Jason Hartman starts this solo episode by talking about the most average city in America. He then shares an article about how Zapier is paying employees to move outside of San Francisco and another article that says that developers drive up the cost of homeownership in New York City. Jason also reminds the listeners that money continues to flow into real estate and why it’s a great idea to work with an investment counselor to help build your portfolio.
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This show is produced by the Hartman media company. For more information and links to all our great podcasts, visit Hartman media.com.
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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 1:03
welcome to the creating wealth show. This is your host Jason Hartman with episode number 870 807. Thank you so much for joining me today as we talk to our guests. Yours truly, yes, I am your guest today. Nobody else. Just you and I and maybe you’ve got your family listening. I don’t know, one of our venture Alliance members, Chris and his wife, Rachel sent me this great photo. They were going on a road trip, and they were playing my podcast and they’ve got they’ve got two boys. And they showed a picture of the boys sound asleep in the back of the car. And they said, This is what your podcast does. It puts people to sleep. Oh, okay, little jabs here and there is pretty fun once in a while. That was good. That was a good one. You got me with that I left. So a few stories we’ve got to talk about some different things going on out there. It seems like I’ve got a guest all too often.
So first, I want to talk to you about average. Now, this show is definitely not about being average. As you probably have noticed by now, I don’t have much regard for being average. But there was a story I saw the other day by Michael Hawthorne. And it was about the most average city in America, the most average city. And as we look at markets around the country, and even around the world, we entertain that a little bit but don’t recommend it because we haven’t found anything that works so well, internationally, but certainly have a lot of good places to invest in the US as we look at these different markets and and understand that there are about 400 real estate markets in the US. So when someone that the next party you go to talks to you about you know The real estate market, just educate them about how there are so many different markets and they all act very differently. And there’s three basic kind of kinds of markets linear, cyclical, and hybrid. Of course, you all know that by now, because we’ve talked about it ad nauseum. But here is the average city in America. Okay. And I will tell you what the city is at the end, but let me first tell you what, some statistics about it. All right, because here the article says, it’s definitely an average American city, when you crunch the numbers on eight measurements, while admitting that there are thousands more that could have been used. Okay, but here are eight of them. You see that this is like the typical cities, this typical American city. Here’s the average of 917 cities that they looked at for this survey, and the average population in these 917 cities was 300. 21,007 73 so 321,000 is the average population of an American city writer of these 917 average population density 161 people per square mile 161 people per square mile average. Now, this is sounds like an oxymoron, a non sequitur, a statement that contradicts itself, average median age. Hmm. So they take the median ages of all these cities and then they average those, it’s not the average age. It’s the median age. And remember, of course, there is a difference between average and medium average, as you know, is just adding up all the numbers and then dividing by the number of items, right, and then the median is just picking the middle. Okay. So a lot of times, interestingly, and I, you know, I think this is kind of misleading. Now. Usually these numbers are pretty close average and median, right. But a lot of times, you know, you see these various price surveys and statistics on how the real estate market is going and this and that. They talk about the median price and this kind of stuff. And I don’t know, you know, I, I have often asked myself, shouldn’t we take the average price? And the answer to that question? Well, apparently the statisticians disagree with me, they think the median is a more accurate number to reflect what’s going on there, right. But if you don’t have, you know, a few multi zillion dollar homes in that market, it seems like the average might actually almost be a more accurate way to look at it. And so the only way to answer that question is, it depends. It depends on what’s in that market and what’s going on there. Right. But anyway, the average median age Was 38.4 years old and turning a page here. The average median. Here we go again with the average median, the average median income $46,871 per year. And by the way, I don’t think that’s household income, because the household income is higher than that. Right? But interestingly, it’s not much higher. I think the last time I looked at household income, the median household income, it was like $56,000, I want to say So interestingly, not that much higher the average poverty rate, not the average median, but the average poverty rate 16.8% and 80.2% of residents commute by car.
