hartman starts off the show with client Doug about portfolio makeovers, why you should stay in the game for the long run, and the fallacy of the passive investment. Doug got out of the real estate business just before the (positive) market correction and missed out on a lot of money.
Then, Jason finishes his client case study with Muthiah. This time the two look at the actual process of Muthiah filing a claim against a bad provider and how he was about to get restitution after some avenues had failed. Jason also explains how to get a hold of his Hall of Shame resource list, and why you should file complaints even if they're not likely to help you alone.
[5:05] There's no such thing as a passive investment, but there are some things that are easier
[9:16] If you do the math properly, real estate versus the stock market isn't even a competition
[12:15] The problem with being too passive is you don't learn from your successes or failures
Muthiah Client Casey Study, Part 2
[20:00] Muthiah has never tried to self manage his current 20 properties
[23:00] Want Jason Hartman's Hall of Shame resource list? Fill out any form on JasonHartman.com
[25:18] Muthiah's process of filing complaints against the provider
[29:48] You're not just filing these complaints for yourself, it's your duty to protect other people
Thu, 5 December 2019
1340: Think & Grow Rich by Napoleon Hill & Success & Something Greater, Your Magic Key with Sharon Lechter
Jason Hartman takes a deep, deep dive into Napoleon Hill's work in today's show. We first start off dissecting the ideas that Napoleon brought out in his work Think & Grow Rich. Jason looks at various aspects of the book and how we can use them in our lives today and what power they have when used properly.
Then Jason talks with Sharon Lechter, former CEO of Rich Dad & Pay Yourself First and author of Success & Something Greater: Your Magic Key, about her experiences with both the Rich Dad company and the Napoleon Hill Foundation. Sharon provides unique insights into the impact both organizations have had on society today, as well as what she has discovered success means for various people.
[5:55] There's a lot more fulfillment in life available if we are not completely attached to the outcome
[10:22] Specialized knowledge has long been a must for true success
[14:49] The power of the mastermind is real and incredible
Sharon Lechter Interview:
[20:45] Napoleon Hill one of the original self-help authors?
[25:00] The different types of success Sharon saw while writing her latest book
[27:21] Why the man who sold the patent for the jet ski for $75,000 doesn't regret it
Wed, 4 December 2019
Jason Hartman begins today's show discussing something he has been promising for a while, which is the P vs PC balance. You can't go full P(production) or full PC (production capacity), you have to find a balance. Just like, as investors, we have to find a balance between action and education.
Then we have a clip from one of Jason's speeches at Profits in Paradise where he discusses the 3 forms of power.
[2:55] Social mobility is still possible but it's harder than ever before
[5:49] A clip from the Amazon documentary "Park Avenue: Money, Power and the American Dream"
[13:31] The P vs PC balance
[19:25] Quit getting ready and go
Profits in Paradise Live Clip:
[24:04] The 3 forms of power
[30:56] Think of ways you can use technology to improve your real estate business
Tue, 3 December 2019
Jason Hartman begins today's show with a little good news and a little bad news. Along with that Jason explores the idea of seeing the world in black and white and how getting older helps with that.
Then Jason finishes his interview with Ali Wolf, Director of Economic Research at Meyers Research, LLC., regarding what indicators you can expect to be leading and which are likely to be lagging. Some that seem like they could be leading are actually usually lagging and can hurt you if you invest off of them. Ali explains some ways she's been able to potentially see a downturn coming up to 3 years off.
[9:05] Bad news: More and more businesses are fleeing California
[10:20] Good news: homes are finally getting built
Ali Wolf, Part 3
[12:56] Consumer confidence, GDP and Non-Farm Payrolls are examples of lagging indicators
[17:21] Potential leading indicators that can forecast a downturn years ahead
Mon, 2 December 2019
Jason Hartman and investment counselor Adam begin today's show discussing two important things for a real estate investor: laws and the future. First off is good news for those investors that are fighting laws that restrict the ability of property owners to run short-term rentals. Then Jason and Adam discuss some good housing news that could lead to a happy 2020 (at least for housing).
Then Jason talks to in-house economist Thomas about interest rates. There's been some movement up and some movement down, but Thomas has an opinion on where he thinks rates will go in 2020 and why he believes that.
[4:17] The City of Austin lost a key case regarding short-term rental laws
[9:41] Make sure that you're not investing in a mania when you're looking at short-term rentals, and make sure your portfolio balance reflects that
[11:39] There's pre-demand in the housing market right now, which is a good sign for housing in 2020
Jason & Thomas:
[17:10] The Fed only indirectly influences mortgage rtes
[19:09] Why Thomas believes mortgage rates will go up in 2020
[21:20] The 2 Central Bank forces that will push inflation back up
[23:47] Why a $315 billion drop in money supply is important even though it's not much of a percentage of worldwide supply
Fri, 29 November 2019
1336 FBF: Self Management Revolution & Fixing Affordable Housing with NHP Foundation's Richard Burns
Today's Flash Back Friday comes from Episode 994, originally published in May 2018.
Jason Hartman wants to prepare you for the coming revolution. The self management revolution is coming, and it's time to see if you're up for the challenge. There are things that you need to do before you take the plunge, and Jason outlines some of them here.
Then, Jason talks with CEO of the NHP Foundation, Richard Burns, about the affordable housing crisis in the United States. The current method of creating affordable housing isn't working for anyone, but Richard thinks there's a way that it can be solved that benefits all parties.
[2:34] The coming revolution of self-management
[5:36] Drew's first taste of self-management
[7:45] Some steps to take before going full self-management
[11:09] Freddie Mac's new program
[15:23] Join Jason for his events in Philadelphia and New York, www.JasonHartman.com/Events
Richard Burns Interview:
[17:45] What solutions are available for affordable housing?
[20:38] The two components of real estates value
[22:20] We are nowhere near meeting the affordable housing demand, so what do we do?
