Creating Wealth Real Estate Investing with Jason Hartman

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.

Key Takeaways:

[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

Website:

www.JasonHartman.com/Properties

www.FreeCourt.com

The PropertyCast

Direct download: CW_1035_Adam_Schroeder2.mp3
Category:general -- posted at: 4:55pm EST

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.

Key Takeaways:

[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?

Websites:

www.JasonHartman.com/Properties

www.WeGoLook.com

www.NoLo.com

www.RocketLawyer.com

www.Buildium.com

Direct download: CW_1034_Adam_Schroeder1.mp3
Category:general -- posted at: 5:38pm EST

Jason Hartman starts today's episode from Germany, on his way back to the land of capitalism, and he couldn't be happier. After nearly a month in Europe seeing the effects of socialism, Jason's ready to get back to the land where people are more motivated and innovation is more apparent. When governments get involved in picking the winners and losers, nothing good comes out of it, and Jason wants to see America avoid the fate of Europe.

Then Jason finishes his interview with Dr. Nima Sanandaji, originally begun in episode 1028. The two wrap up the interview discussing where the ideas for Adam Smith's "Invisible Hand" really came from, how the Nordic society actually ended up being socialist (and why it doesn't work in the places it's being tried now), and the dangers of government growth.

Key Takeaways:

[2:48] Things in Europe are smaller and not as good of quality. We shouldn't become more like Europe, Europe should become more like the USA

[5:54] The government needs to get out of the business of picking winners and losers

Dr Nima Sanandaji Interview:

[8:20] Adam Smith's "Invisible hand" had been described in China and the Middle East thousands of years earlier

[11:36] Capitalism: the most successful "religion" of all time?

[14:56] The poor immigrants who left the Nordics for America have descendants that are much better off than those who stayed

[18:55] Governments can't shrink down. Once they bloat they collapse under their own weight

[21:57] The Western world needs to learn from history and go back to free market economic policies with minimal government

Websites:

www.JasonHartman.com/Events

www.Capitalism.global

Direct download: CW_1033_Nima_Sanandaji_2.mp3
Category:general -- posted at: 8:20pm EST

Today's Flash Back Friday comes from Episode 653, originally published in March 2016.

Jason’s mom will be attending the upcoming Venture Alliance Mastermind trip to Jekyll Island. She decided to prepare herself by reading the updated version of The Creature from Jekyll Island again. She and Jason review sections of the book and discuss the insanity which is the Federal Reserve and how the entity came to be. You are invited to join Jason and his mother on the Jekyll Island trip as a Venture Alliance member or as a guest. If you attend you will experience a piece of American financial history and possibly have your coffee disturbed by a famous hotel ghost.

Key Takeaways:

[3:47] Jason’s mother’s assessment of the book “The Creature From Jekyll Island” and the history of the Federal Reserve. 

[12:27] The ghosts of the Jekyll Island hotel do more than drink the guests coffee, they pick pockets too.

[18:28] Past podcasts guests, Chris Martenson and Bill Bonner agree, the Federal Reserve system is convoluted.

[22:38] We all easily pay 60% or more of our income to some sort of tax.

[32:36] Listeners must see the 99 Homes, The Big Short and Life and Debt documentaries.

[34:11] The government can tax people through taxes or inflation, which is the hidden tax.

[40:06] When you invest in income property you align yourself with the Federal Reserve.

Websites:

Jason Hartman

Venture Alliance Mastermind

Direct download: CW_1032_FBF_Jason_Mom.mp3
Category:general -- posted at: 11:52am EST

Jason Hartman talks with Patrick Parry, Orange County realtor & former investment counselor, about what signs Pat is seeing in the Orange County market that give him pause when it comes to the housing market. Days on market have escalated (some rather significantly) in every price bracket, and inventory continues to increase.

The two also discuss commercial real estate, and how it's a totally different game (with significantly less room for error) than residential real estate.

Key Takeaways:

[5:17] Signs the housing market is cooling?

[7:29] Time on market has doubled as inventory increases

[13:42] The difference in the landlord/tenant relationship of residential vs commercial real estate

[18:58] Jason has been flat out lied to by commercial landlords

[21:14] You do not have protections in the commercial real estate world, you better have good lawyers and great research

[23:25] Commercial investors have a very high tolerance for loss due to vacancy

[29:07] The increase in home days on market based on sales price

[33:01] People are always looking in the rear view mirror when it comes to markets, except sellers, they're often banking on the greater fool theory when they price their wares

Website:

www.PatParryHomes.com

Direct download: CW_1031_Pat_Parry.mp3
Category:general -- posted at: 12:59pm EST

In today's intro Jason Hartman looks at a few signs in the real estate market that aren't so rosey, as well as adjusting the Brady Bunch house for inflation and seeing how real estate holds up against it (and why linear markets are the better bet for steady appreciation).

Then, in today's 10th episode, Jason talks with Dr. Robert Whaples, Professor and Chair in the Department of Economics, Wake Forest University and co-editor and managing editor of The Independent Review. The two discuss the current Pope's world view and the nature of the Catholic church today.

Key Takeaways:

[2:21] Are there signs of upcoming trouble? There's definitely been a slow down in the higher end markets

[6:11] The Brady Bunch house is for sale, what's it selling for (and compared to what)?

[10:14] Linear markets give you more consistent appreciation than cyclical markets

Dr Robert Whaples Interview:

[14:17] What is Pope Francis' world view?

[18:42] How the economy is connected to the environment in the Pope's world view

[24:21] Do we need environmental regulations and taxes?

[26:08] Have we just exported our pollution?

