A local market specialist from Chicago joins Jason Hartman to discuss absorption rates and answer questions from a listener regarding recent investments in Chicago. First, they compare La Hoya, CA to the Chicago, IL housing market in terms of cost per square foot, median sales price, and median list price. Then, the local market specialist answers the question regarding local school rankings, foreclosures, and exit rates in Chicago. He added that Chicago is a world-class city, a thriving economy, and the most moved to destination in a study by Van Lines.
Announcer 0:00
This show is produced by the Hartman media company. For more information and links to all our great podcasts, visit Hartman media.com.
Announcer 0:13
Welcome to the creating wealth show with Jason Hartman. You’re about to learn a new slant on investing some exciting techniques and fresh new approaches to the world’s most historically proven asset class that will enable you to create more wealth and freedom than you ever thought possible. Jason is a genuine self made multi millionaire who’s actually been there and done it. He’s a successful investor, lender, developer and entrepreneur who’s owned properties in 11 states had hundreds of tenants and been involved in 1000s of real estate transactions. This program will help you follow in Jason’s footsteps on the road to your financial independence day, you really can do it. And now here’s your host, Jason Hartman with the complete solution for real estate investors.
Jason Hartman 1:03
Welcome to the creating wealth show. This is your host, Jason Hartman. This is episode number 556 556. And I hope you have been enjoying our talks recently about our upcoming event in San Diego, we are so excited about that. And that’s at the end of August. And also, of course, our venture Alliance event at the end of September back in Newport Rhode Island, mansion tours fall foliage, it’s going to be awesome. But I have our local market specialist from Chicago here because we wanted to talk about a good listener question and kind of put him on the hot seat a little bit. And I think he’s game are you game?
Chicago Local Market Specialist 1:39
Yep, I’m ready for it.
Jason Hartman 1:40
All right, you’re ready for it? This is, this listener asked a pretty good question. And I will tell you, though, beforehand, that I believe the latest update is he did go ahead and buy these six properties that he’s talking about. But we will answer his question anyway. Because I thought it was good. And we you know, we really value transparency. And just you know, if someone asks us a question, that’s a curveball, and it’s hard to answer. You know, if it’s going to be good content for the show, we’re going to put it on. Okay. So we’ll have that here in a moment. But first, I wanted to talk to you about something that we haven’t really talked much about on the last 555 episodes. And that is the concept of absorption rates. I have alluded to this a little bit, but we’ve never talked about it in a whole lot of depth. And what reminded me about bringing this up on the show, is I got one of these really fancy schmancy newsletters from one of the local realtors here in my new home, La Jolla, California. This is obviously a very expensive high end market, and a beautiful place to live overtaxed as it may be because it’s in the Socialist Republic of California. But it’s a great place. And this Market Snapshot showed some interesting things. And our guest, of course, has it as well. So maybe we’ll talk about this and it’s a good lead up to the listener question. So here’s what it showed 1.6 million as the median sales price for last month. And 243 properties currently for sale in La Jolla, and 71 properties are sorry, last month’s average days on market was 71 days for the sold properties. Now, here’s one of the things you got to be careful of with these statistics, right? Because that shows you the sold properties. It doesn’t talk about the expired listings, the unsold properties, the properties taken off the market, that could have had a longer average than 71 days, it’s only for the sold properties. So just know that and also know that this search was for single family residences and condos, between $999,000 and $10 million. So obviously, it’s the high end market, right? Nothing like we would recommend you investing in but it’s kind of telling because we’ve talked a lot about on past episodes about how the ultra rich are getting ultra rich early in our society as the middle class is under attack. No question about that. It has been for a few decades now. So back to the stats here 71 days on average for the sold properties last month and get this and you’re gonna love this john, compare this to the Chicago market. Okay. Sold price per square foot on average last month. $780 Whoa, you crazy what do you think of that? I mean, you got you guys do new construction. You build stuff you rehab stuff from the from the sticks, right? You know, I mean, that’s crazy.