[26:17] Where did the high paying, real careers go that made people end up in careers that were meant to be stop-gap jobs?
[28:25] What does Richard's non-profit do?
[31:59] Richard's thoughts on rent control
[33:51] What the Baby Boomer survey showed
Thu, 28 November 2019
On this Thanksgiving Day, Jason makes note on some things he has in his life that he is most thankful for. It's important that we take time to make note of these in our hectic lives. So in today's shortened episode that's exactly what we're doing.
Wed, 27 November 2019
Jason Hartman and Adam join forces today to discuss a big development in the mortgage market. Fannie Mae/Freddie Mac conforming loan limits are being increased again, this time to over $510,000, which will have substantial impacts on the housing market overall.
Later, Adam talks with one of the network lenders about where interest rates are today and what a weakening economy in 2020 might put them in a few months.
[2:11] Fannie Mae and Freddie Mac are increasing the conforming loan size to over $510,000
[7:03] Conforming loan limit increases generally lead to home price inflation
[10:54] The higher loan limit might impact hybrid markets more than cyclical
[14:57] Insights from Voxer messages left by listeners
[18:33] Technology is increasing the value of our properties
Adam Mortgage Minutes:
[24:57] Current rates for a $100,000 property with 20 or 25% down
[28:22] How might rates react if we see weakening in the economy that some are predicting in 2020?
[30:08] Mortgage starts don't seem to be slowing down for investors
Tue, 26 November 2019
1333: Client Case Study with Jaden Zubal: New Construction vs Renovated Properties, Millennial Investing & Money Tiers
Jason Hartman has another client case study, this time with 26 year old Jaden Zubal, an associate wealth strategist at Paradigm Life. Jaden started attending events when he was 22 or 23 and recently got into the real estate game by purchasing properties in Jacksonville, FL and Memphis, TN.
Jason and Jaden discuss how Jaden decided that new construction was the way for him, what market he likes for his next as he diversifies geographically, and how the 10 Commandments of Real Estate Investing have helped him along the way.
Plus, check out the link below and you can get a free audio and digital copy of Heads I Win, Tails You Lose by Pat Donohoe, as well as a complimentary consultation with Jaden.
[2:45] Good news for Texas property owners
[4:42] Housing inventory is even worse than we thought
[7:43] The average home listing price in America is $312,000
Jaden Zubal Client Case Study:
[10:31] Jaden attended his first Meet the Masters in her early 20s
[13:33] Which of Jason's commandments Jaden has found most useful in his investing journey
[16:24] The 2 things Jason believes Maslow left out of his hierarchy of needs
[18:50] The first 2 tiers of safely growing your money and keeping it protected
[23:46] Student loan debt is creating a generation of people feeling pessimistic about their financial future, so what's going to come of them?
[26:08] One of the separating elements of Jason's network is the value of the investment counselor
[30:12] What changed Jaden's mindset on new properties vs renovated
Mon, 25 November 2019
Jason Hartman and Investment Counselor Doug takes today's episode to discuss what's going on with the average FICO score across generations. The average FICO score is not something that Americans can be proud of, but it provides some serious advantages to real estate investors.
Then Jason and Doug highlight several Florida properties that are able to cash flow with new construction, which is something that is getting harder and harder to do in today's environment. Florida is becoming a bigger draw to those running away from high tax states, which is driving their real estate market.
[2:55] FICO scores are low across all generations
[6:18] You want a good credit score, not a perfect credit score
[10:40] Real estate takes about 8% in transaction costs
[16:05] Doug spotlights a Florida property
[19:43] Blogcast: How does inflation devour debt?
[23:39] Migration of residents will cause a shift in ownership in the old areas
[26:47] Real estate markets tend to expand and contract from the top
Fri, 22 November 2019
1331 FBF: Core Causes of Economic Crisis with William D. Cohan NY Times Bestselling Author of ‘Money and Power’ & ‘House of Cards’
Today's Flash Back Friday comes from Episode 243, originally published in February 2012.
Jason Hartman interviews author, former Wall Street senior banker, and best-selling investigative journalist, William (Bill) D. Cohan on the events that led up to the current economic crisis. Bill explains the choices that the big firms, such as Goldman Sachs, JP Morgan, etc, made regarding what type of institution they were going to be, the path of these firms that led up to the current crisis, and how they used the bailout money gifted to them. He said it was one big party on Wall Street, during which brokers were to bring in revenue using a lot of whacky products, until everything came crashing down. Huge bonuses were paid out from the revenue collected from unsuspecting clients.
Bill and Jason also discuss the Occupy Wall Street Movement. Bill expressed disappointment in the message of the movement, saying it isn’t clear and they need to learn how Wall Street really works so that they can be more effective in bringing about reform. Wall Street has been influencing what goes on in Washington and paying lobbyists and donating to congressional coffers so that they can get the regulations, or lack thereof, that they want, i.e. the Dodd-Frank Wall Street Reform and Consumer Protection Act. Bill talks about how the expansion of Wall Street into Middle Class America was not an accident, using the example of Merrill Lynch being a public company. This ultimately led to broken trust between Wall Street and Main Street, as people have now shied away from risk taking.
To solve the problems, Bill suggests changing the incentive system on Wall Street, in that it can no longer be okay to take huge risks with people’s money or get paid big bonuses whether they lose money for the firms or not, as well as going back to having to use their partner’s capital to operate. William D. Cohan offers audiences a unique, close-up perspective of the greatest financial crisis since the Great Depression. He combines deep knowledge of the investment banking world with the fine storytelling skills of an award-winning investigative journalist.
