During the recent Meet the Masters of Income Property event, Gary Pinkerton talked with James Guzman, former member of the US Navy, about his experience in real estate investing, and what he's gotten out of the conference. The two discuss the importance of taking stock of your human balance sheet, something that Patrick Donohoe discussed in his speech.

They also discussed why James is diversifying from his short-term rentals in Mexico to income property in the US, and what a new military real estate investor should know.

Key Takeaways:

[5:36] What's important to know as a new military real estate investor?

[11:02] What to put on your human capital balance sheet

[14:09] The right mindset to make your balance sheet work

[18:55] What is James' Borderless podcast about?

Website:

The Borderless Podcast

www.BorderlessBlog.com

Gary Pinkerton kicks off today's show with a breakdown of what exactly a reverse mortgage is, and who it might be applicable for. He also shares how it works and why it can work during market downturns.

Then Jason Hartman discusses cash flow, real appreciation and geographic diversification as it applies to his, not Albert Einstein’s, theory of real estate relativity. You’ll hear a valuable comparison of a typical Santa Ana, California property with a Birmingham, Alabama and an Atlanta, Georgia property. How do they stack up? Jason will lead you through an in-depth look at rent-to-value ratios (RV Ratio), historical appreciation rates of linear and cyclical markets, as well as hybrid linear/cyclical markets. This comparison may surprise you in several ways. What’s better A $455,000 house that rents for $2,500 per month to six people? Or several $52,000 houses that rent for $700 per month? The same concept can be applied to large multi family apartment complexes and across every geographic market or metropolitan statistical area (MSA).

Next up, Jason talks to one of his lenders about reverse mortgages, a growing trend with broader implications on the real estate market and the economy as a whole.

Gary Pinkerton took some time out of Meet the Masters to meet with former guest Adam Jackson about his lessons learned from real estate investing, and what takeaways he's had from Meet the Masters.

The two discuss speeches by Ron Paul and Brian Smith, as well as why you might want to consider new construction over rehabbed properties.

Key Takeaways:

[9:10] Adam's current philosophy of trying to live free

[11:20] Adam's takeaway from Brian Smith, founder of Uggs Boots

[14:17] Meet the Masters helped Adam pick his 3rd market for properties

[17:20] Gary's IDEAL acronym

[22:06] Most people move from rehabbed properties to new construction as they spend more time in the investment game

Website:

www.JasonHartman.com/Properties

Gary Pinkerton kicks off the episode discussing the relationship between real estate investors and their tenants. He points out the importance of making sure both sides of the deal are winning, and expectations are set from the beginning. This is true whether you're with a property management company or you're self-managing.

Then, Jason Hartman is joined by author and real estate investor, Barb Getty, as she talks about her journey into real estate investing, what it takes to be a good landlord or property manager, how to find and keep great tenants, and explains the eviction process.

Tragedy struck in 1992 when her 17-year-old son was killed in a car accident. Her daughters were 16 and 14 at the time. Sadly, Barb’s 21-year marriage ended eight months after Todd’s death. She bought a small home needing repairs, and following the fix-up, she and her daughters moved in.

Pleased with that first project, Barb purchased her first duplex (with little money, no credit and no experience), hoping she had the wherewithal to be a landlord. Today, she owns 27+ units — a mix of single and multi-family, low and middle income rentals. Barb has also added high-end property management, consulting and speaking engagements to her business.

Although she hasn’t had an easy road, Barb is both financially and emotionally invested in her work. She invites people to watch a video showing scenes she faces as a landlord in the inner city. Barb authored The Landlord Chronicles: Investing in Low and Middle Income Rentals, published in 2010. Armed with a positive attitude and a strong sense of humor, Barb Getty is making a difference in her tenants’ lives, the neighborhood and the city as well.

Website:

www.TheLandlordChronicles.com

Gary Pinkerton kicks off this 10th show with a look back at his speech from Meet the Masters. In it, Gary talked about how he's redefined his life to focus on sharing his unique genius with the world. He believes that some of the work Dan Millman, Jason's guest for the day, has done can help you achieve your unique genius.

Then, Jason Hartman talks with Dan Millman. He is the author of, "Way of the Peaceful Warrior: A Book That Changes Lives" and "The Creative Compass: Writing Your Way from Inspiration to Publication." He's also the former director of gymnastics at Stanford University and a former world champion athlete, martial arts instructor, and college professor.

After an intensive, twenty-year spiritual quest, Dan's teaching found its form as the Peaceful Warrior's Way, expressed fully in his books and lectures. His work continues to evolve over time, to meet the needs of a changing world.

Dan's thirteen books, including Way of the Peaceful Warrior, have inspired and informed millions of readers in 29 languages worldwide. The feature film, "Peaceful Warrior," starring Nick Nolte, was adapted from Dan's first book, based upon incidents from his life.

Much of Dan's time is devoted to writing and speaking. His keynotes, seminars, and workshops span the generations to influence men and women from all walks of life, including leaders in the fields of health, psychology, education, business, politics, sports, entertainment, and the arts.  

Website:

www.PeacefulWarrior.com

Gary Pinkerton kicks off the show discussing some of the parts of the new tax plan that will have the most impact on real estate investors. He specifically targets changes to depreciation and what's changed when it comes to HELOCs (home equity lines of credit).

In this second half of the show, Jason Hartman finishes his interview with Ryan Schellhous, as the two continue their look at the new GOP Tax Reform. Ryan points out a few more big changes, as well as several minor ones. Some of them are HUGE for real estate investors, like the accelerated bonus depreciation, while some are mostly targeted at smaller groups (like hedge fund managers).