Chicago Local Market Specialist 4:55
Yeah, so $780 a square foot is just is is really Unbelievable when you think about it, a for us, if you talk about new construction from the ground up, I mean, we’re saying $125, you know, let’s call it a square foot. Now that’s, that’s not your fancy appliances or your fancy millwork. But it’s, it’s, it’s, it’s a sustainable living house that’s going to last, that’s going to be maintenance free. So when I see $780 a square foot that is really remarkable.
Jason Hartman 5:25
That is insanity. Now, I’ve got to ask you, just so to make sure we’re comparing apples to apples, when you quote a number, like 120 $125 a square foot, is that just construction, or does that include the land value, that would be just construction, okay, because this does, to be fair, include the land value. But again, one of my whole points of the Hartman risk evaluator is that you shouldn’t be investing in high land value markets, because they are much more volatile, and much more risky. So the, you know, the construction cost here in La Jolla, if you built these, this, this property knew that they’re talking about would probably be somewhere in I’m gonna just, it could be all over the board, if it’s really high end, you know, you could spend, you know, a few $100 per square foot in just construction costs. And of course, you’re in a very regulated place here in California. So that increases construction costs too. But you know, about the cheapest, you’re going to be able to build that house here is probably 150, maybe $170 per square foot, I’m kind of guessing, in some of our low low price markets, you can build for maybe $70 per square foot. So you’re at 120. And what I’m telling you, folks, the rest of that $780, it’s all in the land value. Crazy, huh?
Chicago Local Market Specialist 6:47
Yeah. So that’s, I mean, that’s a great point, Jason. When you talk about when you talk about what you should look for, not look for, I mean, the land, the land can always change in value, right. But when you’re talking about materials materials are, are really not subjective, unless you’re talking about very low end equipment or very high end. So it’s a very interesting point.
Jason Hartman 7:06
Yeah, it definitely is. And that’s what I say, be a commodities investor. Invest in assembled commodities, or packaged commodities, which is the house sitting on the land, it’s all assembled for you, but you own all of that lumber, all of those petroleum products, all of that copper wire, all of the glass and the steel and all the other, you know, the concrete, all the materials that go into it, I’m sure I’m missing some materials there. But you get the idea, right. And those commodities, you know, they swing in price a little bit too, but they’re far less volatile than land prices, land prices swing dramatically, it says very scary pendulum. So just going on with this, and then we’ll talk about the market absorption rate, okay, the median list price for the current listings, is $2.6 million, I’m just gonna round off, it’s only five grand at these prices, that’s nothing. So $2.6 million, and 78 properties sold in the last 60 days. And you know, what, I looked at this quickly, and I did my math wrong. It’s interesting, because I calculated this for the listeners on the absorption rate of 3.12 months of inventory, I guess, I would have to double that, because I thought that said 30 days, and it’s really 60 days. So that’s kind of misleading. So let’s just do that math again, for the listeners. And basically, I’m just going to cut the 78 number in half. So I’m going to take 78 divided by two, that’s 39. And I’m going to assume, of course, not a correct assumption, but I’m going to just average it say that it’s an average of 39 properties per month, with 243 properties for sale. So all I’m going to do there is take 243 and I’m going to take 39 and divided and it gives me in an absorption rate of 6.23 months to absorb the inventory currently for sale. Now, of course, what we know is that new properties will come up for sale all the time, right? So in La Jolla right now, in this ridiculously high end market where the median list price is $2.6 million. It takes 6.23 months to absorb the inventory based on what this realtor sent me in his fancy full color. Very expensive newsletter, you know, in this is a market that people would consider hot, like, you know, things are going nuts here. People say, you know, I’m starting to cool a bit but overall the past year or so, past couple years really in this market have been really really strong. Any thoughts on that?
Chicago Local Market Specialist 9:50
Yeah, you know, I what I what really caught my eye Jason was I was looking at the median, the median list price of the homes and then comparing it to the median sales price. So I think you You you hit the nail on the head is that there’s a lot of there’s a lot of controversy or a lot of talk about how hot the market is. But I’m wondering if if if people are getting over ambitious in terms of what the they’re listing these homes for, because you’re talking about almost a million dollar difference between the list price to the median sales price. Did you know Did you see that?