Thu, 21 November 2019
1330: Truthteller, An Investigative Reporter’s Journey Through the World of Truth Prevention, Fake News & Conspiracy Theories by Stephen Davis
After his intro discussing getting the money thing out of the way in pursuing your life and the difference between law and ethics, Jason Hartman talks with Stephen Davis, author of Truthteller: An Investigative Reporter’s Journey Through the World of Truth Prevention, Fake News and Conspiracy Theories, about the prevalence of fake news online and in every form of media. The two try to find ways to combat the issue head on and what the average person can do today (and in the future) to avoid being fooled.
[6:34] Get the money thing out of your way
Stephen Davis Interview:
[12:32] It's easier now than ever before for governments to lie to you and get away with scandals
[14:36] Fake news travels faster than truth on Twitter
[17:40] If you want good, investigative journalism, you're going to have to pay for it
[23:45] We need to stop letting companies like Facebook and Google escape the responsibility that media outlets have
[30:10] How governments deceive you
[36:21] Dealing with fake reviews on sites
Wed, 20 November 2019
Jason Hartman and one of the network's Florida market specialists discuss the Jacksonville market and what kind of housing is currently available. The two break down a pro forma for one of the available new construction properties and examine why Florida has become such a hot spot for people fleeing both the East and West coast states.
Then we have a segment from Real Data founder and president Frank Gallinelli about financial terminology. It's important when reading pro formas and doing your due diligence that you know what these metrics are. Frank breaks it down so that you're prepared when you go into your next property.
[4:28] Florida is now drawing people from the East and West coast
[6:28] Jacksonville market profile
[10:27] Examining a pro forma of one of the new construction properties available in Florida
[13:00] There are a couple properties available that you could take advantage of in a 1031 exchange
[15:53] People are moving to Jacksonville to be near St Augustine, which is the 2nd busiest place for tourists in Florida behind Disneyworld
[18:24] Frank Gallinelli on financial terminology
Tue, 19 November 2019
Jason Hartman starts today's show discussing how it's possible that low interest rates can be used as financial repression tool even though it seems like a good thing at first glance. He also explores an article highlighting affordability issues across the nation and how it's impacting markets that Jason's investors bought homes in prior to the runup.
Then Jason talks with Peter Hirshberg, founder of Maker City® Project and CEO and co-founder of Lighthouse.one, about Opportunity Zones and how they work with constructing cities. Jason and Peter explore how the incentives were created and why they are crucial to the success of projects like Opportunity Zones.
[3:47] Part of financial repression is low interest rates
[7:42] Affordability is becoming more and more of an issue across the US, including some where investors used to be able to get reasonable properties
[10:05] The Water Theory of money
Peter Hirshberg Interview:
[14:43] Economic reinvention is a bottom up thing as people found what they were good at and innovators moved into the city
[18:55] Why you have to create incentives like those the Opportunity Zone offers
[22:57] Why real estate matters
Mon, 18 November 2019
Jason Hartman and real estate attorney Bob start today's show discussing the importance of taxes and how they can seriously impact your real estate investing journey throughout your life. They also discuss what makes a good investor and the direction of law when it comes to real estate.
Then Jason talks with Steve Glickman, Senior Economic Advisor to President Barack Obama and chief architect of the Opportunity Zone project, about how the Opportunity Zone system works, the definition of an Opportunity Zone and what benefits the program provides for real estate investors.
[4:33] The multiplier effect of moving to a place where your money is treated better
[9:37] Jason's prediction for the next thing landlords will be held accountable for under the law
[15:50] What good, talented lawyers for commercial properties always do
[19:18] Good investors act, but only because the deal is good, not because they have the money
[23:27] Taxes are like reverse amortization
[26:02] High taxes encourage bad investments
Steve Glickman Interview:
[28:14] There are now 8.766 Opportunity Zones across the US
[32:31] There are about 300 Opportunity Zone funds targeting $65 billion and have raised about 15% so far. How big is this expected to get?
[35:28] The 2 big factors in why zone based programs become unsuccessful
[37:16] What is the Opportunity Zone program?
[40:23] Will Opportunity Zones exacerbate gentrification?
Fri, 15 November 2019
Today's Flash Back Friday comes from Episode 983, originally published in April 2018.
Jason Hartman takes a victorious look at a recent Wall Street Journal story declaring that more people are viewing renting as a long-term solution to their housing situation. That is FANTASTIC news for landlords, and will put the upward pressure on rent that every investor wants. Jason also gives a few travel hacks for going on a trip to multiple climates, and includes another market profile from producer Adam, this time on the Indianapolis market.
[2:25] The next decade of being a landlord is going to be amazing
[7:05] More and more people are seeing renting as a long term housing solution
[10:56] Jason's travel hacking tips for going on a multi-dimensional weather trip
[14:57] Indianapolis Market Profile
Thu, 14 November 2019
Jason Hartman and Rabbi Evan Moffic start off today's show discussing the major issue of senior housing. It's quite possible that it's been overbuilt and Jason and Evan discuss how you as an investor can take advantage of the aging at home trend.
Then we have a second part of Jason's extended interview with Ali Wolf, Director of Economic Research at Meyers Research, LLC., about wage growth, inflation, home appreciation and why interest rates have created some of the bubble that we find ourselves in.
[4:27] Senior housing may have been way overbuilt
[10:45] One of the biggest miscalculations with senior housing was that they thought 65 would remain "old"
[13:04] The way to take advantage, as an investor, of the increase in elderly people staying in homes then make sure you're including single story properties in your portfolio
[18:41] Jason's prediction on the future of Uber/Lyft/etc drivers
Ali Wolf Interview:
[20:26] Collective wage growth since 2015 is 13%, but inflation and home prices have gone up 25%, causing a widening gap
[24:51] Appreciation has slowed in most markets to the 2-3% range
[29:16] The only 2 markets that have seen have a lot of growth in sales in the past 2 years are Indianapolis and Phoenix
[32:01] Ali thinks the next downturn could be caused by a "Fed Induced Bubble"
Wed, 13 November 2019
1324: Changes for National Association of Realtors & Prosperity in The Age of Decline by Brian Beaulieu, ITR Economics CEO
Jason Hartman talks with Brian Beaulieu, author of Prosperity in the Age of Decline and CEO of ITR Economics, about what's really going on in our economy right now. It's not as doom and gloom as some people have made it out to be, and it wasn't so a few years back. Brian explains what indicators you should really be paying attention to and what's coming up in 2020 as well.
