Accredited Income Property Investment Specialist (AIPIS) (general)

In the early 1980s Seth Merrin was an intern on Wall Street who saw ways the industry could change for the better. His first startup was an order management software that asset managers around the world use. He later created the company Liquidnet Holdings that allows institutional investors to trade large blocks of stock.

Jason Hartman caught up with Seth to talk about his newest book, The Power of Positive Destruction, and how business owners can take ideas from other industries and disrupt theirs.

Key Takeaways:

[1:01] The premise for the Power of Positive Destruction

[3:05] Taking things from one successful industry, and applying them to your different industry, can provide huge boons

[5:50] The positive destruction created by companies like Uber, Lyft, AirBnB, etc

[9:14] The art and science of launching a company

[12:39] How Seth applied the principles from his book on his own companies

[16:20] Whether Wall Street is swinging back toward being an institutional game, and how Seth's platform plays in that

[21:18] The idea of corporate responsibility, and how the proceeds from the book sales are going to help house the orphans of the genocide in Rwanda

Website:

www.PositiveDestructionBook.com

www.LiquidNet.com

Direct download: AIPIS_200_Seth_Merrin.mp3
Category:general -- posted at: 9:46am EDT

Elisabeth and Jason finally get back together to talk about what's going on in the world of real estate and inflation right now. They discuss some linear, hybrid, and cyclical markets, as well as the influence of foreign investors in the US real estate landscape.

Key Takeaways:

[1:01] What Jason learned on his 7 week vacation/trip to Europe

[5:03] The patterns of countries like Japan and the importance of demographics

[9:28] Whether "this time it's different" is at all applicable in this cycle, or if it's just wishful thinking before a bubble bursts

[13:36] Donald Trump is loosening the flood gates of money, and how it will effect real estate investing

[19:16] The impact that foreign investment has on US markets

[26:01] A lot of the invisible inflation can be seen is by the rise of self-service

[31:14] We've got to stop viewing minimum wage jobs as careers

Website:

www.JasonHartman.com/Events

www.WomenInvestingNetwork.com

Direct download: AIPIS_199_Elisabeth_Embry.mp3
Category:general -- posted at: 4:21pm EDT

Julia Spencer used to invest in long-term rental homes, but decided to switch over to short-term rentals a few years ago. She shares with Jason what she has learned over the years while self-managing the properties she owns, and gives some tips on how to avoid pitfalls that she experienced. The fears of an all consuming time commitment, never being able to go on a vacation, and having your home destroyed by guests are explored, and we find out the true income potential of short-term rentals.

Key Takeaways:

[2:43] Julia has about 30 listings for her 7 homes

[6:56] Julia's portfolio prior to starting short-term rentals

[9:40] The importance of the review system in the short-term rental market

[12:45] Julia started her short-term rental career by moving out of her own house and renting it out, and got rid of some of her long-term rental homes

[16:37] Short-term rentals and problems with neighbors

[21:10] Red flags (and green flags) for properties you're considering for short-term rentals

[25:38] What team members do you need in order to self-manage?

[31:11] Whether Julia has ever looked into using (or used) a property manager

[34:28] How Julia streamlines her operations

[38:08] A real life example of what kind of profits Julia makes on her properties

Website:

www.JuliaMSpencer.com

Direct download: AIPIS_198_Julia_Spencer.mp3
Category:general -- posted at: 8:35am EDT

In 2016 Jason was joined by Harry Dent, from Dent Research, to discuss the tax benefits you can get from moving to a US territory like Puerto Rico, some cyclical markets that are out of control, demographic problems around the world, inflation, and foreign investors in US real estate.

Key Takeaways:

[1:20] Harry's new home in Puerto Rico, and the tax benefits he can receive

[5:18] Vancouver real estate is out of control

[10:31] Japan's biggest problem is a demographic problem

[14:21] Previously Harry had predicted a drop in gold which hasn't happened, does he still believe it's going to go down or was he wrong?

[19:01] In a deflationary environment the only chance you have to make money is in yield, which can be found in linear markets with cash flowing properties

[24:22] Most foreign real estate investors are legally laundering their money out of their country

Website:

www.HarryDent.com

www.DentResearch.com

Direct download: AIPIS_197_Harry_Dent.mp3
Category:general -- posted at: 12:00pm EDT

Part 2 of Jason’s interview with Richard Duncan includes information about the what Richard believes will happen if the government doesn’t continue to intervene in keeping the global bubble afloat, how the government can get back to the black and why we are at a unique time in economic history.

Richard Duncan is Chief Economist at Black Horse Asset Management, the author of The New Depression: The Breakdown of the Paper Money Economy and The Dollar Crisis: Causes, Consequences, Cures. His Macro Watch video series can help individuals to clearly understand how the financial system really works. Mr. Duncan previously held the position of economist for the World Bank and the International Monetary Fund.

Key Takeaways:

[1:00] Once the US moved from a gold backed monetary system to paper money system the rules changed.

[10:35] Who has benefited most from a globally-based economy?

[13:16] The global bubble is inflated by government policy.

[16:15] The combination of printing money and globalization makes this a unique time in history.

[21:33] How Richard Duncan believes the US can pull itself out of debt.

