Creating Wealth Real Estate Investing with Jason Hartman (general)

Massive shifts in the world economy are coming and may be as soon as 2020. The United States has the unique opportunity to take charge of the change through technological breakthroughs that will lead us down the utopian path. In addition, the U.S. is still the best country in which to make real estate investments. But if you do it be wise about it. Private investments are one of the safest vehicles to create your wealth. Be wary of group investment funds which put the control of the funds in someone else’s hands. Jason cautions his listeners against this type of investing. Before signing any deal read every word of the paperwork. 

 

Key Takeaways:

 

Jason’s Editorial

[1:13] Oregon has no sales tax! A great place for retail therapy. 

[1:58] People make uneducated decisions

[3:59] The Venture Alliance for investors

[4:59] The group choice is not a good choice

[6:18] Partnerships with people you know and trust 

[8:15] The World Domination Summit is an example of the inefficiencies of conferences

[10:25] Unemployment and cohabitation is Greece

[11:54] Jason’s 6 Ways to Escape the Debt Disaster

[13:18] Human workers displaced by Robotics even the written word

[15:44] Countries in risk of a government external debt crisis 

[19:15] Leave us a voicemail on your thoughts of robotics in the future

[20:24] Minimum wage increases unemployment

[22:20] Massive shifts in the economy by 2020

[23:22] An update on the Chicago tour, 8:30 on Thursday morning

 

Listener Andrew:

[24:58] Jason help me with this investment in Texas

[28:00] What are the questions I need to ask before signing?

[29:30] Start by getting the basic information

[32:04] Jason doesn’t care for investing in groups 

[32:55] Thou shalt maintain control

[33:45] What protects your money from misuse when it’s part of a fund?

[36:05] If the deal is that good investors try and keep it to themselves. 

[39:56] Questions to ask before investing and read every word of the documents

[41:57] Be suspicious of the others investors involved

 

Mentions:

14 Countries that are Spiraling Towards a Debt Crisis - Heather Stewart

 

JasonHartman.com

Direct download: CW_541_Apartment_Fund_Listener_Q26A_with_Andrew.mp3
Category:general -- posted at: 9:00am EDT

As is customary on every 10th episode, Jason Hartman, your host, takes on a non-financial topic as he talks with Dr. Geoffrey Simmons, a physician who is Board-certified in Internal Medicine and Disaster Medicine. He has a B.S. in Zoology and has completed the course work for a Masters degree in Microbiology.

As a Fellow with the Discovery Institute Center for Science and Culture, he has studied the theory of evolution for over forty years. For thirty of those years he was an ardent supporter of Darwinian ideas. Now, however, the data supporting this theory scientifically untenable. As of this date, his seventh book, What Darwin Didn’t Know, is in its sixth printing and his eighth book, Billions of Missing Links, is in its second printing. Both books show how the incredible complexity of the human body and all other living beings cannot have come about through evolution. Some reviews:

“A well-researched and open-minded analyses.” — Stephen Meyer, PhD, Dir. of the Center for Science and Culture, Discovery Institute

“You’ve posed all those “break-down complexities” that Darwin worried about, and you’ve done it with flair!” — Jody Sjogren, Illustrator for Icons of Evolution

A wonderful book…clear and accessible to the nonspecialist — John Patrick, M.D., Prof. of the History of Science, Medicine and Faith, Augustine College, Ottawa, Canada.

Geoffrey Simmons is a rarity (referring to the types of books written). His book holds evolution, as he sees it, to the standard of scientific observation and finds evolution lacking — Dan Hays, Salem Statesman Journal, May 20, 2007
Dr. Geoffrey Simmons focuses on the millions of structures and systems on the Earth that came about all at once, entire…with no preceding links, no subsequent links, no “sideways” links.

To illustrate, he surveys examples like…

the hummingbird and its circulatory system
insects and insect–eating plants
the role of the thousands of species of viruses
chemical signals and the sensory apparatus that detects them
the self–regulating capacity of the Earth’s ocean/air/soil system
It’s clear: Nature containsonly leaps, not links. Only the intelligence and purpose of an all–powerful Designer can explain the intricate creatures, connections, and “coincidences” everywhere.

We’ll be back to our usual investing, business and financial topics in the next episode #211. Be sure to join Jason and his team for the upcoming Phoenix Foreclosure Tour http://jasonhartman.com/store/events/ where we’ll explore distressed property / REO opportunities and enjoy first-class accommodations at The Ritz Carlton Hotel in The Biltmore area of Phoenix / Scottsdale, Arizona.