[3:45] We have a duty to hold people accountable and not accept bad behavior
[5:11] Big happenings with the NAR that's going to change the market
[10:37] A testimonial that didn't seem like one to start
Brian Beaulieu Interview:
[15:52] What is the next cycle going to be?
[19:05] The G7 leading indicator is something you should be watching
[23:34] The peculiarity of the trade tariffs that have been imposed
[26:44] Globalization is under severe negative pressure
Tue, 12 November 2019
You've been hearing for a while about how Jason's not a huge fan of Opportunity Zones, worried that they're overhyped. Well, today Jason Hartman talks with Eric Willett, Vice President at RCLCO, about what aspects of Opportunity Zones might be superfluous and how the real estate industry is reacting to the investment opportunity.
[5:53] We still have no idea the impact/ramifications of Opportunity Zones, but we're already seeing gentrification coming from it
[9:15] One of the big criticisms about Opportunity Zones is that many of them no longer need the designation due to investments that have already occurred
[13:09] The unintended consequences of Opportunity Zones
[17:27] How the gentrification index works
[22:57] The current state of multifamily housing
Mon, 11 November 2019
On this Veterans Day, Jason Hartman and Adam start today's episode discussing the history of the holiday, the 30th anniversary of the fall of the Berlin Wall, and, most important to real estate, the importance of due diligence (and the importance of questioning your own due diligence).
Then Jason talks with Patrick Boyaggi, CEO and co-founder of Own Up. Patrick and his company have a new mortgage model that can avoid hard credit inquiries that might aid investors looking for a loan but worried about their credit score.
[5:50] Jason's previous experiences at the Berlin Wall
[11:16] Advice on what to do after you do your due diligence on a property
[17:11] Near death experience and a criminals attempt to exploit it
Patrick Boyaggi Interview:
[21:46] Can rates stay low?
[26:24] Using Patrick's mortgage product doesn't give your credit a hard hit, how do they manage that?
[30:59] The impact of soft inquiries on your credit score
Fri, 8 November 2019
Today's Flash Back Friday comes from Episode 913, originally published in November 2017.
Jason Hartman starts off the show talking with Elisabeth Embry about how she makes her 5-year plans, and why it's important.
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).
[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
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
Thu, 7 November 2019
Before launching into his off-topic 10th episode show, Jason Hartman takes a minute to discuss a topic of real estate interest: the lack of homes available to homebuyers with a price point below $250,000.
Then Jason talks with Sharyl Attkisson, host of Sinclair Sundays, former CBS anchor and author of Stonewalled: My Fight for Truth Against the Forces of Obstruction, Intimidation, and Harassment in Obama's Washington, about today's atmosphere of fake news, online bullying and defamation, and how we can possibly combat them.
[4:17] Homes below 250k are starting to become extinct
Sharyl Attkisson Interview:
[9:50] With just a few Twitter accounts, smear operators can start an entire movement
[14:32] How do we reconcile a free but credible press when there are so many anonymous sources today?
[20:44] Journalists use to keep their political opinions to themselves, but now they're almost rewarded for it
[25:51] What should we make of the big tech companies censorship?
Wed, 6 November 2019
Jason Hartman reiterates the importance of Commandment #3 to start off today's episode: Thou Shalt Maintain Control!!! At his mastermind event he was pitched a syndication deal that reminded him how you can invest in deals that could make money but still come out behind when you compare it to other possibilites.
While discussing investing in funds/syndications, he also delves into the principal of character vs personality. When you're investing, it's important to look past most of the personality and focus on character or you could end up looking at a horrible result.
[4:37] A syndication deal Jason recently was pitched
[7:01] You shouldn't be happy just because you made some money.
[9:50] The Personality Ethic vs the Character Ethic
[18:35] Is California a 3rd World State?
[24:13] Why you should care about California's demise even if you don't live in that state or even country
[32:14] The people in charge are distracting us so they can do what they want behind the scenes
Tue, 5 November 2019
Jason Hartman starts today's show discussing the importance of finding a group that brings out the best you possible. Sometimes that can cost a lot of money, sometimes it doesn't. Then Jason explores another story that illustrates the importance of Commandment #3.
Then Jason talks with Ali Wolf, Director of Economic Research at Meyers Research, LLC. Ali and Jason explore which indicators are important and which ones are just smoke and mirrors when you're examining housing markets and markets in general. No surprise, some of the big ones you hear about in the news aren't the most helpful.
[4:24] The value of a network
[6:44] Jason's gotten back into Tabatta Pro
[10:15] Under Armour is coming under investigation
Ali Wolf Interview:
[17:30] What indicators you should pay attention to and which you should ignore as an investor
[20:19] Wages in the US are going up, but wage growth minus inflation still doesn't give people a big enough raise to keep up
[24:58] Even with the bad things that are happening we're still in positive growth
Mon, 4 November 2019
Jason Hartman and Investment Counselor Doug take a look at the danger of manias, especially when it comes to investing in startup companies (like WeWork). It's easy to get caught up in rising valuations and the like, but it's also easy to lose a whole lot doing so.
Jason and Doug then discuss the Wealth Simulation exercise that was held at Profits in Paradise, including lessons learned about the method of building your portfolio that will set you up for the greatest wealth.
