Accredited Income Property Investment Specialist (AIPIS)

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. They also 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:

[4:24] Sometimes removing a property manager actually makes things easier

[7:43] The information you need to get from your current property manager if you're going to make a switch

[12:42] A way to change your relationship with your property manager rather than completely ending it

[15:25] Bad property manager reviews on sites like Yelp might be a good thing, that's why you have to read them

[20:23] Insurance: individual policies or a commercial policy?

[25:07] You should have a clause in the lease stating which repairs the tenant is responsible for

[29:33] What to expect from property management software

[33:36] The importance of an increasing late fee

Websites:

www.JasonHartman.com/Properties

The PropertyCast

www.WeGoLook.com

www.NoLo.com

www.RocketLawyer.com

www.Buildium.com

Direct download: AIPIS_258_Adam_Schroeder.mp3
Category:general -- posted at: 5:51pm EDT

Jason Hartman talks with Keith McIntosh, President of McIntosh & Associates, LLC, about protesting your property taxes for your rental properties across the country. Keith explains the different ways you can protest your taxes, why the government big data doesn't get it right all the time, and more.

Key Takeaways:

[2:01] The property tax process & the 3 typical opportunities to dispute

[8:27] How does the process with Keith's company work?

[10:51] Why is Keith's "big data" different/better than the tax assessors?

[15:34] Is there a non-automated product available?

[17:51] How much people are usually able to save when protesting their taxes using Keith's data

[20:04] Protesting your taxes gives you a cumulative effect over the years

Website:

www.HomeTaxSavings.com

Direct download: AIPIS_257_Keith_McIntosh.mp3
Category:general -- posted at: 5:00pm EDT

Jason Hartman talks with Paul Moore, author of The Perfect Investment: Create Enduring Wealth from the Historic Shift to Multifamily Housing, about what demographics are telling the two of them about the next decade for landlords, as well as home ownership rates and the current habits of both baby boomers and millennials.

Key Takeaways:

[1:46] How the demographics for the next decade looks for landlords

[3:44] Where Jason believes home ownership rate should be

[5:59] The faster growing demographic of renters is the baby boomers

[8:59] Millennials are renting in large numbers, partially thanks to the portability society

[12:55] What investing really is and other investment philosophies

Website:

www.WellingsCapital.com

The Perfect Investment: Create Enduring Wealth from the Historic Shift to Multifamily Housing

Direct download: AIPIS_256_Paul_Moore.mp3
Category:general -- posted at: 3:31pm EDT

Jason Hartman talks with Mitch Stephen, author of My Life and 1,000 Houses, on Mitch's start in real estate, the importance of not having 100% occupancy, how to determine if your market is overbuilt, doing due diligence, and more.

Key Takeaways:

[2:38] Is self-storage overbuilt? How Mitch tries to minimize his competition

[8:05] Self-storage facilities can go up really quick, is it better to buy an existing or build a new one?

[12:45] Jason's revelation about commercial vs self-storage real estate back in 2010

[16:20] Why you never want to be full in any sector of real estate investing & what you should do if facilities in the area are full

[19:49] Some of the due diligence Mitch does when looking for a facility to buy

Website:

www.REInvestorSummit.com

Direct download: AIPIS_254_Mitch_Stephen.mp3
Category:general -- posted at: 11:00am EDT

Jason Hartman talks with Nick Vertucci, author of Seven Figure Decisions and founder of NV Real Estate Academy, about Nick's journey through the real estate world after his tenure in the tech industry. Nick spills the details of his change and why he switched from selling and flipping to educating. The two discuss the downsides of real estate, but also the incredible rewards that can come if you stick with it, make decisions and keep moving forward.

Key Takeaways:

[1:20] Nick's journey from selling and flipping real estate to the education side

[7:48] Nick's first realization that he was making 7 figure decisions, and what true leaders all have in common

[10:50] Real estate isn't perfect, and it isn't easy, but it can bless you significantly

[14:32] Whether it's full or part time, have the entrepreneurial spirit and go create wealth

[16:25] Decision making is one of the most important things a successful person has to have

Website:

www.NVRealEstateAcademy.com

Seven Figure Decisions

Direct download: AIPIS_253_Nick_Vertucci.mp3
Category:general -- posted at: 12:00pm EDT

Jason Hartman plays some of his segment from the latest Cash Flow Wealth Summit where he talks about the 6 ways the US government can solve their $220 trillion obligation and which one we can take the most advantage of as investors.