Website:

www.Blackhorse.com.sg

The New Depression: The Breakdown of the Paper Money Economy

The Dollar Crisis: Causes, Consequences, Cures

Direct download: AIPIS_196_Richard_Duncan.mp3
Category:general -- posted at: 12:00pm EDT

This week’s episode is an enlightening economic conversation you don’t want to miss. Jason welcomes Richard Duncan back to the show for the first of a two-part conversation about what is driving the economy and which mistakes could catapult the US into a recession.

Richard Duncan is Chief Economist at Black Horse Asset Management, the author of The New Depression: The Breakdown of the Paper Money Economy and The Dollar Crisis: Causes, Consequences, Cures. His Macro Watch video series can help individuals to clearly understand how the financial system really works. Mr. Duncan previously held the position of economist for the World Bank and the International Monetary Fund.

Key Takeaways:

[1:11] Richard Duncan has a unique, insider’s view of world economics and FIAT money.

[6:16] In the US, when credit grows less than 2% the US goes into recession.

[11:27] Creditism is the new Capitalism.

[13:47] Looking back at the policies which saved the world economy in 2008.

[19:45] It’s a very sensitive moment in the economy as the Fed is considering reversing quantitative easing.

[23:37] Globalization has changed the way the economic game is played.

Website:

www.Blackhorse.com.sg

The New Depression: The Breakdown of the Paper Money Economy

The Dollar Crisis: Causes, Consequences, Cures

Direct download: AIPIS_195_Richard_Duncan.mp3
Category:general -- posted at: 10:40pm EDT

Bubbles have come and gone throughout history. One area expands too much and crashes, but there are usually other asset classes that are insulated from the bust.

But what if it's an everything bubble? What if real estate, stock markets, commodities, and everything else is in a bubble? What can you do in that situation?

Jason Hartman talks with Mish Shedlock, economist and investment advisor at  SitkaPacific Capital Management, about what's going on right now and where you may find some decent investments amidst the bubbles.

Key Takeaways:

[3:12] Mish's Rule of Progress

[10:28] The Shiller P/E Ratio Chart and what it says about the market today

[12:13] The Buffett Indicator

[16:08] The Mish Shedlock investing thoughts for right now

[19:46] How asset inflation is leaving investors behind

[24:12] Some real estate price examples on the East coast that show the dangerous bubble we're probably in, and how policies are set up to aid the rich in their wealth creation

Website:

www.MishTalk.com

www.MishMoments.com

Direct download: AIPIS_194_Mish_Shedlock.mp3
Category:general -- posted at: 3:47pm EDT

Income generating real estate is the most historical proven asset classes in the world. Jason talks with Reichen Kuhl, CEO and founder of LeaseLock, about his program for landlords. LeaseLock is designed to identify rent payers and protects landlords from tenants who don't pay rent.

Key Takeaways:

[1:30] LeaseLock is an insurance policy a tenant will pay the rent.

[5:07] How exactly does the LeaseLock know who will be a rent payer?

[10:42] Insurance industries are able to insure people differently in spite of Fair Housing laws.

[12:49] The cost is LeaseLock is 7% of the full lease value of the rental unit.

[16:05] Miscellaneous information about LeaseLock as a business.

Website:

www.LeaseLock.com

Direct download: AIPIS_193_Reichen_Kuhl.mp3
Category:general -- posted at: 12:56am EDT

Jason Hartman welcomes William Cohan, New York Times columnist, special correspondent for Vanity Fair, former contributor to Bloomberg View, and author books such as Why Wall Street Matters, The Last Tycoons, and House of Cards.

William tells Jason his views on the Trump administration, why Donald has had a hard time draining the swamp and who really is to thank for the low unemployment rate and the steady economy.

Key Takeaways:

[1:13] The Trump administration, leverage and cleaning out the gears of the machine that is the US economy.

[7:24] A grand bargain with Wall Street would mean revamping much of its incentive system.

[13:40] Draining the swamp is harder to do than it looks.

[13:23] What we should expect out of the economy and employment.

Website:

www.WilliamCohan.com

Direct download: AIPIS_192_William_Cohan.mp3
Category:general -- posted at: 10:24pm EDT

Neighborhoods throughout America are more segregated than ever, and a lot of people don't realize that governmental action is a big reason why. Richard Rothstein is author of The Color of Law: A Forgotten History of How Our Government Segregated America, and he tells Jason about how laws kept certain groups of people in certain areas of society, and how it still resonates today. Richard also tells Jason some pretty simple rule changes that could spur integration, and more affordable housing in general, throughout the country.

Key Takeaways:

[1:27] The government's involvement in the segregation of our neighborhoods

[3:58] How governmental actions created segregated suburban communities like Levittown, NY and Lakewood, CA

[7:27] The FHA would only guarantee loans to developers if they promised not to sell homes to African-Americans

[10:24] The Fair Housing Act of 1968 didn't actually solve any problems because the home values had become unaffordable for working class families

[19:08] Jason's take on "Environmental Racism"

[23:12] There has been some recent growth of African-American suburbs, but not integrated suburbs

[27:07] Richard's take on Ben Carson as head of HUD & Section 8 housing

[30:39] How Section 8 housing re-enforces segregation and keeps people out of middle class neighborhoods, while allowing landlords to raise their rents

Website:

www.EPI.org

Direct download: AIPIS_191_Richard_Rothstein.mp3
Category:general -- posted at: 8:33am EDT