Jason Hartman talks with acclaimed financial advisor Ric Edelman. Barron’s has six times (2004–2009) ranked Ric Edelman among America’s 100 top financial advisors. In 2009, Ric was ranked the #1 independent financial advisor in the nation by Barron’s.

In 2004, Ric was inducted into the Financial Advisor Hall of Fame, ranked by Research Magazine for his focus on the individual client and ranked #42 on Registered Rep magazine’s list of “America’s Top 50 Advisors.” Inc. magazine three times named the firm the fastest-growing privately-held financial planning firm in the country. Ric received an honorary doctorate from Rowan University in 1999, and in 2007 was inducted into the Rowan University Public Relations Student Society of America Hall of Fame.

Website:

www.EdelmanFinancial.com

Gary Pinkerton sums up the first 18 mistakes that Jason Hartman discussed in the previous episode, and then wraps up the 30 fatal mistakes investors make with numbers 18-30. In this episode Gary not only explains the 12 remaining mistakes, but details how he fell into the trap of several of them, and how you can avoid them.

So how are investors hurting themselves?

19. They Gamble on their investments
20. Not asking for a Bail-Out (loan mod, Prop Mgr concessions, seller concessions)
21. Not having Enough Confidence and Faith in themselves
22. They are Afraid to Grow, to Learn...so they don't act
23. Simply don't use Prudent Financial Planning Techniques
24. Not Consistently Pushing Forward, planning for the next move (always in escrow)
25. They Don't Diversify Geographically (4-5 markets is sweet spot)
26. Become too Committed to Current Market (must remain Area Agnostic)
27. Have too much Equity in Properties (R.E. is not a good bank)
28. Invest in Properties that are NOT a Necessity (#9-Inv only where there is Universal Need)
29. Not Sticking to the Acquisition Plan
30. Not Embracing the Fragmentation (R.E. is a personal services business, use to your financial adv)

Gary Pinkerton warms up the episode for Jason Hartman, introducing the fact that there are 30 fatal mistakes that investors make that kill their profits. Jason lays out the first 18 in this episode, and Gary will wrap up the remaining 12 in the next.

So how are investors hurting themselves?

1. Investors won't get out of their own way.
2. They get Paralysis of Analysis
3. Over-magnifying bad experiences and under-appreciating Successful Deals
4. They don't become Educated - like attending Meet the Masters!
5. Being too Greedy
6. Not Listening to their Property Manager
7. Listening to their Property Manager without questioning anything (no thought)
8. Not having an Area Agnostic Investment Counselor
9. Not Communicating with their Investment Counselor
10. Panic Buying
11. Saying NO too often, or too early
12. Over-extending themselves. Prudent use of OPM, but respect the power of leverage
13. Not seeing things in context - focusing on that 'pebble in the shoe'
14. Letting one problem sink the entire ship
15. Changing their Personal Financial Picture when still have a fledgling portfolio
16. Listening to your Sphere of Influence
17. They Have False Expectations (or unreasonable Expectations)
18. Not Maintaining Control - Be a Direct Investor

Website:

Meet the Masters 2018

Investing can be tricky business, and while it's possible to navigate it all yourself, getting help from those who've done it before can get you ahead faster than anything else.

Gary Pinkerton and Brandon Cook are involved in Jason Hartman's Venture Alliance Mastermind, and the two discuss what they've learned from their time in masterminds, and why everyone should get involved in one.

Key Takeaways:

[3:04] When Brandon decided to get involved with masterminds

[6:02] Brandon's history at Jason's Meet the Masters events, and how the event has grown

[10:07] You don't have to join Jason, Brandon, and Gary's Venture Alliance Mastermind, but you need to join SOMETHING

[13:40] Getting rid of, or avoiding, negative people in your life

Website:

www.VentureAllianceMastermind.com

Gary Pinkerton starts off today's episode talking about self-managing properties, and whether it's the right idea for where you are in your life. After he wraps up, Jason Hartman takes over and goes over firing your property manager, as well as some buy and hold investing strategy.

Jason's guest, Steve Dexter, wrote the book Real Estate Debt Can Make You Rich and Buy & Hold Forever: How to Build Wealth for the 21st Century, and the two of them discuss the whole idea behind buy and hold real estate investing.

Key Takeaways:

[2:20] Gary's experience self-managing a 4-unit building and slowly giving the building back to a management firm

[5:31] When to start taking action in turning over your unit in order to minimize vacancy

Website:

Buy & Hold Forever: How to Build Wealth for the 21st Century

The VA loan has a whole lot of myths attached to it. Gary Pinkerton takes a look at the most common ones and examines whether they hold up or not.

Then, Gary talks to a veteran, and friend, Clayton about his experience with VA loans, as well as ways he's used OPM (other people's money) to buy his properties.

Key Takeaways:

[2:04] Are you eligible for a VA loan?

[6:14] How much down payment money you're responsible for after you go over the max amount available through VA loans

Clayton Interview:

[9:18] Clayton's time in the service, as well as what his experience has been in real estate

[14:40] Gary has had good luck on Home Advisor finding people to do repairs on homes he manages remotely

[19:38] Why Clayton got a "Wealth Maximization Account"

[23:28] Sometimes it helps to view the rising cost of real estate services (like appraisals) as insurance against taking unnecessary risk

Website:

www.HomeAdvisor.com

Jason Hartman's Meet the Masters event is coming up in January 2018, and it's an event that currently doesn't cost much money but can alter your investment strategy significantly. Real estate experts from around the country get together to give their thoughts, properties are bought and sold, and everyone has a chance to rub elbows with some savvy investors who want to better themselves.

Gary Pinkerton shares some of what Meet the Masters has meant to him, and offers a $150 discount to the event.

Key Takeaways:

[3:07] Meet the Masters is about exposing you to markets and get a plan to get you off the W-2 "dreadmill"

[7:51] How to get your $150 discount to Meet the Masters

[12:15] Some sample discussions from previous Meet the Masters events

Website:

Meet the Masters 2018

Gary Pinkerton opens up the show talking about the importance of blocking out the bad and dramatically changing your life by training your thoughts.

Then, Jason Hartman talks with T Harv Eker about his work Secrets of the Millionaire Mind, which reveals the missing link between wanting success and achieving it. Have you ever wondered why some people seem to get rich easily, while others are destined for a life of financial struggle? Is the difference found in their education, intelligence, skills, timing, work habits, contacts, luck, or their choice of jobs, businesses, or investments?

The shocking answer is: None of the above!

Key Takeaways:

[3:15] The impact Zig Ziglar's book "See You at the Top" has had on Gary

[4:39] The first things you should block from coming into your mind to be a more positive person

T Harv Eker Interview:

[9:13] What people don't recognize about their thoughts

[14:01] The power of Power Thinking

[20:28] How you can reprogram your brain to think positively

[24:11] It's not a zero sum game. You can have more in one area and not lose in another

[29:16] You're doomed to your current station in life unless you actively work to change your "inner money thermostat"

[36:07] Rich people associate with positive, successful people

[41:13] The Millionaire Mind Intensive program

Website:

www.HarvEker.com