Creating Wealth Real Estate Investing with Jason Hartman

Jason Hartman talks rent control today, both in his intro discussing the upcoming deadline for California's state wide rent control, and with Paul J Massey, former mayorial candidate for New York City and CEO of B6 Real Estate Advisors, as the two discuss the impact rent control is having on the real estate market in New York City. Cap rates aren't terrible for multifamily at the moment, but nobody knows what the future of their property is, so it's holding things back quite a bit.

Key Takeaways:

[3:19] LA City Council recently decided that landlords are required to let current tenants renew their lease

[11:22] US housing affordability woes causing migrations

Paul Massey Interview:

[18:24] Luxury homes and condominiums have been overbuilt in New York City

[21:31] What are the reasons rent control is being done?

[25:14] Paul's real estate journey in New York City

[27:26] Cap rates available in New York City


Direct download: CW_1315_Paul_Massey.mp3
Category:general -- posted at: 5:00pm EDT

Jason Hartman and Adam begin today's show discussing Jason's first car and how he recently adjusted the price of his old cars to inflation. They also discuss what's going to happen to McMansions with the new generations coming and the impact of declining HELOC activity.

Then Jason finishes his talk with Jeff Fromm, the Millennial Marketing Guy, about Gen Z & Y. While the two generations are close in age, they are incredibly different when it comes to advertising and habits, so it's crucial that you understand the difference in the two.

Key Takeaways:

[3:57] Adjusting things for inflation makes a world of difference when comparing

[7:46] The generation that's willing to give up the most to buy a home is Gen Z

[10:48] McMansions and Millennials

[14:03] HELOC activity being lower is a good thing for housing market stability

[17:36] The importance of skin in the game

Jeff Fromm, Part 2

[18:33] Gen Z and Y both like to be involved with companies that support their causes, but there are some differences

[22:42] Will the Millennials and Gen Zers have interest in the McMansions that were built?


Direct download: CW_1314_Jeff_Fromm2.mp3
Category:general -- posted at: 4:58pm EDT

Jason Hartman starts today's episode discussing improved home purchasing power for consumers. Shifts in median mortgage payments has created opportunities for buyers and investors.

Then we have the first part of Jason's talk with Jeff Fromm, the Millennial Marketing Guy, about the differences between Gen Y and Gen Z. While the two generations are close in age, they are incredibly different when it comes to advertising and habits, so it's crucial that you understand the difference in the two.

Key Takeaways:

[4:24] The coming McMansion issue

[7:06] One of the High 5 metrics Jason looks at is the median mortgage payment

[11:35] Home prices are actually 42% below their 2006 peak when factoring in consumer house buying power

Jeff Fromm Interview, Part 1:

[20:35] Gen Z are NOT Millennials to the 2nd degree. They're more like Gen X

[24:07] Some of the big differences between Gen Y and Gen Z


Direct download: CW_1313_Jeff_Fromm1.mp3
Category:general -- posted at: 5:00pm EDT

From poolside at their luxurious resort in Orlando, Jason and his mom take a look back at the weekend to examine what all they learned during Profits in Paradise. The two discuss the high quality of construction being done by the team in Florida, what they learned about their real estate business and takeaways from the Wealth Simulation game Doug ran.

Key Takeaways:

[5:20] The tools we have available for our real estate business can make us a lot more money than we could otherwise

[8:36] Jason's mom absolutely loved the single family new construction first impression during the Friday property tour

[14:11] James Malinchak's speeches reminded Jason's mom that you can often learn more things from your failures than successes

[18:37] As real estate investors we're running Invisible Organizations

[21:48] Mitch Russo's girlfriends letter to Jason about Profits in Paradise


Direct download: CW_1312_Profits_Recap.mp3
Category:general -- posted at: 5:13pm EDT

Today's Flash Back Friday comes from Episode 948, originally published in January 2018.

Jason Hartman finishes up his conversation about asset protection with Garrett Sutton. The two delve into the external threats to your portfolios this time, looking at how to properly protect your properties if lawsuits come toward you.

