Fri, 29 December 2017
Jason Hartman talks with Ryan Schellhous, founder at IndigoSpire CPAs & Advisors, about the new tax plan. The two start off with a 30,000 foot overview of the plan, then drill down into specific components of the plan as they figure out who is going to be helped and who may not see as much of a benefit under the plan. Ryan explains the biggest revenue raisers and "losers" under the new bill, and some of the most important pieces that will impact individual filers.
[3:36] The 30,000 foot overview of the GOP Tax Reform
[5:31] Will this tax reform create a repatriation of wealth back to the US?
[9:22] The move that mobilized the GOP forces toward tax reform
[11:19] The 2nd most important thing in the tax plan was the widening of tax brackets and lowering of rates for individuals
[13:29] The standard deducation has been increased, which should increase the number of simple 1040s being filed
[16:30] The single largest revenue raiser in the entire bill
[18:42] The change in mortgage interest deductions could cause a dampening in the high end real estate market
[21:12] The Alternative Minimum Tax isn't gone, but it's gone through an overhaul
[23:03] Pass-through businesses are getting a 20% deduction
[30:02] The accelerated bonus depreciation is enormous for real estate investors
[33:34] Changes to the 1031 Exchange rule
[37:37] The carried interest rules have changed as well, impacting the hedge fund managers trading techniques
[39:26] 529 plans (education plans for children) can now be used to pay for private schools
[40:00] Some tax changes that were EXPECTED but didn't end up happening
Fri, 22 December 2017
AIPIS 214 - Rich Dad Advisor Ken McElroy - Doing Property Management Right, Home Ownership Myth, Critical Investment Factors
Jason Hartman interviews Rich Dad Advisor Ken McElroy, who will be speaking at this year's Meet the Masters of Income Property in La Jolla. Ken tells Jason some of the most common mistakes he sees real estate investors make, why you can't just buy real estate any time you like, and some tips on how to do property management the right way.
They also discuss why the American idea of home ownership may be a massive myth, and two critical pieces to your investment success.
[4:44] The two common mistakes Ken sees in real estate investors
[6:47] Real estate is cyclical, so you can't just buy all the time throughout your career
[9:09] Ken's real estate business model
[10:48] Some tips on how to do property management right
[13:29] C class properties look good on paper, but in the long run, better quality properties bring better quality tenants
[20:16] It's important to treat all your residents as your customers
[21:42] Is the idea of home ownership a myth?
[23:55] Population growth and migration are two things critical to investment success
[27:14] The state of the states
Fri, 1 December 2017
We've all heard about crowdfunding sites like GoFundMe, KickStarter, and IndieGoGo. Now, however, there's crowdfunding for real estate deals, and AlphaFlow is one of the leaders in the industry.
Jason Hartman talks with Ray Sturm, co-founder and CEO of AlphaFlow, about how it all works, what kinds of deals AlphaFlow is interested in, and why some deals just don't work.
[2:44] What AlphaFlow is and how it works
[4:43] The regulations AlphaFlow has to follow
[7:28] In real estate crowdfunding you have to commit early
[11:32] Why AlphaFlow sticks with residential real estate
[14:43] The interest rates that borrowers are paying and how the loan breakdown works
[17:18] AlphaFlow stays away from refinancing deals
Fri, 24 November 2017
Vinney Chopra came into the United States with $7 in his pockets, and a work ethic to take him far in life. From selling encyclopedias door to door for 80 hours a week to now buying $25+ million apartment complexes, Vinney hasn't let anything stand in his way.
Listen in as Vinney tells Jason Hartman the story of his immigration, and how his investment career has unfolded.
[1:40] Vinney's immigration story
[4:31] Vinney first started earning his money by selling encyclopedias door to door
[8:18] The first home Vinney bought, and when he got into the rental property business
[11:53] Transitioning from single family homes to multifamily
[15:03] There are things you can do with multifamily investments that don't make sense for single family
[19:22] Portability has become the new norm for residents of apartments and single family homes
Fri, 17 November 2017
Jason welcomes client, Clay Slocum to the show. Clay is a millennial who currently has four properties in his real estate portfolio. Before buying his first property, Clay worked diligently with Oscar, his Investment Counselor, and a Local Market Specialist to play around with the numbers and he discovered his initial investment could grow exponentially. Clay shares his insights on the power of compounding interest, asset protection, and the Memphis market.
[2:33] Compound interest can be a powerful tool against inflation.
[8:15] Engineers take an analytical approach to investing.
[10:25] After 18 years, $100,000 grow to 14 million.