[4:22] WeWork is a great example of why you should follow Commandment 21: Thou Shalt Avoid Manias
[9:17] Don't fall for the company line of how they're going to change the world. Voluntary exchange with a company changes the world on its own
[12:24] Don't be fooled by the resume or the amount of money that's being pumped into a company when making investment decisions
[13:57] Blogcast: Housing vs Shelter
[21:22] How the Wealth Simulation exercise worked
[25:23] One of the top strategies in the wealth simulation game was a mixture of linear and hybrid markets so you could take advantage of cash flow and appreciation
[31:35] You don't have to have too many properties before you're at the point where you're dealing with the law of large numbers
Fri, 1 November 2019
Today's Flash Back Friday comes from Episode 912, originally published in November 2017.
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.
[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
Thu, 31 October 2019
1315: Rent Control & Building By Building, Block by Block with Paul J Massey, Mayorial Candidate for NYC
Jason Hartman talks rent control today, both in his intro discussing the upcoming deadline for California's state wide rent control, and with Paul J Massey, former mayorial candidate for New York City and CEO of B6 Real Estate Advisors, as the two discuss the impact rent control is having on the real estate market in New York City. Cap rates aren't terrible for multifamily at the moment, but nobody knows what the future of their property is, so it's holding things back quite a bit.
[3:19] LA City Council recently decided that landlords are required to let current tenants renew their lease
[11:22] US housing affordability woes causing migrations
Paul Massey Interview:
[18:24] Luxury homes and condominiums have been overbuilt in New York City
[21:31] What are the reasons rent control is being done?
[25:14] Paul's real estate journey in New York City
[27:26] Cap rates available in New York City
Wed, 30 October 2019
Jason Hartman and Adam begin today's show discussing Jason's first car and how he recently adjusted the price of his old cars to inflation. They also discuss what's going to happen to McMansions with the new generations coming and the impact of declining HELOC activity.
Then Jason finishes his talk with Jeff Fromm, the Millennial Marketing Guy, about Gen Z & Y. While the two generations are close in age, they are incredibly different when it comes to advertising and habits, so it's crucial that you understand the difference in the two.
[3:57] Adjusting things for inflation makes a world of difference when comparing
[7:46] The generation that's willing to give up the most to buy a home is Gen Z
[10:48] McMansions and Millennials
[14:03] HELOC activity being lower is a good thing for housing market stability
[17:36] The importance of skin in the game
Jeff Fromm, Part 2
[18:33] Gen Z and Y both like to be involved with companies that support their causes, but there are some differences
[22:42] Will the Millennials and Gen Zers have interest in the McMansions that were built?
Tue, 29 October 2019
1313: Mortgage Payments, Buying Power & Generational Differences Between Gen Y & Z with Millennial Marketing Guy Jeff Fromm
Jason Hartman starts today's episode discussing improved home purchasing power for consumers. Shifts in median mortgage payments has created opportunities for buyers and investors.
Then we have the first part of Jason's talk with Jeff Fromm, the Millennial Marketing Guy, about the differences between Gen Y and Gen Z. While the two generations are close in age, they are incredibly different when it comes to advertising and habits, so it's crucial that you understand the difference in the two.
[4:24] The coming McMansion issue
[7:06] One of the High 5 metrics Jason looks at is the median mortgage payment
[11:35] Home prices are actually 42% below their 2006 peak when factoring in consumer house buying power
Jeff Fromm Interview, Part 1:
[20:35] Gen Z are NOT Millennials to the 2nd degree. They're more like Gen X
[24:07] Some of the big differences between Gen Y and Gen Z
Mon, 28 October 2019
From poolside at their luxurious resort in Orlando, Jason and his mom take a look back at the weekend to examine what all they learned during Profits in Paradise. The two discuss the high quality of construction being done by the team in Florida, what they learned about their real estate business and takeaways from the Wealth Simulation game Doug ran.
[5:20] The tools we have available for our real estate business can make us a lot more money than we could otherwise
[8:36] Jason's mom absolutely loved the single family new construction first impression during the Friday property tour
[14:11] James Malinchak's speeches reminded Jason's mom that you can often learn more things from your failures than successes
[18:37] As real estate investors we're running Invisible Organizations
[21:48] Mitch Russo's girlfriends letter to Jason about Profits in Paradise
Fri, 25 October 2019
Today's Flash Back Friday comes from Episode 948, originally published in January 2018.
Jason Hartman finishes up his conversation about asset protection with Garrett Sutton. The two delve into the external threats to your portfolios this time, looking at how to properly protect your properties if lawsuits come toward you.
Garrett also explains when you would want to take an LLC over a corporation, what states are best for protecting you, what actions are being taken to weaken LLCs across the nation, and why doing more than the law stipulates can be a very good, very easy thing.
[2:38] Photos from Meet the Masters are up at www.JasonHartman.com/Photos
Garrett Sutton Interview:
[7:31] Two areas where Jason sees real estate creating liabilities for the owner: fair housing and safety
[11:47] The external threat is the biggest threat for your assets
[13:47] Breaking down Slide #6
[17:54] What you need when you domesticate a judgement
[20:02] It's a good idea to have yearly meetings for your LLC even if your state doesn't require it
[22:13] States that have good asset protection for LLCs and corporations
[24:21] Why an LLC over a Corporation
[27:59] Some states are not providing asset protection for single member LLCs
[31:59] Garrett's $100 off deal for Jason's listeners
Thu, 24 October 2019
In this off-topic 10th episode, Jason Hartman spends some time analyzing the power of the brain and what our brain does to protect ourselves and allow us to function in our day to day life. He also lays down a challenge for all listeners in order to figure out what's important to us all.
Then Jason talks with Lawrence Susskind, Ford Professor of Environmental & Urban Planning at MIT and Vice-Chair of the Program on Negotiation at Harvard Law School and author of Entrepreneurial Negotiation: Understanding and Managing The Relationships That Determine Your Entrepreneurial Success, about what urban development means in today's age and ideas coming up that can help alleviate many of our city's difficulties.