Key Takeaways:

Gary Intro:

[4:31] Depreciation of your property doesn't cover your income after about 5 years

[9:43] Change in rules for HELOCs (Home Equity Lines Of Credit)

[13:43] A mischaracterization of HELOCs you shouldn't fall for

Ryan Schellhous Interview:

[20:15] The accelerated bonus depreciation is enormous for real estate investors

[23:46] Changes to the 1031 Exchange rule

[27:50] The carried interest rules have changed as well, impacting the hedge fund managers trading techniques

[29:39] 529 plans (education plans for children) can now be used to pay for private schools

[30:12] Some tax changes that were EXPECTED but didn't end up happening

Websites:

www.IndigoSpire.com

Gary Pinkerton starts off the episode with a rundown of what he sees in the GOP Tax Reform bill from the standpoint of a real estate investor. He goes in to some of the points that are specifically a plus or minus for individual investors.

Then Jason 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.

Key Takeaways:

Gary Intro:

[2:48] The tax reform didn't actually make taxes any less complicated

[5:52] Loans over 750k will be impacted, which could impact purchasing

Ryan Schellhous Interview:

[10:58] The 30,000 foot overview of the GOP Tax Reform

[12:53] Will this tax reform create a repatriation of wealth back to the US?

[16:43] The move that mobilized the GOP forces toward tax reform

[18:40] The 2nd most important thing in the tax plan was the widening of tax brackets and lowering of rates for individuals

[20:50] The standard deducation has been increased, which should increase the number of simple 1040s being filed

[23:51] The single largest revenue raiser in the entire bill

[26:04] The change in mortgage interest deductions could cause a dampening in the high end real estate market

[28:33] The Alternative Minimum Tax isn't gone, but it's gone through an overhaul

[30:25] Pass-through businesses are getting a 20% deduction

Website:

www.JasonHartman.com/Masters

www.JasonHartman.com/Watch

www.IndigoSpire.com

Gary Pinkerton starts off the show today talking about the definition the founders intended when they put down "pursuit of happiness", how it's been twisted by Americans today, and what a smaller government could mean.

Then, Jason introduces his guest, and Meet the Masters headline speaker, former Senator Dr. Ron Paul. The two examine what liberty really means, what governments role actually is, the damage our educational system is doing to our society, and what should be done with the federal income tax.

Key Takeaways:

[10:31] What is the meaning of liberty, according to Ron Paul?

[15:20] How do you draw the line about what the government should be involved in?

[18:50] Ron Paul's liberty amendment to end income tax

[22:28] Progressive education has harmed our nation

[25:15] What business is it of the government to involve themselves in so many aspects of our lives?

[27:36] Many governmental programs have distorted markets like student loans and housing markets

[31:53] Distorted prices and manipulating the currency and tax codes makes people worry about gaining the best tax advantage rather than getting the highest return or providing the most value

[35:07] Inflation, from the government and central bank point of view, seems to be a great business plan

Websites:

www.JasonHartman.com/Masters

www.RonPaulLibertyReport.com

Gary Pinkerton starts off the show discussing how true wealth can be built through real estate if done correctly. It's important to remember what's an asset and what's a liability, and how you can use your assets to afford something that's a liability without compromising your success.

Then Jason Hartman is happy to bring one of his clients, Adam Jackson, on to the show to talk about his journey into real estate investing. Adam started buying properties toward the end of 2016, and has subsequently purchased 11 homes in the past year on his quest for financial freedom.

Adam shares what markets he's currently invested in, where he's looking to expand, keeping score with personal financial statements, and keeping a healthy balance.

Key Takeaways:

Gary Intro:

[3:36] Sometimes we need gut checks on our journey to remind us of what we really need to do to reach our goals

[6:23] Take control of your investments, because nobody will ever care about your financial success as much as you do

Adam Jackson Interview:

[12:25] Who is Adam Jackson?

[18:04] Where Adam bought his first property, and why

[20:15] Why Adam chose to buy a home with cash

[28:05] When you suffer through an expensive repair, remember that your loss is shared by the government on your tax return

[30:42] How to Keep score via financial statements

[35:36] The P vs PC Balance

[38:42] Adam's attempt at the abundance mentality and trying to pass along whatever wisdom/money/time he can

[42:23] Focusing on a few things in-depth is better than a little bit of everything

[21:12] Where Adam bought his first property, and why

[23:23] Why Adam chose to buy a home with cash

[31:12] When you suffer through an expensive repair, remember that your loss is shared by the government on your tax return

[33:50] How to keep score via financial statements

[38:44] The P vs PC Balance

[41:50] Adam's attempt at the abundance mentality and trying to pass along whatever wisdom/money/time he can

[45:31] Focusing on a few things in-depth is better than a little bit of everything

Website:

www.JasonHartman.com/Masters

"The other asset, that people don't realize they have, is their credit"

Jason Hartman is proud to announce the latest addition to the 2018 Meet the Masters of Income Property event, Ken McElroy.

Ken is a Rich Dad Advisor and entrepreneur who is an expert in investment analysis, property management, and property development. He's responsible for over $700 million investment dollars in real estate.

Ken is the author of the best-selling books The ABC’s of Real Estate Investing, The Advanced Guide to Real Estate Investing, The ABC’s of Property Management, and most recently his book on entrepreneurship: The Sleeping Giant.

Website:

www.JasonHartman.com/Masters

www.KenMcElroy.com