Garrett also explains when you would want to take an LLC over a corporation, what states are best for protecting you, what actions are being taken to weaken LLCs across the nation, and why doing more than the law stipulates can be a very good, very easy thing.

Key Takeaways:

[2:38] Photos from Meet the Masters are up at

Garrett Sutton Interview:

[7:31] Two areas where Jason sees real estate creating liabilities for the owner: fair housing and safety

[11:47] The external threat is the biggest threat for your assets

[13:47] Breaking down Slide #6

[17:54] What you need when you domesticate a judgement

[20:02] It's a good idea to have yearly meetings for your LLC even if your state doesn't require it

[22:13] States that have good asset protection for LLCs and corporations

[24:21] Why an LLC over a Corporation

[27:59] Some states are not providing asset protection for single member LLCs

[31:59] Garrett's $100 off deal for Jason's listeners


Get Garrett Sutton’s Slides here

Direct download: CW_1311_FBF_Garrett_Sutton_2.mp3
Category:general -- posted at: 5:00pm EDT

In this off-topic 10th episode, Jason Hartman spends some time analyzing the power of the brain and what our brain does to protect ourselves and allow us to function in our day to day life. He also lays down a challenge for all listeners in order to figure out what's important to us all.

Then Jason talks with Lawrence Susskind, Ford Professor of Environmental & Urban Planning at MIT and Vice-Chair of the Program on Negotiation at Harvard Law School and author of Entrepreneurial Negotiation: Understanding and Managing The Relationships That Determine Your Entrepreneurial Success, about what urban development means in today's age and ideas coming up that can help alleviate many of our city's difficulties.

Jason and Lawrence also discuss the importance of negotiation and the mindset you must have whenever you enter into them. Many people's attitudes these days are skewed toward doing what's best for themselves, and Lawrence explains why that's wrong and why the methods we're trying to use for negotiations are all wrong.

Key Takeaways:

[4:25] Always be trying to strengthen your attention muscle

[7:15] Our brains are phenomenal at denying we're going to die, which allows us to function

[13:59] Jason actually did an assignment that a professor gave in the 1988 movie Cocktail

[19:20] What if we embraced life and brought our A game every day rather than thinking death was some thing way off we don't need to worry about?

Lawrence Susskind Interview:

[24:05] The art of urban planning and its changing nature

[27:06] Cities are going through a process of change and we're likely to see big cities continuing to spread rather than becoming denser

[32:09] Some ideas for the future on how to reduce or eliminate traffic

[36:47] The single most important thing to becoming a better negotiator

[41:49] You need to know the other party's options so that you can know where you stand in negotiations

[45:42] How negotiation can make you a better leader

[50:10] We need to stop thinking that text based communication can be a way to run a business


Direct download: CW_1310_Lawrence_Susskind.mp3
Category:general -- posted at: 5:00pm EDT

Jason Hartman and Adam come together to discuss an article from the Drudge Report about the big cities losing workers by the hundreds, as well as a Business Insider article looking at the number of Millennial Millaires and where they're located around the country. Jason and Adam explore what these trends and stats mean to real estate values and what real estate investors can do with that information. Plus, Jason brings an unbelievable property to the show for you, what's the catch???

Key Takeaways:

[2:55] Big name cities are losing people in the 150-300 per day range

[6:39] A mass exodus to rural areas needs companies to embrace 100% remote working at a higher level

[10:19] A property comparison

[17:55] Don't just pay things because someone sends you an invoice. Make sure it's legitimate and the best price possible

[24:49] Where are the Millennial Millionaires and what's their wealth worth?


Drudge Report: Biggest Cities Losing Workers

Business Insider: Top 10 States Where Millennial Millionaires Live

Direct download: CW_1309_Millennial_Millionaires.mp3
Category:general -- posted at: 5:35pm EDT

Today Jason Hartman examines Chapter 17 of Charles Murray's book, Coming Apart, and explores why it's so important that we face struggles and adversity in our life. Working for things and fighting battles is what makes things worth living, what keeps life interesting. Being handed things doesn't make life better, it makes it boring.