Jason and Lawrence also discuss the importance of negotiation and the mindset you must have whenever you enter into them. Many people's attitudes these days are skewed toward doing what's best for themselves, and Lawrence explains why that's wrong and why the methods we're trying to use for negotiations are all wrong.
[4:25] Always be trying to strengthen your attention muscle
[7:15] Our brains are phenomenal at denying we're going to die, which allows us to function
[13:59] Jason actually did an assignment that a professor gave in the 1988 movie Cocktail
[19:20] What if we embraced life and brought our A game every day rather than thinking death was some thing way off we don't need to worry about?
Lawrence Susskind Interview:
[24:05] The art of urban planning and its changing nature
[27:06] Cities are going through a process of change and we're likely to see big cities continuing to spread rather than becoming denser
[32:09] Some ideas for the future on how to reduce or eliminate traffic
[36:47] The single most important thing to becoming a better negotiator
[41:49] You need to know the other party's options so that you can know where you stand in negotiations
[45:42] How negotiation can make you a better leader
[50:10] We need to stop thinking that text based communication can be a way to run a business
Wed, 23 October 2019
Jason Hartman and Adam come together to discuss an article from the Drudge Report about the big cities losing workers by the hundreds, as well as a Business Insider article looking at the number of Millennial Millaires and where they're located around the country. Jason and Adam explore what these trends and stats mean to real estate values and what real estate investors can do with that information. Plus, Jason brings an unbelievable property to the show for you, what's the catch???
[2:55] Big name cities are losing people in the 150-300 per day range
[6:39] A mass exodus to rural areas needs companies to embrace 100% remote working at a higher level
[10:19] A property comparison
[17:55] Don't just pay things because someone sends you an invoice. Make sure it's legitimate and the best price possible
[24:49] Where are the Millennial Millionaires and what's their wealth worth?
Tue, 22 October 2019
Today Jason Hartman examines Chapter 17 of Charles Murray's book, Coming Apart, and explores why it's so important that we face struggles and adversity in our life. Working for things and fighting battles is what makes things worth living, what keeps life interesting. Being handed things doesn't make life better, it makes it boring.
[3:51] The challenges and struggles we experience aren't bad, they're good
[12:31] If you want to build a great real estate portfolio, climb the corporate ladder, anything, you need to fight some battles
[15:56] Some recommended authors for your education
[20:10] People have compared the US to the Roman Empire, and it's important to remember that Rome collapsed from within
[27:06] Not having to work for things makes life boring and can tear you apart
[32:49] The more we rely on the government the worse our life gets
Mon, 21 October 2019
1307: Graying of America & Don't Save For Retirement, Millennial Guide to Financial Freedom by Daniel Ameduri, Future Money Trends
Jason Hartman and Adam begin today's episode discussing the topic of the graying of America, and what the increasing demographic of people over the age of 80 means to real estate investors.
Then Jason talks with Daniel Ameduri, co-founder of Future Money Trends newsletter and author of Don't Save For Retirement: A Millennial's Guide to Financial Freedom, about how the working environment has changed from the Baby Boomers to Millennials and how the Millennial generation need to change their mindset about retirement in order to not be left behind when they're ready to leave the rat race.
[5:52] How a cruise ship is a metaphor for life
[9:55] 18 million adults in the US will be in their 80s in the next decade
[12:23] The cost of construction could drive the elderly out of their homes if they need to renovate for their lifestyle
Daniel Ameduri Interview:
[18:55] What does Daniel mean when he tells people not to save for retirement???
[23:09] Beware financial advisers, there's more education required to be a hair stylist
[27:52] Millennials should embrace the freelance economy
[32:10] Daniel is seeing boom time for the next year
Fri, 18 October 2019
Today's Flash Back Friday comes from Episode 947, originally published in January 2018.
Jason Hartman wanted to make sure that the practice of asset protection is understood by every investor, because it can make or break your portfolio if done wrong.
As such, he invited Rich Dad Advisor Garrett Sutton back on the show for a long, in-depth interview. We'll finish it up tomorrow with the second half, but today the two discuss the inside/outside attack on LLCs, discuss which states have weak and strong LLC protections, and how to protect your properties properly.
[4:26] The impact of controlling the money
[7:58] How music has impacted societies around the world
[10:43] Want to go to the Icehotel in Sweden with Jason?
[13:11] The inside attack versus the outside attack
[16:54] California has the weakest asset protection laws in the union
[19:00] Why Wyoming LLCs can protect your other LLCs better than any other state
[23:34] If you have your state LLC inside a Wyoming LLC domesticated in your state, which state rules apply?
[25:44] Why is it called an "Armor 8" strategy and when is it a good choice?
[30:37] How the Wyoming LLC provided a win for a car wreck causer
Thu, 17 October 2019
1305: Client Case Study: Real Estate Investing Before, During & After The Great Recession with Sean Carroll
Jason Hartman talks with client Sean Carroll about the journey he's had with real estate. From starting out as an agent in New York before the Great Recession to losing every penny he had, Sean now has a portfolio of properties that is allowing him to be in the career he wants to be in. Jason and Sean explore Sean's best and worst decisions in order to help you stay on a safe, profitable path.
[4:04] How Sean lost BIG during the Great Recession
[8:53] The deal that truly put Sean under
[13:49] The system is set up to create asset inflation
[16:24] The owner of a home Sean sold in 2006 is still $70,000 underwater
[21:26] Stop calling things problems and start calling them challenges
[25:35] Apps, tools, tips Sean has for investors
Wed, 16 October 2019
1304: Refinancing, Housing Affordability & Homeless to Billionaire, 18 Wealth Attraction Principles for Creating Unlimited Opportunity by Andres Pira
From St. John, New Brunswick, Canada, Jason Hartman looks at 2 news articles that should make real estate investors pretty happy. They're about how even high earners aren't able to buy homes right now (giving us a bigger renter pool to serve) and how the refinance market has skyrocketed and how you can take advantage of it.