Direct download: CW_540_FBF.mp3
Category:general -- posted at: 2:00pm EDT

It’s unclear exactly why Memphis is a rental property owners dream investment city but it is. Vacancy rates are consistently 5% or less year over year. Even when people are qualified to purchase a property they insist on renting. Add to that the dynamic nature of this culture filled town and major distribution companies who do business there and you get a perfect bluesy mix of properties and opportunities for your next investment. 

 

Key Takeaways:

 

Jason’s Editorial:

[1:42] Chicago property tour 7/15 -7/17

[2:58] 3 cities now that Detroit is confirmed

[4:12] Voicemail from Roger about managing your property managers

[6:10] An entire episode on managing your manager coming

[6:40] Search Jasonhartman.com with the keyword property manager

[8:00] CNBC video - Rents rising and supply is constrained

[9:59] Let’s get in the game and take action

 

Ryan from Memphis:

[11:57] Invest in Memphis - it’s great for rental properties

[13:10] Is Memphis saturated with investors?

[13:48] Why you should love Memphis as a rental property buyer

[14:44] Vacancy rates are 5% or less

[16:00] The reasons tenants rent 

[17:03] Rent a nicer place than they can own 

[20:02] Society is changing towards not planting roots

[20:48] Time Magazine home ownership article

[22:56] People are looking for dynamic, cultured cities

[24:53] Different levels of property available in Memphis

[26:38] The evaluation process for finding properties

[29:12] The government assisted housing dilemma

[32:00] The benefits of a section 8 housing tenant

[34:45] Ryan’s unique selling proposition

[36:24] When choosing which markets are best, Memphis is growing

 

Mentions:

La Banque - Chicago hotel of choice - $131 per night - (708) 798-6000

Jasonhartman.com

 

Memphis Housing Authority

Direct download: CW_539_Memphis_Market_Profile.mp3
Category:general -- posted at: 2:51pm EDT

A good business is one that cannot be outsourced and people will always need a place to live. This is why Jason focuses on income properties when recommending creative wealth strategies for you. He keeps abreast of interest rates, taxes and credit based assets so he can help you achieve the financial future you deserve. Jason’s guest Mark Kohler CPA  just completed his third book and offers 28 tips for tax planning and asset protection. He talks about S corps, LLC’s and Obamacare. He wants everyone to have an exit plan for their life through a versatile revocable living trust because as much as you may not want to admit it we are all mortal. 

 

Key Takeaways:

 

Jason’s Editorial:

[1:25] Teaching a great real estate course

[2:26] Monetary and fiscal policy definitions

[3:42] Real estate and income property differences

[4:29] The easiest type of real estate to own is a parking lot

[6:00] Real estate in the average U.S. city is 40% parking

[7:32] Financial Independence Day Counseling

[7:54] Chicago and Grand Rapids property tour

[8:33] Self driving cars could eliminate parking needs

[9:42] Credit based appreciation

[10:04] Interest rates and the math of relativity

[10:56] Find a mortgage calculator and do this math 

[12:11] The golden opportunity of low interest rates

[12:54] If the money supply declines credit based assets are affected more

[13:35] Inflation induced debt destruction

[14:12] Multiple tax advantages

[15:04] Learn about land contracts

 

Mark Kohler interview:

[16:45] 28 game changing strategies for tax and asset protection

[17:10] The first book was about people who get taken advantage of

[17:30] The second book was a story

[18:00] The 3rd book brings it all together

[18:45] 3 Tips for planning

[19:30] Know the difference between ordinary income and passive income

[23:00] A real life example of Obamacare related requirements

[24:14] The 3 costs related to Obamacare

[25:00] Income property is a proven tax favored asset class

[25:50] Healthcare strategies

[26:45] The solution is the S corporation for multiple sources of income

[28:24] LLC do not save taxes

[29:17] The Kohler Payroll Matrix

[30:37] You do not need an LLC for every rental

[32:16] Know your properties and find a balance

[35:10] Register as a foreign LLC in every state that you have property

[36:44] Don’t forget about the legal and tax planning that needs to be done

[37:32] How do these things fit into your estate plan? 

