Creating Wealth Real Estate Investing with Jason Hartman

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.

Key Takeaways:

[6:44] Jason's latest book recommendations

[7:55] One huge benefit we get as real estate investors is optionality

Thomas Interview:

[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

Website:

www.JasonHartman.com/Properties

Direct download: CW_1293_Thomas_CPI.mp3
Category:general -- posted at: 5:00pm EDT

Jason Hartman talks with Adam about the definition of a recession and what impact globalization may (or may not) have on the future of recessions. They also explore how the United States reacts to trade situations and what impact that has on markets such as the ones we invest in.

Key Takeaways:

[2:55] With a recession potentially looming, you need to stress test your portfolio, which is something we'll be doing at Profits in Paradise

[8:09] Some of the old recession indicators aren't as reliable anymore because causes of GDP have shifted over the years

[10:48] A strong manufacturing base makes local economies take much longer to shift

[16:08] Why do they say that de-globalization could lead to more recessions

[19:40] It's important to look at states the same way we do countries to see which states are the friendliest to businesses

[24:41] The hidden benefits of self-management

[27:13] This year's wealth simulation will really delve into how Refi Til Ya Die really works

[26:00] The hidden benefits of self-management

[28:32] This year's wealth simulation will really delve into how Refi Til Ya Die really works

[32:54] A Baltimore, MD property available

Website:

www.JasonHartmanLive.com

www.JasonHartman.com/Properties

Direct download: CW_1292_Recession.mp3
Category:general -- posted at: 6:10pm EDT

Today focuses on Commandment #13: Thou Shalt Understand the Theory of Relativity As It Applies to Real Estate Investing.

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_Commandment_13.mp3
Category:general -- posted at: 12:00pm EDT

Today's Flash Back Friday comes from Episode 952, originally published in February 2018.

Jason Hartman, his mom Joyce, and Drew finish up their long talk about property management practices. This time Drew throws some questions toward Joyce about how to walk the line with a tenant while still keeping a good personal relationship with them, tenant retention, and Jason's theory on the pinball effect that can happen when you own enough places in one market.

Key Takeaways:

[2:01] Occassionally you may have difficulty with insurance when you self-manage

[2:56] The riskiest part of self-managing is the tenant turn

[6:34] Join Jason on a trip to Sweden or come to San Jose for the next JHU event

Jason's Mom & Drew Interview:

[9:34] One of the nice things about not being near your investment properties is that you CAN'T go over and meet anybody

[11:56] How to retain tenants, and how to get rid of deadbeats

[14:16] Once you've formed a relationship with a tenant as a self-manager, is it awkward to raise the rent on them or enforce late fees, etc?

[18:38] When do you build the expectation of rent increases into the relationship?

[25:39] Why the hybrid management is the best system, and what to expect from your realtor helping you

[28:15] Do self-management styles change based on the type of neighborhood your property is in?

[31:46] Jason's pinball effect when you have enough properties in one market

Website:

www.JasonHartman.com/Properties

Direct download: CW_1291_Mom_Drew_2.mp3
Category:general -- posted at: 5:00pm EDT

Jason Hartman starts today's show discussing an article that explains how hard new construction starts are hitting various markets. They're down by over 80% in some markets and over 50% in a majority.

Then Jason talks with David Osborn, co-founder of Magnify Capital and best-selling author of Wealth Can't Wait: Avoid the 7 Wealth Traps, Implement the 7 Business Pillars, and Complete a Life Audit Today!, about making the conscious decision to be wealthy and how you can actually follow through on that decision while avoiding common pitfalls. They also discuss how absolutely vital the morning is to your life and how you can win the morning.

Key Takeaways:

[2:44] Home building is down more than 50% since before the Great Recession

[7:32] Chicago only has about 20% of the construction they had before the Great Recession

David Osborn Interview:

[15:40] Being wealthy starts with making a choice

[19:36] The mindset is critical but often overlooked

[23:49] When you become successful you eventually just have to learn to deal with being in lawsuits

[26:58] Do NOT hire someone just because you like them

[33:49] Miracle Morning Millionaires

[35:47] By 11am the world is coming at you and you're in reaction mode

Website:

www.DavidOsborn.com

Direct download: CW_1290_David_Osborn.mp3
Category:general -- posted at: 5:00pm EDT

Jason Hartman and Adamp take a deep dive into what GDP is and some of the plusses and minuses inherent to it. While breaking down a CNBC video explaining GDP they look at whether government spending should be increased, decreased, or left the same, how just because GDP is rising doesn't mean our economy is improving, and much more.

