Young Wealth by The Jason Hartman Foundation

Today's episode is Jason Hartman exploring Commandment #3: Thou Shalt Maintain Control a lot deeper. Maintaining control in real estate deals has been discussed quite a bit before, but it's not just real estate where control matters. Jason explores the collapse of Enron and why it was such a surprise and why Commandment #3 is crucial even in those scenarios.

Key Takeaways:

[3:10] Airbnb hasn't been through a recession yet, so there's a lot that isn't priced in to the market

[7:12] The 3 major problems when you give up control in an investment

[13:01] The Infographics Show: The Business Deception That Cost $60 Billion

[16:06] The phrase "financial innovation" is a red flag when you hear it

[22:13] Most companies don't have people inside to pump the brakes, because everyone is incentivized to speak highly and show it in the best possible light

[24:33] Derivatives are the thing about the thing, but as an investor you want to be as close to the "thing" as possible

Website:

www.JasonHartman.com/Ask

Jason Hartman Quick Start Podcast

The Infographics Show: The Business Deception That Cost $60 Billion

Direct download: YW_145_Commandment3.mp3
Category:general -- posted at: 12:00pm EDT

Jason Hartman talks with 32 year old Ryan Narus about his journey buying mobile home parks the last few years. Jason and Ryan discuss how to source deals, how to build communities, and finding investors to help you buy properties if you don't have the funds.

Key Takeaways:

[1:15] What led to Ryan starting to invest in real estate

[4:33] How mobile home parks line up with Ryan's life views and desires

[8:26] Evicting tenants who live in your mobile home vs their own mobile home

[13:00] How to find and analyze mobile park deals

[16:22] How Ryan values mobile home parks

[19:44] Keep track of everyone you ever meet in this business, it's all about relations

Website:

www.ArchimedesGrp.com

www.JasonHartman.com

Direct download: YW_144_Ryan_Narus.mp3
Category:general -- posted at: 12:00pm EDT

Jason Hartman talks with Thomas Jones, former vice chairman and director of TIAA-CREF, former Chairman and Chief Executive Officer of Global Investment Management at Citigroup, and former Chairman and Chief Executive Officer of Citigroup Asset Management. He was also the former Vice Chairman of Federal Reserve Bank of New York. Jason and Thomas discuss Thomas' entrance into real estate, why Thomas is so bullish on America long term, and what sets America apart from the rest of the world.

Key Takeaways:

[2:31] Thomas and his bride actually started by bidding on 2 burned out buildings in Boston

[7:49] Thomas is perennially bullish long term, so dips in the economy are buying opportunities for him

[10:02] The changes on Wall Street over the years

[14:11] The most disappointing aspect to the reforms that have been made since the Great Recession

[19:19] One of the things that really sets America apart is the excited entrepreneurial spirit

[23:35] America faced a metaphorical crossroads in the late 1960s

[26:25] Our nation doesn't give itself enough credit for how far we've come, even though we still have a ways to go

Website:

From Willard Straight to Wall Street on Facebook

From Willard Straight to Wall Street

Direct download: YW_143_Thomas_Jones.mp3
Category:general -- posted at: 3:21pm EDT

Jason Hartman 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:

[4:24] What does Daniel mean when he tells people not to save for retirement???

[8:38] Beware financial advisers, there's more education required to be a hair stylist

[13:21] Millennials should embrace the freelance economy

[17:40] Daniel is seeing boom time for the next year

Website:

www.FutureMoneyTrends.com/Save

Direct download: YW_142_Daniel_Ameduri.mp3
Category:general -- posted at: 11:06pm EDT

Jason Hartman talks with Spencer Burleigh, co-founder of www.RentTheBackyard.com. 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:

[1:37] What problem is Rent the Backyard addressing?