Now, why does that matter? Because in all my talk about the self driving car, which has been extensive, although I’ve Shut up about that lately, but I used to talk about it quite a bit and how that is a very disruptive force for real estate for real estate investors because the value of real estate has always since the beginning of time, back to the days of us living in caves, has been determined by three things. The three primary value drivers location, location, and location. Those are the three primary rules, right? Well, the self driving car is going to change that quite dramatically. And you know, speaking of self driving cars, I think this is appropriate time for a small and I will try to keep it short, but a small tangent, and maybe a rant. So I’ve got my second Tesla, right. The first one it was okay. You know, I liked it. I had a few complaints, but overall, I thought it was a pretty swanky car. That was a Model S and then I Got the Model S. Big mistake? Oh my God has that been a terrible, terrible experience? I’m wondering if Ilan should write a book called passing the buck? Yeah. Ilan could Elan musk could write a book called passing the buck. You know, you read in these news stories and so forth about Ilan musk and him being famous for overstating projections on, you know, when he’ll deliver cars or deliver this feature or that feature. And I tell you, this Model X, it’s a disaster. I can’t stand the car. It’s just it’s just awful. I mean, the car has got so many gimmicks and crap and gizmos on it, that it just it just doesn’t work. Right. You know, it Think of it like a computer, which is kind of what a Tesla is right? It’s got just bugs galore. And this stupid doors. They don’t open all the way You know, they’ve got those cool looking Falcon doors. And every time someone comes up to me in a parking lot says what kind of car is this? And I say, I just get to tell them how terrible my experiences with these cool looking doors that don’t open right? What a disaster. Tesla likes to make their customers do all their quality control work, you know, but I’m sick of wasting my time doing their quality control work and explaining the same problem over and over again to them. And they don’t fix it. They just make a lot of excuses. Well, isn’t that and and they’ve got all these funny ridiculous rules and that stupid car about like, well, you know if you can literally I mean, I couldn’t believe this. You can’t believe the excuses they make. It’s shocking. It was on one item and I don’t really remember the item. Now Forgive me for not remembering but the guy is telling me at the service center. He’s telling me Well, if you go between five and 27 miles an hour, it’ll be Do this versus that. How the hell is the consumer supposed to remember all of this crap about your car? All of these absurdly complicated features? If you’re thinking of buying a Tesla, I would recommend you reconsider. Because you know, the other thing I’ll tell you just a general statement, those range estimates on the cars now, you know, this is like all cars, you know, with gasoline, EPA ratings and so forth. You know, but I don’t know who actually achieves those ratings on the range. Fernando, who bought my Model S for me, the car I was much happier with and shouldn’t have ever sold. Well, uh, well, he asked me once when he was he was coming to Las Vegas, I think for our venture lions mastermind and he says, should I just go to this charging station? Will I make it I said, I would not risk it. You will be stranded. You know, you can go get gas like everywhere, right? But you can’t get stupid electricity. And if you do, you know, if you can plug in somewhere, you’re going to get a whopping Three to four miles per hour of charge. Like I’ve literally had my car charging for two and a half days here at my condo complex. Just listeners Just so you know, I don’t own this condo, I rent a very nice condo for a very reasonable price, because I would not buy a condo unless it was an extraordinarily good deal. Not a fan of condos for investment, but I like those little single family homes quite a bit. Anyway, you know, you’d be stranded, you’re screwed.
Okay. So really, you know, maybe if you’re a little old lady from Pasadena, who drives incredibly slow and conservatively, you could get those range estimates but I have never even come close. So, you know, you can get gas in like three to five minutes, right? You can fill your car up and you got 350 maybe maybe even 400 miles of range in your car, this car, you know, in a supercharger, you got to charge it for an hour and a half at least says you’ll get 250 miles but you’d have to be that little old lady from Pasadena doing the driving and, and there’d have to be no wind. And if you run the heater, or the air conditioner, or the stereo, you know, you’re going to use more energy. So God fed up with his frickin car and Tesla’s excuses. Anyone want to buy a Tesla? Okay, so average poverty rate 16.8% residents that commute by car at point 2% now, so what’s going to happen when the self driving car really becomes commonplace? And folks, this is not that far away. And by the way, Tesla didn’t disclose to me all of the self driving features this car does not have that my Model S had certainly not perfect it makes mistakes but the Model S at least had the features Tesla just didn’t bother to tell me this one didn’t have it. So you know, long story, but I’m I’m fed up with Tesla just a terrible experience at 5.6% centive residents have a other high school graduates. They have a high school diploma 8.1 have a postgraduate degree.