Jason Hartman 10:20
Yeah, I did. And I’m glad you brought it up, because that’s a very, very good point. Now, here’s the problem with that, though. You know, as you look at these statistics, I’m sure you’ve heard of that old book called How to lie with statistics, right? It’s kind of famous. And, and I have not read that book. I did buy it. You know, it’s just too wonky for my little brain. But, but, and I never took a statistics class in college or anything. But it’s interesting, you just have to note that the the median price home that’s for sale and the median price home that sold is not the same home. Right? You know, it could be that last month, a few really high end properties sold, then a bunch of lower end properties came on the market right. Now, this is not average, its median. So the reason they use median a lot is because it doesn’t knock the stats off very much like an average would. The median is just pick the middle one. Okay, averages, add them all up and divide by the total, as we all know, this is basic stuff. But yeah, so that that’s interesting. I mean, what do you make of that? You know, we have to say, it’s not necessarily the same house. Right. So that can be also misleading, right?
Chicago Local Market Specialist 11:39
Yeah, I think I think for me, I mean, it’s just it’s a big variance. So it tells me that that market, you probably got some some even even though the market as a whole, maybe a high end market, you’ve got it you got a big variance you’ve got you’ve got homes that will sell for significantly more than other homes, I think is what it what it tells me. I mean, if you think about our our market here in Chicagoland, you know, I think we’re saying the average home home prices is close to $160,000. In Illinois, it may be $155,000. But I don’t think you’re going to see the kind of sway or variance that you see in this in this smaller market that you mentioned, where you live. So
Jason Hartman 12:21
Yeah, and by the way, that is another very good point. This is a very small market. It’s a small sample, and they only did 999 do, you know, basically a million dollars to $10 million? Which, by the way, you know, I mean, there are certainly you know, $800,000 properties here? Well, there’s even some cheaper ones than that. But there are properties above 10 million. Okay. So, you know, it’s, it’s kind of a funny market, you know, this isn’t gonna be a very good sample, but I just thought it was interesting to talk about absorption rates. Right.
Chicago Local Market Specialist 12:56
And, and it’s great, Jason, and we talked about absorption rate I think in, in our market, you know, I think that’s where you’ll see a big variance as well, I think that, you know, there are parts of downtown Chicago that you know, river north or Gold Coast or streeterville, really the highest end markets, where things are going above asking, and they’re going really before Martin before they go on the market, or I don’t know how that always works out with with brokers and realtors, but it seems like they’re on the market for a day and they went first significantly over. And then you got
Jason Hartman 13:29
Over the list price, you mean a bidding war, right?
Chicago Local Market Specialist 13:31
Over the list price, but all but all within one day of going on the market. So it’s, it’s, it’s, it’s pretty fascinating. And then you can go to some, some areas where people invest in, not necessarily where we invest in, but areas that you invest in that, you know, the absorption rate can be closer to nine months to 12 months, just because there’s a flooding of inventory or foreclosures that really a gap in the market in in those regions. So again, just a big variance in terms of absorption, whereas areas that we work in, per se, you know, can be anywhere between three to three to six months on on average.
Jason Hartman 14:09
And I gotta just compliment you, by the way, you know, doing the tour with you recently was was so great. And you have such an awesome business model. And, and just really, you know, really, really have quite a machine there going so you know, going there. So it’s, it’s pretty awesome, you know, so, so good job there. Hey, let’s take a tough question. How’s that sound?
Chicago Local Market Specialist 14:32
Let’s go for it. I’m ready.
Jason Hartman 14:33
Okay, put your thinking cap on. This is a tough one. Here we go.