Key Takeaways:

[3:51] The challenges and struggles we experience aren't bad, they're good

[12:31] If you want to build a great real estate portfolio, climb the corporate ladder, anything, you need to fight some battles

[15:56] Some recommended authors for your education

[20:10] People have compared the US to the Roman Empire, and it's important to remember that Rome collapsed from within

[27:06] Not having to work for things makes life boring and can tear you apart

[32:49] The more we rely on the government the worse our life gets


Direct download: CW_1308_Coming_Apart.mp3
Category:general -- posted at: 6:03pm EDT

Jason Hartman and Adam begin today's episode discussing the topic of the graying of America, and what the increasing demographic of people over the age of 80 means to real estate investors.

Then Jason talks with Daniel Ameduri, co-founder of Future Money Trends newsletter and author of Don't Save For Retirement: A Millennial's Guide to Financial Freedom, about how the working environment has changed from the Baby Boomers to Millennials and how the Millennial generation need to change their mindset about retirement in order to not be left behind when they're ready to leave the rat race.

Key Takeaways:

[5:52] How a cruise ship is a metaphor for life

[9:55] 18 million adults in the US will be in their 80s in the next decade

[12:23] The cost of construction could drive the elderly out of their homes if they need to renovate for their lifestyle

Daniel Ameduri Interview:

[18:55] What does Daniel mean when he tells people not to save for retirement???

[23:09] Beware financial advisers, there's more education required to be a hair stylist

[27:52] Millennials should embrace the freelance economy

[32:10] Daniel is seeing boom time for the next year


Direct download: CW_1307_Daniel_Ameduri.mp3
Category:general -- posted at: 4:51pm EDT

Today's Flash Back Friday comes from Episode 947, originally published in January 2018.

Jason Hartman wanted to make sure that the practice of asset protection is understood by every investor, because it can make or break your portfolio if done wrong.

As such, he invited Rich Dad Advisor Garrett Sutton back on the show for a long, in-depth interview. We'll finish it up tomorrow with the second half, but today the two discuss the inside/outside attack on LLCs, discuss which states have weak and strong LLC protections, and how to protect your properties properly.

Key Takeaways:

[4:26] The impact of controlling the money

[7:58] How music has impacted societies around the world

[10:43] Want to go to the Icehotel in Sweden with Jason?

[13:11] The inside attack versus the outside attack

[16:54] California has the weakest asset protection laws in the union

[19:00] Why Wyoming LLCs can protect your other LLCs better than any other state

[23:34] If you have your state LLC inside a Wyoming LLC domesticated in your state, which state rules apply?

[25:44] Why is it called an "Armor 8" strategy and when is it a good choice?

[30:37] How the Wyoming LLC provided a win for a car wreck causer


Get Garrett Sutton's Slides here

Direct download: CW_1306_FBF_Garrett_Sutton1.mp3
Category:general -- posted at: 5:00pm EDT

Jason Hartman talks with client Sean Carroll about the journey he's had with real estate. From starting out as an agent in New York before the Great Recession to losing every penny he had, Sean now has a portfolio of properties that is allowing him to be in the career he wants to be in. Jason and Sean explore Sean's best and worst decisions in order to help you stay on a safe, profitable path.

Key Takeaways:

[4:04] How Sean lost BIG during the Great Recession

[8:53] The deal that truly put Sean under

[13:49] The system is set up to create asset inflation

[16:24] The owner of a home Sean sold in 2006 is still $70,000 underwater

[21:26] Stop calling things problems and start calling them challenges

[25:35] Apps, tools, tips Sean has for investors


Direct download: CW_1305_Sean_Carroll.mp3
Category:general -- posted at: 4:52pm EDT

From St. John, New Brunswick, Canada, Jason Hartman looks at 2 news articles that should make real estate investors pretty happy. They're about how even high earners aren't able to buy homes right now (giving us a bigger renter pool to serve) and how the refinance market has skyrocketed and how you can take advantage of it.