Key Takeaways:

[2:57] The difference between money and currency

[5:50] The 3 basic economic maladies

[8:01] The entitlement society isn't going to change, so align your interests

[9:45] We must understand the motivations of governments and central banks

[11:43] The 6 ways the government can deal with the looming entitlement bill

[19:23] The most likely solution the government will choose

[23:02] Inflation is the most powerful method of wealth redistribution from lenders to borrowers, old to young

Website:

www.JasonHartman.com/Properties

Jason Hartman's Flash Briefing

The PropertyCast

Direct download: AIPIS_252_6_Reasons.mp3
Category:general -- posted at: 6:16pm EDT

Jason Hartman talks with Joe Melendez, Founder & CEO of Value Insured, which features a new product that can reimburse homeowners up to their full down payment if the market went down when they sold their house. The two discuss the lack of inventory in the entry level home market, the hazards of regulation on today's market, and how Value Insured is able to work to help home owners.

Key Takeaways:

[2:30] The entry level home market has been completely shut out from new home construction

[5:55] How to encourage builders to builder entry level homes

[9:50] Where is all the manufactured housing that people have been expecting?

[12:43] Equity insurance for the homeowner

[19:17] The math behind the equity insurance

[24:02] $60/year for equity insurance seems to say that Joe is bullish on the housing market. Is that true?

[27:11] When will the equity insurance for investors be available?

Website:

www.ValueInsured.com

Direct download: AIPIS_251_Joe_Melendez.mp3
Category:general -- posted at: 9:09am EDT

In this 10th episode, Jason Hartman talks with Steven Landsburg, Professor of Economics at Rochester and author of Can You Outsmart an Economist, about the big economic questions of the day. Steven explains why central planning will never work, the "Economic Berlin Wall" Jason proposes, and why more sex is safer sex (and how that applies to economics).

Key Takeaways:

[5:25] It's virtually impossible for central planners to get economic issues right

[9:55] How minimum wage is taken care of by the Earned Income Tax Credit

[13:14] The "Economic Berlin Wall" in today's society

[22:55] Using economics when considering the world's population

Website:

www.TheBigQuestions.com

www.JasonHartman.com/Events

Direct download: AIPIS_250_Steven_Landsburg.mp3
Category:general -- posted at: 10:16am EDT

Jason Hartman talks with client Diana Dine about her experience investing in real estate. Diana just recently bought her first home and is now up to 5 properties between Jackson and Memphis. She recently went to both cities to meet with the Local Market Specialists and discusses her future plans as she moves toward her financial independence.

Key Takeaways:

[2:15] Why did Diana get interested in real estate?

[6:16] Diana decided to buy her first property at the 2018 Meet the Masters

[7:35] Diana's experience meeting the Local Market Specialists

[12:05] How many properties Diana thinks she needs to reach financial independence

Website:

www.JasonHartman.com/Properties

Direct download: AIPIS_249_Diana_Dine.mp3
Category:general -- posted at: 5:47pm EDT

Jason Hartman talks with Matthew Gardner, Chief Economist at Windermere Real Estate. The two discuss what's going on in the macro US economy, what's going on with home inventory levels, some of the easiest ways to lower home prices, and the Millennial's (mostly futile) quest to save up for a down payment. They also discuss the lack of home inventory and why the loosening of credit regulations isn't going to impact home sales as much as some are hoping. Then they also delve into millennials trying to afford homes and WHERE they can actually afford to live.

Key Takeaways:

[1:18] What's Matthew's take on what's going on in the macroeconomy

[4:06] What's going on with new home development? Will there be any break in inventory shortgage?

[8:19] The easiest way to lower home costs and ease the inventory crisis is by easing regulatory burdens

[11:54] Millenials are having a hard time saving up for a down payment and are asking for a loan from the bank of Mom & Dad

[14:39] Milennials want to live in the "exurbs" in townhomes, but home prices are pushing them out further

[17:05] It's taking a credit score of 740 to get a mortgage loan these days, but even if more people become eligible there's no inventory

[20:16] Factors that could trigger the next business cycle recession and what the next recession might look like

[24:34] Who are the "Boomerang Buyers" and how might they impact the single family rental rate growth?

Website:

www.Windermere.com/Economics

Direct download: AIPIS_248_Matthew_Gardner.mp3
Category:general -- posted at: 4:11pm EDT