Jeff 14:36
Hi, Jason. This Jeff and I have a follow up question to our recent conversation regarding investments in Chicagoland. And a recent flashback podcast you mentioned not to get caught up in analysis by paralysis. I’m looking at six rental properties in the Chicagoland area with great rent to value numbers. Wherever I noticed most of these properties are in areas served by schools with a one or two ranking on standardized test scores, which may be an impediment to attracting families to the area. Also, Zillow predicts price declines in these areas due to a backlog of foreclosures. Finally, demographic trends, show population declines and much of Illinois, including Cook County, might getting caught up in analysis by paralysis, or are these significant issues that should be weighed in whether or not to invest in this area? Thanks, Jason.
Jason Hartman 15:28
Okay, so that’s a good question. And it’s a tough one, you know, that, you know, that I thought those were those were good questions, and they were tough questions. What are your thoughts?
Chicago Local Market Specialist 15:37
You know, Jason. And this goes out to Jeff, that they are great questions. And and I’m glad that you asked them because that means if if you’re thinking of these questions, other people have them as well. And and there’s sometimes the elephant in the room. So it’s a lot easier to really to just talk through them and understand why or why not to focus on them. So I think the first point was really talking about this school rankings or ratings. And the reality is, is that the federal government pays for for some of the the schools or incentives, but the reality is, everything is passed on a on a tax basis in Chicagoland. So when you talk about the different regions of Chicago, you’ve got the northern suburbs, which predominantly have the reputation of really, the rich live there, right? price points, 750,000 to a million, let’s call it on average really nice, nice areas, if you think a risky business or any of the movies that are shot, Home Alone, those are those are the areas that you hear about now, those school districts, you’re going to hear Nutri or you’re going to hear Lake Forest, you’re going to hear Deerfield, those people are paying on average, 35 to $40,000 in taxes, okay, for one home. Now, you go to the western suburbs, and you’re talking about prices anywhere from let’s call it, you know, 250 to $450,000. And they’re going to have taxes that are going to be relative, and they’re going to have some really good school districts, you’ve got Naperville, you’ve got Plainfield. Those areas are going to have taxes. Let’s call it around 10 to $12,000. Now when you talk about the south and southwest suburbs, which is where Jeff was considering buying these the his his homes, you’re going to see that the schools are going to be rated in the lower in the lower category. And the reality of it is is everything is relative, right? It doesn’t mean that people are moving out, it doesn’t mean that people don’t live there. These are blue collar working class Americans that are paying their their their own bills. And and they’re going to live within their means. And they’re not going to get foreclosed on. And they’re not going to look for a government handout to get a subsidy or voucher because they don’t qualify. But they’ve got it they’ve got to put their their kids through school. So what they do is they pick family-oriented areas and the areas that Jeff mentioned, were family-oriented areas. And I don’t focus so much on the actual school district rating. We focus on what is this infrastructure of the school and Jason you can really speak to this. You drove through the neighborhood.
Jason Hartman 18:11
Oh, yeah, I saw them. They’re nice. Yeah,
Chicago Local Market Specialist 18:12
The facades are all well manicured.
Jason Hartman 18:15
They’re much better than mine. The schools I went to in Los Angeles. I mean, I went to Palms Junior High and Venice High. And they look like they’re about to fall to the ground. Okay. And by the way, the movie Greece was filmed at my school. Okay, Venice high. Tell me more. Tell me more. That was our football benches. They did that whole thing. Yeah, right there.
Chicago Local Market Specialist 18:35
That’s too funny. So again, you know, my answer to Jeff would be everything. Everything is relative. It doesn’t mean that it’s any any worse or for families. It’s just people living within their means. I think the second question said Zillow, something about Zillow. Had the price declined
Jason Hartman 18:53
Zillow predicting a price decline because of foreclosure inventory backlog
Chicago Local Market Specialist 18:57
You know, and what I would say is that you’re absolutely right judicial, Illinois, is a judicial state. So there is a backlog of foreclosures, I am sitting on close to 75 homes since 2011, that our company would like to purchase, but it
Jason Hartman 19:12
Hey, let me just explain that to the listeners make sure they understand. So judicial foreclosure state is Illinois, Florida, many other states. I don’t know which ones exactly off the top of my head. But these in these states. The foreclosures take a lot longer than they do in places like California, Arizona, where they have the trustee sales, okay. And the judicial foreclosure basically is a lawsuit in essence, you know, if you didn’t pay the loan, you know, get out of the house. Right, and it takes a lot longer. And I think personally, I’d love to get your opinion on this, that judicial foreclosure states, really they’re making a mistake because they have maybe they have less volatility or I don’t want to say that they do but they have the likelihood of less volatility, because the foreclosures happen more slowly. But they don’t. They it’s like they kick the can down the road. It’s like, the same way our government operates with spending, you know, we never want to take our medicine, so we just print more money. Kick the can down the road. And so that’s kind of what happens in these judicial foreclosure states. What are your thoughts on that? But and then just try to remember what you were actually saying before I interrupted you?
