Creating Wealth Real Estate Investing with Jason Hartman (general)

Jason Hartman talks with Peter Wehner, author of Wealth and Justice: The Morality of Democratic Capitalism and Vice President & Senior Fellow at the Ethics & Public Policy Center, about what attacks are currently being done against democratic capitalism and what we can do about them as a society. The two also explore the potential ramifications for capitalism being done by President Trump.

Key Takeaways:

[4:35] Is Democratic Capitalism the most moral system out there?

[7:04] Capitalism correctly accounts for human nature

[10:25] The ideas of Karl Marx have been probably the most consequential in economic history

[13:38] The idea that the government has the moral high ground

[16:55] What does Peter mean with the saying "The death of politics"?

[20:41] Peter's concern about Trump's policies

[28:48] What is The Death of Politics about?

Website:

Ethics & Public Policy Center

Wealth and Justice: The Morality of Democratic Capitalism

Direct download: CW_1285_Peter_Wehner.mp3
Category:general -- posted at: 5:00pm EDT

Jason Hartman and Adam discuss several issues in today's show. The first one is the news that the average FICO score is at an all time high. This is due to several factors, but the underlying facts about the credit rise show some very good news for our economy. The two also discuss a new credit scoring on the horizon that might help more people get credit and allow those who make strategic defaults able to get loans sooner.

After playing another of the 5 Year Plan videos, Jason and Adam dive into an event in France that shows the creep of what employers are responsible for, as well as a new California law that is aimed at companies that employ freelancers. The two have differing takes on the law, tell us yours!

Key Takeaways:

[4:07] Jason has been researching an investment vehicle that might be better than the 1031 Exchange and he'll discuss it at the upcoming Profits in Paradise

[7:11] Consumer spending seems to be more in line with wages these days

[11:51] They're creating a new way to create credit scores with more data points

[15:39] Credit management isn't just the ability to repay

[19:29] Jeff's 5 Year Plan for retirement

[26:20] How employers are being hampered even more with a ridiculous event in France

[31:48] California's new law about independent contractors could have some big ramifications

[34:15] We need to divorce health care from employment

Website:

www.JasonHartmanLive.com

www.JasonHartman.com/Contest

Direct download: CW_1284_FICO_Gig.mp3
Category:general -- posted at: 5:00pm EDT

Jason Hartman starts today's show discussing some good news for real estate investors in the Chicago area, as well as why investors in California should actually be thankful for their current tax situation.

Then Jason talks with Rob Stephens, co-founder of Avalara MyLodgeTax, about whether the short-term rental market is oversupplied and what the impact of institutional investors is doing to the marketplace as a whole. They also discuss some of the tax implications of running short-term rentals.

Key Takeaways:

[1:18] Good news for investors in Chicago

[7:34] Jason put an offer down for a short-term rental property, but make sure you're not violating Commandment #21 to avoid manias

[10:15] Tech companies are playing by different rules, so it's nice to see them being investigated

Rob Stephens Interview:

[13:59] Is the short-term rental market oversupplied?

[17:17] How will short-term rentals hold up in the next economic downturn?

[21:26] What has the increased usage of short-term rentals done to the timeshare market?

[22:43] The way institutional investors are getting involved in short-term rentals

[27:22] Tax compliance

[30:30] How much do room/tourism/hotel taxes differ across the country?

Website:

www.JasonHartman.com/Contest

www.MyLodgeTax.com

Direct download: CW_1283_Rob_Stephens.mp3
Category:general -- posted at: 5:00pm EDT

Jason Hartman and Adam examine some troubling trends in the real estate market these days. The first is the entire STATE of California, which is about to enact state wide rent control. This would be a massive shift in policy that will lead to other issues. Then there's the affordability issue that's been hampering house across the country for years. Jason and Adam examine what new trends that's causing in our present day.

And finally, don't forget to submit your video for the Empower Investor contest and win tickets to Profits in Paradise!

Key Takeaways:

[5:48] What rent control ACTUALLY does

[8:47] Rent controlled areas always run short on housing because nobody wants to build there because of regulations

[16:37] Adam Frenza's 5 Year Plan

[25:14] How the Trump administration is responding to rent control movements

[27:16] How rent control creates a scenario like runaway inflation, and the road out is a rough one

[29:29] People are starting to realize that affordability is a national problem

[32:39] Rental property is one of the only businesses where people will happily give you 40% of their income

Website:

www.JasonHartman.com/Contest

www.JasonHartman.com/Ask

Direct download: CW_1282_Rent_Control.mp3
Category:general -- posted at: 5:14pm EDT

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.

Website:

www.JasonHartman.com/Properties

Direct download: CW_Bonus_Guided_Visualization_13.mp3
Category:general -- posted at: 4:27pm EDT

Today's Flash Back Friday comes from Episode 494, originally published in March 2015.

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

Key Takeaways: 

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

11:20 – Jason answers a listener voicemail question. 