[31:24] Where does the Catholic church come in on the uneven playing fields of markets and oligarchies

Website:

www.Independent.org

Direct download: CW_1030_Robert_Whaples.mp3
Category:general -- posted at: 12:29pm EST

Today's Flash Back Friday comes from Episode 665, originally published in April 2016.

Just last year Greg Saylor was a corporate software engineer looking for a reliable investment strategy. He found the Creating Wealth podcast and listened during his long commute. He decided to pick up the phone and call one of Jason’s investment specialists. It’s now six months later and Greg has six income properties earning him $4000.00 in monthly income. His due diligence partnered with the extensive data resources available on JasonHartman.com have allowed him to get a step closer to financial freedom. 

Key Takeaways:

Jason’s Editorial:

[4:01] What is your motivator? Do you expend more energy to conserve than to gain?

[12:39] Hartman Education is having a big 2-week sale! 

Greg Saylor Guest Interview:

[18:57] Was it the Creating Wealth podcast that got Greg interested in real estate investing?

[26:29] The acquiring of the properties had the most components, everything else is pretty straightforward. 

[27:49] Greg shares the details his first income property deal including the flaws.

[35:53] A certain percentage of risk is acceptable as long as you have a solid portfolio.

[40:06] Property taxes are one factor which is that varies greatly from market to market.

[45:18] Some rules for new investors to follow are to plan for additional expenses, be conservative on your numbers and have a reserve fund.

[48:07] The debt to income ratio is an important factor in financing.

Websites:

Jason Hartman

Hartman Education

Property Tracker Software

Direct download: CW_1029_FBF_Greg_Saylor.mp3
Category:general -- posted at: 3:56pm EST

Jason Hartman starts today's episode from Naples, discussing how, despite what you may think, the demise of America is greatly overstated when you start asking the question "Compared to what?". He also brings a morsel of hope to real estate investors, as housing inventory is showing signs of increasing and home owner equity is at an all time high (but fewer owners than ever are stripping that equity).

Then, in part 1 of the interview, Jason talks with Dr Nima Sanandaji, author of the new book The Birthplace of Capitalism - The Middle East, about how capitalism originally began in what is now Iran and Syria, and how the golden age of the Middle East was during the times of capitalism.

Key Takeaways:

[1:46] Think the US is in decline? Well, compared to what? Because Europe isn't doing that great either

[7:41] Keep everything in perspective when you think your problems are huge

[13:00] Inventory could increase a bit in the near future

[16:03] Home owners have an estimated $5.8 trillion in accessible home equity, but fewer are taking cash than in previous eras

Dr Nima Sanandaji Interview:

[19:16] Birthplace of capitalism (the original form) was in what is now Iraq and Syria

[22:36] The golden ages of human civilization in China and India was driven by capitalism

[26:33] The ancient Persians were very free market oriented

[29:52] The irrigation for the Middle East was paid for by farm collectives, not the government, spurred on by strong private property rights

[33:27] Cyrus the Great believed the government's only role was to maintain private property and voluntary contract

Website:

www.JasonHartman.com/Properties

www.JasonHartman.com/Events

www.Capitalism.global

Direct download: CW_1028_Nima_Sanandaji.mp3
Category:general -- posted at: 6:36pm EST

Jason Hartman is joined by Venture Alliance member Carmen today in Naples, as the two discuss the importance of music on society (and why it might be more important than monetary control), why complaining is actually important, and some good book recommendations for those interested in learning more about the economy and real estate.

Jason also explores the current single family rental demand and what the demographics are looking like for the next 10 years.

Key Takeaways:

[2:50] North Korea is sitting on $6 trillion of mineral assets

[8:07] Give Jason control of the music and he cares not who controls the money or makes the laws

[11:46] You have to be a complainer when people wrong you

[15:31] Some good books Jason recommends

[20:44] No place on Earth or time in history has big, intrusive, high tax, government burden made life better for citizens

[25:02] Single family demand: 57% of renters are renting single family houses

Website:

www.JasonHartman.com/Properties

Profits in Paradise

Direct download: CW_1027_Jason_Hartman.mp3
Category:general -- posted at: 11:47pm EST

Today's Flash Back Friday comes from Episode 785, originally published in January 2017.

During today’s episode, Jason shares his appreciation for the ability to self-manage rental properties and the dis-intermediation of single family home sales. The Chief Product Officer for Key Please, Adam Lorentzen joins Jason to describe the sought after service of landlord free, self-showings of rental properties. The Key Please business model focuses on automating the self-management process for owners as well as making the process as easy as possible for renters.  

Key Takeaways:

[1:34] Self-managing a property from a distance is possible

[4:16] Wall Street Journal article “Blackstone Wins Fannie’s Backing for Rental Home Debt”

[7:20] President Trump has a lot of energy and will be good for the American economy

[11:21] We will soon see the easing of landlord problems

Adam Lorentzen Guest Interview

[16:05] Key Please helps owners automatically self-manage their properties with 3 tools

[21:33] Adam is surprised by the number of users embracing the Key Please service

[23:42] Adam describes the process for the renter and the property owner

[29:10] The simple hardware has a deeper level of security than wifi or cell-based systems

[31:56] People who view the properties can provide anonymous feedback

[33:20] This service is for property owners who want flexibility in how they manage their properties

[36:51] Key Please wants to assist small property owners and renters in the near future

Website:

www.JasonHartman.com/Properties

www.Twitter.com/AdamElevate

Direct download: CW_1026_FBF_Divyesh_Panchal.mp3
Category:general -- posted at: 4:00pm EST