So what’s the big deal? This is pretty much the average American city. Okay, the average American city. And what city is this very average city? Well, did you guess? Lynchburg, Virginia, Lynchburg, Virginia, going to the other side of the country in San Francisco, you know, the Socialist Republic of San Francisco inside the Socialist Republic of California. Well, Zapier is a tech company you may be familiar with, we actually use their software, I guess is what you’d call it. We actually use their software. They are literally so here the article is Business Insider article, Malia Robinson, says in San Francisco, the rent as they say, is too damn high. It’s too Damn hi but actually, because you are a smart investor, you know that renting in San Francisco would be a very good deal compared to buying or owning. Okay? But in an effort to help employees the article says, avoid the high cost of living a small tech company will pay new hires get this 10,000 bucks to move out of the Bay Area and work remotely or in a blog post published on March 17. Zapier, CEO Wade foster announced an experimental D location incentive program that will reimburse moving expenses up to $10,000. If a person accepts a position at the startup and moves out of the Bay Area in the first three months, folks, yeah, can’t make this stuff up. Can you? It’s just amazing. I mean, California overrated San Francisco Maybe the most overrated place in California. But you know, I get it. I mean, you know, it’s a tech hub, blah, blah, blah. But there’s lots of tech hubs around the country. You know, if I were going to open a software company, and remember, I do own half of a software company, real estate tools, calm, go check out real estate tools.com. And check out our great apps and our property tracker product and so forth that we’ve talked about. And by the way, listeners, every few months, maybe every if you’re more advanced investor, and maybe every six months, please just go to Jason Hartman calm and listen to that 27 minute, watch that 27 minute video that I have, or you can listen to the audio only portion but really watching the video is important on this one, mostly I like audio, the audio medium, because it’s portable, and it’s great. And that’s why that’s why you all love listening to my podcast. So thank you very much for that. But once in a while you need to see the video. And this is one of those cases where the video really does help, but 27 minutes. It’s the basic overview on investing one on one. And it’s a free video right on the front page of Jason Hartman calm. So check that out. Now, another interesting story in this one was another busy Business Insider article titled, we’re like cockroaches, developers are swarming over emerging neighborhoods. We’re going we’re going from one side of the country to the other here, folks. So now we’re going back east again. See, we started in Lynchburg, Virginia. Then we went out to San Francisco and now we’re going to New York City. Okay. And in New York City, this is you know, this is going on all over the country, but especially in tight land areas. And it just it the article basically I’ll just read you an excerpt pair it says prices have increased dramatically in core areas, pushing people out to areas that we formerly were formerly peripheral areas, says pink ski, who is heading RX RS investment in emerging markets, like New Rochelle and other suburban enclaves. Basically, the developers are going out there, and they are trying to solve the supply and demand equation. That solution could boost the confidence of lenders. This is interesting to see how it all plays together, who’ve been reluctant to give construction loans and financing. So look, you know, one of the things I always talk about in my, you know, various philosophies and principles about investing and understanding marketplaces. And I think understanding marketplaces are it’s just so important. I’ve always kind of had a knack for that. Maybe it’s just because I had so many years in traditional real estate and I saw rates rise and fall and supply of listings increase and fall to where there was nothing supply of buyers increase and decrease and, you know, you just sort of get a kind of a feel for it. It’s kind of hard to explain, but there’s always an equalizer. Okay? There’s always an equalizer. And, you know, when I talk about like the three dimensions of real estate, for example, it’s important to understand that things always equalize. So here, this article talks about how there wasn’t enough financing. But the developers swarming over these emerging neighborhoods, like cockroaches, as they say, right, has increased the confidence of lenders. Okay? And so that puts more money supply into the development market. Now, let me actually show you something else about that. Well, I’m not going to show it to you. I’m going to tell it to you. And this is an email that I got literally yesterday. Let me find this email and I will read it to you because it’s quite interesting. I posted it In our private group and venture Alliance members have access to our