Mon, 19 August 2019
Today's episode begins with Jason Hartman discussing how there's a new startup that's designed to help you make money on your property in a new way. There are more and more ways to capitalize on the assets you own, but you can't do it unless you actually own the asset. If you're just reading about them and not doing anything about it you're cheating yourself.
Then Jason talks with Garrett Sutton, Rich Dad Advisor and author of Loopholes of Real Estate, about some recent Supreme Court decisions that will impact your life in a positive way. No matter what you think about the political division in the court, there are some things on which everyone can agree, and that's the case with these two cases. They also discuss the pros and cons of Series LLCs and the Economic Berlin Wall Jason's been lamenting for years.
[3:18] A new startup is allowing people to rent their house/rooms/couch/etc for hours, not days
[8:05] You can make money by utilizing assets that were formerly dormant
[11:38] If you don't own the asset you can't take part in the money making, so get the asset!
Garrett Sutton Interview:
[15:20] The Supreme Court unanimously cracked down on excessive civil forfeiture,
[19:08] Why you should actually CARE about the civil forfeiture decision
[22:02] Another unanimous Supreme Court decision that protects trusts
[27:27] California is trying to create an Economic Berlin Wall to avoid a brain drain
[31:40] There's a new development for Series LLCs
[36:08] There's not a lot of case law for Series LLCs, which can make it a sketchy area
Sat, 17 August 2019
We can create our future by visualizing it repeatedly with significant detail. Jason Hartman discusses how you can improve your life by using this tool.
Fri, 16 August 2019
Today's Flash Back Friday comes from Episode 854, originally published in July 2017.
In between activities during the Oklahoma City JHU Live event is a great time to record a podcast with new income property investors. David & Gina Nelson share their story of the life-changing decisions that led to investing in real estate with Jason. David & Gina recognized staying in their corporate positions and only investing in the stock market wouldn’t get them where they wanted to be in life.
They convey their appreciation for the transparency and support they have received from the Jason Hartman Investment Counselors and share their advice on how you too can have the diversified financial future you deserve.
[01:40] David & Gina wanted to take control of their lives and build their wealth by investing in income properties.
[06:15] You are never too old or too young to start investing in your future and real estate.
[09:20] The portfolio builder game is a great way to find out what type of investor you are.
[12:03] The Nelson's plan to retire next year and use income property as their wealth vehicle.
[16:59] The value in understanding the linear, hybrid and cyclical markets.
[20:43] David & Gina recommend finding a mentor and listening to podcasts to educate yourself.
Mentioned in This Episode:
Thu, 15 August 2019
Jason Hartman kicks off this 10th episode discussing the furthering trend of people fleeing high tax places like California and New York to tax favorable places such as Florida. It's becoming a more and more common thing and states need to understand this before they run into even more fiscal difficulties.
Then Jason goes off topic with client Rabbi Evan Moffic, author of The Happiness Prayer: Ancient Jewish Wisdom for the Best Way to Live Today. The two discuss why the bible actually promotes wealth (and what we should DO with that wealth), as well as what gives people true happiness.
[2:47] Florida is bringing in billions of dollars as people flee high taxes
[8:45] California is passing laws to increase revenues and are becoming predatory on their citizens
[13:56] There's no starter homes being built, so your properties won't have any new competition
Rabbi Moffic Interview:
[17:26] Human beings are creators, and if you don't get to create you don't usually feel fulfilled
[19:59] Pleasure and happiness are two completely different things
[24:47] Plant a tree whose shade you will never sit under
[27:34] When you're feeling sad the best thing you can do is do something nice for someone else
[31:19] The bible is a pro-wealth product that teaches us to use our wealth to serve others
Wed, 14 August 2019
Jason Hartman finishes his conversation with investment counselor Doug about real estate and PE ratios. The two discuss the importance of analyzing RV ratios in markets to discover whether a bubble is forming (or might already be formed) but also the dangers of relying strictly on those RV ratios.