Then Jason talks with Andres Pira, CEO of Blue Horizon Developments, Managing Director of Phuket Condos & Homes and author of the book Homeless to Billionaire – The 18 Principles of Wealth Attraction and Creating Unlimited Opportunity, about his journey through real estate investing and how he reached this point in his career. Andres explains the importance of giving before expecting and how that will help you succeed in business and life.

Key Takeaways:

[5:03] People making $100,000 a year still can't buy homes in many American cities

[9:16] Refinancing is up 300% due to low interest rates

Andres Pira Interview:

[13:29] Andres' path through the real estate world

[17:48] You have to take risks in life, so just make sure you consider the worst case scenario and whether you can bounce back from it

[21:21] Vibrational giving: give out first, then good things will come later

[26:31] Stop trying to win deals and make them win-win


Direct download: CW_1304_Andres_Pira.mp3
Category:general -- posted at: 5:00pm EDT

Jason Hartman, from just outside the shores of Boston, takes a dive into the extent to which the idea of fiat currency has spread throughout the country's conscience in the past few years. Several years ago you wouldn't have heard a peep about it, but with the rise of cryptocurrency it's become more and more prevalent. He also explores Orlando's position in the rental market and how long properties are staying on the market.

Then we go to a clip from the 2018 Meet the Masters of Income Property, where Jason discusses how his prediction of 6 million new renters came more than true.

Key Takeaways:

[4:23] Fiat money is becoming more and more understood by society at large

[9:39] Money is moving out of stocks in the largest quantity in the last decade

2018 Meet the Masters:

[18:00] The belief that the decline in home ownership rate is a tragedy for society is unfounded

[24:20] Eventually Millennials will start inheriting money and that will impact the housing market


Direct download: CW_1303_Jason.mp3
Category:general -- posted at: 5:00pm EDT

From the Fall Foliage cruise, Jason Hartman begins today's show discussing what we don't see when we look at successful people. We don't see the struggles they've dealt with on the way to the success we now see.

Then Jason talks with Spencer Burleigh, co-founder of Spencer's company will build a unit on your land, list it online and split the rental profits with you 50/50 as long as you have an area at least 25' by 20' clear and you live in your home most of the year. Listen in as Jason and Spencer discuss the business model and how you can take advantage of it.

Key Takeaways:

[6:49] Anybody who is successful, we either don't realize or we forget that their success, but they've fought battles all the way

[13:10] A Nelson Mandela quote that you need to remember

Spencer Burleigh Interview:

[15:35] What problem is Rent the Backyard addressing?

[20:30] Rent the Backyard is able to create a second dwelling on the property without getting the land rezoned

[25:06] The stigma behind manufactured housing needs to go away, but it also needs to get cheaper

[28:38] The income side of Rent the Backyard's business model


Direct download: CW_1302_Spencer_Burleigh.mp3
Category:general -- posted at: 5:15pm EDT

Today's Flash Back Friday comes from Episode 1019, originally published in June 2018.

Jason Hartman has a solo episode today as he explores some recent news stories and examines a few items of the day. Venturing all over the topics, Jason mulls over why it's pretty common for the most popular economists to have the worst economic ideas (a la Karl Marx) and why the best economic ideas have the most disliked economists. Which leads to the question, what stupid ideas are we as a society embracing today?

He also discusses the Supreme Court ruling that will somewhat level the field of retail as online retailers are now able to be taxed by the states, giving at least some form of a light at the end of the tunnel for retailers.

Other topics of the day include the cost of terrorist protection, technology vs inflation, preventing identity theft, and the potential beginning of the demise of a massively overvalued (in Jason's mind) company.

Key Takeaways:

[4:54] The economists who present the best economic views are not the most popular

[7:39] What totally stupid ideas are we embracing as a society today?