[38:52] Revocable Living Trust

[42:20] A real life “Do not resuscitate” experience 

 

Mentions:

Financial Independence Program 

Chicago/Grand Rapids Property Tour 

Uber

Lyft

Lawyers are Liars

The Tax and Legal Playbook 

MarkJKohler.com

 

Direct download: Episode-Removed.mp3
Category:general -- posted at: 3:55pm EDT

Join Jason Hartman as he talks with guest, Steve H. Murdock, former Census Bureau Director and current Professor of Sociology at Rice University in Texas, about the demographic shift taking place in the U.S. today .  The face of Texas has been shifting dramatically, not just from immigration, but in-migration and natural increase.  Steve argues that the Texas of today is the U.S. of tomorrow. 

Steve and Jason discuss the changes in population, as well as the factors influencing these changes, and the potential effect of this current demographic shift throughout our country.

Steve H. Murdock is the Allyn R. and Gladys M. Cline Professor of Sociology at Rice University. He previously served as Director of the U.S. Bureau of the Census having been nominated for the position by President Bush and unanimously confirmed by the U.S. Senate in 2007 and serving until the change in administration in January of 2009. Prior to his appointment at Rice, he was the Lutcher Brown Distinguished Chair in Demography and Organization Studies at the University of Texas at San Antonio (UTSA) and the Director of the Institute for Demographic and Socioeconomic Research.  Before UTSA, Murdock was a Regents Professor and Head of the Department of Rural Sociology at Texas A&M University.  He was also the official State Demographer of Texas.  He was appointed to this position by Governor Rick Perry and was the first person to occupy this position. Dr. Murdock earned his Ph.D. in demography and sociology from the University of Kentucky and is the author or editor of 13 books and more than 150 articles and technical reports on the implications of current and future demographic and socioeconomic change. 

He is the recipient of numerous honors and awards. These include the Faculty Distinguished Achievement Award in Research from Texas A&M University, the Excellence in Research Award and the Outstanding Rural Sociologist Award from the Rural Sociological Society, The Distinguished Alumni Award from North Dakota State University and the Distinguished Alumni Award from the Department of Sociology at the University of Kentucky.  He was named one of the fifty most influential Texans by Texas Business in 1997 and as one of the twenty-five most influential persons in Texas by Texas Monthly in 2005.  He is a member of the Phi Beta Kappa, Phi Kappa Phi, and Phi Eta Epsilon national honor societies.

Direct download: CW_537_FBF.mp3
Category:general -- posted at: 3:02pm EDT

The debt crisis in Greece is proof that Socialism doesn’t work. Can you imagine camping out in front of an ATM only to be turned away? We need to be responsible. Socialism has never worked. Investing in long term, stable rental properties is the proper way to create and grow wealth. Make a decision on a material fact with us. Should the family have been notified about a stalker before they bought a house? And we go way back to the 1970’s when Jimmy Carter warned that the world’s oil was almost gone and the U.S. should invest in new technologies. Is the oil gone and do new energy sources have environmental sins of their own?

 

Key Takeaways: 

 

Jason’s Editorial:

[1:33] Thanks Mandy M. for the feedback! It’s appreciated. 

[2:19] Tell the world what you think and give us a review on iTunes

[2:43] The epic Socialist disaster - Greece

[4:14] You can’t use Scandinavia as an example of Socialism working

[6:40] Chicago/Grand Rapids Property Tour 

[8:37] On the 3rd day we are going to Detroit, possibly

[9:44] What is a material fact?

[10:55] The creepy “watcher” oddball story

[14:27] Money back + interest? Is that fair?

[14:57] Specific performance ruling

[15:57] Factor in the opportunity cost 

[21:45] Does this fit into the mold of material fact?

[22:16] Use the voicemail function folks! 

[23:29] Good old Jimmy Carter - The Malthusian Concept

[25:19] The evil United States? Is our consumption of oil really evil? 

[26:26] New energy sources create their own set of problems

[27:47] People are a wonderful resource 

[28:37] Japan was built on work ethic and intellect

 

Guest interview:

Mark Kohler of KKOS interview is being moved to another episode. 

 

 

Mentions:

In Greece it’s not over even when an old lady faints at the ATM

Lawsuit: Bring me young blood

Leave us a voicemail today! 

 

Jason Hartman 

Direct download: CW_536_Jason.mp3
Category:general -- posted at: 2:42pm EDT

Mark Fleming is the Chief Economist for First American Financial Corporation. He has been a trusted voice with over 20 years of experience in the mortgage and property information business. Mark talks on the housing collapse, where the housing market is today, and why you should pay attention to the Millennial and Baby Boomer market.  

 

Key Takeaways:

[6:10] Jason does the math on a high-end property in a cyclical market versus a lower-priced property in a linear market. 

[12:00] Owning five diversified properties is much better than owning one expensive property.  