private content creation group. And it just says, My comment was yet another sign that financing is loosening up. Now, this is one of our lender relationships. That is a hedge fund, private equity market lender, okay. And this is that new space that I am so glad to see the private market fill in in the financing arena. Because before this happened, and really, you know, so many great businesses are born. Whenever there’s a recession during tough economic times, during the Great Depression. Many people made their fortune, many great businesses were formed because Necessity is the mother of invention, right? So in the last great recession that we had a few years back, okay, the worst economy in seven decades. And by the way, interesting And I showed this before on prior episodes and in my live seminars about how income property was literally the number one best performing asset class in the world during the worst year of the Great Recession. I remember presenting that at one of our meet the Masters events at our former office in Costa Mesa, California. And a lot of people were talking about gold because as I recall, right around that time, may not have been the exact year, but part of that year, maybe straddling it, I can’t remember gold was on a tear and precious metals prices were really going up because there was this massive concern about economic insecurity and economic collapse and all of that, right. So people look for that kind of safety trade, if you will. Well, these types of lenders, these hedge fund and private equity type lender That’s kind of what what I call them. I don’t really have a name for them, but it’s what I call them. And so these lenders all came out of that they all came out of the Great Recession, we would not, we would probably have never seen this type of lender addressing a space in the real estate market. Had it not been for the Great Recession. Now, what happened? Why did they rise up and why are they out there now? Well, you know, basically what happened is we had we have the the primary lenders that deal where loans are sold to Fannie Mae and Freddie Mac, and they have guidelines, and those guidelines got really tight and really strict during the Great Recession. And it obviously hurt my business quite a bit. But only really for a year. You know, that was 2009 I’d say was really my toughest year. You know, it was still okay, it just wasn’t that great because the financing had really dried up and then Not too long after that, you started to see the the free market provide different resources and different opportunities. And this is one of them. This is one that we’ve talked about on the show before, and they don’t have a really good program necessarily for you right now is the buy and hold investor. But here’s why I’m telling you this. Always look at the big picture, always look at the whole supply chain. Remember a couple of Well, a few episodes ago, when I talked about how a lot of derogatory information is coming off of 10s of millions of credit reports. Okay. Now, look at nobody really considers stuff like that. They only consider well, interest rates are high and low and they take this sort of amateur view of things. But you’ve got to look deep, and understand that it’s not just about the rates, it’s also about the supply of money, the ability to borrow because when we all look at As consumers and as individuals at our personal balance sheet, we all look at are our assets on one side and our liabilities on another, right? And if we take our assets and subtract our liabilities, what do we get? We get our net worth, right? But there’s another asset that nobody ever puts on their balance sheet, yet it is a seriously powerful asset. And what is that asset you ask? Well, it is the ability to borrow, it is the ability to borrow, because we know that that debt, that mortgage can be a huge asset in our wealth creation arsenal. So our ability to borrow is a very important asset. And I would say to you that if you have not exercised and usurped and used up a lot of your ability to borrow, then you have an unused asset. And that is Use asset just like lazy money, just like money sitting in a house, where it’s got a bunch of equity that you’re not using, or sitting in a bank account that is not doing really much of anything for you. Right? That’s an unused asset. It’s lazy money. Well, you might have lazy credit. And if you have the ability to borrow more, and you’re not using that asset, just understand that you are reducing your return on investment, you’re reducing your return on investment, because you have this unused asset. And that unused asset, of course, is your credit score, your ability to borrow, right. So here this email, as of yesterday, literally said, Good morning, we are pleased to announce a new line of credit program, we will provide amounts from $3 million up to $50 million. I know you’re all saying oh, you know that’s me. More than I needed, I only need 1 million, right. And this can be used for purchase only construction only new builds and rehab projects. Okay, as one of the nation’s