Key Takeaways:

[4:33] What Jason learned from a New York City bus driver

[10:26] The CEO of WeWork has stepped down, who helped show the importance of Commandment #3

[16:06] US GDP is 38% government spending

[21:02] Importance of looking at GDP rates and inflation rates

[26:40] The important relationship between income distribution and GDP

Website:

www.JasonHartmanLive.com

www.JasonHartman.com/Properties

Direct download: CW_1289_Adam_GDP.mp3
Category:general -- posted at: 5:20pm EDT

Jason Hartman and Adam start off today's show discussing the impact of Dodd-Frank on the US economy. The massive bill that was quickly pushed through in response to the Great Recession is still being sussed out, and it's possible some parts will never be fully enacted.

Then Jason talks with Richard Rahn, Advisor to former President George HW Bush and Chief Economist of US Chamber of Commerce for Ronald Reagan, about his thoughts on digital currencies and whether they will ever full grab hold in the United States with the power of the government. They also discuss Richard's time in politics and why he left the White House.

Key Takeaways:

[6:50] The world of fakeness

[13:05] Dodd-Frank gave the government the ability to audit loans being given to companies, but the volume of loans makes that virtually impossible to reliably do

[16:12] Credit default swaps and the Great Recession

[18:57] Property profile of a home in Merrillville, IN

Richard Rahn Interview:

[24:01] When Richard started being interested in what would eventually become cryptocurrency

[31:24] The government could target any one of us because most people are committing crimes they don't even know about. But going after encrypted peer-to-peer transactions would be impossible

[35:17] Why does Richard think Bitcoin won't be the answer?

[36:30] Richard's time in the Reagan and Bush administration

Website:

www.JasonHartmanLive.com

www.IGEG.org

Direct download: CW_1288_Richard_Rahn.mp3
Category:general -- posted at: 4:58pm EDT

Jason Hartman and his client, Rabbi Evan Moffic, are on the road today discussing two different investment philosophies. The first is the fox method, ping ponging between investments and always going for what's the hottest trend. Then there's the hedgehog strategy that has you focus on one thing and do it to the best of your abilities. After dissecting the pros and cons of those strategies it's time to investigate the abundance mentality and what good it can do us all in our lives.

Key Takeaways:

[4:26] The fox strategy vs the hedgehog strategy

[7:28] Fox's at least take action, but hedgehogs stay true to the investment philosophy that they know and understand

[11:53] Evan is branching out a little buying a new construction short-term rental, but he made sure it could still function as a long term rental if trying a new strategy didn't work out

[16:01] It looks like there will be 2 property tours at the upcoming Profits in Paradise

[17:11] Evan will be speaking at Profits in Paradise, discussing happiness and wealth

[21:04] Judaism believes that wealth brings with it a responsibility to give

[24:40] One of the things Evan doesn't like about the FIRE movement

Website:

www.JasonHartmanLive.com

www.JasonHartman.com/Properties

Direct download: CW_1287_Evan_Moffic.mp3
Category:general -- posted at: 5:00pm 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.

Today focuses on Commandment #12: Thou Shall Hold Thy Tenants Accountable.

Website:

www.JasonHartman.com/Properties

Direct download: CW_Bonus_Commandment_12.mp3
Category:general -- posted at: 12:00pm EDT

Today's Flash Back Friday comes from Episode 951, originally published in February 2018.

It's time for Jason Hartman to have a good, old fashioned discussion on property management. This time, however, there are THREE sides at the table.

In one corner is Jason's mom, who is an EXTREME do-it-herself self-manager. In another corner is Drew, who has always been with a property management company and isn't ready to step into the self-management world. And in the final corner is Jason, with his method of a hybrid model.

Listen in as these three discuss concerns, strategies, and tips for property management, no matter which road you decide to go down.

Key Takeaways:

[7:51] The hardest part of Jason's business is property management

[10:16] Drew's properties in Indianapolis were A builds, but after the Great Recession they're in C+ neighborhoods now

[13:05] Jason's hybrid self-management practice

[17:00] Where Jason's mom gets access to running credit reports and everything she needs to do to screen tenants

[21:58] The most important thing you need to communicate to your tenant about rent

[27:52] Property managers have inherent conflicts of interest

[29:48] How Joyce gets her property ready for the next tenant

[32:26] Questioning pricing can frequently lead to dramatic reductions in price

Websites:

www.JasonHartman.com/Photos

www.JasonHartman.com/Events

Direct download: CW_1286_FBF_Mom_Drew.mp3
Category:general -- posted at: 5:00pm EDT