[17:45] If you want to be green, be a cash flow investor.

[20:05] Jason introduces Mark Fleming. 

[23:25] Before the recession, there was a lot of incentive to flip homes as oppose to buying a home to live in. 

[26:00] Texas, the Dakotas, and Oklahoma are considered the energy states and currently have a good real estate market. 

[28:40] Mark talks judicial versus nonjudicial foreclosures. 

[36:30] Pay attention to where Millennials want to live and where Baby Boomers want to retire. 

[45:00] Mark believes Millennials might marry later, but they will still have a high marriage rate. 

[47:50] We may see a major shift in housing when Millennials are in their mid 30s. 

[51:20] What should the home-ownership rate be? Mark believes 65% is the magic number. 

 

Mentioned In This Episode:

 

http://www.firstam.com/

Direct download: CW_535.mp3
Category:general -- posted at: 5:11pm EDT

Doug Brunt is the former CEO of Authentium and author of, “GHOSTS OF MANHATTAN.” In his new book, he transports readers back to the extravagant times before Bear Stearns collapsed, exposing a culture with boundless bonuses, where the company expense account was routinely used for bar tabs, visits to strip clubs, and worse. He even throws in some comical stories and describes some of them. Brunt offers a withering view of life on Wall Street from the perspective of an unhappy insider, run-down by the corrosive lifestyle which is jeopardizing his marriage, who is too hooked on the money to find a way out.

Brunt is married to FOX News anchor Megyn Kelly, who has helped him with his books. Brunt describes their relationship and why he gave up a lucrative career as an Internet security entrepreneur.

Find out more about Doug Brunt at www.douglasbrunt.com.

Direct download: CW_534_FBF.mp3
Category:general -- posted at: 11:09am EDT

Jason welcomes back Steve, an old co-host. Steve is currently working with HomeVestors as a house flipper and shares his experience on the show. Jason reminds the audience that what Steve does is actually a full-time business that you have to manage, which may not appeal to his more passive investor audience. We also learn from Steve on what the real estate market is like in Utah and if it's worth investing in it or not. 

 

Key Takeaways:

[1:30] Jason welcomes back his old co-host, Steve. 

[6:00] When you become a house flipper, you also become a legal aid and social worker. 

[8:00] Steve shares a story about a house he flipped. 

[19:30] Buying homes at a discount is an art.

[23:00] Jason and Steve talk about hypocritical celebrities. 

[28:30] House flipping is a business. What Jason does is an investment. 

[32:00] What's the real estate market like in Utah right now? 

[38:00] If you're located in Magna, Utah, please email Jason. 

 

Mentioned In This Episode:

 

The Big Short by Michael Lewis 

Direct download: CW_533_Jason_Steve_on_Flipping_Ugly_Houses_with_HomeVestors.mp3
Category:general -- posted at: 2:50pm EDT

Laurence Kotlikoff is a second time guest to the Creating Wealth show and has a lot to share on the subject of economics and Social Security. Laurence Kotlikoff is a William Warren FairField Professor for Economics at Boston University and recently released a book entitled, Get What's Yours: The Secrets to Maxing Out Your Social Security. Laurence sits down with Jason to talk on the growing Social Security problem, the U.S. government's 210 trillion dollar time bomb, and what kind of economic environment we should expect in the next ten years. 

 

Key Takeaways:

[4:15] U-Haul is a good litmus test for migration trends. 

[9:25] Jason recommends reading The Untethered Soul by Michael Singer. 

[10:45] Look out for the informal Chicago property tour July 15th

[14:00] Jason welcomes Laurence Kotlikoff to the show. 

[14:55] How is Social Security sexist? 

[19:30] By waiting until you're 70-years-old, you'd be collecting a 76% higher Social Securities check. 

[25:30] The true fiscal gap the government is facing is around 210 trillion dollars. 

[30:15] How does the U.S. debt compare to the rest of the world? 

[39:55] Should we expect an inflationary, deflationary, or stagnationary economy in the future? 

[43:50] Laurence encourages even the younger generation to the read his book, Get What's Yours. 

[45:40] ThePurplePlans.org is a website that shares details on how economists believe you can fix the economy. 

 

Mentioned In This Episode:

The Untethered Soul by Michael Singer

http://www.promover.org/

https://www.maximizemysocialsecurity.com/

http://www.kotlikoff.net/

 

http://www.thepurpleplans.org/

Direct download: CW_532_Laurence_Kotlikoff.mp3
Category:general -- posted at: 12:00pm EDT