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

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

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

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

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

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

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

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

Mentioned In This Episode: 

The Next Economic Disaster by Richard Vague

www.Debt-Economics.org

Direct download: CW_1281_FBF_Richard_Vague.mp3
Category:general -- posted at: 5:00pm EDT

Jason Hartman talks with James Malinchak, #1 speaker coach & trainer and former Secret Millionaire on ABC (as well as this year's Profits in Paradise keynote speaker), about his time on the TV show as well as how people can take what they have, get the right mindset, and turn their life into a success. There are a lot of external forces on you in your life, but the response you have to all of them is strictly up to you.

Key Takeaways:

[7:27] James' experience on The Secret Millionaire

[15:36] What are the traits that lead someone who is poor to become successful?

[18:22] In every situation you can either have excuses or results, and excuses don't matter

[22:05] The response you choose to tell yourself after an event is all that really matters

[25:38] What James will be talking about at the upcoming Profits in Paradise

[29:34] It is an absolute necessity to invest in yourself

Website:

www.JasonHartmanLive.com

www.BigMoneySpeaker.com

Direct download: CW_1280_James_Malinchak.mp3
Category:general -- posted at: 5:00pm EDT

Jason Hartman talks today about the news he's seen recently while avoiding Hurricane Dorian. That includes problems with pooled assets, taking out the management fees and industries that are taking a turn for the worse that show potential weakness in the real economy.

Then Jason talks with Ellen Brown, author of Banking on the People: Democratizing Money in the Digital Age, about the money supply, specifically as it relates to what we refer to as "Quantitative Easing". Ellen explains how she believes we can solve some of society's woes and why she isn't on board with Modern Monetary Theory.

Key Takeaways:

[3:20] There are more lawsuits being filed over 401k fee abuse

[5:07] How much better would our economy be if insiders stopped skimming off the top?

[8:37] Workers under 35 are saying they're content with their pay

[11:56] The trucking and shipping industry is having some problems

Ellen Brown Interview:

[13:22] Quantitative easing needs to be changed to get money out into the real economy

[21:27] What Ellen means when she talks about "speculative markets"

[24:54] What does this mean for the average person?

[29:04] 80% of the population is carrying debt right now

[33:45] What is keeping Ellen from being a fan of MMT

Website:

www.EllenBrown.com

www.JasonHartman.com/Contest

www.JasonHartman.com/Properties

Direct download: CW_1279_Ellen_Brown.mp3
Category:general -- posted at: 5:00pm EDT

Jason Hartman and Adam begin the show discussing how half of the potential home buyers are currently throwing in the towel because they can't find a house in their budget. They're getting discouraged and losing hope for the future as well, causing a surge in renters. As an investment property owner, that puts you in a fantastic position.

Then Jason talks with Nely Galan, former president of Telemundo and author of Self-Made: Becoming Empowered, Self-Reliant and Rich In Every Way, about her journey up the corporate ladder and why she got in to investing in commercial properties. Nely took the dramatic step of leaving a solid, promising job in network TV to become employee #1 at a small startup called Telemundo. Nely explains how you can use your early jobs to prepare yourself for your own success and why sacrifice is necessary.

Key Takeaways:

[4:39] Since the Great Recession homebuilders have just ignored investment priced properties

[7:07] One reason why Jason doesn't like owning a primary residence

[11:31] The number of adults who think they'll buy a home in the next year has dropped from 24% to 12% since the start of 2018

Nely Galan Interview:

[14:44] Make mistakes on other people's dime so you can succeed when you go out on your own

[19:34] Being employee #1 can be worth it

[21:09] Every job you do teaches you something that eventually leads to mastery

[24:07] Why Nely wrote Self Made

[27:59] You have to be willing to sacrifice something to get something better

Website:

www.JasonHartman.com/Contest

www.BecomingSelfMade.com

Direct download: CW_1278_Nely_Galan.mp3
Category:general -- posted at: 5:00pm EDT

Jason Hartman and Adam start today's show with some more details about the exciting (and potentially very lucrative) contest that's going on called The Empowered Investor. You could potentially win a $3,000 cruise allowance and 2 tickets to Profits in Paradise!

Then Jason plays a clip from Frank Gallinelli where Frank explores two things that real estate investors need to understand, even if you don't use them every day: Net Operating Income and Capitalization Rates.

Finally Jason talks with Ray Hespen, co-founder and CEO of Property Meld, about how property owners can proactively close the problem areas that tenants and landlords have in order to retain the tenants longer. Learn how tenants like to be contacted in today's age, why they leave, and how Ray's software may be able to help you.

Key Takeaways:

[2:46] How to enter the Empowered Investor challenge and win free tickets to Profits in Paradise

[5:55] Deadline for submissions is midnight EST, Monday September 23, 2019

[7:35] Frank Gallinelli presentation on Net Operating Income and Capitalization Rates

Ray Hespen Interview:

[21:33] What issues does Property Meld address to help the tenant?

[23:27] Around 1/3 of all non-renewals are due to poor maintenance experiences

[29:02] The strongest correlation between maintenance requests and renewals is speed, hands down

[31:35] Renters nowadays want to be texted, not called

Website:

www.JasonHartman.com/Contest

www.PropertyMeld.com

www.RealData.com

Direct download: CW_1277_Ray_Hespen.mp3
Category:general -- posted at: 5:00pm EDT