Jason Hartman brings on investment counselor Carrie as they discuss the investor network process. They explain the process of finding properties, getting financing, evaluating the provider, and choosing property management. This can seem to be a daunting task, but that’s why the network exists: to provide the complete solution for real estate investors.
Investor 0:00
If you don’t have any investment, real estate investments, you will not have the opportunity to learn to make mistakes and learn from it. And then you will not be able to tell which one is a better investment. I think you just have to get it started somewhere and with the help of your investment counselor, and then move forward.
Announcer 0:18
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 thousands 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 on now. here’s your host, Jason Hartman with the complete solution for real estate investors.
Jason Hartman 1:09
Welcome to Episode 1369 13691 of our investment counselors has been kind enough to join us today. She is going to talk about a few very important things to investors. Carrie, welcome back. How are you?
Carrie 1:23
Hey, thanks, Jason. Good to have be on. Thanks for having me. We’ve always got to distinguish between
Jason Hartman 1:27
the male carry and the female carry. So that’s why I introduced you with the sheet. So everybody would know in advance good stuff. So you wanted to talk a little bit about the process. And we haven’t talked about this lately, just to give in, you know, to remind people or for new listeners, to just explain a little bit about what we do and how we work. What are your thoughts?
Carrie 1:52
Yeah, exactly. So several investors have been coming up to me Okay, Carrie, what do you guys actually do? What is the Jason Hartman network and how can you help We build my investment portfolio. So, as investment counselors, you’re assigned an investment counselor, and we’re here to see what your goals are, and place you on the right path to achieving that passive income, or whatever kind of goal you might have for year, one, year five year 10. And lay it all out for you through financing through acquiring properties, and the whole rundown through property management and everything in between. So, do you want me to break down each step Jason?
Jason Hartman 2:30
Yeah, sure. I mean, our slogan is the complete solution for real estate investors. So we will assist you with every aspect of your investment. There’s no charge, we earn our money as a referral fee from the broker or seller of the property. We don’t charge investors for doing the portfolio makeover where we help you determine the highest and best use for funds or equity and other properties that you have or stock accounts or whatever. We help you use those in the highest and best way, or at least what we think is the highest and best use of those resources, and really refer you and introduce you to all of the important parties in the transaction. Carrie, go ahead.
Carrie 3:16
Yeah. So what we’ll do, I’ll have an initial consultation with you on the phone and again, go over your goals. So if your goals are to start real estate investing right away, will connect you to a lender for financing. Whether that is a conventional Fannie Freddie loan or special financing. I just connected someone this morning for their self directed IRA, to use financing in that department.
Jason Hartman 3:40
Right. So that’s different. Let me just elaborate on that a little bit, if I may. So Fannie Mae and Freddie Mac, of course, are the traditional conventional financing options. They offer the lowest rates, those beautiful, super cheap, arguably negative interest rates, depending on what you think the real rate of inflation is and and then tax better It’s for the interest portion where you really get paid to borrow inflation induced debt destruction. Go to Jason Hartman calm and type inflation induced debt destruction in the search bar to learn more about that you’ll find a past episode or many on that. That’s the best financing. That’s the traditional thing. But what if you have too many properties? Each person can only have 10 finance properties. So, if you’re married and your spouse qualifies, then you can have up to 20. Or what if you’re a foreign national, or as Kerry said, What if you want to invest with a self directed retirement account, then you can’t get that traditional financing. So we can refer you to other sources of financing that do more specialized loans. And of course, you’re going to pay a little bit more, but not that much more. There’s pretty good stuff in this market nowadays. In the old days, you know, and I’ve been doing this a very long time, there was nothing It was either conventional Fannie Mae Freddie Mac financing, or what is also known as agency loans to hard money loans, which were extremely expensive. So now there’s this nice middle market and there’s there are some decent options in there. So Carrie or our other investment counselors can refer you to all the right sources on that. Okay, Carrie, go ahead.