[13:08] One massively overvalued publicly traded company today

[16:39] The tax field was significantly leveled last week

[21:14] The battling forces of inflation and technology

[24:22] Why you need to shred EVERYTHING with a cross cut shredder

[26:45] If you can geoarbitrage, make a conscious choice to live in a higher quality location with a lower cost of living and low or no state income tax

[32:57] The demographics coming at the rental housing market in the next 10 years are nothing short of phenomenal


Direct download: CW_1301_FBF_Jason_Hartman.mp3
Category:general -- posted at: 5:00pm EDT

Jason Hartman begins today's show discussing some potential signs that inflation isn't currently a problem, his recent settlement he received from a landlord and what you can expect from business deals in today's environment.

Then, for our off-topic 10th show interview, Jason talks with Graham Hancock, author of the new book America Before: The Key to Earth's Lost Civilization, as well as the best selling book Fingerprints of the Gods: The Evidence for Earth's Lost Civilization, about why the Americas were probably settled long before we originally thought they were. The two also delve into the idea that past civilizations were much more advanced technologically than we give them credit for, their technology was just different from ours so we tend to discount it.

Key Takeaways:

[4:28] The Producer Price Index has fallen, which suggests inflation is tame

[6:35] Jason's recent settlement with a landlord

[11:12] When you get in a business deal, don't expect to be able to hold people accountable through the system

[14:19] Corporate pensions are underfunded and a huge risk to rely on

Graham Hancock Interview:

[19:15] A massive cataclysm struck the earth between 12,800 - 11,600 years ago

[22:38] It's distinctly possible that the lost civilization was advanced technologically, just in a different way than we currently are

[25:21] The Great Pyramid shows us that whoever built it had a complete knowledge of the size and nature of the Earth

[28:48] The problem with American archaeologists' Clovis First model

[33:45] It's human nature to not want to admit you were wrong, but in the end the evidence will force people to accept new theories that are shown to be correct


Direct download: CW_1300_Graham_Hancock.mp3
Category:general -- posted at: 5:00pm EDT

Jason Hartman discusses something he has talked about many times today, and that is the value of a dollar. To do so he breaks down a YouTube video by the Wall Street Journal that discusses inflation and what scares the Fed when it comes to it. Then Jason and Investment Counselor Carrie discuss her recent mini-property tour with investors and the upcoming property tour in Florida the day before Profits in Paradise.

Key Takeaways:

[4:37] Is capital or labor more important

[7:47] Low inflation or even deflation can have disasterous consequences

[12:59] When rates are low, more people take out credit, and credit is a phantom version of money supply

[17:32] Inflation arbitrage can't last forever

Jason & Carrie:

[23:43] How Carrie's mini-property tour went

[26:50] The Refi Til Ya Die plan in today's market

[31:15] We're in an environment where you can just ask your lender for a better interest rate and it can work without a refinance

[32:27] Inventory is finally starting to pick up


Low Inflation Haunts the Fed: Here's Why | WSJ

Direct download: CW_1299_Carrie.mp3
Category:general -- posted at: 5:00pm EDT

Jason Hartman and Investment Counselor Adam take today's episode to examine a real estate scam that is finally being investigated by the FTC that has been used to defraud untold number of people out of tens of thousands of dollars each. These criminals might finally be held accountable. After that Jason and Adam examine Dan Ariely's YouTube video about how to make money less abstract and why the idea of paying yourself first is so important. They then wrap up the episode with some great economic news for our tenants that neither side of the political aisle is talking about.

Key Takeaways:

[4:07] The FTC is examining alleged scams with TV stars from shows about flipping

[9:33] Be wary of free events

[13:20] How to compare your money

[16:22] Create your own hedonic values when it comes to your money

[18:18] Pay yourself first is an important concept for our lives

[20:55] The Pain of Paying concept

[27:40] The wage growth story that neither political party wants to take credit for

[31:27] The theory of anti-fragility


Dan Ariely's Making Money Less Abstract

Direct download: CW_1298_Adam_Scams.mp3
Category:general -- posted at: 5:00pm EDT

Jason Hartman and Investment Counselor Sara talk about some of the issues that clients are dealing with and considering in today's episode. With rates as low as they've been in years and the ability to refinance or get a line of credit at reasonable rates, what is an investor to do?