premier lenders for residential real estate investors, our new program offers rates as low as 1.5 points and 7.99%. So basically 8% for flippers and builders up to you’re ready. Now this, this is a sign that money is flowing into real estate, okay, it is a pretty significant sign that will drive the market, drive prices drive rent, and ultimately, if it goes too far, they will over build. That’s the business cycle. Okay, the business cycle applies to business. But hey, real estate is a business and that’s part of the business cycle. So That’s what happened last time around right there was too much money out there was too available. It was too easy to get. And developers were building too many properties and so they overbuilt and then it took a while to absorb that supply and supply ultimately didn’t get absorbed and now it’s really short again and now we’re starting to see more and more money flow of course we’ve seen that for the past several years and that’s why the markets gone crazy and inventory is so low but this is another sign that you’re going to see more and more deals because the availability of money I mean, this is good money You ready? Remember I didn’t give you the number yet. I don’t believe it’s for flippers and builders. This is not for you, but it’s for it’s for your supplier basically that that is the business from which or from whom you buy your properties, our local market specialist right for 90% LTC loan to cost okay. So if they buy a property, they can borrow up to 90%, LTC at very low rates, one and a half points at 7.99%. I mean, that is a phenomenal deal, folks. Listen, I know that because I finance these deals all day long myself, okay, I do a significant amount of hard money lending, and I lend a lot to the people, you are buying properties from our local market specialists. And I’m charging them a lot more than that. Okay. So, you know, it looks like the yield compression problem is continuing for hard money lenders, because now they’re not gonna borrow from me, they’re gonna borrow from this company. But this is just another sign that there’s a lot more money coming into real estate. And that means the glory days are still with us. Okay. And that means you should be asking acting on that knowledge to buy properties and build a prudent portfolio, not a dumb portfolio, don’t overbuy Don’t, don’t, don’t be silly. Don’t. Don’t invest in dumb deals that don’t make any sense. Follow my 10 commandments. That’s commandment number five. Thou shalt not gamble. The property’s got to make sense the day you buy it or you don’t buy it, right. But this is another sign along with the other signs I’ve mentioned, Trump repealing or softening, Dodd Frank, Dodd Frank has been held for lenders. I mean, it’s really hurt the real estate market, right? Well, a lot more money is going to flow into real estate in the Trump administration. Mark my words now Hey, it’s a prediction. I could be wrong. But I doubt it. I really don’t think I’m wrong. And I hope you come back and listen to this podcast in a year in two years. And you know, the podcasts are all up there. You can listen to my old ones listen to flashback Friday, and you can see how right I’ve been. I’ve been pretty right about a lot of things. The only glaring wrong thing is, of course, interest rates. I did think interest rates would be much higher. And I was wrong about that. And that’s a kind of significant thing to be wrong about it. I will be the first to admit, but you know, interest rates are damn hard to predict. I mean, you just, you know, it’s very tough to do. And my other prediction is inflation, inflation, inflation, okay. Trump is inflationary, and inflation is the home run for real estate investors. So, build your portfolios, work closely with our investment counselors. I’d say join us on our Memphis property tour coming up in like nine days, but you know, I think it’s, I think it might be sold out. So join us on our next property tour after that. But you know, don’t just go to Jason hartman.com and look at the website, you need to be working with an investment counselor at our company. If you don’t have one. Just fill out any contact form on our website, especially one where you leave a phone number and our Investment counselors will be in touch with you our we’ve got a fantastic team, all very experienced all many years in the business, all indoctrinated in the proper ways to invest by none other than yours truly, we’re just here to help you build your portfolio and be a prudent conservative investor. And you know, you’re investing for yield. I mean, our, our investments, our yield oriented, conservative investments, and I just like you, I’m sure this happens to you too. I get a little green with envy from time to time as I look at some of my friends who have invested in these high flying cyclical markets. And I just remember back to the last cycle and the cycle before and the cycle before that. And yes, I’m old enough to say, I remember the cycle before that to get the rear end handed to them. So It eventually happens, you know, it’s a game of