Carrie 5:19
Thanks, Jason. So once you get through financing and you have your pre approval letter, you know, will be on the other side helping you find properties and connecting you to our local market specialists. They are the boots on the ground team, they own those properties in the various markets were in and they fixed those properties. They flip them and they sell them to investors through our network, so will connect you to those local market specialists make sure you know you’re getting the right inventory to look through. And then once you find a property will help you through that process as well. So you’re going to request your purchase agreement. You’re going to go through the inspection phase, some investors skip that crucial part of the Due diligence, do not
Jason Hartman 6:01
skip that.
Carrie 6:04
Recommend carry, hey, that extra fee
Jason Hartman 6:06
carry. Let’s talk about this for a moment the inspection issue, okay. And what she’s talking about is home inspections, right where you have an inspector go and inspect the property. The general rule is you should always have a home inspection. The only exception you would ever want to make is if you are buying one of our new construction properties from one of the big builders, okay, if it’s a small builder, I think you still should have an inspection, even though it’s brand new construction, because small builders, they’re not as regimented. They’re not as corporatized if you will, you know, I mean listen big companies cut corners to there’s no question about it, but you’ll have a big company to fall back on if you’re buying from a big regional or national builder. So it depends who the builder is, you might skip that home inspection with the big national or regional builder but if it Small builder, I think you still should have an inspection Carrie, go ahead.
Carrie 7:03
So when you get that inspection report back, you know, we can review it with you make any highlights on it, and then send your request back to the local market specialist to fix the final repairs on the property. And majority of the time, if not all of the time, you’re not financially responsible for those repairs. So keep that in mind that you know, if the property is listed on our site for 100,000, you’re paying 100,000 you’re not going to go and put a new roof on and add to that purchase price. So keep that in mind when you’re looking at the inspection report and the property itself as well. So once your inspections complete, and everything looks good, we’ll be helping you and sending you referrals for insurance companies as well get that lined up and your lender will order their appraisal. And once everything is good and said and done, you’re happy with the property. That’s when you’ll do your closing. Everything is through that local market specialist their title company They’re paperwork. And then you’ll be passed off to either an in house property management, or a sister company will also have referrals if you need. So you can always shop around and make sure you’re getting the best company to watch over your properties.
Jason Hartman 8:14
Yep. And that’s the basic idea. Of course, there’s much more to it than that. And that’s why we’re here. I do want to stress that, you know, we’re not attorneys, we’re not tax advisors. And we’re not your real estate agent. We are a referral network. And for the last 15 years, or really 16 years now, I’ve been in this business helping people invest nationwide for many years. Before that. I owned a traditional real estate company that I sold the Coldwell Banker. You know, I’ve literally trained thousands of real estate agents over the years and helped thousands and thousands of clients either directly as a real estate agent, or through agents that have worked for my companies. So we’ve got more experience, arguably than anybody in this field by a huge margin. And many people lie about their experience and how long they’ve been doing it and so forth. Be careful out there, okay? Because there’s, there’s a lot of fly by night operators. And so we’re here to help you and offer Lifetime support for your investments. We also offer through a separate company that I manage software that can help you evaluate and track your investments, and some some great tools there as well. You can go to real estate tools. com to check that out. And then you can of course, check out the properties and contact one of our investment counselors at Jason Hartman calm or by calling because we like to say that in the modern era, we actually talked to you on the phone. There’s so many of these companies. It’s like, gosh, do you even have a telephone anymore? Can I have a conversation with someone It’s so frustrating. You can reach us at one Hundred Hartmann, that’s one 800 h AR t ma n. carry any client experiences you want to share or anything else about process? Yeah, one last thing on the process, as you were mentioning, it’s, you know, you have us for a lifetime. So whether it’s a month after you close the property a year after you closed, you know, keep us in four or five years. I mean, we help clients. And look, you know, I just be very frank with you, what do we get out of that? We get repeat business, lots of it. I mean, many of our clients have purchased dozens and dozens of properties through our network. So we’re here to support you for life. You know, if you bought a property from us 10 years ago, give us a call. We’ll be happy to help you. Okay, so we’re always here,
Carrie 10:42
right? Just keep your investment counselor in the loop too, because chances are, they’re going to respond faster. That property manager, they’re going to respond faster if they see a Jason Hartman name on the email than if you just went and did it on your own. So keep us in the loop. We can help you whether it’s communication issues, you want to 1030 You want to exchange your property, whatever it might be just just keep coming back.