[6:31] Rent the Backyard is able to create a second dwelling on the property without getting the land rezoned

[11:07] The stigma behind manufactured housing needs to go away, but it also needs to get cheaper

[14:39] The income side of Rent the Backyard's business model

Website:

www.RentTheBackyard.com

Direct download: YW_141_Spencer_Burleigh.mp3
Category:general -- posted at: 12:00pm EDT

In today's off-topic 10th episode, Jason Hartman talks with Walter E Williams, Professor of Economics at George Mason University and author of American Contempt for Liberty, about what is going on in our society today. America has become a country of people who hate liberty and want to take from others to give to themselves or others who they deem need it more. There seems to be an unwillingness to accept that people earn more than others and thinking that the government needs to step in and play a role. Walter explains to Jason how we can solve our problems by telling the government to get out of the way more than telling them to help.

Key Takeaways:

[1:28] Do United States citizens really have contempt for liberty?

[7:23] Has the Trump administration turned the tide at all?

[10:45] Is a wealth tax fair?

[15:33] Politicians are doing exactly what we elect them to do

[20:47] The only way we're going to solve our nation's problems

Website:

www.WalterEWilliams.com

Direct download: YW_140_Walter_Williams.mp3
Category:general -- posted at: 12:00pm EDT

Jason Hartman talks 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, so it's crucial that you know the difference in the two. Jeff explains how those differences will impact society at large and certain industries specifically.

Key Takeaways:

[3:16] Gen Z are NOT Millennials to the 2nd degree. They're more like Gen X

[6:48] Some of the big differences between Gen Y and Gen Z

[15:22] Gen Z and Y both like to be involved with companies that support their causes, but there are some differences

[19:30] Will the Millennials and Gen Zers have interest in the McMansions that were built?

Website:

www.JeffFromm.com

Direct download: YW_139_Jeff_Fromm.mp3
Category:general -- posted at: 12:00pm EDT

Jason Hartman talks with Patri Friedman, Executive Director of The Seasteading Institute, about creating new countries using the seasteading technique. Patri discusses how the concept would work in today's environment and why it's not absurd to think of a country being created on the water. It's coming sooner than you expect.

Key Takeaways:

[1:44] What is seasteading?

[6:37] Why not just buy land from a country rather than doing everything out at sea?

[10:36] Patri's goal is seeing governments competing for citizens by treating them best

[14:13] How do you deal with security when you're in the middle of the ocean?

[18:34] What are these seasteads going to do for currency?

Website:

www.Seasteading.org

www.Twitter.com/Patrissimo

Direct download: YW_136_Patri_Friedman.mp3
Category:general -- posted at: 4:02pm EDT

Jason Hartman talks with Gabriel Weinberg, founder of DuckDuckGo and author of Traction: How Any Startup Can Achieve Customer Growth and Super Thinking: The Big Book of Mental Models, about how you can use some of the mental models to help you achieve the returns you desire. They also touch on the problem of achieving privacy in today's world and how DuckDuckGo helps in that.

Key Takeaways:

[1:45] What is Super Thinking?

[6:17] The Mental Model of Forcing Function

[10:08] The model fo Deliberate Practice

[14:58] Beware of Hindsight Bias

[18:46] To really get outsized returns you need to make a bet on the future

Website:

www.SuperThinking.com

www.Twitter.com/Yegg

Direct download: YW_137_Gabriel_Weinberg.mp3
Category:general -- posted at: 8:38am EDT

After giving a quick update on his cruise travels, Jason Hartman talks with Taylor St Germain, economic analyst at ITR Economics, about why lower interest rates haven't spurred the higher end housing market. The two also discuss what indicators Taylor looks at to get a gauge on the economy and the impact tariffs have had and may still have yet to come.

Key Takeaways:

[1:26] Are lower interest rates good news for cyclical markets or are they just too overpriced?

[5:53] The rise in wages has helped the economy but it's not changing the overall trend or forecasts

[9:51] Why are housing starts so important?