[17:46] Jason explains a Deferred Sales Trust.
[21:42] If you are on the fence about investing talk with an investment counselor.
[32:36] Asset Protection is a complicated subject you should speak with a lawyer about.
[42:01] Resources for tax help.
"Opportunity cost is a cost most people don’t evaluate."
"When it comes to asset protection most people think about the internal threat, not the external threat which can be costlier."
Sun, 12 November 2017
For this 10th Episode, Jason Hartman talks with author Dan Millman about his new book The Hidden School and his best-seller The Peaceful Warrior.
The two discuss Dan's spiritual search, the difference in Eastern and Western cultures, the difference between selfish and Selfish, and other philosophical questions.
[2:42] How Dan's new book fits in with his original book The Peaceful Warrior
[6:46] The importance of travel
[11:35] The power of media
[15:50] It's important to think of the more existential questions in life
[21:18] How understanding and understanding that we're all connected helps us
Fri, 3 November 2017
AIPIS 209 - Getting Over the Mental Hurdle of Self Managing Remote Properties with Cash Flow Guys Tyler Sheff
Tyler Sheff, host of the Cash Flow Guys podcast, invited Jason Hartman on his show to discuss the different market types in the USA, and got some tips on remote managing as well. Jason explains that the stigma behind buying homes sight unseen, as well as self managing properties a thousand miles away, has abated some due to the wonders of technology.
[2:12] What Jason learned when he owned properties in 11 states
[7:08] Whether Tampa is a linear, hybrid, or cyclical market
[11:34] Our brains relation to the number 3 and how it relates to Jason's diversification strategy
[16:13] Jason's experience of beginning to self manage his remote properties
[18:46] When tenants are connected directly rather than through a property manager they tend to take care of more things themselves
[23:48] The need for standardized data when evaluating properties
Fri, 27 October 2017
Jason Hartman welcomes Economist Mike Norman to the show to discuss Modern Monetary Theory or MMT. Mike shares examples of common misconceptions people have of the US monetary system and economy, such as the US debt clock, that inflation equals growth, and how the tax system works. He believes that the US has an unlimited supply of capital and balancing the budget or functioning as a fixed monetary system would accomplish the opposite of what is needed to create growth.
[1:10] Modern Monetary Theory (MMT) explains the value of money.
[4:09] A tax system is required to create demand for money.
[9:01] A fixed monetary system creates cycles of economic depressions and recessions.
[11:23] The US national debt is a summation of what is owned by the US and its constituents.
[18:55] A dollar must be created and pumped into the economy before it can be used to pay a tax debt.
[21:16] The US has an unlimited amount of new capital.
[26:43] There is a difference between inflation and growth.
Fri, 20 October 2017
Investment Counselor and Local Market Specialist Liaison, Carrie joins Jason Hartman to see if he can correctly predict the effect the rise in interest rates will have on the US economy. Jason reminds us the Feds don’t directly impact mortgage rates but by directly impacting short-term rates all rates will be affected. For those of you who have income properties, the higher interest rates will put upward pressure on rents. And if you are looking for additional properties, be sure to get pre-approved for financing before the Oklahoma Property Tour and JHU Live event.
[03:56] What does the spike in interest rates mean for investors?
[10:10] Higher interest rates will put upward pressure on rents and lessen the concentration of wealth.
[14:20] Local Market Specialists and Investment Counselors are always working in the client’s best interest.
[23:44] It’s important to get pre-approved for financing in today’s seller’s market.
[25:13] Jason hints about the location for the next Venture Alliance Mastermind.
"The Fed has weapons it can use to fix the economy and interest rates are one of those weapons."
Fri, 13 October 2017
Clients in the sports and entertainment world have the same issues as those in the regular world, but they also have a few extra needs and difficulties. Because of this, you have to go about acquiring their business a little different than normal. Kofi Nartey, National Director of the Compass Sports & Entertainment Division and author of Sellebrity: How to Build a Successful Sports & Entertainment Based Business, talks with Jason Hartman about ways you can break into the industry.
Kofi has some marketing tips that can keep you from spending a ton of money to meet celebrities, as well as some good advice on how to act when you get your meeting.
[2:36] What's different about sports and celebrity clientele needs?
[6:45] How do you convey your ideas to celebrities before you start working with them to convince them you understand their needs?
[10:42] Some ways to test the marketing waters of working with the elite without bankrupting yourself
[12:46] How to stand out when you get a chance to meet with potential celebrity clients
"You cannot be awestruck. Part of servicing sports & entertainment clientele is that you have to be a safe haven for them"