Jason Hartman 11:03
Yeah, we’ll do we’ll be glad to help you with any of that. And so what carries saying there is, look, we kind of aggregate through our network, the leverage of the fact that we do a large volume of business. We refer a lot of business to these property management companies, these local market specialists in our network, simply by copying your investment counselor on an email, as you’re dealing with your property manager or the seller of the property, they will most of the time, be more helpful, be more motivated to take good care of you. Because you are part of our network. You have that leverage of our network that is working for you in the thousands of transactions we’ve done. So that’s a very valuable thing. What else Carrie?
Carrie 11:51
Well, so that leads me to so I recently had a client about a month ago who’s going through a situation with a local market specialist. They had sold the property about eight months prior, and after closing there was an invoice to my client to replace the water heater. And according to local market specialist, he sold the property with the water heater. He claimed it was brand new, but now the contractor so you know it’s it’s out of date it needs to be fully replaced. So I got involved we connected we had a conference call and after hashing some things out the local market specialist service to brand new water heater that he paid for and no longer invoiced the client. So we hash it out as kind of a what we call group therapy. I guess. That’s one way to show if that client would have gone straight to the local market specialist. You know, that’s a water heater. Yeah, he closed he signed on the dotted line that the property was no his but the local market specialist honored. He was supposed to replace that water heater and he did the right thing in the end, but he got us involved and we all made it right.
Jason Hartman 12:58
Good stuff and That is something we do all the time to help our clients. We have heard from other clients that have the same or similar challenges that you might approach us with. We’ve heard just about everything I think, I don’t know, occasionally I get surprised. And I’m like, this has never happened before. This is a new one. You know, that’s, that probably happens once a year. Okay, that some new thing happens that I haven’t dealt with before, or you haven’t dealt with before. But we can help you because we know the fair price, we know what you should expect. We know if you’re expecting too much or too little. And so, you know, engage with our investment counselors. They’re here to help you for the life of your investment. And we’ll be glad to help you with everything. Okay, good stuff. Carrie, does that wrap it up? Or did you have anything else you wanted to share today?
Carrie 13:50
That’s pretty much it. Another thing I was going to highlight is, you know, when you do get connected to the local market specialist, develop a relationship with them, get to know them, let them know Exactly what you’re looking for. So you’re kind of at the top of their list and reminding, okay, you know, I know, investor Joe was looking for this price point and you know, I’m going to connect him to this team. So get to know them develop a relationship. I’ve several investors who look on the site, send me a link Kerry, who is the local market specialist with this property, I tell them the name and they say, give me a contract. Because they develop that relationship and the trust, they know what their rehabs are going to look like that to get those properties in front and center those hot ones that you want before anyone else. That’s my suggestion is just get ahead of the game and get to know these local market specialists.
Jason Hartman 14:38
Good stuff. Alright. Thanks for sharing this with us today. And that was great. Again, Jason Hartman calm or one 800 Hartman, reach out to us and we’ll be happy to help you even if you purchased a property on your own somewhere and you need some advice on it, or whatever. We’re here for you. So just reach out to us, Carrie. Thanks again.
Carrie 15:00
Thanks, Tracy.
Jason Hartman 15:02
Thank you so much for listening. Please be sure to subscribe so that you don’t miss any episodes. Be sure to check out the show’s specific website and our general website Hartman. Mediacom for appropriate disclaimers and Terms of Service. Remember that guest opinions are their own. And if you require specific legal or tax advice, or advice and any other specialized area, please consult an appropriate professional. And we also very much appreciate you reviewing the show. Please go to iTunes or Stitcher Radio or whatever platform you’re using and write a review for the show we would very much appreciate that. And be sure to make it official and subscribe so you do not miss any episodes. We look forward to seeing you on the next episode.