Chicago Local Market Specialist 20:27
Yeah, you know, I would, I would say that I would say they’re less volatile. And you see the changes take take longer, right. So I mean, it our decline, most people’s decline was in 2008, nine, but you know, we really, we were declining from 2008, really, to 2012. And then 2012, you started to see the uptick in Chicago, or Chicago land. So again, everything, everything is relative. So one thing that I don’t like about Zillow and I always tell I always tell any investor I get on the phone with who tries to spit out facts or, or anything from any of these third party sites is, you know, you have to take apples to apples, they’re going to take all of the homes in the market, and they’re going to average them together, they’re not going to take the homes that are redeveloped or rehab, they’re not going to take the homes that were bank owned, or the homes that were traditional sales. So everything really gets Mish mashed in a bowl and spit out to you. So I wouldn’t focus too much. And I and I’d say this to Jeff himself, I wouldn’t focus too much on what Zillow predicts the pricing to be I can tell you that I’ve been I’ve been in the industry for for eight years I born raised here, the houses that we sell, that we are selling today, which are our appraised and backed by Fannie and Freddie, just conventional financing have gone up to the tune of about 2% on average, each year. I’m seeing it when I sell the homes, I’m seeing it when I buy the home, so I wouldn’t focus too much on that would be my answer.
Jason Hartman 21:55
So 2%, that’s nothing to write home about. I mean, what do you say to that? You know, that’s, you know, not too exciting to have 2%. Although, if you’re leveraging 2%, that’s basically 10% 10% on 20% down, right? That’s what it turns into, you know, very roughly,
Chicago Local Market Specialist 22:13
Exactly, I would say that the markets that are that are that are slower to recover are also going to be the markets that are going to be more stable to invest in or this are the markets that I think at least I can speak in our market, that you’re going to have a really nice product and the product, what I mean is that you’re going to have a product that’s going to have an appreciation. But because the prices are still so low, when you talk about other markets, they’ve gone above and beyond what the bubble was in 2008, you’re really, you’re really banking or hoping on cash flow, but you’re you should be concerned because you’re not you’ve now hit the ceiling. For us, you’ve got some really nice uptick in terms of values. But you you also have that that nice hybrid model where you’re getting the cash flow, you know, so cash flow is is king in some sense. That’s one of the things that I think cannot be understated. There are many things I don’t like about Chicago, I don’t
Jason Hartman 23:05
like the weather. I don’t like the government. And I don’t like the high taxes, which are a result of government, the weather is not the government’s fault. Or Rahm Emanuel and Obama didn’t do that. Okay. But but that’s what I don’t like about it. But I’ll tell you something. It’s a fun city. It’s obviously a world class city. If you go, you know, and I just say do this test. You know, if you go and you ask someone in Europe, have they ever been to the US? And say they say no? Oh, well, you know, do you want to go? Oh, yeah, I definitely want to go to the America. They always say that right? Then you ask them where they would go. They’ll say New York, San Francisco LA and the fourth choice will be Chicago. Okay, it’s it’s you know, it’s it’s on the map. I mean, many of the other cities we do business in aren’t really on the world map like that, you know, in the Top of Mind recognition like that, would you agree with that?