[14:56] ITR's concerns with the tariffs currently being put in place

[19:12] More tariffs could potentially put us in a recession, so be very careful if we see more coming

Website:

www.ITREconomics.com

Direct download: YW_136_Taylor_Germain.mp3
Category:general -- posted at: 3:22pm EDT

Jason Hartman 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:

[1:48] Andres' path through the real estate world

[6:06] 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

[9:40] Vibrational giving: give out first, then good things will come later

[14:49] Stop trying to win deals and make them win-win

Website:

www.AndresPira.com

Direct download: YW_135_Andres_Pira.mp3
Category:general -- posted at: 4:16pm EDT

Jason Hartman talks with Geoff Cook, co-founder and CEO of MeetMe and The Meet Group, about the creation of his company that has created a $400 market cap. MeetMe is a dating app like many others, but has differentiated itself by using live streaming. Geoff and his team have noticed that people are segmenting their personalities across brands rather than trying to change their privacy settings on one platform, and was able to take advantage of that.

Key Takeaways:

[1:49] How live streaming made Geoff's dating app revenue explode

[4:48] Deciding to go forward with live streaming was an all in bet for the company

[7:34] The problem right now with video on dating apps is that many people don't want to be in a video

[10:21] People share different aspects of their life with different brands

Website:

www.MeetMe.com

Direct download: YW_134_Geoff_Cook.mp3
Category:general -- posted at: 1:01pm EDT

Jason Hartman talks with Dan Martell, founder of SaaS Academy, about how to scale your business using software as a service. Dan and Jason explore how current conditions have actually created an even bigger opportunity for software services than originally thought. Most every problem that pops up can be solved with a service you can provide a subscription for.

Key Takeaways:

[2:15] You need to perfect 4 core pillars to get to scale

[4:25] Dan likes using the acronym MEVO rather than MVP

[8:37] Outline your product and go try and get 10 orders

[11:38] What you need to make freemium work

[14:20] Dan believes you succeed in business when you fall in love with the problem rather than the solution

[17:52] We're moving toward a subscription society

Website:

www.DanMartell.com

Direct download: YW_133_Dan_Martell.mp3
Category:general -- posted at: 5:00pm EDT

Jason Hartman talks with Greg S Reid, author of the new book Wealth Made Easy: Millionaires and Billionaires Help You Crack the Code to Getting Rich, about the hacks he learned by interviewing multiple multi-millionaires and several billionaires.

Greg also dispels some old advice that he doesn't think holds true today, as well as providing an important concept when planning your future.

Key Takeaways:

[2:25] Some of the hacks that Greg discovered in his research

[6:25] The concept of CPC: Clues, Patterns, Choices

[9:58] If the concept of "your income is the average of the 5 people you spend the most time with" is outdated, what's the solution nowadays

[12:51] It's important to remember, thoughts are not things

[15:44] Don't follow your passion to make money, create opportunities and wealth for yourself so you can follow your passion

Website:

Wealth Made Easy

www.KeynoteSpeaker.tv

Direct download: YW_132_Greg_Reid.mp3
Category:general -- posted at: 12:38am EDT

In this off-topic 10th episode, Jason Hartman talks with Ocean Robbins, decendant of the Baskin-Robbins family and author of the new book 31-Day Food Revolution: Heal Your Body, Feel Great, and Transform Your World, about the state of American's eating today. The two break down how our diets have changed over the years, why some aspects of our diets are the way they are, how to make a more ethical, sustainable world, and more.

Key Takeaways:

[2:57] Has anything changed since Diet for New America came out?

[5:01] There's a lot of money being made on the status quo

[8:12] What to do if you want a more ethical, sustainable world

[12:32] Jason's theory on meat through the ages

[15:21] We aren't getting nearly enough fiber in our diet now

[17:05] The key use of willpower is to establish healthy habits

Website:

www.31DayFoodRevolution.com

Direct download: YW_130_Ocean_Robbins.mp3
Category:general -- posted at: 9:03pm EDT

Jason Hartman talks with John Warrilow, author of Built To Sell, as well as The Automatic Customer, about how to improve your businesses value to the point where you can sell it for top dollar. Personal branding can be great for your business when you start, but can create a rough environment for selling. Listen in as John explains how you can utilize subscription models in today's world to drastically increase your business value.