Then Jason talks with Andres Pira, CEO of Blue Horizon Developments, Managing Director of Phuket Condos & Homes and author of the book Homeless to Billionaire – The 18 Principles of Wealth Attraction and Creating Unlimited Opportunity, about his journey through real estate investing and how he reached this point in his career. Andres explains the importance of giving before expecting and how that will help you succeed in business and life.
[5:03] People making $100,000 a year still can't buy homes in many American cities
[9:16] Refinancing is up 300% due to low interest rates
Andres Pira Interview:
[13:29] Andres' path through the real estate world
[17:48] You have to take risks in life, so just make sure you consider the worst case scenario and whether you can bounce back from it
[21:21] Vibrational giving: give out first, then good things will come later
[26:31] Stop trying to win deals and make them win-win
Tue, 15 October 2019
Jason Hartman, from just outside the shores of Boston, takes a dive into the extent to which the idea of fiat currency has spread throughout the country's conscience in the past few years. Several years ago you wouldn't have heard a peep about it, but with the rise of cryptocurrency it's become more and more prevalent. He also explores Orlando's position in the rental market and how long properties are staying on the market.
Then we go to a clip from the 2018 Meet the Masters of Income Property, where Jason discusses how his prediction of 6 million new renters came more than true.
[4:23] Fiat money is becoming more and more understood by society at large
[9:39] Money is moving out of stocks in the largest quantity in the last decade
2018 Meet the Masters:
[18:00] The belief that the decline in home ownership rate is a tragedy for society is unfounded
[24:20] Eventually Millennials will start inheriting money and that will impact the housing market
Mon, 14 October 2019
From the Fall Foliage cruise, Jason Hartman begins today's show discussing what we don't see when we look at successful people. We don't see the struggles they've dealt with on the way to the success we now see.
Then Jason talks with Spencer Burleigh, co-founder of www.RentTheBackyard.com. Spencer's company will build a unit on your land, list it online and split the rental profits with you 50/50 as long as you have an area at least 25' by 20' clear and you live in your home most of the year. Listen in as Jason and Spencer discuss the business model and how you can take advantage of it.
[6:49] Anybody who is successful, we either don't realize or we forget that their success, but they've fought battles all the way
[13:10] A Nelson Mandela quote that you need to remember
Spencer Burleigh Interview:
[15:35] What problem is Rent the Backyard addressing?
[20:30] Rent the Backyard is able to create a second dwelling on the property without getting the land rezoned
[25:06] The stigma behind manufactured housing needs to go away, but it also needs to get cheaper
[28:38] The income side of Rent the Backyard's business model
Fri, 11 October 2019
1301 FBF: Leveling the Tax Playing Field, Inflation vs Technology, Popular (Stupid) Economic Ideas, Improve Your Quality of Living
Today's Flash Back Friday comes from Episode 1019, originally published in June 2018.
Jason Hartman has a solo episode today as he explores some recent news stories and examines a few items of the day. Venturing all over the topics, Jason mulls over why it's pretty common for the most popular economists to have the worst economic ideas (a la Karl Marx) and why the best economic ideas have the most disliked economists. Which leads to the question, what stupid ideas are we as a society embracing today?
He also discusses the Supreme Court ruling that will somewhat level the field of retail as online retailers are now able to be taxed by the states, giving at least some form of a light at the end of the tunnel for retailers.
Other topics of the day include the cost of terrorist protection, technology vs inflation, preventing identity theft, and the potential beginning of the demise of a massively overvalued (in Jason's mind) company.
[4:54] The economists who present the best economic views are not the most popular
[7:39] What totally stupid ideas are we embracing as a society today?
[13:08] One massively overvalued publicly traded company today
[16:39] The tax field was significantly leveled last week
[21:14] The battling forces of inflation and technology
[24:22] Why you need to shred EVERYTHING with a cross cut shredder
[26:45] If you can geoarbitrage, make a conscious choice to live in a higher quality location with a lower cost of living and low or no state income tax
[32:57] The demographics coming at the rental housing market in the next 10 years are nothing short of phenomenal
Thu, 10 October 2019
Jason Hartman begins today's show discussing some potential signs that inflation isn't currently a problem, his recent settlement he received from a landlord and what you can expect from business deals in today's environment.
Then, for our off-topic 10th show interview, Jason talks with Graham Hancock, author of the new book America Before: The Key to Earth's Lost Civilization, as well as the best selling book Fingerprints of the Gods: The Evidence for Earth's Lost Civilization, about why the Americas were probably settled long before we originally thought they were. The two also delve into the idea that past civilizations were much more advanced technologically than we give them credit for, their technology was just different from ours so we tend to discount it.
[4:28] The Producer Price Index has fallen, which suggests inflation is tame
[6:35] Jason's recent settlement with a landlord
[11:12] When you get in a business deal, don't expect to be able to hold people accountable through the system
[14:19] Corporate pensions are underfunded and a huge risk to rely on
Graham Hancock Interview:
[19:15] A massive cataclysm struck the earth between 12,800 - 11,600 years ago
[22:38] It's distinctly possible that the lost civilization was advanced technologically, just in a different way than we currently are
[25:21] The Great Pyramid shows us that whoever built it had a complete knowledge of the size and nature of the Earth
[28:48] The problem with American archaeologists' Clovis First model
[33:45] It's human nature to not want to admit you were wrong, but in the end the evidence will force people to accept new theories that are shown to be correct
Wed, 9 October 2019
Jason Hartman discusses something he has talked about many times today, and that is the value of a dollar. To do so he breaks down a YouTube video by the Wall Street Journal that discusses inflation and what scares the Fed when it comes to it. Then Jason and Investment Counselor Carrie discuss her recent mini-property tour with investors and the upcoming property tour in Florida the day before Profits in Paradise.