Chicago Local Market Specialist 24:02
Yeah, I would I mean, listen, I I deal with investors in 11 different countries and and when they talk to me and they they asked me my opinion, I always take off my my hat of where I work, and I say Listen, if I’m if I’m an investor, I want to go to a market that’s a that’s a bustling, thriving market. Because at the end of the day, your investment is only as solid as the person who’s occupying it. So go just to the basics, you you need it you need a thriving market with a diverse economy. We’ve Chicago actually has the most diverse economy out of out of the the four metros really out of any nation, excuse me, out of envy state in the US. So there’s there’s the job front, and then you talk about affordable housing. You know, and then you talk about population 10 million people in throughout Chicagoland 42% of which are renters. It’s it’s, it’s a great market when you’re thinking of overall picture and that’s what I always tell people don’t get bogged down on one or more more items. Look at the picture as a whole.
Jason Hartman 25:03
Well, those cities that I mentioned to you when I gave that example of the European, you can’t do anything investment-wise that makes any sense in any of them except the Chicagoland area. Now, of course, we’re not talking about the city, we’re talking about the suburbs here. You can’t touch anything near in New York, or LA or San Francisco. That makes any sense at all. But here, you can do it, you know, and that’s why Meredith Whitney was it Meredith Whitney or Consuelo Mack. I have them both on my show, I think it was Consuelo Mack, the news anchor, she said that the Midwest is her favorite emerging market. It was an interesting way to say that.
Chicago Local Market Specialist 25:43
That’s interesting. I think that’s a that’s a great segue into I think Jeff had a third question. And it was, he’s concerned about population declines. And all I can tell you is this, is that I consider myself a millennial. I’m 31 years old. And I went out to school for College and University of Oregon, I went out to a boarding school for high school.
Jason Hartman 26:02
First of all, you are only 31. I You are so ahead of your years. I mean, you don’t look at Don’t get me wrong, but wow, I’m amazed. You’re You’re a millennial, or a Gen Y. Wow. That’s amazing.
Chicago Local Market Specialist 26:13
Yeah. And so and so I take I take my I take my peers, and you look at everyone that went to Wisconsin, or everyone with it went to Indiana, or Michigan, or Nebraska, all of those friends that I have are all moving to Chicago. Why? Because it’s affordable living and it’s and it’s an awesome city, you get everything that you’d want from from a New York, in terms of accessibility to things you get everything from a relaxation standpoint that you get from from, you know, California, you know, we get features, but let’s face it, it’s not, it’s not 12 months out of the year just means we appreciate the three months. But what’s most interesting is vanlines did a study in 2014. And Chicago is actually the most moved to destination in their book of business. So that’s what I would tell you, Jeff is is people are moving here, people like the accessibility they’re not interested in buying homes. My friends aren’t interested in buying homes, they’re worried about their their job changes or or movement, their priority is their family they’re spending their money on on the education and the education of their kids. And homeownership today is really just not what it used to be. Yeah,
Jason Hartman 27:25
I agree with you. That’s an interesting point. It’s great to own a lot of little rental properties, you can rent other people just rent your own house, because you’re mobile and the the young mobile class that is very mobile nowadays, you know, they they would be very attracted to a place like Chicago. So I agree with you, and And where else can you get such good cash flow? In a real city type environment? You know, I mean, suburbs, obviously, but in a world class, the Chicago land area, as they call it, okay, so, so good points. Okay, with that, you know what, I guess we went long enough, this will be an entire episode. So I just want to remind our listeners, join us in San Diego, I was working on the content for that event, Jason Hartman University live. And by the way, you’ll be there too, which is gonna be exciting. You’re going to be speaking talking about Chicago. So if you want to get some in person info, and then we’re going to have tell us a little bit about one of your lenders that is going to be present as well, his specialty and so forth. He’s going to be at the San Diego event.