Key Takeaways:

[1:22] How John started helping companies increase their value

[2:19] How a consulting company John had with blue chip clients and several million dollars in sales was worthless, and how he turned it around

[5:26] The 3 attributes to scale

[9:23] The good and bad of personal branding

[13:06] Don't try to ride your business to the peak and get every last penny before selling, but you want to sell earlier in the game than that

[17:21] How much should you be willing to lose in customer acquisition in order to get that monthly recurring revenue?

[21:37] The 9 subscription models

[24:59] Amazon is a trillion dollar business is because of their subscription models

Website:

www.ValueBuilder.com

Direct download: YW_129_John_Warrilow.mp3
Category:general -- posted at: 12:00pm EDT

Jason Hartman talks with Steve Jones, CEO of Allied Universal and author of the book No Off Season: The Constant Pursuit of More, about how his career in sports translated into business success. Steve and Jason look at the various skills learned in sports and how can each be applied to the business world, whether you're an employee or employer.

Key Takeaways:

[4:14] Your ability to overcome obstacles is going to make or break your success

[7:03] Sports teaches you how to work as a team

[10:08] Some techniques on how to keep the team cohesive when dealing with adversity

[13:47] With no action steps in place you only have a dream, not a plan

Website:

www.AUS.com

Direct download: YW_128_Steve_Jones.mp3
Category:general -- posted at: 3:56pm EDT

Jason Hartman talks with Jorge Newbery, founder and CEO of Debt Cleanse, founder of American Homeowner Preservation and author of Debt Cleanse: How to Settle Your Unaffordable Debts for Pennies on the Dollar, about how he was able to climb out of a $26 million hole and how others can follow in his footsteps. This isn't about cheating your way out of debt, it's about using the same rights that creditors have because you need to protect yourself from predatory lending practices.

Key Takeaways:

[2:32] Debt may seem simple, but it's a lot more nuanced that you'd first believe

[4:17] If you can't afford your debts, the best thing you can do is to stop paying them

[7:29] How Jorge got started paying off his $26 million debt

[10:06] What kind of errors you should be looking for from your lendors

[15:56] The elite have often used debt as a way to enslave the lower classes

Website:

www.DebtCleanse.com

Debt Cleanse: How to Settle Your Unaffordable Debts for Pennies on the Dollar

Direct download: YW_127_Jorge_Newbery.mp3
Category:general -- posted at: 5:35pm EDT

Jason Hartman talks with Blake Harris, NY Times best selling author of the new book The History of the Future: Oculus, Facebook & the Revolution That Swept Virtual Reality, about the impact technology is having on our lives and how virtual reality can (and currently can't) fit into them as well. The two examine who the leaders are on the VR front, what price point you're currently looking at versus how much it may cost in the future and more.

Key Takeaways:

[2:29] Is the Virtual Reality revolution over before it's even really begun?

[5:25] How technology could change the way we look at properties

[8:56] What is "affordable" for virtual reality equipment?

[10:38] Oculus is the clear leader for now, but who's coming behind them?

[14:55] How virtual reality can be used in a social context

[18:52] How much farther can virtual reality drive the retail apocalypse?

Website:

www.BlakeJHarris.com

Direct download: YW_126_Blake_Harris.mp3
Category:general -- posted at: 10:19am EDT

Jason Hartman talks with Robby Soave, associate editor at www.Reason.com and author of the new book Panic Attack: Young Radicals in the Age of Trump, about what on earth is happening on college campuses these days. There are more and more protests trying to shut out speakers that students don't agree with, and professors are becoming terrified of their students accusing them of any little misstep. Jason and Robby explore this phenomenon and what may be done about it to cure the ails.

