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As a solopreneur you want a thriving business and all that goes with it, including an investment strategy for the long-term. Our guest for today has done this by putting his money into real estate.
Today Jason Hartman has a brilliant real estate podcast on that very subject! His company also helps solopreneurs and successful business owners alike put their money into real estate and having that money work for them.
We dive into the particulars on episode 305 of The Solopreneur Hour.
More About Real Estate Investing
Jason Hartman has been in the real estate biz since he was a teen. He saw an informercial on the subject one day, got a book written by one of the gurus at the time and read a few chapters of it.
But his mom picked it up, read the entire thing and got heavily into the real estate investing world. A few years later there was an RE (real estate) conference nearby and his mom encouraged him to attend. So he gathered up a bunch of friends (9 to be exact!) and his mom and they all attended.
That experience inspired him to get his real estate license and at the age of 19 he was in college and had a part-time job working for Century 21 (a real estate company).
By 20 he had bought his first investment property, less than 2 years later he sold that one and bought a condo in Irvine which he moved into. He made some money on that deal (he remembers it being about $15k), and continued to invest. Jason’s learned so much in that time, and he shares some of that today on the show.
You’ll Also Hear:
- How do you know where to invest?
- All real estate is local: true or false?
- What’s the modern version of organized crime, according to Jason?
- Can you (or anyone else) actually predict appreciation or depreciation?
- How to invest if you have more time than money.
- And much more.
Specifically Jason and I cover what a rent to value ratio is and why it’s so important, and how to get started in real estate investing wherever you are financially.
A rent to value ratio is the value of home versus how much you can rent it for. Jason likes the rent to value number to be 1% at least, or he says the cashflow doesn’t make sense and he won’t do the deal.
So what that means is if you buy a home for 100k he wants to see it rent for at least $1k a month. One percent of 100k is $1k. If you buy a home for $300k it needs to rent for at least $3k a month, those numbers will meet his 1% rent to value ratio and can be applied in any geographic market.
Jason’s company is set up to help people create these kinds of deals in any part of the US. In general his investors tend to be successful business owners and solopreneurs who want to make their money work for them.
To work with his group the ideal set up is to have $20k to invest and a high credit score (720 or above is best but 620 and up is possible).
If you don’t have that kind of cash Jason’s podcast and his other resources can get you there. You can learn about wholesaling, flipping or other forms of real estate investment to generate that $20k, and then you can take that money and work with his group.
One of the other resources Jason and his team offers is live workshop trainings. He has one coming up in San Diego at the end of August (2015). The event will teach you how to analyze a market, how to analyze a property, and how to acquire a property. You’ll also find out how to manage your property manager and how to manage property from a distance.
Jason is offering a special discount for any solopreneur listening to today’s episode! Just write a review of his podcast, screenshot your review and email him to get it. Tune in for all of that and more on episode 305 of The Solopreneur Hour.
QUESTION OF THE DAY: What’s your next move to start investing in real estate? Let us know in the comments below!
Do you enjoy this podcast? If so, could you please leave a review here. I read them, sometimes on the show, and will reach out if you leave your Twitter handle!
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Selected Links and Resources From This Episode
Learn more about Jason Hartman
Jason Hartman’s real estate podcast
The Jason Hartman University Live event
How to Analyze a Real Estate Investment (Jason’s YouTube video)
Sololab, a Unique Mastermind