Chicago Local Market Specialist 28:32
Sure. Yeah. So we’re bringing our preferred lender to the event. And it’s someone that is in the top 1% of all originators in the nation. And why that really makes a difference, guys, is because it’s a volume business the same way we’re able to sell homes at a reasonable price and have them cap out, you know, between eight and 10% and have some nice cash flow is because it’s a volume business, we’re not trying to be greedy, or make so much money on every home. And that goes the same for our lender, our lender is really giving the best rates. That’s that’s out there. Because in in reality, we’re sending 15 to 20 deals a month to this to this person. But what’s really unique is a subject to appraisals, the accessibility of an underwriter who sits next to the originator who sits next to the processor, who sits next to the closer so I think that business is all about accountability. And with this group, you get total accountability.
Jason Hartman 29:29
Yeah, yeah, that’s good. It’ll be refreshing to have another lender at our events. You know, we’ve had three different lenders that have spoken a lot of our events. So it’s going to be nice, get a fresh perspective on that. So go and register at Jason hartman.com in the events section, if you want 30% off on that event, we’re in the last segment of early bird pricing, not in level two, level three, and you’ll get 30% off though, if you’ll just take three minutes to write us a review on iTunes, send a screenshot to reviews at Jason hartman.com reviews at Jason hartman.com, I’ll send you back a promo code for 30% off. That’s my ethical bribe. First time I’ve ever used one. But I’m envious of all my podcasts or friends who have so many reviews. And that’s how they’re doing it. So I’m copying them. They’re also having a lot of fake reviews too, but we don’t engage in that practice. So anyway, if you want to do that, join us for that event. And also check out the venture lion stuff by just asking your investment counselor about it. And we’ll be glad to send you some info about that event as well. Thank you so much for joining us and being on the hot seat. Tough question. Jeff. Thank you for your question. Submit any questions you have at Jason hartman.com? Right on the right hand side of the website, there’s a little voicemail tab. And you can just leave us a message, and we will answer your question on the show. So please do that. Jason hartman.com. Use the voicemail tab, ask a question. our listeners love those questions from other listeners and investors. So thank you so much. We’ll talk to you on the next episode.
Announcer 31:05
I’ve never really thought of Jason as subversive, but I just found out that’s what Wall Street considers him to be.
Announcer 31:12
Really now How is that possible at all?
Announcer 31:15
Simple. Wall Street believes that real estate investors are dangerous to their schemes? Because the dirty truth about income property is that it actually works in real life.
Announcer 31:26
I know I mean, how many people do you know not including insiders, who created wealth with stocks, bonds and mutual funds. those options are for people who only want to pretend they’re getting ahead.
Announcer 31:37
Stocks and other non direct traded assets are a losing game for most people. The typical scenario is you make a little you lose a little and spin your wheels for decades.
Announcer 31:48
That’s because the corporate crooks running the stock and bond investing game will always see to it that they win. This means unless you’re one of them, you will not win.
Announcer 31:58
And unluckily for Wall Street, Jason has a unique ability to make the everyday person understand investing the way it should be. He shows them a world where anything less than a 26% annual return is disappointing.
Announcer 32:13
Yep. And that’s why Jason offers a one book set on creating wealth that comes with 20 digital download audios. He shows us how we can be excited about these scary times and exploit the incredible opportunities this present economy has afforded us.
Announcer 32:28
We can pick local markets, untouched by the economic downturn, exploit packaged commodities investing and achieve exceptional returns safely and securely.
Announcer 32:38
I like how he teaches you how to protect the equity in your home before it disappears and how to outsource your debt obligations to the government.
Announcer 32:46
And this set of advanced strategies for wealth creation is being offered for only $197
Announcer 32:53
To get your creating wealth encyclopedia book one complete with over 20 hours of audio go to Jason hartman.com forward slash store.
Announcer 33:02
If you want to be able to sit back and collect checks every month, just like a banker. Jason’s creating wealth encyclopedia series is for you.
This show is produced by the Hartman media company All rights reserved for distribution or publication rights and media interviews, please visit www dot Hartman media.com or email media at Hartman media.com. Nothing on this show should be considered specific personal or professional advice. Please consult an appropriate tax legal real estate or business professional for individualized advice. opinions of guests are their own. And the host is acting on behalf of Empowered Investor network, Inc. exclusively.