Creating Wealth Real Estate Investing & Income Property

This episode focuses on the opportunities which exist when self-managing an income property. First, Jason reviews a Business Insider article regarding dwindling investment property inventories. And later in the podcast, Jason is joined by Bill, who helps manage Fernandos Atlanta and Texas properties. Bill discusses the steps necessary when self-managing income properties.  He shares how to show a property using software tools, leasing a property to a new tenant and how to have tenants facilitate repairs and maintenance issues.

Enjoy a FREE sample of Jason Hartman’s Financial Freedom report in audio format.

Enjoy a FREE sample of Jason Hartman’s Financial Freedom report in audio format.

A local market specialist in the Jackson, Mississippi area joins Jason to share details of what makes Jackson a great place to live and to invest. Those looking for blue collar or white collar work are likely to find it in Jackson as employers abound. The well built, low-cost properties have a high RV ratio and the regulatory climate is landlord friendly. Brick on slab construction and agreeable climate make rehabbing lest costly and do-able year round.  

Key Takeaways:

[1:36] There is plenty of work and money goes farther in Jackson, Mississippi.

[4:10] Details of Jackson’s regulatory environment and landlord friendliness.

[5:19] Who are the target tenants of Jackson and who employs them?

[7:43] Typical house prices, cost to rent and what is included in a rehab.

[10:44] Classifying the properties based on cost to buy, building type and school district.

[13:30] After inspections, properties are upgraded and rehabbed with durable materials.

[15:46] A 6-month warranty on rent and upkeep is standard with this local market specialist.

[16:31] Jackson Mississippi has exceptional RV ratios. There are plenty of low-priced homes which collect high rents.

Mentioned in This Episode:

Jason Hartman

A local market specialist in the Jackson, Mississippi area joins Jason to share details of what makes Jackson a great place to live and to invest. Those looking for blue collar or white collar work are likely to find it in Jackson as employers abound. The well built, low-cost properties have a high RV ratio and the regulatory climate is landlord friendly. Brick on slab construction and agreeable climate make rehabbing lest costly and do-able year round.  

Key Takeaways:

[1:36] There is plenty of work and money goes farther in Jackson, Mississippi.

[4:10] Details of Jackson’s regulatory environment and landlord friendliness.

[5:19] Who are the target tenants of Jackson and who employs them?

[7:43] Typical house prices, cost to rent and what is included in a rehab.

[10:44] Classifying the properties based on cost to buy, building type and school district.

[13:30] After inspections, properties are upgraded and rehabbed with durable materials.

[15:46] A 6-month warranty on rent and upkeep is standard with this local market specialist.

[16:31] Jackson Mississippi has exceptional RV ratios. There are plenty of low-priced homes which collect high rents.

Mentioned in This Episode:

Jason Hartman

Guest Ed Conard is an economist who worked with Mitt Romney at Bain Capital, he is the New York Times Bestselling Author of Unintended Consequences: Why everything you’ve been told about the economy is wrong and his upcoming book, The Upside of Inequality: How Good Intentions Undermine the Middle Class promises to educate and enlighten. Discussions during this podcast include misnomers about CEO pay, why the technology sector is wildly profitable and how a complex web of regulations may be only benefiting the big players in the market.

Guest Ed Conard is an economist who worked with Mitt Romney at Bain Capital, he is the New York Times Bestselling Author of Unintended Consequences: Why everything you’ve been told about the economy is wrong and his upcoming book, The Upside of Inequality: How Good Intentions Undermine the Middle Class promises to educate and enlighten. Discussions during this podcast include misnomers about CEO pay, why the technology sector is wildly profitable and how a complex web of regulations may be only benefiting the big players in the market.

Unlike stocks, bonds, mutual funds or commodities such as precious metals like gold and silver – real estate is a multi-dimensional asset class. The multi-dimensional nature of income property makes it extremely profitable in changing ways based on varying market conditions. This is a wonderful thing because investors can profit even seemingly “bad” markets. For example, when financing becomes expensive (low housing affordability rates) or difficult to qualify for (low capital liquidity) it can create excellent opportunities to increase rents. When mortgage rates are low and qualifying is easy it can spur terrific appreciation. You can win either way so long as you adapt your strategy based on economic realities.

Additionally, a discussion about Macro vs. Micro Markets™ so don’t just run out and buy based on a city – be sure to screen and drill down into the various Micro Markets™ within each city. Since you can’t buy all of them… you may as well buy the best ones!

Last but not least Jason recommends the book “Revolutionary Wealth” by Alvin and Heidi Toffler.

Unlike stocks, bonds, mutual funds or commodities such as precious metals like gold and silver – real estate is a multi-dimensional asset class. The multi-dimensional nature of income property makes it extremely profitable in changing ways based on varying market conditions. This is a wonderful thing because investors can profit even seemingly “bad” markets. For example, when financing becomes expensive (low housing affordability rates) or difficult to qualify for (low capital liquidity) it can create excellent opportunities to increase rents. When mortgage rates are low and qualifying is easy it can spur terrific appreciation. You can win either way so long as you adapt your strategy based on economic realities.

Additionally, a discussion about Macro vs. Micro Markets™ so don’t just run out and buy based on a city – be sure to screen and drill down into the various Micro Markets™ within each city. Since you can’t buy all of them… you may as well buy the best ones!

Last but not least Jason recommends the book “Revolutionary Wealth” by Alvin and Heidi Toffler.

In this is episode, Jason interviews analyst, author, screenwriter and former Waffle House employee, James Adams. James’ book, Waffle Street: The Confessions & Rehabilitation of a Financier gives us an inside look of what it was like to be working on Wall Street during the housing market crash. His story of leaving the modern version of organized crime and getting a job at the most recognized greasy spoon in the southeastern US has been made into a movie starring Danny Glover. He describes the central banking system with regards to loans and debt, reminds us of the problems associated with creating money out of thin air and warns Japan may be the first big domino to fall when the next crisis occurs.