Key Takeaways:

[3:40] Non-refi interest rate reductions are happening, so don't be afraid to ask

[7:31] Refi a 30 year fixed rate or do a HELOC?

[12:17] A look back at "Go Zones" and what some of the problems were

[21:35] The current investor vibe


Direct download: CW_1297_Sara.mp3
Category:general -- posted at: 5:00pm EDT

Jason Hartman joins Investment Counselor Sara and one of the Florida market specialists to discuss the upcoming Profits in Paradise event and the Florida property tour the Friday before the event. Prior to the Great Recession, the network dealt exclusively with new construction. Now it's a rarity, but Florida (and Atlanta) is able to provide that right now. New construction allows for win-win-win situations between investors, developers, and tenants.


Direct download: CW_Bonus_Profits_In_Paradise.mp3
Category:general -- posted at: 11:33pm EDT

Today's Flash Back Friday comes from Episode 995, originally published in May 2018.

Today's episode is another in property management education. It's crucial that you identify the weak link in all your investments, as well as figuring out a safeguard against them. When it comes to your real estate investing, it's quite possible that your weak link is your property manager.

After his intro, Jason Hartman has part 1 of a client case study with Muthiah where the two discuss an incident Muthiah recently had with a vendor, and what actions you can take when you're being wronged.

Key Takeaways:

[5:25] Cutting out the middle men - property managers

[9:08] One of the best decisions Jason made when he got into the nationwide real estate business 14 years ago

[13:09] Looking for the weakest link in your investments

[17:30] Jason's been accused of being a complainer, but is that such a bad thing? Complainers change the world

Muthiah Client Case Study:

[22:27] What happened to Muthiah that created tension with the seller

[24:55] If the seller wants to close before the repairs are completed, the only way you accept is if they have money held in escrow in case they don't do what they promised

[28:00] The two ends of the company spectrum

[30:51] What Jason wants you to negotiate with your property management contract

[34:52] The inherent conflict of interest with property managers


Direct download: CW_1296_FBF_Muthiah.mp3
Category:general -- posted at: 5:00pm EDT

Jason Hartman and investment counselor Adam take a look at some good news in today's economy. Home prices are expected to continue, mortgages are safer than ever, and jobs are increasing for all. They also look at some not so good news, from foreign money leaving the economy to the high income tax state apocalypse.

Key Takeaways:

[2:56] CoreLogic expects home price gains to accelerate through 2020 and mortgage rates are expected to stay below 4%

[7:53] Mortgage default risk continues to decrease

[11:43] Inflation in entertainment has been enormous, watch out for how pooled money asset companies use their money to pay for it

[17:10] The high income tax state apocalypse is underway

[21:23] Foreign money has helped push out middle class people

[27:02] Some great news on jobs


Direct download: CW_1295_Adam.mp3
Category:general -- posted at: 5:49pm EDT

Jason Hartman wants to remind everyone to slow down and notice the things around you in life. Before getting to the main interview, Jason reflects on a country song he almost didn't listen to this morning and how it made him do a little introspection.

Then Jason talks with Hernando De Soto, founder and President of the Institute for Liberty and Democracy and author of The Mystery of Capital:, about the elements of capitalism that are most important and how property rights are absolutely essential. They also discuss the growing sentiment toward socialism in the United States and what impact that could have.

Key Takeaways:

[6:12] Jason's lesson from a country song

[9:42] There will be an offering for tickets to the property tour on Friday before Profits in Paradise if you can only make that

Hernando de Soto Interview:

[12:56] The 5 mysteries of capital

[17:35] Capitalism is one of the few (if not only) systems that gives the lower classes a chance against the rich

[23:37] What we do as capitalists does not translate to what we do in politics

[28:11] The issue of equal opportunity for capital has to be addressed for capitalism to regain its popularity


Direct download: CW_1294_Hernando_de_Soto.mp3
Category:general -- posted at: 5:00pm EDT

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


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