Key Takeaways:

[3:51] College campus activists have decided that a free speech set of norms is not condusive to their goals, and why that's self defeating

[6:21] College campus activists have decided that a free speech set of norms is not condusive to their goals, and why that's self defeating

[10:20] The damage a small minority of students can cause is significant

[14:02] College campuses have become much more uncomfortable for marginalized students

[17:34] The nation is way too polarized right now

Website:

Panic Attack: Young Radicals in the Age of Trump

www.Twitter.com/RobbySoave

Direct download: YW_125_Robby_Soave.mp3
Category:general -- posted at: 11:42pm EDT

Jason Hartman talks today with Frank Gallinelli, founder and President of Real Data and author of the book What Every Real Estate Investor Needs to Know About Cash Flow & 36 Other Key Financial Measures, about what metrics Frank finds the most important for single family home investors to pay attention to. They also discuss the "holy grail" metric that investors should be using and when you actually SHOULDN'T invest in real estate.

Key Takeaways:

[1:56] What are the core metrics that real estate investors should be looking at?

[6:41] You should try and forecast best case, worst case, and in-between case for your properties

[8:04] What is discounted cash flow?

[10:39] The holy grail metric is still IRR (Internal Rate of Return)

[12:28] A different way to view Return on Equity

[16:01] Is there a time where it doesn't make sense to acquire properties?

[21:46] Education is absolutely vital to being a good investor

Website:

www.RealData.com

www.VentureAllianceMastermind.com

Direct download: YW_124_Frank_Gallinelli.mp3
Category:general -- posted at: 12:00pm EDT

Jason Hartman talks with Tal Tsfany, President & CEO of the Ayn Rand Institute, about free speech on college campuses, how we should be defining things like happiness and selfishness, and why we should be focusing on the self. They also examine the philosophies of those who want to tax the rich in order to redistribute wealth.

Key Takeaways:

[2:50] What's happening with speech on college campuses is a result of progressive philosophies

[4:38] What would Ayn Rand's political views be in today's world?

[8:17] Ayn Rand's definition of happiness

[11:45] Love is a goal or value that you pursue. It's a spiritual trade

[15:42] Ayn's definition of selfishness

[19:40] Berkley students in the 60s were reading Ayn Rand to be cool, but not following through on the axioms

Website:

www.AynRand.org

Direct download: YW_123_Tal_Tsfany.mp3
Category:general -- posted at: 9:54am EDT

Jason Hartman welcomes Lisa Tomita, a client with 4 properties who has recently decided to self-manage two of her properties. Jason and Lisa discuss the ups and downs of investing and how self-managing has turned Lisa into a more empowered investor ready to deal with all the bumps along the way as she moves closer to her financial independence.

Key Takeaways:

[2:57] Lisa's tenant saved her $200 because of the relationship they've developed

[7:46] Lisa recently quit her job so she could focus full time on real estate

[11:58] Self-managing has made Lisa feel more empowered and learned

[16:15] One of Lisa's deals that hasn't gone well broke 4 of Jason's 10 commandments

[22:51] Income property is so durable it's like the self-healing asset

Website:

www.JasonHartman.com/Masters

Direct download: YW_122_Lisa_Tomita.mp3
Category:general -- posted at: 9:50am EDT

Jason Hartman and Greg Lukianoff, President and CEO at FIRE (Foundation for Individual Rights in Education, about the state of free speech in America and, specifically, on college campuses. Campuses these days have a higher level of intolerance than ever, and Greg points to one specific thing that's helped lead the way more than anything else. Listen in as Greg and Jason discuss first amendment issues and how they can be solved in today's climate.

Key Takeaways:

[5:57] How bad has our intolerance of free speech gotten?

[9:12] One big trend that changed freedom of speech

[12:19] Since 1991, the US is continually getting safer, yet parents are hovering more than ever and are way more paranoid

[15:35] What should colleges be teaching students about free speech?

[18:47] What is FIRE?

[22:38] FIRE protects people in free speech cases and harassment claims

Website:

www.TheFire.org

Direct download: YW_121_Greg_Lukianoff.mp3
Category:general -- posted at: 12:00pm EDT

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