[4:37] Is capital or labor more important
[7:47] Low inflation or even deflation can have disasterous consequences
[12:59] When rates are low, more people take out credit, and credit is a phantom version of money supply
[17:32] Inflation arbitrage can't last forever
Jason & Carrie:
[23:43] How Carrie's mini-property tour went
[26:50] The Refi Til Ya Die plan in today's market
[31:15] We're in an environment where you can just ask your lender for a better interest rate and it can work without a refinance
[32:27] Inventory is finally starting to pick up
Tue, 8 October 2019
Jason Hartman and Investment Counselor Adam take today's episode to examine a real estate scam that is finally being investigated by the FTC that has been used to defraud untold number of people out of tens of thousands of dollars each. These criminals might finally be held accountable. After that Jason and Adam examine Dan Ariely's YouTube video about how to make money less abstract and why the idea of paying yourself first is so important. They then wrap up the episode with some great economic news for our tenants that neither side of the political aisle is talking about.
[4:07] The FTC is examining alleged scams with TV stars from shows about flipping
[9:33] Be wary of free events
[13:20] How to compare your money
[16:22] Create your own hedonic values when it comes to your money
[18:18] Pay yourself first is an important concept for our lives
[20:55] The Pain of Paying concept
[27:40] The wage growth story that neither political party wants to take credit for
[31:27] The theory of anti-fragility
Mon, 7 October 2019
Jason Hartman and Investment Counselor Sara talk about some of the issues that clients are dealing with and considering in today's episode. With rates as low as they've been in years and the ability to refinance or get a line of credit at reasonable rates, what is an investor to do?
[3:40] Non-refi interest rate reductions are happening, so don't be afraid to ask
[7:31] Refi a 30 year fixed rate or do a HELOC?
[12:17] A look back at "Go Zones" and what some of the problems were
[21:35] The current investor vibe
Sat, 5 October 2019
Jason Hartman joins Investment Counselor Sara and one of the Florida market specialists to discuss the upcoming Profits in Paradise event and the Florida property tour the Friday before the event. Prior to the Great Recession, the network dealt exclusively with new construction. Now it's a rarity, but Florida (and Atlanta) is able to provide that right now. New construction allows for win-win-win situations between investors, developers, and tenants.
Fri, 4 October 2019
1296 FBF: Your Investment's Weak Link & Dealing with Bad Sellers, Client Case Study with Muthiah, Part 1
Today's Flash Back Friday comes from Episode 995, originally published in May 2018.
Today's episode is another in property management education. It's crucial that you identify the weak link in all your investments, as well as figuring out a safeguard against them. When it comes to your real estate investing, it's quite possible that your weak link is your property manager.
After his intro, Jason Hartman has part 1 of a client case study with Muthiah where the two discuss an incident Muthiah recently had with a vendor, and what actions you can take when you're being wronged.
[5:25] Cutting out the middle men - property managers
[9:08] One of the best decisions Jason made when he got into the nationwide real estate business 14 years ago
[13:09] Looking for the weakest link in your investments
[17:30] Jason's been accused of being a complainer, but is that such a bad thing? Complainers change the world
Muthiah Client Case Study:
[22:27] What happened to Muthiah that created tension with the seller
[24:55] If the seller wants to close before the repairs are completed, the only way you accept is if they have money held in escrow in case they don't do what they promised
[28:00] The two ends of the company spectrum
[30:51] What Jason wants you to negotiate with your property management contract
[34:52] The inherent conflict of interest with property managers
Thu, 3 October 2019
Jason Hartman and investment counselor Adam take a look at some good news in today's economy. Home prices are expected to continue, mortgages are safer than ever, and jobs are increasing for all. They also look at some not so good news, from foreign money leaving the economy to the high income tax state apocalypse.
[2:56] CoreLogic expects home price gains to accelerate through 2020 and mortgage rates are expected to stay below 4%
[7:53] Mortgage default risk continues to decrease
[11:43] Inflation in entertainment has been enormous, watch out for how pooled money asset companies use their money to pay for it
[17:10] The high income tax state apocalypse is underway
[21:23] Foreign money has helped push out middle class people
[27:02] Some great news on jobs
Wed, 2 October 2019
1294: The Mystery of Capital, Why Capitalism Triumphs in the West & Fails Everywhere Else by Hernando De Soto
Jason Hartman wants to remind everyone to slow down and notice the things around you in life. Before getting to the main interview, Jason reflects on a country song he almost didn't listen to this morning and how it made him do a little introspection.
Then Jason talks with Hernando De Soto, founder and President of the Institute for Liberty and Democracy and author of The Mystery of Capital:, about the elements of capitalism that are most important and how property rights are absolutely essential. They also discuss the growing sentiment toward socialism in the United States and what impact that could have.
[6:12] Jason's lesson from a country song
[9:42] There will be an offering for tickets to the property tour on Friday before Profits in Paradise if you can only make that
Hernando de Soto Interview:
[12:56] The 5 mysteries of capital
[17:35] Capitalism is one of the few (if not only) systems that gives the lower classes a chance against the rich
[23:37] What we do as capitalists does not translate to what we do in politics
[28:11] The issue of equal opportunity for capital has to be addressed for capitalism to regain its popularity
Tue, 1 October 2019
Jason Hartman and Thomas the Economist take today to discuss a different view on Inflation Induced Debt Destruction. Jason and Thomas dig in to some stats from Shadow Stats that show what is, potentially, the real rate of inflation, and it's VASTLY different from the numbers the government puts out for public consumption.
[6:44] Jason's latest book recommendations
[7:55] One huge benefit we get as real estate investors is optionality
[13:20] Things aren't always as they seem when you look at the real numbers
[16:03] Interest rates and mortgage payments
[22:22] Houses today are barely any more expensive today than they were in 1989 based on adjusted numbers
[28:34] Substitution could be useful for inflation, but the government tends to abuse it to keep the numbers where they want
[32:34] How to get your after inflation and tax effective interest rate