[2:38] How to think about Cap Rates
[5:55] Commercial property doesn't have enough risk premium right now
[9:34] Real estate has a lot of embedded risk protection a lot of people don't realize
[15:16] The thing that is going to drive the next housing downturn will be when we see rising mortgage rates
[17:40] The 1% RV is for a turnkey rehab. New construction isn't getting 1% right now
[21:16] When your RV hits .5 you're looking at a bubble
Tue, 13 August 2019
1258: BRRR Method, Manufactured Homes, Self-Management & Future Expectations Impact on the Housing Market
Jason Hartman talks with 2 investment counselors in today's episode. First he talks with Adam to discuss the popular BRRR investment model (Buy, Renovate, Rent, Refinance) and why manufactured homes have a bad reputation and why that needs to change.
Then Jason talks with investment counselor Doug about the importance of future expectations when looking at any market, including the real estate market. Just like in the stock market, future expectations drive a lot of value for real estate, especially in cyclical markets. The second half of this conversation will air tomorrow.
[4:13] BRRR proponents don't ever tell you about their tax liabilities or their hunt for a deal
[8:05] We should look upon manufactured homes a lot better than we do right now
[10:43] The online housing kits are currently way more expensive than they pretend to be
[14:38] Doug's experience using Cozy so far
[19:26] You make money in life by adding value
[23:39] When you take the manager out of the equation you can just the property on the property alone
[26:08] The importance of future expectations
[29:53] When expectations decrease it's not just a little drop, it's a spiral
Mon, 12 August 2019
Jason Hartman takes today to play a live clip from the 2019 Meet the Masters of Income Property. Sunday afternoon is a time many people use to purchase properties from providers, leaving the room a little light on people. In this presentation, Jason updates his Inflation Induced Debt Destruction example from the high interest rate period he originally used into the lower interest rate environment that people who purchased in the late 80s have experienced.
[5:01] Join Jason and go cruising (with good internet)!
2019 Meet the Masters Presentation:
[10:21] Asset price inflation isn't measured, but it probably should be
[14:19] Life is really a game of staying power
[17:35] Every decision we make is a decision to improve our condition
[21:00] Inflation Induced Debt Destruction from 1989 - 2018
[28:43] What does a lower inflation rate period do to IIDD?
Sat, 10 August 2019
Visualization is an immensely powerful thing. What the mind can conceive and believe, the mind can achieve.
Because of the power of visualization, Jason went and found an expert who can help real estate investors get in the right mindset and, hopefully, set you on a path to an even better portfolio and life.
Today is the 10th installment of our guided visualization journey.
Fri, 9 August 2019
1256 FBF: Indianapolis Market, Property Management Best Practices & Tenant Screening with American Apartment Owners Association Rent Recovery Service Jeff Cronrod, Part 2
Today's Flash Back Friday comes from Episode 964, originally published in February 2018.
Jason Hartman kicks off today's episode with some big cryptocurrency news out of Venezuela and Poland this week that show both strength and weakness for the market, plus producer Adam interviews one of the Indianapolis Local Market Specialists about what makes Indy a good place to invest.
Then Jason finishes up his interview with Jeff Cronrod. This time they focus on best practices for property management and how to properly (and legally) screen tenants.
[2:07] There's better ethics involved in taking the long term approach
[7:07] Poland's Central Bank paid YouTubers to slander cryptocurrencies
[9:08] Venezuela's massive oil based cryptocurrency
[10:21] Indianapolis Market Profile from a Local Market Specialist
Jeff Cronrod Interview, Part 2:
[20:02] Jeff's property management best practices, and proper tenant screening
[24:18] What sort of reports are available for landlords?
Thu, 8 August 2019
Jason Hartman and Adam start off today's show discussing how rates have allowed more and more people to start refinancing their homes, but also how federal mandates are allowing them to pull less money from their homes. This is having the effect of both putting more money into the economy but also keeping the housing market safer than it was before the Great Recession.
Then, Jason finishes his conversation with Dr. David Kelley, founder of The Atlas Society and current Chief Intellectual Officer for the society, about the degradation of our society where people are viewing minimum wage jobs as careers and the dangers of our entitlement society.
[2:09] There are microscopic creatures that can survive in outer space and some of them ended up on the moon thanks to an Israeli probe
[7:53] Lower rates have made 8.2 million homes available for refinancing
[10:19] A lot of people will be making a lot of money off the increase in refinances, so it's good for our economy
Dr David Kelley, Part 2
[16:26] We have degraded to the point that people are considering minimum wage jobs as careers
[20:41] Entitled mentality is toxic to society