musical chairs, and the music will stop, and someone will be left standing, and they will lose a lot of those gains they made. So I just believe in the conservative prudent form of investing, you know that a little bit of that comes with age and experience and wisdom and, you know, kind of the thought that you just don’t want to have to go through the trouble of earning that all back all that money you just lost, you know, you work hard. And maybe you’re 40 years old, or you’re 45 or 50. And you’re like, I don’t want to give all this back again, man. It was tough work. And for those money, I want to keep it you know, don’t be too greedy. If you get 20 25% annually all in with a multi dimensional aspects of return. You get on your income property investments, you’re doing pretty well let that compound. Remember what Einstein said? Einstein obviously a pretty smart dude right? On Einstein said, compounding, compounding interest or cottonelle, he said, What do you say? I’m gonna mess it up anyway, he said something like compound interest ought to be considered the eighth wonder of the world. And you know, that’s the thing. Just get your investments, get as many as you can make sure they’re prudent, and just let them compound and let all the things that hurt other people time you’re responsible government market fluctuations up and down. Let them all deal with that. You’re just here riding out nice and comfortably because your investments produce yield, even if the price goes down. As long as you maintain that same income and expense ratio, you’ve got yield, okay? And yield is pretty reliable. It’s pretty darn reliable. And if some of my predictions come true about inflation and the self driving car, a lot of our investors have been tested in more suburban style properties. And remember one of my predictions with the self driving car with autonomous vehicles is what? I haven’t said it in a while. Do you remember that prediction? Do you remember that prediction? That prediction is there the rise of the suburbs? The rise of the suburbs? See, for the last couple of decades, we’ve had this Rise of the inner city again, right where these urban cores have been rehabbed and improved. And they’ve turned a lot of these downtown’s into relatively nice areas. But that’s because people don’t like to drive. But that’s all gonna change. I mean, the next 10 years we’re going to see significant changes here. Now. So you know, Ford Motor Company, they place this Giant order or one that they didn’t place the order Uber place the giant order from Ford right for like a zillion self driving Ford cars. And the delivery date is 2020 less than three years away less than three years. Now who knows if they’ll achieve that, right? God if they’re buying Tesla’s it’ll probably be 2024, Ilan and his over promising and under delivering right with that you’re going to see a huge shift in real estate. And it’s going to be very, very pronounced. And you’re going to see a huge shift in the auto industry, the insurance industry, because hey, if self driving cars are all part of the shared economy, and we don’t really need a car of our own, that’s their doormen 96% of the time. I mean, think about how many hours a day you use your car and do the math. You got 24 hours in a day. 168 hours in a week, how many hours do actually use your car? Not many, even if you have a long commute, okay, so if cars become an on demand item that dramatically reduces the need for car insurance. If accident rates declined dramatically, that dramatically reduces the need for insurance. If you’re in the insurance business, you might want to start planning for this change because it’s coming. And then the whole parking lot business, right? If cars are on demand, hey, cars don’t need to rest just like airplanes, right? These jumbo jets, you know, if you jump on any airline, that plane is moving man because if that when that plane is sitting, it is losing money. You got to amortize the cost of that very expensive device. And when people don’t need to own their own cars. What is that going to do to their personal financial life? Well for most people The second most expensive thing they have is their car. And they don’t need a car anymore. And it’s all on demand ride sharing concept without a person driving. You just summon the self driving robot car to wherever you are, and it’s there in seconds, lessening the need for parking lots because the cars never stopped. They don’t need to park. I mean, it’s just a phenomenal change. It’s gonna put a lot more money into people’s pockets, they’re gonna have more money to pay you higher rent, maybe they’ll buy a house, and if they buy a house, what’s that gonna do? Well, that’s gonna put upward pressure on the prices of houses. This is all good folks. And if you do not have inexpensive or inexpensive a property portfolio of expensive properties, in markets that are based largely on location, or I should say neighborhoods that are based largely on location, you’re sitting pretty, because those self driving cars are going to make your real estate more of valuable. And I believe it’s my prediction at least, the higher end real estate is going to become less valuable because the location premium is going to decline. It’s just not going to be that important. So things what was Bob Dylan, right? That famous line times they are changing? They are changing, folks. So be mindful of that. We’ll keep studying it on the show, of course, and be sure to check out that 27 minute video at Jason Hartman calm it is the overview of investing one on one how to analyze a real estate deal that will really be helpful to you. It’s always good to review that if you’re a more advanced investor, you know, please make it a point to even review that you’ll you’ll have new thoughts. Just let me say one more thing about that here. I remember Earl Nightingale, one of my first mentors at age 17 I was so lucky to discover Zig Ziglar Denis waitley, Earl Nightingale and Jim Rohn talks about Four great mentors that age 17. Right. Excellent, excellent mentors, and Zig Ziglar and Denis waitley. The Sorento small. That’s where I I first bought their audio tapes. Yes, a single audio tape for 995. I remember Earl Nightingale explaining why he loved the audio format. And he was the founder of the largest producer at the time of educational audio content, Nightingale Conant. And what he said is he said, the reason you’ve got to listen to audio content more than once, just like you’ve got to read stuff more than once, right? It’s a comprehension game, but he explained it beautifully like this. And you got to think, you know, of the old fashioned although they’re coming back into vogue, by the way, there’s a resurgence in these two record players, turntables, you know, those are kind of becoming audio file and, you know, real audio files, what do they like they like vinyl because it’s got that very smooth, silky sound. That, you know, mp3 file or a CD doesn’t have, right? Anyway, this one may make sense. So on a record player, you’ve got the record spinning, and then you’ve got the tonearm the needle, right? And when you hear a good idea on Jason Hartman podcast, for example, or on that 27 minute video, your mind starts thinking about that idea. And then you go off and you process that idea and think, Well, what does that mean to me? What can I do with that? How do I use that? What did he just mean by what he said? I don’t know what he said he’s on a tangent. Now my mind is on a tangent, right? You get it? Right. We all do this, right? I don’t think I’m alone in that. We all do this. And so when we do that, it’s like picking up the tonearm. But the record keeps spinning. And the ideas that immediately follow it go by and you miss them. But then when you listen to it the next time because you’ve already processed those ideas that caused you to be distracted. did not pay attention. Then when you listen again to that same audio content, you hear a totally new idea. You might think, well, I already listened to the past 806 episodes of Jason Hartman podcast, right? But you didn’t hear them all, even if you listen to every minute of them, right? Or every second of them, there were times that you were distracted, and you missed an idea. And that could have been a real nugget. Right? It’s, it’s certainly possible. It could have been, I mean, I only have like one nugget every hundred episodes or so. But you know, you’ve got to find out where it is. So anyway, I like that, that kind of metaphor that Earl Nightingale used about the record player and the tonearm. And then after you’ve processed the idea, the tonearm goes back down and it starts hearing the record again. And then you hear all that until another thing comes along that you want to process and you’re distracted by it. So that’s the reason it’s important to review this stuff when I first got that Denis waitley tape, the audio tape of the psychology of winning when I first bought that in Serato small and I put it in my cassette player in my Toyota four by four truck that I had in high school. That car I saved up for that was my first experience with visualization. I visualized that truck I wanted it so bad, kind of a jacked up cool toy to four by four truck. Thought I’d get all the girls with that one thing. It kind of worked not completely, but I visualized that and then it became real. I actually bought it with my own money 50 $300 from the recycler newspaper. Anybody remember the recycler? Yes, the old version of Craigslist. And I got that tape that Denis waitley tape the psychology of winning 10 qualities of a total winner. And I listened to that like 180 times the first month. I had it I just kept listening over and over. And every time I listened over and over, I heard something new that I didn’t hear before, literally. So anyway, that’s kind of it just a little interesting thought there for you. Okay, so, Jason hartman.com check that out for the 27 minute video, I think you’ll really like it. Check out all our products in the store at Jason hartman.com as well, and we will talk to you on Friday for our next episode.
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